## **THE WILLIAM AND SARAH MIDGLEY ALMSHOUSES**
## **TRUSTEES’ REPORT AND FINANCIAL STATEMENTS**
## **5 APRIL 2021**
|**Contents**||
|---|---|
|**Legal and administrative details**|**1**|
|**Report of the Trustees**|**2 – 5**|
|**Trustees’ responsibilities**|**6**|
|**Report of the independent examiner**|**7**|
|**Income and expenditure account**|**8**|
|**Reconciliation of movement in accumulated fund**|**8**|
|**Balance Sheet**|**9**|
|**Notes to the financial statements**|**10 – 12**|
|**Property Revenue Account**|**13**|
|**General income and expenditure account**|**13**|
## **M W DENTON**
## **CHARTERED ACCOUNTANT**
**KEIGHLEY**
## **THE WILLIAM AND SARAH MIDGLEY ALMSHOUSES**
## **Legal and Administrative Information**
**The trustees present their report together with the financial statements of the Charity for the year ended 5 April 2021.**
**Status: Registered Charity No 260359 Housing Association No A0844 Trustees: J R Calvert Mrs A Arana Reverend P S Wilson David Richardson D Mahon (Re-elected 20.01.21) Reverend Liz Moy Michael Bottomley Principal address: 9 Norbreck Drive Crossroads Keighley West Yorkshire BD22 9DT Clerk: Mrs D Butterfield Tel: (01535)957927 9 Norbreck Drive Crossroads Keighley West Yorkshire BD22 9DT Bankers: National Westminster Bank plc 63 North Street Keighley West Yorkshire BD21 3SB Independent M W Denton Tel: (01535) 690190 Examiner 29 Devonshire Street Keighley West Yorkshire BD21 2BH**
**1**
## **THE WILLIAM AND SARAH MIDGLEY ALMSHOUSES**
## **Report of the Trustees for the year ended 5 April 2021**
**Structure, Governance and Management**
## **Governing Document**
**The William & Sarah Midgley Almshouses was founded by the Will of Joseph Midgley proved in the Principal Registry on 11 October 1935 and on 16 July 1974 the Charity Commission established a Scheme for the regulation of the Charity.**
## **Organisation**
**The body of Trustees shall consist when complete of seven competent persons who through residence, occupation or employment or otherwise have special knowledge of the locality of Lees and the neighbourhood thereof. Every future Trustee shall be appointed for a term of five years by a resolution of the Trustees passed at a Special Meeting of which not less than twenty one days’ notice has been given and may be so appointed not more than one month before the term of an existing Trustee expires with effect from the date of expiry but so that the latter shall not vote on the matter.**
**Any Trustee who is absent from all meetings of the Trustees during a period of one year or who is adjudged bankrupt or makes a composition or arrangement with his or her creditors or who is incapacitated from acting or who communicates in writing to the Trustees a wish to resign shall cease thereupon to be a Trustee.**
**The Trustees have held one Special Meeting and two Ordinary Meetings (one virtually due to the Covid pandemic) during the year. The Charity is the owner of six almshouses situate at Lees Keighley West Yorkshire. When there is a vacancy the Trustees try to find a resident of Lees cum Cross Roads suitable for appointment as an almsperson the length of time of residence being at the discretion of the Trustees. In special cases persons who do not possess the prescribed qualification as to residence may be appointed if otherwise qualified.**
## **Related Parties**
**The Charity has no related parties.**
## **Trustees**
**At a Special Meeting of the Trustees held on 19 August 2020 it was unanimously resolved that Mr Calvert be re-appointed as Trustee/Chairman for the ensuing year. Mr Calvert made the Trustees aware that this would be the last year he would stand as Chair and Trustee. He asked the Trustees to consider taking over this position from the next AGM in July 2021.