2022-12-31-accounts - Reverend Thomas Brown

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REGISTERED CHARITY NUMBER: 236411

REPORT OF THE TRUSTEES AND

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST DECEMBER 2022

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 2022

		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 2022

Trustees
	Almshouses Charity
	Co-official	Councillor Sue Adams
	Nominative Trustees	Mrs P Stewart - Chairman
		Mrs I 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 2022

The trustees present their report with the financial statements of the charity for the year ended 31st December 2022. 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:

To provide accommodation to poor persons resident in the parishes of Kingsclere and the ancient parish of Baughurst.
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 -£6,366 (2021 -£24,063) 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 £38,936 (2021 £38,590) 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 (2021 £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 £81,004 (2021 £87,193) 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.

STRUCTURE, GOVERNANCE AND MANAGEMENT

Governing document

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

Page 2

KINGSCLERE ALMSHOUSES CHARITY

REPORT OF THE TRUSTEES for the year ended 31ST DECEMBER 2022

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 2022.

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:

accounting records were not kept in respect of the Trust as required by Section 130 of the Act; or
the accounts do not accord with those records; or
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 FCA

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 2022

Notes INCOME AND ENDOWMENTS FROM Charitable activities Gross Rents Receivable Charitable Activities Investment income 2 Total EXPENDITURE ON Charitable activities 3 Gross Rents Receivable Charitable Activities Governance costs Total Net gains/(losses) on investments NET INCOME/(EXPENDITURE) Transfers between funds 16 Other recognised gains/(losses) Gains on revaluation of fixed assets Net movement in funds RECONCILIATION OF FUNDS Total funds brought forward TOTAL FUNDS CARRIED FORWARD	Unrestricted funds £ (4,636) 74,569 32 69,965 (300) 75,967 - 75,667 (133) (5,835) (700) - (6,535) 48,603 42,068	Designated Fund £ - - 1,688 1,688 - - - - (1,342) 346 - - 346 38,590 38,936	Endowment funds £ - - - - - 39,515 - 39,515 - (39,515) 700 894,936 856,121 1,292,692 2,148,813	31.12.22 Total funds £ (4,636) 74,569 1,720 71,653 (300) 115,482 - 115,182 (1,475) (45,004) - 894,936 849,932 1,379,885 2,229,817	31.12.21 Total funds £ - 57,515 1,304 58,819 - 114,646 5,838 120,484 3,970 (57,695) - - (57,695) 1,437,580 1,379,885

The notes form part of these financial statements

Page 5

KINGSCLERE ALMSHOUSES CHARITY

BALANCE SHEET

31ST DECEMBER 2022

Notes FIXED ASSETS Tangible assets 9 Investments 10 CURRENT ASSETS Debtors 11 Cash at bank and in hand 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	31.12.22 £ 2,161,000 45,199 2,206,199 76,612 55,538 132,150 (97,150) 35,000 2,241,199 (11,382) 2,229,817 81,004 2,148,813 2,229,817	31.12.21 £ 1,305,579 44,985 1,350,564 74,554 52,855 127,409 (85,901) 41,508 1,392,072 (12,187) 1,379,885 87,193 1,292,692 1,379,885

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 2022

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 2022

2. INVESTMENT INCOME

INVESTMENT INCOME
	31.12.22	31.12.21
	£	£
Dividend Income	1,720	1,304

3. CHARITABLE ACTIVITIES COSTS

	2022	2021

Salaries	11,606	11,170
Property running costs	-	-
Maintenance	55,310	57,846
Careline expenses	-	800
Other costs	546	3379
Loan interest	1,844	1,936
Depreciation	39,515	39,515
Bank interest	67

	108,888	114,646

4. TRUSTEES' REMUNERATION AND BENEFITS

There were no trustees' remuneration or other benefits for the year ended 31st December 2022 nor for the year ended 31st December 2021.

Trustees' expenses

There were no trustees' expenses paid for the year ended 31st December 2022 nor for the year ended 31st December 2021.

