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2020-12-31-accounts

SELBY ALMSHOUSES AND POOR’S CHARITY ANNUAL REPORT AND UNAUDITED ACCOUNTS

FOR THE YEAR ENDED

31 DECEMBER 2020

Charity number 230816

SELBY ALMSHOUSES AND POOR’S CHARITY

TRUSTEES REPORT FOR THE YEAR ENDED 31 DECEMBER 2020

The trustees present their report and the financial statements of the charity for the year ended 31 December 2020. The trustees have adopted the provisions of the Statement of Recommended Practice (SORP) “Accounting and Reporting by Charities” in preparing the annual report and financial statements of the charity.

The financial statements have been prepared in accordance with the accounting policies set out in notes to the accounts and comply with the charity’s governing document, the Charities Act 2011 and 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 published in October 2019.

The accounts have been prepared on the receipts and payments basis.

AIMS AND OBJECTIVES

The objects of the charity are the management of almshouses and investments.

After defraying from the income all proper costs and management expenses, the trustees shall apply the income of the charity to relieving either generally or individually persons resident in Selby district who are in conditions of need, hardship or distress by making grants of money or providing or paying for items, services or facilities calculated to reduce the need, hardship or distress of such persons subject to certain restrictions contained in the charity commission’s scheme.

The trustees confirm that they have referred to the guidance contained in the charity commission’s general guidance on public benefit when reviewing the charities aims and objectives and in planning future activities.

ACHIEVEMENTS AND PERFORMANCE

2020 will be remembered for the drastic changes to all our lives due to Covid-19 and the pandemic resulting in restricted movement, lockdowns, home schooling, working from home, frequent testing, isolation, shielding and the whole new language which are still part of our everyday lives.

For our Licensees, life continued in one form of another and our Administrator kept in touch with them via telephone to provide some interaction and opportunity to keep us up to date with any issues. Most work on the almshouses apart from emergencies ceased but we were in a good place having replaced doors and windows, improved loft insulation and carried out our Quinquennial review the year before. Our Trustees’ meetings took place online using Zoom and we managed to transact some business but much of our plans were put on hold. We have still not achieved full incorporation of the charity and registration of its property assets but have completed what work we can and are waiting to hear from the Charity Commission.

Our investments, like most organisations, did not fare well but, due to good investments in rented property our income did not fall too much. Towards the end of the year, Trustees also agreed to purchase a further Almshouse in Woodville Terrace, Selby and the charity was able to help a young family gain a home. Trustees felt that we needed to diversify our Almshouse stock so we could offer accommodation to younger families and we will continue to keep this under review and use any cash investments we can to increase the properties we hold.

Licensees were given their usual Christmas bonus to help them defray some of the costs of celebrating Christmas albeit the celebrations were much reduced this year.

During 2020 the charity received 47 applications for grants of which 41 were granted totalling £12,821.

SELBY ALMSHOUSES AND POOR’S CHARITY

TRUSTEES REPORT FOR THE YEAR ENDED 31 DECEMBER 2020 - CONTINUED

RESERVES POLICY

The charity’s policy is to maintain sufficient cash resources to enable its objectives to me met as needed. The trustees continue to review options for investing in assets in order to maximise available funding to fulfil the aims and objectives of the charity.

STRUCTURE GOVERNANCE AND MANAGEMENT

Constitution

Selby Almshouses and Poor’s Charity is a registered charity number 230816 governed by a scheme dated 24 August 1981, as amended 20 June 2001.

The board of trustees hold meetings quarterly to consider matters in line with the connected charities. Interim meetings are held when necessary and some trustees are involved on a regular basis with progress reviews of specific areas.

The board has organised smaller groups to take an overview of the various aspects of the charity’s activities. These are:

Day to day operation of the charity is overseen by the chair supported by an administrator both of whom do so on behalf of the trustee board. All actions are reported to the board at their quarterly meetings.

Appointment of trustees, induction and training

The ex-officio trustees, being the vicar and representatives of the Parish of Selby Abbey, are deemed to be appointed by the Parochial Church Council of the said Abbey. The nominative trustees are appointed by Selby Town Council for a term of 4 years but the person need not be a member of the council.

Co-opted trustees shall be persons who through residence, occupation, employment or otherwise have special knowledge of the town of Selby and specific skills to support the board in their work. They are appointed by the board and serve for a period of 5 years.

All new trustees have a meeting with the chair and other trustees to explain the work and activities of the charity.

CO-OPERATION WITH OTHER CHARITIES

The trust works in connection with other charities. The same trustees serve for Selby Feoffee and Welfare Charity.

REFERENCE AND ADMINISTRATIVE INFORMATION

TRUSTEES

The board of trustees consists of the following trustees who held office during the year as follows:

They shall consist, when complete of:

SELBY ALMSHOUSES AND POOR’S CHARITY

TRUSTEES REPORT FOR THE YEAR ENDED 31 DECEMBER 2020 – CONTINUED

REFERENCE AND ADMINISTRATIVE INFORMATION - CONTINUED

TRUSTEES - CONTINUED

Ex Officio Trustees:

The vicar and churchwardens for the time being of the Ecclesiastical Parish of Selby Abbey

Nominative Trustees

Nominated by Selby Town Council

Co-opted Trustees:

INDEPENDENT EXAMINER

SOLICITORS

N Clemit ACA FCCA JWPCreers LLP Abbey Yard Chartered Accountants Selby Genesis 5 YO8 4PX Church Lane Heslington York YO10 5DQ

Elmhirst Parker Selby YO8 4PX

BANKERS

HSBC Bank plc Market Place Selby YO8 4PA

Approved by the trustees on 19 October 2021 and signed on their behalf by:

…………………………………………… Melanie Davis - Chair

INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF

SELBY ALMSHOUSES AND POOR’S CHARITY

I report to the charity trustees on my examination of the accounts of the charity for the year ended 31 December 2020 which are set out on pages 5 to 7.

