REGISTERED CHARITY NUMBER: 218634
Report of the Trustees and Unaudited Financial Statements for the Year Ended 31 December 2023 for
The James Lloyd Almshouses Trust
The James Lloyd Almshouses Trust
Contents of the Financial Statements for the Year Ended 31 December 2023
| Page | |
|---|---|
| Report of the Trustee | 1 |
| Independent Examiner's Report | 6 |
| Statement of Financial Activities 2023 | 7 |
| Statement of Financial Activities 2022 Comparatives | 8 |
| Balance Sheet | 9 |
| Notes to the Financial Statements | 11 |
| Detailed Statements of Financial Activities 2023 | 17 |
| Detailed Statements of Financial Activities 2022 | 19 |
The James Lloyd Almshouses Trust
Report of the Trustee
for the Year Ended 31st December 2023
The trustee present its report with the financial statements of the charity for the year ended 31 December 2023. 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
Evelyn 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 2023
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.
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 Corporate Trustee has considered the Charity Commissions guidance on public benefit, in particular how future developments will contribute to the objectives and aims it has set.
ACHIEVEMENT AND PERFORMANCE
Two main themes emerged during the year. Firstly, costs incurred through the year due to inflation, but also associated with the second theme, that of items requiring repair or replacement. This put pressure on the Repairs Budget, and for Major Works.
All the statutory tests were undertaken, and in addition, three void units were refurbished and re-occupied. One flat in particular was so damaged that a new kitchen and bathroom was required. One central heating boiler was replaced, and some unexpected drainage problems rectified. Increasing standards necessitated new metal fuse boards throughout the site, and some asbestos discovered was made safe or removed.
Page 2
The James Lloyd Almshouses Trust
Report of the Trustee
for the Year Ended 31st December 2023
The external dustbin stores were all replaced and 23 flats required the lounge windows to be taken out, the slate surround removed, and the windows refitted.
One item we had hoped to undertake was the first year of a programme, (initially five units), for replacement kitchens. Many hours of work resulted in a tender figure above expectations, and therefore we could not proceed. This work will be added to the 2024 programme.
In anticipation of the forthcoming switch over to a digital telephone line, we needed to upgrade our emergency call system. It was decided to replace the whole system, bringing it fully up to date, and something that should last for many years.
In July we conducted a Satisfaction Survey of all residents. A high response from the 30 residents on site, (one unit empty), resulted in overwhelming satisfaction across all questions asked, endorsing what the organisation aims to achieve. One important point, and not a specific question, but many residents, in the comments box, praised the efforts of the Scheme Manager.
FINANCIAL REVIEW
During the year under review, the Charity recorded an overall surplus and increase of funds of £24,893, (2022: deficit of £65,047). Income from providing accommodation for elderly women has increased marginally from the previous year to £193,783, (2022:192,491) whilst expenditure has gone up from £169,688 in 2022 to £227,544 which is mainly due to the significant increase in repairs and maintenance from £57,237 to £109,014 caused by the expenditure on the items referred to under Achievements and Performance.
The charity achieved a small surplus from charitable activities amounting to £1,386, (2022: surplus £42,957) which was due in part to the increase in investment income which rose to £25,147 form £20,155 in the previous year. There is an unrealised gain on investments of £365, (2022: loss of £108,105), and there was a realised gain on sales of investments of £23,143 during the year, (2022: no sales of investment). The Corporate Trustee agreed to transfer £17,000 to the Extraordinary Repair Fund (ERF) (2022: £30,000) plus an additional £27,175, (2022: £50,000) to the 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 of the Corporate Trustee meet the investment manager on an annual basis to receive their report.
The Finance sub-committee of the Corporate Trustee meets twice a year to receive reports from the Property subcommittee on capital expenditure and to produce and monitor the Budget for the Full Board to consider and approve.
2023 Reserves
The charity has for the first time for over 10 years faced the pressures of inflation both from a perspective of cost of materials and labour. Consequently, this placed some pressure on both the Repairs Budget and Major Works as mentioned earlier in the report. However, this has not prevented a major part of the planned programme for 2023 being completed.
The Corporate Trustee is satisfied the original endowment, plus the 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 levels of Reserves needs to be kept under review.
