Draft 23.05.2022 ## **THATCHAM PAROCHIAL ALMSHOUSE CHARITY** ## **FINANCIAL STATEMENTS** **FOR THE YEAR ENDED 31 DECEMBER 2021** **Charity registered number: 239850** Draft 23.05.2022 ## **THATCHAM PAROCHIAL ALMSHOUSE CHARITY** ## **FINANCIAL STATEMENTS For the year ended 31 December 2021** |**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| Draft 23.05.2022 Page 1 ## **THATCHAM PAROCHIAL ALMSHOUSE CHARITY TRUSTEES AND PROFESSIONAL ADVISERS** ## **Name** ## **Nominating body** **Trustees:** Christopher Trevor Druce (Chairman) Michael Jon de Courcy Cole (Vice Chairman) Brian George Wheeler Gary Puffet Prudence Fenn Thatcham Town Council Thatcham Town Council Cold Ash Parish Council Greenham Parish Council Midgham Parish Council Ex officio Revd. Mark Bennet Rector St Mary's Thatcham Christine Rice 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 Draft 23.05.2022 Page 2 ## **THATCHAM PAROCHIAL ALMSHOUSE CHARITY** ## **REPORT OF THE TRUSTEES For the year ended 31 December 2021** ## **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 Draft 23.05.2022 Page 3 ## **THATCHAM PAROCHIAL ALMSHOUSE CHARITY** ## **REPORT OF THE TRUSTEES - CONTINUED For the year ended 31 December 2021** ## **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 were able to resume face to face meetings from the July meeting onwards with only 1 meeting taking place via Zoom online video conferencing in March. There was 1 ex-officio Trustee change in September. The charity is fortunate that Trustees have a broad range of skills and expertise to support the work of the charity. With coronavirus still a very great risk, the primary concern continued to be for the safety and well being of the residents in all 14 flats. The clerk continued with regular phone calls to residents and socially distanced, door step visits. Planned maintenance was increased with PPE worn by contractors, and additional cleaning and hand sanitiser units kept in place. Trustees agreed unanimously to not increase the weekly maintenance contributions in May and heating and lighting contributions also remained the same. The broadband service paid for by the charity for the benefit of the residents, was upgraded to cope with extra demand from residents staying at home more and using streaming services for entertainment. The car park at Nine Shilling House had a minor revamp to allow more room for residents to park. For the first time in it's 26 year history, all 6 Nine Shilling House flat residents are car owners and the works alleviated a few issues. During 2021 also at Nine Shilling House & with the resident away from home, the charity was finally able to make improvements to the kitchen to bring it in line with the other flats in the block. Fire stopping works were also completed at 47, Chapel Street. At the end of the year, the Chairman & the Clerk with the permission of residents, were able to visit all flats to carry out an annual inspection using the quinquennial report as the guide. Any identified works on this visit, are now completed. It was a very good opportunity to meet with all residents to see how they are and give them the opportunity to discuss any concerns or suggestions that they may have had. Finally, some surplus funds in 2021 were reinvested into the ERF fund. ## **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: xxxxxxxxxx Mrs J A Davis Page 4 Draft 23.05.2022 ## **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 2021, 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: xxxxxxxxx Draft 23.05.2022 Page 5 ## **THATCHAM PAROCHIAL ALMSHOUSE CHARITY** ## **STATEMENT OF FINANCIAL ACTIVITIES For the year ended 31 December 2021** |**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
**2021**
Income
Meadow
Endowment
**£**
**£**
**£**
**£**
1,107
1,335
35,414
37,856
4
-
-
4
91,358
-
-
91,358
92,469
1,335
35,414
129,218
89,895
501
-
90,396
2,574
834
35,414
38,822
36,248
(834)
(35,414)
-
55,795
3,981
89,244
149,020
-
-
378,424
378,424
94,617
3,981
467,668
566,266
533,594
41,974
3,349,414
3,924,982
-
-
-
-
94,617
3,981
467,668
566,266
628,211
45,955
3,817,082
4,491,248
-
-
2,610,356
2,610,356
574,402
45,955
1,206,726
1,827,083
53,809
53,809
628,211
45,955
3,817,082
4,491,248
**Restricted**|**Total**
**2020**
**£**
28,275
14
88,378| |---|---|---| |||116,667| |||96,345| |||20,322
-
(76,924)
83,778| |||27,176| |||3,897,806
-
27,176| |||3,924,982| |||2,231,932
1,643,063
