DUNK'S ALMSHOUSE CHARITY A CHARITABLE INCORPORATED ORGANISATION CHARITABLE REGISTRATION NO 1203952 FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 DUNK'S ALMHOUSE CHARITY A Charitable Incorporated Organisation (Charitable Registration No 1203952) FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 IMDEX PAGE Legal and Administrative Information Tru5tee5' Report Independent Examiner's Report Statement of Financial Attivities Balante Sheet Notes to the FiTranci&l Statements Sta¢ment Of Financial Split Between Old And New Trust 12 Income and Expenditure Account Dunk's Almshouse Charlty A Charitable Incorporated Organisation Legal and Administrative Information Trustees Following a resolution dated 23 April 2013 the intention is for there to be eleyen trustees. These would consist ofr. One Ex-officio Tru5tee- being the vicar for the time being ofthe Parish of H&￿hurSt (but the vicar has reSi￿ed from the Board ofTrustees with effett from 5 August 2022 and has no¢ been replacedl- Five representstive Trus￿$ - being appointed by the Parish Council of HawkhursL Six co.optative Trus￿5 - being persons residin8 or Carry￿n8 on business in or near the Anci¢Dt Parish of Hawthurst. The Trustees who hive served during the year were.. Mr N Collison Mrs C Rea Mrs E B Weatherty S Cornish Mrs J Faulkner Mr C Faulkner Miss E C Roberts S Bartley Mrs G Cannon Mrs H Van Kan Mr C C Hobday Representative and Chalrman Represenr3rive Treasurer- resigned 25 Janvary 2024 Repre5entative- resigned 26 january 2023 Representative Co-OPtatyve Co-optstive Co-optatiye Co-optatyve- resigned 15 May 2023 Representstive Representative- appointed 19 January 2023 RepresentatNe Treasurer- appointed l November 2023 Principal Office Clerk to Trustees Mrs L Panting Dunks Offi Flat 5 Dunk's Almshouse Rye Road Hawkhurst Kent TN18 4HF Bankers Barc5ays Bank plc Ashlord Brinch 66 High Srreet A5hford Kent TN24 8TL Solicitor Buss Murton LLP Clermont House CRANBROOK Kent TN173DN Indèpendent Examiner Mccabe Ford Williams Bank Chambers High Street CRANBROOK Kent TN173EG Page I Dunk's Almshouse Charity A Charitable Incorporated Organisation Trustees, Report Incorporation As A Charttable Incorporated Organisation A new Chartsble Incorporated Organi5ation, Dunk'5 Almshouse Chirity was rewstsred on 12 july 2023. A resolution vrd5 passed on 3 August 2023 that all the property and assets of the Dunws mshou5e Charity (Charitable Registration No 2405631 be transferred to the newly formed Charitsble Incorporated Organisauon. Dunk's Almshouse Charity (Charitable Regstration No 12039521. This trnnsfer took place on 3 August 2023. The accounts have been prepared as merger accounts and disclose the 2022 figures for the Dunk'5 Almshouse Charity as comparative fwres and. ft)r the pr ended 31 De￿mber 2023. reflett the re5ukts of old Dunk's Almshouse Charity to the date of trtnrfer and for the Charitable Incorporated Organisavon for the remainder of the year. The splr( for the year is shown on the addition￿ note5 to the accounts. ObjectsOfThe Charity The objects of the Charity are to provide accommodatJon for poor person5 of good character who (except in specral case5 to be approved by the charity commission) have resided in the area of the Ancient ￿rIsh of Hawkhurst for not les5 than t￿0 year5 prior to their appointmenL The charv was e5tsblished by the Will of Sir Thoma5 Dunk dat& 8 july 1718 by which he bequeathed knd at HawkhursL Kent on which he diretted that a building should be erectsd with money ilso bequeathed by him to comprise six almshouses, a school and a schcM)Imastsf'5 house to be idmirnittwed by trutyes a5 described in his will. The building wa5 erected after his death by his executor and the clwiry ￿S Or￿nISed in accordan￿ with his direttions. The building was extended in the i * century to provide more space in the 3lm5houses. By an Order ol the Charity