Charity registration number: 232743
Benenden Almshouse Charities
Annual Report and Financial Statements
for the Year Ended 31 December 2020
Benenden Almshouse Charities
Contents
| Reference and Administrative Details | 1 |
|---|---|
| Trustees' Report | 2 to 4 |
| Statement of Trustees' Responsibilities | 5 |
| Independent Auditors' Report | 6 to 8 |
| Statement of Financial Activities | 9 |
| Balance Sheet | 10 |
| Notes to the Financial Statements | 11 to 18 |
Benenden Almshouse Charities
Reference and Administrative Details
| Trustees who served in 2020 | Robin Dalton Holmes, Chairman |
|---|---|
| Janet Beattie | |
| John Burbage | |
| Revd. David James Commander | |
| Mary Cruse | |
| Blair Gulland | |
| Colin Hayman | |
| Arianwen Neve | |
| Other Officers | Deborah Jenkins, Clerk |
| Registered office | The Rectory |
| The Green | |
| Benenden | |
| Cranbrook | |
| Kent | |
| TN17 4DL | |
| Charity Registration Number | 232743 |
| Bankers | National Westminser Bank Plc |
| 58 High Street | |
| Tenterden | |
| Kent | |
| TN30 6AX | |
| Lloyds Bank | |
| Lewisham | |
| PO Box 1000 | |
| Andover | |
| BX1 1LT | |
| Auditor | Manningtons |
| 39 High Street | |
| Battle | |
| East Sussex | |
| TN33 0EE |
Page 1
Benenden Almshouse Charities
Trustees' Report
The trustees present the annual report together with the financial statements and auditors' report of the charity for the year ended 31 December 2020. The financial statements have been prepared in accordance with the accounting policies set out in the notes to the financial statements and comply with the Charity's trust deed and applicable law.
Constitution
The Charitable Trust was established by a Trust Deed dated 12 January 1960 in order to administer the charities known as ‘The Thorn House Charity’ and ‘The Feoffee Charity’. The management of the Trust is the responsibility of Trustees appointed for their relevant skills and approved by the Parish Council of Benenden together with an Ex-Officio Trustee being the Rector of Benenden.
Objectives and activities
The principal object of the Trust is the provision of accommodation in the form of Almshouses for poor persons resident in the parish of Benenden.
Review and Policy Objectives
Development Plan
Following the Benenden Village Plan published in February 2015, in late 2017 the Parish Council launched a participative exercise to develop a Neighbourhood Plan for the Parish.
In parallel Trustees reached agreement in principle for the use 1 hectare of its land adjacent to Rothermere Close as a site for a courtyard development of two 3 bedroom, six 2 bedroom and four 1 bedroom almshouse dwellings close to Walkhurst Road. Additionally, as a route towards funding the development, two 2 bedroom, nine 3 bedroom and two 4 bedroom properties for commercial development to provide funds for the core almshouse construction. Depending on the financial viability of the scheme the Trustees hope to retain two more properties from the commercial development to add to its stock of housing which would be managed under almshouse conventions for those with Benenden connections across the range of ages for those seeking low cost housing.
The Charity, TWBC and the Neighbourhood Plan Committee remain fully encouraged by the attraction of the Almshouse Sector being exempt from a Right to Buy entitlement, which system currently erodes the stock availability of Low Cost Housing as soon as purchasers place their properties on the open market.
The Neighbourhood Plan group is aware that almshouses cannot offer secure formal tenancies. In the course of their recommendation preparation 4 sites emerged as suitable for adding to an agreed new stock of relatively low cost housing that Tunbridge Wells Borough Council favoured. Only the Almhouses site was a greenfield site within the Area of Outstanding Natural Beauty but its proximity to the heart of the village facilities and the high proportion of low cost housing proposed together with a village charity having the responsibility to appoint residents gained widespread support. The planning application was submitted early 2020 but a number of statutory requirements had to be settled before TWBC Planning Committee were able to consider the case. A hybrid plan for 12 almshouses in detail and 13 commercial houses in principle was approved by TWBC on 9th September but consent could not be authorised before a Section 106 Agreement of 53 pages was agreed. This was signed off on 22nd March 2021 by the County Council, the Borough and Trustees. £125,000 index linked payments would be payable for the relocation of 3 local medical practices, local library facilities, local primary schools and contributions to sustainable transport arrangements and bus services. There were also some extended discussions about an extension of the Walkhurst Road footway and provisions for protection of wild life within the frontage of the charity's site.
