2024-06-30-accounts - The Redbourn Charities

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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 2024

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 Rachel Wakefield, Mrs R Hughes, Mrs P Ridgwell, Cllr T Finnigan, Mrs A Towler and Mr C Trim. Four meetings of the Trustees were held in the twelve-month period under review.

The main activity of the charity is the provision of affordable housing for individuals through the use of almshouses owned by the charity. In the year to 30 June 2024, the almshouses have been fully occupied except for one vacancy which occurred and was filled in 2 months.

It is the practice of the Trustees to meet with residents during the year to provide an update and discuss matters of concern. A lunch in December for the residents and Trustees was held at the local pub, The Holly Bush. This was a very pleasant event that was enjoyed by all.

The Warden, who is contracted to work part time, has been in post for fifteen 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 2024 .

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 2024 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.

As well as supporting almspeople and the almshouses pursuant to object (c)(i) above, a proportion of the Charity's income is used to purchase Christmas gifts for a number of residents of the Parish including those recently bereaved. Additionally, annual donations are given to Redbourn Community Group and St Mary's Church, Redbourn.

The charity expanded its activities in 2022, in response to the challenges being experienced as a result of the economic climate, to include the following:

The Redbourn Community Food Club was set up in December 2022 to support residents in Redbourn. It operates on a membership basis and provides ongoing support through the provision of food and other essentials on a weekly basis.
The Redbourn Christmas Hamper Scheme was transferred into the charity in 2022. The scheme distributes hampers to people/families in need in the village at Christmas time.

The charity is currently looking to expand the help given to individuals or families in Redbourn in need of support. To this end we have recently met with representatives of the Trussell Trust and Citizens Advice Bureau.

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 25[th] February 2025.

David Swift Chairman of the Trustees The Redbourn Charities

(krity Re¥55tratSon No. 217154 The Redbourn Charities Annual Report and Financial Statements induding Independent Examlner's Report For the year ended 30 June 2024 Gilberts C. 11.IX I k .IC( DL % 1 4.1 r

The Redbourn Charities Contents Legal and administrative informat Tru5tees' report Independent examiner's report Statement of fi.nancial aCD¥ities Balance Sheet Notes to the financial ststements 7-13

The Redbourn Charities Legal and Administrative Information Trnstees Mr Oawd Swift- Chairman rs Pauline Ridgwell Mrs Angela To¥Aer Mrs Ruth H&heS Miss Teresa Finnigan Mr Christopher Trim The Reverend Rachel Wakefield lappointed 4 Septernbpr 231 ts Valerie Churthhouse Charity number 217154 OINdal office 12 Wooliams Vau8han Mead Redbourn Hertfordshire AL37 Independent emamlner Gilbert5 Chartered Acwntsnts Pendragon House 65 London Road St banS Hertford5fvre ALI IU

