Rogistsred Charlty Numbgr: 232200 Houslng Corporatlon Nurnr: A3266 The Municipal & Owen Carter Almshouse Charities Report and Accounts 31 December 2024
Th• IlunlclI & (knn Cart•r Alm$hou•• Charltl•s Roport and accounts Cont•nts Charlty Informatlon TnMtea8' report 1nderAnt Auditors, Report statement of Flnancial AdSvllle3 of ch8 in Eqlity 10 11 Notes to th8 account8 12- 17
The Municipal & Owen Cartsr Almshouse Charltles Company Inforniatlon Chalrperson C Evans Secrotary B Norton-srnith Treasurer Y Salomi Trustees C Evans L Holt G Dipple A Calver J Mills - Appointed 0110112024 C Savill - Appointed 0110112024 G Chandler- Appointed 0110112024 Councillor P Cooper- Appointed 0110112024 Councillor B Hitchcock- Resigned 2111012024 R Hucklesby - Resigned 2111012024 Accountants Artema Ltd 18 Kingsburys Lane Ringwood Hampshire BH24 1 EL Auditors Ward Goodman Audit Servi$ Limited 4 Cedar Park, Cobham Road Ferndown Wirnborne Dorset BH217SF Bankers HSBC Santander Registered offlce 1 a Kingsburys Lane Ringwood Hampshire BH24 1EL Charity Registered number 232200 Housing Assoclation number A3266
The Munlcipal & On Cartèr Alm$hou8e Charit The report ofthe t$t5 The Trustees pr8sent tr r•p(t and 4¢nts lor th8 year •nd8fJ 31 Dec&nber 2024. Nam•, reg5ster•d office and constitirti¢n of tho ¢harity Charity name.. Th& Muniupal & (n CarterAlmshouse Chartbas Da of Trust d8•d'. 6 Jawary 1964 harty rogi$tr?tion nuntsr.. 2322CX) Regi8tgral offiw. 138 Mill Lane, Wmbom8. Dor58t. 8H21 1 LN Tel4)hone numLr. 01202 8?50 Alms and oblectlves The charity 15 govemed by a written constiiub'on in which iti objects arg 8et out. Th• objoct of thè chanty is to prowdt shtltèred accomrncJation to eldèrty peopb in the area of benefrf. Applicaiions art carnfvlly etsA$i¢Jerad by the trustees, taking into con$ider8tN)n the indivKluals Criteria includiru finanoal need, chardcter and links with the local crmmunty. There are currently 39 urFit5 availabb foranm¢d4th'Qn at Tr Old RoFeWalk. Hamworthy. Poole, Dorset. The [noth occupa"onal tharge was £398.46, $ftiVe frorn Jung 2024. Thore are 4 units &Yallae for occupation at'st. Georggs lkI1ng$. 33 Church Street. Pi)oJ8. Dors•Y. Th• monthly tional Cha was £303.84, affedNg frtyn June 2024. A row rats for ne 0¢pd prOlS sincè Junè 2022 htsw appliÈ8. Thi8 ratè rose to £460.ÉE from Jur 2024 for ORW atJ £345.72 or St. G8org8s,' bring thtr maintenance charges dth88r to the EquNal8nt Fair Rent values ¢f £498.33 for ORWand £390.00 f¢r St. Georgfrs. survtsywj out in 2022. W8have retsrred to the guidance contained in th• Chgrty Cornmis8ion'sgeneral 9UKlan¢è Dn public nefft wh8n ¥loWIng our aim and cje¢tNes and sn planning our fuiure adivths. Revlow of aclivities and plans for the futuro Intmdu¢flon The board of tru59$ satisfied th& perfowwnance of the charty duriro year and the p08rtion at 31st December 2024. Thoy eonsider that the charty is in a strong position to ccfitnu8 its aLiintss duriro th8 ryiming year, and that th8 chantys assèts are adate to fu1 its obligattons. The partrujlar ways in which objoctiws hav• been achieved are d8scribed kltrrf.. Del8lls ofintanglble In¢om• There has baen no intangible incc4n• In thJ yèar. Del&lls of fundrtlslng acdwllles Th• have been no fundraiing aCtive5 In the yr although many eklY gctivitEs are hekl by the re$entS such as txngo 8veTrts and so¢i81 clubs. Aehi•v•fflent ofobjects and revlowofa¢d The Charity <XTrntinues to provide accDmrnodation to th¢8• most in no8d and ha8 oThJoing pigns to improve th a¢¢omm<yJabon, as detailed below.
