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2021-12-31-accounts

JANE GIBSON ALMSHOUSES Charity Registration Number 223223 Housing Corporation Register Number A0567

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2021

JANE GIBSON ALMSHOUSES

LEGAL AND ADMINISTRATIVE DETAILS

YEAR ENDED 31 DECEMBER 2021

Trustees

Sir John Mowbray Bt (Patron) Mrs H. Clavering Mrs M. Carruthers Mr A. Patchett Mr G. McCormack Mrs G. Walker (Acting Chairman)

Secretary & Treasurer Ms D. Edge

Address

313 High Street West Sunderland SR1 3ET

Investment Manager

Lycetts Financial Services Limited Milburn House Dean Street Newcastle Upon Tyne NE1 1PP

Bankers Barclays Bank plc 53 Fawcett Street Sunderland SR1 1RS

Independent Examiner Mr P. N. Newbold BFP, FCA Torgersens Chartered Accountants Somerford Buildings Norfolk Street Sunderland SR1 1EE

Charity Registration Number 223223 Housing Corporation Register Number A0567

1

JANE GIBSON ALMSHOUSES REPORT OF THE TRUSTEES

FOR THE YEAR ENDED 31 DECEMBER 2021

1. Reference and Administration

The trustees present the charity’s annual report and financial statements for the year ended 31 December 2021.

The legal and administrative details are set out on page 1.

2. Structure, Governance and Management

The charity is governed by trust deed.

Trustees

The body of trustees consists of one ex-officio trustees and no less than three co-optative trustees. The ex-officio trustees comprise the patron of the charity who is the right heir to the founder. The co-optative trustees are persons who through residence, occupation or employment have special knowledge which will be of benefit to the charity.

Ex-officio trustees hold their position by virtue of their office and will always be trustees of the charity. Co-optative trustees are appointed for a term of five years by a resolution of the trustees. The co-optative trustees currently boast the following expertise; care assessment, legal matters, architect and a former Clerk to the Trustees.

Statement of Trustees’ Responsibilities

The Charities Act and Registered Social Housing Legislation 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 surplus or deficit for that period. In preparing these financial statements, the trustees are required to:

The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charity and to enable it to ensure that the financial statements comply with the Charities Act 2011, Schedule 1 to the Housing and Regeneration Act 2008 and the Accounting Direction for Private Registered Providers of Social Housing 2019. 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.

Code of governance

The trustees have adopted the provisions of the revised Code of Governance, issued by the National Housing Federation in 2015; Excellence in Governance: Code for members and good practice.

To help monitor how the charity is performing against this guidance on “governance, accountability and probity”, the trustees carried out a review of policies and procedures.

The result of the review shows that, insofar as the Code applies to small registered social landlords, the Code is being followed.

Risk management

The trustees have assessed the major risks to which the charity is exposed, in particular those related to the operation and finances of the Almshouses and is satisfied that systems are in place to mitigate exposure to major risks.

3. Objectives and activities

Objects of the Charity

The charity, which was founded in 1725, aims to provide low cost, low maintenance accommodation for elderly tenants who can demonstrate their need for same.

2

JANE GIBSON ALMSHOUSES

REPORT OF THE TRUSTEES

FOR THE YEAR ENDED 31 DECEMBER 2021

4. Public Benefit Statement

The trustees have complied with the duty in section 17 of the Charities Act 2011 to have due regard to public benefit guidance published by the Commission during the year.

5. Achievements and Performance

At 31 December 2021 there were 2 houses and 6 flats occupied by elderly tenants. Further details on activities during the year are produced in section 6, below.

6. Financial Review

The financial results for the year are shown in the attached financial statements; the surplus for the year, after the transfer of £520 to the cyclical maintenance reserve, £1,000 to the extraordinary repairs reserve and £1,197 to the restoration work fund was £6,343. The trustees recommend no further designation of the reserves.

Grants and donations received in the year amounting to £80,531, prior year £nil, contributing to the overall increase in income of £80,183. The trustees have continued to maintain tight control over expenditure, with the result that the charity has been able to generate sufficient funds to meet the annual transfer to designated reserves.

