REGISTERED CHARITY NUMBER: 237057
REPORT OF THE TRUSTEES AND
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021
FOR
CONSOLIDATED ALMSHOUSE CHARITY OF
SWANSCOMBE
The Carley Partnership
St James's House
8 Overcliffe
Gravesend
Kent
DA11 0HJ
CONSOLIDATED ALMSHOUSE CHARITY OF
SWANSCOMBE
CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021
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Page
Report of the Trustees 1 to 3
Independent Examiner's Report 4
Statement of Financial Activities 5
Balance Sheet 6
Notes to the Financial Statements 7 to 12
Detailed Statement of Financial Activities 13
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CONSOLIDATED ALMSHOUSE CHARITY OF
SWANSCOMBE
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2021
The trustees present their report and accounts for the year ended 31st March 2021. The trustees have adopted the
provisionsoftheStatementofRecommendedPractice(SORPFRS102)'AccountingandReportingbyCharities'issued in
2016. The trust is regulated by a Scheme of the Charity Commissioners dated 16th July 1980.
OBJECTIVES AND ACTIVITIES
Objectives and aims
TheCharity'smainobjectiveistoprovideunfurnisheddwellings,usuallyspeciallydesignedwiththeneedsofolder people
inmind.Theaimistoprovideconvenientandcomfortableaccommodationinasettingwhichallowsresidentsto come
andgoastheyplease.Thetrusteesendeavourtomaintainthealmshousebuildinginasoundandpleasantcondition and
carry out improvements whenever a need appears, in order to make life as enjoyable as possible for the residents.
Public benefit
TheTrusteeshavehaddueregardstotheCharityCommission'sguidanceonpublicbenefitwhensettingthe charities
objectives.
ACHIEVEMENT AND PERFORMANCE
Charitable activities
The Trustees have faced a unique year in 2021 and continue to support our beneficiaries during Covid-19.
Thepandemicchangedhowweinteractedwithourbeneficiariesmeaningthattoreduceriskcontactwaslimited to
phone calls and emails.
TheTrusteescontinuetoinvestinthefutureoftheAlmshousebyimprovingstandardsattheMiltonStreetproperties, we
nowhaveadedicatedcleanerwholooksafterallcommunalareasandwindowsarecleanedoutsideto maintain
standards.
ThetrusteesnoticedthattheMiltonStreetpropertieswerenotcorrectlyregisteredinthecharity'snameand instructed
Moore Barlow to correct this issue so that the charity assets remain safeguarded.
ThecharitywasapproachedbyDartfordCouncilregardingabrownfieldsitetotherearoftheMiltonStreetproperties the
formed2ndSwanscombeScoutHallandtrusteesagreedtopurchasethissitefromthecouncilwiththeviewof building
out new properties to expand our offering in Swanscombe and Greenhithe. This was completed using our reserves.
ThecharityjoinedforceswiththeAlmshouseConsortiumwhowillbeprovidinguswiththesupportforour Homes
Englandapplicationtobecomearegisteredsocialhousingproviderwhichwillunlockthegrantneededtobuildthe new
properties.
Allofthecharitypropertyremainedfullyletduringtheaccountingperiodandwelookforwardto2022oncontinuing to
develop the Charity and support its beneficiaries so that the charity can become self-supporting in the future.
FINANCIAL REVIEW
Financial position
TheTrusteesarepleasedwiththestandardsofour5propertiesandhavereviewedourcurrentofferingandagree that
weshouldmoveintoarepairandmaintainapproachforthenexttwoyearsonthesepropertiesandreviewagain. This
means we will be accumulating reserves.
Theloaninterestrateenvironmentistakingitstolloncashreturnsbutgivencashmaybeneededinthefuturefor our
expansion plans it makes sense to have the reserve retain as cash.
Trusteesareawarethatthecharityneedstorecruitnewtrusteesandareworkingwithothercharitiestoshare trustees
where possible as we attract new trustees.
Investment policy and objectives
Thetrusteesareoperatingacashandholdinvestmentpolicy,giventhatcashwillbeneededduringthebuildingof our
newbungalows.WehavehadourpropertiesvaluedaspartoftheHomesEnglandregistrationprocessandwe know
that we can increase our weekly maintenance charge further as needed but when the time is right for the charity.