Page 2
Benenden Almshouse Charities
Trustees' Report
As details were being refined it became more feasible to contemplate retention of Feoffee by converting the 6 flatlets into 4 cottages which existed in the late 1980's and a similar conversion of Thorn Cottage back to 2 cottages, as only one of our exisiting 9 almhouses has suitable capacity for married occupation.
It has emerged that there exists a firm prospect of obtaining a major grant of funds from Homes England which has appointed The Almhouses Consortium to process almhouses bids for the next round which covers 5 years starting imminently. As the Charity's detailed consent is already available it is hoped that an early bid can be processed swiftly. Mr Gulland has, as suggested, accepted and invitation to join the board of the Almhouse Consortium with the backing of Trustees.
There have been no occupational voids in 2020. There have been some more recent challenging circumstances relating to the ill health of a resident, which has necessitated close examination of interaction with social services and the ability of residents to satisfy the condition of being able to be self supporting, if aided by multiple daily social service visits.
The Charity has been free of Coronavirus difficulties. Most of the Trustees' meetings have been conducted via Zoom system. We are particularly grateful to our Clerk, Mrs Jenkins for her speedy adoption of a temporary alternative to conventional gatherings.
The charity is fortunate to have recruited trustees with a full range of appropriate skills with the one gap which is that of an accountant to fulfill the role of Finance Director to oversee accounting procedures, to examine financial targets and prepare long range cash flow projections.
Public benefit
In setting the charity’s objectives and planning its activities the Trustees have given consideration to the Charity Commission guidance on public benefit. Although it is recognised that the charity will be expected to redeploy the proceeds of sale in the furtherance of its scheme objective approaches to the Charity Commission have been delayed until the key planning consent has been received.
The trustees confirm that they have complied with the requirements of section 17 of the Charities Act 2011 to have due regard to the public benefit guidance published by the Charity Commission for England and Wales.
The trustees confirm that they have complied with the requirements of section 17 of the Charities Act 2011 to have due regard to the public benefit guidance published by the Charity Commission for England and Wales.
Structure, governance and management
Recruitment and appointment of trustees
A policy of recruiting potential trustees with a range of appropriate skills to meet the needs of managing the Trust effectively has been maintained but we are still seeking an Accountant to assume the role of Finance Director overseeing accounting procedures and examining financial targets, and preparing long range cash flow statements to test the economic viability of development plans.
Risk Management
The Trustees have a risk management strategy which comprises an ongoing review of the risks the charity may face; the establishment of systems and procedures to mitigate the identified risks; and the implementation of procedures designed to minimise any potential impact on the charity should those risks materialise.
Page 3
Benenden Almshouse Charities
Trustees' Report
Financial review
Policy on reserves
The Trustees have resolved that their ongoing reserves policy should be such that, aside from major capital development, reserves to the value of a minimum of 2 years maintenance contributions should be ring-fenced to provide for loss of income in the whole of one property plus the cost of refurbishing 2 vacant accommodation dwellings simultaneously.
At the year end reserves of £151,554.38 matched the objective of £100,000.
Clague's have been instructed as architects to prepare detailed drawings for the Walkhurst Road development and steps are being taken to recruit relevant professional help in anticipation of managing the contract tendering, pre-contract meetings and monitoring progress for onsite development in the spring of 2022.
Disclosure of information to auditor
Each trustee has taken steps that they ought to have taken as a trustee in order to make themselves aware of any relevant audit information and to establish that the charity's auditor is aware of that information. The trustees confirm that there is no relevant information that they know of and of which they know the auditor is unaware.
