**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.
1
**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
2
||**Whites Charity**
**Charity Name**|**Whites Charity**
**Charity Name**|**Whites Charity**
**Charity Name**|**Whites Charity**
**Charity Name**|**Whites Charity**
**Charity Name**|**236069**
**No (if any)**|**236069**
**No (if any)**|**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**
|CCXX R1 accounts (SS)
**Categories**
**B1 Cash funds**|1
CAF Bank Current Account
CAF Bank Deposit Account
**Details**
**_Total cash funds_**|**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 £**|
||||**-**|
||||**-**|
||||**-**|
||||**-**|
||||**-**|
||||**-**|
||||**Current value**
**(optional)**|
||||**-**|
||||**-**|
||||**-**|
||||**-**|
||||**-**|
||||**Current value**
**(optional)**|
||||**-**|
||||**-**|
||||**-**|
||||**-**|
||||**-**|
||||**-**|
||||**When due**
**(optional)**|
|||||
|||||
|||||
|||||
|||||
|||||
||||Date of approval|
|||||
|||||
CCXX R2 accounts (SS)
04/02/2024
2
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