**Charity Number: 223222**
**The Woodcock and Bowes Charity Unaudited Financial Statements for the year ended 31 December 2021**
**The Woodcock and Bowes Charity**
**Legal and Administration Details**
**Charity Number: 223222**
## **Trustees**
Mrs R. H. Clavering Mr D. Bennison Mrs J. Downs - Chairman Mrs M. Wilkinson – Vice Chairman Mrs S. Brown Mrs K. Tuddenham Mrs M. Blacklock Mrs P. Howe Rev. S. Bain (resigned 31/10/2021)
## **Nominated Trustees Sunderland City Council**
Coun. A. Wilson (resigned 31/03/2021) Coun. M. Thornton Coun. J. Heron (appointed 01/04/2021)
**Warden** C. Walton
**Secretary** Mrs R. H. Clavering
**Principal Address** The Bungalow Dipe Lane East Boldon NE36 0PQ
## **Almshouses Address**
Maritime Almshouses Gorse Road Sunderland Tyne and Wear SR2 7BX
**Bankers** Lloyds TSB Bank plc P. O. Box 45 54 Fawcett Street Sunderland SR1 1SF COIF Charity Funds Senator House 85 Queen Victoria Street London EC4V 4ET
**Investment Advisors** M&G Securities Limited 10 Fenchurch Avenue London EC3M 5AG **Independent examiners** Torgersens Somerford Buildings Norfolk Street Sunderland SR1 1EE
1
**The Woodcock and Bowes Charity Trustees’ Report**
**for the year ended 31 December 2021**
## **Charity Number 223222**
The trustees present this report together with the financial statements of the Charity for the year ended 31 December 2021. The financial statements have been prepared in accordance with the accounting policies set out on pages 7 to 8 and comply with the current statutory requirements, the requirements of the charity’s governing document and the current Statement of Recommended Practice.
## 1. **Structure, Governance and Management**
The Charity known as The Woodcock and Bowes Charity was founded on 14 July 1967. This followed the combination of three existing charities; The Bowes Almshouses Trust (founded 1725), Almshouses and Pension Charity of Elizabeth Woodcock (founded 1820) and The Charity of Dame Amy Katharine Ritson (founded 1935). The charity was registered under the provisions of the Charities Act 1960 as charity number 223222.
The Charity is an endowed charity and all administrative charges are discharged out of income; subject thereto all the income is applied to the objects of the Charity.
The Charity is managed by the ten serving trustees, who are listed on page 1, two of whom are co-opted after nomination by the City of Sunderland Council. The remaining eight co-optative Trustees have been selected to reflect their expertise in different fields with the financial, legal, medical, marine and building professions being represented.
The Trustees meet on a regular basis regarding the management of the Almshouses and its finances.
The day to day care of the occupants is maintained by the Warden, C. Walton, who lives in the Warden’s bungalow and who reports to the Secretary.
## 2. **Objectives and Activities**
Previously the Charity aimed to provide accommodation for dependent female relatives of seafarers and deserving cases of women in the City of Sunderland who were in need of support. In order to reduce the losses to voids the charity has amended its objects to any women of necessitous circumstances. There is also a commitment to maintain the Almshouses in which the warden and residents live.
## 3. **Public Benefit Statement**
The trustees have had regard to the Charity’s Commission guidance on their legal duty on public benefit, and are satisfied that the Charity delivers public benefit, and due regard is paid to the guidance on public benefit when deciding on what new projects the charity should undertake.
## 4. **Achievements and Performance**
Included in general repairs in the year has been the annual gas safety checks and work undertaken to treat a black mould problem.
## 5. **Financial Review**
The value of the Charity’s Fund’s investments has increased by £40,228 compared to the previous year. The increase in the value of these assets is due partly to market factors and could fluctuate both upwards and downwards in the coming year.
The cash funds of the Charity as at 31 December 2021 have increased by £10,964.
The income of the Charity has decreased during the year by £2,298.
The free reserves of the Charity amount to £6,933. The Trustees’ policy in relation to reserves is to ensure that, in the event of a significant reduction in income, there are sufficient free reserves to cover a minimum of 6 months of daily running costs.
