## Annie Bertha Lloyd Trust Washington Alms Houses Charity number: 237648
annieberthalloyd@gmail.com
Trustees’ report and financial statements for the year ended 31 December 2022
## Annie Bertha Lloyd Trust Contents
||Page|
|---|---|
|Reference and administrative details of the charity, its Trustees, and advisers|2|
|Chairman’s statement|3|
|Trustees’ report|4-7|
|Independent examiners report|8|
|Statement of financial activities|9|
|Balance sheet|10|
|Notes to the financial statements|11-14|
## Annie Bertha Lloyd Trust
Reference and administrative details of the charity, its Trustees’, and advisers. For the year ended 31 December 2022
**Trustees’** Mark Binney, Chairman Michael Turley Glynn Hugh Jones Pamela James Trevor Keech (Appointed 08/08/2022) **Charity Registration Number** 237648 **Principal Office** Warren Hill House Storrington Road Washington West Sussex RH20 4AQ **Treasurer** Edwin Merrikin Blessings Barns Farm Lane Storrington West Sussex RH20 4AH **Independent** Maurice Frost FCA **Examiner** Lake Barn Maypole Lane Yapton Arundel West Sussex BN18 0DR
2
## Annie Bertha Lloyd Trust
## Chairman’s statement
## For the year ended 31 December 2022
It is a great honour to have been appointed Chairman of the Annie Bertha Lloyd Trust at the Annual General Meeting in May 2022. Our heartfelt thanks go to Glynn Jones for his 10-year tenure as Chairman and I am particularly grateful that he has chosen to remain a trustee so that we can benefit from his wisdom and experience as I take up the role.
Last year saw the sad passing of one of our beneficiaries and our condolences as trustees go to her family. This created an unexpected vacancy in number 4 which was filled in August 2022 after we advertised for applications and held a series of interviews. The vacancy also provided the opportunity for refurbishment of the cottage which included new bathroom and kitchen fixtures, new carpets, and decoration. Our thanks also go to the team from Chanctonbury Churches who volunteered a work party to do a garden makeover.
Further bathroom refurbishments were also undertaken at number 3 and 5 during the year.
We continue to benefit from all the efforts of Eddie Jenkinson overseeing the day-to-day management of maintenance of the properties and are grateful for his continued role as our Buildings Manager.
We reinstated our planned annual increases in the Maintenance Contributions following a freeze during the period of the covid 19 pandemic. We are targeting a figure of 60% of an Open Market Rent based on the valuation given in 2021 and expect to further increase the contributions this year. I must repeat our earlier reassurance that it is our intention that nobody should face significant financial hardship because of these actions, and we will use our discretion if the application of this principle leads to significant hardship after all avenues for appropriate state support have been explored.
We remain mindful of our obligation to ensure that we are only using the resources available to us for the support of beneficiaries who meet with Mrs. Lloyd’s “qualifications” as laid out in our managing document. We must be certain that our beneficiaries are “in need.” At this stage it is not our intention to ask anybody to leave but we do reserve the right to ensure that all beneficiaries are contributing to our maintenance fund at a level commensurate with their available resources.
Edwin (Ted) Merrikin has served as our Treasurer for the year, and we are truly grateful for his efficiency and hard work including updating our finances to use the Xero web-based accounting system. He has agreed to continue to act as Treasurer.
This year we also welcomed a new trustee, Trevor Keech, to the board. He sits on the Washington Parish Council and brings a wealth of experience from a career in a global accountancy firm, and we are looking forward to working with him going forward.
Mark Binney Chairman 18/05/2023
3
Trustees’ report For the year ended 31 December 2022
The Trustees present their annual report together with the financial statements of the Annie Bertha Lloyd Trust, Washington Alms Houses for the year 1 January to 31 December 2022.
Formed in 1941 by Annie Bertha Lloyd who had built on her land adjacent to the main A283 road three semi-detached houses. These were for people in need who are resident at the time of application, or who have been resident, in the Parish of Washington. Preference shall be given to workers, artisans and retired small tradesmen or their widows, sisters, or daughters.
## **Strategy**
## **The objects of the Trust are:**
- To provide a home for people in need in the Parish of Washington at an affordable maintenance contribution.
