ALMSHOUSE CHARITY OF SIR WILLIAM POWELL FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023 R8g*ed Charlty Nurn.. 247C66 RlStered Prnbjar Number. A1137
Cont•nts L•aal and Admlnistrativ8 Det Trustees, Annual R8port Indop8nd8nl Examinor's ReF*Jt ststamonl of Finanaal Actfvi 10 11 ststgmenl of Financ481 12 Not¥¥ to FIn011 Swonwts 13-20
ALMSHOUSE CHARrrY OF SIR WLUAM POWELL LEGAL AND ADMINISTRATIVE DEfAILS FOR THE YEAR ENDED 31 MARCH 2023 haInm. Rev.Ponry SeabrcM)k Dewty ChalMl. Nast8r4mlth JP Inl P4121221 Fkm Twsur8r.' Philp H$ other Trust60s'. Sfva StrMwJns Irewgn•J 2W91221 C¥c4in8 Needham Irw1 222) fAr shar Hdder Clk Rosenb8rg Ir•slW 2310W) Judth Gr81wn ra I¢Jan Chrtstina TlvThs 18AW221 Pat4 Hatt Catherin8 cl Thmas Iwwinted 191122> Robert Ros• lappolntsd 191101221 Clk Lucy Rh0on (apnts 221091221 PaLd Al8x&nd8r18PkKJint•d 23ffj 181041rJ} R•v.Pts K•lOo InI•d 02102r23) Clèrk lo the Trwtegs: Rsglstw¢d off4c¢.' 313421 Fdh8m Peè R¢)gd FLharn SW6 6Th 8#nk•rn'. N&tw• Bank 45 FhoM Brokny LLYth SW8 1AG Sdldtorn: 11 Hap•Kol Ro&1 LI)nd SW6 4QP Indpond¢nt Ex•mlnw. ond Struthgrs c £xpr8ss l Gaorge L•KJh Slr••t an(*osi Inve8trnonl adVC. Wavwlon Invoslmont M•nag8m8rt 16 Bw8bma8s Slrest Sl J•w'$ SWIY &4H Regsterj Charity Number. L2 247066 RwJgt•r•Y PmvhJ8r NuMr A1137
ALMSHOUSE CHARrrY OF SIR WILUAM POVLL TRUSTEES. ANNUAL REPORT FOR THE YEAR ENDED 31 MARCH 2023 The Trustee5 preswtth rewt oThJ •ox4nts y••r •thJ 31 2023. Constittrtlon. obJ•¢ls and polkl•B The Charity 15 C¢811bJl8d ty Tnsst D. The AlrnshJu8e Chty of Str Wllarn PLFJd w85 fourd for okJ8f rn8n ovar 60 of the Parish of Fharn who Vre poor and of'g&yJ caracW. Th13 Sche was amended on Crtob8r 2008 to alow TrLkSt•8s to eopt from pers(S in need o¥r SS yews of ag8 r•d8nt wilhin tho London Borough of Hwnmersmilh $1 Fthm or In spxla eaatt •wov•d ty Iha tru8to0 Th& Trusl pYowd¢8 a1 man•) 12 ftats 81 Churt G8t• Fuham And 1$ as$istfjd in this t88k by The Lygon wtho Ortak0 admlrithcn Thw30rnont and Maintena fvnd¢)ns for the Th8 Govomiw Dctwnenl oftho fvlm8hou60 Charty is ts Iwo' or Tnmt Deed. the last grn•ThJod Yon ofwhith was Ihg Ch•rili•s Ccffjmissic•)•r in Cktob•r X(Q. Actl¥ltlM •nd •chthm•nl• The dMshc4j offj man8g•J try tro twmBola Manaman1•gW¢rnnl d9kn 22 March 2013 Clwk p4ptyir¥J h8rtime exduwely to mBnaging the dwrtty's 81mBhouses. The Lygon Managnt féè charg8d lor the year was £16,309 {2022'. £16.1>. The Trust8 gr8 mogl grateful Lygon'• manty•m•nl iryul and 8UPPrt In 2022123 the Charlty hKrty8gad W88kty MaIntonan Charge8 ty 3% to tsXPd Infi8don 8tyJ StAi8 pansion h)ern. WMC rise wag18g8 Ihan Ihe 4.1% lemMeIe in¢xease by th8 Almshouse Association. Sorvlco charg0$ irt1oawJ by £2 to £14 pw w••k durirvJ th• yèar. 8ivJg•t•d costs w•r• containod where pts$$1 to fix•d pric• •n•nJy c(ffilrt •xwTrJ in 20rJ. SI4C chargas w•rn incr•os•d agaln In Jtty 2023 to £18 por week f(rrfd • lurth•r ¢c4ts •bJ hfflation. Other routlno matt8fS w•r• as lolos'. A fum rf8k assessm& on vAter hyde wa8 a more cunprehenslve ontr8et with Water M8n8g•m8nt. Cydiral redecorathon was canlod Lmrt L13 Ilats wrfh stslr4¥dl carpet kn crn)munal 8re8. Insuranc• mbuilding vduats(Ni of G w•$ r¢su'rd in #n incre880 in tho insuranc• premlurn Rouuna repalrtArrfks 6eryKlng of gaB bollprs wè Thg fir& alarms firè equipt and •rrffj•w IwdhlirKJ are lestod rtyLAaFty •xh r by contrnctcrt in all flats and cornmun81 areas. A flrg safvty swsy WAS ISSU kn AwJust 2018. A•m upgrndo Wal ccrtntyeted in May 2019. Th• threww cyclKa ER de(*7 8wvey wa¥ c1¢0 wt kn al fjats InJuly 20rJ and rtt.
