THE PARISH CHURCH OF ST. PETER, ST. ALBANS UNITED ALMSHOUSE CHARITIES
Statement of Unaudited Accounts For the year ended 31 December 2022
**Registered Charity No. 221416**
THE PARISH CHURCH OF ST. PETER, ST. ALBANS UNITED ALMSHOUSE CHARITIES GENERAL INFORMATION For the year ended 31 December 2022
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Charity Number 221416
Address St. Peter's Church Office
St. Peter's Street
St. Albans
Hertfordshire
AL1 3HG
Bankers Charities Aid Foundation Bank Ltd
25 Kings Hill Avenue
Kings Hill
West Malling
Kent
ME19 4TA
Central Board of Finance of the Church of England
Senator House
85 Queen Victoria Street
London
EC4V 4ET
The St. Albans Diocesan Board of Finance
Holywell Lodge
41 Holywell Hill
St. Albans
Hertfordshire
AL1 1HE
Independent Examiner Moore Kingston Smith LLP
4 Victoria Square
St. Albans
Hertfordshire
AL1 3TF
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THE PARISH CHURCH OF ST. PETER, ST. ALBANS UNITED ALMSHOUSE CHARITIES TRUSTEES' REPORT For the year ended 31 December 2022
The trustees present their report and the financial statements for the year ended 31 December 2022.
## **Constitution and Objects**
The charity was established under a scheme dated 27th February 1953 and was registered as a charity on 8th August 1963, number 221416.
The charity's objects are the administration and maintenance of 6 Almshouses.
## **Trustees**
During the year the Trustees were:
Mr Mark Waller Chairman Mr Mike Langston Treasurer Mr Richard Butler Mr Peter Court Revd Mark Dearnley Ex-officio Mr Paul Dean Mrs Kate Rudlin
Further trustee appointments are made by the current trustees.
## **Activities and achievements**
Income in the year was generated from investments and maintenance contribution which amounted to £26,895 The funds were spent on the maintenance, repairs, supply of water and central heating for 6 Almshouses.
## **Reserves Policy**
The trustees aim to keep a minimum of £50,000 in unrestricted funds which has been achieved throughout the year.
## **Compliance**
The accounts comply with all current statutory requirements, the requirements of the Trust Deed and the requirements of the Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (The FRS 102 Charities SORP).
## **Public Benefit**
The Trustees have given due consideration to Charity Commission guidance on the operation of the Public Benefit requirement and identify that benefit occurs in these categories, which are all carried out for the purpose of the administration and maintenance of 6 Almshouses:
- providing accommodation for the elderly in need in the parish of St Peter's St Albans
- enabling the elderly to live independently within a safe and caring community
- alleviating pressure on the stock of social housing in St Albans by providing specific housing for the elderly in need.
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THE PARISH CHURCH OF ST. PETER, ST. ALBANS UNITED ALMSHOUSE CHARITIES
TRUSTEES' REPORT (CONTINUED)
For the year ended 31 December 2022
## **Statement of Trustees' Responsibilities**
The trustees are responsible for preparing the Trustees’ Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards.
The law applicable to charities in England & Wales requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of the affairs of the charity and of the incoming resources and application of resources of the charity for that period. In preparing these financial statements, the trustees are required to:
- select suitable accounting policies and then apply them consistently;
- observe the methods and principles in the Charities SORP;
- make judgements and estimates that are reasonable and prudent;
- state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements;
- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in operation.
The trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Charities Act 2011, the applicable Charity (Accounts and Reports) Regulations and the provisions of the trust deed. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
On behalf of the Trustees
.......................................................… **Mr. M. Langston** Treasurer Date:
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INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF UNITED ALMSHOUSE CHARITIES For the year ended 31 December 2022
I report on the accounts of the United Almshouse Charities for the year ended 31 December 2022, which comprise the Statement of Financial Activities, Balance Sheet and related notes.
## **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(2) of the Charities Act 2011 (the 2011 Act) and that an independent examination is needed.
