REGISTERED CHARITY NUMBER: 229682
WINWOOD ALMSHOUSES TRUST
RECEIPTS AND PAYMENTS ACCOUNTS
FOR THE YEAR ENDED 31 DECEMBER 2020
WINWOOD ALMSHOUSES TRUST
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2020
CONTENTS
| Page | |
|---|---|
| Trustees Report | 1 to 2 |
| Independent Examiner's Report | 3 |
| Receipts and Payments | 4 |
| Statement of Assets | 5 |
| Notes | 6 to 7 |
WINWOOD ALMSHOUSES TRUST
REGISTERED CHARITY NUMBER 229682
TRUSTEES REPORT FOR THE YEAR ENDED 31ST DECEMBER 2020
STATUS AND PRINCIPAL OBJECTS
The Charity is a trust and was founded in 1687 by Richard Winwood to provide almshouses for poor widows and widowers of the parish of Quainton. He endowed the Trust with 'lands and tenements' to meet running costs.
Over the years, the buildings have been maintained, whilst being occupied by residents, and the endowments husbanded to provide security for them.
In 1982, the Charity Commissioners prepared a (revised) Scheme for the Administration of the Charity. Under that scheme, four trustees are appointed by Quainton Parish Council, two by Aylesbury Vale District Council (AVDC) and one, being ex-officio, is the Vicar of Quainton, or the member of the Schorne Team having special responsibility for Quainton. After a variation to the Scheme in 2019 the Trustees are empowered to co-opt up to 3 trustees to their number. On 1 April 2020 AVDC was merged into Buckinghamshire County Council who assume the duties under the Scheme.
MAIN ACTIVITIES
The main activities of the Charity is the provision of almshouse accommodation which is supported by the commercial let of its other properties.
TRUSTEES NAMES AND OFFICIALS
During 2020, the following Trustees have held office:
Appointees of A.V.D.C.: Mr N Buck Appointees of Q.P.C.: Mrs A.C. Lucas, Mr E.P. Serjeant, Mrs J. Saunders and Mr J. Fennimore Ex-officio: Reverend S. Flashman Co-opted: Mr P.J.B. Croker
Mrs E Toth is the Clerk to the Trustees and the administration of the Trust is undertaken from her home in Cross Farm Cottage, Upper Street, Quainton, Aylesbury, Buckinghamshire HP22 4AY, which also acts as the address for the Trust.
The Trust's bankers are Lloyds Bank of Market Square, Aylesbury.
The Accountants are Hillier Hopkins LLP, Chartered Accountants, of 249 Silbury Boulevard, Milton Keynes.
The Trust's Solicitors are Parrott and Coales, of Bourbon Street, Aylesbury.
The Land Agents are Robert Serjeant, Rural Surveyors of Denham Hill Farm, Quainton, Bucks.
ACCOUNTING METHOD
The Trustees have considered recent changes in Charity Law and the new accounting requirements within Accounting and Reporting by Charities: Statement of Recommended Practice FRS102. They have concluded that the Charity will not benefit from applying SORP FRS102 and will take advantage of the provisions available for smaller charities and report on a receipts and payments basis.
Page 1
MBER pandemlc these meeUr4Js been hekd An extr1 nRdiNJ was keld tre year to appoint a redent to a nt almstrwe. 17th Juty 2019 Se(yetsry of TrdlWXXt tm>e$s (ff Trust larKls parEnty requlred for HS2. BM 3Q3222 datal Febrtry 3rd 2020). No mrties teen rd . All exr¥Jith was auriJ try tw) Th to the almstru5es and thr tru These ccrfnprtse an MdirKJ of 1,622 in M&G's Charity MU1 Asset AcmUlatIOn Fund (cost £22,944) arnl gerffil resws Ie1 In same r1 (ct6t £19,192). The Extra(Kdlnary Repalr5 are r&ed anThJalty and Itmxeased as rulr but ty an aMot )t less than £360. On ithlf of the Trustees: E.P. SER3EArir PJ.B. CROKER Date.. IO/ /zi
WINWOOD ALMSHOUSES TRUST
REGISTERED CHARITY NUMBER 229682
INDEPENDENT EXAMINER'S REPORT FOR THE YEAR ENDED 31 DECEMBER 2020
I report on the accounts of the charity for the year ended 31 December 2020 which are set out on pages 4 to 7.
RESPECTIVE RESPONSIBILITIES OF TRUSTEES AND EXAMINER
The charity’s trustees are responsible for the preparation of the accounts. The charity’s trustees consider that an audit is not required for this year under section 144(2) of the Charities Act 2011 (the 2011 Act) and that an independent examination is needed.
It is my responsibility to:
-
examine the accounts under section 145 of the 2011 Act;
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follow the procedures laid down in the general Directions given by the Charity Commission under
-
section 145(5)(b) of the 2011 Act; and
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state whether particular matters have come to my attention.
BASIS OF INDEPENDENT EXAMINER'S REPORT
My examination was carried out in accordance with the general Directions given by the Charity Commission. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from you as trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently no opinion is given as to whether the accounts present a “true and fair view” and the report is limited to those matters set out in the statement below.
