THATCHAM PAROCHIAL ALMSHOUSE CHARITY
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2020
Charity registered number: 239850
THATCHAM PAROCHIAL ALMSHOUSE CHARITY
FINANCIAL STATEMENTS For the year ended 31 December 2020
| CONTENTS Trustees and professional advisers Report of the Trustees Independent Examiner's report Statement of financial activities Balance sheet Notes to the accounts |
PAGE |
|---|---|
| 1 2 to 3 4 5 6 7 to 9 |
Page 1
THATCHAM PAROCHIAL ALMSHOUSE CHARITY TRUSTEES AND PROFESSIONAL ADVISERS
Name
Nominating body
Trustees: Christopher Trevor Druce (Chairman) Thatcham Town Council Michael Jon de Courcy Cole (Vice Chairma Thatcham Town Council Brian George Wheeler Cold Ash Parish Council Gary Puffet Greenham Parish Council Prudence Fenn Midgham Parish Council
Ex officio
Revd. Mark Bennet Rector St Mary's Thatcham Christopher Watts Church Warden Paul Bullock Church Warden Colin Waters Church Warden
Clerk to the Trustees: Mrs J A Davis Charity Office Thatcham Parochial Charities Council Offices Brownsfield Road Thatcham RG18 3HF Bankers: Lloyds TSB 5 Bridge Street Newbury RG14 5BQ Fund Managers: BlackRock 12 Throgmorton Avenue London EC2N 2DL Independent Examiners: Tax Avenue Turnfields Gate Turnfields Thatcham RG19 4PT
Page 2
THATCHAM PAROCHIAL ALMSHOUSE CHARITY
REPORT OF THE TRUSTEES For the year ended 31 December 2020
Trustees' responsibilities
The Charities Acts 1993 and 2006 require us, as a Trust, to prepare financial statemen each financial year which give a true and fair view of the state of affairs of the Charity and of the results of the Charity for that period. In preparing those financial statements we are required to:
-
select suitable accounting policies and then apply them consistently;
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make judgements and estimates that are reasonable and prudent;
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prepare financial statements on a going concern basis unless it is inappropriate to presume that the Charity will continue.
We are responsible for keeping proper accounting records which disclose, with reasonable accuracy at any time, the financial position of the Charity and enable us to ensure that the financial statements comply with the Charities Acts 1993 and 2006.
We are responsible for safeguarding the assets of the Charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Constitution
This Charity is governed by a Charity Commission Scheme dated 30.8.88 as amended by an Order of the Commissioners dated 18.3.96 to provide for appointment of ex-officio Trustees where a Team Ministry exists, and amalgamates the following Charities:
| Thomas Loundyes | 1446 | John Hunt for the Poor | 1590 |
|---|---|---|---|
| Nine Shilling Houses | 1585 | John Hunt for his poor Kinsfolk | 1590 |
| Richard Bye | 1585 | John Sargood | 1826 |
| George James Fyfield | 1943 |
The scheme states that nine trustees should manage the Charity. Four ex-officio, the current Rector and Churchwardens of the Ecclesiastical Parish of St. Mary, Thatcham and five nominated trustees appointed by local councils, each for a period of four years.
The Charity is a member of the Almshouse Association.
The principal address of the Charity is c/o Clerk to the Trustees, Mrs J A Davis, Council Offices, Brownfield Road, Thatcham, RG18 3HF
Page 3
THATCHAM PAROCHIAL ALMSHOUSE CHARITY
REPORT OF THE TRUSTEES - CONTINUED For the year ended 31 December 2020
Principal activities and review
The object of the Charity is to provide almshouse accommodation for elderly people in need in the parishes of Thatcham, Cold Ash, Greenham and Midgham.
The Trustees held two face to face meetings during the year with 4 ex-officio Trustee changes. Due to the coronavirus pandemic restrictions, other scheduled meeting dates were replaced with summary reports being produced and shared electronically. The charity is fortunate that Trustees have a broad range of skills and expertise to support the work of the charity.
The coronavirus pandemic and subsequent lockdowns proved to be a year like no other and inevitably required certain adjustments to the way in which the Charity operated. The primary concern was of course the safety and well being of the residents in all 14 flats. The clerks' regular visits were initially reduced to weekly telephone calls until socially distanced, door step visits could resume. Any maintenance carried out was essential works only with full PPE worn by contractors, and any non urgent works put on hold. Hand sanitiser units & information signage was installed in all properties and extra weekly cleaning of communal areas/touch points introduced. In addition, items to keep residents occupied such as magazines and DVD's were offered at the charity expense & in line with the scheme. Support agency information e.g. Age UK & Silverline was also supplied. Trustees agreed unanimously not to increase the weekly maintenance contributions in May and heating and lighting contributions also remained the same.
Other almshouse works carried out either prior to the lockdown of March 23rd or when one resident was not in situ, included the modernisation to 2 bathrooms and new flooring. A kitchen refurbishment is now scheduled for 2021. A garden make-over was undertaken at Nine Shilling House and along with some new garden accessories in all outdoor spaces, this helped to make the lockdowns more manageable for residents enabling them to enjoy the fresh air comfortably. Any surplus funds in 2020 were reinvested into the ERF fund whilst still allowing for identified works.
