Dowsett Almshouses Trust
Report and Accounts Year Ended 31st March 2021
Dowsett Almshouses Trust Contents Year Ended 31st March 2021
| Page | |
|---|---|
| Information sheet | 3 |
| Trustees report | 4-6 |
| Independent examiner's report ofthe accounts | 7 |
| Statement of financial activities | 8 |
| Balance sheet | 9 |
| Notestotheaccounts | 10-14 |
Dowsett Almshouses Trust Information Sheet Year Ended 31st March 2021
Trustees
Clir John Lamb Mr P Andrews - Secretary/Treasurer Rev S Ejaz Rev D Gates
Accountants Devonports Accountants Limited Cumberland House 24-28 Baxter Avenue Southend on Sea Essex SS2 6HZ
Principal Address
C/o 160 Tankerville Drive Leigh on Sea Essex SS93DD
:
Registered charity number 220610
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Dowsett Almshouses Trust Trustees report Charity Number: 220610 Year Ended 31st March 2021
Statutory Information
Registered Address C/o 160 Tankerville Drive Leigh on Sea Essex S$S93DD
Charity Registration Number 220610
Trustees Cllr John Lamb Mr P Andrews - Secretary/Treasurer Mr 1S Taylor Rev S Ejaz Rev D Gates
Bankers Barclays Bank 127 High Street Southend on Sea Essex S$S11JS
Annual Report for year ended 31 March 2021
The Trustees present their Annual Report and Financial Statements for year ending 31 March 2021.
Charitable Object
The Charity is governed by an Approved Governing Document which states that the principal purpose of the charity is to provide affordable housing for the elderly and infirm in the Borough of Southend, and to apply the income of the charity for the benefit of the residents in the Almshouses of the charity or any of them in such manner as the Trustees think fit, from time to time.
The Trust owns 8 Almshouse properties, which it maintains, in Chelmsford Avenue, Southend on Sea, and 2 endowment property houses, the income from which support the work of the alms-houses.
Organisational Structure
The Trustees are appointed from the Free Church communities, within the Borough, or seconded by the Trustees accordingly, together with the Mayor of Southend on Sea who serves as Chairman for his/her year of office. Due to the Covid-19 pandemic, Cllr John Lamb served a period of two years.
Trustees meet several times a year, together with an annual AGM, at which officers are appointed, and they are responsible together for the day to day running of the charity, and the financial and legal aspects.
Page 4
Objectives and Activities
The Charity produces an Annual Report each year which details the activities undertaken in the current year to show the public benefit and the achievement of their aims and objectives.
In order to achieve the principal objective which is set out above, the Trust endeavours to maintain the properties in a fit state of repair, and make necessary improvements as and when they are required. It also provides appropriate insurance cover for Residents properties and contents, up to a measured amount, and water and sewerage connections.
A small maintenance charge is levied upon the Alms-house residents and reviewed annually.
Achievements and Performance
Despite the pressures of the Covid-19 pandemic and national lockdowns, this year the bungalows and large garden continued to be maintained in good order and were fully occupied for much of the reporting period. One property was left vacant after the death of one of the tenants and at the end of this reporting year, was being prepared for a new tenant that had been approved. This vacant properties required some redecoration, payment of outstanding bills and clearance costs, which were exceptional payments during this year. Five of the eight residents are in receipt of Housing Benefit , all of which are now paid directly to the Trusts account.
Trustees also approved an Anti-Social Behaviour Policy, in line with the recommended policy from the National Association of Almshouses (NAA), following a dispute that arose with a neighbouring property regarding boundary issues. Trustees have made clear to any trades people working on or around the Almshouses that they must consult Trustees before undertaking any work affecting bordering properties. Maintenance and Security - All of the bungalows were kept in a good state of repair, and the Borough Council continued to offer a call-out service for the residents, which was much appreciated. The annual fee for this service is £2100 (incl VAT) agreed by the Trustees and Council. In accordance with the work that was approved at the previous years AGM, considerable redecoration was undertaken to the endowment properties, external repairs, damp and painting, which was included in budget for the year, drawing on reserves. There was also major refurbishment to the external porches for all the bungalows, involving detailed carpentry to ensure matching work was completed. This year there have also been some additional expense over and above normal maintenance and services costs including replacement of poor fencing and paving, drain issues and internal damp. As per normal, costs for these works were passed on after the year end and shown on the accounts.
Endowment Properties - Rental income is regularly received from both properties without any problem and indeed, one tenant has made a sizeable repayment of outstanding arrears. This figure will be reported in the next accounting year.
Trusteeship - The Trustees remain quorate according to the Constitution of the Trust. In view of the Covid-19 situation, the Trust were fortunate to have the continued Trusteeship of Cllr John Lamb, since his position as Mayor was extended. The Trustees are still to review the Governing Documents in the light of congregational changes in Southend to bring the ex-officio positions up to date.
