Charity number: 225826
THE GEORGE WOOFINDIN ALMSHOUSES
TRUSTEES, REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

THE GEORGE WOOFINDIN ALMSHOUSES
CONTENTS
P3ge
Referènce and administrative details of the Charityi Its Trustees and advisers
Trustee5' report
Independent examlner's report
Statement of financial activities
Balance sheet
Notès to the financial statements
9-22

THE GEORGE WOOFINDIN ALMSHOUSES
REFERENCE ANO ADMINISTRATIVE DETAILS OF THE CHARITY, ITS TRUSTEES AND ADVISERS
FOR THE YEAR ENDED 31 MARCH 2023
Trustee5
G Connell
O Cooke
M B N Howard IresiEned 17 May 20231
N J A Hutton MBE (resigned 17 May 20231
S M Kendall, Chair
S Chufungleung (appointed 17 May 20231
C Nye lappointed 21 November 20221
Charlty reglstered number 225826
Principal office
Fowler Sandford
4th Floor Abbey House
Letspold Street
Sheffield
512GY
Secretary
J N Robinson MRICS
Bankers
National Westminister Bank plc
42 High Street
Sheffield
SI 2GE
Sollcltors
Knights plc
Commercial House
14 Cornmercial Street
Sheffield
SI 2AT
Independent examiner
Rachel Heath FCCA DChA
BHP LLP
2 Rutland Park
Sheffield
SIO 2PD
Page I

THE GEORGE WOOFINDIN ALMSHOUSES
TRUSTEES, REPORT
FOR THE YEAR ENDED 31 MARCH 2023
The trustees present their annual report together with the financial statements of the charity for the year ended 31 March
2023.
The trustees have adopted the provisions of the Statement of Recommended Practice.. ISORPI "Accounting and Reporting
by Charities" IFR51021 in preparing the trustees, report and financial statements of the charity.
The financial statements have been prepared in accordance with the accounting policie5 set out in note 2 to the accounts
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 IFR51021 published in October 2019.
Trustees
The trustees who have served during the year and since the year end were as follows..
G Connell
O Cooke
M B N Howard Iresigned 17 May 20231
N l A Hutton (resigned 17 May 20231
S M Kendall Chair
S Chufungleung lappointed 17 May 20231
C Nye (appointed 21 November 20221
Objectives und ¢7Ctivitie5
a. Pollcies and objectives
The objects of the charity are subject to the payments of management expenses, the trustees shall apply the income for
the benefit of the residents in the Almshtsu5es of the charity in suth a rnannei a% the trustees think fit from time to time.
b. Strategies for achieving objertive5
The charity does not actively fundraise, but appreciates the donations from the public. The charity does not use any
professional fundraiser or commercial participator to carry out activities on the charity's behalf.
Due to the low level of fundraising the charity undertakes, the charity is not a participant of a voluntary scheme for
regulating fundraising, or any voluntary standard of fundraising for the activities carried out on behalf of the charity.
Should the charity at some point in the future undertake a specific fundraising campaign or start to generate more income
through fundraisin& the trustees will look to sign up to a voluntary fundraising code.
c. Artivitie5 undertaken to achieve objective5
To provide accommodation in accordance with the aims and principles of The George Woofindin Almshouses. The
almshouse complex offers housing to between 2Q to 40 residents who are elderlv.
Page 2

