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2021-12-31-accounts

Charlty Number: 236424 Regulator of Soclal Housln8 Registratlon Number,. A0746 Almshouse Associatlon Member Number: 0203 Rogers, Almshouses Report and Flnancial Statements Forthe year ended 31 December2021

Rogers, Almshouses Report and Financial Statements For the year ended 31 December 2021 Contènts Pa8e Trustees, Registered Office and Advisers Report of the Trustees Independent Auditorfs RepDrl 10-12 statement of Financial Activitles 13 Balance Sheet 14 Statement of Cash Flow5 Is Notes to the Financial Statement5 16-23

Rogers, Almshouses Trustees, Reglstered Offlce and Advisers Fortheyear ended 31 December2021 Tfustees: Mr S Holland (Chairl The Very Reverend J lepine Mr5 J Simpson Reverend M S Evans The Reverend A Garrow Mr M Wright Mr A Kempston-Parkes MrA MePhee Mr P Foskett hlls M Start (resigned 25 May 20211 (appointed 19 January 20221 Reglstèred Office., Crown Chambers Prlntes Street Harfogate HGI INI Req15tered Number: Ch3rlty.' 236424 Regulator of Social Houslng IRSHI.. A0746 Almshouse Association Member Number.. 0203 External Audltors.. Beever arTrd Struthers Statutory Auditor St Geoirge's House 215-219 Chester Road Manchester M154JE Bankers,. CAF Bank 25 Klngs Hlll Avenue West Malling Kent ME19 4JQ Virgin Money 21 James Street Harrogate North Yorkshlre HGI IQU

Rogers, Almshouses Report of the Trustees For the year ended 31 December 20ZI Ac¢ounts The Trustees presenl their annual report and the audlted financial statements for the year ended 31 December 2021. Objectlves and publlc beneflt The Charlty Is an unincorporated Charity registered in England and Wales INumber 2364241, a member of the National Almshouse Assocl3tÉon (Mumber 02031 and Is reglstered wlth the Regulato¥ of Social Houslng IRegistration Number A07461. In setting the oblectlves and planning the activities of the Charily for the year, the Trustees have glven careful consideration tts rhÈ Charity Commission's general guidan￿ on public benefit. The Charity has pursuEd the principal object for which it Wa5 established, namely the provlsion of accommodation for the qualifying people tsf Bradford and Harrogate and the Trusieès are satisfied that ihe Charity dellvers tharitable activities for publlc bènefit. On 18 October 2019, the Charitycommlsslon ordered that a new Scherne would applyto vary the existlng Scheme dated 1989. The effect of the new Scherre is to modelnise the rules of the Charity, adjust the age ran8e that the Charlty can support, widen thè gèographical area from where applicants could apply for accommodation and to give Trustees wider authority to make their own rules. The Trustees bèlieve these amendments will enable them to develop the Charity, bullding on the core values la￿ down by the founder, Mr George Aogers, In 1868. Management and admlnlstration of the Char5tv The Charity is managed by a board of Tnjstees providing legal, fin3ndal, building, property management and pastoral Property maintenance and repairs have been managed by 3 local Estate Agent, Verity Ffearson. Accountin8 support has been provlded by Lithgow Perkins, Chartered Accountants. Thls has included the production of an annual budget and quarterly accountin8 reports, A part time administrator is employed to support the Trustees, be a first ptrlnt of contact with resldents and to deal with general administration. Trustees contlnue to meet at least three times a year for formal meetinEs and meei a5 'Working Group" between meetillgs to take foyward the strateBiC plans of the Trustees. Resldents Rogers, Almshouses is both a charity and an organisation11sted on the Natltsnal Register of Social Housing. It provides fifteen units of accommodation, thirteen two storey houses and two bungalows, for people over sixty years of age who Ilve within the Metropolitan District of Bradford or Harrogate Dlstrlct. When making declsions about the appointrnents to a vacancy, the Trustees malntain a balance between residents who came originally from Bradford and residents from Harrogate. Tc* this end, separate lists of applicants are drawn up. Trustee5 have tried to ensure that vacancles are 211ocated to the appllcant most in need of the accommodation at the time that they occtjr.

Rogers. Almshouse5 Report of the Trustee$ For the year ended 31 December 2021 REsidents Icontlnuedl Sadly. one re51dent pa552d away durlng the year aftera short Illness le8vlng her property V?C3nt. Another property becam& vaiant after the two re5ident5 moved to another resldence. Due to the Covid p8ndemlc thai prevalled Irom SprlTrg 2020 to Winter 2Q22, meetln65 wlth resldents and the annual lunch were unable to go ahead. However, to mark the completlon of bullding works that provlded two renovated propertie5 and one addlllonal prO￿rtY by converslon of Én ¢)Id lauTrdryi 4 special openlng event was held. Thls event VJI5 4ttended by residents, the Mayor and Mayore55 Of the Borough of Harrogite, rePr￿entatIveS of H8rrogatÈ 8tsrough Councll, Hoine5 England and Sèffer Cooper. The Tm5tees take an 8Ctive Interest in the health Ènd wellbelng ol the r￿IdentS. Two Truslees undertake regutsr vlsits to each resident. A thlrdTrustee was ￿truIted durlng the yearto assist with pastoral aspects. Whllst vlslts wÈrÈ prohibited durin8 Covid. telephone calls were made to iesident5 on a regulai b3S15 to check on thelr wÈllbelng. No care Is provlded by the Charltv. TheTrustees are aware of the government whlte paper, A Ch3rtet for Sotial Ftousing Residents, and wlll actfvely pursue the relevant provislons in 50 faras they relate to ilmshouses, Propertv The gardens have been m2Intalned throughout thè year and continue to glve much pleasure ro resldents as well as providlng a haven for butterftie5 and 5eed5 for bird5 well into the winter months. The Trustees formallsed thelr arrangement wlth $8ffer CoDper to provlde specl3115t help obt3lnlng grant ald from Homes England. Plannlng consent was finally SeCu￿d for re4evelopment plèTrs to three propertles and buildlng work5 cafflmenced In Spring 2021 and were completed In September 2Q21 with the formal openlng referred to above In October 2021, Three new resldents were provlded wlth homes during November 2021. A vaeant property Is to be refurblshed In 2022. Trustees are consIde￿n¥ 8ltÈrnÈtive ¢ptions and are to Seek grant ald from Home5 Englarsd towards the cost. Trustees The Trustees in office durlngthe year are listed on page l. The ma%imum numberofTrustees permltted Underthe sthÈme of arrangement is 12, Of these three are Ex-officio and seven are cO￿pted, The current number of Trustees Is nlne, an Increaseof two slrsce 2017. Durin8 the yEar one Trystee retired and one was Invlted to loln the board of Trustees. Having aEreed chèThge5 lo the rvles of the Charity with the Charlty Commlssloners, the Twste25 are now focusnE on developing the Charity. A strateglc plan)inE day WÈS held during the Sprlng of 2022 to provlde a clear fiKUS for development.