ALMSHOUSE CHARITY OF SIR LuA POWELL TRUSTEES. ANNUAL REPORT FOR THE YEAR ENDED 31 MARCH 2023 Aetl¥hkn •nd •¢hlgv•mgnts (Mnllnwdl Th& Charity ovms the fre8fv)k10l Hurfingtsm Mansths subj'ect lo k)rva knes on 23 fflats an(J mMercial propety. The Charity ccft)tiThJes to receive gr rent in r85PèCt vt Ihis property. Trre were no lease 9xten&rX 8ohJ durirg the year. Trustees met wih Iho ManagiNJ Agant for prwety during the year to re¥1 the slatvs. Reeovery of tstaN11n9 SeThI 8nd hx8es due to breaches ol 8 ase are being pur8ued one leasehcth. The Trust C)eed authorfses Ihe Trustees to Invest cash for Ihe knm•Jiat8 wnrklrg pu0$98 of th8 Ch1 aThJ Wavarton Mwoam•nt 18 aprrtrfn to manag8 the porttdio. The TnBtees have a Iwnited appeb'te for risk and have inslnxbj Ihe investment manB98r th8t Ihe inve5tm8nl mand8t& should b ¢8ubCWS. with thtr kntrtomi Obl¥9t0 rAJlFWfrn thg Ccrnm8r Price Inflatson by 2.5% per8nnum. To achi6ve this the rtIcl10 is invested in ihe Waverton MU.8$•t InecM Futhy with ineomo relnvested. Cash 18 held In the p01) avallat40 to mggt 1Skdy quinquonnl$l Survey works expenditurg for•sn wthin the next yè•r. ¢knnl8atlon and admlnl•trath• InlomOTr Th8 Charity is ¢xgaThs8d und8r dord d tho TN8t•ts wth th& day-to4ay mInIStrI)N. M09•mOnt nd maintsn8rK8 d81oB8kna lo the Clewk cl tho TThte88. Katte W16 empbyed by The LygDn m$t$e9. Th8 Ttap31nts property agwrtAdaThl & Lernamto Man Its frethk1 InvaStM prop8rtyl8t on lèaM8 administrotiw inlcrfm ffi pow ftym6 w ol roptyL Fln•Thclal r•¥l•w Income frcm chantsble 8clMtios. princApaty th8pJe3 lo re8wJents. amunled to £83,18412022'. £73,496). A on04n0nth¥dlo8saI{rteffE62oIor a vacvllatf8luth8hMI wa• 1nnd(2022". £5,7051. Ino)rn•from Inv¢$lrn¢nts w•$ £29,67812022.. £29,305I ExponYWr• ¢hawltg waB £69.1 12022.. £93,$001 rethced due ts nofvrtyJtlr repalrthDfk8 COBts InIrTed In the preC year. N8texpeThJhure forthe yearwa8 £17,55512022'. nat wKom8 £35.8841, thè "ng du& to thè v8luation 1088 w0y1s)n £54.n712022'. oaln £29,649) on the Inve8trnenl due to mthet CtuaC. Cash at bank ot yeof end incr8os•d to £80.787 12022.. £62.9791 with ¢88h held 81 WertOn Inve3tmenl m8n8gerE154.37512022' £132.2401. Cash Is hold In fvgorvo for tIk11rj maIntone0 In the Ilght of vdatlle stock Ma• and oulnquennial and stone rnstornlitin works b81ry F4anned. Th& W¥vgrtw pJrtt410 cg)n1knugd to perform bettgr Ihan gThJ b8lBnced tndex benchmarts durfng Iho year to 31# Manh 2023. There Th) fvnd irnnsacti(#)s InstnJcknJ by tho charfty durlng the ytrar. The Chanty Is tyJdg8l&J lo achi• a £13.IM SUlF4u8 of InLYry ¢xwdth In 202Y24 8fter alltrwing Increasad •nwgy costs on a r8n8wed fix•d pie8d eonlracL Rlk• Th• Tftotw hgv• ffjsFmibty fty •wriro th81 IhB appropriale sy3terns of controb, flnanck81 arml otherwBe. The $ystgnB Offinancl controls at Ihe Ch8nty a Oesigned to pThiOe reasonoble, Ixrt notabsolute. assurarKe agalnst materiaj MIsstatnI cff loss. Try Includ• an Annual budgel, approvèd by the Trustees, regular re¥fftw of &1u81 rnsutts and vari8nc88 from b&t. and debgatlon of authority and BegregaThon ol dutl8s as far as possibl8. The Trust has FinarKaa StandlNJ Ordor$ and ¢ontrd$ •nd • Flsk m8p both TeWed annualy by TnLqtees. 8ty led cm 8 December 2022. Thls risk map covets dl affjas ol risk rnan8gament, Viz. rnSKJtints, pIDrtY. salety and finandal &¥Thmae. The Charjty has no ernph)yee8. The Chanty rema¢n8 cash geneth.ve bofore excepl.onal wjalrs or expendKura And tta8
ALMSHOUSE CHARrrY OF SIR VaLUAM POWELL TRUSTEES. ANNUAL REPORT FOR THE YEAR ENDED 31 IAARCH 2023 Tht Ch1$ de'onat•d rthrNft r•s•N•# ar• hdd toen5ur# rls Sustainatilty. A pknnad maintèn•neo serve Is set aside io fund extrthinary repairs. atse pn"nc4paty out of quinquennk4 8uryey8. Th8 rn9st recent suth survey iwk dunng the 2021 ygBr. Annu surK4Jses are amUlat•d In thè Incgmg and Exp8ThllbJre Accr and the RevabJal() Rasorva r8fiacls thè galns and losses on revaluat of investments aThJ inveslment Fff0F. The SOL¥d ts1"ng uvant k8 8 rnstrictsd reserve. The 18v81s Lrf thasè r88aN88 aw shown m Notè 13 to tho 8tsx)unt& Thg tot4 rssoTh9 fund8 held at 31" March 2023 were £1.519.629. of whth £255,230 re8th(ed reserve. £691.104 & a d•slgn•tgd but rtrjl commltted r88em pwty aF¥4knJ to 2021 qulnquannLal wjrvoy works tM#lgetwl to 8mount to £231,CJO over thè ntrxt Ilnand81 years. Tofftr 1h eash C hath1 and redisatde stock