OpenCharities

This text was generated using OCR and may contain errors. Check the original PDF to see the document submitted to the regulator.

2021-03-31-accounts

William Jones’s Almshouse Charity

ANNUAL REPORT AND FINANCIAL STATEMENTS

for the year ended

31 March 2021

Charity No: 230514

William Jones’s Almshouse Charity Annual Accounts for Year End 31 March 2021

TABLE OF CONTENTS

Page
Reference and administrative details 1
Mission statement and values 3
Report of the trustee 4
Independent Examiner’s report 9
Statement of Financial Activities 10
Balance Sheet 11
Notes to the financial statements 12

William Jones’s Almshouse Charity Annual Accounts for Year End 31 March 2021

Reference and administrative details

Patron Haberdashers’ Company

Trustee Bristol Charities is the corporate Trustee of William Jones’s Almshouse Charity

CEO & Company Secretary Anne Anketell BA (Hons)

Principal office/ registered office 17 St Augustine’s Parade Bristol Avon BS1 4UL Telephone: 0117 930 0301 Email: info@bristolcharities.org.uk Website: www.bristolcharities.org.uk

1 | P a g e

William Jones’s Almshouse Charity Annual Accounts for Year End 31 March 2021

Reference and administrative details (continued)

Property advisers Alder King Pembroke House 15 Pembroke Road Bristol BS8 3BA Independent examiners Milsted Langdon LLP Freshford House Redcliffe Way Bristol BS1 6NL Legal Advisors Womble Bond Dickinson LLP 63 Temple Quay Temple Back East Bristol BS1 6DZ Veale Wasbrough Vizards LLP Narrow Quay House Narrow Quay Bristol BS1 4QA Bankers Handelsbanken 66 Queen Square Bristol BS1 4JP

2 | P a g e

William Jones’s Almshouse Charity Annual Accounts for Year End 31 March 2021

Mission Statement and Values

The William Jones’s Almshouse Charity is part of the Bristol Charities Group and shares its missions, values and purpose:

3 | P a g e

William Jones’s Almshouse Charity Annual Accounts for Year End 31 March 2021

Report of the Trustee

Achievements and Performance

Priority 1

Enhance and Improve current facilities management services provided to residents and leaseholders in Monmouth

The year saw the first full year with the new Facilities Management Service in place and the service was inevitably impacted by the Pandemic. Our contractors initially were only dealing with emergency repairs, but as restriction eased in the summer of 2020 the team recommenced carrying out routine repairs in accordance with Welsh Government guidelines. All compliance tests including Gas safety checks and servicing were also carried out during the year.

The Charity continued to work with Monmouthshire Council in relation to void properties in the context of homelessness to ensure the flow of properties as required.

Priority 2

Recruit a part time dedicated Scheme manager for the Service

Following a successful recruitment process the Scheme appointed its first dedicated scheme manager. This means that for the first time residents have a manager that is based on site rather than a visiting service. The Scheme manager is responsible for Lettings, managing rental income, undertaking all Health and Safety Checks and providing a support service to residents

Priority 3

Maintain levels of satisfaction levels during the transition to the new Repairs and Scheme Manager service model

The results of the Resident satisfaction survey carried out in 2020 at the scheme show that Satisfaction levels with repairs and maintenance remained at the same level. In 2019 satisfaction with the overall maintenance service was 80%.

The results of the 2020 survey show:

In terms of satisfaction with the overall service provided by the Scheme Manager there was 94% satisfaction with the overall service provided by the Scheme Manager and 100% satisfaction with ease of contact during working hours.

Plans for the year Ahead

Our plans and objectives for the year ahead include

4 | P a g e

William Jones’s Almshouse Charity Annual Accounts for Year End 31 March 2021

Legal structure, governance and management

William Jones’s Almshouse Charity is a registered charity number 230514. The charity is governed by a scheme of the Charity Commission dated 12 July 2001, modified by a scheme dated 3 October 2007 and by special resolution of the Trustee dated 23 June 2011.