Rogers, Almshouses Report of the Trustee5 For the year ended 31 December 2021 Charges The Tr¢JstEes set a weekly maintenance charge at a level which is expected to meet the day to day running costs of the Almshouses and grounds, Includlng the cost of cycllcal maintenance and malor repairs expenditvre. As a Housing Associatlon the Charity is alsLTr required to operate within the guidance on rent setting p¥ovided by the Minlstry of Housing, Communities and Local Government, which limits the maximum amount to be charged and the annual Increases In rent. The weekly malntenan¢e charge was Incieased in line with allowable charges. Flxed assets The changes in fixed a55et5 durin8 the year are Set out in note 11 of the finanual statements. Politlcal and charitable donatlon5 Durlng the year the Charlty made no politlcal or charltable donation5. Format of accounts Rogers, Almshouses Is a reglstered provlder of houslng as well as a re£i5tered almshouse charliy, Hawing reached a deeision on the future strateglc dlrectlt)n as an Indepèndent charity the Trustees have determined that it is appropriate for the accounts lo be prepared under the Charitie5 Statement of Recommended Practice IFRS 1021. Value for monev The Charity'5 definition of value for money is simple, it aims to deliver its oblectlvÈs in the most C05t-elfectlve way possible but ensurin8 that it provides quality homes and servi￿$ that help its residents remain independent. The slze of the Charity, at only 15 unlts, makes comparisort against others difficult, especially as the Regulator does not capture or publish any information on a5S0Ci3tions with le55 than 1,000 properties. Very few associations the size of thè Charlty subscribe to benchmarking clubs as the costs outweigh the benefits and are not therefore consldered value for money. The Charity prides itself on meeting the needs of its residents wherever possSble. This includes installing disabled adaptations even where no exteinal funding is available. This increases the repairs costs but reflects the purpose of the Charity which is to provide accommodation to older persons of Ilmlted means. By adoptlng this approa¢h residents are able to continue to live indepefidently and low levels of voids occur. All the properties owned by ihe Charity are in one location within close Walk￿llE distance of the town centre and other amenities. They are well maintained15upported by a stock condltion survey undertaken during 20171 and are easy to let. The Trustees have not identified any individual properly which is not adding to the surplus beln8 generated. The nature of the almshouses Is suth that the dlsposal of an individual property would not be worthwhlle and would potentially Imp3Ct significantly on the envlrtsnment created by the scheme. We are required tci calculate and report certain financial metilcs for Rogers, Almshouse5 which are widely regarded as measures of value for money. In addltlon. we are requlred lo show how those metrics cornpare with our Dwtj targets and with an 8pproprlate comparator social housing provlder entity. Set out below is a table which iecords those metrics calculated usin8 Ro8ers Almshouses, results for each of the last three flnanclal years. The table also shows targets for those metrics calculated using the Rogers Almshouses, budgets for the 2022 and 2021 calendar year.

Rogers, Almshouses Report of the Trustees For the year ended 31 December 2021 Value for money Icontlnuedl Publlshed data lo use as a comparator Is difflcult tD find,. the only published data available is for reglstered providers with between 1,000 and 2,500 residentSal unlts as reported in the annex to the Regulator of Social Hou5in£'s Global Accounts. We have only 15 resldentl31 units and therefore comparison wilh that published data is likely to be, at best, hard to Interpret and, at worst, misleading. We have obtained a summary of the metrics as disclosed in the approved accounts to 31 December 2020 or 31 March 2021 OF 16 smaller registered providers. The latter set of metrlcs are, in our vlew, the closest comparator against whlch to report our metrics and consequently the table below shows the median and mean metilc results for thal group of Registered Providers as a comparator to our reported metrics. Value for money I'VFM'I metdcs Artual 2021 Attual 2020 Aaual 2019 T3riet 2022 Tart¢t 1021 SEthr Median Se<tor Mean Relnwestment % New supply delivered Isoclal hou51ng unltsl % New supply dellvered l Non-soclal h¢using Un￿$) % 48.6% 7.1% 0.0% 3.0% 6&6% 7.1% 1.4% 0.0% 3.8% 0.6% 0.0% No debt No debt No debt No debr No debt No debt No debt Ng debt No debt No debt 141% 526% 181% 16 EBITDA MRI Interest Cover% e3dllne stytlal housing cost per unit £ 3,455 É 2,905 £ J,680 e 3,805 £ 4,150 Operatlng Margln150cial housins leltln8s only1% Operatlng Maigin loveralll96 12.21% 12.21% 28.2% 3.2% 3.2% 6.7% 6.7 6.2% 6.2% 27.1% 2&2% 22.6% 29.7% 28.2% Return Dn ca ital em ROCEI % 0.21% 0.3% Q6% 0.6% 4.1% The VFM metrics record the development of an additional residenee at the existing Almshouse sile as noted earlier In this ¥eport. As a result, we have increased our unlts from 14 to 1513 7.1% increase) at a c05t of appromimately £235,000 whleh Is 48.6% of the reported value of the Charil¥5 existing fixed assets. Please note, the value 'of the existing propertles is, the Trustees belleve, ctsnslderably In exce55 of the cost value ¥eported in the Charlltys balance sheet. The geartng and operational metTiCS clearly show that Rogèrs, Almshouses is a small entity with some unlque charactèristics within the social housing seclor. We have no borrowings and therefore pay no interest chargés, nor do we have any financial covenants which might otherwise encumber our financial freedom. Further, no Trustee re￿iVeS any rernuneration for the work whl¢h they undertake on behalf of the Charity. As a result of these financial characteristics, the Trustees are able to keep the Charity's operatlng costs io a mlnlmum de5Plte the fact that it5 small size relative to Its comparator5 denies it many opportunities for economles of scale. The small size of the Charity does, however, efiable the Trustees to enjoy a tloser connection with the residènts and a better understanding of their concerr15 and needs. The Tiustees have chosen to prioritise the quality of the accommodatltsn offered to the r8sidents which might be eKpected to push the headline cost per unlt to 8 Yalue above the secior averages. The fact that the c05t per unit is below average for the sector and has been delivered with savings on the budget for the year is seen by the Trustees as evidence that the savings achieved through offering their services at no cogt are ploughed back into an improved experience for residents. The small ne8ative operatiri8 margin and return on capltal employed is clearly low by comparison with the sector to whleh It belongs and is acknowledged by the Trustees. The Truslees believe the small margins are the result of positive decisions they have taken to improve the quBllty of the accommodation they provide. In 2021 the margin and ROCE were materially impacted by void periods suffered while substantial upgrade work was undertakèn In those units and the accelerated depreciation c95ts taken for assets disposed of as part of the development work. The Tr¢Jstees have takèn the prudent view that, in 2022, the margin will Improve but still fall short of the secto¥ averages until the ongolng upgrade Wofk reaches a conclusion.