mark81 Inveslments Tr[te ¢ons¥Jer the ch's reserves arg ap&Yowwte and re&Jily avala&. Publlc b•n•fft T Tru8iees ha due regard to put4i¥h¢d by the Ch8rity Cornrni88ion on wtrAic banofrt ond confim Ih•y havo comyli8d With tho in 17 oftho ch"•$ 2011. The o)nsth the Charfty dglvgrB pull ben8fi1 Ilwh the wovhi(fft crf Sla1 houalng In th• Almshou fiats. When fiats become vac4nl res#Jents are frMJThJ ty pubhcadTrnrtl8•m•nl ty nominalon$ Ircm Hamrrwsmilh and Fharn CourKI or, ts¢ling th. oth•r rolerral agar. 10. Valu• for mon•y Tha TnJst86s arn nnthjI of the nwd to obtaln valu8 ts fThXOy kn al tr8n8xkn8 8nto Into sy behoif of lh8 Ch8rlty. When rnr works e undertaken a comWitfve ttndef Js e8rr18d out never practical. The Charity revithved its anarvJgmg1rt8 dwirvJ y•r. regulaior h88 188Uod v4uo for nKry m•trk4 to ¢nsur• F•rfom¥n¢• kn m•owr•J oxstBtonty for aach Rsgistèrnd Provld8r. Wo have thpknj the9e wthkh rnportthl tolw. Indlctor 2024 2023 0.0% ReInVtsnenf ¢Jeveh)pment and r181 works 1X)% 10.0% 28. Supply delfftffjd. Social unils 2b. suppty delNered. Non-soci81 h$1 3. Gèarfn 4. Interest ¢rf)itsbsed Tepaii¥ EBITDAR1 5. Scoal h(wiry ttAt pw nlt 6. opera.ng rnargin Swal housi 7. Operatkng rrrdWn lovw*l 0.0% 0.0% 0.0% £4.738 £8.S76 1.0% 16.4% -27.yh e.o% 29.1% 6.1% 12.0% Ratum 1.0% 0.4% em
ALMSHOUSE CHARrrY OF SIR LuA POWELL TRUSTEES, ANNUAL REPORT FOR THE YEAR ENDED 31 MARCH 2023 111. V•lu• for m(Thy l¢onUnwdl R•lTrveotm•nt- looks at the investment in prrwbes Iwstir¥J st(k as w81 as s(wtyl as a percentage ofthe value oftclal proFvties hdd. No Ca c8m8dLWt LW Almshous•s 117is year. QnqUeftnIal stKtrey fvn6d ts 2024. 2. Ngw •uppty soclal hou•lry urtl¥- sel8 thg numtw of nthv gxAal IU$1r¥j and nLTrsocial luSing units that hav? bttn 8cqured or d•v•kyd in Ihe year AS a wjwb.on of iots180ckql kjusing units and nofvso¢W Ixwlng own8(l ai portwj $nd. Th8 Ghorftyls not dgv•kpli>g •nyrtewpropeth& 3. G••rlng- 0$50sses Ivyw rrwh ofthg •JjustyJ asF9ts are up ofdobt and ts dogw of depthn on debt fingnGe. Thg Chwty ¢kn¥ n(h8vg any lo8n¥. 4. Emlny b•lorn Int•rn•C d•w•¢lthn. m¢%11•th. r•p•lrn In¢lud•d- IntOr ¢ov m•8sur• 1$ a k•y Irbjieator for liqwdty investm tapacity. It saeks to m8asurts tho knvel ol surplus that a registered prowf1er gwiwates c(rfDpared to inlern•l payabkn.. aVOlIv tJi8tortion8 ariwng Irc deFffecl8tknn. Th Ch8rfty d8 nothave 8nyloon8. 5. H••dlh s¢xl•l houthg eo•t p•r unlt-assesses tho heJlne scxaal h(NJslng ctht per unlt as defined by the RJLd8tor of Sctlal FkJusiTrJ. Th8 Charitys headlw7e castsper tmit are lowthan lh8 t49ryetdue to 8. Op•rntlng tor wcl•l Immwlng and >v•rll- d•montrat•A tho wofitab511ty 01 op•ratlng ass•ts b•fcrfo •xcepbonal 0Xpen are tsken into acCnt. Incxea6ing margins are on• w•y to ImFWO¥8 th8 fin81 affldery ofa bu$8. Social incw89d to th& in m pa $nd rofvrbishmsftt thg yow. 7. R•turn on e•pltal •mploy•d- compares the ¢¥9.j 8ury4u8 to lotsl asgels less oJrTont liabl'e8 And Is a cmMOn m68gurn In tho ¢xmIraaI to &sse98 the efft irweBlment of cawtsl resources. Th• ROCE m•trfc wouhj 8uplt regl&erod ryovldgr8 TrAIth Invo¥tmenl wogT8rryne8. In¢ffj8$0¢1 d to dug lo fo11 in rpfvthshrngnl andm¥orrnpatr nd•d rtn9 I1 y8ar. 11. Fourolth• TNStttswoV•d durfThJth8 y•w¥M• d10Tnt8ofTh0 Ajm8hwS. On al mattws aff8cl1ry Ih8 Ch8rlty'$ deakng8 Th8 LY9 thatè Tru8teeB abslaln frorn ¥otlng at Tw8tee8' meellngs on rn18ted paty mattern 12. Golng conrn Th¢ Tru$lee$ h8ve rewepd the fjnanc4I1 F#)sib'on ol the Charity and cwffjthred ils ffinancA forecas18 and Jmmitinènts lor IckniNJ yw ènd C4)dudad thot Ihar8 aro no mot¢rig1 un¢wtsinties that ¢$$1 th)utyt on the Charfty's 8bW to (vth'we as a immwjlale fvthJTe. TJ$t hav• th• NalkThl Hwsmg Fthticffj's INHFI CodeofGovwnanc8 201S and comply oryani8abon. Tn185 are (wmittod to integrity #Thj c%nt)lIty in 8IWW8FdBhtp of thtr Alrnshou8e's 8ff8irs #nd conslderlhatthe TnJsle6s have ccrfnF4ledthrth8 pcl uthrevkywwhhts provlsk)ns ofthe NHP8 Code of Govwn8nce 2015 èxcept as Idk)ws.' Tho Trust8•s do ci)nsKler it approwiale lo arpoKrt an wd4 rjjmrnillee tr a oryJanvdabon. The Goveming DrKuml provides fr)r trustees to for t•m)$ of lour yearts and (kns rK)t requlre a maximum length ofswe. l>)vemiTrJ Dcajment 0 prow¢*s Ihalcertain trustees be apnted In ex4)lficio capacity and forothers to be nominated by Ihe CourKI ol Ihe B(xwgh ol Harnm8rsmth and Fulham.
