THE ROBERT f•AiTER ALMSfrK>U8E8. F>UDSEY THE ROBERT SALTER CHARITY Charty Reglstration Number: 225866 Housing Corporation Registration Number: A3590 Report and Accounts For the Year Ended 31" March 2022
THE ROBERT SALTER CHARITY Report and Flnanclal Statements For the Year Ended 31 March 2022 Contents Page Trustees, Annual Report Statement of Financial Activities Balance Sheet Notes to the accounts 8-12
The charity has no paid employees. Key risks and uncertalnties The major risks to the charity are: Poor occupancy rates resulting In reduced income and potentially higher expenditure. Loss of trustees and the ability to properly administer the charity. Damage to properties (insurance is in place to mitigate this risk). Approved by the trustees and signed on their behalf by: Damon Sugden, Chalrman
Balance Sheet as at 31 March 2022 2022 2021 Note Flxed Assets Houslng Properties Investments 16,493 790 17,283 42,649 790 43.439 Current Assets Debtors Cash at Bank 598 71,604 72,202 68,560 68,560 Creditors (amounts due within one year Net Current Assets Total Assets less current Llabllltles 448 605 68,112 85.395 71,597 115,036 Credltors Amounts failin8 due after more than one year 20,321 10 Net Assets 85.395 94,715 Charfty Funds Unrestricted Revenue Reserves Designated Maintenance Reseryes Total Funds 11 12 53,064 32,331 85.395 64,884 29,831 94,715 Ih The financial statements were approved on behalf of the Trustees on 11 January 2022 and signed on their behalf by'.- Damon Sugden, Chalrman Graham Booth, Treasurer
The rehabllllatlon expendlture Is depreclated by maklnB perlodlc char8es for depreclatlon In the Income and expendlture account equlvalent to related loan prlnclpal repayments In the year over the perlod of the loan. 8) Cycllcal Malntenanc• Fund Accrued cycllcal malntenance, beln8 the Charlty's Ilablllty to malntaln the Almshouses In accordance wlth the Trustees, planned programme of work,15 provlded for the extent that It Is probable that the provlsSon w511 be fully utlllsed over the course of the malntenance cycle. External decoratlon and the decoratlon of Interlors Is planned to take place every three to four vears. h) Extraordlnary Repalr Fund This provlslon reflects the Charlty's accruln8 Ilablllty to meet the cost of major repairs to the structure of the Almshouses. l) Debtors Trade and other debtors are recorded at the settlement amount due. Prepayments are valued at the amount prepaid. J) Creditors Creditors are recorded as the actual amount committed for expenditure. These are payments relating to the financial year reported on but still outstanding at that year end.
Notes to the Att unts Income From Charltable Actlvltles Weekly malntenance contrlbutlons recelved from resldents 2022 26,04S 2021 23,843 Income Fmm Charltable Artlvltles Investment Income - NAACIF - Income 2022 2021 79 Expendtture On Charltable Artlvitles Water Charges Insurance Routine Repairs Gardening Subscriptions Depreciation Sundry Expenditure Empty Property Related Sub Total 2022 1.488 1,229 3.761 1,120 506 5.955 160 2021 1,430 1,195 9.319 1,730 480 7.100 89 1,083 22,426 14,220 Mortgage Interest Costs Mortgage Interest 903 1,424 10
- Credltors- Amounts Due after more than one year Outstanding Mortgage Balance 2021 20,321 Mort8age was secured by a charge on the Charlty's land and bulldln8s, being a loan repayable by equal annual instalments of prlncipal and Interest where the last Instalments fell due in October
- The loan boar an Interest rate of 6.5% per annum. Loan capltal repaid in year amounted to £2,542. The trustees took the declslon to repay thos loan early In full during the 2021122 financial year. 2022
- Unrestrlrted Funds At l April Surplus / (Loss) for year on normal activities Early repayment of loan Transfers to Designated Maintenance Funds At 31 March 2022 64,884 11,( -20,321 -2,500 2021 67,307 77 -2.5 53,063 64.884
- Designated Malntenance Funds Cyclical Malntenance Fund 12,427 Extraordinary Repalr Fund Total As At l April 2021 Expenditure in Year Transfers from Unrestricted Fund Balance at 31 March 2022 17,404 29.831 1,000 13,427 1,500 18,904 2,500 32,331 The Scheme established on 24th August 1988 for the regulation of the Charity directs that a Cyclical Maintenance Fund and an Extraordinary Repairs Fund be maintained and that transfers thereto be made of annual instalments of £700 and £525. Currently transfers are set at £1,500 and £I,CM)O respectably, although these amounts will be reviewed during 2022123. 12