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Chartered Accountants & Statutory Auditors
Powell and Welch Almshouse Charity
Charity registration number 218268
Financial Statements
Year Ended 31 December 2023
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Powell and Welch Almshouse Charity
Charity ￿giStratIon number.. 218268
Financial Statements
Year Ended 31 December 2023

Powell and Welch Almshous• Charity
Flnancial Statements
Yèar Ended 31 December 2023
Contents
Page
Twstegs. Annual Roport
14
Accountants Rgport
Statement of Flnanclal ActlvitSe¥ (Incorporating a Revènue Account)
BalanGe Sheet
Not•8 to the Flnanclol Statem•nts
8-13

Accountants Roport to the Trustees on the Unaudlted Flnancial Statements of the Powell
and Welch Almshouse Charity
Admlnlstratlve Informatlon
The Charity is regulated by the Charity Commission and its registration number is 218268. The fvll name of
the Charity is The Powell and Welch Almshouse Charity and its contact address is Ashgrove, Ashby Lane,
Bitteswell LE17 4SE.
The Clerk to the Charity is Mrs J Ethyards.
Trustees of thè Charlty
The Iruslees who have served during the year and since the year end were as follows-
Mr M Gordon {Chair)
Mrs J Edward$
Mr K Pallon IT￿aSurer}
Mrs P Beason
Mrs C Love
Mrs B Higgins
The Charity is affiliated with Ihe National Association of Almshouses.
The Charity had the following professional advisers..
Reporting Accounlanls PWH Accountancy Limiled
The Counting House
High Street
Lutterworth
Lerceslershire
LE174AY
Bankers
Bardays Bank Pl¢
Leice51er Haymarkel Towers Branch
Leicester
LE19 1RJ
ObJ•ctlvo8 and a¢tlvltles
As a modern almshouse charty. we provide affordable hwsing in a rural area for I￿1 people who are in
need. Our residents are elderly people of limited means who are accepted as almshouse resi(Jenls due lo
their circumstances and their Inability lo fund a home from their own resources.

Accountants Report to the Trustees on the Unaudited Flnancial Statements of the Powell
and Welch Almshouse Charity
Review of the Year- 2023
The charity has a stable tearn of Trustees who ¢arrie(l out the foll¢)wing r(Jes in 2023:
Mike Gordon (Chair)
Ken Patton (Treasurer)
Jane Edwards Iclerk)
Pippa Beason (Maintenance)
Bridget Higgins Imainlenancel
Carolyn Love (Resident Welfare)
Nigel Byard {Reclor of Lutterworth with Cotesba¢h and Bitteswell in the Diocese of Leicesler.
joins for AGM only)
We have arranged for each of the six main Trustees to attend the Almshouse Association's one day training
course in May. so we are up lo dale on the role of Ihe Trustee of an Almshouse charity.
This training session is also being made available lo the TN$lees of the Amshouses within a 1 Okm radius of
Billeswell.
FSnan¢o8
Under Ken Pallon's stewardship, the Finances of the charity continue lo be in a healthy position, and the
loans that were required in prior year$ will all have been fully repaid by April 2024.
In view of the financial position of the Charity and the general increase in the Cost of Living, the Trustees
again decided not lo raise Ihe Weekly Mainlenance Contributions IWMC'S) for residents in line with the
Home$ England inflalion formula in 2022. WMC'S are Iherefoffj still maintained al their 2021 level.
Malntenance and ProJ•¢ts
The charity continued lo maintain all th8 properties Ihrough(yJl the yoar, using appropriate Irade$men for a
wide variety of tasks lo ensure that the properties remained in good order and continue lo offer a high
standard of accommodat￿n for our res￿ents.
Pippa Beason continues to do an excellent job managing the maintenance programme$ on the properties,
supported by other Trustee$. in particular Bridget Htggins, when reouired.
The major project carried out in 2023 was the ￿placeMent of the kil¢hens in the Powell Row properties. I
would like lo thank all the Trustees for Iheir support for this project, particulady Br￿get Higgins who
coordinated all aspects of the replacement work on behalf of the charity.
Resldents and Wolfar•
There were no changes lo the re$idenls in 2023 and the ResHJents' Handbook did not ￿QUire any update5
during the year.
The Trustee's agreed or￿e again lo decorate the hedges on both S￿e$ of the Queen's Gateway with
Christmas lights. The Residents were also provided with Garden Vouchers as a Christmas present from the
Trustees.
Mike Gordon
Chair of the Trustee$
Powell and Welch Alm5hous8 Chanty. Regislered Chartty No 218268
14
ebwary 2023

