Charity Registration No. 220417 GOSUNG HOUSE UNAUDrrED TRusfEES' REPORT AND FINANaAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023
GOSUNG HOUSE CONTENTS Page Reference and administrative detsi15 of the charity, its trusiees and advisors Trustees, report Independent examinerfs report Statement of financial activities Balance Sheet Notes to the financial ststements 7-12
GOSUNG HOUSE REFERENCE AND ADMINISTRAThIE DETAILS OF THE CHARttY. Tfs TRUSTEES AND ADVISORS RYR THE YE4R ENDED 37 DECEMBER 2023 Trustees Mr N Rayner Mr R M Tvrydle Mr D Dumbleton Mrs E Williamson Ms P Norrnan Charity regislered number 220417 Principal office 21-27 Cassio Road, Watford, Hertfordshire. WD18 (K2P Bankers Lloyds TSB, 67 High StreeL Watford, HertFordshire Investment Advi50rs M&G Securities Limited, PO Box 6108. Basildon. Essex Independent Examiner Paul Windmill FCA Myer5 Clark Chartered Accountsnts, Egale 1, 80 St Albans Road, Watford, WD17 1 DL
GOSUNG HOUSE TRUSTEES, REPORT FOR THE YEAR ENDED 31 DECEMBER2023 The Trustees present the annual report and financial statements of Gosling House (the charity) for the year I January 2023 to 31 December 2023. The financial statements compty with current statutory requirements and the requirements of the Charitys goveming document. Objectives and Artivities pouaES AND OWEcllvES The ensure a comfortable, safe and fn'endly home for the residents. To maintain the pfemises to a high stsndard by working to an agreed pro9ramme of repairs, replacements and re-decoration. To manage the affairs of the home in an efficient successful manner. Achievements and perforniance a. REVIEW OF ACTIVTfiES In the year. the trustees worked hard to achieve the objectives above. b. RESERVES POUCY The Charity has a reserves policywhich reflertsthe need to maintain current operationswhile providing for future commitments. Fund5 held at 31 December 2023 amounted to £397,138 12022.. £387.3551. All funds are unrestricted. GOING CONCERN After making appropriate enquiries, the trustee5 have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable fijture. Forthis reason, they continue to adopt the going concern basis in preparing the financial statement& Further detsils regarding the adoption of the going concern basis can be found in the Accounting Policies. Structure. Governance and Management CONSTrruTION Gosling House (registered a5 Mr Gosling's Home for Aged Women) is constituted by a Trust Deed dated 14th November 1933. The charity de-registered as a Housing Association on 25th February 1999. The principal object of the charty 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 APPOINTMETrif OR ELECTION OF TRUSTEES The management of the charity is the respon5ibilty of the Tnjstees who are elerted and co-opted under the terms of the Trust deed.
GOSUNG HOUSE TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED31 DECEMBER2023 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 satish.ed that systems and procedures are in place to mitigate our exposure to the major risks. PUBUC BENEFIT The trustees confimi that they have referred to the guidance contained in the Charity Commission's general guidance on public benefit when reviewing the charty's aims and objectives and in planning future adivities. TRUSTEES. RESPONSIBimES STATEMENT The Trustees are responsible for preparing the TnJstees' report and the financial statements in accordance with applicable law and United Kingdom Accounting Stsndards (Unite Kingdom Generally Accepted Accounting Practice). The law applicable to charities in England &Wales requires the Trustees to prepare financial statements for each financial yearwhich 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 5taternents, the Trustees are required to.. Selert Sultable accounting policies and then appty them consistent, Observe the methods and principles in the Charities SORP, Make judgements and accounting estimates that are reasonable and pnJdenL" Prepare the financial statements on the going concem basis unle55 it is inappropriate to presume that the charity will continue in operation. The Trustees are sponSible 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 lo ensure that the financial statements comply with the Charities Act 2011. the Charity (Accounts and Reports) Regulations) 2(108 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 3rd December 2024 and signed on their behalf by. Mr N Rayner Trustee Mrs E William Trustee
GOSLING HOUSE ENDEPENDENT EXAMINER'S REPORT TO THE TRUStEES OF GOSUNG HOUSE FOR THE YEAR ENDED 31 DECEMBER 2023 INDEPENDENT EXAMINER'S REPORT TO THE TRUStEES OF GOSUNG HOUSE lthe'charity) I report to the trustees on my examination of the accounts of Gosling House (charity no. 22041 n for the year ended 31 December 2023 which are set out on pages 5 to 12. Responsibilitie5 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 Actr). I report in respect of my examination of the charitys 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 14515llbl of the Art. Independent examlner's statement I have completed my examination. I confimi that no rnaterial matters have come to my attention in connection with the examination giving me cause to believe that in any material respect 1. Accounting record5 were not kept in respect of the charity as required by sertion 130 of the Att or 2. The accounts do not accord with those records. I have no concems 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 understsnding of the accounts to be reached. Paul Windrnill FCA dated.. 17 2024 Myers Clark Statutory Auditor and Chartered Accountants Egale 1, 80 St Albans Road Watford Hertfordshire WD17 1DL
