HENRY BURTON ALMSHOUSE CHARITY ANNUAL REPORT AND FINANCIAL STATEMENTS For the year ended 31st March 2024
HENRY BURTON ALMSHOUSE CHARITY ANNUAL REPORT AND FINANCIAL STATEMENTS For the year ended 31st March 2024 CONTENTS Page Officers and professional advisors Report of the Trustee Report of the Auditors to the Trustee 7-11 Statement of comprehensive income 12 statement of changes in reserves Statement of financial position 14 Statement of cash flows 15-16 Notes to the financial statements 17-25 The followin es do not fom statuto financial statements-_ artofthe statement of comprehensive income (detailed) 28
HENRY BURTON ALMSHOUSE CHARITY OFFICERS AND PROFESSIONAL ADVISORS For the year ended 31 st March 2024 Welsh Govemment Registered Number.. A085 Registered Charity Number.. 21731915 Trustee.. Melin Homes Limited Clerk to the Trustee.. Tom Broadhead Registered Offe.. Tyr Efail Lcywer Mill Field Ponty[l Torfaen NP4 OXJ Managing Agents.. Melin Homes Limited ryr Efail Lower Mill Field PontyFwI Torfaen NP4 OXJ Auditors.. Haines Watts Wales LLP Chartered Accountants & Statutory Audito 7 Neptune Court Vanguard Way Cardrfl CF 24 5PJ Bankers.. Barclays Bank PIC PO Box 1015 3rd Floor. Windsor Court 3 Windsor Place. Cardiff CF10 3ZL Soli¢ilors'. Blake Morgan Llys Tawe Kings Road SA1 Swansea Waterfront Swansea. SA18PG
HENRY BURTON ALMSHOUSE CHARITY REPORT OF THE TRUSTEE For the year ended 31 March 2024 The Trustee presents its reportand the audited financial stalements forthe year ended 31 March 2024. Trusteo The present Trustee is Melin Homes Limiled. Organisation and Structure The Henry Burton Almshouse Charity is a Registered Social Landlord governed by a trust deed. The Trustee aims to continue to let the 32 self contained units to the elderly. The Almshouse employs no staff as rt is fully managed by Melin Homes Limited. The Trustee is responsible for the running, administration and maintenance of its properties. Risk Management The Trustee reviews the Chaiity's activities at Board meeting5 and they have assessed the risks to which the Charity is exposed. As part of this process. the Trustee has implemented a risk managemenl strategy which comprises both financial control and stock rnaintenan. The Trustee acknowledges its responsibilty for ensuring that the Charity has in place a system of controls that is appropriate to the business environment in whiGh it operates. These controls are designed to give reasonable assuran with respect to- (a) The reliability of financial infomiation used. (b) (c) The maintenance of proper accounting records. The safeguarding of assets against unauthorised use or dbSPOSition. The Trustee has adopted a reserves policy considered sufficienl to fund future repairs to the properties. The Trustee is satisfied that adequate resources are available to continue in the foreseeable future and at present see no reason for the situation lo change. Objectives and activttles The objective of the charity is to benefit the almspeople being poor persons of good Character who (eXpt in special cases to be approved by the charity trustees} reside in the area of benefrt. The benefitting areas being CaeA¥ent, Monmouth and Newport. The activities this year continued to reflect the aims and objectives of the Charity. Central to this ethos was keeping Tenvservice charge levels at affordable levels, the properties well maintained and retaining a high occupancy rate, whilst maintaining the
financial well being of the Charity. The Trustees intend to continue running the Charity in accordance with its airns and objects.ves as outlined above. Public benefit We have referred to the gubjance contained in the Charity Commtssion's general guidance on public benefit when reviewing our aims and objectives and in planning our future activbties. We review our aims, objectives and activities each year. This review boks back at what we achieved and Ihe outcome5 of our work in the previous year. This review helps us ensure our aims. objeclives and activities are focused on our stated purposes. Investment Policy The Trustee has considered the most appropriate policy for investing funds and have found that specialised unit trusts designated for the Charity Sector meet their requirement to generate both income and capital grovAh. The inveslments have been valued as at the 3151 March 2024 and in total stand at £1,171.985. This is £112,665 higher than at 31st March 2023. £578,843 of the portfolio is held in Accumulation Shares and £593.142 in IncorrE Shares. Plans for future periods There are no planned future changes in the activities of the almshouses. Actlvlties and Flnancial Review for the year The Almshouse continued to let all 32 units during the year with voids amounting to £50312023.. £3.7511. The surplus for the year, was £136.365 (2023: deficrt £2.062). Responsibility of the Truste& The Trustee is responsible for preparing the financial statement5 in accordance with applicable law and United Kingdom Generalty Accepted Accounting Practice. The financial statements have been prepared in accordance with the Trust Deed, the Statement of Recommended Practice °Accounting for Registered Social Housing Providers" updated 2018. the Accounting requirements for Social Landlords registered in Wales General Determination 2015. the Housing Act 1996 and the Charities Act 2011. The Trustee maintains a system of intemal financial control, including suitable monitoring procedures to review its effediveness. The system is designed to manage rather than eliminate risk offailure to achieve business objectives. However, any such system can only provide reasonable, and not absolute. assuran against material misstatement or loss.
