THE SPALDING ALMSHOUSE CHARITY
CHARrrY COMMISSION REGISTERED NO. 220077
STATEMEKf OF ACCOUNTS
for the year ended
31 December 2022
Administered by
THE SPALDING TOWN HUSBANDS

THE SPALDING ALMSHOUSE CHARrrY
CHARrrY INFORMATK)N
Registered Address
12 Broad Street,
Spalding.
Lincs.,
PE11 1TB.
Td." 01775 768774
Clerk
Mr P.W. Skells
Deputy Clerk
Mrs R. Englis
Administrator
Administrative a￿Stsnt
Mrs T. Griggs
Miss J Mulraney
Cwptative Trustees (appointed under
the Scheme for five-year temis by the
Trustees)
Mr R. Hancox (Chairman)
Mr D.A.J. Gratton (Wice£hairman)
Mr G.C.M. Adams
Rev. J. Bennett
Mrs D. Clay
Mrs P.G. Keeling M.B.E ,D.L.
Mr R.A. Knipe
MrJ.H.P. Ltster
Mr C.R.M. Longstsff
Mrs B.K. Ruysen
Dr. A Stone
Nominative Trustees (appointed u￿ler
the Scheme by the South Hdland
District Council for four-year tem￿)
Cllr. E Sneath
Cllr. A.M. Newton (Deceased 30 August 2022)
Bankers
Lloyds Bank Plc.
Hdl Place.
Spalding,
Lincs..
PE11 1SF.
Independent Examlner
K.J. Maggs B.A.. F.C.A.
Chartered AccountanL
16 Hoekman Way
Spalding.
Lincs..
PE113HE
Page 1

THE SPALDING ALMSHOUSE CHARrrY
TRUSTEES REPORT
FOR THE YEAR ENDED 31 DECEMBER 2022
The Trustees present trEir report and accounts for the year ended 31 D8￿rnber 2022.
Governance and Management
The Scheme - The Spalding Almshouse Charity is regulated by a scheme of the Charity
Commissioners of 13 August 1971 as varied from time to time. registered number 220077.
Trustees- The Charty is administered by Trustees knovm as the Spalding Town Husbands.
Particulars of the Trustees and their methoj of appointment are set out on page 1, together with the
address of the Charity's registered offi￿. On appointrnen( Trustees are provided with a detailed
infonnalion pack which covers all aspects of the Chanty, its constitutton, assets and day to day
management. The TnJstees consider the infomiation is sufFictent for the appointee to be in a position
to act in such capacty. The Trustees meet on a quarterly basis. and at other tirnes rf the need arises.
The Charity is managed on a day to day basis by the Clerk. the Deputy Clerk and the Administrator
in wnsultation, when ne￿Ssary, ￿1th the Chaimian. Alms people have ready access to the Clerk.
the Deputy Clerk and the Administrator should the need arise.
At the Annual General Meeting in March 2022, Mr. R Han￿X was re-appointed as Chairman of the
Trustees and Mr D. A. J. Gratton was re-appointed as Vice-chainnan.
Risk Management- The Trustees have assessed the major risks to which the CharEty is exposed, in
particular those related to the management of its investments and finances, and are satisfied that the
policies and systems in place sufficienty manage its exposure to those risks.
Related Party- The Charity is connected wtth the Spalding Relief in Need Charity, which is also
administered by the Spalding Town Husbands under the Scheme.
Objecllves and Actlvities
Objècts - The Trustees, objects are to provide almshouses for the benefft of alms people.
Aims - The Trustees. aims are to maintain the Charivs almshouses lo a high standard and to
increase the stock of almshouses when resourc£s permit.
Alms people - To be selected as such, almshouse people are required under the terms of the
Scheme io have been residing in the area of benefrt and to be p￿r persons or {in the oase of not
less than eight almshouses) F)oor aged persons.
Area of Benefrt- This is defined %Mthin the Scheme as the District of South Holland in the County of
Lincolnshire, with a preference for the area comprising the Urt)an District Council of Spalding as
onstitutod on 13 August 1971 and the Parishes of Cowbit, Deeping St. Nicholas, Pinchbeck and
Weston, in the County of Lincolnshire.
The Trustees consider that the objectives and acbvwties of the Charity are in accordance wth the
Charity Commission's general guidance on public benefft.
A new policy for appointing Residents was dravm up and agreed
Summary of Main Achievements and Events
It is with regret that the trustees report that Councillor Angela Newton. an existiro Town Husband.
and Miss Patricia Sykes. a former Town Husband. passed away during the year.
During the year, seven almshouse varAncies ocojrred. and new beneficiaries were appointed to fill
the vacancies.
Page 2

