Charity registration number: 233204
## Coxedd and Pearce and Kimbers Almhouses Charity
Annual Report and Financial Statements for the Year Ended 31 December 2022
UHY Ross Brooke Chartered Accountants 31a Charnham Street Hungerford Berkshire RG17 0EJ
## **Coxedd and Pearce and Kimbers Almhouses Charity**
## **Contents**
|Reference and Administrative Details|1|
|---|---|
|Trustees' Report|2 to 3|
|Statement of Trustees' Responsibilities|4|
|Independent Examiner's Report|5|
|Statement of Financial Activities|6|
|Balance Sheet|7|
|Notes to the Financial Statements|8 to 13|
## **Coxedd and Pearce and Kimbers Almhouses Charity**
## **Reference and Administrative Details**
**Trustees** Mr Peter Greenhalgh, Chairman Mrs Sally Miles Mrs Jill Wilson, Ex-officio member Mr Stuart Durrant Mrs Jennifer Evans Mr Anthony Hadwick **Charity Registration Number** 233204 **Principal Office** Round Oaks Enborne Row Wash Water Newbury Berkshire RG20 0LX
Page 1
## **Coxedd and Pearce and Kimbers Almhouses Charity**
## **Trustees' Report**
The trustees present the annual report together with the financial statements of the charity for the year ended 31 December 2022.
## **Objectives and activities**
## _**Objects and aims**_
The charitable objects are to provide almshouses for poor persons of good character who have resided in Newbury, West Berkshire for not less than two years next preceding the items of appointment.
## _**Objectives, strategies and activities**_
The Trustees have included the Almshouse properties within the accounts at their reinstatement value which in their opinion is a close approximation to market value.
## _**Public benefit**_
The objectives and activities described above detail the main activities undertaken to further the charity’s purposes for the public benefit.
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.
## **Achievements and performance**
The Trustees undertook significant refurbishment of two properties vacated in the year. In addition funds were allocated to improve security.
## **Financial review**
## _**Policy on reserves**_
The charity maintains the extraordinary repair fund for large one off expenses. The charity seeks to maintain significant funds to meet future expected costs.
## **Plans for future periods**
## _**Aims and key objectives for future periods**_
The trustees are working on a project to re-roof part of Kimber's Almshouses and install solar panels to reduce energy costs. The cost is estimated to be approximately £50,000 although firm quotations are yet to be received. It is intended to fund half of this project from the charity’s Emergency Repair Fund. The Trustees are currently applying for grants from various charities and other bodies to fund the balance. There were no definite capital commitments at the year end.
## **Structure, governance and management**
## _**Nature of governing document**_
The charity is controlled by its governing document, a deed of trust, and constitutes an unincorporated charity.
## _**Recruitment and appointment of trustees**_
The charity can have up to six Trustees, of which two are nominated by West Berkshire Council, three are co-opted and one is an ex-officio member of the church.
Page 2
## **Coxedd and Pearce and Kimbers Almhouses Charity**
## **Trustees' Report (continued)**
The annual report was approved by the trustees of the charity on .................... and signed on its behalf by:
......................................... Mr Peter Greenhalgh Trustee
Page 3
## **Coxedd and Pearce and Kimbers Almhouses Charity**
## **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;
- observe the methods and principles in the Charities SORP;
- make judgements and estimates that are reasonable and prudent;
- 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 Charities (Accounts and Reports) Regulations 2008, 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.
The trustees are responsible for the maintenance and integrity of the corporate and financial information included on the charitable company's website. Legislation governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.
Approved by the trustees of the charity on .................... and signed on its behalf by:
......................................... Mr Peter Greenhalgh Trustee
Page 4
## **Coxedd and Pearce and Kimbers Almhouses Charity**
## **Independent Examiner's Report to the trustees of Coxedd and Pearce and Kimbers Almhouses Charity**
I report to the trustees on my examination of the accounts of Coxedd and Pearce and Kimbers Almhouses Charity for the year ended 31 December 2022.
## **Responsibilities and basis of report**
As the charity trustees of Coxedd and Pearce and Kimbers Almhouses Charity 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 Coxedd and Pearce and Kimbers Almhouses Charity's accounts carried out under section 145 of the 2011 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 Coxedd and Pearce and Kimbers Almhouses 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 accounting 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.
...................................... Kerry Hawkins, UHY Ross Brooke Chartered Accountants
31a Charnham Street Hungerford Berkshire RG17 0EJ
Date:.............................
