## **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;
- make judgements and estimates that are reasonable and prudent;
- 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:
- examine the accounts under section 43 of the 1993 Act
- 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
- 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.