THATCHAM PAROCHIAL ALMSHOUSE CHARITY
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
Charity registered number: 239850
THATCHAM PAROCHIAL ALMSHOUSE CHARITY
FINANCIAL STATEMENTS For the year ended 31 December 2024
| 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 Ivor McArdle Gary Puffet Colin Waters (Vice Chairman)
Thatcham Town Council Thatcham Town Council Cold Ash Parish Council Greenham Parish Council Midgham Parish Council
Ex officio
Revd. Mark Bennet Michael Watson Sarah Goode Susan Ball
Rector St Mary's Thatcham Church Warden Church Warden Church Warden
Clerk to the Trustees: Mrs J A Davis Charity Office Thatcham Parochial Charities Central Family Hub Park Lane Thatcham RG18 3PG 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 2024
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, Thatcham Family Hub, Park Lane, Thatcham, RG18 3PG
Page 3
THATCHAM PAROCHIAL ALMSHOUSE CHARITY
REPORT OF THE TRUSTEES - CONTINUED For the year ended 31 December 2024
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 2024. There were several changes to the Trustee board during the year. We welcomed a new Cold Ash Parish Council representative and said goodbye to our Midgham Parish Council representative trustee. A long serving ex-officio Trustee was voted in by the parish council as the new Midgham representative and then elected in by the trustee board as Vice Chairman. The trustee board continues to bring a broad range of experience, skills and expertise to support the work of the charity. The charity also relocated to new Thatcham offices in October so 2024 was very much a year of changes.
The Trustees agreed to make a small increase in the weekly maintenance contributions in May but well within the local authority allowance & the Valuation Office fair rent boundary. The variable energy costs still present a challenge & trustees were keen not to increase the heating and lighting contributions since the the last increase in 2022. However, the 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. The quinquennial survey & subsequent report was produced at the end of the year. This will be scrutinised and a small sub committee set up to investigate alternative energy saving options.
During 2024 one resident moved into a care home and a lady who had lived with us for seven years passed away very suddenly which was very upsetting for our small community. Throughout the year, some substantial works were carried out to three flats and eventually we welcomed three new residents. A fourth flat is currently undergoing a makeover & we hope to fill the vacancy in early 2025. Investment into the ERF during 2024 has 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.
Mrs J A Davis 2 June 2025
Clerk to the Trustees Date:
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 2024, 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: 27 May 2025
Page 5
THATCHAM PAROCHIAL ALMSHOUSE CHARITY
STATEMENT OF FINANCIAL ACTIVITIES
For the year ended 31 December 2024
| Notes Unrestricted Total Accumulated Moor Permanent 2024 Income Meadow Endowment £ £ £ £ Resources arising: Investment income 1,319 1,620 42,293 45,232 Deposit account interest 544 - - 544 Income 2 87,501 - - 87,501 Gross resources for the year 89,364 1,620 42,293 133,277 Resources used: Expenditure 2/3 145,095 608 - 145,703 Changes in resources before transfers and valuations (55,731) 1,012 42,293 (12,426) Transfers 43,305 (1,012) (42,293) - (Loss) gain on revaluation - investments 34,257 1,115 23,494 58,866 (Loss) gain on revaluation - property - - 99,685 99,685 Net movement in resources for the year 21,831 1,115 123,179 146,125 RECONCILIATION OF FUNDS Balance brought forward 703,266 46,162 4,214,007 4,963,435 Adjustment for provisions - - - - Net movement in resources 21,831 1,115 123,179 146,125 Balance carried forward 725,097 47,277 4,337,186 5,109,560 Represented by: Property - - 3,120,433 3,120,433 Investments 678,648 47,277 1,216,753 1,942,678 Current assets 46,449 - - 46,449 725,097 47,277 4,337,186 5,109,560 Restricted |
Total 2023 £ 43,442 423 90,130 |
|---|---|
| 133,995 | |
| 114,181 | |
| 19,814 - 110,006 125,863 |
|
| 255,683 | |
| 4,707,752 - 255,683 |
|
| 4,963,435 | |
| 3,020,748 1,873,812 68,875 |
|
| 4,963,435 |
Page 6
THATCHAM PAROCHIAL ALMSHOUSE CHARITY
BALANCE SHEET As at 31 December 2024
| 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 |
2024 £ 3,120,433 1,942,678 5,063,111 8,548 36,303 50 1,548 46,449 5,109,560 4,337,186 47,277 725,097 5,109,560 |
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 |
Trustees:
Chairman Date: 2 June 2025 Trustee Date 2 June 2025
Page 7
THATCHAM PAROCHIAL ALMSHOUSE CHARITY
NOTES TO THE ACCOUNTS For the year ended 31 December 2024
1 Accounting policies
The accounts have been prepared on the receipts and payments basis.
