**REGISTERED CHARITY NUMBER: 229734**
## **PORTSMOUTH AND DISTRICT FRIENDLY SOCIETIES HOMES**
## **REPORT OF THE TRUSTEES AND UNAUDITED FINANCIAL STATEMENTS**
## **FOR THE YEAR ENDED**
**31 DECEMBER 2022**
**PORTSMOUTH AND DISTRICT FRIENDLY SOCIETIES HOMES**
**CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022**
||**Page**|
|---|---|
|**General Information**||
|**Statement of Financial Activities**||
|**Balance Sheet**||
|**Notes to the Financial Statements**||
|**Independent Examiners Report**||
|**Report of the Trustees**|**10**|
## **PORTSMOUTH AND DISTRICT FRIENDLY SOCIETIES HOMES**
## **CHARITY INFORMATION FOR THE YEAR ENDED 31 DECEMBER 2022**
**HONORARY SECRETARY:** Cllr C Corkery **HONORARY TREASURER:** Cllr C Corkery **TRUSTEES:** B Dowling Cllr G Vernon-Jackson Cllr C Corkery Cllr S Pitt A Kille **HOMES SITUATED AT:** Glasgow Road Milton Portsmouth Hampshire PO4 8HS **CHARITY NUMBER:** 229734 **ACCOUNTANTS:** Morris Crocker Chartered Accountants Station House Havant Hampshire PO9 1QU **BANKERS:** Lloyds Bank plc 38 London Road North End Portsmouth PO2 0LN
Page 1
## **PORTSMOUTH AND DISTRICT FRIENDLY SOCIETIES HOMES**
## **STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2022**
|**Income:**
Friendly Society's donations
Maintenance contributions
Water heater contributions
Sundries
**Other income:**
Investment income
Deposit account interest
**TOTAL INCOMING RESOURCES**
**Expenditure:**
Telephone
Postage and stationery
Advert
Subscriptions of National
Association of Almshouses
Xero subscriptions
Sundry expenses
Accountancy
Payroll
Wages, social security and pensions
Rates and water
Insurance
Electricity and gas
Repairs and decorations
Health and safety
PRHA management fees
Legal and professional fees
Bank charges|Unrestricted
Funds|Unrestricted
Funds|Restricted
Funds|Restricted
Funds|Restricted
Funds|Restricted
Funds||2022
Total|||2021
Total
£
3,380
77,636
1,070
120
82,206
3,261
38
3,299
85,505
735
554
-
295
-
1,227
2,028
511
15,897
6,688
2,002
1,570
35,308
-
-
-
-
66,815|
|---|---|---|---|---|---|---|---|---|---|---|---|
|||£
3,565
78,660
1,034
128
83,387
3,194
204
3,398
86,785
932
587
575
309
291
1,106
2,130
517
16,974
3,402
2,180
1,530
44,857
5,158
4,578
1,440
-
86,566||||£
-
-
-
-||£
3,565
78,660
1,034
128
83,387
3,194
204
3,398
86,785
932
587
575
309
291
1,106
2,130
517
16,974
3,402
2,180
1,530
44,857
5,158
4,578
1,440
-
86,566||||
|||||||-||||||
|||||||-
-||||||
|||||||-||||||
|||||||-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-||||||
|||||||-||||||
Page 2
## **PORTSMOUTH AND DISTRICT FRIENDLY SOCIETIES HOMES**
## **STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2022 (CONTINUED)**
|**Depreciation:**
Office equipment
**TOTAL EXPENDITURE**
**NET INCOME**
Investment (losses)/gains
**NET MOVEMENT IN FUNDS**
Total funds brought forward
**TOTAL FUNDS CARRIED FORWARD**|Unrestricted
Funds
£
150
86,716
69
(46,892)
(46,823)
1,879,996
1,833,173|Restricted
Funds
£
-
-
-
-
-
62
62|
|2022
Total
£
150
86,716
69
(46,892)
(46,823)
,880,058
,833,235||2021
Total
£
188
67,003
18,502
60,712
79,214
,800,844
,880,058|
|---|---|---|---|---|---|---|
||||1
1||1
1||
Page 3
## **PORTSMOUTH AND DISTRICT FRIENDLY SOCIETIES HOMES**
## **BALANCE SHEET 31 DECEMBER 2022**
|Notes
**FIXED ASSETS:**
Freehold property
2
Office equipment
2
Investments
3
**CURRENT ASSETS:**
CMF bank account
ERF bank account
Instant bank account
Scales Gift account
Current account
Debtors
**CREDITORS:**
Accrued expenses
Creditors
**NET ASSETS**
**FUNDS:**
Unrestricted funds – reserve funds
Restricted funds
**TOTAL FUNDS**||2022|£
1,425,283
407,952
1,833,235
1,833,173
62
1,833,235||2021|
£
1,472,325
407,733
1,880,058
1,879,996
62
1,880,058|
|---|---|---|---|---|---|---|
|||£
984,737
604
439,942
251,976
97,635
44,824
62
42,238
333
437,068
5,158
23,958
29,116|||£
984,737
754
486,834
261,843
85,586
41,608
62
22,128
158
411,385
2,028
1,624
3,652||
The financial statements were approved by the Board of Trustees on ...9th August 2023... and were signed on its behalf by:
C. Corkery ~~……………………~~ C. Corkery (Aug 25, 2023 12:16 GMT+1) ………. Cllr C Corkery – Secretary
Ben Dowling ~~………………………~~ Ben Dowling (Aug 22, 2023 10:12 GMT+1) ……. B Dowling – Chair Trustee
Page 4
## **PORTSMOUTH AND DISTRICT FRIENDLY SOCIETIES HOMES**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022**
## **1. ACCOUNTING POLICIES**
## **Basic of preparing the financial statements**
The financial statements of the charity, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) ‘Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2015)’, Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ and the Charities Act 2011. The financial statements have been prepared under the historical cost convention.
