## **THATCHAM PAROCHIAL ALMSHOUSE CHARITY**
## **FINANCIAL STATEMENTS**
**FOR THE YEAR ENDED 31 DECEMBER 2023**
**Charity registered number: 239850**
## **THATCHAM PAROCHIAL ALMSHOUSE CHARITY**
## **FINANCIAL STATEMENTS For the year ended 31 December 2023**
|**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) Michael Jon de Courcy Cole Brian George Wheeler (left in Dec 2023) 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 (left in Jun 2023) Church Warden Paul Bullock (left in Jun 2023) Church Warden Colin Waters Church Warden Michael Watson (joined in Jun 2023) Church Warden Susan Ball (joined in Jun 2023) 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 2023**
## **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 2023**
## **Principal activities and review**
The object of the Charity is to provide almshouse accommodation for people aged over 55 years who are in housing need & are from within the the parishes of either Thatcham, Cold Ash, Greenham or Midgham.
The Trustee board met for the four scheduled meetings throughout 2023. There were 3 changes to the Trustee board during the year. Our Cold Ash parish council representative trustee retired after 55 years of dedicated service to the charities. The occasion was marked at his final meeting in December. The trustee board continues to bring a broad range of skills and expertise to support the work of the charity and a new trustee will be actively sought in the new year.
The Trustees agreed unanimously not to increase the weekly maintenance contributions in May & there continues to be no increase since 2017. The variable energy costs still present a challenge & trustees are very keen not to increase the heating and lighting contributions after the last increase in 2022. Income & expenditure for H&L are reviewed at each meeting & residents are aware of this & the fact that the charity does it's very best to seek the most cost effective contracts & continue to emphasise that no resident will be put into any financial hardship.
During the year we said a sad farewell to two very long standing residents. One lady passed away in the latter half of 2023 & not long after her neighbour moved out of her almshouse accommodation & into more sheltered accommodation. These neighbours had created a very happy environment within their community & are missed by everyone. This means that currently, there are 2 vacant flats are within the oldest almshouse building & so there is a more internal works to be carried out before the charity can welcome new residents in the first half of 2024. With the unpredictable & rising costs of services & materials, 2023 was another year of substantial expenditure & with similar if not more, forecast for 2024. Investment into the ERF during 2023 has therefore been limited.
## **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:
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 2023, 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: 24 June 2024
Page 5
## **THATCHAM PAROCHIAL ALMSHOUSE CHARITY**
## **STATEMENT OF FINANCIAL ACTIVITIES For the year ended 31 December 2023**
|**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
**2023**
Income
Meadow
Endowment
**£**
**£**
**£**
**£**
1,267
1,551
40,624
43,442
423
-
-
423
90,130
90,130
91,820
1,551
40,624
133,995
113,600
581
-
114,181
(21,780)
970
40,624
19,814
41,594
(970)
(40,624)
-
50,253
2,323
57,430
110,006
-
-
125,863
125,863
70,067
2,323
183,293
255,683
633,199
43,839
4,030,714
4,707,752
-
-
-
-
70,067
2,323
183,293
255,683
703,266
46,162
4,214,007
4,963,435
-
-
3,020,748
3,020,748
634,391
46,162
1,193,259
1,873,812
68,875
68,875
703,266
46,162
4,214,007
4,963,435
**Restricted**|**Total**
**2022**
**£**
42,057
22
92,313|
|---|---|---|
|||134,392|
|||114,140|
|||20,252
-
(88,277)
284,529|
|||216,504|
|||4,491,248
-
216,504|
|||4,707,752|
|||2,894,885
1,753,806
59,061|
|||4,707,752|
Page 6
## **THATCHAM PAROCHIAL ALMSHOUSE CHARITY**
## **BALANCE SHEET As at 31 December 2023**
|**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**|**2023**
**£**
3,020,748
1,873,812
4,894,560
12,708
55,527
18
622
68,875
4,963,435
4,214,007
46,162
703,266
4,963,435|**2022**
**£**
2,894,885
1,753,806|
|---|---|---|
|||4,648,691|
|||11,474
46,663
48
876|
|||59,061|
|||4,707,752|
|||4,030,714
43,839
633,199|
|||4,707,752|
## **Trustees:**
Chairman Date: 1 July 2024 Trustee Date 1 July 2024
Page 7
## **THATCHAM PAROCHIAL ALMSHOUSE CHARITY**
## **NOTES TO THE ACCOUNTS For the year ended 31 December 2023**
## **1 Accounting policies**
The accounts have been prepared on the receipts and payments basis.
