DUNK'S ALMSHOUSE CHARITY CHARITY NUMBER 240563 FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022
DUNK'S ALMHOUSE CHARITY FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022 INDEX PAGE Legal and Administrdtive Information Truscees, Report Independent Examiner's Rep)rt Ststement of Financial Activitses Balance Sheet Notes to the Financial staments Income and Expenditure Account
Dunies Almshouse Charity Legal and Administrative Inforniation Trustees Following a resolution da 23 April 2013 the intsntion is for there to be eleven trustees. These would consist ofr One Ex-officio Tru - teing the wcar for the time being ofthe Parish of Hawkhurst (but the vicar ha5 resigned from the Board of Trustees with effect from 5 August 2022 and has not been replaced). Five representative Trustees- being apFointrd by the Parish Council of HawkhursL Six co-optauve Trustees - being persons residing or carrying on busine$5 in or near the Ancient Parish of Hawkhursc The Trus$ who have served during the year Ye. Mr N Collison Mr5 C Rea Rev R G Dreyer Mrs E B Weathedy Mrs S Cornish Mrs J Faulkner Mrs M Woodyer Mr C Faulkner Miss E C Roberts S Bartley Mrs G Cannon Mrs H Van Kan Representative and Chairnmn Representative Treasurer Ex Officio resigned 5 August 2022 RepresentstFve- resigned 26 January 2023 Representative c(pEaVe Co-OPt3tive - resigned 8 August 2022 optative CowOPtative Cothoptstive- resigned I S May 2023 Representaove- appointed l O November 2022 Representative- app)inted 19 January 2023 Principal Office Clerk to Trus¢ees Mrs L Panting Dunks Office Flat 5 Dunk's Almshouse Rye Road Hawkhursc Kent TN18 4HF Bankers Barclays Bank plc A5hford Branch 66 High Street Ashford Kent TN24 8TL Solicitor Buss Murcon LLP Clermont House Independent Examiner Mccabe Ford Williams Bank Chambe High Street CKANBROOK CRANBROOK Kent TN173DN Kent TN173EG Page I
Dunies Almshouse Charity Trustees. Report Objects Of The Charity The objects of the Chariry are to provide accomrnodacion for poor persons of good charatter who (except in special cases to be approved by the charity commission) haye resided in the area of the Aneient Parish of Hawkhurs¢ for not les5 than two years prior to their appointment The charity was established by the Will of Sir Thomas Dunk dated 8 July 1718 by which he bequeathed land at Hawkhurs¢ Kenc on which he dIreCd that a lyjilding should be eretted with money also bequeathed by him to comprise six almshouses. a school and a Schoolmasr'S house to be administered by trustees as described in his will. The building wa5 erected after his death by his executor and the charity was orgdni5ed in accordance with his direcrion The building was extended in the 19 cenwry to provide more space in the almshouse5. By an Order of the Charity Commission dated 19 August 1904 the part of the Charity comprising the almshouses separated from the part held for educational purpose5, the two charities to be henceforth called Dunk's Almshouse Chartry and Dunk's Educational Foundation respectivety. Dunk's Almshouse Charity (including another charity called Springett's Eleem05ynary Donation) are now governed by a Scheme made by the Chariry Commission dated 15 February 1916 a5 varied by a Scheme dated 25 September 1970. In 1969170 the six almshouses together with a part of the buildin& which was leased to Dunk's mshouse Charity by Dunk'5 Educational Foundation by a lease for 99 years from l June 1970, were converted into eleven modernised almshouses. In 1991 National Westminster Bank PLC donated to the Trustees of Dunk's Almshouse Charry a piece of adjoining land to be used for the purp05e5 of the Chariry and UFX)n the tharitsble trusts applioble thereto. Four bLrngalows were built behind the Origin almshouses over the period from l January 1998 to 31 December 20CiI. From 20 January 1998 the Charity is a Registered Sociai Landlord under the Housing Act 1996 Organisation The Trustees who Seed during the year are Set out on page on& The Representative Trus$ are appointed by the Parish Council and the CowOPtative Trustee5 are people residing or (3rrying on a business in or near the Parish of HawkhursL The trustee5 meet quarterty. Page 2
