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2020-12-31-accounts

REGISTERED CHARITY NUMBER: 236411

REPORT OF THE TRUSTEES AND

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST DECEMBER 2020

FOR

KINGSCLERE ALMSHOUSES CHARITY

C B Heslop & Company Limited Chartered Accountants

1 High Street Thatcham Berks RG19 3JG

KINGSCLERE ALMSHOUSES CHARITY

CONTENTS OF THE FINANCIAL STATEMENTS for the year ended 31ST DECEMBER 2020

Page
Reference and Administrative Details 1
Report of the Trustees 2 to 3
Independent Examiner's Report 4
Statement of Financial Activities 5
Balance Sheet 6
Notes to the Financial Statements 7 to 17
Detailed Statement of Financial Activities 18

KINGSCLERE ALMSHOUSES CHARITY

REFERENCE AND ADMINISTRATIVE DETAILS for the year ended 31ST DECEMBER 2020

Trustees
Almshouses Charity
Co-official Councillor Sue Adams
Mrs P Stewart - ChairmanMrs I
Nominative Trustees Powers
Mrs Lucy Virtue
Mr Philip Crisford
Co-optative Trustees Mr P Dring - Vice Chairman
Rev B Read
Mrs J Turner
Mr Peter Eastwick- Field
Robert Higham Mr P Crisford - Chairman
Mrs I Powers - Vice Chairman
Welfare Charities Mr P Eastwick-Field - Chairman
Councillor Sue Adams - Vice
Chairman
Clerk to the Trustees Mrs J Pearce
Address Russell House
Ashford Hill Road
Headley
Thatcham
Berkshire RG19 8AB
Charity number 236411
RSL number AO486
Accountants C B Heslop & Company Ltd
Chartered Accountants
1 High Street
Thatcham
Berkshire RG19 3JG
Bankers HSBC Bank Plc
2 The Parade
Mulfords Hill
Tadley
Hampshire RG26 3LG
Insurance Broker AON Limited
Briarcliff House
Kingsmead
Farnborough
Hampshire GU14 7TE

Page 1

KINGSCLERE ALMSHOUSES CHARITY

REPORT OF THE TRUSTEES

for the year ended 31ST DECEMBER 2020

The trustees present their report with the financial statements of the charity for the year ended 31st December 2020. The trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019).

Charity name

The full name of the charity is 'The Charity of The Reverend Thomas Brown' and incorporates 'The Charity of George Durbidge'. The Charity is better known as the 'Kingsclere Almshouses Charity'.

Constitution and objects

The charity is operated under the rules of its Charity Commission Scheme dated 2nd September 1969, as varied by the Scheme of 2nd February 1987 and Order dated 18 March 2003. The principal objectives of the charity are:

  1. To provide accommodation to poor persons resident in the parishes of Kingsclere and the ancient parish of Baughurst.

  2. To apply the income of the charity for the benefit of the almspeople in such manner as the Trustees see fit.

Principal policies to achieve objects

The twelve almshouse properties are leased under license to local residents for a weekly charge. This income is used to fund the running and maintenance costs of the properties.

Review of the year

Accommodation was provided to 12 almspeople during the year. The income was applied against the general running expenses, leaving a net income of £1,775.12 (2019 -£1,582.99) before investment income, revaluation gains and property improvement transfers.

The trustees would like to express their thanks to the Warden for her efforts in ensuring the well being of the residents at Headley. The trustees will continue to work with the interests of the residents in mind and will strive to maintain and improve the properties to the best of their ability whilst bearing in mind the funds available.

Reserves policy

The designated fund for Cyclical Maintenance stands at £33,486 (2019 £36,271) and is maintained in accordance with the Charity Scheme. The funds are invested by the trustees in order to generate income for the future maintenance of the properties. An annual transfer of £Nil (2019 £Nil) is made from unrestricted funds to the Cyclical Maintenance Fund. Unrestricted funds are required to support the running costs of the charity on a daily basis. The current level of £75,039 (2019 £70,629) is appropriate for this purpose.

Risk Management

The Trustees have considered the risks to which the Charity is exposed. These have been reviewed and systems and procedures are in place in order to mitigate those risks.

Trustees

The Trustees of the Charity during the year under review are those shown on page 1. When complete, the board of trustees shall consist of two ex-officio trustees, four nominative trustees and four co-optative trustees. The nominative trustees are appointed by the Parish Councils of Kingsclere and Ashford Hill with Headley. Co-optative trustees are persons residing or carrying on business in or near the area of benefit. A new trustee may be appointed by a resolution of the Trustees, recorded in the minutes and an acceptance signed by the new trustee.