In fulfilling these responsibilities. the Trustee has reviewed the effectiveness of the system of idents'fying. evaluating and managing the significant risks on the basis ofthe principles of corporate governance contained in Community Housing Cymru (CHC) Code of Govemance and Welsh Government housing circular RSL 02110, Internal Controls and Reporting. The Trustee has considered all of the major business and financial risks. No weaknesses in internal control have been found which would result in any material losses, contingencies or uncertaint+es which would require disclosure as recommended by the above mentioned Circular. On the basis that a system can provmle only reasonable, but not absolute assuran and that it relates to the needs of the business. the system as a whole was found at the time of approving the financial stalements lo be generalty appropriate to the scale of the Trustee's acts'vities. In preparing those financial statements the Trustee is required to select suitable accounting policies, as described on page 9. and then to appty them on a consistent basis, making judgements and estrnates that are prudent and reasonable. The Trustee must also prepare the financial statements on the going concern basis unless it ts inappropriate to presume that the Charty will continue in business. The Trustee is responsible for keeping proper accounting records which disck)se with reasonable accuracy at any time the financial posilion of the Charity and to enable them to ensure that the financial slalements compty with the relevant legislation. The Trustee is responsible for safeguarding the assets of the Charty and hence for taking reasonable steps for prevention and dele¢tion of fraud and other irregularities. In so far as the Trustee is aware, there is no relevant audit infomation of which the Charity's auditors are unaware and the Trustee has taken all steps that they ought to have taken to make them self aware of any relevant audit information and to establish thal the auditors are aware of thal infom1atn. Auditors A resolution to re-appoint the auditors, Haines Watts Wales LLP will be proposed by the Trustee at the Board meeting of Melin Homes Limited. By Order of Melin Hornes Limited: acting as Trusts• Clerk to the Trustee Tom Broadhead 19 July 2024
Independent Auditor's Report to the Members of Henry Burton Almshouse Charity Opinion We have audited the financial statements of Henry Burton Almshouse Charity (the 'Charity') for the year ended 31 March 2024 which comprise the Consolidated Statement of comprehensive income. Consolidated Statement of Financial Posilion, Consolidated Statement of Cashflows and notes to the financial statements. including a summary of significant accounting policies. The financial reporting framework that has been applied in their pparatiOn is applicable law and United KingdomAccounting Standards, including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Iland (United Kingdom Generally Accepted Accounting Practice). In our opinion the financial statements: give a true and fair view of the state of the Charity's affairs as at 31 March 2024 and of its income and expenditure for the year then ended. have been properly prepared in accordance with United Kingdom Generally cepted Accounting Practi. and have been prepared in accordance with the requirements of the Charities Act 2011, schedule 1 to the Housing and Regeneration Act 2008 and The Accounting requirements for Registered Social Landlords General Determination (Wales) 2015. Basis for oplnlon We conducted our audit in accordance wtth Intemational Standards on Auditing {UK) IISAS (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the Parent Association in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK. including the FRC'S Ethical Standard, and we have fulfilled our other ethical responsibilities in accordancE with these requirements. We believe that the audit evidence we have obtsined is sufficient and appropriate to provide a basis for our opinKJn. Conclusions relating to going concern In auditing the financial staternents. we have concluded that the boards, use of the going concern basis of accounting in the preparalion of the financial statements is appropriate. Based on the work we have perfomed, we have not identified any material uncertainties relating to events or conditions that. individually or collectively, may cast
significanl doubt on the charity's ability to conlinue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue. Our responsibilities and the responsibilities of the board with respect to going concem are described in the relevant sections of this report. Other Infonnation The Board is responsible for the other infomiation. The other information comprises Ihe infomiation included in the annual report, olher than the financial statements and our auditor's report thereon. Our opinion on the financial statements does not cover the other infomiation and. except to the extent other*vise explicitly stated in our report. we do not express any fomi of assurance conclusion thereon. In connection viith our audit of the financial statements. our responsibility is to read the other information and, in doing so, considerwhether the other infomiation is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements. we are required to determine whether there is a material mtsstatement in the financial statements or a material misstatement of the other infomiation. If. based on the wotk we have performed, we conclude thal there is a matenal misstatement of this other information. we are required to report that fact. We have nothing to report in this regard. Opinion on the matters prescribed under Housing Assoclation Clrcular RSL 02110 "Intemal controls and reporting" In our opinion, with respect to the Board's ststement on internal financial control: the Board has provKled the disclosures required by the Circular and the statement is not inconsistent with the information of which we are aware fr¢)m our audit work on the financial statements. Matters on which we are required to r•port by exception We have nothing to report in iespecl of the following mallers where the Act requires us to report to you if. in our opinion: the Charity has not kept proper books of account, and not maintained a satisfactory system of control over its transactions. in accordan wilh the requirements ol the legislation- or the revenue account. any other accounts to which our report relates, and the balance sheet are not in agreement with the Charities's books of account. or we have not obtsined all the infonnation and explanations necessary for the purposes of our audit.
