## Joseph Kaye's Almshouses
**(Registered charity number 250245)**
## FINANCIAL STATEMENTS
## for the year ended 31 October 2021
|**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|
2
## Joseph Kaye's Almshouses
## Trustee report
The Trustees present their report and financial statements for the year ended 31 October 2021.
## **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**
**T** o prov **id** e accommo **d** a **ti** on n accor **i d** ance w **ith th** e a ms an **i d** pr nc p es o **i i l f J** osep **h K** aye 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 £16,461 (2020: £18,985). The following net sums were transferred to designated reserves £3,920 (2020: £3,920)
**3**
## Joseph Kaye's Almshouses
## Statement of Trustees' Responsibilities
## For the year ended 31 October 2021
## **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
Trustee
4
## 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 2021 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
5
## Joseph Kaye's Almshouses
## Balance Sheet as at 31 October 2021
|**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|**2021**
**£**
63,944
113,760
177,704
223
4,934
13,554
145,329
**164,041**
(325)
**163,716**
**341,420**
103,702
66,153
171,565
**341,420**|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|
The financial statements are approved by the Trustees on __________ and signed on their behalf by:
Trustee
Trustee
6
## Joseph Kaye's Almshouses
## Statement of financial activities
## for the year ended 31 October 2021
|**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**
**2021**
**£**
22,502
2,899
**25,400**
887
808
2,400
1,570
2,666
325
283
**8,939**
**16,461**
8,292
316,667
**341,420**|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|
7
## Joseph Kaye's Almshouses
## Notes to the accounts
## For the year ended 31 October 2021
## **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
8
## Joseph Kaye's Almshouses
## Notes to the accounts (continued) For the year ended 31 October 2021
## **2 Fixed assets housing property**
|**2 Fixed assets housing property**||||
|---|---|---|---|
||||**Total**|
||||**£**|
|**Cost or Valuation**||||
|At 1 November 2020|||187,186|
|additions||||
|Less: Registered Social landlord grant|||(100,173)|
|**at 31 October 2021**|||87,013|
|**Depreciation**||||
|At 1 November 2020|||23,069|
|Charge for the year|||-|
|**at 31 October 2021**|||23,069|
|**Net book value**||||
|**at 31 October 2021**|||63,944|
|**Net book value**||||
|**as at 31 October 2020**|||63,944|
|**3 Fixed assets investments**||||
||Purchase|Market value|Market value|
||Cost|2021|2020|
||£|£|£|
|The Official Custodian for Charities:||||
|Charities Official Investment Fund||||
|3,366 income shares|3,498|64,774|60,506|
|136.46 accumulation shares|2,820|30,552|28,137|
|National Association of Almshouses:||||
|Common Investment Fund||||
|3,175 income shares|1,100|2,863|2,655|
|142 accumulation shares|1,740|14,565|13,137|
|Charibond Charities Fixed Interest:||||
|Common Investment Fund||||
|825 income shares|900|1,006|1,033|
||10,058|113,760|105,468|
**9**
## Joseph Kaye's Almshouses
## Notes to the accounts (continued)
## For the year ended 31 October 2021
## **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)|**2021**
**£**
223
**223**|2020
£
219|
|---|---|---|
|||219|
## **6 Creditors and accruals**
These are expenses owed by the group but not paid during the accounting period. They are in respect of:
|Accruals|**2021**
**£**
325
**325**|2020
£
325|
|---|---|---|
|||325|
## **7 Fund balances**
|||From|||
|---|---|---|---|---|
|||income and|||
||Brought|expenditur||Carried|
||Forward|e account|Transfers|Forward|
||**£**|**£**|**£**|**£**|
|Designated reserves|||||
|Extraordinary repairs|33,631|-|1,650|35,281|
|Cyclical maintenance|28,602|-|2,270|30,872|
|Investment revaluation reserve|95,410|8,292|-|103,702|
|Revenue reserves|159,024|16,461|(3,920)|171,565|
||**316,667**|||**341,420**|
10