Rogers, Almshouses Report of the Trustees For the yearended 310ecember 2021 Value foy money l¢ontinued} The flnancial taigets foi the 2022 calendar year are drawn from the budget app¥oved by the Trustees for thar year and see a broad contlnuation of the exlstlng Mètrics. The Trustees are currently ¢onsidering the next stage ill their development progyamme amd no firm plans have been agreed and therefore no reinvestment plan Is reported in the above table. Reserves Any surplu5 of incorne over expenditure Is added to reserves. The results for the year are set out in the nnanclal statements on pages 13 to 23. During the year the Charity reported net income of £134,81012(120'. net income 01 £9,1071 which includes £30,774 increase12020.. £19,6Y7 decrease) In the value of investments and the receipt of a Homes England Grant of £95,000 to part fund the development of a new resldence, 43, at the Almshouses slte. As a result, total reserves grew to £891,666. The Trustees have determined that sufficient reserves should bè rÈtained by the charity In Drder to fund a minimum of slx months expet)diture. Budgeted expenditure for the year to 310ecember 2022 is £61,125, consequently Ihe Trustee% are satisfied that the retained reservès of £891,666 comfortably exceed the minimum balance of E30,563. £105,249 are regarded as flee reserves, after allowirig for funds tied up in tangible fixed assets. Investments The Trustees set aside funds in order tts flnance future planned expendlture and to provide a contingency agalnst future unforeseen eKpenditure. These fund5 set aside are converted into lower rlsk Investments which are capable of recovery as liquld funds within a maximum of two weeks and provide the best Fiosslble return for the low risk assumed. To the extent that funds are held by the charity in excess of thèse rÈ4uirèments, the Trustees seek to invest those funds In order to further the aims of the charity, following ihe spirit of the original alms of Mr George Rogers. The performance of those investments is reviewed by the Tiustees on a quarterly basis. Malntenance A property survey was ¢3rried out at the end of 2017. The survey dld not Identify any major work that was required to be undertaken. The Trustees will continue to monitor the condition of the properties and deal wlth repairs and replacements as necessary The Tru5tee5 intend to ensure that the Almshouses continue to mè8t the needs of resldents by maintaining them to a high standard and, where possible, adaptlng them to suit the needs of indlvldual rèsident5 as their circumstances change. The Tiustees are confldent that thè Almshouses will continue to provide cornfortable homes for the iesidents for the loreseeable future and they are satlsfied that the level of reserve5 15 adequate to meet the ongolng maintenance

Rogers, Almshouses Report of the Trustees For the year ended 31 Decernber 2021 Statement of the Trustees, respon5ibillties in respect of the financlal statèmènts The Trustees Bre responsible for pweparing the Tru5tees' Annual Report and the financial statements in 4ccordance with applicable law and United Kingdom AccountSng Standards Iunited Kin8dom Generally Accepted Accounting Practice). The law appllcable to charities In England and Wales requires the Trustees to prepare flnancial statements for ea¢h flnanclal year whld) glvè a true and f31r view of the state of affairs of the Charlty and of the incoming resources and applicatlon of resources of the Charity for that period. In preparlng these financlal statements, the Trustees are required io- Select suitable accounting policie5 and then apply them consistently,. Observe the methods and princlples in the Statement of Recommended Practice applicable to Charities preparing their accounts In accordance wlth Flnancial Reporting Standard appllcable in the UK and Republic of Ireland IFRS 1021., Makeludgernents and estimates that are reasonable and prudent; Prepare the financial statements on the going concern basis unless it is Inapproprlate tg presume that the Charity wlll conlinue In business. n)e Trustees are responsible for keeping proper accounting records that are Sufficient to show and explain the Charitsls transactions and disclose with reasonable accuracy at any time the flttancial position of the Charlty and enable them to ensure that the financlal statements comply with the Charities Act 2011, the Housing and Regeneration Act 2008 and the Accounting Dlrettlon for Private Registèred Providers of Social Housing 2020. They are also responslble for safeguarding the a55ets of the Charity and hence for taking reasonable Steps for the prevention and detettlon of fraud and other irregularities. The Trustees are responslble for the maintenance and integrity of the corporate and financial informatlon Includèd on the Charit¢s website. Legislation in the United Kingdom governing the prèparation and dlssemination of financlal statements may differ from legislation in other jurisdictions. Dlsclosure of Informatlon to Audltors The Trustees who held office at the date of approval of this Report confiim that, so far as they are each aware, there is no relevant audit inforrnation of which the Charitvs audltors are unaware., and each Trustee has taken all the steps that they Ought to have taken as a Trustee to make themselves aware of any relevant audlt Snformation and to establish that the Charity's audltors are awére of that Informatlon.

Rogers, Almshouses Report of the Trustees Forthe year ended 31 December 2021 Statement on the Charlfy'5 System of Internal control The Trustees acknowledge their overall responslblllty, for establlshlng and malntalnlng the whole system of internal control and for reviewing annually its effeclivene5S. The Trustees recognlgè that no systèm of internal control can prcvlde absolute assurancÉ or Éllmlnate all risk. The system of internal control is designed to mana8e risk, and to provide reasonable assurance that the key business objectives and expected outcome5 will be achieved. It also exists to give reasonable assurance about the preparation and feliability of financial and operational information and the safeguarding of the Charity's assets and interests. In meeting Its responslbilities, the Trustees have adcpted a risk-based èpproach to internal controls, whlch are embedded withln the normal management and governance prckcess. This approach includes the regular evaluation of the nature and extent of risks to which the Charity is exposed and is conslstent with principles incorporated In guldance. The process adopted by the Trustees In revlewlng the effecllveness of the system of internal control, togeiher wlth some of the key elements of the control framework in¢ludes'. Identlflcatlon and evaluation of key rlsks Responsibility has been clearly defined for the identification, evaluation and control of significant risks. There Is an ongoing process of revlew by the Trustees in each area of the Charity's activities. The results contlnue to be revlewed by the Trustees on a regular basls. Monltorln8 and correctlve actlon The Trustees are iesponsible for ensurinE the process of contrctl through sell-assessment Is effettlve and that reportlng on control issues providès a%sur3nce to the Trustees. This includes 3 procedure for ensuring that effèctivè monlioring is in place and that corrective aclion is taken in relatltsn to any significant control issue5, Particularly those with a material Impact on the financial statements. Control environment and ¢ontrol procedures The Trustees retaln responsibillty for a defined range of issue5 covering strategic, operational, linancial, and compliance Issues Includlng treasury strateEV and new investment projects. Policies and procedures cover such issues as delegated uthority, segrègatlon of dutles, accountin& treasury management, health and safety, data and asset protectlon and fraud prevention and detection. Informatlon and flnanclal reportlnB Systems Financial reporting procedure5 include detailed budgets for the year ahead. These are reviewed and approved by the Trustees. The Trustees a150 review key pérformance indlcators regularly to 8ssess progress iowardg the achievement of key buslness objectives, targets and outcome5. Auditors A resolution to re-appoint Beever and Struthers as the Charltws èudltors, wlll be proposed at the Annual Geneial Meetlng.