Responsibilities of the Board As explained more fully in the Board's responsibilities statement set out on page 10, the Board is responsible for the pParatIOn of the financial statements and for being satisfied that they give a true and fair view. and for such intemal control a5 the Board deteTmines is necessary to enable the preparation of financial statements that are free from material misstatement. whether due to fraud or error. In preparing the financial statements, the Board is responsible for assessing the Charity's ability to continue as a going cOnrn. disclosing. as applicable, matters related to going concern and using the going conrn basts of accounting unless the Board either intends to liquidate the Charty or to ase operations. or has no realistic alternalive but to do so. Auditor's responsibilities for the audit of the financial statements Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditorfs report that includes ouropinion. Reasonable assuran is a high level of assurance. but is not a guarantee that an audit conducted in accordan with ISAS (UK) will always detect a materlal misstatement when it exists. Misstatements can arise from fraud or errorand are consKlered rnaterial rf. indNidually or in the aggregale, they could reasonabty be expected to influence the economic decisions of users taken on the basis of these financial statements. Irregularities, including fraud, are InStanS of non-complian wtth laws and regulations. We design procedures in line with our responsibilities, outlined above. to detect material misstslements in respect of irregularities, including fraud. The extent to which our procedures are capable of delecting irregularities, including fraud is detailed bebw: Our planning procedures identrfythe legal and regulatoryframewotks applicable to the operations and financial statements of the Association. These are reviewed internally with the audit team including relevant industry experien and expectations as well as externally with the client management. The key laws and regulations we consTrdered in this context were: Financial Report Standard (FRS) 102. Charities Act 2011, Housing and Regeneration Act 2008 and the Accounting Requirements for Registered Social Landlords General Determination (Wales) 2015. Once identified, we assess the risks of material misstatements in relation to the laws and regulations, irregularities, including fraud and adjust our testing accordingly. Our audit procedures include..
Identify and assess the risks of material misstatement of the financial statements. whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evkIen that is sufficient and appropriate to provKle a basis for our opinion. The risk of not detecting a material misstatement resulting from fraud ts higher than ft)r one resulting frorn error, as fraud may involve collusion. forgery, intentional omissions. misrepresentations. or the override of internal control. Obtain an understanding of intemal conlrol revant to the audit in order to design audit prOdureS that are appropriate in the circumstances, but. except to the extent otherwise explicitly stated in our report. not for the purpose of expressing an opinion on the effectiveness of the Charty's internal control. Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made by the Board. Conclude on the appropriateness of the Board's use of the going concern basis of accounting and. based on the audit evidence obtained. whether a material uncertainty exists related to events or conditions that may cast significant doubt on the charity's ability to continue as a going concern. If we conclude that a material uncertainty exists. we are required to draw attention in our auditor's report to the related disclosures in the financial ststements or. rf such disclosures are inadequale, to modify our opinion. Our conclusions are based on the audit evidence obtained up to the date of our auditorfs report. However. future events or