ACKifrifoSH HOMES JOHN MACKINTOSH MEMORIAL HOMES UNAUDITED FINANCIAL STATEMENTS 29 FEBRUARY 2024 CHAIUTY REGISTRATION NUMBER: 222588 STREETS SPENSER WIL50N CHARTERED ACCOUNTANT
JOHN MACKINTOSH MEMORIAL HOMES FINANCIAL STATEMENTS YEAR ENDED 29 FEBRUARY 2024 PAGE Truste¢s' annual report Indendent exaTniner's reFK)rt to the trnstees Statement of financial activities Statement of financial position Notes to the financial statements io
JOHN MACKINTOSH MEMORIAL HOMES TRUSTEES, ANNUAL REPORT YEAR ENDED 29 FEBRUARY 2024 The trustees present their report and the unaudited financial statemenls of the charity for the year ended 29 February 2024. REFERENCE AND ADMINISTRATIVE DETAILS REGISTERED CHARITY NAME John Mackinlosh Memorial Homes CHARrrY REGISTRATION NUMBER 222588 PIUNCIPAL OFFICE The Warden's House Waterhouse Homes Harrison Road Halif West Yorkshire HXI 2AZ THE TRUSTEES Lucy Artnitage - Chair Christopher A ReyTrolds John W Asquith Roger M Verity (resigned 7 September 2023) Wendy Astin Rev Canon H Barber Dr Roger W Pool H¢l¢n Rhodes {re5igned 14 June 2023) F Mike Bcrry Rob Rosborough Mark Holroyd (appointed 14 June 2023) Patsy Dorset (appointed 14 JuRe 2023) James M Walker (appointed 13 December 2023) COMPANY SECRETARY Mr G R Pickles RIBA BANKERS CAF Bank Itd 25 Kings Hill Avenue Kings Hull West Malling Kent ME194JQ INDEPENDENT EXAMINER Andrea Kennedy BFP FCA FCCA A{Fellow} Equitable House 55 Pellon L&ne Halif West Yorkshire HXI 5SP
JOHN MACKINTOSH MEMORIAL HOMES TRUSTEES, ANNUAL REPORT ( ctsHtiJwed) YEAR ENDED 29 FEBRUARY 2024 STRUCTURE. GOVERNANCE AND MANAGEMENT INTRODUCTION BY THE CHAIR OF TRUSTEES, LUCY ARLVllTAGE In my first year as Chair, l &tn pleased to introduce this report which covers the period from March 23 to February 24. A summary of the Charity's activities and our financial standing during this period is given in th¢ reports from Ihe Finance, Residents and Personnel and Pretnises sub_cotnmittees. These reports demotEstrate how we are fulfilling our charitable objectives by providing elderly people'in need" with comfortable, safe and supported a¢¢ommodation. Trustees Roger Verity and Hel¢n Rhodes Signed and thanks to them for their hard work on behalf of the charity. Roger was Chair of Finance for a number of years and deserves particular thanks for his care and attention in looking after the charity's finances. Three new trustees were appointed during this period and we warnily welcomed Michael Walker. Patsy Dorset and Mark Holroyd to the board. Thanks go to all the trustees for their time, ¢are and expertl5e. Thanks a150 go to our Scheme Managers John and Cath Giddings who are pivotal to th¢ running of the charity and do an excellent job and to George Pickles, our Clerk who was working towards his retirement during this period and handing ov¢r his responsibilities. Finally. thank you to Dr Roger Pool who retired as Chairnjan at the AGM in September 2023. He was an excellent leader of the trustee team and always approached his responsibilities with dilig¢nce and thoughtfulness. We are pleased that he remains as ihe Chair of the Residents and Personnel Committee. WHAT OF THE FUTURE? We made significant progress towards updating the Charity Scheme and at the ¢nd of this period we were ready to appoint legal r¢pr¢sentation to assist with the work of modernising our ¢harity scheme and establishing a Corporate Trust¢e model. This will be ongoing throughout the next twelve months working with Stone King who w¢ selected after a due diligence process and will ensure the charities continue to be as strong as possible as we look to the future. STRUCTURE, GOVERNANCE & MANAGEMENT The Charity is organised so that th¢ Trustees meet regularly to manage its affairs. Recruitment is by word of tnouth, advertising and networking at community events. New Trustees are given a programme of induction by the Clerk and additional training events and e-learning opportunities are available to all Trustees. All the members of the Board of Trustees give their lime voluntarily and receive no benefits from th¢ Charity. Th¢ main Board currently consists of twelve Truslees and is responsible for making all decisions. They met on four occasions during the 2019-20, and all meeiing5 were well attended. The Board is supported by sub committees which tneel quarterly or as required. They ovcr5eeing finance, premises, governance and compliance, data protection, health and saf¢ty, appoinlments of Residents and the review of the Charities Scheme. The Chairs of the suKcommitte¢s report back to the main Board.
