Registered Charity Number: 261373
The Hostel of the Good Shepherd
Trustees’ Report and Accounts
for the year ended 31 December 2021
The Hostel of the Good Shepherd
Report and Financial Statements
for the year ended 31 December 2021
| Contents | Page |
|---|---|
| Trustees and advisers | 3 |
| Trustees’ report | 4 - 5 |
| Independent examiner’s report | 6 |
| Notes to the accounts and statement | 7 |
| Receipts and payments account | 8 |
| Statement of assets and liabilities | 9 |
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The Hostel of the Good Shepherd
Trustees and Advisers
Trustees
The trustees are The Vicar and Churchwardens of St Margaret of Antioch Church, Fernhurst:
Reverend Nick Haigh Vicar Mrs M Oddi Churchwarden Other members Richard Workman Treasurer Mr Ken Newman Property Manager Mrs M Oddi Secretary
Professional advisers
The professional advisers to the charity are:
Independent Examiner: Mrs Imke Sanderson, FCCA 1 Chesholt Close Fernhurst Haslemere, Surrey GU27 3EB Bankers: Lloyds Bank plc 3 The Square Liphook GU30 7AE Principal address: Brown Hylda Hindhead Road Haslemere, Surrey GU27 1LR Charity Registered Number: 261373
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The Hostel of the Good Shepherd
Trustees’ Annual Report for the year ended 31 December 2021
Charity registered number
The charity is registered with the Charity Commissioners number 261373.
Governing document
The charity is governed by a trust deed dated 25 June 1935.
Aims and organisation
The buildings known as The Hostel of the Good Shepherd were erected by Owen Scripts Tudor in memory of his wife Elizabeth Tudor and administered on his death by Miss Catherine Tudor and Miss Alice Maud Tudor, his daughters. The almshouses trust known as ‘The Hostel of the Good Shepherd’ was set up by Miss C Tudor and Miss A M Tudor by means of a declaration dated 25 June 1935. They thereby vested land and buildings in Glebe Road, Fernhurst, West Sussex, known as ‘The Hostel of the Good Shepherd’ and land and buildings known as 1 and 2 The Laurels, Midhurst Road, Fernhurst, West Sussex.
The charity was gifted further property by Miss A M Tudor under her will in 1941 and Miss E Tudor in 1968.
The object of the charity is the maintenance of the almshouses for the use of the aged, without distinction of sex, class or creed and to hold other investments to generate income for the maintenance of the almshouses.
Property Management
Nos. 12 and 14 Glebe Road and 29 and 31 Midhurst Road (1 & 2 The Laurels) remained under the occupancy of the existing tenants throughout the period.
The 2021 Quinquennial survey was carried out in the autumn of 2021 and the surveyor’s report is awaited.
Financial position
The accounts of the charity are prepared on a receipts and payments basis. The year ended with a surplus of £19,982 (2020: £15,784). At the year-end COIF investment units were held at an open market value of £163,076 (2020: £142,817).
The Trustees continue to believe that the long term interests of the Trust are best served through their current investment in equities.
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The Hostel of the Good Shepherd
Notes to the Account and Statement
for the year ended 31 December 2021
1. Accounting Policies
a) Basis of preparation
These accounts have been prepared under the historic cost convention on a receipts and payments basis, except for investments, which are stated at market value, and in accordance with applicable accounting standards and the Statement of Recommended Practice on “Accounting and Reporting by Charities” as applicable to smaller charities and the Charities Act 2011.
b) Investments
Investments are stated at their open market value.
c) Freehold properties
The freehold properties which were gifted to the charity are not valued.
- d) Income and expenditure
All income and expenditure is accounted for gross and when received or incurred.
2. Investments
| 2021 |
2020 | ||
|---|---|---|---|
| Market Value | Market Value | ||
| £ | £ | ||
| Non-Monetary Investments | |||
| No. of Units Description | |||
| 4,055.25 | Charities Official Investment Fund income shares (2) | 83,402 | 73,041 |
| 3,874.01 | Charities Official Investment Fund income shares (1) | 79,674 | 69,776 |
| 7,929.26 | 163,076 | 142,817 | |
| Monetary Investments | |||
| Charities Official Investment Fund deposit account | 34,030 | 29,833 | |
| 197,106 | 172,650 |
3. Freehold Properties
The charity owns the following freehold properties which were gifted to the charity:
-
29 Midhurst Road, Fernhurst, Sussex
-
31 Midhurst Road, Fernhurst, Sussex
-
12 Glebe Road, Fernhurst, Sussex (Almshouses)
-
14 Glebe Road, Fernhurst, Sussex (Almshouses)
It is impractical for the trustees to estimate the value of the properties at the time of the gifts and therefore no value is placed on them in the accounts. Two of the properties are let to tenants on assured shorthold tenancy agreements and the others comprise the almshouses that are occupied rent-free. The insured value of the properties is now £748,476.
4. Transactions with trustees and connected persons
No trustees or connected person received any remuneration either directly or indirectly.
5. Trustee’s expenses
No amounts were paid to any trustees during the year in respect of expenses.
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The Hostel of the Good Shepherd
Receipts and Payments Account for the year ended 31 December 2021
| General Purposes Fund: Income Rent received Investment income Charities Official Investment Fund dividends Bank interest Total receipts Direct Charitable Expenditure: Living allowance Repairs and maintenance Improvements Water rates Gas and electricity Insurance Sundries Other expenditure Examiner's remuneration Total payments Receipts over payments for the year |
2021 £ £ 22,310 4,193 4 4,197 26,507 1,900 2,112 0 594 800 848 20 6,275 250 6,525 19,982 |
2020 | 2020 |
|---|---|---|---|
| £ 4,193 4 |
£ 3,535 70 |
£ 17,910 3,605 |
|
| 1,900 2,112 0 594 800 848 20 |
1,900 1,407 0 548 781 825 20 |
||
| 21,515 | |||
| 5,482 250 |
|||
| 5,732 | |||
| 15,784 |
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The Hostel ol the Good Shepherd statement ol Assets and Uabllltles 2021 2020 Hmed A$3elS 8uildin8 Impro¥ernenl AddrtiQn5 79236 79.236 79.236 Bank and cash bal•nces: Lloyds T5B Bank pk . Tre•surer's xc(wnl 32,110 34.030 16,325 66,140 145,376 46.158 125.394 Total for ieneTrl purposes lund Held fty Inv*stffl•nt WKPOses # mafk•t 163.076 142,817 U•bllltl flt doposlt held R•nt dwosll tr•nslerrnd to DPS 1.450 1,450 1.450 1,450 308.451 268.212 Funds m l J•nu•ry 2021 Incre•5e In lue ol kn¥estmenis Sufplus ol kncomt ¢>rtf e¥pendrtu 268.112 20.259 19.982 301,451 145.012 15,784 268.212 Approwd ty the tFU51eeson IF 202 Trustws: N Hal Mr5 M Oddi