**Charity Registration No. 220417**
## **GOSLING HOUSE**
## **UNAUDITED**
## **TRUSTEES’ REPORT AND FINANCIAL STATEMENTS**
**FOR THE YEAR ENDED 31 DECEMBER 2021**
## **GOSLING HOUSE**
## **CONTENTS**
||Page|
|---|---|
|Reference and administrative details of the charity, its trustees and advisors|1|
|Trustees’report|2–3|
|Independent examiner’s report|4|
|Statement of financial activities|5|
|Balance sheet|6|
|Notes to the financial statements|7 - 12|
## **GOSLING HOUSE**
## **REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS TRUSTEES AND ADVISORS FOR THE YEAR ENDED 31 DECEMBER 2021**
## **Trustees**
Mr N Rayner Mr R M Twydle Mr D Dumbleton Mrs E Williamson Ms P Norman (appointed 25 May 2021)
## **Charity registered number**
220417
## **Principal office**
21-27 Cassio Road, Watford, Hertfordshire, WD18 0QP
## **Bankers**
Lloyds TSB, 67 High Street, Watford, Hertfordshire
## **Investment Advisors**
M&G Securities Limited, PO Box 6108, Basildon, Essex
## **Independent Examiner**
Paul Windmill FCA, Myers Clark Chartered Accountants, Egale 1, 80 St Albans Road, Watford, WD17 1DL
1
## **GOSLING HOUSE**
## **TRUSTEES ’ REPORT FOR THE YEAR ENDED 31 DECEMBER 2021**
The Trustees present the annual report and financial statements of Gosling House (the charity) for the year 1 January 2021 to 31 December 2021. The financial statements comply with current statutory requirements and the requirements of the Charity’s governing document.
## **Objectives and Activities**
## **a. POLICIES AND OBJECTIVES**
The ensure a comfortable, safe and friendly home for the residents.
To maintain the premises to a high standard by working to an agreed programme of repairs, replacements and re-decoration.
To manage the affairs of the home in an efficient, successful manner.
## **Achievements and performance**
## **a. REVIEW OF ACTIVITIES**
In the year, the trustees worked hard to achieve the objectives above.
## **b. RESERVES POLICY**
The Charity has a reserves policy which reflects the need to maintain current operations while providing for future commitments. Funds held at 31 December 2021 amounted to £389,005 (2020: £352,393). All funds are unrestricted.
## **c. GOING CONCERN**
After making appropriate enquiries, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. For this reason, they continue to adopt the going concern basis in preparing the financial statements. Further details regarding the adoption of the going concern basis can be found in the Accounting Policies.
## **Structure, Governance and Management**
## **a. CONSTITUTION**
Gosling House (registered as Mr Gosling’s Home for Aged Women) is constituted by a Trust Deed dated 14[th] November 1933. The charity de-registered as a Housing Association on 25[th] February 1999.
The principal object of the charity is the provision of accommodation for spinsters and widows, who are not less than fifty years of age, the residents providing only a contribution the running of the Home.
## **b. METHOD OF APPOINTMENT OR ELECTION OF TRUSTEES**
The management of the charity is the responsibility of the Trustees who are elected and co-opted under the terms of the Trust deed.
2
**GOSLING HOUSE**
## **TRUS TEES’ REPORT (CONTI NUED) FOR THE YEAR ENDED 31 DECEMBER 2021**
## **c. RISK MANAGEMENT**
The Trustees have assessed the major risks to which the charity is exposed, in particular those related to the operations and finances of the charity, and are satisfied that systems and procedures are in place to mitigate our exposure to the major risks.
## **PUBLIC BENEFIT**
The trustees confirm that they have referred to the guidance contained in the Charity Commission ’ s general guidance on public benefit when reviewing the charity ’ s aims and objectives and in planning future activities.
## **TRUSTEES ’ RESPONSIBLITIES STATEMENT**
The Trustees are responsible for preparing the Trustees ’ report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (Unite Kingdom Generally Accepted Accounting Practice).
The law applicable to charities in England & Wales requires the Trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources of the charity for that period. In preparing these financial statements, the Trustees are required to:
- Select suitable accounting policies and then apply them consistently;
- Observe the methods and principles in the Charities SORP;
- Make judgements and accounting estimates that are reasonable and prudent;
- Prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in operation.