Rogers, Almshouses Report of the Trustees For the year ended 31 December 2021 Governance The Trustee5 have adopted the Charlty Commission's Good Govemance Code and abide by It5 principles, The Trustees confifm that the Charity complles with the Regulator of Social Housing's Governante and Financial Viability Standa¥d. Management Day to day rèsponsiblllty for management of the Almshouses and Implementatlon of pollcy set by the Trustees is ndertaken with the assistance of Verity Ffearson, Chèrtered SurveyoFS, Lithgow Perkins, Chartered Accountants provide accounting support and ensure payments are made in a timely fashion to suppliers. A part time administfator also provides support to the Trustees. As Chairman Df the Tr4TStee5,1 would like to record my appreciation of the support and hard work of my fellow Trustees, our administrator and accountant in ensuring that the Charity moves forward in a way of whlch I belleve our founder would be proud. l also record appreciation of the Trustees for the help and support given by Saffer Cooper to enable building works to be completed wlth substantial grant aid, leaving good reserves for future improvements. Approvèd by the Trustees on 8 June 2022 Mr S C Holland Chalrman

Independent Audltor's Report to the members of Ro8ers' Almshouses We have audited the financial statements of Rogers, Almshouses "the charity" for the year ended 31 December 2021 whlch comprise the Statement of Financlal Aclivlties, the Balance Sheet, the Cash Flow Statement and the related notes. The flnaneial reportlng framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, Including FRS 102'Yhe Flnantlal Reporting Standard applic3ble in the UK and Republic of Ireland" Iunlted Kln8dom Gene¥ally Accepted Accounting Practicel. We have been appolnted as audltor under section 144 of the Charities Act 2011 and report in accordance with the Act and relevant regulations made or havlng èffect thereunder. In our opinion, the linanclal statements.. glve a true and Falr vlew of the state of the charity's affair5 as at 31 December 2021 ènd of its incoming resources and application of resourtÈs, Including it5 income and expenditttre for ihe year then ended,. have been properly prepared in accordance with Unlted Klngdom Generally Accepted Accountlng Practicè and have been prepared accordance with the requirements of Charities Act 2011, the Housing and Regeneratlon Act 2008 and the Accounting Direction for Private Registered Pioviders of Social Housing 2019, Basls for oplnlon We condu¢led our audit in accordance with International Standards on auditing IUKI IISAS IVKII and applicable law. Our responsibilities under those standards are fuither described in the Audltor's responsibilities for the a￿dIt of the financial statements seclion of our reptsrt. We are independent of the As5QC4atlon In accordance with the ethlcal requirements that are relevant to our audlt of the fln3ncl31 statements in the UK, including the FRC'S Ethical Stamdard and we have fulfilled our other éthlcal iesponsibililies in accordance with these requlrements. WE believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our oplnion. Concluslons relatlng to golng concèrn We have nothing to report to you in respect of the following matters in relation tts which the ISA5 IUKI require us to repoTt to you where: the Irustees, use of the going Concern bas15 of accountin8 In the preparaticin of the flnancial statement is not approprlate,. or the trustees have not disclosed in the financial statements any Identified material uncertainties that may east significant doubt about the charity's ability to continuè to adopt the going concern ba515 of accountlng for a period of at least twelve month5 from the date when the financial statements are authorised for issue. Other Informatlon The other information comprises the information included in the Report of the Trustees, other than the financial statements and our audltorfg report thereon. The trustees are responslble for the other information. Our oplnlon ()n the financial statements does not cover the other information and, except to the extent otherwise explicitly stated In our report, we do not express any form of assurance conclusion thereon.

Independent Auditorfs Report to the members of Rogers, Almshouses rviatters on whlth we are requlred to report by emception We have nothSn8 to report in respèct of the following matters In relation to whlch the Charities IAccounts and Reptsrtsl Regulations 2008 requlres us to report to you if, in our opinion.. the informallon given in the financial statemÈntS 15 inconsistent in any materlal respect wlth the trustees, report., or the charity has not kept proper accounting records,. or the financial statements are not in agreement wlth the accounting record5,' or we have not received all the information and explanatlons we reguire for our audit. Responsibllltles of trustees As explained more fully in the Statement of Trustees, Responsibllities Set out on page 7, the trustees are responsible for the Preparation of the financ121 staten)ents and for being satisfied that they glve a Irue and falr vlew, and for such Inte¥nal control as the trustees determine is necessary to enable the preparation of financlal 5tatement5 that are free from materlal m155tatement, whether due to fraud or error. In preparing the financial statements, the trustees are respons5ble for assesslng the charit15 abillty to continue as a going concern, disclosing, as applicable, matters related to Eoing COnc￿n and using the golng concern basis of accounting unless the tiustees either intend to liquldale the charity or ¢0 cease operations. or have no realtstlc alternative but to do so. Audltor's responslbllltles for the audlt Of the flnanclal statement5 Our objectives are to obtain reasonable assurance about whether the financial statements as 3 whole are free from materlal mi55tatement, whether due to fraud or error, and to issue an 3uditols report that includes our opinion. Reasonablo assurance is a high level of assurance, but Is not a Euarantee that an audit conducted in accordance wlth ISAS IUKI will always delect a material misstatement when It exi515, Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic deci5ion5 of users taken on thè basls of those financlal statements, A ftsrther de5criptlon of trur responsibilities for the audit of the financlal statements is located on the Financial Reporting Council's website at.. www,frc.or audltorsre5 onsibillties. This descrlption forms part of tsur auditor's report. The extent to whlch thÈ audlt was consldered capable of detectlng Irregularltles Includlng fiaud We Identlfy and assess the rtsks of materlal n)Isstatement of the financial statements, whether due to fiaud or error, and then design and perform audit piocedures responsive to those risks, Includin8 obtaining audlt evidence that Is sufficient and approprSate to provide a basis for our opinion, In identlfying and addressing rlsks of material misstatement in respect of irregularities, Ihcluding fraud and non- compliance with laws and regulatlons, our procedures included the following., We obtainèd an understanding of laws, regulatlons and guldance that affect the charity, focusing on thL¥5e that had a dlrect effect on the financial statements or that had a fundamental effect on its operatlons. Key laws, iegulations and guidance that we identified included the Statement of Recommended Practlce for registered housing providers.. Houslng SORP 2018, the Housing and Regeneration Act 2008, tax leglslalion and safttv legislation. We enqulred ol the trustees, and reviewed coirespondence and board meeting minutes for evldence of non- ompliance with relevant laws and regulatlons. We also reviewed controls the trustees have In place, where necessary, to ensure compllance.

Independent Audltorfs Report to the member5 01 Rogers, Almshouses We gained an understanding of the controls that thè trustee5 have in place to prevent and detect fraud. We enquired of the trustees about any Incldences of fraud that had taken place duiinE the accounting period. The rlsk of fraud and non-compliance with laws and regulations was discu55ed within the audlt team and tests wère planned and performed io addres5 these risks. We reviewed flnanclal statements disclosure5 and supporting documèntation to assess compliance wlth relevant laws and regulatlons discussed abovÈ. We enqulred of the trustees about actual and potential Iltlgation and dairns. We peiformed analytlcal procedures to Identlfy any unusual or uneKpected relat5onships that might Indlcate risks of material misstatement due to fraud. In addresslng ihe rlsk of fraud due to management overrlde of internal controls we tested the appropriateness of journal entries and assessed whether the lud8ements made in maklng accounting estimates were indicatlve of a potential blas. There are inherent limitations in our audit procedures described above. The more removed that laws and regulations are from financial transactions, the less likely It is that we would become aware of ntsn-compliance. Auditing standards also limit the audlt prtscedures requlred to identify non-compliance with law5 and regulatlons to enqulry of the Board and other management and the Inspéction of regulatory and legal corfespondemce, if any. Material mi5Statemenls thal arise due to fraud can be hardei to detect than those that arlsè from error as they may involve deliberate concealment or collusion. Use of our report Thls report is made solely to the charity's trustees, in accordance with Part 4 of the Charities (Accounts and Reportsl Regulatlons 2008. Our audit work has been undertaken so that we mlght State to the chartty's tru5tee5 those matters we are required to stale to it in an audilols report and for no other purp05es.. To the fullest extent per¥llitted by law, we do not accept or assume responsiblllty to anyone other than the charity and the charlty's trustees as a bodyi for our audlt work, for this report, or for the opinions we have formed. Beever and Struthers 8eever and Struthers Is ellglble to act as audltor In tèmis of sectlon 1212 of the Compahles Act 2006. st George's Hous 215-219 Chester Road Manchester M154JE Oate..

