Charity Registration No. 245543 THE ANDROS ALMSHOUSE CHARITY ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 GROUP BUSINESS ADVISORS &ACCOUNIANT5 One Bell Lane Lewes East Sussex BN7 Liu
THE ANDROS ALMSHOUSE CHARITY COMPANY INFORMATION Trustees Mr P Ross Mr P Mulcare Mrsj L Hall Charity number 245543 Principal address The Office Grantham Close South Chailey Lewes East Sussex BN8 4AL Independent examiner TC Group One Bell Lane Lewes East Sussex BN7 UU Bankers Shawbrook Bank Limited Lutea House The Drive, Warley Hill Business Park Great Warley Brentwood Essex CM13 3BE CAF Bank 25 Kings Hill Avenue Kings Hill West Malling Kent ME19 4JQ Barclays Bank PIC UK Banking Service Centre PO Box 299 Birmingham BI 3PF Solicitors Third Sector Law 240 Shinfield Road Reading Berkshre RG2 8EX
THE ANDROS ALMSHOUSE CHARITY COMPANY INFORMATION Investment advlsors Quilter Cheviot Ltd One Kingsway London WC2B 6AN M & G Charities PO Box 9038 Chelmsford Essex CM99 2XF
THE ANDROS ALMSHOUSE CHARITY CONTENTS Page Company information Trustees, report Independent examiner's report Statement of financial activities Balance sheet Notes to the financial statements 10-21
THE ANDROS ALMSHOUSE CHARI TRusfEES' REPORT FOR fHE YEAR ENDED 31 MARCH 2024 The trustees present their annual report and financial statements for the year ended 31 March 2024. The financial statements have been prepared in accordance with the accounting policies set out in note I to the financial statements and Comply with the charity's governing document, the Charities Act 2011 and "Accounting and Reporting by Charities- Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021" (effective l January 20191. Objectives and activltles The object of the charity is the relief of poverty. in that it provides homes for over 50,5 in need. The trustees confirm that they have referred to the guidance contained in the Charity Commissions general guidance on public benefit when reviewing the charity's aims and objectives and in planning future activitie5 and setting policy for the year. The charity carries out its objectives by providing accomrnodation required for the needy. The Trustees distribute funds as they see fit to running the charity. The trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the charity should undertake. Achievements and performance A programme of phased increase5 in contributions has been completed to a level. which balances outgoings and enables continuing adherence to the planned maintenance programme, and operation ofAndros Almshouse. Financlal review After charging all costs lexcluding gains and losses on investments} there was a small loss of £22,14612023 surplus £30,641). This deficit was solely due to building works. During the year we had a major programme upgrading bathrooms and we now only have three still to be done. The investment portfolio increased in value by £19,42912023 decrease £19.1011. There wa5 a revaluation carried out by Graves Jenkins dated the 29th of February 2024.The market value of the freehold property was £4,910,000. This shows an increase in value of £400,000. The trustees considered the financial state of the charity to remain good. The trustees have focussed on their staff and with our new clerk and a very strong office team we are well placed for the future. As mentioned above a major priority remains keeping the buildings in good repair. It is the policy of the charity to maintain unrestricted funds, which are the free reserves of the charity at a level which equates to approximately six months unrestricted expenditure. This provides sufficient funds to cover management, administration and support costs and to respond to emergency applications for grants, which may arise from time to time. Unrestricted funds were maintained at this level throughout the year. It Is also necessary to have reserve funds for unforeseeable contingencies. The trust maintain5 a balanced portfolio to spread investment risk and continually reviews results. The trustees have decided to maintain the present Investment strategy and expect over time the current improvement wlll continue.
