Dowsett Almshouses Trust Report and Accounts Year Ended 31st March 2024
Dowsett Almshouses Trust Contents Year Ended 31st March 2024 Page Infomalion sheet Trustees report Independent examinerfs Teport of the accounts Slalement of financial activities Balance sheet Notes lo the accounts 10-13
Dowsett Almshouses Trust Information Sheet Year Ended 31st March 2024 Trustees Cllr Kevin Robinson {Soulhend on Sea Mayor) - Resigned May 2023 Cllr Stephen Habemiel Isoulhend on Sea Mayor) - Resiqned May 2024 Mi P Andrews- SecrelarylTreasurer Rev S Ejaz Rev D Gates Accountants Devonports LAS Accounlanls Limited Cumberland House 24-28 Baxter Avenue Southend on Sea Essex SS2 6HZ Prlnclpal Address Clo 160 Tankerville Drive Leigh on Sea E55ex SS9 3DD Regl$lered charlty number 220610 Page 3
Dowsett Almshouses Trust Trustees report Charity Nufflber- 220610 Year Ended 31st March 2024 Statutory Infomiation Registered AddsS Clo 160 Tankerville Drive Leigh on Sea Essex SS9 3DD Charity Registration Number 22C610 Trustees Cllr Kevin Robinson Isouthend on Sea Mayorl- Resiglled May 2023 Cllr Stephen Haberrnel Isouthend on Sea Mayorl- Resigned May 2024 Mr P Andrews- Secrelaryfreasurer Rev S Eiaz Rev D Gates Bankèrs Barclays Bank 127 High Street Southend on Sea Essex SS1 1JS Annual Report for year ended 31 March 2024 The Trustees present their Annual R8POrt and Financial Statements ft)r year ending 31 March 2024. Charitable Oblecl Charity is governed by sn Approvèd Governing Documènt which states th81 the principal purpose of the charity is to provide affordable housing lor the elderly and infirm in the City ol Soulhend. and to apply the income of the charity foi the benefit of the residents in the Alrnshouses of the charity or any ol them in such manner as the Truslees ihink ril, frotn time to time. The Trust owns 8 Mmshouse properties, which il maintains. in Chelmsford Avenue, Southend on Sea, and 2 endowment property hou5e5, the income frorn whith support the work of the alm5-houses. Organlsational Structure The Trustees are appointed as ex-officio Trustees from the Free Church communrties within the Borough, or seconded by Ihe Trustees accordingly, together with the Mayor ol Southend on Sea who serves as Chaim)an lor hislher year of office. Trustees meet several times a year, together with an annual AGM, al officers are appointed, and they are respsIble together ft)r the day to day running of the charity, and the financial and legal aspects. Page 4
Objectives and Activiti•s Charity produces an Annual Report each year which details the actwities undertaken in the crrent year to show the public benefit and the achievement of their aims and objectives. In order tr) achieve the pThnripal objective. which is sel out above. the TTUSt endeavours to maintain the properties in a frt stale ol repair. and make ne¢essary improvements as and when they are required. It also provides appropriate insurance cover for Residents properties and contents. up lo a measured amount. and water and sewerage connections. A small malntenan¢e tharge is levied upon the Almshouse residents and revY8wed annually. Achlevements and Perfomiance Over this yearthe bungakjws and large garden Continued to be rnaintained in good order and were fvlly occupEd for reporting period. One property had a new lenant but all others Maind consislenl. Four of the eight residents are in now in reTript of Housing Benefit. all of which are now paid directly to the Trusts account During the course ol the year Southend City Council designated the Almshouses as a conservats'on area. This bMII have some Impact on the external decoration and upkeep of the 8 charitable propertie5. Maintenance and Security- Al of the bungalows were kept in a good state ol repair, and the Borough Council continued to offer a call-oul Servi for the residents, which was much