2023-12-31-accounts - Reverend Thomas Brown

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REGISTERED CHARITY NUMBER: 236411

REPORT OF THE TRUSTEES AND

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023

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 31 DECEMBER 2023

		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 31 DECEMBER 2023

Trustees
	Almshouses Charity
	Co-official	Councillor Sue Adams
	Nominative Trustees	P	Stewart
		I Powers
		Lucy Virtue - resigned 20/06/23
		Philip Crisford
		Nigel Chamings - appointed 20/06/23
	Co-optative Trustees	P	Dring - Vice Chairman
		Rev B Read - resigned 20/06/23
		Andrew Kitch
		Peter Eastwick- Field - Chairman
		Rev Pete Williams - appointed 01/05/23
	Robert Higham	P	Crisford - Chairman
		I Powers - Vice Chairman
	Welfare Charities	P	Eastwick-Field
		Councillor Sue Adams - Chairman
Clerk to the Trustees		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 31 DECEMBER 2023

The trustees present their report with the financial statements of the charity for the year ended 31 December 2023. 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 -£12,785 (2022 -£6,366) 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 £34,742 (2022 £38,936) 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 (2022 £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 £70,828 (2022 £81,004) 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 31 DECEMBER 2023

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 31 December 2023.

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 31 DECEMBER 2023

Notes INCOME AND ENDOWMENTS FROM Charitable activities Charitable Activities Investment income 2 Total EXPENDITURE ON Charitable activities 3 Charitable Activities 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 £ 71,782 29 71,811 83,826 93 (11,922) 5,940 - (5,982) 42,068 36,086	Designated Fund £ - 1,028 1,028 - 1,523 2,551 (6,745) - (4,194) 38,936 34,742	Endowment funds £ - - - 43,220 - (43,220) 805 - (42,415) 2,148,813 2,106,398	31.12.23 Total funds £ 71,782 1,057 72,839 127,046 1,616 (52,591) - - (52,591) 2,229,817 2,177,226	31.12.22 Total funds £ 69,933 1,720 71,653 115,182 (1,475) (45,004) - 894,936 849,932 1,379,885 2,229,817

The notes form part of these financial statements

Page 5

KINGSCLERE ALMSHOUSES CHARITY

BALANCE SHEET 31 DECEMBER 2023

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	31.12.23 £ 2,117,780 23,842 2,141,622 18,570 31,767 50,337 (4,277) 46,060 2,187,682 (10,456) 2,177,226 70,828 2,106,398 2,177,226	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

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 31 DECEMBER 2023

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 31 DECEMBER 2023

2. INVESTMENT INCOME

INVESTMENT INCOME
	31.12.23	31.12.22
	£	£
Dividend Income	1,057	1,720

3. CHARITABLE ACTIVITIES COSTS

	2023	2022

Salaries	15,792	11,606
Property running costs	-	-
Maintenance	53,068	55,310
Careline expenses	1,400	-
Other costs	1,046	546
Loan interest	1,739	1,844
Depreciation	43,220	39,515
Bank interest	65	67

	116,330	108,888

4. TRUSTEES' REMUNERATION AND BENEFITS

There were no trustees' remuneration or other benefits for the year ended 31 December 2023 nor for the year ended 31 December 2022.

Trustees' expenses

There were no trustees' expenses paid for the year ended 31 December 2023 nor for the year ended 31 December 2022.

