**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: - 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 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: - 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 £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 2 |**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 £**| ||||**-**| ||||**-**| ||||**-**| ||||**-**| ||||**-**| ||||**-**| ||||**Current value**
**(optional)**| ||||**-**| ||||**-**| ||||**-**| ||||**-**| ||||**-**| ||||**Current value**
**(optional)**| ||||**-**| ||||**-**| ||||**-**| ||||**-**| ||||**-**| ||||**-**| ||||**When due**
**(optional)**| ||||| ||||| ||||| ||||| ||||| ||||| ||||Date of approval| ||||| ||||| CCXX R2 accounts (SS) 13/03/2025 2 Independent examinerfs report to the trnstees of WhFtes Charity I repm tg Eho trust¢4s ￿ my ofthtr ofvthitqs Chwtry lth*Tru*l) th• p*lad •nded 5" ZOZ As th• durirf> tnJ>ttt5. w)u we respm51Y• lor *h* prep*#￿fi ol th• x(wnts •rwrd•nre wlth of lh* Ch¥ttiesArt 201117ht Arfl. I repon irt r•wd glmyex￿lMIkn oftheTrtsstrsattthrtsurrl¢