Dunles Almshouse Charity Tru5tees' Report Continued Reserves Policy It ds the policy of the chariry to build up the Extrnordinary Repair Fund to a target of £200,O¢JO by 2017. to provide sufficient funds to deal with a major emergency, such as a fire wth consequent costs of rehousing the residents during a period of repair. The Cyclical Maintenance Fund should be maintsined ac a level to adequatety cover the budgeted MaInnanCe costs for the forthcoming year. while the General Fund should be maintained at a level to adequatrly cover the budgeted cos excluding the maintenance costs. for the coming year. At the year end the balance on the Extraordinary Repair Fund stood at £332,683. Risk Management The Trustees have assessed the major risks to vthich the chartty is exposed. in parttcular those relating to the building. opernrions and finance5 of the charity and are satisfied that systems are in place co mtcigate their exposure to the major risk Public Benefit The trustees confirm that they have referred to the guidance contained in the Charity Commission's general guidance on public benefit when reviewing the Trust's aims and objecuyes and in planning future activitie5. ststement of Trustees. Responsibilities Charity law requires the Trusrees to prepare financial statements for each financial year which ve a true and fair view of the affairs of the Charity and of its financial activities for that period. In preparing those financial Staternen the Trustees are required to: . select suitable accounting 1cleS and appty those FK)licies consistentlr, b) make judgements and estimates that are reasonable and pruden( sratr whether applicable accounting standards and st2ments of recommended practice have been followed subject to any deparnires disclosed and explained in the financial sratementS.' d) prepare the financial statements on the going COnrn basis unless it is inappropriate to presume that the charity will continue in operation. The Trustres are responsible for keeping proper accounting records which disclose reasonable accurdcy at any time the financial position of the Chartry and to enable theTn to ensure that the financial statements comply the relevant provisions of the Charities Att 2011. They are also responsible for safeguarding the assets of the charity and, henc< for tsking reasonable steps for the prevention and detecuon of fraud and other irregularities. Page 3
Dunies Almshouse Charity Trustees. Report Continued Review of The Year and the Future Dunk5 Almshouse Charty held a good 2nd stable financial position throughout 2022. This despite rising utility costs and ongoing maintenance of the residential properties, school hall and communal 2re2S. Trustee Nigel Collison Trustee C Rea Date SJ 7.13 Page 4
Dunvs Almshouse Charity Independent Examinerfs Report to the Trustees of the Dunk's Almshouse Charity We report on the accounts of the Trust for the year ended 31 December 2021 which are Set out on page5 1 to 12. Respective responsibilities of trustees and examiner As the charity's trustees you are responsible for the prepardtion of the accounts; you consider that the audit requirement of settion 144 of the Charrtie5 Att 2011 (the Att) does not apply. It is my responsibility to examine the accounts {under section 145 of the 201 l Affj to follow procedures laid down in the General Directions &riven by the Charity Commissioners under sectyon 145(5)Ib> of the 201 l Att and to sttte Ythether particular matters haye come to our attention. Basis of independent examinerfs report My examination ds carried out in accordance th the Genernl Directions @'ven by the Charity Commissioners. An examination includes a wew of the accoijniing records kept by the charity and a comparison of the accounts presented with those records. It also includes considet7uon of any unusual items or disclosures in the accounts and seeking explanaiions from you as trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an aud[¢ and consequently we do not express an audit opinion on the view ven by the accounts. Independent examinerfs statement In connection with my examination. no matter has come to our attention: (l ) which gives me reasonable cause to believe that in any material respett the r4uirements to keep accounting records in accordance section 130 of the A¢ and to prepare accounts which accord with the accounting records and to comply with the accounting requirements of the Att have not been me¢ or (2) to which. in my opinion. attention should be drawn in order to enable a proper understanding of the accounts to be reached. DBOO yer Mccabe Ford Williams Chafftred Accountant Bank Chamber5 High Street Crnnbrook Kent TN17 3EG . ZOLJ