2
**The Woodcock and Bowes Charity**
**Trustees’ Report**
## **for the year ended 31 December 2021 Charity Number 223222**
## 6. **Statement of Trustees’ Responsibilities**
The Trustees are required to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the Charity and of the Statement of Financial Activities of the Charity for that period. In preparing those financial statements the Trustees are required to:
- select suitable accounting policies and then apply them consistently;
- make judgements and estimates that are reasonable and prudent;
- follow the recommendation of the Charity Commission and of the accounting profession with regard to form and content of the financial statements and to disclose and explain any departures therefrom; and
- prepare financial statements on the going concern basis unless it is inappropriate to presume that the Charity will continue to operate.
The Trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the Charity. 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.
## Insofar as the trustees’ are aware:
- there is no relevant audit information of which the charity’s independent examiners are unaware; and
- the trustees have taken all steps that they ought to have taken to make themselves aware of any relevant audit information and to establish that the independent examiners are aware of that information.
7. **Investment Policy and Performances**
The Trustees’ investment objective is to maintain and enhance the value of the fixed assets over the long term in order to maintain and if possible increase the income available for the purpose of the Charity.
To achieve this objective the policy of the Trustees is to invest in a broad range of equities and fixed interest investments. The investments are reviewed six times a year and their performance compared with the appropriate indices. Taking into account market fluctuations investment performance has been satisfactory.
8. **Risk Assessment**
The Trustees have considered any risks to which the Charity might be exposed and are satisfied that the administrative, investment and financial procedures which are in place minimise the risk of any loss to the Charity.
Approved by the Trustees on the and signed on their behalf by:
Mrs R. H. Clavering Secretary
3
**Report of the Independent Examiner’s to the Trustees of**
**The Woodcock and Bowes Charity**
## **on the Financial Statements for the year ended 31 December 2021**
______________________________________________________________________________
I report to the trustees on my examination of the accounts of The Woodcock and Bowes Charity (the Charity) for the year ended 31 December 2021.
## **Responsibilities and basis of report**
As the trustees of the Charity you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 (‘the Act’).
I report in respect of my examination of the Charity’s accounts carried out under section 145 of the 2011 Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.
## **Independent examiner’s statement**
I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
1. accounting records were not kept in respect of the Charity as required by section 130 of the Act; or
2. the accounts do not accord with those records; or
3. the accounts do not comply with the applicable requirements concerning the form 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 fair view which is not a matter considered as part of an independent examination.
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
Mrs A. M. Henshaw FCCA Torgersens Chartered Accountants Somerford Buildings Norfolk Street Sunderland SR1 1EE
Date:
4
## **The Woodcock and Bowes Charity**
## **Statement of Financial Activities**
## **for the year ended 31 December 2021**
|**Unrestricted**
**Restricted** **Endowment**
**Funds**
**Funds**
**Funds**
**Notes**
**£**
**£**
**£**
**Income**
Income from charitable activities
4
-
26,972
-
Income from investments
5
6
10,865
-
Other income
6
250
1
-
_____
______
______
**Total Income and Endowments**
256
37,838
-
**Expenditure**
Expenditure on charitable activities
7
-
9,206
-
Other expenditure
8
11,760
9,779
383
_______
_______
______
**Total Expenditure**
11,760
18,985
383
**Net Gains/(Losses) on Investments**
-
27,034
4,568
**Net Income/(Expenditure)**
(11,504)
45,887
4,185
**Transfers between Funds**
573
(573)
-
______
_______
______
**Net Movement in Funds**
(10,931)
45,314
4,185
**Total Funds at 1 January 2021**
90,553
301,374
80,230
_______
_______
______
**Total Funds at 31 December 2021**
79,622
346,688
84,415|**Total**
**2021**
**£**
26,972
10,871
251
______
38,094
9,206
21,922
_______
31,128
31,602
38,568
-
______
38,568
472,157
_______
510,725|**Total**
**2020**
**£**
27,456
12,936
-
______
40,392
7,247
23,680
______
30,927
(22,748)
(13,283)
-
______
(13,283)
485,440
_______
472,157|
|---|---|---|
_The notes on pages 7 to 12 form part of these financial statements_
5
## **The Woodcock and Bowes Charity**
## **Statement of Financial Position**
## **as at 31 December 2021**
|**Notes**
**Fixed Assets**
Tangible Fixed Assets
11
**Investments in United Kingdom Stocks**
National Association of Almshouses
Common Investment Fund
12
- 60,658 Income Shares
- 2,832 Accumulation Shares
Charities Official Investment Fund
-
448 Income Shares
**Current Assets**
Debtors
13
Cash at Bank and in Hand
Deposit Accounts
Current Accounts
Cash Balances
**Current Liabilities**
Other creditors
14
**Net Current Assets**
**Net Assets**
**Funds**
Endowment Fund
16
Restricted Funds
17
General Fund
18
Designated Funds
18|**2021**
**£**
55,290
296,517
9,214
1,040
46,000
4,655
300
______
51,995
(5,405)
______
|**2021**
**£**
103,114
361,021
46,590
_______
510,725
84,415
346,688
6,933
72,689
_______
510,725|2020
£
50,722
262,002
8,069
354
33,000
6,691
300
______
40,345
(3,665)
______
|2020
£
114,684
320,793
36,680
_______
472,157
80,230
301,374
6,677
83,876
_______
472,157|
|---|---|---|---|---|
These financial statements have been prepared in accordance with Charities SORP (FRS 102).