conditions may cause the Charity to cease to continue as a going concem. Evaluate the overall presentation. structure and content of the financial statements. including the disclosures, and whether the financial statements represent the underlying transactions and events in a manner that achieves fair presentation. We communicate with those charged with govemance regarding. among other matters, the planned scope and timing of the audit and significant audit findings, including any significant deficbencies in internal control that we identify during our audit. Despite the audit being planned and conducted in accordance with ISAS (UK) there remains an unavoidable risk that material misstatements in the financial statements may not be detected owing to inherent limitations of the audit, and that by their very nature, any such instances of fraud or irregularities likety involve Collusion, forgery, intentional misrepresentation, or the override of internal conlrol5. A further description of our responsibiltiies for the audrt of the financial statements is Ii)cated on the Financial Reporting Council's website at.. www.frc.org.uklauditorsresponsibilii*s. This description forms part of our Report of the Auditors. Auditor's responsibilities in respect of the Housing for Wales Circular HFW 02110 "Internal controls and reporting" We review whether the Board's slalement on intemal financial control reflects the Charty's compliance with the Housing Association Circular RSL 02110 °Internal 10
controls and reporting" and we report whelher the statement is not inconsistent with the information of which we are aware from our audil of the financial statements. We are not required to form an opinion on the effectiveness of the Charity's corporate governance procedures or ils internal financial control. Use of Report This report is rnade solety to the Pant Association's members. as a body, in accordance with the requirements of the Charities Act 2011, the Housing and Regeneration Act 2008 and The accounting requirements for Registered Social Landlords General Detemination (Wales) 2015. Our audit work ha5 been undertaken 50 that we might stste to the Charity's Trustees those matters we are required to state to them in an auditorfs report and for no other purpose. To the fullest extent pemitted by law, we do not accept or assume responsibility to anyone other than the Charity's members as a body, for our audit work. for this report. or for the opinions we have formed. Haines Watts Wales LLP Statutory Auditor 7 Neptune Court Vanguard Way Cardiff CF24 5PJ Date 1£ 7,21
HENRY BURTON ALMSHOUSE CHARITY Statemènt of Compr•h•ngl•n In¢om¢ Fof tho y•ar endj 31st March 2024 2024 2023 Turnor 156.406 143 910 1133.4191 1140.378) Op¢Ating surplu$ 2.987 3532 Movement in law value of fyi81 Inslnm8nts Inlerest 1¥able and wmilar Inccffie Inleresl payth and smiL¥ thargos 96,198 18,216 11.036} 120.9911 16.397 11.0001 Surplus lor the year belore taxatlon 136,365 12.0621 Taxabon Surplus for the year after taxati 136.365 Total Comprehenslve In¢ome forth ar 136.365 I2.> CONTINUING OPERATIONS None ofth¥ assLKJabon's athwbes ere acqwred or disrAJnbnuèd durffj U)8 ab financial years Th& financlal 5fatwnents re approved by the Tntstees 17th Juty 2024 pre ¥ned on ils by Clerk to the Truste¢ Tom Broadhe•J The notgs on pages 9 to 18 fomi part ofthe finanual stst8m•nts 12
HENRY BURTON ALMSHOUSE CHARITY Stat•m•nt of Chang•s In R•s•r¥•s For the year ended 31st March 2024 R•s•rvts Exlr•owdlnary Repalr R•sttict•d Unrestrict•d R•w•nuo Total At 1st April 2023 Deficit trorn statement of mpren$[e Incryne Tiansl•rs lo r&stnct8(1 805.320 533.636 136.365 (16.4671 1.338.956 136.365 18.467 Tiansler ol R8valuation on Restrthj sharns 98.198 {96.1981 At 31st March 2024 917.985 557.336 1.475.321 The use ol Ihe Extraordinary Repair Restr£led Reserve Is re5trKled by ttus sclwe toexpendlur• on extiaoidinary repair. impro¥ern¢nt N rebu4th"TrJ of the Almshwses. The £917 985 value ofthe Serve Is reprèsartd by investrnents with a htstolic fAlSt of£201.621 aThJ an altsed suWu5 on inbpstments of £716.364 ofwhth a defiGt of £96.198 occurred In 202Y24. 13