Rogers. Almshouses Statement of Financial Actlvlties For the year ended 31 December 2021 Unrestrl<ted Funds 2021 Restrlcted Funds 2021 Totsl Funds 2021 Total Funds 2020 Notes Income from: Donatlons and legacles Charitable activities- social housing Investments 95,000 95,000 68,868 10,572 174,440 68,868 10,572 79,440 69,366 9,263 Total Income 95,OCK) 78,629 Expendlture on.. Charitable activities- social housing Total expendlture 170,4041 170.4041 170,4041 170,4041 149,8251 149,8251 Net 8alns/llossesl on Investments 12 30.774 30,774 119,5971 Net Income and net movement In funds 39,810 95,000 134,810 9,107 Reconclllatlon of funds: Total funds brought forward Total fund5 £ariied forward 548,901 588,711 207,955 302,955 756,856 891,666 747,749 756,856 All of the above results derive from the continuing operations of the Charity. The notes on pages 16 to 23 form an integ￿1 part of these flnancl41 statement5. The financlal statements on pa8e$ 13 to 23 were approved and authorlsed for Issue by the Board of Trustees on 8 Junè 2022 and wère signed on Its behalf by., Trustee Mr S Holland 11. Trustee Mrs J Simpson 131Page

Rogers. Almshouses Balance Sheet At 31 December 2021 2021 Z020 Notes Flxed assets Tangible fixed assets Investments li 12 483,462 354,388 270,438 314,341 584,779 837,850 Current assets Debtors Cash and cash eouivalents 13 14 25,482 56,844 82,326 1,791 178,056 179,847 Less.. Creditors.. amounts falling due wlthin one year 15 128,510 17.7701 et current assets/liabilities 53,816 172,077 Total assets le55 current liabilitie5 891,666 756,856 Total net assets 891,666 756,856 Funds of the charlty Unrestrlcted funds.. Unrestricted general fund Social Housing Grant fund 18 18 588,711 302,955 548,901 207,955 Total tharlty funds 891,666 756.856 The notès on pages 16 10 23 form èn Integral part of these flnancial statements. The flnan¢lal statements on pages 13 to 23 were approved and authorlsed for issue by the Board of Trustees on 8 June 2022 and were slgned on Its behalf by: .sc.IL:. Ilc Mr S Holland Trustee ,q . SI￿(J}S.- TNstee Mrs J Slmp50n

Rogers. Almshouses Statement of Cash Flows For the year ended 31 December 2021 2021 2020 Net cash generated from operatlng actlvltles (seè Note I bèlow) 112,546 25,559 Cash flow from Investlng actlvltles Purchase of tanglble fixed assets Purchase of investments Interest and similar income received 123S,C1561 19,2731 10,572 17,9841 17,8wI 9,263 1233,7571 1,463 Net change In cash and cash equlvalents Cash and cash equlvalents at be8lnnlng of the year 1121,2121 178.056 19,038 159,017 Cash and eash equivalents at end of thè year 56,844 178,056 Note I Net incomellexpenditurel for the year 134,810 9,107 Adjustments f(Fr non-cash item5'. Depreclation of tangible fixed assets Iincreaselldecrease in trade and other debtors Increa5e/ldecreasel in trade and other creditors (Gainllloss on revaluation of fixed asset Investments 22,033 123,6911 20,740 130,7741 9,135 519 13,6351 19,697 Adjustments for investing or financing activities: Interest aod siwilar income receivEd 110,572 19,2631 Net cash generated from operating activities 112,546 25,559 The t)otes on pages 16 to 23 form an integral part of these financial statements.

Rogers, Almshouses Notes to the Flnanclal Statements For the year ended 31 Detember 2021 General Infom)atlon The Charity is an unincorporated Charlty registered in Ellglalld and Wales, a member of the National m5house Association and is registèrèd with the Re8u13tor of Social Housing as a Private Reglstered Provider of Social Housing. The registered office is Crown Chambers, Prlnces Street, Harrogate, HGI INJ. Prlnc5pal accountlng pollcles Basls of accountlng The financial Statements have been prepared in accordance with applicable United Klngdom Generallv Accepted Accounting Piactice IUK GAAPI and Accounting and Reporting by Charitles.. Statement of Recommended Practice applicable to Charlties preparing their accounts in accordancè with the Financial Reporting St4ndard applicable In the UK and Republlc of Ireland IFRS 1021 leffective l January 20191 Icharlties SORP IFRS 1021 (second edlt1on - October 201911, the Financial Reporting Standard applicable In the UK and Republic of Ireland IFRS 1021, the Charitie5 Act 2011 and the Accountlng Directlon for Prlvate Registered Providers of Soclal Housing 2019. The aCCDunls are prepared on the hlstorical cost basls of attounting except as modified by the revaluatlon of Investments and are presented ir¢ pounds sterling. The flnanrlal staternents have been prepared In compllance with FRS 102. In complyin8 Wlth FRS 102 the Charity mèets thè definiti()n of a public benefit entity. Golng concern The flnat)clal statements have been prepared on a golng concern basls whlch assumes an ability to conllnue operatlng for the foreseeable fulure. The Trustees have concluded that, while the COVID-19 pandemi Increases the uncertaintles related to future events or conditions, they are confident that the Charity will contlnue as 8 going concern based on the cash flow forecasts and slgnificant value of free reserves held by the Charlty. Thè Trustées are of the opSnion that the Charity wlll have sufficlent resources to meet its liabilities as they fall due. judgements and key sources of estlmatlon uncertalnty The preparatlon of the financial statements requires management to make judgements, estSmates and assumptions that affect the amounts reported foi assets and liabilities as at the balance sheet date and the amounts reported for revenues and expense5 during the year. However, the nature of estimation means ihat actual outcomes could dlffer from those estimates. The following ludgemenls lapart from those involving estimatesl have had the rnost significant effect on amgunt5 recognised in the financial statements. Categorisation of housing propertles The Charity has undertaken a detailed review of the intended use of all housing properties, In determining the intended use, the Charity has cDnsldered if the assetls held for social benefit or to earn commerclal rèntals. Impairment The Chality has identified a cash generating unit for impairment a5SE55rnent purposes at a property sthème level. 161page