GOSUNG HOUSE STATEMENT OF FINANaAL ACrnlmES Uncorporating Income and Expenditure Account) FOR THE YEAR ENDED 31 DECEMBER 2023 Unrestricted Restricted funds fvnds 2023 2023 Totsl funds Total funds 2022 2023 Note INCOME FROM: Charitable activities 27.810 2.875 30.685 TOTAL INCOME 27.810 2.875 30.685 27,987 ExPENDuRE ON: Charitable Activities {34.202) (2.875) 137.077) 131,539} TOTAL EXPENDrruRE (34.202) (2.875) {37.077) 131,5391 INCOME BEFORE INVEsfMENT GAINS/ILOSSES) Net gains/llosses) on investments (6.392) (6.392) [3558} 16.175 16.175 NET INCOMEI(EXPENDrruRE) BEFORE OTHER RECOGNISED GAINS AND LOSSES 9.783 9.783 (1,650) NEf MOVEMENT IN FUNDS 9.783 9.783 (1,650) RECONCtUATION OF FUNDS: Total funds brought for4vard 387.355 387.355 389,005 TOTAL FUNDS CARRIED FORWARD 397.138 397.138 387,355 The Ststement 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
GOSUNG HOUSE BALANCE SHEEr AS AT 31 DECEMBER2023 2023 2022 Note5 FIXED ASss Tangible assets Investments 260.448 279.578 260,448 263,403 540.026 523,851 Current assets Cash at bank and in hand 48.552 55,078 CREDrroRS: amounts falling due within one year (8.511} 18,6451 CURRENT ASSErs 40.041 46,433 TOTAL ASSEfs LESS CURRENT UABILMES 580.067 570,284 CREDrroRS: amounts falling due after more than one year (182.929) {1819291 NEf ASSETS 397.138 387,355 CHARrrY FUNDS Unrestricted funds 397.138 387.355 397.138 387,355 The financial statements were approved by the Trustees on 3rd December 2024 and signed on their behalf by.. Mr N Rayner Trustee Mrs E Willia Trustee The notes on pages 7 to 12 fom part of these financial statements
GOSUNG HOUSE NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2023 Aciounting policies 1.1 Basis of preparation of financlal statements The financial statements have been prepared underthe historical cost convention with item5 recognised at cost or transartion 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 IFRS 1021 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 entty as defined by FRS 102. The trustees consider that there are no material uncertainties about the charitys ability to continue as a going concern. 12 Incomlng Tesources All income 15 recognised once the charity has entitlement to the income. it is probable that the income wll be received and the amount of income receivable can be measured reliably. For legacies, entitlement istaken as the earlier of the date on which either. the charity is aware that probate has been granted, the estste has been finalised and notification has been made by the executor{sl to the Trust that a distribution will be made. orwhen 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 rnaterial. 13 Resources expended Expenditure is recognisa once there is a legal or constructive obligation to transfer economic benefitto a third paty. it is probable that a transfer of economic benefitswill be required in settlement and the amount of the obligation can be measured reliabty- 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 invo]ved in undertaking each artivity. Direct costs attributable to a single actiwty are allocated directfy to that activity- Shared costs which contributeto more than one activwty 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. Charttable activities and Governance costs are costs incurred on the charity's ducational operations, including support costs and costs relating to the govemance of the charity apportioned to charitable activities.
GOSUNG HOUSE NOTES TO THE ACCOUNTS (CONTINUEDI FOR THE YEAR ENDED 31 DECEMBER 2023 Accounting policie5 {continued) IA Tangible fixed assets and depreciation A review for impaim)ent 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 beeen the carrying value of fixed assets and their recoverable amounts are recognised as impairnients, Impairment losses are recognised in the Statement of financial activities. Tangiblefixed assets are stated at cost, net of depreciation and ary provision for impaiment. Depreciation is provided at rates calculated to write off the cost offixed assets, less their estimated residual value, over their expected useful lives on the following basis= Fixtures, fittings & equipment 25% reducirvJ balance The Trustees do not consider the Freehold Propety 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 receNable and the amount can be measured reliably by the charity.- this is nomally upon notification of the interest paid or payable by the Ban 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 pastever)L it is probable that a transfer of economic benefit will be required in 5ettlemenL and the amount of the settlement can be estimated reliab. abilItieS are recognised atthe 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 seTvices it must provide. Provisions are measured at the best estimate of the amounts required to settle the obligation. 1.8 Financial instruments The charity onW has financial assets and financial liabilities of a kind that qualify as basic fsnancial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlementvaluewith the exception of bank loans which are subsequentty measured at amortised cost using the effective interest method. 1.9 Fund aciounting 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.
