The Almshouses and Hospital of Miss Ann Bearpacker Trustees Report and Unaudlted Accounts Charity number: 238708 31 December 2024
Contents Reference and Administrative Details Trustees Report Independent Examiner's Report Statement of Financial Activities (including Income & Expenditure accountl Balance Sheet Notes to Financial Statement
REFERENCE AND ADMINISTRATIVE DEfAIiS Charity Number 238708 Trustees The following trustees served during the year.. A Bell R Bernays S Dove L Hewi5h (Chairman) D Moss G Wedlake L Leyland Ireslgned I. July 20241 lappointed 30thJuly 20241 Key Management Personnel Chair Clerk to the trustees Rerfd Lesley Hewish Teresa Pottinger Prlnclpal place of buslness 6 Holywell Road. Wotton-under-Edge Glos. GL12 7NJ Independent Examlner Mrsj Roberts Willow Accountancy Ltd Wlllow Cottage Valley Road Wotton-under-Edge Glos. GL12 7NP Bank Lloyds Bank P.0. Box 1000 Andover BXI ILT
TRUSTEES REPORT The trustees present their report and financial statements for the year ended 31 December 2024. OBJEcfivES AND AcfiviTIES To provide accommodation for ten elderly. independent inhabitants lor close relatives of inhabitants) of the Parish of Wotton-under-Edge and members of the Church of England. To maintain the ten cottages and gardens that comprise Miss Ann Bearpackerfs Almshouses. Achlevements and performance 2024 has been yet another year of changes for the residents and trustees of the Ann Bearpacker Almshouses. One of our lady residents moved away to live with her family and we were all very saddened by the sudden death in October of one of our male residents, leaving only 8 of the 10 cottages occupied at the end of the year. This has given us an opportunity to revaTnp the cottages ready for two new residents. one male, one female, recruited and expected in the January and March 2025. The residents continue to be se5f- sufficient and care and look out for each other. The cottage5 are kept in good order by the residents and maintained by Glenn Wedlake and Leigh Leyland, our new Trustee who replaced Glenn after many years of seNice. Glenn continues to be our Gardener and remains the residents on call contact. There have been no major building works this year but lots of maintenance and redecorating jobs to keep them bu5Y. Easter is a time of giving and the resident5 were delighted as always to receive their golden chocolate bunnies. We had a very jolly Christmas with a residenvs and Trustee lunch at The Fleece in Hillesley and an evening when the Cubs and Beavers came carol singing finishing with hot chocolate and more singing in the church around the tree. We currently have five trustees Alan Bell, Robert Bernays, Sharon Dove, Leigh Leyland and Dot Moss with our chair being Rerfd Lesley Hewish. We are currently seeking one new trustee. STRUCWRE. GOVERNANCE & MANAGEMENT The Charity was founded in 1836 by Miss Ann Bearpacker. It is governed by a deed of trust granted on 07102/1838 and by the Charity Commission initially on 1110711916 with further updates as required by the commission. Trustees are appointed at any of the four general meetings by agreement of the Chairman and existing trustees. The Chairman is the Vicar of The Parish of St Mary the Virgin.
FINANCIAL REVIEW Income is received in the form of monthly maintenance payments from the residents. Larger projects are funded from accumulated reserves. No major transfers from reserves were required this year. The walk-in shower was not required by the resident this year but may be required by different resident in the future. The cost of the kitchen refurbishment was undertaken to one property well within budget and completed in 2025 with the addition of electrical sockets to three other cottages. The revamping of the vacant properties was covered by the funds in the Lloyds Current Account. The property was revalued by our insurers during the year. This has glven rise to a significant increase in the value of our assets. We intend to re-assess the value at least every five year5 going forward to ensure the accounts and insurance cover is current and adequate. The Budgeting from 2024 and forecast for 2025 indicated a significant increase in the rise of energy and maintenance costs. Therefore. the weekly maintenance payment was agreed to increase from January 2025 by 5%. Specific expenses in 2025 are likely for: Masonry repairs on the rooys numbers I to 4. where the caNed stone copings are being affected by the weather and beginning to fall away. We are colletting quotations for the work to happen in 2025 approximating to £lO.000. Potential damp issues are being monitored and addressed in number 5 and number 10, end of terrace cottages. Whilst vacant. internal walls are being addressed during 2025. Drainage improvements to number 10 are planned and being discussed for number 5 in 2025. The boiler in number 10 was serviced and works well, however due to its age it may need replacing in 2025. The implementation of a payroll system for the Clerk to the Trustee5 will require a small ongoing expense from April 2025. The Charity does not actively raise funds from the public. The Charity made a surplus of£ll,881 Reserves Pollcv Attumulated surplus are held in COIF Charities Deposit Fund accounts for future large-scale repairs and maintenance of the properties. Golng Concern At the time of approving the financial statements the Trustees have a reasonable expectation that the charity has adequate resource5 to continue in the operational existence for the foreseeable future. Thus, the Trustees continue to adopt the going concern basis of accounting in preparing the financial statements.
