**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:
1. accounting records were not kept in respect of the Trust as required by Section 130 of the Act; or
2. the accounts do not accord with those records; or
3. 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