2025-04-05-accounts

THE WILLIAM AND SARAH MIDGLEY ALMSHOUSES

TRUSTEES’ REPORT AND UNAUDITED FINANCIAL STATEMENTS
5 APRIL 2025

Contents
Legal and administrative details	1
Report of the Trustees	2 – 5
Trustees’ responsibilities	6
Report of the independent examiner	7
Statement of financial activities	8
Balance Sheet	9
Notes to the financial statements	10 – 13

M W DENTON

CHARTERED ACCOUNTANT

KEIGHLEY

THE WILLIAM AND SARAH MIDGLEY ALMSHOUSES

Legal and Administrative Information

The trustees present their annual report together with the financial
statements of the Charity for the year ended 5 April 2025.

Status:	Registered Charity No 260359	Registered Charity No 260359
Trustees:	Mr Michael Bottomley (Chairman)
	Reverend Peter S Wilson
	Mr David Richardson
	Reverend Liz Moy
	Mrs Maralyn Becker
	Ms Heidi Barnard
	Mrs Patricia Laycock (appointed 17.10.2024)
Principal address:	9 Norbreck Drive
	Cross Roads Keighley
	West Yorkshire BD22 9DT
Clerk	Mrs Debra Butterfield	Tel: [phone]
	9 Norbreck Drive
	Cross Roads Keighley
	West Yorkshire BD22 9DT
Bankers	National Westminster Bank plc
	63 North Street
	Keighley
	West Yorkshire BD21 3SB
Independent	M W Denton Tel:	[phone]
Examiner	29 Devonshire Street
	Keighley
	West Yorkshire BD21 2BH
Solicitors	AWB Charlesworth Solicitors Limited
	12-16 North Street
	Keighley
	West Yorkshire BD21 3SE

1

THE WILLIAM AND SARAH MIDGLEY ALMSHOUSES

Reportof the Trustees for theyear ended5 April 2025

The Trustees of the William and Sarah Midgley Almshouses present their annual
report and unaudited financial statements for the year ended 5 April 2024.

The Trustees have adopted the provisions of the Statement of Recommended Practice
(SORP) “Accounting and Reporting by Charities” (FRS 102) in preparing the annual
report and financial statements of the Charity. This is the treatment required by
the Housing SORP 2018 for registered social landlords which are also almshouses.
The financial statements have been prepared in accordance with the accounting
policies set out in notes to the accounts and comply with the Charity’s governing
document, the Charities Act 2011 and Accounting and Reporting by Charities:
Statement of recommended Practice applicable to charities preparing their
accounts in accordance with the Financial Reporting Standard applicable in the UK
and Republic of Ireland published in October 2019.

Structure, Governance and Management

Governing Document

The Charity is an unincorporated charitable trust registered with the Charity
Commission number 260359. 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 two special meetings, three ordinary meetings and one
extraordinary meeting in this financial year. The charity is the owner of six
Almshouses situated in 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.

Management

The day to day running of the Charity is delegated to the Clerk. The Clerk and the
Chairperson meet up regularly to review progress against targets and discuss any
issues that may have arisen.

Staff

The only paid staff is the Clerk who is self employed and is on call 24 hours a day, 7
days a week and works from home.

2

THE WILLIAM AND SARAH MIDGLEY ALMSHOUSES

Reportof the Trustees for theyear ended5 April 2025

Related Parties

The trustees consider The William and Sarah Midgley Charity to be a related party due
to it being controlled by the same trustees as the Almshouses.

Trustees

At a Special Meeting of the Trustees held on 11 July 2024 it was unanimously resolved
that Mr Michael Bottomley be appointed as Chairperson for the ensuing year.

At a Special Meeting of the Trustees held on 17 October 2024 it was proposed by
Reverend Liz Moy and seconded by David Richardson that Michael Bottomley be re-
appointed as a trustee for a term of five years and he signed 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 same meeting held on 17 October 2024 it was proposed by Reverend Peter Wilson
and seconded by Reverend Liz Moy that Patricia Laycock be appointed as a trustee for a
term of five years and she signed the declaration of acceptance and willingness to act
in accordance with the trusts of the Charity’s Scheme contained in the Minute Book.