THE SPALDING ALMSHOUSE CHARITY
TRUSTEES REPORT (continued)
FOR THE YEAR ENDED 31 DECEMBER 2022
Summary of Maln Achievements and Events {continued}
During the year enquiries were made of various loc21 builders about the possibility of building new
almshouses. No specific proposals V￿re forthcoming and the Trustees decided to concentrate
resources on refurbishing the existing almshouses where required, particularly at Bowditch Road.
The Trustees agreed to instruct a surveyor. Chris Penney. to advise on building matt6rs and act as
project manager on larger refurbishments.
During the summer all almshouses were inspected by the Trustees and reFQrts prepared on
outstanding issues.
In June a tree planting ceremony was held at Rosemary Close to commemorate tho Queen's
Platinum Jubilee and VRS attended by Sir John Hayes MP, Lord Porter of Spalding, Nick Phillips,
Chief Executive of the Almshouse Association and Trustees and residents. The ceremony was
followed by a tea paty for residents at St Nort)erfs Church Hall.
On 23 June the Almhouse Association held a Conferen￿ for representatives of Lincolnshire
Almshouse Charities in Spalding.
Other social events arranged for residents were a trip to the seaside and a visit to the pantomime in
Detsmber followed by a Christsnas lunch at Waterside Garden Centre. A presentation was made to
one resident upon reaching her 100 birthday.
Financial Review
The details of the financial transactions during the year are shown in the Ststement of Financial
Activities, on page 6, vthilst the Financial Position is shown on the Balance Sheet on page 7, along
th the n￿ssary detsils in the notes on pages 8 to 18.
General Fund and Reserve Funds- The weekly maintenance CLmtributions from alms people and
the income from investments forming part of the Endowment Fund are credited to a General Fund.
The General Fund is an unrestricted fijnd. the main purposes of which are to defray routine
MaintenaTr￿ expenses and to meet other costs incurred in the management of the almshouses
(note 31.
In setting the weekly maintenance contributions, the Trustees budget for the cost of maintenance of
the almshouses in accordan￿ V￿th recommendations made by the National Almshouses
Association. The recommendations are for an amount to be induded for the cost of routine
maintenance and this is credited to the General Fund. and for further amounts to be included for the
costs of extraordinary repairs and cyclical maintenance and these are transferred to two reserva
accounts, namely, an Extraordinary Repair Fund and a Cydical maintenan￿ Fund. The
Extraordinary Repair Fund and the Cydical maintena￿ Fund are also unrestricted funds the main
purposes of which are explained in note 11. The full details of the three unrestricted funds are glven
in such note.
During the year, maintenance and repair costs amount￿ to £105,447 {2021- £86,900). of which
£56,893 was met from the General Fund. £48,554 was met from the Cyclical Maintenance Fund and
£0 was met from the Extraordinary Repair Fund.
Page 3

THE SPALDING ALMSHOUSE CHARITY
TRUSTEES REPORT (continued)
FOR THE YEAR ENDED 31 DECEMBER 2022
Flnanclal Revlew (continued)
During the year. the Charity has received unrestricted funds of £245,290 (2021- £228,659). After
expenditure, net incoming unrestricted funds amounted to £44,990 (2021- £71,658). The level of
unrestricted ftjnds at the year end amounted to £511.602 (2021- £480,686). of which the General
Fund represented £95.722 (2021- £113,824), the Extraordinary Repair Fund represented £288,345
{2021- £251,332) and the Cydical Maintenance Fund represented £127,535 {2021- £115,530).
Restricted Fund - During the year. the Charity has receivgj restricted fvnds of £11 (2021- £0). The
full details of the Restricted Fund appear in note 10.
Endowment Fund - The level of the Endowment Fund at the year end amounted to £683.808 (2021-
£737.558}. The full details of the Endowment Fund appear in note 9.
Investments - Investment of the Endowment Fund and the Extraordinary Repair Fund is under the
direct control of the TrUSt￿s. Common Investment Funds are ojrrently the Trustees, preferred
investment vehicle for surplus cash in such funds as they are speafically designed for charities and
therefore manage the risks inherent in the investment markets.
BY ORDER OF THE TRUSTEES
P.W. Skells
Clerk.
Page 4

