**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 extr￿1￿ nRdiNJ was keld tre year to appoint a re￿dent to a ￿nt almstrwe. 17th Juty 2019 Se(yetsry of TrdlWXXt tm>￿e$s￿ (ff Trust larKls p￿arEnty requlred for HS2. BM 3Q3222 datal Febrt￿ry 3rd 2020). No mr*ties ￿ teen r￿*d ￿. All exr*¥Jith was au￿￿ri￿J try tw) Th to the almstr￿u5es and thr tru* These ccrfnprtse an MdirKJ of 1,622 in M&G's Charity MU￿1 Asset Ac￿mUlatIOn Fund (cost £22,944) arnl gerffil resw*s I￿￿e1￿ In same ￿r￿1 (ct6t £19,192). The Extra(Kdlnary Repalr5 are r&￿ed anThJalty and Itmxeased as r￿ulr￿ but ty an aMo￿t )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; - follow the procedures laid down in the general Directions given by the Charity Commission under - section 145(5)(b) of the 2011 Act; and - 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: - to keep accounting records in accordance with section 130 of the 2011 Act; and - 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| Page 4 [1￿ 2) 27fi36 27,636 Freknkl land & trtildiThJs (at 31 Dec￿nber 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 ￿gn￿l 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. Page 6 **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. Page 7