REG15Tf RED cHARy NUMOEA: 255180 REPORTOFTHÈ TRUSTEESAPID U14AUDITED HNANCIALsfATEME14T5 FOR THE YfAR EI4DED 30JU14E 2024 FOA FQTrIE8eY ALMSHOLISE tHARThlf5 DuD¢an & Toplls Limited 0eV House LSncoln Way Louth Lincolnshire LNII OLS
FOTHERBY ALMSHOUSÉ CHARITIES COP4TENT5 OF THE F114ANaAL STATÉMENrs FOR THE YEAR ENDEO ao JUNE 1014 Pai R•port otthe Tfustees Independent Examlner's ftoport ststsment of Flth•ndalActl¥lties 51alemerf of Flrt•n¢l•l Poshlon otes to the Flnanclal Stat¢m¢ntS 6 to 10 Deialled Statement of Flnanthl ACtItIl$ li
FOTHERBY ALMSHOLfsE CHARITIES REPORY OF YHE TRUSTEES FQR THf YEAR ENDED 30JIINÈ 2024 The trustees present their report with the financial statements of the charity for the year ended 30 lune 2024. The trusiees have adopted the provi5iQn5 of Accountln8 and Reportln8 by Charities.. Statèment of Recommended Practite applicable to charltles preparing their accounts in accordance wkh the Flnanclal Reportins Standard appllcable in the UK and Republlc of Ireland IFRS 1021 (effective l January20191. OBJECnVES ANDA1VITIEs 5I¥n6h¢antOrtllfjes The charitywa5 established by the late Everitt Allenby and endtswed by hini pursuant to hi5 provision of six almshouses In ihÈ paHsh ¢f Fotherby In the county of Lincolnshire, In 1867. The rrusres have since ttten continually maintained and ennanced their provi&on ot sheltered hou51n8 forthose quallfylng forthe stheme. In 2024the net galn on investments was £19,22912023'. net¥ain of £3,483>. Publlt benefft In the furtherance of the objectsof the ¢harty, the Trustees have had due Te8ard to Chariiy Commission Éeneral Ruidance on public benefit. FINANCIAL REWEW Aeserve5 poIIcy The Trustees feview the reserve levels of the charity annually. The charlly's level of free reserves at 30Jone 2024 w85 É246,508, a sum that has accumulat over manyyears. The reasoTr for reserves being accumulated is to provide sufficient worklng Cap81 to cover d4¥$ between 5p2nding and receipt of monies ènd to provide a cushion to deal wirh unexpEcted Issues suth as ur8ent rnainienance and renovation worl the cost of which ¢an be significant. STRucfuRE. GOVERP4APKE AND MANAGEMENT Gweinlni drfumeni The governing document of tfve chaiiy and It$1Snked bodies Is a scheme dated 22July 1969 as amended bya scheme dated 13 July 1992. Indu¢iion •nd Lralnln8 ol trusE5 The traillin8 and induction provided for new Trustees wlll depend on their existing eKperience. Where necessary, induct10n wlll provlde training on charity, le8al and financial matters. All new Trustee5 are gwen the opportunity of a visit to the Almshouses and the chance to meet with other Trustees. l Tru5tee5 are provided with copies of policies. proeedure5, minutes, account5, budgets, plans and other documents thét they will need to undertake thelr role as Trustee5. A5 there are normally few new Trustees a year, Induction terTrds to be done inforrnalty and Is tailored to the needs of rhe IndNldual. Wlder netWQTk The constituents Otthe Fotherby Almshouse Charides3re". FotherbyAlmshr>use5 IchaNty number 225280-11 FotherbyAlmshouses AllerTrby Endowment Icharlty number 225280-21 FotherbyAlm5hou5es Further Endowment Fund Icha1¥ number 225280-31 john Allenby Coal Fund l¢barlty number 225282-41 lottn Allenby Repair Fund (charity number 225280-51 john Allenby Beef and Flour Fund l¢harty number 225280-61 Rlsk manatement The trustees have a duty to Idtntlfy •nd revlew the risks to which the Gharlty 15 exposed and to ensur¢ opproprlatt conirols are Iii dLe tu provide reasonable assuranie against fraud and error. The Trustees have assessed the major risk5 to which the or8anisation Is exposed. In partlcularthose relating to the provision of facilities to Alm5per50ns and its finances. The Trustees have IMpmented a numbef of 5y5tems to a55 riski espeCIal In the operational areas le.K. In rela0 to property maintenance, and the health and safetyof Alm5per50n513nd in relatlon to the control of fSnance. Monitorfng systems and internal financi31 controls hawe been introduced and upheld in order to minimise risk. Where $18nifi¢ant financial rlsk stlll remain5. the Trustees have ensured ihey have adequaie Insurance cover. Page I
