Charity number: 246857
Emma Ball and Rolason Almshouses
Trustee's report and financial statements
For the year ended 31 March 2024
Emma Ball and Rolason Almshouses
Contents
| Page | |
|---|---|
| Reference and administrative details of the Charity, its Trustees and advisers | 1 |
| Trustee's report | 2 - 4 |
| Independent examiner's report | 5 |
| Statement of financial activities | 6 |
| Balance sheet | 7 |
| Notes to the financial statements | 8 - 15 |
18
Emma Ball and Rolason Almshouses
Reference and administrative details of the Charity, its Trustees and advisers For the year ended 31 March 2024
| Trustee | BroadeningChoices for Older People |
|---|---|
| Charity registered number 246857 Principal office Unit 3, Waterside Business Park 1649 Pershore Road Stirchley Birmingham B30 3DR Accountants Dains Audit Limited 2 Chamberlain Square Paradise Birmingham B3 3AX Bankers Royal Bank of Scotland 57 Calthorpe Road Edgbaston Birmingham B15 1TT Barclays Bank UK Plc 6th floor 1 Snowhill Queensway Birmingham B4 6GN |
Page 1
Emma Ball and Rolason Almshouses
Trustee's report
For the year ended 31 March 2024
The Trustee presents their annual report together with the financial statements of the Emma Ball and Rolason Almshouses for the year 1 April 2023 to 31 March 2024.
Structure, governance and management
a. Constitution
The Charity is governed by a Scheme dated 12 October 1976, as amended by a Scheme dated 12 June 2012.
Emma Ball and Rolason Almshouses is a registered charity, number 246857.
b. Organisational structure and decision-making policies
The management of the Charity is the responsibility of the Corporate Trustee, Broadening Choices for Older People ('BCOP'), and the Charity relies on BCOP's systems to ensure it complies with all required legislation and best practice. The Board of BCOP meets on a regular basis.
Objectives and activities
a. Principal activity and objectives
The Charity’s principal activity is the running of six almhouses in Birmingham. Its objectives are to provide a friendly, homely environment for its almshouse tenants with respect for their privacy. The administration of the Charity was transferred to the Broadening Choices for Older People group, as sole Corporate Trustee, on 12 June 2012. Broadening Choices for Older People owns and manages accommodation for older people including supported and independent housing, and care homes.
In setting objectives and planning for activities, the Trustee has given due consideration to general guidance published by the Charity Commission relating to public benefit, including the guidance 'Public benefit: running a charity (PB2)'.
Achievements and performance
a. Review of activities
The Charity continues to operate six units that are owned (2023 - six).
Financial review
a. Financial review and results
The surplus for the year ended 31 March 2024 amounted to £15,270 (2023 - £29,709).
Total funds as at 31 March 2024 amounted to £778,979 (2023 - £763,704).
The Trustee believes the financial position at the year end is adequate to meet the Charity's objectives for the forthcoming year.
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Emma Ball and Rolason Almshouses
Trustee's report (continued) For the year ended 31 March 2024
b. Reserves policy
At 31 March 2024, the Charity had unrestricted funds of £667,569 (2023 - £651,082) and restricted funds of £111,410 (2023 - £112,627).
Reserves are being maintained to fund the charitable activity of running the almshouses.
c. Financial risk management objectives and policies
The Trustee has considered the major risks to which the Charity is exposed and has established systems and internal controls to mitigate them.
d. Going concern
After making appropriate enquiries, the Trustee has a reasonable expectation that the Charity has adequate resources to continue in operational existence for the foreseeable future. For this reason, they continue to adopt the going concern basis in preparing the financial statements. Further details regarding the adoption of the going concern basis can be found in the accounting policies.
e. Future developments
The charity, through its corporate trustee Broadening Choices for Older People, will continue to maintain the properties and invest in any improvements that are required so as to be able to continue to provide a friendly, homely environment for its almshouse tenants. This will be undertaken using the Emma Ball and Rolason Almshouses funds available.
