**Charity registration number 233957**
## **J & E GUNSON ALMSHOUSE TRUST**
**ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022**
## **J & E GUNSON ALMSHOUSE TRUST**
## **LEGAL AND ADMINISTRATIVE INFORMATION**
## **Trustees**
Mr J Hutton Mr A Catling Mr G Brockbank Mrs S Hackett Mr N Taylor Dr C Caulcott (Appointed 6 April 2022) Mr C Edmondson (Appointed 6 April 2022) Mr I Kershaw (Appointed 22 December 2022)
**Treasurer** Mrs L Berry **Charity number** 233957 **Principal address** 1 The Crook Ulpha Broughton in Furness Cumbria LA20 6DZ **Independent examiner** JL Winder & Co Suite 6 Furness Gate Peter Green Way Barrow in Furness Cumbria LA14 2PE
## **J & E GUNSON ALMSHOUSE TRUST**
## **CONTENTS**
||**Page**|
|---|---|
|Trustees report|1 - 2|
|Statement of Trustees responsibilities|3|
|Accountants' report|4|
|Statement of financial activities|5|
|Balance sheet|6|
|Notes to the financial statements|7 - 13|
## **J & E GUNSON ALMSHOUSE TRUST**
## **TRUSTEES REPORT**
## _**FOR THE YEAR ENDED 31 DECEMBER 2022**_
The Trustees present their report and accounts for the year ended 31 December 2022.
The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements 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 (FRS 102)" (effective 1 January 2019).
## **Objectives and activities**
The charity's objects are preserving and running the ten almshouses situated in Ulpha, Cumbria for the benefit of the almspeople, with preference given to those born in the parish of Ulpha, or who have lived in the area for more than five years, especially having been employed in agriculture.
The Trustees have paid due regard to guidance on public benefit issued by the Charity Commission in deciding what activities the charity should undertake.
## **Achievements and performance**
## **Financial review**
During the year maintenance contributions totalled £36,269 (2021- £38,418), while other income in the year amounted to £3,294 (2021- £1,972)
Operating costs were £8,693 (2021-£5,460) routine maintenance £1,539 (2021- £1,723) cyclical maintenance £3,756 (2021- £4,453) extraordinary maintenance £121,926 (2021- £11,749) and depreciation £511 (2021- £511)
The total income for the charity was £39,563 (2021- £40,390) and total expenditure was £136,425 (2021£23,896)
This resulted in a deficit of £96,862 (2021- surplus of £16,494) before the reported deficit of investments of £8,807 (2021- surplus of £9,448)
A transfer from unrestricted funds to designated funds of £50,281 was made in the year
At the year end the charity's reserves totalled £199,397 (2021-£305,066) Of this total £72,451 (2021- £122,732) are designated funds
## **Reserves Policy**
The trustees aim to keep the designated reserves at a level sufficient to cover any future repairs and maintenance required to the properties.
## **Land and buildings**
The trustees believe that the market value of the land and buildings owned by the charity at Ulpha is significantly in excess of the historical cost in the accounts.
The Trustees have assessed the major risks to which the charity is exposed, and are satisfied that systems are in place to mitigate exposure to the major risks.
- 1 -
## **J & E GUNSON ALMSHOUSE TRUST**
## **TRUSTEES REPORT (CONTINUED)** _**FOR THE YEAR ENDED 31 DECEMBER 2022**_
## **Structure, governance and management**
The charity was founded under the will, dated 25th June 1907, of John Gunson, who died on 28th March 1912. The Almshouse is a charity administered and managed in conformity with a scheme sealed by the Charity Commissioners on 30th June 1978.
The Trustees who served during the year and up to the date of signature of the financial statements were: Mr J Hutton Mr A Catling Mr G Brockbank Mrs S Hackett Mr N Taylor Ms J Sayers (Retired 6 April 2022) Rev S Tudway (Resigned 22 December 2022) Dr C Caulcott (Appointed 6 April 2022) Mr C Edmondson (Appointed 6 April 2022) Mr I Kershaw (Appointed 22 December 2022)
When a vacancy arises, suggestions for new trustees are brought forward before the trustees at the next meeting, and if found to be suitable, the candidate is approached. Once they have agreed the trustees will then vote on the appointment. Induction to the trust is on an ad hoc basis, and generally experience is gained by attending the quarterly trustees meetings although the trustees are supplied with the relevant charity commission publications.
The Trustees report was approved by the Board of Trustees.
..............................
