DR BABINGTON'S ALMSHOUSE CIIARITY Trustees Report and Financial Statements for the Year Ended 31 March 2024 Charity No: 218754 Page I
DR BABINGTON?S ALMSHOUSE CHARrrY CHAIRW OF THE TRusfEES REPORT FOR THE YEAR KNDED 31 MARCH 2024 The charity w&s established in the late 17th century by a Christian benefactor and provides accommodation in 7 bedsits foT elderly, incapacitated or needy iEsidents of the aTea. Thirteen trustees are responsible for the charity, they are:_ M¢sdae5 P C RaTrso N Curtis, S J Gudger. O E Jones, L S Kingham, Rev S K Marshall Mrs E.M Yates. and Messrs, Rev lall N H SmÉth. Rev C R Watts. Mr C J Ronald Major works included 2 new showeTS and a toilet also 5 new heating valves wete added. It was necessary to t8ke llp the wooden decking and clean drains. The residents are working w¢ll tog¢ther and the back garden is fiju of plants and vegetables. As the building is a listed building, improvetnents to the he*ing system are extr¢mely e¥pensive and are on holil The Trustees are satisfied with the CUTrent position. On behalf of the Trustees MRS P IL4NSON Page 2
DR BABINGTONgS ALMSHOUSE CHAJiirY Statement of Financial Aclfvities for the Year Ended 31 Mareh 2024 2023 Restricted General Fund Fund Total INCO,YE 7117 Dividends and Interest Received 15742 Rent and Heating Contribution 7973 17646 7973 17646 228)9 Total Incoming Resour¢es 25619 25619 7787 Lighting and Heating 1020 Water Rates 5964 PToperty Repairs and Maintenance 2890 Insurance Extraordinary Repair Fund 4100 Admin services 948 Miscellaneous 6684 1161 8785 2619 525 4264 782 6684 1161 12785 2619 4000 (525) 4264 782 22709 Total Resources Expended 150 Net incoming/(Outgoing) Resources for the 3475 (3475) 24820 799 28295 (2676) I Surplusl(Deficit} 00 Revaluation of Investm¢nts10837 411? (8259) Net Movement in Funds 7362 4911 272051 Fund balances at l April 2023 54081 209710 ~ 3792 Fund balances at 31 March 2024 £61443 £214621 14949 263791 £276064 Pag¢ 3
DR BABINGTON'S ALMSHOiJSE CHARrrY Ineome and Expenditure Account for the Year Ended 31 March 2024 2023 PROPERTY OTHER NOTESPROPERTY OTllER INCOME 7057 Dividends & Interest Received BaDk Interest Rent Other {1) (2) 7366 205 E5657 85 17646 (2A) 402 15742 7117 17646 7973 EXPENSES 1590 1300 Insurance Extrdordinary RepaÈT Fund Subscriptions Water Rates 1309 1310 196 736 7569 218 3681 2283 752 2050 284 343 1437 6220 464 Electricity Property Repairs Cleaning & Grounds Maintenance (4) Miscellaneous 2050 Administration Council Tax {3) {5) 439 2132 (276) 19359 3350 20853 3442 3767 SuTplus of Income over Expenditure 4531 (3617) Deficit of Expenditure over Income (3207) £150 Net Surplusl(Deficit) of Incom¢ over Expenditure Page 4
DR BABINGTON'S ALMSHOUSE CHARITY Balance Sheet as at 31 March 2024 2023 NOTES FIXED ASSETS 251059 Investments 251059 (6) (7) 266008 266008 CURRENT ASSETS Debtoib and Accnled Income 13802 Cash at Bank - Business Reserve 250 - Current Account 22 C&8h in Hand (8) 11841 250 22 14074 CURRENT LIABILITIES Creditors and Accrued Charges 12732 NET CURRENT ASSETS (9) 2057 10056 263791 276064 LESS: PTovisions for: (566) Future cyclical repaÈrs & tllaintenance 53515 Extraordinary Repairs (54081) (10) {io) {566) 60877 (61443) Represented by:_ ACCUMULATED FUND 112277 Capital 97433 Income (li) (12) 117546 97075 Page 5
DR BABINGTON'S ALMSHOUSE CHARfTY Notes to the Aeeounts for the Year Ended 31 Mareh 2024 (I) DIVIDENDS & INTEREST RECEIVED 2023 2024 Clkarities Official Investment Fund Incom¢ Sbares Charifimd lllcom¢ Shares Multi Asset Fund 1483 3899 1675 1483 4016 1867 (2) BANK INfEREST £60 £205 Ll Other- Bank Charges- Compensation £402 (3) PROPERTY REPAIRS Decking. clean dratns 2 showers, toilet Decorating 5 Heat Valves Flooring Garden Bin Locks & Keys, etc Wasp Nest Removal Repair Door 76 974 1245 308 986 70 22 1650 1230 55 29 58 40 36 2 New Showers - RtrICted Funds £NIL £40(M) (4) CLEANING & GROUNDS MAINTENANCE Cleaning Garden Maintenance 1699 584 1783 Page 6
