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 2024
TRUSTEES
The Trustees in office during the period were:
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Robert Cooper
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Paul Debenham
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Jeremy Havers
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Peter Jackson
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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 5 months during which 3 Whites Close was refurbished following the death of the previous licensee, prior to being let to new residents. 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:
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Good quality accommodation often adapted and designed to suit older people.
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Enabling residents to enjoy a good quality of life
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Enabling residents to remain in the community in which they have lived and worked, remaining close to family and friends.
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Caring local trustees meet with and support residents.
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Providing affordable housing.
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WHITE’S CHARITY
Registered Charity No: 236069
FINANCE
The accounts for the year report income of £27,194, expenditure of £23,365, giving rise to a net surplus of £3,829. This increased cash funds from £24,372 at the beginning of the year to £28,201 at the end of the year. However, the balance on the charity’s account with M&G Charifund remained unchanged at £127,000. Cash and near-cash reserves, therefore, amounted to £155,201.
Income
At £27,015, income was about £1,700 less than the previous year. Almost all the charity’s income is from license fees for the properties. Whilst license fees remained steady, one property was vacant for 5 months.
The charity does not engage in fundraising.
Expenditure
Expenditure increased from £17,371 in the previous year to £23,365 this year. The charity spent £17,882 improving 3 Whites Close prior to re-letting it to new licensees. This was offset by reductions in routine maintenance and legal fees.
None of the Trustees is remunerated for their role and no expenses were reimbursed to Trustees in the year.
Reserves
The charity ended the year with Cash Funds of £28,201, which is in line with the charity’s stated reserves policy. Whilst the Trustees have no immediate plans to invest in further properties, a future development opportunity has been discussed with a local landowner. Consequently, the trustees are content that any surplus funds be retained as reserves against this potential opportunity.
The charity’s investment assets at year-end were reports at 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 16 March 2025 and signed on their behalf by:
Neil Serjeant Trustee
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| Charity Name | No (if any) | |||
|---|---|---|---|---|
| Whites Charity | 236069 | |||
| Receipts andpayments accounts | CC16a | |||
| For the period from |
Period start date 6th April 2023 |
To | Period end date 5th April 2024 |
| Section A Receipts and payments | Section A Receipts and payments | 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 |
- | 27,015 | - | 27,015 | 28,750 | ||||
| Interest | - | 179 | - | 179 | 64 | ||||
| Other Income | - | - | 10 | ||||||
| Sub total(Gross income for AR) | - | 27,194 | - | 27,194 | 28,824 | ||||
| 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 |
|||||||||
| 28,824 | |||||||||
| 1,121 393 5,630 3,110 900 196 164 5,632 225 |
|||||||||
| 17,371 | |||||||||
| A4 Asset and investment purchases, (see table) |
|||||||||
| Loan Repayment | - | 0 | |||||||
| Investmentpurchase | 1,500 | ||||||||
| **Sub total ** | - | 1,500 | |||||||
| Total payments Net of receipts/(payments) A5 Transfers between funds A6 Cash funds last year end Cash funds this year end |
|||||||||
| 23,365 | 18,871 | ||||||||
| - | 3,829 | 9,953 | |||||||
| - | 0 | ||||||||
| - | 24,372 | 14,419 | |||||||
| - | 28,201 | 24,372 |
Section B Statement of assets and liabilities at the end of the period
| CCXX R1 t SS Categories B1 Cash funds |
1 Details Total cash funds CAF Bank Current Account CAF Bank Deposit Account |
Unrestricted funds to nearest £ - |
Restricted funds to nearest £ 21,521 6,680 28,201 |
Endowment funds to nearest £ |
|---|---|---|---|---|
| 21,521 | - | |||
| 6,680 | - | |||
| - | ||||
| - | 28,201 | 3/03/2025 - |
CCXX R1 accounts (SS)
| Signed by one or two trustees on behalf of all the trustees B5 Liabilities B3 Investment assets B2 Other monetary assets B4 Assets retained for the charity’s own use |
Details 1 - 5 Whites Close, Wilby Road, Stradbroke Suffolk 16WillowClose, Stradbroke, Suffolk M& G Charifund (agree balances with receipts and payments account(s)) Details Details Details Signature |
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) |
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| Date of approval | |||
CCXX R2 accounts (SS)
13/03/2025
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