The charity shares the governance and management structure of Bristol Charities. Day to day management of the charity is delegated to the Chief Executive (Anne Anketell). The Chief Executive reports progress on key areas of work to the Board on a regular basis. The address of the principal office of the charity as well as names of the charity’s Trustee, Bristol Charities, can be found on pages 1 to 2.

Training induction and appraisal of trustees

Bristol Charities is the sole corporate trustee of William Jones’s Almshouse Charity and therefore the following paragraphs relate to the trustees of Bristol Charities.

New Trustees take part in a Structured Induction Programme, attending meetings with key staff and other Trustees, visiting projects and sites and are encouraged to attend all committees to really get an understanding of the work of the charity. This year the charity developed and introduced a comprehensive Induction Pack.

Trustees are sent information on a regular basis on training courses and briefings. A regular item has been introduced to the Board of Trustees meeting agenda to provide updates on policy/legislation changes. Trustees who have attended training are encouraged to share knowledge with fellow Trustees.

The Chair meets with each Trustee on an annual basis to review their performance and to receive feedback. A summary of those meetings is reported to the Nominations Committee. A Formal Trustee Appraisal Policy and Procedure is being implemented and this was being developed in the year.

Public benefit

The objects and aims of William Jones’s Almshouse Charity are contained in the governing scheme dated 12 July 2001.

Its objects include the provision of housing accommodation for beneficiaries who

The Trustees have considered the Charity Commission guidance on public benefit from section 17 of the Charities Act 2011. We believe that the work of William Jones’s Almshouse Charity has directly benefited people by

The Trustee’s Report section on page 4 sets out the aims and strategies of the charity and demonstrates how the aims and activities of the charity during the year were carried out for the public benefit.

Pay policy for senior staff

The pay of the senior staff is reviewed annually by the Remuneration Committee.

5 | P a g e

William Jones’s Almshouse Charity Annual Accounts for Year End 31 March 2021

Risk Management

The Board of Trustees oversees risks annually with additional operational and financial risk assessment through delegation to the relevant committee and to the Audit and Health & Safety Committee.

It oversees its responsibility through its review of the effectiveness of the charity’s Risk Framework. This framework is designed to support informed decision-making regarding the risks that affect the charity’s performance and its ability to achieve its objectives.

Management of risk is embedded into our day-to-day business activities and wellestablished processes and policies are in place to manage them. All our employees have a role in reducing risk through our internal control framework.

Risks are recorded in a risk register and are evaluated in terms of impact and likelihood. The register also provides for a consistent approach to identifying assessing and dealing with the risks facing the charity so as to ensure they do not exceed the level of risk the charity is willing to assume. The register is designed to manage, rather than eliminate the risks to the charity’s objectives and to provide reasonable, but not absolute assurance against material misstatement or loss.

The Audit and Health & Safety Committee biannually reviews the results of the risk reviews undertaken by management and approves an annual risk-based internal audit plan which covers the major risks identified.

Principal Risk and uncertainties

Trustees and staff have, during the year, reviewed the principle risks to the charity. Actions to mitigate these risks have been developed and progress on these actions monitored regularly at both Board and Senior Team level. Trustees are satisfied that these mitigation actions have reduced the following risks to an acceptable level:

Risk: Management Actions:
The Charity’s Income Streams
are adversely impacted by
Covid 19
Use multiple sources to advertise vacancies including choice-
base lettings and local adverts

New scheme manager to facilitate a speedy response to referrals

Build waiting list

Management scrutiny of Voids, Rental Income and Arrears

Lettings activity resumed immediately restrictions are lifted in
Wales
Major
Outbreak
of
Covid
either
in
a
scheme
or
amongst
staff
results
in
serious
illness/death
and
Business Interruption
Risk Assessments undertaken for all buildings and staff

Covid Secure measures in place in all schemes

Cleaning regime in place for communal areas

Vaccination rollout promoted and supported for staff and
residents
Poor service delivery leads to
customer dissatisfaction		  Quarterly contract review meetings with facilities management
agent
 Review of key performance indicators and other performance
data
Undertake customer satisfaction survey

6 | P a g e

William Jones’s Almshouse Charity Annual Accounts for Year End 31 March 2021

Financial review

The charity reported total income for the year of £206,763 (2020: £194,790) and expenditure for the year of £239,259 (2020: £246,263), giving a deficit for the year of £32,496 (2020: £51,473). The deficit has been reduced year on year through a combination of a reduction in property voids in the year and careful management of costs.

