REGISTERED CHARITY NUMBER: 218634
Report of the Trustees and Unaudited Financial Statements for the Year Ended 31 December 2022 for
The James Lloyd Almshouses Trust
The James Lloyd Almshouses Trust
Contents of the Financial Statements for the Year Ended 31 December 2022
| Page | |
|---|---|
| Report of the Trustee | 1 |
| Independent Examiner's Report | 6 |
| Statement of Financial Activities 2022 | 7 |
| Statement of Financial Activities 2021 Comparatives | 8 |
| Balance Sheet | 9 |
| Notes to the Financial Statements | 11 |
| Detailed Statements of Financial Activities 2022 | 17 |
| Detailed Statements of Financial Activities 2021 | 19 |
The James Lloyd Almshouses Trust
Report of the Trustee
for the Year Ended 31st December 2022
The trustee present its report with the financial statements of the charity for the year ended 31 December 2022. The trustee has adopted the provisions of the Statement of Recommended Practice (SORP (FRS102)) 'Accounting and Reporting by Charities'.
REFERENCE AND ADMINISTRATIVE DETAILS Registered Charity number
218634
Principal address
219 Heath Road Bournville Birmingham West Midlands B30 1RU
Trustee
James Lloyd Almshouses Trustee Ltd The Corporate Trustee
Independent examiner
R B Welch MA FCA P & W Social Accountants Ltd 10 Newent Road Northfield Birmingham B31 2ED
Solicitors
Veale Wasbrough Vizards LLP Second Floor 3 Brindley Place Birmingham B1 2JB
Investment Advisers
Eveyln Partners 103 Colmore Row Birmingham B3 3 AG
STRUCTURE, GOVERNANCE AND MANAGEMENT Governing document
The Trust was founded by a declaration of Trust dated 12 October 1869 and is now governed by a Charity Commission Scheme dated 20 April 2012.
By virtue of that Scheme James Lloyd Almshouses Trustee Limited was appointed as Corporate Trustee of the Charity on 20 April 2012 in place of the existing trustees and acts as the sole trustee. James Lloyd Almshouses Trustee Limited has a board of unpaid directors who are nominated to the board based on their relevant expertise.
The Corporate Trustee's directors meets 4 times a year to discuss, monitor and review activities.
Page 1
The James Lloyd Almshouses Trust
Report of the Trustee
for the Year Ended 31st December 2022
Within the Corporate Trustee there are 3 Sub Committees being those for Welfare, Property and Finance. These Sub Committees meet as and when required to deal with matters arising. Reports of those Sub Committees are made to the Full Board of Directors of the Corporate Trustee at the next full meeting.
After a period of holding Directors' meetings and Sub-Committee meetings online, we were pleased to return to faceto-face meetings, and will monitor the Government advice in respect of the pandemic, as the New Year unfolds. The Directors held a major review of its Policies during the year, and thanks to a working party of two Directors, we are satisfied that our charitable public service, and operation on a non-profit basis, is maintained. We comply with the Charity Commission and Almshouse Association recommendations. Conflicts of interest are recorded at each meeting. Neither the Trustee nor the Directors of the Trustee Company receive any pay or reimbursement of expenses
The Directors of James Lloyd Almshouses Trustee Limited
P Bowden J Hurst D Leadbeater L Matheson A Shrimpton R Stanton F Wayt
Risk management
The Charity operates a Risk Register, which looks at the risks and threats to which the Charity is exposed. This is reviewed on an annual basis. The Corporate Trustee is satisfied that appropriate controls are in place to provide reasonable assurance against fraud or error.
OBJECTIVES AND ACTIVITIES
Objectives and aims
The prime objective of the trust is to provide sheltered accommodation for elderly women. The trustee aims to
Promote the wellbeing and independence of the residents. Encourage communal activities. Provide a good quality garden. Provide good quality housing. Manage the resources of the trust effectively and efficiently.
Public benefit
The Trustee has considered the Charity Commissions guidance on public benefit, in particular, the trustees consider how future developments will contribute to the objectives and aims they have set.