5. STAFF COSTS

	2023	2022
Staff costs
Clerk to the trustees	8,316	6,671
Warden	8,319	6,603
Employers National Insurance		-
Amounts recharged to The Welfare Charities	(832)	(1,668)

	15,803	11,606

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

	31.12.23	31.12.22
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 31 DECEMBER 2023

6. COMPARATIVES FOR THE STATEMENT OF FINANCIAL Unrestricted funds £ INCOME AND ENDOWMENTS FROM Charitable activities Charitable Activities 69,933 Investment income 32 Total 69,965 EXPENDITURE ON Charitable activities Charitable Activities 75,667 Net gains/(losses) on investments (133) NET INCOME/(EXPENDITURE) (5,835) Transfers between funds (700) Other recognised gains/(losses) Gains on revaluation of fixed assets - Net movement in funds (6,535) RECONCILIATION OF FUNDS Total funds brought forward 48,603 TOTAL FUNDS CARRIED FORWARD 42,068 7. GOVERNANCE COSTS Accountancy and legal fees Office and administration expenses Property insurance	6. COMPARATIVES FOR THE STATEMENT OF FINANCIAL Unrestricted funds £ INCOME AND ENDOWMENTS FROM Charitable activities Charitable Activities 69,933 Investment income 32 Total 69,965 EXPENDITURE ON Charitable activities Charitable Activities 75,667 Net gains/(losses) on investments (133) NET INCOME/(EXPENDITURE) (5,835) Transfers between funds (700) Other recognised gains/(losses) Gains on revaluation of fixed assets - Net movement in funds (6,535) RECONCILIATION OF FUNDS Total funds brought forward 48,603 TOTAL FUNDS CARRIED FORWARD 42,068 7. GOVERNANCE COSTS Accountancy and legal fees Office and administration expenses Property insurance	ACTIVITIES Designated Fund £ - 1,688 1,688 - (1,342) 346 - - 346 38,590 38,936	ACTIVITIES Designated Fund £ - 1,688 1,688 - (1,342) 346 - - 346 38,590 38,936	Endowment funds £ - - - 39,515 - (39,515) 700 894,936 856,121 1,292,692 2,148,813	Endowment funds £ - - - 39,515 - (39,515) 700 894,936 856,121 1,292,692 2,148,813	Total funds £ 69,933 1,720 71,653 115,182 (1,475) (45,004) - 894,936 849,932 1,379,885 2,229,817 2022 2,298 2,891 1,105 6,294


				2023
				8,890
				200
				1,626


				10,716

continued...

Page 9

KINGSCLERE ALMSHOUSES CHARITY

NOTES TO THE FINANCIAL STATEMENTS - continued for the year ended 31 DECEMBER 2023

8. HOUSING ADMINISTRATION COSTS

Service income	Operating costs	Surplus/ (deficit)
71,782	-	71,782
-	(18,238)	(18,238)
-	(1,739)	(1,739)
-	(10,717)	(10,717)
-	(53,068)	(53,068)
-	-	-

71,782	83,762	(11,980)

TANGIBLE FIXED ASSETS
COST OR VALUATION At 1 January 2023 and 31 December 2023 DEPRECIATION Charge for year NET BOOK VALUE At 31 December 2023 At 31 December 2022	Freehold property £ 2,161,000
	43,220
	2,117,780
	2,161,000

Cost or valuation at 31 December 2023 is represented by:

Valuation in 2005 Valuation in 2022 Cost	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

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 £79,674 (2022: £82,289) net of housing grants.

continued...

Page 10

KINGSCLERE ALMSHOUSES CHARITY

NOTES TO THE FINANCIAL STATEMENTS - continued for the year ended 31 DECEMBER 2023

10. FIXED ASSET INVESTMENTS

10.	FIXED ASSET INVESTMENTS
			Listed
			investments
			£
	MARKET VALUE
	At 1 January 2023		45,199
	Additions		1,027
	Disposals		(22,779)
	Revaluations		395
	At 31 December 2023		23,842
	NET BOOK VALUE
	At 31 December 2023		23,842
	At 31 December 2022		45,199
	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
		31.12.23	31.12.22
		£	£
	Other debtors	17,569	76,042
	Prepayments and accrued income	1,001	570
		18,570	76,612
12.	CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
		31.12.23	31.12.22
		£	£
	Bank loans and overdrafts (see note 14)	-	35,012
	Other creditors	4,277	62,138
		4,277	97,150

continued...

