REGISTERED CHARITY NUMBER: 227364
REPORT OF THE TRUSTEES AND
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
FOR
W H SAUNDERS & FRANK WAREHAM CHARITY
Carter & Coley Chartered Accountants 3 Durrant Road Bournemouth Dorset BH2 6NE
W H SAUNDERS & FRANK WAREHAM CHARITY
CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023
| Page | |
|---|---|
| Report of the Trustees | 1 to 2 |
| Independent Examiner's Report | 3 |
| Statement of Financial Activities | 4 |
| Balance Sheet | 5 to 6 |
| Notes to the Financial Statements | 7 to 14 |
| Detailed Statement of Financial Activities | 15 to 16 |
W H SAUNDERS & FRANK WAREHAM CHARITY
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2023
The trustees present their report with the financial statements of the charity for the year ended 31 December 2023. The trustees have adopted the provisions of 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 (FRS 102) (effective 1 January 2019).
OBJECTIVES AND ACTIVITIES
Objectives and aims
The Charitable objectives are the provision of housing accommodation for people who are in hardship, distress and are resident in Hampshire and Dorset with a preference for those who are over 60 years of age and who are unable to maintain themselves by their own exertions.
Significant activities
The charity has continued to maintain its housing stock to a high standard for the benefit of its residents.
FINANCIAL REVIEW
Financial position
The Trustees are satisfied with the financial state of the Charity.
Principal funding sources
The principal source of funds is rents and service charge income.
Reserves policy
The Trustees aim to maintain a working capital of £50,000 with any surplus being applied to reduce long term loans.
FUTURE PLANS
The charity is about to commence a new build at the Ringwood Road site of an office, communal meeting room and an area where mobility scooters can be safely parked and recharged.
The work is scheduled to start in March 2024 and should be completed in 6 months. The anticipated building cost is £322,000 plus VAT and will be financed from reserves and a £257,000 loan from Charity Bank.
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
The charity is controlled by a scheme of the Charity Commissioners dated 8th April 2022.
REFERENCE AND ADMINISTRATIVE DETAILS
Registered Charity number
227364
Page 1
W H SAUNDERS & FRANK WAREHAM CHARITY
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2023
Principal address 843a Ringwood Road Bournemouth Dorset BH11 8LJ
Trustees
T Smith J Richardson D Rixon
Independent Examiner
Carter & Coley Chartered Accountants 3 Durrant Road Bournemouth Dorset BH2 6NE
Approved by order of the board of trustees on 26 February 2024 and signed on its behalf by:
T Smith - Trustee
Page 2
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF W H SAUNDERS & FRANK WAREHAM CHARITY
Independent examiner's report to the trustees of W H Saunders & Frank Wareham Charity
I report to the charity trustees on my examination of the accounts of W H Saunders & Frank Wareham Charity (the Trust) for the year ended 31 December 2023.
Responsibilities and basis of report
As the charity trustees of the Trust 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 Trust's accounts carried out under Section 145 of the Act and in carrying out my examination I have followed all 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:
-
accounting records were not kept in respect of the Trust as required by Section 130 of the Act; or
-
the accounts do not accord with those records; or
-
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.