JOHN MACKINTOSH MEMORIAL HOMES TRUSTEES, ANNUAL REPORT (¢onlinuedJ YEAR ENDED 29 FEBRUARY 2024 STRUCTURE, GOVERNANCE & MANAGEMENT (coNtinued) The Trustees follow the requirements of the 1975 Charity S¢hem¢ and also refer to the guidance conlained in the Almshouse Asso¢iation 'Siandards of Almshouse Management 2019,. It has been recommended to the Board thal they fortnally adopt the Charity Govemance Code for Small Charities. Related parties - in the furtherance of its objccts, the Charity confonns lo the standards and methods of practice of the Almshouse Association (Metnbership No.1004). OBJECTIVES AND ACTIVITIES Th¢re are Iwo charities r¢f¢rred to in the 1975 Charity Commission Scheme one called Th¢ John Mackintosh Memorial Homes, regulated by a conveyan¢e dated 16th June 1930, and the Violet MackitTrtosh Charity the income frotn which is for the maintenance of the homes. The conveyance dcscribes the land and buildings which are vested in the Charity Comtnission and are to be used for housing people aged over 60, of good character and restricted means. The Trustees continiie to actively iiivestigate ways in whi¢h the Scheme may be updated to meet the wishes of John and Violet Mackintosh in the 2 1st century and have received advice from a leading practice of lawyers specialising in charity governance. The sixteen Ma¢kinlosh Metnorial Homes continue to provide recently modernised and updated quality homes that create a strong feeling of community amongst its residents. There is a healthy demand for the accommodation and residents appear very satisfied with the individual homes. The achievements of the charity are referred to in more detail in the reviews shown below. ACHIEVEMENTS AND PERFORMANCE The achievements and perforniance are described in reviews shown below. Essentially the charity homes remain in demand, and r¢sidents express satisfaction. Income from weekly maintenance contributions supports a budget which is in line with the Almshouse Association model. Reserve5 are reasonable but not at a level which would enable rebuilding. Investment income is satisfactory and has supported the payment of donations to organisations whi¢h support those in need.
JOHN MACKINTOSH MEMORIAL HOMES TRUSTEES, ANNUAL REPORT ( CLTrNtinued) YEAR ENDED 29 FEBRUARY 2024 FINANCIAL REVtEW All trustees would like to express their thanks and appreciation to Roger Verity, who has stood down as both Trustee and Chair of Finance, for his hard and diligent work over the past few years. Income from ¢harilable activities (almshouse r¢sidents' contributions} totalled £ 99,819, an increase of 6.70/0 over the previous year. This reflects th¢ continuing ability of the charity, assist¢d by the refurbishment policy of recent years, to attract and relain resident5. This is the key source of income for the charity, n¢¢ded to support our main activity of managing the 16 dwellings and asso¢iated support to the residents. Total income of the charity increased by 5.70/0 to £ 106,729, helped by grant receipts of £ 3,514 (including £2,500 from the United Charities of Nathaniel Waterhouse) together with higher investment dividends and bank interesl of £ 3,396. Total ¢xp¢nditure on almshouse and governance costs increased by only 3.4% to £ 83.886, reflecting continuing control of all costs during the year. This, combined with th¢ increase in incotne has gen¢rat¢d a positive net income of £ 22,843. an increase of15 % on the pr¢vious year. The ¢harity enjoyed a better year regarding it5 investments, ending th¢ year with unrealised investment gains of £ 4.238 cotnpared with a loss of £ 3.654 the previous year. The Trustees continue to tnonitor the perfortnance of all investments. The investment gains coupled with the nel income surplus have resiilted in an overall surplus of £27,081, increasing both restricted and unrestri¢led reserves. The total funds Carried forward now total £136,503. This in¢rease ha5 further improved the charity's financial resilience and its ability lo maintain the key income g¢ncrating premises in good ¢ondition and so attract new residents, when vacancies arise, and retain exisling oncs in a comfortable and safe living environment. RESERVES POLICY Th¢ finan¢ial accounts have been drawn up in line with the recently updated Reserves policy document. Further work will be undertaken as part of the continuing project to consider th¢ modernisation of the Charity scheme objectives. Residents and Penonnel The R and P group met on 4 occasions during ihis period and ran one application process for new residents. The 'Wardens' job title was changed to 'Scheme Manager, to reflect their wider responsibilities. Employment contracts for the Scheme managers were finally agreed and signed. The Scheme Managers attended all meetings, provided updates and detailed reports. During this period 8 new residents moved in. New residents were universally both gral¢ful and happy with their new ac¢ommodation and the support provided. A healthy list of expressions of interest regarding future vacancies exists. Th¢ refined appointment process, including visits from George, Clerk, and John, Scheme Manager continued to function well.