It is my responsibility to:
- examine the accounts under section 145 of the 2011 Act;
- to follow the procedures laid down in the general Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act; and
- to state whether particular matters have come to my attention.
## **Basis of Independent Examiner's Report**
My examination was carried out in accordance with the 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 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 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 requirements:
- to keep accounting records in accordance with section 130 of the 2011 Act; and
- to prepare accounts which accord with the accounting records and comply with the accounting requirements of the 2011 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.
## **SILVIA VITIELLO FCCA Moore Kingston Smith LLP** Chartered Accountants
4 Victoria Square St. Albans Hertfordshire AL1 3TF
Date:
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## THE PARISH CHURCH OF ST. PETER, ST ALBANS UNITED ALMSHOUSE CHARITIES STATEMENT OF FINANCIAL ACTIVITIES For the year ended 31 December 2022
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2022 2021
General Revaluation Total General Revaluation Total
Funds Reserve Funds Funds Reserve Funds
£ £ £ £ £ £
Income and endowments from:
Charitable activities
Maintenance contribution 23,356 - 23,356 24,258 - 24,258
Investments
Bank interest receivable 432 - 432 15 - 15
Dividends 4,523 - 4,523 4,260 - 4,260
Total 28,311 - 28,311 28,533 - 28,533
Expenditure on:
Charitable activities
- -
Almshouse running expenses 9,333 9,333 3,556 3,556
Maintenance 38,498 - 38,498 5,137 - 5,137
Other 2 5,190 - 5,190 16,660 - 16,660
Total 53,021 - 53,021 25,353 - 25,353
- -
Net income/(expenditure) (24,710) (24,710) 3,180 3,180
Other recognised gains/(losses):
Unrealised gains/(losses) on 5 (12,354) - (12,354) 23,321 - 23,321
investments
Net Movement in Funds (37,064) - (37,064) 26,501 - 26,501
Reconciliation of funds:
Balance brought forward from 31
298,990 1,380,000 1,678,990 272,489 1,380,000 1,652,489
December 2021
Balance carried forward at 31
7 261,926 1,380,000 1,641,926 298,990 1,380,000 1,678,990
December 2022
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THE PARISH CHURCH OF ST. PETER, ST ALBANS UNITED ALMSHOUSE CHARITIES BALANCE SHEET AS AT 31 DECEMBER 2022
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Note 2022 2022 2021 2021
£ £ £ £
Fixed Assets
Tangible fixed assets 4 1,380,000 1,380,000
Investments 5 200,691 210,506
1,580,691 1,590,506
Current Assets
Trade debtors 416 -
Other debtors 6 1,107 1,007
Deposit fund 44,299 41,897
Cash at bank 16,287 46,120
62,109 89,024
Liabilities:
Other creditors 8 874 540
Net current assets 61,235 88,484
Total Net Assets 1,641,926 1,678,990
The funds of the charity
Unrestricted funds 9 1,641,926 1,678,990
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These accounts were approved by the Trustees of United Almshouse Charities on .................... and signed on their behalf:
…………………………………….
**Mr. M. Langston**
Trustee
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THE PARISH CHURCH OF ST. PETER, ST ALBANS UNITED ALMSHOUSE CHARITIES NOTES TO THE ACCOUNTS For the year ended 31 December 2022
## **1 Accounting Policies**
## **Legal form**
United Almshouse Charities is an unincorporated charity registered in England and Wales. The charity operates from St Peter's Church Office, St Peter's Street, St Albans, Hertfordshire, AL1 3HG.
- **a)** The financial statements have been prepared in accordance with the Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (The FRS 102 Charities SORP) and Charities Act 2011.
- **b)** The accounts have been prepared on a going concern basis. The Trustees believe this is an appropriate basis given the consistent level of income receivable.
- **c)** Land and buildings held on behalf of the charity for its own purposes is valued at market value. No depreciation is charged against such properties but any maintenance or improvement is written off as incurred.
- **d)** Investments are stated at market value at the balance sheet date. The net gains and losses on revaluation and disposals are charged to the Statement of Financial Activities.