- To maintain the six properties to an appropriate high standard of upkeep.
- To improve the facilities within the properties to an appropriate standard.
- To employ the services of a property consultant who will liaise between the residents and the trustees. Who will be able to source tradesmen for maintaining and improving the properties now and in future years?
## **Resources**
Continue to make the best use of resources (money & people) which are a means to achieve our ends.
- To continue efficient financial administration of the Trust and implement our Financial Strategy and Reserves Policy (see Annex below).
- Regularly review format of the Annual General Meeting (AGM).
- Regularly review the Committee structure of the Society, to make sure that it fulfils the requirements set out above. Maintain Roles and Responsibilities for each Trustee.
- To regularly carry out inspections of the Trusts’ property, to maintain, improve and upgrade the houses to the satisfaction of the Trustees and the Residents.
4
## **Achievements and performance**
## **Major Works in 2022**
There were several major projects during 2022.
- All the chimneys were swept in February. Unused flues were capped and those in use were fitted with bird guards. Any haunching repairs were also undertaken at the time.
- In April 2022 Anne Cooper at no 4 died. During July and August, the bathroom and kitchen in that house were replaced, the whole property was redecorated, and new carpets fitted ready for a new occupant.
- In September the bathroom in no 3 was replaced.
-
- In November the bathroom in no 5 was replaced.
With these works now undertaken all the cottages now have the benefit of modern bathrooms refurbished to a high standard.
## **General Maintenance**
In addition to the routine works including the gas safety checks and boiler servicing for the properties there were several more minor repairs to the individual properties as follows: -
## **No 1**
Two window handles were replaced, and the windows and back door were adjusted. There was a fence repair between numbers 1 and 2 with two new posts being required. Some repairs to the kitchen cabinets were made.
## **No 2**
The internal front door (not the porch door) had the rim lock replaced.
## **No 3**
The boiler was repaired.
## **No 4**
The electric shower was replaced in February.
## **No 5**
Following a storm in February part of the lath and plaster ceiling in the front bedroom collapsed and required re plastering.
Looking towards next year it is likely that we will have to consider the replacement of the roofs to cottages 3 and 4. This pair of houses still have the original clay tile roofs, and they are now starting to delaminate and fall.
We will also have to consider their external decoration and a site walk will be made to consider the condition of the external paintwork.
5
## **Annex**
## **Financial Strategy**
The Trust will use its funds in support of its objectives. It will seek to retain adequate reserves to enable it to maintain its properties to a high standard.
## **Financial Review**
The income of the Charity was £37,808 [2021: £34,259] expenditure was £54,214 [2021: £3,671] net (deficit)/surplus for the year of £ (16,405) [2021: £30,588]
## **a. Going Concern**
- After making appropriate enquires, the Trustees have reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. For this reason, they continue to adopt the going concern basis in preparing financial statements. Further details regarding the adoption of the going concern basis can be found in the accounting policies.
## **b. Reserves policy**
- The Trustees have established a Reserves Policy whereby unrestricted funds not committed or invested for the long term should be equivalent to six months of resources expended. At this level the Trustees feel they would be able to continue the Trusts current activities in the event of a significant drop in funding. The trustees review the reserves level annually and limits commitments so that this level is maintained. Uncommitted and unrestricted funds on 31 December 2022 were £190,910 taking account of our reserves policy, funds available for the maintenance and improvement of the properties at year end were £110,974 (2021: £132,062)
## **Structure, governance, and management**
## **a. Constitution**
- Annie Bertha Lloyd Trust is an unincorporated association, registered as a charity, number 237648, and is constituted under the rules of the scheme of the 28 August 1973, as amended by the scheme dated 26 July 2004 and resolution dated 15 November 2004.
## **b. Methods of appointment or election of Trustees**
The management of the charity is the responsibility of the Trustees who are elected and co-opted under the rules of the Scheme. At every Annual General Meeting of the Scheme, Trustees will be elected for the ensuing year.
## **c. Related party relationships**
- None
6
## **Principal risks and uncertainties**
The Trustees aided by the Property Consultant will undertake a risk assessment applicable to the properties annually before the yearly AGM.
The Society’s response to Coronavirus is the Trustees are assessing the situation on a regular basis.
