Rti"i.hlEI-ed C'li1( rity Nuniliei. 2?1005 Walcefield Charities, Hoines STATUTORI" FINANL IAL STATE.MENTS toi. Ilie year ended -1 l Mai-cli 20?1
FLoiLleS ¢ll)d c'oli7LIl7lII¢5 Auency NuTnbei' A2920 Registered Cliai"Ily Nulliber 22100$ Wakefield Cliai'ities, Hoiiies FULL DETAILED F]NIANCtAL STATEMENTS for tlie year ended 31 Mairli 2091
Wakefie,Icl Cliaritie,s' FIoiiies TRI.ISTEE',% RI,.PORT r.OR THE I'EAR ENDED 31 MARC'H 2021 I'IIL I'E-usleE PL'ebtiilg 115 aiuiiial I'¢pori foi. IIEe ye¥i' ¥iided 31 Mairh 2021 iiiidEI' Ilie Cliarilies Acl 2011, I'knqLiiieiiiLnlb ot- tl)e Act, the Ttiisl Deed aiid Rei)oi'ljiiii by Cli1¢ rilies.. SiateiiiLnl of Recoiiiintii(IL(I Pi'dctice ippIiLic ble iii Ilie UK and Repiiblic of b'elaiid (FRS 1021 (elTetylie l January 20151. PEI,'ERENC£ & AD11[.4TRAT1V[r INFORMA'fioN Wakefield Chaiiiiei, H(Ime£ was incoiporated oil 21 F*111'uaiy 1989 unclei. a revised sllkgle SclieiL¢ of M&iiag¢niei)l ivliicli coinbiiied Ilie oliai'ilies ol Majoi. Bai-kei. l-loiiies, iti Ilie Bcclesi1£ slical PRI'ishes of Tlioi'i?es aiiLI Llrrisl Chiiicli, Wi?kefiel(I, i.e11ale£I by a SLheiiie of tl)e Cliaiity C'oiiiinissioiiei's of l? O¢iob¢i- 19614111rt C'oiisolidai¢d Charities, u) the foi'iiier Cc)uRtJ.' Boroiigh of IVakefiel(I, I'etsLil¢Lled by Scliein¥ of Ilie Cliaiity coinini8sioiiei.s of 6 SeiJI7]beI. 1961, tiiid tbs 11 l)ieiidtd ON 15 NlillLlI ?016 folloiving a Liiei'oeT' Il'ltli Di- Ci-owthei-'s Alinsl)Ollbe Cliai'ilv. WRkefi¢ld ChaL-ilies' HoiiiLS is a I'¢gislei'ed cliaiily No. 221005 and a rtgisteE"ed SOCic11 l£iiidlord No. A?9?0. The Chai'ity's princii)<il additss is.. GOr[lo1.%, Oftice, Giecii House, 158 Noithgate, Wakefield, IVFI 3UF. GOVERNORS Tlit Tiuslee ol. bValc£ticld Chllrilies, Hoill¢LN is WakefiL.Id GÈBinni411' School Foiiiidalioii. Tlie Ooveinors of Mr.S C111¢ Inbei'laiii {Cliaii' of Goveniors} MI. S BLilleriv(iJ-Ili Mis C Goiton (Rebigiied ?? June 2020) NTr.l Jeffiies liss A .1 Tuiley Mts I-l Mdssey Misi E C Pcckett Irs P Pluiiiplon Reverend L VilSLy-Saundei's Mr F. Galbi'aith . 8 KbaLI l_4ppointed 4 Mar¢li 20?1} Ms JEClaiie Mi" S Baxtei. (Re311ccI 24 Febi'Liary 20211 MIT C Hariibon Protesiol" D Jeidcins Mr l A fvlcllilllay Mr T WLlton Mi. fvl Shevill {R¢si.(med 15 Ocloba. 20?01 OFFICERS AND KEY fvIANAGEMENT PERSONNbL I"_.onipally Sccirtary.. Mr L Peii? ADDRESSES Addr&8$ olcharily.. Wakefield Chai'ilies, Hoiiies GDverJiui'b Offic¢ Grn House 158 Noitligale Ivakefield IVFI JUF Address of Hoines niii by the Charity.. Home Sii-eet IVal<etielcl IVF2 8EA HoliiiField Av¢nue IVc1kefiold WF2 7AF WLStfield Road Il'akelield wri 3RB George Street WakeField, WFI INE
Wcllcefield Cliai-ities, Hoiiies TRUS"fEE'S REPORT FOR'fHE YEAR ENDED 31 MARC14 2091 piiorF.,SSIONAL ADVISERS BankeL?'. Bai'cltTry8 Baiik pl¢ Ti'uiily W Allc Shopi)iiiL Ceiitre Teall Way Ivakefield IVFI IQS Auditors.. Saffery ChainpLiess LLP Milre HL)use Noitli Pai'k Road Hanogal HGI 5P Soliciloi's., Newtons Solicitoi"s Unil 8, Calder Clos¢ Wc?kefi¢ld WF4 3BA SiockbJ'okers-. Juliiis Bi¢ r IiileniatlOll2I l Lid Tlib Platlon New Staliotk Street Leeds. LSI 4JB STRUCTUREI, GOVKRNANCII AND MANAGEiKCI NT GOVERNING DOCUMEwr 'I'be Chaiily is govcined by Ihe provisions of tlie Ttusl Deed, Ivlii¢h was last aiiieiided 15 Mairts 2016 Eollo%ving the LTEei'geL' of the ch£irity willi Dr Crowtl)ei-'s Almshouse Chaiity. GOVERNING BODI, GoveiTOlb £11'e elected at a Tnccting of tlie Board of Govemois lo ellsure, Ilu'oiigli carefil selection, that the Board conipi'Eses Goverllors with appiDpriale sl(ills, eKpeiien¢e Iilld the dedic[1 necesSlry lor Ili¢ 01)ei'alion of a cliarity. I'he full Board ¢onsi5ts of Dineteen Governors, eighteen of wliom ai"e co-opted and onc of ivhom is noiiiuiated by the Cliaplei. of Wakefielcl Caihedr&l. Gov¢lliors nonnally serve a foiir year tbnn of office with a inRYimUID of Illl'ee tel.S pei'initted. 1lie Chair of Goveiiiois and Depiity Cbaii. of tiovemors al'e elected aiuiually at the Foundalic>i)'s Anllual General Meeiitig each O¢lob¢i'. TRUSTEE TRAINING New Goveniors al'e iiiducted lllto the operation of tlie Chai'ilyi including ils Policies and Procediiits, and appropriate Iriist¢e trauilli¥ is ortrallised for all Governois. ORGANISATIONAL MANAGEMENI. The Governors Tl)eel Ils a Board four linies a yeai. lo deleiiiiille and review the gencral 511'alegy ot the CEiai-it)' Icnd lo I'evieiv its ovei.all management 8iid Lonirol, Foi. which Il)Ly ai"e leually responsible. iiplenieiilEltii)11 of the Board's policies For Wakefield L,liarilipA' Flonies is delegated lo the Governors Homeb c.oiniiiiE(ee, Ivhicli Ineets re(Yularly tku'oiighout tl)e year. Tli¢ day-lo-day iunning of tlie c.harity is d¢legaled lo tlie Directoi. of Finance & Operations and the Homes, Irfaiiager, suppoi'ted by the Tiiistee's Estates and Administration departellts. Page J
W¢llie,field C'liai"ities' Honies 'I"IIUSTEE'S IILIIOIIT FOR THE I'bANi ENDFD .31 NCARCFI 2021 SI'RUC'.'I'URE, GOIICRI4iANCE ILND 114ANAGlI Mf.NT (e(iJiliiiiieil) ORGANISATION.4L S-FIIUL-1"U. AND REL4TIONSFIIPS Tlie Iloiiies ooiiipl'ise 31 clwelliii¥s, 17 81 bluiiie 811-eel, 4 cl¥vLllinrT5 ai 1401111 [l1d Aveiiiit, 6 Aliiibhouses lll Ivesifiuld Road iiiiil 4 Aliii8liouses ill CJeoi'ge Sii'etrt, all iviiliÉn the C'ity ol. WaLetielcl. [.Iii{ILi' Ilie iei'iiis of the I'ciwj.%cd Sclieiiie, IVaLelielil Cliai-itieb, Hi)nie% at'e aclininistei-ed l)y Ilie Govti'i)oI-s of WÉikefield Cii'alluncll. Scliool FouiidiilioLI. A iiithiiJgeiiieni fe¢ is pai(1 to tliig liody loi. Ilie PiDVlbiOli of riIiuiicial ajid Iidiiiini¥(Ililiv¢ stiwices Iroiii tlieir preii)ISLS lli Nol'ilii)I¢, Wakelield. Rtslc MANAGEMENI. Tlie BO.J,S Rtslc dnd CoiiiplianLe Coiiiiiiittee, consislijig of Gov¢moi3 Etnd ineinbeiE of Ilie seiiivi. Inaiiagenieni (eaiii, ckiiiiiine Ilie piincii)al ai-eas of Ilie Cliarity's operalions aiid coEisider tlie ii)ajoi' risks fic ce(1 eal'li of Iliknse ai'e&?S. i the opinion ol. tlie Tiiisle¢, tlie Cliaiily has put iii i)lac policies aiid pi.ocEdiir, aiid lias itviewed systeii)b ivliich, uiider noi-lllic I conditions, will allow Ilicse risk.