- **e)** Income and expenditure is included in the accounts in the period to which it relates. There are no expenses common to all activities that require allocation between headings. **Incoming resources**
Income consists of maintenance contributions by tenants in residential properties where beneficial ownerships sits with the charity.
## **Resources expended**
The key resources expended by the charity are the costs of maintaining those properties.
- **f)** Unrestricted funds - these are funds which can be used in accordance with the charitable objects at the discretion of the trustees.
- **g)** Cash at bank and in hand - cash at bank and cash in hand includes cash and short term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.
- **h)** Financial instruments - the charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value.
- **e)** The financial statements are prepared in sterling, which is the functinal currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
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THE PARISH CHURCH OF ST. PETER, ST ALBANS UNITED ALMSHOUSE CHARITIES NOTES TO THE ACCOUNTS For the year ended 31 December 2022
|**2**
**Other costs**
Independent examination
Insurance
Subscriptions
Bank Charges
Administrative salaries recharge
Sundry
Council Tax
Bad Debt|**2022**
**£**
540
1,256
383
81
2,720
210
-
-
5,190|**2021**
**£**
572
1,179
210
96
2,289
4,403
177
7,734
16,660|
|---|---|---|
## **3 Remuneration**
The average number of employees during the year was 1 (2021: 1)
No trustee received any remuneration for their services or the reimbursement of expenses during the year
|**4**
**Tangible fixed assets**
At 1 January 2021
At 31 December 2022
**Net book value**
At 31 December 2022
At 31 December 2021
**5**
**Investments**
Market value at 1 January
Additions (dividends reinvested)
Unrealised gains / (losses)
Market value at 31 December|**2022**
**£**
210,506
2,539
(12,354)
200,691|**Freehold**
**land and**
**buildings**
**£**
1,380,000
1,380,000
1,380,000
1,380,000
**2021**
**£**
184,795
2,390
23,321
210,506|
|---|---|---|
At 31 December the following investment holdings exceeded 5% of the portfolio value:
|M&G Accumulation fund
M&G Income funds
Central Board of Finance
**6**
**Other debtors**
Prepayments and accrued income|**2022**
**£**
63,741
50,056
86,894
200,691
**2022**
**£**
1,107
1,107|**2021**
**£**
63,241
51,666
95,599
210,506
**2021**
**£**
1,007
1,007|
|---|---|---|
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THE PARISH CHURCH OF ST. PETER, ST ALBANS UNITED ALMSHOUSE CHARITIES NOTES TO THE ACCOUNTS For the year ended 31 December 2022
## **7 Analysis of movement of funds**
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Unrealised
Balance Investment Receipts Expenditure gains/(losses) Balance
01/01/2022 income 31/12/2022
£ £ £ £ £ £
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|**7**|**Analysis of movement of funds**
**Unrealised**
**Balance**
**Investment**
**Receipts**
**Expenditure gains/(losses)**
**Balance**
**01/01/2022**
**income**
**31/12/2022**
**£**
**£**
**£**
**£**
**£**
**£**|
|---|---|
||**General Funds**
298,990
4,955
23,356
(53,021)
(12,354)
261,926
**Revaluation**
1,380,000
-
-
-
-
1,380,000
**Reserve**|
||1,678,990
4,955
23,356
(53,021)
(12,354)
1,641,926|
|**8**|**Other creditors: Amounts falling due within one year**
**2022**
**2021**|
|**9**|**£**
**£**
Accruals and deferred income
874
540
Deferred income of £334 (2021: £nil) relates to rent received in advance.
**Analysis of net assets**
**Unrestricted**
**Revaluation**
**2022**
**2021**
**Funds**
**reserve**
**Total**
**Total**
Tangible fixed assets
-
1,380,000
1,380,000
1,380,000
Investments
200,691
-
200,691
210,506
Current assets
62,109
-
62,109
89,024
(874)
-
(874)
(540)
Creditors due within one year|
||Net Assets
261,926
1,380,000
1,641,926
1,678,990|
The revaluation reserve is included within unrestricted funds.
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