## **Income**
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.
## **Expenditure**
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.
## **Tangible fixed assets**
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Freehold property - nil Office equipment - 20% on reducing balance
Freehold property is reflected in the accounts at original cost. Having regard to the estimated useful economic life and residual value, the Trustees consider that a provision for depreciation is not required.
## **Investments**
Investments are included at market value and the unrealised gain or loss is accounted for in the Statement of Financial Activities.
## **Taxation**
The charity is exempt from tax on its charitable activities.
## **Funds accounting**
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.
Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.
Page 5
## **PORTSMOUTH AND DISTRICT FRIENDLY SOCIETIES HOMES**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022**
## **Management and administration of the charity**
No honorarium has been paid in the year.
## **Staff costs**
The average monthly number of employees during the year was as follows:
||2022|2021|
|---|---|---|
|Administrator|1|1|
|No employees received emoluments in excess of £60,000.|||
## **Trustees’ remuneration and benefits**
There were no trustees’ remuneration or other benefits for the year ended 31 December 2022 nor for the year ended 31 December 2021.
## **Trustees’ expenses**
There were no Trustee expenses for the year end 31 December 2022.
Page 6
## **PORTSMOUTH AND DISTRICT FRIENDLY SOCIETIES HOMES**
## **NOTES TO THE FINANCIAL STATEMENTS 31 DECEMBER 2022**
## **2. TANGIBLE FIXED ASSETS**
|**COST OR VALUATION:**
At 1 January 2022
Additions
At 31 December 2022
**DEPRECIATION:**
At 1 January 2022
Charge for year
At 31 December 2022
**NET BOOK VALUE:**
At 31 December 2022
At 31 December 2021
**. FIXED ASSET INVESTMENTS**
COIF Capital (4,183.92 units)
COIF ERF Scheme (1,442.96 units)
M&G Charibond (41,953.75 units)|Historical
Cost
£
35,567
93,236
49,610
178,413||Freehold
property
£
984,737
-
984,737
-
-
-
984,737
984,737
Market
Value
2022
£
76,042
318,460
45,440
439,942|Office
equipment
£
1,793
-
1,793
1,039
150
1,189
604
754
Unrealised
Gain/(Loss)
£
(10,006)
(31,490)
(5,396)
(46,892)||Totals
£
986,530
-
986,530
1,039
150
1,189
985,341
985,491
Market
Value
2021
£
86,048
349,950
50,836
486,834|
|---|---|---|---|---|---|---|
||||||||
||||||||
## **3. FIXED ASSET INVESTMENTS**
All investment assets are held in the UK.
Page 7
## **PORTSMOUTH AND DISTRICT FRIENDLY SOCIETIES HOMES**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022**
## **4. ANALYSIS OF NET ASSETS BETWEEN FUNDS**
|Tangible fixed assets
Investments
Current assets
Current liabilities
**5. MOVEMENT IN FUNDS**
**Unrestricted funds:**
Designated funds
General funds
**Restricted funds:**
Renovation grant
**TOTAL FUNDS**|At 1 January
2022|At 1 January
2022|||||Designated
Funds
£
-
-
407,890
-
407,890
Outgoing
resources|Designated
Funds
£
-
-
407,890
-
407,890
Outgoing
resources|Designated
Funds
£
-
-
407,890
-
407,890
Outgoing
resources||Restricted
Funds
£
Total
Funds
£
-
985,341
-
439,942
62
437,068
-
(29,116)
62
1,833,235
Movement in
investments
At 31 December
2022
£
£
-
407,890
(46,892)
1,425,283
(46,892)
1,833,173
-
62
(46,892)
1,833,235|
|---|---|---|---|---|---|---|---|---|---|---|---|
|||||||||||||
|||£
407,671
1,472,325
1,879,996
62
1,880,058||||£
219
-
219
-
219|||£
-
(150)
(150)
-|||
|||||||||||||
|||||||||||||
||||||||||(150)|||
## **6. RELATED PARTY DISCLOSURES**
There were no related party transactions for the year ended 31 December 2022.
Page 8
## **INDEPENDENT EXAMINERS REPORT TO THE TRUSTEES OF PORTSMOUTH AND DISTRICT FRIENDLY SOCIETIES HOMES**
## **FOR THE YEAR ENDED 31 DECEMBER 2022**
I report on the accounts of the Society for the year ended 31 December 2022, which are set out on pages 2 to 8.