THE GEORGE WOOFINDIN ALMSHOUSES
TRUSTEES, REPORT ICONTINUEDI
FOR THE YEAR ENDED 31 MARCH 2023
Oblectlves and actlvltles Icontlnuedl
d. Main activities undèrtakèn to further the Charity's purposes for the public benefit
The Trustees have referred to the guidance on public benefit issued by the Charity Commission when reviewing the
charitvs objectives and aims.
The charity has continued to meet its objettive by providing Almshouses atcommodation.
Within the constraints of its governing document the charity and its attivities are of benefit to the general public of
Sheffield.
e. HCA derègistration
The charity dere81Stered from the Hornes and Communities A8ency IHCAI on 15 January 2013. As part of this
deregistration, a charge was placed on the properties held by the charity dated 20 November 2012. This charge was one
of the conditions for deregistration and is the result of the confirmation from the HCA that all previously received grant
monies could 'rem3in in the ground, and is not recoverable by the HCA in the future. The Almhouses are therefore shown
as a restricted fund.
Achlevements undperfomiance
a. Key performance Indlcators
The managing agent monitors the quality of service delivery by regular contact with residents.
Finunciol review
a. Going concern
After making appropriate enquiries. the trustees have a reasonable expectation that the Charity has adequate resources
to Continue in operational existence for the foreseeable future. For this reason, they continue to adopt the going concern
basis in preparing the financial statements.
b. Financial review
The results for the year are set out in the Statement of Financial Activities on page 7 and the position at the year end is
shown in the Balance Sheet on page 8.
Income for the year totalled £130,35712022'. £125,159), an increase of £5,198 due to increased rental income in 2023 and
increased income from investments held. Expenditure for the year totalled £97,972 12022.. £116,641), a decrease of
£18,669, which is mainly due to reduced repair costs. Net intorne for the year before investment gains and losses was
£32,385 12022.. £8,5181. The net movement in funds which includes both reali5ed and unrealised 8ain5 and losses on
investment assets was a deficit of1£14,214112022.' £55,354).
At 31 March 2023 funds totalled £1,968,225 12022.. £1,982.4391 of which £299,58712022.. £295,439) are unrestritted
funds, £1,126,84812022.. £1,108,064) are restricted funds and £541,79012022.. £578,936) are endowrnent funds.
The trustees consider the state of affairs of the charity is satisfactory and that it is a going concern.
Page 3

THE GEORGE WOOFINDIN ALMSHOUSES
TRUSTEES, REPORT ICONTINUEDI
FOR THE YEAR ENDED 31 MARCH 2023
c. Reserves pollcy
The trustees have examined the charity's requirements ftsr reserve% in light of the main risks to the org3nisation, the aim
being that the organi5ation will hold reserves to a level, which would enable the organisation greater stability and that
stability is to the benefit of our organisational goals and our clients. The trustees feel that the organisation should aim to
hold 12 months operating costs in reserves as a minimum bearing in mind its obliEations as a property owner. The target
level of reserves based on current levels of operating tost5 15 therefore £65,000. At 31 March 2023 free reserves, which
are rnade up of the unrestricted fund5 not tied up in fixed assets and excluding designated fund5 were £138,05312022..
£168,905). It should be noted that £211,948 12022.. £226,479) of investment assets are included within unrestricted
reserves, the income from which is used to fund the charity's expenditure. The trustees consider it appropriate to hold
this level of reserves because it helps safeguard against uncertainty.
Structure. qovernqnce gnd manaqement
a. Methods of appointment or election of Trustees
New trustees are recommended by fellow trustees. Proposals for new trustees are considered at trustee meetings by all
trustee5, following which appointments are made by the Chair.
The induction process for any newly appointed trustee comprises discussion with the trustees regarding general policy,
powers and responsibilities. On appointment copies of the Eoverning documents together with trustee guidance
published by the Charity Commission are provided.
b. Or8anisational Structure and decision-making policies
The charity is governed by a charity commission scheme dated 6 February 1981. It is registered charity number 225826.
The tharity is administered and Managed by its board of trustees who meet at least twice per year. Trustees are
appointed for a five year period.
c. Pay policy for key management personnel
The trustees consider the Board of Trustees, its secretary and its managing agent comprise the management personnel of
the charity in charge of directing, controlling, running and operating the Charity on a day to day basis. All trustees give
their time freely without remuneration. Details of the managing agent charges are set out within the notes to the
accounts.
d. Flnanclal rSsk management
The trustees have assessed the major risks to whith the Charity is exposed, in particulèr those related to the operations
and finances of the Charity, and are satisfied that Systems and procedures are IN place to mitl8ate exposure to the major
Page 4

