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Henry, Duke of Cleveland Charity
Registered charity No. 221407
Annual report for the year ending 31** December 2022
The Trustees present their report for the year ending 31% December 2022.
The Trustees of the Henry, Duke of Cleveland Charity during 2022 and appointing bodies where appropriate were:
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| Lord Barnard (Chairperson) | Raby Estates. Ex-officio Trustee. |
|---|---|
| Mr D. Peake | Raby Estates. Ex-officio Trustee. |
| Revd Canon Eileen Harrop | Church ofStMary the Virgin, Staindrop, County Durham. |
| Ex-officio Trustee. | |
| MrJB Poole |
Co-optive Trustee. Fiveyearterm. |
| MrERChicken | Co-optiveTrustee.Fiveyearterm. |
The object of the Charity is to provide housing for deserving persons of good character aged 60 years or over within the vicinity of Staindrop, County Durham. The charity has 12 properties. The administration of the Charity is carried out by the Clerk to the Trustees who receives an annual remuneration.
Under the Charity Commission Scheme (governing document) the Trustees may establish a Cyclical Maintenance Fund for the purpose of providing for items of ordinary maintenance and repair for the almshouses as may occur at infrequent but regular intervals such as internal and external decoration and professional fees. The Trustees have also established an Extraordinary Repair Fund to provide for future major expenditure such as extraordinary repair maintenance and rebuilding of the almshouses. These funds are invested in income and accumulation shares with the M&G Charity Multi Asset Fund and the COIF Charities Deposit Fund.
The Charity has a general income/expenditure (Community Account) with Barclays Bank at 31 High Row, Darlington DL3 7QS.
The Charities Independent Examiners are Addison and Co, 91 Galgate, Barnard Castle, — County Durham, DL12 8ES. \ZNN \ ew On the behalf of the Trustees Mr Kevin Allen, Clerk to the Trustees.
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18" October 2023.
Independent Examiner’s Report on the Accounts
Report to the trustees/‘members of Henry, Duke of Cleveland Charity
Registered Charity Number 221407
On accounts for the yearended 31.12.22
Respective responsibilities of | As the charity’s trustees you are responsible for the preparation of the trustees and examiner accounts; you consider that the audit requirement of section 144 of the Charities Act 2011 (the Act) does not apply. It is my responsibility to state, on the basis of procedures specified in the General Directions given by the Charity Commissioners under section 145(5)(b) of the Act, whether particular matters have come to my attention.
Basis of independent examiner’s My examination was carried out in accordance with the General Directions report given by the Charity Commissioners. 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 you as trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently I do not express an audit opinion on the view given by the accounts.
Independent examiner’s statement
In connection with my examination, no matter has come to my attention.
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(1) which gives me reasonable cause to believe that in any material respect the requirements
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e to keep accounting records in accordance with section 130 of the Act, and
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e to prepare accounts which accord with the accounting records and to comply with the accounting requirements of the Act
have not been met; or
- (2) to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.
Signed ot fAbccy
Date
(13 OcToset Zor &
Name DAVID AdDISon
Relevant professional qualification |Member of the Institute of Chartered Accounts in England & Wales or body (if any)
Address Addison & Co, 91 Galgate, Barnard Castle, Co Durham
HENRY, DUKE OF CLEVELAND BALANCE SHEET
YEAR TO 31 DECEMBER 2022
| Unrestricted Restricted |
Restricted | |||
|---|---|---|---|---|
| Fund Fund |
Fund | Total Total |
||
| General Cyclical |
Extraordinary | 2022 2021 |
||
| £ 2 |
£ | 2 £ |
||
| ‘FIXEDASSETS | ||||
| Land&buildings Investments Total fixed assets |
11,402.34 5,107.76 49,493.65 336,007.17 a Ee 2)=S20 16,510.10 49,493.65 336,007.17 en eS |
11,402.34 11,402.34 390,608.58 355,473.31 eS eee 402,010.92 366,875.65 Se eee |
||
| CURRENTASSETS | ||||
| Debtors/prepayments Cash Charities DepositFund Cash in hand Totalcurrentassets |
2,067.14 45,209.24 -18,594.18 21,969.36 17.09 0.00 pe 47,293.47 3,375.18 ee |
-5,528.00 es -5,528.00 EO |
2,067.14 1,896.35 21,087.06 45,771.90 21,969.36 11,848.51 17.09 0.00 eee 45,140.65 59,516.76 ee 2I |
|
| CURRENT LIABILITIES | ||||
| Receipt inadvance Creditors/accruals |
0.00 | 0.00 0.00 |
||
| Amountsdue<1year Total current liabilities |
787.27 eee eee 787.27 0.00 0.00 ee |
787.27 1,531.27 mn eed he ee 787.27 1,531.27 See et ees |
||
| TOTALASSETS LESSCURRENT LIABILITIES | 63,016.30 52,868.83 |
330,479.17 | 446,364.30 424,861.14 |
|
| Creditors | ||||
| Amounts due> 1year NETASSETS |
Pee SS ee 63,016.30 52,868.83 330,479.17 eeeEe |
0.00 0.00 ee ee 446,364.30 424,861.14 SSS = |
||
| CAPITAL FUND | ||||
| Unrestricted Fund | ||||
| General Restricted Fund |
63,016.30 | 63,016.30 117,310.60 |
||
| Cyclical Extraordinary TOTALFUNDS |
52,868.83 ar 63,016.30 52,868.83 ii |
330,479.17 ey 330,479.17 es |
52,868.83 . 9,842.64 330,479.17 297,707.90 aren)Pl A ee Sl ho 446,364.30 424861.14 ey |
Signed by TWO TRUSTEES on behalf of all TRUSTEES
Date:Lord Barnard Koy hard al . io™ Aur 2923.