Charitable expenditure remained in line with the prior year. There were no quinquennial works undertaken during the year.

Value for Money Standard

The charity has applied the Value for Money Standard for Registered Providers of Social Housing 2018, which came into effect 1[st] April 2018. Out of the seven Value for Money Metrics, Reinvestment and New supply delivered do not apply to the charity as they do not acquire, develop or dispose of social housing properties. Gearing also does not apply to the charity as all residual loans are paid off. Interest cover % cannot be applied as the charity has no interest or finance costs.

2021
£
Headline social housing cost per unit
906
Cost per unit has decreased by 38% due to a decrease in day to day repairs of 45%.
2021
£
Operating Margin %
1%
2021
£
Return on Capital Employed (ROCE)
0%		 2020
£
1,466
2020
£
(7%)
2020
£
0%

Reserves Policy

The undesignated reserves of the charity amount to £330,367. Over the years in which the charity has operated, it has managed to build up reserves which have been invested in a portfolio of stocks and shares. The charity has become reliant upon the dividend and interest income which the portfolio generates; without it the charity would not be able to support the levels of expenditure that it does. As a result, the charity looks on these investments as quasi-endowment. The trustees’ policy in relation to reserves is to ensure that, in the event of a significant reduction in income, they could at least maintain the almshouse properties to an acceptable level.

Investment Policy and Performances

Under the terms of a scheme of the charity commission, the trustees are required to pay annual sums of not less than £520 to the official custodian for charities to be applied to the credit of an account entitled Extraordinary Repairs Fund. The official custodian invests these yearly sums, together with income accruing, in National Almshouses Association Common Investment Fund accumulation units. This apart, the trustees have the power to invest in such manner as they see fit. Funds are now vested with Lycetts Financial Services Limited (“Lycetts”) who are expected to manage a portfolio of investments in accordance with the charity’s investment policy. This policy is to adopt a medium risk strategy based on maximising the returns on the investments, whilst obtaining reasonable growth in the market value of the portfolio. This policy may need to be reviewed following the formulation of reserves policy (see above).

During the year the value of the charity’s investments, after net disposals of £2,099, increased by £25,940.

3

JANE GIBSON ALMSHOUSES

REPORT OF THE TRUSTEES

FOR THE YEAR ENDED 31 DECEMBER 2021

Examiner

The examiner, Mr P. N. Newbold of Torgersens, will be proposed for re-appointment at the Annual General Meeting.

This report was approved by the trustees on

Signed on behalf of the Board of Trustees:

Ms D. Edge Secretary Date:

4

INDEPENDENT EXAMINER’S REPORT TO THE TRUSTEES OF

JANE GIBSON ALMSHOUSES

(A REGISTERED SOCIAL LANDLORD UNDER SECTION 3 OF THE HOUSING ACT 1996)

I report to the trustees on my examination of the accounts of Jane Gibson Almshouses (the Charity) for the year ended 31 December 2021.

Responsibilities and basis of report

As the charity 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

  2. 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.

Mr P. N. Newbold BFP, FCA Torgersens Chartered Accountants Somerford Buildings Norfolk Street Sunderland SR1 1EE

Date:

5

JANE GIBSON ALMSHOUSES

STATEMENT OF FINANCIAL ACTIVITIES

FOR THE YEAR ENDED 31 DECEMBER 2021

Unrestricted Funds
Restricted Funds
___________
__
General
Revaluation
Capital
Revenue
Designated
Restoration
Reserve
Account
Reserve
Reserves
Work
£
£
£
£
£
Income and expenditure
Income
Bank interest
6
Rent receivable
18,425
LessVoids
-
Donations received
-
Grants received
-
80,531
Investment income
7,073
Amortisation of social housing grant
2,448
Amortisation of capital grant
855
_



_
Total Incoming Resources
28,807
80,531
Resources Expended
Charity Running Costs
Insurance
(1,300)
Day to day repairs
(2,468)
Restoration work
-
(86,728)
Quinquennial works
-
Cyclical repair spend
-
Communal heating
(559)
Vital call
(1,529)
Telephone
-
Rates and water
(1,388)
Depreciation
(7,574)