THE GEORGE WOOFINDIN ALMSHOUSES
TRUSTEES, REPORT ICONTINUEDI
FOR THE YEAR ENDED 31 MARCH 2023
Statement of Trustees, responslbllltSes
The trustees are responsible for preparing the Trustees, report and the fin3neial statements in accordance with applicable
law and United Kin8dom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
The law applicable to charities in England & Wales requires the trustees to prepare financial statements for each financial
vear which give a true and fair view of the state of affairs of the Charity and of its incoming resources and application of
resource%, including its income and expenditure, for that period. In preparing these financial statements, the trustees are
required to..
select suitable accounting policies and then apply them consistently,.
observe the methods and principles of the Charities SORP 2019 IFRS 1021,.
make judgments and atctsunting e5timate5 that are reasonable and prudent,.
state whether applicable UK Accounting Standard5 IFRS 1021 have been followed, subject to any material
departures disclosed and explained in the financial 5tatements,'
prepare the financial statements on the 80in8 concern basi5 unle55 It 15 inappropriate to presume that the Charity
will continue in operation.
The trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the
financial position of the Charity and enable them to ensure that the financial statements comply with the Charities Act
2011, the Charity (Accounts 3nd Report51 Regulations 2008 and the provisions of the Trust deed. They are a150 r8sponsible
for safeguarding the assets of the Charity and hence for taking reasonable steps for the prevention and detection of fraud
and other irregularities.
Approved by order of the members of the board of trustees and signed on their behalf bv..
S M Kendall
Date: Jan 4, 2024
Page 5

THE GEORGE WOOFINDIN ALMSHOUSES
INDEPENDENT EXAMINER'S REPORT
FOR THE YEAR ENDED 31 MARCH 2023
Independent Examlner's Report to the Trustees of The George Woofindln Almshouses I'the charlty'l
I report to the charity trustees on my examination of the accounts Of the charity for the year ended 31 Marth 2023.
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 20111.the 2011 Act'l.
I report in respect of my examination of the charity's account5 tarried out under Section 145 of the 2011 Att and in
carrying out my examination I have followed the applicable Directions given by the Charity Commission under section
14515llbl of the 2011 Act.
Independent Examlner's Statement
Your attention is drawn to the fatt that the charity has prepared the accounts in accordance with Accounting and
Reporting by Charities.. Statement of Recornmended Practice applicable to charities preparing their account5 in
accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 in preference to
the Accounting and ReportinÉ by Charities= Statement of Recommended Practice issued on l April 2005 which is referred
to in the extant regulations but has been withdrawn.
l understand that this has been done in order for the accounts to provide a true and fair view in accordance with the
Generally Accepted Accounting Practice effective for reporting periods beginning on or after I January 2015.
I have completed my examination. I confirm that no matters have come to my attention in connection with the
examination giving me cause to believe that in any material respect..
accounting record5 were not kept in respect of the charity as required by section 130 of the 2011 Act,. or
the account5 do not accord with those record5', or
the accounts do not comply with the applicable requirements concerning the form and content of accounts set
out in the Charitie5 (Accounts and Reports) Regulations 2(X)8 other than any requirement that the accounts give
'true and fair, view which 15 not a matter considered as part of an independent examination.
I have no concerns and have corne across no other matters in connection with the exarnination to which attention Should
be drawn in this report in order to enable a proper understanding of the accounts to be reached.
Signed..
Dated.. 3010112024
Rachel Heath FCCA DChA
BHP LLP
2 Rutland Park
Sheffield
SIO 2PD
Page 6

THE GEORGE WOOFINDIN ALMSHOUSES
STATEMENT OF FINANCIAL ACTIVITIES
FOR THE YEAR ENDED 31 MARCH 2023
Unrestricted
funds
2023
Restricted
funds
2023
Endowment
funds
2023
Total
funds
2023
Total
funds
2022
Notè
Income and
endowments from:
Charitable activities
112,056
112,056
109,846
Investments
18,301
18,301
15,313
Total income and
endowments
130,357
130,357
125,IS9
Expenditure on:
Raising funds
Charitable activities
1,428
63,540
3,650
5,078
5.475
29,354
92,894
111,166
Total expenditure
64,968
29,354
3,650
97,972
116,641
Net
incomellexpenditurel
before net
Ilossesllgains on
investments
65,389
129,3541
13,6501
32,385
8,518
Net Ilossesllgains on
investments
li
113,1031
133,4961
146,5991
46.836
Net Incomel
lexpenditurel
Transfers between funds
52,286
148,1381
129,3541
48,138
137,1461
114,2141
55.354
14
Net movement in funds
4,148
18,784
137,1461
114,2141
55,354
Reconciliatlon of funds..
Total funds brought
forward
295,439
4,148
1.108,064
18,784
578,936
137,1461
1.982,439
114,2141
1,927,085
55.354
Net movement in funds
Total funds carried
forward
299,587
1.126,848
541,790
1.968,225
1,982.439
The statement of financial activties include5 all gains and losses recognised in the year.
All income and expenditure derive from continuing activities.
Page 7