THE ANDROS ALMSHOUSE CHARITY TRUSTEES, REPORT ICONTINUEDI FOR THE YEAR ENDED 31 MARCH 2024 The trustees have examined the major strategic business and operational risks which the charity faces and confirm that systems have been established to enable regular reports to be produced so that the necessary steps can be taken to lessen these risks. Plans for future periods The aim of the trustees is to continue with the management of the properties and the charity activities with the support of a paid manager, but otherwise with voluntary Wofk of the trustees in order that the residents, contributions can be kept to a minimum in line with proper stewardship. Structure, governance and management The charity is an unincorporated trust constituted under a trust deed dated 25 May 1952, rewritten on 14 March 1994 and updated on 30 October 2002, 13 August 2004 and 3 Septembef 2018. Its object being to provide and maintain almshouses for needy men and women over 50 years of age. The Board, when complete, consists of 7 Trustees plus an Additional Trustee being-. One Nominated Trustee (Chailey Parish Council) Six Co-opted Trustees One Additional Trustee (Lifetime Trustee- Mr P Mulcarel The trustees who Served during the year and up to the date of signature of the financial statements were.. Mr5 J BaiS1ieux Mrsj L Hall Mr P Mulcare Mr S Roberts Co-opted Trustee (Resigned 29 May 20231 Co-opted Trustee Additional Trustee Ilifetime trustee) Co-opted Trustee (Appointed 31 July 2023 and resigned 27 June 20241 Co-opted Trustee Co-opted Trustee Iresigned 30 April 20231 Mr P Ross Mrs V J Rowbotham All trustees, other than the lifetime trustee and the nominated trustee, are appointed by the Board of Trustees and serve for four yeafs after which period. they may put themselves forward for re-appointment. The trustees meet regularly throughout the year and agree the broad strategy and areas of activity including investment, reserves and risk management policies and performance. The Chair of Trustees has overall supervision of the charity's activities. Other trustees are allocated responsibilities commensurate with their individual skills at that time. When the trustees formally discuss new appointments. the following objectives are considered.. The need for specialist knowledge and skills in the key positions to ensure succession. If possible, a reduction in the average age of the trustees. A local background and residence
THE ANDROS ALMSHOUSE CHARITY TRUSTEES. REPORT ICONnNUEDI FOR THE YEAR EIIDED 31 MARCH 2024 The trustees. report was approved by the &oJrd of Trustees. Mr5J LHall Chalr Date-.
THE ANDROS ALMSHOUSE CHARITY INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF THE ANDROS ALMSHOUSE CHARITY I report to the charity trustees on my examination of the financial statements of The Andros Almshouse Charity I'the Trust") for the year ended 31 March 2024. Responsibilities and basis of report As the trustees of the charity you are responsible for the preparation of the financial statements in accordance with the requirements of the Charities Act 2011 (the 2011 Act). I report in respect of rny examination of the Trust's financial statements carried out under section 145 of the 2011 Act. In carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 14515llbl of the 2011 Act. Independent examiner's statement I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe that in any material respect.. accounting records were not kept in respect of the charity as required by section 130 of the 2011 Act; OF the financial statements do not accord with those records,. or the financial statements do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports1 Regulations 2008 other than any requifement that the accounts give a true and fair view which is not a matter considered as part of an independent examination. I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the financial statements to be ached. D W Martin FCA on behalf of TC Group One Bell Lane Lewes East Sussex BN7 IJU Dated..
THE ANDROS ALMSHOUSE CHARITY STATEMENT OF FINANCIAL ACTlVtfiES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 MARCH 2024 Unrestricted Endowment funds funds 2024 2024 Total Unrestrlcted Endowment funds funds 2023 2023 Total 2024 2023 Notes Income from: Donations and legacies Charitable activities Investments Other income loo 212,895 10,704 1.197 loo 212,895 10,704 1,197 211,083 8,551 1,207 211,083 8,551 1,207 Total Income 224,896 224.896 220,841 220,841 Ex enditure on: Raising funds 2,123 2,123 2,278 2.278 Charitsble activities 244,919 244,919 187,922 187,922 Totsl resources expended 247,042 247,042 190.200 190,200 Net gain511I05sesl on investments li 19.289 19,289 121,0411 {21.0411
THE ANDROS ALMSHOUSE CHARIT STATEMENT OF FINANCIAL ACTIVITIES (CONTINUED) INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 MARCH 2024 Net (outgoingllincoming resources before transfers (2,8571 12,8571 9,600 9,600 Gross transfers between funds 13,2001 3.200 13,2001 3.200 Net loutgoingl/incoming resources 16,0571 3.200 12,8571 6,400 3,200 9,600 Other recognised gains and losses Revaluation of tangible fixed assets 400,000 400,(X)O Net movement in funds 393,943 3,200 397,143 6,400 3,200 9,600 Fund balances at i April 2023 4.765,345 197,600 4,962,945 4,758,945 194,400 4,953,345 Fund balances at 31 March 2024 5,159,288 200,800 5,360,088 4,765,345 197,600 4,962,945