## **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 required.
It is my responsibility to:
- examine the accounts under Section 145 of the 2011 Act
- to follow the procedures laid down in the General Directions given by the Charity Commissioners (under Section 145(5)(b) of the 2011 Act); and
- to state whether particular matters have come to my attention.
## **Basis of the 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 statements 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 to 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.
## Martin Southern
Martin Southern (Aug 21, 2023 14:55 GMT+1)
**M Southern FCA Morris Crocker Chartered Accountants Station House North Street Havant Hampshire PO9 1QU**
## **Date:** ……………… 21/08/2023
Page 9
**PORTSMOUTH AND DISTRICT FRIENDLY SOCIETIES HOMES**
## **REPORT OF THE TRUSTEES**
## **FOR THE YEAR ENDED 31 DECEMBER 2022**
The trustees present their report with the financial statements of the charity for the year ended 31 December 2022. The trustees have adopted the provision of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2015).
## **Objectives and activities**
The aim of the Friendly Societies Homes is to provide accommodation for necessitous people over the age of 60 with a preference for those who are members of Friendly Societies and their widows, living in the area of benefit for five years and able to live independently. The area of benefit is within a 15 mile radius from the Guildhall in the city of Portsmouth.
The main objective of the trustees in recent years has been to bring the housing stock of flats up to a suitable and acceptable standard in today’s market. There are five blocks of flats on the ground floor and first floor only. There are no lifts at the Homes. Following the modernisation and refurbishment, there are a total of 25 flats at the Homes now having been reduced from the original 32 bedsit flats, with flat 88 becoming an office with planning permission in 2016.
## **Public benefit**
The trustees confirm that they have referred to the guidance contained in the Charity Commission’s general guidance on public benefit when reviewing the charity’s aims and objectives and in planning future activities. The trustees refer to public benefit throughout this report.
## **Activities, achievement and performance**
In March 2022 an agreement was made with Portsmouth Rotary Housing Association (PRHA) for PRHA to manage the Almshouses on behalf of the charity. The trustees continued to agree upgrades and modernisation of the Almshouses ensuring that the accommodation complies with landlord safety obligations, is secure and well maintained.
Repairs and Maintenance expenditure increased by 21% compared to the previous year. The increase is attributed in the main to the increase in the cost of labour and materials experienced by the housing sector due to ongoing global economic instability and high UK inflation during the year.
New software finance and property management software was introduced during the year as part of the modernisation of the charity’s administration.
At year end the charity remained financially secure with a strong with a cash at bank position of £437,068, and increase of 6% compared to the previous year. The good financial position of the charity will enable the charity to plan for the future including ensuring the dwellings are energy efficient and meet the requirements of net zero legislation.
The trustees are would like to thank Michelle Lincoln and PRHA staff for delivering an excellent service to the residents and supporting. The Trustees also send their thanks to contractors involved in ensuring the properties are maintained to a good standard.
Page 10
## **PORTSMOUTH AND DISTRICT FRIENDLY SOCIETIES HOMES**
## **FOR THE YEAR ENDED 31 DECEMBER 2022**
## **ANNUAL REPORT FOR 2022 (continued)**
The trustees will hold a minute’s silence to remember our residents who passed away during the year at our next AGM.
The trustees also acknowledge this the 2022 continued to be a difficult time for residents due the impact of the cost of living crisis.
## **Financial review**
Morris Crocker accountants conducted an Independent Examination of the charity’s accounts details of which form part of this report.
A donation was received from the Ancient Order of Foresters (Southampton) in the sum of £3565. The trustees are extremely grateful for the help and support they provide and are very thankful for their kind donations. This money will be used to further update the Homes for the benefit of the residents. The trustees would also like to remind residents of the benefits of belonging to the Foresters or Manchester Odd Fellows as they do provide social events for members and can help with welfare grants when members are in need.
## **Reserves policy**
PDFSH need a reserve to enable planning for long term property maintenance obligations and to continue to be able to further the objectives of the charity.
## **Structure, governance and management**
The name of the Charity is Portsmouth and District Friendly Societies Homes and this is the name used by the trustees. The Registration number of the Charity is 229734. The Trustees’ official address is the office based at Flat 88 Glasgow Road, Southsea, Portsmouth, Hampshire, PO4 8HS.
The Homes are conducted by a Scheme dated 15 October 1985, drawn up by the Charity Commission. The charity is controlled by its governing document and constitutes an unincorporated charity. Any decisions made by the trustees are made at meetings of the trustees which are held regularly. The quorum for all trustee meetings is four.
During the year Andy Kille joined the charity as a Trustee. His experience will complement the skills of existing trustees. There are 5 trustees details of which are contained in this report. 3 are nominative trustees appointed by Portsmouth City Council and two are co-opted trustees (3 vacancies).
PRHA have been delegated via a management agreement to support and advise trustees to ensure good governance and the continued delivery of excellent services to the beneficiaries of the charity.