Approved by order of the board of Trustees on 18/05/2023 and signed on their behalf by:
Mark Binney Chairman.
7
Annie Bertha Llo
d Trust
Amiie Bcrtha Lloyd Trust
Independent examingrfs report
For yoar gnded 310acembgr2023
Independent examlnefs report to the Trustees of Annie Bertha Lloyd Trust (Xhe charity)
I report to the charityTrLt5tees on my examination of the accounts of the tharity fof thè year ended
31 December 2023.
Résponslbllltles and basi$ of report
As the Trustees of the charity) you are responsible for the preparation of the ac£ounts in accordance wtth
the requirne5 of the CharitiesAct 20111'the 2011 ACVI.
I report in respert of our examination of the tharitvs accounts (arrted out under section 145 of the 2011
Act and In carrying my examinaiion I have fr)Ilowed the applicable Dirett(ons gen by the Charity
Commission nderseCtIon 14515llbl of the 2011Act.
Indepondent eXamInes5tate*nt
My examination was catFied out irb accordance wtth the general Directions gNen by the Charity Commisston.
An examination includes a review of the actounting records of the charity and a comparison ofthe accounts
presentetl with those records. It aly) tncludes consideration of any unusual Itèms or disclosures in the
accounts and seÈkin8 explanatlons from the tn15Eees ConmIng any such matters. The procedures
undeluken do not provde all the evidence that would be required in an audit, and consequently no opinion
is glven as to whether the accounts present a'true and fairf view and the report is limited to those matter5
set out In the 5t?tement below.
I have completed my examination. I confirm that m*ters have cometo my attention in connection with
Ihe examination 8iwng me cause to bdieve that in any material pect.
L accounting retords We not kept in respect of thè charity as required by sertion 130 of the Act,. or
2. the accounts do not accord with those records.'or
the accounts do not comply with the appticable requirements (nmIng the forni and content of
accounts set out in the Charitie5 IAccounts and Reports) Regulations 2008 other than any requirement that
the accounts glve a 'true and f3irf view which is not a matter considered as part of an independent
examination.
I have no concerns and have come 3cr055 no other matters in connection with the examTnation to whlth
tterktion shoEsld be drawn in this report to enable a proper U[etstandIng of the accounts to be reached.
Thi5 report is made solely to the ¢haiitrfs Tnjstees, as a try, In accordance with Part 4 of the Charities
IAttounts and Reportsl Re8ulations 2& My work has been undertaken so that I mlght 5tstp to the
charitfs Tn5Stees those matters l am required to state to them in an independent examinerfs report and foF
no other purpose. To the fvSle5t extent permitted by law. I do not 3(Pt or a55ume re5ponsib¥lttytO anyone
otherthèn the charity and the dwritws Tr¥J5tee5 as a bth, for my wryk or foF thts repDrt.
Maurice Frost F.C.A.
lake Barn
Maypole U3nE
Yapton
Arundel
West Sussex
BN18 ONR
**Annie Bertha Lloyd Trust Washington Alms Houses**
## **Statement of financial activities**
## **for the year ended 31 December 2022**
|**Note**
**Income from:**
Investments
3
Residents maintenace contributions
4
**Total Income**
**Expenditure on:**
M&G Funds Loss/(Gain) in their value at year end
6
1-6 Washington Cottages
7
**Total Expenditure**
**Net movement of funds**
**Reconciliation of funds:**
Total funds brought forward
Net movement of funds
**Total funds carried forward**|**Unrestricted**
**Restricted**
**Total**
**Total**
**funds**
**funds**
**funds**
**funds**
**2022**
**2022**
**2022**
**2021**
**£**
**£**
**£**
**£**
7,015
-
7,015
5,529
30,793
-
30,793
28,730|
|---|---|
||37,808
-
37,808
34,259|
||5,316
-
5,316
(14,773)
48,897
-
48,897
18,444|
||54,213
-
54,213
3,671|
||(16,405)
-
(16,405)
30,588|
||207,315
-
207,315
176,727|
||(16,405)
-
(16,405)
30,588|
||190,910
-
190,910
207,315|
**The Statement of financial activities includes all gains and losses recognised in the year.**
9
## **Annie Bertha Lloyd Trust**
## **Washington Alms Houses**
## **Balance Sheet As at 31 December 2022**
## **Note**
|**Capital Fund**
8
**General Fund**
Balance brought forward
Deficit/Surplus for the year
**Total Funds**
**Represented by:**
Freehold Property at 2018 valuation
**Bank and Deposit Accounts**
14
Money in transit from M&G Income Units (Debtor)
Lloyds Bank Current Account
Cambridge & Counties Deposit Account
Accrural ( Money Owed to S Merritt)
**Investments M&G Charity Multi Asset Funds**
M&G Charity Multi Asset Fund**_Accumulation Units_**
M&G Charity Multi Asset **_Income Units_**