THE ANDROS ALMSHOUSE CHARITY BALANCE SHEET ASAT3J MARCH 2024 2024 2023 Not•s Flxed assets Tangible assets Investments 13 4,924,649 329,782 4,510,(K)O 303,273 14 5,254,431 4,813,273 Current ¥ssets Debtors Investments Cash ai bank and in hand 15 16 6,177 89,176 30,054 2.338 88,675 71,210 115,407 162.223 Credltors.. amounts falllng due wtthin one ar 17 19.7501 112,5511 Net current assets 105,657 149,672 Total assets les5 current liabllltles 5,360,088 4,962,945 Net assets excludlng p4nslon Ilablllty 5,360,088 4.962,945 The funds ol the charlty Endowment funds Unrestricted funds 20 200,8C4J 5,159,288 197.6C(J 4,765,345 5,360,088 4.962,945 The financial statements were approved by the trustees on Mrs l L Hall Chair
THE ANDROS ALMSHOUSE CHARITY NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR EAIDED 31 MARCH 2024 Accoiinting policies Charity information The Andros Almshouse Charity is an unincorporated trust constituted under a trust deed dated 25 May 1952, rewritten on 14 March 1994 and updated on 30 October 2002, 13 May 2004 and 3 September 2018. 1.1 Accounting convention The financial statements have been prepared in accordance with the charity's governing document, the Charities Act 2011 and "Accounting and Reporting by Charities.. Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable the UK and Republic of Ireland IFRS 1021 (effective l January 20191" The charity is a Public Benefit Entity as defined by FRS 102. The charity has taken advantage of the provisions in the SORP for charities applying FRS 102 Update Bulletin I not to prepare a Statement of Cash Flows. The financial statements have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a true and fair view. This departure has involved following the Statement of Recommended Practice for charitie5 applying FRS 102 rather than the version of the Statement of Recomrnended Pfactice which is referred to in the Regulations but which has since been withdrawn. The financial statements are prepared in sterlin& which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £. The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value. The principal accounting policies adopted are set out below. 1.2 Charitable funds Unfestficted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives. Restricted funds are subject to specific conditions by donors or grantor5 as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statement5. Endowment funds are subject to specific conditions by donors that the capital must be maintained by the charity. 1.3 Income Income 15 recognised when the charity is lega51y entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received. Cash donations are recognised on receipt. Other donations are recognised once the charity has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant Is recognised at the time of the donation. 10-
THE ANDROS ALMSHOUSE CHARITY NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Accounting polldes (Continued) Legacies are recoEni5ed on receipt or otherwise if the Charity has been notified of an impending distribution, the amount is known, and receipt is expected. If the amount is not known, the legacy is treated as a contingent asset. 1.4 Expenditure Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement, and the amount of the obligation can be measured reliably. Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Dirert costs attribL6table to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the ba515 of time Spent, and depreciation charges are allocated on the portion of the asset's Use. Expenditure is recognised on an accrual basis as a liability is incurred. Expenditure includes any VAT which cannot be fully recovered. and is reported as part of the expenditure to which it relates. Charitable expenditure comprises those costs incurred by the charity in the delivery of its activities and services for its beneficiaries. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them. Governance costs include those costs associated with meeting the constitutional and statutory fequirernent5 of the charity and include the accountancy fees and costs linked to the strategic management of the charity. 1.5 Tangible fixed assets Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses. Depreciation is recognised so as to write off the c05t or valuation of assets less their residual values over their useful lives on the following bases: Freehold land and building5 Fixtures and fittings not depreciated 5% straight line The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in net income/lexpenditurel for the year. 1.6 Flxed asset Investments Fixed asset investments are initially measured at transaction price excluding transaction costs. and are subsequently measured at fair value at each reporting date. Changes in fair value are recognised in net incomellexpenditurel for the year. Transaction costs are expensed as incurred. 11