Election of the Chairman

The chairman is elected by the trustees for a period of one year.

Organisational structure

The trustees meet five times a year to discuss the overall operation of the Charity whilst the day to day running of the charity has been delegated to the Clerk who is assisted by the Warden.

Page 2

KINGSCLERE ALMSHOUSES CHARITY

REPORT OF THE TRUSTEES for the year ended 31ST DECEMBER 2020

STRUCTURE, GOVERNANCE AND MANAGEMENT Governing document

The charity is controlled by its governing document, a deed of trust and constitutes an unincorporated charity.

Approved by order of the board of trustees on ............................................. and signed on its behalf by:

........................................................................ Mrs P Stewart - Trustee

Page 3

INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF KINGSCLERE ALMSHOUSES CHARITY

Independent examiner's report to the trustees of Kingsclere Almshouses Charity

I report to the charity trustees on my examination of the accounts of Kingsclere Almshouses Charity (the Trust) for the year ended 31st December 2020.

Responsibilities and basis of report

As the charity trustees of the Trust you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('the Act').

I report in respect of my examination of the Trust's accounts carried out under section 145 of the Act and in carrying out my examination I have followed all applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.

Independent examiner's statement

I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:

  1. accounting records were not kept in respect of the Trust as required by section 130 of the Act; or

  2. the accounts do not accord with those records; or

  3. the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a true and fair 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 accounts to be reached.

Stephen J Coke C B Heslop & Company Limited Chartered Accountants 1 High Street Thatcham Berks RG19 3JG

Date: .............................................

Page 4

KINGSCLERE ALMSHOUSES CHARITY

STATEMENT OF FINANCIAL ACTIVITIES for the year ended 31ST DECEMBER 2020

Notes
INCOME AND
ENDOWMENTS FROM
Charitable activities
Charitable Activities
Investment income
2
Total
EXPENDITURE ON
Charitable activities
3
Charitable Activities
Governance costs
Total
Net gains/(losses) on
investments
NET
INCOME/(EXPENDITURE)
Transfers between funds
16
Net movement in funds
RECONCILIATION OF
FUNDS
Total funds brought forward
TOTAL FUNDS CARRIED
FORWARD		 Unrestricted
funds
£
63,771
30
63,801
56,702
4,766
61,468
62
2,395
(529)
1,866
70,629
72,495		 Designated
Fund
£
-
1,556
1,556
-
-
-
(4,341)
(2,785)
-
(2,785)
36,271
33,486		 Endowment
funds
£
-
1
1
39,515
-
39,515
-
(39,514)
529
(38,985)
1,370,584
1,331,599		 31.12.20
Total
funds
£
63,771
1,587
65,358
96,217
4,766
100,983
(4,279)
(39,904)
-
(39,904)
1,477,484
1,437,580		 31.12.19
Total
funds
£
62,306
1,540
63,846
97,415
5,529
102,944
6,314
(32,784)
-
(32,784)
1,510,268
1,477,484

The notes form part of these financial statements

Page 5

KINGSCLERE ALMSHOUSES CHARITY

BALANCE SHEET 31ST DECEMBER 2020

Notes
FIXED ASSETS
Tangible assets
9
Investments
10
CURRENT ASSETS
Debtors
11
Cash at bank
CREDITORS
Amounts falling due within one year
12
NET CURRENT ASSETS
TOTAL ASSETS LESS CURRENT
LIABILITIES
CREDITORS
Amounts falling due after more than one year
13
NET ASSETS
FUNDS
16
Unrestricted funds
Endowment funds
TOTAL FUNDS		 31.12.20
£
1,345,094
39,740
1,384,834
75,581
52,855
128,436
(62,803)
65,633
1,450,467
(12,887)
1,437,580
105,981
1,331,599
1,437,580		 31.12.19
£
1,384,608
42,462
1,427,070
72,241
55,879
128,120
(64,211)
63,909
1,490,979
(13,495)
1,477,484
106,900
1,370,584
1,477,484

The financial statements were approved by the Board of Trustees and authorised for issue on ............................................. and were signed on its behalf by:

............................................. Mrs P Stewart - Trustee

The notes form part of these financial statements

Page 6

KINGSCLERE ALMSHOUSES CHARITY

NOTES TO THE FINANCIAL STATEMENTS for the year ended 31ST DECEMBER 2020

1. ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements of the charity, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Charities Act 2011. The financial statements have been prepared under the historical cost convention, with the exception of investments which are included at market value, as modified by the revaluation of certain assets.