HENRY BURTON ALMSHOUSE CHARITY Statoment ol Flnandal Poskion As at 3151 MaT¢h 2024 2024 2023 Flx•d As$¢ts Buihling lrnprovernents - gros5 Cost l•s$ depr•tsaion 324,709 324,709 340.538 340,538 In¥estrnents 1.171.985 1.496.694 1.059.320 1.399.858 Curyent assets Debtors Cash at Bank 5186 152288 157,474 173.001 179.301 Current liablitles CrÈditors amounts faling due vlJwn one year Grants amounts falling due withn year 144 4331 114 581 159,0141 147,4271 14.581 162.Crf)8 10 120 287 95.466 Net current ass•ts Tot assets less current Ilabili1105 1.616.981 1,495.324 Non.¢urroni Ilabllill•s drtors.. wunIS falkng due afttr n>Jrè than one yeai Grants amounts I19 due after Ihan one year 10 10 10,8361 1130.8241 1141.e601 110.9631 145.4051 1156.3681 Pro¥lslons for Ilabllltles and charges Net asset5 1.475.321 1.338.956 Capltal and R•s¢rv•$ Restncted ReseNe Revenue Re5ewve 917,985 7.336 805.320 $33,636 1.475 321 1.338.956 The finar1 statements wtre apwved by rwstee 17th Juty 2024 and were svJned on lis b•ha¥ by aerk lo lh8 Trustee Torn &o&lhead Th8 notes on pages 9 to 18 fomi partoftha fmarwial slatements. 14
HENRY BURTON ALMSHOUSE CHARITY CASH FLOW STATEMENT Yoar Ended 31 March 2024 12rn ended 31 Mar 2024 12m ended 31 Mar 2023 Note Net cash Inflow from operaling activities 24.730 21.726 Returns on Inv•slmenl and sorvicing of finance Interest paid Interest received Tax paid Net cash inflowl(ouffiow) from returns on Investmènt ar servicing of finance {1.036) 18.216 {1.000) 16,397 17.180 15,397 Capital expendlturè and financial Investment Purchase of inv8slments )vemment granls received Grants repaid Purchase of components Sale of investments Sale of housing properties and fixed asset inveslments (32,128) (22.8951 (4,614) 15.661 (66.1641 51,702 Homebuy loans Net cash Inflowl(outhow) from Invasting activities 121.081) 137.357) Free cash Inflowl{outhowl before financlng 20.829 (234) Financing Housing loans received Housing loans repaid Frèè cash loufflow)finllow from financing (116} (116) (105) (105) Incroasè in ¢a5h 20.713 (339} 15
HENRY BURTON ALMSHOUSE CHARrrY RECONCILIATION OF THE OPERATING SURPLUS TO NET CASH INFLOW FROM OPERATING ACTIVITIES 12m ended 12m ond•d 31 Mar 2024 31 Mar 2023 £'ooo 1 Qperaling surplus Depreciab'on of tangible assets Surplus on sale of assets lincreaselldecrease in debtors increaselldecreasel in creditors Increase in sttxk Non cash movement in penyon Amrtisabon of grant Net cash inflow fr( operattrwj xliviiies 22,987 20,443 3,532 20.439 {1.114) {3.LK15) {157) 12,493 (14.581) 24.730 114,5811 21.726 RECONCILIATION OF NET CASH FLOW MOVEMENT TO MOVEMENT IN NET DEBT 12m ended 12m ended 31 Mar 2024 31 Mar 2023 £'ooo £'ooo 2 (Decreaselllncrease in cash in the year Cash inflow from changes in debt Non cash mvement on debt m0verr1 in nel debt in the FerK 20.713 116 (3391 105 20,829 (2341 Net debt at start ol year 141.209 141,443 Net debt al end of year 162,038 141.209 3 ANALYSIS OF CHANGES IN NET DEBT 31 Alar 2023 Cash flows Non cash 31 Mar 2024 rooo rooo amendments Cash in hand and al bank 152.288 152,288 20,713 20.713 173.001 173.001 Debt due in less than one year Debt due in rnre than one year {1161 (10.*31 111) 127 11271 (10,8361 Balance al end of year 141.209 20.829 162,038 10