**
**At a meeting of the Trustees held on 19 August 2020 the Chairman asked Mr David Mahon if he had any thoughts regarding being re-elected. David replied that he would be willing to stand again as a Trustee. On proposition of The Chair, Mr John Calvert, and seconded by Reverend Liz Moy it was resolved that Mr D Mahon would stand for the next five years. David to sign the declaration of acceptance and willingness to act in accordance with the trusts of the Charity’s Scheme contained in the minute book at the next meeting, which will be in the New Year, Covid permitting.**
## **Objects**
**The Charity was established to provide almshouses for persons resident in the neighbourhood of Lees cum Cross Roads Keighley West Yorkshire.**
**2**
## **THE WILLIAM AND SARAH MIDGLEY ALMSHOUSES**
**Report of the Trustees for the year ended 5 April 2021**
## **Achievements and Performance**
**During the year various general repairs and maintenance were carried out at the Almshouses. John Briedis has been undertaking work on the balustrades; two are back in situ with two more to attend to. Sadly, one of our residents passed away in November 2020. The flat needs some work doing in order to get it ready for the next resident. A new kitchen and painting and decorating are in the process of being done.**
**A Concessionary TV Licensing was granted for all residents. This means that those residents under the age of 75 are entitled to pay only £7.50 per year; paid by the resident, instead of the current £154.50.**
**The Landlord’s Gas Safety Check to comply with Gas Safety (Installation and Use) Regulations was carried out at six properties by John Stubbs at a cost of £360.00 on the 9 October 2020. At the same time a shock arrestor to the cold water pipe at No 5 was supplied and fitted at a cost of £45. The appropriate Landlord’s certificates were issued.**
**Warm Home Discount Scheme - The Clerk was able to apply for the £140 Warm Home Discount Scheme applicable to the electricity. The discount would be applied to the March’s electric bill 2021.**
**Mr Arco Suilichem continues to maintain the gardens at the Almshouses on a yearly contract.**
**The re-pointing of the back and both gable ends of the building was hoped to have been done in August 2020. Unfortunately due to the effects of the Corona Virus situation this was postponed until end of May, start of June 2021.**
## **Financial Review**
**The results shown within these financial statements are in line with expectations of the Trustees.**
## **Weekly Maintenance Contributions**
**The Clerk emailed copies of the Budget on 20 November 2020 based on the Almshouse Association Specimen Outline Budget which revealed a deficit of £112.00. It was decided unanimously that the WMC should increase by £5 per week. This now makes the WMC £90 per week including gas, electric and water rates. The Clerk informed the residents of this decision by letter.**
**3**
## **THE WILLIAM AND SARAH MIDGLEY ALMSHOUSES**
## **Report of the Trustees for the year ended 5 April 2021**
## **Reserves Policy**
**The Extraordinary Repair Fund (ERF) is a reserve fund for future major expenditure, to which transfers are made from the Income and Expenditure Account and is normally invested in accumulation shares preferably in a Common Investment Fund. It can be drawn upon to meet major items of repair by application to the fund managers without the prior consent of the Charity Commission. In view of the amount of money needed for the re-pointing of the building and the refurbishment of the balustrades the Trustees agreed that no contribution to the ERF should be made this year.**
**Contribution to Cyclical Maintenance Fund (CMF). This fund, to which transfers are made from the Income and Expenditure Account, is retained by the trustees to meet maintenance occurring at regular intervals eg internal (refurbishing kitchens and bathrooms), external redecoration and the cost of professional fees such as for the Quinquennial Inspections. Again, in view of the amount of money needed for the re-pointing of the building and the refurbishment of the balustrades the Trustees agreed that no contribution to the ERF should be made this year.**