% lo be Liianatrcd 111 an acceptable level in the day-to-day opcralions ot. tl)e Cliarity. I"11¢ i)oliLLe5 ancl systenis ivei-e cidapled iEI Api'il ?O?O lo i)iaii<ige tlie inci'cdsed risl<s iiiiposed by plie Covicl-lg patLcItiiiio. AIMS, ObJEC7'I1.5 AND PRNCIPAL AQTIIqTllI S TIi4TEGIC' AIM AFID INTENDED EI-.I-LCT Thu Chc1rity's sl121egic aiiii is Ibe proper inRiiitenatice ot ils aliiibh()uses in older lo coiiluiiie lo b¢ able lo pi'ovide good ilLLality a¢coLllmo£lalioii For Ee8ideiiEs lli affor(lablo price arld to Ineel LyoYernn]eril hoiising slandai'ds. Maintenance cliarges ait kei?t al 8 level sufFi¢ieiit to ineel arlI£ll overheads biit do not allo¥v for Ilie co¥1 of bigiiificcinl sliucttii'al Lep¢lii'S aiid iiiclinlenallLL- lo Ilie Iiliiislioii.%es buildiiigs, all ofr ivhicli are listed aIE over.51) years old. ThC cosis al'e illel froin the iiiveslmeul iTrcome oFthe Cliatily. OBJE.CTtVES FOR THE YEAR The I rustee's Inain objeLIivL For Ilie yeai. is to ocliieve fiill occupancy of the nlmslioiiseb. The slri11egy Foi. achieving this is ro ¢nsure we provyde liigli quality pi-opei'lies lIOu81 rede¢orL1tion lind reftii.biskniienl as &ppropriRle. Vacanoi¢s arisllig al'e extensively ddvettised in Ihe Wakefield area. Thr Goveinors believe that the continiious prowaIiune of reEili'bislIeI will ensure tliot Ilie Chaiity continu& lo ineet Ilie GoveETllnenl's D¢¢¢nl Flollies Staiidai'cl for all ils pi'operties. PRINCIPAL ACTtVJTI' The pi'incii)Jl 21 clivity uonliniies to be IIIE provision of gooil quality accoTniiiodc?lion ul ali affoi'dable PL'iI% lo those iii liiianLial nted ivlio l)ave a cowieciion with lh¢ City of W£ik¢fiknld. R¢8ideiils iUSI bl over rlit aiTe of50 yeais, REIUEIV OF ACHIE1 fvtEINI'S AND PERf,ORWCE IOR"fHE YEAR OPERATIONtlL PbR[.ORÈANCE Thejc iveiE hvo vacant PTopeIties al 31 fvlarch ?021. One residelil hd iuoved lo ali alienialive pi'operly owne(I by the C.higiily and another had, saclly, pa%sed aivay, Pcige 4
Wakefield CliclL"ities' Hoiiies 'fRUS-FEE'S REIIOLiT FOR THE YEAR ENDED 31 MARCF12021 tNVESTMfNT POWERS AND IJOLICY PEIiFOIIJL4NCE, Tlie Goveiiioib llLt i)ei-iiiitted lo ty)vest Jvailible lIdS al Ih¢ir abstslule (lisci'clion. Tl)e Govfflmors d¢legal Ilie iiiaiiageiiieIit of Ilie boiindalioii's iiiwesliiiails on a discirtioiiary basis lo JLilius Bar lte1'natIonal Ltd who i"eporl lo Ilie GJveiiioi's' Finaiice ConMiitlee evcry six months, inLILiding peI"CoiiTiiiiice coiniiaiisoii and s¢ctoi' bencli-iiiAI'kiiig. Tlie FiiiÉiiice Coiiuiiille¢ lias set out its iiivdqtineiit priiielples. Ilie specilic lono. leiin objectives ol. kvliicli al'e 111e achieiieineiil ol- a balanc¢ of incolue aiid 'Owth will? atLniial Inlal rettjins al least Inalcliing tlie i)eifonnttiice of tlie FfsE NVMA index. Betweei) 31 Maroli 2020 £llid 31 Mai'cli 2021 tlie value of Ihc Cliarity s inveslmeiit portfolio, ollier Eliaii COIF sh£lT'es, iiicieiised by 23.88'/ (after allo¥ving For Iict additions of £14,007) fr0111 £561,335 10 £695,408. The Vliliie of C.OIF holdings increased by 21.120/, fi'oill £187,533 to £227,145. This amoiiiils to a iolal iiici'ease of23.19D/o. Given tlie inediiim risk pi'ofile Nvlitcli lias bcen adoplecl aiid Ilie portfolio's loiig term track IEcord. Goveniory al'e satisfied iviih the i's11 lor Ibe year uiideK review. However Gov¢1'no continiie to explore all uiveslii)ei)t options available, with a view to obiaiiiing tl)e best retutns wiiliui Ihf Chaiity's u1vestmlt priIiciples. FINANCIAL IiEVIEI IV AND IiLI SUI,TS FOR THL YEAR The uet outgoing ftmds for tbe year weiE £1 0,761120?0 {iiicoiiiing}'. £7,220), after chai'A iiiailllenaiice Costs of £26,6?912020.. £25,884). Duinn(t 2017 the Tnistee COinL11issioncd a condilioi) I'epori from a fml of specialist 5UI"veyoI's ielaliTrg lo the structui'al and physio21 filTress ol tlie aD&hOuses. Tbe reports weiE of a tliorough 1£ nd coinprehensive tkatLire, of necessity produced 81 ¢ollsi(I¢Lable expense lo oiir Cbarity funds, aiid in coinpliaiice witli the I'equiteinenls of the Alinshouses Association foi 8 QiiinquenLuAI hispeclioii. Whilst Ihe sui?eyoi"s did id¢Dlify ai'eas wliere soiiie reinedial work, siicli as Toofing rep41its. wis requircd, iii gellei"al, Iliev adjiidged the Charities, Homes Ilieii. pbysical sense lo bc in rcasoIuble coudition, Ivitlioiit aiiy fundaiiieotdl d¢feGI of stiii¢ELire 01 deterioralioii. The inajoiity of tlie Charity's properties air fth¢ buildiiigs of collsidei'able aichitecttiizl and liislorical signific&nkne and the GoVe1orS rccognise Ibe need lo niuintain theiii al an clPPI'oprialely high staiidard. tn Marcli 20.20 the UIC eiitered a nalioJ]al lockdowll to PT¢veat the spread of the Covid-19 virLiS. The ClTrurily bonliiiued its pi'ovisioil of good quality accon]Jnodaliou, and essential repairs aiid mainteIiallce iyiihin the ETrluthoiises coiilinued througlioul tlie yeai.. It was en3ured thal all such maititenance woi'k was carried out saFely ÉTrnd &dheiing ID national i'eslrictioiis. Froill Febiuai'y 2019, The ReDulaloi' of Social Housing requires all Registered Akniisliouse Charities lo iepoi'l Ilieir prooress £lgarris1 seven IDAiid£ilOry m¢trios. These tkre sel oul below, iiloiigside ilie Sinall Pi'ovidei'5' Ben¢8[kIn0 outcoiiies for 2020, Ivhere available. Perceniaue of Relliveslnettt (SPBM bertchmai'k.. 3.6?ts/0) This illelric looks al Ilie invesliiieiil in property as a percenl&ge of the i'alue of total properEies held. WukefLeld Chai'iti£s' Hoines is not develDpuig into ad(litional propeities, therefore Leuiveslment is iii Elie iepair and Inainienaiice ofilLe existing higli qudlity liousin Perceiilag¢ of New So¢ial Housing UtLilS Delivered The ChaL'ity has llol devcloped new social or iioii-so¢ial housin(r units or acquired llttwly built iinils dLirillg the year, so this Inetric is not applicable. 3.OIO/o ISPBM benclullark: 16.670/DI PÉi¥e 5
TRUSTEE’S REPORT FOR THE YEAR ENDED 31 MARCH 2021
Wakefield Charities’ Homes
This metric assesses how much of the adjusted assets are made up of debt and the degree of dependence on debt finance. The Charity has no loans or finance lease obligations so has a low level of gearing.