**Total Assets**|**2022**
**£**
1,184,929
207,315
(16,405)
190,910
1,375,839
1,184,929
5,000
2,152
22,437
(5,370)
163,269
3,422|**2021**
**£**
1,184,929
176,727
30,588|
|---|---|---|
|||207,315|
||||
|||1,392,244|
|||1,184,929
-
11,377
21,953
-
161,989
11,996|
||1,375,839|1,392,244|
10
## Annie Bertha Lloyd Trust
**Notes to the financial statements For the year ended 31 December 2022**
## **1. General information**
Annie Bertha Lloyd Trust is a charity registered in England and Wales. The principal activity of the charity is to provide accommodation in three semi-detached houses for people in need who are resident at the time of application, or who have been resident, in the Parish of Washington, West Sussex. Preference shall be given to workers, artisans and retired small tradesman or their widows, sisters, or daughters.
## **2. Accounting policies**
## **2.1 Basis of preparation of financial statements**
The financial statements have been prepared in accordance with 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), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Charities Act 2011.
Annie Bertha Lloyd Trust meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognized at historical cost or transaction value unless otherwise stated in the relevant accounting policy.
## **Financial statements are presented in Sterling (£) and rounded to the nearest £1.**
A summary of the significant accounting policies is set out below. These policies have been consistently applied to all years presented unless otherwise stated.
## **2.2 Income**
All income is recognized once the charity has entitlement to the income, it is probable that the income will be received, and the amount of income receivable can be measured reliably.
Other income is recognized in the period in which it is receivable and to the extent the Goods have been provided or on completion of service.
## **2.3 Expenditure**
Expenditure is recognized once there is a legal or constructive obligation to transfer economic benefit to a third party, 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 classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources.
All expenditure is inclusive of irrecoverable VAT.
11
## **2.4 Debtors**
Trade and other debtors are recognized at the settlement amount after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.
## **2.5 Cash at bank and in hand**
Cash at bank and in hand includes cash and short-term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.
## **2.6 Liabilities and provisions**
Liabilities are recognized when there is an obligation at the Balance Sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably.
Liabilities are recognized at the amount that the charity anticipates it will pay to settle the debt or the amount it has received as advanced payments for the goods or services it must provide.
Provisions are measured at the best estimate of the amounts required to settle the obligation. Where the effect of the time value of money is material, the provision is based on the present value of those amounts, discounted at the pre-tax discount rate that reflects the risks specific to the liability. The unwinding of the discount is recognized in the Statement of financial activities as a finance cost.
## **2.7 Financial instruments**
The charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognized at transaction value and subsequently measured at their settlement value.
## **2.8 Fund accounting**
General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the charity and which have not been designated for other purposes.
Investment income, gains and losses are allocated to the appropriate fund.
## **2.9 Going concern**
The financial statements have been prepared on a going concern basis as the trustees believe that no material uncertainties exist. The trustees have considered the level of funds held and the expected level of income and expenditure for 12 months from authorising these financial statements. The budgeted income and expenditure are sufficient with the level of reserves for the charity to continue as a going concern.
12
|**3 .Investment Income**
Cambridge & Counties Bank
M&G Multi Asset Fund_Accumulation Units_
M&G Multi Asset Fund_Income Units_
**4 .Income from Contributions**
Residents Maintenance Contributions
**5** .**M&G Fund year end current Market Value**
M&G Multi Asset Fund_Accumulation Units_
M&G Multi Asset Fund_Income Units_
In accordance with the requirements of the Charity SORP the Trustees have valued the
M&G Funds at Market Value as compared with the cost basis used in previous years.