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Emma Ball and Rolason Almshouses
Trustee's report (continued)
For the year ended 31 March 2024
Statement of Trustee's responsibilities
The Trustee is responsible for preparing the Trustee's report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
The law applicable to charities in England & Wales requires the Trustee to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the Charity and of its incoming resources and application of resources, including its income and expenditure, for that period. In preparing these financial statements, the Trustee is required to:
-
select suitable accounting policies and then apply them consistently;
-
observe the methods and principles of the Charities SORP (FRS 102);
-
make judgements and accounting estimates that are reasonable and prudent;
-
state whether applicable UK Accounting Standards (FRS 102) have been followed, subject to any material departures disclosed and explained in the financial statements;
-
prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Charity will continue in business.
The Trustee is responsible for keeping adequate accounting records that are sufficient to show and explain the Charity's transactions and disclose with reasonable accuracy at any time the financial position of the Charity and enable them to ensure that the financial statements comply with the Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the Trust deed. They are also responsible for safeguarding the assets of the Charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Approved by order of the members of the board of Trustee and signed on their behalf by:
_________
D Sizer
Chair - on behalf of Broadening Choices for Older People, Corporate Trustee
Date: 18/12/2024
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Emma Ball and Rolason Almshouses
Independent examiner's report
For the year ended 31 March 2024
Independent examiner's report to the Trustee of Emma Ball and Rolason Almshouses ('the Charity')
I report to the charity Trustee on my examination of the financial statements of the Charity for the year ended 31 March 2024 which are set out on pages 7 to 15.
Responsibilities and basis of report
As the Trustee 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 my examination of the Charity's financial statements 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 145(5)(b) 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; or
-
the financial statements do not accord with those records; or
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the financial statements do not comply with the applicable requirements concerning the form and content of financial statements set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the financial statements 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 reached.
This report is made solely to the Charity's Trustee, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. My work has been undertaken so that I might state to the Charity's Trustee those matters I am required to state to them in an Independent examiner's report and for no other purpose. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than the Charity and the Charity's Trustee as a body, for my work or for this report.
Signed: Dated: 18/12/24 Andrew Morris FCA
Dains Audit Limited Birmingham
Page 5
Emma Ball and Rolason Almshouses
Statement of financial activities
For the year ended 31 March 2024
| Note Income from: Charitable activities 3 Investments 4 Total income Expenditure on: Charitable activities 5 Net income Transfers between funds 11 Net movement in funds Reconciliation of funds: Total funds brought forward 11 Net movement in funds Total funds carried forward 11 |
Unrestricted funds 2024 £ 25,471 4,826 30,297 15,027 15,270 1,217 16,487 651,082 16,487 667,569 |
Restricted funds 2024 £ - - - - - (1,217) (1,217) 112,627 (1,217) 111,410 |
Total funds 2024 £ 25,471 4,826 30,297 15,027 15,270 - 15,270 763,709 15,270 778,979 |
Total funds 2023 £ 23,838 17,161 40,999 |
|---|---|---|---|---|
| 11,290 | ||||
| 29,709 - 29,709 |
||||
| 734,000 29,709 763,709 |
The notes on pages 8 to 15 form part of these financial statements.
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Emma Ball and Rolason Almshouses Registered number: 246857
Balance sheet As at 31 March 2024
| Note Fixed assets Tangible assets 8 Current assets Debtors 9 Cash at bank and in hand Creditors: amounts falling due within one year 10 Net current assets Total net assets Charity funds Restricted funds 11 Unrestricted funds 11 Total funds |
611,858 3,306 615,164 (2,509) |
2024 £ 166,324 612,655 778,979 111,410 667,569 778,979 |
594,352 3,403 597,755 (1,133) |
2023 £ 167,087 596,622 |
|---|---|---|---|---|
| 763,709 | ||||
| 112,627 651,082 |
||||
| 763,709 |
The financial statements were approved and authorised for issue by the Trustee and signed on their behalf by:
_________
D Sizer
Chair - on behalf of Broadening Choices for Older People, Corporate Trustee
Date: 18/12/2024
The notes on pages 8 to 15 form part of these financial statements.
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Emma Ball and Rolason Almshouses
Notes to the financial statements
For the year ended 31 March 2024
1. General information
Emma Ball and Rolason Almshouses is an unincorporated charity registered with the Charity Commission for England and Wales. The address of the Charity's registered office is 7-8 Imperial Court, 12 Sovereign Road, Kings Norton, Birmingham, B30 3FH.
2. Accounting policies
2.1 Basis of preparation of financial statements
The financial statements have been prepared in accordance with the Charities SORP (FRS 102) - Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their financial statements in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Charities Act 2011.