JOHN MACKINTOSH MEMORIAL HOMES TRUSTEES, ANNUAL REPORT (co#ilft¥ed) YEAR ENDED 29 FEBRUARY 2024 Residents And Penonnel (eolllinuedl A newsletter produced by Schetne Managers John and Cath focussing on events taking place and other news items was distributed regularly. Following two significant events the advice lo Residents who are users of a care alarm has been strengthened to ensure ihat they are always worn or within reach. A donation of £1250 was made to the Halifax Minister as well as donations of £2000 each to the Church of the Holy Nativity Mixenden and Halifax Opportunities Trust. W¢ are very grateful to John and Carol Bassinder, retired Wardens. who have provided holiday cover for John and Cath. The Scheme Managers maintain a detailed log of out of hours calls to ensure the appropriate time is taken off in lieu. A series of social events held in the Cotnmunity Room at Waterhouse were mu¢h appreciated and included two visits from the HATY youth choir, carols with BD l Brass, fish and chips and coffee mornings. I would like to bring to all readers and Trustees notice the high standard of care and support being providcd by our Scheme Managers. Thanks must go to The Clerk and to members of the Residents and Personnel Committee for all their hard work during this period. Premises The 5ubcornmittee met on 6 occasions during the year 23124. Two of these m¢elings w¢r¢ specific discussions about the possibility of fitting solar panels on the site. The wishes of the finan¢e ¢ommittee, to try to restrict spendin8, wer¢ taken on board resulting in some planned non urgent improvemcnls being deferred. l. The refurbishment of flat 12 was cotnpleted leaving just one remaining flat to update as such time as it becomes vacant. There will also be a gradual programme of window replacements with DPC'S to other flats on the south facing side. 2. A low carbon report that had b¢en Commissioned was received and an investigation into sol panels undertaken. Thanks to Rob Rosborough for leading this, and obtaining quotations, which indicated that Mackintosh flats could be a suitable place installation but would be dependent on thc availability of grants. (This will be takcn forward in future years) 3. Work has been completed on checking all paved areas around the site, repair to the 2 sets of steps to the sunken lawn have been Completed and, redecoration was undertaken at on¢ of the cottages 4. Routine and cyclical repairs have been carried OUL as and when required, throughout the year. Significant updates to the site, in a number of areas. are planned in 202412025. PUBLIC BENEFIT Trustees endeavour to seek deserving applicants for the a¢¢omtnodation and try to accommodate people who will benefit from the security and peace of mind provided by living at Mackintosh Homes. Whilst residents contribute to their heating costs, it is at a subsidis¢d rate and fixcd for the year. No Resident need wony about Ihe cost of keeping warni in winter. The Wardens arc based at nearby Waterhouse Homes and visit the more frail or anxious residents very frequently and often on a daily basis. A A happy community is often a healthy and supportive community. Contributions to the cost of the accommodation vary from Resident to Resident - those who have been with the Charity a number of years and in older accommodation pay on an indexed basis. newer residents in re modelled flats pay an affordable rate accepted by the Housing Benefit Offi¢e.