Thg Munlclpal & In Carter Almshous• Charltlas Th• rnport of th• trust••g Slgnlfi¢nt chnges. d8volopm8nts Rndplans forthe future The pLAn sinc8 2019. incorporated into th8 annual budggt$. wa$ to repla the oldest kitchens b8throoms at a tirna that is b85t for th• res? along with watsr tank5. The majorty of the properties ha now mod8miswJ. A larga axp8nditur8 on èlèctrical boards 1hrough0 au the propertie5 w&$ rnad8 throughout 2024. Progross Mth th& development of 8 ntr14 prowbes has remained very 5bw, afr many stumbling blc¢k$ thJrIg th8 planning 3ppli¢alv)n pro5$. Planning had t¢on dwiod Mi 2023 and k8 still under the Pro$$ r&applieation with altered d8sign5 throughout 2024. Budgeting and cashflow for th8 build is ting handleil by •xtwnal prq•ct manag•ts thè buikl will b8 Cad ou¢ with th¢ 1p ¢1 • gr•ntkn Hom¢s En9l$nd •long with bankfinan(ing. On srt• lor the ex18ting prop•rt$ at ORW. a new member of Staff has snt time bringing tha ehariW$ 9Overn8nr. policies predureS up to dats. as 11 as Carrying Out an up to date property suwvey to estabksh accurate twdgets tr ongoirg renovat'on work on 81(9. Thg 0rygnl8aUono1 stru¢re and how docislons are ma Thè board oftrustèès m•èt quartèty as a managementcommite. This management ¢ommitto0 distUSSèS ihe Vit18S tsf th• tharty in tsm)s ol financial posilion. ongoing and futur• pr•mis8s maint?nance, well LEing of the reSents aThJ stsffing. Staff ofthe charty have authlty to rarry out day to day work within polick85 agrEed by the managanent tommittee. M•thod of vatlng and ol•ctlon ofth• mnb•r5 of th• boar(l of trust9 trust can b? ¢b¢tsd ot any onè ofth• quart8rfy meetings and the Chair is eleeted annually at the Annual Generd Meeting IAGMI. All th• •xisting chanty board membws are invited to ev•ry m8th"ng. Deasions 8r8 datsrminad by sim& majorty vote$ cast by all th8 individual8 pre8enL with gath indNidual hamng one vote. In the event of an equltY of vots8, the Chair may gxgr¢i8e o 8e¢ond ¥ote a$ Q3Sting vote. There musl be a quorum for any majordètt&sions to madè. charitys memorandum states thorè must bo 13 trustse$ Comprising of 1 ex-officio, 6 ncfflinativo trustees and 6 co-optstiv8 trustegs. Relatlonships with othor group. ¢harltta$ and individuals The tharity works dos•ly wth th• loeal ethimunty and a0 with local community org8nisthn8 Flnancial revi•w Th•finanaal aco)unts a 8et Lmrt on paggs 9-17. Thgfinancial 5taternents have been wepared in compliance the requifftments of the Charity Commission's Staternent of ReCoFntne9d Prartire ISORPI. A¢countin9 and Repothng by Charitiès.. Stat•ment of Recommended Practice applicable to charilHs preparing their accounting in a[dan with the Financial Reporting Stsndard appIabL in tho UK and the Republic of Ireland publi%h8d on 16 July 2014 ISORP 2015 IFRS10211. Thè trustees considerthe finanaal perfom)anr£ by thanty during th• ye¥ to be trwhhy. The Statsm8nt of Finanual Actvthes show net Incoming ourCeS fortho ygar tsf a dèfittit Tha18 ¢1 £68.46812023.' £7,053 deficitl. Th8r8 werE nel ffjaliled intoming resources ol a capital naturè (part- l]uidatign5 of share PDrtldiol Df 23.19012023.. £nill Show within this Iigur•, making net overall incurrod outgoing rèsour¢ks 01 £65,278. The total reserves at the year after 8¢(Lunting for th¢ tharGe in unreslk8ed gairts and bsses (upon revaluation of irwethentsl of £19,115 $urplus12023.' surplus ol £19.2701 stand at £1,020,913. 12023.. £1,C67,0761. The inv&sts))ènt$ values have moved up and down fairfy dramaticalty since 2020, but lv& $èttd som8what Sin 2023. Tho investments still providing dNKlend income even rfthey are not prov*1ng much capital growth at this ts"me. A malorty of the exp8ThJttur• is spent on premi8g¥ Maintenan arKI aLtrninistration.
Th• Municlpal & Owen Carter Almshouse Charftlgs The report of th• trustsos SpsclA¢ ¢hanges in fixod assets There has been ¢apItslis costs in the yèar in rèlatk)n to professional fees forthe proposed dèv•loprrnt ofokj Ropewalk. Availablllty and adoquacy of assats of each of th• funds The board ol truste85 fd satisfiad thatth• ehartys assots are available and adequats to fvifil lis oblvJations. Land and bulldlngs La and Buikliw$ are shown at cost orde8m valu• in th• Charits•s aecounts. The buildings (Induding £40.LK)O for contents) wero formalty v?lued for in$uranc8 pur at È4,040,000 Dn 7 Dmber 2017. This figure has been increased using apprcyriate indexe8 èach •r for insuranc• renew81, with June 2024 values being £5,908,763. The trustsgs th 1hg mofketvalue of the almshtsus•s coukl considerabty in ex$8 of their book value. but as the prorkrties ar8 hekl on permanent en(l¢)%4Ynent for (•rrying OLrt the charrtable purposes of the thanty, they do not considtr that fomal valuation woukl b8 justifd. ResepM8 and Investment pollcles The trustees have r8solved to establish reseNes