Secretary/Acting Treasurer - Trustees agreed to ask Mr Phil Andrews to act as Treasurer/ Secretary for the year.
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Financial Review
The Trust continues to raise funds from the endowment property rental with further income from the Almshouses maintenance charges.
The most significant expenses related to on-going maintenance and repairs provided by Southend on Sea Borough Council, along with other property maintenance and repairs. Gardening has generally maintained its cost with the gardener providing some additional hours and other costs and services have mostly risen according to inflation. For the reporting year, despite the large maintenance projects undertaken, other expenses were generally in line with expectations, and the Trusts budget, which was pleasing. The Trust continues to have sufficient funds to allow 12 months of continued expense in the event of no income. Trustees are satisfied that sufficient reserves are still in hand. Whilst some major work is to be undertaken to boilers and central heating in the Endowment properties, reserves should continue to rise over the coming year.
It is proposed that once the outstanding maintenance bills are paid that an additional amount will be moved across to savings.
The financial results of the year are set out in the accompanying financial statements.
Covid — Financial Risk Assessment - Fortunately, the income of the Trust is not affected by the ongoing Covid-19 situation as it is not actively engaged in fund-raising activities. The Trustees are satisfied that they have sufficient reserves at the Balance Sheet date, together with anticipated income, to enable the Trust to function effectively in the coming year. The Trustees have made an assessment of the major risks facing the Trust, and are satisfied that policies are in place to minimise these risks. Health and safety assessments and property insurances are up to date. A valuation of the properties was last undertaken in 2018 and will be reviewed in 2022.
The Trust is grateful to Devonports Accountants for their help in examining this year’s financial statement.
P Andrews (on behalf of the board)
Secretary
DATS: cevmmmcormenasesauewees
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Dowsett Almshouses Trust Independent Examiner's Report to the trustees of Dowsett Almshouses Trust Charity Number: 220610
Year Ended 31st March 2021
Respective responsibilities of trustees and examiner
The charity's trustees are responsible for the preparation of the accounts. The charity's trustees consider that an audit is not required for this year under section 144 of the Charities Act 2011 (The Charities Act) and that an independent examination is needed. It is my responsibility to:
e examine the accounts under section 145 of the Charities Act,
® to follow the procedures laid down in the general directions given by the Charity Commission under section 145 (5) (b) of the Charities Act, and e to state whether particular matters have come to my attention
Basis of independent examiner's statement
My examination was carried out in accordance with general directions given by the Charity Commission. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from the trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently no opinion is given as to whether the accounts present a ‘true and fair' view and the report is limited to those matters set out in the statement below.
Independent examiner's statement
In connection with my examination, no matter has come to my attention 1. which gives me reasonable cause to believe that in, any material respect, the
-
® to keep accounting records in accordance with section 130 of the Charities Act; and
-
- to prepare accounts which accord with the accounting records and comply with the accounts requirements of the Charities Act have not been met; or
to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.
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Mr | Hornsey FAIA FFA \ | -
Devonports Accountants Limited — \
Incorporated Financial Accountants \ 4 \
24-28Cumberland House, \ \ i a
Southend-on-sea Baxter Avenue stnDea ooo’ iemlmafiost/
Essex
$S2 6HZ
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Dowsett Almshouses Trust Statement of Financial Activities Charity Number: 220610 Year Ended 31st March 2021
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|||||||||||
|---|---|---|---|---|---|---|---|---|---|
|Restricted|
|@|Unrestricted|income|Endowment|Total|this|
|2|funds|funds|funds|year|Total|last year|
|Incoming|resources|(Note|3)|£|£|£|£|£|
|Income|and|endowments|from:|
|Charitable activities|3{|=|[23,167]|17,400]|40,567]|36,052 ||