The annual report was approved by the trustees of the charity on .................... and signed on its behalf by:
......................................... Robin Dalton Holmes Trustee
Page 4
Benenden Almshouse Charities
Statement of Trustees' Responsibilities
The trustees are responsible for preparing the trustees' report and the financial statements in accordance with the United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice) and applicable law and regulations.
The law applicable to charities requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources of the charity for that period. In preparing these financial statements, the trustees are required to:
-
select suitable accounting policies and then apply them consistently;
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observe the methods and principles in the Charities SORP;
-
make judgements and estimates that are reasonable and prudent;
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state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements; and
-
prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in business.
The trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Charities Act 2011, the applicable Charities (Accounts and Reports) Regulations, and the provisions of the constitution. The trustees are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Approved by the trustees of the charity on .................... and signed on its behalf by:
......................................... Robin Dalton Holmes Trustee
Page 5
Benenden Almshouse Charities
Independent Auditor's Report to the Members of Benenden Almshouse Charities
Opinion
We have audited the financial statements of Benenden Almshouse Charities (the 'charity') for the year ended 31 December 2020, which comprise the Statement of Financial Activities, Balance Sheet, and Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is United Kingdom Accounting Standards, comprising Charities SORP - FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and applicable law (United Kingdom Generally Accepted Accounting Practice).
In our opinion the financial statements:
-
give a true and fair view of the state of the charity's affairs as at 31 December 2020 and of its incoming resources and application of resources, including its income and expenditure, for the year then ended;
-
have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
-
have been prepared in accordance with the requirements of the Charities Act 2011.
Basis for opinion
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor’s responsibilities for the audit of the financial statements section of our report. We are independent of the charity in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.
Conclusions relating to going concern
In auditing the financial statements, we have concluded that the trustees use of the going concern basis of accounting in the preparation of the financial statements is appropriate.
Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charity's ability to continue as a going concern for a period of at least twelve months from when the original financial statements were authorised for issue.
Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report.
Other information
The trustees are responsible for the other information. The other information comprises the information included in the annual report, other than the financial statements and our auditor’s report thereon. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.
In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the financial statements or a material misstatement of the other information. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.
We have nothing to report in this regard.
Page 6
Benenden Almshouse Charities
Independent Auditor's Report to the Members of Benenden Almshouse Charities
Matters on which we are required to report by exception
In the light of our knowledge and understanding of the charity and its environment obtained in the course of the audit, we have not identified material misstatements in the Trustees' Report.
We have nothing to report in respect of the following matters where the Charities Act 2011 requires us to report to you if, in our opinion:
-
adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or
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the financial statements are not in agreement with the accounting records and returns; or
-
certain disclosures of trustees remuneration specified by law are not made; or
-
we have not received all the information and explanations we require for our audit.
Responsibilities of trustees
As explained more fully in the Statement of Trustees' Responsibilities (set out on page 5), the trustees are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.
In preparing the financial statements, the trustees are responsible for assessing the charity's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charity or to cease operations, or have no realistic alternative but to do so.
Auditor’s responsibilities for the audit of the financial statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.
Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:
The legal and regulatory framework applicable to the entity was considered as part of the audit planning, a risk assessment was completed and no areas of concern were highlighted.
The audit team remained vigilant for potential fraud and non-compliance with laws and regulations throughout the whole audit process.
The susceptibility of the entity's financial statements to material misstatement, including how fraud might occur was built in to the audit planned approach using a range of techniques.
A further description of our responsibilities is available on the Financial Reporting Council’s website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor’s report.
A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor's report.
Page 7
Benenden Almshouse Charities
Independent Auditor's Report to the Members of Benenden Almshouse Charities
Use of our report
This report is made solely to the charity trustees, as a body, in accordance with section 144 of the Charities Act 2011 and regulations made under section 154 of that Act. Our work has been undertaken so that we might state to the trustees those matters we are required to state to trustees in an auditors' report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charity and its trustees as a body, for our audit work, for this report, or for the opinions we have formed.