__

__
(14,818)
(86,728)		 Total
Funds
2021
£
6
18,425
-
-
80,531
7,073
2,448
855
_
109,338
(1,300)
(2,468)
(86,728)
-
-
(559)
(1,529)
-
(1,388)
(7,574)
____
(101,546)		 Total
Funds
2020
£
134
18,627
(132)
-
-
8,077
2,449
-
_
29,155
(1,262)
(4,491)
-
-
-
(523)
(1,907)
-
(1,381)
(6,719)
____
(16,283)

6

JANE GIBSON ALMSHOUSES

STATEMENT OF FINANCIAL ACTIVITIES

FOR THE YEAR ENDED 31 DECEMBER 2021 (continued)

Unrestricted Funds
Restricted Funds
___________
__
General
Total
Revaluation
Capital
Revenue
Designated
Restoration
Funds
Reserve
Account
Reserve
Reserves
Work
2021
£
£
£
£
£
£
Other Expenditure
Office Overheads
Subscriptions
(217)
(217)
Sundries
(503)
(503)
Clerks honorarium
(2,500)
(2,500)
Audit fee
-
-
Accountancy fee
(2,080)
(2,080)
Professional fees
(1,415)
(1,415)
Bad debt w/o
-
-
_


_


(6,715)
(6,715)
Total Resources Expended
(21,533)
(86,728)
(108,261)
_



_
_
Net Incoming/(Outgoing) Resources Before Transfers
7,274
(6,197)
1,077
Transfer to Designated Reserve
(2,717)
1,520
1,197
-

_


_

Net Income/(Outgoing) Resources for the year
4,557
1,520
(5,000)
1,077
Almshouses Contribution to Restoration Works
1,197
1,197
Gains/(Deficits) on Investment Assets
Realised
1,786
1,786
Unrealised 21,776
-
21,776


_


__
Net Movement in Funds
21,776
1,197
6,343
1,520
(5,000)
25,836
Funds brought forward 83,131
14,522
203,398
52,560
5,000
358,611
_

_


_

Fund balances carried forward at 31.12.21
104,907
15,719
209,741
54,080
-
384,447		 Total
Funds
2020
£
(479)
(207)
(2,500)
-
(1,980)
(990)
(33)
_
(6,189)
(22,472)
_
6,683
-
__
6,683
871
(3,930)
_
3,624
354,987
_____
358,611

The notes on pages 11 to 16 form part of these financial statements

7

JANE GIBSON ALMSHOUSES

STATEMENT OF COMPREHENSIVE INCOME

FOR THE YEAR ENDED 31 DECEMBER 2021

Notes
TURNOVER
4
OPERATING COSTS
Operating deficit
Disposal of investments
10
Interest receivable and other income
6
SURPLUS ON ORDINARY ACTIVITIES
BEFORE TAXATION
7
Tax on surplus on ordinary activities
SURPLUS FOR THE YEAR		 2021
£
21,728
(21,533)
_

195
1,786
7,079
_

9,060
-
_

9,060		 2020
£
20,944
(22,472)
_
(1,528)
(3,059)
8,211
_
3,624
-
_
3,624

All operations are continuing.

The statement of comprehensive income contains all surpluses and deficits recognised in the current and preceding year.

The notes on pages 11 to 16 form part of these financial statements.

8

JANE GIBSON ALMSHOUSES STATEMENT OF OTHER COMPREHENSIVE INCOME

FOR THE YEAR ENDED 31 DECEMBER 2021

Surplus for the year
Unrealised surplus/(deficit) on investment (note 10)
Total surplus/(deficit) recognised since last annual report
Note of Historical Cost Surpluses and Deficits
Surplus on ordinary activities before taxation
Realisation of investment revaluation gains/(deficit) in prior years
Historical cost surplus on ordinary activities before and after taxation		 2021
£
9,060
21,776
_
30,836
2021
£
9,060
-
_
9,060		 2020
£
3,624
(3,930)
_
(306)