INDEPENDENT EXAMINER'S REPORT
TO THE TRUSTEES OF THE
THE SPALDING ALMSHOUSE CHARrrY
I report to the trustees on my eXami￿*￿n of the accounts of the d)arity for the year ended
31 December 2022 which a￿ set out on pages 6 to 18.
Responslbilities and basis of report
As the charity's trustees you are responsible for the preparation of the accounts in accordance with
the requirements of the Charib'es Act 2011 ('the Acr).
I report in respect of my examination of the charitls accounts carrigj out under section 145 of the
Act and in carrwng out my examination I have followed all the appli(able Directions given by the
Charity Commission under section 145(5)(b) of the ACL
Indepondent examinevs statement
I have completed my examination. I confirm that no material matters have come to my attention in
connection with the examination grving me Cause to believe that in any material respect:
1. accounting records were not kept in respect of the d￿rity as required by sectFon 130 of the Act.
or
2. the accounts do rK)t accord with those recor(Is' or
3. the accounts do not ts)mply with the applicable requirements Con￿rning the fom and content of
accounts set OLrt in the Charities (Accounts and Reports) Regulations 2008 other than any
requirement that the accounts give a Yrue and fair view whid) is not a matter considered as part
of 8n independent examination.
I have no concems and have come across no other matters in connection wtlh the examination to
which attention should be drawn in this report in order to anable a proper understanding of the
accounts to be reached.
Dated.. .(?.￿p￿￿￿2￿S....
.A., F.C.A.
¢J)untants
Chartere
Spalding
Page 5

THE SPALDING ALMSHOUSE CHARfTY
STATEMENT OF FINANCIAL ACTMTIES
FOR THE YEAR ENDED 31 DECEMBER 2022
unrestrict￿ Restricted Endowment
Funds
Fund
Fund
2022
Total
2021
Total
Note
INCOME
Garage rent
Income from investments
140
15,784
15.924
21,173
22,013
22.￿2
11
Charitable activttlos
Almshouse management
TOTAL INCOME
223,288
245,290
223,288
245,301
212,735
228.659
EXPENDITURE
Charitable activities
Almshouse management
Direct almshouse costs
Support costs
Cyclical maintenance
Extraordinary repairs
Other expendituro
TOTAL EXPENDITURE
94,946
46,090
48,554
68,986
42.927
51,252
1.260
46.090
48.554
11
2,650
192,240
2,650
192,240
3.228
167,653
Net surplus for the year
Net (losses) I gains on
investments
53.050
11
53,061
61,006
(8.060)
{53.750>
(61,810)
39.195
NET (DEFICIT) I SURPLUS
Transfers between funds
44,990
11
(53,750)
18.749)
100,201
14.074
14,074
NET MOVEMENT IN FUNDS
30.916
14.085
(53.750)
(8,749) 100,201
Fund balances as at:
31 December 2021
31 December 2022
480.686 3.111.857
511,602 3.125,942
Note11
737.558 4.330,101 4,229,900
683,808 4,321.352 4.330,101
Note 9
Note 10
The notes on pages 8 to 18 fomi a part of these accounts