Approved by order of the board of trustees on ......9th August 2023.... and signed on its behalf by:
C. Corkery Ben Dowling C. Corkery (Aug 25, 2023 12:16 GMT+1) Ben Dowling (Aug 22, 2023 10:12 GMT+1) Cllr C Corkery B Dowling Secretary and Trustee Chair Trustee
Page 11
2023-08-25
## Management accounts 1.01c
## Final Audit Report
Created: 2023-08-21 By: Joe Nicholson (joe.nicholson@prha.co.uk) Status: Signed Transaction ID: CBJCHBCAABAAMD5C110lCdwqbzhnEl7h-EeBz_z8PFdM
## "Management accounts 1.01c" History
Document created by Joe Nicholson (joe.nicholson@prha.co.uk)
2023-08-21 - 1:50:12 PM GMT- IP address: 147.147.211.133
## Document emailed to Ben Dowling (btldowling@gmail.com) for signature
2023-08-21 - 1:50:16 PM GMT
Document emailed to Cal Corkery (calcorkery91@googlemail.com) for signature
2023-08-21 - 1:50:16 PM GMT
## Document emailed to Martin Southern (m.southern@morriscrocker.co.uk) for signature
2023-08-21 - 1:50:16 PM GMT
Email viewed by Martin Southern (m.southern@morriscrocker.co.uk)
2023-08-21 - 1:54:19 PM GMT- IP address: 104.47.20.254
- Document e-signed by Martin Southern (m.southern@morriscrocker.co.uk)
Signature Date: 2023-08-21 - 1:55:15 PM GMT - Time Source: server- IP address: 20.108.247.124
- Email viewed by Ben Dowling (btldowling@gmail.com)
2023-08-21 - 10:59:17 PM GMT- IP address: 172.224.227.28
## Document e-signed by Ben Dowling (btldowling@gmail.com)
Signature Date: 2023-08-22 - 9:12:22 AM GMT - Time Source: server- IP address: 94.0.99.53
- Email viewed by Cal Corkery (calcorkery91@googlemail.com)
2023-08-22 - 5:17:59 PM GMT- IP address: 66.249.93.3
Signer Cal Corkery (calcorkery91@googlemail.com) entered name at signing as C. Corkery 2023-08-25 - 11:16:06 AM GMT- IP address: 138.124.226.132
Document e-signed by C. Corkery (calcorkery91@googlemail.com)
Signature Date: 2023-08-25 - 11:16:08 AM GMT - Time Source: server- IP address: 138.124.226.132
Agreement completed.
2023-08-25- 11".16".08 AM GMT
. Adobe Acrobat Sign
**REGISTERED CHARITY NUMBER: 229734**
## **PORTSMOUTH AND DISTRICT FRIENDLY SOCIETIES HOMES**
## **REPORT OF THE TRUSTEES AND UNAUDITED FINANCIAL STATEMENTS**
## **FOR THE YEAR ENDED**
**31 DECEMBER 2022**
**PORTSMOUTH AND DISTRICT FRIENDLY SOCIETIES HOMES**
**CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022**
||**Page**|
|---|---|
|**General Information**||
|**Statement of Financial Activities**||
|**Balance Sheet**||
|**Notes to the Financial Statements**||
|**Independent Examiners Report**||
|**Report of the Trustees**|**10**|
## **PORTSMOUTH AND DISTRICT FRIENDLY SOCIETIES HOMES**
## **CHARITY INFORMATION FOR THE YEAR ENDED 31 DECEMBER 2022**
**HONORARY SECRETARY:** Cllr C Corkery **HONORARY TREASURER:** Cllr C Corkery **TRUSTEES:** B Dowling Cllr G Vernon-Jackson Cllr C Corkery Cllr S Pitt A Kille **HOMES SITUATED AT:** Glasgow Road Milton Portsmouth Hampshire PO4 8HS **CHARITY NUMBER:** 229734 **ACCOUNTANTS:** Morris Crocker Chartered Accountants Station House Havant Hampshire PO9 1QU **BANKERS:** Lloyds Bank plc 38 London Road North End Portsmouth PO2 0LN
Page 1
## **PORTSMOUTH AND DISTRICT FRIENDLY SOCIETIES HOMES**
## **STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2022**
|**Income:**
Friendly Society's donations
Maintenance contributions
Water heater contributions
Sundries
**Other income:**
Investment income
Deposit account interest
**TOTAL INCOMING RESOURCES**
**Expenditure:**
Telephone
Postage and stationery
Advert
Subscriptions of National
Association of Almshouses
Xero subscriptions
Sundry expenses
Accountancy
Payroll
Wages, social security and pensions
Rates and water
Insurance
Electricity and gas
Repairs and decorations
Health and safety
PRHA management fees
Legal and professional fees
Bank charges|Unrestricted
Funds|Unrestricted
Funds|Restricted
Funds|Restricted
Funds|Restricted
Funds|Restricted
Funds||2022
Total|||2021
Total
£
3,380
77,636
1,070
120
82,206
3,261
38
3,299
85,505
735
554
-
295
-
1,227
2,028
511
15,897
6,688
2,002
1,570
35,308
-
-
-
-
66,815|
|---|---|---|---|---|---|---|---|---|---|---|---|
|||£
3,565
78,660
1,034
128
83,387
3,194
204
3,398
86,785
932
587
575
309
291
1,106
2,130
517
16,974
3,402
2,180
1,530
44,857
5,158
4,578
1,440
-
86,566||||£
-
-
-
-||£
3,565
78,660
1,034
128
83,387
3,194
204
3,398
86,785
932
587
575
309
291
1,106
2,130
517
16,974
3,402
2,180
1,530
44,857
5,158
4,578
1,440
-
86,566||||
|||||||-||||||
|||||||-
-||||||
|||||||-||||||
|||||||-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-||||||
|||||||-||||||
Page 2
## **PORTSMOUTH AND DISTRICT FRIENDLY SOCIETIES HOMES**
## **STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2022 (CONTINUED)**
|**Depreciation:**