ALMSHOUSE CHARrfY OF SIR yLUAm POWELL TRUSTEES. ANNUAL REPORT FOR THE YEAR ENDED 31 IAARCH 2023 14. Trut•• Thg Tn4tses wh) 808d duriFKd 31 March 2023 were aB folhm".. Chalr.. Deputy Chair Hon Treasurer. Rev.Perffiy Seabrwk Gly Nesie(4mith JP Ire6Ogn8d OB11¥22) PhiSp Hedges Clr AdnMl• AJlc¥d Sylbia (r? 2Q1091221 C8Jdiro Needham {rewl 231(k%1221 Clr Sharon H¢ Clr Ann Rc6erkng (IBS 23105r22) J1rth Gr8h8m Laurn Auckknnd Thrynys 181051221 Pa Hall Cath8rtM Cul Thom88 lapFthtsd 11(22) Robgrt Rose (SpIn1•d 191101221 Clr Lucy (011nt0d 22109r221 P8d Ajexandgr lapw'nted 23105r22 18A04riJi Rw.Petsr Keitl818pwnl8d 021021231 10. Stat•m•nt oldl•¢lo•urn ol InmmI10n to e•portlng •¢¢wthn¢ We. the TfU8t888 oftha fvjmshcthe h8lJ ollka at the d•te (rf apFKoval ol Hnon¢W ststsments. 88t out •bov•, exh tsjnfflmi 80 lar as w• arn that.. there 18 no TelevaDt exwnln0t1( Irrfonnalk>n rA th Ihe mShse,9 rep)rtlng accwntanl Laar•.. And w& havè t8k8n 81 th• sttys Ihal wht lo have tak•n 88 Tw¥toes In ordef to mak• OU{s8fv awar8 of any fel8vant •xamNiabon tthmiati aThJ lo •stablish that th8 Almshouse's 1fj. Tru•t•M' pIbIlI1l•j Th• Chartlas A¢t 2011 and th• HryolrvJ •)d R•go kt 2CQS requiw Ihe 808fd of Trusto8s to Prepa fknanclal statements ts eac flnaThl yaar whh glve a aThJ far vl8w of the Blats of affalrs of the Almslbmse and of its inc4)m8 and exfftrture Ihot make jtklgements and esbrnateg Ihal re830n8bkn and wdenL $tsto whathar apF4th8 accc¥Jnkn"rJ siandards hav• boan folsw•d. $tyt to any matsrial departur•s disdosed and eAF48ined in the fin8nual ststements.. and prepare the fmanrial 3tatements rm thg svu¥J basls unless it18 thapprow to presume that the Aknshouye wll continua in bn&. any tim8 tha financial SIti"L of AjMShsO and onatd8 it to that th• finak8181818m8nis comply wth the Charities Act 2011. arKI Ihg How4ir¥J otsj R8g9n8rati Act 2Q)8. 11 has general responsibilty for lakjng rwasonabk stepskn sguard the assets rfthe nshse and to wevant and elfr#LH1 other Irregularfb'es.
