ANNUAL REPORT AND ACCOUNTS 2024 Annual Report Accounts Year to 31" December 2024
ANNUAL REPORT AND ACCOUNTS 2024 I. LEGAL AND ADMINISTRATIVE SUMMARY l. l. Objectives of the Charity (Commission No 229475) ( l ) 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 'Yorever and hereafter" to be used by "aged and infimi 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 kheme of 31" 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 Propertr. 1.5. Correspondence Addresses: Cuckfield Cottage Homes Church Platt Cuckfield Nr Haywards Heath West Sussex RH17 SLA The Vicarage 5 Barrowfield Cuckfield West Sussex RH17 SER Terry Bevan (Hon. Treosurer) l*Vhite House Whitemans Green Cuckfield West Sussex RH17 5BY 1.3.Trustees during 2024: Rev. Daniel Valentine Chair Marion Petitpierre Deputy Choir Stephen Gaimster aerk Terry Bevan Treasurer Ross Bradshaw {resFgned Aug24) Roger Edmonston Tim Howell 1.4. Bankers: HSBC 40 South Road Haywards Heath West Sussex RH16 4LB
1.6. Trustees Statement The Cuckfield Cowe Homes Trust Annual Report and Accounts for the year ended 315¢ December 2024, were approved by the Trustees on l oJLfi 2025 and signed on its behalf by: ned Chaimion . Hon Tre urer
PRINCIPAL EVENTS OF THE YEAR During 2024 the Trusc received the agreement of Mid Sussex Distrirt Council to put fornvard a scheme to improve the scale and the nature of the accommodation. in order to ensure the viabiliry of the Almshouse into the future. The Trust continued to add to its reserve funds although non routine costs arising from the condition of aspects of the building will be seen to have increased expenditure and reduced the amount of the addition to reserves. Rising Utility costs contributed to thi5 increase in expenditure. Key Trust aims continue to be ¢0 Future fund key changes to the building Improve the amenity quality for residents and Preserve the integrity of the structure. Reserves increased by £9.573 in 2024 (2023 £22,196). No donations or grants were received during the year. The Trustees have now commissioned a final design for the building and held initial dialogues with residents and those most likely to be closety affected as immediate neishbours. This redevelopment is to gawi atvoval so that work rrray commeno by lats 2026. The Trustees are most grateful to all who have helped to ensure the continuing well-being of the alms-house. In 2025 the Trust continues to ensure that the Charity can address those necessary risks for which it must responsibly plan and build reserves to s u s ta i n t h e utility of the building to the local community. Primary risks to the Charity continue to be unoccupied premises and unidentified building or facilities renewal. The accommodation wa5 fully occupied throughout 2024. The annual Tea Party for residents. family and trustees was held in 2024 at the adjacent Old School and was very well attended by residents and their families and friends.