Office equipment
**TOTAL EXPENDITURE**
**NET INCOME**
Investment (losses)/gains
**NET MOVEMENT IN FUNDS**
Total funds brought forward
**TOTAL FUNDS CARRIED FORWARD**|Unrestricted
Funds
£
150
86,716
69
(46,892)
(46,823)
1,879,996
1,833,173|Restricted
Funds
£
-
-
-
-
-
62
62|
|2022
Total
£
150
86,716
69
(46,892)
(46,823)
,880,058
,833,235||2021
Total
£
188
67,003
18,502
60,712
79,214
,800,844
,880,058|
|---|---|---|---|---|---|---|
||||1
1||1
1||
Page 3
## **PORTSMOUTH AND DISTRICT FRIENDLY SOCIETIES HOMES**
## **BALANCE SHEET 31 DECEMBER 2022**
|Notes
**FIXED ASSETS:**
Freehold property
2
Office equipment
2
Investments
3
**CURRENT ASSETS:**
CMF bank account
ERF bank account
Instant bank account
Scales Gift account
Current account
Debtors
**CREDITORS:**
Accrued expenses
Creditors
**NET ASSETS**
**FUNDS:**
Unrestricted funds – reserve funds
Restricted funds
**TOTAL FUNDS**||2022|£
1,425,283
407,952
1,833,235
1,833,173
62
1,833,235||2021|
£
1,472,325
407,733
1,880,058
1,879,996
62
1,880,058|
|---|---|---|---|---|---|---|
|||£
984,737
604
439,942
251,976
97,635
44,824
62
42,238
333
437,068
5,158
23,958
29,116|||£
984,737
754
486,834
261,843
85,586
41,608
62
22,128
158
411,385
2,028
1,624
3,652||
The financial statements were approved by the Board of Trustees on ...9th August 2023... and were signed on its behalf by:
C. Corkery ~~……………………~~ C. Corkery (Aug 25, 2023 12:16 GMT+1) ………. Cllr C Corkery – Secretary
Ben Dowling ~~………………………~~ Ben Dowling (Aug 22, 2023 10:12 GMT+1) ……. B Dowling – Chair Trustee
Page 4
## **PORTSMOUTH AND DISTRICT FRIENDLY SOCIETIES HOMES**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022**
## **1. ACCOUNTING POLICIES**
## **Basic of preparing the financial statements**
The financial statements of the charity, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) ‘Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2015)’, Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ and the Charities Act 2011. The financial statements have been prepared under the historical cost convention.
## **Income**
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.
## **Expenditure**
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.
## **Tangible fixed assets**
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Freehold property - nil Office equipment - 20% on reducing balance
Freehold property is reflected in the accounts at original cost. Having regard to the estimated useful economic life and residual value, the Trustees consider that a provision for depreciation is not required.
## **Investments**
Investments are included at market value and the unrealised gain or loss is accounted for in the Statement of Financial Activities.
## **Taxation**
The charity is exempt from tax on its charitable activities.
## **Funds accounting**
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.
Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.
Page 5
## **PORTSMOUTH AND DISTRICT FRIENDLY SOCIETIES HOMES**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022**
## **Management and administration of the charity**
No honorarium has been paid in the year.
## **Staff costs**
The average monthly number of employees during the year was as follows:
||2022|2021|
|---|---|---|
|Administrator|1|1|
|No employees received emoluments in excess of £60,000.|||
## **Trustees’ remuneration and benefits**
There were no trustees’ remuneration or other benefits for the year ended 31 December 2022 nor for the year ended 31 December 2021.
## **Trustees’ expenses**
There were no Trustee expenses for the year end 31 December 2022.
Page 6
## **PORTSMOUTH AND DISTRICT FRIENDLY SOCIETIES HOMES**
## **NOTES TO THE FINANCIAL STATEMENTS 31 DECEMBER 2022**
## **2. TANGIBLE FIXED ASSETS**
|**COST OR VALUATION:**
At 1 January 2022
Additions
At 31 December 2022
**DEPRECIATION:**
At 1 January 2022
Charge for year
At 31 December 2022
**NET BOOK VALUE:**
At 31 December 2022
At 31 December 2021
**. FIXED ASSET INVESTMENTS**
COIF Capital (4,183.92 units)
COIF ERF Scheme (1,442.96 units)
M&G Charibond (41,953.75 units)|Historical
Cost
£
35,567
93,236
49,610
178,413||Freehold
property
£
984,737
-
984,737
-
-
-
984,737
984,737
Market
Value
2022
£
76,042
318,460
45,440
439,942|Office
equipment
£
1,793
-
1,793
1,039
150
1,189
604
754
Unrealised
Gain/(Loss)
£
(10,006)
(31,490)
(5,396)
(46,892)||Totals
£
986,530
-
986,530
1,039
150
1,189
985,341
985,491
Market
Value
2021
£
86,048
349,950
50,836
486,834|
|---|---|---|---|---|---|---|
||||||||
||||||||
## **3. FIXED ASSET INVESTMENTS**
All investment assets are held in the UK.
