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|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||||||||||||
|training
oftrustees;||||||||||||
|~
the charity's
organisational||||||||||||
|structure
and any wider||||||||||||
|network
with which the charity||||||||||||
|works;||||||||||||
|~
relationship
with any related||||||||||||
|parties;||||||||||||
|~
trustees'
consideration
of||||||||||||
|major risks and the system||||||||||||
|and procedures
to manage||||||||||||
|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.||
|---|---|---|
||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|(readily available or easily convertible
into cash) to cover day to day||
|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||
||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|
||f35,000would 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 E75,000 is|the|
||current prudent
level for this fund.||
|Details ofany funds materially|||
|in deficit|||
|Further financial
review details|(Optional
information)||
|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||
|~
the charity's
principal
sources offunds (including|are giving a good return.||
|any fundraising);|The Trustees regard the financial
position as satisfactory.||
|~
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.||
|~
investment
policy and|||
|objectives including
any|||
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|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|||||||
|Debtors and prepayments|||||||
|Investment
assets at market value|||||||
|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|||||||
|Net asset value at|31stDecember 2021||517,767||517,767|507,259|
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