Reserves policy
Thetwofundsareforthegoodmaintenanceoftheproperty,thefirstistocoverthecyclicalcostofrepairsand we
believe the £30,000 we hold is more than sufficient. The balance of cash is held for the development of the charity.
Page 1
CONSOLIDATED ALMSHOUSE CHARITY OF
SWANSCOMBE
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2021
FINANCIAL REVIEW
Going concern
The Trustees currently have no concerns regarding the future of the charity.
FUTURE PLANS
The charity is looking to:
1. Become a registered social housing provider
2. Build 5 new bungalows
3. Explore potential mergers with other local charities that offer the same services as ours with a view to reducing costs and growing the charity.
4.PurchasetheothertwobungalowsatBirdsRowMiltonStreetasandwhentheycometothepublicmarketfor
purchase but only if the charity has the financial provision and demand to do so.
STRUCTURE, GOVERNANCE AND MANAGEMENT Governing document
The charity is controlled by its governing document, a deed of trust and constitutes an unincorporated charity.
Management and Governance Arrangement
TheTrustDeedchargesthetrusteeswiththeadministrationandmanagementofthetrust.TheBoardofTrustees ideally
consistsoftwonominativetrusteesandthreeco-optativetrustees,theformertobeappointedbytheParishCouncil of
SwanscombeandthelatterappointedbytheBoardofTrustees.Nominativetrusteesshallholdtheirappointmentfor four
yearsandco-optativetrusteesforfiveyears.Newlyappointedtrusteesshallbesuppliedwith:acopyoftheTrust Deeds;
acopyofthelatestfinancialstatements;andreceivetrainingconsistentwiththeirlevelofknowledgeandexperience of
their role of trustees, including a copy of the current guidance as issued by the Charity Commission.
TrusteeswillholdatleasttwomeetingseachyearandasmanyothermeetingsastheChairmanortwoother Trustees
deem necessary to discuss matters arising.
REFERENCE AND ADMINISTRATIVE DETAILS Registered Charity number
237057
Principal address
18 Caspian Way
Swanscombe
Kent
DA10 0LE
Trustees
Mr Anthony Norman (resigned 29/7/2021)
Mr Andrew Griggs
Mrs Marion Needham
Mr Robert Weller
Mr Glen Keeling
Mr Andrew Chambers (resigned 22/4/2021)
Independent Examiner
The Carley Partnership
St James's House
8 Overcliffe
Gravesend
Kent
DA11 0HJ
Page 2
CONSOLIDATED ALMSHOUSE CHARITY OF
SWANSCOMBE
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2021
REFERENCE AND ADMINISTRATIVE DETAILS
Bankers
Barclays Bank Plc
BO Box 449
Dartford
Kent
DA1 1FE
CAF Bank Ltd
25 Kings Hill Avenue
West Malling
Kent
ME19 4JQ
Approved by order of the board of trustees on 9 March 2022 and signed on its behalf by:
Mr Glen Keeling - Trustee
Page 3
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF CONSOLIDATED ALMSHOUSE CHARITY OF SWANSCOMBE
Independent examiner's report to the trustees of Consolidated Almshouse Charity of Swanscombe
IreporttothecharitytrusteesonmyexaminationoftheaccountsofConsolidatedAlmshouseCharityof Swanscombe
(the Trust) for the year ended 31 March 2021.
Responsibilities and basis of report
AsthecharitytrusteesoftheTrustyouareresponsibleforthepreparationoftheaccountsinaccordancewith the
requirements of the Charities Act 2011 ('the Act').
IreportinrespectofmyexaminationoftheTrust'saccountscarriedoutundersection145oftheActandincarrying out
myexaminationIhavefollowedallapplicableDirectionsgivenbytheCharityCommissionundersection145(5)(b)of the
Act.
Independent examiner's statement
Ihavecompletedmyexamination.Iconfirmthatnomaterialmattershavecometomyattentioninconnectionwith 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.
Ihavenoconcernsandhavecomeacrossnoothermattersinconnectionwiththeexaminationtowhichattention should
be drawn in this report in order to enable a proper understanding of the accounts to be reached.