49,987| |||3,924,982| Page 6 Draft 23.05.2022 ## **THATCHAM PAROCHIAL ALMSHOUSE CHARITY** ## **BALANCE SHEET As at 31 December 2021** |**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**|**2021**
**£**
2,610,356
1,827,083
4,437,439
26,139
29,584
37
(1,951)
53,809
4,491,248
3,817,082
45,955
628,211
4,491,248|**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| ## **Trustees:** Chairman Date: ……………… Trustee Date ……………… Page 7 Draft 23.05.2022 ## **THATCHAM PAROCHIAL ALMSHOUSE CHARITY** ## **NOTES TO THE ACCOUNTS For the year ended 31 December 2021** ## **1 Accounting policies** The accounts have been prepared on the receipts and payments basis. |**2**|**Accumulated income fund**|**2021**|**2020**| |---|---|---|---| |||**£**|**£**| ||**Income**||| ||Almshouses||| ||Maintenance|76,440|76,240| ||Heating|12,168|12,138| ||Donations received|-|-| ||Administration fee from Relief in Need|2,750|-| |||91,358|88,378| ||**Expenditure**||| ||Almshouses||| ||Repairs|43,613|47,361| ||Light and heat|10,018|7,696| ||Council tax|-|-| ||Water|1,698|3,025| ||Telephone|2,458|2,003| ||Emergency care|1,015|1,150| ||Window cleaning|1,215|945| ||TV Licences|42|1,176| ||Total Almshouse expenses|60,059|63,356| ||Adminstration expenses||| ||Salaries|21,589|21,679| ||Insurance|2,515|2,477| ||Office rent|1,252|1,180| ||Office service charge|2,000|2,047| ||General expenses and stationery|562|883| ||Advertising|-|432| ||Subscriptions|-|296| ||Telephone and internet|706|749| ||Printing|180|399| ||Surveyors' fees|-|1,456| ||Examination fees|1,032|1,032| ||Total administration expenses|29,836|32,630| ||Total expenditure|89,895|95,986| ||**Excess of income over expenditure**|1,463|(7,608)| |**3**|**Moor Meadow fund**||| ||Payment of 6/16 of investment income to||| ||Thatcham Vicars and Churchwardens|501|359| Page 8 Draft 23.05.2022 ## **THATCHAM PAROCHIAL ALMSHOUSE CHARITY** ## **NOTES TO THE ACCOUNTS - CONTINUED For the year ended 31 December 2021** ## **3 TANGIBLE FIXED ASSETS** |**At cost or valuation**
At 31 December 2020
Increase in value in the year
At 31 December 2021
**Depreciation**
At 31 December 2019
Charge for the year
At 31 December 2020
**Net book value at 31 December 2021**
Net book value at 31 December 2020|**45/47 Chapel**
**Nine Shilling**
**Street**
**House**
**Total**
**£**
**£**
**£**
1,049,009
1,182,923
2,231,932
177,859
200,565
378,424
| |---|---| ||1,226,868
1,383,488
2,610,356| ||-
-
-
-
-
-| ||-
-
-| ||1,226,868
1,383,488
2,610,356| ||1,049,009
1,182,923
2,231,932| The properties 45,47 Chapel Street and Nine Shilling House have been revalued at 30 June 2021 at the insured cost of £2,610,356 in accordance with the BIA House Rebuilding Cost Index by the insurers Ecclesiastical Insurance Office plc. |**4**|**INVESTMENTS**||**2021**||**2020**| |---|---|---|---|---|---| ||||**£**||**£**| ||**MARKET VALUE**||||| ||At the beginning of the year||1,643,063||1,664,987| ||Additional investment||35,000||55,000| ||Net investment gain (loss)||149,020||(76,924)| ||At the end of the year||1,827,083||1,643,063| ||**COST at 31 December 2021**||770,812||735,812| ||**HOLDINGS - AT MARKET VALUE - AT 31 DECEMBER**|**202Bid price £**|**Value**|**Bid price £**|**Value**| |||**at 31/12**|**£**|**at 31/12**|**£**| ||Permanent Endowment||||| ||91,725.000 Charinco Distribution|1.837|168,499.00|1.970|180,698| ||145,125.403 Charishare Distribution|7.154|1,038,227.00|6.455|936,784| ||Total||1,206,726.00||1,117,482| ||Extraordinary Repair Fund (Surplus Income)||||| ||1,326.671 Charinco Accumulation|52.960|70,260.00|54.990|65,814| ||19,910.030 Charishare Accumulation|23.430|466,491.00|20.500|382,862| ||Total||536,751.00||448,676| ||Moor Meadow Fund||||| ||1,630.742 Charinco Distribution|1.837|2,996.00|1.970|3,213| ||6,004.849 Charishare Distribution|7.154|42,959.00|6.455|38,761| ||Total||45,955.00||41,974| ||Surplus Income||||| ||3,068.363 Charinco Distribution|1.837|5,637.00|1.970|6,045| ||4,475.005 Charishare Distribution|7.154|32,014.00|6.455|28,886| ||Total||37,651.00||34,931| ||||||| ||||1,827,083.00||1,643,063| Draft 23.05.2022 Page 9 ## **THATCHAM PAROCHIAL ALMSHOUSE CHARITY** ## **NOTES TO THE ACCOUNTS - CONTINUED For the year ended 31 December 2021** ## **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 2020**
**(loss)**
**31 Dec 2021**
**£**
**£**
**£**
3,349,414
467,668
3,817,082
41,974
3,981
45,955
34,931
2,720
37,651
448,676
88,075
536,751
49,987
3,822
53,809
533,594
94,617
628,211| |---|---| ||3,924,982
566,266
4,491,248| ## **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.