REGISTERED CHARITY NUMBER: 237057
REPORT OF THE TRUSTEES AND
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024
FOR
CONSOLIDATED ALMSHOUSE CHARITY OF SWANSCOMBE
Carleys
Second Floor South
The Fitted Rigging House
The Historic Dockyard
Chatham
Kent
ME4 4TZ
CONSOLIDATED ALMSHOUSE CHARITY OF
SWANSCOMBE
CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024
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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 11
Detailed Statement of Financial Activities 12 to 13
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CONSOLIDATED ALMSHOUSE CHARITY OF
SWANSCOMBE
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024
The trustees present their report and accounts for the year ended 31st March 2023. 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
TheCharityhasbeenfocusingonincreasingthenumberofAlmshousewehaveavailabletoofferfrom5to9 during
2023/24whichhasresultinourplanningsubmissiontoDartfordCouncilforthebuildingof4one-bedroombungalows on
thelandwehavepurchasedfromthemcirca2020.Unfortunately,ourfirstplanningapplicationwasrejected but
approvalwasobtainedinFebruary2024forthecharitytobuildThreeone-bedroombungalowsonthelandinstead bring
the number of Almshouse we will have to offer to 8 in total once these properties are built.
WehavebeenworkingwithourbuildpartnerwithworksplannedtobeginonthenewpropertiesinApril2024 and
completionofthepropertiesisexpectedlateNovember2024withbeneficiariesmovinginaroundDecember2024. In
addition,twonewlinesofincomewillbecomeavailabletocharityfromtheElectricCarChargingpointsandCar Parking
fees.
Thecharityhasnowcompletedontheregistrationofallbuildingsandlanditowns,andthesearenowall correctly
recorded at the land registry in the charities name.
During2023/24theCharitystartedtofundraisebyattendinglocalschoolfayresandcommunityorganised activities.
Thishasledtoincreasepublicawarenessofthecharityandisraisingimportantincomeforthecharitywhichwillbe used
forournewbuildbungalows.Thetrusteesplantocontinuetofundraiseforthecharityusingtheprovenmethods and
knowledgeobtain.Forpubliccomfortandcharitytransparencywehaveregisteredwiththefund-raisingregulator. The
charityhasincurredsetupcostforfundraising,purchasingfundraisingstock,agazebo,signs,tables,cardreaders and
banners, this cost are one off but the stock (prize) cost will be ongoing as we continue to fund raise.
ThecharitiespropertieshaveallbeallocatedtobeneficiariesfortheyearWMCreceivedforeachweekand with
beneficiaryfeedbackremaininghighandnocomplaints.Trusteesareproactivelyworkingwithbeneficiariestoensure all
properties are maintained to a high standard and any property repairs are actioned as quickly as possible.
2024-25willbeatransformationalyearforthecharityasthecharitywillrequireamortgageandwillutiliseamajority of
itsreservecashtobuildthenewproperties.TrusteesareworkingwiththeCharityBankandotherstakeholdersto ensure
the charities budget and cash flow remains positive at all times.
Page 1
CONSOLIDATED ALMSHOUSE CHARITY OF
SWANSCOMBE
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024
FINANCIAL REVIEW
Financial position
Followingthelossofsomeweeklymaintenancechargein2022/23trusteesworkedhardwithexternallegalpartners to
recoverythelostincomeandhavereceivedaverysmallamountofmoneybacksofarwiththebalanceexpectingto be
written off.
Thecharities2023/24objectivewastopreservecashtoensuresufficientfundsforourbuildprojectthusthereason for
reductioninpropertyrepaircostsovertheperiod,butthishasnotimpactedthequalityofourpropertiesas preventative
maintenance is undertaken.
Giventhedisruptionexpectedtoourbeneficiariesasmallweeklymaintenancechargeincreaseisplannedwith the
trusteesagreeingthatfollowingthepropertyvaluationsallnewbeneficiarieswillpaythenewrateofweekly maintenance
charges and current beneficiaries will pay a lower rate.