C M Ralph
The Carley Partnership
St James's House
8 Overcliffe
Gravesend
Kent
DA11 0HJ
9 March 2022
Page 4
CONSOLIDATED ALMSHOUSE CHARITY OF
SWANSCOMBE
STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2021
2021
Unrestricted
funds
Notes
£
INCOME AND ENDOWMENTS FROM
Donations and legacies
16
Charitable activities
Rental of almshouses
30,210
Investment income
2
1,035
Total
31,261
EXPENDITURE ON
Raising funds
3
15,906
Charitable activities
Rental of almshouses
12,560
Total
28,466
Net gains on investments
7,453
NET INCOME
10,248
RECONCILIATION OF FUNDS
Total funds brought forward
665,403
TOTAL FUNDS CARRIED FORWARD
675,651 |
2020
Total
funds
£
10
25,582
5,711 |
|
31,303
20,931
4,454 |
|
25,385
975 |
|
6,893
658,510 |
|
665,403 |
The notes form part of these financial statements
Page 5
CONSOLIDATED ALMSHOUSE CHARITY OF
SWANSCOMBE
BALANCE SHEET 31 MARCH 2021
Notes
FIXED ASSETS
Tangible assets
8
Investments
9
CURRENT ASSETS
Debtors
10
Cash at bank
CREDITORS
Amounts falling due within one year
11
NET CURRENT ASSETS
TOTAL ASSETS LESS CURRENT LIABILITIES
NET ASSETS
FUNDS
12
Unrestricted funds
TOTAL FUNDS |
2021
Unrestricted
funds
£
575,490
-
575,490
2,441
98,846
101,287
(1,126)
100,161
675,651
675,651
675,651
675,651 |
2020
Total
funds
£
513,217
53,315
566,532
2,285
105,531
107,816
(8,945)
98,871
665,403
665,403
665,403
665,403 |
|
|
|
ThefinancialstatementswereapprovedbytheBoardofTrusteesandauthorisedforissueon9March2022and were
signed on its behalf by:
Mr Glen Keeling - Trustee
The notes form part of these financial statements
Page 6
CONSOLIDATED ALMSHOUSE CHARITY OF
SWANSCOMBE
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2021
1. ACCOUNTING POLICIES
Basis of preparing the financial statements
Thefinancialstatementsofthecharity,whichisapublicbenefitentityunderFRS102,havebeenprepared in
accordancewiththeCharitiesSORP(FRS102)'AccountingandReportingbyCharities:Statement of
RecommendedPracticeapplicabletocharitiespreparingtheiraccountsinaccordancewiththeFinancial Reporting
StandardapplicableintheUKandRepublicofIreland(FRS102)(effective1January2019)',Financial Reporting
Standard102'TheFinancialReportingStandardapplicableintheUKandRepublicofIreland'andthe Charities
Act2011.Thefinancialstatementshavebeenpreparedunderthehistoricalcostconvention,withthe exception
of investments which are included at market value, as modified by the revaluation of certain assets.
Income
AllincomeisrecognisedintheStatementofFinancialActivitiesoncethecharityhasentitlementtothefunds,it is
probable that the income will be received and the amount can be measured reliably.
Expenditure
Liabilitiesarerecognisedasexpenditureassoonasthereisalegalorconstructiveobligationcommitting the
charitytothatexpenditure,itisprobablethatatransferofeconomicbenefitswillberequiredinsettlement and
theamountoftheobligationcanbemeasuredreliably.Expenditureisaccountedforonanaccrualsbasisand has
beenclassifiedunderheadingsthataggregateallcostrelatedtothecategory.Wherecostscannotbe directly
attributedtoparticularheadingstheyhavebeenallocatedtoactivitiesonabasisconsistentwiththeuse of
resources.
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.
Restrictedfundscanonlybeusedforparticularrestrictedpurposeswithintheobjectsofthecharity. 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.
Legal status
The charity is a public benefit entity.
Going Concern
There are no material uncertainties about the charity's ability to continue.
2. INVESTMENT INCOME
INVESTMENT INCOME |
|
|
|
2021 |
2020 |
|
£ |
£ |
Dividend income |
1,020 |
5,282 |
Deposit account interest |
15 |
429 |
|
1,035 |
5,711 |
continued...
Page 7
CONSOLIDATED ALMSHOUSE CHARITY OF
SWANSCOMBE
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2021
3. RAISING FUNDS
Investment management costs
Investment management costs |
|
|
|
2021 |
2020 |
|
£ |
£ |
Property repairs |
15,906 |
20,657 |
4. TRUSTEES' REMUNERATION AND BENEFITS
Notrusteereceivedanyremunerationoranyotherbenefitduringtheyear.Notrusteeorotherpersonrelated to
thecharityhadanypersonalinterestinanycontractortransactionenteredintobythecharityduringthe year
(2020: £Nil).