Objects

Trustee confirmation – The Trustees acknowledge the guidance issued by the Charity
Commission in respect of our commitment to public benefit and we declare our
commitment to it.

The Charity was established to provide Almshouses for persons resident in the
neighbourhood of Lees cum Cross Roads Keighley West Yorkshire. In order to be
considered for accommodation applicants must meet certain criteria, which allows the
Charity to assess their needs.

Achievements and Performance

During the year various general repairs and maintenance were carried out at the
Almshouses. A noticeboard was erected in an easy accessible place for the public to
see on the Almshouse land, which displays any applicable notices, for example, notice
of how to apply for a grant, any available flats for occupancy and anything else if
and when necessary. The charity undertook the complete refurbishment of flat 1 in the
last financial year and this was concluded this year at a cost of £25,444. A conifer
tree at the rear of the property was having an impact on a neighbour’s property so the
decision was made to have the tree fel1ed and the stump removed at a cost of £354. The
boundary walls at the rear and west side of the property, in areas had to be stripped
and rebuilt with the addition of concrete footings making a total spend of £5,619.50.

Valuation Office Agency

The Clerk informed the trustees that she had applied for an equivalent fair rent on
No. 1 The Almshouses. The valuation had come back with an Equivalent Fair Rent of £110
per week and this was excluding gas, electricity and water charges.

3

THE WILLIAM AND SARAH MIDGLEY ALMSHOUSES

Reportof the Trustees for theyear ended5 April 2025

Weekly Maintenance Contributions (WMC)

At a meeting of the Trustees held on 17 October 2024 and in view of the fair rent
valuation report and after some discussion it was unanimously agreed that the
maintenance amount of the weekly maintenance contributions should increase by £8.
This would take the weekly maintenance contribution up to £128 per week broken
down as £90 maintenance contribution (including water rates) from £82 and £38
energy contribution. This was to commence on 1 January 2025. The Clerk wrote to
the residents to inform them of this decision.

Almshouse Insurance Policy

The insurance with Royal & Sun Alliance was renewed for three years commencing 30 June
2022.  The buildings including the Charity’s contents are insured for £1,800,000;

Accidental damage is not included nor is the Residents contents.  The Policy does not
include Terrorism. The Public Liability Indemnity Limit is £5million.

The Almshouse Policy is wide-ranging and provides an indemnity for Wrongful Acts by
the Trustees.  Where there is an allegation of negligence made by a third party the
policy will pay for, subject of course to all policy terms and conditions being
adhered to, defense costs and awards to a limit of £250,000 any one claim.  The
Policy must be current at the time of the allegation made against the Trustees or
indeed the Charity. The policy premium including insurance premium tax totalled
£1,626.98.

Financial Review

The Trustees’ aim is that income from the Weekly Maintenance Charge paid by the
residents covers the everyday maintenance costs associated with running the
Almshouses.

Investments

The results shown within these financial statements are in line with expectations of
the Trustees taking into consideration the current economic climate and the Trustees’
policy which is to invest in the range of low to medium risk investments which allows
for both income generation and longer term capital growth.

Reserves Policy

The trustees reviewed the Charity’s reserves Policy in November 2024.  The trustees
have decided that reserves in the range of £30,000 to £35,000 are required by the
Charity. This level has been set to cover nine months of recurring expenditure, any
unforeseen repairs and any rent voids between tenants. The balance on the unrestricted
reserves stands at £30,168.

Contribution to The Extraordinary Repair Fund (ERF). It was agreed that the Charity
contributed to the ERF this year and £3,834 was deposited into the fund.

Contribution to Cyclical Maintenance Fund (CMF). It was agreed that the Charity
contributed to the ERF this year and £6,264 was deposited into the fund.