## **Mr J Hutton**
Trustee Dated: .........................
- 2 -
## **J & E GUNSON ALMSHOUSE TRUST**
## **STATEMENT OF TRUSTEES RESPONSIBILITIES**
## _**FOR THE YEAR ENDED 31 DECEMBER 2022**_
The Board is responsible for preparing the report and financial statements in accordance with applicable law and regulations.
Registered social housing legislation require the Board to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the association and of the income and expenditure of the association for that period. In preparing these financial statements, the Board is required to:
- i. select suitable accounting policies and then apply them consistently;
- ii. make judgements and estimates that are reasonable and prudent;
- iii. state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements; and
- iv. prepare the financial statements on the going concern basis unless it is inappropriate to presume that the association will continue in business.
The Board is responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the association and to enable it to ensure that the financial statements comply with the relevant legislation. It has general responsibility for taking reasonable steps to safeguard the assets of the club and to prevent and detect fraud and other irregularities.
- 3 -
## **J & E GUNSON ALMSHOUSE TRUST**
## **CHARTERED ACCOUNTANTS' REPORT TO THE TRUSTEES ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF J & E GUNSON ALMSHOUSE TRUST FOR THE YEAR ENDED 31 DECEMBER 2022**
We report on the accounts for the year ended 31st December 2022
## **Respective responsibilties of the board and the independent reporting accountant**
The Board of the Registered Social Housing Provider is responsible for the preparation of the accounts, and they consider that the Registered Social Housing Provider is exempt from an audit. It is our responsibility to carry out procedures designed to enable us to report our opinion
## **Basis of opinion**
Our procedures consisted of comparing the accounts with the books of account kept by the Registered Social Housing Provider and making such limited enquiries of the officers of the Registered Social Housing Provider as we considered necessary for the purpose of this report. These procedures provide the only assurance expressed in our opinion.
## **Opinion**
In our opinion:-
- the accounts for the year ended 31 December 2022 are in accordance with the accounting records kept by the Registered Social Housing Provider under paragraph 135(2)(a) of the Housing and Regeneration Act 2008.
- having regard only to, and on the basis of, the information contained in the accounting records:
- the accounts comply with the requirements of the Charities Act 2011;
- the Registered Social Housing Provider has satisfied the condition for exemption from an audit of the accounts for the year ended 31 December 2022 specified in section 136(6) of the Housing and Regeneration Act 2008;
- the accounts comply with the requirements of the Housing Regeneration Act 2008 and the Accounting Direction for private registered providers of social housing in England
## **JL Winder & Co**
## **Chartered Accountants**
**27th March 2023**
Suite 6 Furness Gate Peter Green Way Barrow in Furness Cumbria LA14 2PE
- 4 -
## **J & E GUNSON ALMSHOUSE TRUST**
## **STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT** _**FOR THE YEAR ENDED 31 DECEMBER 2022**_
|**Unrestricted**
**Designated**
**Total**
**funds**
**funds**
**2022**
**2022**
**2022**
**Notes**
**£**
**£**
**£**
**Income from:**
Income
**2**
39,563
-
39,563
**Expenditure on:**
Charitable activities
**3**
136,425
-
136,425
Net gains/(losses) on investments
**6**
(8,807)
-
(8,807)
**Net (outgoing)/incoming resources before**
**transfers**
(105,669)
-
(105,669)
Gross transfers between funds
50,281
(50,281)
-
**Net movement in funds**
(55,388)
(50,281)
(105,669)
Fund balances at 1 January 2022
182,334
122,732
305,066
**Fund balances at 31 December 2022**
126,946
72,451
199,397|Total
2021
**£**
40,390|
|---|---|
||23,896|
||9,448|
||25,942
-|
||25,942
279,123|
||305,065|
The statement of financial activities includes all gains and losses recognised in the year.
All income and expenditure derive from continuing activities.
- 5 -
## **J & E GUNSON ALMSHOUSE TRUST**
## **BALANCE SHEET**
## _**AS AT 31 DECEMBER 2022**_
|**2022**
**Notes**
**£**
**Fixed assets**
Tangible assets
**7**
Investments
**8**
**Current assets**
Debtors
**9**
1,107
Investments
120,773
Cash at bank and in hand
22,562
144,442
**Creditors: amounts falling due within**
**one year**
**10**
(1,720)
Net current assets
**Total assets less current liabilities**
**Income funds**
Unrestricted funds
Designated funds
**11**
72,451
General unrestricted funds
126,946
The financial statements were approved by the Trustees on .........................