Trustees' expenses
There were no trustees' expenses paid for the year ended 31 March 2021 nor for the year ended 31 March 2020.
5. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
|
Unrestricted |
|
funds |
|
£ |
INCOME AND ENDOWMENTS FROM |
|
Donations and legacies |
10 |
Charitable activities |
|
Rental of almshouses |
25,582 |
Investment income |
5,711 |
Total |
31,303 |
EXPENDITURE ON |
|
Raising funds |
20,931 |
Charitable activities |
|
Rental of almshouses |
4,454 |
Total |
25,385 |
Net gains on investments |
975 |
NET INCOME |
6,893 |
RECONCILIATION OF FUNDS |
|
Total funds brought forward |
658,510 |
TOTAL FUNDS CARRIED FORWARD |
665,403 |
continued...
Page 8
CONSOLIDATED ALMSHOUSE CHARITY OF
SWANSCOMBE
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2021
6. INDEPENDENT EXAMINER'S FEE
Inrespectofthe£960(2020:£924)payabletotheindependentexaminerfortheyear,£275(2020:£250)is for
the independent examination and £685 (2020: £674) relates to accountancy services.
7. STAFF SALARIES
There were no salaries paid by the charity for the year ended 31st March 2021 (2020: Nil).
8. TANGIBLE FIXED ASSETS
TANGIBLE FIXED ASSETS |
|
COST
At 1 April 2020
Additions
At 31 March 2021
NET BOOK VALUE
At 31 March 2021
At 31 March 2020 |
Freehold
property
£
513,217
62,273 |
|
575,490 |
|
575,490 |
|
513,217 |
9. FIXED ASSET INVESTMENTS
There were no investment assets outside the UK.
Cost or valuation at 31 March 2021 is represented by:
|
|
Unlisted |
|
|
investments |
|
|
£ |
Valuation in |
2021 |
(53,315) |
Valuation in |
2020 |
975 |
Cost |
|
52,340 |
The analysis of investments is as follows:-
|
2021 |
2020 |
|
£ |
£ |
COIF Charities Investment Fund |
0 |
39,325 |
National Association of Almshouses Common |
|
|
Investment Fund |
|
|
- 187.36 Accumulation shares (545.64 shares sold in year) |
0 |
13,990 |
|
|
|
|
|
|
|
0 |
53,315 |
|
|
|
continued...
Page 9
CONSOLIDATED ALMSHOUSE CHARITY OF
SWANSCOMBE
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2021
10. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
Trade debtors
Other debtors
11.
CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
Payments on account
Trade creditors
Other creditors
12.
MOVEMENT IN FUNDS
At 1.4.20
£
Unrestricted funds
General fund
138,196
Extraordinary repair fund
13,990
Almhouses fund
513,217
665,403
TOTAL FUNDS
665,403
Net movement in funds, included in the above are as follows:
Incoming
resources
£
Unrestricted funds
General fund
31,261
TOTAL FUNDS
31,261 |
Net
movement
in funds
£
10,248
-
-
10,248
10,248
Resources
expended
£
(28,466)
(28,466) |
2021
2020
£
£
1,441
2,285
1,000
-
2,441
2,285
2021
2020
£
£
-
971
165
7,074
961
900
1,126
8,945
Transfers
between
At
funds
31.3.21
£
£
(48,283)
100,161
(13,990)
-
62,273
575,490
-
675,651
-
675,651
Gains and
Movement
losses
in funds
£
£
7,453
10,248
7,453
10,248 |
2020
£
2,285
-
2,285
2020
£
971
7,074
900
8,945
At
31.3.21
£
100,161
-
575,490 |
2020
£
2,285
-
2,285
2020
£
971
7,074
900
8,945
At
31.3.21
£
100,161
-
575,490 |
2020
£
2,285
- |
|
|
|
|
|
2,285 |
|
|
|
|
|
2020
£
971
7,074
900 |
|
|
|
|
|
8,945 |
|
|
|
675,651 |
|
|
|
|
|
675,651 |
|
|
|
|
|
|
10,248 |
|
continued...