JOHN MACKINTOSH MEMORIAL HOMES TRUSTEES, ANNUAL REPORT (eowlN4edJ YEAR ENDED 29 FEBRUARY 2024 PRINCIPLE FUNDING SOURCES The principle funding source for the charities is from the maintenance contribution received from the Almshouse, Resident5. VOLUNTEERS All the members of the Board of Trustees give their time voluntarily and receive no benefits from the Charity. Due to government pandemi¢ restrictions. for the majority of the year it has not been possible for volunteers to support the Charities. STATEMELYT OF TRUSTEES, RESPONSIBILITIES The Trustees of the Charity submit their report and independently examined financial statements for the year ending 29 February 2024 and confim) they comply with current statutory requirements. These financial Statements have been prepared in a¢cordance with Accounting and Reporting by Charities.. Statement of Recommended Practice applicable to ¢harities preparing their financial statements in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102.. Effective l Jan 2019) as d¢tail¢d in the accounting policies. The law applicable to charities in England and Wales requires the Charity Trustees to prepare financial statements for each year which give a true and fair view of the state of affairs of the charity and of the incoining resources and application of resources, of the Charity for that period. In preparing these financial statem¢nts, the trustees are required to: s¢lect suilable accounting policies and then apply them consistently. observe the methods and principles in the applicable Charities SORP; make judgements and accounting estimates that are reasonable and prudent. slate whether applicable UK Accounting Standards have been followed, subject to any material departures dis¢losed and explained in ihe financial statements; prepare the financial stalement on the going concern basis unless it is inappropriate to presume that thc charity will continue in business. The Trustees are responsible for keeping adequate accounting r¢¢ords that are sufficient to Show and explain lh¢ Charity's transactions and disclose with r¢asonabl¢ a¢¢uracy at any time the financial position of the charity and enable ihem to ensure that the financial statements comply with thc Charities Act 201 I, the appli¢able Charities (Accounts and Reports) Regulations. and the provisions of the Trust Deed. They are also responsible for safeguarding the ass¢ts of the charity and h¢n¢e for taking reasonable steps for the prevention and detection of fraud and other irregularities. The tn]stees' annual report was approved on I l December 2024 and signed on behalf of the board of trustees by.. Lucy Armitage (Chair) Trustee
JOHN MACKINTOSH MEMORIAL HOMES INDEPENDFNT EXAMINER'S REPORT TO THE TRUSTEES OF JOHIY MACKINTOSH MEMORIAL HOMES YEAR ENDED 29 FEBRUARY 2024 I report to the trustees on my examination of the finan¢ial statements of John Mackintosh Memorial Homes ('the charity,) for the year ended 29 February 2024. RESPONSIBILITIES AND BASIS OF REPORT As th¢ trustees of the charity you are responsible for the preparation of the financial statem¢nts in accordance with the requirements of the Charities A¢t 2011 ('Ihe Act,). I report in r¢spect of my examination of the Charity's financial stalements catTied out under section 145 of the 2011 Act and in carrying oul my examination I have followed all the applicable Directions given by the Charity Cotnmission under section 145{5Xb) of the Act. INDEPENDENT EXAMINER'S STATEMENT I have completed tny examination. l confim) that no material matters have come to my attention in ¢onne¢tion with the examination giving me cause to believe that in any material r¢spe¢t'. accounling records were not kept in respect of the charity as required by section 130 of the Aci; or the financial stalements do not accord with those records- or the financial statements do not comply with the applicable requirem¢nts concerning the fortn and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a 'true and fail view which is not a matter considered as part of an independent cxatninalion. I have no concerns and have come a¢ross no othcr tnatters in connection with the examination to which aitention should be drawn in this report in ordcr to enable a proper understandin8 of the a¢¢ounls lo be reached. Andrea Kennedy BFP ACA FCCA ATT(Fellow) Ind¢p¢nd¢nl Examincr Equitabl¢ House 55 Pellon Lane Halifax West Yorkshire HXI 5SP I l December 2024
JOHN MACKINTOSH MEMORIAL HOMES STATEMENT OF FINANCIAL ACTIVITIES YEAR ENDED 29 FEBRUARY 2024 2024 Unrestricted Restricted Endowment funds funds funds 2023 Total funds Total funds Note Income and endowments Donations and legacies Charitable activities Inveslment income 3,514 99,819 3,396 3,514 99,819 3J96 5,000 93,523 2,453 100,976 Total ineome 106,729 106,729 Expenditure Expendilure on charitabl¢ activities 79,886 4,000 83,886 81.160 Total expenditure 79,886 4,000 83,886 81,160 Net ineome 26,843 (4,000) 22,843 19,816 Transfers between funds (1,746) 1.746 Other reeognised gains and losses Other gains/(losses) user defined I 4,238 4,238 4238 (3,654) 16,162 Net movement in fmnds 25,097 (2,254) 27,081 Reeoneiliation of fund$ Total fiinds brought forward Total funds rried forward (1,279) 23,818 2,254 108,448 112.686 109,423 93,261 136,504 109,423 The statement of finanLial activities includes all gains and losses recognised in the year. All income and ¢xpenditure derive from continuing activities. The notes on pages 10 to 19 form part of ¢bese fin#ntiAI Statements.
