REGISTERED CHARITY NUMBER: 236902
Report of the Trustees and
Unaudited Financial Statements For The Year Ended 31st December 2023
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 2023
| 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 | 15 |
| Detailed Statement of Financial Activities | 16 | to | 17 |
The Aberford Almshouses
Reference and Administrative Details For The Year Ended 31st December 2023
TRUSTEES D Stainton Chairperson (resigned 11.3.23) C Hassell (resigned 30.4.26) R Reed Vice Chair C Wilton R Stephenson (resigned 4.7.25) A Hogg (resigned 1.4.23) Mrs N Griffiths Chairperson T Robbins (resigned 30.4.26) S Bradley (appointed 23.3.26) Cllr S J Firth (appointed 1.5.26) 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 2023
The Trustees present their report with the financial statements of the Charity for the year ended 31 December 2023. The Trustees have adopted the provisions of 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.
ACHIEVEMENTS 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 2023
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 £105,000 is held at the Co Operative bank.
Additional reserve funds in excess of £23,000 are held in the Charities Official Investment Fund managed by CCLA.
The Charity also holds reserves in excess of £60,000 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.
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).
Recruitment and appointment of new trustees
The are no specific requirements in the Charity deed relating to the appointment of Trustees.
The Trustees may appoint a Clergyman of the Church of England and have sought to have a representative from Leeds City Council on the Board.
Other than the above, new Trustees are approached based on the personal recommendations of those already on the Board.
Page 3
The Aberford Almshouses
Report of the Trustees For The Year Ended 31st December 2023
STRUCTURE, GOVERNANCE AND MANAGEMENT
Organisational structure
The Charity operates twenty eight almshouses located at Parlington House, Beech View, Aberford.
Decision making
The Charity is managed by a Board of Trustees.
During 2023 the Trust had eight Trustees who met on a regular basis.
Any decisions requiring Trustees authorisation which were taken between the full meetings were agreed via email or telephone and ratified at the next full Trustees meeting.
The trust operates under the Charity Commission's guidelines and follows advice from the Almshouses Association.
Policies are reviewed on a regular basis.
A cashbook of receipts and payments is maintained by the Clerk (in line with the Charities Act requirements). Summaries of all expenditure and income are reviewed at each Trustees meeting. Reasons for variation from budget are discussed and any remedial action required is agreed by the Trustees. A small amount of petty cash is held by the Scheme Manager with all expenditure being checked and reconciled by the Clerk on a periodic basis.
Risk management
The trustees have a duty to identify and review the risks to which the charity is exposed and to ensure appropriate controls are in place to provide reasonable assurance against fraud and error.
Approved by order of the board of trustees on ............................................. and signed on its behalf by:
........................................................................ R Reed - Trustee
Page 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 2023.
Responsibilities and basis of report
As the charity trustees of the Trust you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('the Act').
I report in respect of my examination of the Trust's accounts carried out under Section 145 of the Act and in carrying out my examination I have followed all applicable Directions given by the Charity Commission under Section 145(5)(b) of the Act.
Independent examiner's statement
I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
-
accounting records were not kept in respect of the Trust as required by Section 130 of the Act; or
-
the accounts do not accord with those records; or
-
the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination.