THE ANDROS AUVISHOU5E CHARITY NOTES TO THE FINANCIAL STATEMENTS {CONTINUEDI FOR THE YEAR ENDED 31 MARCH 2024 Accounting policies (Continued) 1.7 Impairment of fixed assets At each reporting end date, the charity reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recover3ble amount of the asset is estimated in order to determine the extent of the impairment loss lif any). 1.8 Cash and cash equivalents Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less. and bank overdfafts. Bank overdra*ts are shown within borrowings in current liabilitie5. 1.9 Financial instrument5 The charity has elected to apply the provisions of Section 11 'Basic Financial Instruments, and Section 12 'Other Financial Instruments Issue5, of FRS 102 to all of its financial instruments. Financial instruments are recognised in the charity'5 balance Sheet when the charity becomes party to the contractual provisions of the instiumont. Financial assets and liabilities are offset. with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously. Bosicfinoncial osset5 Basic financial assets. which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently Girried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised. BosicAinoncial liobilities Basic financial liabilities. including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised. Debt instruments are subsequently carried at amorti5ed cost, using the effective interest rate method. Trade creditors are obligations to pay for goods or services that have been acqLtired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective inteiest method. Derecoqnition offinoncial liabilitie5 Financial liabilities are derecognised when the charity's contractual obligations expire or are discharged or cancelled. 12
THE ANDROS ALMSHOUSE CHARITY NOTES TO THE FINANCIAL STATEMENTS {CONTINUEDI FOR THE YEAR ENDED 31 MARCH 2024 Accounting policles {Contlnuedl 1.10 Retlrement benents Payments to defined contribution retirement benefit schemes are Charged as an expense as they fall due. Donations and legacies Unrestrlcted funds Total 2024 2023 Donations and 8ifts loo Income from charitable activities Unrestricted funds 2024 Unrestrlcted funds 2023 Charitable Income Sale ofgoods 212,895 211.083 Income from investments Unrestrlcted Unrestricted funds funds 2024 2023 Income from listed investments Interest receivable 4,406 6,298 3.496 5,055 10,704 8,551 13
THE ANDROS ALMSHOUSE CHARITY NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Expenditure on raising funds Unrestricted Unrestrieted funds funds 2024 2023 Investment management 2,123 2,278 Expenditure on charitable activities Charitable Charitable Expenditure Expenditure 2024 2023 Direct costs Depreciation and impairment 772 Share of support and governance costs (see note 7) Support Governance 238,991 5,156 181,742 6,180 244,919 187,922 Analysis by fund Unrestricted funds 244,919 187,922 14-
THE ANDROS ALMSHOUSE CHARITY NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Support costs Support Governance costs COSts 2024 Support costs Governance costs 2023 Staff costs Rates and council tax 55,967 296 24,847 10.464 55,967 296 39,517 39,517 24.847 10,464 30.436 2,597 30.436 2,597 Electricity Repairs and improvements Water rates Professional fees Insurance Telephone Printing and stationery Sundries 119,642 9,582 2,135 3,410 3,149 119,642 9,582 2,135 3,410 3,149 624 84,169 6,154 5,607 3,955 2,191 84,169 6,154 5,607 3,955 2,191 773 624 773 7,666 1,833 7,666 1,833 5,531 1.585 5,531 1.585 Event costs Independent examination fees Bookkeeping fees Trustees expenses 3.060 1,276 196 3.060 1,276 196 2.946 1,108 1.353 2,946 1,108 1.353 238,991 5,156 244,147 181,742 6,180 187.922 Analysed between Charitable activitie5 238,991 5.156 244.147 181,742 6,180 187,922 Net movement in funds 2024 2023 The net movement in funds 15 Stated after chargingl{creditingl'. Fees payable for the independent examination of the charity's financial Statements Depreciation of owned tangible fixed a55ets 3,060 772 2,946 Trustees None of the trustees lor any persons connected with them) received any remuneration during the year. but a trustee was reimbursed a total of £32 for travelling expenses {2023 £1,150), £nil for computer setup expenses12023 - £1,165) and £nil for entertaining expenses12023 £2641. 15-
THE ANDROS ALMSHOUSE CHARITY NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 10 Employees The average monthly number of employees (other than trustees who are on a part-time basis and who are not remuneratedl during the year was.. 2024 2023 Number Number Admin staff Employment C05tS 2024 2023 Wages and salaries Other pension costs 55.760 207 39,193 324 55.967 39,517 There were no employees whose annual remuneration was more than £60,000. Remuneration of key management personnel The remuneration of key management personnel was as follows.. 2024 2023 Aggregate compensation 41,769 12.940 11 Gains and losses on investments Unrestricted Unrestricted funds funds 2024 2023 Gains/llossesl arising on.. Revaluation of investments Sale of investments 19.429 11401 119,1011 11,9401 19,289 121,0411 12 Taxation The charity is exempt from taxation on its activities because all its income is applied for charitable purposes. 16