Rogers, Almshouses Notes to the Flnanclal Statements For the year ended 31 December 2021 Prln¢lpal accountlfig polldes Icontlnuedl Other key sources of estimation and assumptions.. Tangible flxed assets TanglblÈ Ilxed assets aredepreciated over thelr useful Ilveg taking into account residual values. where appropriate. The actual lives of the assets and residual values are assessed annually and may vary depending on a numbei of factors. In re-assessing asset lives, factors such as technologlcal Innovationi product life cycle5 and rnaintenance programmes are taken Into account. Residual value 3ssessmÈnts consider Issues such as future market COMditSong, the remaining life of the assel and projected disposal values. Impairment of non-financial assets Reviews for impalrment of housing properties are carried out when a triggèr has octtjrred and any impairmEnt loss in a cèsh generatlng unlt Is recogni5ed by a charge to the Statement of Financial Activities. Impalrment Is rècognlsed whère the carrying value of a cash generating unit exceeds the higher of its net realisable value or its value in use. A cash generating unlt Is no¥mally a group of propertles at scheme level whose cash income can be separately identlfied. The Charity has assessed that no trigger for an impairment review ha5 occurred. Income recognltlon Income from soclal houslng activities represents weekly malntenan¢e charge receivable, Including water rates and other income and is recognlsed In relatlon to the perlod when the goods or services have been supplled. Weekly maintenance charge income 15 recognised when the property Is available for let, nèt of voids. D15tribulions and InterÈst on Investments are Includèd on the accruals basis by reference to the due date of payment. Servlce charges Service charge income and costs are recognlsed on an accrua15 basis. Taxatlon The Charity is a registeied Charity and Is, thefefore, exempt from any liability to taxation on Its Income and capital gains. The Charity Is not rÈglstered for VAT and therefore Èxpèndlture is stated Inclusive of VAT. Tanglble fixed assets and dePT￿latIon T3nglble flxèd assets are stated at C05t, les5 accumulated deprèclatlon. Freehold land 15 llot depreclaled. Houslng properties Where a housing property comprises two or more malor components Wlth substantlally different Useful economic live5 IUELS), each component Is accounted for separately and depreciated over its individual UEL. Expenditure relating to %￿b$equent replacemènt or renewal of components is capitalised as incurred. The Charlty depreclates freehold housing properties by component on a slraight-llne basls over the estimated UELS of the component categorles.

Rogers, Almshouses Notes to the Financial Statements For the year ended 31 December 2021 Prlndpal accountlng pollcles Icontlnuedl UELs for identified components are as follows.. Structure Roofs Windows and doors Kltchens Bathroom5 Boilers Electrical and heatSng installations 80 years 70 years 30 year5 20 yè3YS 25 years 15 years 25 years Other tangible fixed assets Depreclation Is charged on other tangible fixed assets on a straight-line basis over the expected economic useful lives whlch are as follows.. Equipment S years Property managed by agents Where the Charity carrles the majority of the financial risk on property managed by agents, income arlslng from the property is included in the St3t8ment of Financial Actlvitles. The assets and assoclated liabilitles are included In the Charitls Statement of Flnanclal Position. Short-term debiors and credltors Debtors and creditors.wlth no stated interest rate and receivable or. payable wlthln one year are'recorded at tTansaction price. Any losses arising from impaiiment are recognised in the Ststement of Financial Activities in other operating expenses. Sodal Houslng and other government granls In accordance with the Charities SORP FRS 102, grants received from 8overnment have been treated as income and added to reserves. The fund 15 held separately from unrèstrlcted reserves reflecting the possiblllty of a repayment demand from Homes England. Investments Investments are initially recognised at their transactlon value and subsequently measured at thelr market value as al the balance sheet date uslng the closlng market value. Gains and losses on disposal and revaluatlon of investments are Charged or credited to the Statement of Financial Activities. Flnaneial Instyumènts The Charity only ha5 financial assets and financial liabilities of a klnd that quallfy as baslcflnancial instruments. Basic financial Instruments are initially recognised at transactlon value and subsequentw measured at thelr settlemetr)t value. Impalrment of Flnancial Assets Fitiancial assets are assessed at each reportin8 date to detÈrmlne whether there is any objectlve evidence that a financlal asset or 8roup of financial assets Is impaired. If there is objective evidence of Impairment, an impairment Ioss is recognlsed In the statement of Hnancial activitles immedlately.

Rogers, Almshouses Notes to the Flnancial Statements For the year ended 31 December 2021 Donatlons and legacles Unrèstrltted Funds 2021 Unreslrlcted Funds 2020 Grants 95,000 95,000 Income from charltable activltles Unrestrlcted Funds 2021 Unrestrlcted Funds 2020 Weekly maintenance chargè Service charge income plus water rates Less.. Voids 72,557 6,623 110,3121 69,825 4,949 15,4081 Total Income from charltable activltles 68,868 69,366 Investment Income Unrestrlcted Funds 2021 Unrestricted Funds 2020 Bank interest recelved Income on flxed asset investments 10,564 9,169 10,572 9,263 £xpendlture on charltable activStles Unrestrlctèd Funds 2021 Unrestrlcted Funds 2020 Managerllent costs ServSce charge costs Routlnè malntenance Depreciation Accelerated depreciation Bad debts 27,05S 11,871 9,445 7,964 14.069 30,565 8,156 1,946 9,134 24 Total expenditure on charltable artivitles 70.404 49,825

Rogers, Alrnshouses Note5 to the Finandal Statements Forthe yearended 31 December 2021 Net Income forth8 year 2021 2020 Net Intome for the year 15 Stated after charglng.. Auditorfs remuneration (excluding VATI.. In their capacity as audltors In respect of other services Depreclatlon of housing properties Depreciation of fixtures and fittings Accelerated depreclation 2,250 550 7,800 164 14,069 2,045 sio 8,970 165 Accommodatlon managed by others Number of propertles Numbèr ol propertles General Housing 15 14 Taxatlon Rogers. Almshot&￿S Is a reglstered Charity and is, therefore, exempt from any liabillty to taxation on Its Income and capital 8ains. 10. Employees and Key Managemènt Pèrsonnèl The Charity has no employees12020- none). Key management personnel are defined as the Trustees. No Trustees recelved any remuneratlon In the year12020- £Nill. DurinE the financial year £Nil12020- £MIII payments were made to Trustees.