Commission dated 19 August 1904 the part of the Charity cornpri5ing the alrnsFK)uses was separated from the part held for educational purposes, the M chirities to be henceforth alled Dunk'5 Almshouse Charity and Dur5k's Educational Foundation respettively. DuThk's ￿M$hOuse Charity (including another chariry cilled Springett's Eleemosynary Donatlon) are now governed by a Scheme made by the Charity Comrnission dated IS February 1916 as Vdried by a Scheme d%Eed 25 September 1970. The Governing Document used at establishment of the Charity been carrled across on the formation ol the Charitable Incorporntsd Organisation on 12 july 2023. In 1969170 the 5r)( almshouses together with a part of the buildin& whith was leased to Dunk's Almshoule Charity by Dunk's Educational Foundation by i lease for 99 years from l June 1970, were CC*ThVtrted I￿t0 eleven modernised almshouses. In 1991 Nation￿ WestminsEr Bank PLC donated to the Trustees of Dunk's Almshouse Charity a piece of adjoining land to be used for the purposfs of the Charity and upon the charitable trusts applicable thereto. Fgur iwngakJWS werc built behind the Original almshouses over the period from l January 1998 to 31 December 2000. From Djinuary 1998 the Chariry is a RegI￿red Social Landlord under the Housing Act 1996 Page 2 Dunles Almshouse Charity A Charitable Incorporated Organisation Trustees, Report Continued Organisation The Trustse5 who served during the year are set out on page one. The Repre5entttive Trustees are appointed by the Parish Council and the Co.opr2tive Trustees are people re5idill8 or £&rrying on a business in or near the Parish of Hawkhur5t The trustees mee¢ quarterly. Reserves Policy It Wd5 the policy of the charity to build up the Extraordinary Repair Fund to a tsrget of £200.000 by 2017, to provide sufficient funds to del with a major ernergency. such as a fire wth consequent Costs of rehousing the residents during a period of repair. The Cyclical Maintenance Fund should be m&intained at a level to adequately cover the budgeted maintenance costs for the forthcoming year. while the General Fund should be mainrained at a level ro adequately cover the budgeted costs excluding thc maintenancg costs. for thg mming yp2r. At the year end the balance on th Extrlordinary Repair Fund Stood at £371662. Risk Management The Trustees have ass&ssed the major risks to which the chartty 15 exposed, in particular those relating to the buildin& operations and firnances of the charity and are satisfted that syrtems are In place to mitigte their exposure to the mator risks. Public Benefit The trustees confirm that they have referred to the guSdance contained in the Charity Commission's general guidance on public benefit when ￿vie￿ng the Trust's airn5 and ob*'ectsve5 and in planning future actyvities. Statement of Trustees. Responslbilities Charity law require5 the Trustses to prepare financial statements for each financial year which gNe a true and fair view of the affairs of the Chariry and of ics financial activme5 for that period. In preparlng those financial statements, the Trustees are required to.. . selett suitable aC£oUTr￿n8 policies and apply those policies tonsistently. b) make judgements and estimatr5 that are reasonable and prudenL Stats whether applicable accounting standards and statements of recomrllended pracuce have been followed subjett to any departures disclosed and explained in the financial sratsments; d} preyre the financial statements on the going concern basis uDle55 It is inappropriate to presume that the charity wll contynue in operation. The Trustees are responsible for keeping proper accourjting records which disc105e with reasonable accuracy at any time the financial position of the Chariry and to ena￿e them to ensure that the financial 5rAtement5 compty wth the relevant provisions of the Charities Ac¢ 2011. They are a150 responsible