THE ANDROS ALMSHOUSE CHARITY NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 13 Tangible fixed assets Freehold land IwihJing5 Fixtures and flttln8s Totsi Cost At l April 2023 Additions Revaluation 4.510.000 4,510,000 15.421 400,000 IS.421 400,000 At 31 March 2024 4,910,000 15,421 4,925.421 Depreciation and Impairment Depreciation charged in the year 772 772 At 31 March 2024 772 772 Carrying amount At 31 March 2024 4,910,000 14,649 4.924,649 At 31 March 2023 4,510,000 4.510,000 The carrying value of land included in land and buildings comprises- 2024 2023 Freehold 4.910,000 4,510,000 A revaluation which was based upon the freehold open market value was carried out by Graves Jenkins, Chartered surveyors. on 29 February 2024. The historical cost of the property is £1,432,642. 17
THE ANDROS ALMSHOUSE CHARITY NOTES TO THE FINANCIAL STATEMENTS {CONTINUED} FOR THE YEAR ENDED 31 MARCH 2024 14 Fixed asset investments Listed investments Cost or valuation At l April 2023 Additions Valuation changes Disposals 303,273 16,358 19,289 19,1381 At 31 March 2024 329,782 Carrying amount At 31 March 2024 329,782 At 31 March 2023 303,273 2024 2023 Investments at fair value comprise.. Fixed interest Equities Alternative investments M&G Charibond Charities Fixed Interest 42.929 118,890 20,248 147,715 32.633 103,800 20,909 145.931 329,782 303.273 15 1)ebtor5 2024 2023 Amounts falling due within one year.. Trade debtors Prepayments and accrued income 3,599 2,578 2,338 6,177 2,338 18
THE ANDROS ALMSHOUSE CHARITY NOTES TO THE FINANCIAL STATEMENTS (CONTINUEDI FOR THE YEAR ENDED 31 MARCH 2024 16 Current asset Investments 2024 2023 Broker deposit account 89,176 88,675 17 Creditors." amounts falltng due within one year 2024 2023 Notes Deferred income Trade creditors Other creditors Accruals 18 1.203 1,025 575 3,830 2,195 1,194 5,332 6.947 9,750 12.551 18 Deferred income 2024 2023 Other deferred income 1,203 3,830 19 Retirement benefit sthemes 2024 2023 Defined contrlbution schemes Charge to profit or loss in respect of defined contribution schemes 207 324 The charlty operates a defined Contribution pension scheme for all qualifying employees. The assets of the scheme are held separately from those of the charity in an independently administered fund. 19-
THE ANDROS AUWSHOUSE CHARITY NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 20 Endowmenl funds Endowment funds represent assets which must be held permanently by the charity. Income arising on the endowment funds can be used in accordance with the objects of the charity and is included as unrestricted income. Any capital gains or losses arising on the assets form part of the fund. At l April 2023 Transfers At 31 March 2024 Permanent endowments 197,600 3.200 200,800 Previou5 year: At l April 2022 Transfers At 31 March 2023 Permanent endowments 3,200 3,200 194,400 Restricted permanent endowfflenl 194,400 194,400 3,200 197,600 21 Unrestricted fund5 The unrestricted funds of the charity comprise the unexpended balances of donations and grants which are not subject to specific conditions by donors and grantors as to how they may be used. These include designated funds which have been set aside out of unrestricted funds by the trustees for specific purposes. At l April 2023 Incoming resources Resources expended Transfers Gains and At 31 March losses 2024 General funds Revaluation reserve 4,765,345 224,896 1247.0421 13,200) 19,289 4,759,288 400,000 400,000 Previous year: At l April 2022 Incoming resources Resources expended Transfer5 Gains and At 31 Mar¢h losses 2023 General funds 4,758,945 220.841 1190,2001 13,2001 121,0411 4,765,345 -20-
THE ANDROS ALMSHOUSE CHARITY NOTESTO THE FINANCIAL STATEMENTS ICONTINUEDI FOR THE YEAR ENDED 31 MARCH 2024 22 Analysls of net assets between funds Unrestricted Endowment funds fund5 2024 2024 Total Unrestricted Endowment funds funds 2023 2023 Total 2024 2023 Fund balances at 31 March 2024 are represented by= Tangible assets Investments Current assets/(liabilitiesl 4.723,849 329,782 200,800 4,924,649 329,782 4.312.400 303,273 197.600 4.510.000 303,273 105,657 105,657 149,672 149,672 S,159,288 200.800 5.360,088 4,765,345 197,600 4,962,945 23 Related party transactions Payments of £nil 12023- £4,680) for repairs and maintenance costs were made to Mr Russell Owen, Mrs Vivien Rowbotham spouse, on a normal commercial ba51S. Payments of £1,300 {2023: £nill for website design costs were made to Jamie Hall, son of trustee Jackie Hall. on a normal commercial basis. Payments of £20,813 {2023'. £nil} for phone and IT systems were made to Cloud Voice and Data, where trustee Jackie Hall worked for Cloud Voice and Data during this period. £15,241 were paid for the installation of the new solar panels. 21