Lookingforward2025-26thecharitywillbeinapositiontorebuilditsreservesusingtheincomefromthenew properties
anditsexistingpropertiesalongwithfundraisingactivities,asthecharitywillbegeneratingincomecircaof£60,000 per
annum for Almshouse rentals.
Going concern
Thereisariskthatthegrowthofthecharityfrom5propertiesto8andmanagingtheotherincomestream will
overstretchthetrustees,Trusteesareawarethat2024/25isatransformationalyearandhaveagreedonaplan and
divisionoftaskstoensuresuccess.However,itisvitalthatnewtrusteesaresoughtwithpropertyexperienceas the
charitiesgrows,theworkundertakeninpreviousyearstodigitalisethecharitywillbepivotalin2024/25and going
forward.
Thereisariskthatthebuildprojectisarisktothecharity,thisriskisreduced/limitedbyexternalsupportform the
CharityBankinoversightoftheplannedbudgetandbythebuildpartnerprovidingaprojectmanagertooversee the
build project.
ThetrusteesareawarethatfurtherworksareneededtoourMiltonStreetpropertyandoncethenewbuilds are
completeourattentionwillneedturntothisbuildingtoensurethepropertyremainsinagoodstandard.(Workrequired -
New Roof, Outside insulation, and rendering).
FUTURE PLANS
The charity is looking to
1. (Short Term) - Build 3 New Bungalows
2. (Medium Term) Purchase 2 bungalows from the open market when they become available (Birds Row)
3. (Medium / Long Term) Network and explore mergers with other local charities to reduce costs
Thecharityisnolongerlookingtobecomearegisteredsocialhousingproviderinsteadworkingwiththe Almshouse
Association who is lobbying central government for Almshouse to be recognised as housing providers.
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
Page 2
CONSOLIDATED ALMSHOUSE CHARITY OF
SWANSCOMBE
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024
Principal address
18 Caspian Way
Swanscombe
Kent
DA10 0LE
Trustees
Mr Andrew Griggs
Mrs Marion Needham
Mr Robert Weller
Mr Glen Keeling
Ms Linda Ashby
Independent Examiner
Carleys
Second Floor South
The Fitted Rigging House
The Historic Dockyard
Chatham
Kent
ME4 4TZ
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 28 January 2025 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 2024.
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
Carleys
Second Floor South
The Fitted Rigging House
The Historic Dockyard
Chatham
Kent
ME4 4TZ
28 January 2025
Page 4
CONSOLIDATED ALMSHOUSE CHARITY OF
SWANSCOMBE
STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2024
2024
Unrestricted
funds
Notes
£
INCOME AND ENDOWMENTS FROM
Donations and legacies
328
Charitable activities
Rental of almshouses
30,585
Other trading activities
2
6,133
Investment income
3
4,242
Other income
-
Total
41,288
EXPENDITURE ON
Raising funds
4
3,653
Charitable activities
Rental of almshouses
13,212
Total
16,865
NET INCOME
24,423
RECONCILIATION OF FUNDS
Total funds brought forward
712,748
TOTAL FUNDS CARRIED FORWARD
737,171 |
2023
Total
funds
£
-
30,353
-
1,402
1,790 |
|
33,545 |
|
5,640
9,449 |
|
15,089 |
|
18,456
694,292 |
|
712,748 |
The notes form part of these financial statements
Page 5
CONSOLIDATED ALMSHOUSE CHARITY OF
SWANSCOMBE
BALANCE SHEET 31 MARCH 2024
Notes
FIXED ASSETS
Tangible assets
9
CURRENT ASSETS
Debtors
10
Cash at bank and in hand
CREDITORS
Amounts falling due within one year
11
NET CURRENT ASSETS
TOTAL ASSETS LESS CURRENT LIABILITIES
NET ASSETS
FUNDS
12
Unrestricted funds
TOTAL FUNDS |
2024
Unrestricted
funds
£
576,052
31,757
136,070
167,827
(6,708)
161,119
737,171
737,171
737,171
737,171 |
2023
Total
funds
£
575,490
14,433
124,014
138,447
(1,189)
137,258
712,748
712,748
712,748
712,748 |
|
|
|
ThefinancialstatementswereapprovedbytheBoardofTrusteesandauthorisedforissueon28January2025and 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 2024
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
Act 2011. The financial statements have been prepared under the historical cost convention.
