THF ROGER EDWARDtri AL.MSHOUSES CHARITY F[%￿NCIAL STATEME.NT FOR THE YEAR EliDED 31 DECEMBER 2023 'rHE ROGER EDM:ARIKS ALMSHOLTSES CHARITY FINANCIAL STATLMENT FOR THE YEAR EliDED 31 DECEMBER 2023 CONTENTS Legal and Administrative Inforniation TnAgtees Report Indcpcndent Examiner's R¢port Statement of Financial Actis'ities Balance Sheet Notes io the Accounts 34 8-10 TKE ROGER EDWARDS ALMSHOL"SES CHARrrY LEGAL AND ADMtIYlSTRATIVE INFORMATION Status The scheme was s¢t up bj the Charits. Commissioners in 1862 and l)as been amended several titnes, the last being on 3 April 1998. Il is on¢ of many AImshouses Cbarities that belong to The National A&sociation of Almshouses. Trustees ement Committee Mrs Kathryn Clarke (chairp￿son} Mrs Lisa Morgan (Treayurer) Mr John P&8k Mrs Rosa yo.xall Mrs Ei leanor HaM,kiDS Mrs Isobel Brown Mr Ken Hart Mr8 Priscilla CIreenland Rev Sall}, Ingle-Gillis (¢x-officio) Secre and Almshouses M Mr Richard Baker Princi al Address Red House Llangei'iew Usk NP15 INE Tel., 01291673367 Cli. there wag no loss of income from maintenance contributions during th¢ )'¢ar. Future Plans The Trustees ¢ontinue to look for opp)rtunities to utilise surplus fl￿dS to improve the facilities offered to its residents, specificall) in ternis of reducing hgating costs. Given the buildings are Grade 2 listed, id¢ntifying suitable improN'ements that ar¢ consistent listed building requirem¢nts has been N'ery" difficulL In Mav ?0?4. the Charity. was grant¢d listed building conseni to replac¢ ¢xisting windows With double glazed units. Reserves Polic Ac¢umulated surplus income is retained to me¢t future maintcnance and improvement costs of existing accommodation. Investment Polic Funds. which are surplus to short tenn requirements, are placed on deposit preparatory to meeting commitments &8 they fau due. Risk Review The manag¢m¢nt comn]ittee h&s conducted its owi res'iew of th¢ risks to which the Charity is exposed and systems have been established to mitigate those risks. Risks are minimis¢d by th¢ implementation of procedures for authorisation of all transactions and projects. Thes¢ procedures are ￿riOdICallY review'ed by the management committee. Res onsibilities of the Trust¢es Th¢ trustees are required to prepare financial statements for financial year, which give a true and fair view of the state olaffairs of the charit! &8 at the balance sheet dat¢ and of its incoming resources and appli¢ation of resourc¢s, including income and expenditure, for th¢ financial year, In preparing thos¢ financial statements, the trustees should follow best practice and: s¢l¢ct suitabl¢ accounting policies and then applN' them consistently. make judgements and estimates that are re&sonable and Pn￿ent. and prepare foi financial statements on the going concern basis unless it is inappropriate to assume the Charity w'ill continue on that basis. The trustees are responsible for maintaining proper accounting records. which di￿lOse with reasonable accuracy at anTr.' lime the financial position of the Ckwity and enable them to ensure that the fmancial statments complv with the CharitN' Commission. The trustees are also responsible for safeguarding th¢ &8sets of the Charity 8nd hence for taking responsible steps for the prev¢ntion and detection of fraud and other irregularities. Memberg of the Mana ement Cornmit*e The management committee consists of the tn￿teeS of the Cbarity, as laid out on page I, and Richard Baker: the Secr¢tarv and Almshouses Manager. All