HENRY BURTON ALMSHOUSE CHARITY NOTES TO THE RNANCIAL STATEMEMTS For Ihe year ended 31st March 2024 Prfndpal Ac¢¢wnllno Pollcl Ball• of Actounilry The financaal statement$ a kvepare(l underthe h01 ojst conv•il. except for tho inv•stm•nis which are slated at open Maet value The staternent5 are prepared in arxordance wlh appkablt finantsal reportiNJ standarijs m the UTh Kmgdom. I[dIng Slatement ol Recornmanded Practice for"Accounting by Régisi•f8d Social Housing ProvbJe¥s" as wdaled in 2018 {SORP 20181 and oynply vAth the Ac£ountsNJ ReqU1MentS for Soual Landl¢yds Regstered Wales Ge[al Deternat)n 2015. Tumov¢r Tumover cornpwises rent and seThkX chaffJes Taxatlon Henry Burlon Almshouse is regtster&J ¥th dMiitabl• siatus. h befil5 from rporalKIn tax exemptK)n5 availabk lo Charitae bods On ba$1$ that its adiviis f81 h1n rts chanie purpo8e$ arkl its fuThJs are ¥JpIEd oThly for these purposes, no w)vigoD lor corporatw tsx is made InStMentS The invesmenls are mana9ed by professN)nal manJers. The portfokn) 1$ structu to previde incom• to help rneet the obJe(aNes of the charty. The in¥e5tmenl perfCn 15 monrtored each >tar adjustmwt$ rnade to corr•ctty refiect lh• euThent vabje n the acAts. Mortgagos Mortgage bans are •Jvanwl by Nalk)n81 Weslmw)sler Bart Pk Markets a$ Fresh PLC uncler the terms of Indval rn0rt9age deeds in respect ol th• htyjsing scheme AdVanS a availabk onty in respgct ol Ihose devekJwllent5 which hav¢ be¢n wen •pprov4 Soo81 Hous¥YJ Grant by Ihe We4h Government So¢lal Hou$lny Gr4nt Social Housing Grants ISHGI are made by thè We15h Go%pen1 a ulled to redue• the amcunt of mortgage ban in respect of an approved scheme to the amounl il Is e5bmated can b¢ serviced by the net annual incorn? gf Ihe stherne The amount of SHG i% catulated on the quabfyiThJ costs of the s(eme in accordan wlh instrudions iss frijn to tsm• by thè WtL8h Governm•)t The grant5 are paid direcl lo the lending authorily aTrJ affj r•flèded in tht fmancaal slatements of the Assooation onlywh8n the payment has been Tllade an¢J the relevant rnorlga9e k)an re¢luced. SHG L8 repayable undef certain uroJmstance6, primarily folowing Ihe sale of a properly but w41 rLorynaly be SIrb¢led 10 Mt woceeds of sa. Grants CeIve(l in laIN)n to Hj$9 Proptrts are sh0kn ithffi editOrS and disdosEd as Deferred Income et of amortisalion. Grarts rKeived of a revenue nature we taken straightto the 8tatemenl of wnprehenswe mcorne. Grants he&J as deferred Corne ale rel?ased over tl usefil lrfe ofthe o)mw)nent to they relate. accordance with the deprecitaM)n poky set tek)w. Houslng propertie8 . fixed uset caphallsatlon and d•wrtlation Oepreciation is ¢harged on the historic cost ol prop•ty c(¥rponent5. Granl ts allocated to the main strudurè ¢f Ihe property as well as to other compon•nts. Thè dèprtt1ab rnnt r& wntlen off over Ihe estimated useful Ives from the date of wchasWbuibJ. Fo)wing thè implernentatti)n ol awxml¥vJ, ortain componen1¥ of re$thtial propert wrth assèt vés which are different to the main strucIu. or shell. ol Il¥Jse prope have keen seperalely antIfied for depreciatlfm purposes. On replaeernent ol suth assets tke Or1 asset LS wnlltn off and the repL1ment asset is caprtah*d and dèpreciated over its useful life. On impfementiivJ thang? in accounting policy Ihe dtprètiaiion charges on al residentsal prcyertes have been reinslated as JI the polw had athys bo8n applit replqcement ¢omp)nenls pyOUSty lIten off as major iepair5 have teen wlaled as fixed assets and compoDents whKh hav• ba•n I•&ced have been wnitten ori. 17
HENRY BURTON ALMSHOUSE CHARITY NOTES TO THE FINANCIAL STATEMENTS For thg year ended 31st March 2024 19. Cld. Depreryat clwged on cost on è Strah1 Ime basLS overthe expetsd useful "fe a5 1011 Buildin9 structu kss SHG -%oncosi Window000[5 Roots Balhrooms Krt¢hens H•atino Syst•n Boler 667 6.67 667 Hous9 propertes a r Pa11ment on a traso Vine there eviaen¢x oi Impairrneni. opertyes are knllen to imr value Extraordlnary Repalr Restrl¢ted Reser¥• The provisions of Iht Charity Ctynmisswjr Scheme reguiathJ Chanly state that a transler to this fund oul of th• Inccwne of the Charty must be made and a CLYrespoFKl•w Investment made in aCCAJmulatb)n shares. Th r•valuatw)n eknienl of these sha8 has been Inrjuded SerVe gn 1st A1 1999 to compty with the Statement 01 Rèeommendecl Pitice Plr lo this rt was Led In the investment revaiuat4on reserve The use of the fund 15 restncled by thF s(eme lo expulrture on the extraordmary rèpair Improvement or reburfding of the Aimshou5es Bas1$ ot preparatlon The fwntyal statèments have W ¢wared on a going crTr bass The TrLLBt•e has revwed aThJ onsKlered r8le¥ant Informi¢)n Ir¥Klry the annual bil9el fvture cash fl¢*s m makry rts assessment 18
