## ## ## |Trustee,
Independent
Examiner and Bankers|| |---|---| |Report ofthe Board ofTrustee|4-5| |Report ofthe Independent
Examiner|| |Balance Sheet|| |Statement
of Financial Activities|| |Notes to the Financial Statements|9-15| ## ## ## ## ## ## ## ## |1.The chanty is the Meggs' Almshouse
Chenly
with the charity number 234706||||||||| |---|---|---|---|---|---|---|---|---| |2. Meggs' Almhouse
Charity is an almshouse
charity regulated
by a scheme ofthe Charity Commission|dated 1960as varied||on the|||29th|August|| |1980,6th March 1989, and 30th Msy 2003.||||||||| |3.The charity has a single corporate trustee which delegates
its authority
to an appropriate
person on a day-to-day
basis.||Forthis reason||||||there are| |no policies and procedures
required
for the recruitment,
appomtment
or induction
ofnew trustees.||||||||| |Statement ofTrustee responsibilities
in respect ofthe gnancial
statements||||||||| |The Trustee present their report and reviewed
financtal
statements
for the year ended 30June 2021.||||||||| |The Trustee is responsible
for preparing
tha Trustees
Report and the financial
statements
in accordance
with applicable
law|||and Ursted||||Krngdom|| |Accounting
Standards
(United
Kingdom Generally Accepted Accounting
Practice).||||||||| |The law applicable
to charities
in England
&Wales requires the trustee to prepare financial
statements|for each financial
year|||which||give|a|true and| |lair view ofthe state of sffarrs ofthe charity and of the incomrng
resources and application
of resources|ofthe charity for that||period.
In preparing|||||| |these financial statements,
the trustee
is required
to:||||||||| |select suitable
accounting
policies and then apply them consistently;||||||||| |observe the methods
and principles
in the Charities SORP;||||||||| |.make judegments
and estimates
that are reasonable
and prudent;||||||||| |~state whether
applicabls
accounting
standards
have been followed, subject to sny material
departures|disclosed
and explained||||in|the finandal||| |statements;||||||||| |prepare the financral
statements
on the going concern basis unless
it is inappropriate
to presume
that|the charity
will continue||||in operation.|||| |The Trustee is responsible
for keeping accounting
records that disclose with reasonable
accuracy al any arne the financial||position||||ofthe charity snd||| |enable them to ensure that the financial statements
comply with the Charities Act 2011,the Chanty
(Accounts Reports) Regulations||||||2008 and trust||| |deed. They are also responsible
for safeguarding
the charittfs assets and hence for taking reasonable|steps for the prevention||||and|detecfion offraud||| |and other irregularities.||||||||| |The Trustee confirms that they have complied
with their duty under section 17ofthe Charities Act 2011 regarding
publtc benefit|||||guidance||published|| |by the Charity Commission.||||||||| |The Trustee confirms that they have complied
with all relevant
laws and regulations.||||||||| |Results and review ofthe year||||||||| |During the year, the Charity generated
an income of867,418(2020:872,250) and spent f51,432 (2020:844,028), resultmg|||m|a surplus|||of|f15,985| |(2020.828,222)for the year.||||||||| |Spending
this year decreased
due to prior year investment
m maintenance
works to improve
key property
equipments
and||components
such ss||||||| |communal
boiler and heating
system, fire protection
equipment
and conducting
electncal testing snd fire nsk assessment.||Maintenance
and service||||||| |costs have been considerably
lower due to the reduction of works and communal
services dufing the first Covid-19 lockdown||||period. The communal||||| |services and maintenance
works have resumed
and are done within the government
social distancing|requirements.