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. OTHER TRADING ACTIVITIES
|
|
2024 |
2023 |
|
|
£ |
£ |
|
Fundraising events |
6,133 |
- |
3. |
INVESTMENT INCOME |
|
|
|
|
2024 |
2023 |
|
|
£ |
£ |
|
Deposit account interest |
4,242 |
1,402 |
continued...
Page 7
CONSOLIDATED ALMSHOUSE CHARITY OF
SWANSCOMBE
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2024
4. RAISING FUNDS
Investment management costs
Investment management costs |
|
|
|
2024 |
2023 |
|
£ |
£ |
Property repairs |
677 |
5,640 |
5. TRUSTEES' REMUNERATION AND BENEFITS
Notrusteereceivedanyremunerationoranyotherbenefitduringtheyear.Notrusteeorotherpersonrelated to
thecharityhadanypersonalinterestinanycontractortransactionenteredintobythecharityduringthe year
(2023: £Nil).
Trustees' expenses
There were no trustees' expenses paid for the year ended 31 March 2024 nor for the year ended 31 March 2023.
6. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
|
Unrestricted |
|
funds |
|
£ |
INCOME AND ENDOWMENTS FROM |
|
Charitable activities |
|
Rental of almshouses |
30,353 |
Investment income |
1,402 |
Other income |
1,790 |
Total |
33,545 |
EXPENDITURE ON |
|
Raising funds |
5,640 |
Charitable activities |
|
Rental of almshouses |
9,449 |
Total |
15,089 |
NET INCOME |
18,456 |
RECONCILIATION OF FUNDS |
|
Total funds brought forward |
694,292 |
TOTAL FUNDS CARRIED FORWARD |
712,748 |
continued...
Page 8
CONSOLIDATED ALMSHOUSE CHARITY OF
SWANSCOMBE
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2024
7. INDEPENDENT EXAMINER'S FEE
Inrespectofthe£1,180(2023:£948)payabletotheindependentexaminerfortheyear,£300(2023:£280) is
for the independent examination and £880 (2023: £668) relates to accountancy services.
8. STAFF SALARIES
There were no salaries paid by the charity for the year ended 31st March 2024 (2023: Nil).
9. TANGIBLE FIXED ASSETS
COST
At 1 April 2023
Additions
At 31 March 2024
DEPRECIATION
Charge for year
NET BOOK VALUE
At 31 March 2024
At 31 March 2023
10.
DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
Trade debtors
Prepayments and accrued income
11.
CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
Trade creditors
Other creditors
12.
MOVEMENT IN FUNDS
Unrestricted funds
General fund
Almhouses fund
TOTAL FUNDS |
Freehold
property
£
575,490
-
575,490
-
575,490
575,490
At 1.4.23
£
137,258
575,490
712,748
712,748 |
Plant and
machinery
£
-
750
750
188
562
-
2024
£
2,958
28,799
31,757
2024
£
5,528
1,180
6,708
Net
movement
in funds
£
24,423
-
24,423
24,423 |
Totals
£
575,490
750 |
Totals
£
575,490
750 |
Totals
£
575,490
750 |
|
|
|
576,240 |
|
|
|
|
|
188 |
|
|
|
|
|
576,052 |
|
|
|
|
|
575,490 |
|
|
|
|
|
2023
£
8,523
5,910
14,433
2023
£
242
947
1,189
At
31.3.24
£
161,681
575,490 |
2023
£
8,523
5,910 |
|
|
|
|
|
14,433 |
|
|
|
|
|
|
2023
£
242
947 |
|
|
|
|
|
1,189 |
|
|
|
737,171 |
|
|
|
|
|
737,171 |
|
|
continued...
