Charlty registratlon number 233957 (England and Wa5è91 J & E GUNSON ALMSHOUSE TRUST ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024
J & E GUNSON ALMSHOUSE TRUST LEGAL AND ADMINISTRATIVE INFORMATION TrusteBs Mr J Hullon MrA Callinu Mr$ S Hackell Mr N Taylor Mr C Edmond50n Mr l Kershaw Revv A Sekasi IAppoinleLI 18 January 20241 Clerk J Kumarendran Treasurer Ms E Hewerdine Charlly rEumber 233957 Principal address Th& Low Wood Bam Ulpha Cumbria LA20 6DZ Independent examlner JL Winder & Co Suite 6 Fumess Gale Peter Green Way Barrow in Furness Cumbria LA14 2PE
J & E GUNSON ALMSHOUSE TRUST CONTENTS Page Trustees report Slatemenl of Trusteés re$pLTrnslbilllies Independent examlner's raport Statement of financlal activities Balance sheet Notes to the finan¢lal staloments 7-13
J & E GUNSON ALMSHOUSE TRUST TRUSTEES REPORT FOR THE YEAR ENDED 31 DECEMBER 2024 The Trustees pr&sent Ihelr report and accounts for th& year ended 31 December 2024. The financlal statements have been prepared In accordance with the accounting policies set out in note 1 to the nancial slalemenls and comply with tha charivs govèming do¢umenl, the Charities Act 2011, FRS 102 The Financial Reporting Standard applicabla in the UK and Republic of Ireland" and the Charities SORP"Accounling and Reporting by Charities.. Slalemenl of Recornmended Practice appll¢able l() ¢haritie8 prepaiing their accounts in accordan with the Financial Reporting Standard appllcable in the UK and Republic of Ireland IFRS 1021" Objectlves and activities The charity's objects are pres6Ning and running the len almshouses situated In Ulpha, Cumbria for the benefit of the almspeople, with prefeience given lo those born in the parlsh of Ulpha. or who have llv in the area for more than five years, especially having beèn Èmployed in agriculture. The Trustees have paid due r8ga¥O lo guldance on public benelt issued by the Charity Cornmission in decldlng what activities the charity should undertake. Achlevements and rf0Ml8nee Flnanclal revl&w During the year maintenance contributions totalled £48,260 {2D23- £42,797), whlle olher income In the year am()unted lo £8,62412023- £6,669) Operalbng costs were £8.754 {2023-£8,6191 routine malnlenance £5,235 12023- £1,607) cyclical maintenance £14,01612023- £3,256) extraordinary maintenancè £41,11512023- £42.6361 and depftciation £511 12023- £5111 Thè total Income for the charity was £54,88412023- £49,466) and lolal expÈnd5tLJre w8s £69.631 12023-£56,6291 This resulted in a deficlt of £14.74712023- £7,163? before the reportgd surplu8 of investm6nt8 of £1.6541202& £6,255) A transfer frun unrestricted funds to designated funds of £11,514 was made in the year Al the year end the charity's re8ervos lotalled £185,395 {2023-£198.4881 Of this lolal £61,gS612023- £73,480) arp designated funds Reserves Pollcy The Iruslees aim to keBp the designated resewves al a lev61 sufficlenl to cover any future repairs and maintenan¢e required to the propertiès. Land and bulldings The Iruslees belleve that the markÉt value of the land and bulldlngs owned by the charity al Ulph8 FS significanlty in excess of the historical $t in the accounts. The Trustees have assessed the major risks to which the chaTity is exposed, and ale 8a118fied that systems are in place lo mlbgale exposure lo th6 major risks.