ACHIEVEMENT AND PERFORMANCE
The Directors continued to invest heavily in the buildings, our largest investment during the year, in an effort to keep the estate usable for the near future, and to an acceptable modern standards, which continues to require placing new regulations into old buildings. In this regard, the Directors commissioned a full condition survey on the properties, undertaken by a surveying practice experienced in this type of work.
Nothing major was identified, with the exception of a fairly significant list of smaller tasks. This list had been addressed by the end of 2022, with only work on a flat roof and some drainage work remaining to be undertaken in the better weather in 2023.
Page 2
The James Lloyd Almshouses Trust
Report of the Trustee
for the Year Ended 31st December 2022
The condition, age, and the smallish size of the units all point to a finite life left in the buildings, and the Directors, looking to the future, established a new building fund to sit within the overall reserves. This 'new building fund' is a designated part of the reserves, without being a restricted fund. This is to allow future Directors the flexibility to act as they see fit in replacing the existing premises.
All the statutory, legal and best practice checks were undertaken during the year, including full modernisation of five flats, one of which had been occupied by the same person for some time, and required a substantial amount of work prior to being able to allow a new licence to occupy being granted. The major works, however, were carried out to the conservatory part of the Common Room, which had been an issue in either the very cold or very hot parts of the year. This involved a new, light-weight, but well-insulated replacement roof. This room began to be used much more frequently in this post-Covid period, and the residents enjoyed events and day trips on a regular basis. The garden continues to be a highlight, and the residents have formed a little green-fingered group in order to utilise the recently built greenhouse and raised vegetable plots.
During the year, the Directors were pleased to note that it had been possible to maintain the Weekly Maintenance Charge, (WMC), which the residents pay, at the same level as the previous two years. However, it became obvious during the year that energy prices were increasing, and that a modest rise, (3% in the event), would be necessary in 2023. The overall pressure on the Budget would be helped by the Directors' decision to fix the prices of the residents' gas and electricity for a three-year period. The residents' satisfaction levels remained high at their formal annual meeting with the Directors in early 2023, when the reseidents agreed how lucky they were to be living at the Almshouses.
FINANCIAL REVIEW
During the year under review, the Charity recorded an overall deficit and movement of funds of £65,048, (2021: surplus of £112,744). There is an unrealised loss on investments of £108,105, (2021: gain of £66,135), and there were no sales of investments during the year, (2021: gain of £21,249). The surplus that accrued from charitable activities amounted to £42,957, (2021: surplus £25,361). The Directors of the Corporate Trustee agreed to transfer £30,000 to the Extraordinary Repair Fund (ERF) plus an additional £50,000 to the newly established Building fund.
The portfolio is managed on a discretionary basis by a specialist team of investment managers with detailed knowledge of Charity law. The Directors meet the investment manager on an annual basis to receive their report.
The Finance sub-committee of the Corporate Trustee meet twice a year to receive reports from the Property subcommittee on capital expenditure and to produce and monitor the Budget for the Full Boards consideration.
2022 Reserves
The Trust has been able to undertake major repairs to the property within the agreed Budget and a full building conditions survey was undertaken in 2022
The Directors are satisfied the original endowment, plus accumulated capital growth, is sufficient to maintain the buildings in the short to medium term, but longer term, and ultimately when the buildings require demolition and renewal, that the level of Reserves needs to be kept under review.
The Directors have given the matter careful consideration and agreed to transfer in addition to the annual investment payment of £25,000 for the newly created Building Fund, a further £25,000 towards the fund during the year. This will be reviewed annually. An additional £25,000 was withdrawn from bank deposits and forwarded to the investment managers for long term investment. In summary a total of £75,000 of new money has been invested.
Page 3
The James Lloyd Almshouses Trust
Report of the Trustee
for the Year Ended 31st December 2022
The Charity have current accounts with both Lloyds Bank and Bank Santander which total in excess of £150,000. In a low interest rate low inflation environment experienced over the previous 10 years this had only a marginally negative impact upon holding cash in current accounts.
