2023-03-31-accounts

Charity registration number 221526

CRANFORD COTTAGE HOMES

ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

CRANFORD COTTAGE HOMES

LEGAL AND ADMINISTRATIVE INFORMATION

Trustees

Stan Streather Father Michael Gill

Charity number Independent examiner

221526 Azets Elizabeth House 13-19 London Road Newbury Berkshire United Kingdom RG14 1JL

CRANFORD COTTAGE HOMES

CONTENTS

	Page
Trustees' report	1 - 2
Independent examiner's report	3
Statement of financial activities	4
Balance sheet	5
Notes to the financial statements	6 - 12

CRANFORD COTTAGE HOMES

TRUSTEES' REPORT FOR THE YEAR ENDED 31 MARCH 2023

The trustees present their annual report and financial statements for the year ended 31 March 2023.

The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the charity's governing document, the Charities Act 2011 and "Accounting and Reporting by Charities: 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 (FRS 102) (effective 1 January 2019)".

Objectives and activities

The charity's objects are:

• Provide almhouses for the poor aged persons with a preference given to persons who have been inhabitants of the area of the former parish of Cranford for not less than twenty years preceding appointment.

• Provide almhouse accommodation for independent living, the warden lives on site to provide emergency care.

• Offer accommodation to new residents following relocation of existing residents to nursing homes when unable to any longer look after themselves.

• Ongoing care of existing residents.

• Maintain and upgrade residences and grounds as required.

There has been no change in these during the year.

The trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the charity should undertake.

Achievements and performance

During the year there have been the following achievements:

1. Offered accommodation to new residents following relocation of existing residents to nursing homes when unable to any longer look after themselves.

2. Ongoing care of existing residents.

3. Maintained and upgraded residences and grounds as required.

Financial review

It is the policy of the charity that unrestricted funds which have not been designated for a specific use should be maintained at a level equivalent to between three and six month’s expenditure. The trustees consider that reserves at this level will ensure that, in the event of a significant drop in funding, they will be able to continue the charity’s current activities while consideration is given to ways in which additional funds may be raised. This level of reserves has been maintained throughout the year.

The trustees have assessed the major risks to which the charity is exposed, and are satisfied that systems are in place to mitigate exposure to the major risks.

Structure, governance and management

The charity is controlled by it's governing document, a deed of trust and constitutes an unincorporated charity.

The trustees who served during the year and up to the date of signature of the financial statements were: Stan Streather

Father Michael Gill

The charity is effected by 3 trustees (including a Chair) nominated by Trustees from the local community.

• 1 -

CRANFORD COThAGE HOMES TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023 Rector of Cranford Ph trad[1KJn￿ tK4ds Ihe p)ts(Mi of Chalmn. OtherTrust888 are awKdnte(J by exthJ Twste88 Irom th8 kKal comninity. Clerk to the Trustees d8ab vlth the adm1ThStrat￿ of Crnrrford Collaggs Hom88. Two trustees ￿MInated from London 8￿h of H(wn81fAV aThJ London Bwh of Hilllngdon are respor61bb for the policie8 and PTo¢edur88 adopted tho iTrJuction and trninry of trusleas. The management conwarby d8als day lo doy malntonaThx. and oJ19¢1k)ns of rnnts & I￿ wardenl caretsker lfves on SUppl￿r paym•nt pollcy Tha chBrity$ ￿rrent pollcy cont•mhvJ the payment of tradg cred￿0T5 ￿ to fdltrw the CBI'¥ Prompl Pa￿rts Code Icow'es are available from the CBI, Centre ￿nt. 103 New Oxford Str88t. London WC1A 1DUI. The chwtys ujrrent t￿ICY the paymont oflr credkor8 Is tri.. • setde tha t8rn￿ ol payment SUP￿.8￿S when agreeiTrJ Ihe tsmis of each transaction.. 8n8ure that supthrs arg made 8waTe of the tern￿ of payment by Ir￿￿$￿)n of thg r91gvanl tern￿ In ￿ntract￿,. and ' pay in accord8nc8 wlth ts compan￿8 uxtr8du818nd oth•r W ￿lu￿nb. The Trusl86s' report Was approved by th8 8owd of Trusla86. Stan Streat￿r Father Dats.. s.!￿ . taa￿￿..2013.

