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2021-12-31-accounts

REGISTERED CHARITY NUMBER: 236902

Report of the Trustees and

Unaudited Financial Statements

For The Year Ended 31st December 2021

for

The Aberford Almshouses

F E Metcalfe & Co Limited Chartered Accountants 4 Old Market Place Ripon North Yorkshire HG4 1EQ

The Aberford Almshouses

Contents of the Financial Statements For The Year Ended 31st December 2021

Page
Reference and Administrative Details 1
Report of the Trustees 2 to 4
Independent Examiner's Report 5
Statement of Financial Activities 6
Balance Sheet 7 to 8
Notes to the Financial Statements 9 to 16
Detailed Statement of Financial Activities 17 to 18

The Aberford Almshouses

Reference and Administrative Details For The Year Ended 31st December 2021

TRUSTEES D Stainton Chairperson
S Darigala
C Hassell
R Reed
C Wilton
R Stephenson
A Hogg
PRINCIPAL ADDRESS Parlington House
Beech View
Aberford
Leeds
West Yorkshire
LS25 3BX
REGISTERED CHARITY 236902
NUMBER
INDEPENDENT EXAMINER F E Metcalfe & Co Limited
Chartered Accountants
4 Old Market Place
Ripon
North Yorkshire
HG4 1EQ
BANKERS The Co Operative Bank
1 Balloon Street
Manchester
M60 4EP

Page 1

The Aberford Almshouses

Report of the Trustees For The Year Ended 31st December 2021

The Trustees present their report with the financial statements of the Charity for the year ended 31 December 2021. The Trustees have adopted the provisions of the Statement of Recommended Practice (SORP) for Social Housing Providers 2018 and applicable accounting standards.

OBJECTIVES AND ACTIVITIES

Objectives and aims

The purpose of the Charity is to manage Almshouses, to afford independent living for the elderly, poor and needy people. The main criteria for meeting its objectives are that the Almshouses be available on payment of a maintenance contribution to elderly, poor and needy people who (except in special cases to be approved by the Charity Commissioners) have resided for a period of not less than two years in a beneficial area consisting of Parlington, Aberford, Lotherton, Garforth, Sherburn-in-Elmet, Church Fenton, Barkston Ash, South Milford, Saxton and Barwick-in -Elmet, with a preference in the first place for those having been resided in the first four ancient townships mentioned.

Public benefit

The Trustees have reviewed the Charity Commission's guidance on the requirement to report on public benefit. The Trustees are satisfied that the work of the Charity and its policies and procedures accord with its stated objectives and provides tangible public benefit. The criteria used to assess those who may benefit comply with its Governing Document and are not unreasonably restrictive. The Charity has taken due regard in its policies for the public benefit.

ACHIEVEMENT AND PERFORMANCE

Charitable activities

The principal activity of the trust is the letting of almshouses.

The Trustees are satisfied that, in continuing to provide low cost accommodation, ensuring that the Almshouses are maintained to a good standard and that occupancy levels are high, they have met their objectives.

Trustees consider the operations of the Trust during the year and the postion at the end of the year were satisfactory.

FINANCIAL REVIEW

Principal funding sources

The Weekly Maintenance Contribution (WMC) paid by residents is the principal source of funding for the Almshouses.

The Trustees set the WMC at a level anticipated to cover the annual budgeted operating costs of the Trust.

The Trustees continue to implement increases to the Weekly Maintenance Contributions, within the guidelines laid down by Homes England, to ensure that the Charity generates a sufficient surplus to meet its capital commitments on the mortgage.

Additionally, continuous efforts are made to control costs across all areas of expenditure.

Page 2

The Aberford Almshouses

Report of the Trustees For The Year Ended 31st December 2021

FINANCIAL REVIEW

Reserves policy

Day to day repairs and maintenance are charged to the income and expenditure account as and when they occur. An amount for repairs during the next financial year is budgeted for and agreed by Trustees at their December meeting.

The Charity operates a cyclical repairs and maintenance reserve to meet any costs in excess of annual budgeted expenditure.

An extraordinary repair reserve in excess of £90,000 is held at the Co Operative bank.

Additional reserve funds in excess of £20,000 are held in the Charities Official Investment Fund managed by CCLA.

The Charity also holds reserves in excess of £55,000 which are held in M & G's Charity Multi Asset Fund..

£20,000 is ring fenced in the Current Account to support the cyclical repairs and maintenance reserve but any unexpected costs incurred are met from the Extraordinary Repair Fund..