2020-21 represents the second year that a planned preventative maintenance arrangement has been in place with Alder King LLP. This arrangement has been extended for a minimum of three years from 1 April 2021 after a rigorous procurement exercise. The arrangement should reduce the level of unforeseen reactive maintenance expenditure and allow the charity to smooth its costs over a longer period and therefore budget for these costs with more confidence.

Going concern and reserves policy

The trustee has continued to monitor the effects of the Covid-19 pandemic both during the year and since the year end and has made changes to the charity’s operations accordingly.

Under the terms of the charity’s Reserves Policy and in forming a view on the charity as a Going Concern, the trustee has noted:

The trustee has determined that an appropriate level of free reserves is:

One month of projected operating costs (i)
One year of almshouse sinking fund contributions (ii)		 £
16,000
32,000
48,000

(i) One month of operating costs is deemed appropriate as the nature of these activities means that one month is likely to represent a maximum time period over which they may be required to operate without any additional income.

(ii) This represents the annual contribution required to the charity’s almshouse sinking fund in order to build up sufficient funds to cover the cost of the likely cyclical maintenance programme over the life of that programme.

By contrast, the balance on unrestricted funds at the year end was £181,033, which is £133,033 ahead of target. The trustee has determined that this is appropriate given:

7 | P a g e

William Jones’s Almshouse Charity Annual Accounts for Year End 31 March 2021

The annual report was approved by the Trustee of the Charity on 21 September 2021 and signed on its behalf by:

Richard Gore (Chair of Trustees, Bristol Charities)

8 | P a g e

William Jones’s Almshouse Charity Annual Accounts for Year End 31 March 2021

Independent Examiner’s Report

I report to the charity trustee on my examination of the accounts of the charity for the year ended 31 March 2021.

Responsibilities and Basis of Report

As the charity’s trustee, you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 (“the Act”).

I report in respect of my examination of the charity’s accounts carried out under section 145 of the 2011 Act and in carrying out my examination I have followed the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.

Independent Examiner’s Statement

I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:

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.

Mrs S R Jenkins ACA For and behalf of Milsted Langdon LLP Chartered Accountants Freshford House Redcliffe Way Bristol BS1 6NL

Date:

9 | P a g e

William Jones’s Almshouse Charity Annual Accounts for Year End 31 March 2021

Statement of Financial Activities

Unrestricted
Funds
Notes
£
Income and Endowments
Charitable activities
2
200,637
Investment income
3
184
Other incoming resources
4
1,127
Total
201,948
Expenditure on
Charitable activities
5
211,682
Other expenditure
6
-
Total
211,682
Net (expenditure)/income
(9,734)
Transfers between funds
7
(1,464)
Net movement in funds
(11,198)
Reconciliation of funds
Total funds brought forward
14
192,231
Fund balances carried forward
181,033		 Unrestricted
Funds
Notes
£
Income and Endowments
Charitable activities
2
200,637
Investment income
3
184
Other incoming resources
4
1,127
Total
201,948
Expenditure on
Charitable activities
5
211,682
Other expenditure
6
-
Total
211,682
Net (expenditure)/income
(9,734)
Transfers between funds
7
(1,464)
Net movement in funds
(11,198)
Reconciliation of funds
Total funds brought forward
14
192,231
Fund balances carried forward
181,033		 Restricted
Funds
£
-
5
4,810		 Endowment
Funds
£
-
-
-		 Total
2021
£
200,637
189
5,937
206,763
236,292
2,967
239,259
(32,496)
-
(32,496)
1,358,745
1,326,249		 Total
2020
£
190,432
471
3,887
201,948 4,815 - 194,790
211,682
-		 180
2,967		 24,430
-		 244,353
1,910
211,682 3,147 24,430 246,263
(9,734)
(1,464)		 1,668
1,464		 (24,430)
-		 (51,473)
-
(11,198)
192,231		 3,132
14,477		 (24,430)
1,152,037		 (51,473)
1,410,218
181,033 17,609 1,127,607 1,358,745

All of the charity’s activities derive from continuing operations during the above two periods.