The situation has changed dramatically over the last 12 months and the Finance committee are in the process of undertaking a major review of its banking arrangements. The ultimate outcome being to generate greater income outside of the investment portfolio.
The Charity's stated Reserves policy is that the Charity holds at least six months expenditure in reserve, either in cash, or short- term deposits. No alteration to this policy is being proposed. As at 31st December 2022, The Charity held in excess of the funds required to cover six months expenditure.
Investments
Over the 12 months ended 31st December 2022, the overall value of the portfolio in total return terms recorded a fall of 11.6% compared to a fall in the benchmark index (ARC Charity Steady Growth) of 9.6%. Over 3 years, the portfolio has risen by 10% (5.1%) and over 5 years by 23.6% (15.6%), respectively. The figures in parenthesis relate to the benchmark performances. Therefore, the last 12 months is the first time the portfolio has underperformed its benchmark for at least the last 5 years
Total Investment income received amounted to £20,155 (2021; £17,298), which equates to an overall estimated gross yield of 3%. The income received exceeded our budget target of £16,000. The increase in income can be due primarily to the investment of £75,000 of new money plus an underlying increase in dividend income.
The investment strategy which has remained unchanged during the review period is to achieve a balance between income and long term capital growth. Whilst the income stream has remained positive the capital value of the portfolio has been adversely affected by several factors. The trigger point was the invasion of the Ukraine by Russian forces in March 2022. As a consequence, the price of Gas and Oil spiralled upwards resulting in rising global inflation and interest rates with both the bond and equity markets worldwide falling sharply. It is rare for nearly all asset classes to fall simultaneously.
The first 3 months of 2023 had seen some restoration of market confidence until the banking crisis occurred at the beginning of March. But as was predicted in last year's report the continuation of the war in the Ukraine will continue to have a negative impact on markets and volatility will remain at the forefront of investment thinking. There is the consensus of opinion amongst a number of economists that the rate of inflation is coming to a peak and a gradual decline in interest rates may start to occur before the end of 2023. This scenario will help support market confidence moving forward.
The Charity's investment portfolio is managed on a discretionary basis by Evelyn Partners (formerly Smith & Williamson), from their offices in Birmingham. The Finance committee meet twice a year to review investment strategy and performance and the Main Board invites the investment manager to present his annual review in the month of March. The Chairman of the Finance Committee maintains regular contact with the investment manager for periodic updates particularly in volatile market conditions and the reports to the Main Board.
RESERVES POLICY
The Charity's stated Reserves Policy is that the Charity holds at least six months' expenditure in reserve, either in cash, or short-term deposits. As at 31 December 2022, the Charity held in excess of the funds required to cover six months of expenditure.
Page 4
The James Lloyd Almshouses Trust
Report of the Trustee
for the Year Ended 31st December 2022
FUTURE DEVELOPMENTS
2023 is scheduled to be a heavy year for the works on site, because this is a significant year in the cycle of electrical checks and upgrades, and the Directors have agreed to a phased programme of kitchen replacements, with probably an initial five being undertaken this year. Already in the first weeks of the New Year, we are aware of a flat that will require more work being undertaken to be able to relicense, more than any other flat in recent years.
We are excited to see the results of an energy-saving audit that should help lead to the first aspects of work to implement the Trust's Carbon reduction and energy-saving scheme.
2023 is expected to see the commencement to bring forward regulations for higher standards, as part of the Grenfell Tower inquiry, and other complaints regarding special housing conditions in England - the Social (Regulations) Housing Bill will become an Act in 2023.
Finally, we are also considering the 'warden call system' which requires an upgrade to cope with the soon-to-be implemented digital telephone system, and possibly a total renewal may be needed.
Approved by order of the board of the Corporate Trustee on ......................................... and signed on its behalf by:
.............................................
A Shrimpton (Director) on behalf of James Lloyd Almshouses Trustee Ltd - Trustee
Page 5
Independent Examiner's Report to the Trustee of The James Lloyd Almshouses Trust
I report on the accounts for the year ended 31st December 2022 set out in the following pages.