Each year the Trust adds funds to the Extraordinary Repairs Fund. The amount is in line with the amount recommended by the Almshouse Association.

The Trust includes an amount in reserves to enable it to operate without the Weekly Maintenance Contribution income for a period of six months.

The Trustees review the level of reserves held at each Trustees meeting and consider the current level of reserves to be more than adequate.

Going concern

After making appropriate enquiries, the Trustees have a reasonable expectation that the Charity has adequate resources in operational existence for the foreseeable future. For this reason the Trustees continue to adopt the going concern basis in preparing the financial statements.

Designated Reserves

£15,000.00 was transferred to designated reserves during the year.

A further £5,000.00 was transferred in early 2022 making a total transfer of £20,000.00 for 2021.

No costs or charges were incurred with these transfers.

FUTURE PLANS

The Charity plans to continue its present activities in the future, Funds are available to meet future needs where those have been identified.

STRUCTURE, GOVERNANCE AND MANAGEMENT

Governing document

The governing document of the Charity is a deed dated 22 July 1913, amended 26 July 1960 and approved by the Charity Commission.

The Charity is a member of the National Association of Almshouses and is also a Registered Social Landlord with The Homes and Communities Agency.

Charity constitution

The Almshouse is a Registered Charity (number 236902).

The Almshouse Trust is registered with the Regulator of Social Housing (Registration number A0230).

Page 3

The Aberford AlnL8ho ort of the Trn8tet ¢#r Ended 31st DecetLber 2021 ForTh STRucfuRL GOVERNAf4c£ AIYD MANAGEMETr Re¢rnItn￿It appo￿tn￿nt of DeTrv trustees Tbe are 00 specifi¢ re4uirem¥'ILts in ￿ Ch4rity deed relatin8 to the appointment of TtU5tees. The TrLtstees tllas. appoint a Cler￿n￿]n of the ChutGh of England and have sO￿t to ￿ve a rerresentatike from L¢l￿S Citj Council on th¢ Boaid. Other th&n the al￿Ve, new Trustees &r¢ a Board. roachEd b&%ed on the personal reconJmen(tqlion$ of those a]rcady on the Or%￿1￿•tIon•I structure The Charity. otKr3tes tti.enty eigbt a]rnshou8es 1o¢8t¢d ai Parlington House. Beech View. Aberford. Decijion making The Charity is managed bv & Board of Trust¢eS. Durillg 2021 the Trust had seven TrE￿eS who met on a r¢8ular iHsis remolc means due to Covid-19 and in person WI￿ safe to do x>. Anj. decisions r¢qllLring Tru¥l¥¢s authvri5ation ￿thiCh were tsken betNYen the fLth nKet￿Ss wcrc agreed via email or lelephone and ratified at the next full Tw$iees meciillg. The tnL8t orerat¢$ und¢r Charily ComTnission's guidelines and follow$ 8dvi¢¢ fr1)￿ the A]msbouses Association. Poli¢i¢$ review¢d a regular basis. A ea$hEKK)k of receiFts a￿1 F8}Inents is nJ8ititain¢d by the Clerk (in line the Charities Aci requirements). SutiJmariLS uf Lxpenditute ar￿ income ate [C￿e5ved at each'fnJsle¢¥ m¢¥ting. R¢asons for i'ariation frotn budget are discussed and any rctnLQJ81 aciiun ]tquired is agreed l)y the Trustees. A Sn￿11 a]nount of pvlty ¢ash 15 held b}. the Scheme ma1￿8er ￿1th all exFtnditute bein8 checked and r6￿0￿ClIed bj the Clerk an a trriodic basis. Rlsk The tnL%tees hafvt a dw, to identjfy and revicw thL' Tisks to which the chaTsty" 15 expwsed and to ellsure appropriaiL contro15 arc in place to proi'ide reasonable as*uTan¢e a8ainst fraud and Lrror. Appr()ved by ord¢r of the board of trl￿e5 on...... . . aJMI 5igncd on its behalf by.. D Stsintuu- Tru51ec Pa8e 4

Independent Examiner's Report to the Trustees of The Aberford Almshouses

Independent examiner's report to the trustees of The Aberford Almshouses

I report to the charity trustees on my examination of the accounts of The Aberford Almshouses (the Trust) for the year ended 31st December 2021.

Responsibilities and basis of report

As the charity trustees of the Trust you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('the Act').

I report in respect of my examination of the Trust's accounts carried out under section 145 of the Act and in carrying out my examination I have followed all applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.