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
G L Evans
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 2023
| Unrestricted funds Notes £ INCOME AND ENDOWMENTS FROM Donations and legacies 2 31 Charitable activities 4 Social Housing 137,477 Investment income 3 4,405 Total 141,913 EXPENDITURE ON Raising funds 99,381 Charitable activities 5 Social Housing 59,863 Total 159,244 Net gains/(losses) on investments 3,701 NET INCOME/(EXPENDITURE) (13,630) RECONCILIATION OF FUNDS Total funds brought forward 570,673 TOTAL FUNDS CARRIED FORWARD 557,043 |
Restricted funds £ - - - - - - - - - 10,083 10,083 |
31.12.23 31.12.22 Total Total funds funds £ £ 31 22 137,477 145,248 4,405 2,879 141,913 148,149 99,381 58,807 59,863 57,063 159,244 115,870 3,701 (4,616) (13,630) 27,663 580,756 553,093 567,126 580,756 |
|---|---|---|
The notes form part of these financial statements
Page 6
The Aberford Almshouses
Balance Sheet
31st December 2023
| Notes FIXED ASSETS Tangible assets 9 CURRENT ASSETS Investments 10 Prepayments and accrued income Cash at bank and in hand CREDITORS Amounts falling due within one year 11 NET CURRENT ASSETS TOTAL ASSETS LESS CURRENT LIABILITIES CREDITORS Amounts falling due after more than one year 12 ACCRUALS AND DEFERRED INCOME 15 NET ASSETS |
Unrestricted funds £ 2,082,392 89,206 2,555 108,104 199,865 (25,316) 174,549 2,256,941 (51,929) (1,647,969) 557,043 |
Restricted funds £ - - - 10,083 10,083 - 10,083 10,083 - - 10,083 |
31.12.23 Total funds £ 2,082,392 89,206 2,555 118,187 209,948 (25,316) 184,632 2,267,024 (51,929) (1,647,969) 567,126 |
31.12.22 Total funds £ 2,083,102 85,505 2,036 157,070 244,611 (31,886) 212,725 2,295,827 (67,102) (1,647,969) 580,756 |
|---|---|---|---|---|
The notes form part of these financial statements
continued...
Page 7
The Aberford Almshouses
Balance Sheet - continued
31st December 2023
| FUNDS 16 Unrestricted funds: General fund Extraordinary Repairs Restricted funds: Garforth Old People's Shelter Fund Almshouses and Land at Aberford TOTAL FUNDS |
448,982 108,061 557,043 10,082 1 10,083 567,126 |
471,898 98,775 570,673 10,082 1 10,083 580,756 |
|---|---|---|
The financial statements were approved by the Board of Trustees and authorised for issue on ............................................. and were signed on its behalf by:
............................................. N Griffiths - Trustee
............................................. R Reed - Trustee
The notes form part of these financial statements
Page 8
The Aberford Almshouses
Notes to the Financial Statements For The Year Ended 31st December 2023
1. ACCOUNTING POLICIES
Basis of preparing the financial statements
The financial statements of the Charity, which is a public benefit entity under FRS 102, have been prepared in accordance with the 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)' and the Charities Act 2011. The financial statements have been prepared under the historical cost convention.
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.
2. DONATIONS AND LEGACIES
Donations
| 31.12.23 | 31.12.22 |
|---|---|
| £ | £ |
| 31 | 22 |
continued...
Page 9
The Aberford Almshouses
Notes to the Financial Statements - continued For The Year Ended 31st December 2023
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 54,045 137 Support costs, included in the above, are as follows: Management Wages Consultancy fees Insurance Regulation fee Postage, stationery and telephone TV Licence Training fees Quinquennial inspection |
31.12.23 £ 1,478 265 2,662 4,405 31.12.23 £ 136,492 985 137,477 Governance Other costs £ £ 2,769 2,912 31.12.23 Social Housing £ 39,434 10,140 3,097 300 663 159 252 - 54,045 |
31.12.22 £ 163 264 2,452 2,879 31.12.22 £ 144,258 990 145,248 Support costs (see note 6) £ 59,863 Totals £ 59,863 31.12.22 Total activities £ 34,882 10,050 2,730 300 495 159 - 2,994 51,610 |
|---|---|---|
continued...
Page 10
The Aberford Almshouses
Notes to the Financial Statements - continued For The Year Ended 31st December 2023
6. SUPPORT COSTS - continued Information technology
----- Start of picture text -----
||||
|---|---|---|
|31.12.23|31.12.22|
|Social|Total|
|Housing|activities|
|£|£|
|Computer and I.T expenses|137|137|
|Other|
|31.12.23|31.12.22|
|Social|Total|
|Housing|activities|
|£|£|
|Cleaning materials|122|190|
|Sundries|26|-|
|Subscriptions|494|438|
|Garden maintenance|1,417|1,264|
|Depreciation of tangible fixed assets|533|652|
|Loss on disposal of tangible fixed assets|177|-|
|2,769|2,544|
|Governance costs|
|31.12.23|31.12.22|
|Social|Total|
|Housing|activities|
|£|£|
|Accountancy|2,544|2,340|
|Payroll fees|368|432|
|2,912|2,772|
----- End of picture text -----
7. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the year ended 31st December 2023 nor for the year ended 31st December 2022.
