**WHITE’S CHARITY** Registered Charity No: 236069 **Chair** : Neil Serjeant, 3 The Wytchwoods, Pettaugh, Stowmarket, Suffolk, IP14 6TB **Secretary** : Jeremy Havers, 8 John Shepherd Road, Fressingfield ,Eye, IP21 5SW **Treasurer** : Robert Cooper, Hepwood Lodge, Stradbroke, Eye, IP21 5JN ## **TRUSTEES’ ANNUAL REPORT for the year ended 5 April 2021** ## **TRUSTEES** The Trustees in office during the period were: - Robert Cooper - Paul Debenham - Jeremy Havers - Peter Jackson - Neil Serjeant ## **INDEPENDENT EXAMINER** Mr S J Whayman 51 Cowper Street Ipswich IP4 5JA ## **CHARITABLE PURPOSE** In accordance with its Trust Deed, the charity provides housing and help to elderly adults. In the event property becomes vacant and no elderly people come forward, the charity provides housing to others in need. All the charity’s properties remained occupied in the year, although at the time of writing one property has become vacant following the death of its occupant. The charity is actively seeking to ready the property and find a new occupant. The charity maintains a waiting list of applicants for properties. ## **PUBLIC BENEFIT** The public benefit provided by the charity includes: - Good quality accommodation often adapted and designed to suit older people. - Enabling residents to enjoy a good quality of life - Enabling residents to remain in the community in which they have lived and worked, remaining close to family and friends. - Caring local trustees meet with and support residents. - Providing affordable housing. ## **FINANCE** The accounts for the year report income of £29,824, expenditure of £5,972, asset and investment purchases of £18,000 giving rise to a net deficit of £5,852. This increased cash funds from £45,695 at the beginning of the year to £51,547 at the end of the year. 1 Registered Charity No: 236069 ## **WHITE’S CHARITY** ## Income At £29,824, income was almost £3,000 more than the previous year. All the charity’s income is from license fees for the properties and interest. License fees were increased part way through the year. Overall, license fees were received in a timely fashion. The charity does not engage in fund-raising. ## Expenditure Expenditure reduced from £12,246 in the previous year to £5,972 this year. Having invested significantly in property maintenance in the previous 2 years, the Trustees needed to spend less in the year ended 5 April 2021. All its properties are in a reasonable condition with just signs of normal wear and tear. None of the Trustees is remunerated for their role and no expenses were reimbursed to Trustees in the year. The Trustees continue to have no current plans to invest in further properties. Consequently, they invested a further £18,000 in the M&G Charifund, a UK equity investment funds designed to provide a high and growing income for charities, while at the same time protecting their capital from the erosive effects of inflation over a rolling tenyear period. At 5 April 2020, the charity had £107,500 invested in this fund. ## Reserves The charity ended the year with Cash Funds of £51,547, which is in line with the charity’s stated reserves policy. The charity’s investment assets at year-end were just over £486,259, of which the M&G Charifund (reported at cost) accounts for £107,500, and property (also valued at cost) for £378,759. ## **COVID-19 PANDEMIC** The Charity has continued to operate during the pandemic and associated restrictions. Whilst there have been adjustments to the timing of planned maintenance and improvements due to Government restrictions maintenance and improvement activities have continued. The Trustees remain confident that the charity is, and will continue to be, a going concern. The Trustees believe that the charity’s primary responsibility is to provide safe, warm and affordable housing. Trustees continue to make themselves available to support residents but believe the primary caring responsibility rests with the families of the occupants and the local churches to which they belong. Approved by the Trustees on 27 January 2022 and signed on their behalf by: Neil Serjeant Trustee 2 Recel and nts accounts cci P•tthepviod I Tè Sèctiott A R*ccipts and payments •J 4•7Y JJS IT "on B Statement of assets and liabilities at the end of ihe. period rrt JEAfvT 2I-(-IL Independent examlnerfs report to the tn￿tee$ of Whltes Charity I rvpwl ￿ I*)p￿ offt*w o(th• Lirrltd undw 5•dI￿ 14591 tyth* Chwity 14ySKbl otth• m•i•rial r•ip•¢t:. to be draw th thts tepm In afdtr to ¢￿Its￿ a prop•r IP45 O•te:. * Auw 2021