Respective responsibilities of trustee and examiner
The charity's trustee is responsible for the preparation of the accounts. The charity's trustee considers that an audit is not required for this year (under Section 144(2) of the Charities Act 2011 (the 2011 Act)) and that an independent examination is required.
It is my responsibility to:
examine the accounts under Section 145 of the 2011 Act
to follow the procedures laid down in the General Directions given by the Charity Commission (under Section 145(5)(b) of the 2011 Act); and
to state whether particular matters have come to my attention.
Basis of the independent examiner's report
My examination was carried out in accordance with the General Directions given by the Charity Commission. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from you as the directors of the corporate trustee concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently no opinion is given as to whether the accounts present a 'true and fair view ' and the report is limited to those matters set out in the statements below.
Independent examiner's statement
I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me reasonable 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 accounts do not accord with those records; or
(3) the accounts 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.
I 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 accounts to be reached.
R B Welch MA FCA P & W Social Accountants Ltd 10 Newent Road Northfield Birmingham B31 2ED
Date ........................................
Page 6
The James Lloyd Almshouse Trust
Statement of Financial Activities for the Year Ended 31 December 2022
| Unrestricted funds Notes £ INCOME AND ENDOWMENTS FROM: Donations and legacies - Investment income 2. 20,155 Income from charitable activities Providing accommodation for elderly women 192,491 Total income 212,646 EXPENDITURE ON: Charitable activities Providing accommodation for elderly women 163,808 Total expenditure 163,808 Net income before gains and (losses) on investment 48,838 Investment gains/(losses) Realised gain on sale of investments - Unrealised (loss) / gains on investments (108,005) NET MOVEMENT IN FUNDS (59,167) RECONCILIATION OF FUNDS Total funds brought forward 9. 1,622,663 TOTAL FUNDS CARRIED FORWARD 9. 1,563,496 |
Restricted and Endowment funds £ - - - - 5,880 5,880 (5,880) - - (5,880) 106,970 101,090 |
31.12.22 Total funds £ - 20,155 192,491 212,646 169,688 169,688 42,958 - (108,005) (65,047) 1,729,633 1,664,586 |
31.12.21 Total funds £ 7,897 17,298 196,444 |
|---|---|---|---|
| 221,639 196,278 |
|||
| 196,278 | |||
| 25,361 21,249 66,135 |
|||
| 112,744 1,616,889 |
|||
| 1,729,633 |
The notes form part of these financial statements Page 7
The James Lloyd Almshouse Trust
Comparative Statement of Financial Activities for the Year Ended 31 December 2021
| Notes INCOME AND ENDOWMENTS FROM: Donations and legacies Investment income Income from charitable activities Providing accommodation for elderly women Total income EXPENDITURE ON: Charitable activities Providing accommodation for elderly women Total expenditure Net income before gains and (losses) on investment Investment gains/(losses) Realised gains / (loss) on sale of investments Unrealised gain on investments NET MOVEMENT IN FUNDS RECONCILIATION OF FUNDS Total funds brought forward 10. TOTAL FUNDS CARRIED FORWARD 10. |
Unrestricted funds £ 1,002 17,298 196,444 214,744 187,669 187,669 27,075 21,249 66,135 114,458 1,508,205 1,622,663 |
Restricted and Endowment funds £ 6,895 - - 6,895 8,609 8,609 (1,714) - - (1,714) 108,684 106,970 |
31.12.21 Total funds £ 7,897 17,298 196,444 221,639 196,278 196,278 25,361 21,249 66,135 112,744 1,616,889 1,729,633 |
31.12.20 Total funds £ 28 17,341 190,955 |
|---|---|---|---|---|
| 208,325 148,637 |
||||
| 148,637 | ||||
| 59,687 (822) 24,351 |
||||
| 83,216 1,533,673 |
||||
| 1,616,889 |
The notes form part of these financial statements Page 8
The James Lloyd Almshouse Trust
Balance Sheet At 31 December 2022