THE SPALDING ALMSHOUSE CHARITY
BALANCE SHEEr
AT 31 DECEMBER 2022
2022
2021
FIXED ASSETS
Almshouses
Investrnents
3.395,339
505.311
3,395.339
562,341
3,957.680
CURRENT ASSErs
Short-term dewJsits
Debtors
Spalding Relief In Need Chanty
Prepayments
Cash at bank
3,900,650
447.257
671
2,109
2.722
7,374
460,133
402,711
1.117
2.109
2,684
12,776
421,397
CURRENT LIABILITIES
Amounts falling due wthin one year 7
5.744
5.744
13,914
13.914
NET CURRENT ASSETS
TOTAL ASSETS LESS CURRENT
LIABILITIES
454,389
407,483
4.355.039
4,365,163
CREDITORS
Amounts falling due after one year
TOTAL ASSETS
33.687
35,062
4.321,352
4,330,101
CAPITAL FUNDS
Endowment Fund
Restricted Fund
683.808
3.125,942
3.809,750
737,558
3,111,857
3,849,415
10
GENERAL AND RESERVE FUNDS
Unrestricted funds
511.602
480,686
4.321.352
4,330,101
The fina
teme ts on pages 6 to 18 were approved by the Trustees on
..2023 and signed on their behalf by.
Mr R. Hancox
Trustee
. Gratton
The notes ￿ pages 8 to 18 fom7 a part of these accounts

THE SPALDING ALMSHOUSE CHARrrY
NOTES TO THE ACCOUNTS
FOR THE YEAR ENDED 31 DECEMBER 2022
The abbreviations 'E.R.F." and "C.M.F." as used in these notes maan respectively the
Extraordinary Repair Fund and the Cydr￿1 Maintenance Fund partrculars of which are given in
note 11.
1. Accounting Policies
The significant accounting polioes applied in the preparation of these financial statements are
set out below. These polioes have been consistently applied to a51 years presented unless
otheThvise stated.
(a) Basis of preparatlon of financlal sL*ements.
The charity constitutes a public benefrt entity as defined by FRS 102. The financial
statements have been prepared in accordance with Accounting and Reporting by Charities..
Statement of Recommended Practice applicable to charities preparing their accounts in
accordance wlth the Finanaal Reporting Standard applicable in the UK and Republic of
Ireland issued in October 2019. the Financial Rewrting Standard applicable in the United
Kingdom and Republic of Ireland {FRS 102), the Chartlies Act 2011 and UK Generally
Accepted Accounting Practice.
The financial statements are prepared on a going COn￿M basis under the historical cost
convention. modified to indude ￿rtain items at fair value. The financial statements are
presented in sterling vthic* is the fijndional currency of the Charity.
(b}Funds
Unrestricted funds are available for use at the discretion of the Trustees in furtheran￿ of the
general objectives of the Charity and which have not been designated for other purposes.
The Restricted Fund represents those assets which have been designated for a specific
purpose (see note 10).
The Endowment Fund represents those assets whic* must be held pemianently by the
Charity (see note 9).
The Endowment Fund and the Restricted Fund are represented principally by investments
and almshouses. Any capital gains or losses arisiry on the investrnents or almshouses fall to
be treated as part nf the fund of whith thoy form part. Endowmont Fund incomo can be u8ed
in furtheran￿ of the general objectives of the Charity and is induded as unrestricted income.
(c) Income recognition
All incoming reSour￿S are induded in the Statement of Financial Actiwb'es (SOFA) when the
Charity is legally entitkd to the income after any perfomiance ￿nditionS have been met, the
amount can be measured reliably and it is probable that the income will be received.
Investment income is rec¢>3nised in the accounts vthen the amount can be measured reliably
and the Charity's right to receive payment is established.
Legacies are recognised in the financial statements at the eadier of receipt or communication
from the personal representatives of the estate adwsing that a payment of the legacy will be
made, or that property bequeathed be transferred. Where a legacy has conditions
associated the payment then the bequest is onty recognised vthen all conditions have
been met.