5. STAFF COSTS

	2022	2021
Staff costs
Clerk to the trustees	6,671	6,496
Warden	6,603	6,298
Employers National Insurance		-
Amounts recharged to The Welfare Charities	(1,668)	(1,624)

	11,606	11,170

The average monthly number of employees during the year was as follows:

	31.12.22	31.12.21
Clerk	1	1
Warden	1	1
	2	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 2022

6. COMPARATIVES FOR THE STATEMENT OF FINANCIAL Unrestricted funds £ INCOME AND ENDOWMENTS FROM Charitable activities Charitable Activities 57,515 Investment income 28 Total 57,543 EXPENDITURE ON Charitable activities Charitable Activities 75,131 Governance costs 5,838 Total 80,969 Net gains on investments 142 NET INCOME/(EXPENDITURE) (23,284) Transfers between funds (608) Net movement in funds (23,892) RECONCILIATION OF FUNDS Total funds brought forward 72,495 TOTAL FUNDS CARRIED FORWARD 48,603 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 57,515 Investment income 28 Total 57,543 EXPENDITURE ON Charitable activities Charitable Activities 75,131 Governance costs 5,838 Total 80,969 Net gains on investments 142 NET INCOME/(EXPENDITURE) (23,284) Transfers between funds (608) Net movement in funds (23,892) RECONCILIATION OF FUNDS Total funds brought forward 72,495 TOTAL FUNDS CARRIED FORWARD 48,603 7. GOVERNANCE COSTS Accountancy Office and administration expenses Property insurance	ACTIVITIES Designated Fund £ - 1,276 1,276 - - - 3,828 5,104 - 5,104 33,486 38,590	ACTIVITIES Designated Fund £ - 1,276 1,276 - - - 3,828 5,104 - 5,104 33,486 38,590	Endowment funds £ - - - 39,515 - 39,515 - (39,515) 608 (38,907) 1,331,599 1,292,692	Endowment funds £ - - - 39,515 - 39,515 - (39,515) 608 (38,907) 1,331,599 1,292,692	Total funds £ 57,515 1,304 58,819 114,646 5,838 120,484 3,970 (57,695) - (57,695) 1,437,580 1,379,885 2021 3,169 1,571 1,098 5,838


				2022
				2,298
				2,891
				1,105


				6,294

continued...

Page 9

KINGSCLERE ALMSHOUSES CHARITY

NOTES TO THE FINANCIAL STATEMENTS - continued for the year ended 31ST DECEMBER 2022

8. HOUSING ADMINISTRATION COSTS

Service income	Operating costs	Surplus/ (deficit)
69,933	-	69,933
-	(12,152)	(12,152)
-	(1,844)	(1,844)
-	(6,293)	(6,293)
-	(55,310)	(55,310)
-	-	-


69,933	75,599	(5,666)

		Freehold property £ 1,975,741 185,259 2,161,000 670,162 39,515 (709,677) - 2,161,000 1,305,579 Freehold property £ 1,844,992 185,259 130,749 2,161,000

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	180,537	99,218	279,755
Housing Grants	(149,006)	-	(149,006)

	31,531	99,218	130,749

continued...

Page 10

KINGSCLERE ALMSHOUSES CHARITY

NOTES TO THE FINANCIAL STATEMENTS - continued for the year ended 31ST DECEMBER 2022

9. TANGIBLE FIXED ASSETS - continued

The properties were revalued as at 31st December 2022 by Strutt & Parker who valued the properties on an existing use basis. If the properties had not been revalued the historical net book value would be £82,289 (2021: £84,904) net of housing grants.

10. FIXED ASSET INVESTMENTS

FIXED ASSET INVESTMENTS
	Listed
	investments
	£
MARKET VALUE
At 1st January 2022	44,985
Additions	1,689
Revaluations	(1,475)
At 31st December 2022	45,199
NET BOOK VALUE
At 31st December 2022	45,199
At 31st December 2021	44,985

There were no investment assets outside the UK.

Listed investments are revalued to market value each year.

11. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

11.	DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
		31.12.22	31.12.21
		£	£
	Other debtors	76,042	74,019
	Prepayments and accrued income	570	535
		76,612	74,554
12.	CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
		31.12.22	31.12.21
		£	£
	Bank loans and overdrafts (see note 14)	35,012	23,994
	Other creditors	62,138	61,907
		97,150	85,901

continued...