## **Investments**
**The results shown within these financial statements are in line with expectations of the Trustees** .
## **Almshouse Insurance Policy**
**The insurance with Royal & Sun Alliance was renewed for twelve months commencing 30 June 2020. The buildings including the Charity’s contents are insured for £1million and Accidental damage is not included nor are the Residents contents. The Policy does not include Terrorism. The Public Liability Indemnity Limit is £5million. The indemnity limit is set at a standard £100,000 and a Schedule noting the inclusion of this section and the full wording which applies has been provided by Royal & Sun Alliance and retained with the policy documents. The policy premium including insurance premium tax totalled £1,004.96.**
**The Clerk applied to the insurance to claim for vehicle damage to the boundary wall. This was granted and the Charity was able to claim £650 for the damage to be repaired by Hayden Reddihough; excess was £100.**
## **Hayden Reddihough was commissioned to rebuild further damage to the boundary walls**
**at a cost of £1050. Total paid to Hayden was £1,800.**
## **THE WILLIAM AND SARAH MIDGLEY ALMSHOUSES**
**Report of the Trustees for the year ended 5 April 2021**
## **Plans for Future Periods**
**The Trustees will continue their policy of keeping the Almshouses in good state of repair both internally and externally to meet the criterion referred to in the Decent Homes Standard and the April 2017 Quinquennial Inspection Report of providing modern facilities and services.**
**J R Calvert**
**Chairman**
**4**
**29 April 2021**
**5**
## **THE WILLIAM AND SARAH MIDGLEY ALMSHOUSES**
## **Trustees’ responsibilities**
## **In respect of the preparation of financial statements**
**Under the trust deed and rules of the Charity, the Trustees are required to prepare accounts for each financial year which properly present the state of affairs of the Charity and of the excess of income over expenditure. In preparing those financial statements, the Trustees are required to:**
- **select suitable accounting policies and apply them consistently;**
- **make judgements and estimates that are reasonable and prudent; and**
- **prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Charity will continue its activities.**
**The Trustees are required to act in accordance with the Trust deed and rules of the Charity, within the framework of the Trust law. They are responsible for keeping proper accounting records. They are also responsible for safeguarding the assets of the Charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.**
**6**
## **THE WILLIAM AND SARAH MIDGLEY ALMSHOUSES**
## **Report of the Independent Examiner to the Trustees of The William and Sarah Midgley Almshouses**
**I report on the accounts of The William and Sarah Midgley Almshouses for the year ended 5 April 2021, which are set out on pages 7 to 12.**
## **Respective responsibilities of Trustees and 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 of the Charities Act 2011 (the Charities Act) and that an independent examination is needed.**
**It is my responsibility to:**
- **examine the accounts under section 145 of the Charities Act;**
- **to follow the procedures laid down in the General Directions given by the Charity Commission (under section 145(5)(b)of the Charities Act), and**
- **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 Charity 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 no opinion is given as to whether the**
## **accounts present a “true and fair” view and the report is limited to those matters set out in the statement below.**
## **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:**
- **to keep accounting records in accordance with section 130 of the Charities Act; and**
- **to prepare accounts which accord with the accounting records and comply with the accounting requirements of the Charities 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.**
**M W Denton Chartered Accountant 29 Devonshire Street KEIGHLEY BD21 2BH**
**29 April 2021**
**7**
|**THE WILLIAM AND SARAH MIDGLEY ALMSHOUSES**