appreciated. The snnual fee lor this Servi is £2100 lind VATI agreed by the Trustees and Counoil. The level of this fee is currentty under negotiats'on and may rise, but is considered a hugely beneficial resource and service to the residents and tha Trust. At the stsrt of 2024 a serious water leak was diseA)vered pertaining to propety number 8. This had led to excessive water rateslbills. Repairs were not covered under insurance and made by the Water Board at the trusts expense. However. the Water companies made adjustmènts and rèfund8d a larg8 percentage of tkE excessive billing, albeit after the end of the finanaal year In accordance wth the work that was approved al the previous years AGM. there wa5 SOtn8 work on èlectiical services. fire security systems and general rnaintenance. As per norrnal. costs for these works were passed on after the year end and shown on the accounts ancl a small surplus noted, which MAII be used on p18nned works in the coming months. Endowmgnt Properties . Rental income is regularly re1Ve from both propert$ wlhout any proNem. Trusteeship- The Trustees remain quorale according lo the Constitution of the Trust. The Trust remains fortunate lo have the continued Truslee5hip of the Mayor of the City of Soulhend. The Trustees are still to review the Governing Documents in the light of congregation81 changes in Southend tr> bring the ex-officio posrtions up to date. SecretarylActing Treasurer. Trustees agreed to ask Mr Phil Andiews to aLt 85 Tre85urer I Secrel8ry lor Ihe year. Page 5
Financial Review The Trust conbnves to raise funds from the endowment property rental wth further income from the AlmshcMJses rna1ntenan tharges. The most &gnificant expenses related to on*tsing maintenance and repairs provided by Southend on Sea Borough Council. along with other property rnalnlenan and repairs. Gardening has generally maintained ils cost with the gardener providing soffle additional houis and other costs ar services have mostly risen according to inflation. For the reporting year, despite the maintenance proj.ects undertaken, oth&r exp&nses were generally in line wlh expectations. and the Trusts budget which was set at the previous AGM. The Trust contsnues to have sufficient funds to allow 12 months of continued expense in the event of no income and in view ol the "catching up. ol maintenance expects the nexl year lo be an opportunity to build reserves again. Trustees are satisfied that sufficielll reserve5 are still in hand. 11 Is expected that reserves should continue to rise over the coming year. The financial results of the year are set out in aecompanyng financial ststernenls. Financial Rlsk As8e$smen¢- Fortunalety, the income ol the Trust is not affected by th6 threats pr&sÈnted by i$sues such as the Covid-19 51tu8tion 8S It Is rK)l aclivety engaged in fund-raising activities. The Trustees are sats'sfied that they have sufficient reserves al the Balance Sheet date. together with antlClP8ted income. to enable the Trust to function effectively in the coming year. The Trustees have made an assessment of the major risks facing th8 Tiusl. 8nd are 5alisfied that policies ale in place io rninimise these risks. Health and safety assessments and property insurances are up to date. A valuation ol the properties was last undertaken in 2022 and wll next be remewed In 2026. The Trust is grateful lo Devonports LAS Accountants lor their help In examining this year's finan¢ial statsment. P Andrews lon behalf ol the board) Secretary Date.. Page 6
