## PONTEFRACT and ACKWORTH ALMSHOUSE CHARITY COMMENTS ON THE ACCOUNTS FOR YEAR ENDED 31[ST] DECEMBER 2021 ## **INCOME** The Year 2021 has been another very difficult and frustrating one for us all but, a successful one financially and in the appreciation received from residents at the social events for the excellent condition of the almshouses and the quality of service received particularly from Andrea and the workmen we employ. ALMSHOUSES Delays in filling the vacancies were inevitable as renovations, decorations, and utility services had to be maintained and paid for during the vacancy periods.. Fortunately Andrea was able to liaise with our workforce to minimise the length of time before the properties were ready and we could arrange to interview applicants. Maintenance contributions were up almost 7% at £37,562 as we were able to increase contributions on the renovated almshouses and we now have 100% occupancy. ## PROPERTIES After a difficult few months chasing the agents for late rents on 34, Micklegate we are now getting regular payments by Standing Order from Logic. The Year ended with rents at £11,387 slightly over Budget. LAND RENTS The nominal £298 received was for the rent on Carter’s land at Sowgate Lane. This will now cease altogether following the sale of the arable land to the Tenants, the Carter family for £40,000 less costs [Net £39,004} The Sale included a potential clawback clause covering us in case of the Land being sold on for building purposes at a much higher price. ## INVESTMENT INCOME CCLA dividends increased over the 12 months by 8% at £31,023 and our Income for the year rose to £119,275 thanks mainly to the £39,004 sale proceeds of the Carter Land. ## **EXPENDITURE** Most of the items of expenditure are similar to 2020 as Covid again restricted or even prevented any work not considered essential. Almshouse repairs are detailed on the ‘Repairs Sheet’. At Wards[Love Lane] we have replaced the front doors on all 4 almshouses, a big improvement and we also contributed £1200 , our share of the cost of renewing the fence between Love Lane and the neighbouring bungalow. The large scale repairs to the Robsons structure will hopefully take place this year. Also on the Repairs Sheet you will see that Andrea and John organised an outing to the City Varieties in Leeds to see the Old Time Musical which was thoroughly enjoyed by all the almshouse residents. The Xmas Lunch at King’s Croft was an excellent event and, it was refreshing to see the residents, throwing off the shackles of the Covid restrictions with their energetic dancing. ## **MISCELLANEOUS** Under this heading on the ‘Repairs Sheet’ will be the cost of Utilities £1266.09, most of which was on the almshouses empty for a few months pending renovations, decorating etc and appointment of new Almspeople. Similarly these delays meant we overran the Council Tax free allowance on empty properties £366.34. It was also agreed that we purchase, for the Almshouses, an invalid carriage initially for use by Ian Wood who Is rapidly losing ability to walk because of his M.S.condition. Thus this Section at £4735 is much higher than we normally see and, probably, we will see a much lower figure in future. ## **OVERAL** L We see an excess of income of £53,973 on the year but, of course, £39,004 of this is due to the sale of Sowgate Lane land so the income excess is more realistically £14,969. ## **INVESTMENTS** As well as the increase in Dividends we see a vast increase in values of the various funds amounting to £272,996 in the 12 month period, some 15.64% at £2,017,802 which increases Total Assets to some £3,268,018 with Properties conservatively valued at £1,157,923. Since the year end we have invested a further £55,000 [Carter Sales of £39,004 plus part of Bank Balances] into further income units in the Building Fund which will take that fund alone to some £468k at present prices with the prospect of further increases in dividends pending the availability of suitable land on which to build more almshouses. Whilst our Bank Balances will take a hit with this investment we still have some £35k of liquid funds and can ,if necessary, sell units in the Emergency Repair Fund [Present value£462,437] to supplement renovation costs. Hopefully 2022 will be a better year for residents, Trustees and all involved with the Charity. Ron Firth Hon. Treasurer 22[nd] January 2022 **PONTEFRACT and ACKWORTH ALMSHOUSE CHARITY Reg No 223334 INCOME and EXPENDITURE for the year ending 31st December 2021** **INCOME** ALMSHOUSES Contributions to Maintenaince **Total Almshouse Income** PROPERTIES Rents **TOTAL Propety Income OTHER INCOME** Land Rents Dividends COIF Bank Interest COIF Dep Interest Net SALE to COPLEY'S NET SALE TO CARTER'S **TOTAL Other Income GRAND TOTALS** ||||| |---|---|---|---| ||||| |**2020**|**2021**|**EXPENDITURE**|**2020**| |||ALMSHOUSES|| |35098.90|37561.92||| |||Insurances|2359.28| |||Repairs(Less Refunds)|27292.76| |||Gardener|6400.00| |||TV Licences|15.00| |||Advertising|| |||Xmas Treats(less refunds)|455.00| |**35098.90**|**37561.92**|Carelink(less refunds)|6925.95| |||Valuations Copley/Carter|670.00| |||Land Inspection Halfpenny|| |||MeetingRoom|1284.88| |9537.95|11386.94|Miscellaneous(cf repair notes)|1106.58| |||Summer Treats|0.00| |**9537.95**|**11386.94**|Expenses New Almshouses|| |||Land Title Registration|| |818.00|298.00|CopleyLand Sale Fees|| |28670.10|31023.13|**TOTAL ALMSHOUSES**|**46509.45**| |0.02|0.00|**PROPERTIES**|| |32.20|1.61|Repairs|2090.71| |58970.53||Insurance|359.16| ||39004.00|**TOTAL PROPERTIES**|**2449.87**| |||**OTHER EXPENDITURE**|| |**88490.85**|**70326.74**|Clerk's Hon|6458.26| |||Clerk's Expenses|273.97| |||RepayCapital COIF|350.00| |**133127.70**|**119275.60**|EmergencyRepFund COIF|3000.00| |||NAA Subs|281.00| |||Postage/Stationery|121.57| |||Audit Fee|250.00| |||Treasurer's Hon|4274.96| |||Treasurer's Expenses|0.00| |||Invest BuildingFund|60000.00| |||**TOTALS OTHER EXPEND**|**75009.76**| |||**TOTALS**|**123969.08**| |||**Plus Surplus/Deficit**|**9158.62**| |||**GRAND TOTALS**|**133127.70**| |||| |---|---|---| |||| |**Surplus/Deficit**|**2021**|**Surplus/Deficit**| |||| |||| ||2469.77|| ||26817.49|| ||6600.00|| ||37.50|| ||55.50|| ||1258.77|| ||6349.76|| |||| |||| ||475.67|| ||4735.47|| ||597.16|| |||| |||| |||| |**-11410.55**|**49397.09**|| |||| ||545.00|| ||256.48|| |**7088.08**|**801.48**|| |||| ||6500.00|| ||299.77|| ||350.00|| ||3000.00|| ||295.00|| ||108.57|Inc Shredder £37.99| ||250.00|| ||4300.00|| ||0|| |||| |**13481.09**|**15103.34**|| |**9158.62**|**65301.91**|| ||**53973.69**|| ||**119275.60**|| ¥aE 84M aJ14SWOA ejiaiuod ¥jMpJeH )se3 48ia14YON TI sa￿•$ A)uEwno￿v a ? 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