- Percentage of EBITDA (Major Repairs Included)
This metric seeks to measure the level of surplus that is generated compared to interest payable. Wakefield Charities’ Homes does not have any capitalised interest, interest payable of financing costs, so this metric is not applicable.
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Headline Social Housing Cost per Unit £3,637 per unit (SPBM benchmark: £4,577)
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Operating Margin (Overall) (12.31%) (SPBM benchmark: 17.52%) Operating Margin (Social Housing Lettings only) (12.31%) (SPBM benchmark: 18.10%)
The operating margin demonstrates the profitability of operating assets before exceptional expenses.
- Return on Capital Employed 6.76% (SPBM benchmark: 2.35%) This metric compares the operating surplus to total assets less current liabilities, and can assess the efficient investment of capital resources in the commercial sector.
RESERVES POLICY
The Trustee has reviewed the Charity’s reserve policy and it has been agreed that the Charity should aspire to retain a sum of approximately £200,000 to allow for future unforeseen events.
The Charity’s total reserves of £2,274,124 at the year-end included £6,345 restricted income, £48,038 endowed income and £2,219,741 unrestricted income. £1,181,687 of this represented the net book value of fixed assets, £274,770 is a revaluation reserve, £137,799 are reserves designated for particular purposes, and £259,508 represents the value of a Social Housing Grant previously made by the Housing Corporation (repayable under certain circumstances) which leaves free reserves of £365,977 available at 31 March 2021 (31 March 2020 £357,188). The Trustee is comfortable with the current level of reserves held.
PUBLIC BENEFIT
Wakefield Charities’ Homes is a charity whose primary objective is to provide good quality accommodation at an affordable price to those in financial need who have a connection with the City of Wakefield. A further objective is to provide relief, either generally or individually, to persons resident in Wakefield, including residents in the homes of the Charity, who are in conditions of need, hardship or distress, by making grants of money, or providing or paying for items, services or facilities, calculated to reduce the need, hardship or distress of such persons. When planning our activities for the year the Charity has considered the Charity Commission’s guidance on public benefit.
Residents for the Charity’s homes must be over 50 years old and have financial need. Vacancies arising in the homes are extensively advertised in the Wakefield area and prospective tenants attend an interview with the Homes’ Manager to determine their suitability and circumstances. Applicants are required to fill out a statement of their financial resources, including salary, pensions and social security benefits, and must, if not already resident in the locality, give details of their connection to the City of Wakefield.
Maintenance charges during 2020/21 ranged from £46.00 per week for a single flat in George Street to £81.94 per week, including water rates and certain energy costs, for a three bedroomed flat in Horne Street. The maintenance charges are set at a level sufficient to meet annual overheads but not the cost of significant structural repairs or maintenance which are met out of the investment income of the Charity.
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W?< Iiefield Chlcl'ilies, Hoiiie I-RUSTLE'S R.EIIORT F'OR THE YEAR BNDBI) I I MARCH ?021 I'o iiiaintaiii ai)d iinpj'ove Ilie Q111< lily of its honies, rhe Chi¢ lily operates a plaiiiièLI contlllUOllS pi'ogi'aiiiiiie of IrfiJi.bisliiiieiil ai)d rLLlecui-alioLi foi. ILS Oicupied IIDiiies aiiil, Ivlien vacancies arise, takes tlie oppoituiiity to C<21'l'y Ollt siiiiilai. iiDii-scliediilecl iillprov¢iiieiits as reqiill'ed, I"lie coiniiioLI areas of Ilie hi)iiies al 14nme Sii'eel, its l)1¢ ths £111(I slaii-cases ai'¢ Iiepl cleilLI by a Conli'acl cleaiiiiig COiiiP£ltiy. In addition, residqits al'e eDcoui'aged to I'ei)oi"t 1<11 neLessary I'¢pairs lo the TiusleE. ioihci. 1£ speGI of Ilie Cliai'ily's piiblii beiielil iJoliL)' IS tli¢ pi-ovision ol'<lll ilLiniiaS suin ui) lo E2,000 iii 101411 foi. Ili¢ i'elief ui neKcl foi. I'e51ileiils of NVÉikcliel(l. b) a(Idilioii lo 'C.luislLiias Gifts ' OF £21 eacli 10 the hoLiies' resi(leiilb, graiils f?I'e niade as a 'ltLS1 I'esoL'I" aiid aiioli1)DLisIY as fÉil as tbe b¢iLcliciaiies al'e coiiceiiied, upon request fI.0 othei. Cliai-ilEkble oi. piiblic bodies such as Ihe Cilizeiis AdiriLe BU1-iL 01. IV11 liefield ltrali-opolitan Dibtiicl Coiincil, wliei-E iio oili¢i' I'csoiii'ces <1re 1£ vai11( bl¢ lo indivi(Iuic Is iLi sevei'e flliiiiicial need. 'fo ensiirL IhaL tlie gTciiils ai'¢ Iised for tlie i)urpose iLilendecl Iliey aiE inade iii the fonn of shoi) giti voiiohers or a cheqiie rni?de payLlble lo tL iepulable lioiisthold suijpliei siich ab Argos oi. B&Q. li) &clclilion lo the relief in lleed, a piDvi5ion of Lll) 10 £200 peL' AlU111 is iiiade, frojii 'S Porter's fuiid, for Ihe beiielil of poor pei'soii> I'ecoveriLig Ei'oii) illness oi. ccident. IUTMIE PLANS Oiii- key ol)jectives for the fulure al'e 10 illtaiii full ocCupcY of tlie aLrn51ioLises aiid lo coiilu?ue oiij. pFo¢ri'aNiine of i-elui.bi51uiieiil. The fJoveimors gi8ieFLilly ackniowledg¢ Ilie ivork oc tli¥ adiiiiiiisti'Aiive an(1 eslales staff of NValc$fiolil Grciiiiniar School Foiiiid<iliDii basetl al 158 N(11-IIILFale. This eiiablcs tlie Govei-1101'S to conlinii¢ lo fiilfil the cliliis aIid objects ot Walietield Cli&iilie Holli¥s, as tliey wei'e eiTrvisaged by their foullders, Williain Hoine, Majoi. Bai"ker <111d Di" Caleb th.owlliLI' so loiiu ago. AUDoRs Safteiy LThainpiiess LLP liave expressed Il)¢ir willingne&s lo contiiiue in office &s &udil01s for Ilie nexl finaiicial y¢ar. STA TE4 NT OF DISCLOSUIIL TO THE, AUDTTOR So fai. as the Goveimors are awai-e, tIierL IS 110 I'¢lcvdiil aLidil iiiloi'niiilion of Nvliicli the Gliai'ity's aiidilors ar ULiaw£ll'e. AddilioIially, the Goveinors h2ve takeii all Ilie llece%sary steps tlidl Iliey ougiht lo l)ave lakrn as Goveinoi's iii ordei. to iiiake thellisslveE Q¥VLlI-e of relevboi Judii intonnalioii and to eslablisli that Ilie cliarity's audiloi's are aW.e of Ibat inlormation. Apijroved by Ilie Tru.%tee on 28 Septeiiiber 20?1 And siLmed Oll ils behalf by IKI. S Cbamberlaln ChAir of fJovei'iiors Prtge 7