lo prov for future actwrties, and the truste8$ have wide powers of inve5trnent. Thè poiicy on res•1 KS that to ènsur8 ènough funds ar8 r8tain8d to Produce incom8 which is utilks8d tD 5UPPOrt existing aCtNIti whilst afso buibj cash reserves over the ksng term &r¥J use th8$8 fund5 to further pursuo the Obj&$ of Ihts ¢hartty furthw. Th• inv8Stment )licy is updated gach yearmth in porson TgVW¥ wfth our Charlo$ StbY fur Mart81. Risk managpmenl Thelruste88 identify any major risks to which the charity exp)sed ead) financia year when pari arKI uwleting a strategic plan, in partiaJP4r those related tg Ihg opeTaty'ons financ95 of the charity. Thetrust885 then revpw any major risk&which hava bg8n idgntifi¢d, and 9stsblish 8ysl8ms to mitvJatè thosg ri$k$. Th$ ¢h•rity 1$ $ab"$fd th8t no m)jor ri¥k$ hav¢ bn ¥tir1ed that it 1$ expossd t¢. Logal Slatu$ Th• ¢harity ts an unin¢orwratod charity governgd by a written conststution adopt ty rts members. Th•r• arè nts r•stricb"ons in thè govèming document on the operatr.on of the charty or on rts invesbnent powers, tsthtrr than tho$¢ imp)sed by strr ¢harity law. Organl$allon 8tru¢tur• The Ch81ty has 8 BD8 of Tru5t888 Charity that meets every quarter. Trustee8 durlng tke year C Evan8 L Holi JMI1 G Cwlè A Car C Sawll G Chan¢Jer cOunOr P CoDPgr CouwllrK B Hitche Ths Thrnbers of the Board ofTruses ofth• Charity atthè dat8 the report and accxjunts were approved Er9.. C Evans LHO J Mills G Dipple A¢aer C Savill G Chandlgr C¢unullor P Cooper Banker8 HSBC Bar PLC and Santander CoTPC¥ate Bar Audlto W•rd Goodman AudTt SrviceB Lirnited Chart•r8d Accoutttsnts and Registered Auditors 4 Cedar Part(, Cobham Road Fernd0, Wimbom8 BH217SF
Valuo for money 2024 1.95°/ 0.00% 2023 0.00% 0.00% Rain¥estrn8nt Now Supply delNered- Sodal housini N•w supply d•lNored- Non-social housing G8aring EBrrDA He¥dline sodal hou$¥w cost pèr unit 0ratIng margin (Sodal housing iethng81 % Operating margln IOv&raMI % ftE -7.91% 6.78% .21575.32% -2e07.79% £ 6.039.35 £ 4,e07.51 -17.78°h 4.30% 44.45% -5.21% 4.71% -0 93° The Munlelpal & Owen Carter Almshouse Charftles The report of the trustees Statoment of Tt••5' R•spon51bllltl•s The Trustees are sponSIbKe far preparirKJ The TNstees' Anwal Report and the finantial statements in accordancewilh the aFplicAbL9 law and Llnited Kirodom Accounting Stsndards (United Kingdom Generally AcL¥Pted Accounbng Pr8cic81. Law applKabk to CharitS in Ewland and WaS and fegi8tered socal housng kgBLqtJn requlres the Board of trustees to prepare finanual ststamantsfor each finanaal year whith give a true and fair leW of the stale of affairs of the Charity and of ts IrMing resourc9$ and appli¢8bon of rgsources in that PBriDd. In ptBParift9 th058 finanaal statemenls. Trusts88 ar8 reqred to.'- s8cl Suitab accounting polic5 and Ihen gpply them eonsi¥tenty'. Ob3eN8 the melhrxls and prinapks in the CharitEs SORP., ake jud9èments and tstimote$ that are reasonab and prudentr, State wh8ther applicable aoxunting stwdaid$ and statsm8nt5 of recL¥nmended prddKe hwe been follod, subject to any dep8rture5 di5c105ed aTrJ explained in the fin•n¢wl statem¥nts,. Prepare the financkql stsiements on Ihe goiw ¢trnrn bas¢ unless Inapproprkqts to presumo that tho tharty %wll ty)ntinue to opernte. Th8 trust8eg ar• r8sponsibl8 for keepiny proper rLounting iecord8 which (Jisclg$9 th reasonab awjracy the finafi1 positson of th& charty and enabk thern to ensur6 that th& finarrial statements rx)mply with the Charitks Ael 2011, The Charty IAceounts And Reports) Regulalons 2WS and th• provi$lon$ of thetru deed. Theyaro abo r8SFon$iblè for $ahguarding the assets of the iarrty and hencè foi reasonab $teps forth8 preventkn and eftraud and othw iwulwits. Thè Tru8te8s aro r8sponatsle lor Ihè maintenance and integrty of the Charity and financol information inGluded in thg Chaws onllne PFesenc6. Legislation in the united Kingdom g¢vemlng th& pi8paratk)n Ind dtssemlnatlon of t finan01 statsments rnay drffer Irom ¢tl*rjurtsdithon$. Thls repoFt was approved tythe board on . Signed on its behalf. vans Chair
Ind•ynd•nt Audltorfs Report to the Board ofThe Munlclpal & Owen CartorAlm¥hou8• Charitie8 OpinEo We ha% audited the financial statements ofThe MunicApal & Ck¥en CarterAlm$housg Charitte8 'as$ouatton'l fei t ended 31 D¢trAr 2024 whth conwrtse the Trustee's report. Ihe Slatement of Finanual Activities. StateTnent Df Changes in Equty. the Bani Sheet and notes t¢ financEg1 statements. Includlng a sunmnw of snifant a¢cwnb"ng polirAe$. The frn8nci81 rgwrbrvJ rram8workthat ha5 been applEd in theirpreparaon is applrabl? law and Unrted lQ'ngdom ArYunng Standards, including Finanuèl Repotting Standard 102 Tre Fin8ncMIR8portlNJ sta¥ 8ppllctyle in th& UK8thJRopuWk oflrel&ndlUnltsd ngdoM Gernral¥ Acc•pt8d Accountmg In euf opInn the finanaal 5t8terrEnts'. gwg a tru? and