ALMSHOUSE CHARrrY OF SIR WILUAM POWELL TRUSTEES. ANNUAL REPORT FOR THE YEAR ENDED 31 MARCH 2023 17. InpOl0ftf ACCO¢•nt A re5dution ID appcdntth8 r8FKYlirvajntsnts'. Stwih8r5, has been approv•d by th•TNst•8s. 18. Approval Ths R8pJrt and Ihe Accgxmts were aF[l ty the T1888 *KI sywl on tsir behalfby.. R•v. Penry Seabrrxd Ch•1rp•rn Dat•:
INOEPENDENT EXAMINER'S REPORT TO THE TrUSTees OF ALMSHOUSE CHARITY OF SIR WILUAM POWELL FOR YEAR ENDED 31 IIARCH 2023 l Teport to the charity trusÉ¢e5 on MYexnIThoth(m of the a¢¢m of the Compw forthe yearendol 31 March 2023. RespoHslblllths And bsts of rtport As the tlwrity's trustees of th¢ AITnsh¢)us¢ Cltyrity of Sit Willith Powell you are responsible for the prwtion of the accoutlts in accordan¢c with th¢ requirements of thc Comp8nies Act 2(X161'tht 2(X)6 A¢i'l. H¥ving sat15fKd myself ihBt the account5 ofthe AoUSe Clwily of Sir William Powell are noi required to be audited under Part 16 of the 2( Act ¢li8ible foriDdewd•)i examtn81l0 l TWI in re5PeCt of my examinatioD of your ¢lwrity'$ 4¢¢oumts % ¢attl 4)ut uth sethio# 145 of the C1wTilie5 Ad 2011 ('the 2011 Act'}. Tts ¢arying out my rnination I hai'e followed tk dire¥lions giirn by Charity Commission section 14315Kbl of the 2011 Aci. Indep¢ttdettt ex•mlow'• itstement I hav¢ iompl¢i¢dmy¢xwoiDstwTh l¢ourmthwffj1¢ls1weCQmlOMyllEtloD ID COtuKctionwith th¢¢xwinAtion 8ivin8 me ¢4uye w b¢lt¢v¢'. acLounlin8 recoxds wcre not k¢pt in ie4Ject of the Alokn awity ofsir Williim Powell as required by $e¢tion 386 of the 26 A¢L or 2. the accounts th) tbx •¢cffd with th08¢ re¢d&. or 3. th¢ accoun¢$ do th)1 Comply with the a¢¢ouMing rtquiremeblts ofÉeciion 396 of ttle 200f Acl othv iban any requirement that the accounts 8ive a fair view, which is noi a Cons¢[¢d as pArt or indeent exaMSli0n. or 4. the Ints hove Jw prep8r¢d in ¥Lx)rdan¢e with ihe and pritt¢iples of the StumetLI of Rcromrncndrd Prnrlitt for >Iling atKI T¢PWtJn8 by ¢hrili¢s lappliuble 40 dl'lIeS preparin¥ th¢ir o¢¢ounts in ordance with th¢ fin8n¢ial Re['n8 s18ndd 8ppliubl¢ in the UK ind Reblic of ITtlaThl {FR8 10211. I have no con¢¢rn$ gnd ho ¥¢t¢w other matter5 LD with th¢ ex•miJwtion vkni¢h httttltion 5bouid be thxwn in ihis TEPOrt irt der to erthble • pN)perUrMleing tsf the *CLRm¢s to be ruLhed. Helen Binns FCA Chgr¢ered A¢¢ounts One F.xpress l G¢orgc l.¢igh Stseet Ancoals Man¢h¢strr M4 SDL D4te...wcq.I..IJ.. 10
ALMSHOUSE CHARfrY OF SIR MLLIAM POWELL STATEIAEKf OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2023 2023 2022 Funds Funds Total Total Charitable activit Investments 83,184 29,678 83,184 29.678 73,496 29,305 Tolal Incom• 112.862 112.862 102 801 Exp•ftdIr• on". Chantabk activitse$ Investment managemerrt Other 89.561 6,119 69,561 6,119 93.500 10 3,066 Total •xwbdIr9 75,680 Net Incom8 befor• inveslrmnts gains 11083esl Net gain l {losses) on Tr)vennt of investrn8nts 37.182 37,182 6.235 10 {54,737) 154,737) 29,649 Not 1•xndItrOl I Incom• 117.6S6 Not mov•m•nt In fund• 117.655) 117,5561 35,884 R•conclll•tlon of fund•: Totsl funds brought fOard 13 1.281.954 255,230 1,537,184 1,501.300 Total funds c•rrfod foThMryl 13 1264,399 25&230 1,519,629 1A37,184 All income and exrnditure derive from ccrtinuing &tivilies The statement offinandal actNlt*s irKludes all g•ns and k)sses re(wnistiJ during the year. 11
ALMSHOUSE CHARrrY OF SIR WILUAM POWELL STATEMENT OF FINANCIAL posmoN AS AT 31 K4RCH 2023 2023 2022 Fixed atsets Tangible assets Investment propety Investrnents 574,202 586,743 10 810,094 842,697 Curr•nt ass•ts 1,444.296 1,489,440 11 Ca$h al bank and in hand 3,806 80.787 2,539 62,979 84,592 65,518 Cr•dltor•: amount8 falllng du• vAthln on• y•ar 12 9.260 17,774 Net ¢urMnt a•••ts 75.333 47,744 N•1 aM•ts 1.519,629 1537,184 R•strlct•d and unr••trkted funds Unreslricted lund8 ReStted funds 1,264,399 255,230 1,281.954 255,230 Total charKy lund• 13 1519.629 1,537,184 Th8 financlal statements were appmved and aUth0n for is8ue by the Board on IY SVWYA Lot3 Sned on ha of the board of trustees Signaiuro: sh)nare.. Namg.. Nan.' I. E¢J Etl . The notss on pages 1 12
