2022-12-31-accounts - The Cuckfield Cottage Homes Trust

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ANNUAL REPORT

ANN

Annual Report & Accounts Year to 31[st] December 2022

ANNUAL REPORT AND ACCOUNTS 2022

1. LEGAL AND ADMINISTRATIVE SUMMARY

1.1. Objectives of the Charity (Commission No 229475)

(1) Established by conveyance from the estate of Miss Mary Frances Maberly to the Vicar of Cuckfield and others (the Trustees) on 31 December1885, the Cottages “forever and hereafter” to be used by “aged and infirm persons” over the age of 60, residents of the ecclesiastical parish of Cuckfield, of limited means and communicants of the Church of England.

(2) Modified by New Scheme of 31[st] January 2007, to provide “housing accommodation for persons who are in need, hardship or distress, and are 60 or over and followers of a Christian faith”, resident in the Deanery of Cuckfield, preference being given to members of the Church of England and residents of the Parish of Cuckfield.

1.2. Address of the Properties:

Cuckfield Cottage Homes Church Platt Cuckfield Nr Haywards Heath West Sussex RH17 5LA

HSBC 40 South Road Haywards Heath West Sussex RH16 4LB

1.3. Trustees during 2022:

Revd Michael Maine (to April) Chair Stephen Gaimster Clerk Terry Bevan Treasurer Ross Bradshaw Jane Crampton Roger Edmonston Vicki Gracie-Langrick Tim Howell Marion Petitpierre (from May) Chair

1.4. Bankers:

ANNUAL REPORT AND ACCOUNTS 2022

1.5. Correspondence Addresses:

The Vicarage 5 Barrowfield Cuckfield West Sussex RH17 5ER

Terry Bevan ( Hon. Treasurer ) White House Whitemans Green Cuckfield West Sussex RH17 5BY

1.6. Trustees Statement

The Cuckfield Cottage Homes Trust Annual Report and Accounts for the year ended 31[st] December 2022, were approved by the Trustees on 30[TH] May 2023 and signed on its behalf by:

MARION PETITPIERRE TERRY BEVAN Signed ( Chairman ): Signed ( Hon Treasurer )

Original signed by the above ofcers on 30th May 2023.

PRINCIPAL EVENTS OF THE YEAR

The year 2022 saw further consolidation of trust funds to help provide

the future funding for key changes to the building
improvements to the amenity for the residents and
to preserve the integrity of the structure.

Reserves increased by £15,988 in 2022 (2021 £18,981). No donations were received during the year. The Trustees are discussing a project of improvements to begin when the scale and nature of work can be established and agreed with those interested parties that must be consulted.

This process is unlikely to be progressed before 2024.

The Trustees are most grateful to all who have helped to ensure the continuing well-being of the alms-house. In 2023 the Trust continues to ensure that the Charity can address those necessary risks for which it must responsibly plan and build up the reserves to assist with future capital projects.

Primary risks to the Charity continue to be unoccupied premises and unidentified building or facilities renewal. The accommodation was fully occupied throughout 2022.

It is the intention of the Trustees to continue to build the Trust reserves in furtherance of its strategic objectives, by managing budgets and expenditure levels that will deliver continuing increases in its reserves.

The annual Tea Party for residents, family and trustees was held in 2022 and was very well attended by residents and their families and friends.

Two trustee vacancies that arose in 2021 were filled and the Trust had no vacancies in 2022 save that having stood down as Vicar of Cuckfield the Reverend Michael Maine was no longer able to continue in his role as Chair of the Trust.

The Trust wishes him well and expressed its thanks to him for his support and guidance.

2. INCOME & EXPENDITURE STATEMENT

----- Start of picture text -----
INCOME AND EXPENDITURE TO 31st DECEMBER 2022
Varianc
2022 2021 e
A: INCOME
£36,374. £35,585.
Maintenance Contributions 00 00 £789.00
Bank Interest £941.00 £304.00 £637.00
Supplier Refunds £0.00 £175.00 £175.00
£37,315. £36,064. £1,251.0
TOTAL INCOME 00 00 0
B: EXPENDITURE:
Routine Expenditure:
£2,551. £2,958.
Gas 00 00 £407.00
Gas Maintenance £600.00 £742.00 £142.00
Electricity £372.00 £372.00 £0.00
Water £132.00 £109.00 £23.00
£3,655.0 £4,181.0
Total Energy Costs 0 0 £526.00
£2,860.0 £2,580.0
Maintenance 0 0 £280.00
£1,176.0
Miscellaneous 0 £878.00 £298.00
£1,308.0 £1,158.0
Insurance 0 0 £150.00
£8,999.0 £8,797.0 £202.0
Total Routine Expenditure 0 0 0
£28,316. £27,267. £1,049.
Gross Surplus/Deficit 00 00 00
Non-Routine £8,767.0 £2,272.0 £6,495.0
Maintenance/Expenses: 0 0 0
Flat Part Replacements / Drains
Total Non-Routine Expense £8,767.0 £2,272.0 £6,495.
----- End of picture text -----