|**2**
**Accumulated income fund**
**Income**
Almshouses
Maintenance
Heating
Donations received
Administration fee from Relief in Need
**Expenditure**
Almshouses
Repairs
Light and heat
Alternative accommodation
Water
Telephone
Emergency care
Window cleaning
TV Licences
Total Almshouse expenses
Adminstration expenses
Salaries
Insurance
Office rent
Office service charge
General expenses and stationery
Subscriptions
Telephone and internet
Printing
Examination fees
Total administration expenses
Total expenditure
**Excess of income over expenditure**
**3**
**Moor Meadow fund**
Payment of 6/16 of investment income to
Thatcham Vicars and Churchwardens|**2023**
**£**
73,535
13,845
-
2,750
90,130
50,556
20,416
2,142
2,468
2,072
474
1,080
547
79,755
24,688
3,027
1,261
2,023
592
-
848
331
1,074
33,844
113,599
(23,469)
581|**2022**
**£**
76,020
13,543
-
2,750|
|---|---|---|
|||92,313|
|||61,550
12,897
700
2,530
2,389
913
1,080
759|
|||82,818|
|||21,806
2,665
1,230
2,000
524
615
716
172
1,032|
|||30,760|
|||113,578|
|||(21,265)|
|||562|
Page 8
## **THATCHAM PAROCHIAL ALMSHOUSE CHARITY**
## **NOTES TO THE ACCOUNTS - CONTINUED For the year ended 31 December 2023**
## **3 TANGIBLE FIXED ASSETS**
|**At cost or valuation**
At 31 December 2022
Increase in value in the year
At 31 December 2023
**Depreciation**
At 31 December 2022
Charge for the year
At 31 December 2023
**Net book value at 31 December 2023**
Net book value at 31 December 2022|**45/47 Chapel**
**Nine Shilling**
**Street**
**House**
**Total**
**£**
**£**
**£**
1,360,597
1,534,288
2,894,885
512,267
386,404
-
125,863|
|---|---|
||1,872,864
1,147,884
3,020,748|
||-
-
-
-
-
-|
||-
-
-|
||1,872,864
1,147,884
3,020,748|
||1,360,597
1,534,288
2,894,885|
The properties 45,47 Chapel Street and Nine Shilling House have been revalued at 30 June 2023 at the insured cost of £3,020,748 in accordance with the BIA House Rebuilding Cost Index by the insurers Ecclesiastical Insurance Office plc.
|**4 INVESTMENTS**
**MARKET VALUE**
At the beginning of the year
Additional investment
Net investment gain (loss)
At the end of the year
**COST at 31 December 202x**
**HOLDINGS - AT MARKET VALUE**
**Bid price £**
**31.12.2023**
Permanent Endowment
91,725.000 Charinco Distribution
1.483
145,125.403 Charishare Distribution
7.285
Total
Extraordinary Repair Fund (Surplus Income)
1,432.918 Charinco Accumulation
46.278
20,774.211 Charishare Accumulation
25.557
Total
Moor Meadow Fund
1,630.742 Charinco Distribution
1.483
6,004.849 Charishare Distribution
7.285
Total
Surplus Income
3,068.363 Charinco Distribution
1.483
4,475.005 Charishare Distribution
7.285
Total|**2023**
**£**
1,753,806
10,000
110,006
1,873,812
795,812
**Value**
**Bid price £**
**£**
**31.12.2022**
136,067
1.459
1,057,192
6.904
1,193,259
66,312
43.652
530,929
23.403
597,241
2,419
1.459
43,743
6.904
46,162
4,552
1.459
32,598
6.904
37,150
1,873,812|**2022**
**£**
1,827,083
15,000
(88,277)|
|---|---|---|
|||1,753,806|
|||785,812|
|||**Value**
**£**
133,856
1,001,973
1,135,829
60,527
478,237
538,764
2,380
41,459
43,839
4,478
30,896
35,374|
|||1,753,806|
Page 9
## **THATCHAM PAROCHIAL ALMSHOUSE CHARITY**
## **NOTES TO THE ACCOUNTS - CONTINUED For the year ended 31 December 2023**
## **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 2022**
**(loss)**
**31 Dec 2023**
**£**
**£**
**£**
4,030,714
183,293
4,214,007|
|---|---|
||43,839
2,323
46,162|
||35,374
1,776
37,150
538,764
58,477
597,241
59,061
9,814
68,875|
||633,199
70,067
703,266|
||4,707,752
255,683
4,963,435|
## **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.