4

THE WILLIAM AND SARAH MIDGLEY ALMSHOUSES

Reportof the Trustees for theyear ended5 April 2025

Reserves Policy

At a meeting of the Trustees held on 6 February 2025 the contribution to the CMF and
EFT for the next financial year was discussed. It was decided unanimously that there
would be no contribution to either fund due to the work being carried out at the
Almshouses

Plans for Future Periods

The Trustees will continue their policy of keeping the Almshouses in a good state
of repair both internally and externally to meet the criterion referred to in the
Decent Homes Standard and the Quinquennial Inspection Report carried out in
February 2022 of providing modern facilities and services.  The tarmacked area
will be redone as it now looks shabby and there are areas that are cracked. The
re-pointing of the front of the building was delayed and is due to be carried out
in the next financial year, then the whole building will have been repointed.
Talks are being carried out with regard to the sunken garden and will be brought
back to use in the next financial year.

___________________________
Michael D Bottomley
Chairperson

____________________
Date

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

Reportof the Independent Examiner tothe Trusteesof The William andSarah
Midgley Almshouses

I report to the charity trustees on my examination of the accounts of The William
and Sarah Midgley Almshouses for the year ended 5 April 2025, which are set out
on pages 10 to 13.

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.

I report in respect of my examination of the charity’s accounts carried out under
section 145 of the Act and in carrying out my examination I have followed all 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 giving me cause to believe that
in any material respect:

• accounting records were not kept in respect of the charity as required by section 130 of the Act; or

• the accounts do not accord with those records; or

• the accounts do not comply with the applicable requirements concerning the form and contents of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a “true and fair” view which is not a matter considered as part of an independent examination.

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

M W Denton
Chartered Accountant
29 Devonshire Street
KEIGHLEY
BD21 2BH

10 July 2025

7

THE WILLIAM AND SARAH MIDGLEY ALMSHOUSES

Statement of financial activities

Property Revenue account
for the year ended 5 April
	Unrest	Endow	Restric	Total	Total
	Ricted	ment	ted	Funds	Funds
	Funds	fund	fund	2025	2024
		£	£	£	£
Income
Contributions from residents
(note 2)	35,702	-	-	35,702	32,729
NAACIF	1,050	-	-	1,050	1,011
Bank interest received	408	-	-	408	591
	——————	——————	——————	——————	——————
Total income	37,160	-	-	37,160	34,331
	——————	——————	——————	——————	——————
Expenditure
Charitable activities
Electricity	2,784	-	-	2,784	4,513
Gas	3,316	-	-	3,316	2,949
Rates	-	-	-	-	206
Water rates	1,589	-	-	1,589	1,364
Insurance	1,752	-	-	1,752	1,404
Refurbishment of No. 1	-	-	-	-	25,444
Repairs and improvements	31,713	-	-	31,713	15,365
Garden maintenance	3,331	-	-	3,331	3,384
Audit and accountancy	420	-	-	420	420
Subscriptions	393	-	-	393	268
Secretarial fee	6,180	-	-	6,180	4,860
Administration fees	457	-	-	457	549
	——————	——————	——————	——————	——————
Total expenditure	51,935	-	-	51,935	60,726
	——————	——————	——————	——————	——————
Net income before investment
gains or losses	(14,775)	-	-	(14,775)	(26,395)
Gains on investments	-	-	-	-	-
	——————	——————	——————	——————	——————
Net income	(14,775)	-	-	(14,775)	(26,395)
Transfer between funds	(10,098)	-	10,098	-	-
Transfer between funds	10,000		(10,000)	-	-
	——————	——————	——————	——————	——————
Net movement in funds	(14,873)	-	98	(14,775)	(26,395)
Reconciliation of funds
Total funds brought forward	44,943	23,485	10,875	79,303	105,698
	——————	——————	——————	——————	——————
Total funds carried forward	30,070	23,485	10,973	64,528	79,303
	——————	——————	——————	——————	——————

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 Creditors: amounts falling due Withinone year Net current assets Net assets The Funds of the Charity Endowment Funds Restricted Funds Unrestricted funds Total Charity Funds	2025 2024 Note £ £ £ £ 5 8,553 8,553 6 44,098 40,264 —————— —————— 52,651 48,817 7 672 789 10,464 25,857 39 48 1,372 5,108 —————— —————— 12,547 31,802 8 670 1,316 —————— —————— 11,877 30,486 —————— ——————— 64,528 79,303 —————— ——————— 9 23,485 23,485 9 10,973 10,875 9 30,070 44,943 ——————— ——————— 64,528 79,303 ——————— ———————