----- Start of picture text -----
0 0 00
Special Projects 22:
£3,561.0 £3,072.0
Project Feasibiity Costs 0 0
£2,470.0
0
£472.00
£3,561.0 £6,014.0 £2,453.
Total Special Projects 0 0 00
£21,327. £17,083. £4,244.
TOTAL EXPENDITURE 00 00 00
£15,988. £18,981. £2,993.
C: SURPLUS FOR THE YEAR 00 00 00
----- End of picture text -----

Comments on the Income and Expenditure Statement

Income

The statement above shows a small increase in Maintenance Contributions over 2021.

This income is a result of full occupancy and a small increase in the maintenance charge.

After the deduction of total expenditure, income, including interest received of £941 produced a surplus to be added to reserves of £15,988.

,

Total Routine Expenditure:

Routine maintenance services at £8999 in 2022 increased by £202 compared to 2021.

Operating Gross Surplus increased by £1,049.

Non-Routine Expenses

Non Routine expenditure increased by £6,495 to £8,767.

Trustees are concerned about the increase in non-routine costs.

£1.850 was spent to make good damage following the high winds in January
£2,937 was spent on malfunctioning aspects of the central heating system
£1,120 was spent on overdue redecoration to one of the units

Special Projects

Special Project Expenditure at £3,561 reduced by £2,453 compared to 2021.

Total Expenditure

Total Expenditure in 2022 was £21,327.

This was £4,244 higher than in 2021.

Net Surplus

In 2022 the net surplus of £15,988 was £2,993 lower than in 2021.

The reduction is a result, of higher non-routine expenses.

Whilst this outcome continues to contribute towards a growth in retained funds the Trustees envisage increasing pressure on financial resources until alterations are made to the building and to the services provided for the residents.

3. ASSETS STATEMENT

----- Start of picture text -----
ASSETS AT 31st DECEMBER 2022
2022 2021 Variance
£ £
Savings Account £ 86,232.00 55,304.00 30,928.00
£ £
Deposit Account £ 5,963.00 5,950.00 13.00
£ £
Current Account £ 34,807.00 49,954.00 15,147.00
£ £
Insurance Pre-payment £ 752.00 558.00 194.00
Uncleared payments
£ £
NET ASSETS £ 127,754.00 111,766.00 15,988.00
----- End of picture text -----

Net assets increased from £111,766 in 2021 to £127,754 in 2022.

Reserves continue to increase and have averaged c£18,000 per annum since 2016.

4. OUTLOOK

The outlook for the Almshouse seems good over the next five years but the Trustees remain concerned that improvements to the condition and facilities in the apartments are sustained.

This is likely to require changes in the structure at some point.

Demand for accommodation remains strong and applications have had to be turned away in 2022 because the apartments enjoy full occupancy.

The Trustees seek to continue to increase reserves such that improvements can be made to the property whilst at the same time maintaining sufficient reserves for the risks and demands of day to day maintenance of a 19th century building.

A strategic review of the application of available retained surpluses continues.

Terry Bevan

Trustee/Hon Treasurer

Section A Independent Examiner’s Report

Report to the trustees	The Cuckfeld Cottage Homes Trust
On accounts for the year ended	31st December, 2022 Charity no 229475
Set out on pages	1-6 above

Responsibilities and basis of report

I report to the trustees on my examination of the accounts of the above charity (“the Trust”) for the year ended 31 12 2022.

As the charity's trustees 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 2011 Act and in carrying out my examination I have followed all the 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 which gives me cause to believe that in any material respect

The accounts were not kept in accordance with section 130 of the Charities Act; or
The accounts did not accord with the accounting records;
The accounts did not comply with the applicable requirements concerning the form and content of accounts set out in Charities (Accounts and Reports) Regulations 2008 other than any requirements 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.

Signed: Original signed by Examiner Date: 31/5/2023 Name: Alec Burgess ACA Relevant Chartered Accountant; ICAEW professional qualification(s) or body (if any): Address: 4/6 Church Road, Burgess Hill, West Sussex, RH15 9AE