ALIASHOUSE CHARrrY OF SIR WILLIAM POWELL NOTES TO THE FINANCIAL STATEMEMTS FOR ThE YEAR ENDED 31 MARCH 2023 L•g•l Fomi The Amshouse Charity of Sir Wlliam Powell is a registered thanty Mi England wth the Charity Commission. The ldr of rts regtered offi( is The Lygon AJmshoL. 313-321 Fulham Palace Road, Fuham. London SW6 6TH. Its F4ac• d businass is Th &"r Wllam Pow81 AJmshou686. Chur Gate, Fulham. LcdC. SW6 3LD. PRINCIPAL ACCOUNnNG POLicie8 8•6ls of 8¢¢ountlng The flnanclal statements have been wepargd In acoydarKe with tho Fin8ncl81 Reporting Stsndard 8ppI1¢ab In tho Unltsd nty10m sr1 R8pubk d IrdarKI IFRS 1021, the Statement of R0mmend0d Practice 8pplicalAe to tharities preparing their acojunts acCOrdar with the Financial Reportin9 Standard apFlicable in the UK and Republic of Ireland IFRS 1021 In Oclobor 2019 ISORP 20191, the Charitios Acl 2011, the A£cOLbntQ DirKb"on for privale register provhjers of soThal housing in England 2019, the HoUr1d and Reg8nwth A(a 2tX)8 UK Gene Acc•pt•d Accounllng Pract1. charity constllvtss o publlc b•ngfit 89 dèfin ty FRS 102. ftnwclal statefflents have ton kYeP8od und8rthè histort81 CA)8t ts)nV8nI M an accru818 basis. Th8 finanual statements ar& entod in sterfirJ whiL 18 the functiMI (XNTWW rA th8 ch8nty and rwndgd to the nggrost £. incoming resources w• rncJd•d in lh• St8t•m¥nt of Fina181 Activits ISOFAI when the charity is galy enbtkny to the incoTh 8fter any perfcrfmanco C{dn8 h8vg b99n ft¢. the amounl can bo ma88Ufed rellabty and bt ts probaile Ihat the ina)m& VAI bo rtcelvod. Outgolng r••Ou1 l•xp•ndltur•l Ll8t41Mlos ar8 fwn18ed #s resree8 expwvjtsd 88 to 88 there18 a legal or conylwctive ot41gaUon GommltdrwJ Iho ¢h8rlty to Ihe exp8ndtture. All exp•r•jire 1$ 8¢counte(I for CA) 8n accwds b88[8 8nd has been classsfied under the head1r Ihat weggts al costs ted lo thg c4togyy. Costs of tharltsbl8 acilvltle8 Incaude all o)sts rdatkw to the matht8nanc• of tho hsIng pn)partl•s as well as the SUFWI ar welfare of the resld8nts. OthW0xpendre IKaud•8 ts cost Of9)Vwn8n aTh¥ryomth8 relat8 to the general wnnlng of the Charity. Support cosls are those that assisl the of Iho tharity I1 do not dlreclly r?prent chartsbb actiWI'•s and indude (Afi¢¢ costs. govwnance cosis. arKJ lMItr"ve COBts. Tnglbl• fix•d a8ut• Tanglblg flxgd assets 8re statwj 8t cost lor 0oemo<J ts1) 1•68 8¢¢uffKJlated depraclalon and fjccumulat IM1rManI kw¥e¥. thl i1$ costs dirndy 8ttriiKJlabb to makirtrJ the asset capable of ow8ts.ng as intended. Depreckthn IS [O¥J&d on all langtle fixed assets. at Tat•s Cakted to wrlt8 off the wsl, 18SS esllmated resbjual vae, of e8c 8Met on 8 sJstwn*ic basis ovew N5 expected useful Ille a5 folJw5'. Klt¢hen$ Bathrooms Plumbing 20 ye•8 ecilw¥ 30 yews Equipment 30 yS Structum (sh} slono 40 yews LaThJ 15 years 5 years 11KI yearn Indefintte 13
ALMSHOUSE CHARIYY OF SIR WILUAM POWELL NOTES TO THE HNANCIAL STATEMEKrs FOR THE YEAR ENDED 31 MARCH 2023 PFUNCIPAL ACCOUNTING POLICES (contlnuBdJ D•blor• Amounts receNabl8 lor paid in thance) at ts end cl the pffhjl are kncbjded kn th& ats uNJer debtor& These MKIJ knvoOc•d $8Nke8 orKI prep4d expendrtwe. LhlAItI Arunt8 payabl8 at the 8nd of thè p8rKxJ are in tho a¢eLxJnts urKler amounts paya• within after on• yr as aprmprlats. ThI$11Udè$ 8mowTrts ¢j to suppkn and accrued exp8ndlttFr• Id Jl not Involced and Inc£#n8 red In ¥81. Investments we rwniBed inilialy 81 faK val wthic is Thymolty th¢ transaclion pric• exduding transactlon costs. Subsequendy, they are me8surod at fa value th charoes recogn15ed In'nel gal3 I Ib8S081 on Inv¢stmonts' In the SOFA rf th8 shares are publdy ir&Jed or thelr falr yo1 con othe4 be measured rell¥bty. Olhw InvesbMts ore moasurwj at $1 $$ impaiffnenL The Almshous•owr6 th• fr••Id and r8Yw8kThry lrtere8t ol Hurllngham Mar$8lons. N•w Klngs Road. SW6 4PA, wFuch comprfsos 23 tsts ond ¢ommgfoal prcyglty sokl on kng ba$$$. This inlertrsl Is vdued on t basiJ of the CUrtt opn mark•t val discwntsd by lh• VliCoJ of Ihe unexpired leases. ImpmmIllts to prop•rtl•• The Charty caprtall86s 8xperKJllur• hou&ng P[110S whkh ¥dds lo th• Val of thè kyoperty extends hs u80ful I0. ImprovemMts lo prcwty that rdats to assets that have a saparatoty SdentlAabl• Iwe to th• pr¢p•ty corm&d 8r• also capltallsod bul under a category sepwgt• frcrfn the property. Provl•lon• Provlskns arè re(tyr4s•d Charfty h08 an cbJatkM atthe balarI 8ho•t d&ts as a result of a Past event. It Is prcthbl& that an ryjtllow of be VAI bo rwwlr•J In settt•m8nt and th• amount carb be relk8bty esbmated. Golng ¢on¢•m The flnanclol statewnents have be preparod on 8 Ong b881$ 8$ th• Injstees belleve that no m8tèrlal unc8rtalntl8s 8xlst. The Ituslees have c(SJered the level offunds held and the 8xpact8d18V ol income and expendlture for 12 m¢th$ from authorf*ng Ihestr fknantyal ststements. The budgeted Income and exponditwo 1$ suffi¢knt wlth 10¥ of r88erv85 thg Charfty to bg Ot)18 to Lxjntlwe a going concem. Judg•m•nts and k•y Urt•• of ••tlm•tl¢)n un¢•rtalirty preparation of th8 financd stalenwnls wuires manapment to make judg8mgnts. eslim8tes 8nd assumpts'ons thal affect the amounts repd for assets arjd liablili8s as at the br sheet dats and the amounls report&J for reven and eX59S during Ihe year. 14