THE GEORGE WOOFINDIN ALMSHOUSES
BALANCE SHEET
AS A T31 MARCH 2023
2023
2022
Note
Fixed assets
Tangible assets
Investrnents
io
1.048,848
1,045.064
li
753,738
805,415
1,802,586
1,850,479
Current assets
Debtors
12
8,967
131,301
Cash at bank and in hand
167.878
175.218
140,268
Creditors.. amounts falling due within one year
13
19.5791
18,3081
Net turrent assèts
165,639
131,960
Total assets less current Ilabilltles
1.968,225
1,982.439
Total net assets
1.968,225
1,982,439
Charity funds
Endowment funds lincl. revaluation reserve
£92,87112022.' £103,218)
Restricted funds
14
541,790
578,936
14
1.126,848
1,108.064
Unrestricted funds lincl. revaluation reserve
£36,33112022.' £40,378>
14
299,587
295.439
Total funds
1.968,225
1,982,439
The financial statements were approved and authorised for issue by the Trustees and signed on their behalf by..
S M Kendall
Chair of Trustees
Date:
Jan 4, 2024
The notes on pages 9 to 22 form part of these financial statements.
Page 8

THE GEORGE WOOFINDIN ALMSHOUSES
NOTES TO THE FINANCIAL STATEMENT5
FOR THE YEAR ENDED 31 MARCH 2023
General Informatlon
The George Woofindin Almhou5es is a registered charity in the United Kingdom. The address of the registered
office is given in the charity information on page l of these financial statements. The nature of the charity's
operations and principal activities are detailed on pages 2 and 3.
Accountlng pollcles
2.1 Basls oyprepuratlon oAflnanclalstotements
The financial statements have been prepared in accordance with the Charities SORP IFRS 1021 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
IFRS 1021 lissued in October 20191, the Financial Reporting Standard applicable in the UK and Republic of
Ireland IFRS 1021 and the Charities Act 2011.
The financial statements have been prepared to give a 'true and fair, view and 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 Charities SORP IFRS 1021 published in October 2019 rather
than the Accounting and Reporting by Charities.. Statement of Recommended Practice effective from l April
2005 which has since been withdrawn.
The George Woofindin Almshouses meets the definition of a public benefit entity under FRS 102. Assets and
liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant
accounting policy.
The financial statements are prepared on a going concern basis under the historical cost convention, modified
to include certain items at fair value. The financial statements are prepared in sterling which is the functional
currency of the charity and rounded to the nearest £.
The significant accounting policies applied in the preparation of these financial statements are set out below.
These policies have been consistently applied to all years presented unless otherwise stated.
2.2 Going contern
The financial statements have been prepared on a goin8 concern basi5 as the trustees believe that no
material uncertainties exist. The trustees have considered the level of funds held and the expected level of
income and expenditure for 12 months from authorising these financial statements. The budgeted income
and expenditure is sufficient with the level of reserves for the charity to be able to continue as a going
concern.
2.3 Income
All income is recognised once the charity has entitlement to the income, it is probable that the income will be
received and the amount of income receivable can be measured reliably.
Income tax recoverable in relation to inve5tmenl income is recognised at the time the investment income is
receivable.
Other income is recognised in the period in which it is receivable and to the extent the goods have been
provided or on completion of the service.
Page 9