| Notes FIXED ASSETS Tangible assets 5. Investments 6. CURRENT ASSETS Debtors 7. Cash at bank and in hand CREDITORS Amounts falling due within one year 8. NET CURRENT ASSETS TOTAL ASSETS LESS CURRENT LIABILITIES NET ASSETS FUNDS 9. Unrestricted funds Restricted funds Permanent Endowment Fund TOTAL FUNDS |
Unrestricted funds £ 670,686 722,718 |
Restricted funds £ 17,710 - 17,710 - - - - - 17,710 17,710 |
Endowment Fund 83,380 - 83,380 - - - - - 83,380 83,380 |
31.12.22 Total funds £ 771,776 722,718 1,494,494 8,052 175,912 183,964 (13,872) 170,092 1,664,586 1,664,586 1,563,496 17,710 83,380 1,664,586 |
31.12.21 Total funds £ 783,740 759,463 |
|---|---|---|---|---|---|
| 1,393,404 8,052 175,912 |
1,543,202 6,760 207,865 |
||||
| 183,964 (13,872) |
214,625 (28,194) |
||||
| 170,092 1,563,496 |
186,431 1,729,633 |
||||
| 1,563,496 | 1,729,633 | ||||
| 1,622,663 23,590 83,380 |
|||||
| 1,729,633 |
The notes form part of these financial statements Page 9
The James Lloyd Almshouse Trust
Balance Sheet
At 31 December 2022
The financial statements were approved by the Board of Directors of James Lloyd Almshouses Trustee Ltd, the Corporate Trustee on ............................................. and were signed on its behalf by
.............................................
A Shrimpton (Director) James Lloyd Almshouses Trustee Ltd -Trustee
............................................. F Wayt (Director) James Lloyd Almshouses Trustee Ltd -Trustee
............................................. P Bowden (Director) James Lloyd Almshouses Trustee Ltd-Trustee
The notes form part of these financial statements Page 10
The James Lloyd Almshouses Trust
Notes to the Financial Statements for the Year Ended 31 December 2022
1. ACCOUNTING POLICIES
Accounting convention
The financial statements have been prepared under the historical cost convention, with the exception of investments which are included at market value, as modified by the revaluation of certain assets and in accordance with the Financial Reporting Standard 102, the Charities Act 2011 and the requirements of the Statement of Recommended Practice, Accounting and Reporting by Charities.
Incoming resources
All incoming resources are included on the Statement of Financial Activities when the charity is legally entitled to the income and the amount can be quantified with reasonable accuracy.
Resources expended
Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.
Tangible fixed assets
No depreciation is provided for in respect of the freehold properties held. These properties are fully maintained throughout the year. Depreciation is provided at 10% on cost for stairlifts and scooter stores. Fixture and Fittings are depreciated at 10% and 20% to reflect their expected useful life of each purchase. Computer expenditure is depreciated at 25%.
Taxation
The charity is exempt from tax on its charitable activities
Fund accounting
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustee.
Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements
Pension costs and other post-retirement benefits
Contributions payable to the Scheme Manager's private pension scheme are charged to the Statement of Financial Activities in the period to which they relate.
Going Concern
The trustee considers that there are no material uncertainties about the Trusts' ability to continue as a going concern. There are no material uncertainties affecting the current year's accounts.
Reporting Currency
The reporting currency is £ Sterling.
The notes form part of these financial statements
Page 11
The James Lloyd Almshouses Trust
Notes to the Financial Statements for the Year Ended 31 December 2022
2. INVESTMENT INCOME
| 31.12.22 | 31.12.21 | |
|---|---|---|
| £ | £ | |
| Income from UK investments | 20,155 | 17,298 |
3. TRUSTEES' REMUNERATION, BENEFITS AND DONATIONS
Trustee’s remuneration
Neither the Trustee nor the Directors of the Corporate Trustee received any remuneration or other benefits for the year ended 31 December 2022 nor for the year ended 31 December 2021.