...................................... Manningtons, Statutory Auditor
39 High Street Battle East Sussex TN33 0EE
Date:.............................
Manningtons is eligible for appointment as auditor of the charity by virtue of its eligibility for appointment as auditor of a company under section 1212 of the Companies Act 2006.
Page 8
Benenden Almshouse Charities
Statement of Financial Activities for the Year Ended 31 December 2020
| Note Income and Endowments from: Charitable activities 2 Investment income 3 Total Income Expenditure on: Charitable activities 4 Governance costs 5 Total Expenditure Gains/losses on investment assets Other recognised gains and losses Net movement in funds Reconciliation of funds Total funds brought forward Total funds carried forward 17 |
Unrestricted funds £ 43,692 111 43,803 (14,769) (1,585) (16,354) (974) 26,475 210,569 237,044 |
Restricted funds £ - - - (11,741) - (11,741) - (11,741) 5,633 (6,108) |
Total 2020 £ 43,692 111 43,803 (26,510) (1,585) (28,095) (974) 14,734 216,202 230,936 |
Total 2019 £ 40,034 50,107 |
|---|---|---|---|---|
| 90,141 | ||||
| (78,849) (1,644) |
||||
| (80,493) | ||||
| (32,210) | ||||
| (22,562) 238,765 |
||||
| 216,203 |
All of the charity's activities derive from continuing operations during the above two periods. The funds breakdown for 2019 is shown in note 17.
The notes on pages 11 to 18 form an integral part of these financial statements. Page 9
Benenden Almshouse Charities
(Registration number: 232743) Balance Sheet as at 31 December 2020
| Note Fixed assets Tangible assets 11 Investments 12 Current assets Debtors 13 Cash at bank and in hand 14 Creditors: Amounts falling due within one year 15 Net current assets Total assets less current liabilities Provisions 16 Net assets Funds of the charity: Restricted income funds Restricted funds Unrestricted income funds Unrestricted funds Total funds 17 |
2020 £ 95,292 84,785 180,077 1,844 61,164 63,008 (1,115) 61,893 241,970 (11,034) 230,936 (6,108) 237,044 230,936 |
2019 £ 97,413 85,760 |
|---|---|---|
| 183,173 | ||
| 1,726 43,453 |
||
| 45,179 (1,115) |
||
| 44,064 | ||
| 227,237 (11,034) |
||
| 216,203 | ||
| 5,633 210,570 |
||
| 216,203 |
The financial statements on pages 9 to 18 were approved by the trustees, and authorised for issue on .................... and signed on their behalf by:
......................................... Robin Dalton Holmes Trustee
The notes on pages 11 to 18 form an integral part of these financial statements. Page 10
Benenden Almshouse Charities
Notes to the Financial Statements for the Year Ended 31 December 2020
1 Accounting policies
Statement of compliance
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 2015) - (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Charities Act 2011.
Basis of preparation
Benenden Almshouse Charities meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy notes.
Going concern
The trustees consider that there are no material uncertainties about the charity's ability to continue as a going concern.
Income and endowments
Investment income
Investment income is recognised on a receivable basis.
Charitable activities
Income from charitable activities includes income recognised as earned (as the related goods or services are provided) under contract.
Expenditure
All expenditure is recognised once there is a legal or constructive obligation to that expenditure, it is probable settlement is required and the amount can be measured reliably. All costs are allocated to the applicable expenditure heading that aggregate similar costs to that category. Where costs cannot be directly attributed to particular headings they have been allocated on a basis consistent with the use of resources, with central staff costs allocated on the basis of time spent, and depreciation charges allocated on the portion of the asset’s use. Other support costs are allocated based on the spread of staff costs.
Charitable activities
Charitable expenditure comprises those costs incurred by the Charity in the delivery of its activities and services for its beneficiaries. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them.
Governance costs
Governance costs include costs of the preparation and examination of the statutory accounts, the costs of trustee meetings and the cost of any legal advice to trustees on governance or constitutional matters.