THE SPALDING ALMSHOUSE CHARrrY
NOTES TO THE ACCOUNTS (continued)
FOR THE YEAR ENDED 31 DECEMBER 2022
1. Accounting Policies Iconllnued)
(d)Weokly Maintsnance Contrlbutlons
Weekly Maintenan￿ contributions from almspeople include the cost of routine maintenan
of the almshouses belonging to the Charity and the amounts transferred to the E.R.F. and the
C.M.F.. all of ￿lch a￿ determined in accordance wtlh guidance and regulations issued by
the National Amshouses Association.
(e) Expenditure recognition
Expenditure is accounted for gross on an accruals basis and has been classified under
headings that aggregate all costs related to the calegory.
Charitable activities exp6nditure include all resources applied by the Charity in undertaking tts
charitable objectives as opposed to support costs.
(fj Almshouses
The almshouses belonging to the Chaiity have been included at the valuations detailed in
note 4.
The almshouses are functional assets of the Charity in the furtherance of its objects, but are
not depreciated on the grounds provision is made wthin the E.R.F. and the C.M.F. to ènsure
that the residual value is not materialty lower than the carrying value.
(g) Debtors and credltors recelvablelpayable within one year
Debtors and creditors wth no stated interest rate and receivable or payable within one year
are recorded at transaction pri￿. Any losses arising from impairment are re(x)gnised in
expenditure.
(h) Investments
Quoted investments are shown at their fair value at the balance sheet date {see note 5). Any
movement in their fair value is recognised in the SOFA.
(i) Resources expended
Charitable acttvith'es indude all resour￿ applied by the Chaiity in undertaking its charitable
objectFves as opposed to governan￿ costs. They are the reSoUr￿S expended in managing
the almshouses.
(h)Going Concem
The financial statements have been prepared on a going cOn￿M basis as the Trustees
believe that no material uncertainties exist The Trustees have considered the level of funds
held and the expected level of income and expenditure for 12 months from authorising these
financial statements. which is suff￿1&nt wtlh the level of reserves of the Charity to be able to
continue as a going o)ncem.
Page 9

THE SPALDING ALMSHOUSE CHARrrY
NOTES TO THE ACCOUNTS {continued}
FOR THE YEAR ENDED 31 DECEMBER 2022
2. Income from investments
Unrestricted Restricted
Funds
Funds
2022
Total
2021
Total
Endowment Fund
Black Rock Charities UK Bond
Fund A- Inc
M&G Charity Multi Asset Fund -
Inc
C.O.l.F. Charities Investment
Fund - Inc
l.F.S.L. C.A.F. Fixed Interest B-
Inc
C.O.l.F. Deposit Acrount
2,540
2,540
1.733
1,733
1,634
6.789
6.789
6,615
1.170
1,170
1,005
797
797
13.029
13,029
11,802
General Fund
C.O.l.F. Deposit Account
E.R.F.
M&G Charity Multi Asset Fund -
913
913
1.207
1,207
1,027
Black Rock Charities UK Bond
Fund A- Acc
1.543
1,322
M&G Charity Multi Asset Fund -
2.030
2,030
1.589
C.O.l.F. Deposit Account
virgin charity de￿$It account
1.216
17
1,216
17
12
6.013
6.013
3,957
C.M.F.
C.O.l.F. deposit account
Restricted Fund
C.O.l.F. Deposit Account
1.207
1,207
14
Total Investment Income
21,162
21,173
15,784
Page 10

THE SPALDING ALMSHOUSE CHARrrY
NOTES TO THE ACCOUNTS (continued)
FOR THE YEAR ENDED 31 DECEMBER 2022
3. Alm5houso Management Account
2022
2021
WEEKLY MAINTENANCE CO￿[BuT10Ns
223,288
212,735
EXPENDITURE
Direct almshouse costs
Routine rnaintenan
Telephone and Lifeline service
Water and sewerage tharges
Empty propety costs
56.893
16.197
21,605
251
34.388
14,142
19,191
1,265
94.946
Support costs
Clerks, remuneration
Clerks, office expenses
Professional fees
National Almshouses Assoo'ation
Comprehensive insuran
Advertising and website
Sundry expenses
Social activits'es
68,988
34.013
1.635
1.056
461
5,853
430
144
2.498
31,200
1,500
960
6,923
566
97
817
Other expendtture
Bad debts
Accountarrts fees
42.927
2.6
3.228
2,650
3,228
143.686
Excess of income over expenditure before
provision for cyclical maintenance and
extraordinary repairs (see note 11)
115,141
79,602
97.594
During the year, remuneration was paid to any of Trustees.
Travel expenses were re-imbursed to the fcAlowing Trustee and Clerk for their attendance at
various National Almshouse Aswiation meetings and conferences:
2022
2021
P.W. Skells
109
67
Related party transaction
The Spalding Rdief in Need Charty is under the control of a common Board of Trustees.
Page11

