The Retreat
Registered number 236433
Annual Report of the Trustees for the year ended 31 December 2023
Trustees as at 31st December 2023:
Rev Dermot Thornberry, Chair, Mark Boomla, Treasurer, Michael Brignall, Secretary, Susan Richardson and Peter Robinson. During the year, the Trustees held four meetings. We are seeking to increase the number of our Trustees as the number has fallen short of our normal practice. The Treasurer attended a training day organized for Trustees by the Almshouse Association.
All residents continue to be visited regularly. A pastoral report on their wellbeing and any issues of concern to them is made to each meeting of the Trustees.
The year was very successful financially. The receipts once again exceeded £25,000. There were two main reasons for this:
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there was 100% occupancy of the properties throughout the year,
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the cost of building repairs and maintenance was relatively low.
The reserves at the year-end were over £80,000. This is an excellent financial result. The reserves have been built up in accordance with the policy stated below.
The accounts for the year were examined by Martine Mbida. The Trustees record their thanks to her for her work.
The Trustees approved the following Reserves Policy on April 28, 2021 :
It is our policy to hold around £50,000 in reserve.
This amount should be sufficient to meet any major demand such as re-slating the properties and allow for regular cyclical expenditure such as refurbishing properties between appointments.
The Reserves are held in Charity Funds recommended by The Almshouse Association with the aim of long-term appreciation, whilst £10,000 to £20,000 is held in readily accessible accounts operated by The Central Finance Board of The Methodist Church. Investments In these products should provide adequate risk protection and ethical concerns.
We currently hold increased reserves as we are planning some significant work on the properties to improve their heat insulation.
During the year, the Treasurer arranged for the Retreat to move on to electronic banking.
The work on building maintenance, the need for which had been identified in the Quinquennial Inspection carried out in July 2022, was completed.
September 2024
The Retreat 2023 12 rnonth5to 31StoecÈmbei 2023 12 rnonths to 31st DeCber 2022 IKome Donadons CoTrtrlbvtions Sundryinctyne 420 28.013 22,3 28,433 24529 Expendlture bfitish Gas 11.085 834 South Easternwat Repalrs 6.180 1.104 1,092 122 17S 11,131 1,042 c3retake Piciurelor Phll Smych ChrlstmasVoLKhers Alm5hou5e A5SQClation Legal Fee5 1,447 23,797 I1[ rplus 4.636 3.D19 r 61¥P Lf[ Drl Zo IL+
The Retreat 8alance sheet As at 31st Deeember 2023 315t December 2023 31st December 2022 FL¥éd Assets Prop2rty 1fi78 1.678 Inv¢srmerrt5 M&G InvetTnents char[tyMil assets fnd 58.179 54,778 Bonds BIthRDck Chanty Uk 6ond Fund 6.027 5,685 8DTrds Central fillar Bcp3rd of MethcKlistsChurth 16.156 15066 80,363 75,929 Cash •t nk Lloyds Bank CvrrentAc¢ount 22.054 17A17 Total 104,(Y34 95,025 ftepresehted by. RÈgènr•S 8hfforwèrd Added ih the year Increase In 1ve of invetrnents 95,0 4,636 4,432 Canled foA¥ard 104,094 8Lf UE
CHARITY COMMISSION FOR ENGLAND AND WALES Independent examiner's report on the accounts Section A Independent Examiner's Report Report to the trusteesl members of The Retreat On accounts for the year ended 31st December 2023 Charity no (if any) 236433 Set out on pages One and Two. I report to the trustees on my examinalion of the accounts of the above charity ('Ihe Trust") for the year ended 3111212023 Responsibilities and As the charity Irustees of the Trust, you are responsible for the preparation basis of report of the accounts in accordance with the requirements of the Charities Act 2011 1.the Act"). I report in respect of my examination of the Trust's accounts carried out under section 145 of the 2011 Act and in carrying out my examination, I have followed the applicable Directions given by the Charity Commission under section 145151{b) of the Act. I have completed my examination. I confimi that no material mallers have come lo my attention lolher than that disclosed below ") in connection with Ihe examination which gives me cause lo believe that in, any material respect.. accounting records were not kept in accordance with section 130 of the Act or the accounts do not accord with the accounting records Independent examiner's statement I have no concerns and have come across no olher matters in connection with the examination lo which attention should be drawn in order to enable a proper understanding of the accounts to be reached. Please delete the words in the brackels if they do not apply. Signed: Date: ?L2 Name: Martine Mbida Relevant professional qualificationls) or body lif any): FCCA Address: 34 Becket Avenue East Ham E6 6AF IER October 2018
Section B Disclosure Only complete if the examiner needs lo highlight matters of concern (see CC32. Independent examinalion of charity accounts.. directions and guidance for examiners). Give here brief details of any items that the examiner wishes to disclose. IER October 2018