Page 11

KINGSCLERE ALMSHOUSES CHARITY

NOTES TO THE FINANCIAL STATEMENTS - continued for the year ended 31ST DECEMBER 2022

13.
CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
31.12.22
£
Other creditors
11,382
14.
LOANS
An analysis of the maturity of loans is given below:
31.12.22
£
Amounts falling due within one year on demand:
Bank overdrafts
35,012
Other loans
805
35,817
Amounts falling between one and two years:
Other loans - 1-2 years
926
Amounts falling due between two and five years:
Other loans - 2-5 years
10,456
15.
ANALYSIS OF NET ASSETS BETWEEN FUNDS
31.12.22
Unrestricted
Designated
Endowment
Total
funds
Fund
funds
funds
£
£
£
£
Fixed assets
-
-
2,161,000
2,161,000
Investments
1,008
44,191
-
45,199
Current assets
79,295
52,855
-
132,150
Current liabilities
(38,235)
(58,110)
(805)
(97,150)
Long term liabilities
-
-
(11,382)
(11,382)
42,068
38,936
2,148,813
2,229,817
16.
MOVEMENT IN FUNDS
Net
Transfers
movement
between
At 1.1.22
in funds
funds
£
£
£
Unrestricted funds
General fund
48,603
(5,835)
(700)
Designated Fund
38,590
346
-
87,193
(5,489)
(700)
Endowment funds
Endowment Fund
(1,123)
523,137
30,105
Endowment Revaluation Reserve
1,293,815
332,284
(29,405)
1,292,692
855,421
700
TOTAL FUNDS
1,379,885
849,932
-

31.12.21
£
12,187
31.12.21
£
23,994
700
24,694
805
11,382
31.12.21
Total
funds
£
1,305,579
44,985
127,409
(85,901)
(12,187)
1,379,885
At
31.12.22
£
42,068
38,936
81,004
552,119
1,596,694
2,148,813
2,229,817

continued...

Page 12

KINGSCLERE ALMSHOUSES CHARITY

NOTES TO THE FINANCIAL STATEMENTS - continued for the year ended 31ST DECEMBER 2022

16. MOVEMENT IN FUNDS - continued

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

Unrestricted funds General fund Designated Fund Endowment funds Endowment Fund Endowment Revaluation Reserve TOTAL FUNDS	Incoming resources £ 69,965 1,688 71,653 - - - 71,653	Resources expended £ (75,667) - (75,667) (39,515) - (39,515) (115,182)	Gains and Movement losses in funds £ £ (133) (5,835) (1,342) 346 (1,475) (5,489) 562,652 523,137 332,284 332,284 894,936 855,421 893,461 849,932

Comparatives for movement in funds

Unrestricted funds General fund Designated Fund Endowment funds Endowment Fund Endowment Revaluation Reserve TOTAL FUNDS	At 1.1.21 £ 72,495 33,486 105,981 8,379 1,323,220 1,331,599 1,437,580	Net movement in funds £ (23,284) 5,104 (18,180) (39,515) - (39,515) (57,695)	Transfers between funds £ (608) - (608) 30,013 (29,405) 608 -	At 31.12.21 £ 48,603 38,590 87,193 (1,123) 1,293,815 1,292,692 1,379,885

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 £ 57,543 1,276 58,819 - 58,819	Resources expended £ (80,969) - (80,969) (39,515) (120,484)	Gains and Movement losses in funds £ £ 142 (23,284) 3,828 5,104 3,970 (18,180) - (39,515) 3,970 (57,695)

continued...