Income

All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.

Expenditure

Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.

Charitable activities

Costs of charitable activities include the costs incurred from running the Almshouses.

Governance costs

Governance costs comprise all costs involving the public accountability of the charity and its compliance with regulation and good practice. These costs include costs related to statutory audit and legal fees.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Freehold property - 2% on cost

Taxation

The charity is exempt from tax on its charitable activities.

Fund structure

There are two permanent endowment funds. The Reverend Thomas Brown and George Durbidge Bequests provide accommodation for poor persons resident in the parishes of Kingsclere and the ancient parish of Baughurst. The rental income is wholly unrestricted and shall be applied for the benefit of the almspeople of the Almshouse Charities as the Trustees see fit.

The charity does not have any restricted funds.

Unrestricted income funds comprise those funds which the trustees are free to use for any purpose in furtherance of the charitable objects. Unrestricted funds include designated funds which have been maintained in accordance with the governing document. Further details of the fund are disclosed in note 12.

continued...

Page 7

KINGSCLERE ALMSHOUSES CHARITY

NOTES TO THE FINANCIAL STATEMENTS - continued for the year ended 31ST DECEMBER 2020

2. INVESTMENT INCOME

INVESTMENT INCOME
31.12.20 31.12.19
£ £
Dividend Income 1,587 1,540

3. CHARITABLE ACTIVITIES COSTS

2020 2019
Salaries 10,773 11,515
Property running costs - -
Maintenance 41,628 40,466
Careline expenses 870 2,689
Other costs 1,416 1,146
Loan interest 2,015 2,084
Depreciation 39,515 39,515
96,217 97,415

4. TRUSTEES' REMUNERATION AND BENEFITS

There were no trustees' remuneration or other benefits for the year ended 31st December 2020 nor for the year ended 31st December 2019.

Trustees' expenses

There were no trustees' expenses paid for the year ended 31st December 2020 nor for the year ended 31st December 2019.

5. STAFF COSTS

2020 2019
Staff costs
Clerk to the trustees 5,864 6,418
Warden 6,375 6,702
Employers National Insurance -
Amounts recharged to The Welfare Charities (1,466) (1,605)
10,773 11,515
The average monthly number of employees during the year was as follows:
Clerk
Warden		 31.12.20
1
1
2		 31.12.19
1
1
2

No employees received emoluments in excess of £60,000.

continued...

Page 8

KINGSCLERE ALMSHOUSES CHARITY

NOTES TO THE FINANCIAL STATEMENTS - continued for the year ended 31ST DECEMBER 2020

6.
COMPARATIVES FOR THE STATEMENT OF FINANCIAL
Unrestricted
funds
£
INCOME AND ENDOWMENTS FROM
Charitable activities
Charitable Activities
62,306
Investment income
28
Total
62,334
EXPENDITURE ON
Charitable activities
Charitable Activities
57,900
Governance costs
5,529
Total
63,429
Net gains on investments
142
NET INCOME/(EXPENDITURE)
(953)
Transfers between funds
(460)
Net movement in funds
(1,413)
RECONCILIATION OF FUNDS
Total funds brought forward
72,042
TOTAL FUNDS CARRIED FORWARD
70,629
7.
GOVERNANCE COSTS
Accountancy
Office and administration expenses
Property insurance		 6.
COMPARATIVES FOR THE STATEMENT OF FINANCIAL
Unrestricted
funds
£
INCOME AND ENDOWMENTS FROM
Charitable activities
Charitable Activities
62,306
Investment income
28
Total
62,334
EXPENDITURE ON
Charitable activities
Charitable Activities
57,900
Governance costs
5,529
Total
63,429
Net gains on investments
142
NET INCOME/(EXPENDITURE)
(953)
Transfers between funds
(460)
Net movement in funds
(1,413)
RECONCILIATION OF FUNDS
Total funds brought forward
72,042
TOTAL FUNDS CARRIED FORWARD
70,629
7.
GOVERNANCE COSTS
Accountancy
Office and administration expenses
Property insurance		 ACTIVITIES
Designated
Fund
£
-
1,512
1,512
-
-
-
6,172
7,684
-
7,684
28,587
36,271		 ACTIVITIES
Designated
Fund
£
-
1,512
1,512
-
-
-
6,172
7,684
-
7,684
28,587
36,271		 Endowment
funds
£
-
-
-
39,515
-
39,515
-
(39,515)
460
(39,055)
1,409,639
1,370,584		 Endowment
funds
£
-
-
-
39,515
-
39,515
-
(39,515)
460
(39,055)
1,409,639
1,370,584		 Total
funds
£
62,306
1,540
63,846
97,415
5,529
102,944
6,314
(32,784)
-
(32,784)
1,510,268
1,477,484
2020 2019
2,978 2,862
706 1,566
1,082 1,101
4,766 5,526