The Redbourn Charities Trustees, Report For the year ended 30 June 2024 The Trustee5 present their report and thnanrial 5tsternent5 for the year ended 30 June 2014. The financial statements have been prepared in accordance with the accounting policies set out in Dole I to the financial 5tatement5 and comply with the chariWs governi document. the Chariiies Act 2011 and "Acfounnng and Repon$ by Charities.- Statemenl of Recommended Practice applicable lo charlies pparIng theii accounts in accordance with the Financlal RepDrting Standard applicable in the UK and Repuwic of Ireland IFRS I021 leffecifve l January 2019).. ObjeCtiT5 and activitles The Redboum Charitfes is an unincorporated as%)ciation registered with the Charities Commission, number 217154. The main obRctlve of the charity is to PrOde affordable hous1 for indivithals through tht ust of Almshouses owned by the charity. The Charity expanded its activ¥ties in 2022. in response to the Challee$ bting experienced dut to th¢ etonomic dimate. tg include the followin8'. The Redbourn CommurAty Food aub was sei up in Dember 2022 to support residents in RedboLtrn. It opera5 on a membership basis and provides ongoing support thr(yJgh the provi%K)n of food and other essentials on a weekly bays. The Redbourn Christma5 Hamper Scheme was twanslerred into the charity in 2022. The stheme disiributes hampers to peoplelfamilies in need in the village at Christmastime. The charity also distribLrtes gifts at Christsna5 to a number ot pewe in Redbourn includlng those that have en bereaved. The Trustees have paid due rtgard to guidance issued by the Charity Commission in dechJinB what acliviti25 the charity should undenake. Achie¥*ments and perfOnan During the year the charlty generated income of £10558112023 £88.8541 from almshouse maintenance and expenses charges and in¥e5trnent rncome and £41.372 12023 - £27.7701 for the Food Club and Hamper Scheme. Expenditure on related costs amounted to £107,08212023 - £93.7781 and donations made were £97812022- £8651. In addition an internal donation of £1.11812023 - £2.0001 wa5 made from ihe general fund to the Food aub and El.(KlJ lo the Hamper Scheme. Thi5 resulted in a surplu5 for the year before maluaD"on of £38.89312023. £21.9811. Fan¢1 review The charitV'5 financial assets are held in a mix of investmerfs throuEh COIF and cash deposits and are reviewed on a regvtsr basis by the Trustees. The charity also owns land and bu1Ing$ whith generate rnaintenance and expenses income. Unrestricted funds comprise those funds whith the Trustees are frèt to use in accordan with the charitable objectfjves with the exception of ihe revaluation reserves whKh cannot be distribuled until realtsed. Unrestricted funds total £4,27S,39712023 - £4.145.6011 of which £3.873.52712023 - £3.773.6191 are rewalUaon ieserves. The total funds of the charity are £4.317.52212023- £4.178.7211. 5truclure• governance aThJ management The Trustees whD served duringthe year and up to the date of ygnaiure of the finanoal sMements are listed on page l. New Trustee5 are appointed by exi5ttn8 Trustees in accordance with the trust deed. The charity ensures that all new trustees are given sufficient training upon appointment by attending netin85 and reading ret hterature. The Trustees meet on a regular basis to discuss matters related to the rnnning of the Almshouses and other activities and to review the financial position ol the charitv. The Trustee5 have assessed the major risks io which ihe charity is exposed. in particular those related to the operattons nd hnances of the charity. and are satisfied that systeffls are in place to mitigate the charity's Èxposure to Majr iisks.

The Redbourn Charities Trustee5' Report (Continued) Forthe year ended 30 June 2024 Statement of Tru5tee5' re5ponsibillties The Trustees a responsible for prepaiin8 ihe Trustees. Report aryl the linancial statements in aCcdance wrth applicable law United Kingdtsm Accoun15ng Standards Iuniled Klrdom Generalty Accepted Accountin8 Piactrcel. The law applicable to charitre5 in England arnl Wale5 require5 the Tru51ees to piepave financlal 5tstefflent5 foT e3ch financial year which give a true and fair view ol the state of affairs of the charity and of the incominK resojrces and application of resources of the charity for th yeac. In preparine ihese fi.nancial statements, the Trustees a QUIred to.. - select suitable att¢"n8 polKies and ihen èppty ihem cOnsentfy- . observè the mèthods and principles in the Charilies SORP- . make jud8ements and ettimates that are reasonable and prudent- . State whether applicatAe accounti 5tandaid5 have been followed. subje¢t to any me¥ial depatwres dlsclosed and explaSned in the financial 5tatements.' and prepare the tinancial statements on the goi (oncern basis unless it is inappropriate to Presu that the charity will continue in operation. The Trusrees are iesponsible for keeping sli(nI accounThThE records ihat disclose WFth reasonable accuracy at any lime the tinancial posits.on of the charity and enable ihem to ensure that the ffnancièl staiements comply with the Chaiiiies A 2011. Ihe U)arity (Accounts and Reportsl Reeulall"ons 2(W)8 and the provisions of the trust deed. They are also responsible lor safèguarding the assets of the charity and he for taking reasona stéps for the prevtntfion and dètecOn of fraud and other irregularities. The Trustees. Report Wa5 approved by the Board ofTnJ5tee> Mr Davld Swift- Chairman Trustee Dated.. 5 November 2024

