Stow-on-the-Wold Almshouse Charity
Trustees Annual Report for the period 1 January 2021 to 31 December 2021.
Charity No. 253240.
Overview
The Stow-on-the-Wold Almshouse Charity (SAC) is an unincorporated body of up to nine trustees who are unpaid volunteers living locally. SAC manages and administers 6 almshouses and up to 6 residents who are sole occupants, the governing document is the Scheme of 18 October 1971. We are members of the Almshouse Association and are guided to a large extent by their Standards of Almshouse Management documentation.
At the root of our Charity is the Charity of Richard Shepham, a wealthy London merchant who rebuilt the almshouses and adjacent grammar school in 1594. The original eight almshouses were founded by William Chester in 1476 by his will ‘as nigh the church of Stowe as can be had’ however they were in ruins by 1594. The present almshouses were rebuilt again in two blocks in the mid-19[th] century, one with six almshouses and the other, at right angles, with three. Some of the almshouses were quite small and, in 1968/9, the internal layouts were changed, reducing the number of almshouses, while increasing the area of each, to four in the larger block and to two in the smaller block, and renovating them all to the standards of the day. The trustees’ efforts today are applied to maintaining and further improving them.
Trustees
There are up to 9 trustees on the board, 1 ex-officio, 4 nominated by the local council and 4 co-optative members. There were 5 trustees in place at the end of the year, the ex-officio trustee position became vacant following the retirement of the Rector of St Edward’s Church in Stow-on-the-Wold and another trustee resigned to take up a post as a Town Councillor. Prospective trustees are being interviewed.
The trustees at the end of 2021 were: (Vacant awaiting new Rector) (Ex officio trustee and Chairman) Margaret Deacon (Nominated trustee and Chair) Julian Lucas (Co-optative trustee and Treasurer) Ronald McAlpine (Co-optative trustee and Secretary) Mike Curtis (Nominated trustee) Joanna Davies (Nominated trustee)
The trustees at the time of signing the 2021 accounts are: (Vacant awaiting new Rector) (Ex officio trustee and Chairman) Margaret Deacon (Nominated trustee) Julian Lucas (Co-optative trustee and Treasurer) Ronald McAlpine (Co-optative trustee and Secretary) Alexa Buffery (Nominated trustee)
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Stow-on-the-Wold Almshouse Charity
Mike Curtis (Nominated trustee) Desmond Watson (Co-optative trustee) Valerie Watson (Co-optative trustee) Residents
Eligibility of residents is dependent on their financial situation and on being resident in the parishes of Donnington, Maugersbury or Stow-on-the-Wold at the time of appointment, the latter condition may be waived under certain conditions. In 2021, the residents had a wide range of occupancy between 3 years and 42 years. All six almshouses were occupied throughout the year.
Almshouses
The majority of our income is from the weekly maintenance charge (WMC) levied on our residents. This is set to match budgeted expenditure in the year with periodic input from a local rent officer advising on a fair rent given the condition of the almshouses.
Accounts
This year’s accounts have been subject to independent scrutiny and prepared by Karen Lane-Stayt of Hillside Tax Solutions, then approved by the treasurer on behalf of the trustees.
Total income was £27,886 including a £1,000 grant from the Groundwork UK (Tesco Bags of Help) and a £1,000 grant from the Stow Parish Council. The garden/courtyard works delayed in 2020 have been completed in 2021, renewing the sewage and surface drainage, repaving, and defining individual spaces for each resident to sit out in. The property repairs and maintenance totalled £34,743 in 2021.
Cash in hand at the end of year is £20,527. The Charity also has the benefit of an Extraordinary Repair Fund placed with M&G Investments with a value of £18,656 at the end of 2021.
In 2002 the trustees will consider options on further improvements to the almshouses in 2022 and beyond.
Annual Report prepared on 22 June 2022 by:
………………………………………………
Ron McAlpine
Secretary, on behalf of the board of trustees of the Stow-on-the-Wold Almshouse Charity.
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Stow-on-the-Wold Almshouse Charity
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Stow on the Wold Almshouse Charity FINANCIAL STATEMENTS
YEAR ENDED 31 DECEMBER 2021
CONTENTS
Accountants' Report
Income and Expenditure Account Bank Account and Investment Summary
PAGE
ACCOUNTANTS' REPORT
to
Stow on the Wold Almshouse Charity
As described below you have approved the Financial Statements for the year ended 31 De set out on the attached pages. In accordance with your instructions, we have compiled th Financial Statements from the records and information and explanations supplied to us.
HILLSIDE TAX SOLUTIONS
Date: …………………
3 Rissington Road Bourton on the Water Cheltenham Glos. GL54 2AY
I approve these Financial Statements on behalf of the Trustees of the above name charity we have made available all the relevant records and information for their preparation.
………………………………….
Date: …………………
Page 1
ecember 2021 hese unaudited
………..
and confirm that
………..