fair viaw ofth? Ststs ofthg woryation'$ affairs ¥8 at 31 DKornber 2024, d of it¥ incoTniThJ resourc8s and 8ppIic8knrb of r85owc6s, induding it8 incom8 al &xp8nditure, for Ihe year then ended". havè been properly [red in atxordanth wh United lan9dom GenÉr¥lty A¢eApted A(%Juntlrg Pfa¢tie, and have been prepared in %Mth thè rtquirerneDts ofthe Charitte$ Act 2011. the Hou5iry Rag8n8ration Ad 2008 and the Accounting Direction for private registered prowders of soaal housing in England 2021. Basls for opln14)n Wè ¢0Th1uL ¢yJraudit in Srdance with Internatnal StaThdards on Auditing IUK)11SA8 IUKII 3nd applicable kw. Our r85pjnsibilits undgr those $tsndaFds a futher de8uq)ed In theAudrtofs resyJnsibilities forthe audit Oft finaft(aal statsments 5BGknn of Dur report. We ale independent of the assoaation in accordancewilh thg dh11 rwuirements that are rekvant to Qur audrt of the finanu81 statemenls In the UK, indudlng the FRC'S EthKal Stsndard. and we hav¢ fu171ed our other •thical rèsponsibilrt In aco)rdanc8 with these wuw))ents. Wé bèlieve that thB audit evideno have cbtained Is suffident and appropr to provkte 8 b8$1$ lor our ¢pinion. CowKIv8loM relatlng to golng concem We hav8 nothing to report in raÈpÈct of the foll1ng matters in reLthn to whkh tho Ns fu rgqulro us to report to you wh&ro". -th& board's use of the goirg conwn basis of acoJunb"TWJ in th? preparati¢n ¢fthe ffinanclal $tatsments i n¢ appwpriat•." tsr -the board has ntst disd08ed in the finandal stalernents any enffied material unrtaMS that may ¢xt svJnThlcant doubt abOUtf asso¢iatiDn's ability to continue to adopt th8 goir ¢ontsm basiy ol accounting for a perThJ of at bast tr¥ee months from th• dato when tho finandal statements are 4uthoris•J for issue. OthprlnfoTmatlon The board is Tgwnslbfe fortho other inforfflatvjn. The other infonn8bw comprises the inforMAtion Induded in the annual roport, Othèr Ihan the financlal statèm8nt$ and our auditorfs report Iheieon. OuTopinKsn on the financial ststements do8s n¢t ¢ovrth? othew informatlon and, •xcepÉto the axtert otsrwkse explicitly $tat•d in eur report, we do not èxpress any forTTTr of as5uranc8 wrKlus(on thgrgon. In ¢onne¢titrn with our audit ofthe fingnfl Statsments. our r•spc*nsibilty is to read thè ¢the InfoThation and. In dolng $0, cènshlgrwhther the othei inforrTiation is materially inrJ)Th8istent with the fin&nrAal 5tstement5 Orour knowbdgg obtained in the audit or 0th8Twise appeats to bè materialty misstated. Wwe id•ntify such material InfX)nsi4tenGE5 or appaient material mi$$latem&nts. we are required to ddeFrnine whether Ihere Is a material mLsstat¥ment In the finanoal stat2ménts or a materEI M$teln1¢f tho other infornation. If, basd on tIEwork have pgrfcthied. w? condude thatthere i& a mada1 misst•tem8nt ofthL8 othtr infortnation, are required to reportthat fact. We have notNNJ to report in this ward.
Indgpendent A08 Roportlo the Board of The Munl¢lpo1 & Owon Carter AlmBhou harltl•s Matters whkh w? org requirgd to rgport by 9xPtk)n havè noihing to rèport in respect of1h• followlNJ matters In relation to whith 1h& Charit IAeeounts and R•portsl R•guLq"ons 20C6 wuir• us to r•wtts you rf. in our tspinth.. the information given in the fin¢1?1 statements is irn¥tent in any matsrial respect the board repryl.. or suffi¢ient accounting records have not be8n kept,. or tho finan&al statements are not in agreement wth the attountry IOrth,. Qr we have not rectrwe(l all the infomialion and explanJbons we wuir& for our aj In addffjon. nothing to rert in respect olthe fdkswng matter wh8re the Hou$iw and Regeneration Act 2008 requires us to report to you rf. in our Dpinion.. a sat(lory syBtem ol control over tran8acti¢ts has not rnaintsin¢d. RPOnsIbIlIo$ of the board As eXIaIn8 more fully in the board's responsibil.eS stat8m8nt set out on pag8 S, thg tthird mornr$ (who ar• aLso the trustees of the association lor the purtx)s&s of charty kw) are responsible for the pparatIOn of tho finanaal slatém•nts and for bw.ng sabsfjed thatthey give a true and fair viow. and for $u¢h intsm81 rnnlrol as the board etell1ne is necessary to enab the preparation of finan•1 $t4tèments that arè fr•e from material misstatement, whelher due to fraud or etror. In preparing the fiTraneK81 staternents, the board is responsiblè for 8ss•$sing tl asgwation's abiltty to continue as a going concem, disclosing, as applicable, matters related to going conorn and using th• going concern basis ol aUntinG unl&&% the board eith8r intends to quIdate th8 assoctratn or to c¢a8¢ opgration$, or has no realistic aernative but to Ilo so. AudMof• r•spon81bileS forthe audilof th? Thnanclal statements We have been apwntsd 0$ auditor undèr secaion 14$ ofthe Charities A¢t 2011 and Sectim 136 of the Housing and Reg8n8raticn Act 2CI)8 and report in a(£ord8nce with regulations