trustees work voluntsrily and the nwwgement committee meets once every two months or more r¢gularly &8 required. Inde endent Examiner An independent examiner was ap￿inted due to the incorne for the year exceeding the threshold of £25,000, This report has been prepared in accordance with the general Directions given by the Charity Commission. Approved by the twstees and signed on their behalf by: Date.. IYDEPENDENT EXAMIYER'S REPORT TO THE TRUSTEES OF ROGER EDW ARDS ALMSHOIISES CHARITY I report on the accounts of Roger Edm￿d$ Almshouses Charity for the Ye￿ ended 31 December 2023. Respective responsibilities of tnigtees and examiner The charity's trnstees are responsible for the pr¢paralion of the accounts in accordance with th¢ Charities Act 2011 (the 'Act'). The charity's trustees consider ihat an audit is not required for this year under section 144 of the Act and that an independent examination is needed. It is my resy)nsibility to: • examine the accounts under section 145 of the Chariti¢s ACL • to follow the applicable Directions given by the Charity Commission (under seetion 145{5)(b) of the ACL and • to stale whether particular matters hav¢ come to mj attention Basis of independent examiner's report My ¢xamination i¥as carried out in accordance Mith the general Dir¢¢tions given by the Charity Con)mission. An examination includes a re.vi¢M" of the accounting reci)rds kept by the charity and a comparison of the accounts presented with thos¢ records. It also includes consideration of an>, unusual items or disclosures in the accounts and seeking ¢xplanations from iou as trustees concerning anv such matters. The procedures undertaken do not pmvide ajl the eTridenc¢ that would be requir￿ in an audit and: consequently, no opinion is giTren as to whether the a¢¢ounts present a 'twe and fair, and the report is limited to those matters set out in the statement below. Independent eLqminer's statemcnt In connection with my examination, no matters hav¢ Come to my attention which give me cause to believe that, in any material respect: the accounting records were not kept in accordance with section 130 of the Charities Act. or the accounts did not accord with the accounting r¢cords; or the a￿ouThts did not compli. the applicable requireme.nts concerning the foTm and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than anv requirement that the accounls give a 'true and fair, Triew which is not a matter considered &s part of an independent examination. I have no concerns and have come across no other matters in connection with the examination to which att¢ntion should be dra￿Tr in this re￿rt in order to enable a proper understanding of the accounts to be reach¢d. Signed: Date.. 2?IioJio Name: Lorrlane Chapman THE ROGER EDWARDS ALM.SHOLSES CHARITY STATEMENT OF FINANCIAL AcfIvTNES FOR THE YEAR ENDED 31 DECEMBER 2023 Unrestricted Funds Restricted Funds Total Funds Totsl Funds 2023 2022 Note ncomin Resources Maintenance ¢ontril)utions Investment itt¢ome Income from fundraising OtheT income 23,955 1.153 23.955 1,153 23,972 456 Total Incomin R¢sourees 2),108 Resources Ex nded Dire¢t charithble ex￿nditur£ Fllndraising Cobts Management & administration 4352 3,497 7,849 7,902 4,258 4,258 4,297 Totsl Reyour ended 8,610 3,497 12,107 12,199 Net Incoming Regouwes for the year 16.498 (3,497) 13.001 12,229 Unrealised profitr'ooss) on revAluation of investment prop6rti¢s TTan$fer to Extraordinary Repair Fund (3.684) Transfer to Cyclical.Mainlenanc¢ Fund (6.024) 