W1c Icefield Cliai-ities, Hoines STA'fEMLNI" 01.-"I'RUS'TEE'S IIESPONS, IBILITIES Tlie .1 rLislee 1% I'espLiiisible IOT piei)ai'illg Ili¢ TL'iislee'% Il¢i)ui'l ai)d Ilie finaiiLial 61aleiiieiits iii accordJiice willi 411)pIicÉible law aiid Uiiil¢d l<iiigiloiii ALcouiJliiig Siaiidai'd% Iuiiiled l(ingdoiii Geii¢r&lly Accepted AccoiiiiljiiG Prilctitie). The applical)le. lo Llillrilies in EiiglaIi(l & Nvales i'eqiiiie5 tli¢ trustee In pi'epai-e f<11¢aL s(le111entS fcTrr eaLli Iiiiaiicial yeai. wliicli givc a Ii'iie 8iicl 1<111. view oc IliL slate of L2Ffaiis i)r Ilie cli<1rity iL nd of Ilie incoiiiing 1'¥soiir¢es iiid ai)plicalion of I'1)ill. of Ilie chai'ity foi. tl)al i)ei'iod. Iii i)repariiig Iliese Fiiiancial sl£?iei)ienls. Ilii Tiustee is reqiiired to.. s¢lect siiilable ac¢oiiiiliiig wliLit6 aiid Ili&i apply Ilieiii Loiisis(eiiilv' obgeivL the illLihuds aiid pi-uiciples ii) Ilie C'l)dl-ili¢s So1 {I-RSI Q?)., iiillLe judgei))enls HIid eslim&tes tlial are I'easoiiRble aii(I i)iiid¢nt,' state wl)eiliei' opplicable Rccounlii)g staiidlrds liave bccii followed, siiL)jecl to ally Inalerial deprILleS disclosed and explnined iii the Financial stateineÈiLs' preplc I'e the financial stateinents oil Il)e going coneern basis iiiiless It is illRPPlDPI'iale to pr¢suine that tlie chc1llty ivill eontiiiiie iii biisiiTress. I'li¢ Tstee is responsiblc loi. Ice¢i)iiig i)ropei' 1£ ccoiiTrling I'er.ords Ihal di.%clthsc witli reasonable accLlI'acy al TIILY ¢ire (1180 resijonsible foi- Sl¢ fegu£l1-Iliii¥y Ilit ass¢ls 01- th¢ Llidl-lty aiid l)iiice foi. ial<ing reiisoiiahlt 8leps for Ilie pi'eveiilioii ai)cl deleclioii ol ft'diid and oiliei. ii'i'egulaIities. Tl)e Trusree is re5ponsble for the niainl¢nanc¢ ancl inlegn'ity ot. Ilie cliarily and tll?l¢ ncial iiifoiiTialioEI iniliidecl oli the ch<ll-ily's website. Legislalion in tlie Uiiitecl ICii)gdoi)I govei'iiing the prepai'atittn and di¢[nIllatIon ot tUTr£2iioial slateineiils iiiay diFlei' froii) ILgislalioii iii otlier jurisdictioiis. This report was &pprDve(I by Ilie Trustee 011 28 Seplember 2021 Mi. S Cliambei'laiii C.haii' of Goveriioi-s
Wakctield Cliai'ities, Hoines INDLPENDENT AIJDITORS, REPORT TO TFIE TRLISTEE OF W,41iEFILLD CHARITIES, HOhiIES Oplnioii We liaiie audited the liiiaiitsial slcileiiiei)Is of Ivakefield C.harilies Hoiiies foi- tlie yeai. ended 31 Marcli 2021 vliicli Coinijiise Ilie stuieineiit of fillttiicittl activilies, baldiice slieel aiid Ibe casli flow slatellienl, Èuid noles lo tlie fiiiaiioial staleiiients, illGluding significaiil It ccouiiIiiiiT poli¢i¢s. The finciiicial ieportiiiu fLain¢woFk Eh1( I lias beei) applied iii Ilieir piepai'gtion is applicable law and Uiiited Icingdoim Aceounluig Standai'ds, incliidino Fiiiaiicial RepotliLig Siandai'd 102, Ilie FTnaiiLial Repc>i'tiiig Staiidard applicable iii tlie UIC aiid Republic of Iieliind Illiiiled Kii)CTdDiii GeneIilly A¢Lepled Accoiiiiliiig Pi-aclice). ive a Inie aiid fail. view uf the chciiity's slate ol. atfciirs as al 31 Mai'eh 20718iid of ils incoiiiing ha¥,¢ beeIi pi'oi)trly pi'epai-td iii CLOI.daiice jill LILllteLfj Kiiigdoiii Gcncrally A¢ceiJtLd Aco)unliiig Pr£lClice', aiid liave beeii i)i'epic ie(l iii accord2iice with tl)e ChaLlties Act ?01 I Basis foi. opinion We conducted our audit in accordanc¢ with Intenialional Standaiyls oli AudiliLig (Ul<) IISAS (UK)) ai)d cpplicable law. Oui. I'csponsibililies iiiider Iliose slaiidhi'd5 al-t fi1111ier described in thb Aiidilor's i-espon.%ibilili£s lor tlie 311dil of tlie finai?cial staleiii¢iit5 S¢CtiOD ol, OT rei)01l. We are independent of Ilie cliaiity i.n accni-d¢1nce ivitli tlie eiliical I'knqiiireiiienls Ilial al'e iylevaiil lo olir audit of tlit t-LTratLCi81 slateiiieiils in Ilie UK. iiicluding the FRC'S Eihic¢il Staiid8rd, Riid we Iiave tuifilled oui. oili¢i' eiliical ItSPOD3ibilities iii aD1'dliCe Iviili these i'eqiiir¢meiit.%. We believe IhThl the Audil evtdence we liave obiaiiied i) 51IfFicienl and appi'opriale to pi'ovide a basis foi. oiii. 01)inIon. c.oiiclu.sioiis I'eliiliTlgF lo gouiu ¢oncerITr In Allilitiiig Ilic fini1nciiL I st8teinents, we liave ciincluded Lhai tlie Irusfées, use ol Ilie goÉiig LOliCQm basis of accounliiig iii tlie pi'Epai'alion of Ilie fiiill ncial slateiiieiils is app1'0&)riale. Based 011 the woik we Iicifve pei'forin£d, Ive liave noi ideiiiified any 11l4?Iciial unc¢rtaiiili¢s IE14tino lo cveiils or coiiditions that, tndiviJiidlly oi. Collectively, laY Last sigLiificanl doubt OLI Ihe cliJiily'8 ability to coiilillue Ils a going coiicen) foi. a peiio(l of al lea51 tii'tlvc Inoiiih5 froin ivlieii Ilie liiiai)cial stalellieiitb are auihorisknd foi. Oiir respoiTrsibilili¢s and tbe responsibilities of the ttwstees Miiih I'especl to going coiicerii are des¢rib¢d iii ilie relevaiil sectiotLS OF Ilus i'eport. Otliei. inlot'lliAtion Tlie Iru51ees al'e responsible for the otlier infoiinalion. The other iiilonnation COLnprises the infOrallOn included in tl)e aillLu&I r¢porl, other tlian tli¢ fLnaNcial $taltmenls and oiir auditor's I'eporl tlieie.i)n. Our opÉiiioii on the finc111cial siateiiieEilq does iiol cover Ilie oihei. Éiifoiiiii?lioii and, excepl 10 tlie extellL oilieiivise expli¢itly slaled iii oui- rei)orl, w¢ cl(> not eKPI'ess any fonryi of assiii-£inoe concliision thereon. Oiii. responiibiliry is 10 read Il)e oihei. iiilorniation aiid, li? doiiig so, Goiisidei. whethei. the othei. infonn31ioT] is Inatti'ially iIiconsislenl willi tlie fLiiancial sialenieiils or our luiowledge obiaiiied in tlie collrse OF the aiidii or Diheiivise appears lo be ii?aleriall)' iiiisstatvd. If ive idenlily sutih Liialerial incoiibisleiicies oi. app8reiit maieii31 l1SsiaienieIils, we aio L-equired to deieniiÉne ivhethei tliis V¢S ii%e to Inatti'iÉkl inisslateineiil lli tl)e flliaiityial Staten)eiils Ilieinselves. If, bl£ sed on Ilie Kvoi-lc we have pei.Èonned, we coiicliide Iliat Iliere is a Inaleiial Inisslaleinenl of thii tsrl)ei' inforinAlion we are L'equired to report tliat fact. We have noihin(r 10 report in tbis reg.d. lattei-s on ivhich sve Are required ID report by eyception We liave iiolliing lo I'epoit in respecl of the following iiiaiiers iii relation to wliiLli Ibe Cliarilies IAc¢ounts and Repoi"tsl tiegulalions ?008 I.ll1re lis lo tEport to you if, in oiii. 01)inion'. Pugé 9
Walcetield Cliai"itie,8' Ilonies
INDLFL.NDE.NT .4UDITOllS' fiEPORT T'n"rFIE, I'RUS1"EI, (IF WlillriE.LD C.'HAEIITIES'
I-IOMES
riiiaiicial stc1teiiieLiis,' or
tlie cliariiy Iic1S not Ictypl biiificieiil &cLoiiiiliiigJ recoi'ds. oi.
the fin&ii¢ial Slateiiieiits aLe iioi in &'elient iviil) the accoLinlitig i-ecords diid re¥15. oi.
we have riot i-eceived Lill Ihb inforLI)2tion aiicl explRikl¢ lions ive i-equii'$ foi- our audii.