made under section 154 01 th• ChArrti•s A¢t 2011 8e¢tson 137 of th8 Housing and RegerEration Act 28. Our obJ'e¢bv8s ar8 to cotain reasonab18 assuraneè about whether the finanal Statements as a who are freefrom rnaterial mi5$tat•mont, whether due to fraud or arror. and to 15$ue an auditorfs report that indLKles our 4>inion. Reasonable 8ssuranc8 Is a hEh level of assuran, txjt not a guatante that an alit eonduct6d in acwrdance with ISAS IUK) will alwa dgted a material misstatement wh8n it eSts. Mi55tatemenls ¢an arisè from Iraud orarror and are con5pJèr•d material rf. indivKJualty gr in the gregat, they ¢ould reasonabty be exp&ted lo influèneè thè a20Ml¢d8c1sKjnS of user5 tsken on the basi5 of Ihese financial statsments. Audit protsdvres perfomied by the ngarn8nt t8arn indudad". 11 l&ntfying and &ss•ssing the deSn dfe#ivenoss ofcontro& management has In pkne to wevent and detsct fraud., 21 Under8tandin9 ht)w thoso ¢hargèd with governance considered and addred th• potsntial for overrid6 of Gontrds or othèr inappropriate influenc8 over Ihe financia5 teportirs $8.. 31 chall81ft9 assumptions and ldgMentS made by management in It8 shjnificant aeeounting trstimates," 41 ldènty.ro and testing joumal •ntrf8s. in partkuLqr any jfAJrnal 8nlrig$ post•d wrth UnsUal *c¢ount eombinations,. and 51 Assessing the e)rtent cf ¢>)mpli8rKe with the leVant Iw and regulath. A further dèscript of ¢uf responsibilitie8 for ts audrt of financial st8tsmts is 10¢gbJ Qn t Financ4al Rewrting Counc41'5 website at.. bvww.frc.cwg.uk1a1t0rsresp0n5lÈIIrt1e$. Thi8 descrpts.on forrn5 part of our 8wlrtorf$ repgrt
Ind?pendgnt Au(W$ Roport to the Board of Tho Municipal & Oww Cartor Almshous• Charfttes Us• of our rwjrt Trs raport is made $ol¢ty t¢ tha assoaon8 brd, as a body, in accordancewrfh Part 4 of th8 Charits IAwounts R8ports1 R8gulations 2008 and section 137 of HousiThJ and Rtganaration Act 2008. Our audit work has been und9rt8ken so thatW8 might state to the 8ssociats"on's board those matters we are rUired to stsle to thèm in an auditorfs report for Th) other puwe. To Ihe fullest gXt¢nt perrnth by Lqw, we dc not accept or a55ume responsibilty to anyone otherthan the assodation and thè assoeith"on's board as a body, fer our audit worf(, forthi8 report, orfor the ownions we have ftsmad. Whon an RSHP k below the thresholds where an audit is required under charity18w. the auditor is apInts undèr s8cts.on 145 of th• Charitie8 Ad 2011. l M Rfyjd Bsc FCA FCCA (Sentsy Statutory Auditor) for and on behalf of Ward G(man Audit ServiTrs Limtt8d Ststylory Auditor 4 Cadar Prk Cotam Road Femdt)wn lThSuial Estate wnbOrntt, D¢)rsèt BH217SF
The Municipttl & Owen Carter Almshouse ChaAtI•s $tat¢m6nt ¢f Flnanclal A¢tlvltles f¢rtho ygar ond•d 31 DK•mber 2024 Income and Expendlture Account Unr88tricted DMlgnatod Fund Funds Total Funds Totsl Fund8 2024 2024 2024 2023 In¢oming Rssourc89 Operating a¢tivth8 in furtherance of ¢h8rrWs obj8ctiv•s Inve¥lrnent inccme 198.725 25,634 198.725 25,634 185,074 30.689 Total Incomlng R88OUKOS 224,359 224,359 215.763 N•t Incomlng Resources availablo for charltable appllcatlons 224,359 224.359 215 763 Charitablè expendlturn MageMent and adrninistralion ol tho charity 292,827 292,827 222.816 T¢lal Resources expond•d 292,827 292.827 222,816 N•1 kncomlng Rwourcès bofor• Tr•nsf•r8 168,4681 168,4681 17.0531 TAnSr8 twOOn funds :. 14 49,093 149,0931 Nrt Incoming Resource¥ lJefor• rovaatIOnS and InlMent a$8ot di$po8al$ 119,3751 149,0931 168,4681 17.0531 R•alised gains on the disposal of inVBStm8nts Unr0811s gain8 on 1nvesbnts in year 3,190 3,190 19.115 15 19,115 19,270 N•t m0M•nt In funds 116,1851 129.978} 146.1631 12,217 Total r•vonuo lunds brought fovNard 27,396 1.039,180 1,lJ87,076 1,054,850 Totsl rovenu• funds rrI•d forward 1009,202 1,020,913 1.067,076 Th8 net rnovement in fund5 rgfwJ to a)ve 1$ the net i1ming $r¢•$ as defined in th¢ Stgrnent ol RernrWnded Practth forAccounting and Reporting issued by Ihe Charty commi68ioner8 lor England & Wales ¥nd is ieconuled to the totsl funds as shown in the Balan Sheet on page 110$ requirad by the said Statement. All actlvltl&* d•rlv• from continulng op8ralion$ The notes and scheduh to thg Statamvniof Flnanclal A¢tlvltlo8 on pag 9 to 17 fo an intsgrnl part of tho8• accounts
The Munlclpal & Owen Carter Almshouse Charltles Ststsmont of Changes In Equlty for tho year ended 31 De¢embgr 2024 De81ated funds lftve8tm6nts Unr•strl¢ted revaluatlon r•s8Th reserve Total As 1 January 2023 819,242 199,762 35,855 1.054.859 Surplusl{D&ficlt) forth8 ffin8ncial yaar 7.053 ,053 Other ctsmprehensive 1ftme for the fin8no81 yèar 19.270 19,270 Total eomwehensivè income for the finela1 year 19,270 7,053 12,217 Transfers I9) 820,148 219.032 27.896 1,087,076 A¥ 1 January 2024 820,148 219.032 27.8 1.067,076 Surplu81{Deftill for the finan$1 year 63,974 63.974 other tt)mprehensNe income for the flnonryal ye¥ 19.115 19.115 Total mprehenSIVe incorne forthe finandal year 19.115 63.9741 144,859 Transfers 149,0931 49,093 As at 31 December 2024 771,055 238.147 13.015 1,022,217 10