Trustee’s expenses
There were no expenses paid to the Trustee or the Directors of the Corporate Trustee for the year ended 31 December 2022 nor for the year ended 31 December 2021.
Trustee’s donations
There were no donations from the Trustee or the Directors of the Corporate Trustee for the year ended 31 December 2022 nor for the year ended 31 December 2021.
- STAFF COSTS
| Wages and salaries Social security costs Other pension costs |
31.12.22 £ 32,801 - 1,936 34,736 |
31.12.21 £ 31,825 - 1,883 |
|---|---|---|
| 33,708 |
The average monthly number of employees during the year was as follows:
| 31.12.22 | 31.12.21 |
|---|---|
| 2 | 2 |
No employees received emoluments in excess of £60,000.
The notes form part of these financial statements
Page 12
The James Lloyd Almshouses Trust
Notes to the Financial Statements for the Year Ended 31 December 2022
5. TANGIBLE FIXED ASSETS
| At 31 December 2022 DEPRECIATION Charge for year At 31 December 2022 At 31 December 2022 At 31 December 2021 At 31 December 2022 DEPRECIATION Charge for year At 31 December 2022 At 31 December 2022 At 31 December 2021 NET BOOK VALUE At 1 January 2022 Additions COST At 1 January 2022 NET BOOK VALUE COST At 1 January 2022 Additions At 1 January 2022 |
Freehold property £ 806,826 - 806,826 71,311 - 71,311 735,515 735,515 Fixtures and fittings £ 55,566 - 55,566 39,087 4,663 43,750 11,816 16,479 |
Property improvements £ 27,355 - 27,355 7,519 2,736 10,255 17,100 19,836 Computer equipment £ 2,129 - 2,129 2,094 35 2,129 - 35 |
Plant and machinery £ 43,647 - |
|---|---|---|---|
| 43,647 | |||
| 31,773 4,530 |
|||
| 36,302 | |||
| 7,345 | |||
| 11,875 | |||
| Totals £ 935,523 - |
|||
| 935,523 | |||
| 151,784 11,963 |
|||
| 163,747 | |||
| 771,776 | |||
| 783,740 |
The notes form part of these financial statements Page 13
The James Lloyd Almshouses Trust
Notes to the Financial Statements for the Year Ended 31 December 2022
6. FIXED ASSET INVESTMENTS
| Share Securities Fixed Interest Securities £ £ MARKET VALUE At 1 January 2022 641,348 79,401 Additions 68,929 12,127 Disposals - - Revaluations (94,656) (13,349) At 31 December 2022 615,621 78,178 NET BOOK VALUE At 31 December 2022 615,621 78,178 At 31 December 2021 641,348 79,401 All investments were held in the UK. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Trade debtors Other debtors |
UK Cash held as part of portfolio £ 38,714 75,000 (84,796) - 28,918 28,918 38,714 31.12.22 £ 1,495 6,558 8,052 |
Totals £ 759,463 156,056 (84,796) (108,005) |
|---|---|---|
| 722,718 | ||
| 722,718 | ||
| 759,463 | ||
| 31.12.21 £ 1,281 5,479 |
||
| 6,760 |
7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
| Trade creditors Other creditors |
31.12.22 £ 3,030 10,842 13,872 |
31.12.21 £ 2,855 25,340 |
|---|---|---|
| 28,194 |
The notes form part of these financial statements Page 14
The James Lloyd Almshouses Trust
Notes to the Financial Statements for the Year Ended 31 December 2022
9. MOVEMENT IN FUNDS
| At 1.01.22 £ Unrestricted funds General fund 1,471,612 Extraordinary repair fund 151,051 New building fund - 1,622,663 Permanent Endowment Fund 83,380 Restricted funds Health and wellbeing 9,153 Stairlift 5,840 Scooter Store 2,392 Wet room 6,206 Laundry - 23,590 TOTAL FUNDS 1,729,633 Incoming resources £ Unrestricted funds General fund 212,646 Restricted funds Health and wellbeing - Stairlift - Scooter Store - Wet room - Laundry - - TOTAL FUNDS 212,646 Net movement in funds, included in the above are as |