These financial statements were approved by the Board of Trustees on 10 July 2025
and were signed on their behalf by:

M Bottomley

Trustee

9

Notestothe financial statements

THE WILLIAM AND SARAH MIDGLEY ALMSHOUSES

(formingpartof the financial statements)

1.Accountingpolicies

a) Basis of accounting

The William and Sarah Midgley Almshouses is an unincorporated Charity registered
in England and Wales. The address of the principal offices is given in the
Officers and Professional Advisers information on page 1 of these financial
statements. The nature of the Charity's operations and principal activities are
detailed within the Trustees' Annual Report.

The financial statements have been prepared in accordance with Accounting and
Reporting by Charities: Statement of Recommended Practice applicable to charities
preparing their accounts in accordance with the Financial Reporting Standard
applicable in the UK and Republic of Ireland issued in October 2019, applicable
in the UK and Republic of Ireland (FRS 102), the Charities Act 2011, the
Accounting Direction for private registered providers of social housing 2019 and
UK Generally Accepted Accounting Practice.

The financial statements have been prepared to give a "true and fair" view and
have departed from the Charities (Accounts and Reports) Regulations 2008 only to
the extent required to provide a "true and fair" view. This departure has
involved following the Accounting and Reporting by Charities: Statement of
Recommended Practice applicable to charities preparing their accounts in
accordance with the Financial Reporting Standard applicable in the UK and
Republic of Ireland (FRS 102) issued on 16 July 2014 rather that the Accounting
and Reporting by Charities: Statement of Recommended Practice effective from 1
April 2005 which has since been withdrawn.

The Charity meets the definition of a public benefit entity under FRS 102.
The accounts are prepared in accordance with the historical cost basis of
accounting.

b) Preparation of the accounts on a going concern basis

The financial statements have been prepared on a going concern basis as the
trustees believe that no material uncertainties exist. The trustees have
considered the level of funds held and the expected level of income and
expenditure for 12 months from authorising these financial statements. The
budgeted income and expenditure are sufficient with the level of reserves for the
charity to be able to continue as a going concern. The trustees have considered
the potential ongoing impact of the Covid - 19 pandemic and have concluded that
this will not affect the going concern status of the charity.

c) Income

All income is recognised once the Charity has entitlement to the income, there is
sufficient certainty of receipt, it is probable that the income will be received,
and the amount of income receivable can be measured reliably.
Income represents letting income and other service charges receivable from social
housing lettings included at their invoice value net of voids.
Donations or Grants are recognised when there is evidence of entitlement to the
gift, receipt is probable and the amount can be measured reliably. All income is
considered unrestricted unless specifically restricted by the donor or raised in
an appeal for a specific purpose.

Investment income is earned through holding assets for investment purposes such
as shares and land. It includes dividends and interest. Where it is not
practicable to identify investment management costs incurred within a scheme with
reasonable accuracy the investment income is reported net of these costs.

10

THE WILLIAM AND SARAH MIDGLEY ALMSHOUSES

Notes to the financial statements

(formingpartof the financial statements)

It is included when the amount can be measured reliably. Interest, dividend
and rent income are recognised once the Charity's right to receive payment
is established.

No amount is included in the financial statements for volunteer time in
line with SORP FRS (102)

Expenditure

Expenditure is recognised once there is a legal or constructive obligation
to make a payment to a third party, it is probable that settlement will be
required and the amount of the obligation can be measured reliably.
The William and Sarah Midgley Almshouses is not registered for Value Added
Tax (VAT). In these financial statements, where applicable, expenditure is
shown inclusive of VAT.

Impairment of freehold property

Reviews for impairment are carried out annually at the reporting date.
Impairment is recognised when the carrying value of an asset exceeds its
recoverable amount. Examples of indicators of impairment are a significant
decrease in the market value of the property or significant physical
damage.

Debtors

Trade and other debtors are recognised at the settlement amount due.
Prepayments are valued at the amount prepaid.