Rebponsil)itilies ol. ti'iistee,
As Cxplnuied iiioi'e fvlly iii the Tiiislee8' Respuii8ibililie% ,8ialeinenl sci oiil oil plloe 8, the Iruslees al'e
vielv, aDd fcii. suLlTr inlei'iiAI Loiili'ol as tlit Ii-Iisl¢cs del¢iii)Iiic IS Ti¢ccssai'y lo ¢iiaLil¢ tlie pirpai-alioll of liiidiiciiil
Ili i)IEPaL'jDts Il)e fiiiaiici¢il sl¥Pteni¢nts, the truslees al'e rehiPOlI.siblL for L1sseq)iiig rhe cliai'ily's abilily lo conliniie
d% a goiiig LoiiCei-, (liscli)siiig, Ili ai?plic
Wakel-ield Chc11'ities' Honies
tNDEPE,NDENT AUDITORf ' REPORT"I'O TFIE TRU,81'EE OF. WAI&FIELD CI4ARITIES'
HolE,£
Ive (IisGUSS£(I Ihe Lhaiily's policies 811(1
i)I'oeedLlI'es loi. c.()Ji)pliaiice Kvitli I[15 and IgLi112t[lls witli ill¢inbei-b of iiianarweiiieiil responsible fi)r
coiniiliHnLe.
DLlljnts the platuiiiig iiieeliiig willi Ehe audit tcaiii, Ilie ¥ngatreinenl Pclrtiiei. dieiv atlèiilioii lo tlie key llFeJs
vlTrieh iiiiglil iiivolve iion-¢oiiipliaiice iviili laws aiid rcgLilaiions oi. fraiid. Ive enquii'ed ot- Inriiiaganent
wli¢ihei- tl)ey ivei-e awai'e of aiiy inslaiices of Iioii-coIiipli&2nce iyith l&ws aiiil regiilalions or taiowledge of any
cttial, siispected oi. Jlleged frciud. Ive addi-essed Ilie risk of li&iud tlii'oLigli iiiaiitifTeinei)l oveii-ide ofcoiili'ols by
tgsling tlie appiopiialeiiess of jOillMl¢ I culiies aiid idei)lityiiig cllly si&Jiiificaiil li-allsaGlioiis that wei'e ULiusual Dr
outside Ilie liaLLnal c-OUI'sty of l?iisiiie.qs. Ive i?ss¢ss¢d ivhcihei. ju(loeinenls Illcide iii nialciiig a¢c4)LintiiilT esliniJtes
gaTrt iise ro 8 possible iii(licalioii of Inaiiao&nent l)ias. At Ilie coiiipletlOTI stage of tlie aiidil, tlie eTrgageineiil
Pill-liier s revieiv iiityliided eIlIrI11 111ai Ilie tealli 11c1 d api)roaclied IlieiT wuik iviih appi'opiialc pi'ofessioiial
SLei)ticisiii aiid tliiis Ihe capacily ID ideiilify LlOiI-¢oinpliuTrce iviili Iclivs and Iruiilaiions aiid ti'aud.
Tli¢i'e Icre iiiliei-eiil liiiiitlElions iii Ilie aiidil i)IDcedui'es desciibed Above and tlie fiirtlier reinoved noii_
Il)e lesi likely ive ivould becoine Iiwai'e of il. Also, the iisk of iiol detevling J Lnitei'iltl iiii88tateiiienl dLie lo
fi'a11d is Iij(shei' I112)11 Ilie risk of not detectig oiic rcsuliino h-oi)i errol.. as fraud inay iiivolFe delibeiale
oiieLabiieiit Liy, For exaniple, loi-geiy or iiilciitional Tnisrepiesenllc tioIis, oi. tlii'oiigh ¢ollu8ion.
A li11lhei' (lesci'iplii)ii of oiii. i-¢spoJisibililies is available QLI tli¢ Fiiiiincial Reijorliiig Cnuncil'5 NiiebJlte al..
oiisibililits. Tliis desiriplion foiiiis pait ot oui aiidilOi-'S i'epoJ-
Il%e of oiii. i'epoi't
Tliib I'epui'l is 1111&cle solely 10 the cliai'ity's liii%iees, 8b ¢1 body, iii a¢coi'danc¢ with Pait 4 of 111e Charilieb
IAcioLinis aiid Reports) Re¥Lilatioiis ?008. Oiir aiidil WOLL hab beeii iii)d¢rtaken so thal we IniJts il sl8le lo Ihe
11'118lees Iliose iiiattei-% Ive ai'kn reqiiii'ed to state lo Ilieni iii an aiidilol s repoit and For iio oil)ei' purpose. To rlie
riill¢sl exlenl periiiitted by law, w¢ (ID not accei)l ai.
| Notes | Unrestricted | Endowed | Restricted | Total funds | Total funds | ||
|---|---|---|---|---|---|---|---|
| funds | funds | funds | 2021 | 2020 | |||
| £ | £ | £ | £ | £ | |||
| Income from: | |||||||
| Charitable activities | l | 88,895 | 88,895 | 95,670 | |||
| Investments | 2 | 13,068 | 178 | 13,246 | 1.5,271 | ||
| Other Income | 3,200 | 3,200 | 2,500 | ||||
| Total incoming resources | 105,163 | 178 | 105,341 | 113,441 | |||
| Expenditure on: | |||||||
| Raising funds | 3 | 5,908 | 5,908 | 5,699 | |||
| Charitable activities | 4 | 110,194 | 110,194 | 100,522 | |||
| .! | 116,102 | 116,102 | 106,221 | ||||
| Net (outgoing) incoming funds from | |||||||
| operations before investment | gains | (10,939) | 178 | (10,761) | 7,220 | ||
| Net gains/(losses) on investments | 10 | 155,111 | 9,410 | (77) | 164,444 | (41,374) | |
| Net movement in funds | 144,172 | 9,410 | 101 | 153,683 | (34,154) | ||
| Reconciliation of funds: | |||||||
| Fund balances brought forward | |||||||
| at 1 April 2020 | 2,075,569 | 38,628 | 6,244 | 2,120,441 | 2,114,185 | ||
| Fund balances carried forward | |||||||
| at 31 March 2021 | 14,15,16 | 2,219,741 | 48,038 | 6,345 | 2,274,124 | 2,119,157 |
Walcefield Cliai-itieLJ BALANCE SHFET 31 M¢ll'¢li ?O?I Hoiiies Nol&s 2091 20ti0 FIXED ASSETS TJiigiblt assets 1,101,687 Invbslineiil Pi'opei'lies 80,000 80.000 ivesliiieiits 10 922,552 748,868 TOTAL FtXED ASSETS 2,104,239 1,961,479 CURRENT ASSE'I'S Debtors Cash al baith aiid in hand 11,966 211,279 9,566 189.859 223,?4S 19?,425 CREDITORS.. Amoiiiits falliiig diie withiii oiie yeai. 13 153,3601 (33,4631 NET CUIiiiENT ASSETS 169,885 158,962 TOTAL Asscfs LESS CURRETrrr LIABILrriES 2.274,124 2,1?0.441 CATrITAL AND RESERVES Restiietecl Feserve Eiidoiv¢d funds DeSi]a1ed Irserves ReveLiue I'eseive ReTrmluaiion reserve 14 6,345 48,038 137,799 1,807,172 274,770 38,628 12? 7jl 1,8?9,307 123,511 16 16 2,274,124 2,1 ?0.£141 AFv0d and athl for issue by tbe Tmrtee on28 September 2021 and swd on its behalfty. Massey C.liair ol. Wakefiel Mr S Chainberlfqin Cbair ol Goveimors harilies, 14oiiies c.0iniiiittee P<iLve 13