These financial statements were approved by the board of trustees and authorised for issue on _________________, and are signed on behalf of the board by:
Trustee
Trustee
_The notes on pages 7 to 12 form part of these financial statements_
6
**The Woodcock and Bowes Charity**
**Notes to the Financial Statements**
**for the year ended 31 December 2021**
## 1. **General Information**
The Woodcock and Bowes Charity is a charity domained in England and Wales. Charity registration number 223222. The address of the registered office is The Bungalow, Dipe Lane, East Boldon, NE36 0PQ.
## 2. **Statement of Compliance**
These financial statements have been prepared in compliance with the provision of FRS 102, “The Financial Reporting Standard applicable in the UK and the Republic of Ireland”.
## 3. **Accounting Policies**
## a **Basis of Preparation**
These financial statements have been prepared under the historical cost convention as modified by the revaluation of fixed asset investments measured at fair value through the statement of financial position, and in accordance with:
- i) the Statement of Recommended Practice: Accounting reporting by Charities preparing their accounts in accordance with the Financial Reporting Standards applicable in the UK and Republic of Ireland (FRS 102) issued in January 2015 (SORP 2015)
- ii) the Financial Reporting Standard applicable in the UK and republic of Ireland (FRS 102)
- iii) the Charities Act 2011
The financial statements are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these unaudited financial statements are rounded to the nearest £.
## b **Incoming resources**
Dividends are included in the Statement of Financial Activities when they are declared. Bank interest is included in the Statement of Financial Activities on receipt.
Cash donations are included in full in the Statement of Financial Activities as soon as they are received. Residents contributions are included in the Statement of Financial Activities when receivable. Investment gains and losses includes any gain or loss on the sale of investments and any gain or loss resulting from revaluing investments to market value at the end of the year.
## c **Expenditure and liabilities**
All expenditure, other than that which has been capitalised is included in the Statement of Financial Activities. The value of purchase invoices received before the year end but not paid until after the year end has also been included in the Statement of Financial Activities.
Liabilities are recognised as soon as there is a legal or constructive obligation committing the charity to pay out resources.
## d **Fixed asset investments**
Investments are a form of basic financial instrument and are initially recognised at their transaction value and subsequently measured at their fair value as at the statement of financial position date using the closing quoted market price.
The charity does not acquire put options, derivatives or other complex financial instruments.
All gains and losses are taken to the Statement of Financial Activities as they arise. Realised gains and losses on investments are calculated as the difference between sales proceeds and their opening carrying value or their purchase value if acquired subsequent to the first day of the financial year. Unrealised gains and losses are calculated as the difference between the fair value at the year end and their carrying value. Realised and unrealised investment gains and losses are combined in the Statement of Financial Activities.
7
**The Woodcock and Bowes Charity**
**Notes to the Financial Statements**
## **for the year ended 31 December 2021**
## 3. **Accounting Policies** _**(continued)**_
## e **Depreciation**
Depreciation is calculated to write down the cost, less estimated residual value of the Freehold Property used by the Charity over its expected useful life of:
|Freehold Property|1%|
|---|---|
|Kitchens|10%|
|Electrics|3.33%|
|Bathrooms|6.67%|
|Fixtures & Fittings|10%|
## f **Funds Accounting**
Funds held by the charity are used for:
## **General Fund**
Comprises those funds that the principals are free to use in accordance with the charitable objectives
## **Restricted Funds**
Restricted funds are to be used for specific purposes as laid down by the donor. Expenditure which meets the criteria is charged to the fund.