Accountants Report to tho Trusts•s on the Unaudited Flnanclal Statèments of the Pow611
and Vvelch Almshouse Charity
Financial revlew
Once again the external economic climate in 2023 was very difficult but, never the less. the Charity's
finances were still solid and showed a healthy p￿vre with nel funds available of £197.501 against last year's
£193,822.
Funds held by M&G Mulli£harty Investrnenls amounted lo £150,106. Barclays Bank £12.275 and Charity
Bank £35,000 at 31# December 2023.
Inleresl free loans of £1,250 were outstanding at the year end, and they will be fully paid off by the end of
March 2024.
Although there were no plans for major investments in 2023, we did, in fact spend £36.000 refurbishing the
kitchens of all six houses on Powell Row.
Plans for futur• porfods
There are no current plans for major investment in 2024, and the main driver of expenditure wlll continue lo
be the implemenlalion of the recommended issu&s raised in the last Quinquennial Review
Mr K Pallon ITrea$urerl
Date..
,1212

Accountants Report to the Trustses on the Unaudited Financial Statements of the Powell
and Welch Almshouse Charity
Trusteos, responsibilities
The trustees are reSpOn￿b￿ for prepariThJ the TfUStees' knual R8POrt and the finanaal statements in accord8n¢g wlth
applicable law and United Kirudom Accounting Startlards IUnit811 Kingthm Generalty AccEpted AccountiThJ Pr8cti¢e).
The law appliCa￿e to chanties in England & Wal8sINothem Ireland requi￿S the trustees to prepare fjnancial ststements
for each financial year which gtve a true and fail vi8w of the state of affairs 01 thè charity and of the incoming resour¢&s
and application of resources of the charity for that Feriod. In preparing Ihese finanaal statements, the trustees 8re
required to..
select suitable accountrng OKies and then appty Ihem con&stently;
observe the methods and principles in the charit￿ SORP 2015 IFRS 1021:
make iudgernents and estimates that a￿ reasonabk and prudent.,
state whèther applicablè accounting slandards have been fdlow8d. subject lo any m*9rial dep8rtures
disclosed and explain8d in lh& financkal ststements-
prepare Ihe finawal statements on the gc¥ThJ concem basis unless 11 Is inappropriate to presume Ihat
the charity V￿11 ¢onltnue in Opefation.
The Injstees are reSp￿$bI¢ for koepiThJ proper accounting records that disdostr with rgasonable accura¢y 818ny lime
the financial ￿tIon ol tha charity and enab￿ them to ensure thal the finan(ial statements comply the Ch8ri1185 A¢t
2011. They are also respon￿ble for safeguardiTrJ the assets of th8 charity and horKo for laklng feasonable steps for lh&
prevention and dete¢tion ol fraud and other iThegularitses.

