## **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|