2020-10-31-accounts - Joseph Kaye's Almshouses

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Joseph Kaye's Almshouses

(Registered charity number 250245)

FINANCIAL STATEMENTS

for the year ended 31 October 2020

Contents	Page
Legal and administrative information	2
Trustees' report	3
Statement of Trustees' responsibilities	4
Examiner's report	5
Balance sheet	6
Statement of financial activities	7
Notes to the accounts	8-10

Joseph Kaye's Almshouses

Legal and administrative information

Trustees	J Webster
	N M Parsons
	P Voyse
	D W Holland
	R Wales
	S Broadhead
Charity Number	250245
Principal Address	F Cullen
& Housing Administrator	94 Bates Street
	Sheffield
	S10 1NQ
Independent examiner	White Rose Accounting for Charities
	The Ghyll
	Threapland
	Aspatria
	CA7 2EL
Bank	HSBC plc
	Sheffield

Joseph Kaye's Almshouses

Trustee report

The Trustees present their report and financial statements for the year ended 31 October 2020.

Structure, governance and management

The Charity is governed by a constitution and administered and managed by the Trustees.

The trustees who served during the year are listed on page 2 of the report.

The trustees contract an Administrator to deal with the day to day management who reports to the Trustees at their quarterly meetings.

Objective and Activities

To provide accommodation in accordance with the aims and principles of Joseph Kaye's Almshouses Charity.

Achievements and performance

During the year all the properties were let and appropriately managed satisfying the principal objective of the charity.

There was a surplus on ordinary activities of £18,985 (2019: £16,885). The following net sums were transferred to designated reserves £3,920 (2019: £3,920)

Joseph Kaye's Almshouses

Statement of Trustees' Responsibilities

For the year ended 31 October 2020

Trustees responsibilities for the financial statements

Charity law requires the trustees to prepare financial statements for each financial period which show the state of affairs of the charity and of net income or expenditure of the charity for that period. In preparing those financial statements, the Trustees are required to:

q select suitable accounting policies and apply them consistently;
q make judgements and estimates that are reasonable and prudent.
q prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in operation.
q state whether applicable accounting standards of recommended practice have been followed subject to any departures disclosed and explained in the financial statements.

The Trustees are responsible for keeping proper accounting records

which disclose with reasonable accuracy at any time the financial position of the charity and enable the Trustees to prepare financial statements. The Trustees are responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention of fraud and other irregularities.

This report was approved by the Trustees on _______ and is signed on their behalf by:

Trustee

Joseph Kaye's Almshouses

Independent examiner's report to the Trustees

I report on the accounts of Joseph Kaye's Almshouses for the year ended 31 October 2020 which are set out on pages 6 to 10.

Respective responsibilities of the Trustees and the examiner

The charity's trustees are responsible for the preparation of the accounts. The charity's trustees consider that an audit is not required for this year (under section 144(2) of the Charities Act 2011 (the 2011 Act)) and that an independent examination is needed.

It is my responsibility to:

q examine the accounts under section 145 of the 2011 Act;
q to follow the procedures laid down in the General Directions given by the Charity Commissioners section 145 (5)(b) of the 2011 Act; and
q to state whether particular matters have come to my attention.

Basis of independent examiner's report

My examination was carried out in accordance with the general directions given by the Charities Commissioners. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from you as trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently I do not express an audit opinion on the view given by the accounts.

Independent examiner's statement

In connection with my examination, no matter has come to my attention:

1) which gives me reasonable cause to believe that in any material respect the requirements:
q to keep appropriate accounting records in accordance with section 130 of the 2011 Act; and
q

to prepare accounts which accord with the accounting records and to comply with the accounting requirements of the 2011 Act

have not been met; or

2) to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.