2020
£
3,624
-
_
3,624

The notes on pages 11 to 16 form part of these financial statements

9

JANE GIBSON ALMSHOUSES

STATEMENT OF FINANCIAL POSITION

AT 31 DECEMBER 2021

Notes
TANGIBLE FIXED ASSETS
Housing Properties – cost less depreciation
8
Site Improvements – cost less depreciation
8
Investments
10a
CURRENT ASSETS
Investments
10b
Debtors
11
Cash at bank - Current Account
- Deposit Accounts
Cash in hand
CREDITORS: Amounts falling due
within one year
12
NET CURRENT ASSETS
TOTAL ASSETS LESS CURRENT LIABILITIES
CREDITORS: Amounts falling due after more
than one year
13
CAPITAL AND RESERVES
Designated reserves
15
54,080
Revaluation reserve
16
104,907
Revenue reserve
17
209,741
General capital account
19
15,719
Restoration work fund
18
-
_		 2021
£
105,117
85,861
49,766
_
240,744
229,113
10,701
30,466
41,075
-
311,355
9,972
_
301,383
_
542,127
157,680
384,447
_
542,127		 2020
£
111,824
-
43,584
_
155,408

209,355
6,381
17,097
51,071
191
284,095
4,585
_
279,510
_
434,918

76,307
52,560
83,131
203,398
14,522
5,000
_
358,611
_
434,918

These financial statements were approved by the board of trustees and authorised for issue on ........................, and are signed on behalf of the board by:

The notes on pages 11 to 16 form part of these financial statements.

10

JANE GIBSON ALMSHOUSES

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2021

1. GENERAL INFORMATION

Jane Gibson Almshouses is a charity domiciled in England and Wales. Charity registration number 223223 and Housing Corporation register number A0567. The address of the registered office is 313 High Street West, Sunderland SR1 3ET.

2. STATEMENT OF COMPLIANCE

These financial statements have been prepared under the historical cost convention and in accordance with the provisions of FRS 102, the Housing and Regeneration Act 2008 and Charities Act 2011.

3. ACCOUNTING POLICIES

(a) Basis of Accounting

The financial statements are presented in Sterling (£), which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest pound.

(b) Turnover

Turnover shown comprises of rental income receivable in the year and grants receivable in the year, net of void properties.

(c) Housing Properties

Housing properties are properties held for the provision of social housing or to otherwise provide social benefit. Housing properties are stated at cost. Depreciation is charged so as to write down the cost of freehold housing properties, other than freehold land, to their estimated residual value on a straight line basis over their expected useful economic lives at the following annual rates:

Housing Properties:

Structure – 1% straight line
Roofing – 2.5% straight line
Kitchens – 5% straight line
Radiators – 5% straight line
External Doors –5% straight line
Windows –2.5% straight line
Bathrooms –5% straight line
Boilers –6.66% straight line
Fires –6.66% straight line

An element of the costs of the properties is the constituent fitments which are depreciated over a period ranging from 15 to 40 years from the date of installation. Subsequent costs incurred in replacing these assets are capitalised and depreciated over the length of period benefiting from these replacements. All other maintenance costs are charged to the income statement as incurred.

(d) Site Improvements

Depreciations is charged so as to write down the cost of the site improvement works to their estimated residual value on a straight line basis over their expected economic lives at the following annual rate:

Boundary wall and fences - 1% straight line

At each reporting date, goodwill and other fixed assets, including tangible fixed assets and investments but excluding investment properties, are assessed to determine whether there is an indication that the carrying amount of an asset may be more than its recoverable amount and that the asset should be impaired. If there is an indication of possible impairment, the recoverable amount of an asset, which is the higher of its value in use and its net realisable value, is estimated and compared with it's carrying amount. If the recoverable amount is lower, the carrying amount of the asset is written down to its estimated recoverable amount and an impairment loss is recognised in profit and loss.

(f) Social Housing Grant (S.H.G.)

Where developments have been financed wholly or partly by S.H.G., the cost of those developments are shown as deferred income, separate to the Housing property it relates to.

S.H.G. is repayable under certain circumstances, primarily following the sale of property, but will normally be restricted to net proceeds of sale.

Social housing grants are amortised in line with the assets useful economic lives and released as deferred income yearly.