The Trustees are responsible for keeping proper accounting records that are sufficient to show and explain the charity ’ s transactions and disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Charities Act 2011, the Charity (Accounts and Reports) Regulations) 2008 and the provisions of the trust deed. The are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
This report was approved by the Trustees, on 21 February 2023 and signed on their behalf by:
**----- Start of picture text -----**
……………………………………………………… ……………………………………………………
Mr N Rayner Mrs E Williamson
Trustee Trustee
**----- End of picture text -----**
3
## **GOSLING HOUSE**
## **INDEPENDENT EXAMINER ’ S REPORT TO THE TRUSTEES OF GOSLING HOUSE FOR THE YEAR ENDED 31 DECEMBER 2021**
## **INDEPENDENT EXAMINER ’ S REPORT TO THE TRUSTEES OF GOSLING HOUSE (the ‘ charity)**
I report to the trustees on my examination of the accounts of Gosling House (charity no. 220417) for the year ended 31 December 2021 which are set out on pages 5 to 12.
## **Responsibilities and basis of report**
As the charity trustees of the charity you are responsible for the preparation of the accounts in accordance with the requirements of the Char ities Act 2011 (‘the Act’).
I report in respect of my examination of the charity ’s accounts carr ied out under section 145 of the 2011 Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.
## **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 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 Act; or
2. The accounts do not accord with those records.
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.
## **Paul Windmill FCA**
dated: 28 April 2023
Myers Clark Statutory Auditor and Chartered Accountants Egale 1, 80 St Albans Road Watford Hertfordshire WD17 1DL
4
## **GOSLING HOUSE**
## **STATEMENT OF FINANCIAL ACTIVITIES (Incorporating Income and Expenditure Account) FOR THE YEAR ENDED 31 DECEMBER 2021**
|**Note**
**INCOME FROM:**
Charitable activities
**2**
**TOTAL INCOME**
**EXPENDITURE ON:**
Charitable Activities
**3**
**TOTAL EXPENDITURE**
**NET INCOME BEFORE INVESTMENT GAINS/(LOSSES)**
Net gains/(losses) on investments
**5**
**NET INCOME/(EXPENDITURE) BEFORE OTHER**
**RECOGNISED GAINS AND LOSSES**
**NET MOVEMENT IN FUNDS**
**RECONCILIATION OF FUNDS:**
**Total funds brought forward**
**TOTAL FUNDS CARRIED FORWARD**|**Unrestricted**
**funds**
**Total funds**Total funds
**2021**
**2021**
2020
**£**
**£**
£
**35,603**
**35,603**
27,356|
|---|---|
||**35,603**
**35,603**
27,356|
||**(29,292)**
**(29,292)**
(27,229)|
||**(29,292)**
**(29,292)**
(27,229)|
||**6,311**
**6,311**
127
**30,301**
**30,301**
(7,778)|
||**36,612**
**36,612**
(7,651)|
||**36,612**
**36,612**
(7,651)
**352,393**
**352,393**
360,044|
||**389,005**
**389,005**
352,393|
The Statement of Financial Activities includes all gains and losses recognised in the year.
All funds are unrestricted.
The notes on pages 7 to 12 form part of these accounts
5
## **GOSLING HOUSE**
## **BALANCE SHEET AS AT 31 DECEMBER 2021**
|**Notes**
**FIXED ASSETS**
Tangible assets
**4**
Investments
**5**
**Current assets**
Cash at bank and in hand
**CREDITORS:**amounts falling due
within one year
**6**
**NET CURRENT ASSETS**
**TOTAL ASSETS LESS CURRENT**
**LIABILITIES**
**CREDITORS:**amounts falling due
after more than one year
**7**
**NET ASSETS**
**CHARITY FUNDS**
**8**
Unrestricted funds|**£**
**57,991**
**(8,000)**|**2021**
**£**
**260,448**
**261,495**|£
48,380
(4,700)|2020
£
260,448
231,194|
|---|---|---|---|---|
|||**521,943**
**49,991**||491,642
43,680|
||||||
|||**571,934**
**(182,929)**||535,322
(182,929)|
|||**389,005**||352,393|
|||**389,005**||352,393|
|||**389,005**||352,393|
The financial statements were approved by the Trustees on 21 February 2023 and signed on their behalf by:
…………………………………………… .. ……………………………………………… Mr N Rayner Mrs E Williamson **Trustee Trustee**
The notes on pages 7 to 12 form part of these financial statements
6
**GOSLING HOUSE**
## **NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2021**
## **1. Accounting policies**
## **1.1 Basis of preparation of financial statements**
The financial statements have been prepared under the historical cost convention with items recognised at cost or transaction value unless otherwise stated in the relevant notes to these accounts. The financial statements have been prepared in accordance with the Statement of Recommended Practice: Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) effective 1 January 2019, and Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102) and Charities Act 2011.