THE GEORGE WOOFINDIN ALMSHOUSES
NOTES TO THE FINANCIAL STATEMENT5
FOR THE YEAR ENDED 31 MARCH 2023
Accountlng pollcles Icontlnuedl
2.4 Expenditure
Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a
third party, it is probable that a transfer of economic benefits will be required in settlement and the amount
of the obligation can be measured reliably. Expenditure is classified by activity. The costs of each activity are
made up of the total of direct Costs and shared c05t5, including 5UPPOrt Costs involved in undertaking each
activity. Direct Costs attributable to a single activity are allocated directly to that activity. Shared costs which
contribute to more than one activity and support costs which are not attributable to a single activity are
apportioned between those activities on a basis consistent with the use of resources. Central staff costs are
allocated on the basi5 of time spent, and depreciation charge5 allocated on the portion of the asset's use.
Expenditure on raising funds includes all expenditure incurred by the charity to raise funds for its charitable
purposes and includes invesment management fees.
Expenditure on charitable activities is incurred on directly undertaking the activities which further the
charity's objectives, as well as any associated support tosts.
2.5 Interest receivoble
Interest on funds held on deposit is included when receivable and the amount can be measured reliably by
the Charity.. this is normally upon notification of the interest paid or payable by the institution with whom the
funds are deposited.
2.6 Tangiblefixed g55ets qnddepreciation
Tangible fixed assets costing £500 or more are capitalised and recognised when future economic benefits are
probable and the cost or value of the asset can be measured reliably.
Tangible fixed assets are initially reeognised at tost. After retognition, under the e05t model, tangible fixed
aS5et5 are measured at cost les5 accumulated depreciation and any accurnulated impairment losses. All costs
incurred to bring a tangible fixed asset into its intended working condition should be included in the
measurement of cost.
Depreciation 1% charged sts as to allocate the cost of tangible fixed assets less their residual value over their
estimated useful lives.
Depreciation is provided on the following basis..
Freehold propertv
50 years straight line charged annuallv
2.7 Investments
Fixed asset inve5tment5 are a form of financial instrument and are initially recogni5ed at their transaction cost
and subsequently measured at fair value at the balance sheet date, unless the value cannot be measured
reliably in which case it is measured at cost less impairment. Investment gains and losses, whether realised or
unreali5ed, are cornbined and pie5ented a5 'gains/l105se51 on investment5, in the statement of financial
Page 10

THE GEORGE WOOFINDIN ALMSHOUSES
NOTES TO THE FINANCIAL STATEMENT5
FOR THE YEAR ENDED 31 MARCH 2023
Accountlng pollcles Icontlnuedl
2.8 Debtors
Trade and other debtor5 are recogNised at the settlement amount after any trade di5COUNt offered.
Prepayments are valued at the amount prepaid net of any trade discounts due.
2.9 Cash ut bunk und In hund
Cash at bank and in hand intludes cash and %hort-term highly liquid investments with 3 short maturity of
three months or less from the date of acquisition or opening of the deposit or similar account.
2.10 Llublllties undprovlslons
Liabilities are recognised when there is an tsbli8ation at the Balance sheet date as a result of a past event, it is
probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement
can be estimated reliably.
Liabilities are recognised at the amount that the charity anticipates it will pay to settle the debt or the
amount it has received as advanced payments for the goods or services it must provide.
Provisions are measured at the best estimate of the amounts required to settle the obligation. Where the
effect of the time value of money is material, the provision is based ON the present value of those amount5,
discounted at the pre-tax discount rate that reflects the risks specific to the liability. The unwinding of the
discount is recognised in the Statement of financial activities as a finance cost.
2.11 FIn￿ne101 instruments
The charity only has financial assets and financial liabilitie5 of a kind that qualify as basic financial
instruments. Basic financial instruments are initially recognised at transaction value and subsequently
measured at their settlement value with the exception of bank loans which are subsequently measured at
amort15ed cost using the effective interest method.
Page 11