Net movement in funds £ (59,167) - - (59,167) - (1,255) (3,139) (797) (690) - (5,880) (65,047) Resources expended £ (163,808) (1,255) (3,139) (797) (690) - (5,880) (169,689) follows: |
Transfer between funds £ (80,000) 30,000 50,000 - - - - - - - - - - Gains and losses on investments £ (108,005) - - - - - - (108,005) |
At 31.12.22 £ 1,332,445 181,051 50,000 - |
|---|---|---|---|
| 1,563,496 83,380 7,898 2,701 1,595 5,516 - |
|||
| 17,710 | |||
| 1,664,586 | |||
| Movement in funds £ (59,167) (1,255) (3,139) (797) (690) - |
|||
| (5,880) | |||
| (65,047) |
The notes form part of these financial statements Page 15
The James Lloyd Almshouses Trust
Notes to the Financial Statements for the Year Ended 31 December 2022
10. 2021 COMPARATIVE MOVEMENT IN FUNDS
| At 1.01.21 £ Unrestricted funds General fund 1,387,154 Extraordinary repair fund 121,051 1,508,205 Permanent Endowment Fund 83,380 Restricted funds Health and wellbeing 10,408 Stair lift 8,979 Scooter Store 3,189 Wet room Laundry 2,728 25,304 TOTAL FUNDS 1,616,889 Incoming resources £ Unrestricted funds General fund 214,744 Restricted funds Health and wellbeing - Stair lift - Scooter Store - Wet room 6,895 Laundry - 6,895 TOTAL FUNDS 221,639 Net movement in funds, included in the above are as |
Net movement in funds £ 114,458 - 114,458 - (1,255) (3,139) (797) 6,206 (2,728) (1,714) 112,744 Resources expended £ (187,669) (1,255) (3,139) (797) (690) (2,728) (8,609) (196,278) follows: |
Transfer between funds £ (30,000) 30,000 - - - - - - - - Gains and losses on investments £ 87,383 - - - - - 87,383 |
At 31.12.21 £ 1,471,612 151,051 |
|---|---|---|---|
| 1,622,663 83,380 9,153 5,840 2,392 6,206 - |
|||
| 23,590 | |||
| 1,729,633 | |||
| Movement in funds £ 114,458 (1,255) (3,139) (797) 6,206 (2,728) |
|||
| (1,714) | |||
| 112,744 |
The notes form part of these financial statements Page 16
The James Lloyd Almshouses Trust
Detailed Statement of Financial Activities for the Year Ended 31 December 2022
| INCOME Voluntary income Donations Investment income Income for UK Investments Income from charitable activities Residents' Maintenance Contribution Total incoming resources RESOURCES EXPENDED Charitable activities Wages National Insurance Pensions Employee Life Assurance Rates and water Insurance Light and heat Sundries Repairs and maintenance Cleaning Gardening TV and music licence Warden out of hours call service Staff travel Supervising cyclical repairs and assessments Website development, hosting and advertising Warden activities Summer Event / 150th Anniversary Celebrations Training Bad debts Depreciation of property improvements Depreciation of plant and machinery Depreciation of fixtures and fittings Depreciation of computer equipment Donations |
Unrestricted funds £ - - 20,155 192,491 212,646 32,801 - 1,936 274 4,280 4,781 19,081 758 57,237 5,470 4,136 361 2,640 41 3,940 369 4,100 54 300 1,391 4,357 35 148,341 |
Restricted funds £ - - - - - - - - - - - - - - - - - - - - - - - - - 2,436 3,139 306 - - 5,880 |
31.12.22 £ - - 20,155 192,491 212,646 32,801 - 1,936 274 4,280 4,781 19,081 758 57,237 5,470 4,136 361 2,640 41 3,940 369 4,100 - 54 - 2,736 4,529 4,663 35 - 154,222 |
31.12.21 £ 7,897 |
|---|---|---|---|---|
| 7,897 17,298 196,444 |
||||
| 221,639 31,825 1,883 247 4,218 4,281 17,304 741 91,431 4,672 4,455 334 2,566 45 385 - 2,049 - - 120 2,736 4,530 7,391 359 - |