Independent examiner's statement

I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:

  1. accounting records were not kept in respect of the Trust as required by section 130 of the Act; or

  2. the accounts do not accord with those records; or

  3. the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination.

I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.

F M Metcalfe FCCA F E Metcalfe & Co Limited Chartered Accountants 4 Old Market Place Ripon North Yorkshire HG4 1EQ

Date: .............................................

Page 5

The Aberford Almshouses

Statement of Financial Activities For The Year Ended 31st December 2021

Unrestricted
funds
Notes
£
INCOME AND ENDOWMENTS FROM
Donations and legacies
2
37
Charitable activities
4
Social Housing
149,728
Investment income
3
2,591
Total
152,356
EXPENDITURE ON
Raising funds
56,462
Charitable activities
5
Social Housing
51,529
Total
107,991
Net gains/(losses) on investments
8,927
NET INCOME
53,292
RECONCILIATION OF FUNDS
Total funds brought forward
489,718
TOTAL FUNDS CARRIED FORWARD
543,010		 Restricted
funds
£
-
-
-
-
-
-
-
-
-
10,083
10,083		 31.12.21
31.12.20
Total
Total
funds
funds
£
£
37
17
149,728
147,907
2,591
2,931
152,356
150,855
56,462
63,655
51,529
49,762
107,991
113,417
8,927
(655)
53,292
36,783
499,801
463,018
553,093
499,801

The notes form part of these financial statements

Page 6

The Aberford Almshouses

Balance Sheet

31st December 2021

Notes
FIXED ASSETS
Tangible assets
9
CURRENT ASSETS
Debtors
10
Investments
11
Prepayments and accrued income
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
ACCRUALS AND DEFERRED INCOME
16
NET ASSETS		 Unrestricted
funds
£
2,083,754
191
90,121
2,753
127,648
220,713
(30,312)
190,401
2,274,155
(83,176)
(1,647,969)
543,010		 Restricted
funds
£
-
-
-
-
10,083
10,083
-
10,083
10,083
-
-
10,083		 31.12.21
Total
funds
£
2,083,754
191
90,121
2,753
137,731
230,796
(30,312)
200,484
2,284,238
(83,176)
(1,647,969)
553,093		 31.12.20
Total
funds
£
2,084,408
195
81,194
3,066
109,323
193,778
(29,558)
164,220
2,248,628
(100,858)
(1,647,969)
499,801

The notes form part of these financial statements

continued...

Page 7

ou ce Sheet- contin 31st Dtcenthe 202 17 lJnrestricted funds.. Gcneral fuTrJ Exttaordinao, R¢pain 449,363 93,647 411,095 78,623 i43,010 489.718 Restricted funds.. Gurfurth Old People's Shelter fund Ahns'house$ Ènd Land at Aberford 10,082 10,082 10,0¥3 10.081 TOTAL FUNDS 553,093 499.801 Thc r￿ll¢ Slatell￿llts iltr¢ apptol'ed by the Boanl of TnLStees ond authori8ed for issue 1.4. r.3.12L...... .. on . aTh4 ivere signed on its behalf by.. D Stsinlull- T R Reed. Trustee The llotC5 foLmpari of these fmaacial statell*ELts Pasc 8

The Aberford Almshouses

Notes to the Financial Statements

For The Year Ended 31st December 2021

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 Social Housing Providers SORP 2018 and 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.

Financial reporting standard 102 - reduced disclosure exemptions

The charity has taken advantage of the following disclosure exemptions in preparing these financial statements, as permitted by FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland':

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.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Fixtures and fittings - 15% on reducing balance

Depreciation is not charged on the housing properties as this is considered immaterial due to the very long useful economic life and high residual value.

Taxation

The charity is exempt from tax on its charitable activities.

Fund accounting

Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.

Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.

Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.

continued...

Page 9

The Aberford Almshouses

Notes to the Financial Statements - continued For The Year Ended 31st December 2021

2.
DONATIONS AND LEGACIES
Donations
3.
INVESTMENT INCOME
Bank account interest
COIF Income
NAACIF
4.
INCOME FROM CHARITABLE ACTIVITIES
Activity
Rents
Social Housing
Service charges
Social Housing
5.
CHARITABLE ACTIVITIES COSTS
Social Housing
6.
SUPPORT COSTS
Information
Management
technology
£
£
Social Housing
45,530
83
Support costs, included in the above, are as follows:
Management
Wages
Consultancy fees
Insurance
Regulation fee
Postage, stationery and telephone
TV Licence
Training fees		 31.12.21
£
37
31.12.21
£
22
257
2,312
2,591
31.12.21
£
148,619
1,109
149,728
Governance
Other
costs
£
£
3,144
2,772
31.12.21
Social
Housing
£
32,106
9,735
2,642
300
510
159
78
45,530		 31.12.20
£
17
31.12.20
£
227
252
2,452
2,931
31.12.20
£
146,800
1,107
147,907
Support
costs (see
note 6)
£
51,529
Totals
£
51,529
31.12.20
Total
activities
£
30,612
9,645
2,634
300
382
203
286
44,062

continued...