STATEMENT OF TRUSTEES RESPONSIBILMES The charlty trustees are responsible for preparing a trustees annual report and financial statements in accordance wlth applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). The trustees are responsible for keeping proper accounting records that disdose with reasonable accuracy at any tlme the flnancial position of the charity and to enable them to ensure that the financlal statements comply with the Charlties Act 2011, the applicable Charities (Accounts and Reports) Regulations, and the provisions of the Trust deed. The Trustees are also responsible for safeguarding the assets of the Charity and hence taking reasonable steps for the prevention and detectlon of fraud and other irregularities. Signed on behalf of the Charitvs trustees Signed ... Re¢d Lesley Hewish (Chair of trustees)
The Almshouses or Hospltal of Miss Ann Bearpacker Independent E)Kamlners Report Independent Examlner's Report to the trustees of The Almshouse5 or Hospltal of Mlss Ann Bearpacker I report to the trustees on my examination of the financial statements of The Almshouses or Hospital of Miss Ann Bearpacker forthe year ended 31 December 2024. Respon51billtles and basls ol report As the charity's tT¥JStees you are responsible for the preparation of the financial statements in accordance with the requirements of the Charities Act 2011 l*he Act'l- I report in respect of my examination of the ¢harity's financial ststements carried out under sertion 145 of the 2011 Act and in carying out my examination I have followed all the applicable Directions given by the Charity Commission under settion 1451511bl of the Act. Independent examlnerfs statement I have completed my examination. I can confirffl that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respert: • the accounting records were not kept in respert of the charity as required by section 130 of the Art- or • the financial statements do not accord with those records; or the financial statements do not comply with the applicable requirements concerning the form and content of financial ststements set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the financial statements give a 'true and fair. view which is not a matter considered as part of an independent examination. I have no concerns in connection with the examination to which attention should be drawn in this report in order to enable a proper understandin8 of the financial statements to be reached. • I would note that a large revaluation of PToperty has taken place this year and is based on a verbal valuation by a local estste agent. As no written confirmation was received I have been unable to verify this. The reason for this verbal onty valuation was financial, so I have no reason to doubt the accuracy of the valuation. LL)LCg ' Mrs J Roberts ACMA Ichartered Institute of Management Accountants) Willow Accountancy Willow Accountancy Ltd Willow Cottage, Valley Road Wotton Under Edge Glos GL12 7NP 03 September 2025 Page 7
The Almshouses or Hospitsl of Mlss Ann Bearpacker Statement ol Nnancial Artlvltles for the year ended 31 December 20Z4 Unrestrirted funds Total funds Total funds 2024 2024 2023 Notes In¢ome and endowments Donations and legacie5 Investments Other 50 50 9,395 30,525 9.395 30.525 7,736 32,146 Total 39.970 39,970 39,882 Expendlture on: Other 28,089 28,089 28.089 26,896 Total 28,089 26.896 Net gains on investments Net Income 11,881 11,881 12.986 Transfers between funds Net Income beft>re ¢)ther 8alnsllk>s5esl 11,881 11.881 12,986 Other 8alns and1055es Losses on revaluation of fixed assets 1206,7191 {206,7191 Net movement In fvnds {194,8381 1194.8381 12,986 Reconcillatlon ot funds: Total funds brought forward 716.455 716.455 703.469 Totsl funds carrfèd forward 521,617 521.617 716,455 Page 8
The Almshouses or Hospltal of Mlss Ann Bearpacker Balance Sheet at 31 December 2024 Charfty No. 238708 2024 2023 Flxed assets Tan8lble assets 305,250 305,250 511,969 511,969 Current assets Cash at bank and in hand 216,367 216,367 216,367 521,617 521,617 204,486 204,486 204,486 Net current assets Total assets less current liabilities 716,455 Net assets exduding pension asset or Ilability 716,455 Total net assets 521,617 716,455 The funds of the charlty Unrestrfcted funds General funds Designated funds 51,951 164,416 40,070 164,416 216,367 204,486 Reserves Revaluation reserve 305,250 305,250 511,969 511,969 Total funds 521,617 716,455 Approved by the trustees on 15 September 2025 And signed on their behalf by: L. Hewish (Chairman) Trustee 15 September 2025 Lk Page 9