Page 11
Benenden Almshouse Charities
Notes to the Financial Statements for the Year Ended 31 December 2020
Taxation
The charity is considered to pass the tests set out in Paragraph 1 Schedule 6 of the Finance Act 2010 and therefore it meets the definition of a charitable company for UK corporation tax purposes. Accordingly, the charity is potentially exempt from taxation in respect of income or capital gains received within categories covered by Chapter 3 Part 11 of the Corporation Tax Act 2010 or Section 256 of the Taxation of Chargeable Gains Act 1992, to the extent that such income or gains are applied exclusively to charitable purposes.
Tangible fixed assets
Individual fixed assets costing £1 or more are initially recorded at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
Depreciation and amortisation
Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows:
Asset class Depreciation method and rate Freehold interest in land and buildings 2% Reducing Balance Improvements and equipment Straight line over 50 years
Fixed asset investments
Fixed asset investments, other than programme related investments, are included at market value at the balance sheet date. Realised gains and losses on investments are calculated as the difference between sales proceeds and their market value at the start of the year, or their subsequent cost, and are charged or credited to the Statement of Financial Activities in the period of disposal.
Unrealised gains and losses represent the movement in market values during the year and are credited or charged to the Statement of Financial Activities based on the market value at the year end.
Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.
Fund structure
Unrestricted income funds are general funds that are available for use at the trustees's discretion in furtherance of the objectives of the charity.
Restricted income funds are those donated for use in a particular area or for specific purposes, the use of which is restricted to that area or purpose.
Page 12
Benenden Almshouse Charities
Notes to the Financial Statements for the Year Ended 31 December 2020
2 Income from charitable activities
| Operation of Almshouses Rent receivable 3 Investment income Interest receivable and similar income; Interest receivable on bank deposits Other income from fixed asset investments Total for 2020 Total for 2019 |
Unrestricted funds General £ 43,692 Unrestricted funds General £ 10 101 111 107 |
Total 2020 £ 43,692 Restricted funds £ - - - 50,000 |
Total 2019 £ 40,034 |
|---|---|---|---|
| Total funds £ 10 101 |
|||
| 111 | |||
| 50,107 |
Page 13
Benenden Almshouse Charities
Notes to the Financial Statements for the Year Ended 31 December 2020
4 Expenditure on charitable activities
| Operation of Almshouses Employment costs Other direct costs including legal and professional Establishment costs Repairs and maintenance Re-development project Depreciation of tangible fixed assets |
Unrestricted funds General £ 2,686 1,440 3,131 5,391 - 2,121 14,769 |
Restricted funds £ - - - - 11,741 - 11,741 |
Total 2020 £ 2,686 1,440 3,131 5,391 11,741 2,121 26,510 |
Total 2019 £ 3,253 2,276 3,919 6,146 61,124 2,132 |
|---|---|---|---|---|
| 78,850 |
5 Analysis of governance and support costs
Governance costs
| Audit fees Audit of the financial statements Allocated support costs Total for 2020 Total for 2019 6 Net incoming/outgoing resources Net incoming resources for the year is stated after charging: Depreciation of fixed assets |
Unrestricted funds General £ 1,050 535 1,585 1,644 2020 £ 2,121 |
Total funds £ 1,050 535 |
|---|---|---|
| 1,585 | ||
| 1,644 | ||
| 2019 £ 2,132 |
7 Trustees remuneration and expenses
No trustees, nor any persons connected with them, have received any remuneration from the charity during the year.
No trustees have received any reimbursed expenses or any other benefits from the charity during the year.
Page 14
Benenden Almshouse Charities
Notes to the Financial Statements for the Year Ended 31 December 2020
8 Staff costs
The aggregate payroll costs were as follows:
| 2020 £ Staff costs during the year were: Wages and salaries 2,686 No employee received emoluments of more than £60,000 during the year (2019 - £nil). 9 Auditors' remuneration 2020 £ Audit of the financial statements 1,050 |
2019 £ 3,253 |
|---|---|
| 2019 £ 1,080 |
10 Taxation
No tax was charged in the year (2019 - £nil).