FOTHERBY ALMSHOUSE CHARmE5 RÉPORT OF THE TRUSTEE5 FOR THE YEAR ENDED IOJU14E 2024 REFERE14CE AND ADMINISTRATNE DETAILS Registered Ch•rlty thumb*r 255280 prInpaI address Mrj Crawford Lyndon Crescent Louth LNII OBJ Truste A 5 PrSd8eon C LakiDg H M stubbs M Thornalley T Hunter Mrsj Harrfs Mrs L Thompson Mr5 C Chen Indèpendeftt Ex•mlner Duncan & Toplis Limited Oxley House ncoln Way Louth Lincolnshire LNii OLS B•n&trs Lloyds Bank pl£ 24 Mercer Row Louth LNII OBJ Approved by orderof the board of trustees on..................... nd 5i8ned on it5 bEhalf bv.. Trustse Page 2
INDEPENDENT EXAMINER'S REPORTTOTHE TPU5TEES OF FOTHERBY ALMSHOUSE CNARITIE5 Independent examlner's report to theiwstees of FotherbyAlmshou5e tharltles I reporr to the ¢hartty trustees on my exarnination of the accountsof Fotherby m$hOuse Charltles ItheTrustl forthe yearended 30June 2024. Re5ponslbllltles and basis of ieport As rhe charity trustees of the Trust you are responsib forthe preparation ol the accounts In actordance with the re4ulrements of the Charities Act 20111'theAtti. I report in respect Of my examination of the Trust'5 accounts Carr out under Section 145 ol the Act and in carrwng out my exarnination I have lollowed all applicable Directions 8iven by thÈ Charity Commlsslon underSettion 14515llbl of the Act. emamihet's statement I have cornpleted my exarnination. I confirm that no materlal matters have come to my attentlon in connection with the examination 8Ning me cause to believÈ that In any material respect.. accounting record5 were not kept in respect of the Tru# as requlred by Section 130 of the Ait. or the accounts do noi a¢¢ord those reiord5,' or the accounts do not comply with the apICable requirements concernlng the form and Content of accounts set out in the Charities IAccount5 and Aeport51 Re8ulaiions 2008 other than any requlrement that the accounts give a true and fair view whith Is not a matter consldered as part of an Independentexamination. I have no iunierns and have come across no other matters in connection wlth the examlnatSon to which attention Should be dra%vn in this rert in order to enable a proper understandiDg of the account5 10 be reached. Rachel BarreTI IFCCAI Duncan & Toplls Llmited Oxley House ncoln Wav Louth LNII QLS Date.. Pa¥e 3
FQTHERBY ALMSHOUSE CHARITIES STATEMENT OF F114ANCIALAcnvinES Foft THE YEAR ENOED ao Jut4E 2024 2024 Total fund5 2023 Unrestricted fund Restrtcted fund fund5 Noies INCOME AP4D ENDOWMEPIT5 FROM Chatlt•ble a¢tlvétles Almspersons. maintenance and heatin8contrlbutions Inet of void5 of £Nill 26.257 26.257 23.515 Investment Income 2,933 2,933 2,567 Tot•1 29,190 29,190 26,082 EXPENDITURE ON Chaiitable •rtIe5 Alm5hou5e Costs 16,789 16.789 24,768 Net8ain5 on investrnents 19,229 19.229 3,483 NET INCOME 31,630 31.630 4.797 REC014CILIATION OÈ FUNDS Total funds bfought forward 214,878 435,000 649,878 645,Q81 TOTAL FUNOS CARRIED FORWARD 246,508 4a5,000 681,508 649,878 The notes fom partof these financial statements Page 4
FOTHERBY ALMSHOUSE CHAwnES STATEMENT OF FINANCIAL POSITION 30JLINE 2024 2024 2023 Total funds Unresiriaed fund Restritted fund fund5 Notes FIXEDASSETS Tangible assets Investments 1135,WO 435,(KKI 215.579 435.000 195,960 215,579 215,579 435,(MJU 630.Y60 CLIRRENT ASSETS Debtors Cash at bank 1,397 32,227 1,397 32,Z27 355 23,527 33,624 33,624 23,882 CREDITORS Amounts fallin8 due wlthin one year 12.6951 116951 14.9641 NETCURRENT SEr5 30,929 30,929 18.918 TOTALASSETS LESS OJRRENT LIABILmE5 246.508 435,COO 681,508 649.878 NET ASSETS 246,508 435.LV) 681,S08 649,878 FUN05 Unrestricted fvnds Restricted fund5 246.508 435,OLY) 214,878 435,WO TOTAL FVMDS 681,508 649,878 The f4nan¢lal statements were approved by the Board of Trustees and auihorised for15sue on it5 bEhalf bv.. IS oi. Zo* and were Signed on Ttee Trustee The notes form part of these linanciol staternents Page S