INDEPENDENT EXAMINER'S STATEMENT
In connection with my examination, no matter has come to my attention:
-
1 which gives me reasonable cause to believe that, in any material respect, the requirements:
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to keep accounting records in accordance with section 130 of the 2011 Act; and
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to prepare accounts which accord with the accounting records and comply with the accounting
-
requirements of the 2011 Act
have not been met; or
2 to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.
Neal Carter ACA
Hillier Hopkins LLP Chartered Accountants 249 Silbury Boulevard Milton Keynes Bucks. MK9 1NA
Date: 13 May 2021
Page 3
WINWOOD ALMSHOUSES TRUST
RECEIPTS AND PAYMENTS
FOR THE YEAR ENDED 31 DECEMBER 2020
| Notes RECEIPTS Rent from property Contributions to property maintenance costs Investment and Other Income Bank Deposit Interest 1,146 Investment Income 3,060 Other Income PAYMENTS Charitable expenditure: Costs of activities in furtherance of the charity's objects Insurance 3,186 Water 3,287 Heat and light 9,126 Telephone 447 Lifeline costs 521 Repairs and maintenance 15,251 Subscriptions 762 Council Tax 233 Sundry 979 Governance costs Clerk's allowance 3 1,800 Stationery, post and telephone - Legal Fees 1,848 Accountancy fees 1,800 Other income and payments: Purchase of investments 5 TOTAL PAYMENTS NET RECEIPTS/(PAYMENTS) CASH FUNDS AT START OF YEAR CASH FUNDS AT END OF YEAR |
2020 £ 34,096 16,423 4,206 54,725 33,792 5,448 39,240 23,773 23,773 63,013 (8,288) 102,270 |
2019 £ 33,170 15,898 220 3,754 6,515 |
||
|---|---|---|---|---|
| 10,489 | ||||
| 59,557 3,302 1,681 11,837 1,464 1,145 7,628 404 - 159 |
||||
| 27,620 1,983 175 360 1,740 |
||||
| 4,258 | ||||
| 31,878 | ||||
| - | ||||
| - | ||||
| 31,878 | ||||
| 27,679 74,591 |
||||
| 93,982 | 102,270 |
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[1 2) 27fi36 27,636 Freknkl land & trtildiThJs (at 31 Decnber I 1) 211B)O 211,800 27,636 211,0 239,436 991,548 991,548 CASH FUNDS 1,085,030 1,085.530 UABILrriES Deposits (450) (450) (450 (450 TiyfAL NEf FUNDS 1112 216 £ 1324516 gnl on its behalf by IO/*/LI E.P. SERJEAKr } Tntst PJ.B. CROKER
WINWOOD ALMSHOUSES TRUST
NOTES TO THE ACCOUNTS
FOR THE YEAR ENDED 31 DECEMBER 2020
1 ACCOUNTING POLICIES
Basis of Preparation
The accounts have been prepared on the receipts and payments basis.
2 ENDOWMENT FUND
The Endowment fund recognises the valuation of the properties when they were brought into the accounts in 1984.
3 EMOLUMENTS
None of the Trustees received any emoluments. The emoluments of the Clerk to the Trustees were as follows:
| 4 | Emoluments FIXED ASSETS-HOUSING PROPERTIES Cost At 1st January 2020 and 31st December 2020 Less: SOCIAL HOUSING GRANT At 1st January 2020 and 31st December 2020 NET BOOK VALUE At 1st January 2020 and 31st December 2020 |
||
|---|---|---|---|
The Winwood Almshouses were constructed in the Seventeenth Century. There is no record of the original cost and no value is attributed thereto. The above details relate to improvements carried out since 1985, which were partly funded by a Housing Corporation Grant of £145,166.
Social Housing Grant
Social Housing Grant (SHG) was paid by the Housing Corporation to reduce the cost of development and is, therefore, shown as a deduction from the cost of Housing Properties on the Balance Sheet. SHG is repayable under certain circumstances, primarily following the sale of a property but will normally be restricted to net proceeds of sale.
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WINWOOD ALMSHOUSES TRUST
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2020
5 INVESTMENTS
| Base Cost: At 1st January Additions Diposals At 31st December |
2020 284,590 84,942 (39,407) 330,125 £ |
2019 284,590 |
|---|---|---|
| 284,590 £ |
| The Investments comprise the following: Charity Multi Asset Accumulation shares 1831.477 (2019 - 1532.144) Charity Multi Asset Income shares Nil (2019 - 4365) CHARIFUND Accumulation Shares 2589.57 (2019 - 2345.150) CHARIFUND Income Shares Nil (2019 - 4338.398) COIF Accumulation Shares 925.49 (2019 - 925.49) |
2020 Cost 42,136 - 257,989 - 30,000 |
2020 Market Value 169,440 - 630,899 - 191,209 |
2019 Cost 15,047 1,412 200,136 37,995 30,000 |
2019 Market Value 146,406 3,945 655,929 72,047 174,164 |
|
|---|---|---|---|---|---|
| 330,125 | 991,548 | 284,590 1,052,491 |
| M.V at 1 January 2020 Additions Profit/(Loss) in the year Disposals M.V at 31 December 2020 |
1,052,491 84,942 (69,893) (75,992) |
|---|---|
| 991,548 £ |
The Trust previously held accumulation and income units in the National Almshouses Association Common Investment Fund. This fund was closed on 15 November 2019 and the units converted, pari passu, to units in a newly launched fund, the M&G Charity Multi Asset Authorised Investment Fund.
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