This has had the effect of decreasing the balance sheet value of those assets
by £5,316 [2021 (14,773)]|**2022**
**2021**
**£**
**£**
483
474
6,023
4,713
509
342|
|---|---|
||7,015
5,529|
||**2022**
**2021**
**£**
**£**|
||30,793
28,730|
||**2022**
**2021**
**£**
**£**
163,269
161,989
3,422
11,996|
|**6 .Loss/Gain in M&G Fund Values**
**7 .Analysis of expenditure on the properties:**
Property Insurance
Property maintenance
Property consultancy
NAA subscription
Independent examination fee & accountancy
Rates of unoccupied property after a death
Sundry expenses
Refund of gas charge for unoccupied property|**2022**
**2021**
**£**
**£**|
|---|---|
||(5,316)
14,773|
||**2022**
**2021**
**£**
**£**
1,169
1,107
43,169
13,519
2,940
2,624
410
200
573
993
569
-
138
-
(71)
-|
||48,897
18,443|
## **8 .The re-valuation of the properties** was taken from the 2018 Insurance
renewal, it does not include the value of the freehold land that they stand on.
## **9** . **Independent Examiner's remuneration**
Independent Examiner's remuneration of £500(2021: £400)
## **10 .Trustees' remuneration and expenses**
During the year, no trustees received any remuneration or benefits (2021: £Nil)
During the year ended 31 December 2022 no Trustee expenses have been incurred (2021: £Nil)
## **11 .Debtors: Due within one year**
|**11 .Debtors: Due within one year**||
|---|---|
|Other Debtors
(M&G )
**12 .Creditors: Amounts falling due within one year**
Other Creditors & Accrurals
(S Merritt)|**2022**
**2021**
**£**
**£**|
||5,000
-|
||**2022**
**2021**
**£**
**£**|
||5,370
-|
13
## **13 .Financial Instruments**
|**Financial Instruments**||
|---|---|
|**Financial assets**
Finacial assets measured at fair value through income and expenditure
comprise cash and bank at hand.|**2022**
**2021**
**£**
**£**|
||190,910
207,315|
|**14 .Statement of funds**
Statement of funds current year
M&G Multi Asset Fund_Accumulation Units_
M&G Multi Asset Fund_Income Units_
Cambridge & Counties Bank
Lloyds Bank current account
Debtor/Accrural
**Total Unresricted Funds**
Statement of funds previous year
M&G Multi Asset Fund_Accumulation Units_
M&G Multi Asset Fund_Income Units_
Cambridge & Counties Bank
Lloyds Bank current account
**Total Unrestricted Funds**|**Balance at**
**Income**
**Expenditure**
**Transfers**
**Balance at**
**01-Jan**
**& Gain/Loss**
**In/Out**
**31-Dec**
**2022**
**M&G Funds**
**2022**
161,989
6,023
(4,743)
-
163,269
11,996
509
(573)
(8,509)
3,422
21,953
483
-
22,436
11,377
25,793
(43,527)
8,509
2,152
5,000
(5,370)
(370)|
|---|---|
||207,315
37,808
(54,213)
-
190,910|
||**Balance at**
**Income**
**Expenditure**
**Transfers**
**Balance at**
**01-Jan**
**& Gain/Loss**
**In/Out**
**31-Dec**
**2021**
**M&G Funds**
**2021**
143,133
4,713
14,143
-
161,989
1,365
342
630
9659
11,996
21,480
474
-
-
21,953
10,749
28,730
(18,443)
(9,659)
11,377|
||176,727
34,259
(3,670)
-
207,315|
## **Transfer between funds**
## **During the year the following funds were transferred:**
£10,000 was transferred from the General Fund to buy 11,039 units in M&G Charity Multi Asset Fund, also 20,324 units were sold at the end of the year to realise £18,000 which was transferred to the General Fund. £509 was transferred from the M&G Multi Asset Fund to the General Fund.
## **15 .Related party transactions**
There were no transactions with the charity's related parties during the year.
## **16 .Controlling Party**
The Charity is governed by the Trustees who do not consider there to be one controlling party.
14