FOTHERBY ALMSHOUSE CKARITIE5 PKITESTO THE FINANCIAL sfATÉMENT5 fo THÉ YEAR ENDED JO JUNE 2024 ACCOUNnNG POLICIE5 B4s1s olprep•rl#¢ the flnanclal 5tat•m•nts The financial statements of the charlty. whlch 1$ 3 public benEfit entity under FAS 102, have been prepared in accordance with the Chadtle$ 50PP IFRS 1021'AccouiTrtin8 and Rewrtin8 by Charltles. Statement of RecommeDded Practice applicable to charitie5 preparlng the4r accounts in accordance with the Financlal Rtportlni Standard applicable in the UK and Republic of Ireland IFRS 1021 lemective I January 20191,, Finan¢l31 RèportinÈ Standard 102 'The Financial Reporting Standard applitable in the UK and Republic of Ireland, and rhe Chèrities Act 2011. The financial statements have been prepared under the historical c05t convention, with the exception of invesiinenis w#ich are Included at market value, as mo4ified bythÈ revaluation ot certain asset5. In¢ome All income is rero8nised In the Statement of Financial Actwitie5 once the charity has entitlement to the funds. It L% probable that the income will be re£e1¥ and the amount can be measured reliablv. Expenditurt Liabilitie5 are recognlsed as expenditure as 500n a5 there 15 a legal or constructlve obltqatlon commlttlnE the Charity to that expenditure, ti is probable that a transfer of economic benefits will be required in settlefnent and the amount of the obll8atioTh can be measured reliably. Expendffure Is •¢¢ounted for on an actruals basis and has been c135sifled under he&dlngs that aggregate all cost related ro the cate80ry. Where costs cannot be dlreetly attributed to particular headings thèy have been allocated to artiwties an bosls conslstent with the use of resource5. Tan8ible Ilxed a55ets Almshouses are rnaintained to such 3 standard that their resldual walue is tonsldered to be not le5S than their c05t or mosi recent valuation. Consequently no depreciation Is char8ed. Taxl¢n The charity is exempt frorn tax on its chantable actlvltles. Fund awivntlni Unresrrlcred lunds can be used in accordance with the charrtable obje¢tives at the dts¢retlon of thetyustees. Restricted funds can only be used for particular restricted purp05e5 Wlthin the objeas of the charlt¥. Restrlctlons arise when specified bythe donor orwhen fvnds are raised for particular restricted purposès. Further explanaiion of thè ftature and purpose of each fund is included in the notes to the flDanclal statements. INVESTMENT INCOME 2024 2023 Dlwldends 2.93a 2,567 TRUSTEES. REMUt4EKATION A140 BENEFITS There wert no tNstees' remuneration orotheTbenefit5 forthe year ended 30June 2024 norlorthe yearended 30June 1029. Trustees. expens¢s There were no trustee5' expense5 paid for the year ended 30June Z024 nor lor the year elided 30 Juiiv 2023. Page 6 contlnued...
FQTHERBY ALMSHOUSE CHARITIE5 NOTES TO THf FINANCIAL STATEMENTS-cohtlnued FOR THE YEAA ENOED ao JUNE 2024 COMPARATIVES FOR THESTATÉMENTOF FIP4ANCIALAcrivmES Unrestriued fund fund fvnds INCOMÉ AND ENDOWMENTS FROhl Cha¥ifable atth*hles m5per50ll5' maintenance and heatingcontrlbutlons (net of voids of ENill 23,515 23,515 Investment income 2,567 2.567 Toial 26,082 26,082 EXPENDITURE ON Chaflt•blt artivllies Almshouse Costs 24,768 24,768 Netgains on Investmenis 3,483 3,483 t4Ef INCOME 4,797 4,797 RÉCONCILIATION OF FUNDS Total funds brou8ht forward ZIO,081 435.cllo 645,081 YOTAL FUt4D5CARRIED FORWARD 214,878 435.(XlO 649.878 TANGIBLE FIXED A55ETS Freehold property Cosr At l July 2023 and 30June 2024 435,rrtA) NET BQOK VAiUE At 30June 2024 435,0(X) At 30June 2023 43S.OCrf) Pa¥e 7 tontinued...