MrJ B Poole Weo. oe 13" OtA 2023.
HENRY, DUKE OF CLEVELAND INCOME AND EXPENDITURE ACCOUNT YEAR TO 31 DECEMBER 2022
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|---|---|---|---|---|---|---|---|---|
|Unrestricted|Restricted|Restricted|
|Fund|Fund|Fund|Total|Total|
|General|Cyclical|Extraordinary|2022|2021|
|INCOME|£|£|£|te|2|
|Contributions from|residents|31,340.00|31,340.00|29,160.00|
|Investment|income|
|Dividend income shares|335.48|2,930.94|3,266.42|2,463.27|
|Dividend|accumulation|shares|ATE 27/|17 771.27|13,611.99|
|Charities|deposit fund|120.85|120.85|1.42|
|Total|.|.|SL|
|:|incoming resources|31,675.48|3,051.79|a|eee|alee?|52,498.54|45,236.68|
|ponent|ee|ee|fe|mete)|
|EXPENDITURE|
|Direct Charitable|Expenditure|
|Routine maintenance|5,334.43|5,334.43|5,521.83|
|Cyclical/extra-ordinary|repairs|15,025.60|0.00|15,025.60|6,942.00|
|Water rate,|council|tax etc|3,248.75|3,248.75|2,967.24|
|Insurance|1,952.81|1,952.81|1,848.07|
|Warden|service|279.76|279.76|271.44|
|Sundry expenses|420.20|420.20|97.00|
|National|Association|of Almshouses|
|su|bscription|382.00|382.00|427.84|
|Mortgage interest|0.00|0.00|0.00|
|Management &|administration|
|Remuneration|of Clerk|3,499.92|3,499.92|3,324.98|
|Miscellaneous|petty cash|107.91|107.91|197.47|
|Independent Examiners fees|744.00|744.00|780.00|
|Total|pee|ee|eeee|ee|
|resources expended|15,969.78|15,025.60|0.00|30,995.38|22,577.87|
|ee|eeee|
|Net incoming resources before transfers|15,705.70|-11,973.81|1777127|21,503.16|22,858.81|
|Transfers|-70,000.00|55,000.00|15,000.00|0.00|
|Total funds brought forward|117,310.60|9,842.64|297,707.90|424,861.14|402,002.33|
|eee|SII|seeBUS Re|
|TOTAL FUNDS CARRIED FORWARD|63,046.30|52,868.83|330,479.17|446,364.30|424,861.14|
|‘|a|ee|OU AIFF|ee|eee|
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HENRY, DUKE OF CLEVELAND
NOTES TO THE ACCOUNTS
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;
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YEAR TO 31 DECEMBER 2022
1. PRINCIPAL ACCOUNTING POLICIES
The Charity is governed by a Scheme of the Charity Commissioners. These accounts have been prepared in accordance with applicable accounting standard and Accounting and Reporting by Charities — Statement of Recommended Practice FRS 102.
a) The accounts are prepared on the historical cost basis.
b) Housing Land and Buildings.
The only real property owned by the Charity is a block of 12 Almshouses constructed in the second half of the 19" Century. No accurate record of their cost is now available, and the Balance Sheet included only the cost of the improvements carried out since 1985, funded by grants and mortgage loans from the Housing Corporation and from the Charity’s own resources. Since the property is maintained in a good state of repair the Trustees are of the opinion that it is not appropriate to provide for depreciation thereof.
c) Housing Association Grant
The grant, shown as a deduction from the cost ofthe improvements carried out since 1985, is repayable in certain circumstances, particularly following sale of the property. The Trustees do not intend to sell any part of the property and do not anticipate that the grant will become repayable.