ALMSHOUSE CHARITY OF SIR MLUAM POWELL NOTES TO THE FINANCIAL STATEMENTS FOR The YEAR ENDED 31 MARCH 2023 PRIPICIPAL ACCOUNTING POLICIES (con1thd) However. the natufe of eslimalion moans that xbjal (MJl(xrn could drffer from those estimates. TF* followw)g iudgements lapart from those invthing estimates) have had an effect on amounts fec(yJnised in th8 fmancbal stat9m8nls". T8ngTrlAe IOxe(18s8ets we deedated over thelr usetul Ir tsklThJ iFrto accounl residual values, where
ppropriate. The actual l¢ves of the assets and residu81 values are assessod annually and m8y vary
dePdIng on a number ol lacity In fOra$sessiNJ asset INes. factors such 85 technologica innovation, (Kluct lrfe cycles 8nd m8Inten8nce wogrammes 8 t8ken Into accInt. Residu value assessments consider bSSUOS such as fulurg m¥kai ccffldilMM. tho r8tTha•iiThJ lifo ol tho a1 and projectod disposal values. Designated reseNes are part of unrestricted reseFves have been 6armarked by th9 Trustees for P8rtlcular Pur8. Such dewgnaliorts may b& mersed by future Truststs d6ci8k)ns. Exp8ndtture cannol be direcuy set agalnst thshJnate4J reserye8 but Is laken thrgh th? InK¥ne 8ThJ expendtturo acc(wnl. A tr¥nsfw Is (hen nlgdo from designated i•s•N•s as apprc)rtaté. The AJmshoLne design8tes those re$6Th1tr3 sel #Shje for fvlure major r8poirs on 811 of Its housir@ 0rt. Th8 anKwnt$ sel asidè are basoj on A stock cx))dili survgy of thg AJm$hou$e's hou$iNJ Yowrtl8s an(1 reprnIS th8exp8ndjr that cannot be m&t from tho AlmshoLW'S lulure rental In0 Stream. The designaled reserve is ts affKwnl Ihat the Trusloes estimale is required for future major repairs. Restrfcted reserves represent th8 sc481 1)1rJ granL If the AMy1)uSe,8 houslrwJ FPertIeS were to scld thls would r•payabl•. Revalu8th"on reseN68 repre80nts thè revakJ8kn vakne ol tho Investsnont prOrty and th8 d4fferén belween th8 mwkol vol 8j c(1 of thg rJJrronl 8880t inv88lrnenls. Taxatlon The Chwlty ha8 charftablo staius ilh HM Rev and ClIn$ and UK tsx on Its primary purpw tr8dirKJ iw•sIr IT0. Flnanc5al Intrum•nts Financial mslruments sh 88 I$, a¢0nts p8y8bl88. 8C£fAmts fvat4eY and cash are thssffied •ithor as basic or complgx. Al financial instrwnents 8ro In. m988ur8d 8t thglr f81r Va8$ 81 the lime the transa¢tTrons o¢rgJr. Subseqventy 81 basic instruments ¥fe measured al amortised cost and all Complex finan081 instruments are mèasured at a lair value thrOh the compr&h8nswe income. Financial instruments h•bJ bytho Chanty dasSI as folchhs". .Cash 18 8t ¢(L Fixed asset investm8nts aT8 h81d at fair YalL •Olher finanaal assets sLh as current asset investments and receNobks are dassified as loans and receiv8bkn and hek18t ¥ned c4)81 U6Nig the effecbve InteSt melhod. Financial liabiliti8s such as bonds and kjans aro hobj at amortts8d cost uwrvJ the offth kn191 15
ALMSHOUSE CHARITY OF SIR MLLIAM POWELL NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023 Incom• from ¢haritable actfvitigs 2023 2022 Charges to resmlents net of voKts 83.184 73.496 83.184 73.496 Loss of in¢otr due to VOKI rr 620 5,705 In¢omo from Invoslments 2023 2022 DIv8nd incoff¢ Ground rent 28,253 1,425 29,678 27,582 1,723 Anatysl• of rMour¢o8 •xp•nd•d Other Dlro¢t Support T¢Aal Other Direct 2023 Support Costs and Total 2022 arftabla manageffnt fee Govemance costs Insurance Professlonal fees Legal expenses Bank charges Depre¢th"on Gas Lhtrng Water Telephone Gardening Equipm8nt Rent and maintenance Routine maintenance Weware and Ofke costs Major paIrS 16,309 2.962 3.634 (1,246) 2.779 162 12,540 4,473 2,157 1.065 16.309 2,962 18.000 3,308 6.157 4.800 129 14,453 5.294 2,021 1.023 354 5.034 1.172 4,679 1,607 27.469 2.779 162 12.540 4.473 2,157 1.C%S5 4.420 1,643 5.325 2.576 10.377 4,420 1.643 5.325 2.576 10,377 69.561 69.561 93.5(N) There were no staff employed by the Amshouse Chanty of Sir Wlliam Powell during the year {2022 none). Governan costs are rsS[fied as Chartte activit*s expenditure {see Note 5) 16