The Redbourn Charities Independent Examlner's Report To the Trustees of The Redboum Charltles We report to the Trustees on our exammatson of ihe financial statements ol The Redboum Charities Ithe charity) for the vear ended 30 June 2024. ResponsHJNltles and basls of report As the Trustees ol the charity you are responsible for the prtparati¢)n of the financial statements in accordance with the requlrements of the CharitiesArt 2011 (the 2011 Art). We rep)rt in fespert of our e¥aminatioD ol ihe than5 finanoal stements Car wt vnder sertion 145 of the 2011 A(t. In carrying out our exarnination we have followed all the applicable trection$ 8vien by the Charity Commission under section 145ISMbl of the 2011 Act. Independent examlner's ststemeffit We have completed ow examinanon We confimi that no matters corne to our attention in connec15on wlth ihe examinats.on eiving us tause to believe that in any material le$-. accountin8 record5 were not kept sn respect ot the charity as required ty strtion 130 01 the 2011 Act.. or the financial statements do nol accord vrrith those record5- or the financial 5taternent5 do nol Cp1V wrth ihe applicable reqLArernents concernin8 the forrn and content ol account5 SEt out in the Charitses IAccovnts and Reptrt51 Regulats"ons 20C6 other ihan any requirement that the accounts give a true and fairview which 15 not a matter Sidered as part of an independent examination. We have no concerns ènd have come across no other matters in connection with the examination to wlich attention should be drawn in this report in orderio enabk a proper understsnding of the finanu31 statements to be reached. Gilberts Chartereil Accounlanfs Pendragon House 65 london Iload St ban$ HertFordshire ALI IU Dated.. 5 November 2024

The Redbourn Charities Statement of Ftnanclal Activities Including Income and Expenditure Account For the year ended 30June 2024 Unre5tiictEd Ilestricted funds funds 2024 Total Unve5tr1cted funds 2023 Restricted funds 2023 rotal 2024 2023 Notes Income from: Charitable activities 80.228 25.353 41,372 lzi.fj 25.353 64.496 24.3S8 27.770 92.266 24.358 Investmenis Total Incomè IOS.581 41,3n 146.953 88.854 27.770 116.624 Expenthture on: Almshouse and Lytmjry Fleld costs Community Food Club Hamper Scheme Administation Expenses Donan'ons and gifts 63.596 63.596 26.802 7.683 9.IXII 978 fQ,818 60.818 17.935 6.871 .153 86S 26.802 17.935 6.872 9.rKIi 978 8,153 865 Total expenditure 73.575 34.485 108.060 69.836 24,7 94.643 Net In¢ome 32.rA 6,887 38J93 19,018 2,%3 21,981 Inlwnal donation between funds 12.1181 2.118 12.0001 Other rètognised gains and lossts: Revaluation of investments 99x18 17.079 17.079 Net movement In funds 129,796 i3101 34.097 4.963 39.060 Reconclliatlon of funds: Fund balances at l July 2023 4.145.1 33.120 4.178.721 4.111.504 28.157 4.139.661 Fund bakn¢es at 30 June 1024 4,275,397 42,125 4.317,522 4.145,601 33.120 4,178,721 The 5tèternent of finanual activities indudes all 8ains and losses reco8ni5ed in the year. All irrne and expenditure derive from continuing activities.

The Redbourn Charities Balance Sheet For the year ended 30 June 2024 2023 Notes FIMed assets Tangible assets Investments li 12 310,633 1.168.151 3,077,695 1.066,393 4.238.784 4.144,088 Current assets Oebtors Cash at bank and in hand 13 3.239 44,113 89.7 92261 47,352 credit5. arnounts falling due within one Far other creditors 14 13,523 12.719 Net current a55ets 78.738 34.633 Total assets less Current Ibabmlfjes 4.31712 4.178.721 The lunds of the ¢harity Restricted funds un5rri(ted ndS 15 16 41125 4275.397 33.120 4.145.601 4317.522 4.178.721 The fi'nancial statements e appro¥e by the Trustees on S r 2024 Mr David Swift- Chairrnan Trusteè es Twste