continued...

Page 9

KINGSCLERE ALMSHOUSES CHARITY

NOTES TO THE FINANCIAL STATEMENTS - continued for the year ended 31ST DECEMBER 2020

8. HOUSING ADMINISTRATION COSTS

Housing Accommodation - 12 units
Services
Mortgage loan interest
Management and administration
Day to day repairs and maintenance
Provision for cyclical maintenance
9.
TANGIBLE FIXED ASSETS
COST
At 1st January 2020 and
31st December 2020
DEPRECIATION
At 1st January 2020
Charge for year
At 31st December 2020
NET BOOK VALUE
At 31st December 2020
At 31st December 2019		 Service income Operating
costs		 Surplus/
(deficit)
63,771 - 63,771
- (13,059) (13,059)
- (2,015) (2,015)
- (4,766) (4,766)
- (41,627) (41,627)
- - 0
63,771 61,467 2,304
Freehold
property
£
1,975,741
591,133
39,514
630,647
1,345,094
1,384,608

The cost of freehold property is net of housing grants received of £149,006 showing as follows:

Holdrops Hill,Headly George Street,Kingsclere Total
£ £ £
Original Cost 1,750,000 374,747 2,124,747
Housing Grants (149,006) - (149,006)
1,600,994 374,747 1,975,741

The properties were revalued as at 31st December 2005 by Jones Robinson Estate Agents who valued the properties on an 'existing use basis plus or minus 10%'. This is the first valuation carried out on behalf of the charity. The valuation has not been revised subsequently. The historical net book value is £236,525. (2019: £239,140).

continued...

Page 10

KINGSCLERE ALMSHOUSES CHARITY

NOTES TO THE FINANCIAL STATEMENTS - continued for the year ended 31ST DECEMBER 2020

10. FIXED ASSET INVESTMENTS

FIXED ASSET INVESTMENTS
Listed
investments
£
MARKET VALUE
At 1st January 2020 42,462
Additions 1,557
Revaluations (4,279)
At 31st December 2020 39,740
NET BOOK VALUE
At 31st December 2020 39,740
At 31st December 2019 42,462
There were no investment assets outside the UK.
DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.20 31.12.19
£ £
Trade debtors - 965
Other debtors 75,018 70,757
Prepayments and accrued income 563 519
75,581 72,241
CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.20 31.12.19
£ £
Bank loans and overdrafts (see note 14) 1,106 -
Other creditors 61,697 64,211
62,803 64,211

11. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

12. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

continued...

Page 11

KINGSCLERE ALMSHOUSES CHARITY

NOTES TO THE FINANCIAL STATEMENTS - continued for the year ended 31ST DECEMBER 2020

13. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

Other creditors
14.
LOANS
An analysis of the maturity of loans is given below:
Amounts falling due within one year on demand:
Bank overdrafts
Other loans
Amounts falling between one and two years:
Other loans - 1-2 years
Amounts falling due between two and five years:
Other loans - 2-5 years
15.
ANALYSIS OF NET ASSETS BETWEEN FUNDS
Unrestricted
Designated
funds
Fund
£
£
Fixed assets
-
-
Investments
999
38,741
Current assets
75,581
52,855
Current liabilities
(4,085)
(58,110)
Long term liabilities
-
-
72,495
33,486
16.
MOVEMENT IN FUNDS
At 1.1.20
£
Unrestricted funds
General fund
70,629
Designated Fund
36,271
106,900
Endowment funds
Endowment Fund
17,959
Endowment Revaluation Reserve
1,352,625
1,370,584
TOTAL FUNDS
1,477,484		 Endowment
funds
£
1,345,094
-
-
(608)
(12,887)
1,331,599
Net
movement
in funds
£
2,395
(2,785)
(390)
(39,514)
-
(39,514)
(39,904)		 31.12.20
£
12,887
31.12.20
£
1,106
608
1,714
700
12,187
31.12.20
Total
funds
£
1,345,094
39,740
128,436
(62,803)
(12,887)
1,437,580
Transfers
between
funds
£
(529)
-
(529)
29,934
(29,405)
529
-		 31.12.19
£
13,495
31.12.19
£
-
529
529
608
12,887
31.12.19
Total
funds
£
1,384,608
42,462
128,120
(64,211)
(13,495)
1,477,484
At
31.12.20
£
72,495
33,486
105,981
8,379
1,323,220
1,331,599
1,437,580

