HthTrry. Duke of Cléveland Charfty Annual report for the year ending 31° December 2023 The Trustees present their report for the year ending 31" December 2023. The Tnjstees of the Henry. Duke of Cleveland Charity during 2023 (and appointing bodies where appropriate) were: Lord Bamard (Chairperson) Mr D. Peake Raby Estates. ExffiCI0 Trustee. Raby Estates. Ex-officio Trustee. Church of St Mary the Virgin, Staindrop, County Durham. Ex-officw) Trustee. Revd Canon Eileen Harrop Mr J. B. Poole Cwtive Trustse. Five year tenn. Cwtsve Trustee. FNe year lemi. The object of the Chanty is to provide housing for deserving persons of gcod character aged 60 years or older who are not in full-b'me employment and have a connection to Stsindrop through residency, employment or family. The chanty owns 12 terrad properties in Staindrop. The administration of the Charity is carried out by the Clerk to the Trustees who receives an annual remuneration. Mr E. R. Chicken Under the founding Charty Commission Scheme (govemirKJ d(Kument) the Tnjstees hw4e established a Cyclical Maintenance Fund for the purpose of providing for items of ordinary rna1ntenan and repair of the almshouses as may oc£ur at infrequent but regular intervals. This fund amounted to £80,411.83 on 31 ryl December 2023. The Trustees have also established an Extraordinary Repair Fund to provide for future major expenditure such as extraordinary maintenance. improvements and for the rebuilding of the almshouses. This fund amounted to £546,888.45 on 31" December 2023. These funds are invested in income and accumulation shares with the M&G Charity K4utti Asset Fund and with the CCLA COIF Charities Deposit Fund. The Charity has 8 general incomelexperKliture (Community A(£ount) ¥th Bardays Bank at 31 High Row, Darlington DL3 7QS. The Charities Independent Examiners are Addison and Co. 91 Galgate, Bamard Castle, County Durham, DL12 8ES. Mr Kevin Atlen, Clerk to the Trustees. On the behalf of the Trustees 9° October 2024 1/1
Independent Examiner's Report on the Accounts Report to tbe trustseslmembers of Henry. Duke of Cleveland Charity Regis¢ered Charity Number 221407 On Yd¢collnts lor ¢he year ended 31.12.23 Respective responsibilities of As the charity's trustees you are responsible for the preparation of th¢ trustees and examiner accounts. you consider that lh¢ audil requir¢ment of section 144 of the Charities Act 2011 (the Act) does not apply. It is my responsibility to slate, on the basis of procedures spe¢ified in the Generdl Directions given by the Charity Commissioners under section 145(5Xb) of the ACL whether particular matters have come to my attention. Basis of independent examiller's My evmination was carried out in accordance with the General Directions report given by the Charity Commissioners. An examination includes a review of the accounting ordS kept by the charity and a comparison of the accounts pr¢s¢nted 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. Th¢ proc¢dures undertaken do not provide all the evidence that would be required in an audiL and consequently I do not express an audit opinion on the ]eW given by the accounts. Independent examiner's statement In connection with my examinatioo no matter hos come to my attention. (l ) which gives me reasonable cause to believe that in any material respect the r¢quirements to keep accounting ordS in accordance with section 130 of the Act, and to prepare accounts which accord with the accounting records and to comply with the accounting requirements of the Acl have not been met. or (2) to which, in my opinioTt. attention should be drawn in order to enable a proper derstanding of the accounts to be reached. Signed Dgte i.10.24- Name D S A->-01 &qCMo*Y>) FLA. Relevant profe98ional qualifi¢a¢ion Member of th¢ Institute of Chartered Accounts in England & Wales or body (ifaDy) Address Addison & Co. 91 Gal8ate. Barnard Castle. Co Durham