ALMSHOUSE CHARiff OF SIR IWLUAM PQWELL NOTES TO THE F14ANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023 2023 2022 ReFytir¥J tntants. Fee VAT) 3.100 3.066 3.100 Tho a¢¢ountants' remunerakn.on lèxduding VAT} is repcffting fe8 £2.00012022.. £2.1J)01 and other services of£63812022.' £6091. Pr8vh)usty classffi8d as govtsYnarKe costs th958 are now red888ffi8(188 ¢harit8bl• &vilM ex[jibjT8 {we 41 In wjlh many other wisaliLTh of size aTrJ nabJr8 we use our aCntsnts lo assist wlth tho proptrttion of tho financial stat•ments. Tru•l•• r•mun•r•tlon and •Xp¥ truste&s n8ilhgr recei1 n(Y w3Ned any remunerat•)n during tho y8ar12022 £Nill. No exFon880 wor& raimbursod or poid lor ty th¥ lo truSt8(2022. £Nd). N•t kncom• l •¥P•bthrn for th• y••r •ndkng 31 March 2023 Nel Income l expdre is stknj after chargY4 I Icreditmg).. 2023 2022 D•pr•C[atic of tangt48 ft<1 a88•t8 12.540 14,453 T•n9lb fix•d ••••ts Alm•houv Alm•lK•UM Equlpm•nt Compon•nts Tot•1 Cost At 1 April 2022 Additions Disposals Al 31 March 2023 4.953 804.049 28,201 837.203 837.203 Oewacio110rt'. At l Aprfl 2022 Charge for the yoor Disposal At 31 March 2023 224,636 11,352 25.824 1.188 250.460 12,S40 235,988 27.012 263,th) Net book value.. Al 31 March 2023 Al 31 March 2022 4.9S3 Sfj8.061 579,413 1,188 2.377 574.202 586.743 Thg net tx)ok va9 of18fKI lrfd1n offre8lK*J 17
ALMSHOUSE CHARITY OF SIR IMLUAM POWELL NOTES TO The FINANCIAL STATEMEMTS FOR THE YEAR ENDED 31 MARCH 2023 FreeFKJbJ 00.000 No records are avattat4e olthè 1))st oftbe InVeStprOty. In thé oplnkn olthe Trustees thg mot vaug of the frgehofvj reversbn of the imieslment prcwkn15 £60.(K)O. Th& freehfAJ b subject to k)ng lèas88 on 23 nats and commerc401 woperty 8nd tho reversk)nary Inter8st for 10880$ In thi8 area of Lon¢J. together with ground rent is estimated to te not183s than £60.OCQ. This v81u8b.on is based on mformal thl¢o from a cwter¢d 10 Inv••kn•nt• Total Fund8 As at 1 April 2Q1 R8vduatkx Additions Dlsposals A8 at 1 Aprl 2022 Rav81uatlw8 Additions Disposals Cash addiliorts A• at 31 M•r¢h 2023 785,466 29,649 27,582 842.697 154.7371 22,134 810.094 Thè hi$tcit81 eo8t of li8t•d Invtslrr hekl as at 31 Marth 2023 is É792.13512022.' £770.0011. Tho rnanagemt fee iThwrred for the invo8knents 18 £6,119 12022.. £8,107). Thi8 i& prns8ntod 8gparatsty in thg Statnant of FinancAal P£bvtss. being fund raiBiro 8xpeTrJilure. 2023 2022 ResJents' arrear5 Prepayrnents arwj acCrt Inme 1A76 1329 1.246 1.293 18
ALMSHOUSE CHARrrf OF SIR bTrlLUAM POWELL NOTES TO THE FINANCIAL STATEMEMTS FOR THE YEAR ENDED 31 PAARCH 2023 12 Credltors: amounts fang du• wlthln on• y•ar 2023 2022 Prep8KI Rent CreditcKs 213 2.678 6.582 16,578 13 R••r¥• lund¥ r•conclllatlon anc• al 31 exp•ndllur• Gnl Tr•n•l•rs art• #t March 2022 Oo••MI 31 March 2023 Rev8nue ro8•rv8 Rev8lvaUon r88wve Oe8ignatsd reserve Unrestricled Funds Re8trfct8d r988rvg 415,107 175,743 691,104 1,281,954 255.230 106.743 (69,561) 154.737) 117,9581 17.958 379,594 193,701 691,104 1.264,399 255,230 106.743 (69.561) 154.737) Totsl 102 743 1519629 Infomiation on iTrJNldual rnseTho tfj18r and puwo$ hfjkl is IrK4udad In ncts 1. 14 of n•t a•••ts b•tw••n fund• fund• fund• Tothl Fixed assets Currerf 88sets Currtsnt lIalItIeS 1.189.CIS6 84,592 {9,2fA)I 2SS.230 1.489.440 84.592 9.2601 Total 255.230 1 S19629 15 ROI•d pArty tr•n••¢llon• The Lygon Almshouses is a related paty they manage the hJmshcMse Charty ofsir William Powell and hav8 several trustees Sn mITh)n. There four other TnJsIS In Cornn the charltles durlng the y88r', m A Allford. Reverend P Seabre<, Clr A Rosenberg. and MS C Nè8dham. Durlng the ye8r Lygon AM8$&8 h88 providod man4omenl swices to Mmshou89 Chanty of Sir William Powem for which it tharpd 8 lee of £16.309 {2022. £16,C¥))l F4us expews of £nil 12021.. £nill. 19
ALMSHOUSE CHARITY OF SIR WILLIAM POWELL NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023 16 Flnanclal lrntruments The carying anInts ofthe CharY'S financpl InStrun are as folkyws.. 2022 Financial a&sets Measured at fair value through net l expenditure.. - Fixed asset listed investments (note 10) 810,094 842,697 17 Prfor y•ar Statam•nt of Flnonelal Acthiltl 2022 Funds Fund• Total Charitable xtivtl lnvestffnts Total In¢om• 73,496 29,305 102,801 73.496 29.305 102,801 ExndItr• on". CharitsbK8 activil Other 93,5C 93,500 Totsl •xpendltur• Net l {los8es) on s of Snvestnnts Net g•n I (losses) on of In¥nts 29.649 29,649 N•t Inc<Kn• I I•xpMbdltur•l Rec¢)nclllatlon of fund•: Total funds tKought f(Yward 1.246,070 255.230 1,501,300 Total funds ¢anl•d forwa 1381*1 255.230 IA37,184 20