Rogers, Almshouses Notes to the Flnanclal Statements For the year ended 31 December 2021 11. Tan8lblè flxed assets Soclal Houslng Propertles for Lettlng Completéd A55ets Under Flxturèg & Constructlon Fittln8S Total Cost At I january 2021 Additions rran5fers Dlsposals At 31 December 2021 405,755 235,056 7,984 122,4451 626,350 7,984 4,641 418,380 235,056 17,9841 122,4451 630,991 4,641 Depre¢lat40n At I January 2021 Charge for the year ElimSnatèd on disposals At 31 December 2021 143,792 7,800 18,3761 143,216 4,150 163 147,942 7,963 18,3761 147,529 4,313 Net book valuè At 31 December 2021 483,134 328 483,462 At 31 Oecember 2020 261,963 7,984 491 270,438 Houslng propertles comprlse: Freeholds Long leasehold 483,134 483,134 12. Flxed a55et Investments Llsted Investments Valuatlon Total At l January 2021 Additions Unreallsèd gainslloss in year 314,341 9,273 30,774 314,341 9,273 30,774 At 31 December 2021 354,388 354,388 The investments are held with M&G Investments. The historic cost of thesè investments at 31 December 2021 was £239,87012020- £230,597). Investments are shown at market value at the balance Sheet date. The market value Is determlned by reference to the quoted prlce for Identltal assets In an active market. 2021 2020 The Investments comprise.. Llsted NAACIF income shares 354,388 314,341

Rogers, Almshouses Notes to the Flnancial Statements For the year ended 31 December 2021 13. Debtors 2021 2020 Amounts falllng due wlthln one year., Weekly malntenance charge In arrears Le5s.' Provision for bad debts Prepayments and accrued inctsme Other debtors 25,308 174 1,791 25,482 1,791 14. Cash and tash equlvalènts 1021 2020 Cèsh at bank 56,844 178,056 15. Credltors.. amounts falllng due wlthln one year 2021 2020 Trade creditors Accruals and deferred Income 540 27,970 277 7,493 28,510 7,770 Included in accruals and deferred income of £27,97012020: £7,493) Is deferred income of: 2021 2020 Deferred income brought fO￿ard Income released In the year Amounts deferred In the year Deferred income carried forward

Rogers, Almshouses Notes to the Flnancial ststements For the year ended 31 December 2021 16. Analysls of charltable funds At l January 2021 Income Expendlture Galn on Invèstments At 31 December 2021 Unrestrfcted funds Unrestricted general fund Social Houslng Grant fund 548,901 207,955 79,440 95,OOQ 170,4041 30,774 588,711 302,955 756,8S6 174,440 170,4041 30,774 891,666 Unrestrlded getteral fuhd The unrestricted general fund represents the ¢umulatwe net income and expendlture net of other adjustments. Sodal Houslng Grant fund In aecordance with the Charlties SORP FRS 102, grants received frorn government have been treated as income and added to regerves. The fund is held separately from the unrestricted general fund reflectlng the p0551billty of a repayment demand from Homes England. 17. Anzlysls of net a55ets between funds Unrestrlcted funds Tanglble fixed assets Investments Current asset5 Current and non-current liabllities 483,462 354,388 82,326 128,5101 891,666 18. Capltal commltments At the balance sheet date there were capStal commitments of £18,14012020-£NIII. 19. Contlngent Ilabllltles At the balance sheet date there were no contingent liabilities12020- £MIII. 20. Related party transactlons Thère have been no transactlons wlth related parties during the year12020- £Nill. 21, Analys15 of changes In net debt Ati January 2021 At31 December 2021 Other non- cash changes Cash flows Cash at bank 178,056 1121,2121 56,844 178,056 1121,2121 56,844

Audit Management Letter

Rogers’ Almshouses Year Ending 31 December 2021

27 June 2022

AUDIT MANAGEMENT LETTER

Contents

Scope of the Audit Work 1
Key Audit Areas 2 – 3
Other Audit Areas 4 – 5
Independence 6
Qualitative Aspects of Accounting Practices and Financial Reporting 7
Management Representation Letter 8
Audit Opinion 8
Audit Adjustments 9 – 10
Accounting and Internal Control Systems 11

AUDIT MANAGEMENT LETTER

Scope of the Audit Work

Our audit of the financial statements of Rogers’ Almshouses (‘the Charity’) is complete. The purpose of this letter is to bring to your attention the findings from our audit. We appreciate that you will already be aware of the majority of the matters contained in this letter.

In order to comply with the provisions of the International Standard on Auditing (ISA) 260 – ‘Communication of Audit Matters with those Charged with Governance’ we report to management on the findings of our audit, with particular reference to:

We also take this opportunity to comment on the Charity’s performance for the year and to confirm our professional integrity, objectivity and independence.

We see effective communication with the Trustees as being a key part of our audit and it is important that there is effective two way communication. We welcome any feedback or questions regarding the conduct of the audit process.

This report is not intended to cover every matter which came to our attention during the audit. We do not accept any responsibility for any reliance placed on it by third parties. Our procedures are designed to support our audit opinion and cannot be relied upon to identify any weakness in systems or controls which may exist.

We would like to take this opportunity to formally record our appreciation for the assistance and co-operation provided to us by the Trustees and the team at Lithgow Perkins, who assisted us during the course of our audit.

Beever and Struthers

Date: 27 June 2022

AUDIT MANAGEMENT LETTER Page 1

Key Audit Areas

The following table summarises the key audit issues we identified as requiring specific consideration and the audit procedures we undertook in relation to them.

Audit Issues per Audit Plan Overview

Audit Procedures and Results

Housing Properties

The number of housing properties has increased slightly from 14 units in 2020 to 15 units in 2021.

The audit risks for housing properties include:

The carrying value of housing properties increased from £270,438 at 31 December 2020 to £483,462 at 31 December 2021 as a result of additions to housing properties of £235,056. There were some disposals in the year and depreciation of £7,800.

As part of the audit work we have:

Our audit work did not identify any issues in this area. .

AUDIT MANAGEMENT LETTER Page 2

Key Audit Areas

Audit Issues per Audit Plan Overview Audit Procedures and Results
Assessment of Fraud Risk
ISA 240 “The Auditor’s responsibility to consider fraud”
requires us to consider the risk of fraud and the impact that
this has on our audit approach. There is a presumed
significant risk of fraud in two areas:
Revenue Recognition
Material misstatements due to fraudulent reporting often
result from an overstatement of revenues, for example
through premature revenue recognition or recording
fictitious revenues. The auditor therefore presumes that
there are risks of fraud in revenue recognition and
considers which types of revenue may give rise to fraud
risks.
Management Override
Under ISA 240 there is a presumed risk of management
override of the system of internal controls.
Material misstatements can arise from management
overriding the controls which are in place or by
manipulating the results to achieve targets and the
expectations of the stakeholders.		 Our audit is designed to provide reasonable assurance
that the accounts are free from material misstatement
whether caused by fraud or error. In particular, we
reviewed revenue recognition and management control
override.
As part of the audit planning, we met with management
to discuss fraud related risks and the risk of material
misstatement in the financial statements.
During the audit fieldwork, we assessed and tested the
controls over income from rents and service charges. We
also assessed the controls over cash and debtors and the
segregation of duties in place and performed analytical
review procedures on the material income streams and
tested the cut off on the rent debit.
Our audit did not highlight any errors in relation to revenue
recognition.
As part of our year-end audit work we reviewed material
year end journals and we are just in the process of
completing our work in this area.
Our review of key estimates and judgements in the
financial statements indicated that they had been made
on a reasonable basis and showed no evidence of
management bias.