The effect||||ofthis has|||been| |factored mto next year's budgets. The trustees have had regard to the Chanty
Commission's
guidance|on public benefrt.|||||||| |There was an unrealised
gam m investments
of66,989 in line with general stock market trends.||||||||| |Resenres policy||||||||| |At year-end,
total charity funds are at 8303,207 (2020:f280,232) of which 66,183(2020.66,183)relates to an endowment||reserve.||||The|Trustees|| |consider that the charity should
hold reserves
equal to 12 months'
running
costs. The current reserves|are sufficient.|||||||| ## ## ## ## ## ## ## ||||Notes|2021
6|2020f| |---|---|---|---|---|---| |Tangible fixed assets|||||| |Tangible Assets- housing|properties|||230,061|235,498| |Tangible Assets - equipment||||40,917|36,926| |Investments||||65,360|58,390| |||||336,358|330,814| |Current Assets|||||| |Debtors||||2,109|12,259| |Cash and cash equivalents||||77,322|76,972| |||||79,431|89,231| |Less: creditors|||||| |Amounts
falling due within|one year||7a|(51,391)|(76,710)| |Net current assets I(liabilities)||||28,040|12,521| |Total assets less current
liabilities||||364,398|343,335| |Creditors|||||| |Amounts
falling due after|more than one year||7b|(61,191)|(63,103)| |Total Net Assets||||303,207|280,232| |Capital and Reserves|||||| |Permanent
Endowment
Fund||||6,163|6,163| |Unrestricted
Income:|||||| |Accumulated
Surplus|||9|235,341|219,356| |Designated
- Property Finance|||10|24,602|24,602| |Designated
- Cyclical Maintenace||Fund|10|7,824|7,824| |Designated
- Extraordinary|Repair|Fund|10|29,257|22,267| |||||303,207|280,232| ## ## ||||STATEMENT OF FINANCIAL ACTIVITIES|STATEMENT OF FINANCIAL ACTIVITIES|STATEMENT OF FINANCIAL ACTIVITIES|STATEMENT OF FINANCIAL ACTIVITIES|| |---|---|---|---|---|---|---|---| |||||FOR THE YEAR ENDED 30JUNE||2021|| ||||||Notes|2021f|2020
8| |||||||TotelFunds|TotalFunds| |Income from:|||||||| |Charitable
activities||||||67,034|71,937| |Investments|||||12|384|313| |Total income||||||67,418|72,250| |Expenditure
on|||||||| |Expenditure
resources from:|||||||| |Chadtable
activities|||||13|51,432|44,028| |Total expenditure||||||51,432|44,028| |Net incomel(expenditure)||before||other recognised|gainsl(losses)|15,986|28,222| |Other recognised|gains/(losses):||||||| |Unrealised
gain on|investment||assets|||6,989|3,215| |Net movement
in|funds|||||22,975|31,437| |Operating
surplus/deficit|||||||| |Total funds brought|forward|at|I July|||280,232|248,795| |Total funds carded|forward at||30June|||303,207|280,232| ## ## ## ## ## |Housing Properties|||||||| |---|---|---|---|---|---|---|---| |)he charity separately
identifies the major components
that comprise
lls housing|properties
and charges||depreciation|to write down||the|| |cost ofeach component
to ils estimated
residual
value, an s straight
line basis, over its estimated||useful|economic life.||||| |The Chadity depreciates
the major components
ofits housing
properties,
at rates|calculated to write offthe cost, over|||the following|lives||| |.Land —Indefinite|||||||| |Housing
properlies —original
strucfure -100years straight
line|||||||| |Housing
Properties —improvements
to skucture —50years|||||||| |.Housing
properties
equipment-
other components
- 12to 30years strarght
line|||||||| |Capital government
grants|||||||| |Where refurbishments
have been financed
wholly or partly by capital grants, the amount
ofthe grant received has been included|||||as||| |deferred
income end recognised
in Turnover over the estimated
useful
kfe ofthe|associated asset structure (not lend), under the||||accruals||| |model.
Capital grant received for items of cost written ofiin the Statement ofFinancial Acttviees||is included as pari ofTurnover.|||||| |Where individual
components
are disposed
of and this does not create a relevant|event for recyoling purposes,
any grant allocated|||||to the|| |component
is released
to the income and expenditure
account. Upon disposal of|the assoaatsd|properly
the charity||is required
to recycle|||| |these proceed, as such a contingent
liability is disclosed
to retlect this|||||||| |Oebtors|||||||| |Amounts
receivable (or paid in advance) at the end ofthe penod are included
in the financial
statements|||under debtors. These mclude||||| |invoiced service and prepaid
expenditure.|||||||| |Amounts
payable atthe end ofthe penod ars mduded
in the financial statements|under amounls|paysbls
within or after one year as|||||| |appropriate.