GOSUNG HOUSE NOTES TO THE ACCOUNT5 (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 2. INCOME FROM CHARABLE AcnvrriES Unrestricted Restricted funds funds 2023 2023 Total funds 2023 Total fund5 2022 Contributions from Residents Rent from House Manager Dividends Received Grants received 24.490 3,150 170 24,490 3.150 170 2,875 30.685 2540 156 2,875 2.875 27.810 rota12022 27,981 27,981 3. CHARrrABLE ACllVtnES Charitsble Restricted Acttvitles fund5 Totsl 2023 Total 2022 Gas Electricity Water Rates Repairs- Premises Repairs-Alami Telephone Cleaning Insurance Gardening Sundry Expenses Governance 10.374 1,134 1,154 10,605 513 787 491 1.635 3.813 756 2.940 10,374 1,134 1,154 13,614 513 787 491 1,635 3,813 756 2,940 1, 167 14,230 2.875 669 730 1.406 3.016 853 2820 34.202 2.875 37.OTI 31,539 Total2022 31.539 31,539 Included within Governance costs is Independent Examinerfs Remuneration of £1940 (2022.. £2,820). During the year. no Ttustees received any remuneration12022 - £NIL) During the year, no Trustees received any benefits in kind (2022 - £NIL) During the year, one Trustees received reimbursement of expenses of £1981 12022 - £2,624.94)
GOSLING HOUSE NOTES TO THE ACCOUNTS (CONTENUED) FOR THE YEAR ENDED 31 DECEMBER 2023 4. TANGIBLE FIXED ASSErs Freehold property Fixtures & fittings Total Cost At l January 2023 and 31 December 2023 260,448 1,395 261,843 Depreciation At l January 2023 and 31 December 2023 1,395 1,395 Net book value At 31 December 2023 260.448 260,448 At31 December2022 260.448 260,448 5. INVESTMENTS NAAaF Investments Market value At 1 January 2023 Revaluation5 263.403 16,175 At 31 December 2023 279.578 At31 December2022 263,403 CREDITORS: Amounts falling due within one year 2023 2022 Accruals and deferred income 8.511 CREDrroRS: Amounts falling due after more than one year 2023 2022 Grants accrued - institutional 182.929 182929 10
GOSUNG HOUSE NOTES TO THE ACCOUNTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 8. sfATEMENT OF FUNDS STATEMENT OF FUNDS- CURRENT YEAR Balance at I January 2023 Income Expenditure Gainsl(Losses) Balance at 31 December 2023 Unrestricted funds General Funds 387.355 27.810 134.202) 16.175 397.138 Restricted funds Restricted grants 2.875 (2.875) Totsl of funds 387.355 30.685 (37.077) 16.175 397.138 STATEMENT OF FUNDS- PRIOR YEAR Balance at I January2022 Income Expenditure Gains/(LossesJ Balance at31 December 2022 Unrestricted tunds General Funds 389,m5 27.981 (31,539) 387355 Total olfiinds 389,m5 27.981 (31,539) 387,355 9. ANALYSIS OF NEf ASSEfs BETWEEN FUNDS ANALYSIS OF NEf ASSETS BETWEEN FUNDS- CURRENT YEAR Unrestricted funds 2023 Tangible fixed assets Programme related investments Current assets Creditors due within one year Creditors due in more than one year 260.448 279.578 48.552 18.511) 1182.929) 397.138
GOSUNG HOUSE NOTES TO THE ACCOUNTS ICONTINUED} FOR THE YEAR ENDED 31 DECEMBER 2023 10. ANALYSIS OF NEf ASSEfs BETWEEN FUNDS (continued) ANALYSIS OF NEf ASSEfs BEfwEEN FUNDS- PRIOR YEAR Unrestricted funds 2022 Tangible fixed assets Programme related inve5trnents Current assets Creditors due within one year Creditors due in more than one year 260,448 263,403 55.078 (8,645) (181929J 387355 11. RELATED PARTY TRANSACTIONS During the period, the chatity wa5 charged £l,17612022.. £1.0021 for maintenance services by Brian Dumbleton & Sons. a business connected to D Dumbleton. a trustee of the charity. 12