FI)THERBY AiMSHOIISE CHARThIES NOTES TO THE FINAt4CIAL 5TATEMENTS-contlnued FOR THE YEAR ENDED 30JUNE 2024 FIXED ASSET INVESTMENTS Investments MARKETVALLIE At l July 2023 Additions Revèluations 195,960 390 19.229 At iujune iv24 Z15,57Y IIETBOOK VALUE At 30 june 2024 215,579 At 10 lune 2023 195,960 There were no investment assets outside the UK. CostorvaluatSon at 30 June 2024 ts represented by.. Investments Valuation in 2024 215,579 DE8TOIIS.. AMOUNTS FALLING DL¢E WITHIN ONE YEAR 2024 20Z3 Prepald expen5e5 1,397 355 CREOThO4S.. AMOUNTS FAiLING DUE WMIll ONE YEAR 2024 2023 Trade tredltors 2.695 4,964 MOVEMEIIT IN FUNDS Net movement sn funds At 30.6.24 At 1.7.23 Unrestrlrted funds General fund 214,878 31.630 246,508 Restrlded funds Restricted fund 435,0Th) 435,000 TOTAL FUNDS 649,878 31.630 681,508 Page 8 continued...
FOTHERbY ALMSHOUSE cARME5 NQTESTOTHE FINANCIAL SYATEM£NT5- ¢oDtlthued FOR THE YEAR ENOED JOJUNE 2024 MOVEMENT It4 FlJNDS-)y+tIhtd Net movement in fund5. included In the above ère asfollow5'. Incoming resources Resources expended GaSns and Movement in funds Unr¢st¥lrted fufjds fjeneral fufid 9,lYV 116,7891 19.219 31,630 TOTAL FUNDS 29,190 19,229 31,630 CafflpJratfve5for movemetht [• fund5 Net movement In funds At 30.6.23 At 1.7.2Z Llnre5trlcted fvnds General fund 210,081 4.797 214,878 flestrirttd lund5 esthcted fund 435.(K)O 435,CrfJO TOTAL FUNDS 645,081 4.797 649,878 comparative net movement in fund5, included in the above are as follows.. Incofflin8 resources Resources Èxpended Galns an Movement In funds Unresirfttedlunds General fund 26,08Z 124.7681 3,483 4,797 TOTAL FUNDS 26,082 124,7681 3,483 4,797 A current year 12 months and prbr year 12 months combined position Is as follows,. Net ovement in fund5 At 30.6.24 At 1.7.22 Unre5trlrtedfunds General fund 210.081 36,427 246.508 Re5trlct¢d funds Restricted fund 435.( 435,(XM) TOTAL FUNDS 645,081 36,427 681,508 Pa8e 9 continued...
FOTHERBY AiMSHOIJSÉ CHARITIES PIOTES TO THE FINANCIAISTATEMENTS- cantlnued R THE YEAR ENDED 30JIJNE 1024 MOVEMENT IN FUNDS. contlnued A current year 12 months and prior year 12 months combine(S net movèment In funds. Included In the above are as follows.. Incoming resources Re50urtts expended Galns and losses Movement in funds Un¥e$trided futr)ds fjeeral 141,5571 Z2,71Z 36,417 TOTAL FUNDS 55,272 141,5571 22.712 36.427 io. RELATED PARTY DISCLOSiJAÈS There were no lated party transadlons for the year ended 30June 2074. Pawe 10
FOTHERBY ALMSMOUSE CHARITIES DETAILED STATEMEPIT OF FIPIANCIAI ACTIVITIES FOR THE YEAR ENDED 30JUNE 2024 2024 20Z3 INCQMEAND EPIDOWMENTS Inv¢stm•nt In¢om• Omdends 2,933 2,567 Charltable •ctlvltle5 iontrityutions receivable Serwce charge receivable 15,117 11,140 14,4fj8 9.047 26,257 23.515 Total In¢gmln8f¥sfiiir 29,190 26,082 EXPENDITURE Ch•rltabl2 acllvltle5 Garden maintenance Repairs and maintenance Rates and water 1,647 1,592 1,452 928 434 1,758 7.740 1,331 1,020 308 250 949 6,780 Retainer fee Alarm system monltorin8 1.263 5,691 13,007 20,136 support#$ Othgr Clerk's salary and honorarlum Independentexaminer's fees lincludin8 VATI Sundries Post38e and staonery Subscriptions 1,2 2,040 74 45 423 1,2 2,732 14 638 3.782 4,63Z Total resources expended 16,789 24,768 Net Incor 12,401 1,314 ThSs pale does notform part ofthe statutory flnandal ststements Pagell