Trustees' expenses
There were no trustees' expenses paid for the year ended 31st December 2023 nor for the year ended 31st December 2022.
8. STAFF COSTS
The average monthly number of employees during the year was as follows:
----- Start of picture text -----
||||
|---|---|---|
|31.12.23|31.12.22|
|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 2023
9. TANGIBLE FIXED ASSETS
| Fixtures Freehold and property fittings £ £ COST At 1st January 2023 2,079,378 34,535 Disposals - (2,666) At 31st December 2023 2,079,378 31,869 DEPRECIATION At 1st January 2023 - 30,811 Charge for year - 533 Eliminated on disposal - (2,489) At 31st December 2023 - 28,855 NET BOOK VALUE At 31st December 2023 2,079,378 3,014 At 31st December 2022 2,079,378 3,724 10. CURRENT ASSET INVESTMENTS 31.12.23 £ Listed investments 89,206 11. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 31.12.23 £ Other creditors 25,316 12. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR 31.12.23 £ Other creditors 51,929 13. LOANS An analysis of the maturity of loans is given below: 31.12.23 £ Amounts falling due within one year on demand: Mortgage 14,831 Almshouse loan - 14,831 |
Totals £ 2,113,913 (2,666) 2,111,247 30,811 533 (2,489) 28,855 2,082,392 2,083,102 31.12.22 £ 85,505 31.12.22 £ 31,886 31.12.22 £ 67,102 31.12.22 £ 15,276 1,575 16,851 |
|
|---|---|---|
continued...
Page 12
The Aberford Almshouses
Notes to the Financial Statements - continued For The Year Ended 31st December 2023
13. LOANS - continued
| LOANS - continued | ||
|---|---|---|
| 31.12.23 | 31.12.22 | |
| £ | £ | |
| Amounts falling between one and two years: | ||
| Mortgage - 1-2 years | 14,831 | 15,276 |
| Almshouse loan - 1-2years | - | 788 |
| 14,831 | 16,064 | |
| Amounts falling due between two and five years: Mortgage - 2-5 years |
37,098 | 45,829 |
| Amounts falling due in more than five years: Repayable by instalments: Mortgage SECURED DEBTS The following secured debts are included within creditors: Mortgage Almshouse loan |
- 31.12.23 £ 66,760 - |
5,209 31.12.22 £ 81,590 2,363 |
| 66,760 | 83,953 |
14. SECURED DEBTS
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.
15. 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.
16. 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 1.1.23 £ 471,898 98,775 570,673 10,082 1 10,083 580,756 |
Net movement in funds £ (7,095) (6,535) (13,630) - - - (13,630) |
Transfers between funds £ (15,821) 15,821 - - - - - |
At 31.12.23 £ 448,982 108,061 557,043 10,082 1 10,083 567,126 |
|---|---|---|---|---|
continued...
Page 13
The Aberford Almshouses
Notes to the Financial Statements - continued For The Year Ended 31st December 2023
16. MOVEMENT IN FUNDS - continued
Net movement in funds, included in the above are as follows:
| Incoming Resources resources expended £ £ Unrestricted funds General fund 141,913 (152,709) Extraordinary Repairs - (6,535) 141,913 (159,244) TOTAL FUNDS 141,913 (159,244) Comparatives for movement in funds Net movement At 1.1.22 in funds £ £ Unrestricted funds General fund 449,363 27,663 Extraordinary Repairs 93,647 - 543,010 27,663 Restricted funds Garforth Old People's Shelter Fund 10,082 - Almshouses and Land at Aberford 1 - 10,083 - TOTAL FUNDS 553,093 27,663 Comparative net movement in funds, included in the above are as follows: Incoming Resources resources expended £ £ Unrestricted funds General fund 148,149 (115,870) TOTAL FUNDS 148,149 (115,870) |
Gains and Movement losses in funds £ £ 3,701 (7,095) - (6,535) 3,701 (13,630) 3,701 (13,630) Transfers between At funds 31.12.22 £ £ (5,128) 471,898 5,128 98,775 - 570,673 - 10,082 - 1 - 10,083 - 580,756 Gains and Movement losses in funds £ £ (4,616) 27,663 (4,616) 27,663 |
|---|---|
continued...