..............................
..............................
Mr J Hutton
Mrs S Hackett
**Trustee**
**Trustee**|**£**
5,186
51,489
56,675
142,722
199,397
199,397|**2021**
**£**
1,404
181,655
37,347
220,406
(2,159)
122,731
182,334|**£**
5,697
81,121|
|---|---|---|---|
||||86,818
218,247|
||||305,065|
|||||
||||305,065|
|||||
- 6 -
## **J & E GUNSON ALMSHOUSE TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS** _**FOR THE YEAR ENDED 31 DECEMBER 2022**_
## **1 Accounting policies**
## **Charity information**
J & E Gunson Almshouse Trust is a registered charity and registered provider of social housing in the United Kingdom. The address for the registered office is given on the first page of these financial statements. Joseph and Eleanor Gunson Almshouse Trust constitutes a public entity as defined by FRS 102.
## **1.1 Accounting convention**
The financial statements have been prepared in accordance with applicable accounting standards including Financial Reporting Standard 102 The Financial Reporting Standard Applicable in the UK and Republic of Ireland (FRS 102), the Statement of Recommended Practice for Social Housing Providers 2018, and with the Accounting Direction for private registered providers of social housing in England 2019. The financial statements are also prepared under the requirements of the Housing and Regeneration Act 2008
The financial statements are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
## **1.2 Going concern**
At the time of approving the financial statements, the Trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus the Trustees continue to adopt the going concern basis of accounting in preparing the financial statements.
## **1.3 Charitable funds**
Unrestricted funds are available for use at the discretion of the Trustees in furtherance of their charitable objectives.
## **1.4 Incoming resources**
Turnover represents maintenance contributions receivable, revenue grants from local authorities and national charitable trusts and fundraising income.
## **1.5 Tangible fixed assets**
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
|Housing Properties|1% straight line|
|---|---|
|Freehold Land|no depreciation|
|Car Park|4% straight line|
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in the statement of financial activities.
Housing land and buildings are stated at cost. There are ten dwellings all of which were built before 1918. No depreciation is made in respect of land. The land and buildings are used for the purposes of the charity and form part of its permanent endowment.
## **1.6 Fixed asset investments**
Investments are stated at market value. The unrealised gains or losses arising from these are allocated to the relevant reserve appointed on the number of units held on each reserve.
- 7 -
## **J & E GUNSON ALMSHOUSE TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 DECEMBER 2022**_
## **1 Accounting policies**
## **(Continued)**
## **1.7 Repairs and maintenance**
Costs are charged to the income and expenditure account in the year in which they are incurred.
## **1.8 Designated reserves**
## 1) Cyclical repairs and maintenance reserve
## 2) Extraordinary repair reserve
## 3) Routine maintenance reserve
The charity has established the above three reserves. The following annual transfers from revenue are recommended by the Almshouse Association.
1) £898 per unit per annum
2) £549 per unit per annum
3) £620 per unit per annum.
## **2 Income**
|**Unrestricted**
**funds**
**2022**
**£**
Maintenance contributions
36,269
Income from listed investments
3,293
Interest receivable
1
39,563|**Total**
**2021**
**£**
38,418
1,972
-|
|---|---|
||40,390|
- 8 -
## **J & E GUNSON ALMSHOUSE TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 DECEMBER 2022**_
## **3 Charitable activities**
|Depreciation and impairment
Rates
Insurance
Light and heat
Routine repairs
Cyclical repairs
Extraordinary repairs
Honoraria
Sundry expenses
Subscriptions
Accountancy fees|**Total**
**2022**
**£**
511
3,543
1,478
770
1,539
3,756
121,926
750
105
487
1,560
136,425
136,425|**Total**
**2021**
**£**
511
1,448
1,495
188
1,723
4,453
11,749
250
97
482
1,500|
|---|---|---|
|||23,896|
|||23,896|
## **4 Trustees**
None of the Trustees (or any persons connected with them) received any remuneration during the year.
## **5 Employees**
The average monthly number of employees during the year was:
||**2022**|**2021**|
|---|---|---|
||**Number**|**Number**|
|Total|-|-|
There were no employees whose annual remuneration was more than £60,000.