A R Cooke FCA
Carter & Coley Chartered Accountants 3 Durrant Road Bournemouth Dorset BH2 6NE
26 February 2024
Page 3
W H SAUNDERS & FRANK WAREHAM CHARITY
STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2023
| Notes INCOME AND ENDOWMENTS FROM Donations and legacies Other trading activities 2 Investment income 3 Total EXPENDITURE ON Raising funds Charitable activities Support Total NET INCOME RECONCILIATION OF FUNDS Total funds brought forward TOTAL FUNDS CARRIED FORWARD |
2023 Unrestricted funds £ - 137,429 349 137,778 62,753 53,805 116,558 21,220 1,934,331 1,955,551 |
2022 Total funds £ 1,209,732 134,709 193 |
|---|---|---|
| 1,344,634 | ||
| 69,971 53,828 |
||
| 123,799 | ||
| 1,220,835 713,496 |
||
| 1,934,331 |
The notes form part of these financial statements
Page 4
W H SAUNDERS & FRANK WAREHAM CHARITY
BALANCE SHEET 31 DECEMBER 2023
| Notes FIXED ASSETS Tangible assets 7 Investments 8 CURRENT ASSETS Debtors 9 Cash at bank CREDITORS Amounts falling due within one year 10 NET CURRENT ASSETS TOTAL ASSETS LESS CURRENT LIABILITIES CREDITORS Amounts falling due after more than one year 11 NET ASSETS |
2023 Unrestricted funds £ 1,741,721 4,161 1,745,882 5,506 207,893 213,399 (3,730) 209,669 1,955,551 - 1,955,551 |
2022 Total funds £ 1,743,081 4,161 1,747,242 1,501 276,697 278,198 (16,131) 262,067 2,009,309 (74,978) 1,934,331 |
|---|---|---|
The notes form part of these financial statements
Page 5
W H SAUNDERS & FRANK WAREHAM CHARITY
BALANCE SHEET - continued 31 DECEMBER 2023
| FUNDS 13 Unrestricted funds TOTAL FUNDS |
1,955,551 1,955,551 |
1,934,331 |
|---|---|---|
| 1,934,331 |
The financial statements were approved by the Board of Trustees and authorised for issue on 26 February 2024 and were signed on its behalf by:
T Smith - Trustee
J Richardson - Trustee
The notes form part of these financial statements
Page 6
W H SAUNDERS & FRANK WAREHAM CHARITY
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023
1. ACCOUNTING POLICIES
Basis of preparing the financial statements
The financial statements of the charity, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) '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 (FRS 102) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Charities Act 2011. The financial statements have been prepared under the historical cost convention, with the exception of investments which are included at market value.
Income
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.
Expenditure
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, 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 accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.
Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Freehold property - 2% on cost
Taxation
The charity is exempt from tax on its charitable activities.
Fund accounting
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.
Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.
Page 7
W H SAUNDERS & FRANK WAREHAM CHARITY
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2023
| 2. OTHER TRADING ACTIVITIES Property rents Rent losses from voids and bad debts Service charges 3. INVESTMENT INCOME Dividends 4. AUDITORS' REMUNERATION Fees payable to the charity's auditors for the audit of the charity's financial statements |
2023 £ 128,391 (2,456) 11,494 137,429 2023 £ 349 2023 £ - |
2022 £ 123,769 - 10,940 |
|---|---|---|
| 134,709 | ||
| 2022 £ 193 2022 £ 2,400 |
5. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the year ended 31 December 2023 nor for the year ended 31 December 2022.
Trustees' expenses
There were no trustees' expenses paid for the year ended 31 December 2023 nor for the year ended 31 December 2022.
Page 8
W H SAUNDERS & FRANK WAREHAM CHARITY
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2023
6. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
| INCOME AND ENDOWMENTS FROM Donations and legacies Other trading activities Investment income Total EXPENDITURE ON Raising funds Charitable activities Support Total NET INCOME RECONCILIATION OF FUNDS Total funds brought forward TOTAL FUNDS CARRIED FORWARD |
Unrestricted fund £ 1,209,732 134,709 193 1,344,634 69,971 53,828 123,799 1,220,835 713,496 1,934,331 |
|---|---|
Page 9
W H SAUNDERS & FRANK WAREHAM CHARITY
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2023
| 7. TANGIBLE FIXED ASSETS COST At 1 January 2023 Additions At 31 December 2023 DEPRECIATION At 1 January 2023 Charge for year At 31 December 2023 NET BOOK VALUE At 31 December 2023 At 31 December 2022 8. FIXED ASSET INVESTMENTS MARKET VALUE At 1 January 2023 and 31 December 2023 NET BOOK VALUE At 31 December 2023 At 31 December 2022 |
Freehold property £ 1,840,782 5,040 1,845,822 97,701 6,400 104,101 1,741,721 1,743,081 Listed investments £ 4,161 4,161 4,161 |
|---|---|
There were no investment assets outside the UK.