## **Endowment Fund**
Represents those assets which are held permanently by the charity, principally investments. Income arising on the endowment funds can be used in accordance with the objects of the charity. Any capital gains and losses arising on investments form part of the fund. Investment management and legal advice relating to the fund are charged against the fund.
## **Designated Fund**
Represents funds earmarked by the trustees for renovation works necessary to bring the Almshouses properties up to date.
## g **Going Concern**
The financial statements have been prepared on a going concern basis.
## 4. **Income from Charitable Activities**
|**Income from Charitable Activities**
Residents Contributions|**2021**
**£**
26,972|**2020**
**£**
27,456|
|---|---|---|
Income from Charitable activities for the year was £26,972 (2020: £27,456) of which £26,972 (2020: £27,456) was restricted.
## 5.
|**Income from Investments**
Dividends
Interest Receivable
|**2021**
**£**
10,865
6
______
10,871|**2020**
**£**
12,882
54
______
12,936|
|---|---|---|
Income from investments for the year was £10,871 (2020: £12,936) of which £10,865 (2020: £12,882) was restricted and £6 (2020: £54) was unrestricted.
## 6.
|**Other Income**
Other income|**2021**
**2020**
**£**
**£**
251
-
____
____
251
-|
|---|---|
Other income for the year was £250 (2020: £nil) of which £1 (2020: £nil) was restricted.
8
**The Woodcock and Bowes Charity**
**Notes to the Financial Statements**
**for the year ended 31 December 2021**
## 7.
|**Expenditure on Charitable Activities**
Rates and Water
Electricity
Insurance
Garden Maintenance etc.
Repairs, Renewals and Decorating
|**2021**
**£**
2,663
276
1,377
1,387
3,503
_______
9,206|**2020**
**£**
2,655
234
1,387
1,215
1,756
______
7,247|
|---|---|---|
Expenditure on charitable activities for the year was £9,206 (2020: £7,247) of which £9,206 (2020: £7,247) was restricted.
|8.
**Other Expenditure**
Warden’s Honorarium
Sundry Expenditure
Vitacall and Warden’s Telephone
Subscriptions – National Association of Almshouses
Audit and Accountancy
Bookkeeping Charges
Bank Charges
Depreciation
Loss on Disposal
_
|**2021**
**£**
2,700
338
4,556
216
1,884
50
35
12,143
-
_____
21,922|**2020**
**£**
2,700
327
5,190
210
1,830
50
60
12,113
1,200
______
23,680|
|---|---|---|
Other expenditure for the year was £21,922 (2020: £23,680) of which £9,779 (2020: £11,567) was restricted, £11,760 (2020: £11,730) was unrestricted and £383 (2020: £383) related to endowment funds.
## 9 **. Staff Numbers**
The charity had no employees during the current and previous financial year.
## 10 **. Trustees Remuneration and Expenses and Key Management Personnel**
Apart from, as set out below, there were no trustees’ remuneration or other benefits for the current and preceding year.
During the current and preceding year the trustees did not receive any remuneration or any other benefits from employment with the charity.
Trustees expenses paid for the year were £124 (2020: £107) paid to 1 (2020: 1) trustee in reimbursement of stationery, postage, bookkeeping fees.
The key management personnel of the charity comprise of the trustees only.