- 9 -
## **J & E GUNSON ALMSHOUSE TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 DECEMBER 2022**_
## **6 Net gains/(losses) on investments**
|||||**Unrestricted Unrestricted**|**Unrestricted Unrestricted**|
|---|---|---|---|---|---|
|||||**funds**|**funds**|
|||||**2022**|**2021**|
|||||**£**|**£**|
||Gain/(loss) on sale of investments|||(8,807)|9,448|
|**7**|**Tangible fixed assets**|||||
|||**Housing**|
**Freehold Land**|**Car Park**|**Total**|
|||**Properties**||||
|||**£**|**£**|**£**|**£**|
||**Cost**|||||
||At 1 January 2022|1,651|60|12,790|14,501|
||At 31 December 2022|1,651|60|12,790|14,501|
||**Depreciation and impairment**|||||
||At 1 January 2022|1,650|-|7,154|8,804|
||Depreciation charged in the year|-|-|511|511|
||At 31 December 2022|1,650|-|7,665|9,315|
||**Carrying amount**|||||
||At 31 December 2022|1|60|5,125|5,186|
||At 31 December 2021|1|60|5,636|5,697|
- 10 -
**J & E GUNSON ALMSHOUSE TRUST**
**NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 DECEMBER 2022**_
## **9 Fixed asset investments**
|**No of income units**||**Income units **|**Deposit fund**|**Deposit fund**|**Total**|
|---|---|---|---|---|---|
|||**£**|**£**||**£**|
|1,427.38|Cyclical maintenance fund|25,905||8,639|34,544|
|537.72|Extra-ordinary repair fund|9,758||(9,758)|-|
|255.38|Routine maintenance|4,636||33,271|37,907|
|260.75|Current asset (part of accumulated surplus)|4,732||43,589|48,321|
|2,481.23||45,031||75,741|120,772|
|1,207.66|Permanent endowment (capital) fund|21,919||29,570|51,489|
|3,688.89||66,950|105,311||172,261|
The COIF income units are at market value, their cost was £26,000
|**9**
**Debtors**
**Amounts falling due within one year:**
Trade debtors
Prepayments and accrued income
**10**
**Creditors: amounts falling due within one year**
Accruals and deferred income|**2022**
**£**
20
1,087
1,107
**2022**
**£**
1,720|**2021**
**£**
13
1,391|
|---|---|---|
|||1,404|
|||**2021**
**£**
2,159|
- 11 -
## **J & E GUNSON ALMSHOUSE TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 DECEMBER 2022**_
## **11 Designated funds**
The income funds of the charity include the following designated funds which have been set aside out of unrestricted funds by the trustees for specific purposes:
|**Balance at**
**1 January**
**2022**
**Investment**
**income and**
**surplus less**
**drawn**
**£**
**£**
Cyclical maintenance fund
64,344
(2,134)
Extraordinary repair fund
18,876
(804)
Routine maintenance fund
39,513
(382)
122,733
(3,320)|**Annual**
**transfer**
**from**
**general**
**fund**
**Transfer to**
**general fund**
**Transfer from**
**current**
**account**
**Balance at**
**31**
**December**
**2022**
**£**
**£**
**£**
**£**
8,980
(3,756)
(32,890)
34,544
5,490
(11,172)
(12,390)
-
6,200
(1,539)
(5,885)
37,907
20,670
(16,467)
(51,165)
72,451|**Annual**
**transfer**
**from**
**general**
**fund**
**Transfer to**
**general fund**
**Transfer from**
**current**
**account**
**Balance at**
**31**
**December**
**2022**
**£**
**£**
**£**
**£**
8,980
(3,756)
(32,890)
34,544
5,490
(11,172)
(12,390)
-
6,200
(1,539)
(5,885)
37,907
20,670
(16,467)
(51,165)
72,451|
|---|---|---|
|||72,451|
- 12 -
## **J & E GUNSON ALMSHOUSE TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 DECEMBER 2022**_
## **12 Analysis of net assets between funds**
|**Designated**
**reserves**
**Capital and**
**accumalated**
**surplus**
**2022**
**2022**
**£**
**£**
Fund balances at 31 December 2022 are
represented by:
Tangible assets
-
5,186
Endowment
-
51,489
Investments
72,451
48,322
Current assets
-
1,107
Cash at bank
-
22,562
Creditors
-
(1,720)
72,451
126,946|**Total**
**2022**
**£**
5,186
51,489
120,773
1,107
22,562
(1,720)
199,397|**Total**
**2021**
£
5,697
81,121
181,655
1,404
37,347
(2,159)
305,065|
|---|---|---|
## **13 Related party transactions**
There were no disclosable related party transactions during the year (2021 - none).
- 13 -