The Almshouses or Hospital of Miss Ann Bearpacker Nijtes to the Accounts for the year ended 31 December Z024 l Accountlng pollcles Basls of preparatlon The financial statements have been prepared in accordaftce with Statement of Recommended PraLtice: Accountin8 and Reportin8 by Charities preparin8 their accounts in atcordano with the Financial Reportin8 Standard applicable In the UK and Republic if Ireland IFRS 1021 issued on 16 July 2014 and the Financial Reporting Stsndard applicable in the United Kingdom and Republic of Ireland IFRS 102} and the Charities Act 2011. Change In basls of accountlng or to prevlou5 accounts There has been no change to the accounting policies Ivaluation rules and method of accounting) since last year and no changes have been made to accounts for previous years. Fund accounting Unre5trirted funds These are available for use at the discretion of the trustees in furtherance of the general objects of the charity. These are unrestrirted funds earmarked by the trustees for particular purposes. These are unrestricted funds which include a revaluation reSee representing the restatement of investment assets at their market values. These are available for use subject to re51rictlons imposed by the donor or through temis of an appeal. Designated funds Revaluation funds RestrKted funds Income Recognition of income Income is included in the Statement of Financial Activities ISOFAI when the chartrty becomes entitled to, and virtually certain to receive. the income and the amount of the income can be measured with sufficient reliability. lllcome with related Where income has related expenditure the income and related expenditure is expenditure reported gross in the SOF Donations and Voluntsry income received by way of 8rants, donatn$ and gifts is included in the the SOFA when receivable and only when thecharity has unconditional entitlement to the income. Tax reclaims on Income from tax claIMS is included in the SOFA at the same time as the donations and gifts giftldonation to which it relates. Donated services These are only included in income (with an equi¥alent amount in expenditure} and facilities where the benefrt to the Charity is reasonably quantifiable. measurable and material. Volunteer help The value of any volunteer help received is not included in the accounts. Investment income This is included in the accounts when receivable. Gainslllossesl on This includes any gain or10ss resulting from revaluing investments to market value revaluatlon of fixed at the end of the year. assets Gainslllossesl on investment assets legacies This includes any gain or loss on the sale of investrnents. Pa8e 10
The Almshouses or Hospital ot Mlss Ann Bearpacker Notes to the Accounts Expendlture Reco8nition of expenditure Expenditure is recognised on an a cash basis. Expenditure includes any VAT which cannot be fully recovered, and is reported a5 part of the expenditure to which it relates. Expenditure on These comprise the costs associated with attracting voluntary income, fundraising raising funds trading Costs and investment management costs. Expenditure on These comprise the costs incurred by the Charity in the delivery of its activities and charitable artivities services in the furtherance of its objects, including the making of grants and governance costs. All grant expenditure is accounted for on 3n actual paid basis plus an accrual for grants that have been approved by the trustee5 at the end of the year but not yet paid. These include those costs associated with meeting the constitutional and statutory reqU1MentS of the Charity, including any auditlindependent examination fees, costs linked to the strategic management of the Charity. together with a share of other administration costs. These are support costs not allocated to a particular activity. Grants payable Governance costs Other expenditure Taxation The charity is exempt from tax on its charitable activities. Freehold investment property Investment properties are measured initialW at cost and subsequently at fairvalue at each balance sheet date antl are not depreciated. All gains or losses are taken to the Statement of Financial Artivities as they arise. Trade and other debtor5 Trade and other debtor5 are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due. Cash