Gosling House constitutes a public benefit entity as defined by FRS 102.
The trustees co nsider that there are no material uncertainties about the charity’s ability to continue as a going concern.
## **1.2 Incoming resources**
All income is recognised once the charity has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably.
For legacies, entitlement is taken as the earlier of the date on which either: the charity is aware that probate has been granted, the estate has been finalised and notification has been made by the executor(s) to the Trust that a distribution will be made, or when a distribution is received from the estate. Receipt of a legacy, in whole or in part, is only considered probable when the amount can be measured reliably and the charity has been notified of the executor ’ s intention to make a distribution. Where legacies have notified to the charity, or the charity is aware of the granting of probate, and the criteria for income recognition have not been met, then the legacy is treated as a contingent asset and disclosed if material.
## **1.3 Resources expended**
Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned on the basis of time spent, and depreciation charges allocated on the portion of the asset ’ s use.
Charitable activities and Governance costs are costs incurred on the charity ’ s educational operations, including support costs and costs relating to the governance of the charity apportioned to charitable activities.
7
**GOSLING HOUSE**
## **NOTES TO THE ACCOUNTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2021**
## **1. Accounting policies (continued)**
## **1.4 Tangible fixed assets and depreciation**
A review for impairment of a fixed asset is carried out if events or changes in circumstances indicate that the carrying value of any fixed asset may not be recoverable. Shortfalls between the carrying value of fixed assets and their recoverable amounts are recognised as impairments, Impairment losses are recognised in the Statement of financial activities.
Tangible fixed assets are stated at cost, net of depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Fixtures, fittings & equipment
25% reducing balance
The Trustees do not consider the Freehold Property needs to be depreciated as its current value is significantly greater than the original cost and the current policy of continuous maintenance.
## **1.5 Interest receivable**
Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the charity; this is normally upon notification of the interest paid or payable by the Bank.
## **1.6 Cash at Bank and in hand**
Cash at bank and in hand includes cash and short term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.
## **1.7 Liabilities and provisions**
Liabilities are recognised when there is an obligation at the Balance sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably. Liabilities are recognised at the amount that the charity anticipates it will pay to settle the debt or the amount it has received as advanced payments for the goods or services it must provide. Provisions are measured at the best estimate of the amounts required to settle the obligation.
## **1.8 Financial instruments**
The charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method.
## **1.9 Fund accounting**
General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the charity and which have not been designed for other purposes.
8
**GOSLING HOUSE**
## **NOTES TO THE ACCOUNTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2021**
|**2.**|**INCOME FROM CHARITABLE ACTIVITIES**||||
|---|---|---|---|---|
|||**Unrestricted**|**Total**|Total|
|||**funds**|**funds**|funds|
|||**2021**|**2021**|2020|
|||**£**|**£**|£|
||Contributions from Residents|30,180|30,180|23,240|
||Rent from House Manager|5,280|5,280|3,960|
||Dividends Received|143|143|156|
|||**35,603**|**35,603**|**27,356**|
||Total 2020|27,356|27,356||
|**3.**|**CHARITABLE ACTIVITIES**||||
|||**Charitable**|**Total**|Total|
|||**Activities**|**2021**|2020|
|||**£**|**£**|£|
||Gas|7,658|7,658|6,674|
||Electricity|(494)|(494)|522|
||Council Tax|-|-|46|
||Water Rates|1,104|1,104|948|
||Repairs–Premises|10,425|10,425|11,123|
||Repairs–Alarm|708|708|-|
||Telephone|579|579|552|
||Cleaning|1,229|1,229|996|
||Insurance|1,289|1,289|1,249|
||Gardening|2,957|2,957|2,398|
||Sundry Expenses|537|537|201|
||Governance|3,300|3,300|2,520|
|||**29,292**|**29,292**|27,229|
||Total 2020|27,229|27,229||
Included within Governance costs is Independent Examiner ’s Remuneration of £3,300 (2020: £2,520).