**Income and expenditure account**
**for the year ended 5 April**
**Note**
**£**
**Turnover 2**
**Operating costs**
**Direct property management**
**Administrative costs**
**Operating surplus**
**Interest receivable and other income 4**
**Surplus on ordinary activities**
**Transfer (to) from designated reserves**
**Revenue reserve brought forward**
**Revenue reserve carried forward**|**2021**
**£ £**
**25,092**
**(19,057)**
**(3,713)**
**——————**
**2,322**
**938**
**——————**
**3,260**
**-**
**——————**
**3,260**
**73,112**
**——————**
**76,372**
**——————**|**2020**
**£**
**26,520**
**(17,085)**
**(3,096)**
**——————**
**6,339**
**1,221**
**——————**
**7,560**
**(2,000)**
**——————**
**5,560**
**67,552**
**——————**
**73,112**
**——————**|
|---|---|---|
**There are no recognized gains or losses other that the surplus for the current and preceding years.**
## **Reconciliation of movement in accumulated funds for the year ended 5 April**
|**Surplus for the year**|**3,260**|**7,560**|
|---|---|---|
|**Accumulated funds brought forward**|**98,790**|**91,230**|
||**———————**|**——————**|
|**Accumulated funds carried forward**|**102,050**|**98,790**|
||**———————**|**——————**|
## **8**
## **THE WILLIAM AND SARAH MIDGLEY ALMSHOUSES**
|**Balance sheet as at 5 April**
**Tangible fixed assets**
**Freehold property at cost**
**6 Almshouses at Lees, Keighley**
**Investments at cost**
**Current assets**
**Debtors**
**Bank current account**
**Cash in hand**
**COIF Charities deposit fund**
**——————**
**57,032**
**Creditors: amounts falling due**
**Within one year**
**——————**|**2021**
**2020**
**Note**
**£ £ £ £**
**6**
**8,553**
**8,553**
**7**
**36,970**
**36,970**
**——————**
**——————**
**45,523**
**45,523**
**8**
**587**
**1,187**
**19,702**
**15,863**
**23**
**26**
**36,720**
**36,720**
**——————**
**53,796**
**9**
**505**
**529**
**——————**|
|---|---|
|**Net current assets**||**56,527**||**53,267**|
|---|---|---|---|---|
||**———————**||**——————**||
|**Net assets**||**102,050**||**98,790**|
||**———————**||**——————**||
|**Capital and reserves**|||||
|**Trust capital 10**||**18,097**||**18,097**|
|**Designated reserves 10**||**7,581**||**7,581**|
|**Revenue reserves 10**||**76,372**||**73,112**|
||**———————**||**——————**||
||**102,050**||**98,790**||
||**———————**||**——————**||
**These accounts were approved by the Trustees on 29 April 2021 and were signed on their behalf by:**
## **J Calvert**
## **Trustee**
**9**
## **THE WILLIAM AND SARAH MIDGLEY ALMSHOUSES**
## **Notes to the financial statements**
**(forming part of the financial statements)**
## **1. Principal accounting policies**
**The following accounting policies have been used consistently in dealing with items which are considered material in relation to the Charity’s accounts.**
## **Basis of preparation**
**The accounts have been prepared under the historical cost convention, in accordance with applicable accounting standards, the accounting requirements for Registered Social Landlords General Determination 1997 and 1998 and the Statement of Recommended Practice for Registered Housing Associations (SORP).**
## **Depreciation**
**Depreciation of freehold property is not considered necessary as the estimated remaining life is in excess of 50 years and, as it is the Trustees’ policy to maintain the property in good condition, which prolongs its useful life, any depreciation involved would not be material. The Trustees consider the market value of the property to be in excess of the amount shown in the accounts.**
## **Repairs and renewals**
- **a)Routine repairs and renewals. These are written off against income as they are incurred.**
- **b) Extraordinary repair reserve. This reserve fund has been established for the purpose of providing for the extraordinary repair, improvement or rebuilding of the Almshouses. Any amounts standing to the credit of this fund may be applied from time to time for the extraordinary repair, improvement or rebuilding of the Almshouses.**
## **Turnover**
**Turnover represents income receivable in respect of the association’s properties.**
|**2. Turnover**
