| Names and addresses ofadvisers | Names and addresses ofadvisers | (Optional | (Optional | (Optional | information) | ||||||
|---|---|---|---|---|---|---|---|---|---|---|---|
| T eofadviser Name |
Address | ||||||||||
| NIA | |||||||||||
| Name ofchief executive or names | ofsenior | staff members (Optional |
information) | ||||||||
| N/A | |||||||||||
| W ~ 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: |
The Charity's 2020. |
risk assessment | was | reviewed | and | updated | in October | ||||
| ~ policies and procedures |
The charity's | policies were reviewed | and updated | where | necessary. | ||||||
| adopted for the induction and |
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| training oftrustees; |
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| ~ the charity's organisational |
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| structure and any wider |
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| network with which the charity |
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| works; | |||||||||||
| ~ relationship with any related |
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| parties; | |||||||||||
| ~ trustees' consideration of |
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| major risks and the system | |||||||||||
| and procedures to manage |
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| them. |
| Summary ofthe main achievements ofthe charity during the year |
Three properties were vacated. Two residents moved away and one died. This meant some minor refurbishment and the substantial refurbishment ofone property. |
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| Residents created a garden on the communal land and plan to cultivate |
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| plants in the existing greenhouse. |
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| The charity recognises the need to have sufficient funds in reserve, |
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| Briefstatement ofthe |
(readily available or easily convertible into cash) to cover day to day |
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| charity's policy on reserves |
expenditure, and the maintenance ofolder properties. Cash reserves |
will |
| also be needed in the event that there is a reduction in monthly |
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| maintenance contribution (MMC) income following the departure of |
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| residents and pending new residents being appointed. |
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| In order to mitigate this risk, the trustees have calculated that reserves |
of | |
| f35,000would be needed to allow the charity to operate for at least 6 | ||
| months without income from MMC. |
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| The charity's constitution requires the provision of an Extraordinary |
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| Repair Fund for the extraordinary repair, improvement or rebuilding |
of | |
| the almshouses. The trustees consider that a reserve of E75,000 is |
the | |
| current prudent level for this fund. |
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| Details ofany funds materially | ||
| in deficit | ||
| Further financial review details |
(Optional information) |
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| You may choose to include additional information, where relevant about: |
At the end of2021 the accounts are in good order. Considerable expenditure meant drawing on reserves early in the year. The reserves have been partly refunded and we expect to continue rebuilding reserves. Some reserve funds have been invested in BlackRock investments that |
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| ~ the charity's principal sources offunds (including |
are giving a good return. | |
| any fundraising); | The Trustees regard the financial position as satisfactory. |
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| ~ how expenditure has supported the key objectives ofthe charity; |
The Trustees were disappointed that the charity's bankers, HSBC, have imposed charges on charity accounts. |
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| ~ investment policy and |
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| objectives including any |
| Year ended | 31stDece | mbe | r 2021 | ||||
|---|---|---|---|---|---|---|---|
| General | Restricted | ||||||
| Fund | Fund | Total | 2020 | ||||
| Receipts | f | f | f | ||||
| Residents' | contributions | 56,714 | 56,714 | 53,188 | |||
| Investment | income | 3,263 | 3,263 | 3,494 | |||
| Investment | interest | 15 | |||||
| Miscellaneous income |
(Incl refunds) | 3,917 | 3,917 | 5,015 | |||
| 63,894 | 63,894 | 61,712 | |||||
| Assets and | investment | sales | |||||
| Transfer from COIF Deposit Fund | 37,555 | 37,555 | 74,310 | ||||
| Total receipts | 101,449 | 101,449 | 136,022 | ||||
| Payments | |||||||
| Management and running |
costs ofthe Almshouses: | ||||||
| Staff costs | 11,509 | 11,509 | 11,255 | ||||
| Office and | administration | costs | 7,440 | 7,440 | 13,575 | ||
| Council tax and utilities | 3,697 | 3,697 | 4,068 | ||||
| General maintenance | 35,426 | 35,426 | 40,245 | ||||
| Extraordinary maintenance |
2,090 | 2,090 | 1,200 | ||||
| Accountancy and Examiner's fees |
266 | 266 | 576 | ||||
| 60,429 | 60,429 | 70,919 | |||||
| Asset and | investment | purchases: | |||||
| Investment | purchases | 37,000 | 37,000 | 48,964 | |||
| Total Porments | 97,429 | 97,429 | 119,883 | ||||
| Net (payments)/receipts | 4,020 | 4,020 | 16,139 | ||||
| Cash funds | at 31stDecember 2020 | 31,710 | 31,710 | 15,571 | |||
| Cash funds | at 31stDecember 2021 | 35,730 | 35,730 | 31,710 |
| At 31stDecember 2021 | ||||||
|---|---|---|---|---|---|---|
| General | Restricted | Total | 2020 | |||
| Fund | Fund | 6 | 6 | |||
| Cash funds | E | 6 | ||||
| Balances at bankers | 35,730 | 35,730 | 31,710 | |||
| Total | cash funds | 35,730 | 35,730 | 31,710 | ||
| Other monetary assets |
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| Debtors and prepayments | ||||||
| Investment assets at market value |
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| COIF Charities Deposit Funds | 5 | 5 | 37,559 | |||
| Blackrock Charities funds | 38,371 | 38,371 | ||||
| M5G Charity Multi Asset |
Fund | 68,644 | 68,644 | 62,973 | ||
| 107,020 | 107,020 | 100,532 | ||||
| Assets retained for the charity's | own use | |||||
| Almshouse property (note |
3) | 375,017 | 375,017 | 375,017 | ||
| Totol | assets | 517,767 | 517,767 | 507,259 | ||
| Liabilities | ||||||
| Creditors and accruals |
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| Net asset value at | 31stDecember 2021 | 517,767 | 517,767 | 507,259 |