The funds breakdown for 2020 is shown in note 14.

10 | P a g e

William Jones’s Almshouse Charity Annual Accounts for Year End 31 March 2021

Balance Sheet – Charity Number 230514

2021 2020
Notes £ £
FIXED ASSETS 1,881,295
Tangible assets
8		 1,923,701
CURRENT ASSETS
Debtors
9		 10,364
148,842		 9,153
Cash at bank and in hand 57,857
Total current assets 159,206 67,010
LIABILITIES
Creditors falling due within one year
10		 (204,909) (83,123)
Net current assets (45,703) (16,113)
Total assets less current liabilities 1,835,592 1,907,588
(509,343)
Creditors falling due after more than one year
10		 (548,843)
Net asets 1,326,249 1,358,745
FUNDS
Unrestricted funds
14		 181,033 192,231
Restricted income funds
14		 17,609
1,127,607		 14,477
Endowment funds
14		 1,152,037
Total charity funds 1,326,249 1,358,745

The notes on pages 12 to 20 form part of these accounts.

The financial statements of William Jones’s Almshouse Charity were approved by the Board of Trustees and authorised for issue on 21 September 2021 and signed on their behalf by:

Richard Gore (Chair of Trustees, Bristol Charities) Date: 21 September 2021

11 | P a g e

William Jones’s Almshouse Charity Annual Accounts for Year End 31 March 2021

Notes to the Financial Statements

1. Accounting policies

Basis of Preparation

The financial statements have been prepared in accordance with 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 2019) (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland.

Going Concern

The charity’s activities and future plans are set out in the Trustee’s report.

The charity manages its activities with positive unrestricted bank balances. The Trustee’s forecasts and projections, taking account of the ongoing impact of Covid-19 and of reasonably foreseeable changes in income and expenditure, show that the charity should be able to continue to operate on this basis.

Based on the above the Trustee has a reasonable expectation that the charity has adequate resources to continue for the foreseeable future. Accordingly, the Trustee continues to adopt the going concern basis in preparing the report of the Trustee and the Financial Statements.

Income and endowments

All income is recognised in the Statement of Financial Activities on an accruals basis. Income has been recognised gross on the basis of entitlement and reliable measurement.

Rental income from housing properties is included on a receivables basis.

Investment income is recognised on an accruals basis.

Other incoming resources is recognised on an accruals basis when there is entitlement, and the receipt is probable, and the amount can be measured with sufficient reliability.

Expenditure

Expenditure is recognised when a liability is incurred. The majority of costs are directly attributable to activities in furtherance of the objects of the charity.

Support costs

Support costs for residents have been allocated to activity cost categories on a basis consistent with the use of resources (e.g. allocating staff costs by time spent and other costs by their usage).

Governance costs

Governance costs include those incurred in the governance of the charity and its assets and are primarily associated with constitutional and statutory requirements.

12 | P a g e

William Jones’s Almshouse Charity Annual Accounts for Year End 31 March 2021

1. Accounting policies (continued)

Value added tax

Value Added Tax (VAT) is not recoverable by the charity and expenditure is shown in the accounts inclusive of VAT.

Tangible fixed assets

Housing properties are initially stated at cost. The cost of such properties includes the cost of acquiring land and buildings, development expenditure, and expenditure incurred in respect of improvements which increase the future net income stream. Interest is capitalised up to the date of practical completion of the relevant scheme.

Depreciation is charged on a straight-line basis as follows:

a. Housing Properties

a. Housing Properties
Component Useful Economic Life (Years)
Kitchens, Bathrooms, Heating 20
Roof, Windows, Lift 20-30
Structure 100

b. Fixtures, fittings and equipment

b. Fixtures, fittings and equipment
Component Useful Economic Life (Years)
All 5

Depreciation is split between the unrestricted and endowment funds pro rata to the net book value of the underlying fixed assets.