J & E GUNSON ALMSHOUSE TRUST TRUSTEES REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 structure. governance and management The ¢harily was founded under the wlll, dated 25th June 1907. of John Gunson, who died on 28th March 1912. TheAlmshouse is 8 ¢harily adminislered and managed in conformlty with a scheme sealed by the Charlty Commissioners on 30th June 1978. The Truslo¢s who served during the year and Ltp to the dale of 8ignalure of the financial statements were.. Mr J Hullon MrA Calllng Mr G Brockbank Mrs S Haekètt MF N Taylor Mr C Edmondson Mr l Ker8haw Rev VA Sekasl (Resigned 28 January 20251 {Appoinled 16 January 20241 When a vacancy artses. 8uggeslions for new trustees ale brought forward before the trustees al the next meeting, and if fDund to be suitable. the candidate Is approached. On¢e Ihey have agwed the Iruslees will then vole on the appoinlmenl. Induction to tho trust is on an ad hoG basls, and gonerally expeiience Is gained by allending the quarterly trustees meetings although thè tsustees are supplied with the relevant charity commlssion publicallons. The Trustees report was approved by the Board of Trustees. MrJ Hutton Trustee Dated.. 25 March 2025
J & E GUNSON ALMSHOUSE TRUST STATEMENT OF TRUSTEES RESPONSIBILITIES FOR THE YEAR ENDED 31 DECEMBER 2024 The Board is responslble for preparing the report and financial slalements In accordance with app15¢able law and regulations. Registered $o¢ial housing legislation Tequir8 the Board to prepare financial slatemènls for each fjnancial year which gEve g true and fair view of the slato of affairs of the associatlon and of the income and expenditure of the association for that pBriod. In preparing these financial slalemenls, the Board is required lo.. i. select 5uilable a¢wunling policies and then apply them con81sleny', ii. make Juements and estimates that are reasonable and prudent- iii. sla18 wh&lher applicable accounting standards have be8n followed, subject to any maleTial departures disdosed and explained in thè finan¢i81 statèments., and iv. prepare thè financial statements on the going concem basis unless Il Is Inappropriat¢ to presume that the association will continue in busirkess. The Board is responslblts for keep1ng proper accouniing records which disclose with reasonable accuracy 8t any me the financial position of the association and lo enable il to ensure that the finaneial slatamenls comply with the relevant legislation. 11 has general responsibility for taking reasonab5e steps lo safeguard the assets of thè club and trj prevent and detect fraud and other iiregulaiilies. The law applicable lo charities in England and Wales requires the Trustees lo prepare financial statements for each rEnancial year wh1ch give a true and fair view of the state of affairs of the charity and of the In¢omlng resour¢es and application of re80urces of the charily foT that ygar. In preparing thesè nancIal statements, the Trustees ar& required to- select suitable accounting policies and then appw them consi8tenlly', observe the methods and principles in the Charities SORP., make judgements and eslimales that are reasonable and prudent., slate wheth6r applicable accounting standards have be6n followed, subject to any malerial departures disclosed and explainèd in thè financial statamènts., and prepare the financial slalemenls on the goong concem basis unless il is Inappropriate to presume that the charity will continue in operation. The Trustees are responsible for keeping sufficient accounting records that disclose with reasonable accuracy at any lime the financial position of the charity and enable thèm to ensure that the financial stalèments comply with the Chartlles Act 2011, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the trust deed. They are also responsible for safeguarding the assets of the charity and hence for taking reason8bla steps for the prevention and detection of fraud and other irregtJlaritiÈs_
J & E GUNSON ALMSHOUSE TRUST INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF J & E GUNSON ALMSHOUSE TRUST I report to the Trustees on my examination of the financial slalements of J & E Gunson Almshouse Trust Ilhe charity} for the year ended 31 December 2024. Responsibilltles and basls of report As the Trustee5 01 the charity you are responslble for the preparation of the finan¢ial statements in accordance with the requirements of the CharS1iesAcl 2011. I report in respect of my examination of the chaTity'8 finan¢181 statements carried out undef section 145 of the Charities A¢1 2011. In carrying out my examination I have followed the Dire¢llon8 given by the ChaTity Commlssion under section 14515llbl of the CharitiesAcl 2011. Independent examln•r's statfrment I have completed my examlnalion. I confirm that no matters have come to my attonlion in connection with the examination giving me cause lo believe that in any malerlal respect.. accounllng records were not kept in respect of the charity as required by section 130 of the Charill8s Act 2011. the financlal $18lements do not accord with those records,. or the financial sl*ements do not comply with the applicable requlrem¢nls coneerning the form and content ol financial slalemenls s&1 out ln tho Charities (Accounts and Reports) Regulalitsns 2008 other than any requiroment that the financial statements give a true and falr view, which is not a matter considered as part ol an independent examination. I have no concerns and have come across no other matters in connection with the &x8mination to which allenlion should be drawn in this report in order lo enable a proper understanding of the linancial statements lo be reached. Sarah J Roberts BSC FCA JLWinder & Co Suite 6 Furness Gale Peter Green Way Barrow in Furness Cumbria LA14 2PE 25 March 2025
J & E GUNSON ALMSHOUSE TRUST STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 DECEMBER 2024 Unrestricted Designated fund$ funds 2024 2024 Total Total 2024 2023 Not&s Income 54.884 54,884 49.466 Charitable aGtlville5 69,631 69,631 56,629 Net gainslllosses} on invèstments 1,654 1,654 6,255 Net outgolng resourcès bÈforè transfers 113.0931 (13.093) 19081 Gross transfers between funds 11,514 111,5141 Net movement In funds 11,5791 111,5141 {13.093) 19081 Fund balances al 1 January 2024 125,D08 73,480 198.488 199,396 Fund balances at 31 December 2024 123,429 61,966 185,395 198,488 Th8 8ts1ement of Iinanoal aclivttie8 includes all gains and tosses rocognisod in the year. Th@ 8tatemBnt of financial acl5vi1188 includes all gains and k>sses recognlged in the year. All income and expenéilure derive from continuing aclivities.
