**Stow-on-the-Wold Almshouse Charity**
## **Trustees Annual Report for the period 1 January 2022 to 31 December 2022.**
## **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
Over the course of 2022, there were several changes regarding personnel on the trustees of the Stow Almshouses. There were seven trustees in place at the end of the year. However, Margaret Deacon had announced that she would step down as Chair at the January 2023 Trustees’ Meeting and Ronald McAlpine also announced that he would be steeping down as Secretary and as a trustee at the January 2023 Trustees’ Meeting.
The trustees at the end of 2022 were: Alexa Buffery (Nominative trustee) Margaret Deacon (Nominative trustee and Chair) Julian Lucas (Co-optative trustee and Treasurer) Ronald McAlpine (Co-optative trustee and Secretary) Michael Moseley (Nominative trustee) Desmond Watson (Co-optative) 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
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**Stow-on-the-Wold Almshouse Charity**
conditions. At the start of 2022 the Almshouses were fully occupied, the residents had a wide range of occupancy between 3 years and 42 years. During the first Quarter of 2022 we lost three of our long-term residents to another social housing provider in Stow on the Wold. A fourth resident left the Almshouses upon finding alternative accommodation. Almshouses Income
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. The was raised by 6.7% in 2022.
## 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 £26,998. The Trustees took the opportunity to refurbish 4 of the properties during the periods they were vacant in 2022. The property repairs and maintenance totalled £31,904 in 2022, the vast majority being spent on these refurbishments. £5,000 was transferred from our M&G Extraordinary Repair Fund to cover a shortfall in the current account due to the expenditure required to refurbish four Almshouses for the new tenants. This £5000 was returned to the M&G Extraordinary Repair Fund in June 2023.
The trustees will consider options on further improvements to the Almshouses in 2023 and beyond.
## Annual Report prepared on 18 September 2023 by:
## Desmond Watson
Chair, 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**
## **FINANCIAL STATEMENTS**
## **YEAR ENDED 31 DECEMBER 2022**
|**CONTENTS**|**PAGE**|
|---|---|
|Accountants' Report|1|
|Income and Expenditure Account|2|
|Bank Account and Investment Summary|3|
**ACCOUNTANTS' REPORT**
to
Stow on the Wold Almshouse Charity
As described below you have approved the Financial Statements for the year ended 31 December 2022 set out on the attached pages. In accordance with your instructions, we have compiled these unaudited 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 and confirm that we have made available all the relevant records and information for their preparation.
………………………………….
Date: ………………………..
Page 1
**2022 £**
**2021 £**
## **Stow on the Wold Almshouse Charity**
## **REVENUE ACCOUNT FOR THE YEAR ENDED 31 DECEMBER 2022**
## **INCOME**
## **Maintenance contributions**
|No 1
No 2
No 3
No 4
No 5
No 6
Donations
Common investment fund dividends
Groundworks UK Grant
Stow Parish Council grant
**OPERATING EXPENSES**
Water, rates and heating
N.A.A. Subscription
Buildings Insurance
Property repairs and maintenance
Accountancy
Office Supplies(petty cash)
Web hosting
Professional fees
**NET PROFIT**|4,160
4,160
4,160
4,160
4,160
4,160
24,960
1,387
651
-
-
26,998
1,174
187
1,170
###
205
409
401
2749
38,199
(11,201)|-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)|
Page 2
## **Stow on the Wold Almshouse Charity**
## **Bank Account and Investments Summary FOR THE YEAR ENDED 31 DECEMBER 2022**
|**2022**
**£**
**Cash at bank January 2022**
Add : Receipts
Maintenance contributions
24,960.00
Donations
1,387.00
Common investment fund dividends
651.00
Withdrawn M&G
5,000.00
Grants
-
31,998.00
Less : Payments
Water, rates and heating
1,174
N.A.A. Subscription
187
Buildings Insurance
1,170
Property repairs and maintenance
31,904
Accountancy
205
Office Supplies(petty cash)
409
Web hosting
401
Professionl fees
2,749
38,199
Cash at bank December 2022
Represented by:
Current account
COIF Charities deposit account
Maintenance fees due (debtors)
The National Association of Almshouses Common Investment Fund
as at 31 December 2022
Income shares held
Value of Shares Held|**£**
22,527
16,326|**2021**
**£**
23,400.00
1,810.97
675.42
-
2,000.00
27,886.39
-3
182
1,002
34,743
205
100
360
429
37,018
|**£**
31,659
22,527|
|---|---|---|---|
||7,767
-
8,559||22,035
-
492|
||16,326||22,527|
||14,549||20,467|
||£ 13,021.00||£ 18,656.00|
Page 2
## **Stow on the Wold Almshouse Charity**
## **FINANCIAL STATEMENTS**
## **YEAR ENDED 31 DECEMBER 2022**
|**CONTENTS**|**PAGE**|
|---|---|
|Accountants' Report|1|
|Income and Expenditure Account|2|
|Bank Account and Investment Summary|3|
**ACCOUNTANTS' REPORT**
to
Stow on the Wold Almshouse Charity
As described below you have approved the Financial Statements for the year ended 31 December 2022 set out on the attached pages. In accordance with your instructions, we have compiled these unaudited 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 and confirm that we have made available all the relevant records and information for their preparation.
………………………………….
Date: ………………………..
Page 1
**2022 £**
**2021 £**
## **Stow on the Wold Almshouse Charity**
## **REVENUE ACCOUNT FOR THE YEAR ENDED 31 DECEMBER 2022**
## **INCOME**
## **Maintenance contributions**
|No 1
No 2
No 3
No 4
No 5
No 6
Donations
Common investment fund dividends
Groundworks UK Grant
Stow Parish Council grant
**OPERATING EXPENSES**
Water, rates and heating
N.A.A. Subscription
Buildings Insurance
Property repairs and maintenance
Accountancy
Office Supplies(petty cash)
Web hosting
Professional fees
**NET PROFIT**|4,160
4,160
4,160
4,160
4,160
4,160
24,960
1,387
651
-
-
26,998
1,174
187
1,170
###
205
409
401
2749
38,199
(11,201)|-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)|
Page 2
## **Stow on the Wold Almshouse Charity**
## **Bank Account and Investments Summary FOR THE YEAR ENDED 31 DECEMBER 2022**
|**2022**
**£**
**Cash at bank January 2022**
Add : Receipts
Maintenance contributions
24,960.00
Donations
1,387.00
Common investment fund dividends
651.00
Withdrawn M&G
5,000.00
Grants
-
31,998.00
Less : Payments
Water, rates and heating
1,174
N.A.A. Subscription
187
Buildings Insurance
1,170
Property repairs and maintenance
31,904
Accountancy
205
Office Supplies(petty cash)
409
Web hosting
401
Professionl fees
2,749
38,199
Cash at bank December 2022
Represented by:
Current account
COIF Charities deposit account
Maintenance fees due (debtors)
The National Association of Almshouses Common Investment Fund
as at 31 December 2022
Income shares held
Value of Shares Held|**£**
22,527
16,326|**2021**
**£**
23,400.00
1,810.97
675.42
-
2,000.00
27,886.39
-3
182
1,002
34,743
205
100
360
429
37,018
|**£**
31,659
22,527|
|---|---|---|---|
||7,767
-
8,559||22,035
-
492|
||16,326||22,527|
||14,549||20,467|
||£ 13,021.00||£ 18,656.00|
Page 2