Deloitte’s Almshouses
ANNUAL REPORT
For the year ended 31 December 2020
| Trustees | The Rev’d Michael Bolley |
|---|---|
| (Vicar, Holy Trinity Southall, Chair of Trustees) | |
| Jacqui Barrow | |
| (Churchwarden, Holy Trinity Southall) | |
| Cassandra Thomas | |
| (Churchwarden, Holy Trinity Southall) | |
| Registered Charity No. | 244662 |
| Principal Address | Holy Trinity Vicarage |
| Park View Road | |
| Southall | |
| Middlesex UB1 3HJ | |
| Governing Document | Declaration of Trust dated 30 October 1897 and Charity |
| Commission Schemes dated 6 January 1967 and 2 June 1970 | |
| Objects of the Charity | Almshouses for aged persons, male or female, married or |
| single, unable in the opinion of the trustees to maintain | |
| themselves by their own exertions, preference being given to | |
| those not being less than sixty years of age and also to those | |
| who have been residents in the ecclesiastical parish of Holy | |
| Trinity, Southall in the London Borough of Ealing and | |
| Norwood in the parish of Hayes for twelve months. | |
| Independent Examiner | Mr John Thomas FCCA |
| Bankers | Barclays Bank plc |
| Southall Branch | |
| Hounslow and Southall Business Centre | |
| 210 High Street | |
| Hounslow | |
| Middlesex TW3 1DL |
Review of the Year
The trustees have met on various occasions during the course of the financial year.
In addition to the ongoing repairs and maintenance of the almshouse dwellings in the course of the year, some a number of major works were undertaken at a total cost of £12,530. These included ingoing works on 173 North Road following the death of a long-term resident.
Investments
Assets continued to be held in M&G Multi Asset Shares.
The quarterly dividend income derived from the Income Shares is paid directly into the General Fund. During 2020 the dividend income amounted to £65.76.
Distributions derived from the Accumulation Shares are not paid out as income, but are instead added as a booster to the Share capital value. This enables the fund to function well as the charity’s extraordinary repair fund.
In order to fund major works this year £10,000 worth of shares in Extraordinary Repair Fund were sold.
Reserves Policy
Monies are held in reserve in the extraordinary repair fund for major repairs to the properties. These are retained in the charity’s M&G Multi Asset Accumulation Share holding. The market value of this holding at the end of 2020 was £167,035.34.
Public Benefit
The contents of this Annual Report comprise a summary of the main activities undertaken in order to carry out the objects of the charity for the public benefit. The trustees have complied with their duty to have due regard to Charity Commission guidance on public benefit.
On behalf of the Trustees
The Revd Michael Bolley
Date: 15 October 2021
DELOITTE'S ALMSHOUSES - Established 1897 - Registered Charity Number 244662
FINANCIAL STATEMENT FOR THE YEAR ENDED 31 DECEMBER 2020
| Receipts and Payments Account | 2020 | 2020 | 2020 | 2019 | 2019 | |||
|---|---|---|---|---|---|---|---|---|
| £ | £ | £ | £ | |||||
| Receipts | ||||||||
| Residents' Contributions | 21,015.71 | 21,875.70 | ||||||
| NAACIF Dividend | 65.76 | 65.76 | ||||||
| Bank Interest | 3.22 | 7.06 | ||||||
| Insurance Claim | 0.00 | 0.00 | ||||||
| Sale of Shares from Extraordinary Repair Fund | 10,000.00 | 0.00 | ||||||
| TOTAL RECEIPTS | 31,084.69 | 21,948.52 | ||||||
| Payments | ||||||||
| Almshouse Association Subscription | 179.00 | 170.00 | ||||||
| Insurance | 910.40 | 968.59 | ||||||
| Utilities | 3,260.84 | 2,267.30 | ||||||
| Repairs and Maintenance | 11,639.12 | 7,417.01 | ||||||
| Major Works | 12,530.00 | 14,330.00 | ||||||
| Operating Costs | 250.00 | 250.00 | ||||||
| TOTAL PAYMENTS | 28,769.36 | 25,402.90 | ||||||
| Excess of Receipts over Payments | 2,315.33 | -3,454.38 | ||||||
| Balance Sheet | ||||||||
| Barclays Community Account at 1 January 2020 | 5,870.95 | 10,052.39 | ||||||