Investments

Investments are stated at cost at the balance sheet date.
Investments are held within fixed assets on the basis that they are held to
generate income in the longer term.

Cash

Cash at bank and in hand includes cash held in deposit accounts.

Creditors

Creditors are recognised where the Charity has a present obligation
resulting from a past event that will probably result in the transfer of
funds to a third party and the amount to settle the obligation can be
measured reliably.

Contingent Liabilities

A contingent liability will be disclosed if:

A possible obligation arising from a past event whose existence will be
confirmed only by some uncertain future event that is not wholly in control
of the Charity

A present obligation arising from a past event but where the transfer of
funds is not probable or the amount of the obligation cannot be measured
reliably.

Financial instruments

The Charity has financial assets and financial liabilities of a kind that
qualify as basic financial instruments. These are cash, creditors, and
debtors other than prepayments. Basic financial instruments are initially
measured at transaction value and subsequently measured at their
settlement rate.

11

THE WILLIAM AND SARAH MIDGLEY ALMSHOUSES

Notestothe financial statements

(formingpartof the financial statements)

Reserves

Unrestricted Reserves are funds available for use at the discretion of the
Trustees in furtherance of the general objectives of the Charity.

Restricted Reserves are funds for which the donor has specifically
restricted the purpose for which they can be used. The amounts in the funds
represent the monies still remaining for future expenditure
Endowment Reserves are a type of restricted fund and represent those assets
which must be held permanently by the Charity. Income arising on the
endowment funds can be used in accordance with the objectives of the
Charity. Any capital gain or loss arising on the endowments
form part of the Endowment Reserves.

Taxation

The Charity is considered to pass the tests set out in Paragraph 1 Schedule
6 of the Finance Act 2010 and therefore it meets the definition of a
charity for UK corporation tax purposes.

Accordingly, the Charity is potentially exempt from taxation in respect of
income or capital gains received within categories covered by Part 11,
chapter 3 of the Corporation Tax Act 2010 or Section 256 of the Taxation of
Chargeable Gains Act 1992, to the extent that such income
or gains are applied exclusively to charitable purposes.

2. Income from residents Gross income receivable from lettings Less: losses from voids	2025 £ 35,702 - —————— 35,702 ——————	2024 £ 35,152 2,423 —————— 32,729 ——————

3. Employee information

The average weekly number of persons employed during the year was nil:

Trustees	7	7
	——	——

The remuneration and expenses paid to the Trustees during the two years was
nil.

12

THE WILLIAM AND SARAH MIDGLEY ALMSHOUSES

Notes to the financial statements continued (forming part of the financial statements) 2025 4.Surplus on ordinary activities This is stated after charging: Independent Examiners remuneration 420 ——— 5. Fixed asset property at cost Almshouses at Lees, Keighley 8,553 —————	2024 420 ——— 8,553 —————

On 7 December 2022 a valuation of the properties was carried out giving a
market value of £510,000.

6. Fixed asset investments at cost
Charities Official Investment Fund –	546.35 units
(2013 - 546.35 units)			11,245		11,245
M & G Charity Multi Asset Fund Income Units
(25,930.706 units)			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
Charities Official Investment Fund –	676.43 units
(August 2022 – 676.43 units)			3,294		3,294
Charities Official Investment Fund –	742.534 units
(August 2024 – 742.534 units)			3,834		-
			——————		——————
			44,098		40,264
			——————		——————
Aggregate market value			186,683		186,156
			———————		——————
7. Debtors: amounts falling due withinone year
Prepayments			672		789
			———		———
8.Creditors: amounts falling due withinone year
Accruals			670		1,316
			—————		—————
9. Reserves
	Endowment		Restricted	Unrestri-
	Funds		Funds	cted Funds Total
		£	£	£		£
At 5 April 2024	23,485		10,875	44,943	79,303
Deficit for year		-	-	(14,775) (14,775)
Transfers between funds		-	98	(98)		-
	——————		——————	——————	———————
At 5 April 2025	23,485		10,973	30,070	64,528
	——————		——————	——————	———————

13