JOHN MACKINTOSH MEMORIAL HOMES STATEMENT OF FINANCIAL POSITION (conl 29 FEBRUARY 2024 2024 2023 Note FIXED ASSETS Tangible fixed assets Investments 13 14 43,586 91,630 43,586 87.392 135216 130,978 CURRENT ASSETS Debtors Cash at batjk and in hand 15 4,417 44,909 2,799 29,560 49J26 32.359 CREDITORS: amount$ falling due within one year Trade creditors Other creditors includin8 taxation and social security Accruals and deferred income 1.820 16 7J63 15J69 7,353 12,408 21,581 22,732 NET CURRENT ASSETS 26594 10,778 TOTAL ASSETS LESS CURRENT LIABILITIES 161,810 141,756 CREDITORS: amounts falling due after more than one year NET ASSETS 17 25J06 32,333 136,504 109,423 FUNDS OF THE CHARrrY ETtdowment funds Restricted funds Unrestricted funds 112,686 108,448 2,254 (1,279) 109,423 23,818 Total charity funds 18 136,504 These financial statements were approved by the board of trustees and authoris¢d for issue on I I December 2024, and are signed on behalf of the board by.. F Mike Berry Trustee Lucy Artllitage (Chair) Trustee Tbe notes on pages 10 to 19 form part ofthese finaneial Statements.
JOHN MACKINTOSH MEMORIAL HOMES NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 29 FEBRUARY 2024 GENERAL INFORMATION The charity is a public benefit entity and a registered charity in England and Wales and is unin¢orporated. The address of the princip&l offi¢¢ is Albert Promenade, Skircoat Green, Halifax, HX3 OHA. STATEMENT OF COMPLIANCE These financial statements have been prepared in compliance with FRS 102. 'The Financial Reporting Standard applicable in the UK and thc Republic of Ireland,, the Statement of Recotnmended Practice applicable lo charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (Charities SORP (FRS 102)) and the Charities Act 2011. ACCOUNTING POLICIES Basis ofprep%ratioll The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities. The financial statements are prepared in sterling, which is the functional curren¢y of the entity. Going concern There are no material un¢ertainties about the charity's ability to continue. Judgements and key 50ur¢es of e8¢imation uncertainty The preparation of the financial statements requires management to make judgements, estimates and assutnptions that affect the amounts reported. These estitnates and judgements are ¢onlinu&lly reviewed and are based on experience and other factors, including expe¢tations of future events that are believed to be reasonable under the circumstsnces. There are not considered to be any judgemenls or accounting estimates or assumptions that have a significant impact on the financial statements Fund accounting Unrestricted funds are available for usc at the discretion of the trustees to further any of the charity's purposes. Designated funds are unrestricted funds earniarked by the trustee5 for particular future project or commitment. Restricted funds are subjected to restrictions on Iheir expenditure declared by the donor or through the temis of an appeal. fall into one of two sub-¢lass¢s'. re5tri¢ted income funds or endowment funds. io
JOHN MACKINTOSH MEMORIAL HOMES NOTES TO THE FINANCIAL STATEMENTS f YEAR ENDED 29 FEBRUARY 2024 Incoming resour¢ All income is included in the statement of financial activities when ¢ntitlement has passed to the charity, it is probable that the economic benefits associated with the transaction will flow to the charity and the amount can be reliably measured. Resources expended Expendilure is recognised on an accruals basis as a liability is incurred. Expenditure includes VAT and is classified under headings of the statement of finan¢ial activities to which it relales= expenditure on charitable activities includes all costs in¢urred by a charity in undertaking activities that further its charitable aims for the benefit of its beneficiaries. in¢luding those 5UPPOrt costs and ¢osts relating lo the governance