Page 10
CONSOLIDATED ALMSHOUSE CHARITY OF
SWANSCOMBE
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2021
12. MOVEMENT IN FUNDS - continued
Comparatives for movement in funds
Unrestricted funds
General fund
Extraordinary repair fund
Almhouses fund
Cyclical maintenance fund
TOTAL FUNDS |
At 1.4.19
£
203,476
120,000
305,034
30,000
658,510
658,510 |
Net
movement
in funds
£
6,893
-
-
-
6,893
6,893 |
Transfers
between
funds
£
(72,173)
(106,010)
208,183
(30,000)
-
- |
At
31.3.20
£
138,196
13,990
513,217
- |
|
|
|
|
665,403 |
|
|
|
|
665,403 |
Comparative net movement in funds, included in the above are as follows:
|
Incoming |
Resources |
Gains and |
Movement |
|
resources |
expended |
losses |
in funds |
|
£ |
£ |
£ |
£ |
Unrestricted funds |
|
|
|
|
General fund |
31,303 |
(25,385) |
975 |
6,893 |
TOTAL FUNDS |
31,303 |
(25,385) |
975 |
6,893 |
A current year 12 months and prior year 12 months combined position is as follows:
Unrestricted funds
General fund
Extraordinary repair fund
Almhouses fund
Cyclical maintenance fund
TOTAL FUNDS |
At 1.4.19
£
203,476
120,000
305,034
30,000
658,510
658,510 |
Net
movement
in funds
£
17,141
-
-
-
17,141
17,141 |
Transfers
between
funds
£
(120,456)
(120,000)
270,456
(30,000)
-
- |
At
31.3.21
£
100,161
-
575,490
- |
|
|
|
|
675,651 |
|
|
|
|
675,651 |
Acurrentyear12monthsandprioryear12monthscombinednetmovementinfunds,includedintheabove are
as follows:
|
Incoming |
Resources |
Gains and |
Movement |
|
resources |
expended |
losses |
in funds |
|
£ |
£ |
£ |
£ |
Unrestricted funds |
|
|
|
|
General fund |
62,564 |
(53,851) |
8,428 |
17,141 |
TOTAL FUNDS |
62,564 |
(53,851) |
8,428 |
17,141 |
continued...
Page 11
CONSOLIDATED ALMSHOUSE CHARITY OF
SWANSCOMBE
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2021
13. CONTINGENT LIABILITIES
Thereisacontingentliabilityinrespectofagrantfor£52,090shouldthesuccessortothegrantorbeable to
authenticateanentitlementtorepaymentandtheirrighttoreceivethatrepayment.Atpresentneitherthe right
to repayment nor the party entitled to such repayment are known to the trustees.
14. RELATED PARTY DISCLOSURES
Therewerenorelatedpartytransactionsfortheyearended31stMarch2021norfortheyearended31st March
2020.
Page 12
CONSOLIDATED ALMSHOUSE CHARITY OF
SWANSCOMBE
DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2021
|
2021 |
2020 |
|
£ |
£ |
INCOME AND ENDOWMENTS |
|
|
Donations and legacies |
|
|
Donations |
16 |
10 |
Investment income |
|
|
Dividend income |
1,020 |
5,282 |
Deposit account interest |
15 |
429 |
|
1,035 |
5,711 |
Charitable activities |
|
|
Rent receivable |
30,210 |
25,582 |
Total incoming resources |
31,261 |
31,303 |
EXPENDITURE |
|
|
Investment management costs |
|
|
Property repairs |
15,906 |
20,657 |
Charitable activities |
|
|
Rates and water |
185 |
866 |
Insurance |
972 |
833 |
Light and heat |
169 |
180 |
Sundries |
501 |
100 |
Gardening |
769 |
361 |
Routine maintenance |
3,737 |
1,146 |
|
6,333 |
3,486 |
Support costs |
|
|
Finance |
|
|
Bank charges |
- |
60 |
Other |
|
|
Administrative expenses |
261 |
282 |
Governance costs |
|
|
Accountancy |
984 |
900 |
Legal & professional |
4,982 |
- |
|
5,966 |
900 |
Total resources expended |
28,466 |
25,385 |
Net income before gains and losses |
2,795 |
5,918 |
Realised recognised gains and losses |
|
|
Realised gains/(losses) on fixed asset investments |
7,453 |
975 |
Net income |
10,248 |
6,893 |
This page does not form part of the statutory financial statements
Page 13