HENRY, DUKE OF cLE4LAND BALANCE SHEET YEAR TO 31 DECEMBER 2023 Unrestricted Restrirted Restritted Fund Fund Fund General Cyclical Extraordinary Totsl 2023 Total 2022 FIXEDAssErs Land & buildings Investments Total fixed assets 11.402.34 5,107.76 16510.10 11.402.34 11,402.34 410,190.82 390,608.58 421593.16 402,010.92 49,493.65 355,589.41 49.493.65 355589.41 CURRENT ASSETS Debtor51prepayments Cash Charities Deposit Fund Cash in hand Totql current assets 3,934.52 55,127.02 3.934.52 22,695.67 28.020.72 19.06 54,669.97 2,067.14 21,087.06 21,969.36 17.09 45,140.65 -16,432.87 28,020.72 -15.998.48 19.06 59.080.60 11.587.85 -15,998.48 CURRENT LIABILITIES Receipt in advance Creditorslaccruals Amounts due < l year Total current Ilabllltles 816.(X) 816.¢ 816.C 787.27 816.00 787.27 TOTAL ASSETS LESS CURRENT LIABILITIES 74.774.70 61,081.50 33990.98 475.447.13 446,364.30 Creditors Amounts due> l year NET ASSETS 0.00 74.774.70 61.08150 339 590.93 475.447.13 446 364.30 CAPITAL FUND Unrestrirted Fund General Restritted Fund Cyclical Extraordinary TOTAL FUNDS 74,774.70 74.774.70 63,016.30 61,08150 61.081.50 52W.83 339,590.93 330.479.17 475.447.13 446,364.30 339,590.93 61.081.50 339,590.93 74,774.70 Signed by TWO TRUSTEES on behalf of all TRUSTEES Lord Barnard Date: MrJBP 2 0th3D2+
HENRY, DUKE OF CLEVELAND INCOME AND EXPENDITURE ACCOUNT YEAR TO 31 DECEMBER 2023 Unrestricted Restrirted Fund Fund General Cyclical Restrirted Fund Totsl 2023 Total 2022 ExtTaordinary INCOME Contributlons from resldents Investment income Dividend income shares 34259.93 34.259.93 31,340.0) 364.24 3.284.31 3.648.55 3.266.42 Dividend accumulation shares Charities deposit fund Total incoming resources 19,582.24 19.582.24 1,051.36 58,542.08 17,771.27 120.85 52,498.54 1,051.36 4,335.67 34.624.17 19,582.24 EXPÉNDITURE D1ct Charitable Expenditure Routine maintenance 5.439.88 5,439.88 5.334.43 Cyclical/extra-ordinary repairs Water rate, council tax etc Insurance Warden servlce Sundry expenses National Association of Almsh(wses subscription Housing Ombudsman 1,123.LKI 10.470.48 11,593.48 3,522.34 2.201.20 293.80 927.37 15.025.60 3,248.75 1,952.81 279.76 420.20 3522.34 2.201.20 293.80 927.37 393.txi 393.IK) 382.CKI 69.00 Management & odminlstration Remuneration of Clerk Miscellaneous petty cash 4,062.42 140.76 4,062.42 140.76 3.499.92 107.91 Independent Examlners fees Total resources expended 816. 17,865.77 816.00 744.00 1.123.CQ 10.470.48 29,459.25 30,995.38 Net incoming resources before transfers Transfer5 16,758.40 .5.ClXI. 3.212.67 s.).(] 9.111.76 29,082.83 2103.16 0.00 Total fijnds brou8ht forward 63,016.30 s268.83 330A79.17 446,364.30 424.861.14 TOTAL FUNDS CARRIED FORWARD 74,774.70 6181.50 339.5.93 475,447.13 446.364.30
HENRY, DUKE OF CLEVELAND NOTES TO THE ACCOUNTS YEAR TO 31 DECEMBER 2023 I. PRINCIPAL AcCOUTrNG POLICIES The Charity is gov¢m¢d by a Scheme of the Clwity Commissio[S. These accounts ha tten prepared in accordance with applicable accounting staNlard and AUntIng aThl ReN)rting by Clwities- Ststement of Recornmended Practice FRS 102. a) The accounts are prepared on th¢ historical eJ)st b&8] b) Housing land and Buildings. The only real prolty owned by the Clwity is a block of12 Almshouses Coted in the second half of the I Century. No accurate record of their cost is now available. and the Balance Sheet included only the Cost of the improvements carTied out sirKe 