Page 2
Stow on the Wold Almshouse Charity
REVENUE ACCOUNT FOR THE YEAR ENDED 31 DECEMBER 2021
2021 £
| INCOME Maintenance contributions No 1 No 2 No 3 No 4 No 5 No 6 Donations Common investment fund dividends Groundworks UK Grant Cotswold D C grant Stow Parish Council grant Sundry income (Garden funds) OPERATING EXPENSES Water, rates and heating N.A.A. Subscription Buildings Insurance Property repairs and maintenance Accountancy Ofice Supplies(petty cash) Web hosting Professional fees NET PROFIT |
-3 182 1,002 34,743 205 100 360 429 |
3,900 3,900 3,900 3,900 3,900 3,900 23,400 1,811 675 1,000 - 1,000 - 27,886 37,018 (9,132) |
-244 179 1,002 14,121 200 152 0 0 |
|---|---|---|---|
Page 2
2020 £
3,640 3,640 3,640 3,640 3,640 3,640
21,840
60
716
-
1,500 1,000
-
25,116
15,410
9,707
Page 3
Stow on the Wold Almshouse Charity
Bank Account and Investments Summary FOR THE YEAR ENDED 31 DECEMBER 2021
| £ Cash at bank January 2021 Add : Receipts Maintenance contributions 23400 Donations 1810.97 Common investment fund dividends 675.42 Grants 2000 27886.39 Less : Payments Water, rates and heating -3 N.A.A. Subscription 182 Buildings Insurance 1,002 Property repairs and maintenance 34,743 Accountancy 205 Ofice Supplies(petty cash) 100 Web hosting 360 Professionl fees 429 37,018 Cash at bank December 2021 Represented by: Current account COIF Charities deposit account Maintenance fees due (debtors) The National Association of Almshouses Common Investment Fund as at 31 December 2020 Income shares held Value of Shares Held |
£ 31,659 22,527 |
|---|---|
| 22,035 - 492 |
|
| 22,527 | |
| 20,467 | |
| £ 18,656.00 |
Page 2
21,893
21840 60 716.36 2500 25116.36
-244 179 1,002 14,121 200 152 0 0 15,410
31,600
31,659
- (59)
31,600
20,467
£ 17,114.51
Page 3
Stow on the Wold Almshouse Charity FINANCIAL STATEMENTS
YEAR ENDED 31 DECEMBER 2021
CONTENTS
Accountants' Report
Income and Expenditure Account Bank Account and Investment Summary
PAGE
ACCOUNTANTS' REPORT
to
Stow on the Wold Almshouse Charity
As described below you have approved the Financial Statements for the year ended 31 De set out on the attached pages. In accordance with your instructions, we have compiled th Financial Statements from the records and information and explanations supplied to us.
HILLSIDE TAX SOLUTIONS
Date: …………………
3 Rissington Road Bourton on the Water Cheltenham Glos. GL54 2AY
I approve these Financial Statements on behalf of the Trustees of the above name charity we have made available all the relevant records and information for their preparation.
………………………………….
Date: …………………
Page 1
ecember 2021 hese unaudited
………..
and confirm that
………..
Page 2
Stow on the Wold Almshouse Charity
REVENUE ACCOUNT FOR THE YEAR ENDED 31 DECEMBER 2021
2021 £
| INCOME Maintenance contributions No 1 No 2 No 3 No 4 No 5 No 6 Donations Common investment fund dividends Groundworks UK Grant Cotswold D C grant Stow Parish Council grant Sundry income (Garden funds) OPERATING EXPENSES Water, rates and heating N.A.A. Subscription Buildings Insurance Property repairs and maintenance Accountancy Ofice Supplies(petty cash) Web hosting Professional fees NET PROFIT |
-3 182 1,002 34,743 205 100 360 429 |
3,900 3,900 3,900 3,900 3,900 3,900 23,400 1,811 675 1,000 - 1,000 - 27,886 37,018 (9,132) |
-244 179 1,002 14,121 200 152 0 0 |
|---|---|---|---|
Page 2
2020 £
3,640 3,640 3,640 3,640 3,640 3,640
21,840
60
716
-
1,500 1,000
-
25,116
15,410
9,707
Page 3
Stow on the Wold Almshouse Charity
Bank Account and Investments Summary FOR THE YEAR ENDED 31 DECEMBER 2021
| £ Cash at bank January 2021 Add : Receipts Maintenance contributions 23400 Donations 1810.97 Common investment fund dividends 675.42 Grants 2000 27886.39 Less : Payments Water, rates and heating -3 N.A.A. Subscription 182 Buildings Insurance 1,002 Property repairs and maintenance 34,743 Accountancy 205 Ofice Supplies(petty cash) 100 Web hosting 360 Professionl fees 429 37,018 Cash at bank December 2021 Represented by: Current account COIF Charities deposit account Maintenance fees due (debtors) The National Association of Almshouses Common Investment Fund as at 31 December 2020 Income shares held Value of Shares Held |
£ 31,659 22,527 |
|---|---|
| 22,035 - 492 |
|
| 22,527 | |
| 20,467 | |
| £ 18,656.00 |
Page 2
21,893
21840 60 716.36 2500 25116.36
-244 179 1,002 14,121 200 152 0 0 15,410
31,600
31,659
- (59)
31,600
20,467
£ 17,114.51
Page 3