Page 10

The Aberford Almshouses

Notes to the Financial Statements - continued For The Year Ended 31st December 2021

6. SUPPORT COSTS - continued Information technology

----- Start of picture text -----
|||| |---|---|---| |31.12.21|31.12.20| |Social|Total| |Housing|activities| |£|£| |Computer and I.T expenses|83|80| |Other| |31.12.21|31.12.20| |Social|Total| |Housing|activities| |£|£| |Cleaning materials|89|183| |Subscriptions|956|475| |Garden maintenance|1,325|1,305| |Depreciation of tangible fixed assets|774|891| |3,144|2,854| |Governance costs| |31.12.21|31.12.20| |Social|Total| |Housing|activities| |£|£| |Accountancy|2,340|2,340| |Payroll fees|432|426| |2,772|2,766|

----- End of picture text -----

7. TRUSTEES' REMUNERATION AND BENEFITS

There were no trustees' remuneration or other benefits for the year ended 31st December 2021 nor for the year ended 31st December 2020.

Trustees' expenses

There were no trustees' expenses paid for the year ended 31st December 2021 nor for the year ended 31st December 2020.

8. STAFF COSTS

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

----- Start of picture text -----
|||| |---|---|---| |31.12.21|31.12.20| |Administration|2|2|

----- End of picture text -----

No employees received emoluments in excess of £60,000.

continued...

Page 11

The Aberford Almshouses

Notes to the Financial Statements - continued For The Year Ended 31st December 2021

9. TANGIBLE FIXED ASSETS

Freehold
property
£
COST
At 1st January 2021
2,079,378
Additions
-
At 31st December 2021
2,079,378
DEPRECIATION
At 1st January 2021
-
Charge for year
-
At 31st December 2021
-
NET BOOK VALUE
At 31st December 2021
2,079,378
At 31st December 2020
2,079,378
10.
DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
Rent arrears
11.
CURRENT ASSET INVESTMENTS
Listed investments
12.
CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
Other creditors		 Fixtures
and
fittings
£
34,415
120
34,535
29,385
774
30,159
4,376
5,030
31.12.21
£
191
31.12.21
£
90,121
31.12.21
£
30,312		 Totals
£
2,113,793
120
2,113,913
29,385
774
30,159
2,083,754
2,084,408
31.12.20
£
195
31.12.20
£
81,194
31.12.20
£
29,558

continued...

Page 12

The Aberford Almshouses

Notes to the Financial Statements - continued For The Year Ended 31st December 2021

13. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

Other creditors
14.
LOANS
An analysis of the maturity of loans is given below:
Amounts falling due within one year on demand:
Mortgage
Almshouse loan
Amounts falling between one and two years:
Mortgage - 1-2 years
Almshouse loan - 1-2years
Amounts falling due between two and five years:
Mortgage - 2-5 years
Almshouse loan - 2-5 years
Amounts falling due in more than five years:
Repayable by instalments:
Mortgage
15.
SECURED DEBTS
The following secured debts are included within creditors:
Mortgage
Almshouse loan		 31.12.21
£
83,176
31.12.21
£
16,055
1,575
17,630
16,055
1,575
17,630
48,164
788
48,952
16,594
31.12.21
£
96,868
3,938
100,806		 31.12.20
£
100,858
31.12.20
£
16,002
1,575
17,577
16,002
1,575
17,577
48,005
2,363
50,368
32,913
31.12.20
£
112,922
5,513
118,435

The mortgage is secured against the net book value of the properties.

The Almshouse loan is secured against the Almshouse properties held by the Charity.

continued...

Page 13

The Aberford Almshouses

Notes to the Financial Statements - continued For The Year Ended 31st December 2021

16. ACCRUALS AND DEFERRED INCOME

The Social Housing Grant was awarded as a contribution towards the capital costs of a scheme and is shown separately on the balance sheet under deferred income. This is due to the continued conditions that the grant would not be recovered until disposal of the property.

