REGISTERED CHARITY NUMBER: 218634
Report of the Trustee and Unaudited Financial Statements for the Year Ended 31 December 2024 for
The James Lloyd Almshouses Trust
The James Lloyd Almshouses Trust
Contents of the Financial Statements for the Year Ended 31 December 2024
| Page | |
|---|---|
| Report of the Trustee | 1 |
| Independent Examiner's Report | 6 |
| Statement of Financial Activities 2024 | 7 |
| Statement of Financial Activities 2023 Comparatives | 8 |
| Balance Sheet | 9 |
| Notes to the Financial Statements | 11 |
| Detailed Statements of Financial Activities 2024 | 17 |
| Detailed Statements of Financial Activities 2023 | 19 |
The James Lloyd Almshouses Trust
Report of the Trustee
for the Year Ended 31st December 2024
The trustee present its report with the financial statements of the charity for the year ended 31 December 2024. 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 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 (comany registration number 08010707) 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 2024
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
H Billyard Appointed 29th October 2024 P Bowden
J Hurst Resigned 16th July 2024
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
The Charity continued to invest heavily in repairing and improving the condition of the Almshouses. All the legal and recommended testing was undertaken on time, and in accord with the best possible practice.
Particularly noticeable was that the volume of day-to-day repairs, coupled with a steady increase in both labour and material costs, resulted in a total cost of over £27,000 for the year, this against a budget figure of £20,000. A trend thought likely to continue in 2025 as the buildings continue to age. The budget for the coming year has been increased by 25%.
An important year for improvements, in particular a programme for five replacement kitchens, which had to be increased to six due to a longstanding, but unforeseen water leak. Two of the kitchens included some asbestos material requiring specialist removal, only added to the complexity.
Page 2
The James Lloyd Almshouses Trust
Report of the Trustee
for the Year Ended 31st December 2024
We were given substantial financial support from several charities with whom we have mostly worked with for several years, and the Directors wish to list those charities involved. Some grant aid was received in 2023, and the remainder in 2024:-
The CB & HH Taylor Charitable Trust The LJC Fund The Richard Cadbury Charitable Trust The Lord Austin Charitable Trust The Edward Cadbury Charitable Trust The total grants received were £20,000.
In addition, the Baron Davenport Charitable Trust gave £4,000 towards two new electric mobility scooter stores. We now have four such stores that allow reasonable security for the equipment, and safe recharging of the batteries, which cannot be achieved in the residents’ own accommodation.
The Directors strive hard to keep the payment from residents down to the lowest figure possible, following the lead from our Founder in 1869. The Weekly Maintenance Charge, (WMC), is of course set at a level that covers all of the outgoings, providing a small surplus at the end of the year. The small increase in WMC this year was felt prudent by the Directors to cover a general increase in costs, and especially as the fixed price dual-fuel contract we had enjoyed for several years expired in mid- 2024, with, of course, a substantial increase in costs.
The investments are managed on behalf of the organisation by a specialist firm, and it is worth noting that the, just over, £27,000 received from the dividends, was included in the general income. If the residents had to make good that figure, this would add nearly £17 per week for each of the 31 people living with us.
The Directors continue to confirm that investment policy should remain in its present form, being particularly mindful that, despite the substantial sums spent on the existing buildings, there is a need to cover as much as possible of the cost of replacement buildings, which is likely to be required when the current facility is no longer fit for purpose, or economical to repair.
FINANCIAL REVIEW
During the year under review, the Charity recorded an overall surplus and increase of funds of £62,377, (2023: surplus of £24,893). Income from providing accommodation for elderly women has increased from the previous year to £208,125, (2023:£193,783) reflecting full occupancy of the site during the year. During the year there were restricted donations of £10,000 for kitchen replacements and £4,000 towards an additional scooter store. Expenditure has gone down from £227,544 in 2023 to £219,471 which is mainly due to the significant reduction in repairs and maintenance expenditure which was offset partially by an increase in utility costs and professional fees.