Dowsett Almshouses Trust Independent Examiner's Reportto the trustees of Dowsett Almshouses Trust Charity Number: 220610 Year Ended 31st March 2024 Respective responslbllltles of trustees and examiner The charills trustees are responsible foi the preparation of the accounts. The charty's trustees consider that an audi( is not required for this year under section 144 of the Charities Act 2011 (rhe Charities Acll and that an independent examination is needed. It is my responsibility to.- 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 145151 Ibl of the Charities Act, and to slate whether particular matters have COMÉ n Basi$ of independent examiner's statement My examination was carried out in accordance with general diiections 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. 11 also includes eonsideralion 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 eviden that would be required in an audit. and consequently no opinion 15 given as to whether the accounts present a Irue and fair. view and the report is limited lo those matters set out in the ststemenl below. Independent examlnerfs statement In connection with my examination, no matter has come to my attention which gives me reasonable cause to believe that in, any material respect, the to keep accounting records in accordance with Section 130 of the Chari(ies Act., and lo prepare accounts which accord with the accounting records and comply with the accounts requirements of the Charities Act have not been mel., or to which. In my opinion, attention should be drawn in order lo enable a proper understanding of the accounts lo be reached. Mr l Hornsey FAIA FFA Devonports LAS Accounlanls Limited IncorpDraleil Financi81 Accountants Cumberland House, 24-28 Baxter Avenue Soulhend-on-sea Essex SS2 6HZ Dale.. 2-101125 Page 7
Dowsett Almshous8s Trusl Statèment of Financial Activitiès Charity Number: 220610 Year Ended 31st March 2024 R8stricted Incomo fLJnds Unrestrlcted funds Endowm•nt Totsl th1$ funds year Totsl last year Ineoming resources (Note 31 Income and endobyments Irom.. nAitoThsand kgaues CharilSblE ath%itièS 21,498 18,200 39,696 37,802 Otnetiiading a¢leS Inve51ments 84 84 io Separaiernrfa1 iteffl olhxome other Total Resources expended (Note 61 Expendituro on.. 21,580 18,200 39,780 37,812 ChaTria athi%ilL8S 28,419 18.391 46,810 31,691 58paral@fflaana1 of•xpEnsè Other rotal 28.419 18.391 46.810 31.691 Net incornellexpenditurel before investment g2inslllo$sesl Netgan91llosse$i on Inw&bMeMS 6,839 191 7,030 6,121 Net Incomellexpenditurel Extraordinary items 6.839 191 7,030 6,121 Transfers between funds 191 191 Othèr recognisèd gainslllossèsl.. Gwns and10ssès on ifjVU10n oifixed a5$91s lryth charilKsown usa Olhergain*llo3sesl Netmovement in funds 7,030 7,030 6,121 Raconciliation of funds.. rolal Tund3 [opNd rotsl funds carried forward 1.394,740 1.387,710 640.0(X) 640.0(X) 2,034.740 2.027.710 2.028.619 2.034.740 P4e8
Dowsett Almshous•s Trust Balance Sheet Charlty Number.. 220610 Year Ended 31st March 2024 Restrictsd Income lunds Unrestricted fun(ts Endowment Total thi8 funds year Total last year Fixed assets Intangiblè assets Tangible assets Heritage assets Investments FOT F02 F03 F04 F05 1.360,000 640,000 2,000,OOQ 2,000.000 Totsl fixedassets 1,360,000 640.000 2.000,000 2.000,000 Current assets Stocks Debtors Investsnents Cash at bank and in hand rolal current assets 2.191 2,191 11,800 47.072 58,872 53,133 53,133 Creditors: arnounts falling due within one year 25,423 25,423 24.133 Net current assetsl{Ilabilities) 27,710 27,710 34,739 Total assets loss eurfftnt liabilities 1,387.710 640.000 2,027,710 2,034,739 Creditors: amounts falling due after one yèar Provisions for liabilities rotalnei assets orliabilitles Funds of the Charity Endowment funds Restricted incomè funds Unrestrictèd funds Revaluation reserve 1,387,710 640,000 2,027,710 2,034.739 2,027,710 2.027,710 2.034,739 Total funds 8 2,027,710 2,027.710 2.034,739 Endowment funds Totsl funds 2,027.710 Signed o ehalf of the Trustees Date.. Page 9
