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|Names and addresses ofadvisers (Optional
information)|Names and addresses ofadvisers (Optional
information)|Names and addresses ofadvisers (Optional
information)||||||||
|---|---|---|---|---|---|---|---|---|---|
|T
eofadviser
Name|Address|||||||||
|NIA||||||||||
|Name ofchief executive or names ofsenior staff members||||(Optional information)||||||
|N/A||||||||||
|~
e|0 ~||||~|||||
|Description ofthe charity's trusts||||||||||
|Type of governing
document|Constitution|||||||||
|How the charity
is constituted|Trust|||||||||
|Trustee selection methods|Appointed
by Parish|Council (PC) and Parochial||||||Church Council (PCC)||
|Additional
governance
issues (Optional
information)||||||||||
|You may choose to include
additional
information,
where
relevant,
about:|In October 2020 some trustees attended
the Charity Commission's
webinar
on changing
the governing
document.
As a result they decided to
add an addendum
to the constitution
regarding
the trustees'
role and aims
for the operation
ofthe almshouses,
the culture,
relationship
with the|||||||||
|~
policies and procedures|residents
and values.|||||||||
|adopted for the induction
and
training
oftrustees;|The Charity's
risk assessment
was
2020.||||reviewed||and updated
in||October|
|~
the charity's
organisational||||||||||
|structure
and any wider
network
with which the charity|The charity's
policies
necessary.|were reviewed|||at year|end and updated|||where|
|works;||||||||||
|~
relationship
with any related||||||||||
|parties;||||||||||
|~
trustees'
consideration
of||||||||||
|major risks and the system||||||||||
|and procedures
to manage||||||||||
|them.||||||||||
||Provision
and maintenance|||ofAlmshouses||forthose in need|||in the local|
||area and for the general||benefit of||the poor|ofthe parish of Old Windsor.||||
|Summary ofthe objects ofthe||||||||||
|charity set out in its||||||||||
|governing
document||||||||||
|Summary
ofthe main
achievements
ofthe charity
during the year|Summary
ofthe main
achievements
ofthe charity
during the year|Summary
ofthe main
achievements
ofthe charity
during the year|Three properties
were vacated. Two residents
moved away and
died. This meant some minor refurbishment
and the substantial
refurbishment
ofone property.|one||
|---|---|---|---|---|---|
||||Residents created a garden
on the communal
land and plan to cultivate|||
||||plants
in the existing greenhouse.|||
||||The charity recognises
the need to have sufficient funds
in reserve,|||
|Briefstatement ofthe
charity's
policy on reserves|||(readily available
or easily convertible
into cash) to cover day to day
expenditure,
and the maintenance
ofolder properties.
Cash reserves||will|
||||also be needed
in the event that there is a reduction
in monthly|||
||||maintenance
contribution
(MMC) income following the departure|of||
||||residents
and pending
new residents
being appointed.|||
||||In order to mitigate this risk, the trustees
have calculated
that reserves||of|
||||835,000would be needed to allow the charity to operate for at least 6|||
||||months
without
income from MMC.|||
||||The
charity's
constitution
requires
the
provision
of an
Extraordinary|||
||||Repair
Fund for the extraordinary
repair,
improvement
or rebuilding||of|
||||the almshouses.
The trustees
consider that a reserve
of F75,000 is||the|
||||current
prudent
level for this fund.|||
|Oetails ofany funds||materially||||
|in deficit||||||
|Further financial
review details|||(Optional
information)|||
|You may choose to include
additional
information,
where
relevant
about:
~
the charity's
principal
sources offunds (including
any fundraising);|||At the end of2020 the accounts show a small surplus of receipts
expenditure.
The charity benefitted
from the investment
ofsome reserve funds
MBG fund that gave a good return.
The rebuild value ofthe properties
was recalculated,
resulting
in
significant
reduction
in insurance
premium
and a useful refund.|over
in an
a||
|~
how expenditure|has||The Trustees regard the financial
position as satisfactory.|||
|supported
the key||objectives||||
|ofthe charity;||||||
|~
investment
policy||and||||
|objectives
including||any||||
|ethical investment||policy||||
|adopted.||||||
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|Year ended|31stDece|mbe|r 2020||||||
|---|---|---|---|---|---|---|---|---|
||||||General|Restricted|||
||||||Fund|Fund|Total|2019|
|Receipts|||||f|f|f|f|
|Residents'|contributions||||53,188||53,188|53,258|
|Investment|income||||3,494||3,494|301|
|Investment|interest||||15||15|688|
|Miscellaneous
income||(refunds If compensation)|||5,015||5,015|334|
||||||61,712||61,712|54,581|
|Assets and|investment|sales|||||||
|Transfer from COIF Deposit Fund|||||74,310||74,310|10,000|
|||Totai receipts|||136,022||136,022|64,581|
|Payments|||||||||
|Management
and running|||costs of|the Almshouses:|||||
|Staff costs|||||11,255||11,255|7,910|
|Office and|administration||costs||13,575||13,575|10,769|
|Council tax and utilities|||||4,068||4,068|3,594|
|General maintenance|||||40,245||40,245|37,775|
|Extraordinary
maintenance|||||1,200||1,200|6,976|
|Accountancy
and Examiner's fees|||||576||576|576|
||||||70,919||70,919|67,600|
|Asset and|investment|purchases:|||||||
|Investment|purchases|S.dividends||re-invested|48,964||48,964|688|
||||Total Payments||119,883||119,883|68,288|
|Net (payments)/receipts|||||16,139||16,139|(3,708)|
|Cash funds|at 31stDecember 2019||||15,571||15,571|19,279|
|Cash funds|at 31stDecember 2020||||31,710||31,710|15,571|
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|STATEMENT OF ASSETSAND LIABILITIES|||||
|---|---|---|---|---|
|At 31stDecember 2020|||||
||General|Restricted|Total|2019|
||Fund|Fund|E|f|
|Cashfunds|f|6|||
|Balances at bankers|31,710||31,710|15,572|
|Total cash funds|31,710||31,710|15,572|
|Other monetary
assets|||||
|Debtors and prepayments||||4,320|
|Investment
assets at market value|||||
|COIF Charities Deposit Funds|37,559||37,559|111,766|
|M gr G Charity
Multi Asset Fund|62,973||62,973|7,784|
||100,532||100,532|119,551|
|Assets retained forthe charity's own use|||||
|Almshouse
property (note 3)|375,017||375,017|375,017|
|Total assets|507,259||507,259|514,460|
|Liabilities|||||
|Creditors and accruals||||879|
|Net asset value at31st December 2020|507,259||507,259|509,261|
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