continued...

Page 12

KINGSCLERE ALMSHOUSES CHARITY

NOTES TO THE FINANCIAL STATEMENTS - continued for the year ended 31ST DECEMBER 2020

16. MOVEMENT IN FUNDS - continued

Net movement in funds, included in the above are as follows:

Incoming Resources Gains and Movement
resources expended losses in funds
£ £ £ £
Unrestricted funds
General fund 63,801 (61,468) 62 2,395
Designated Fund 1,556 - (4,341) (2,785)
65,357 (61,468) (4,279) (390)
Endowment funds
Endowment Fund 1 (39,515) - (39,514)
TOTAL FUNDS 65,358 (100,983) (4,279) (39,904)
Comparatives for movement in funds
Net Transfers
movement between At
At 1.1.19 in funds funds 31.12.19
£ £ £ £
Unrestricted funds
General fund 72,042 (953) (460) 70,629
Designated Fund 28,587 7,684 - 36,271
100,629 6,731 (460) 106,900
Endowment funds
Endowment Fund 27,609 (39,515) 29,865 17,959
Endowment Revaluation Reserve 1,382,030 - (29,405) 1,352,625
1,409,639 (39,515) 460 1,370,584
TOTAL FUNDS 1,510,268 (32,784) - 1,477,484

Comparative net movement in funds, included in the above are as follows:

Unrestricted funds
General fund
Designated Fund
Endowment funds
Endowment Fund
TOTAL FUNDS		 Incoming
resources
£
62,334
1,512
63,846
-
63,846		 Resources
expended
£
(63,429)
-
(63,429)
(39,515)
(102,944)		 Gains and
Movement
losses
in funds
£
£
142
(953)
6,172
7,684
6,314
6,731
-
(39,515)
6,314
(32,784)

continued...

Page 13

KINGSCLERE ALMSHOUSES CHARITY

NOTES TO THE FINANCIAL STATEMENTS - continued for the year ended 31ST DECEMBER 2020

16. MOVEMENT IN FUNDS - continued

A current year 12 months and prior year 12 months combined position is as follows:

Unrestricted funds
General fund
Designated Fund
Endowment funds
Endowment Fund
Endowment Revaluation Reserve
TOTAL FUNDS		 At 1.1.19
£
72,042
28,587
100,629
27,609
1,382,030
1,409,639
1,510,268		 Net
movement
in funds
£
1,442
4,899
6,341
(79,029)
-
(79,029)
(72,688)		 Transfers
between
funds
£
(989)
-
(989)
59,799
(58,810)
989
-		 At
31.12.20
£
72,495
33,486
105,981
8,379
1,323,220
1,331,599
1,437,580

A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:

Unrestricted funds
General fund
Designated Fund
Endowment funds
Endowment Fund
TOTAL FUNDS		 Incoming
resources
£
126,135
3,068
129,203
1
129,204		 Resources
expended
£
(124,897)
-
(124,897)
(79,030)
(203,927)		 Gains and
Movement
losses
in funds
£
£
204
1,442
1,831
4,899
2,035
6,341
-
(79,029)
2,035
(72,688)

Transfers between funds

Endowment Funds

These represent the Almshouse properties which are permanent endowment. The properties are shown at market value less Housing Association Grants. Depreciation at 2% per annum on cost is shown as an expense of the fund. The transfers represent the release of the revaluation reserve to retained earnings over the useful life of the asset.

Endowment Revaluation Reserve

The Revaluation Reserve represents the increase in value of the properties which were revalued as at 31st December 2005 (Note 9). The amortisation of the revaluation represents the release of the reserve to retained earnings over the useful life of the assets, as governed by IFRS 13.

Designated Funds

continued...