THE GEORGE WOOFINDIN ALMSHOUSES
NOTES TO THE FINANCIAL STATEMENT5
FOR THE YEAR ENDED 31 MARCH 2023
Accountlng pollcles Icontlnuedl
2.12 Fund occounting
General funds are unrestricted fund5 which are available for use at the discretion of the trustees in
furtherance of the general objectives of the charity and which have not been designated for other purposes.
Designated funds comprise unrestricted funds that have been set aside by the trustees for particular
purposes. The aim and use of eath designated fund is set out in the notes to the financial statements.
Cyclical Maintenance Fund
This designated reserve represents amounts allocated for cyclical maintenance to meet costs in excess of
future budgeted repairs expenditure. Actual expenditure incurred on cyclical maintenance is charged to the
Statement of Financial Artivities as part of the operating costs and transfers of funds are made between the
General Fund and the Cyclical Maintenance Fund to adjust the latter to the determined year end balance.
Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or
which have been raised by the tharity for particular purposes. The cost5 of raising and administering such
funds are charged against the specific fund. The aim and use of each restricted fund is Set out in the note5 to
the financial statements.
Investment income. gains and losses are allocated to the appropriate fund.
2.13 Repairs
Expenditure on cyclical repairs is charged in the Statement of Financial Activities in the year which it is
incurred, with a matching transfer from the designated reserve.
Critital attounting estimates and arèas of judgment
Estimates and judgments are continually evaluated and are based ON historical experience and other factor5,
including expectations of future events that are believed to be reasonable under the circumstances.
Critical accounting estimates and assumptions..
The tharity makes estimates and assumptions concerning the future. The resulting accounting estimate5 and
assumptions will, by definition, seldom equal the related actual results. There are no estirnates and assumptions
that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within
the next financial year.
Page 12

THE GEORGE WOOFINDIN ALMSHOUSES
NOTES TO THE FINANCIAL STATEMENT5
FOR THE YEAR ENDED 31 MARCH 2023
Income from charitable artivities
Unrestrleted
funds
2023
Total
funds
2023
Total
funds
2022
Rent
112,056
112.056
109,846
Total 2022
109.846
109,846
During the year voids totalled £6,54912022.. £5,2481.
Imiestment income
Unrestricted
funds
2023
Total
funds
2023
Total
funds
2022
Dividends and interest received
18,301
18,301
15,313
Total 2022
15,313
15,313
Investment management costs
Unrestrittèd
funds
2023
Endowment
fund5
2023
Total
funds
2023
Total
funds
2022
Investment management fees
1,428
3,650
5.078
5,475
Total 2022
1,665
3.810
5,475
Page 13

THE GEORGE WOOFINDIN ALMSHOUSES
NOTES TO THE FINANCIAL STATEMENT5
FOR THE YEAR ENDED 31 MARCH 2023
Analysis of expenditure on charitsble activities
Summary bylund type
Unrestricted
funds
2023
Restricted
funds
2023
Total
2023
Total
2022
Light and heat
Repairs
Gardening expenses
Management expenses
Insurances
3,385
3.385
2,604
20,900
5,101
15,200
5,435
6,638
462
20,9CNJ
5.101
15,2CNJ
5.435
6,638
462
47,493
4,676
15,200
5,068
546
Sundries
Cleaning
Monitoring expenses
Depreciation
Accountancy
Bank charges
Governance tosts (note 81
559
3,733
3,733
29.3S4
1,783
3,733
28,691
1,7S8
183
29,354
1,783
184
719
719
655
63,540
29,354
92,894
111,166
Total 2022
82,475
28,691
111,166
Governance costs
2023
2022
Independent examiner's fee
719
655
719
655
Independent examlner's fees
The Independent Examiner's remuneration amount5 to an Independent Exarnination fee of £71912022.. £6551, and
a charge for the preparation of statutory financial staterrents of £1,78312022.' £1,758).
Page 14

THE GEORGE WOOFINDIN ALMSHOUSES
NOTES TO THE FINANCIAL STATEMENT5
FOR THE YEAR ENDED 31 MARCH 2023
io.
Tanglble flxed assets
Freehold
property
Cost
At l April 2022
Additions
1.434,544
33,138
At 31 March 2023
1.467,682
Depreciution
At l April 2022
Charge for the year
389,480
29,354
At 31 March 2023
418,834
Net book v¢71ue
At 31 March 2023
1.¢)48,848
At 31 March 2022
1,045.064
Page 15

THE GEORGE WOOFINDIN ALMSHOUSES
NOTES TO THE FINANCIAL STATEMENT5
FOR THE YEAR ENDED 31 MARCH 2023
ii.
Fixed assèt investments
Listed
Investments
Total
2022
Total
2021
Cost or valuotion
At l April 2022
Additions
771,453
61,195
147,7531
771.453
61.195
147.7531
740,098
94,765
1110,2461
Disposals
Revaluations
146,5991
146.5991
46,836
At 31 March 2023
738,296
738,296
771,453
Investment cash
15,442
15.442
33,962
753.738
753.738
805.415
At 31 March 2023
Historical cost of listed investment5
624.536
624.536
627.857
12.
Debtors
2023
2022
Prepayments
Other debtors
1.4SO
2,017
3.873
1,341
1,765
5,861
Rent arrears
8,967
Page 16