and cash equlvalents Cash and cash equivalents comprise cash at bank and on hand, demand deposits with banks and other short-term highly liquid investments with original maturitie5 of three months or less and bank overdrafts. In the ststement of financial position, bank overdrafts are shown within borrowings or current liabilities. In the Statement of Cash Flows, cash and cash equivalents are shown net of bank overdrafts that are repayable on demand and form an integral part of the company's cash mana8ement. Trade and other tredltors Short term creditors are measured at the transaction price. Other creditors and provisions are recognised where the charity has a present obligation resulting from a p3st event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions a norm8lly recognised at their settlement amount after allowing for any trade discounts due. Receipt of donated goods, facillties and services All donated goods, facilities and services received are recognised within incoming resources and expenditure at an estrmate of the value to the charity. Page 11
The Almshouses or Hospltal of M155 Ann Bearpa¢ker P4otes tothe Accounts 2 lficorne from donatlons and lepcles Unrestrfrted Tolal Totsl 2024 2023 Donations from residents 50 50 3 Inu>me from Investments Unrestrlrted Total Total 20Z4 2023 Interest received 9,395 9.395 9,395 9,395 7,736 7,736 4 Other Income Unrestricted Total Total 2024 2023 Maintenance ContribLrtions 30.525 30,525 30,525 30,525 32,146 32.146 5 Other expendlture Unrestricted Total Totsl 2024 2023 Employee costs Premises Costs 21,708 2,277 21,708 2,277 23,388 1.104 360 Genefal administrative costs Legal and professional costs 28,089 28,089 26.896 Page 12
The Almshouses or Hospital of Miss Ann Bearpacker Notes tothe Accounts 6 Trustee remuneration and expenses One or more of the trustees has been paid expenses in the current or prior periods. 2024 2023 Number Nurnber Number of trustees paid expenses The nature of the reimbursed expenses Trustees are reimbursed for out of pocket expenses incurre(i exclusively forthe purpose of the Charity. Mr G Wedlake (Trusteel was paid £770 for expenses and £6.960 for setvices12023- £1,019 & £9,017) in the period for maintenance of the properties and 8ardens plus asslxiated expenses. Mr L Leyland was paid £254 for expenses and £1,831 for Services in the period for maintenance of the properties. Total expenses reimbursed to tnjstees 9.886 10.314 7 stsff costs 2024 2023 Salaries and wages 2,044 No employee received emoluments in excess of £60,000. 8 Taftglble fixed assets Cost or revaluation At l January 2024 Revaluation At 31 December 2024 511,969 511,969 1206,719) 1206,7191 305,250 305.2SO Net book values At 31 December 2024 At 31 December 2023 Net book values of assets held under flnance leases nd hlre purchase contracts and Induded above 305.250 511,969 305,250 511,969 The property has been revalued to reflect a verbal valuation confimied byj Ashton MNAEA Page 13
The Almshouse5 or Hospltal of Mlss Afin Bearpacker Notes to the Accounts 9 Movement In funds Incomlng resour5 Atai Decernbef {Indudin8 other At l January 8ains/losse5 2024 Resources expended 2024 Restrlcted tunds: Unrestrirted funds: General funds 40,070 39,970 128,089} 51.951 l)esignated nds. Cyclical Maintenance Fund Extraordinary Repairs Fund Total 133.525 30.891 133,525 30,891 164.416 164,416 Revaluatlon Reser¥es: Revaluation fund 511.969 1206,7191 1206,7191 305.250 Total revaluotion reserves 511.969 305,250 Totsl fvnd5 716,455 1166.7491 128,0891 521,617 Purposes and restrirtions in relation to the funds: Revaluation reserves Represent the amount by which investments exceed their historical cost. The property has been revalued based on a verbal valuation by a local estate agent. The Valuation was based on a IO% yield on experted income. Deslgnated funds: Cyclical Maintenance Fund Periodic repair and maintenance of property Extraordinary Repairs Fund Substantial repair and maintenance of property 10 Analysls of net assets between funds Unrestrlrted funds Restrfrted funds Totsl Fixed assets Net current assets 305,250 172.840 478,090 305,250 216,367 521.617 43,527 43,527 Page 14
The Almshouses or Hospitsl of Miss Ann Bearpa¢ker Notes tothe A¢¢ounts 11 Recondllatlon of net debt At31 December 2024 At l January 2024 Cash flows Cash and Cash equivalents 204,486 204,486 11,881 11,881 216,367 216,367 Net debt 204,486 11,881 216,367 Page 15