Page 7
## **PORTSMOUTH AND DISTRICT FRIENDLY SOCIETIES HOMES**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022**
## **4. ANALYSIS OF NET ASSETS BETWEEN FUNDS**
|Tangible fixed assets
Investments
Current assets
Current liabilities
**5. MOVEMENT IN FUNDS**
**Unrestricted funds:**
Designated funds
General funds
**Restricted funds:**
Renovation grant
**TOTAL FUNDS**|At 1 January
2022|At 1 January
2022|||||Designated
Funds
£
-
-
407,890
-
407,890
Outgoing
resources|Designated
Funds
£
-
-
407,890
-
407,890
Outgoing
resources|Designated
Funds
£
-
-
407,890
-
407,890
Outgoing
resources||Restricted
Funds
£
Total
Funds
£
-
985,341
-
439,942
62
437,068
-
(29,116)
62
1,833,235
Movement in
investments
At 31 December
2022
£
£
-
407,890
(46,892)
1,425,283
(46,892)
1,833,173
-
62
(46,892)
1,833,235|
|---|---|---|---|---|---|---|---|---|---|---|---|
|||||||||||||
|||£
407,671
1,472,325
1,879,996
62
1,880,058||||£
219
-
219
-
219|||£
-
(150)
(150)
-|||
|||||||||||||
|||||||||||||
||||||||||(150)|||
## **6. RELATED PARTY DISCLOSURES**
There were no related party transactions for the year ended 31 December 2022.
Page 8
## **INDEPENDENT EXAMINERS REPORT TO THE TRUSTEES OF PORTSMOUTH AND DISTRICT FRIENDLY SOCIETIES HOMES**
## **FOR THE YEAR ENDED 31 DECEMBER 2022**
I report on the accounts of the Society for the year ended 31 December 2022, which are set out on pages 2 to 8.
## **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 required.
It is my responsibility to:
- examine the accounts under Section 145 of the 2011 Act
- to follow the procedures laid down in the General Directions given by the Charity Commissioners (under Section 145(5)(b) of the 2011 Act); and
- to state whether particular matters have come to my attention.
## **Basis of the 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 statements 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 to 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.
## Martin Southern
Martin Southern (Aug 21, 2023 14:55 GMT+1)
**M Southern FCA Morris Crocker Chartered Accountants Station House North Street Havant Hampshire PO9 1QU**
## **Date:** ……………… 21/08/2023
Page 9
**PORTSMOUTH AND DISTRICT FRIENDLY SOCIETIES HOMES**
## **REPORT OF THE TRUSTEES**
## **FOR THE YEAR ENDED 31 DECEMBER 2022**
The trustees present their report with the financial statements of the charity for the year ended 31 December 2022. The trustees have adopted the provision of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2015).
## **Objectives and activities**
The aim of the Friendly Societies Homes is to provide accommodation for necessitous people over the age of 60 with a preference for those who are members of Friendly Societies and their widows, living in the area of benefit for five years and able to live independently. The area of benefit is within a 15 mile radius from the Guildhall in the city of Portsmouth.
The main objective of the trustees in recent years has been to bring the housing stock of flats up to a suitable and acceptable standard in today’s market. There are five blocks of flats on the ground floor and first floor only. There are no lifts at the Homes. Following the modernisation and refurbishment, there are a total of 25 flats at the Homes now having been reduced from the original 32 bedsit flats, with flat 88 becoming an office with planning permission in 2016.
## **Public benefit**
The trustees confirm that they have referred to the guidance contained in the Charity Commission’s general guidance on public benefit when reviewing the charity’s aims and objectives and in planning future activities. The trustees refer to public benefit throughout this report.
## **Activities, achievement and performance**
In March 2022 an agreement was made with Portsmouth Rotary Housing Association (PRHA) for PRHA to manage the Almshouses on behalf of the charity. The trustees continued to agree upgrades and modernisation of the Almshouses ensuring that the accommodation complies with landlord safety obligations, is secure and well maintained.
Repairs and Maintenance expenditure increased by 21% compared to the previous year. The increase is attributed in the main to the increase in the cost of labour and materials experienced by the housing sector due to ongoing global economic instability and high UK inflation during the year.
New software finance and property management software was introduced during the year as part of the modernisation of the charity’s administration.
At year end the charity remained financially secure with a strong with a cash at bank position of £437,068, and increase of 6% compared to the previous year. The good financial position of the charity will enable the charity to plan for the future including ensuring the dwellings are energy efficient and meet the requirements of net zero legislation.