for safeguarding the assets of the charity and. hence, for taking reasonable steps for the prevention and detection of Iraud and other irregularities. Page 3 Dunk's Almshouse Charity A Charitable Incorporated Organlsation Trustses, Report Continued Review of The Year and the Future Dunks Almshouse Charity held a good and stable financial positlon throughout 2023. Thls was despite rising utility costs and ongoing maintenance of the residencial propercies, school hall and communal areas. In June 2024 Dunk'5 will hold a 300 year celebration aimed ac raising the Dunk's profile and generating funds for the education charity. Trustee Nigel Collison Trustee C Hobday Date.. rz4/z+ Page 4 Dunvs Almshouse Charity A Charitable Incorporated Or8anis*tion Independent Examinèrfs Report to the Trustees oftht Dunk's Almshguse Charity We reFOrt on the accounts of the Trust for the year ended 31 December 2023, which are set out on P￿e$ I to 13. Respective responsibilities of trustees and examiner As the chariry's trustee5 you are r8ssy)nsible for the preparation of the accounts,. you consider that the audit requirement of secuon 144 of the Charities Att 2011 {the Art) does not apply. It 15 my respot)sibility to examine the accounts lunder sertioTh 14S of the 2015 Act, to folSow procedure5 laid down in the General Direttions gNen by the Charity Commissioners under section 145(5llbl o( the 2011 Act and to state whether particular rnatters have come to our attention. Basis of independent examinerfs report My examinatyon was carried out in accordance with the General Directyon5 given by the Charity Commi&)iviiei-s. An examirlation includes a rAvi￿ of the accountyni records kept by the charity and comparison of the accounts presented with those records. It also includes considerntion of any unusual items or disclosu￿$ in the accounts and 5eeknng explanations from you as trustee5 oncerning any Such rnatters. The procedures undertaken do not provide all the evidence that would be required in an audiL and consequendy we do not express an audit opinion on the Yiew ven by the accounts. Independent examinerfs ststement In connection with my exarllination, no matter ha5 come to our attention.. (1> which &Ye5 me reasonable c2use to believe that in any material respect the requirements to keep accounting records in accordance wth section 5 30 of the Att.. and to prepare accounts which accord vAth the accotjnting records and to cornply wth the accounting requirements of the Att have not been me¢ or (2) to which, in my opinlon, attention should be drawn in order to enable a proper understanding of thè accounts to be reathed. Mcca Ford Williams CharLered Accountant B&nk Chambers High Street Cranbrook Kent TN17 3EG D￿￿k.$￿ImsbO￿￿• Chthty St#t•ment of Finandal Actfvl&i Forth0Yw•￿jo￿ 31 DtstèmbEr2023 Purr¥wient knordlmary Endo¥Thnt Rop￿￿ Fund Fund CyclK To Tvt Fttnd IncoTntrand EThlowfflwts trorn: Do￿ti[)￿S IntwÉrt D￿￿eThJI MakntWCE CoDtthJtbns 500 1.067 500 3.067 5,390 96.052 91,051 IDB.029 IOB.019 101074 IncDrn Hrrfj Efftdowm¢nts E%p•nditslrn an.. Dir¢ctCharftsblè Eypanditllrn ken¢pild Cydicl Other n￿l￿t￿na￿lE G¥deDiryg 9.959 16,599 57 10,5 10.059 924 914 W&ter&sENer•ge Jjio 4,100 3,Q93 3WS £700 408 Tru5ttt Gas andÈl*trl&ty aeJninX Sochl l¢trW￿Q# 867 2,295 2,295 1.797 BO,693 1465 i&,s 76ffj52 Prok5s1ordfEEY and 6,4U 849 6.444 849 9.093 YIJt￿ Exp•ndiwr• IB,373 94,973 85,745 Not 5hL¢Jrnql*zp•ndltiir• (14599) 19.6SJ N•t jm*itM￿ts G￿￿(LO￿e$l tsn 492 39.919 4,173 N•t IncDm&Exppndlthr• 8,910 39.979 35,929 66,Ug 13W7) TtWersh*tsYqert fund$ TraThskrto Cycliol fvnd Tranfvto Ekthtydlnary ￿nd (35.0001 39.979 4401 8,919 66,ZiP 136,66n No¢ Movom•Dt 920 oTrtili&tiott¢ffvnd* Totsj funds bvOY8htfoT*¥d 252.190 332,683 49.416 IlbJ42 7?1.1 Totalfvtsdswriadfprw*rd 372.601 48,817 820,910 754,631 Dunk'*AlmshDuS¢ Charity BzianC* Sheet As at 31 Decèmbèr 202J Pèmi4nen¢ Extraordlnary RepAlr Fund Cydlc•l Ma4ntenanco Fund General Fund Tot Total Fund Note Fréehold Pro￿rty 239.153 (B3,2331 155.920 239,153 (83,23Jl ISS,920 9.153 183W31 I55.