2021-03-31-accounts

SALEM AND FREMINGTON ALMSHOUSES

REPORT AND UNAUDITED ACCOUNTS

YEAR ENDED

31 MARCH 2021

CHARITY REGISTRATION NUMBER 253191

SALEM AND FREMINGTON ALMSHOUSES

CONTENTS

Trustees annual report	1
Independent examiner’s report	4
Receipts and Payments Account	5
Statement of Assets and Liabilities	7

SALEM AND FREMINGTON ALMSHOUSES

TRUSTEES ANNUAL REPORT FOR THE YEAR ENDED 31ST MARCH 2021

REFERENCE AND ADMINISTRATIVE INFORMATION

Governing Document	Deed dated 1834 revised in 1970.
Registered Charity Number:	253191
Registered Address:	15 Higher Church Street,
	Barnstaple
	Devon
	EX32 8JE
Trustees:	Mrs L Hancox (Chairman)
	Mr J Taylor
	Mrs G Braunton
	Mrs S Bennett
	Mr Peter Kidd
Bank:	Lloyds TSB
	17 Cross Street
	Barnstaple
Financial Adviser	Croft & Co
	14 Barnstaple Street
	Bideford
Independent Examiners:	Large Chartered Accountants
	13 Silver Street
	Barnstaple
Solicitors:	Brewer, Harding and Rowe
	The Square
	Barnstaple
Insurance Broker:	Grout
	Woolwich House
	2ndFloor
	43 George Street
	Croydon

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SALEM AND FREMINGTON ALMSHOUSES

TRUSTEES ANNUAL REPORT FOR THE YEAR ENDED 31ST MARCH 2021

The Trustees have pleasure in presenting their report and the accounts of the charity for the year ended 31st March 2021.

Structure, Governance & Management

The Salem and Fremington Almshouse Trust is a registered charity governed by an 1834 deed as amended by the Scheme document dated 12[th] November 1970. The Trust is also member of the National Association of Almshouses.

The Charity is run by a Board of Trustees. Meetings of the Trustees are held quarterly. Management/treasurer services are supplied by Mr P Howe supported by Mr D Jenkins.

New Trustees are appointed by resolution of the Trustees at a quarterly meeting.

Objectives

The Charity’s object is to provide almshouses for the benefit of almspeople who shall be poor persons who are resident in the parish of Fremington and the borough of Barnstaple.

The Charity currently achieves its object by renting out the Salem and Fremington Almshouses to local people over 50 years of age.

In carrying out the Charity’s object, the Trustees have had regard to the guidance issued by the Charity Commission on public benefit.

Achievements

• All required Insurance policies are in place.

• Minimal remedial work and maintenance has continued throughout the year as a result of Covid 19 – all properties are in good order, some work has continued during breaks in Lockdown and in a socially distanced way, Maintenance plan is now produced each year to help plan and budget for ongoing works and renovation / updating of properties.

• All residents well despite Covid 19, all were supported throughout the year and all are looking forward to returning to some sort of normal as Lockdown eases.

• Gas checks carried out during break in Lockdowns and were completed in a socially distanced way.

• Devon County Council fitted stairlift to one property as resident was having difficulty climbing stairs.

• New tiled floor fitted to number 7’s kitchen.

• Almshouse trustee meetings have continued throughout 2020/21 but were carried out virtually via Microsoft teams.

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SALEM AND FREMINGTON ALMSHOUSES

TRUSTEES ANNUAL REPORT FOR THE YEAR ENDED 31ST MARCH 2021 (continued)

Achievements (continued)

• AGM carried out virtually this year.

• Upstairs toilets fitted to numbers 10 and 11

• Replacement bathroom sink and toilet fitted to number 4.

• All properties are currently occupied.

• Christmas meal was cancelled this year due to Covid 19. Each resident received a £25 Marks and Spencer gift voucher for Christmas and an extra voucher for £20 to make up for the loss of the Christmas meal.

• £20 vouchers given to committee members at Christmas to thank them for their ongoing support during difficult times.

• The Trust is represented at the Trinity St Residents Group.

• No changes to current board of trustees.

• Croft and Co continue to advise on investments in the current difficult financial climate.

Reserves Policy

We aim to maintain a bank balance of at least £10,000 in order to be in a position to meet unforeseen expenditure.

The Trustees declare that they have approved the Trustees’ report above.

Signed on behalf of the Charity’s Trustees

2021

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SALEM AND FREMINGTON ALMSHOUSES

INDEPENDENT EXAMINER’S REPORT TO THE TRUSTEES

I report on the accounts of the Trust for the year ended 31[st] March 2021 which are set out on pages 5 to 7.

Responsibilities and basis of report

As the charity’s trustees you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 (the Act).

I report in respect of my examination of the Trust’s accounts 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 Act.

Independent examiner’s statement

I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination which gives me cause to believe that in, any material respect:

• accounting records were not kept in accordance with section 130 of the Act or

• the accounts do not accord with the accounting records

I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in order to enable a proper understanding of the accounts to be reached.

13 Silver Street LCA

BARNSTAPLE CHARTERED ACCOUNTANTS

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SALEM AND FREMINGTON ALMSHOUSES

RECEIPTS AND PAYMENTS ACCOUNT FOR THE YEAR ENDED 31st MARCH 2021

2021 Receipts Incoming resources from charitable activities Rent contributions Other receipts Sundry Total receipts Payments Charitable expenditure Water rates 2,029.39 Council tax 1,206.24 Insurance 1,607.63 TV licences 30.00 Property maintenance 8,882.80 Gardening 336.00 Light and heat 117.38 Gift vouchers 570.00 Functions - Management services 7,200.00 Telephone 432.85 Sundries 90.00 22,502.29 c/f 22,502.29	43,185.00 - 43,185.00 43,185.00	2020 2,121.58 1,153.02 1,933.08 37.50 38,706.13 378.00 903.95 325.00 320.85 7,200.00 433.63 90.00 53,602.74 53,602.74	44,325.00 93.36
			44,418.36 44,418.36

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SALEM AND FREMINGTON ALMSHOUSES

RECEIPTS AND PAYMENTS ACCOUNT

FOR THE YEAR ENDED 31st MARCH 2021 continued

2021 22,502.29 Governance costs Meeting expenses - Accountancy 528.00 Postage and stationery 22.37 Subscriptions 216.00 766.37 Total payments Net receipts/(payments) for the year Cash and bank balances b/f 1st April 2020 Cash and bank balances c/f 31st March 2021	43,185.00 23,268.66 19,916.34 26,873.12 46,789.46 £	2020 53,602.74 208.95 516.00 8.02 410.00 1,142.97	44,418.36 54,745.71
			(10,327.35) 37,200.47
			26,873.12 £

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SALEM AND FREMINGTON ALMSHOUSES

STATEMENT OF ASSETS AND LIABILITIES AT 31st MARCH 2021

Assets Bank balances Lloyds Bank Cash	2021 46,730.70 58.76 46,789.46	2020 26,743.12 130.00
		26,873.12

Investments

COIF Charity Funds (101.55 units)

Aegon investment (previously Cofunds)

Land and buildings

Salem and Fremington Almshouses 15 Higher Church Street

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