The trustees are would like to thank Michelle Lincoln and PRHA staff for delivering an excellent service to the residents and supporting. The Trustees also send their thanks to contractors involved in ensuring the properties are maintained to a good standard.
Page 10
## **PORTSMOUTH AND DISTRICT FRIENDLY SOCIETIES HOMES**
## **FOR THE YEAR ENDED 31 DECEMBER 2022**
## **ANNUAL REPORT FOR 2022 (continued)**
The trustees will hold a minute’s silence to remember our residents who passed away during the year at our next AGM.
The trustees also acknowledge this the 2022 continued to be a difficult time for residents due the impact of the cost of living crisis.
## **Financial review**
Morris Crocker accountants conducted an Independent Examination of the charity’s accounts details of which form part of this report.
A donation was received from the Ancient Order of Foresters (Southampton) in the sum of £3565. The trustees are extremely grateful for the help and support they provide and are very thankful for their kind donations. This money will be used to further update the Homes for the benefit of the residents. The trustees would also like to remind residents of the benefits of belonging to the Foresters or Manchester Odd Fellows as they do provide social events for members and can help with welfare grants when members are in need.
## **Reserves policy**
PDFSH need a reserve to enable planning for long term property maintenance obligations and to continue to be able to further the objectives of the charity.
## **Structure, governance and management**
The name of the Charity is Portsmouth and District Friendly Societies Homes and this is the name used by the trustees. The Registration number of the Charity is 229734. The Trustees’ official address is the office based at Flat 88 Glasgow Road, Southsea, Portsmouth, Hampshire, PO4 8HS.
The Homes are conducted by a Scheme dated 15 October 1985, drawn up by the Charity Commission. The charity is controlled by its governing document and constitutes an unincorporated charity. Any decisions made by the trustees are made at meetings of the trustees which are held regularly. The quorum for all trustee meetings is four.
During the year Andy Kille joined the charity as a Trustee. His experience will complement the skills of existing trustees. There are 5 trustees details of which are contained in this report. 3 are nominative trustees appointed by Portsmouth City Council and two are co-opted trustees (3 vacancies).
PRHA have been delegated via a management agreement to support and advise trustees to ensure good governance and the continued delivery of excellent services to the beneficiaries of the charity.
Approved by order of the board of trustees on ......9th August 2023.... and signed on its behalf by:
C. Corkery Ben Dowling C. Corkery (Aug 25, 2023 12:16 GMT+1) Ben Dowling (Aug 22, 2023 10:12 GMT+1) Cllr C Corkery B Dowling Secretary and Trustee Chair Trustee
Page 11
2023-08-25
## Management accounts 1.01c
## Final Audit Report
Created: 2023-08-21 By: Joe Nicholson (joe.nicholson@prha.co.uk) Status: Signed Transaction ID: CBJCHBCAABAAMD5C110lCdwqbzhnEl7h-EeBz_z8PFdM
## "Management accounts 1.01c" History
Document created by Joe Nicholson (joe.nicholson@prha.co.uk)
2023-08-21 - 1:50:12 PM GMT- IP address: 147.147.211.133
## Document emailed to Ben Dowling (btldowling@gmail.com) for signature
2023-08-21 - 1:50:16 PM GMT
Document emailed to Cal Corkery (calcorkery91@googlemail.com) for signature
2023-08-21 - 1:50:16 PM GMT
## Document emailed to Martin Southern (m.southern@morriscrocker.co.uk) for signature
2023-08-21 - 1:50:16 PM GMT
Email viewed by Martin Southern (m.southern@morriscrocker.co.uk)
2023-08-21 - 1:54:19 PM GMT- IP address: 104.47.20.254
- Document e-signed by Martin Southern (m.southern@morriscrocker.co.uk)
Signature Date: 2023-08-21 - 1:55:15 PM GMT - Time Source: server- IP address: 20.108.247.124
- Email viewed by Ben Dowling (btldowling@gmail.com)
2023-08-21 - 10:59:17 PM GMT- IP address: 172.224.227.28
## Document e-signed by Ben Dowling (btldowling@gmail.com)
Signature Date: 2023-08-22 - 9:12:22 AM GMT - Time Source: server- IP address: 94.0.99.53
- Email viewed by Cal Corkery (calcorkery91@googlemail.com)
2023-08-22 - 5:17:59 PM GMT- IP address: 66.249.93.3
Signer Cal Corkery (calcorkery91@googlemail.com) entered name at signing as C. Corkery 2023-08-25 - 11:16:06 AM GMT- IP address: 138.124.226.132
Document e-signed by C. Corkery (calcorkery91@googlemail.com)
Signature Date: 2023-08-25 - 11:16:08 AM GMT - Time Source: server- IP address: 138.124.226.132
Agreement completed.