No value is attributed to the land owned by the charity. Historical cost information is no longer available for this property and the Trustees consider that attempts to provide valuations on an existing use basis would produce no useful or reliable information. If it were possible to base a provision for depreciation on historical cost, it is probable that the amount would not be material.

Debtors

Debtors are recognised at the settlement amount net of any discounts offered. Prepayments are valued at the amount prepaid after taking account of any discount due.

Creditors

Creditors are recognised when the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors are normally recognised at their settlement amount after allowing for any discounts due.

Taxation

William Jones’s Almshouse Charity is a registered charity and as such is entitled to relevant tax exemptions on its charitable income and gains properly applied under normal circumstances for its charitable purposes.

13 | P a g e

William Jones’s Almshouse Charity Annual Accounts for Year End 31 March 2021

1. Accounting policies (continued)

Funds Structure

Designated funds represent unrestricted funds which have been earmarked by the charity for specific purposes. They include an amount representing the net book value of fixtures, fittings and equipment.

Unrestricted funds represent income received which is expendable at the discretion of the trustees in furtherance of the objects of the charity.

Restricted reserves represent the amounts charged to householders as service charges less costs incurred relating to the Householders share of the common areas.

Endowment reserves represent the original endowment of the charity which was used to invest in freehold land and buildings less the depreciation of endowment properties.

2. Incoming resources from charitable activities

Charitable activity: providing almshouse accommodation

Maintenance charges
Heat and water charges
Losses from voids
Total almshouse income		 2021
£
186,389
14,891
(643)
200,637		 2020
£
181,954
13,174
(4,696)
190,432

In the years ended 31 March 2021 and 31 March 2020 all income was attributable to unrestricted funds.

3. Investment income

Investment income relates to interest earned on cash deposits.

The investment income attributable to restricted funds relates to interest earned on cash deposits held within the leasehold common parts sinking fund.

4. Other incoming resources

Other incoming resources allocated to restricted funds relate to service charges received from residents of the ten privately owned leasehold properties on the site to cover their share of maintenance costs for the shared areas. Other incoming resources also includes amounts for repairs and maintenance costs recharged to almshouse residents.

Included in unrestricted other incoming resources is £872 relating to receipts from the Coronavirus Job Retention Scheme, relating to one member of furloughed staff.

In the year ended 31 March 2020 there was £250 attributable to unrestricted funds and £3,637 attributable to restricted funds.

14 | P a g e

William Jones’s Almshouse Charity Annual Accounts for Year End 31 March 2021

5. Analysis of expenditure on charitable activities:

Charitable activity: providing almshouse accommodation

Maintenance
Professional Fees
Other Property Costs
Resident Support Costs
Staff costs
Loan Interest
Management
Administration
Governance
Depreciation
Total expenditure		 Unrestricted
Restricted
Endowment
Total		 Total
Funds
Funds
Funds
2021
2020
£
£
£
£
£
59,221
-
-
59,221
63,148
384
-
-
384
9,602
25,538
-
-
25,538
28,277
1,622
-
-
1,622
1,557
32,776
-
-
32,776
23,996
15,996
-
-
15,996
20,887
51,313
-
-
51,313
46,861
3,437
-
-
3,437
4,338
3,420
180
-
3,600
3,320
17,975
-
24,430
42,405
42,367
211,682
180
24,430
236,292
244,353

In the year ended 31 March 2020 the amounts of expenditure attributable to unrestricted funds, restricted income funds and endowment funds were £219,752, £171 and £24,430, respectively.

6. Other expenditure

When William Jones’s Almshouse was built, ten private houses were also built on the site to help fund construction of the new almshouse. The houses were sold by the developer on long leases. The charity manages the site and charges a service charge to the leaseholders (see note 4). During the year, £2,967 (2020: £1,910) of the costs of maintaining the site, facilities and administration have been allocated to the service charges paid by the ten private leaseholders.

7. Transfers

£1,464 (2020: £1,255) has been transferred from almshouse funds to a sinking fund for future maintenance of the site areas and facilities shared with the ten private leasehold houses.