|Other trading|activities|ee|es|ee|
|Investments|3{8|
|Separate|material|item of income|es|es|
|Other|ee|ee|
|Total|PC|28,244]|17,400]|40,644]|36,137 ||
|Resources|expended|(Note|6)|
|Expenditure|on:|
|Ralsing|funds|ee|es|
|Charitable activites|4{[|=|[25,386]|20,988|46,375]|31,967 ||
|Separate material item|of expense|es|es|
|Total|PC|CC|386]|20,988]|46,375]|31,967|||
|Net income/(expenditure)|before|ae|
|Net gains/(losses) on investments|es|es|ee|
|Extraordinary items|ee|ee|ee|ee|ee|
|Other|recognised|gains/(losses):|
|charity'sGains andown lossesuse on revaluation|offixed assets for the a|ee|
|Net movement in funds|Pp|Ce|43 |-|3,588 ]-|5,731]|4,170|
|Reconciliation|offunds:|ee|ee|ee|ee|ee|
|Total funds brought|forward|||CCC|1.091,409|||550,000]|1,641,409 ||1,641,409|||
|Total funds carried forward||;|1089,266|||546,412|||1,635,678|||1,645,579|||
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Dowsett Almshouses Trust Balance Sheet Charity Number: 220610 Year Ended 31st March 2021
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||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|
|Restricted|
|®|Unrestricted|income|Endowment|Total|this|Total|last|
|3|funds|funds|funds|year|year|
|£|£|£|£|£|
|Fixed|assets|FO1|FO2|FO3|FO4|FOS|
|Intangible assets|s—|-|[|-]|-||-||]|-|
|Tangible|assets||=||1,040,000|550,000|||1,590,000|||1,590,000|
|InvestmentsHeritage|assets|eeee|eee|eee|
|Total|a|ee|ee|ee|eee|
|fixed assets||=||1,040,000|550,000|||1,590,000|||1,590,000|
|Current|assets|
|Stocks|ee|ee|ee|
|Debtors|6;|
|a|
|Investments|-|||11,850]|-|||11,850|11,850|
|Cash|at bank and|in|hand|Pe|67,048];|=|= -|||67,048|51,578|
|Total current assets|Baa|78,898] —-|||78,898|63,428|
|Creditors:|amounts|falling|due|
|within|one|year|7|29,189|29,189|7,849|
|Net current assets/(liabilities)||==-|||49,710{|=|-|{||49,710|55,579|
|Total assets less|current liabilities||——-|||1,089,710|550,000|||1,639,710|||1,645,579|
|Creditors:|amounts|falling|due|after|
|one|year|7|
|Provisions|for|liabilities|a|
|FundsTotal net assetsof the|orCharity liabilities||==|1,089,710|550,000|||1,639,710|||1,645,579|
|Endowment funds|,|a|sr|
|Restricted|income|funds|1,639,710|1,639,710|||1,645,579|
|Unrestricted funds|PY|-|-{[ =||
|Revaluation|reserve|“|Tt~*”|
|Totalfunds|8||—|-|||1,639,710} ~~~-|||1,639,710|||1,645,579|
|Endowment|funds|2 se|
|Total funds||=||1,639,710|
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Signed on behalf of the Trustees
Date? ciscavescmescss enemas
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Dowsett Almshouses Trust
Notes to the accounts
Charity Number: 220610
Year Ended 31st March 2021
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Note 1
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Basis of preparation
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1.1 Basis of accounting
These accounts have been prepared under the historical cost convention with items recognised at cost or transaction value unless otherwise stated in the relevant notes to the accounts, The accounts have been prepared in accordance with:
the Statement of recommended Practice: Accounting and Reporting by Charities preparing their accounts in accordance with the Financioal reporting Standard applicable in the Uk and Republic of Ireland (FRS 102) issued on 16 July 2014.
1.2 Change in basis of accounting There has been no change to the accounting policies (valuation rules and methods of accounting) since last year (except for the following).
1.3 Changes to previous accounts No changes have been made to accounts for previous years.
Note 2
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|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
|Incoming|Resources|
|Recognition|of incoming|These|are|included|in|the|Statement|of|Financial|Activities|(SoFA)|when:|
|resources|
|e|the|charity|becomes|entitled|to|the|resources;|
|e|the|trustees|are|virtually|certain|they|will|receive|the|resources;|and|
|e|the|monetary|value|can|be|measured|with|sufficient|reliability.|
|Offsetti|There|has|been|no|offsetting|of assets|and|liabilities,|or income|and|expenses,|
|Bening|unless|required|or|permitted|by the|FRS|102 SORP|of FRS|102.|
|Grants|and|donations|Grants|and|donations|are|only|included|in|the|SoFA when|the|general|income|
|recognition|criteria|are|met|(5.10|to|5.12|FRS|102|SORP).|
|Volunteer|help|The|value;|:of any voluntary help'|received|is|not included|in|the|accounts|but|is|
|described|in|the|trustees’|annual|report.|
|Investment|income|This|is|included|in|the|accounts|when|receivable.|
|Investment|gains|and|losses|This|includes|any|gain|or|loss|on|the|sale|of investments|and|any|gain|or|loss|