11 Tangible fixed assets
| 11 Tangible fixed assets | ||
|---|---|---|
| Cost At 1 January 2020 At 31 December 2020 Depreciation At 1 January 2020 Charge for the year At 31 December 2020 Net book value At 31 December 2020 At 31 December 2019 |
Land and buildings £ 136,419 136,419 39,006 2,121 41,127 95,292 97,413 |
Total £ 136,419 |
| 136,419 | ||
| 39,006 2,121 |
||
| 41,127 | ||
| 95,292 | ||
| 97,413 |
Page 15
Benenden Almshouse Charities
Notes to the Financial Statements for the Year Ended 31 December 2020
12 Fixed asset investments
| 12 Fixed asset investments | ||||
|---|---|---|---|---|
| Other listed investments Other investments Cost or Valuation At 1 January 2020 Revaluation At 31 December 2020 Net book value At 31 December 2020 At 31 December 2019 |
2020 £ 84,785 Listed investments £ 85,759 (974) 84,785 84,785 85,759 |
2019 £ 85,760 |
||
| Total £ 85,759 (974) 84,785 84,785 85,759 |
The historical cost of listed investments at 31 December 2020 was £28,674 (2019 - £28,674).
13 Debtors
| Trade debtors Prepayments 14 Cash and cash equivalents Cash at bank 15 Creditors: amounts falling due within one year Accruals |
2020 £ 359 1,485 1,844 2020 £ 61,164 2020 £ 1,115 |
2019 £ 193 1,533 |
|---|---|---|
| 1,726 | ||
| 2019 £ 43,453 |
||
| 2019 £ 1,115 |
Page 16
Benenden Almshouse Charities
Notes to the Financial Statements for the Year Ended 31 December 2020
16 Provisions
At 1 January 2020
| Other | |
|---|---|
| provision | Total |
| £ | £ |
| 11,034 | 11,034 |
Provision for future cyclical repairs and maintenance is based on external decoration taking place every three years and internal repairs every five years or on the vacation of a property.
17 Funds
| Unrestricted funds General General Funds Restricted funds Re-development Total funds Unrestricted funds General General Funds Restricted Re-development Total funds |
Balance at 1 January 2020 £ 210,569 5,633 216,202 Balance at 1 January 2019 £ 222,008 16,757 238,765 |
Incoming resources £ 43,803 - 43,803 Incoming resources £ 40,141 50,000 90,141 |
Resources expended £ (16,354) (11,741) (28,095) Resources expended £ (19,370) (61,124) (80,494) |
Other recognised gains/(losses) £ (974) - (974) Other recognised gains/(losses) £ (32,210) - (32,210) |
Balance at 31 December 2020 £ 237,044 (6,108) |
|---|---|---|---|---|---|
| 230,936 | |||||
| Balance at 31 December 2019 £ 210,569 5,633 |
|||||
| 216,202 |
Page 17
Benenden Almshouse Charities
Notes to the Financial Statements for the Year Ended 31 December 2020
18 Analysis of net assets between funds
| Tangible fixed assets Fixed asset investments Current assets Current liabilities Provisions Total net assets Tangible fixed assets Fixed asset investments Current assets Current liabilities Provisions Total net assets |
Unrestricted funds General £ 95,292 84,785 69,116 (1,115) (11,034) 237,044 Unrestricted funds General £ 97,413 85,759 39,546 (1,115) (11,034) 210,569 |
Restricted funds £ - - (6,108) - - (6,108) Restricted funds £ - - 5,633 - - 5,633 |
Total funds at 31 December 2020 £ 95,292 84,785 63,008 (1,115) (11,034) |
|---|---|---|---|
| 230,936 | |||
| Total funds at 31 December 2019 £ 97,413 85,759 45,179 (1,115) (11,034) |
|||
| 216,202 |
Page 18