HENRY BURTON LM8HOUSE CHARI NOTES TO THE FINANCIAL STATEMENTS For the year eje 31$1 Math 2024 210) Turno¥•r, Op•rallng ¢o¥l$ •nd Op•rallng suwus Fully rented housing accornrn¢>dallon 2023 Tumov•r Operaling Operatlng Tumo¥or Optrating Operallng osts Suvplus Co$ts Surplus Sots'al housing Jèth"r@s (Notè 2lbll 1,4(6 1133 4191 22.987 143.910 {140 3781 3,532 156.4rfi 1133.4191 22 987 143.910 1140.3781 3,532 2 Ibl Income and expendllure from social housKng Ipmlngs 2024 2023 reds aThY Olher soE¢l sheliered SuppDrted hous letbng Jsing Hou$w in¢omè To1 Total Incomo Rent receivab Serwce charge$ Incon Inco for 5UPPOrt ser¥K8s Other renue grants Amornsed Grant 131.289 10.S36 131.289 10.536 120,043 9.286 14.581 14.581 14.581 Turnover frc¥n soaal housin9 leltiTh 156.4C 156.406 143.910 Cost Manageftnt fee Serwce tharge costs ROu1e maintenance Major repai exp8nditure 8ad dèbts DepreciatJn of housing woFertes Impairment of housing pr)ertIeS Other cost5 37.558 15,526 49.752 281 37 S58 15 526 49.752 281 36,464 14,919 57,S74 3,960 1891 20.439 20.443 20 443 9.718 9.718 7.011 Op•ratln9 ¢0sts so¢l•l hou$ing •¢b¥i 133,419 133.419 140.378 ol0rg su¥5 soc41 housin9 lelW$ 22.987 22 987 3.$32 Rent loss due to vovts IrTEfTKyandurn rK>lel 552 552 3.751 19
HENRY BURTON ALMSHOUSE CHARITY NOTES TO THE FINANCIAL STATEMENTS For the year ended 31st March 2024 Operatlng surplus 2024 2023 The operating surplus is stated after charging:" Depreciation 20,443 20.439 Bad Debt Provision 141 (89) Auditors. remuneration In their capacty as auditors 4,320 4,296 Interest receivable and similar income 2024 2023 Income from hire of communal hall Income from listed investments Income from building society account Sundry Income 17.931 285 16,182 215 18,216 16,397 Interest payable and slmllar charges 2024 2023 On loans repayable in instslments wholly or partly in more than five years 1,036 1,000
HENRY BURTON ALMSHOUSE CHARITY NOTES TO THE FINANCIAL STATEMENTS For the year ended 31st March 2024 6 Tangible Fixed Assets - Building Improvements 2024 2023 Cost At 1 April 2023 Component Additions Componenl Disposals At 31st March 2024 922.577 4,614 856,413 66,164 927,191 922,577 Depreciation At 1 April 2023 Charge for year Component Disposals At 31 st March 2024 582,039 20,443 561,600 20.439 602.482 582,039 Net book value At 31 st March 2024 324,709 340,538 Major works revenue items relating to existing housing stock £0 21
HENRY BURTON ALMSHOUSE CHARir NOTES TO THE FINANCIAL STATEMENTS For the year ended 31st Marth 2024 7 ed Investments MaG Charty Muli Asset Ac07. ERF M&G Charity Multi Asset Ac¢um. ERF CO.IF Accum. ERF No. C.O.l.F ERF Al 1st April 2023 Additn$ tlsposals Revaluation 377.048 1.343 144.590 (02) 115.661) 45,743 9.321 At 31st M3r¢h 2024 1,584 407,130 153,911 M&G Charty Mulb Asset In¢off M&C Charty Multi A5se¢ Income C.O_l.F C.0 l.F. IrK0 No. Al 1 st Apiil 2023 Adth'knons thsposals Revaluation 21.726 1.588 407.fffj7 32.128 128,464 114.744 37.160 2.043 At 31$1 March 2024 23.314 476.355 128.484 116,787 COl.F Acujm CMF No. CO.IF A¢¢un. CIAF Total Listed Investrnents At 1 st April 2023 Addjlions Disposals Revaluation 15.871 At 1st Apnl 2023 Addthons Disp05a15 Revaluats'c 1.059.320 32,128 115.6611 96,198 1,931 Al 31st March 2024 17.802 At 31st March 2024 1.171.985 Z024 2023 M&G Charity Muth. A55et Inco Sh M&G Charity MLltI Asset AcnNatn Shares COIF Income Shares COIF AccLwllLAation Shares 9091 p 11.460.81 p 2.043.26 p 25.7C6.68 p 89.32 p 1D,766 74 p 1,673.66 22,917 11 p Histofical ol Investwnts £357,093 £340,626 22
HENRY BURTON ALMSHOUSE CHARITY NOTES TO THE FINANCIAL STATEMENTS For the year ended 31st March 2024 8 Debtors 2024 2023 Rent arrears Less: bad debts provision 807 1.842 {953) 689 807 407 5.086 SeNice Charge Debtor Prepayments and accrued income 4,497 6.300 5,186 9 Credltors: Amounts falling due within one year Prepayments of rent Sundry creditors and accruals Service Charge Creditor Fresh PLC loan due within one year 2024 2023 9,788 34.518 11,407 35,512 392 116 127 44,433 47,427