| Unpresented cheques at 1 January 2020 | 0.00 | 0.00 | ||||||
| Adjusted Community Account Balance at 1 Jan 2020 | 5,870.95 | 10,052.39 | ||||||
| Barclays Business Premium Account at | 1 Jan 2020 | 3,959.72 | 3,232.66 | |||||
| Total Accounts at | 1 January 2020 | 9,830.67 | 13,285.05 | |||||
| Barclays Community Account at 31 December 2020 | 7,902.66 | 5,870.95 | ||||||
| Unpresented cheques at 31 Dec 2020 (100715,100716) | 439.60 | 0.00 | ||||||
| Adjusted Community Account Balance at 31 Dec 2020 | 7,463.06 | 5,870.95 | ||||||
| Barclays Business Premium Account at | 31 Dec 2020 | 4,682.94 | 3,959.72 | |||||
| Total Accounts at 31 | December 2020 | 12,146.00 | 9,830.67 | |||||
| Reconcilation | Community | Business | ||||||
| Account | Account | |||||||
| (Adjusted) Balance as per statement at | 1 January 2020 | 5,870.95 | 3,959.72 | |||||
| (Adjusted) Balance as per statement at | 31 Dec 2020 | 7,463.06 | 4,682.94 | |||||
| Actual movement of funds at bank | 1,592.11 | 723.22 | ||||||
| Expected movement of funds at bank | 1,592.11 | 723.22 | ||||||
| Discrepancy | 0.00 | 0.00 | ||||||
| STATEMENT OF ASSETS AND LIABILITIES AT 31 DECEMBER 2020 | ||||||||
| General | Maintenance | Extraordinary | Endowment | Totals | Totals | |||
| Fund | Fund | Repair Fund | Fund | 2020 | 2019 | |||
| £ | £ | £ | £ | £ | £ | |||
| Monetary Assets | ||||||||
| Barclays Community a/c | 7,463.06 | 7,463.06 | 5,870.95 | |||||
| Barclays Business Premium a/c | 4,682.94 | 4,682.94 | 3,959.72 | |||||
| TOTAL MONETARY ASSETS | 7,463.06 | 4,682.94 | 12,146.00 | 9,830.67 | ||||
| Investment Assets | ||||||||
| 1879 M&G Multi Asset Shares | 1,571.22 | 1,571.22 | 1,698.05 | |||||
| 1805.481 M&G Multi Asset Shares | 167,035.34 | 167,035.34 | 183,961.17 | |||||
| TOTAL INVESTMENT ASSETS | 167,035.34 | 1,571.22 | 168,606.56 | 185,659.22 | ||||
| ENDOWMENT: Freehold Property Assets | ||||||||
| Bungalows: 173-183 North Rd, Southall | 355,680.00 | 355,680.00 | 355,680.00 | |||||
| TOTAL PROPERTY ASSETS | 355,680.00 | 355,680.00 | 355,680.00 | |||||
| TOTAL ASSETS | 7,463.06 | 4,682.94 | 167,035.34 | 357,251.22 | 536,432.56 | 551,169.89 |
CHARITY COMMISSION FOR ENGLAND AND WALES Independent examiner's report on the accounts Section A Independent Examiner's Report Report to the trusteesl members of Deloitte's Almshouses On accounts for the year ended 31 December 2020 Charity no lif any) 244662 Set out on pages I report to the trustees on my examination of the accounts of the above charity I'lhe Trust") for the year ended 3111212020. Responsibilities and As the charity trustees of the Trust, you are responsible for the preparation basis of report of the accounts in accordance with the requirements of the Charities Act 2011 1.the Act.). I report in respect of my examination of the Trust's accounts carried out under section 145 of the 2011 Act and in carrying out my examination, I have followed the applicable Directions given by the Charity Commission under section 145151{bl of the Act. I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination which gives me cause to believe that in, any material respect.. accounting records were not kept in accordance with section 130 of the Act or the accounts do not accord with the accounting records Independent examiner's statement I have no concerns and have come across no other matters in connection with the examinalion to which altention should be drawn in order to enable proper understanding of the accounts to be reached. Signed: Date: 14.10.2021 Name: MR JOHN THOMAS Relevant professional qualification{sl or body (if any): B.Sc (Econl FCCA. Address: 5 Floor, Hyde Park Hayes 3 11 Millington Road Hayes UB3 4AZ IER October 2018
Section B Disclosure Only complete if the examiner needs to highlight malters of concern (see CC32, Independent examination of charity accounts.. directions and guidance for examiners). Give here brief details of any items that the examiner wishes to disclose. IER October 2018