The financial statements have been prepared to give a 'true and fair' view and 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 Charities SORP (FRS 102) published in October 2019.
Emma Ball and Rolason Almshouses meets the definition of a public benefit entity under FRS 102.
Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy.
2.2 Going concern
The Trustee has considered the going concern concept and any associated material uncertainties, the basis of any significant judgements and the matters to consider when confirming the preparation of the financial statements on a going concern basis and the Trustee is comfortable that there are no adjustments required. The Trustee expects the Charity to continue in operation for at least 12 months from the date of signing the financial statements.
2.3 Income
All income is recognised once the Charity has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably.
Incoming resources from charitable activities relate to housing benefit and rents received directly from tenants in respect of the almshouse tenancies.
Investment income is accounted for on an accruals basis.
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Emma Ball and Rolason Almshouses
Notes to the financial statements For the year ended 31 March 2024
2. Accounting policies (continued)
2.4 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 on charitable activities is incurred on directly undertaking the activities which further the Charity's objectives, as well as any associated support costs. Governance costs comprise all costs involving the public accountability of the Charity and its compliance with regulation and good practice. These costs include costs related to independent examination, management and legal fees.
All expenditure is inclusive of irrecoverable VAT.
2.5 Taxation
The Charity is considered to pass the tests set out in Paragraph 1 Schedule 6 of the Finance Act 2010 and therefore it meets the definition of a charitable company for UK corporation tax purposes. Accordingly, the Charity is exempt from taxation in respect of income or capital gains received within categories covered by Chapter 3 Part 11 of the Corporation Tax Act 2010 or Section 256 of the Taxation of Chargeable Gains Act 1992, to the extent that such income or gains are applied exclusively to charitable purposes.
2.6 Tangible fixed assets and depreciation
The Charity identifies and accounts separately for the major components which comprise a housing property’s assets. The major components are then depreciated over their individual useful economic lives.
Depreciation is charged so as to allocate the cost of tangible fixed assets less their residual value over their estimated useful lives, using the straight line method.
The estimated useful lives are as follows:
| Structure | - | 100 | years |
|---|---|---|---|
| Kitchen | - | 15 | years |
| Bathroom | - | 15 | years |
| Roof | - | 100 | years |
| Windows | - | 30 | years |
At each reporting date, the Charity assesses whether there is any indication of impairment. If such indication exists, the recoverable amount of the asset is determined to be the higher of its fair value less costs to sell and its value in use. An impairment loss is recognised where the carrying amount exceeds the recoverable amount.
2.7 Debtors
Debtors are recognised at the settlement amount. Prepayments are valued at the amount prepaid.
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Emma Ball and Rolason Almshouses
Notes to the financial statements For the year ended 31 March 2024
2. Accounting policies (continued)
2.8 Cash at bank and in hand
Cash at bank and in hand includes cash and short-term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.
2.9 Liabilities
Liabilities are recognised when there is an obligation at the Balance sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably.
Liabilities are recognised at the amount that the Charity anticipates it will pay to settle the debt or the amount it has received as advanced payments for the goods or services it must provide.
2.10 Financial instruments
The Charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value.
2.11 Fund accounting
Unrestricted funds are funds which are available for use at the discretion of the Trustee in furtherance of the general objectives of the Charity and which have not been designated for other purposes.
Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the Charity for particular purposes. Restricted funds relate to housing grants received and are being unwound across the period the associated assets are being depreciated.
3. Income from charitable activities
| Unrestricted | Total | Total | |
|---|---|---|---|
| funds | funds | funds | |
| 2024 | 2024 | 2023 | |
| £ | £ | £ | |
| Rents received | 25,471 | 25,471 | 23,838 |
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Emma Ball and Rolason Almshouses
Notes to the financial statements
For the year ended 31 March 2024
4. Investment income
| Unrestricted | Total | Total | |
|---|---|---|---|
| funds | funds | funds | |
| 2024 | 2024 | 2023 | |
| £ | £ | £ | |
| Interest received from the parent Charity | 4,826 | 4,826 | 17,161 |
5. Expenditure on charitable activities
| Operating costs Governance costs |
Total funds 2024 £ 8,717 6,310 15,027 |
Total funds 2023 £ 5,346 5,944 11,290 |
|---|---|---|
Governance costs consist of the Broadening Choices for Older People management charge together with legal fees.