During the year, no Trustees received any remuneration (2020 - £NIL) During the year, no Trustees received any benefits in kind (2020 - £NIL) During the year, no Trustees received any reimbursement of expenses (2020 - £NIL)
9
**GOSLING HOUSE**
## **NOTES TO THE ACCOUNTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2021**
|**4.**|**TANGIBLE FIXED ASSETS**||||
|---|---|---|---|---|
|||**Freehold**|**Fixtures &**|**Total**|
|||**property**|**fittings**||
|||**£**|**£**|**£**|
||**Cost**||||
||At 1 January 2021 and 31 December 2021|260,448|1,395|261,843|
||**Depreciation**||||
||At 1 January 2021 and 31 December 2021|-|1,395|1,395|
||**Net book value**||||
||**At 31 December 2021**|**260,448**|**-**|**260,448**|
||At 31 December 2020|260,448|-|260,448|
|**5.**|**INVESTMENTS**||||
|||||**NAACIF**|
|||||**Investments**|
|||||**£**|
||Market value||||
||At 1 January 2021|||231,194|
||Revaluations|||30,301|
||**At 31 December 2021**|||**261,495**|
||At 31 December 2020|||231,194|
|**6.**|**CREDITORS: Amounts falling due within one year**||||
||||**2021**|2020|
||||**£**|£|
||Accruals and deferred income||**8,000**|4,700|
|**7.**|**CREDITORS: Amounts falling due after more than one year**||||
||||**2021**|2020|
||||**£**|£|
||Grants accrued - institutional||**182,929**|182,929|
10
**GOSLING HOUSE**
## **NOTES TO THE ACCOUNTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2021**
## **8. STATEMENT OF FUNDS**
**STATEMENT OF FUNDS – CURRENT YEAR**
||**Balance at 1**|**Income**|**Expenditure**|**Gains/(Losses)**|**Balance at 31**|
|---|---|---|---|---|---|
||**January**||||**December**|
||**2021**||||**2021**|
|**Unrestricted funds**||||||
|General Funds|**352,393**|**35,603**|**(29,292)**|**30,301**|**389,005**|
|**Total of funds**|**352,393**|**35,603**|**(29,292)**|**30,301**|**389,005**|
|**STATEMENT OF**|**FUNDS– PRIOR YEAR**|||||
||Balance at 1|Income|Expenditure|Gains/(Losses)|Balance at 31|
||January 2020||||December|
||||||2020|
|**Unrestricted funds**||||||
|General Funds|360,044|27,356|(27,229)|(7,778)|352,393|
|Total of funds|360,044|27,356|(27,229)|(7,778)|352,393|
## **9. ANALYSIS OF NET ASSETS BETWEEN FUNDS**
**ANALYSIS OF NET ASSETS BETWEEN FUNDS – CURRENT YEAR**
||**Unrestricted**|
|---|---|
||**funds**|
||**2021**|
||**£**|
|Tangible fixed assets|**260,448**|
|Programme related investments|**261,495**|
|Current assets|**57,991**|
|Creditors due within one year|**(8,000)**|
|Creditors due in more than one year|**(182,929)**|
||**389,005**|
11
**GOSLING HOUSE**
## **NOTES TO THE ACCOUNTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2021**
## **10. ANALYSIS OF NET ASSETS BETWEEN FUNDS (continued)**
|**ANALYSIS OF NET ASSETS BETWEEN FUNDS– PRIOR YEAR**||
|---|---|
||Unrestricted|
||funds|
||2020|
||£|
|Tangible fixed assets|260,448|
|Programme related investments|231,194|
|Current assets|48,380|
|Creditors due within one year|(4,700)|
|Creditors due in more than one year|(182,929)|
||352,393|
## **11. RELATED PARTY TRANSACTIONS**
During the period, the charity was charged £7,668 (2020: £1,760) for maintenance services by Brian Dumbleton & Sons, a business connected to D Dumbleton, a trustee of the charity.
12