This includes
amounts
due to suppfiers
and acorued expenditure
(due but not invoiced). These ere measured
at amortised|||||||| |cosL|||||||| |Investments|||||||| |Investments
are recognised
initially st fair value which is nonnagy
Ihe transaction|pnce excluding|transaction
costs.||Subsequently,||they|| |sre measured
at fair value with changes recognised
in 'net gains
/ (losses) on investments
in the||SoFA|if the shares|are publicly|traded or||| |their fair value can otherwise
be measured
reliably.|||||||| |Going Concern|||||||| |The trustees
consider that there are no material
uncertamties
about the Chanty's|ability to continue as a going concern.||||||| |Judgements
and key sources ofestimation
uncekalnty|||||||| |The preparation
ofthe financial
statements
requires judgements,
estimates
and|assumptions
that affect the amounts|||reported for assets|||| |and fiabilities ss atthe balance sheet date and the amounts
reported for revenues
and expenses||during|the year.
However,
the||nature of||| |estimation
means that actual outcomes
could differ from those estimates.
The following judgements
(apart from those involving|||||||| |estimates)
have had an effect on amounts
recognised
in the financtal
statements;|||||||| |Tangible fixed assets are dspreasled
over their useful lives taking
tnlo account residual
values,||where|appropnate.|The actual lives ofths|||| |assets and residual values are assessed annually
and may vary depending
on a|number
offactors.
In||re-assessing|asset lives,|factors||| |such ss technological
innovatton,
product
life cycles and maintenance
programmes
are considered.
Residual value||||assessments
consider|||| |Issues such as future market condifions,
Ihe remaining
life ofthe asset and projected disposal values.|||||||| |Financial
Instruments|||||||| |Fmandial
instruments
such as accounts peyablss,
accounts receivables
and cash are SassTiied||either|as beam or complex.
Afi financial||||| |instruments
are initially measured
at their fair values at the time the transactions|occur. Subsequently,||basic tnsWmsnts
are measured||||et| |amortised
cost and ag complex financial
instruments
are measured
atsfair value through
profit||and loss.|||||| |Financial
inslruments
held by the charity are classifie as follows|||||||| |Fixed asset investments
are held at fair value through
profit or loss|||||||| |Cash and cash equivalents
are held at cost.|||||||| |Flnanasl assets and liabilities are held at amortised
cost using the effective Interest method.|||||||| ## ## |3.TANGIBLE FIXEDASSETS —HOUSING|PROPERTIES||| |---|---|---|---| ||Property|Property|Total| |||Improvementf|| |Cost|||| |At 1 July 2020|24,6D4|259,530|284,134| |Additions(Sales|||| |As at 30June 2021|24,604|259,53D|284,134| |Depreciation|||| |At 1 July 2020
Charge for the year|(19,951)
~247|(28,685)|(46,636)
~5,438| |As at 30June 2021|(2D,198)|(SL876)|(54,074)| |Net book value at 3DJune 2021|4,4D6|225,655|230,061| |Net book value at 1 July 2020|4 653|230,845|235,498| ## |4.TANGIBLE FIXEDASSETS —HOUSING PR|OPER1Y EQUIPISENT|| |---|---|---| ||2021|| ||f|| |Cost at 1 July
Additions
Disposals
As at 30June|53,359
6,751
~1,589
58,521|| |Depreciation||| |As at 1 July|(16,433)|| |Charge for the Year|(2,759)|| |Disposal|1,589|| ||(17,604)|| |Net book value at 30June|40,917|| |Net book value at 1 July|36,926|| |5.INVESTMENTS||| ||2021|2020| ||5|f| |Fair Value as at 1 July|58,39D|55,175| |Additions||| |Dispose(a||| |Revaluation|6,99D|3,215| |Fair Value as at 30June|65,380|58,399| |Cost as at 30June|13,018|13,018| ## ## |||||2021|2020| |---|---|---|---|---|---| ||||||f| |Amounts|falling||due within one year||| |Rent/service
charge smears||||6,527|3,613| |Less: provision||for doubfful debts||(4,418)|(2,799)| |||||2,109|315| |Other debtors|||||11,444| |||||2,109|12,250| |Ta.CREDITORS|||||| |||||2021