Independent Examiner
A resolution to re-appoint Tax Avenue as independent examiner was put to the Trustees following the adoption of the annual accounts and agreed unanimously.
Clerk to the Trustees Date: 12 July 2021
Mrs J A Davis
Page 4
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF THATCHAM PAROCHIAL ALMSHOUSE CHARITY
I report on the accounts of the Charity for the year ended 31 December 2020, which are set out on pages 5 to 9.
Respective responsibilities of the Trustees and the Examiner
The charity's trustees are responsible for the preparation of the accounts. The charity's trustees consider that an audit is not required for this year (under section 43(2) of the Charities Act 1993 (the 1993 Act) and that an independent examination is needed.
It is my responsibility to:
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examine the accounts under section 43 of the 1993 Act
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to follow the procedures laid down in the General Directions given by the Charity Commissioners (under section 43(7)(b) of the 1993 Act); and
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to state whether particular matters have come to my attention.
Basis of the Independent Examiner's Report
My examination was carried out in accordance with the General Directions given by the Charity Commissioners. An examination includes a review of the accounting records kept by the charity, and a comparison on the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from you as trustees concerning such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently no opinion is given as to whether the accounts present a "true and fair view" and the report is limited to those matters set out in the statement below.
In connection with my examination, no matter has come to my attention:
1 which gives me reasonable cause to believe that in any material respect the requirements to keep accounting records in accordance with section 41 of the 1993 Act, and to prepare accounts in accord with the accounting records and to comply with the accounting requirements of the 1993 Act have not been met; or
2 to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.
Mrs Monika Tabatabaian ATT MAAT
Tax Avenue Turnfields Gate, Turnfields Thatcham, Berkshire RG19 4PT
Date: 12 July 2021
Page 5
THATCHAM PAROCHIAL ALMSHOUSE CHARITY
STATEMENT OF FINANCIAL ACTIVITIES For the year ended 31 December 2020
| Notes Resources arising: Investment income Deposit account interest Income 2 Gross resources for the year Resources used: Expenditure 2/3 Changes in resources before transfers and valuations Transfers (Loss) gain on revaluation - investments (Loss) gain on revaluation - property Net movement in resources for the year RECONCILIATION OF FUNDS Balance brought forward Adjustment for provisions Net movement in resources Balance carried forward Represented by: Property Investments Current assets |
Unrestricted Total Accumulated Moor Permanent 2020 Income Meadow Endowment £ £ £ £ 832 959 26,484 28,275 14 - - 14 88,378 - - 88,378 89,224 959 26,484 116,667 95,986 359 - 96,345 (6,762) 600 26,484 20,322 27,084 (600) (26,484) - (12,925) (2,676) (61,323) (76,924) - - 83,778 83,778 7,397 (2,676) 22,455 27,176 526,197 44,650 3,326,959 3,897,806 - - - - 7,397 (2,676) 22,455 27,176 533,594 41,974 3,349,414 3,924,982 - - 2,231,932 2,231,932 483,607 41,974 1,117,482 1,643,063 49,987 49,987 533,594 41,974 3,349,414 3,924,982 Restricted |
Total 2019 £ 37,123 53 86,178 |
|---|---|---|
| 123,354 | ||
| 134,980 | ||
| (11,626) - 247,867 76,646 |
||
| 312,887 | ||
| 3,584,919 - 312,887 |
||
| 3,897,806 | ||
| 2,148,154 1,664,987 84,665 |
||
| 3,897,806 |
Page 6
THATCHAM PAROCHIAL ALMSHOUSE CHARITY
BALANCE SHEET As at 31 December 2020
| Notes FIXED ASSETS Property 3 Investments 4 Total fixed assets NET CURRENT ASSETS Current account Deposit account Petty cash Sundry debtors/(creditors) Total net current assets Total assets FUNDS Restricted funds Permanent endowment 5 Moor Meadow 5 General fund Accumulated income fund 5 Total funds |
2020 £ 2,231,932 1,643,063 3,874,995 25,153 26,724 53 (1,943) 49,987 3,924,982 3,349,414 41,974 533,594 3,924,982 |
2019 £ 2,148,154 1,664,987 |
|---|---|---|
| 3,813,141 | ||
| 48,103 38,435 38 (1,911) |
||
| 84,665 | ||
| 3,897,806 | ||
| 3,326,959 44,650 526,197 |
||
| 3,897,806 |
Trustees:
Chairman Date: ……………… Trustee Date ………………
Page 7
THATCHAM PAROCHIAL ALMSHOUSE CHARITY
NOTES TO THE ACCOUNTS For the year ended 31 December 2020
1 Accounting policies
The accounts have been prepared on the receipts and payments basis.