Page 11

KINGSCLERE ALMSHOUSES CHARITY

NOTES TO THE FINANCIAL STATEMENTS - continued for the year ended 31 DECEMBER 2023

13.
CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
31.12.23
£
Other creditors
10,456
14.
LOANS
An analysis of the maturity of loans is given below:
31.12.23
£
Amounts falling due within one year on demand:
Bank overdrafts
-
Other loans
926
926
Amounts falling between one and two years:
Other loans - 1-2 years
1,065
Amounts falling due between two and five years:
Other loans - 2-5 years
9,391
15.
ANALYSIS OF NET ASSETS BETWEEN FUNDS
31.12.23
Unrestricted
Designated
Endowment
Total
funds
Fund
funds
funds
£
£
£
£
Fixed assets
-
-
2,117,780
2,117,780
Investments
1,100
22,742
-
23,842
Current assets
38,337
12,000
-
50,337
Current liabilities
(3,351)
-
(926)
(4,277)
Long term liabilities
-
-
(10,456)
(10,456)
36,086
34,742
2,106,398
2,177,226
16.
MOVEMENT IN FUNDS
Net
Transfers
movement
between
At 1.1.23
in funds
funds
£
£
£
Unrestricted funds
General fund
42,068
(11,922)
5,940
Designated Fund
38,936
2,551
(6,745)
81,004
(9,371)
(805)
Endowment funds
Endowment Fund
552,119
(43,220)
32,739
Endowment Revaluation Reserve
1,596,694
-
(31,934)
2,148,813
(43,220)
805
TOTAL FUNDS
2,229,817
(52,591)
-

31.12.22
£
11,382
31.12.22
£
35,012
805
35,817
926
10,456
31.12.22
Total
funds
£
2,161,000
45,199
132,150
(97,150)
(11,382)
2,229,817
At
31.12.23
£
36,086
34,742
70,828
541,638
1,564,760
2,106,398
2,177,226

continued...

Page 12

KINGSCLERE ALMSHOUSES CHARITY

NOTES TO THE FINANCIAL STATEMENTS - continued for the year ended 31 DECEMBER 2023

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	71,811	(83,826)	93	(11,922)
Designated Fund	1,028	-	1,523	2,551
	72,839	(83,826)	1,616	(9,371)
Endowment funds
Endowment Fund	-	(43,220)	-	(43,220)
TOTAL FUNDS	72,839	(127,046)	1,616	(52,591)
Comparatives for movement in funds
		Net	Transfers
		movement	between	At
	At 1.1.22	in funds	funds	31.12.22
	£	£	£	£
Unrestricted funds
General fund	48,603	(5,835)	(700)	42,068
Designated Fund	38,590	346	-	38,936
	87,193	(5,489)	(700)	81,004
Endowment funds
Endowment Fund	(1,123)	523,137	30,105	552,119
Endowment Revaluation Reserve	1,293,815	332,284	(29,405)	1,596,694
	1,292,692	855,421	700	2,148,813
TOTAL FUNDS	1,379,885	849,932	-	2,229,817

Comparative 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

continued...

Page 13

KINGSCLERE ALMSHOUSES CHARITY

NOTES TO THE FINANCIAL STATEMENTS - continued for the year ended 31 DECEMBER 2023

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 1.1.22 £ 48,603 38,590 87,193 (1,123) 1,293,815 1,292,692 1,379,885	Net movement in funds £ (17,757) 2,897 (14,860) 479,917 332,284 812,201 797,341	Transfers between funds £ 5,240 (6,745) (1,505) 62,844 (61,339) 1,505 -	At 31.12.23 £ 36,086 34,742
				70,828 541,638 1,564,760
				2,106,398
				2,177,226