11

JANE GIBSON ALMSHOUSES

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2021

3. ACCOUNTING POLICES (continued)

Other capital grants are amortised in line with the assets useful economic lives and released as deferred income yearly.

(h) Financial Instruments

(i) Designated Reserves

The charity has designated all those reserves which cannot be considered to be freely available.

(i) Cyclical Maintenance Fund

(ii) Extraordinary Repair Fund

(j) Investments

Investments are included at closing mid-market value at the balance sheet date. Any gain or loss on revaluation is credited or debited, respectively, to the revaluation reserve.

(k) Investment Income

Dividends are included in the statement of comprehensive income when they are declared at an amount which includes attributable tax credit and transitional relief.

4. TURNOVER

Turnover represents rental income receivable on 8 units of housing accommodation (2020: 8 units) as follows:

5.

2021 2020
£ £
Rents receivable (net of void losses) 18,425 18,495
Amortisation of social housing grant 2,448 2,449
Amortisation of other capital grants 855 -
______ _
21,728 20,944
Void losses included above, represent a proportion of the year when no rent was being received from the property
due to it being empty. There was no (2020: 1) void property in the year.
2021 2020
£ £
Voids - 132

Void losses included above, represent a proportion of the year when no rent was being received from the property due to it being empty. There was no (2020: 1) void property in the year.

EMPLOYEE INFORMATION

The charity has no employees.

The charity is controlled by trustees who received no remuneration during the year (2020: £nil).

6.

INTEREST RECEIVABLE AND OTHER INCOME

INTEREST RECEIVABLE AND OTHER INCOME
Investment income
Bank interest		 2021
£
7,073
6
_____
7,079		 2020
£
8,077
134
_
8,211

12

JANE GIBSON ALMSHOUSES

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2021

7.
SURPLUS ON ORDINARY ACTIVITIES BEFORE TAXATION
2021
£
This is stated after charging:
Examiners’ remuneration:
in their capacity as examiners (net of VAT)
1,733
in respect of other services
-
Depreciation
7,574
Amortisation of other capital grants
(855)
Amortisation of S.H.G.
(2,448)
8.
TANGIBLE FIXED ASSETS
Freehold
Site
Housing
Improvements
Property
£
£
COST OR VALUATION
At 1 January 2021
-
235,147
Additions
86,728
-
Disposals
-
-
_
_
At 31 December 2021
86,728
235,147
DEPRECIATION
At 1 January 2021
-
123,323
Charge for the year
867
6,707
Disposals
-
-
_
_

At 31 December 2021
867
130,030
NET BOOK VALUE
At 31 December 2021
85,861
105,117
At 31 December 2020
-
111,824
9.
SOCIAL HOUSING GRANT
2021
£
Total accumulated housing grant at 31 December 2021
145,950

Recognised in statement of comprehensive income
69,642
Held in deferred income
76,308
_
145,950
10.
INVESTMENTS
(a)
(b)
Fixed
Current
Asset
Asset
Investments
Investments
£
£
Market value at 1 January 2021
43,584
209,355
Interest reinvested
4,477
Net invested
(2,099)
Gains/(Losses)
Unrealised
6,182
15,594
Realised
1,786
__
_
Market value at 31 December 2021
49,766
229,113
Cost at 31 December 2021
8,993
164,979
Cost at 31 December 2020
8,993
160,816
Investment at market value comprised
UK Equities
74,984
UK Unit Trusts
154,129
COIF
49,766
_
_____
49,766
229,113		 2020
£
1,650
-
6,719
-
(2,449)
Total
Fixed
Assets
£
235,147
86,728
-
_
321,875
123,323
7,574
-
_
130,897
190,978
111,824
2020
£
145,950
67,195
78,755
_
145,950
Total
£
252,939
4,477
(2,099)
21,776
1,786
__
278,879
173,972
169,809
74,984
154,129
49,766
_____
278,879

13

JANE GIBSON ALMSHOUSES

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2021

11.
DEBTORS
Arrears of rent
Prepayments and accrued income
12.
CREDITORS: Amounts falling due
within one year
Accruals and deferred income
Social housing grant (note 14a)
Other capital grants (note 14b)
_
13.
CREDITORS: Amounts falling due
after more than one year
Social housing grant (note 14a)