## 11. **Fixed Assets**
|**Fixed Assets**
**Property**
**Fixtures &**
**Fittings**
**£**
**£**
**Cost**
At 1 January 2021
173,945
3,312
Additions
-
573
Disposals
-
-
______
_______
At 31 December 2021
173,945
3,885
**Depreciation**
At 1 January 2021
62,076
497
Charge for year
11,781
362
Disposals
-
-
______
______
At 31 December 2021
73,857
859
**Net Book Value**
At 31 December 2021
100,088
3,026
At 31 December 2020
111,869
2,815|**Total**
**£**
177,257
573
-
_______
177,830
62,573
12,143
-
______
74,716
103,114
114,684|
|---|---|
9
**The Woodcock and Bowes Charity**
## **Notes to the Financial Statements**
||||||**Notes to the Financial Statements**|**Notes to the Financial Statements**|**Notes to the Financial Statements**|**Notes to the Financial Statements**|
|---|---|---|---|---|---|---|---|---|
||||||**for the year ended 31 December 2021**||||
|12.|**Investments**|||||||**£**|
||Market value at 1 January|2021||||||320,793|
||Additions at cost|||||||8,627|
||Disposals at market value|||||||-|
||Movement in market value|||||||31,601|
|||||||||______|
||Market value at 31 December 2021|||||||361,021|
||Investment at market value comprised:||||||||
||Investments held on a recognised stock exchange or held in common investment||||||funds||
||Historical cost at 1 January 2021|||||||196,732|
||Additions at Cost|||||||8,627|
||Disposals|||||||-|
||||||||_______||
||Historical cost at 31 December 2021|||||||205,359|
||Individual investments held at 31 December|||2021 which are over 5% of the portfolio by value are:|||||
||||||||**Market**||
||||||||**Value**|**%**|
||M&G Charity Multi Asset|Fund Income Units|||||55,290|15.31|
||M&G Charity Multi Asset|Fund Accumulation Units|||||296,517|82.13|
|13.|**Debtors**||||||||
||||||||**2021**|2020|
||||||||**£**|£|
||Prepayments||||||57|57|
||Other Debtors||||||983|297|
||||||||_____|______|
||||||||1,040|354|
|14.|**Creditors**||||||||
||||||||**2021**|2020|
||||||||**£**|£|
||Other Creditors||||||1,427|1,278|
||Accruals||||||3,978|2,387|
||||||||______|______|
||||||||5,405|3,665|
|15.|**Summary of Net Assets by Fund -**||**2021**||||||
|||**Restricted funds**||||**Unrestricted Fund**||**Permanent**|
||||**Extraordinary**|||||**Endowment**|
||**Permanent**||**Repair and**||||**Accumulated**|**Fund**|
||**Endowment**||**Improvement**||**Education**||**Income**|**Capital**|
||**Reserve**|||**Fund**|**Fund**|**Total**|**Account**|**Account**|
|||**£**||**£**|**£**|**£**|**£**|**£**|
||Freehold Property|-||-|-|-|73,987|29,127|
||Investments|-||296,517|9,214|305,731|-|55,290|
||Current Assets|62,140||(16,476)|698|46,362|5,635|(2)|
||Current Liabilities|(5,405)||-|-|(5,405)|-|-|
|||56,735||280,041|9,912|346,688|79,622|84,415|
||**Summary of Net Assets by Fund –**||**2020**||||||
|||**Restricted funds**||||**Unrestricted Fund**||**Permanent**|
||||**Extraordinary**|||||**Endowment**|
||**Permanent**||**Repair and**||||**Accumulated**|**Fund**|
||**Endowment**||**Improvement**||**Education**||**Income**|**Capital**|
||**Reserve**|||**Fund**|**Fund**|**Total**|**Account**|**Account**|
|||**£**||**£**|**£**|**£**|**£**|**£**|
||Freehold Property|-||-|-|-|85,176|29,508|
||Investments|-||262,002|8,069|270,071|-|50,722|
||Current Assets|50,411||(15,904)|461|34,968|5,377|-|
||Current Liabilities|(3,665)||-|-|(3,665)|-|-|
|||46,746||246,098|8,530|301,374|90,553|80,230|
10
**The Woodcock and Bowes Charity**
## **Notes to the Financial Statements**
**for the year ended 31 December 2021**
## 16. **Endowment Funds**
|**B/fwd**
**as at**
**Incoming**
**Outgoing**
**Gains**
**01.01.21**
**Resources**
**Resources**
**Transfers**
**& (Losses)**
**£**
**£**
**£**
**£**
**£**
Endowment Fund
80,230
-
(383)
-
4,568
______
_______
______
___
______
80,230
-
(383)
-
4,568
**B/fwd**
**as at**
**Incoming**
**Outgoing**
**Gains**
**01.01.20**
**Resources**
**Resources**
**Transfers**
**& (Losses)**
**£**
**£**
**£**
**£**
**£**
Endowment Fund
84,707
-
(383)
-
(4,094)
______
_______
______
___
______
84,707
-
(383)
-
(4,094)|**Balance**
**as at**
**31.12.21**
**£**
84,415
_______
84,415
**Balance**
**as at**
**31.12.20**
**£**
80,230
_______
80,230|
|---|---|
The Endowment funds were set up under the trust deed dated 14 July 1967. Resident contributions in respect of the property are applied towards the property running costs, any excess being directed, together with attributable investment income, to the general administration overheads of the charity.