The Munlclpal & Owen Carter Almshous8 Charltlas Balanco Sheot as at 31 December 2024 2024 2023 Fix•d ass•ts Tangible assets 243.332 243,332 240.584 240.584 Curr&nt aets Debtors Investrnents held as current assets Cash at bank and in hand 10 513 778,537 43,586 822,636 3,715 859,118 10,804 873,637 Current liabilitlès Crèditors dug wthin one year 12 23.227 122.5381 Nol current assets 799.409 851.ClJ9 Totsl ass•ts less current Ilabilities 1.042,741 1.091,683 Credltors: Amwnts dua after more than ce year 13 121,8281 (24, Net assets 1.020,913 1.C67,076 Capltal and r•sOT¥08 Designated lund8 Investments revaluation reserve Unr&stricl revenue reserves 14 15 16 771.055 238,147 11.711 1,020,913 820.148 219.032 27,896 1,(7,076 C Evans Chair handler Trustee Approved for $Kgnature by the management MmIttee on .. ZF. 2S Thg notes ond 8ch•dul• to the Statgm•nt ¢1 Flnanclal Actlvltlés on page8 9 to 1S forni an Intsgral part ofthese •¢eounts
The Mmlelpal & Owen Cafter Almshou8e Charltlos Notes to the Accounts for thè year ended 31 December 2024 8Mary of SOcant 0¢¢0untlng pollcl•8 Generallnf0mt1On andb8sls ofpryr4110ft The Charty cOr1rttes a publ benefit entity a5 dthed ty FRS102. The financk81 yt8ternerrts ha¥6 b Prepar in accordan wth Accountiw and Reportlng by Charit$,. Statement of Racommalldad Pra¢tice applKablg to Charrt$ preparing their accounts in accordiro wtfv the Finanaal Reporbrrfj Siandard applicab in UK and RepuNiG of lTrknd IFRS1021, th8 Slatement of Recornmended Practice for Soaal Housing Provhjers 2018. the Accounting DireI)n for private registe provwjgrs ¢1 $o¢ial housing In Ergland 2022. Th8 finanual smements are also ppad vnijer the requirements of the Housing and RegeneratiDn Act 2008 and Charl5 Ad 2D11 and LJK Generalty A¢¢ept8d Pradice. Th? financial statemefftts arg ppared on a goin9 (a)nc£m bask, und8r the ht0Cl cost convention 88 modrfd to in¢lude crtain rtem$ at fair value. The ffnan¢l¥l stalem&nts are prented In $terfing which 1$ the luncbonal currenGy of the charity The $nifKant accoun"ng polices appl in the preparatTr of Ihese finanrA81 statements arg $et out bdw_ These polk$ have been c4N%lstentty appl to 1 years present1 unless ot[WISe stated. The charly SORP IFRS 1021 ffi• previ¢u$ yo8r. Accountlng conventlon The financial $tatsmenls are ppared on a going ¢oncern basks, undèr th• his1or1 cost Convention as modthed by the revaluation Df freehokt land a[ buiklin95 and fred a55et inv051m8nts Incom• r•¢ognillo All Incoming resources s In¢lUd in the Ststemenl of Financial Activities ISOFAI when the tharty B galty 8titled to Ihg income after any perf0m1£t ¢ondf(ions havé baen met, th8 amount can te rneasut&J reliabty ad plobab that the incorne V11 b& reied. No amount L8 InCled kni Ihe financlal ateMen1$ forvolunl•or tirne in linè vKth Ihe SORP IFRS 1021. Inv•sthwrtincome Inv&slment in¢orne 1$ eamed threJh hddirtg s5 for investment purp08È& $uch a$ shares and property. It IndUd diviEt8nd$, interesl and txcupatv)nal charges. Interest inrxjme is recognised using the effectwe interest method and dwblènd and occupatnal char9e$ intxjmè 1$ renised as the tharW8 right lo receive payment eSlablhed. Recognltion of Ll8blllll¢s Lmiblmtos arts rwnised on the atrAualB ba$1$ In ac¢ud¢e with nomial ac¢ounling Prin$, moJffied wher¥ necessary in aeeordance wrth the guwjanca given in the Stalement of R8commendad Prac¢irA for Ac¢ounting and Reportin9 L8suèd tsy the Charity Commission8r8for England 8 Wak•$. 12
Tho Munlclpal & oVn CarterAlm8hou$e Charltlès Notes to th• Accounts for th• year ènded 31 Doc•mber 2024 All •xpendkure is acCUnted for on an accru8Ls ba5k4 and has been dassrfd under adIng$ that a99re9 all co$ls relat to the categDry. Expenditure L8 recogni%ed whor• Ihor• is a al or tStruC11 oblyaNon ta rnak• payments to third parN8s, it r6 prebab that th• $•ttkment ill b¢ rgwir¥d and tho omowt ol Iha oblbJaliDn ¢an be mea$ured Tglk8bly. Charitable experJdSture indudas •ll 1xponthre threctly 10¢ lo the 0tr4gcts of the charity and compri8es th8 folloving vths in fuFtsrnn¢¥ of Iho chanfys objectivos The eosts of actNlth% In furthpranc8 of ihe charitls obleth.ves reprn1¥ Ihg ¢OSt of seNic85 aThJ anclLgry tsadiry costs Ihat have be?n Incutt in ¢han¢abb actMIS. Man8gemenl an¢1 admirnstration oftte ch8n Manag8m•nt and administration costs represent exlI1re Incurred in the management of tho ¢haritl$ assèts, organ&satnal all))l$traon and cpIlanCe Charitab and sl•tutory rgquiTOmants. ¢atiDn ofcosts wim typgs ofr•sour¢es expet)ded Admlnblrafv"on exFenditure includes all xpenditur6 not directy related to ¢harlabl