2023-08-25- 11".16".08 AM GMT
. Adobe Acrobat Sign
**PORTSMOUTH & DISTRICT FRIENDLY SOCIETIES HOMES Registered Charity No** : 229734 **Correspondence** : Flat 110 Glasgow Road, Southsea PO4 8HS **Telephone** : 02392 861588 **Email** : panddfsh@outlook.com
21 August 2023
Morris Crocker Station House North Street Havant Hampshire PO9 1QU
Dear Sirs
## **Portsmouth and District Friendly Societies Homes**
We confirm that the following representations are made on the basis of enquiries of management and staff with relevant knowledge and experience (and, where appropriate, of inspection of supporting documentation) sufficient to satisfy ourselves that we can properly make each of the following representations to you in connection with your Independent Examination of the charity's financial statements for the year ended 31 December 2022.
## **GENERAL**
- 1 We have fulfilled our responsibilities as trustees under the Charity Act 2011 for preparing financial statements in accordance with applicable law and applicable Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102)(effective 1 January 2015), for being satisfied that they give a true and fair view and for making accurate representations to you. All the accounting records have been made available to you for the purpose of your Independent Examination and all the transactions undertaken by the charity have been properly reflected and recorded in the accounting records. All other records and related information, including minutes of all management and trustees meetings, have been made available to you.
- 2 The financial statements are free of material misstatements, including omissions.
- 3 We believe that the effects of uncorrected misstatements are immaterial both individually and in total.
## **INTERNAL CONTROL AND FRAUD**
- 4 We acknowledge our responsibility for the design and implementation of internal control systems to prevent and detect fraud and error. We have disclosed to you the results of our risk assessment that the financial statements may be misstated as a result of fraud. We have disclosed to you all instances of known or suspected fraud affecting the entity involving management, employees who have a significant role in internal control or others that could have a material effect on the financial statements. We have also disclosed to you all information in relation to allegations of fraud or suspected fraud affecting the charity’s financial statements communicated by current or former employees, analysts, regulators or others.
## **ASSETS AND LIABILITIES**
- 5 The charity has satisfactory title to all assets and there are no liens or encumbrances on the charity’s assets, except for those that are disclosed in the notes to the financial statements.
**3**
- 6 We have recorded or disclosed, as appropriate, all liabilities, both actual and contingent, and have disclosed in the notes to the financial statements all guarantees that we have given to third parties.
- 7 We have no plans or intentions that may materially alter the carrying value or classification of assets and liabilities reflected in the financial statements.
## **ACCOUNTING ESTIMATES**
- 8 Significant assumptions used by us in making accounting estimates, including those measured at fair value, are reasonable.
## **LOANS AND ARRANGEMENTS**
- 9 The charity has not granted any advances or credits to, or made guarantees on behalf of, trustees other than those disclosed in the financial statements.
## **LEGAL CLAIMS**
- 10 We have disclosed to you all claims in connection with litigation that have been, or are expected to be, received and such matters, as appropriate, have been properly accounted for and disclosed in the financial statements.
## **LAWS AND REGULATIONS**
- 11 We have disclosed to you all known instances of non-compliance or suspected non-compliance with laws and regulations whose effects should be considered when preparing the financial statements.
## **RELATED PARTIES**
- 12 Related party relationships and transactions have been appropriately accounted for and disclosed in the financial statements. We have disclosed to you all relevant information concerning such relationships and transactions and are not aware of any other matters which require disclosure in order to comply with the requirements of Charities SORP (FRS 102).
## **SUBSEQUENT EVENTS**
- 13 All events subsequent to the date of the financial statements which require adjustment or disclosure have been properly accounted for and disclosed.
- 14 We confirm that there had been no events since the balance sheet date which require disclosure or which would materially affect the amounts in the financial statements, other than those already disclosed or included in the financial statements.
## **GOING CONCERN**
- 15 We believe that the charity's financial statements should be prepared on a going concern basis on the grounds that current and future sources of funding or support will be more than adequate for the charity's needs. We have considered a period of twelve months from the date of approval of the financial statements. We believe that no further disclosures relating to the charity's ability to continue as a going concern need to be made in the financial statements.
## Yours faithfully
## **Portsmouth and District Friendly Societies Homes**
Ben Dowling ~~.............................~~ Ben Dowling (Oct 3, 2023 11:26 GMT+1) ............................... Signed on behalf of the board of trustees
03/10/2023
Date: ........................................................
Ben Dowling
2023-10-03
## PDFSH Letter of Representation 2022
## Final Audit Report
Created: 2023-10-03 By: Joe Nicholson (joe.nicholson@prha.co.uk) Status: Signed Transaction ID: CBJCHBCAABAAP2KbvRhL5bfD7FPyZySxGTMg9qR7n26c
## "PDFSH Letter of Representation 2022" History
## Document created by Joe Nicholson (joe.nicholson@prha.co.uk)
2023-10-03 - 10:11:41 AM GMT- IP address: 147.147.211.133
## Document emailed to Ben Dowling (btldowling@gmail.com) for signature
2023-10-03 - 10:11:44 AM GMT
## Email viewed by Ben Dowling (btldowling@gmail.com)
2023-10-03 - 10:25:59 AM GMT- IP address: 104.28.89.82
## Document e-signed by Ben Dowling (btldowling@gmail.com)
Signature Date: 2023-10-03 - 10:26:48 AM GMT - Time Source: server- IP address: 31.94.18.103
## Agreement completed.
2023-10-03 - 10:26:48 AM GMT