￿0 LessSocI￿ HoUSlng Gt3nt Inv•gtment¥ 105,990 371,062 50,778 529,430 476.258 Fi¥ed A%g•t1 261,910 J7Zh62 50,778 6&S,3SQ 631178 Current Amet5 Debtors aTrd wepaymtyits COIF Depo51t CwrentAccouftt & 9,500 27,365 03,9+J 90.861 5,560 Y6,182 03, 145,YQ5 4￿117 67.715 72,41? 141193 Cwmnt Llabllid Credlcors lQ.l?4 1?.840 NetCurTEnt knets 44817 121453 NerAssets 261,910 372,662 48,B17 137,471 820W60 Funds Permanertt EndawmentfvTrd E¥tTrtrdlnary Repalr FuDd CyEliial Fund G￿er11 Fund 261,91Q 252,W) 332,683 40.416 371661 372,662 48,817 137,471 820,860 261,91¢ 372.662 49.817 754.6Jl fvflnthdal 5rAtemenrs Fwe been prep7rd In a£cordan¢e the rBqulrements of FRS1112 and of the 5tstement offtecommended Prncdce, ACCOUnfj￿7Thd Reportns by Charfde Approved by theTrustet5 d Co1115oil SWWJ Hobday ted.. Dunws Almshousè Charity A Charitable Incorporated Organisation Notes to the Financial Statements for the year ended 31 December 2023 I. ACCOUNTING POLICIES Basis of Preparatlon These accounts combine the accounts of all funds which are governed by the ￿m$ of the order dated 15 February 1916. They hive been prepared on the accruals basi5 and include items of Income and expenditure as they are earned or incurred, rather thin as fdsh 15 re￿IVed or paid. The accounts are prepared in accordance with the provisions of Sertion IA "Small Entitie5" of Financial Reporting Standard 102 "The Financial Reporting Sr3ndard ipplicable in the UK and Republic of I￿land, and the Statement of Recommended Practice "Accotjnting and Reporting by Chanties" 2015. They have be¢ii piywied undd- the hi3toric&S conventlon oxcépt for investments which are carried at market wal￿e. The accounts are stated £. Merger Accounting A new Charitsble Incorporated Organisation, Dunk's Am5house Ch3rify vr4s registered on 12 July 2023. A re501ution ￿a5 passed on 3 August 2023 that all the property and a55ets of the Dunk's A1rn5house Charity (Chartsble Registrdtion No 2405631 be transferred to the newly formed Charirable Incorporated Organi5ation, Dunk's Amshouse Charity Icharitable Regirtration No 12039521. This trdn5fer took place on 3 August 2023. The accounts have been prepared as merger account5 and disclose the 2022 figure5 for the Dunk'5 Almshouse Chariry as cornparative figures and. for the year ended 31 December 2023, refiert the results of old Dunk's Almshouse Charity to the date of rransfer and for the Charitable Incorpordted Owdnisation for the remainder of the year. The split for the year is shown on the additiollil notes to the accounts. Fund Accounting The Charl￿$ Permanent Endowment Fund comprisès the origlnal land and buildings together th subsequent additions and certain investment5. The Charity's unrestricted funds consist of funds whlch the ch￿ty may use for its purposes at its discretion. The Charity ha5 set aside certain surn5 in designat￿ funds as follows.. Cyclical Maintenance Fund. Funds Set aside by the Charity to cover repair5 and maintenance of the propertie5 newsary at irregular inorvals. Thts is mainr2ined to meet the next year's annual maintenance. Extraordinary Repalr Fund. Funds set aside by the Charity for future major works, improvement5 and repiacernent expenditure. Page 8 Dunk's Almshouses Charity A Charitable Incorporated Organisation Notes to the Financial Statements for the year Ended 31 December 2023 Fixed Assets and Dopreciation Fixed assets are Yalued at the cost of land and buildings incurred by the Charity. No walue 15 included for rhe original land and buildings bequeathed to the Charity or subsequent gfts prior to the introduction of the charities SORP in 1995. The land and buildSngs are considered to be inalienable and to have an indefinitely long useful life, An