Page 14
The Aberford Almshouses
Notes to the Financial Statements - continued For The Year Ended 31st December 2023
16. MOVEMENT IN FUNDS - continued
A current year 12 months and prior year 12 months combined position is as follows:
| Unrestricted funds General fund Extraordinary Repairs Restricted funds Garforth Old People's Shelter Fund Almshouses and Land at Aberford TOTAL FUNDS |
At 1.1.22 £ 449,363 93,647 543,010 10,082 1 10,083 553,093 |
Net movement in funds £ 20,568 (6,535) 14,033 - - - 14,033 |
Transfers between funds £ (20,949) 20,949 - - - - - |
At 31.12.23 £ 448,982 108,061 557,043 10,082 1 10,083 567,126 |
|---|---|---|---|---|
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 Extraordinary Repairs TOTAL FUNDS |
Incoming resources £ 290,062 - 290,062 290,062 |
Resources expended £ (268,579) (6,535) (275,114) (275,114) |
Gains and Movemen losses in funds £ £ (915) 20,568 - (6,535) (915) 14,033 (915) 14,033 |
|---|---|---|---|
17. RELATED PARTY DISCLOSURES
There were no related party transactions for the year ended 31st December 2023.
Page 15
The Aberford Almshouses
Detailed Statement of Financial Activities For The Year Ended 31st December 2023
| 31.12.23 | 31.12.22 | |
|---|---|---|
| £ | £ | |
| INCOME AND ENDOWMENTS | ||
| Donations and legacies | ||
| Donations | 31 | 22 |
| Investment income | ||
| Bank account interest | 1,478 | 163 |
| COIF Income | 265 | 264 |
| NAACIF | 2,662 | 2,452 |
| Charitable activities | 4,405 | 2,879 |
| Rents | 136,492 | 144,258 |
| Service charges | 985 | 990 |
| 137,477 | 145,248 | |
| Total incoming resources | 141,913 | 148,149 |
| EXPENDITURE | ||
| Raising income | ||
| Rates and water | 9,099 | 2,769 |
| Light and heat | 52,663 | 41,138 |
| Day to day repairs and maintenance | 26,789 | 12,628 |
| Major extraordinary repairs | 6,535 | - |
| Mortgage interest | 4,295 | 2,272 |
| Support costs | 99,381 | 58,807 |
| Management | ||
| Wages | 39,434 | 34,882 |
| Consultancy fees | 10,140 | 10,050 |
| Insurance | 3,097 | 2,730 |
| Regulation fee | 300 | 300 |
| Postage, stationery and telephone | 663 | 495 |
| TV Licence | 159 | 159 |
| Training fees | 252 | - |
| Quinquennial inspection | - | 2,994 |
| 54,045 | 51,610 | |
| Information technology | ||
| Computer and I.T expenses | 137 | 137 |
| Other | ||
| Cleaning materials | 122 | 190 |
| Carried forward | 122 | 190 |
This page does not form part of the statutory financial statements
Page 16
The Aberford Almshouses
| Detailed Statement of Financial Activities | ||
|---|---|---|
| For The Year Ended 31st December 2023 | ||
| 31.12.23 | 31.12.22 | |
| £ | £ | |
| Other | ||
| Brought forward | 122 | 190 |
| Sundries | 26 | - |
| Subscriptions | 494 | 438 |
| Garden maintenance | 1,417 | 1,264 |
| Depreciation on fixtures and fittings | 533 | 652 |
| Loss on disposal of tangible fixed assets | 177 | - |
| Governance costs | 2,769 | 2,544 |
| Accountancy | 2,544 | 2,340 |
| Payroll fees | 368 | 432 |
| 2,912 | 2,772 | |
| Total resources expended | 159,244 | 115,870 |
| Net (expenditure)/income | (17,331) | 32,279 |
This page does not form part of the statutory financial statements
Page 17