- INCOME & EXPENDITURE STATEMENT INCOME AND EXPENDITURE TO 31st DECEMBER 2024 2024 2023 Variance A: INCOME maintenan Contributlons Bank Interest £40,620.00 £5 896.00 £38 395.00 £3 666.00 £2.225.00 £2 230.00 TOTAL INCOME £46,516.00 £42 061.00 £4.455.00 B: EXPENDITURE: Routine Ex ndlture.. Gas Gas Maintenance Electrlci Water Total Ene Maintenance Mlscellaneous Insurance Total Routlne Ex £7 480.00 £0.00 £710.00 £92.00 £3,061.00 £641.00 £300.00 £143.00 £4,419.00 £641.00 £410.00 £51.00 £4 137.00 £402.00 £809.00 £208.00 £5 185.00 Costs £8.282.00 £3.429.00 £1,820.00 £1,291.00 £14 822.00 £4 145.00 £3 027.00 £1,011.00 £1,454.00 £9 637.00 nditure Gross Sur luslDeficlt Non-Routine Malntenanc& £31694.00 £32 424.00 730.00 nses.. £8 702.00 £2 104.00 £6,598.00 Total Non-Routine Ex S eclal Pro ects.. Building Measured Survey; Architects and QS costs ense £8,702.00 £2,104.00 6,598.00 £13 419.00 £8 124.00 £5,295.00 Total S eclal Pro ects TOTAL EXPENDITURE C: SURPLUS FOR THE YEAR £13 419.00 £36,943.00 £9 573.00 £8 124.00 £19,865.00 £22,196.00 £5,295.00 £17,078.00
Comments on the Irbcome and Expenditure Statement Income The statement above shows a 5.8 % increase in Maintenance Contributions (2023 - 5%) and a £2230 increase in interest received on Trust funds held in fixed term dep051t accounts. After deduction of total expenditure. net income. added a surplus to reserve5 of £ 9,573 Total Routine Expenditure: Routine maintenance services at £ 14.822 increased by £5.185 (2023 total £9.637). Operating Gross Surplus reduced by £730 due partly to the large increase in utility charges. Non-Routine Expenses Non Routine expendiwre increased to £&702 from £2.104 in 2023. The 2024 figure is due to the increase in provision for lIdIng maintenance costs. Special Projects Special Projecc Expenditure at £13.419 increased by £5.295 compared to 2023. This expenditure related mainly to costs in connection with the decision of the Trustees to seek p13nning consent for improvements to the building and its facilities. Total Expenditure Total Expenditure in 2024 was £36.943 with an overall increase of £17.078. Net Surplus In 2024 the net surplus of £9.573 was £ 11623 lower than in 2023. The surplus adds towards the increase in retained funds that Trustees seek to support plans for future changes to the buildin8 in order to increase the revenue from the building and to sustain the accommodation standards provided for residents.
- ASSETS STATEMENT ASSETS AT 31st DECEMBER 2024 2024 £ 137 193.00 2 502.00 2 061.00 £ 17 110.00 657.00 £ 159 523.00 2023 £ 116 533.00 3 306.00 022.00 27 387.00 702.00 149 950.00 Variance Savin s Account Accrued Interest osit Account Current Account Insurance Pre. ment NET ASSETS £20 660.00 804.00 39.00 10 277.00 45.00 £ 9 573.00 Net assets increased from £149.950 in 2023 to £159,523 in 2024
- OUTLOOK The out10( for the Almshouse seems good in the immediatr future but Trustses are concerned aknut the impact of rising utility costs and evidence of fabric deterioration. In seeking a longer terni solution to these challenges Trustees intend to submit a planning application that will improve the level of service provided in all exisung units vthilst increasing income to offset the impact of increasing costs. An improved and more efficient heating System forms part of these plans. Demand for this accommodation remains strong and applications have been turned away as the apartments are in full occupation. The Tntee5 seek to help improve this position. The Trustees continue to increase reserves whilst at the same time maintaining the property within modern guidelines. Terry Bevan TrusteelHon Treosurer
| Section A | Independent Examiner's Report | ||
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| Report to the trustee<~~I ~~ On accounts fr th::;:;1 |
The Cuckfield Cottage Homes Trust . 3_1 s_ _D e c e m b e r,202_4 _ .lc_ h ar i t_ n o _l_229 4_7_s ______, |
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| Set out | on pages | ~~I~~ |
I-6 above �-----------------------------� |
| Responsibilities | and basis | I report to the trustees on my examination of the accounts of the above charity | |
| of report | ("the Trust") for the year ended 31 12 2023. As the charity's trustees you are responsible fr the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ("the Act"). |
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| I report in respect of my examination of the Trust's accounts carried out under section 145 of the 20 I I Act and in carrying out my examination I have fllowed all the applicable Directions given by the Charity Commission (under section |
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| I 45(5)(b) of the Act. |
Independent examiner's I have completed my examination. I confirm that no material matters have come to statement my attention in connection with the examination which gives me cause to believe that in any material respect
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The accounts were not kept in accordance with section 130 of the Charities Act; or
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• • 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 anindependent 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.
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