Page 9
CONSOLIDATED ALMSHOUSE CHARITY OF
SWANSCOMBE
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2024
12. MOVEMENT IN FUNDS - continued
Net movement in funds, included in the above are as follows:
|
Incoming |
Resources |
Movement |
|
resources |
expended |
in funds |
|
£ |
£ |
£ |
Unrestricted funds |
|
|
|
General fund |
41,288 |
(16,865) |
24,423 |
TOTAL FUNDS |
41,288 |
(16,865) |
24,423 |
Comparatives for movement in funds
Unrestricted funds
General fund
Almhouses fund
TOTAL FUNDS |
At 1.4.22
£
118,802
575,490
694,292
694,292 |
Net
movement
in funds
£
18,456
-
18,456
18,456 |
At
31.3.23
£
137,258
575,490 |
|
|
|
712,748 |
|
|
|
712,748 |
Comparative net movement in funds, included in the above are as follows:
|
Incoming |
Resources |
Movement |
|
resources |
expended |
in funds |
|
£ |
£ |
£ |
Unrestricted funds |
|
|
|
General fund |
33,545 |
(15,089) |
18,456 |
TOTAL FUNDS |
33,545 |
(15,089) |
18,456 |
A current year 12 months and prior year 12 months combined position is as follows:
Unrestricted funds
General fund
Almhouses fund
TOTAL FUNDS |
At 1.4.22
£
118,802
575,490
694,292
694,292 |
Net
movement
in funds
£
42,879
-
42,879
42,879 |
At
31.3.24
£
161,681
575,490 |
|
|
|
737,171 |
|
|
|
737,171 |
continued...
Page 10
CONSOLIDATED ALMSHOUSE CHARITY OF
SWANSCOMBE
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2024
12. MOVEMENT IN FUNDS - continued
Acurrentyear12monthsandprioryear12monthscombinednetmovementinfunds,includedintheabove are
as follows:
|
Incoming |
Resources |
Movement |
|
resources |
expended |
in funds |
|
£ |
£ |
£ |
Unrestricted funds |
|
|
|
General fund |
74,833 |
(31,954) |
42,879 |
TOTAL FUNDS |
74,833 |
(31,954) |
42,879 |
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
Therewerenorelatedpartytransactionsfortheyearended31stMarch2024norfortheyearended31st March
2023.
Page 11
CONSOLIDATED ALMSHOUSE CHARITY OF
SWANSCOMBE
DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2024
|
2024 |
2023 |
|
£ |
£ |
INCOME AND ENDOWMENTS |
|
|
Donations and legacies |
|
|
Donations |
328 |
- |
Other trading activities |
|
|
Fundraising events |
6,133 |
- |
Investment income |
|
|
Deposit account interest |
4,242 |
1,402 |
Charitable activities |
|
|
Rent receivable |
30,585 |
30,353 |
Other income |
|
|
Other income |
- |
1,790 |
Total incoming resources |
41,288 |
33,545 |
EXPENDITURE |
|
|
Other trading activities |
|
|
Fund raising expenses |
2,976 |
- |
Investment management costs |
|
|
Property repairs |
677 |
5,640 |
Charitable activities |
|
|
Rates and water |
771 |
355 |
Insurance |
1,034 |
1,073 |
Light and heat |
392 |
(280) |
Postage and stationery |
76 |
5 |
Sundries |
596 |
11 |
Gardening |
508 |
315 |
Computer costs |
102 |
80 |
Routine maintenance |
4,757 |
4,426 |
Bad debts |
3,321 |
- |
|
11,557 |
5,985 |
Support costs |
|
|
Finance |
|
|
Bank charges |
60 |
73 |
Human resources |
|
|
Plant and machinery |
188 |
- |
Other |
|
|
Administrative expenses |
267 |
653 |
Governance costs |
|
|
Accountancy |
1,180 |
948 |
Carried forward |
1,180 |
948 |
This page does not form part of the statutory financial statements
Page 12
CONSOLIDATED ALMSHOUSE CHARITY OF
SWANSCOMBE
DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2024
|
2024 |
2023 |
|
£ |
£ |
Governance costs |
|
|
Brought forward |
1,180 |
948 |
Legal & professional |
(40) |
1,790 |
|
1,140 |
2,738 |
Total resources expended |
16,865 |
15,089 |
Net income |
24,423 |
18,456 |
This page does not form part of the statutory financial statements
Page 13