Dows¢ttAlm$htsus•s TTUgt Note$ iothtr ac¢ouMts Chgrity Numb¢r." 220610 Y•at End•d 31st 2024 Not• 1 Ba515 of preparatlon ThE5? aEuuDIS have b¢¢n prepared under thehisi¢ft¢4 ¢051 ¢offlnikn)¥Lith iwror9¢oDI •1 toslortr4nsachon vaU10therthssl8Ld M there1enE notesto the ar1.The•XOuls h4voboqn prepared In4c¢OrdaA¢e Ylth. the Slatemenl olieeommendÈd pf£¢ii¢e. Ants9 atttsunisin atctsrdancetho Flnancioa Ièpow Sland¥d applicable In th8Uk and Rewbllcof Ireland IFRS 1021 ISon I61 2014 t.2 Chan9è ba%ls oficcountlng Thsr8 nothLqq io ttbE accounllng leI¥41uPtI0n Nie$#$cC¢Ikn¥I ce ¥tyPr(eXcePl fortheIlnVI. 1.3 Ch4ngesto prpYiou5 袢tyJTrts NochalShIyC beenThade h7accounls forprewcusyears Note 2 Incoming Rè$our¢e8 Rocognitn ol Incornlng r•sourc•s These 4Tè In¢iudÈd )thesiakmeniofFThn¢ièl A${$0FA) when.. • th¢¢haAtybÈMmÈ5 Iht reswé$. • the Irustees bre rtUallYCertaln iheywi1lrece1e Ihe re3ource& aNd ¢ mw¢i8tyvOlu¢Un 0¢ me86ur¢d r¢iarxhty. oils•TrA Ther ha6 bÉan Dtsomseitiro Dfassét& andllablitstrs. Orffi and expens&$. leSs[8qUIr0d orpemmiied tylhp FRS 102 SORP DIFRS 102. Gtants and d¢natkont GF4nts and donahonsare ontyinduded the SOFAEll the yeneralincomp rew1 ¥e mei 15 10 io $ 17 Ffts 192 SORPI The vaue ofanywlunlary help receiwed 15 IncE in Ihp accounts but15 V¢Aunt##rh&lp InVestnt Thi5 Mduded In the tpceivable InvestmEllt•olns¥Trd lts¥ses This oajn or lossonthe salÈ tsfin¥éStmintyandanyoail(YKIss teJrtrOM Ialu1 InveslmenL%to mathetvakEatthe of the yeBI. ExpendSlure Li4bilili¢s LlabdiÈ$are réwlséd morelW Ihan Ml knal Ihemisa lègal or¢onSinKti¥È tsbligaii¢n LMlI19 Ihe (tyt0pol f¢sour¢Ès and Ass•ts T4n9ibl&fiXgd 4t8 lorus•by T5• al+p1JrfeY(n bpu5ed tDrmoTe Ihanonpye¥i.4nttcost&t 1&951E5DD. Tn¢y arÈ valu¢Q atw$i ora0$00abUe on ¢t. P4• 10
Note 3 Analysls of Im¢oming reyuurcei lur Int¢mifurtd PrtY•lr Anatysl$ CharftabI•4<ylE Rent receivabie 21.498 Totsl 21.4 18,200 INer8st Income Other 84 84 10 Tot 84 io N0tr4 Anaty811 of •Kpendiiure nd knd4 Tfjtsllurth PAorswr Anal 51 Waier rates Re airs Le al & rofessional lees Audit & accountan fees Expenditurt ¢haiitabk 3.744 22.612 3,744 28811 2.398 26 862 253 674 1.291 6.198 469 1.248 345 135 298 604 1.50S 345 Sub5C 8ad debts 11.800 expp reon Note S Tanglble fixed assets S.1 Co$torvoluatK)n Frvlhold thnd C4rInd FIxrns. fiwngs Total At the bInnIng ollhe year Addilron$ Revaluatn$ Disposals Transfets. Atend of IheyEar 2,000.000 2,000.0 2.000.0 z.000.000 &2 Depreclation and Imp•lmFnts Al bsgiDniDg of Iheyear Oi5PDsals Depreualk Imp8imèni TTansfet5' Atend of Iheyear &3 Net book value Nei Yalueal the beginnirN of year Nel book ¥ae altheend oflhe year 2,000.OOD 2.OW.000 2,QOO.OOD 2.ofAI.OOD Paw11
Note 6 Debtors and prepaym2nts Amounts lallino du• wlthin oné Amoknntsfolli19 4ft¢r moré than yèa Th5s yèar Lllstyèar nalysls oldtbtorJ Tradg débior& AmDun15due from SubsVAry&d 4SxKi4W underfak95 Olhei d8bb)rs pRpaymenis and accrutrJ1p 11,8th) Ntstty 7 CroditDf$ and a¢¢rual$ 7.1 Analy51s of creditors Amount% fallln9 du•wlthln ono Thli year mor• 1¥•r asty•4r Loon&and Qw•rdr8n$ Trade credilors AmDun1$4ve gJOSioiaryana 8$$OCi¥téd und¢nakkn9$ 01herc&tOrS R¢nts in adwa Total Not• O Endgwmentand r¢$tyi¢ted &1 Funds hold Fund Narn Typ¢ P& EE. R•roth¢r Purpoxand T•StrfcUoTr R¢$1fi¢1¢d ¢(rt d(Fwm8fiifund R8ler lo Trsuiéésreport ort PE Fund bil4nco$ brought rorw4rd .2 MtyvemEhts Incornlng r•sourc•s R•wvrc•s •xp•nded Galns and Trafflsfors fQtw4rd Furyd RésInd Incom8 Re51ncted- Property RevaIL1 34.740 21.580 i.?eo.o 1.380.000 End9WertFu EnQDwmeThl- PloportyRèau0n Fund 18.200 192 640.0 0,000 $.$ ¥rnfjlrn beiween fvnds From Fund Endowmenlfund Niffl• To Fund Nam Re51ncted Incornp Fund 1.4 Anèww$ oln•t49$èts beiwppn Unr•s¢dctod Rtrstrkiad Endo¥Yort Total FixEd issets Invp¥trnent¥ 1,3fj0.QQO 640.QLY) 2.000.0 Cr•dllor4 sn mor•than on• y•ar4nd prOvrIn5 Total n•ta$w Noio 9 TrkTr5•¢htsrt$with RLItEd p4rt ThèrèWertnotraD5R(05IIkn rdated p&ffjp4 tho periad. 9.1 RÈmtsnèr•iTr Ind benefits N¢ rMnall0¢r btyMfilS%vèf¢ the TN61¢è9 duringth¢ P¢riOd P49 12