Signed:______ Craig Williamson

Date:______

White Rose Accounting for Charities The Ghyll Threapland Aspatria CA7 2EL

Joseph Kaye's Almshouses

Balance Sheet as at 31 October 2020

Notes Fixed assets Housing properties 2 Investments 3 Current assets Debtors and prepayments 5 Cash at bank - current account - deposit account Cash at building society Total current assets Creditors: amounts falling due within one year 6 Net current assets/(liabilities) Net assets Represented by Investment revaluation reserve Designated reserves Revenue reserves	2020 £ 63,944 105,468 169,412 219 4,114 13,967 129,279 147,580 (325) 147,255 316,667 95,410 62,233 159,024 316,667	2019 £ 63,944 99,475
		163,419
		225 1,411 8,321 118,643
		128,601

		(325)

		128,276
		291,695
		89,417 58,313 143,965
		291,695

The financial statements are approved by the Trustees on ____ and signed on their behalf by:

Trustee

Joseph Kaye's Almshouses

Statement of financial activities

for the year ended 31 October 2020

Notes Income from 1 2 Maintenance contributions Investment income Total income Expenditure on Insurance Subscriptions Heating & lighting Repairs and renewals Administrators fee Accountancy Sundry Expenses Total expenditure Net income/(expenditure) Investment Revaluation Fund balances brought forward Fund balances carried forward	Total 2020 £ 22,499 3,511 26,010 880 892 2,609 567 1,519 325 238 7,031 18,979 5,993 291,695 316,667	Total 2019 £ 21,907 3,541
		25,448
		918 663 2,454 1,321 2,520 325 362
		8,563

		16,885 11,070 263,739
		291,695

Joseph Kaye's Almshouses

Notes to the accounts

For the year ended 31 October 2020

Accounting policies:-

1(a) Basis of preparation

The Financial Statements have been prepared in accordance with the the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102), and the Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with FRS102 (effective from January 2015 and updated with effect from January 2016) - (the Charities SORP (FRS102)), as modified for smaller charities.

The Charity meets the definition of a public benefit entity as defined under FRS102.

(b) Accounting for income

Donations and sundry income are accounted for on receipts basis. Grant income and fee income are accounted for on an accruals basis, insofar as it is prudent to do so.

(c) Resources expended are recognised in the period in which costs are incurred. Resources expended include attributable VAT, which cannot be recovered.
(d) Accounting for purchases with an expected life of more than one year It has been considered prudent to write off the costs of such items in the year of purchase
(e) Depreciation is provided at rates calculated to write off the cost of each asset over its expected useful life, as follows

Freehold land and property - nil

Fixtures, fittings and equipment - 10% straight line

Joseph Kaye's Almshouses

Notes to the accounts (continued) For the year ended 31 October 2020

2 Fixed assets housing property

2 Fixed assets housing property
			Total
			£
Cost or Valuation
At 1 November 2019			187,186
additions
Less: Registered Social landlord grant			(100,173)
at 31 October 2020			87,013
Depreciation
At 1 November 2019			23,069
Charge for the year			-
at 31 October 2020			23,069
Net book value
at 31 October 2020			63,944
Net book value
as at 31 October 2019			63,944
3 Fixed assets investments
	Purchase	Market value	Market value
	Cost	2020	2019
	£	£	£
The Official Custodian for Charities:
Charities Official Investment Fund
3,366 income shares	3,498	60,506	56,982
136.46 accumulation shares	2,820	28,137	25,680
National Association of Almshouses:
Common Investment Fund
3,175 income shares	1,100	2,655	2,783
142 accumulation shares	1,740	13,137	13,000
Charibond Charities Fixed Interest:
Common Investment Fund
825 income shares	900	1,033	1,030
	10,058	105,468	99,475

Joseph Kaye's Almshouses

Notes to the accounts (continued)

For the year ended 31 October 2020

4 Staff numbers and costs:-

There are no paid employees via payroll, there is a freelance Adminstrator who deals with the day to day management who reports to the Trustees at their quarterly meeting

No other trustees are remunerated. No trustees received reimbursement of out-of-pocket expenses.

5 Debtors:-

These refer to monies being due to the charity at the year end. They are in respect of:-

Prepayments (Insurance)	2020 £ 219 219	2019 £ 225
		225

6 Creditors and accruals

These are expenses owed by the group but not paid during the accounting period. They are in respect of:

Accruals	2020 £ 325 325	2019 £ 325
		325

7 Fund balances

		From
		income and
	Brought	expenditur		Carried
	Forward	e account	Transfers	Forward
	£	£	£	£
Designated reserves
Extraordinary repairs	31,981	-	1,650	33,631
Cyclical maintenance	26,332	-	2,270	28,602
Investment revaluation reserve	89,417	5,993	-	95,410
Revenue reserves	143,965	18,979	(3,920)	159,024
	291,695			316,667