Respective responsibilities of trustees and examiner

The charity’s trustees 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 Act and in carrying out my examination I have followed all 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:

  1. accounting records were not kept in respect of the charity as required by section 130 of the Act; or

  2. the accounts do not accord with those records; or

  3. the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a ‘true and fair view’ which is not a matter considered as part of an independent examination.

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.

Nigel Clemit ACA FCCA JWPCreers LLP Chartered Accountants Genesis 5 Church Lane Heslington York YO10 5DQ

20 October 2021

SELBY ALMSHOUSES AND POOR’S CHARITY

RECEIPTS AND PAYMENTS ACCOUNT FOR THE YEAR ENDED 31 DECEMBER 2020

Notes General Endowment
Total		 Total
Fund Fund 2020 2019
£ £ £ £
RECEIPTS
Activities for generating funds
Mandated income
Selby Feoffee and Welfare Charity 11,262 - 11,262 11,071
Investment income
Bank interest 135 - 135 290
Investment income 6,731 - 6,731 6,587
Wayleaves 271 - 271 261
Income from investment property 17,940 - 17,940 17,940
Incoming resources from charitable activities
Income from residents 54,225 - 54,225 58,175
Managing agents’ credit to be returned 10 - 10 -
_ _ __ __
Total receipts 90,574 - 90,574 94,324
_ _ __ __
PAYMENTS
Charitable activities
Charitable donations 2 12,821 - 12,821 8,356
Provision of Almshouses
Gas and electricity 536 - 536 411
Other professional fees 4,678 - 4,678 3,116
General repairs 11,650 - 11,650 5,361
Extraordinary repairs and maintenance 10,370 - 10,370 102,417
Council tax 125 - 125 -
Administration 4,139 - 4,139 3,272
Grass cutting and gardening 2,335 - 2,335 3,135
Insurance 1,328 - 1,328 1,284
Subscriptions 426 - 426 230
Sundry expenses 787 - 787 1,157
Expenses relating to investment properties 4,930 - 4,930 3,623
Independent examiners fee 540 - 540 540
_ _ __ __
54,665 - 54,665 132,902
Purchase of Almshouse - 137,035 137,035 -
_ _ __ __
Total payments 54,665 137,035 191,700 132,902
_ _ __ __
(Decrease)/increase in bank and cash balances 35,909 (137,035) (101,126) (38,578)
Transfer (137,035) 137,035 - -
Bank balance at 1 January 2020 168,522 - 168,522 207,100
_ _ __ __
Bank balance at 31 December 2020 67,396 - 67,396 168,522

SELBY ALMSHOUSES AND POOR’S CHARITY

STATEMENT OF ASSETS AND LIABILITIES AT 31 DECEMBER 2020

Extraordinary Extraordinary
General Repair Endowment Total
Total
Fund Fund Fund 2020
2019
£ £ £ £
£
CASH FUNDS
Bank balances 67,396 - - 67,396
168,522
OTHER MONETARY ASSETS
Mandated income
Selby Feoffee and Welfare Charity 10,168 - - 10,168
11,262
ALMHOUSES
15 Woodville Terrace at cost - - 137,035 137,035
-
The charity also owns 13 Almshouses in Selby which were originally donated to the charity and as such have no
cost and which form part of the endowment fund
INVESTMENT PROPERTY
7 Longley House at cost 172,034 - - 172,034
172,034
7 Masters Mews at cost 176,163 - - 176,163
176,163
_
______		 ______ ______
______
485,232 - - 485,232
348,197
INVESTMENT ASSETS – AT MARKET VALUE
4659 NAACIF Income shares - - 3,896 3,896
4,210
155 NAACIF Income shares - - 129 129
140
2055.079 NAACIF Accumulation shares - 190,127 - 190,127
196,376
79,931.34 COIF Charities Ethical Investment
Fund Income units 220,467 - - 220,467
207,422
_
______		 ______ ______
______
220,467 190,127 4,025 414,619
408,148
LIABILITIES
Independent examiners fee 600 - - 600
540
_
______		 _ _
______
600 - - 600
540

Approved by the trustees on 19 October 2021 and signed on their behalf by:

…………………………………………… Melanie Davis - Chair

SELBY ALMSHOUSES AND POOR’S CHARITY

NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2020

1. ACCOUNTING POLICIES

BASIS OF ACCOUNTING

The charity constitutes a public benefit entity as defined by FRS 102.

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 issued in October 2019, the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102), the Charities Act 2011, the Companies Act 2006 and UK Generally Accepted Accounting Practice.

The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.

FUNDS

The endowment fund represents funds to be held permanently for the purposes of the charity.

The extra-ordinary repair fund represents funds for the purpose of providing for the extraordinary repair, improvement or rebuilding of the almshouses.

General funds are funds which can be used in accordance with the charitable objects at the discretion of the trustees.

2. GRANTS

During the year the charity made 441 (2019 - 26) grants totalling £12,821 (2019 - £8,356). No grant was made in excess of £1,000 in either year.