of the charity apportioned to charitable activilies. Tangible assets Tangible assels are initially recorded at cosl, and subsequently stated at cost less impairnient losses. Investments Listed investments are measured at fair value with changes in fair value being recognised in profit or loss. Financial instruments The company only has financial assets and financial liabilities of a kind that qualify as basic finan¢ial instruments. Basic financial instruments are initially recognised al transaction value and subsequently Tneasured at their settlement valu¢ with thc exception of bank loans which are subsequently measurcd at amortised cost using the effeciive interest method. DONATIONS AND LEGACIES Unrestri¢frd Total funds Unrestricted Total funds funds 2024 funds 2023 GRANTS Grants receivable 3,514 3,514 5.000 5,000 CHARITABLE ACTIVITIES Unrestricted Total funds Unrestricted Total funds funds 2024 funds 2023 Almshouses resident's contributions 99,819 99,819 93,523 93,523 li
JOHN MACKINTOSH MEMORIAL HOMES NOTES TO THE FINANCIAL STATEMENTS ( YEAR ENDED 29 FEBRUARY 2024 INVESTMELYT INCOME Unrestricled Total funds Unrestricted Total funds fund5 2024 funds 2023 Income from listed investments Bank interest receivable 1,994 1,402 1,994 1,402 2,161 292 2,161 292 3,396 3J96 2,453 2.453 EXPENDITURE ON CHARIT ABLE ACTIVITIES BY FUND TYPE Unrestricted Restricted Total funds funds funds 2024 Almshouses costs Support costs 76,551 3,335 4,000 80,551 3J35 79,886 4,000 83086 Unrestricted Restricted Total funds funds funds 2023 Almshouses ¢osts Support costs 77,688 3,157 80,845 315 78,003 3.157 315 81.160 EXPENDITURE ON CHARITABLE AcrtVlTIES BY ACTIVITY TYPE Activiti¢s undertaken directly Total funds Total fund 2024 2023 Support costs Almshouses costs Governance costs 80,551 80,551 3,335 78,003 3,157 3.335 80,551 3.335 83,886 81,160 12
JOHN MACKINTOSH MEMORIAL HOMES NOTES TO THE FINANCIAL STATEMENTS ( YEAR ENDF.D 29 FEBRUARY 2024 ANALYSIS OF ALMSHOUSES COSTS TotAI 2024 Total 2023 Scheme manager's salaries and national insurance Clerk's salaries and national insurance Clerk's expenses Routine maintenance Legal and professional fees Light, heat, rates and water Insurance Gardener and cleaning Advertising Effective interest on Almshouse loan Residents, welfare Travelling Telephone and other office costs 18824 6,164 98 3234 5,006 8J77 2,927 2087 17,435 5,769 168 3,310 5,696 12,129 2,268 4,012 225 380 728 179 859 324 951 207 I35 50534 53,158 Cyclical maintenance Restricted Extraordinary repairs 26,017 24,530 4,000 315 8051 78,003 ANALYSIS OF GOVERNANCE COSTS 2024 2023 Scheme tnanager's salaries Clerk's salary Clerk's expcnses Bank charges Independent examiners report 887 1,540 98 60 750 923 1.442 168 74 550 3?35 3.157 10. INDEPENDENT EXALATION FEES 2024 2023 Fees payable to the independent examiner for.. Independent examination of the financial ststements (hher financial s¢rvi¢es 750 2,566 3?16 550 1,686 2,236 13
JOHN MACKINTOSH MEMORIAL HOMES NOTES TO THE FINANCIAL ST ATEMENTS (conli ed) YEAR ENDED 29 FEBRUARY 2024 11. STAFF COSTS The total staff cost5 and employee benefits for the reporting period are anAlys¢d as follows: 2024 2023 Wages and salaries Social security costs 21252 6,164 19,800 5,769 25,569 27,416 2024 2023 Warden's salaries and national insurance Scheme manager's salary and national insurance 19,711 7,705 18,358 7,211 27,416 25,569 The average head count of employees during the ye8r was 3 (2023.. 3). No employee rec¢iv¢d employee benefits of more than £60,000 during the year (2023= Nil). 12. TRUSTEE RE1UNERATIOIY AND EXPENSES No remun¢ration or other benefits from employment with the charity or a related entity were received by th¢ trust¢es. 13. TANGIBLE FIXED ASSETS Freehold property Cost At l March 2023 and 29 February 2024 Carrying amount At 29 February 2024 At 28 February 2023 43586 43,586 43,586 14