Wcilcetield Clicll Ities, HoiTies AC'cnLtNTING POLIC'IES foL' Ilie yec11- ell(led 31 Mairli ?0? I BA.%IS OF ACC'OUNTING Tliese llliaiicial st4leiiiLn15 hatrL beeii prei)di£d uiidei. Ilie IiiitOll¢i?I cost ¢oiiveiilioii: <18 iilDilili¢(I by rlie LicIILe apiiliLiiblL jii Ilie Uk aiid RLI)iiblic of l.I'Elaii(l (bl£S 1021 lelTeclive l Jaiiiiai), Ilie UK nii(l Roi)Iil)li¢ nf Ii'el.?Iid (FR,8 1021 aiid Ilie Cliaiilic5 ALI ?01 I. Wukefitsld C'liaLilies' Hoilles Ineels 11)e defiiiitioii of a piiblic beiJeFIl eLltity Iindei. FIL% 102. GOING CONCC.RN The fin<incial stlllemenls Iiave beeli prepill'ed on fj going conceiii bA518. Tlie Tii]sl¢e IiJ8 Collstclered hoiv the Chai'ity will iiieel tlie Lhii IlenrFes pi'esented by rhe ciiri'eiit ¢conoi?iic c1iim8le, incliicliiig tlie iinpacl of Ilie Covid-l g p£indeLIIIC, diid liave coiicliidecl Ili£il Ili¢&' will iiol lJavc sigiiifiL<ll)l iiiii)aGI. Ibey IiELi'e caniccl out a deiailed review of Ihty Cliarity'& i-eboiiiLeb iii¢ludiiig tlie a(lequaLy of ivoi-king capiliil loi. tlie next twelve "ri-IlBlee is S<ilisfiTrd Ilial tlie C1111 rity hlc s siifficient cash floiv$ 10 nieel 51.% liabililiLs £1% they fall (Iiie tor at le851 line Ye11- from the (lte of appi-ovil of Ilie5e fiiiuiici<11 staleiiieiits. ENC.OtvtF., liictsiiic iei)E-esei)IS Illi?Illt¢n&llLe coiilribiilion> and service Qliarges I'tLeivable iiel of losses aiisiiig froiii Wd6aiiLiei. C'.re.dil is lakeE] lor I'eiital U?Cole 1¢ S it falls (lue. EYPENDITLIIIE r.xi)eIidilur aCLI'llttd as sooii as a li2ibility IS COllSideie(I pi'obable. hi'ecovei'able Vi£ t 18 incliided wirh Ilie itein of expeiidituré to wtiiclTr li relates. SOCLAL FIOUSJNG GLWT SociLII 14oiisiiig Ciraiils ISHGI were MIL cle by Ilie Hoiisiiig Coi'poi?lioii ¥lnd iv¢re iililised lo reduce the anioiiiil of moitgcige loaii in i-&specl of Lhe Aliiislii)iise5 to th¢ alliouiit ivhiLli il Ivas Lsliiiialfd Could bs 8¢iviced by Il)e nel ic LUIII1E l in¢(11)ie of Ilie schciiie, "file 7¢ LTioiiiII ot. SH(J ivas calcLJl£iled on Ilie quiilifyiiio costs of the sclitynie iji AcLoi'dance willi inbliuolions issued froo) liiiie to lime by the Hoiiiuio Corpoi'alion. The grants ivei'e Pl£ ICI dii'eknt lo Ilie lttnding ttiiihoriry ancl ivtyre reflected iii the financi&l 8ratenienls i)f Ilie cli&i'ity OLily ivlien Ilie payiueKI IVir.s Inade aiid iTrkL lllLlI'tUJ1( oe loan i'ediT.Led. DEPRECIATION djoi- coiiiponeiils aLe ti'eRled as sepai'£1ble 11ssets nd d¢pr¢¢ialioii is yi'ovidecl to TIle ot'l Ille cost 01. 211 reliivant t¢inoible lixe(l a3blS, ILSS esiiinaled rtsldu1 viilue, over Ilieir e.xpeLted LlS¢tiil etsonoiiiic livi%% or tlie live8 ol. the slrii¢ture to hleh diey are rel¢?ted, iFblioFler, ai the fplloiiiing anJ]iial rateb.. 50 yeAIs 50 }'eai3 2) years 25 yeai? l? years 15 years 15 years Roots Heiilinrw syslei F'ii'w Alnni)s Kitclieiis BailLrooiiis Air eoiitliliiiniiig PÉi&7e 14
Walcetield Cliai'ilies, Hoiiies A(.'COUNTINii l)OLICIE,S toi. the yttai- Lii(led 31 N4artili ?0? I INVESTMENTS GeiieLiI iiivestiiients air 5talcd al Iiiarkel valiie. IDveslinents lield for the pi'ovisiiiii foi. eYts'aoi.di118iy I'epairs consist of coir incoiiie sl)ai'es whiLh are staled al inai-kel value al tlie halance sl]et dilte. Investiiieiil illLOlllt is recouiused 111) a i'eceipls basis. CYCLICAL MAINTENANCE FUND Tlie cycliLal Inaiiilenance fLiiid I'ecognises Ihe C.liaiily's obligatii)iis lo iiiaiiilaiii ils piop¢rties in accordc1nce with tlie plaiined p1.0.1nn1e of WOLICS. EXTRAORDINAR Y REPAIR FLfpJD Tlie Pilvooe ol Ilie eklraordiiiaiy I'epaii. fund li lo allow lor the fiLtuie exiiaoL(li11lr ly I'epaii-, iinpi'ovein¢nl and itbiiildiiig OF tli¢ lionies. IiELIEI.' tN NEED iiESERVE As pi'ovide(l in IIIL Iyvlied sclieine ol. fvla170eLnenI claieL1 ? l Fel)iuary 9%, after Ilie propti. disL11arge of Charities, coiniiiilinciits, rhe Goveriioi3 shall api)ly tlie incoiiie of the C'.li{?rity 10 ilie i-elief OF iiced ol iysideiils in tl)e district of Wakefitld. RESTRICTED FLfND Tlie i'esliicted fuiid - Mrs Poiter's 15 designed lo malce grants iii tht oidei. of £200 pei. year to poor pei%ons recovtiillg Fi'oiii illiicss or acuiclenl. ENDONVED fLIMD Thi5 fund was bequeatlied by Dr Cal¥b crOe1. Iii 1838 foi. Ilie fouiidiiig ol. Alii)shoiises for Dissenlei's froiii tlie Cliiiicli of Eiigland. Piioe l.?
Walcpl ield C.'iidrit.ieb' Floiiies N()TE.S TO "I'I-IE fiNAN CLLX L STA"fEfvlENTS foi. Ilie 5'u£ll' LiidL(131 fwlai'ili ?0? qC'C)ME fROM C14ARtTABLE AC'Ttvi"riF,S 2021 2090 9i,C)70 tfWE.STMF.IfF fNLCIMF. )021 ?U2U Gi'05s iiivestineNI iiicoine B2L nk iiitei'esl re7Vll1e 14,.5.58 713 13,246 EKtIENDrruRE ON RAlglNCY FLINr)s 2021 2020 tnvestiiieiil IllaLli¥ ¥¢iiieIil Cees 5,908 5,Ci99 }>ogE 10
walcel.ield C,liai-ities' Hoiiie,£ NOTES TO I-HE FINANC'IAL ST'ATEMENTS foi. Ili¢ yehi. eiTrded .1 l MaL'vlI ?0? I 4 ANALYS18 OF. EIPFNDITURE ON C.'HARIT ABLE tKCTfdiTIES PI'<pvE.flllil Iifsocinl Ji(JliJiFig Giiiiils & Totnl ?o?o R(.PalF'.s & M¢TiiL7gÈ' S'¥FI LLLJI IKrtinleiioiiL' Jiienl Otli¥J- I stiiles Costs 26,()?9 26,629 15,884 qervice LoiTrli-c1clb aiid ?0,937 8,62) 2,2?0 9,981 11,633 2,0?3 8,625 2,220 surdnc Depi'ecialion.. 33,478 i3,418 2.171 414 Ivalei. cliarge Pioperty bliaige 200 Otliei. Opei'atints I xi)en5e% Audil and abcoiiiitaiioy Adiiiini81i'ulive expeiises 3,822 4,840 3,162 3,7?2 4,840 486 716 4,840 3,169 PiiJ)tiiig aiid advertisin Legdl ad professioniil BatLk interest aiid Llii¢ ro Relief iIi Jieecl L.'lirisliiia5 git Bad Debts Other I,o?o 137 I,o?u 137 128 825 87) 872 ?36 831 1,083 831 1,083 11,824 67,845 26,629 3.071 825 110,194 100,522 Tiie Homes coinpiise 17 a'elli]gS al Home Street: 4 dwelliiigs al l-lolinlield AvenLie, 6 dwellings al Vesifield Road and 4 d¥'t[l11gS al G¢urb7e Siieel, all lviiliin the Cily of IVak¢field. All 'all¢S aiid doiiatioiis 'ert iiiaole 10 benLficiariLs In Ilie triirilieranL¢ of Ilie Charity's objeLIiv¢b. ANALYSIS OF EXPENr)riiNIiE ON CFLAEUTABLE ACTtVlTIES GOerartee c0515 illLludecl iii oiliei. opei'aiing ¢xpenses'.- 2021 Audit and Actyounlincy Legal aiid Pi-olessioiial cli8rgeE 3.722 I,o?o 4,84? 4.9?8 P¢iLve 17
Wakefield Charities’ Homes
NOTES TO THE FINANCIAL STATEMENTS
for the year ended 31 March 2021
| 5 | NET INCOME FOR THE YEAR | 2021 | 2020 |
|---|---|---|---|
| £ | £ | ||
| The surplus for the year is stated after charging: | |||
| Depreciation on tangible fixed assets | 33,478 | 33,278 | |
| Auditors’ remuneration | 3,822 | 3,722 |
6 ANALYSIS OF STAFF COSTS AND STAFF NUMBERS –
There were no employees in the current or prior year.