|resulting|from|revaluing|investments|to|market|value|at|the|end|of the|year.|
|Expenditure|and|Liabilities|
|Liability|recognition|Liabilities|are|recognised|where|it|is|more|likley|than|not|that|there|is|a|legal|or|
|constructive|obligation|committing|the|charity|to|pay|out|resources|and|the|
|amount|of the|obligation|can|be|measured|with|reasonable|certainty.|
|Assets|
|Tangible|fixed|assets|for|use|by|These|are|capitalised|if they can|be|used|for more|than|one|year,|and|cost|at|
|charity|least £500.|They are|valued|at|cost or a|reasonable value|on|receipt.|
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Note 3
Analysis of incoming resources
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||||||||||
|---|---|---|---|---|---|---|---|---|
|Unrestricted|Restricted|Endowment|
|funds|income funds|funds|Total|funds|Prior year|
|Analysis|£|£|
|receivable|23,167|17,400|40,567|36,052|
|a|se|
|a|es|ee|
|a|es|es|
|Totall__|=|||23,067]|17.400]|40,567]|36,052]|
|income|nas|ra|85|
|lother|[|PT|
|[total8|
|Note4|
|Analysis|of expenditure|
|Unrestricted|Restricted|Endowment|
|funds|income|funds|funds|Total|funds|Prior|year|
|Analysis|£|£|
|Expenditure|charitable|Waterrates|||a7|[T2287]]|
|activities:|[Repairs and maintenance [= ||21,342[|20,652]|41,994]|2|7,8,19|5|6]|
|Legal[Auditinsurance[Subscriptions & &professionalfees accountancyfees|[|[||CT|[||T|[01148]|Tt2B]|1,212534 ||
|[Otherexpenses||||Tt|P80888]|170]|
|a|OO|||
|esa|es|es|
|a|es|
|a|eee|ees [eee|eee|
|a|
|ss|
|eae|EE|8|2|ee)|
|ee|
|a|
|geeaRs|
|Total|ES|es|ee|ee|eee)|
|expenditure on|Po|25, 386P|20,988]|46,375]|37,967)|
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Note 5 Tangible fixed assets
| 5.1 Cost or valuation | |
|---|---|
| Freehold Other land& Plant, Fixtures, Total |
|
| £ £ £ £ £ |
|
| At the beginning oftheyear Additions Revaluations Disposals Transfers * Atend oftheyear |
1sg90o00[ - |
| 5.2 Depreciation and impairments | |
| At beginning of theyear Disposals Depreciation Impairment Transfers* Atend oftheyear |
Se ee ee ee aeee el a ee esee es ee ee esee ee |
| 5.3 Net book value | |
| Net book value at the beginning | 1,590,000 1,590,000 |
| of the year | |
| Net book value at the end of the | 1,590,000 1,590,000 |
| year |
5.4 Revaluation
A valuation was carried out by Mr David Dedman FRICS in September 2018 of the ten properties owned by the Trust and the Trustees are of the opinion that this valuation was still relevant as at 31st March 2021.
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Note 6
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Debtors and prepayments Amounts falling due within Amounts falling due after
one year more than one year
Analysis of debtors £ £ £ £
Trade debtors a es es
Amounts due from subsidiary and
Other debtors es
Prepayments and accrued income [=
Total
Note 7
Creditors and accruals
one year more than one year
£ £ £ £
Loans and overdrafts es es es
Trade creditors a es ee
Amounts due to subsidiary and
OtherRents creditors | 28,369f [7c4oT-P-] |
received in advance P 800 | [800]
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Total
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Note 8
Endowment and restricted
8.1 Funds held
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|||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|
|Fund|Name|Type|PE, EE|Purpose|and|restrictions|
|,R|or|other|
|Restricted|income|fund||R____|[[Refer]|[to]|[Trsutees]|[report]|
|Endowment|fund|Refer|to|Trsutees|report|
|Pe|
|a|
|a|(|
|Fund|
|Se|‘|balances|
|Maer Miata|brought|Incoming|Resources|Gains|and| | Fund balances|carried|
|forward|resources|expended|Transfers|losses|forward|
|Fund|names|£|£|E|£|£|£|
|Restricted|Income|Fund|55,579|23,244|25,386||-|4193[ =|49,243|
|Restricted|-|Property|Revaluation|
|Fund|1,040,000|1,040,000|
|Endowment Fund|||17,400|20,988|4i93[|= TS|
|Endowment|-|Property|Revaluation|
|Fund|550,000|550,000|
|a|ee|
|Total|Funds|
|8.3|Transfers|between|funds|
|From|Fund|(Name|To|Fund|(Name|
|Endowment|Fund|Restricted|Income|Fund|Excess|of|resources|for|the|year|4,193|
|OOSa|QOa aeaus—__(OO||
|a|QO|(OO|
|8.4 Analysis|of net assets|between | Unrestricted||Restricted|funds|
|£|£|£|£|
|Fixed|assets|;|sie id|1,040,000|550,000|1,590,000|
|Investments|es|es|es|es|
|Net current assets|;|49,243]|sg||49,243|
|year|and|provisions|
|Total net assets|PT|7 089,243]|550,000]|1,659,245|||
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Note 9
Transactions with related parties There were no transactions with related parties during the period.
9.1 Remuneration and benefits
No remuneration or benefits were provided to the Trustees during the period
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