The Redbourn Charities Notes to the Financial statements Forthe year ended 30June 2024 A¢¢ountin¢ pollcles tharity informatlon The Redbourn Charities is a charity lstered in England. The address of the lsred office is 12 Woollams, V3u£han Mead, Redboufn. Hertfordshire. AL3 70G. 1.1 Accoun% conventlon The financi31 statements ha¥e been ppared in ar¢ordance with the Chèriiies Ari 2011 and "AcrDunttn8 and Reportin8 by Charities.. siatement of Rec(Knrnended Praclice apKable to tharitie5 preparing their account5 In accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 (effective l January 20191". The charlty is a Public 8eneh"t Entity as defined by FRS 102. The chaTlty ha5 taken advantage of ihe pwsions in the SORP for charities app**nE FRS 102 umla Bulleb"n I not to prepare a Statement of Cash Flows. The financial statements are prepared in sterli, whth is the fvnctional currency of the charity. Monetsry amounis in Ihese financial statements are rounded io the nearest £. The financial statements have been prepared vnde¥ the historical cost conventt¢)h, modifbed to intlude the rèvaluaiAon of freehold properties and to indude invemertt properties and eertain linancial instruments at far value. The principal accounting policies adopted art set tyjt below. 1.2 Goln8 concern At the time of approvin8 the financial 5tstements. the Trustee5 have a re350nable expeclation that ihe charity h35 adequate resource5 to continue operational existence for the foreseeable future. Thu5 the Trustees continue lo adopt the going concern basis ol accounting in preparin8the financial statements. 1.3 Income Intome is recognised when the charity is legal entitled to it after any performance conditions have been met. the amount5 can be measured reliably. and it is wobable that income will be received. 1.4 TangSble flmed assets Tangible ffxed a55ets are initialty measured at cost and subsequently measured at cost or valuation. net of dePlation and any impairnient losses. Depreciation 15 reco8ni5ed so as to write off the cost or valuation of assets $$ thelr residual values over their useful lives on the fDllowlng bases: Freehold lar and buildings Plant and equipmeni Not depreciated IOX straight line The gain or105s aring on the disw)sal of an asset is determined as ihe difference between the sale proceeds and the carrying vèlue of the asset. and is rÈttTr8nised In the Statement of financlal a(tsvlti"es. l.$ Flxed asset Investments The 'Charitie5 Official Investment Fund. accumulaiion shares. income shares and property shares are slN)wn ai market value and the 5urplus/ldelicbtl on revaluation is cded/1deb1teI to the 8eneral feseive.

The Redboum Charities Notes to the Financial Statements (Continued) For the year ended 30 June 2024 Attountlng P[cle$ (Connued) 1.6 lrnpairment offixed assets At each Teporting end date. the charity re¥iews ihe carrwng amounts ol its tangible assets io deiermine wheiher there 15 any indication that those assets have suffered an impairment loss. If any such irmlicafft.on exists, the recoverable amount of the asset is esDmed In order todetermine tht Èxtent of the impairrnent105$14f anyl. 1.7 Flnan¢lal Instruments Financial instruments are re£o8nised in the thanty'5 bèiance sheet when the charity become5 party to the corstractual provisions of the instrLment. Financial assets, whlrh include debtor5 and barsk bal3Ke5, and financial liaim'lities. which include creditors, are measurEd at transaction price. In¢kNnelrom Charitable acb¥ithes Unrtstrirte41 fvnds 2024 Total Unrestricted funds 2023 Aestrlrted funds 2023 Totsl funds 2024 2023 Almshouses iental income Lybury Field income Donations Food club grants and donations Food club membership fees Harnper Scheme grants and donations 67.866 1.150 11.212 67.866 i.lso 11.2lZ 613SI 1,150 62.351 1.150 995 24.358 10.945 24.358 10.945 12,766 5.71S 12.766 5,715 6.069 9.289 9.289 80228 413n 121,6 64,496 27,770 92,266 tiividend5 and interest 2024 2023 COIF Inte$t ieceivabje 24.395 958 24,216 142 25.353 24.3S8

The Redbourn Charitie5 Notes to the Financial Statements (Contlnued} For the year ended 30 June 2024 Almshouse and Lybury Field costs 2024 2023 Repairs and maintenance Depreciation and impairrnent Upkeep of garden and grotsnds Lighi. heat and water Insurance and monitoring tharges Salaries and other expenses 25.130 7,(2 5,374 12.479 3.163 10.388 25,643 7,062 5.056 10,676 2.267 10,114 63.5% 60.818 Community Food Club costs 2024 2023 set.up and ¥unning cost5 Food Other expenses 2.163 23.776 863 3.430 13.889 616 26.802 17.935 Hamper S¢heme costs 2024 2023 Food supplies Easter e885 Other expenses 7.58S 6.213 443 216 98 7.683 6.872 Admlnlstratt¢>n expenses 2024 2023 Salaries and general expenses Trustee indernnity insurance Accountancv 7.330 291 6.542 291 1,320 1.380 9.LKII 8,153