Accountants Roport to the Trustees on tho Unauditod Financial Statements of the Powell
and Welch Almshouse Charity
We fep(rt oft the ffinanryal statements for ts year ended 31 Decefft￿r 2023 set out on th8 pago5 below.
Re$po¢tiv• r￿pOnsIbIlItIeS of the Trustees and R•portlng Acc4>untsnt
The Truste88 are reSpOn￿￿e for th8 Preparalion of the financial statements. and they consKJer that The Powell 8nd
Wèlch Almshouse Charity is exenyt from an au¢Jt. h 15 our Tespongbility to cary pit prcKedureB designed to ènable tjs to
report ovr opinion.
B•$l$ ¢f oplnlon
Our pro¢odure8 consisted of compariThJ the financlal statements wilh the ￿4)unting records kept The Pow611 and W8lch
Almshouse Charity and making such enquiries of the officers of The PO%￿11 and Wekh Almshouse Charty as wè
nsidered necessary for th& pu￿ of this re[￿. Thgse pr￿dureS prowde onty the assurance expressed in our
opinion.
Oplnlo
In our opknion..
the financial statements fof th& yoar ended 31 December 2023 a￿ in accordance th8 accounting r￿r￿S kept
by The Powell and Welch AlmshoLsse Charity under paragraph 135(21 of ihe HousirrfJ and Reg&neration Act 2008..
h8vlng regard only to, and on the ba￿$ of Ihe infomiation contained in the accounting records..
the statement of ffnanclal aCti￿tieS and bala￿0 sheet compty the requirem8nts of the Charflles Act 2011.,
the Powell and Welch Almshouse Charity has Satisf￿ th8 Cond￿On$ for exemption from an audit of Ihtr
financial statements lor the year ended 31 Cttember 2023 specified In Sectlon 163(31 of th8 Houslng and
Regeneration Act 2008., and
the financial statements Cofrffjjty ¥￿th the foquirnments of the Housing R8pnern￿cffj Act 2008 and the
Accounting Direction for Private Regisiered Pmviders for Soaal Hou￿ng 2012.
PWH Accvuntsncy Llmlt•d
Reporting Accountanis
The Counting HoLbo8
Htgh Street
Lutterworth
Leiceslershlre
LE17 4AY

P¢)well and Welch Almshouse Charity
Statement of Financial Activities for the Year Ended 31 December 2023
{incorporatlng a Revenue Account)
2023
2022
fund5
Total
Totsl
Incomlng resources
Incomlng resourc•s from
charltable actlvitigs
Maintenance contributions
Incoming r•8ourc•s lorm
ggnerated funds
Investment income
Miscellaneous income
40.988
40,988
47,371
6.3S2
21
6,352
21
642
Total Incomlng resour¢
47.361
47.361
48,020
Ro$ourc•s exp•ndod
Charltabl• a¢tivitl•s:
Supported housing and housing
for almhouse residents
Govemance co8t$
45,513
6,240
51.753
22,300
787
Total resouru8 •xp•nd•d
46,113
6,240
52.353
23.087
N•t In¢omel{expendlturn)
1.248
{6,2401
14,9921
24,933
Transfers b•tweon funds
Oth•r rncognlsod galns:
Gainsl(lossesl on Investments
Net mov•mant In funds
2,431
2,431
2.431
16,2401 (2,561)
585
25,518
1,248
R•con¢lllatlon of funds:
Total funds brought forward
223.355
30,087
177.546
430,988
405,470
Total funds carri•d forward
224.603
32,518
171.306
428,427
430,988
All income and expendilure derive from continuing activit￿$. The stslement of financial acliviltes in¢ludes all
gains and losses recognised during the year.

The Powell and Welch Almshouse Charity
Balance Sheet
Year Ended 31 December 2023
2023
2022
Flxed assets
Housing properties
Investments
230,926
150,106
237,166
141.8gN)
381,032
379.056
Current assets
Debtors
Cash al bank and in hand
1,971
47.274
354
56,804
29,245
57.158
Crodltors: amounts falllng due wlthin ono yoar
{1,850)
15.2261
Net current a88•ts (Ilabllltl•sl
47.395
51,932
Total a38Ots less current Ilabllttlos
428,427
430.988
Crndltors: amounts falllng du• aft•r moro than on• y•ar
Quaker Houslng loan
Net assoti
428,427
430,988
Charlty Fund•
General Fund
Designated Fund
Reslric18d fixed asset fund
224.603
32,518
171,306
223.355
30,087
177,546
Totsl charSty funds
428,427
430.988
Approved on behaw of the board of truslees
Mr M Gordon, Chairman
Dale..
Mr K Patton (Treasurer)
Dale:
The notes on pages 8 to 13 form part of these financial stalemenl$.