The charity achieved a surplus from charitable activities amounting to £29,844 (2023: surplus £1,386) which was due in part to full occupancy, an increase investment income and donation, and a reduction in the overall expenditure. There is an unrealised gain on investments of £4,640, (2022: gain of £365), and there was a realised gain on sales of investments of £27,893 during the year, (2023: £23,143). The Corporate Trustee agreed to transfer £11,500 to the Extraordinary Repair Fund (ERF) (2023: £17,000) plus an additional £27,719, (2023: £27,175) to the Building Fund.
The portfolio is managed on a discretionary basis by a specialist team of investment managers , Evelyn Partners, based in Birmingham who have a detailed knowledge of charity law. The directors of the Corporate Trustee meet the investment managers on an annual basis (March) to receive their report. The Chairman of the Finance sub-committee maintains regular contact with investment managers for periodic updates.
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.
Page 3
The James Lloyd Almshouses Trust
Report of the Trustee for the Year Ended 31st December 2024
2024 Reserves
The charity has throughout the period under review continued to face the pressures of inflation both from a perspective of cost of raw materials and labour. Consequently, this placed pressure on both the Repairs Budget and Major Works as mentioned earlier in the report. However, this did not prevent the planned programme for 2024 being completed and within a revised budget.
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 level of reserves meet future capital requirements.
Annual payments into both the ERF and Building Fund were maintained during 2024 as mentioned earlier in the report. The Corporate Trustee is committed to the transfer of monies on an annual basis to both Funds for long term investment.
Investments
Over the 12 months ended 31st December 2024, the overall value of the portfolio in total return terms recorded a gain of 7.6% compared to a gain in the benchmark index (ARC Charity Steady growth) of 8.2%. The portfolio has outperformed the benchmark over 5 years, 26.3% versus 22.3%.
Income generation was supported by new money invested during the period under review. Investment income totalled £27,190 (2023; £25,147). This placed the portfolio on an estimate gross interest yield of 3.16%.
In conjunction with the investment manager the question of asset mix and the risk profile surrounding the investment portfolio is discussed on an annual basis. The investment strategy approved by the Corporate Trustee and which is currently in place is to achieve a balance between income and long-term capital growth. A time horizon of 3 to 5 years forms the basis relative to performance and any substantial change in asset allocation.
The biggest performance driver in 2024 was the technology sector emanating in the United States. Artificial Intelligence became the watchwords for investors and companies at the forefront of new technology achieved phenomenal growth and pushed Wall Street to all time highs. Positive momentum was seen in most western bourses because of this euphoria.
What global equity markets chose to ignore were the risks allied to global geo-political factors which remain far from being resolved. Economic factors have more recently been a drag on market sentiment particularly in the bond markets. Inflation remains stubbornly high and therefore both the Federal Reserve Bank and the Bank of England have to date resisted the temptation to cut interest rates to the levels market analysts were forecasting 6 months ago.
Global equity and bond markets will remain volatile in the current political and economic environment. The US President is another unsettling factor with the introduction of tariffs threatening a global slow down.
The recent annual review from our investment manager was in the main positive for equities but more sanguine towards bonds. The existing balance of the portfolio is well based from a global perspective.
RESERVES POLICY
The charity’s stated reserves policy is to hold at last six months expenditure in reserve, either in cash, or short-term deposit. The charity has current accounts with both Lloyds and Santander banks which totalled more than £144,000 at the end of the 2024. The Corporate Trustee has over the last two financial years reduced monies held on bank deposit for long term investment but retained sufficient to meet at least six months expenditure and any unbudgeted repairs.
Page 4
The James Lloyd Almshouses Trust
Report of the Trustee for the Year Ended 31st December 2024
FUTURE DEVELOPMENTS
The Directors have agreed a programme of work for the 2025 improvements.
This work includes re-roofing the five bungalows. The quality and construction of the existing buildings was exposed during the storms in late 2024, so this work has been a priority. The main roofs to the flats are not in the same condition as this is monitored, and whilst they are now coming up to 60 years from construction, it is thought they should last for some years to come.