7 GOVERNORS’ AND KEY PERSONNEL EMOLUMENTS
The Governors and Clerk to the Governors received no emoluments in the year (2020 - Nil).
None of the Trustees (or any persons connected with them) received any remuneration during the year. Travel and subsistence expenses amounting to £nil were reimbursed to the Trustees (2020: £nil).
8 TAXATION
Wakefield Charities' Homes is a registered charity and is exempt from any liability to taxation on its charitable income and capital gains.
9 FIXED ASSETS – FREEHOLD HOUSING PROPERTIES
| £ | |
|---|---|
| Cost | |
| At 31 March 2020 | 1,389,404 |
| Additions | 2,554 |
| _ | |
| At 31 March 2021 | 1,391,958 |
| Accumulated depreciation | |
| At 31 March 2020 | 256,793 |
| Charge for the year | 33,478 |
| _ | |
| At 31 March 2021 | 290,271 |
| Net book values | |
| At 31 March 2021 | 1,101,687 |
| At 31 March 2020 | 1,132,611 |
At 31 March 2021 the charity owned and managed 31 units (2020: 31 units) of housing accommodation.
Page 18
Wakefield Charities’ Homes NOTES TO THE FINANCIAL STATEMENTS for the year ended 31 March 2021
EXPENDITURE ON WORKS TO EXISTING PROPERTIES
| EXPENDITURE ON WORKS TO EXISTING PROPERTIES | ||
|---|---|---|
Improvement works capitalised Components capitalised Amounts charged to the income and expenditure account INVESTMENT PROPERTIES Valuation At 31 March 2020 and 31 March 2021 Net book value At 31 March 2020 and 31 March 2021 |
2021 £ - 2,554 26,629 29,183 |
2020 £ - 16,584 25,884 |
| 42,468 |
||
| £ 80,000 |
||
| 80,000 |
Investment properties represent a parcel of land held on Westfield Road which is rented out by the Charity. The land was valued at £80,000 in 2016 by Hodsons Estate Agents Ltd. The Trustee believes that there has been no significant change in the value of the land at 31 March 2021 and therefore the value remains unchanged in these financial statements.
| 10 FIXED ASSETS INVESTMENTS Unrestricted Restricted Listed investments at market value £ £ At 1 April 2020 704,810 5,430 Additions 232,647 - Disposals ( 223,407) - Increase/(Decrease) in market value in year 155,111 (77) At 31 March 2021 869,161 5,353 |
Endowed Total £ £ 38,628 748,868 - 232,647 - ( 223,407) 9,410 164,444 48,038 922,552 |
|---|---|
The historical cost of listed investments is £632,455 (2020: £601,678).
| Analysis of Investments Unrestricted Restricted Endowed £ £ £ Government stock 85,846 - - Charity deposits 228,020 5,353 48,038 Listed investments 555,295 - - 869,161 5,353 48,038 |
Total £ 85,846 281,411 555,295 922,552 |
|---|---|
Page 19
WakLfield ChLlrities I-Ic)iiie8 Ni)TES .10 Tl-lr.. ri NIINQ IAI_ %TATFNIlEN"I'S l-01- Ilie }iecll' eiiifjLd .31 Mai'Lli -)021 Lotr. iiicoiiii uiiils LOIF aLciiiriulalioii Iiiiits. Ull Ciilis l j1l,090 67,70? S-1,237 i4,C)56 Iiiguai.d Fuiids 83,6.)Ci TheLe are tLO Lnown Tiialei'i&il I'esliiclioii% iYl3icli ini£lif <ipply oli Ilie iY1¢ Iis(ilioii ol. Ihese Lllllts. I I DEBTORS 2021 2020 11,966 9.$6() 11,966 9,166 I? CAbH A'F BANIC AND IN FIAND 20?0 134.,616 76,659 110,4J6 72,419 Incniiie ttcioiini- ciii'i'eLIt Casli in Iiaiid 211?79 182,859 13 CREDITORS.. Aiiioiiiils lalliiiu diic Iviiliiii one yeai. ?020 Oihei- crediloi's 53,360 33,463 53.360 33,463
Walce,f.'ield C'liai"itierL) Hoiiies NOTCQ -ro TI-TF. F.IN,4NC'IAL 8TATFMF.NTS fi'ii. Ilie- yeiii. elided 31 Mai'cli ?0? I IJ RES"I'RicfED fuNDS Mi's Poiter s Fiiiid 2021 2020 Balaiice al 31 Mairli 2020 Icoiiiuig Il&boiiiLes 6,244 178 (771 6,042 BalaiiLe al I l Mil I'cli 2071 6,244 Mrs Poi'iei s (uiid 1% designe(I lo In8ke gi7nls in Ilie order of £?00 pei. year lo poor peFsoiis recowciiiig Iroin illiiess or accideiil. 15 ENDOlVL-.l) fuNDS Dr CLlleb C.ri)iTrilier 2020 B<ilaiice ai J l fvlaiLlI ?O?O InvtyslineIil gciiiJllloss) 38,()28 9,410 18,639 Bal£111ce al 31 Marcli 20?1 48,038 38,618 Beqiiwdihed l?y Di. Caleb Ci-okvtlier iii 18)8 foi. tlie toiindiiig of Alii)sliouses foi- Dissonteis Eroiii tlie C.lTrui'cli of Engliqlicl. 16 ANAIISIS OF NqOVEMEFKr tN UNiiE,STRICTLD FUNDS BAlance 31 bicoining Resoiirces March rtsDLiILes e.xpeiided ljivestinenl glc ins Traiisfers Balc1nce 31 Maicli 2021 2020 Designated Fuiids Exli'd-oi'dinaiy I'¢paitS Cy¢liL81 maiiileiiaiiLe Reliel'iii iieecl reberve fj5,6?U S.f.679 4) 37 14,09?) 18,24UI 3,85? 68,871 8,0110 2.000 Disignaia Funds 122,751 8? 112,33?) 3,85? 23,446 137,799 Genei'lc I lund evalualiuii I'e8eive 1,8?9,J07 IOi,081 (103,7701 {?3.4461 1,807,172 274,770 lil,259 2,075,-i69 105,16) (116,1021 2,219.741 Page ?1
W¢ilcelielcl C.liai'ities' Hoiiies I O-I"ES TO"fHL, FINANIC'IAL S1"ATr,1£NTs loi. the yeai. ciicled 31 ila1.¢]1 -2021 C.oiiii)arnlive tigures foi- I'eai- FiidiiiiT .3 I fvLii'¢h ?020 13a111 lice I Ai)i-jl ?019 liicoiniiig Resoiir('.¢s I'esoiilS eipeiicltd Tiaiislei'b Icll'cll 20)0 Dest}81¢d Fuiids C.Klia-oi'diiitti-y i'epftii's -18,423 56.750 l 0,1?7 229 { ?,44?1 187 1 9,2581 87)) {51 1 5851 8,000 2,000 55,620 i5.679 Relie( iii need I'esernf¢ De6igiioled Fuiid.s 125,500 416 112,5711 9,415 1?2,751 tseiieial fLiiid RE11£110Il i'esei'iie 1,80i,185 171),029 11?,844 193,6461 4,7?4 (41,3791 { 14,139) 1,819,107 ? 109.914 141,3,%41 2,075,569 DesignTritted FLiiids di't l)eld foi. Ilie Èollijiviiig puiyoses.. Cxtra-oi'dinairy pairS furid - lo allow for fiitui¢ e.xliu-L)l1I)8i.Y EepÈii', uiiprovemenl aiid rebuildiiig of tlie homLS. Diiiiiig Ilie YVAI. 1111(ler review All aiiiounl 01 £2,5)4 all belllo ¢OIDI)oneiiis cayilalised as vas IL-nIisferL'ed oiil of Iliis liiiid aiid iiito tlie Genei'iil FLILid (less a yeai'ly Cyclical mAiiilenLince fiind to i)rovide for tlio%e iteiiis of orilinar}' InaiiitetLaiice aiid repMu- i)I' tl)e biiines oFtlie Cliic I'ity ivliiLlI recLlI' al inlrvqU¢lIt iiiteLThI(I1s. The Tnistee l)as con5id¢i-ed fiittire iiiajoi. e.xpen(lilure on Ihe aliiishoiise builduigs as ivell a$ tlie co.%ls of tkne plutuied ¢ontiiiuoiii pi'ogLciiiiin¢ of i'eftii.l)islunsnt aiid reclecoration, And apijropriale <iIiioiiiiI Ilas b¢en ti'aiistcii'ed froiii Reveniie Reseivcs to trhe Exts'a-ordiiiaiy R¢paii's Fiiiid oi. the c.yclical MAiiitenai)ce Fund lo allow lor Ihib expeiidittire. Reliel iii neknd Itserve Inils deiiSYIIL led foi. Ihc IElief eEther genei'ally nr iiidividiially of pei'solls resident the diili'icl ol WaLefield who al'e iIi coiiditioiis of Iieed, hals[lip or disli-ess. I"Iie Ii'dnsfei. I'oiii Rf vtiiue Reserves is qel gliglitly abov¢ Il)¢ niiniiiiiiin lev¥1 as reqiiired IlllLler the Chai'ily's Scli*iie of MaiiageinLlll. Revaluation ieserve- tiinils iei)I'eseiiliiig Ilie iiiiiEalistd gaiLlS 011 urnreslriited investiii¢iit assels. Piige ??