THE GEORGE WOOFINDIN ALMSHOUSES
NOTES TO THE FINANCIAL STATEMENT5
FOR THE YEAR ENDED 31 MARCH 2023
13.
Creditors.. Amounts falling due within one year
2023
2022
Rent in advance
1.611
7,968
306
Accruals
8,(￿2
9.579
8.308
2023
2022
Deferred income
Deferred income at l April 2022
Resources deferred during the year
Amounts released from previous periods
306
726
1.611
13061
306
17261
DeJerred Income at 31 March 2023
1.611
306
Deferred income relates to rent in advance.
Page 17

THE GEORGE WOOFINDIN ALMSHOUSES
NOTES TO THE FINANCIAL STATEMENT5
FOR THE YEAR ENDED 31 MARCH 2023
14.
statement of funds
Statement of funds- current year
Balance at i
Aprll 2022
Transfers
Inlout
Gainsl
(Losses?
Balance at 31
March 2023
Income
Expendlture
Unrestricted
funds
De5ignotedAunds
Cyclical
maintenance
126.534
35,000
161,534
Generalfunds
General
168.905
130,357
164.9681
183,1381
113.1031
138,053
Total Unrestricted
funds
295.439
130,357
164.9681
148,1381
113.1031
299,587
Endowmentfvnd5
Investment funds
578,936
13,6501
133,4961
541,790
Restrlctedfunds
Almshouses
461.802
113.3411
33,138
481,599
Fixed asset fund
linc Shrewsbury
Hospital Funds)
Extraordinary
repair fund
583.262
116.0131
567,249
63,0
15,000
78,000
1,108,064
129,3541
48,138
1,126,848
Total oflunds
1,982,439
130,357
197.9721
146.5991
1,968,225
Page 18

THE GEORGE WOOFINDIN ALMSHOUSES
NOTES TO THE FINANCIAL STATEMENT5
FOR THE YEAR ENDED 31 MARCH 2023
14.
statement of funds Icontlnuedl
Statement of funds- prior year
Balance at
31 March
2022
Balance at
l April 2021
Transfers
in/out
Gainsl
(Losses)
Intome
Expenditure
Unrestricted
fund5
DesignottdAunds
Cyclical
maintenante
91,534
35,000
126,534
GeneralAunds
General
164,622
125,159
184,1401
149,9061
13,170
168,905
Totul Unrestrlcted
funds
256,156
125,159
184,1401
114,9061
13,170
295,439
Endowmentfvnds
Investment funds
549,174
13,8101
1941
33,666
578.936
Re5trictedfvnds
Almshouses
476,983
115,1811
461,802
Fixed asset fund
linc Shrewsburv
H05Pltal Fund51
Extraordinarv
repair fund
596,772
113,5101
583,262
48,000
15.000
63.000
1.121,755
128,6911
15.000
1,108.064
Totol ofAunds
1,927,085
125,159
1116,6411
46,836
1,982,439
Page 19