15 | P a g e

William Jones’s Almshouse Charity Annual Accounts for Year End 31 March 2021

8. Tangible fixed assets

Cost
At 1 April 2020 and 31 March 2021
Depreciation
At 1 April 2020
Charge for the year
At 31 March 2021
Net book value at 31 March 2021
Net book value at 31 March 2020		 Freehold land
Fixtures, fittings
& buildings
& equipment
Total
£
£
£
2,194,421
14,094
2,208,515
275,666
9,149
284,815
40,839
1,566
42,405
316,505
10,715
327,220
1,877,916
3,379
1,881,295
1,918,755
4,945
1,923,700

For insurance purposes the value of the charity’s freehold land & buildings is £4,109,709 (2020: £4,105,630).

9. Debtors

Due within one year:
Prepayments
Trade debtors
Total debtors
0. Creditors
Due within one year:
Repayments due on loan from group entity
Amounts owed to parent company
Amounts owed to group entity
William Jones's Schools Foundation loan
Trade creditors
Accruals and deferred income
Other creditors		 2021
£
17
10,347
10,364
2021
£
37,487
57,041
71,235
480
2,011
11,336
25,319
204,909		 2020
£
45
9,108
9,153
2020
£
34,910
303
695
480
1,129
24,341
21,265
83,123

10. Creditors

16 | P a g e

William Jones’s Almshouse Charity Annual Accounts for Year End 31 March 2021

10. Creditors (continued)

Due after more than one year:
William Jones's Schools Foundation loan
Repayments due on loan from group entity		 2,021
£
1,440
507,903
509,343		 2,020
£
1,920
546,923
548,843

Please also see further information on the William Jones’s Schools Foundation Loan in note 11. Further information on the Orchard Homes Loan is shown in note 12.

11. Loan from William Jones’s Schools Foundation

Loan value at 1 April
Repayments made during the year
Loan value at 31 March
Due within one year
Due after more than one year		 2021
£
2,400
(480)
1,920
480
1,440
1,920		 2020
£
2,880
(480)
2,400
480
1,920
2,400

The loan is interest free and terms require £480 to be repaid per annum.

12. Loan from Orchard Homes

Orchard Homes is a wholly owned subsidiary of Bristol Charities whose main objective is to provide almshouse accommodation for poor persons resident in the City of Bristol.

Orchard Homes has agreed to lend to William Jones’s Almshouse Charity up to £750,000.

Interest is charged on the outstanding balance, compounded monthly, at an interest rate of 2.73% above the annual Bank of England base rate. The loan term is 21 years from 1 August 2012.

Loan value at 1 April
Interest charged
Repayments made during the year
Loan value at 31 March		 2021
£
581,833
15,996
(52,439)
545,390		 2020
£
615,549
20,887
(54,603)
581,833

17 | P a g e

William Jones’s Almshouse Charity Annual Accounts for Year End 31 March 2021

12. Loan from Orchard Homes (continued)

Due within one year
Due after more than one year		 2021
£
37,487
507,903
545,390		 2020
£
34,910
546,923
581,833

13. Related party transactions

The charity has taken advantage of the exemption under FRS 102 Section 33 not to disclose transactions with charities, 100% of whose voting rights are wholly controlled within Bristol Charities.

There were no other related party transactions with the charity.

14. Statement of funds

Unrestricted funds
Restricted funds
Endowment funds
Unrestricted funds
Restricted funds
Endowment funds		 Balance at
Balance at
1 April
31 March
2020
Income
Expenditure
Transfers
2021
£
£
£
£
£
192,231
201,948
(211,682)
(1,464)
181,033
14,477
4,815
(3,147)
1,464
17,609
1,152,037
-
(24,430)
-
1,127,607
1,358,745
206,763
(239,259)
-
1,326,249
Balance at
Balance at
1 April
31 March
2019
Income
Expenditure
Transfers
2020
£
£
£
£
£
222,085
191,153
(219,752)
(1,255)
192,231
11,666
3,637
(2,081)
1,255
14,477
1,176,467
-
(24,430)
1,152,037
1,410,218
194,790
(246,263)
-
1,358,745

Unrestricted funds have no restrictions and can be used for any class of expenditure.