**Gross income receivable from lettings**
**Less: losses from voids**|**2021**
**£**
**27,038**
**1,946**
**——————**
**25,092**
**——————**|**2020**
**£**
**26,520**
**——————**
**26,520**
**——————**|
|---|---|---|
## **3. Employee information**
**The average weekly number of persons employed during the year was:**
**Trustees 7 ——**
## **The remuneration paid to the Trustees of The William and Sarah Midgley Almshouses was £NIL**
## **10**
## **THE WILLIAM AND SARAH MIDGLEY ALMSHOUSES**
|**Notes to the financial statements continued**|||
|---|---|---|
|**(forming part of the financial statements)**|||
||**2021**|**2020**|
|**4. Interest receivable and similar income**|||
||**£**|**£**|
|**Donations**|**-**|**100**|
|**NAACIF dividends**|**908**|**908**|
|**Bank interest receivable**|**30**|**213**|
||**—————**|
**—————**|
||**938**|**1,221**|
||**—————**|**—————**|
|**5. Surplus on ordinary activities**|||
|**This is stated after charging:**|||
|**Independent Examiners remuneration**|**360**|**360**|
||**———**|**———**|
|**6. Fixed asset property at cost**|||
|**Almshouses at Lees, Keighley**|**8,553**|**8,553**|
||**—————**|**—————**|
|**On 7 November 2017 a valuation of the properties was carried**||**out giving a**|
|**market value of £510,000.**|||
|**7. Fixed asset investments at cost**|||
|**Charities Official Investment Fund**|||
|**546.35 units (2013 546.35 units)**|**11,245**|**11,245**|
|**National Association of Almshouses**|||
|**25,930.706 units Common Investment Fund**|**15,725**|**15,725**|
|**Charities Official Investment Fund – 22.42 units**|||
|**(December 2012 – 22.42 units)**|**2,000**|**2,000**|
|**Charities Official Investment Fund – 26.15 units**|||
|**(January 2015 – 26.15 units)**|**3,000**|**3,000**|
|**Charities Official Investment Fund – 25.32 units**|||
|**(December 2015 – 25.32 units)**|**3,000**|**3,000**|
|**Charities Official Investment Fund – 11.00 units**|||
|**(August 2019 – 11.00 units)**|**2,000**|**2,000**|
||**——————**|**——————**|
||**36,970**|**36,970**|
||**——————**|**——————**|
|**Aggregate market value**|**152,775**|**129,041**|
||**———————**|**——————**|
|**8. Debtors: amounts falling due within one year**|||
|**Prepayments**|**587**|**1,187**|
||**—————**|**———**|
|**9. Creditors: amounts falling due within one year**|||
**Accruals 505 529 ——— ———**
**11**
## **THE WILLIAM AND SARAH MIDGLEY ALMSHOUSES**
## **Notes to the financial statements continued (forming part of the financial statements)**
## **10. Reserves**
|**10. Reserves**|||||
|---|---|---|---|---|
|||**Extra**|**Income**||
|||**Ordinary**|**and**||
||**Trust**|**repair**|**expendi-**||
||**Capital**|**reserve**|**ture**|**Total**|
||**£**|**£**|**£**||
|**At 5 April 2020**|**18,097**|**7,581**|**73,112**|**98,790**|
|**Surplus for year**|**-**|**-**|**3,260**|**3,260**|
|**Transfer**|**-**||**()**||
||**——————**|**—————**|**——————**|**———————**|
|**At 5 April 2021**|**18,097**|**7,581**|**76,372**|**102,050**|
||**——————**|**—————**|**——————**|**———————**|
## **11. Legislative provision**
**The William and Sarah Midgley Almshouses is a registered charity.**
**12**
## **THE WILLIAM AND SARAH MIDGLEY ALMSHOUSES**
|**Property Revenue account**
**for the year ended 5 April**
**2021**
**£ £ £**
**Income**
**Contributions received from residents**
**25,092**
**Expenditure**
**Electricity**
**2,574**
**2,063**
**Gas**
**4,436**
**3,882**
**Water rates**
**2,016**
**1,356**
**Insurance**
**1,022**
**1,062**
**Quinquenial work**
**-**
**4,250**
**Repairs and improvements**
**5,841**
**1,799**
**Garden maintenance**
**2,628**
**2,145**
**Audit and accountancy**
**360**
**360**
**Subscriptions**
**180**
**168**
**——————**
**——————**
**19,057**
**17,085**
**Administration fees**
**3,713**
**3,096**
**——————**
**——————**
**22,770**
**——————**
**Surplus for the year**
**2,322**
**——————**
**General income and expenditure account**
**for the year ended 5 April**
**Income**
**Donation**
**-**
**NAACIF**
**908**
**Bank interest receivable**
**30**
**—————**
**Surplus of income over expenditure for the year**
**3,260**
**—————**|**2020**
**£**
**26,520**
**20,181**
**——————**
**6,339**
**——————**
**100**
**908**
**213**
**—————**
**1,221**
**—————**|
|---|---|