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2022-12-31-accounts

Charity Registration No. 220417

GOSLING HOUSE

UNAUDITED

TRUSTEES’ REPORT AND FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2022

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 2022

Trustees

Mr N Rayner Mr R M Twydle Mr D Dumbleton Mrs E Williamson Ms P Norman

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 2022

The Trustees present the annual report and financial statements of Gosling House (the charity) for the year 1 January 2022 to 31 December 2022. 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 2022 amounted to £387,355 (2021: £389,005). 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.

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GOSLING HOUSE

TRUSTEES’ REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2022

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:

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 23 May 2023 and signed on their behalf by:

----- Start of picture text -----
……………………………………………………… ……………………………………………………
Mr N Rayner Mrs E Williamson
Trustee Trustee
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GOSLING HOUSE

INDEPENDENT EXAMINER’S REPORT TO THE TRUSTEES OF GOSLING HOUSE FOR THE YEAR ENDED 31 DECEMBER 2022

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 2022 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 Charities Act 2011 (‘the Act’).

I report in respect of my examination of the charity’s accounts carried 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: 31 May 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 2022

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 fundsTotal funds
2022
2022
2021
£
£
£
27,981
27,981
35,603
27,981
27,981
35,603
(31,539)
(31,539)
(29,292)
(31,539)
(31,539)
(29,292)
(3,558)
(3,558)
6,311
1,908
1,908
30,301
(1,650)
(1,650)
36,612
(1,650)
(1,650)
36,612
389,005
389,005
352,393
387,355
387,355
389,005

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 2022

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		 £
55,078
(8,645)		 2022
£
260,448
263,403		 £
57,991
(8,000)		 2021
£
260,448
261,495
523,851
46,433		 521,943
49,991
570,284
(182,929)		 571,934
(182,929)
387,355 389,005
387,355 389,005
387,355 389,005

The financial statements were approved by the Trustees on 23 May 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 2022

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 consider 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 2022

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 2022

2. INCOME FROM CHARITABLE ACTIVITIES
Unrestricted Total Total
funds funds funds
2022 2022 2021
£ £ £
Contributions from Residents 25,285 25,285 30,180
Rent from House Manager 2,540 2,540 5,280
Dividends Received 156 156 143
27,981 27,981 35,603
Total 2021 35,603 35,603
3. CHARITABLE ACTIVITIES
Charitable Total Total
Activities 2022 2021
£ £ £
Gas 6,050 6,050 7,658
Electricity 604 604 (494)
Water Rates 1,161 1,161 1,104
Repairs – Premises 14,230 14,230 10,425
Repairs – Alarm - - 708
Telephone 669 669 579
Cleaning 730 730 1,229
Insurance 1,406 1,406 1,289
Gardening 3,016 3,016 2,957
Sundry Expenses 853 853 537
Governance 2.820 3,300 3,300
31,539 31,539 29,292
Total 2021 29,292 29,292

Included within Governance costs is Independent Examiner’s Remuneration of £2,820 (2021: £3,300).

During the year, no Trustees received any remuneration (2021 - £NIL) During the year, no Trustees received any benefits in kind (2021 - £NIL) During the year, one Trustees received reimbursement of expenses of £2,624.94 (2021 - £NIL)

9

GOSLING HOUSE

NOTES TO THE ACCOUNTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2022

4. TANGIBLE FIXED ASSETS
Freehold Fixtures & Total
property fittings
£ £ £
Cost
At 1 January 2022 and 31 December 2022 260,448 1,395 261,843
Depreciation
At 1 January 2022 and 31 December 2022 - 1,395 1,395
Net book value
At 31 December 2022 260,448 - 260,448
At 31 December 2021 260,448 - 260,448
5. INVESTMENTS
NAACIF
Investments
£
Market value
At 1 January 2022 261,495
Revaluations 1,908
At 31 December 2022 263,403
At 31 December 2021 261,495
6. CREDITORS: Amounts falling due within one year
2022 2021
£ £
Accruals and deferred income 8,645 8,000
7. CREDITORS: Amounts falling due after more than one year
2022 2021
£ £
Grants accrued - institutional 182,929 182,929

10

GOSLING HOUSE

NOTES TO THE ACCOUNTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2022

8. STATEMENT OF FUNDS

STATEMENT OF FUNDS – CURRENT YEAR

Balance at 1 Income Expenditure Gains/(Losses) Balance at 31
January December
2022 2022
Unrestricted funds
General Funds 389,005 27,981 (31,539) 1,908 387,355
Total of funds 389,005 27,981 (31,539) 1,908 387,355
STATEMENT OF FUNDS – PRIOR YEAR
Balance at 1 Income Expenditure Gains/(Losses) Balance at 31
January 2021 December
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

9. ANALYSIS OF NET ASSETS BETWEEN FUNDS

ANALYSIS OF NET ASSETS BETWEEN FUNDS – CURRENT YEAR

Unrestricted
funds
2022
£
Tangible fixed assets 260,448
Programme related investments 263,403
Current assets 55,078
Creditors due within one year (8,645)
Creditors due in more than one year (182,929)
387,355

11

GOSLING HOUSE

NOTES TO THE ACCOUNTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2022

10. ANALYSIS OF NET ASSETS BETWEEN FUNDS (continued)

ANALYSIS OF NET ASSETS BETWEEN FUNDS – PRIOR 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. RELATED PARTY TRANSACTIONS

During the period, the charity was charged £1,002 (2021: £7,668) for maintenance services by Brian Dumbleton & Sons, a business connected to D Dumbleton, a trustee of the charity.

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