DunV¥A1mshoolty Stst•m•ntfAFInanaAd¥lfj For th¢Ye4r lderf 31 Dqttrrthv 1022 T¢X JI.IL Interex 4J2 5J SJg• •6.ll52 5J52 114 101174 1011174 93.98D Rencpahl Cyclkal 957 957 457 3137 4.781 5Z¥ 4J46 10059 IOW9 tax 3,3 3J45 3.275 3.401 Insur¥Ke 3J45 34J46 42J•S 71hS2 69.479 ACC1 CkTW&feps 033 g.QPJ 7,969 85,745 77.448 (34M6) 5•h75 14J I32 {117n) IM) 6Y.452 (1177J) (34J161 44556 P4.047) Trants rts Cytr 5•.WD Iiim) 41•4) rs (58411 (JW Re¢indll*M dknds TO1 frJnth &vOutfOrWd 265,703 J6fi.78Y 712 lJJ.9 7ty5314 251 3JlUJ 7S4,OJI 79TJ98
Dunk's Almshouse Chwity Balante Sheet As at 31 December 2022 Pern)anent Extraorrfinary Cydical Endowmert Repalr Mwntenanre fj¢ner31 Fund Tot Total Fund Fund Fund 31.1122 Note Freehold Property Cost 239,153 (83.233) 155,920 239.IS3 (83,233) 155.920 239.153 183,2331 ISS,920 Less soc1 Heusing Granr Investment$ 97.070 331683 46.50S 476.258 529,254 Flxed A55ets 2Si990 331083 46,505 631178 685,174 Current Assets Debtors and prepaym COIF Depos1¢ Curyent Account & cash I169 27.289 71419 101,B77 1169 67.705 72.419 142.293 5,611 61,682 45,401 112.704 4Q416 40.416 Current Llabllitie5 Creditors 19,840 19.840 6.580 Net Current A%sets 40.410 8I037 122.453 Net Assets 25L990 331683 40.416 128,542 754.631 791,298 Funds Perm3nent ErthW[t Fund Extraordinary Retwr Fund Cycllcal Fund General Fund 2549YQ 2S1990 331683 40.416 128.S42 754.631 165,763 366,787 24.762 133.986 791.298 331683 40.416 128,542 128.542 2S2.990 33L683 40.410 The financial statements have bÉen prepared in accorthnce th the rewiremerrts of FPS102 and of the of Recommended Practice. Accounting and Reporring by Ch¥iiie& Approved by the Trustees Signed Nigel Collison sed C Rea Dated 31.7.2)
Dunles Almshouse Charity Notes to the Financial Statements for the year ended 31 December 2022 I. ACCOUNTING POLICIES asis of Preparation These accounts combine the accounts of all funds which are governed by the terms of the order dated 15 February 1916. They have been prepared on the accruals basi5 and include itsms of income and expenditure as they are earned or incurred. rather than as cash is received or paid. The accounts are prepkred in accordance with the provisions of Section l A "Small Entities" of Financial Repong Standard 102 "The Financial Reporung Standard applicable in the UK and Republic of Ireland" and the Sratement of Recommended Pracuce "Accounting and Reportyng by Charities" 2015. They have been prepared under the histori¢31 cox convention txtspt for investments vthich are carried at market Ydlue. The accounts are stated in £. Fund Accounting The Charity's Permanent Endowment Fund comprises the ori&rinal land and buildings together th subsequenc addityons and certain invesunen The Charitls unrestricted funds consist of funds which the chariry may use for its purposes at its discretion. The Charity has set aside cerrain Sums in designated funds as follows: Cyclical Maintenance Fund. Funds Set aside by the Chancy 10 cover reFAirs and maintenance of the properties necessary at irregular intrrvals. This is maintsined to meet the next yearfs annual MainnanC Extraordinary Repair Fund. Funds set aside by the Charity for future major works. improvements and replacement expenditure. Fixed Assets and Depreclation Fixed assets are fdlued at the cost of land and buildings incurred by the Chariry. No value is included for the oriwnal land and buildin bequeathed to the Charity or subsequent &ifts prior to the introducuon of the chariues SORP in 1995. The land and building5 are considered to be inalienable and to have an indefinitety long useful life. An annual provision is made for maintenance and repairs but depreciauon is not provided on the grounds that the annual charge and accumulated fijnd would not be marial. The social housing grdnt is shovffj as a deductyon in accordance vth the Generdl Dererniination 2006 for Registered Social Landlord5. Page 8