aivty. In respecl of certain items of expendtture IL a matterof judgent 8$ to whether SUGh item$ are dlrect charrtable eXndrtur8 or arn Administratwg. and thp Trustee5 have appli&1 what th•y n$¥jor to be rea8oDabb iudgem8nt5 in apPDrth such eosts. Allocatlon Of costs wlthlft typ•s of r•sOurC gxpgndgd AdmlnK8tratKJn expgrKIiLure includp5 all expendrturg not direetty related to direct charats aclnity. In respect of tain itèms of expendrtur• it is a matkr o119&eTrt as to whether suc ilm$ dire¢t charitable exF4gnditure or ale adrnintstrntive, and the trustees hav8 applK8d what they Conser to be re88onabk judgements appOrtnIn suGh ¢osts. Realls8d 8Trdunr••lls•dqaln• Real3ed gains and losses are IrKludod its the a¢¢ount8 on the date at which a contractual obligation 1$ ertèftd inlo. Unr¢altseO galn8 and loss•s are wmputed by r8fererKe to the maEket ¥u8 of tha inv•stmMts at t balancè sheet date, cJmpared lo th• brought forward wsl or ¥aation. and gain8 and105585 arBing on simiiqr te90$ of investment6 are n8tted off. Llaled Investrnertts ha¥£ boon Induded in th8 b8lant sheet at th•tr mid-m•rkotvalu& at th• y•#r end. Tan9lble ftx•dass•ts Tgrngible ffixed assets arn st8t•d at cost depreciatM. Item$ of £40) are not opitaltsed. DepreThathon ha8 bgen provkjed at the followirvj rates in order lo wrrte off the assets (kn t1r •xpefAed residual V8lu• l over estimat uul e¢OnOm IN05. Fhtures, Iurni8hing8 and equipment 3 years slralym line Hou"ngpmpertloS Housing propertie8 stated at Q)8t $5 accumulated depreciallon. and provision lor any imp8lmient. Th8 h¢using property 15 dmded inlo those rnajor components whlch arts consldored to haye 5ubstrdDtially drfferent ustsful OnOMiC Iwes. These ¢ompon&nts aw•then depCIated over their individual usèfvl ecortoml¢ lives. The particu[ c4mpon?nts Klentffied bythe Tiuste85 and their depreuation rates are.. Land Core Bulldkng Bathrcom$ Boiler I hBating Electr Lift 25 >ars 15 year¥ 2Q years 25 years 100 year5 60 years 25 yea 25 years Windows Kitcher 13
Munlclpal & 1>4•n Cart•r Alm8hou8• Charftl•s Not•s to tho Aeeounts for the year ended 31 December 2024 The charty15 an exempt charty withln the rneaning of 5rjEdU 3 of the Ch81th8 Act 2011. Rental$ payabk in SpeCI of operatlng l&ase$ where substantlally all th• b•n8fft8 and rk%ks of ovmarshw r•main wSth Ihè l&ssor. are charged to lh& Statement of Flnan¢L41 AthrtEs as inturrtd. Fun(ts Unrestii¢ted in¢om¢ funds ¥e general fund$ that 8r• availablè for alth¢ trustees th%retion In fwtheran¢e of the objectNes of the chaiity. Dvsginated luTras are unre5tri¢ted funds set a8bY8for purposes atth d%•lTh of lh• liu$ts•s. Roslrfthd income fvnds aw thesè donatèd foru$8 in • partiwlar area orfor $pecfft purpos¢s, lh& ustr of which k% ifrthded to Ihat area or Pu08e. Futher &Wanatton of Ihe noluro and purp of eath fund ks inchJd•d in Ihè note8 to th8 financ4al statements. Wlndln9 up or dIBsoll0Tr of th& charfty If up)n wlndin9 up or dis$Ul)n of Ihe charity thare remain any ats. after the $ati$fa¢tion of #ll debt$ and liabl1rt. the a$$ets represented by Ihe accurnulated lund shall tfanslerred tts some tsth•r chaiilabl& bth or bodks having SIMIr objects to the cha. Nat Incomlng RmOur¢ b•lor• tranthrs 2024 2023 ThlB Is slknl aft•r¢r¢diting:_ Rov•nutrTurnover from ordlnarya¢tlvtw 198,72S 185.074 and aft•r ¢harylng: D•prodaUon 01 tr14ned fixetl assets 2.018 2.018 Soc581 houolng rnt)¥orartd eost8 2024 2023 Rgnts rec*Nable excludir4J 8eNice charges Rèvènue and capltal 9rant$ iecewable So¢Aal housing aetivity expenditure Operating Surplu$ I Idefi¢lcl Voidlosses 194.024 178.134 1228,6151 1170,4701 134,4911 11,940 Sthmant ot oxp¢nw pald to tru$iw or ¢onno¢t¢d persons Expen$e$ paymbnl8 to the Trustèès in tIE year- £nil 12023.. £nill. Analysls of Incomlng mour¢•s and analysls Of managernont and admlnt8tratlr)n costs Th• detaiL4 rnqulred by thÈ stalent ef Practica for Accouniiro ana RIrting k88wJ by the Charty Comm$ssners for England & W8188, shown in th8 Dgtsiled S¢he¢Jule to the Statemant of Flnan¢i•l Athlles on pages 15 tD 16. Inve8tmert In¢¢the 2024 2023 Investrnent inGDrn8 30.689 30.689 14