We plan to increase the insulation levels to external walls and roof spaces to the flats, bringing them up to modern standards. Whilst all the residents are comfortably warm, this can be achieved if less gas is used, whilst also reducing the carbon dioxide emission, which is part of our environmental strategy. This will also enable the Energy Performance rating of five of the properties to be retested, as they are currently EPC Grade D, and to remain lettable, they must be no worse that Grade C by 2030. All the other of our units are Grade C.
The long-term future of the heating systems, currently gas boilers, remains under review, present Government thinking being that such boilers will no longer be available from 2035.
It had been our intention during the year to replace those parts of the paths in the inner courtyard which are still tarmac. However, at the end of 2024, a section of the cast iron pipe network in the courtyard was found to be corroded and leaking. This network is part of the National Grid system, and not under our control. Other sections of the pipework must also have deteriorated over the years, and to replace current paths may well be unwise.
Again, due to age, there are some four properties due for their kitchens to be renewed, one of which is known to have asbestos problems.
Approved by order of the board of the Corporate Trustee on 15th April 2025 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 2024 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 P & W Social Accountants Ltd 10 Newent Road Northfield Birmingham
Date: 15th April 2025
Page 6
The James Lloyd Almshouse Trust
Statement of Financial Activities for the Year Ended 31 December 2024
| Unrestricted funds Notes £ INCOME AND ENDOWMENTS FROM: Donations and legacies - Investment income 2. 27,190 Income from charitable activities Providing accommodation for elderly women 208,125 Total income 235,315 EXPENDITURE ON: Charitable activities Providing accommodation for elderly women 198,606 Total expenditure 198,606 Net income before gains on investment 36,709 Investment gains/(losses) Realised gain on sale of investments 27,893 Unrealised gain on investments 4,640 NET MOVEMENT IN FUNDS 69,242 RECONCILIATION OF FUNDS - Total funds brought forward 9. 1,585,803 TOTAL FUNDS CARRIED FORWARD 9. 1,655,045 |
Restricted and Endowment funds £ 14,000 - - 14,000 20,865 20,865 (6,865) - - (6,865) - 103,676 96,811 |
31.12.24 Total funds £ 14,000 27,190 208,125 249,315 219,471 219,471 29,844 27,893 4,640 62,377 - 1,689,479 1,751,856 |
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 |
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 2023
| 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 (losses) and gains on investment Investment gains/(losses) Realised gains on sale of investments Unrealised gain / (loss) on investments NET MOVEMENT IN FUNDS RECONCILIATION OF FUNDS Total funds brought forward 10. TOTAL FUNDS CARRIED FORWARD 10. |
Unrestricted funds £ - 25,147 193,783 218,930 220,130 220,130 (1,201) 23,143 365 22,307 1,563,496 1,585,803 |
Restricted and Endowment funds £ 10,000 - - 10,000 7,413 7,413 2,587 - - 2,587 101,089 103,676 |
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 8
The James Lloyd Almshouse Trust
Balance Sheet At 31 December 2024
| 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 £ 666,032 854,590 |
Restricted funds £ 13,431 - 13,431 - - - - - 13,431 13,431 |
Endowment Fund 83,380 - 83,380 - - - - - 83,380 83,380 |
31.12.24 Total funds £ 762,843 854,590 1,617,433 9,569 144,529 154,098 (19,675) 134,423 1,751,856 1,751,856 1,655,045 13,431 83,380 1,751,856 |
31.12.23 Total funds £ 761,553 770,416 |
|---|---|---|---|---|---|
| 1,520,622 9,569 144,529 |
1,531,969 9,060 163,446 |
||||
| 154,098 (19,675) |
172,506 (14,995) |
||||
| 134,423 1,655,045 |
157,510 1,689,479 |
||||
| 1,655,045 | 1,689,479 | ||||
| 1,585,803 20,296 83,380 |
|||||
| 1,689,479 |
The notes form part of these financial statements Page 9
The James Lloyd Almshouse Trust
Balance Sheet At 31 December 2024
The financial statements were approved by the Board of Directors of James Lloyd Almshouses Trustee Ltd, the Corporate Trustee on 15th 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 2024
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 2024
2. INVESTMENT INCOME
| 31.12.24 | 31.12.23 | |
|---|---|---|
| £ | £ | |
| Income from UK investments | 27,190 | 25,147 |
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 2024 nor for the year ended 31 December 2023.