Page 5
## **Coxedd and Pearce and Kimbers Almhouses Charity**
## **Statement of Financial Activities for the Year Ended 31 December 2022**
|**Note**
**Income and Endowments from:**
Investment income
2
Other income
3
Total Income
**Expenditure on:**
Charitable activities
4
Total Expenditure
Gains/losses on investment assets
Net income
Net movement in funds
**Reconciliation of funds**
Total funds brought forward
Total funds carried forward
12
**Note**
**Income and Endowments from:**
Investment income
2
Other income
3
Total income
**Expenditure on:**
Charitable activities
4
Total expenditure
Gains/losses on investment assets
Net income
Net movement in funds
**Reconciliation of funds**
Total funds brought forward
Total funds carried forward
12|**Unrestricted**
**funds**
**£**
3,533
57,925
61,458
(54,646)
(54,646)
242,695
249,507
249,507
2,792,432
3,041,939
**Unrestricted**
**Funds**
**£**
3,332
55,852
59,184
(68,581)
(68,581)
89,676
80,279
80,279
2,712,153
2,792,432|**Total**
**2022**
**£**
3,533
57,925|
|---|---|---|
|||61,458|
|||(54,646)|
|||(54,646)|
|||242,695|
|||249,507|
|||249,507
2,792,432|
|||3,041,939|
|||**Total**
**2021**
**£**
3,332
55,852|
|||59,184|
|||(68,581)|
|||(68,581)|
|||89,676|
|||80,279|
|||80,279
2,712,153|
|||2,792,432|
All of the charity's activities derive from continuing operations during the above two periods.
The notes on pages 8 to 13 form an integral part of these financial statements. Page 6
## **Coxedd and Pearce and Kimbers Almhouses Charity**
## **(Registration number: 233204) Balance Sheet as at 31 December 2022**
|**Note**
**Fixed assets**
Tangible assets
7
Investments
8
**Current assets**
Debtors
9
Cash at bank and in hand
10
**Creditors: Amounts falling due within one year**
11
**Net current assets**
**Net assets**
**Funds of the charity:**
**Unrestricted income funds**
Unrestricted funds
**Total funds**
12|**2022**
**£**
2,896,374
131,214
3,027,588
1,756
14,686
16,442
(2,091)
14,351
3,041,939
3,041,939
3,041,939|**2021**
**£**
2,651,142
133,751|
|---|---|---|
|||2,784,893|
|||1,629
8,610|
|||10,239
(2,700)|
|||7,539|
|||2,792,432|
|||2,792,432|
|||2,792,432|
The financial statements on pages 6 to 13 were approved by the trustees, and authorised for issue on .................... and signed on their behalf by:
.........................................
Mr Peter Greenhalgh Trustee
The notes on pages 8 to 13 form an integral part of these financial statements. Page 7
## **Coxedd and Pearce and Kimbers Almhouses Charity**
## **Notes to the Financial Statements for the Year Ended 31 December 2022**
## **1 Accounting policies**
## **Statement of compliance**
The financial statements have been prepared in accordance with the second edition of the Charities Statement of Recommended Practice issued in October 2019, the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102) and the Charities Act 2011.
## **Basis of preparation**
Coxedd and Pearce and Kimbers Almhouses Charity meets the definition of a public benefit entity under FRS 102. The accounts (financial statements) have been prepared under the historical cost convention with items recognised at cost or transaction value unless otherwise stated in the relevant note(s) to these accounts.
## **Going concern**
The trustees consider that there are no material uncertainties about the charity's ability to continue as a going concern.
## **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.
## **Support costs**
Support costs include central functions and have been allocated to activity cost categories on a basis consistent with the use of resources, for example, allocating property costs by floor areas, or per capita, staff costs by the time spent and other costs by their usage.
## **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.
Page 8
## **Coxedd and Pearce and Kimbers Almhouses Charity**
## **Notes to the Financial Statements for the Year Ended 31 December 2022 (continued)**
## **Tangible fixed assets**
Tangible Assets comprise of Almhouses which had no cost but which were incorporated into the accounts some years ago at an estimated valuation. The value of these is adjusted periodically to the re-instatement value which is considered by the trustees to be a close approximation to fair value.
As these are included at fair value, no depreciation is charged.
## **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 discretion in furtherance of the objectives of the charity.
## **2 Investment income**
|Other income from fixed asset investments
**Total for 2022**
**Total for 2021**|**Unrestricted**
**funds**
**General**
**£**
3,533
3,533
3,332|**Total**
**funds**
**£**
3,533|
|---|---|---|
|||3,533|
|||3,332|
## **3 Other income**
|Rental income
**Total for 2022**
**Total for 2021**|**Unrestricted**
**funds**
**General**
**£**
57,925
57,925
55,852|**Total**
**funds**
**£**
57,925|
|---|---|---|
|||57,925|
|||55,852|
Page 9
## **Coxedd and Pearce and Kimbers Almhouses Charity**
## **Notes to the Financial Statements for the Year Ended 31 December 2022 (continued)**
## **4 Analysis of support costs**
## **Charitable activities expenditure**
|**Charitable activities expenditure**||||
|---|---|---|---|
|Clerk's salary
Rates and water
Light heat and power
Insurance
Heating oil
Emergency response system
Repairs and renewals
Telephone and postage
Subscriptions
Sundry expenses
Advertising
Accountancy
Bank interest payable|**Unrestricted**
**funds**
**General**
**£**
2,640
2,612
13,188
2,739
-
1,863
29,278
426
222
38
384
1,254
2
54,646|**Total**
**2022**
**£**
2,640
2,612
13,188
2,739
-
1,863
29,278
426
222
38
384
1,254
2
54,646|**Total**
**2021**
**£**
2,640
2,011
14,014
2,590
1,049
1,827
42,588
372
216
62
-
1,174
38|
||||68,581|
Page 10
## **Coxedd and Pearce and Kimbers Almhouses Charity**
## **Notes to the Financial Statements for the Year Ended 31 December 2022 (continued)**
## **5 Trustees remuneration and expenses**
No trustees, nor any persons connected with them, have received any remuneration from the charity during the year.