Wakefield Cliai"ities' Hoines NOTES TO THE FtNANCtAL STA TBMENTS foi- the yeai. ended 31 March 2091 17 ANALI'SIS OF NEf ASSETS BEFWEEN FUNDS Revenue re$ve Revaluatioll Designated resetve fijnds EEJdowed Resl¢ted ds reserve Total Tangible assets InvestlTients Cash at bank and iii hand Othei. nel current liabilities 1.181.687 i74,726 1.181,687 922,55? 274,770 19.665 48.03S i,3)3 92,153 118.134 992 211.279 (41.394) 141,3941 Balance at 31 March 2021 1,807.172 274.770 137,799 48,038 6,345 2,274,124 18 RELATE, D PARTY TRANSACTIONS Und¢r the Scheme of Managenienl of Wakefield CItli1* Homas, Ihe Tnjslee ol the cliarity is Wakefield GraDlar School Foundation. In these circuinstances Wakefield Grammar Scbool FoundArion is regarded as a related party of this charity. Diiring the year ended 31 Match 2021 athninistration services have beell provided by Wakefield Gl"alrtar School FoLindalion on an arm's leDgth basis, with tLianag¢Jueni charges of £4.840 payabl¢ by Wak¢field Cbarities Hom&% {?020". £4,840). Wakefield chariti, Homes renls out land at Wcstfield Road to be used os a sports field by Wak¢field GraiTllnar School Foundaiion on an arn's lenuth basis al w) arUal charge lo the Foundation of £2,5(K>. Ai tlie yeai. end there were amounts outstattding due finm Wakefield Charities. 10 Waketield Grammar School Foullda(ion of £33,175 (?020_. £18.646). Page ?3
Wcllcefielcl Cliai".ilies' Hoiiies, NOTES TO TI-IF. fiiN.ANCIAL sTATE1[N1',% tLlI- Il'le yL1c r eii(IL(I .1 l M(l['tyli ?0? I 19 C:OMPAIIA-l-IV I,'IC.TU111-'S B Y FLtND I'YPI Ye<11' eii(lecl i l M¢libli 2020 UnrLslriGl¥il Ciiiiloived ResliiLled ftiiids fiinds "rotil tLiiidi 2020 IIieoiiie froiii.. C.harit1£ Ille aLliviliLS IIivEsliiienl% Oilier liTrcuint 95,C)71) 95,670 ?,50Q I'otl¢ l ji?£oniillg t'esoiii'ces 13,260 113,441 I xpeii(lilure oji: Rl£ Isiiig ftiiids Cliaiilable activities 5.699 100,522 .$,699 100,521 106,2)1 106,?21 op¢ralioii6 1)Lloi'e invesliiieiil ¥ains 7,039 Ncl gaiiis 011 iiivestmciits (41,3,541 141,3741 Net nioveffji'Trt in fiinds (34,3451 202 (34,1541 lieeonciltatioi) of fiin(Is'. Fund Bt11allces biuiighi foThvard at 1 2,109,914 Apiil 2019 6.042 2,154,595 Fulld balances Lal'rie(I foi-lvai'd al 2,075,569 31 fvlnrcl) 2020 38,628 6,244 ? 120,441 Page ?4
Walieticld C'liai-itie8' Hoiiies rNCOME & E,KPENDII"UIIL, AC'C'OLtNT foi- Ilie yeai. cii(le(131 Miirul) 20?1 2021 ?o?o tNC.'OME laiiitellc11?ce Lonlribiilion$ SeiiJic¢ cliai'ges receivable Less.. losses 2L i-isiiig Fron) vacaiicies 74,06? 22,4?8 {7,5)L il ?2,.SlQ 18?61 9),670 Oiliei. Incoiiie 2,-500 Toial hlLoiiie 98,170 EXPENDITUIiE Maiiaoeiii¢iil ¢xpenses Reijaii'i aiid iiiainieIiaIice SLrvic¥ ciisls Oiliei- COst.s'. Piiiillllo ,%lalioiieiry an(1 adN'erlising Suiidry B&iil( cliui'tres Iiivestillenl Maii£iDei'%' cliar(Tes Leal aiid Pi'oFtSSIOIIAI cliai'ges Reliet iii ne¢d Chri&lmaè gifts B?4 d Debis 26,629 67,84.5 716 23ti 128 1.0,83 5,908 I,o?u 8?5 87) 872 TI)TAL EXPENDITURE 116,102 106,221 OPERATtNG {DEFICITI FOR Tl-lb YEAR 124,OQ71 (8,Oi11 O'I'FtER INCOlE Gross inve>in1eiit inuoiiie Bank. iiilei'e¥l r¢eeivable 14,518 713 NET IOUTGOINCTI,'tNCOkltNG FUNDS 110,7611 7,2 ?0 Tliib paLTe dues Iiot fomi PLlrl of thL Stattitory finuncial statements, Pagé ))
Wakefield Charities’ Homes
FIVE YEAR FINANCIAL SUMMARY for the year ended 31 March 2021
| 2021 | 2020 | 2019 | 2018 | 2017 £ 91,546 48,643 29,317 3,379 3,168 - 5,943 90,450 1,096 18,307 - 19,403 1,490 96,326 117,219 5,862 32,942 227,479 1,703,34 148,425 2,118,102 |
|
|---|---|---|---|---|---|
| NET INCOME OPERATING COSTS Services Management Day to day maintenance Cyclical maintenance Extraordinary maintenance Other costs OPERATING (DEFICIT) / SURPLUS Interest receivable and other income Interest payable (DEFICIT) / SURPLUS FOR THE YEAR Realised (deficit) / surplus on investments Unrealised surplus/(deficit) on investment TOTAL SURPLUSES / (DEFICITS) CAPITAL AND RESERVES Restricted Reserve Endowed funds Designated reserves Revenue reserve Revaluation reserve |
£ 92,095 67,845 11,824 14,297 8,240 4,092 9,804 116,102 (24,007) 13,246 - (10,761) 33,930 130,514 153,683 6,345 48,038 137,799 1,807,172 274,770 2,274,124 |
£ 98,170 61,557 9,048 14,184 9,258 2,442 9,732 106,221 ( 8,051) 15,271 - 7,220 4,609 ( 45,983) ( 34,154) 6,244 38,628 122,751 1,829,307 123,511 2,120,441 |
£ 90,284 53,932 13,999 15,231 9,831 9,534 6,856 112,658 ( 19,099) 14,430 - ( 4,669) 17,619 27,460 40,410 6,042 38,639 125,500 1,805,385 179,029 2,154,595 |
£ 92,751 53,117 27,340 9,763 6,025 11,821 7,659 115,725 ( 22,974) 18,081 - ( 4,893) ( 1,380) 2,356 ( 3,917) 5,926 34,294 171,566 1,755,872 146,527 2,114,185 |
This page does not form part of the statutory financial statements.
Page 26