Page 13

KINGSCLERE ALMSHOUSES CHARITY

NOTES TO THE FINANCIAL STATEMENTS - continued for the year ended 31ST DECEMBER 2022

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 1.1.21 £ 72,495 33,486 105,981 8,379 1,323,220 1,331,599 1,437,580	Net movement in funds £ (29,119) 5,450 (23,669) 483,622 332,284 815,906 792,237	Transfers between funds £ (1,308) - (1,308) 60,118 (58,810) 1,308 -	At 31.12.22 £ 42,068 38,936
				81,004 552,119 1,596,694
				2,148,813
				2,229,817

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 Endowment Revaluation Reserve TOTAL FUNDS	Incoming resources £ 127,508 2,964 130,472 - - - 130,472	Resources expended £ (156,636) - (156,636) (79,030) - (79,030) (235,666)	Gains and Movement losses in funds £ £ 9 (29,119) 2,486 5,450 2,495 (23,669) 562,652 483,622 332,284 332,284 894,936 815,906 897,431 792,237	Gains and Movement losses in funds £ £ 9 (29,119) 2,486 5,450 2,495 (23,669) 562,652 483,622 332,284 332,284 894,936 815,906 897,431 792,237
				(23,669) 483,622 332,284
				815,906
				792,237

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 2022 (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 2022

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 2022

18. PROPERTY REVENUE ACCOUNT-HEADLEY

	2022		2021
	£	£	£	£
Income
Gross rents receivable		61,040.36		50,129.08
Less: voids		-		-

		61,040.36		50,129.08

Expenses
Management
Accountancy and Secretarial	1,723.14		2,376.86
Property insurance	920.61		915.10
Office and administration expenses	1,927.38		1047.41

		4,571.13		4,339.37
Services
Salaries	9,937.89		9,546.00
Water rates	-		-
Light and heat	-		-
Grounds maintenance	5,530.96		5,275.00
Telephone	513.75		473.95
Subscriptions	-		-
Careline expenses			800.00
Sundries	32.48		2,905.29

		16,015.08		19,000.24
Repairs
Day to day maintenance	44,800.76		47,313.68
Provision for cyclical maintenance	-		-

		65,386.97		70,653.28
Financing
Loan interest		1,844.12		1,935.55

Total expenses		67,231.09		72,588.83

Trading surplus/(deficit) for the year		(6,190.73)		(22,459.75 )
Transfer to endowment fund-loan payment		699.88		608.45

Surplus/(deficit) for the year		(6,890.61)		(23,068.20 )

Page 16

continued...

KINGSCLERE ALMSHOUSES CHARITY

NOTES TO THE FINANCIAL STATEMENTS - continued for the year ended 31ST DECEMBER 2022

19. PROPERTY REVENUE ACCOUNT-KINGSCLERE

	2022		2021
	£	£	£	£
Income
Gross rents receivable		8,892.28		7,385.43
Less: voids		-		-

		8,892.28		7,385.43

Expenses
Management
Accountancy and Secretarial	574.38		792.29
Property insurance	184.12		183.02
Office and administration expenses	963.69		523.70

		1,722.19		1,499.01
Services
Salaries	1,667.79		1,624.00
Water rates & council tax	-		-
Light and heat	-		-
Subscriptions	-
Sundries	-		-

		1,667.79		1,624.00
Repairs
Day to day maintenance	4,977.86		5,257.08
Provision for cyclical maintenance	-		-

		4,977.86		5,257.08

Total expenses		8,367.84		8,380.09

Surplus for the year		524.44		(994.66)

Page 17

KINGSCLERE ALMSHOUSES CHARITY

DETAILED STATEMENT OF FINANCIAL ACTIVITIES
for the year ended 31ST DECEMBER 2022
	31.12.22	31.12.21
	£	£
INCOME AND ENDOWMENTS
Investment income
Dividend Income	1,720	1,304
Charitable activities
Gross Rents Receivable	69,933	57,515
Total incoming resources	71,653	58,819
EXPENDITURE
Charitable activities
Wages	11,606	11,170
Sundries	546	3,379
Maintenance	55,310	57,846
Careline Expenses	-	800
Loan Interest	1,844	1,936
Freehold property	39,515	39,515
Bank interest	67	-
	108,888	114,646
Support costs
Governance costs
Insurance	1,105	1,098
Accountancy and legal fees	2,298	3,169
Office and Admin costs	2,891	1,571
	6,294	5,838
Total resources expended	115,182	120,484
Net expenditure before gains and losses	(43,529)	(61,665)
Realised recognised gains and losses
Realised gains/(losses) on fixed asset investments	(1,475)	3,970
Net expenditure	(45,004)	(57,695)

This page does not form part of the statutory financial statements

Page 18