J & E GUNSON ALMSHOUSE TRUST BALANCE SHEET AS AT31 DECEMBER 2024 2024 2023 Notes Flxed assets Tangible asse18 Invastmenls 4,164 48.603 4.675 55,718 10 52.767 60,393 Current ass8ts Debtors Investments Cash al bank and in hand 11 1.354 114,844 19.177 1,085 129,461 9.548 135.375 140,094 Crndltors: amounts falllng due within one year 12 {2,7471 11.9991 Nel current assets 132.628 138,095 Total assets l&ss current Ilabllltles 185.395 198.488 Income funds restri ds DesignalÈd funds General unre8lrl¢ted funds 13 61.S£6 123,429 73,480 125.008 185.395 198,488 Tho financial statements were approved by the Trustees on 25 March 2025 Mr J Hutton Trustge Mis S Hackett Trustee
J & E GUNSON ALMSHOUSE TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 Accounting pollcles Charity Ihformatlon J & E Gunson Almshouse Tru5t1s a registered charity and registered provider of soclal housing in th& United Kingdom. The address foT the registered office 18 given on the first page ol these financial statements. Joseph and Eleanor Gunson Almshouse Trust conslilules a public entity as defi'ned by FRS 102. 1.1 Accountlng eonvéntlon The financial slalem8nts have been prBpared in a¢¢ordan¢e with applicable accounting standards induding Financial Reporting Standard 102 The Financial Reporting Standard Applicable In the UK and Republic of Ir¢land IFRS 1021, the Statement of Recommended Practice for Social Housing Providers 2018. and with the Accounting Dlreclion for private registertsd providèrs of social housing In England 2019. Tho financlal stalements are also prepared under the requirements of the Housing and RegeneralionAcl 2008 The financial slatem8ntS are prèpared in Sterling, which is the functional currency of thè charity. Monetary arnounls in these financlal slalemenls Bre rounded lo the nearest £. The financlal statements have been prepared under the historical cost convenllon. The principal a¢counling poli¢ies adopfrd are set out below. 4.2 Golng concern At the time of approving tha financial slalements, the TrL¢Stees have a reasonable expeclalion that the charity has adequate resources lo continue in operati¢)nal exislence for the toreseeable future. Thus the Tru818?s continue lo adopt the going Concern basis of 8ccounllng in prèparing the financial slatemenls. 1.3 Charltable funds Unreslri¢led funds are available for use at the discretion of the Trustees in furtherance of their charitable objectives. 1.4 Incomlng resources Turnover represènts maintènance contributions receivable. revgnup grants from local authorities and national charitable trusts and fundr81slng income. 1.5 Tanglble fixed assets Tangible fixed assets are ini118lly m8a$urgd al cost and subsequently me8sured al cost or valuation. net ol depTecAalion and any imp8irm@nl losses. DeprÉ¢iallon 1$ rewgnlsed so as lo write off the cost or valuatlon of assets less thèir residual valua8 over their seful lives on the follc)wing bases.. Housing Propertles Frsehold Land Car Park 10kn stralghl line no depreciation 40/0 8lraighl line Thè gain or 108s arising on the dispgsal of an asset is dglermined as tho differencè between the sale proceed5 and the carrying valuè of the asset. and is recognised in the statemént of financial activities. Housing land end bvildings aro stsled at cost. There are len dwellings all of which were built before 1918. No dÈpreciallon Is made in respect of land. Th& land and buildings are used for the purposes of the charity and form part of ils pemianenl endowment. 1.6 Fixed asset Investments Investments are staled at market value. The uniealised gains or losses arising from Ih8se are alloeatèd to thè relevant reserve appoint@d on thè nLJmb6r of units held on each reserve.