annual provision is made for maintenance and repair5 but depreciation is not provided on the grounds that the annual tharge and accumulated fund would not be material. The social hosjsing grant is shown as a deduttion in accordance with the Genernl Determination 2006 for Registsred Social Landlords. Investments lThYestments are included in the accounts at market value. Investment Income Dividends are credited in the accounts when rrfeival and credit 15 taken for Intsres¢ when 1¢ fa115 due. Administration Expenditure Administration ￿PenditUre comprises all costs incurred in running the Charity and are recwised when a kgal and construttive obli8ation is established. Going concern The trustre5 consider that there 15 no matrrial uncertainty relating to going concern and consider thac the Charity Is in a position to meet Its financl31 obligarions a5 they fa11 due. 2. INCOME AND EXPENDITURE 31.12.23 31.12.22 Maintsnance contributions receivable in the year £99,051 £96,052 Arrears due on 31.12.23 There were no service charges or revenue grants received in the year. There were no maintenance contributions losses during the year. Page 9 Dunk'$ Almshouse Charity A Charitable Incorporatsd Organisation Note5 to the Financial Statements for the year end¢d 31 D¢cember 2023 2. INCOME AND EXPENDITURE (continued) Accommodation In Management At 31 DKember 1023 there were eight double and seven single fiats owned and managed by the Chariry, of which 14 were housing iccommodatyoTh un￿s. One single lit has been converted trj provide laundry fatilitie5 and office facilities. Irhcome 15 recorded when due. Employees There was one employee during the year. No trustees recelyed any r ¥iiiuiiei-ation during the year. 3. FIXED ASSETS Freehold Property C05t brought forvrdrd at I january 2023 Add￿On5 in year 31.12.23 31.12.22 239,153 239.153 C05t carried fowdrd at 31 December 2023 £239,153 1239.153 4. INVESTMENTS 31.12.23 31.12.22 Endowment Fund 5340.89 COIF Income Shares 105,990 97.070 £105,990 £97,070 Extraordinary Repair Fund 2,032.19 COIF Income share5 1,340.05 COIF Accurnulation shares 40,329 332,332 36,935 295,748 £372,661 £332,683 31.12.23 31.12.22 General Fund 2,558.73 COIF Income shares 50,778 46,505 Page 10 Dunk's Almshouse Charity Notes to the Financial Statements for the year ended 31 December 2023 S. RELATED PARTY TRANSACTIONS Dunk's EdUca￿On31 Foundation (Charity Number 12043361 is under the control of the same Committee of Trustees. D￿rIng the year Dunk's Educational Foundatyon charged Dunk's Almshouse Chartry £9,959 in rent for 3 llats {2022.. £8,9571- In addition, some charges made to Dunk's Am5house Charity are recharged to Dunk's Educational Foundation. At the year end Dunk's Educational Foundauon owed Dunk'5 Am5house Charity £3,769.4512022.. £4981. Payments totslling £15.473 were made in the year to Mr C Faulkner. These were approved by the Building sU￿0MMittee and Mr Faulkner did not participate in the vote. It is rwrded to be open market Wdlue for yiyi"k performed. Payments totalling £802 were made in the year to Mrs J Faulkner for cle￿Ing seNice5. It is regarded to be open market value for the work performed. 6. TRUSTEE REMUNERATION AND EXPENSES No ¢rustee5 have been Fa.id remuneration or expense5 during the year. Page I I Tqtil Tlltd P￿￿ 12 M5 IWI• In￿1￿ fjn IVYP Iifjm IF,111 rLI I￿ Jyv IV74 flW41 ¢51 41 UM CrfwP￿d 711.H2 12 Dunk'5 ￿M$hoUse Chat4ty Income And ExpoDdithre Atcount For tho Y¢Ar ¢tid¢d 31 Do¢ember 2025 Permanet)t Extraordlnary Endowm•rbt ReP￿r Fund Fun Cy¢ll¢ Mwtttenan TrAn5fer to CyclIc￿ f￿nd TransfÈrro Extrnord1n8ry FurKI 25,000 {25,000) unr￿lIed tytdQosswI on 1nYESEM￿ts 8,920 39,979 4373 53,In 152,9971 RecoD¢ill4tlon of Fundk. R¢seThos brousht forward 152.990 332.6B3 40,416 128.542 754.631 791,298 R¢serv¢$ CWTl*d f4xwArd 372.6G2 48,817 B?O,A60 The resul¢lorthoy¢ar relatrswholty to cOn￿￿1n￿a￿1￿c& Page 13