**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)**|
||||||
||||||
||||||
||||||
||||||
||||||
||||||
Page 16
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**|
||||||
||||||
||||||
||||||
||||||
||||||
||||||
Page 17
**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
Page 18