DR BABINGTON'S ALMSHOUSE CHARITY Notes to the Accounts for the Year Ended 31 March 2024 (5) scELLA1¥EOUs 2023 2024 Christmas Preselltslgifts Hire of Room Accountant Sunthy TV Licences Advertising 191 15 195 23 30 298 l81 205 23 30 439 (6) PROPERTY The property was acquircd by the Charity ill the 17 Century with additio¥ early in t 19 C¢nttlly. It has not been possible to determine the original cost and the Tnths have not deemed it necessary to obt2in a professional valuatioffj therefore no value is placed on the lalld and buildings controlled by the charity. (7) INVESTMENTS CAPITAL Clwkfund Income Shares (400 units) 5932 2722 Charities Official Investtll¢nt Fund Encome Shares 51001 47866.521 Charity Multi Asset Fund 42754 5824 i5617 43515 4956 INCOME ChaTifimd Itkcom¢ Shares (4269.79 units) 63 EXTIL4ORDINARY REPAIR FUND Charities Official Envestm¢nt Fund Accumul1On Fund (384.65 units) Total Valued at Market Value on 31 March 2024 £251 (8) DEFfoRS AND ACCRUED INCOME Rents Receivable Accrued Income Page 7
DR BABINGTON'S ALMSHOUSE CHARrrY Notu to the Accoujjts for th¢ Year Ended 31 March 2024 2023 2024 (9) CREDITORS AND ACCRUED CHARGES Wat 250 547 195 150 200 500 748 Accounts Electric Rents In-advance Maintenance 424 120 057 (10) PROVISION FOR EXTRAORDINARY REPAIRS OFening Balance Trnnsfer tol(from) Revenue Revaluation SuTplus/(Deficit) 53748 525 (758) 53515 (3475) 10837 £535 FUTURE CYCLICAL REPAIRS & MAKNTEIYANCE FUND Balance - opening and closing £566 £566 (I I) ACCUMULATED FUND - CAPITAL ACCOUNr Opening Balance Revaluation SuTplusl(Deficit) 115809 (3532) 112277 5269 77 117 (12) ACCUMU"LATED FUND- INCOME ACCOUNT Opening Balance (Defi¢it}/Surplus of Income over Expenditure Revaluation Surplll(DefiClt} 101927 (375) (4119) 97433 799 (1157) Page 8
lDEPEN}}ENT EXAMIKER'S REPORT TO THE TRUSTEES OF DR BABjGToN's ALMSHOUSE CHARTrY l TeiKIrt on the accounts of the Trust for the year ended 31.3.2024 which are set out on pages Ito8. RpectIVe responsibilities of trnstees and examiner As the cknity's ttustees you are responsible for the preparation of the accounts" you consider that the audit requirement of section 43(2) of the Charities Act 1993 (the Act) does not apply. It is my responsibility to stste, on the basis of procedures sCIfied in the General DÉTections given by the CharÈty Commissioners under section 43 (7)(b) of the Ael whether particular atteis have con]e to my attention. Basis of imdepeudent examiner's report My eXamItion was carried out in accordance witb the General Dire¢tions given by the Clwity Conllnissioners. An exarnination includes a Teview of the accounting rerdS kept by the chaJity and a comparison of the accounts presented with those records. It also includes consideration of any unusuaI lten or disclosures in the accounts, and seeking explanatioDS from you as truste¢s concerning any such matters. The pmcedures undertaken do not provide all the evidence that would bc required in an audiL and ronsequendy I do not express an audit opinion on the view given by the accounts. Independent examiner's statement In coDneCtiO with my examination, no ntter has Come to my attention: (l) which gives me reasonable cause to believe that in any matrfial respect the requirements to keep accounting records in accordance with section 41 of the Act. and to prepydre accounts wkn'ch accord with the accounting Tecords and to comply with tbe accounting requirements of the Act have not been met. or (2) to which, in my OPiDion, attention should be drawn in order to enable a proper Understanding of the accouuts to be r¢ached. Name: J A Murphy I l Rumsey Close QUORN LE12 8EZ 11 Nfyl 201* Page 9
DR BABUICTON'S ALMSHOUSE CHARrrY tARKET VALUT OF INVESTMENTS CAPITAL ACCOUNT 311312023 311312024 Market Value Market Value Charifund Income (400 Units) 5932 5824 CCLA C.O.l.F. Income Shares (2722) 51001 55617 M & G Charity Multi Asset Fund (47866.521) 42754 43515 99687 10495 INCOME AccoiINr Charifjjnd Income(1093 units) 16211 15915 Charifund Income {1469.53 units) 21796 2l398 Charifund lT)come (1070 units) 15870 15580 Charifvnd Income (637.26 units) 9452 9279 63329 62172 CCLA C.O.I.F. A¢cumulation Fund (384.65) 88043 98880