The Powell and Welch Almshouse Charity
Notes to the Financial Statements
Year Ended 31 December 2023
Accountlng Pollcles
Introductlon and Accountlng Basis
The financial statements have been prepared in a¢¢ordance with applicable financial reporting
standards, the Stslemenl of Recommended Practice. 'Ac£ounling By Registered Landlords. issued in
May 2005. and General Del&rminalion 2(N)6.
FIX￿ Assets
Major expenditure on tangible fixed assets is capitalised. Depreciation is provided on all tangible fixed
assets al rates calculated lo write off the cost les5 estimated resRlual value of each asset evenly over
lils expected useful lrfe on the followin9 bases..
land is not depreciated
housing properties- 2% per annum straight line

The Powell and Welch Almshouse Charity
Notes to the Financial Statements
Year Ended 31 December 2023
Investmont incomo
2023
2022
Divi(Jend income
5,785
642
5.785
642
Rosources expanded
UN•*￿1￿j ft•Sbic&id f¢ltyl F￿dI
D•S¥￿ed FLud 4sse
Z023
Furdl
2022
Charltable actlvlti
S•rvlco8
Water rates
Repairs and mainlenan¢e
Insurance
1,606
41,759
1,705
1.416
12,600
1,556
41.759
1,705
45,070
45.070
15,572
Add: Other exp•ndltur•
Miscellaneous
Governance
Depre¢ialion
443
443
600
6,240
530
787
6,240
6.240
Total
1,043
6,240
7,283
7.557
GovèrnanG•
Accountancy fees
TrLtslee expenses
600
Ombudsman's fees
187
600
787

Tho Powell and Welch Almshouse Charlty
Notes to the Financial Statsments
Year Ended 31 December 2023
Housing properties
2023
2022
Cost or valuation..
Al 1 January 2023
Additions
Al 31 December 2023
311,978
311.978
311.978
311,978
Depreciation..
Al 1 January 2023
Charge for the year
At 31 December 2023
74,812
6.240
81.052
68,572
6.240
74,812
Nel book value..
Al 31 December 2023
230,926
237,166
At 31 December 2022
237.166
243.406
The charitable trust was eslabli$hed in 1847 and the original Costs for the freehold land and buildings
owned by the Charity are not known.
The value of land included above 1$ £63.000
10-

The Powell and Welch Almshouse Charity
Notes to the Financial Statements
Year Ended 31 December 2023
FSxed asset Investments
NMCIF
Accumul'n
Shares
NAACIF
Income
Shares
Total
Cost or valuatlon
Al 1 January 2023
Income for the year
Unrealised gainslllosses)
Al 31 December 2023
128.707
5.218
2,773
136,698
13,183
567
342
13.408
141,89)
5,785
2,431
150,106
Debtors
2023
2022
Prepayments and other debtors
1.971
354
1,971
354

The Powell and Welch Almshouse Charity
Notes to the Financial Statements
Year Ended 31 December 2023
Credltors.. amounts falllng due wlthln one year
2023
2022
mshouse Association loan
Quaker Housing loan
Accruals
876
3,750
600
1.250
600
1,850
5.226
12-

The Powell and Wolch Almshouse Charlty
Notes to the Financlal Statements
Year Ended 31 December 2023
Fund reconclllatlons
Unrestrlcted fundg
Balance al
1st January
2023
Gains I
(losses)
Balance al
31.
December
2023
Income
Ex￿dItU
Transfers
General
Designated
Reslricled
223,355
30.087
177,546
47.361
(46.113}
224,603
32.518
171,306
2,431
(6.2401
430,988
152.353)
428,427
Analys1$ of n•t as••t8 b•tw••n funds
fu
Total
Fixed assets
Investments
Current assets
Current liabilit
230.926 230,926
150,106
49,245
(1,250) {1.850}
136.698
49,245
1600)
13.408
Total
185.343
13,408 229.676 428,427
-1&