THE SPALDING ALMSHOUSE CHARrrY
NOTES TO THE ACCOUNTS (contlnued)
FOR THE YEAR ENDED 31 DECEMBER 2022
4. Flxed Assets - Almshouses
2022
Unlts
2021
Units
2022
2021
Restricted Fund
Kingston Cottage Homes - 1907
7 South Parade, Spalding
Masham Homes - 1961
2-8 Green Lane, Spalding
Mary Gage Hon7es- 2010
2a & 2b Green Lane, Spalding
Alice Wilson Homes
169 -179 Winsover Road. Spalding - 1980
181 & 183 Winsover Road, Spalding - 2011
Adrian Gall Homes - 1968
1 & 3 Clay Lake and 2248 Bowditth Road.
Spalding
Lucille Van Geest Homes - 1994
2 & 4 Hoekman Way. Spalding
2-24 Hoekman Drive, Spaldin9
8a Hoekman Drive- 2011
Gamlyn Almshouses - 2008
59-n Clover Way, Spalding
John Van Geest Hom8s- 2015
Rosemary Close & Larkspur Way, Spalding
18 Brownlow Cre￿nI, Pinthbeck- 2013
29.500
29,500
126,¢)00
126,000
192,891
192,891
258,409
156,225
258,409
156.225
17
16
550,937
550,937
69.000
408,000
83,026
69,000
408,000
83,026
12
12
10
10
623,475
623,475
10
10
678,579
78.297
678,579
78.297
67 3,254.339 3,254,339
Endowment Fund
Edwin Dalton Homes - 1938
1 & 3 West Parade. Spalding
TumerAlmshouses - 1962
37 & 39 Knight street. Pinchbeck
66.000
66.000
75.000
141,000
75,000
141,000
Total Book Value
72
71
3,395,339 3,395,339
A Properties are recorded at valuation as prepared by Messr5 Munton & Russell in January
1995 in accordance with guide lines issued by the Royal Institute of Chartered Surveyors.
A The Bowditch Road properbes are induded at the valuation as above plus the cost of 32A
Bowditch Road when 32 Bowdttch Road was converted during 2021.
Properties are valued at cost.
C Properties were valued, as above in A in January 1995 at a value of £201,000. The value was
increased by the cost of refurbishment during 2011 to two of the original units.
D Properbes are recorded at valuation as prepared by Messrs Munton & Russell in May 1998 in
accordance with guide lines issued by the Royal Institute of Chartered Su￿eY0rS.
Page 12

THE SPALDING ALMSHOUSE CHARrrY
NOTES TO THE ACCOUNTS (contlnued)
FOR THE YEAR ENDED 31 DECEMBER 2022
4. Flxed Assets - Almshouses (continued)
The Edwn Dalton Homes and Tumer Almshouses were fomierly part of the endowment capltal of
charities that merged wilh the Spalding Almshouse Charity. Accordingty they are trealad as part
of the Endowment Fund.
The Trustees estimate that the approximate market value of the almshouse stock wouid be in the
region of £6.75 million. These types of property are unusual in nature and do not often come
onto the open market and as a result definilive valuations are difficult and often subjecttve. The
Trustees consider that the cost of Obt￿nIng an up to date professional valuation would outweigh
any benefrt.
5. Fixed Assets - Investments
Unlts held Market value Acquisitionsl lknvement Market value
at 3111W22
at 01101122 (Disposals)
in value
at 31112122
Endowment Fund
Black Rock Charities
UK Bond Fund A- Inc
M&G Charity Multi
Asset Fund - Inc
C.O.l.F. Charities
Investment Fund - Inc
42.326.437
77.923
(16,550)
61,373
49,511.000
45,129
{1,228)
43.901
12,510.260
257,291
{29,918)
227,373
l.F.S.L. C.A.F. Fixed
Interest Fund B - Inc
E.R.F.
M&G Charity Murti
Asset Fund - Acc
34.690.261
34.649
(6,054)
28,595
310.000
32.458
1,207
1951)
32,714
M&G Charity Multi
Asset Fund - Acc
Black Rock Charities
Growth & Income
Fund Class A- Acc
521.535
54,607
2,030
(1.599)
55.038
48.971.596
60,284
1,543
(5.510)
56,317
Balance at 31 December 2022
562,341
4,780
61,810)
39,195
505,311
BalanrE at 30 Deomber 2021
519,207
3.939
562,341
Page 13