HENRY BURTON ALMSHOUSE CHARITY NOTES TO THE FINANCIAL STATEMENTS For Ihe year ended 31 st Pkrch 2024 10 Credltors: Amounts falllng due after morg than on• year 2024 2023 Housing loans 10.836 10,963 The loans advanced by Fresh PLC to finarKe the improvements to Ihe Almshouses are secured by SEecrf charges on the Char"Ws properties. They are repayable as follows In bi-annual insuments over 30 and 60 years, Interest being charged at VIng fixed Interest rates ranging from 9.3759h to 9 875% per annum, the last instalments falling due been 2018 and 2048. 2024 2023 One year or less Betsveen one and year5 Beeen the arKI five years In five years or more 127 139 703 9.994 116 127 458 10.378 10,963 11,079 Gross grant credltor Al 1 Apnl 2023 Additsons during the year Comwnenl dispDSals At 31 March 2024 613.792 613.792 613.792 613,792 Am¢rtl$atlon At 1 April 2023 Credit for the year Component dsalS Al 31 Mah 2024 453.8C6 14,581 439,225 14.581 468,387 453.8C Net grant crodltor Al 31 March 2024 Al 1 Aprd 2023 145,405 1599 159,986 174,567 Amounts falling due: Within one year or less 8etMRen one and years Betfften five years In five years or more In more than one year Total grant credltor 14.581 14,581 43,743 72.500 130,824 145.405 14.581 14,581 43,743 87.081 145.405 159,986 11 Provlslons for liabllltles and charges There are no provisb)ns for lialN"h'bes and charges required in the year (2023.. nil) 24
HENRY BURTON ALMSHOUSE CHARITY NOTES TO THE FINANCIAL STATEMENTS For the year ended 31st Mareh 2024 12 muMr of Unlts in Manag•m•nt 2024 No. 2023 No. At beginnin9 and end ofyear 32 No. of units managed by other bodie5 NIL NIL 13 R•glstratlon The AlmshouiÈs are wi51wed with the Charity Commiss15 aThJ the Welsh Govemment 14 Social HI91n9 Grant The total eumulalive amount ol Social Hwsrffj Granl recewed by the Association is as folows". 2024 2023 Socol Hotssing Gr8nt 764224 764224 15 TruSt$1P As the Managing Agt, Meh'n Homes Limited tharged a total of£37 558 In lees to Henry Burton Aknshouse Charty thJriNJ the current year to 31st March 202412023.. £36.4641. The was a balance On9 01 £28,838 as at 31st March 202412023.. £29.8871. In tolal mel invoiced expendire lotaling £104.64S lo Henry Burton Aknshouse Chanty Iluring the cuiienl year to 3151 March 202412023'.£173,5701. No remuneration was paid lo LThrfed for its rc4e a8 Ihe trustee during the t)Jrrent year to 31st Marth 2024 or the pre¢odThJ yeai. M$lN) Homes 8$ the sole trustee the ullwnate parent reSpOnstyf0r Henry Burton M$1u$¢$ Chanty. 16 Contingent Liabilities As stated in the aCCnting Fdicies. sooal housing grarf is repayable n certain cjrcumslances and ther•for8 any amounts V+Yitten off coukd bè liablè lor rèpay[ The 8mount lo date that the Assoaalion nw need lo repay should thesè cir¢umslanGes arise i5 £527.827.
HENRY BURTON ALMSHOUSE CHARITY NOTES TO THE STATEMENT OF COMPREHENSIVE INCIJME ACCOUNT For the year ended 31st March 2024 Not¢• 2024 2023 Income Tvrnovèr 156 4L 143.910 156 4r 143.910 Operating costs Managemtnt fÉ• Water Rates Oay to day rèpairn Major Ropairs Service costs Cyclical maintar¢O Bad debts Depreu8tion 5Ufanee Audrt fee Lègal F8•s Sub5cnptnS AdrtIs,j Minor Scheme Inventory <£1 Sundry Charges 37.$58 36.464 49.752 281 15.526 57.6D2 3.960 14.919 72 1891 20.439 2.280 4,296 20.443 2.324 2441 541 315 120 133.419 140.378 Operat¥lg surpkn5 22.987 Intsr•st r•c•lvable and slmllar Income Mistaneo Ine Interest from investments 8ank & Building Society deposit Interesl Sundry Income 17.931 285 16.182 215 18.216 16,397 41.203 19.929 Internst payable and slrnllareharys 11.036} 11.OCOI Surplus for the year 40.167 18.929 Mo¥emont on tsir Val of Fmonoai Instrunwnts 7 96.198 I20.1) Surplus1 Ideficitl forlhe year 136.365 12.C621