Page 3
The James Lloyd Almshouses Trust
Report of the Trustee
for the Year Ended 31st December 2023
The Corporate Trustee has given this matter careful consideration in 2022 and in June 2022 agreed to transfer £25,000 to a newly established Building Fund with a further £25,000 transferred in November 2022. Subject to annual reviews each year a further sum of £25,000 plus inflation is to be transferred to the Building Fund each year (2023: £27,175). These monies have been transferred to the investment managers for long term investment. In addition to this the Corporate Trustee designated an annual transfer to the Extraordinary Repair Fund (2023: £17,000, 2022: £30,000) for expected future major repairs.
The Charity has current accounts with both Lloyds and Santander banks which total in excess of £160,000. The Corporate Trustee agreed it was necessary to reduce the amount held in the bank current accounts. Rather than attempt to open deposit accounts with unconnected banks the Corporate Trustee agreed to transfer monies to the investment managers for long term investments which took place after the end of the financial year .
Investments
Over the 12 months ended 31st December 2023, the overall value of the portfolio in total return terms recorded a gain of 6.7% compared to gain in the benchmark index [ARC Charity Steady Growth] of 7.5%. The portfolio has still outperformed ARC over 5 years, but 1 and 3 years are both behind.
Income generation was supported by the new cash added throughout the year, and ultimately 20% more income was generated in 2023 than in 2022, with a yield that is 10% higher at 3.3%. Investment income in 2023 totalled £25,147 compared with £20,155 in 2022.
The investment strategy currently in place has remained unchanged during the period under review which is to achieve a balance between income and long term capital growth. A statement of investment policy has prepared and been approved by the investment managers last year.
The biggest performance driver for most of 2023 was inflation and interest rate expectations. As these rose in the first half of the year, bonds, property, and infrastructure investments suffered but a surprise quarter four inflation had fallen dramatically in the UK and also abroad, so interest expectations were forecasting a fall in rates. This led to a strong rally in these assets.
It has however, been overseas markets that have achieved the best performance in 2023 led by the United States and Europe. Conversely, the biggest area of weakness globally towards the end of the year was China.
Global markets have so far in 2024 remained positive in the expectation that global interest rates will start to fall by June. The investment managers report highlights the risks associated with artificial intelligence shares, geopolitical factors and the prospects of a General Election in the UK and a US Presidential election this Autumn. This all adds up to a level of uncertainty which makes forecasting future trends in markets very difficult to predict.
The Charity's investment managers are Evelyn Partners from their offices in Birmingham. The portfolio is managed on a discretionary basis and the Finance committee meet twice a year to review strategy and performance. The Main Board invite the investment managers to present their annual report in March.
The Chairman of the Finance committee maintains regular contact with the investment managers for periodic updates particularly during volatile market conditions and then reports back to the Finance committee.
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. No alteration to this policy is proposed . As at 31 December 2023, the Charity held in excess of the funds required to cover six months of expenditure. All Reserves above this level are invested for the long term benefit of the Charity.
Page 4
The James Lloyd Almshouses Trust
Report of the Trustee
for the Year Ended 31st December 2023
FUTURE DEVELOPMENTS
During 2024, the Corporate Trustee plans to reconsider the replacement kitchen programme, plus provide additional insulation in the walls and roof spaces, this arising from the Carbon Reduction Plan produced in response to a survey undertaken in 2023. There is one quite substantial flat roof, which we anticipate can be renewed as a pitch roof, together with additional insulation. This came from both the Carbon Reduction Plan and the Condition Survey of 2022. All statutory and best practice tests and surveys are programmed for action on schedule during the year.