THE SPALDING ALMSHOUSE CHARrrY
NOTES TO THE ACCOUNTS (contlnued)
FOR THE YEAR ENDED 31 DECEMBER 2022
6. Short-Term Deposits
2022
2021
C.O.l.F. deslgnated deposits:
Endowment Fund
General Fund
E.R.F.
C.M.F.
Restricted Fund
87.072
74.855
143,181
135.709
1,159
441,976
75,748
93,938
102,905
123,704
1,148
397,443
Vlrgin Charlty Deposit Account
E.R.F.
5.281
447,257
5,268
402,711
7. Creditors Amounts falling due wlthin one year
2022
2021
Mortgage debt (see note 8)
Activity creditors
Accruals and deferred income
1.375
491
3,878
5,744
2,750
844
10,320
13,914
8. Creditors Amounts falling due after one year
2022
2021
Mortgage debt
33,687
35,062
The mortgage referred to in this note (and in notes 7 and 10) is in respect of consideration
monies left outstsnding by South Holland DistrFCt Council for the site purchased from tho Council
on which the Mary Gage Homes now stand. The mortgage is interest free. and is being repaid
over 40 years by hair yearty instalments of £687.50.
Page 14

ThE SPALDING ALMSHOUSE CHARITY
NOTES TO THE ACCOUNTS (Continued)
FOR THE YEAR ENDED 31 DECEMBER 2022
9. Endowment Fund
The endowment capital includes the Ed￿ryn Dalton Homes, Tumer Atmshouses and investments
together with the loan capital described below.
The fund represents donated monies and assets which are held on trust to provide expendable
Income for the general purposes of the Charity. this income is credited to the General Fund.
The endowment capital is hdd as follows:_
Market
value
31112121
Market
value
31112122
Movement
in funds
Change
in value
Almshouses (see noto 4)
Loan capltal
141,000
141,000
(1)
(2)
14.780
91.038
105.818
414,992
(5.724)
5,600
(11,324)
9.056
85,438
94,494
361,242
Investments (see note 5)
C.O.l.F. deposit account (see
note 6)
Balance at 31 December 2022
(53,750)
75.748
11.324
87,072
737,558
{53.750)
683,808
Balance at 30 December 2021
709,015
28.543
737,558
Loan capital represents capital monies transferred from the Endovmient Fund to the Restricted
Fund (wth the consent of the CharFty Commissioners when required) and comprises the
Loan capital (11 represents transferred (3pital monies used to assist with the cost of constructing
tha Lucille van Geest Homes (part of the Restricted Fund) and is being repaid over 30 years at
an annual rato of £5,724.37.
Loan capital {2) represents transferrgj monies used to assist with the cost of constructing
tho Gamlyn Amshou8e8 (part of the Re3triGted FuThJ). and is being repald over 30 years ai an
annual rate of £5,600.00.
Pagg 15

THE SPALDING ALMSHOUSE CHARITY
NOTES TO THE ACCOUNTS (continued)
FOR THE YEAR ENDED 31 DECEMBER 2022
10. Restrlcted Fund
The Restricted Fund comprises donated monies held on trust to be applied for the provision of
almshouses and further funds allocated for such purty)se by the Trustees from General and
Reserve Funds.
The Restricted Fund capital is held as foll¢JWS:_
Balan
at 01101122
New monies
received
Payments
Balance
and transfers at 31112122
Almshous85 (seg note 4)
Loans from endowment capltal
(see note 9)
Short term deposits {see note 6)
Mary Gage Homès:.
rtgage (see note 8)
Balance at 31 December 2022
3,254.339
3,254.339
(105.818)
11,324
(94.494)
1.148
1,159
(37,812)
3,111.857
2,750
(35,062)
3,125,942
11
14.074
Balance at 30 December 2021
3.075.595
36.262
3,111,857
Page 16