Trustee’s expenses
There were no expenses paid to the Trustee or the Directors of the Corporate Trustee for the year ended 31 December 2024 nor for the year ended 31 December 2023.
Trustee’s donations
There were no donations from the Trustee or the Directors of the Corporate Trustee for the year ended 31 December 2024 nor for the year ended 31 December 2023.
- STAFF COSTS
| STAFF COSTS | ||
|---|---|---|
| 31.12.24 | 31.12.23 | |
| £ | £ | |
| Wages and salaries | 37,343 | 35,589 |
| Social security costs | - | - |
| Other pension costs | 2,171 | 2,098 |
| 39,514 | 37,687 | |
| The average monthly number of employees during the year was as follows: | ||
| 31.12.24 | 31.12.23 | |
| 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 2024
5. TANGIBLE FIXED ASSETS
| At 31 December 2024 DEPRECIATION Charge for year At 31 December 2024 At 31 December 2024 At 31 December 2023 Disposals At 31 December 2024 DEPRECIATION Charge for year Disposals At 31 December 2024 At 31 December 2024 At 31 December 2023 COST At 1 January 2024 Additions At 1 January 2024 NET BOOK VALUE At 1 January 2024 Additions COST At 1 January 2024 NET BOOK VALUE |
Freehold property £ 806,826 - 806,826 71,311 - 71,311 735,515 735,515 Fixtures and fittings £ 55,566 - - 55,566 48,413 4,357 - 52,770 2,796 7,153 |
Property improvements £ 27,355 11,724 39,079 12,990 3,908 16,898 22,181 14,365 Computer equipment £ 2,307 - - 2,307 2,068 79 - 2,148 159 238 |
Plant and machinery £ 43,647 - |
|---|---|---|---|
| 43,647 | |||
| 39,365 2,090 |
|||
| 41,455 | |||
| 2,192 | |||
| 4,283 | |||
| Totals £ 935,701 11,724 - |
|||
| 947,425 | |||
| 174,147 10,435 - |
|||
| 184,582 | |||
| 762,843 | |||
| 761,553 |
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 2024
6. FIXED ASSET INVESTMENTS
| Share Securities £ MARKET VALUE At 1 January 2024 613,575 Additions 174,618 Disposals (138,513) Revaluations 6,334 At 31 December 2024 656,014 NET BOOK VALUE At 31 December 2024 656,014 At 31 December 2023 613,575 All investments were held in the UK. |
Fixed Interest Securities £ 137,267 54,729 - (1,694) 190,302 190,302 137,267 |
UK Cash held as part of portfolio £ 19,574 54,719 (66,019) - 8,273 8,273 19,574 |
Totals £ 770,416 284,066 (204,532) 4,640 |
|---|---|---|---|
| 854,590 | |||
| 854,590 | |||
| 770,416 | |||
7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
| Trade debtors Other debtors |
31.12.24 £ 1,705 7,864 9,569 |
31.12.23 £ 1,351 7,709 |
|---|---|---|
| 9,060 |
8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
| Trade creditors Other creditors |
31.12.24 £ 10,568 9,107 19,675 |
31.12.23 £ 4,260 10,736 |
|---|---|---|
| 14,995 |
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 2024
9. MOVEMENT IN FUNDS
| At 1.01.24 £ Unrestricted funds General fund 1,310,577 Extraordinary repair fund 198,051 New building fund 77,175 1,585,803 Permanent Endowment Fund 83,380 Restricted funds Health and wellbeing 6,643 Stairlift 1,030 Scooter Store 797 Wet room 4,826 Kitchen 7,000 20,296 TOTAL FUNDS 1,689,479 Incoming resources £ Unrestricted funds General fund 235,315 Restricted funds Health and wellbeing - Stairlift - Scooter Store 4,000 Wet room - Kitchen 10,000 14,000 TOTAL FUNDS 249,315 Net movement in funds, included in the above are as |