CRANFORD corrAGE HOMES INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF CRANFORD COThAGE HOMES I report lo Ihe trustees on my examin8tion ol the financial statements of Cranlord Cottage Homes (the charity) for the year ended 31 March 2023. Responslbllltlès and basls vf rèport As the trustees of the charity you are responsiwt for the prepardlion of the financial slalèments in accordance wrth Ihe requiremènts of the Ch8rits"esAcl 2011 (the 2011 Act). I report in respect ol my exarnination of the charitys financial statements Carried out under section 145 of the 2011 Act. In carying out my examination I have followed all the appllcable Directions yiven by the Charity Commission under section 14515Mbl of the 2011 A¢t. Indepèndent èxamlnerfs statèmènt Your attention is drawn to the fact that the charity has prepared finanual statements in a¢cordance with Accounting and Rèptrrting by Charitie$ preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Irèland IFRS 1021 in pref8rence to the Acwunting and Repcffting by Charitie5'. Statement of Re¢ommendgd Pra￿1￿ issuèd on 1 April 2005 Ythlch is referred lo in the extant regulations bul has now b¥gn withdrawn. l understand that this has been dono in ordef for financF81 statements to provsdg a twe and lair view in accordancg with Generally Ac(wted Accounting Practice effective for reporting peri￿1$ beginning on or after 1 Janu8ry 2015. I have ￿Mpleted my ex8mination. I confirm that no matters have ￿rne to my attention in connection with the examin8b.on giving mg cause to bèlteve that in any mateiial respe¢l'. accounting re￿rdS We￿ not kept in respect of the charity 85 required by section 130 of the 2011 Ad., or the financial statements do not accord with those records.. or the financial statements do not comply vnth the applicable requirements conceming the form and content of accounts sel out in the Charities (Accounis and Reptsrtsl Regulats'ons 2008 other than any requlrement that the accounts 9ive a true and fair view which is not a matter eonsidered as part of an Independent examination. I have no concems and h8Vg come across no other matters in Connection wsth the examination to which attention should be drawn in this report in order to enable a proper understanding of the financial slalements to be roaehed. Elizabeth House 13-19 London Road Newbury Berkshire RG14 1JL United Kingdom D8tad. Q.l.-..P/..-.plo2f .

CRANFORD COTTAGE HOMES

STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 MARCH 2023

		Unrestricted Unrestricted	Unrestricted Unrestricted
		funds	funds
		2023	2022
	Notes	£	£
Income from:
Charitable activities	2	106,061	79,315
Investments	3	12	-
Total income		106,073	79,315
Expenditure on:
Charitable activities	4	117,833	94,026
Net gains/(losses) on investments	8	108	2,232
Net movement in funds		(11,652)	(12,479)
Fund balances at 1 April 2022		129,821	142,300
Fund balances at 31 March 2023		118,169	129,821

The statement of financial activities includes all gains and losses recognised in the year.

All income and expenditure derive from continuing activities.

• 4 -

CRANFORD COThAGE HOMES BALANCE SHEET ASAT31 MARCH 2023 2022 Flx•d a88•ts T8ngible 888ets Investments 229.195 9.736 229.195 9.628 10 238,931 Currnnt as8•1s 238,823 11 Cash al bank arKI in harKI 15,366 3.224 6,709 13.314 18. Cf•dltorn: amounts falllng due wlthln one ￿•r 13 (14,3071 16,3701 Net curr8nt Illabllrtiesya￿¢ts 19931 12,220 Total a•s•l• IM• curr•nt Ilabllltl•• 237.938 251.043 Crndltorn.. amounts f•lllng du• •ft•r moro than on• y•ar 14 (119,789} (121.2221 118,169 129,821 Incom• fund¥ Unr88tdthJ fimd8. gw¢r81 118.169 129.821 118,169 129,821 Thè fin ments were opwoved by the Tru8tees cm 31..I•th￿2ozj . St2n Slroatkr Tru•t•• Falhg Trustéo

CRANFORD COTTAGE HOMES

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

1 Accounting policies

Charity information

Cranford Cottage Homes is a registered charity in England and Wales, The charity address is 46 The Avenue, Wraysbury, Staines-upon-Thames, TW19 5HA.