THE SPALDING ALMSHOUSE CHARITY
NOTES TO THE ACCOUNTS {continuedl
FOR THE YEAR ENDED 31 DECEMBER 2022
11. General and Reserve Funds
Unrestricted funds of the Charity include, in addrbon to the General Fund. the reserve funds
which have been set aside by the Trust￿ for spectfic purposes. namely the E.R.F. and the
C.M.F. Amounts credited to the E.R.F. and the C.M.F. from the Almshouse Management Account
are in accordance with the recommendations made by the National Almshouses Association. The
purpose of the E.R.F. is to have monies availatAe for the extraordinary repair. improvement or
rebuilding of almshouses. The purpose of the C.M.F. is to have monies available to meet
maintenance costs occurring at regular inlervals, e.g. irrtemal and extemal redecoration and thè
cost of professional fees in resFeCt of Quinquennial Inspections and such maintenance is
managed in line with the reports generated by such inspections.
2022
Total
2021
Total
E.R.F.
C.M.F.
General
Balance at 1 January
2022
mshouse
Management Actt)unt
(see note 3)
Income from
investments (see note
251,332
115,530
113.824
480,686
445,290
39.060
{17.042)
79.602
97,594
6.013
1.207
13,942
21,162
2)
15,784
Other income
Extraordinary and
cyclical maintenar
Change in value of
investments (see note
140
(48,554)
{48,554)
152,5121
(8,060)
5)
(8.060)
10,652
Transfers
Balance at 31
December 2022
1,768
(15.842)
(14,074)
(36,2621
288,345
127.535
95,722
511,602
480,686
Investments (see note
144,069
144,069
147,349
Short-Term Deposits
(see note 6)
Cash at bank
Debtors
Other debtors
Prepayments
Creditors
Balances between
funds
Balance at 31
December 2022
148,462
135.709
74,855
359.026
325,815
7,374
671
2,109
2,722
(4.369)
7,374
671
2.109
2,722
(4,369)
12,776
1,117
2,109
2,684
(11,164)
(4,186)
(8.174)
12.360
288.345
127,535
95,722
511.602
480.686
Page 17

THE SPALDING ALMSHOUSE CHARITY
NOTES TO THE ACCOUNTS (continued)
FOR THE YEAR ENDED 31 DECEMBER 2022
12. Control
The Charty is controlled by the Trustees as a body. No individual Trustee has any control over
the Charity.
13. Legacles and Bequests
The Trustees have been made aware that lrfe interest trusts have been established by the Will of
the late Handley Tony Stephenson who died in 2004 and the Will of the late Landale Armstrong
Scragg la long serving Spalding Town Husband) who died in 2002, and that each of such trusts
names the Charity as the benefioary of the trust fvnd on the death of the lrfe tenant. The capital
of the Handley Tony Stephenson Will trust was originally £150,000. However, in the case of the
Landale A￿strong Scragg Will trust the relevant Trustees have power to advan￿ the trust
capital to the life tenant. Subject, therefore, to any exercise of such power of advan*ment. the
trusl fund wll in each case vest in the Charity on the death of the life tenant.
14. Statsment of Financial Actjvttles - Comparatlves
Unrestricted Restrict&J Endowment
Fund
Fund
Fund
2021
Total
INCOME
Voluntary Income
Garage rent
Income from investments
140
15.784
15,924
140
15,784
15,924
Charitsble actlvltles
Almshouse management
TOTAL INCOME
212.735
228.659
212,735
228,659
EXPENDrruRE
Charitable activllles
Almshouse management
Direct almshouse costs
Support costs
Cyclical maintenan
Extraordinary repairs
Other expendlture
TOTAL EXPENDITURE
68,986
42,927
51.252
1,260
3.228
167,653
68,986
42,927
51,252
1.260
3,228
167,653
Net galns on investmonts
10.652
28,543
39,195
NET INCOME
71.658
28,543
100,201
Transfers between funds
NET MOVEMENT IN FUNDS
36.262
36.262
100 201
Pag8 18