6. Employees
The Charity has no employees.
7. Trustee's remuneration and expenses
During the year, no Trustee received any remuneration or other benefits (2023 - £Nil), other than as set out in note 13.
During the year ended 31 March 2024, no Trustee expenses have been incurred (2023 - £Nil).
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Emma Ball and Rolason Almshouses
Notes to the financial statements
For the year ended 31 March 2024
8. Tangible fixed assets
| Freehold property - | Freehold property - | |
|---|---|---|
| housing land and | ||
| buildings | ||
| £ | ||
| Cost or valuation | ||
| At 1 April 2023 | 183,280 | |
| At 31 March 2024 | 183,280 | |
| Depreciation | ||
| At 1 April 2023 | 16,193 | |
| Charge for the year | 763 | |
| At 31 March 2024 | 16,956 | |
| Net book value | ||
| At 31 March 2024 | 166,324 | |
| At 31 March 2023 | 167,087 |
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Emma Ball and Rolason Almshouses
Notes to the financial statements
For the year ended 31 March 2024
9. Debtors due within one year
| Rent arrears Amounts owed by Corporate Trustee Prepayments and accrued income Creditors: Amounts falling due within one year Accruals and deferred income |
2024 £ 255 611,324 279 611,858 2024 £ 2,509 |
2023 £ 753 592,642 957 |
|---|---|---|
| 594,352 | ||
| 2023 £ 1,133 |
10. Creditors: Amounts falling due within one year
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Emma Ball and Rolason Almshouses
Notes to the financial statements
For the year ended 31 March 2024
11. Statement of funds
Statement of funds - current year
| Unrestricted funds Revenue reserves (unrestricted funds) Restricted funds Revenue reserves (restricted funds) Total of funds Statement of funds - prior year Unrestricted funds Revenue reserves (unrestricted funds) Restricted funds Revenue reserves (restricted funds) Total of funds |
Balance at 1 April 2023 £ 651,082 112,627 763,709 Balance at 1 April 2022 £ 620,154 113,846 734,000 |
Income £ 30,297 - 30,297 Income £ 40,999 - 40,999 |
Expenditure £ (15,027) - (15,027) Expenditure £ (11,290) - (11,290) |
Transfers in/(out) £ Balance at 31 March 2024 £ 1,217 667,569 (1,217) 111,410 - 778,979 Transfers in/(out) £ Balance at 31 March 2023 £ 1,219 651,082 (1,219) 112,627 - 763,709 |
Balance at 31 March 2024 £ 667,569 |
|---|---|---|---|---|---|
| 111,410 | |||||
| 778,979 | |||||
| 112,627 | |||||
| 763,709 |
Transfers between funds relate to the release of the amortisation of the social housing grant used to fund the charity's property.
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Emma Ball and Rolason Almshouses
Notes to the financial statements
For the year ended 31 March 2024
12. Analysis of net assets between funds
Analysis of net assets between funds - current period
| Tangible fixed assets Current assets Creditors due within one year Total |
Unrestricted funds 2024 £ 54,914 615,164 (2,509) 667,569 |
Restricted funds 2024 £ 111,410 - - 111,410 |
Total funds 2024 £ 166,324 615,164 (2,509) 778,979 |
|---|---|---|---|
Analysis of net assets between funds - prior period
| Tangible fixed assets Current assets Creditors due within one year Total |
Unrestricted funds 2023 £ 54,460 597,755 (1,133) 651,082 |
Restricted funds 2023 £ 112,627 - - 112,627 |
Total funds 2023 £ 167,087 597,755 (1,133) 763,709 |
|---|---|---|---|
13. Corporate Trustee and control
Broadening Choices for Older People, a Registered Provider of Social Housing, has ultimate control of the Charity as Corporate Trustee.
The Charity is administered at cost by Broadening Choices for Older People, to save the duplication of staffing and other resources. The management fee charged by Broadening Choices for Older People for the year totalled £5,912 (2023 - £5,944).
Broadening Choices for Older People pools surplus funds with its subsidiaries to easily manage the Group's investment portfolio. Interest is charged on the loans at the Group's deposit rate.
During the year, the Charity received £4,826 (2023 - £17,161) on deposits held with Broadening Choices for Older People. At the balance sheet date, £611,324 (2023 - £592,642) was due to the Charity from Broadening Choices for Older People.
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