1.1 Accounting convention

The financial statements have been prepared in accordance with the charity's governing document, the Charities Act 2011, FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the Charities SORP "Accounting and Reporting by Charities: 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 (FRS 102)" (effective 1 January 2019). The charity is a Public Benefit Entity as defined by FRS 102.

The charity has taken advantage of the provisions in the SORP for charities not to prepare a Statement of Cash Flows.

The financial statements have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a true and fair view. This departure has involved following the Statement of Recommended Practice for charities applying FRS 102 rather than the version of the Statement of Recommended Practice which is referred to in the Regulations but which has since been withdrawn.

The financial statements are prepared in sterling, which is the functional currency of the charity.

Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2 Going concern

At the time of approving the financial statements, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus the trustees continue to adopt the going concern basis of accounting in preparing the financial statements.

1.3 Charitable funds

Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives.

1.4 Income

Income is recognised when the charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.

1.5 Expenditure

Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably.

• 6 -

CRANFORD COTTAGE HOMES

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023

1 Accounting policies

(Continued)

1.6 Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Freehold land and buildings

Not depreciated

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in the statement of financial activities.

1.7 Fixed asset investments

Fixed asset investments are initially measured at transaction price excluding transaction costs, and are subsequently measured at fair value at each reporting date. Changes in fair value are recognised in net income/(expenditure) for the year. Transaction costs are expensed as incurred.

1.8 Cash and cash equivalents

Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.9 Financial instruments

The charity has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the charity's balance sheet when the charity becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Basic financial liabilities

Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

• 7 -

CRANFORD COTTAGE HOMES

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023

1 Accounting policies

(Continued)

Derecognition of financial liabilities

Financial liabilities are derecognised when the charity’s contractual obligations expire or are discharged or cancelled.

1.10 Employee benefits

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Termination benefits are recognised immediately as an expense when the charity is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

2 Charitable activities

	2023	2022
	£	£
Charitable rental income	106,061	79,315

3 Investments

Unrestricted funds general 2023 £ Interest receivable 12 Charitable activities 2023 £ Day to day maintenance 55,799 Services 42,606 98,405 Share of governance costs (see note 5) 19,428 117,833	Total 2022 £ -
	2022 £ 31,915 43,010
	74,925 19,101
	94,026

4 Charitable activities

• 8 -

CRANFORD COTTAGE HOMES

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023

5 Support costs

Support costs Governance costs £ £ Management fees - 4,209 Insurance - 2,116 Mortgage interest - 11,603 Accountancy - 1,500 - 19,428 Analysed between Charitable activities - 19,428	2023Support costs Governance costs £ £ £ 4,209 - 4,209 2,116 - 1,971 11,603 - 11,721 1,500 - 1,200 19,428 - 19,101 19,428 - 19,101	2022 Basis of allocation £ 4,209 Governance 1,971 Governance 11,721 Governance 1,200 Governance 19,101 19,101

• 9 -

CRANFORD COTTAGE HOMES

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023

6 Trustees

None of the trustees (or any persons connected with them) received any remuneration or benefits from the charity during the year.

7 Employees

The average monthly number of employees during the year was:

2023	2022
Number	Number
1	1

There were no employees whose annual remuneration was more than £60,000.

8 Net gains/(losses) on investments

	Unrestricted	Unrestricted
	funds	funds
	general	general
	2023	2022
	£	£
Revaluation of investments	108	2,232
Tangible fixed assets
	Freehold land	and buildings
		£
Cost
At 1 April 2022		229,195
At 31 March 2023		229,195
Carrying amount
At 31 March 2023		229,195
At 31 March 2022		229,195