| 2 | Accumulated income fund | 2020 | 2019 |
|---|---|---|---|
| £ | £ | ||
| Income | |||
| Almshouses | |||
| Maintenance | 76,240 | 71,664 | |
| Heating | 12,138 | 11,364 | |
| Donations received | - | 400 | |
| Administration fee from Relief in Need | - | 2,750 | |
| 88,378 | 86,178 | ||
| Expenditure | |||
| Almshouses | |||
| Repairs | 47,361 | 82,682 | |
| Light and heat | 7,696 | 8,729 | |
| Council tax | - | - | |
| Water | 3,025 | 2,194 | |
| Telephone | 2,003 | 1,956 | |
| Emergency care | 1,150 | 775 | |
| Window cleaning | 945 | 1,106 | |
| TV Licences | 1,176 | 1,208 | |
| Total Almshouse expenses | 63,356 | 98,650 | |
| Adminstration expenses | |||
| Salaries | 21,679 | 19,451 | |
| Insurance | 2,477 | 2,404 | |
| Office rent | 1,180 | 1,180 | |
| Office service charge | 2,047 | 1,910 | |
| General expenses and stationery | 883 | 703 | |
| Advertising | 432 | 12 | |
| Subscriptions | 296 | 290 | |
| Telephone and internet | 749 | 833 | |
| Printing | 399 | 82 | |
| Surveyors' fees | 1,456 | 8,125 | |
| Examination fees | 1,032 | 866 | |
| Total administration expenses | 32,630 | 35,856 | |
| Total expenditure | 95,986 | 134,506 | |
| Excess of income over expenditure | (7,608) | (48,328) | |
| 3 | Moor Meadow fund | ||
| Payment of 6/16 of investment income to | |||
| Thatcham Vicars and Churchwardens | 359 | 474 |
Page 8
THATCHAM PAROCHIAL ALMSHOUSE CHARITY
NOTES TO THE ACCOUNTS - CONTINUED For the year ended 31 December 2020
3 TANGIBLE FIXED ASSETS
| At cost or valuation At 31 December 2019 Increase in value in the year At 31 December 2020 Depreciation At 31 December 2019 Charge for the year At 31 December 2020 Net book value at 31 December 2020 Net book value at 31 December 2019 |
45/47 Chapel Nine Shilling Street House Total £ £ £ 1,009,633 1,138,521 2,148,154 39,376 44,402 83,778 |
|---|---|
| 1,049,009 1,182,923 2,231,932 |
|
| - - - - - - |
|
| - - - |
|
| 1,049,009 1,182,923 2,231,932 |
|
| 1,009,633 1,138,521 2,148,154 |
The properties 45,47 Chapel Street and Nine Shilling House have been revalued at 30 June 2020 at the insured cost of £2,231,932 in accordance with the BIA House Rebuilding Cost Index by the insurers Ecclesiastical Insurance Office plc.
| 4 INVESTMENTS 2020 £ MARKET VALUE At the beginning of the year 1,664,987 Additional investment 55,000 Net investment gain (loss) (76,924) At the end of the year 1,643,063 COST at 31 December 2020 735,812 HOLDINGS - AT MARKET VALUE - AT 31 DECEMBER 2020 Bid price £ Value Bid price £ at 31/12 £ at 31/12 Permanent Endowment 91,725.000 Charinco Distribution 1.970 180,698 1.906 145,125.403 Charishare Distribution 6.455 936,784 6.918 Total 1,117,482 Extraordinary Repair Fund (Surplus Income) 1,196.838 Charinco Accumulation 54.990 65,814 51.490 18,676.205 Charishare Accumulation 20.500 382,862 21.430 Total 448,676 Moor Meadow Fund 1,630.742 Charinco Distribution 1.970 3,213 1.906 6,004.849 Charishare Distribution 6.455 38,761 6.918 Total 41,974 Surplus Income 3,068.363 Charinco Distribution 1.970 6,045 1.906 4,475.005 Charishare Distribution 6.455 28,886 6.918 Total 34,931 1,643,063 |
2019 £ 1,367,120 50,000 247,867 |
|---|---|
| 1,664,987 | |
| 680,812 | |
| Value £ 174,828 1,003,977 1,178,805 51,066 353,660 404,726 3,108 41,542 44,650 5,848 30,958 36,806 |
|
| 1,664,987 |
Page 9
THATCHAM PAROCHIAL ALMSHOUSE CHARITY
NOTES TO THE ACCOUNTS - CONTINUED For the year ended 31 December 2020
5 FUNDS
| Permanent Endowment Moor Meadow Accumulated fund Surplus income Extraordinary Repair Fund Cash and tangible assets Total |
Actual Balance net gain Balance 31 Dec 2019 (loss) 31 Dec 2020 £ £ £ 3,326,959 22,455 3,349,414 44,650 (2,676) 41,974 36,806 (1,875) 34,931 404,726 43,950 448,676 84,665 (34,678) 49,987 526,197 7,397 533,594 |
|---|---|
| 3,897,806 27,176 3,924,982 |
6 NOTES ON FUNDS
Extraordinary Repair Fund
The Trustees are required to maintain this fund under the terms of the scheme.
Trustees are reviewing the recommendations of the quinquennial report on property condition before setting aside additional money in the Extraordinary Repair Fund. The long term aim for this fund is to establish it at one third of the insured value of the properties held by the charity.