## 17. **Restricted Funds**
Restricted funds comprise the following balances on income and capital fund.
|**B/fwd** **Movement in Funds**
**as at Incoming Outgoing**
**Capital**
**01.01.21 Resources Resources Expenditure**
Education Fund
Capital
8,070
-
-
-
Income
460
237
-
-
_______
_______
_______
_______
8,530
237
-
-
Extraordinary Repair and
Improvement Fund
Capital
246,098
8,627
-
(573)
Permanent Endowment Reserve
46,746
28,974
(18,985)
-
_______
_______
_______
_______
301,374
37,838
(18,985)
(573)
**B/fwd** **Movement in Funds**
**as at Incoming Outgoing**
**Capital**
**01.01.20 Resources Resources Expenditure**
Education Fund
Capital
7,585
-
-
-
Income
228
232
-
-
_______
_______
_______
_______
7,813
232
-
-
Extraordinary Repair and
Improvement Fund
Capital
255,560
10,527
-
(850)
Permanent Endowment Reserve
35,981
29,579
(18,814)
-
_______
_______
_______
_______
299,354
40,338
(18,814)
(850)|**Gains/**
**(Losses)**
1,145
-
_______
1,145
25,889
-
_______
27,034
**Gains/**
**(Losses)**
485
-
_______
485
(19,139)
-
_______
(18,654)|**C/fwd**
**as at**
**31.12.21**
9,215
697
______
9,912
280,041
56,735
_______
346,688
**C/fwd**
**as at**
**31.12.20**
8,070
460
______
8,530
246,098
46,746
_______
301,374|
|---|---|---|
Investments in the Education fund are used to generate the income which is distributed to the Bishopwearmouth Church, and other grantees, for educational purposes.
The Extraordinary Repair and Improvement fund is utilised to improve and enhance the Almshouses.
The permanent endowment restricted reserve receives income from investments held in the permanent endowment capital fund and income from residents contributions in respect of properties held. Expenses charged to the restricted reserve are with regard to property running costs and general administration overheads of the charity.
11
**The Woodcock and Bowes Charity Notes to the Financial Statements**
## **for the year ended 31 December 2021**
## 18. **Unrestricted Funds**
|**B/fwd** **Movement in Funds**
**as at Incoming Outgoing**
**Capital**
**Gains/**
**01.01.21 Resources Resources Expenditure (Losses)**
Designated Funds
Capital Refurbishment
83,876
-
(11,760)
573
-
General Fund
6,677
256
-
-
-
_______
_____
_______
______
______
90,553
256
(11,760)
573 -
**B/fwd** **Movement in Funds**
**as at Incoming Outgoing**
**Capital**
**Gains/**
**01.01.20 Resources Resources Expenditure (Losses)**
Designated Funds
Capital Refurbishment
94,756
-
(11,730)
850
-
General Fund
6,623
54
-
-
-
_______
_____
_______
______
______
101,379
54
(11,730)
850 -|**C/fwd**
**as at**
**31.12.21**
72,689
6,933
_______
79,622
**C/fwd**
**as at**
**31.12.20**
83,876
6,677
_______
90,553|
|---|---|
The development and capital refurbishment funds were set up to ringfence monies required to undertake the renovation works necessary to bring the almshouses properties up to date.
## 19. **Related Party Transactions**
During the year, the charity accepted bookkeeping charges amounting to £50 (2020: £50) from a trustee. The trustee was also due a reimbursement of expenses amounting to £74 (2020: £57). The trustee was reimbursed £124 (2020: £107). The amounts outstanding at the year end were £Nil (2020 : £Nil).
During the year the charity made a donation of £Nil (2020: £Nil) to the Minster Sunday School, a church in which a trustee of the charity is the Canon Provost.
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