Approved by order of the board of the Corporate Trustee on 23rd April 2024 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 2023 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: 23rd April 2024
Page 6
The James Lloyd Almshouse Trust
Statement of Financial Activities for the Year Ended 31 December 2023
| Unrestricted funds Notes £ INCOME AND ENDOWMENTS FROM: Donations and legacies - Investment income 2. 25,147 Income from charitable activities Providing accommodation for elderly women 193,783 Total income 218,930 EXPENDITURE ON: Charitable activities Providing accommodation for elderly women 220,130 Total expenditure 220,130 Net income before gains and (losses) on investment (1,201) Investment gains/(losses) Realised gain on sale of investments 23,143 Unrealised (loss) / gains on investments 365 NET MOVEMENT IN FUNDS 22,307 RECONCILIATION OF FUNDS - Total funds brought forward 9. 1,563,496 TOTAL FUNDS CARRIED FORWARD 9. 1,585,803 |
Restricted and Endowment funds £ 10,000 - - 10,000 7,413 7,413 2,587 - - 2,587 - 101,090 103,676 |
31.12.23 Total funds £ 10,000 25,147 193,783 228,930 227,544 227,544 1,386 23,143 365 24,893 - 1,664,586 1,689,479 |
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 |
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 2022
| 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 £ - 20,155 192,491 212,646 163,808 163,808 48,838 - (108,005) (59,167) 1,622,663 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 8
The James Lloyd Almshouse Trust
Balance Sheet At 31 December 2023
| 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 £ 664,877 770,416 |
Restricted funds £ 13,296 - 13,296 - 7,000 7,000 - 7,000 20,296 20,296 |
Endowment Fund 83,380 - 83,380 - - - - - 83,380 83,380 |
31.12.23 Total funds £ 761,553 770,416 1,531,969 9,060 163,446 172,506 (14,995) 157,510 1,689,479 1,689,479 1,585,803 20,296 83,380 1,689,479 |
31.12.22 Total funds £ 771,776 722,718 |
|---|---|---|---|---|---|
| 1,435,293 9,060 156,446 |
1,494,494 8,052 175,912 |
||||
| 165,506 (14,995) |
183,964 (13,872) |
||||
| 150,510 1,585,803 |
170,092 1,664,586 |
||||
| 1,585,803 | 1,664,586 | ||||
| 1,563,496 17,710 83,380 |
|||||
| 1,664,586 |
The notes form part of these financial statements Page 9
The James Lloyd Almshouse Trust
Balance Sheet At 31 December 2023
The financial statements were approved by the Board of Directors of James Lloyd Almshouses Trustee Ltd, the Corporate Trustee on 23rd April 2024 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 2023
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 2023
2. INVESTMENT INCOME
| 31.12.23 | 31.12.22 | |
|---|---|---|
| £ | £ | |
| Income from UK investments | 25,147 | 20,155 |
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 2023 nor for the year ended 31 December 2022.
Trustee’s expenses
There were no expenses paid to the Trustee or the Directors of the Corporate Trustee for the year ended 31 December 2023 nor for the year ended 31 December 2022.
Trustee’s donations
There were no donations from the Trustee or the Directors of the Corporate Trustee for the year ended 31 December 2023 nor for the year ended 31 December 2022.
4. STAFF COSTS
| STAFF COSTS | ||
|---|---|---|
| 31.12.23 | 31.12.22 | |
| £ | £ | |
| Wages and salaries | 35,589 | 32,801 |
| Social security costs | - | - |
| Other pension costs | 2,098 | 1,936 |
| 37,687 | 34,736 | |
| The average monthly number of employees during the year was as follows: | ||
| 31.12.23 | 31.12.22 | |
| 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 2023
5. TANGIBLE FIXED ASSETS
| At 31 December 2023 DEPRECIATION Charge for year At 31 December 2023 At 31 December 2023 At 31 December 2022 Disposals At 31 December 2023 DEPRECIATION Charge for year Disposals At 31 December 2023 At 31 December 2023 At 31 December 2022 NET BOOK VALUE At 1 January 2023 Additions COST At 1 January 2023 NET BOOK VALUE COST At 1 January 2023 Additions At 1 January 2023 |
Freehold property £ 806,826 - 806,826 71,311 - 71,311 735,515 735,515 Fixtures and fittings £ 55,566 - - 55,566 43,750 4,663 - 48,413 7,153 11,816 |
Property improvements £ 27,355 - 27,355 10,255 2,736 12,990 14,365 17,100 Computer equipment £ 2,129 318 (140) 2,307 2,129 79 (140) 2,068 238 - |
Plant and machinery £ 43,647 - |
|---|---|---|---|