Net movement in funds £ 69,242 - - 69,242 - (949) (1,030) 2,803 (689) (7,000) (6,865) 62,377 Resources expended £ (198,606) (949) (1,030) (1,197) (689) (17,000) (20,865) (219,471) follows: |
Transfer between funds £ (39,219) 11,500 27,719 - - - - - - - - - Gains and losses on investments £ 32,534 - - - - - - 32,534 |
At 31.12.24 £ 1,340,600 209,551 104,894 |
|---|---|---|---|
| 1,655,045 83,380 5,694 - 3,600 4,137 - |
|||
| 13,431 | |||
| 1,751,856 | |||
| Movement in funds £ 69,242 (949) (1,030) 2,803 (689) (7,000) |
|||
| (6,865) | |||
| 62,377 |
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 2024
10. 2023 COMPARATIVE 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 Stair lift 2,701 Scooter Store 1,595 Wet room 5,516 Kitchen - 17,709 TOTAL FUNDS 1,664,586 Incoming resources £ Unrestricted funds General fund 218,930 Restricted funds Health and wellbeing - Stair lift - Scooter Store - Wet room - Laundry 10,000 Total Restricted funds 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 4,826 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 16
The James Lloyd Almshouses Trust
Detailed Statement of Financial Activities for the Year Ended 31 December 2024
| INCOME Voluntary income Donations Investment income Income from 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 Site assistant Training Bad debts Depreciation of property improvements Depreciation of plant and machinery Depreciation of fixtures and fittings Depreciation of computer equipment Donations |
Unrestricted funds £ - - 27,190 208,125 235,315 37,343 - 2,171 334 5,205 6,150 22,325 1,120 72,880 6,431 3,369 413 3,531 12 - 240 3,882 391 - - 1,072 1,060 4,357 79 - 172,365 |
Restricted funds £ 14,000 14,000 - - 14,000 - - - - - - - - 17,000 - - - - - - - - - - - 2,835 1,030 - - - 20,865 |
31.12.24 £ 14,000 14,000 27,190 208,125 249,315 37,343 - 2,171 334 5,205 6,150 22,325 1,120 89,880 6,431 3,369 413 3,531 12 - 240 3,882 391 - - 3,907 2,090 4,357 79 - 193,230 |
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 3,063 4,663 79 - |
||||
| 208,809 |
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 2024
| 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 gains on investments Net movement in funds |
Unrestricted funds £ 1,081 863 8,905 542 4,786 10,064 26,241 198,606 36,709 27,893 4,640 69,242 |
Restricted funds £ - - - - - - - 20,865 (6,865) - - (6,865) |
31.12.24 £ 1,081 863 8,905 542 4,786 10,064 26,241 219,471 29,844 27,893 4,640 62,377 |
31.12.23 £ 924 1,175 2,114 726 4,286 9,509 |
|---|---|---|---|---|
| 18,734 227,544 |
||||
| 1,386 23,143 365 |
||||
| 24,893 |
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 2023
| INCOME Voluntary income Donations Investment income Income from 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 £ - - 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 19
The James Lloyd Almshouse Trust
Comparative detailed Statement of Financial Activities for the Year Ended 31 December 2023
| 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 gains/(losses) on investments Net movement in funds |
Unrestricted funds £ 924 1,175 726 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 1,175 726 4,286 9,509 18,734 227,544 1,386 23,143 365 24,893 |
31.12.22 £ 880 1,195 478 4,215 8,699 |
|---|---|---|---|---|
| 15,467 169,689 |
||||
| 42,958 - (108,005) |
||||
| (65,047) |
The notes form part of these financial statements Page 20