Page 10
W H SAUNDERS & FRANK WAREHAM CHARITY
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2023
| 9. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 2023 £ Prepayments and accrued income 5,506 10. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 2023 £ Bank loans and overdrafts (see note 12) - Other creditors 3,730 3,730 11. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR 2023 £ Bank loans (see note 12) - 12. LOANS An analysis of the maturity of loans is given below: 2023 £ Amounts falling due within one year on demand: Bank loans - Amounts falling due between two and five years: Bank loans - 2-5 years - Amounts falling due in more than five years: Repayable by instalments: Bank loans due in more than 5 years by instalments - |
2022 £ 1,501 2022 £ 4,269 11,862 |
2022 £ 1,501 |
|---|---|---|
| 16,131 | ||
| 2022 £ 74,978 |
||
| 2022 £ 4,269 |
||
| 17,075 | ||
| 57,903 |
Page 11
W H SAUNDERS & FRANK WAREHAM CHARITY
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2023
13. MOVEMENT IN FUNDS
| At 1/1/23 £ Unrestricted funds General fund 1,934,331 Extraordinary Repair Fund and Cyclical Maintenance Fund - 1,934,331 TOTAL FUNDS 1,934,331 Net movement in funds, included in the above are as follows: Unrestricted funds General fund TOTAL FUNDS Comparatives for movement in funds Unrestricted funds General fund TOTAL FUNDS |
Net movement in funds £ 21,220 - 21,220 21,220 Incoming resources £ 137,778 137,778 At 1/1/22 £ 713,496 713,496 |
||
|---|---|---|---|
Page 12
W H SAUNDERS & FRANK WAREHAM CHARITY
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2023
13. MOVEMENT IN FUNDS - continued
Comparative net movement in funds, included in the above are as follows:
| Unrestricted funds General fund TOTAL FUNDS |
Incoming resources £ 1,344,634 1,344,634 |
Resources expended £ (123,799) (123,799) |
Movement in funds £ 1,220,835 1,220,835 |
|---|---|---|---|
A current year 12 months and prior year 12 months combined position is as follows:
| Unrestricted funds General fund Extraordinary Repair Fund and Cyclical Maintenance Fund TOTAL FUNDS |
At 1/1/22 £ 713,496 - 713,496 713,496 |
Net movement in funds £ 1,242,055 - 1,242,055 1,242,055 |
Transfers between funds £ (10,000) 10,000 - - |
At 31/12/23 £ 1,945,551 10,000 |
|---|---|---|---|---|
| 1,955,551 | ||||
| 1,955,551 |
A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:
| Incoming resources £ Unrestricted funds General fund 1,482,412 TOTAL FUNDS 1,482,412 |
Resources Movement expended in funds £ £ (240,357) 1,242,055 (240,357) 1,242,055 |
|---|---|
Page 13
W H SAUNDERS & FRANK WAREHAM CHARITY
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2023
14. RELATED PARTY DISCLOSURES
There were no related party transactions for the year ended 31 December 2023.
Page 14
W H SAUNDERS & FRANK WAREHAM CHARITY
DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2023
| INCOME AND ENDOWMENTS Donations and legacies Exceptional items Other trading activities Property rents Rent losses from voids and bad debts Service charges Investment income Dividends Total incoming resources EXPENDITURE Raising donations and legacies Rates and water Insurance Communial expenses Sundries Routine maintenance Depreciation of tangible fixed assets Support costs Management Postage and stationery Management expenses Support worker Office rent |
2023 £ - 128,391 (2,456) 11,494 137,429 349 137,778 287 3,292 9,211 2,526 41,037 6,400 62,753 4,251 1,102 35,698 5,894 46,945 |
2022 £ 1,209,732 123,769 - 10,940 |
|---|---|---|
| 134,709 193 |
||
| 1,344,634 271 1,898 10,366 2,456 48,580 6,400 |
||
| 69,971 2,403 32,550 1,525 5,696 |
||
| 42,174 |
This page does not form part of the statutory financial statements
Page 15
W H SAUNDERS & FRANK WAREHAM CHARITY
DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2023
| Management Finance Bank charges Bank loan interest Governance costs Auditors' remuneration Accountancy and legal fees Total resources expended Net income |
2023 £ 102 5,258 5,360 - 1,500 1,500 116,558 21,220 |
2022 £ 72 5,273 |
|---|---|---|
| 5,345 2,400 3,909 |
||
| 6,309 | ||
| 123,799 | ||
| 1,220,835 |
This page does not form part of the statutory financial statements
Page 16