Restricted funds represent sinking funds held to cover major future repairs on shared leasehold areas of £16,426 (2020: £14,477) plus money owed in relation to leasehold service charges of £1,183 (2020 - £Nil).

Endowment funds are in respect of the almshouse housing properties.

18 | P a g e

William Jones’s Almshouse Charity Annual Accounts for Year End 31 March 2021

15. Analysis of net assets between funds

Unrestricted
Restricted
Endowment
At 31 March 2021 funds
funds
funds
Total
£
£
£
£
Tangible fixed assets 753,688
-
1,127,607
1,881,295
Current assets 141,597
17,609
-
159,206
Current liabilities (204,909)
-
-
(204,909)
Creditors due after (509,343)
-
-
(509,343)
more than one year
181,033
17,609
1,127,607
1,326,249
Unrestricted
Restricted
Endowment
At 31 March 2020 funds
funds
funds
Total
£
£
£
£
Tangible fixed assets 771,664
-
1,152,037
1,923,701
Current assets 52,533
14,477
-
67,010
Current liabilities (83,123)
-
-
(83,123)
Creditors due after (548,843)
-
-
(548,843)
more than one year
192,231
14,477
1,152,037
1,358,745

16. Independent examiner’s fees

The Independent Examiner’s fees were £3,600 (2020: £3,420), of which £180 (2020: £171) was allocated to the service charges for the private householders.

17. Staff costs

Bristol Charities employs a Scheme Manager and a cleaner at William Jones’s Almshouse Charity. The employees’ salaries, national insurance contributions and pension contributions were charged to William Jones’s Almshouse Charity. Staff costs also include an allocation of Bristol Charities’ Head of Operations, Senior Scheme Manager and Housing Income Administrator.

The total staff costs during the year were £32,601 (2020: £23,996).

18. Trustee remuneration and expenses

No remuneration or expenses were paid by William Jones’s Almshouse Charity to the Trustee during the year, or the prior year.

19. Capital commitments

At the year end there was a capital commitment of £23,452 (2020: £nil) in relation to capital works completed after the year end.

19 | P a g e

William Jones’s Almshouse Charity Annual Accounts for Year End 31 March 2021

20. Other financial commitments

On 1 February 2020 the Bristol Charities group entered into a 15-month contract for Facilities Management Services, ending on 31 March 2021. The contract was re-tendered during the year and a new 36-month contract was entered into with effect from 1 April 2021. William Jones’s Almshouse Charity’s contractual commitment at 31 March 2021 was £18,900 (2020: £6,876).

21. Ultimate controlling party

Ultimate control over the entity is held by Bristol Charities as sole Trustee of William Jones’s Almshouse Charity. Bristol Charities’ charity registration number is 1109141 and its Company registration number is 05402303.

Bristol Charities’ principal purposes are the provision of almshouse accommodation and a Grants program to individuals and institutions. A copy of Bristol Charities’ consolidated group accounts, which include the William Jones’s Almshouse Charity results, can be found on the Bristol Charities website.

22. Statement of Financial Activities – prior year

Income and Endowments
Charitable activities
Investment income
Other incoming resources
Total
Expenditure on
Charitable activities
Other expenditure
Total
Net income/(expenditure)
Transfers between funds
Net movement in funds
Reconciliation of funds
Total funds brought forward
Fund balances carried forward		 Unrestricted
Funds
£
190,432
471
250
191,153
219,752
-
219,752
(28,599)
(1,255)
(29,854)
222,085
192,231		 Restricted
Funds
£
-
-
3,637
3,637
171
1,910
2,081
1,556
1,255
2,811
11,666
14,477		 Endowment
Funds
£
-
-
-
-
24,430
-
24,430
(24,430)
-
(24,430)
1,176,467
1,152,037		 Total
Total
2020
2019
£
£
190,432
193,979
471
280
3,887
3,953
194,790
198,212
244,353
190,102
1,910
2,220
246,263
192,322
(51,473)
5,890
-
-
(51,473)
5,890
1,410,218
1,404,328
1,358,745
1,410,218

20 | P a g e