9 Tangible fixed assets

10 Fixed asset investments

• 10 -

CRANFORD COTTAGE HOMES

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2023

10 Fixed asset investments Cost or valuation At 1 April 2022 Valuation changes At 31 March 2023 Carrying amount At 31 March 2023 At 31 March 2022 11 Debtors Amounts falling due within one year: Other debtors 12 Loans and overdrafts Other loans Payable within one year Payable after one year 13 Creditors: amounts falling due within one year Borrowings Other creditors Accruals and deferred income	(Continued) Unlisted investments £ 9,628 108 9,736 9,736 9,628 2023 2022 £ £ 6,605 15,366 2023 2022 £ £ 121,132 122,464 1,363 1,242 119,769 121,222 2023 2022 £ £ 1,363 1,242 11,444 2,128 1,500 3,000 14,307 6,370

• 11 -

CRANFORD COTTAGE HOMES

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2023

14 Creditors: amounts falling due after more than one year Borrowings 15 Related party transactions	2023 £ 119,769	2022 £ 121,222

There were no disclosable related party transactions during the year (2022 - none).

• 12 -

CHARITY COMMISSIO FOR ENGLAND AND WALE Receipts and payments accounts CC16a frnm 01fi)412022 To 31103r2023 Section A Receipts and payments Unro8trl¢tsd Rest￿tted lund¥ Endowment lund• T4>tal fun Last y•ttr loth• m•nrwt r•blt£ ￿T•StE toth• e to th• n••r••t£ A1 RK•lpts Rent Irom chaMl8td6 .462 Bank intwe¥t 10.000 12 12 Sub ¢otal(Gmss incoma for AR) 70.474 YO,474 A2 AM•t and In¥Mtm•nt Ml••. (Me tbl•l. C••h In MaG Sub totsl Tot•1 r•c•lpts 70.474 •nt• s4.055 Sub tstai A4 Awt and In¥￿￿Dent ureh•M•. ••• t4bl• Sub lotal Ilet of rVcdpt￿{pYn￿ntr) A5 Transfers t*tween funds A6 Cash funds la8t year end Cash funds this year end 3.225 ££££ 3.225 6.709 CCXX R1 ac£ounts ISSI 301f212023

Section B Statement of assets and liabilities at the end of the period ilnrnstriet•d Rostrlct•d lund• Endowmgnt fund5 to baMt£ Categories Detai to ngargste B1 ea8h funds 8.709 Unro•trict•d R•strl¢t•d fund• nd8 to M•rttt£ Endowment funds Details Fund to wfrlch Currontvalu• nil 22D.19S Details Colt l¢)ptknill 137.475 83 Invo8tm•nl a￿•ts 726 Fund Currwrtv•l Oetal C¢•¢Iopkn￿1 84 A•8•ts r•tsln•d fr>r th• ¢harlty'8 own u•0 Fund to whkh Arnount (hJ• Whpn du• Details BB Ll•bllltS8• 121.132 byone ortmy trwtees on b8haNofal1 the tr￿¥ Date of roval Swjnalure Print Name IL CCXX R2 accounts ISS) 3011212023

Trustees’ Annual Report for the period

From 01.04.22 To 31.3.23

Charity name: Cranford Cottage Homes

Charity registration number: 221526

Objectives and Activities

	SORP reference
Summary of the purposes of the charity as set out in its governing document	Para 1.17	Almhouses for the poor aged persons with a preference given to persons who have been inhabitants of the area of the former parish of Cranford for not less than twenty years preceding appointment.
Summary of the main activities in relation to those purposes for the public benefit, in particular, the activities, projects or services identified in the accounts.	Para 1.17 and 1.19	Provide almhouse accommodation for independent living. Warden lives on site to provide emergency care. Offered accommodation to new residents following relocation of existing residents to nursing homes when unable to any longer look after themselves. Ongoing care of existing residents. Maintain and upgrade residences and grounds as required.
Statement confirming whether the trustees have had regard to the guidance issued by the Charity Commission on public benefit	Para 1.18	The Trustees confirm that they have had regard to the guidance issued by the Charity Commission on public benefit.

Additional information (optional) You may choose to include further statements where relevant about:

	SORP reference
Policy on grant making	Para 1.38
Policy on social investment including program related investment	Para 1.38
Contribution made by volunteers	Para 1.38

3

Other

Achievements and Performance

	SORP reference
Summary of the main achievements of the charity, identifying the difference the charity’s work has made to the circumstances of its beneficiaries and any wider benefits to society as a whole.	Para 1.20	Offered accommodation to new residents following relocation of existing residents to nursing homes when unable to any longer look after themselves. Ongoing care of existing residents. Maintain and upgrade residences and grounds as required.