||||
| 181,573 |
The notes form part of these financial statements Page 17
The James Lloyd Almshouses Trust
Detailed Statement of Financial Activities for the Year Ended 31 December 2022
| Support costs Telephone Postage, stationery and computer Hire of office equipment Stockbroker fee Accountancy and bookkeeping Total resources expended Net funds before gains and losses on investments Realised gains on investments Unrealised (loss) / gains on investments Net movement in funds |
Unrestricted funds £ 880 1,195 478 4,215 8,699 15,467 163,808 48,838 (108,005) (59,167) |
Restricted funds £ - - - - - - 5,880 (5,880) - - (5,880) |
31.12.22 £ 880 1,195 478 4,215 8,699 15,467 169,688 42,958 - (108,005) (65,047) |
31.12.21 £ 873 907 478 4,158 8,290 |
|---|---|---|---|---|
| 14,705 196,278 |
||||
| 25,361 21,249 66,135 |
||||
| 112,744 |
The notes form part of these financial statements Page 18
The James lloyd Almshouse Trust
Comparative detailed Statement of Financial Activities for the Year Ended 31 December 2021
| INCOME Voluntary income Donations Investment income Income for UK Investments Income from charitable activities Residents' Maintenance Contribution Total incoming resources RESOURCES EXPENDED Charitable activities Wages National Insurance Pensions Employee Life Assurance Rates and water Insurance Light and heat Sundries Repairs and maintenance Repairs and maintenance (from the ERF) Cleaning Gardening TV and music licence Warden out of hours call service Staff travel Supervising cyclical repairs and assessments Website development, hosting and advertising Warden activities Summer Event / 150th Anniversary Celebrations Training Bad debts Depreciation of property improvements Depreciation of plant and machinery Depreciation of fixtures and fittings Depreciation of computer equipment Donations |
Unrestricted funds £ 1,002 1,002 17,298 196,444 214,744 31,825 1,883 247 4,218 4,281 17,304 741 91,431 - 4,672 4,455 334 2,566 45 385 - 2,049 - - 120 300 1,391 4,357 359 - 172,964 |
Restricted funds £ 6,895 6,895 - - 6,895 - - - - - - - - - - - - - - - - - - - - - 2,436 3,139 3,034 - - 8,609 |
31.12.21 £ 7,897 7,897 17,298 196,444 221,639 31,825 - 1,883 247 4,218 4,281 17,304 741 91,431 - 4,672 4,455 334 2,566 45 385 - 2,049 - - 120 2,736 4,530 7,391 359 - 181,573 |
31.12.20 £ 28 |
|---|---|---|---|---|
| 28 17,341 190,955 |
||||
| 208,325 30,106 - 1,776 243 4,238 4,151 15,612 749 52,067 - 4,757 2,960 328 2,329 73 - - 2,037 - 621 - 797 4,530 6,520 359 100 |
||||
| 134,355 |
The notes form part of these financial statements Page 19
The James lloyd Almshouse Trust
Comparative detailed Statement of Financial Activities for the Year Ended 31 December 2021
| Support costs Telephone Postage, stationery and computer Hire of office equipment Stockbroker fee Accountancy and bookkeeping Total resources expended Net funds before gains and losses on investments Realised gains / (loss) on investments Unrealised gains on investments Net movement in funds |
Unrestricted funds £ 873 907 478 4,158 8,290 14,705 187,669 27,075 21,249 66,135 114,458 |
Restricted funds £ - - - - - - 8,609 (1,714) - - (1,714) |
31.12.21 £ 873 907 478 4,158 8,290 14,705 196,278 25,361 21,249 66,135 112,744 |
31.12.20 £ 882 1,373 441 3,296 8,290 |
|---|---|---|---|---|
| 14,282 148,637 |
||||
| 59,687 (822) 24,351 |
||||
| 83,216 |
The notes form part of these financial statements Page 20