6.024 Transfer5 to Accumulat¢d Fund 6.79) 13,001 Accum l ¢¢d Funds Balance5 bTought fonvard 386,330 60,547 446,877 434,648 Net transfers for the currentyear 6,790 6211 13,001 12229 Balances carried forward 393 1?0 66,758 459 878 446 877 THE ROGER EDWARDS .4LMSHOLSES CHARITY BALANCE SHEET AS AT 31 DKCEMBER 2023 31 De£unbcr 2023 31 Dec¢mber 2022 Note ixed Assets 318.448 319,418 Cutr¢utAssets Bank uoullt Building soclety account DebtOTS and prq)a)qnents 11.096 16,366 113.575 580 130521 647 146.480 Current Liabilities Other creditors 5,050 C.urrcnt Ass¢ts l¢ss Cumt Liabilities 141.430 4£9.878 446,877 Cred?tors Due After l Year OttL¢f Creditors > l yr 459.878 Finattced By.. Accumulated Funds.. Unrestricted funds Restricted funds 393,120 66.758 459 878 386,330 446.877 THE ROGER EDWARDS ALMSHOUSES CHARITY NOTKS TO THE FINANCIAL STA TE.MENTS FOR THE YEAR ENDED 31 DECEMBER 2023 Stat6menl of Accounting Policies a) Basis of Accowiting Th¢ accow)ts have been prep￿ed iti ac￿￿¢8 with applicable a¢¢ounting standards atjd the requirements of the Clwities Act 2011. b) Tattglble Fixed Assets Tangible fix￿ 8&4ets are stst¢d at cost or Yaluation. Investment properties were reval)Jed &s at 31 tkcemTr¢r ?013 by Parrys with Chris Brain. Chartered Suryeyors, on an open mwk¢t value for existing use Iwis *hich Teflects the low income generated by th¢ properti¢s due to their use for the charity's wtwses. The pmpertie¥ are revalued ￿lOdICall￿, and consequentl) no provision for depreciation is made and any unrealiscd gain or 10&4 on revaluation is prO￿lded in the statement of financial activi¢ie8. Depre¢iation on fixture8 and fittings is provided for on a str￿ght line b&sis at a rat¢ of 5ty/o per annum. Depre¢iation previousl>. been provided on equipment on the sttaight line m¢thod oyer the expected usefijl life of the assel the pro*ision being Th￿/•p￿a￿lIvt￿. Dirrft Charitable ¢xpenditure rekntes to direct easts on let properties &s follows.. Unrnstricted Funds 2023 Re&ri¢ted Funds Totsl Funds 2022 Insurance Repalts & DAaintenauce Ele¢triciti' Il'ater ratss Deweci2tion 1,017 1,196 762 408 969 1,017 4,693 762 408 969 1,022 5,158 338 415 969 3,497 3.497 THE ROGER EDWARDS ALMSHOUSES CHARITY NOTES TO THE FIYANCIAL STA TE.%IENTS FOR THE YEAR ENDED 31 DECEMBER 2023 Management and adJnlliis¢ration exrtnses are madc up of the following: Unrestrieted Fund5 2￿23 Restricted Funds 2￿23 Totsl Funds Total ]7unds 2023 2022 Legal and professionaI ckng¢s Hononria Other experL Bad debt 780 3.108 370 780 3,108 370 235 2,824 1238 58 Other expenses itt 2022 includes £900 in gifts m*Je to re5idthts to support the]ll with increased cost of livttig expenses. Fixed &￿et$. 2022 Inv6Stmellt ¢rties Ba]ance brought fonvard AdditlODS Profib'(t.¢)ss) on r¢vaIuation Value ￿rIed fonyard 309.(M)O 309,0(M) 309,( 309.000 Fixtures and Fittin Balance brought fonyard Additions A¢curnulated depreciatfton Value Carried forward 19,380 19,380 9,448 10.417 OtTAce ui ¢nt Cost Disposal Accumlllated depreciation Disposal Balance carried fon¥ard 500 (5(M)) 499 499) 499 319418 THE ROGER EDWARDS ALMSHOUSES CHARITY NOTES TO THE FINANCIAL STATE.MESTS FOR THE YEAR ENDED 31 DECEMBER 2023 Unrestri¢t¢d Funds Genernl Totsl Fund as at l January ?023 Movern¢Dt for the )'ear Futtd w at 31 December 2023 )86.330 386,330 393.120 393.120 Restricted Funds Extraordinary Repair Fund Cyclical Maintenanc¢ Fund Totsl Fwjds ￿ at l Janum. 2￿23 Movement for the Year Funds a3 at 31 Dec¢mbv 2(123 41.Y29 18,618 2.527 60,547 66,75S