Additional information (optional) You may choose to include further statements where relevant about:

Achievements against objectives set	Para 1.41
Performance of fundraising activities against objectives set	Para 1.41
Investment performance against objectives	Para 1.41
Other

4

Financial Review

Financial Review
Review of the charity’s financial position at the end of the period	Para 1.21	The charity made a loss this year however the reserves are still adequate to maintain the financial position going forward.
Statement explaining the policy for holding reserves stating why they are held	Para 1.22	To keep the charity functioning and ensure properties are maintained in good order.
Amount of reserves held	Para 1.22
Reasons for holding zero reserves	Para 1.22
Details of fund materially in deficit	Para 1.24	None
Explanation of any uncertainties about the charity continuing as a going concern	Para 1.23

Additional information (optional)

You may choose to include further statements where relevant about: Rents are the main source of income The charity’s principal sources of funds (including Para 1.47 any fundraising) Interest from investments for emergency repair fund and cyclical maintenance Investment policy and objectives including any Para 1.46 social investment policy adopted A description of the principal Para 1.46 risks facing the charity Other

5

Structure, Governance and Management

Description of charity’s trusts:
Type of governing document (trust deed, royal charter)	Para 1.25	Scheme of 13.6.1983
How is the charity constituted? (e.g unincorporated association, CIO)	Para 1.25	Trust Administered by Trustees
Trustee selection methods including details of any constitutional provisions e.g. election to post or name of any person or body entitled to appoint one or more trustees	Para 1.25	Nominated by Trustees from the local community

Additional information (optional)

You may choose to include further statements where relevant about:

Policies and procedures adopted for the induction and training of trustees	Para 1.51	Two trustees nominated from London Borough of Hounslow and London Borough of Hillingdon
The charity’s organisational structure and any wider network with which the charity works	Para 1.51	Rector of Cranford Parish traditionally holds the position of Chairman Other Trustees appointed by Existing Trustees from local community Clerk to the Trustees deals with the administration of Cranford Cottages Homes
Relationship with any related parties	Para 1.51	Warden/caretaker lives on site Management company deals with day to day maintenance, repairs and collections of rents
Other

Reference and Administrative details

Charity name	Cranford Cottage Homes
Other name the charity uses
Registered charity number	221526
Charity’s principal address	46 The Avenue Wraysbury Staines-upon-Thames TW19 5HA

6

Names of the charity trustees who manage the charity

1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20	Trustee name	Office (if any)	Dates acted if not for whole **year **	Name of person (or body) entitled to appoint trustee (ifany)
	Rev Michael John Gill	Chairman		Trustee
	Mr StanleyStreather	Vice Chairman		Trustee

– Corporate trustees names of the directors at the date the report was approved

Director name NONE

Name of trustees holding title to property belonging to the charity

Trustee name	Dates acted if not for whole year
NONE

7

Funds held as custodian trustees on behalf of others

Description of the assets held in this capacity

Name and objects of the charity on whose behalf the assets are held and how this falls within the custodian charity’s objects

Details of arrangements for safe custody and segregation of such assets from the charity’s own assets

Additional information (optional)

Names and addresses of advisers (Optional information)

Names and addresses of advisers (Optional information)	Names and addresses of advisers (Optional information)	Names and addresses of advisers (Optional information)
Type of adviser Name Address
Building and Maintenance	HML Shaw	First Floor, 9-11 The Quadrant, Richmond, Surrey
		TW9 1BP

Name of chief executive or names of senior staff members (Optional information)

Ms Sarah Legister

Exemptions from disclosure

Reason for non-disclosure of key personnel details

Other optional information

8

Declarations The trustees declare that they have approvéd the trustees. report above. Signed on behalf of tho charity's trustees Slgnature(s} Full name(s) Position (eg Secretary, Chalr. otc) ICMAEL 3t)H￿l GILL CMALRHANJ ILC Qh4 31* 2D23