The Munlclpal & Owen ¢art•rAlmshouso Charltle¥ Notes to the Accounts for the ye•r Ond 31 Dac•mber 2024 7 Staff Cost8 and Emoluments 2024 2023 Gross salarks and wages Empltyo1'¥ National IruArt• C•)nlbutions 29,873 27,653 29.873 27.653 Nwnbers of fiJll lim¢ ¢mpbyee8 or ful timo ul¥ats No employees recgived emoluments in 8XsS of £60,000 There wera no fees 01 othEr remuneration payable to Trustegs Thara was an arnount totalling £Tril12023.. £4411 patd lo Tllte¢ spouse5 in th? yèar. in respect of work carried out lor th• fvlur• sile developmènt. During Ihe year ended 31 December 2024, the tharrty paid É8,19> for accountancy seMcs to Ave1# Tax and Accountancy Lkl. g cornpany which ha$ a directorwho 1$ also a trustee of th& tharty. Cos¢ ofAudliorand Oth•ra¢cou1ng s•Mc•s 2024 20Z3 Book-keeping 8j Audrt fees 9,699 6,282 1S.981 6,043 5,800 11,843 Tanglbl•llxed 4$89ts O•vok*pm•nt at Old Rop• Walk Alrn$hou8e bulldlngB Land at Corfe fumSBhing8 & équipm•nt Toial At 1 January 2024 Add4tr0ns Ai 31 De¢ember2024 56.e62 4.199 60.861 187.875 1,5C 3,5B8 565 4.153 249.625 4,764 2S4.389 187,875 At 1 January 2024 Charyefor Ihe year At 31 O•¢•ml)8r 2024 5.619 1.873 3.422 143 9,041 2,016 At 31 De¢¥mb8r 2024 00.861 180,383 243,332 At 31 December 2023 56.662 182,256 1.500 Al a8$9t8 ar• used forthred ¢harhable puws and there arg ng Inalnab or O[l¢•I ass8ts. 240,584 Alm$hous¢ bulldlngs cornprI ofr. Old Ro Walk. H8mworthy SL Georgos Buildinos, Poole T¢)tsl Cost ValuatKJn Grant Dapreoation 221.219 20,0 188.7521 6.D80 146,3B7 30,408 5,0 251.627 2S,QOO 188.7521 7.492 1,412 33,996 15
Mvnlelpal & Cart•r AlrnshouBe CharStles Notss to th• Aeeounts for ttw y*ar •nded 31 December 2024 10 0el>tty¥ 2024 2023 Malntenanc8 chafgès l (pawj in 8dYancel PrepaKI eXn$0 Rem owed from land at Corfo PAYE and Nl 14,4391 11,7631 4,791 613 3.715 11 Investments ld a8 cwr•nt aM•ts 2024 2023 Charks Stanley portfol National As50riatitsn olAlmshouses Common AUmulation lund Ng1ion?l As$4110n of Almshous6s Cornmon Incomè fund Charlbès Officlal- CCLA 280.263 359.175 77,103 61,996 391,380 232,S09 74.603 60,626 859,118 12 CredltOTS: amounts falllng due wlthln ong year 2024 2023 t)rtgage loaTr PAYE and Nl Acthued expenses Tde cr8dltors Net wages 2.5C 2.5CIJ 15,536 11,050 751 22.538 13 Amounts du• aft•r mortt than onF year Included In total abovoare analyAgd rtgage 21,828 24,608 21.828 24,608 The mortgage ban Irom Berough of PeolÈ ia wured by a charge on the almshouses al OVJ Rope W81k, Pool¢. Interest k8 Gharg&s at an annual ratè of 0.7% the capital 1$ due lor repayment by Augusl 2029.
Munlclpal & Owen carterAlmBhoU Charfth$ Not89 to th• Accounts for th• y•arond¢d 31 December 2024 14 DIgnat fvnds Property development fvnd Extsa. ordlnay rgpalr¥ Land & buSfdlng Inonvllquldl Tota Al l January 2024 Movement$ In ygar At 31 Debe[ 2024 so0,0 150,CNJOI 450,WO 185,000 155.148 907 156,05S 820.148 149,0931 771,065 165,OOD Total da863r ndS 771,055 Th•$pxlfi¢ purp010rWhl¢ thgfund$ ara to b• applled are as follovd: The Capital Re58rve Fund rpr•Thts Lmreali$ed gain$ owurring on t ro¥alua.0n of th? invg$tm?nt8. The value in¢rea8e¢ by £19,116 12023 MietsasÈ'. £19,270) ow ¢uJtse of the ar and fhSs i& reflected In th reserve Inote 19. Thg 'Land & buiklings rese5. Eonlinutr lo refie¢t the non Itqvkl element of the charty$ res&rves. This presents the cost of the prop8rtie5 which is financed by the TrusY8 own re$oUr. movement of £9)7 In year roprg$ents Iha amount repatd on the loan used to aule or wllprove Ihe TnJ5Vs propert, les5 the dep8tn Chargg. The Property Development R&setve was crealed lo refl1 the h)ng tem rn8 of thè eh•rity. Thg budge¢ for 2024 does not attount for any mov&m8Tht into the fund and %MII be r•vtewed at the twt ygarend. £fjO.000 of the balane• c8nfjed fonvard has t¢on utili$gd. 8ng a WEmaining balan¢& of £450.Cx)O. This is to equ ¢omF¢nsalg for thè buikl eost to date {up lo plann1 perniissKnl which lotalkgd £60.861 aftor lh8 intsJrr8d exndrtUr8 of £4.199 towards the buiklin9 in the year. The amount held within lJnre5trictsJ funds, L8 rev •ach y•ar and r&prn1$ a Sensib buff•r lor ongthng MaIntenar to supportthè ¢hariV$ current actni1ts. Th& Extraordinary Repalrs Res8r¥e stand$ at £165,000 and has bBen tOPP8d up in thè htar as sIgneant expenditure on rennovatioThs ha$ continue¢ beinging bringing the standards of the properly up to date. Th8 ¢onsider that the remaining 3mount held in thts reserve fund renlains suffKni for the meaffline, wfth no other swJnrficafit oxpendilurt planned. ThB fund 18 considered a5 an ernergen¢y fvnd onty, for rnalor repalr work. wth ongoiThJ renovations bBin9 funded direclty by the unre$trieted re$eNes tg maintan an element of $h)pltCAty to Ihe accounts. Rea80n¥ fgrtr•nBf•r5 of fund A transfer has been made from the Pi¢porty Daveknpment ReSee lund to Ihe unrestrlcled r8venua reserv• fund lo fund cBshfiowafid reialn a $urplus balarKe in the unreslrf¢kd rov¥nua rosgrvefund due lo a deficft in thB ar. Thi5 deficit has corngfrom continue4J on modomismw and renovalng properties. 15 InvoJ¢monls revaluatlon re68rva 2024 2Q23 At l January 2024 Arlsing on rev8luatiDn tho year At 31 Decemter 2024 219,032 19,115 199.762 19.270 238,147 219,032 2024 2023 At 1 January 2024 Trdnsf•rfrom in¢om? and expEnditure accxjunt Transtsrfrom land & buildlngs reserve Transfvrfrom extra4)rdinary repairs fund TraN8f8r to extr&ordinary paIrS fjjnd Trar6tsrto prop&ty development fund Realised gains on disposal of irwe5tment8 At 31 D9Mber2024 27.896 168,4681 19071 35,855 (7.0531 I6) 50,000 3,19) 17