| 43,647 | |||
| 36,302 3,062 |
|||
| 39,365 | |||
| 4,283 | |||
| 7,345 | |||
| Totals £ 935,523 318 (140) |
|||
| 935,701 | |||
| 163,747 10,540 (140) |
|||
| 174,147 | |||
| 761,553 | |||
| 771,776 |
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 2023
6. FIXED ASSET INVESTMENTS
| Share Securities £ MARKET VALUE At 1 January 2023 615,621 Additions 29,094 Disposals (28,449) Revaluations (2,691) At 31 December 2023 613,575 NET BOOK VALUE At 31 December 2023 613,575 At 31 December 2022 615,621 All investments were held in the UK. |
Fixed Interest Securities £ 78,178 65,322 (9,289) 3,056 137,267 137,267 78,178 |
UK Cash held as part of portfolio £ 28,918 27,219 (36,564) - 19,574 19,574 28,918 |
Totals £ 722,718 121,635 (74,302) 365 |
|---|---|---|---|
| 770,416 | |||
| 770,416 | |||
| 722,718 | |||
7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
| Trade debtors Other debtors |
31.12.23 £ 1,351 7,709 9,060 |
31.12.22 £ 1,495 6,558 |
|---|---|---|
| 8,052 |
8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
| Trade creditors Other creditors |
31.12.23 £ 4,260 10,736 14,995 |
31.12.22 £ 3,030 10,842 |
|---|---|---|
| 13,872 |
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 2023
9. MOVEMENT IN FUNDS
| At 1.01.23 £ Unrestricted funds General fund 1,332,445 Extraordinary repair fund 181,051 New building fund 50,000 1,563,496 Permanent Endowment Fund 83,380 Restricted funds Health and wellbeing 7,898 Stairlift 2,701 Scooter Store 1,595 Wet room 5,516 Kitchen - 17,710 TOTAL FUNDS 1,664,586 Incoming resources £ Unrestricted funds General fund 218,930 Restricted funds Health and wellbeing - Stairlift - Scooter Store - Wet room - Kitchen 10,000 10,000 TOTAL FUNDS 228,930 Net movement in funds, included in the above are as |
Net movement in funds £ 22,307 - - 22,307 - (1,255) (1,672) (797) (690) 7,000 2,587 24,893 Resources expended £ (220,130) (1,255) (1,672) (797) (690) (3,000) (7,413) (227,544) follows: |
Transfer between funds £ (44,175) 17,000 27,175 - - - - - - - - - - Gains and losses on investments £ 23,507 - - - - - - 23,507 |
At 31.12.23 £ 1,310,577 198,051 77,175 - |
|---|---|---|---|
| 1,585,803 83,380 6,643 1,030 797 4,827 7,000 |
|||
| 20,296 | |||
| 1,689,479 | |||
| Movement in funds £ 22,307 (1,255) (1,672) (797) (690) 7,000 |
|||
| 2,587 | |||
| 24,893 |
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 2023
10. 2022 COMPARATIVE 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 Stair lift 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 - Stair lift - Scooter Store - Wet room - Laundry - Total Restricted funds - 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 16
The James Lloyd Almshouses Trust
Detailed Statement of Financial Activities for the Year Ended 31 December 2023
| 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 £ - - 25,147 193,783 218,930 35,589 - 2,098 313 4,139 5,784 18,691 807 109,014 6,486 3,770 381 2,785 57 1,392 240 3,208 - 431 85 300 1,391 4,357 79 201,396 |
Restricted funds £ 10,000 10,000 - - 10,000 - - - - - - - - - - - - - - 3,000 - - - - - 2,436 1,672 306 - - 7,413 |
31.12.23 £ 10,000 10,000 25,147 193,783 228,930 35,589 - 2,098 313 4,139 5,784 18,691 807 109,014 6,486 3,770 381 2,785 57 4,392 240 3,208 - 431 85 2,736 3,062 4,663 79 - 208,809 |
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 |
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 2023
| Support costs Telephone Postage, stationery and computer Legal and professional fees 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 £ 924 1,175 2,114 726 4,286 9,509 18,734 220,130 (1,201) 23,143 365 22,307 |
Restricted funds £ - - - - - - - 7,413 2,587 - - 2,587 |
31.12.23 £ 924 1,175 2,114 726 4,286 9,509 18,734 227,544 1,386 23,143 365 24,893.30 |
31.12.22 £ 880 1,195 - 478 4,215 8,699 |
|---|---|---|---|---|
| 15,467 169,688 |
||||
| 42,958 - (108,005) |
||||
| (65,047) |
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 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 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 £ - - 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 19
The James lloyd Almshouse Trust
Comparative 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 / (loss) on investments Unrealised 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 20