THE GEORGE WOOFINDIN ALMSHOUSES
NOTES TO THE FINANCIAL STATEMENT5
FOR THE YEAR ENDED 31 MARCH 2023
14.
statement of funds Icontlnuedl
De51
nzted funds
Cycllcal malntenance fund
The cyclical maintenance fund represents funds set aside by the trustees from income for the purposes of
providing for those iterns of ordinary maintenance and repair of the alm5hou5es and other property belonging to
the charity which occur at infrequent intervals.
Endowment funds
Endowment funds comprise investments which are held by the charity as permanent endowments in accordance
with the charity's trust deed.
Restricted funds
Almhouses
Almhouses represent the initial vesting of the properties from George Woofindin and subsequent monies granted
from the Homes and Communities Agency toward5 the upkeep of the Alm5hou5es. Amounts released represent
depreciation.
Shrewsbury Hospltal Fund
Shrewsbury H05Pltal Fund represents grant monies receivable for the renovation of the Almshouses. No work was
completed during the year.
Extraordlnary Repalr Fund
The extraordinary repair fund is a reserve fund for the purpose of providing for extraordinary repair, improvernent
or rebuilding of the almhouses and other property belonging to the charity. Annually, the trustee5 approve
transfers of sums of not less than £945 as required by the charity's trust deed.
Transfers between funds
A transfer of £15,000 has been made to the extraordinary repairs fund in accordance with charity's trust deed.
Transfers of £35,000 have been made to the cyclical maintenance fund in accordance with current guidelines from
the Almshouses AsSOClation. A transfer of £33,138 has been made from unrestricted to restritted funds to
represent the extent to which the charity fund5 are invested ON the Almhou5es.
Page 20

THE GEORGE WOOFINDIN ALMSHOUSES
NOTES TO THE FINANCIAL STATEMENT5
FOR THE YEAR ENDED 31 MARCH 2023
15.
Summary offunds
Summary of funds- turrent year
Balance at i
Aprll 2022
Transfers
Inlout
Gainsl
(Losses?
Balance at 31
March 2023
Income
Expendlture
Designated funds
General funds
126.534
35,000
183,1381
161,534
168.905
130,357
164.9681
13.6501
129.3541
113.1031
133.4961
138,053
$41,790
1.126,848
Endowment funds
578.936
1,108.064
Restricted funds
48,138
1,982.439
130,357
197.9721
146.5991
1,968,225
Summary of funds- prior year
Balance at
31 March
2022
Balance at
l April 2021
Transfers
in/out
Gainsl
(Losses)
Incorne
Expenditure
Designated fund5
General funds
91,534
164,622
35,000
149.9061
1941
15.000
126,534
168.905
125.159
184,1401
13,8101
128,6911
13,170
Endowrnent funds
549,174
1,121,755
33,666
578,936
1,108.064
Restricted funds
1,927,085
125.159
1116.6411
46,836
1,982.439
16.
Analysls of net assets between funds
Analysis of nèt assets betwèen funds- current year
Unrestrirted
funds
2023
Restricted
funds
2023
Endowment
funds
2023
Total
funds
2023
Tangible fixed assets
Fixed asset investments
1,048,848
1.1)48,848
753,738
211,948
97,218
19,5791
541.790
Current assets
78,000
175,218
19,5791
Creditors due within one year
Totul
299,587
1,126.848
541,790
1.968,225
Page21

THE GEORGE WOOFINDIN ALMSHOUSES
NOTES TO THE FINANCIAL STATEMENT5
FOR THE YEAR ENDED 31 MARCH 2023
16.
Analysls of net assets between funds Icontlnuedl
Analysis of net assets between funds- prior year
Unrestricted
funds
2022
Restricted
funds
2022
Endowment
funds
2022
Total
funds
2022
Tangible fixed assets
Fixed asset investments
1,045,064
1,045,064
805.415
226,479
578,936
Current assets
77,268
18,3081
63,000
140,268
18.3081
Creditors due within one year
Total
295,439
1,108.064
578,936
1,982.439
17.
Related party transactlons
The charity is managed on a day to day basis by Fowler Sandford who as manaeing aeents are deemed to be
related parties.
Creditors as at 31 March 2023 include £2,550 12022.. £2,550) due to Fowler Sandford. Management charges
include £10.20012022-. £10,200) charged by Fowler Sandford.
Mr N R B Robinson, previous secretary to the charity charged £5,00012022'. £5,000) in relation to management
charges during the year. Creditors as at 31 March 2023 include £1,25012022.' £1,250) due to N R B Robinson.
Taxation
The charity 15 considered to pass the tests Set out in Sch. 6, para. l of the Finance Act 2010 and therefore it rneets
the definition of a charity for UK income tax purposes. Accordingly, the charity is potentially exempt from taxation
in respect of income or capital gains received within categories covered by Income Tax Act 2007, Part 10 s521
s537 or s. 256 of the Taxation of Chargeable Gains Act 1992, to the extent that such income or gains are applied
eKcIu5ively to charitable purpose5.
Page 22