1985. fijnded by grants and rnorwge loans from the Housing CO)ratIon and from the Cl]atity's resources. Since the property is maintsined in a go(Ml state of repair the TnL8tees ar¢ of the opinion that it is not appropria to provide for depreciation ther¢of. ¢) Housing Associalion Gfant The grant. shown as a deduction from Ihe cost of the improvements carried oul since 1985. is repayabl¢ in certain circutnslanc¢s. particularly following sale of the property. The TnL8tees do intend to sell any part of the propety and do not anticipate that the wt WRII b¢come repayable. 2. FIXED ASSEfs, FREEHOLD AND BUILDINGS 2023 2022 Balance brought forward Additions Housing Association Grant Disposals Balance carried fon¥ard 277.447.74 277,447.74 266.045.40 266,045.40 11,402.34 11.402.34
HENRY, DUKE OF CLEVELAND NOTES TO THE ACCOUNTS (CONTINUED) YEAR TO 31 DECEMBER 2023 3. FIXED AssEfs, INVESTMENT INCOME SHARES 2023 2022 At valuation at 5 February 1976, with subsequent addittons at COSt. Common Investment Fund, Income Shares At beginning of year Additions during the year At end of year 54.601.41 43,825.41 10,776.00 54,601.41 54,601.41 Market value 86.240.29 84,790.47 9585 shares - General Fund 48744 shares - Cyclical Maintenance Fund 25926.515 shares- Cyclical Maintenance Fund 11759.058 shares Cycllcal Maintenance Fund 5.107.76 16.145.65 22,572. 10,776 (M) 54,601.41 5,107.76 16,145.65 22,572. 10,776.CK) 54,601.41 4. FIXED ASSETS, INVESTMENT ACCUMULATION SHARES At valuation at S February 1976 with subsequent additions at cost. National Association of Almshouses Common Investment Fund Accumulation Shares. 2023 2022 At be8innin8 of year Additions durin8 the year Accumulation incorne added durin8 year At end of year 4577.332 336,LX)7.17 311,647. 6,588.(Kl 19,582.24 17,771.27 355,589.41 336,C07.17 4577.332 Market value 513,039.27 483,049.97 5. DEBTORS AND PREPAYMENTS 2023 2022 Amounts fallln8 due vlithin one year Debtors and prepayments 3,934.52 2.067.14
HENRY, DUKE OF CLEVELAND NOTES TO THE ACCOUNTS (CONTINUED) YEAR TO 31 DECEMBER 2023 6. CREDORs AND ACCRUALS 2023 2022 Amount falling due within one year Crcdilors & Accruals 816.¢X) 787.27 Amounts falling due after rnore than one ye. Loans on mortgagc secured by a charge on thc Charity's hOing laThl and buildings reYable by equal inslalm¢nts of principal and interest. the final instslments falling due March 2019. 7. RESTRicfED FUNDS Extraordinary Repairs FuDd- Restricted tncome Fund This is a r¢serve fund for major extkn"tUre and is invested in arxurnulation share& It was set up for th¢ purwse of providing for the extraordiw repwr, improvemenl or rebuildmg of the AIn1skn of the Chan'ty. Cyclical Maintenanc¢ Fund- Rcstti¢ted Income Fund This fund is retain by the TnLStees to meet It¢ll of ordinary maintenance aThl repair of the Almshouses as occurring at infrequent intervals, ¢.g. internal and external redecoration and the cost of professional fees in respect of Quinquennial Inspections. Il is invested in the CRJarities tkposit Fund and Incom¢ shares. EKfRA ORDINARY CYCLIC4L Incoming Resourccs Expenditure 19%2.24 10,470.48 4.335.67 1.123.CQ Gains and losses (net movem¢nts) 9.111.76 3,212.67 Opening balance Transfer from Genetal Fund Closing balance 330,479.17 52.868.83 5,OLY).C 61,081.50 339,590.93 The Cyclical Fund and Extraordinary FuThl were overdrawn by £16.432.87 and £15.998.48 respEctively at th¢ year end with the overdra1 elenkent tcpr¢s¢nted by funds held in the GuKral FuThl. Since th¢ year end funds hav¢ been transferred from the General Fund to recitify the sityation.
- CAPITAL comENTs Ther¢ were no commilm¢nts for capklal eXplture at 31 Dxember 2023.