| 2 | Accumulated income fund | 2024 | 2023 |
|---|---|---|---|
| £ | £ | ||
| Income | |||
| Almshouses | |||
| Maintenance | 71,352 | 73,535 | |
| Heating | 13,369 | 13,845 | |
| Donations received | 30 | - | |
| Administration fee from Relief in Need | 2,750 | 2,750 | |
| 87,501 | 90,130 | ||
| Expenditure | |||
| Almshouses | |||
| Repairs | 78,955 | 50,556 | |
| Light and heat | 17,510 | 20,416 | |
| Alternative accommodation | - | 2,142 | |
| Council tax on empty property | 120 | - | |
| Water | 2,939 | 2,468 | |
| Telephone | 1,970 | 2,072 | |
| Emergency care | 304 | 474 | |
| Window cleaning | 1,215 | 1,080 | |
| TV Licences | 843 | 547 | |
| Total Almshouse expenses | 103,856 | 79,755 | |
| Adminstration expenses | |||
| Salaries | 25,771 | 24,688 | |
| Insurance | 3,197 | 3,027 | |
| Office rent | 2,865 | 1,261 | |
| Office service charge | 2,117 | 2,023 | |
| General expenses and stationery | 577 | 592 | |
| Subscriptions | 487 | - | |
| Telephone and internet | 818 | 848 | |
| Printing | 209 | 331 | |
| Surveyors' fees | 4,028 | - | |
| Examination fees | 1,170 | 1,074 | |
| Total administration expenses | 41,239 | 33,844 | |
| Total expenditure | 145,095 | 113,599 | |
| Excess of expenditure over income | (57,594) | (23,469) | |
| 3 | Moor Meadow fund | ||
| Payment of 6/16 of investment income to | |||
| Thatcham Vicars and Churchwardens | 608 | 581 |
Page 8
THATCHAM PAROCHIAL ALMSHOUSE CHARITY
NOTES TO THE ACCOUNTS - CONTINUED For the year ended 31 December 2024
3 TANGIBLE FIXED ASSETS
| At cost or valuation At 31 December 2023 Increase in value in the year At 31 December 2024 Depreciation At 31 December 2023 At 31 December 2024 Net book value at 31 December 2024 Net book value at 31 December 2023 |
45/47 Chapel Nine Shilling Street House Total £ £ £ 1,872,864 1,147,884 3,020,748 61,805 37,880 99,685 |
|---|---|
| 1,934,669 1,185,764 3,120,433 |
|
| - - - |
|
| - - - |
|
| 1,934,669 1,185,764 3,120,433 |
|
| 1,872,864 1,147,884 3,020,748 |
The properties 45,47 Chapel Street and Nine Shilling House have been revalued at 30 June 2024 at the insured cost of £3,120,433 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 £ 31.12.2024 Permanent Endowment 91,725.000 Charinco Distribution 1.418 145,125.403 Charishare Distribution 7.488 Total Extraordinary Repair Fund (Surplus Income) 1,475.608 Charinco Accumulation 46.101 21,068.113 Charishare Accumulation 27.186 Total Moor Meadow Fund 1,630.742 Charinco Distribution 1.418 6,004.849 Charishare Distribution 7.488 Total Surplus Income 3,068.363 Charinco Distribution 1.418 4,475.005 Charishare Distribution 7.488 Total |
2024 £ 1,873,812 10,000 58,866 1,942,678 805,812 Value Bid price £ £ 31.12.2023 130,046 1.483 1,086,707 7.285 1,216,753 68,027 46.278 572,762 25.557 640,789 2,312 1.483 44,965 7.285 47,277 4,350 1.483 33,509 7.285 37,859 1,942,678 |
2023 £ 1,753,806 10,000 110,006 |
|---|---|---|
| 1,873,812 | ||
| 795,812 | ||
| Value £ 136,067 1,057,192 1,193,259 66,312 530,929 597,241 2,419 43,743 46,162 4,552 32,598 37,150 |
||
| 1,873,812 |