17. MOVEMENT IN FUNDS

Unrestricted funds
General fund
Extraordinary Repairs
Restricted funds
Garforth Old People's Shelter Fund
Almshouses and Land at Aberford
TOTAL FUNDS
Net movement in funds, included in the above are a
Unrestricted funds
General fund
TOTAL FUNDS
Comparatives for movement in funds
Unrestricted funds
General fund
Extraordinary Repairs
Restricted funds
Garforth Old People's Shelter Fund
Almshouses and Land at Aberford
TOTAL FUNDS		 At 1.1.21
£
411,095
78,623
489,718
10,082
1
10,083
499,801
s follows:
Incoming
resources
£
152,356
152,356
At 1.1.20
£
400,701
52,234
452,935
10,082
1
10,083
463,018		 Net
movement
in funds
£
53,292
-
53,292
-
-
-
53,292
Resources
expended
£
(107,991)
(107,991)
Net
movement
in funds
£
36,783
-
36,783
-
-
-
36,783		 Transfers
between
At
funds
31.12.21
£
£
(15,024)
449,363
15,024
93,647
-
543,010
-
10,082
-
1
-
10,083
-
553,093
Gains and
Movement
losses
in funds
£
£
8,927
53,292
8,927
53,292
Transfers
between
At
funds
31.12.20
£
£
(26,389)
411,095
26,389
78,623
-
489,718
-
10,082
-
1
-
10,083
-
499,801

continued...

Page 14

The Aberford Almshouses

Notes to the Financial Statements - continued For The Year Ended 31st December 2021

17. MOVEMENT IN FUNDS - continued

Comparative net movement in funds, included in the above are as follows:

Unrestricted funds
General fund
TOTAL FUNDS		 Incoming
resources
£
150,855
150,855		 Resources
expended
£
(113,417)
(113,417)		 Gains and
Movement
losses
in funds
£
£
(655)
36,783
(655)
36,783

A current year 12 months and prior year 12 months combined position is as follows:

Unrestricted funds
General fund
Extraordinary Repairs
Restricted funds
Garforth Old People's Shelter Fund
Almshouses and Land at Aberford
TOTAL FUNDS		 At 1.1.20
£
400,701
52,234
452,935
10,082
1
10,083
463,018		 Net
movement
in funds
£
90,075
-
90,075
-
-
-
90,075		 Transfers
between
funds
£
(41,413)
41,413
-
-
-
-
-		 At
31.12.21
£
449,363
93,647
543,010
10,082
1
10,083
553,093

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
TOTAL FUNDS		 Incoming
resources
£
303,211
303,211		 Resources
expended
£
(221,408)
(221,408)		 Gains and
Movement
losses
in funds
£
£
8,272
90,075
8,272
90,075

continued...

Page 15

The Aberford Almshouses

Notes to the Financial Statements - continued For The Year Ended 31st December 2021

18. RELATED PARTY DISCLOSURES

There were no related party transactions for the year ended 31st December 2021.

Page 16

The Aberford Almshouses

Detailed Statement of Financial Activities For The Year Ended 31st December 2021

31.12.21 31.12.20
£ £
INCOME AND ENDOWMENTS
Donations and legacies
Donations 37 17
Investment income
Bank account interest 22 227
COIF Income 257 252
NAACIF 2,312 2,452
Charitable activities 2,591 2,931
Rents 148,619 146,800
Service charges 1,109 1,107
149,728 147,907
Total incoming resources 152,356 150,855
EXPENDITURE
Raising income
Rates and water 3,882 8,470
Light and heat 28,567 27,739
Day to day repairs and maintenance 22,731 25,797
Mortgage interest 1,282 1,649
Support costs 56,462 63,655
Management
Wages 32,106 30,612
Consultancy fees 9,735 9,645
Insurance 2,642 2,634
Regulation fee 300 300
Postage, stationery and telephone 510 382
TV Licence 159 203
Training fees 78 286
45,530 44,062
Information technology
Computer and I.T expenses 83 80
Other
Cleaning materials 89 183
Subscriptions 956 475
Garden maintenance 1,325 1,305
Carried forward 2,370 1,963

This page does not form part of the statutory financial statements

Page 17

The Aberford Almshouses

Detailed Statement of Financial Activities
For The Year Ended 31st December 2021
31.12.21 31.12.20
£ £
Other
Brought forward 2,370 1,963
Depreciation on fixtures and fittings 774 891
Governance costs 3,144 2,854
Accountancy 2,340 2,340
Payroll fees 432 426
2,772 2,766
Total resources expended 107,991 113,417
Net income 44,365 37,438

This page does not form part of the statutory financial statements

Page 18