The Redbourn Charities Notes to the Flnanclal Statements (Contlnued) For the year ended 30 June 2024 Donation5 and gift5 2023 Redbourn Care Group St Mary'5 PCC Sundry gifts Christmas gifts 150 150 4SO 463 371 245 978 Taxatfon The charitv 15 exempt from ts110n rls athviiies because all its income is applied for charitable purposes. 10 Empknes The average monlhty number of employees during the ar was.. 2024 2023 Émployment costs 2024 2023 Wage5 and 5alarie5 14.520 13,436 .io-

The Redbourn Charities Notes to the Financial Statements (Continued) For the year ended 30 June 2024 11 Tanlible fixed assets Plartand and b115 Cost or Valuatlon At l July 2023 3,030,CO) 126,559 3,156,559 At 30 June 2024 3.030.C 126.559 3.156,558 Depreciation and Impalrment At l July 2023 Depreciarion charRed in the year 78.864 7.062 78 7,062 At 30 June 2024 85.926 8S,926 (•rry1 amount At 30 June 2024 3.030.C 40,633 3.070,633 At 30 June 2023 3.03D.(K 47,695 3,077,695 The freehold knd and buildi5 were professw)nally alUEd on 25th January 2018 by TMA Professional Service5 LLP, Chartered Surver$. The land at Lybury Lane Woollam5. Redboum was transferred to the charity on the 8th Aw5t 1964, together with the old Almshouses. No valuation was obtainefl at the date of transfer. The historic cost of revalued assets is E25.02012022- E25.0201 whtch represents the cos1 ol con51rucll0 of the new almshouses. li

The Redbourn Charities Notes to the Flnancial Staternents (Continued) For the year ended 30June 2024 11 Fixed a55et investments A¢uthul•iion Income shares Property fund Total Cost orvaluatlon At l July 2023 Addition5 Valuation changes 317.957 679.291 69,14S 1.850 13,6881 1.066.393 1.850 99,908 40.038 63,558 At aojune 2024 357 742J49 67.307 1.168,151 2024 2023 Hlstorfc cost of In¥estmeDts: Accumtslation shares Income shares Property fund 178.757 43.997 76.850 178,757 43,997 75.000 299.6Q4 297,754 13 Oebto 2024 2023 Amounts fall1 due wlihln one year. Prepayments and acuued income 2.46fj 3.239 14 Other creditor5 lallini th* withln one year 2024 2023 Accruals and deferred income 13.523 12.719 12-

The Redboufn Charities Notes to the Financial Staternents (Continued) Forthe year ended 30June 2024 15 Aestrlcied fd$ The funds of the charity ilUde re5tri(ted fvnds comprisin8 the followiTr8 donatr"on5 and grants held on trust f¢r spetific purp05e5: Balanceat 3Q Jun• IQ24 wal fund Capital lund Property eqJity fund Food Club Hamper kherne 3.137 2S.020 2546 2,417 3,137 25,020 12.165 1,803 35.303 6.C69 126.8021 17,6831 1.118 I,(J)o 33,120 41.372 134.4851 2.118 42.125 Capltal fund.. this represents a wft to rhe charity on 8 August 1964 Property equity fund.. thls repSentS the CDSI of construction of the new alm5house5 16 Unrestrirted lunds The unrestritted funds of the charity comprise the re4aluation re5eThE on propertie5 arml irwestrnents the 8eneral reser¥e fund. At I IY 2023 Incom1 Re50ufcE5 Donation to exPend food club and hamper stherne Revaluatlon At 30 June 2024 Revaluation-13nd and buildings Revaluation- investments General resei¥e 3..980 3.1)04.980 768 371.982 99,908 868.547 401.870 ll.581 173.5751 12.1181 4.145.601 .581 73.575 12.1181 99.908 4.275.397 17 Related party transxtlons During the year Mr Chriswpher Trim, a Trustee. was paid £nil12023- £1.7791 for decorating service5.