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 £ 141,776 2,716 144,492 - - - 144,492	Resources expended £ (159,493) - (159,493) (82,735) - (82,735) (242,228)	Gains and Movement losses in funds £ £ (40) (17,757) 181 2,897 141 (14,860) 562,652 479,917 332,284 332,284 894,936 812,201 895,077 797,341	Gains and Movement losses in funds £ £ (40) (17,757) 181 2,897 141 (14,860) 562,652 479,917 332,284 332,284 894,936 812,201 895,077 797,341
				(14,860) 479,917 332,284
				812,201
				797,341

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 31 DECEMBER 2023

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 31 DECEMBER 2023

18. PROPERTY REVENUE ACCOUNT-HEADLEY

	2023		2022
	£	£	£	£
Income
Gross rents receivable		63,203.97		61,040.36
Less: voids		-		-

		63,203.97		61,040.36

Expenses
Management
Accountancy and Secretarial	6,667.85		1,723.14
Property insurance	1,355.34		920.61
Office and administration expenses	133.30		1,927.38

		8,156.49		4,571.13
Services
Salaries	14,128.78		9,937.89
Water rates	-		-
Light and heat	-		-
Grounds maintenance	5,306.78		5,530.96
Telephone	538.44		513.75
Subscriptions	-		-
Careline expenses	1,400.00		-
Sundries	507.50		32.48

		21,881.50		16,015.08
Repairs
Day to day maintenance	42,984.90		44,800.76
Provision for cyclical maintenance	-		-

		73,022.89		65,386.97
Financing
Loan interest		1,738.96		1,844.12

Total expenses		74,761.85		67,231.09

Trading surplus/(deficit) for the year		(11,557.88 )		(6,190.73)
Transfer to endowment fund-loan payment		805.04		699.88

Surplus/(deficit) for the year		(12,362.92 )		(6,890.61)

Page 16

continued...

KINGSCLERE ALMSHOUSES CHARITY

NOTES TO THE FINANCIAL STATEMENTS - continued for the year ended 31 DECEMBER 2023

19. PROPERTY REVENUE ACCOUNT-KINGSCLERE

	2023		2022
	£	£	£	£
Income
Gross rents receivable		8,577.61		8,892.28
Less: voids		-		-

		8,577.61		8,892.28

Expenses
Management
Accountancy and Secretarial	2,222.62		574.38
Property insurance	271.07		184.12
Office and administration expenses	66.65		963.69

		2,560.34		1,722.19
Services
Salaries	1,663.10		1,667.79
Water rates & council tax	-		-
Light and heat	-		-
Subscriptions	-
Sundries	-		-

		1,666.10		1,667.79
Repairs
Day to day maintenance	4,776.10		4,977.86
Provision for cyclical maintenance	-		-

		4,776.10		4,977.86

Total expenses		8,999.54		8,367.84

Surplus/(deficit) for the year		(421.93)		524.44

Page 17

KINGSCLERE ALMSHOUSES CHARITY

DETAILED STATEMENT OF FINANCIAL ACTIVITIES for the year ended 31 DECEMBER 2023

	31.12.23	31.12.22
	£	£
INCOME AND ENDOWMENTS
Investment income
Dividend Income	1,057	1,720
Charitable activities
Gross Rents Receivable	71,782	69,933
Total incoming resources	72,839	71,653
EXPENDITURE
Charitable activities
Wages	15,792	11,606
Sundries	1,046	546
Maintenance	53,068	55,310
Careline Expenses	1,400	-
Loan Interest	1,739	1,844
Freehold property	43,220	39,515
Bank interest	65	67
	116,330	108,888
Support costs
Governance costs
Insurance	1,626	1,105
Accountancy and legal fees	8,890	2,298
Office and Admin costs	200	2,891
	10,716	6,294
Total resources expended	127,046	115,182
Net expenditure before gains and losses	(54,207)	(43,529)
Realised recognised gains and losses
Realised gains/(losses) on fixed asset investments	1,616	(1,475)
Net expenditure	(52,591)	(45,004)

This page does not form part of the statutory financial statements

Page 18