JOHN MACKINTOSH MEMORIAL HOMES NOTES TO THE FINANCIAL STATEMENfs (CorfrfUerfj YEAR ENDED 29 FEBRUARY 2024 14. INVESTMENTS Listed investments Cost or valuation Ai l March 2023 Addition5 Fair valuc movement5 87J92 4,238 Al 29 February 2024 Impairment At l March 2023 and 29 February 2024 Carrying amount At 29 February 2024 At 28 February 2023 91,630 91,630 87,392 All investments shown above are held at valuation. Fillancial assets held at fair value Cost Fair value 2024 2024 C05t 2023 Fair value 2023 COIF charities deposit funds CCLA property fund (11,825 income units) COIF charities ethical investments {9,951 income units) COIF charities eihical inv¢slments (7,453 income units) 25,771 25,771 25,77l 25,771 12,051 12J94 12,051 12.863 24,000 30571 24,000 27,228 20,000 22,894 20,000 21,530 87,392 81,822 91,630 81,822 'rhe invested funds are revalued al the balance sheet date to the mid daily value published on the providers website. 15. DEBTORS 2024 2023 Prepayments and accrued income Other debtors 1220 3,197 1,006 1,793 4,417 2,799 Is
JOHN MACKINTOSH MEMORIAL HOMES NOTES TO THE FINANCIAL STATEMENTS (e¢oiiJrMeJ YEAR ENDED 29 FEBRUARY 2024 16. OTHER CREDITORS INCLUDING TAXATION AND SOCIAL SECURITY FALLING DUE WITHIN ONE YEAR 2024 2023 Social security and other taxes Almshouse Association Loan Other creditors 240 7,027 96 327 7.026 7J63 7,353 17. CREDITORS: amounts falling due after more than one year 2024 2023 Almshous¢ Association Loan due in 2 to 5 years 25J06 32,333 This loan is repayable by bi-annual instalments and has an eff¢¢live interest rate of 0.80/0. 18. ANALYSIS OF CHARITABLE FUNDS Ullreslricted fund5 At l Mar 2023 Gains attd losses At 29 Feb 2024 Income Expenditure Transfers General funds (1,279) 106.729 (79,887) (1,746) 23017 At l Mar 2022 In¢om¢ Gain5 and losses At 28 Feb 2023 Expenditure Transfers General funds (21,410) 100.976 {80,845) {1,279) 16
JOHN MACKIIYTOSH MEMORIAL HOMES NOTES TO THE FINANCIAL STATEMENTS I contlnmed) YEAR ENDED 29 FEBRUARY 2024 18. ANALYSIS OF CHARITABLE FUNDS (co11ne) Restricted funds At l Mar 2023 Gains and losses At 29 Feb 2024 Income Expenditure Transfers Extraordinary repair fund 2,254 (4,000) 1,746 At l Mar 2022 Gains and losses At 28 Feb 2023 Income Expenditure Transfers Extraordinary repair fund 2,569 (315) 2,254 Extraordinary repair fund The 1975 scheme set up a charity for the maint¢nance of the homes, the 'Charity of Violet Mackitktosh,, which is represented by a restricted fund. The John Ma¢kintosh Memorial Homes Charity specifies the establishment of a res¢rve fund entitled 'Extraordinary Repair Fund,, for the purposes of providing the extraordinary repair, tmprovem¢nl or rebuilding of the Almshouses. The Extraordinary Repair Fund (ERF) and Cyclical Maintenance Fund (CMF) have had minimal transfers required to retnove negative balances. This is in recognition of the investments made in improvin8 th¢ estate via the general fund in 2018 and 2019. 17
JOHN MACKINTOSH MEMORIAL HOMES NOTES TO THE FINANCIAL STATEMENTS (conilou¢d) YEAR ENDED 29 FEBRUARY 2024 19. ANALYSIS OF NET ASSETS BETWEEN FUNDS Unre%tri¢t¢d Restricted Endowment Total funds funds funds funds 2024 Tangible fixed assets Investments Current assets Creditors less than l year Crcditors greater than l year N¢t 455ets 43.586 69,100 4J,586 91,630 49J26 {22,732) {25J06) 136,504 22,529 49,326 (22,732) (25,306) 23,817 112,686 Unrestrict¢d Restricted Endowmeni Total funds funds funds funds 2023 Tangibl¢ fixed assets Investments Current assets Crcditors less than l year Creditors great¢r than l year Net assets 43,586 64,862 43,586 87,392 32,359 {21,581) {32.333) 109,423 22,530 30.105 {21,581) {32,333) {1,279} 2.254 2,254 108,448 20. RELATED PARTIES During the year £2,500 donation was receiv from United Charities of Nathaniel Waterhouse Charities a Charity under the common control of th¢ trustees. 19