REGISTERED CHARITY NUMBER: 229682
WINWOOD ALMSHOUSES TRUST
RECEIPTS AND PAYMENTS ACCOUNTS
FOR THE YEAR ENDED 31 DECEMBER 2021
WINWOOD ALMSHOUSES TRUST
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2021
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 2021
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 (B.C.C.) 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 2021, the following Trustees have held office:
Appointees of B.C.C.:
Mr N. Buck, Sir B.D. Stanier Bt (appointed 8 December 2021) Appointees of Q.P.C.:
Mrs A.C. Lucas, Mr E.P. Serjeant (resigned 15 September 2021), Mrs J. Saunders,
Mr J. Fennimore and Mr N. Butler (appointed 8 December 2021)
Ex-officio:
Reverend S. Flashman Co-opted: Mr P.J.B. Croker, Mrs C.L. Serjeant (appointed 7 April 2021)
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
ljk NDED DE EM ER2 THEY Trustees met four time5 during year tsInesS. LX to the covid pa[KI1¢ one of these rneetjngs was hdd renN)tdy. The Tntst conbnu8J to wovide alG1jj5e accomrn(rfJathn a1 sUppt throwhout the year. On 17th Juty 2019 the SecTetary of for TraiHKXt of TTht lands lmanendY required for HS2. rtIe BM 3Crf9222 February 3rd 2020). No Mon haye teen retrNed yet. During the year there was no other lIftant athity rdatirmj to the TnS Prtie All exprtUre was authori5ed by (V Tnbt The Trustee5' and apFoval of the Tnjsvs li was uThongoJ from last year. The reseNes are beiTrJ held to meet firture eXpthJ exkHtsI to t made on Improvements to the alms1 and other Trust PfOFerti Unrestri¢Xed reseNes indude tK deggrth for the wfic [AIrse of Extraordinary Repalrs. These comprfse an endowmert tKJlding of 1,622 sha$ In M&G's rIty Mulli Agset AMulation Fund {c05t £22.944) arKI general reserves inved in the same Fu] (crst £19,552). The Extraordinary Repalrs reseNes are rewewed annualty arwj increas&J as required but by an amwnt r•)t less than £360. On behalf of the Tnjstees: ACTh_ A.C. LUC4S Trustee PJ.B. CAOKER ILI 3110*2 Page 2
WINWOOD ALMSHOUSES TRUST
REGISTERED CHARITY NUMBER 229682
INDEPENDENT EXAMINER'S REPORT FOR THE YEAR ENDED 31 DECEMBER 2021
I report on the accounts of the charity for the year ended 31 December 2021 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
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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:
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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
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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: 11 April 2022
Page 3
WINWOOD ALMSHOUSES TRUST
RECEIPTS AND PAYMENTS
FOR THE YEAR ENDED 31 DECEMBER 2021
| Notes RECEIPTS Rent from property Contributions to property maintenance costs Investment and Other Income Bank Deposit Interest 992 Investment Income - Other Income 76 PAYMENTS Charitable expenditure: Costs of activities in furtherance of the charity's objects Insurance 3,361 Water 1,625 Heat and light 9,232 Telephone 1,306 Lifeline costs 1,042 Repairs and maintenance 16,558 Subscriptions 401 Council Tax - Sundry 358 Governance costs Clerk's allowance 3 1,900 Stationery, post and telephone 67 Legal Fees 44 Accountancy fees 1,860 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 |
2021 £ 30,292 19,800 1,068 51,160 33,883 3,871 37,754 360 360 38,114 13,046 93,982 |
2020 £ 34,096 16,423 1,146 3,060 |
||
|---|---|---|---|---|
| 4,206 | ||||
| 54,725 3,186 3,287 9,126 447 521 15,251 762 233 979 |
||||
| 33,792 1,800 - 1,848 1,800 |
||||
| 5,448 | ||||
| 39,240 | ||||
| 23,773 | ||||
| 23,773 | ||||
| 63,013 | ||||
| (8,288) 102,270 |
||||
| 107,028 | 93,982 |
Page 4
ATEM BER TOTAL fvnds fund (rK)te 2) ASSEfs HELD FOR CHARrrrs OWN USE Hsing properttes 27,636 27,636 Freehotd land & bjitdings (at 31 tkniber 1984 valuati1) 211, 211,8 27,636 211,800 239,436 1,167.355 1,167,355 107 028 1,274,383 CASH FUNDS 1,273,883 UABILrriES (450) {450) (450) (450) TOTAL NEf FUNDS I3019 £ 212.31K) £1513369 a1 Swjnj on its beha by A.C. LUCAS ) Trl5 PJ.B. CROKER
WINWOOD ALMSHOUSES TRUST
NOTES TO THE ACCOUNTS
FOR THE YEAR ENDED 31 DECEMBER 2021
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 2021 and 31st December 2021 Less: SOCIAL HOUSING GRANT At 1st January 2021 and 31st December 2021 NET BOOK VALUE At 1st January 2021 and 31st December 2021 |
||
|---|---|---|---|
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 2021
5 INVESTMENTS
| Base Cost: At 1st January Additions Diposals At 31st December The Investments comprise the following: Charity Multi Asset Accumulation shares 1835.013 (2020 - 1831.477) CHARIFUND Accumulation Shares 2589.57 (2020 - 2589.57) COIF Accumulation Shares 925.49 (2020 - 925.49) M.V at 1 January 2021 Additions Profit/(Loss) in the year Disposals M.V at 31 December 2021 |
2021 330,125 360 - |
2021 Market Value 192,132 751,094 224,129 |
2020 284,590 84,942 (39,407) 330,125 2020 Cost 42,136 257,989 30,000 |
2020 Market Value 169,440 630,899 191,209 |
|||
|---|---|---|---|---|---|---|---|
| £ | 330,485 |
£ | |||||
| 2021 Cost 42,496 257,989 30,000 |
|||||||
| 330,485 | 1,167,355 | 330,125 | 991,548 | ||||
| 991,548 360 175,447 - |
|||||||
| £ | 1,167,355 |
Page 7