AUDIT MANAGEMENT LETTER

Page 3

Other Audit Areas

Audit Issues per Audit Plan Overview Audit Procedures and Results
Revenue and Debtors
Maintenance charge income and the related debtors have
a significant impact on the financial statements Changes
are required to comply with various legislative and
regulatory requirements and a degree of judgement is
involved in determining any provision against arrears.		 The maintenance charge arrears balance at 31
December 2021 was £Nil, therefore no bad debt
provision was required at the year-end.
Prepayments and accrued income increased from
£1,791 in 2020 to £25,308 in 2021 because of the
£23,750 of grant income owed by Homes England
which was received post year end.
As part of the audit work we have:
•
Agreed the year end arrears balance (£Nil) to the
maintenance charge income control account
reconciliation, ensuring that appropriate cut off
procedures have been applied;
•
Assessed the adequacy of last year’s provision
(£Nil) compared to the maintenance charge
losses experienced in the current year; and
•
Performed a proof in total test on the
maintenance charge income for the year.
•
Compared prepayments and accrued income at
31 December 2021 to the prior year and tested a
sample of prepayments and accrued income to
supporting documentation.
Our audit work did not identify any issues in this area.

AUDIT MANAGEMENT LETTER

Page 4

Other Audit Areas

Audit Issues per Audit Plan Overview

Audit Procedures and Results

Review of Business Plan and Going Concern

The business plan is a key document in the ongoing management of the Charity and in providing assurance that the Charity remains a going concern for the foreseeable future. The Regulator requires that stress testing is undertaken on the business plan as part of its Regulatory Framework.

Under the going concern assumption, an entity is viewed as continuing in business for the foreseeable future. Accounting requirements indicate that any material uncertainties about the appropriateness of the going concern assumption are disclosed adequately in the financial statements.

The accounts have been prepared on the going concern basis and relevant disclosure has been presented in the Report of the Trustees and in the Accounting Policies.

As part of the audit work we will:

Our audit work did not identify any issues in this area.

The COVID-19 pandemic has already had a significant impact across the globe and will have far-reaching consequence on almost all aspects of our personal and professional lives. For Registered Providers, the impact will be significant for residents, staff, contractors and suppliers. Across the housing sector, there will be increased scrutiny on whether the going concern basis is an appropriate basis on which to prepare the financial statements, and increased focus on many other estimates and judgements used in preparing the financial statements.

A statement of compliance with the Regulatory Framework is required in the financial statements. Any non-compliance identified since the previous report should be explained.

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Independence

Ethics and Independence

In the UK and Ireland, auditors are subject to the ethical requirements of the Financial Reporting Council’s 2019 Revised Ethical Standard for Auditors.

International Standard on Auditing (ISA) 260 (Communication with those Charged with Governance) and good practice require us to confirm the following to those charged with governance:

The Trustees should take an active role in considering whether the external auditor’s independence might be impaired by the provision of non-audit services.

Non-Audit Services

In addition to our work as the Charity’s external auditors, we also prepare the statutory financial statements from trial balance.

The actual fees, excluding VAT, for non-audit services for 2021 are set out below:

Additional Service Actual Fees
2021
Preparation of statutory financial £550
statements from trial balance

In our opinion the level of fees charged for these non-audit services is not significant in the context of the Charity audit fee.

We consider that appropriate safeguards are in place for such non-audit services and, in our opinion, the provision of these additional services does not prejudice our independence and objectivity as the Charity’s external auditors.

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Qualitative Aspects of Accounting Practices and Financial Reporting

Accounting Policies

FRS 102 requires that entities should review their accounting policies regularly to ensure that they are appropriate to its particular circumstances for the purposes of giving a true and fair view. The Trustees play a key role in this process.

We have reviewed the Charity’s accounting policies and key judgements as stated in the financial statements in detail and confirm that we judge them to be appropriate to provide relevant, reliable, comparable and understandable information.

Accounting Estimates

Key accounting estimates in the financial statements concern housing property and other fixed asset depreciation rates and accruals. We confirm that estimates have been made appropriately in line with our knowledge of the Charity and the industry, and are disclosed satisfactorily in the financial statements.

Financial Statement Disclosures

We confirm that we judge the disclosures throughout the financial statements to be neutral, consistent and provide sufficient clarity to the user.

Significant Matters Arising from the Audit

There were no significant matters arising from the audit that were discussed, or subject to correspondence with management.

Significant Difficulties Encountered During the Audit

There were no significant difficulties encountered during the audit.

Timing of Transactions

Our audit work confirmed that material transactions were recorded in the correct accounting periods. Accruals and prepayments were made for material items.

Going Concern

The financial statements have been prepared on a going concern basis. Once we have received copies of the 2022 budgets and post year end management accounts we will evaluate your assessment of the Charity’s ability to continue as a going concern and the disclosure made in the accounting policies and we will then confirm that this assumption is appropriate based on our work.

Report of the Trustees

We reviewed other information in the narrative reporting sections of the financial statements. We confirmed that there is no material inconsistency between it and the financial statements.

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Management Representation Letter / Audit Opinion

Management Representation Letter

In accordance with ISA 580, we obtain written representation from management that they acknowledge their responsibility for preparing the accounts and have made all information available to us.

The management representation letter was signed by the Trustees at the same time as the financial statements. The letter includes confirmation from the Trustees that the impact of COVID-19 has been fully considered and appropriate disclosures made in the financial statements and that the Charity will be a going concern in 2022 and beyond.

Audit Opinion

We have provided an unqualified audit opinion on the financial statements for the Charity for the year ended 31 December 2021.

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Audit Adjustments

Materiality

Our audit work is based upon an assessment of materiality to ensure there is no material misstatement contained in the financial statements. In assessing materiality we take into account both the materiality of the class to which the balance belongs and the overall impact of the balance on the income and expenditure account and balance sheet.

ISA 260 requires us to report to management on all uncorrected misstatements identified during the audit, and to include in this report how we have calculated materiality, and any misstatements identified during the audit which have been corrected.

Materiality may be revised throughout the course of the audit, where we become aware of information during the audit that would have resulted in a different determination of materiality at the outset.

We are not required to report on corrected or uncorrected misstatements we believe are clearly trivial.

Our assessment of materiality was based on the first draft accounts received prior to the audit and calculated using a percentage of turnover (3%).

We used the same materiality figure for the Statement of Financial Position (‘SOFP’) to the Statement of Comprehensive Income (‘SOCI’). Triviality is the value above which we report errors to you. A summary of the final assessment of materiality is as follows:

Turnover Materiality Triviality
£ £ £
Rogers’ Almshouses 174,440 5,233 262

Corrected Misstatements

The following adjustments were identified, and agreed with the Trustees, following the preparation of the trial balance at 31 December 2021.

Adjustment Impact on
surplus/(deficit)
£
Surplus per draft 1 accounts 39,810
Audit adjustments:
Recognition of housing grant through SOFA 95,000
Surplus per financial statements 134,810

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Audit Adjustments

Uncorrected Misstatements

There are no uncorrected misstatements identified as a result of our audit work in the financial statements that are not of a trivial nature to the results of the Charity.

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Accounting and Internal Control Systems

ISA 265 requires that we report to those charged with governance any significant deficiencies in internal control that we identify in the course of our audit work. Significant deficiencies are those deficiencies that we have identified during the audit and concluded are of sufficient importance to merit being communicated to those charged with governance.

Audit Findings

The audit considered internal controls relevant to the preparation of the financial statements in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of internal control.

We are pleased to report that overall we found that the Charity’s systems and internal financial controls were operating effectively.

There were no significant deficiencies identified as a result of our work.

Recommendations for improvement to systems and procedures in prior year

In last year’s management letter we made no recommendations.

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