Page 14

KINGSCLERE ALMSHOUSES CHARITY

NOTES TO THE FINANCIAL STATEMENTS - continued for the year ended 31ST DECEMBER 2020

16. MOVEMENT IN FUNDS - continued

Transfers between funds - continued

The Cyclical Maintenance Fund (CMF) was set up in accordance with the governing document to fund future maintenance of the properties. Income relates to the accumulated dividend income arising on the investments and interest from the CMF bank account whilst expenditure relates to the upkeep of the properties. An annual transfer is made from unrestricted funds. Revaluation gains are the movement in market value between the balance sheet dates, less the accumulated income.

Unrestricted funds

These are the funds that have not been designated and are for general activities of the Charity.

17. RELATED PARTY DISCLOSURES

None of the trustees or any persons connected with them have received remuneration from the charity.None of the trustees received reimbursement for expenses made on behalf of the charity.

Page 15

continued...

KINGSCLERE ALMSHOUSES CHARITY

NOTES TO THE FINANCIAL STATEMENTS - continued for the year ended 31ST DECEMBER 2020

18. PROPERTY REVENUE ACCOUNT-HEADLEY

2020 2019
£ £ £ £
Income
Gross rents receivable 49,174.88 52,632.68
Less: voids - (4.69)
49,174.88 52,627.99
Expenses
Management
Accountancy and Secretarial 2,233.51 2,155.35
Property insurance 901.62 914.10
Office and administration
expenses		 470.51 1,409.04
3,605.63 4,478.49
Services
Salaries 9,306.94 9,903.04
Water rates - -
Light and heat - -
Grounds maintenance 4,535.00 4,150.00
Telephone 649.77 371.70
Subscriptions 638.33 632.87
Careline expenses 870.00 2,688.92
Sundries - 9.00
16,000.04 17,755.52
Repairs
Day to day maintenance 33,383.40 33,047.27
Provision for cyclical
maintenance		 - -
33,383.40 33,047.27
Financing
Loan interest 2,015.03 2,084.13
Total expenses 55,004.11 57,365.41
Trading surplus/(deficit) for
the year		 (5,829.23) (4,737.42)
Transfer to endowment
fund-loan payment		 528.97 459.87
Surplus/(deficit) for the year (6,358.20) (5,197.29)

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continued...

KINGSCLERE ALMSHOUSES CHARITY

NOTES TO THE FINANCIAL STATEMENTS - continued for the year ended 31ST DECEMBER 2020

19. PROPERTY REVENUE ACCOUNT-KINGSCLERE

2020 2019
£ £ £ £
Income
Gross rents receivable 14,596.41 9,678.16
Less: voids 0 0
14,596.41 9,678.16
Expenses
Management
Accountancy and Secretarial 744.50 706.92
Property insurance 180.32 187.22
Office and administration
expenses		 235.25 156.56
1,160.08 1,050.70
Services
Salaries 1,466.08 1,612.12
Water rates & council tax - -
Light and heat - -
Subscriptions 127.67 129.62
Sundries - 3.00
1,593.75 1,744.75
Repairs
Day to day maintenance 3,709.27 3,268.41
Provision for cyclical
maintenance		 - -
3,709.27 3,268.41
Total expenses 6,463.09 6,063.86
Surplus for the year 8,133.32 3,614.30

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KINGSCLERE ALMSHOUSES CHARITY

DETAILED STATEMENT OF FINANCIAL ACTIVITIES
for the year ended 31ST DECEMBER 2020
31.12.20 31.12.19
£ £
INCOME AND ENDOWMENTS
Investment income
Dividend Income 1,587 1,540
Charitable activities
Gross Rents Receivable 63,771 62,306
Total incoming resources 65,358 63,846
EXPENDITURE
Charitable activities
Wages 10,773 11,515
Sundries 1,416 1,146
Maintenance 41,628 40,466
Careline Expenses 870 2,689
Loan Interest 2,015 2,084
Freehold property 39,515 39,515
96,217 97,415
Support costs
Governance costs
Insurance 1,082 1,101
Accountancy and legal fees 2,978 2,862
Office and Admin costs 706 1,566
4,766 5,529
Total resources expended 100,983 102,944
Net expenditure before gains and losses (35,625) (39,098)
Realised recognised gains and losses
Realised gains/(losses) on fixed asset
investments (4,279) 6,314
Net expenditure (39,904) (32,784)

This page does not form part of the statutory financial statements

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