2023-04-05-accounts - White's Charity

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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 2023

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 apart from 2 months being vacant in one property. The charity maintains a waiting list of applicants for properties.

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.

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.

WHITE’S CHARITY

Registered Charity No: 236069

FINANCE

The accounts for the year report income of £28,824, expenditure of £17,371, asset and investment purchases of £1,500 giving rise to a net surplus of £18,871. This increased cash funds from £14,419 at the beginning of the year to £24,372 at the end of the year. However, the balance on the M&G Charifund grew to £127,000. Cash and near-cash reserves, therefore, amounted to £151,372.

Income

At £28,750, income was about £8,000 more than the previous year. Almost all the charity’s income is from license fees for the properties. Whilst license fees remained steady, the properties were vacant for less time than in the previous year.

The charity does not engage in fundraising.

Expenditure

Expenditure decreased from £39,905 in the previous year to £17,371 this year. Whilst expenditure on maintenance and repairs was slightly up on the previous year (£5,630 compared to £4,167), there were no major property improvements in the current year, reducing expenditure from £32,544 last year to £3,110 this year.

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 £1,500 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 ten-year period. At 5 April 2023, the charity had £127,000 invested in this fund.

Reserves

The charity ended the year with Cash Funds of £24,372, which is in line with the charity’s stated reserves policy. The charity’s investment assets at year-end were just under £506,000, of which the M&G Charifund (reported at cost) accounts for £127,000, and property (also valued at cost) for £378,759.

Approved by the Trustees on 25 January 2024 and signed on their behalf by:

Neil Serjeant Trustee

	Whites Charity Charity Name	Whites Charity Charity Name	Whites Charity Charity Name	236069 No (if any)	CC16a
	For the period from	6th April 2022 Period start date	To	5th April 2023 Period end date

Section A Receipts and payments
A1 Receipts	Unrestricted funds to the nearest £	Restricted funds to the nearest £	Endowment funds to the nearest £	Total funds to the nearest £	Last year to the nearest £
Rents onproperties	-	28,750	-	28,750	*20,765*
Interest	-	64	-	64	4
Other Income		10		10	8





*Sub total*(Gross income for AR)	-	28,824	-	28,824	*20,777*

A2 Asset and investment sales, (see table).


*Sub total*	-				0
*Total receipts* A3 Payments Insurances Electricity Repairs & Mainenance Improvements to Properties Management fees for 16 Willow Close The Almshouse Association - Subscription Council Tax Legal Expenses Other Expenses
					*20,777*
					*1,013* *584* *4,167* *32,544* *558* *187* *610* 0 *242*
					*39,905*

A4 Asset and investment purchases, (see table)
Loan Repayment	-				0
Investmentpurchase					*18,000*
**Sub total **	-				*18,000*
*Total payments* *Net of receipts/(payments)* A5 Transfers between funds A6 Cash funds last year end *Cash funds this year end*
				18,871	*57,905*

	-			9,953	*- 37,128*
				-	0
	-			14,419	*51,547*
	-			24,372	*14,419*

Section B Statement of assets and liabilities at the end of the period

Unrestricted funds to nearest £ -	Restricted funds to nearest £ 17,835 6,537 24,372	Endowment funds to nearest £
	17,835	-
	6,537	-
		-
-	24,372	04/02/2024 -

Signed by one or two trustees on behalf of all the trustees B2 Other monetary assets B4 Assets retained for the charity’s own use B5 Liabilities B3 Investment assets	Signature (agree balances with receipts and payments account(s)) Details Details Details 1 - 5 Whites Close, Wilby Road, Stradbroke Suffolk 16WillowClose, Stradbroke, Suffolk M& G Charifund Details	OK OK Unrestricted funds Restricted funds to nearest £ to nearest £ - - - - - - - - - - - - Fund to which asset belongs Cost (optional) Capital Fund 222,554 Capital Fund 156,205 Capital Fund 127,000 - - Fund to which asset belongs Cost (optional) - - - - Fund to which liability relates Amount due (optional) - - - - Print Name	OK
			Endowment funds to nearest £
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			Current value (optional)
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			Current value (optional)
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			When due (optional)






			Date of approval

CCXX R2 accounts (SS)

04/02/2024

Independent examinerfs report to the trustees of Whites Charity I report to the trustees on my examination of the accounts of Whites Charity (the Trust) for the period ended 5 April 2023. Responsibilities and basis of report As the charitvs trustees. you are responsible for the preparation of the accounts 111 accordance with the requirements of the Charities Act 20111'the Act'}. I report in respect of my examination of the Trust'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 14515llbl of the Art. Independent examinerf5 Statement I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination which gives me cause to believe that in, any material re5pect- accounting records were not kept in accordance with section 130 of the Charities Act: or the accounts did not accord with the accounting records; or the accounts did not comply with the applicable requirements concernin8 the form and contents of accounts set out in the Charities IAccounts and Reportsl Regulation5 2008 other than any requirement that the accounts give a 'true and fairf 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 account5 to be reached. Signed: Name: Mr S J Whayman Address: 51 Cowper Street Ipswich IP4 5JA nd Date:_ 22 January 2024