No trustees received any reimbursed expenses or any other benefits from the charity during the year to 31st December 2022, apart from P Greenhalgh who was reimbursed £299 for a router controlling a heating system, which needed to be purchased urgently.
Mr P Greenhalgh kindly advanced £7,000 to the charity during the year to 31st December 2021 to help with short term cash flow issues. This was repaid to Mr P Greenhalgh prior to 31st December 2021. Mr P Greenhalgh was also reimbursed for £254.42 of expenses relating to a router and insulation for the central heating system in the year ended 31st December 2021.
## **6 Taxation**
The charity is a registered charity and is therefore exempt from taxation.
## **7 Tangible fixed assets**
|**Cost**
At 1 January 2022
Revaluations
At 31 December 2022
**Depreciation**
At 31 December 2022
**Net book value**
At 31 December 2022
At 31 December 2021|**Land and**
**buildings**
**£**
2,651,142
245,232
2,896,374
-
2,896,374
2,651,142|**Total**
**£**
2,651,142
245,232|
|---|---|---|
|||2,896,374
-|
|||2,896,374|
|||2,651,142|
The Almshouses have been revalued to insurance re-instatement value as at June 2022. An independent valuation has not been carried out.
## **8 Fixed asset investments**
|Other investments|**2022**
**£**
131,214|**2021**
**£**
133,751|
|---|---|---|
Page 11
## **Coxedd and Pearce and Kimbers Almhouses Charity**
## **Notes to the Financial Statements for the Year Ended 31 December 2022 (continued)**
## **Other investments**
|**Cost or Valuation**
At 1 January 2022
Revaluation
At 31 December 2022
**Net book value**
At 31 December 2022
At 31 December 2021
**9**
**Debtors**
Other debtors
**10 Cash and cash equivalents**
Cash at bank
**11 Creditors: amounts falling due within one year**
Bank loans
Accruals||**Listed**
**investments**
**£**
133,751
(2,537)
131,214
131,214
133,751
**2022**
**£**
1,756
**2022**
**£**
14,686
**2022**
**£**
-
2,091
2,091|**Listed**
**investments**
**£**
133,751
(2,537)
131,214
131,214
133,751
**2022**
**£**
1,756
**2022**
**£**
14,686
**2022**
**£**
-
2,091
2,091|**Total**
**£**
133,751
(2,537)
131,214
131,214
133,751
**2021**
**£**
1,629|
|---|---|---|---|---|
|||131,214|||
|||131,214|||
|||133,751|||
|||**2022**
**£**
1,756
**2022**
**£**
14,686
**2022**
**£**
-
2,091
2,091|||
|||||**2021**
**£**
8,610|
|||||**2021**
**£**
967
1,733|
|||||2,700|
Page 12
## **Coxedd and Pearce and Kimbers Almhouses Charity**
## **Notes to the Financial Statements for the Year Ended 31 December 2022 (continued)**
## **12 Funds**
|**Unrestricted funds**
**_General_**
General Fund
Extraordinary Repair Fund
Other Reserves arising from
valuation of Tangible asset
**Unrestricted funds**
**_General_**
General Fund
Extraordinary Repair Fund
Other Reserves arising from
valuation of Tangible asset|**Balance at 1**
**January**
**2022**
**£**
99,563
41,727
2,651,142
2,792,432
**Balance at 1**
**January**
**2021**
**£**
101,358
36,870
2,573,925
2,712,153|**Incoming**
**resources**
**£**
61,458
-
-
61,458
**Incoming**
**resources**
**£**
59,184
-
-
59,184|**Resources**
**expended**
**£**
(54,646)
-
-
(54,646)
**Resources**
**expended**
**£**
(68,581)
-
-
(68,581)|**Other**
**recognised**
**gains/(losses)**
**£**
(2,867)
330
245,232
242,695
**Other**
**recognised**
**gains/(losses)**
**£**
7,602
4,857
77,217
89,676|**Balance at**
**31**
**December**
**2022**
**£**
103,508
42,057
2,896,374|
|---|---|---|---|---|---|
||||||3,041,939|
||||||**Balance at**
**31**
**December**
**2021**
**£**
99,563
41,727
2,651,142|
||||||2,792,432|
There are no restrictions on any of the funds.
Page 13