f|2020
f| |Amounts|falling|due within one year|||| |Amount|Owed|to L&Q Group||38,394|61,101| |Prepaid|Rent|||7,421|10,289| |Welfare|benefit||&rent adjustment|567|567| |Grarits||||1912|1912| |Accruals|and deferred income|||2,216|2,841| |Deferred|income creditors|||882|| |||||51,391|76,710| |lb. CREDITORS|||||| |||||2021
f|2020
f| |Amounts|falling|due 6/ter one year|||| |Social Housing||Grant|||| |At 1st July||||65,015|66,927| |Amortised|in the||period|(1,912)|(1,912)| |As st 30|Juns|||63,103|65,015| |To be amortised|||in less than one year (note 7a)|1,912|1,912| |To be amortised|||in more than one year|61,191|63,103| |||||63,103|65,015| ## ## ||||||||||||2021|2020| |---|---|---|---|---|---|---|---|---|---|---|---|---| |||||||||||||6| |This represents
the value ofthe investment|||||in 1988. The use ofthis fund||||is|limited|6,183|6,183| |and can only be used to|generate||income from the Trust.|||||||||| |9.ACCUMULATED||||||||||||| |SURPLUSES|||||||||||2021|2020| |Opening
Balance|||||||||||219,356|191,134| |Surplus/(Deficit)
for the year|||||||||||22,975|31,437| |Transfened
in designated||reserves|||||||||(6,989)|(3,215)| |Spend from designated
reserves||||||||||||| |Closing Balance|||||||||||235,341|219,356| |These surpluses
are readily available||||at the Trustees||disposal||||||| |10.DESIGNATED
RESERVES|||||Property
Finance||Extraordinary
**F**
d
Repairs
und|||Cyclical
Maintenance
Fund|2021|2020| |||||||||6||f||| |Balance brought forward|at 1 July|||||24,602|22,260|||7,824|54,694|51,476| |Transfers
from accumulaled||surpluses|||||6,989||||6,989|3,215| |Spent
in the year||||||||||||| |Balance carried forward|at|30June||||24,602|29,257|||7,824|61,683|54,691| ## |11.INCOMING RESOURCES|11.INCOMING RESOURCES|FROM CHARITABLE ACTIVITIES|FROM CHARITABLE ACTIVITIES|FROM CHARITABLE ACTIVITIES|2021|2020| |---|---|---|---|---|---|---| ||||||6|6| |Charges
receivable|(including|service charges)|||66,641|72,739| |Void losses|||||(1,519)|(2,714)| |Capital grants|||||1,912|1,912| ||||||67,034|71,937| |12.INCOME FROM INVESTMENTS|||||2021
f|2020
6| |Dividends
received|from listed|investments|and authorised|units|384|313| |Bank interest||||||| ||||||384|313| |13.EXPENDITURE|ON CHARITABLE ACTIVITIES||||2021|2020| |Repairs|||||13,907|5,496| |Rates, insurance
and services|||||26,609|29,420| |Management
fees|||||5,641|5,493| |Other expenses|||||3,657|2,034| |Governance
costs (note 14)|||||1,538|1,585| |Totalresources
expended|||||51,432|44,028| |14.GOVERNANCE|COSTS||||2021|2020| ||||||6|f| |Independent
examiners fee (excluding VAT).|||||1,281|1,321| ||||||1,281|1,321| ## ## ## ## ||||||Unrestdimed||Permanent|Endowment|Total| |---|---|---|---|---|---|---|---|---|---| |Analysis
ofnet assets between funds|||||funds||furtd||| ||||||f.|||2|2| |Fund balances at 30|June 2021 ers||represented|by.|||||| |Tangible fixed assets|||||336,358||||336,358| |Current assets|||||73,248|||6,183|79,431| |Creditors —amounts|falling|due within one year|||(51,391)||||(51,391)| |Creditom —amounts|falling|due after one year|||(61,191)||||(61,191)| ||||||297,023|||6,183|303,206| |18.FINANCIAL
INSTRUMENTS|||||||||| |Atthe balance sheet date the Charity had the||||following:||2021||2020|| |||||||8|||| |Financial Assets|||||||||| |Measured
at amortised cost|||||||||| |Rent and smvice charge arrears||||||6,527||3,613|| |Other debtom||||||||11,444|| |Measured
at rest|||||||||| |Cash at bank and in|hand measured||atcost|||77,322||76,972|| |Finennai assets measured||through|profiuloss||||||| |Fixed asset inveslmenls||||||65,380||56390|| |Financial Liabilities|||||||||| |Prepaid
Rent||||||7,421||10,289|| |Accruals and deferred income||||||2,216||2,841|| |Other credhors||||||40,872||63,580||