J & E GUNSON ALMSHOUSE TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 Accountlng poll¢les Icontlnuedl 1.7 Repairs and malntenance Costs are charged lo thè income and expènditure account In the year in whiGh they aré incurred. 1.8 D8slgnated reserves 11 Cyclical repalrs and maintenance TeseTve 21 Ext¥arNdinary repair reserve 31 Routine mairitenance reservo The cha¥ity has established the above three reserves. The following annual transfers from revenue are recommended by IhgAlmshouseAssocialion. 11 £1,044 per unit pe¥ annum 21 £639 per unil per annum 3) £721 per unil per annum. Income Unrestrlcted funds Total 2024 2023 Maintenance conlrtbulions Income from listed investments Interest receivable 48.260 6.614 10 42.797 6.e62 54,884 49,466
J & E GUNSON ALMSHOUSE TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 Charltable actlvltles Total 2024 Total 2023 Depweclallon and impairment Rates Insurance Light and heal Routine repairs 511 2,631 1,809 287 5.235 511 3,164 1.798 374 1.808 E ij Cyclical repairs Exliaordlnary repalr8 TV licence Honoraria Sundry expenses Subscriptions Accounlan¢y fees 14,016 41,115 524 750 291 818 1,644 3,256 42,63e 51 750 365 1,620 69,631 56,629 69,631 56,629 Net movement In funds 2024 2023 The nel movement In funds Is slated after chargingllcredilingl.. Fees payable for the independent examination of the charity's financial 8talemttnls Depreciation of owned tangible fixèd assets 511 511 Trustees None of the TNslees lor any porsons ¢onnecled wllh them) received any remuneration during the year. Employoos The average monthly number of employees during the year was.. 2024 Number 2023 Number Total There were no employees whgsp annual remuneration was more than £60,OQO. Remuneration of key management personnel There was no remuneration of key management personnel
J & E GUNSON ALMSHOUSE TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 Nèt galnslllossèsl on Investments Unrestrlcted Unrestricted funds funds 2024 2023 Gainlllos81 on sale of investments 1,654 6,255 Taxatlon The charity is exempl from taxation on its activities because all Sls income is applied for ¢haritsble Purposes. Tangible fixed a$s0ts HoU$lg Freehold Land Prop8rt18S Car Park Total Cost Al 1 January 2024 1.651 60 12.790 14,501 Al 31 December 2Q24 1.651 60 12,790 14.501 Depreclation and Impalmignt Al 1 January 2024 Depreciation charged in the year 1,650 8,176 511 9,826 511 At 31 December2024 1.650 8,687 10,337 Carrying amount At 31 December 2024 60 4,103 4.184 At 31 De¢ember 2023 fjo 4,814 4.675 1LTr-
J & E GUNSON ALMSHOUSE TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 (Continued) 10 Flxed assèt Investments No of income unlts Income unlts Doposlt fund Total 1,427.38 Cyclical maintenanc& lund 537.72 Extra-ordinary repair fund 255.38 Routine maintenancè 260.75 Current asset (part of accumulated surplus) 28.965 1D,911 5,184 5,291 14,6641 110,9111 32,481 47,586 24,301 37,685 52,877 2,481.23 1,207.66 Permanent endowment Icapit811 fund 50,351 24,508 fj4.492 24,095 114,843 48,603 3,688.89 74,859 86.587 163,446 The COIF income units are al markèt value, their cost wa5 £26,000 11 D&bto 2024 2023 Amounts falllng due wlthln one year: Trad& debtors Prepayments ar accrue(l income 1,354 1,031 1,354 1,085 12 credltors: amounts falllng duè w5thln one year 2024 2023 Other creditors Accruals and deferred income 250 1,749 2.747 2.747 1,999 11
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J & E GUNSON ALMSHOUSE TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 14 Analysls of net assots b&een funds Deslgnated Copllal and reserves accumalated surplus 2024 Total Totsl 2024 2024 2023 Fund balances al 31 December 2024 are represented by.. Tangible assets Endowment Investments Current assets Cash al bank Creditors 4,164 48,603 52,878 1,354 19,177 12,7471 4,1e4 48,603 114,844 1,354 19,177 12,7471 4,675 55.718 129.461 1,085 9,548 11.9991 61,966 61,966 123,429 185,395 198,488 15 Rblated party transactlons There were no disdosable related party transactions during the year12023- none}. 13-