2. FIXED ASSETS, FREEHOLD AND BUILDINGS
| 2022 | 2021 | |
|---|---|---|
| £ | £ | |
| Balance brought forward | 277,447.74 | 277,447.74 |
| Additions | ||
| HousingAssociation Grant | 266,045.40 | 266,045.40 |
| Disposals | ||
| Balancecarriedforward | 11,402.34 | 11,402.34 |
HENRY, DUKE OF CLEVELAND
NOTES TO THE ACCOUNTS (CONTINUED) YEAR TO 31 DECEMBER 2022
3. FIXED ASSETS, INVESTMENT INCOME SHARES
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|---|---|---|---|---|---|---|---|
|2022|2021|
|£|£|
|At valuation|at 5|February|1976,|with|subsequent|additions|at cost.|
|Common|Investment|Fund,|Income Shares|
|At beginning of year|43,825.41|21,253.41|
|Additions during the year|10,776.00|22,572.00|
|At end of year|54,601.41|43,825.41|
|Market value|84,790.47|76,798.90|
|9585 shares|- General|Fund|5,107.76|5,107.76|
|48744 shares|- Cyclical|Maintenance Fund|16,145.65|16,145.65|
|25926.515 shares|- Cyclical|Maintenance|Fund|22,572.00|22,572.00|
|11759.058 shares|Cyclical|Maintenance|Fund|10,776.00|
|54,601.41|43,825.41|
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4. FIXED ASSETS, INVESTMENT ACCUMULATION SHARES
At valuation at 5 February 1976 with subsequent additions at cost. National Association of Almshouses Common Investment Fund Accumulation Shares.
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|---|---|---|---|---|
|2022|2021|
|£|£|
|At beginning of year|4515.293|311,647.90|284,095.91|
|Additions|during the year|62.039|6,588.00|13,940.00|
|Accumulation income added during year|17,771.27|13,611.99|
|At end|of year|4577.332|336,007.17|311,647.90|
|Market value|483,049.97|472,766.98|
|5.|DEBTORS AND|PREPAYMENTS|
|2022|2021|
|Amounts falling due within|one year|£|£|
|Debtors and prepayments|2,067.14|1,896.35|
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HENRY, DUKE OF CLEVELAND ‘NOTES TO THE ACCOUNTS (CONTINUED) YEAR TO 31 DECEMBER 2022
6. CREDITORS AND ACCRUALS
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,
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|---|---|---|---|---|
|2022|2021|
|Amount|falling due within|one year|e|£|
|Creditors & Accruals|787.27|1,531.27|
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Amounts falling due after more than one year.
Loans on mortgage secured by a charge on the Charity’s housing land and buildings repayable by equal instalments of principal and interest, the final instalments falling due March 2019.
7. RESTRICTED FUNDS
Extraordinary Repairs Fund — Restricted Income Fund
This is a reserve fund for major expenditure and is invested in accumulation shares. It was set up for the purpose of providing for the extraordinary repair, improvement or rebuilding of the Almshouses ofthe Charity.
Cyclical Maintenance Fund — Restricted Income Fund
This fund is retained by the Trustees to meet items of ordinary maintenance and repair ofthe Almshouses as occurring at infrequent intervals, e.g. internal and external redecoration and the cost ofprofessional fees in respect of Quinquennial Inspections. It is invested in the Charities Deposit Fund and Income shares.
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|---|---|---|---|
|FUND|EXTRA|
|NAME|ORDINARY|CYCLICAL|
|£|£|
|Incoming Resources|17,771.27|3,051.79|
|Expenditure|0.00|15,025.60|
|Gains and losses|(net movements)|17,771.27|-11,973.81|
|Opening balance|297,707.90|9,842.64|
|Transfer from|General Fund|15,000.00|45,000.00|
|Closing balance|330,479.17|42,868.83|
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Transfers from the General Fund to the Extraordinary Fund for the purchase ofAccumulation shares £15,000.00 From the General Fund to the Cyclical Maintenance Fund £55,000.00
The Extraordinary Fund and Cyclical Fund were both overdrawn at the year end with the overdrawn element represented by funds held in the General Fund. Since the year end these funds have been transferred from the General Fund to the Extraordinary Fund and Cyclical Fund.
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8. CAPITAL COMMITMENTS
There were no commitments for capital expenditure at 31 December 2022.