Other capital grants (note 14b)

14.
SOCIAL HOUSING AND OTHER CAPITAL GRANTS
(a)
Social Housing Grant
Grant
At 1 January 2021

Disposals
__
At 31 December 2021

Amortisation
At 1 January 2021
Released in year
Disposals
At 31 December 2021
Net total at 31 December 2021
Net total at 31 December 2020
Amounts to be released within one year
Amounts to be released in more than one year		 2021
£
909
9,792
__
10,701
2021
£
6,668
2,449
855
_
9,972
2021
£
73,859
83,821

157,680
2021
£
145,950
-

145,950
67,194
2,448
-

69,642
76,308
78,756
2021
£
2,449
73,859
___
76,308
_
 2020
£
1,100
5,281
______
6,381

2020
£
2,136
2,449
-
______
4,585

2020
£
76,307
-
__
76,307
2020
£
146,230
(280)
_____
145,950
2020
£
76,307
-
______
76,307




65,025
2,449
(280)
______
67,194
78,756
81,205
2020
£
2,449
76,307
______
78,756

14

JANE GIBSON ALMSHOUSES

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2021

14. SOCIAL HOUSING AND OTHER CAPITAL GRANTS (continued)

(b)
Other Capital Grants
Grant
At 1 January 2021
Additions
At 31 December 2021
Amortisation
At 1 January 2021
Released in year
At 31 December 2021
Net total at 31 December 2021
Net total at 31 December 2020
Amounts to be released within one year
Amounts to be released in more than one year
15.
DESIGNATED RESERVES
Reserve for Cyclical Maintenance
At 1 January 2021
Transfer from revenue reserve
Spend
At 31 December 2021
Reserve for Extraordinary Repairs
At 1 January 2021
Transfer from revenue reserve
_
At 31 December 2021
Total designated reserves at 31 December 2021		 2021
£
-
85,531
__
85,531
-
855
_
855
84,676
-
2021
£
855
83,821

84,676
2021
£
14,610
520
-


15,130

2021
£
37,950
1,000
___

38,950

54,080		 2020
£
-
-
__
-
-
-
_
-
-
-
2020
£
-
-

-
2020
£
14,090
520
-
____
14,610

2020
£
36,950
1,000
_
37,950

52,560

The charity’s trustees have considered it prudent to set aside some part of the annual surplus to provide for:

(a) property maintenance which may occur on a cyclical basis and (b) major unplanned repairs which may occur from time to time.

16.

17.

REVALUATION RESERVE
At 1 January 2021
Revaluation during the year (note 10)
Transfer (from)/to designated reserves
At 31 December 2021

REVENUE RESERVE
At 1 January 2021

Surplus for the year
Transfer (from)/to designated reserves

At 31 December 2021
 2021
£
83,131
21,776

104,907

2021
£
203,398
9,060
(2,717)

209,741
 2020
£
87,061
(3,930
83,131

2020
£
197,364
7,554
(1,520

203,398

15

JANE GIBSON ALMSHOUSES

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2021

18.
RESTORATION WORK FUND
2021
£
At 1 January 2021
5,000
Deficit for the year
(6,197)
Transfer (from)/to revenue reserves
1,197
At 31 December 2021
-
Restoration works relate to restoring the walls and railings around the Almshouses. The work w
completed by 31 December 2021.
19.
GENERAL CAPITAL ACCOUNT
2021
£
At 1 January 2021
14,522
Almshouses contribution to restoration work
1,197
At 31 December 2021
15,719		 2020
£
5,000
-
5.000
as fully
2020
£
14,522
-
_
14,522

20. CAPITAL COMMITMENTS

At 31 December 2021 and 31 December 2020 there were no contracted for or authorised capital commitments.

21. CONTINGENT LIABILITIES

At 31 December 2021 and 31 December 2020 there were no known contingent liabilities.

22. RELATED PARTIES

In the years ending 31 December 2021 and 31 December 2020 there were no related parties.

16