Dunies Almshouses Charity Notes to the Financial Statements for the year Ended 31 December 2022 Investments Investments are included in the accounts at market value. Investment Income Dividends are credited in the accounts when received and credtc is taken for interest when it falls due. Administration Expenditure Administrntton expendicure comprises all costs incurred in running the Charity and are recognised when a legal and constrLKtNe obligation is established. Going concern The trustees consider that the is no material uncertainty relating to going concern and consider that the Charity is in a position to meet its financial obligations as they fall du& 2. INCOME AND EXPENDITURE 31.12.22 31.12.21 Maintenance contributions receivable in the year £96,052 £88.714 Arrears due on 31.12.22 £3.125 There were no service charges or revenue grants recer¥ed in the year. There were no maintenance contribution5 losses during the year (2021-£3,867). Accommodation in Management At 31 December 2022 there were eight double and seven single flats owned and managed by the Charity, of which 14 were housing accommodation units. One single flat has been converted to provide laundry facilities and office tscilitie& Income 15 recorded Ythen due. Page 9
Dunies Almshouse Charity Notes to the Financial Statements for the year ended 31 December 2022 2. INCOME AND EXPENDITURE (continued) Employees There was one employee during the year. No trustees receNed any remuneration during the year. 3. FIXED ASSETS Freehold Properry C05t brought 10Thard at l January 2022 Additions in year 31.12.21 31.12.21 239.153 239,1 $3 Cost carried forvfdrd at 310ecember 2022 £239.153 £239.153 4. INVESTMENTS 31.12.21 31.12.21 Endowment Fund 5340.89 COIF Income Share5 97,070 109.843 £97,070 £109.843 Extraordinary Repair Fund 2.032.19 COIF Income shares 1.340.05 COIF Accumulation shares 36,935 295,748 41.795 324.992 £332.683 £366,787 31.12.22 31.12.21 General Fund 1558.73 COIF Income shares 46.505 52.624 Page 10
Dunles Almshouse Charity Notes to the Financial Statements for the year ended 31 December 2022 5. RELATED PARTh TRANSACTIONS Dunk's And Springett's Educational Foundation (Charity Number 307664) is under the control of the same Committee of Trustee& During the year Dunk's And Springett's Educational Foundation charged Dunk's Almshouse Charity £8,957 in rent for 3 flats (2021: £8,454. In addition, some charges made to Dunk's Almshouse Chariry are recharged to Dunk's And Springett's Educational Foundation. At the year end Dunk's And Springett's Educational Foundation owed Dunk's Almshouse Charity £498 (2021.. £402). Payments totalling £27,549 were made in the year to Mr C Faulkner. These were approved by the Building sub-committee and Mr Faulkner did not participate in the vote. It is regarded to be open market value for the work performed. Payments totalling £555 were made in the year to Mrs J Faulkner for cleaning services. It is regarded to be open nurket value for the work Ferfornied. 6. TRUSTEE REMUNERATION AND EXPENSES No trustees have been paid remunerntion or expenses during the year. Page 11
Dunk's Almshouse Charfty Inwme arLd Expefiditsre AcCnt Forthe Y&v enthd 31 December 2022 Fund Fund Fund Fund Jl.IL22 31.1121 Turnovtr MaIntenan contri1 96.052 96.052 86.714 Less Opernting Costs Rwc pald Cyclld Mtran Other MntenanCe &957 8,9S7 34.346 8,457 37,037 4,781 527 34J46 10,059 10.059 Gardening ttraordinary tnwnfw te5 3.093 3.845 3.093 3M45 3.175 3.401 408 Insurance Trustee insuran Ga5 and dettrfclty A¢counwcylAudit Professlonal fees aa)nlng Clerk's fees and expenses Offitt costs 9.147 1.038 348 033 266 510 266 ial 3CtiYiDe5 510 1.588 34.346 49.443 8S.744 Operadn8 Surplus 134J461 46.609 10.308 Fofil1LOss oflnbwtrr* Interest rKei¥able Oth IOrn 6.022 6.022 5266 Surplu5 on ordimary a¢tsvitses before taatiori 134.3461 51631 1&330 16,532 T3x on SU5 on ties Gonr receivible against twdon Suryl¥sforthe year 134.3461 51631 16.330 16532 Transfer to Cydical thjnd Transfer to Extraordinary Fund $0.000 (50,000) Unreallsed Inl00s5esTr en In$trts 1117731 134.1051 1(119) 15199n 69.452 ft•¢¢yKiliation of Fumd. 265,763 36&787 24,762 133.986 791,298 705.314 2519YJ 3316B2 34.297 136.617 754.631 791.298 The resuk lor theyw rdates wwy to cwunulrq actmtye Page 12