2023-03-31-accounts - Metropolitan Benefit Societies' Almshouses

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	Pages
Trustees' Annual Report
Auditor's Report
Statement of Financial Activities
Balance Sheet	10
Notes to the Accounts
Detailed Statement of Financial Activities	19to 20

forthe year end	ed 31March 2	023
			Unrestricte	Restricted
			d funds	funds	Total funds	Total funds
			2023	2023	2023	2022
		Notes	E	f	E	E
Income and endowments
from:
Donations and	legacies					51
Other trading	activities		255,840		255,840	255,840
Investments			2,199		2,199	45
Other			487		487	870
Total			258,526		258,526	256,806
Expenditure on:
Raising funds			35,355		35,355	34,520
Other			305,457		305,457	283,572
Total			340,812		340,812	318,092
Net gains on investments
Net expenditure			(82,286)		(82,286)	(61,286)
Transfers between funds				1,398	1,398
Net expenditure gains/(losses)	before other		(82,286)	1,398	(80,888)	(61,286)
Other gains and	losses:
Net movement	in funds		(82,286)	1,398	(80,888)	(61,286)
Reconciliation offunds:
Total funds brought forward			92,873	9,547,940	9,640,813	9,681,304
Total funds carded forward			10,587	9,549,338	9,559,925	9,620,018

The Metropolitan Be BAlANCE SHEET at 31March 2023	The Metropolitan Be BAlANCE SHEET at 31March 2023	nefit Societies Almshouses
Charity No. 293247				2023	2022
				E	6
Fixed assets
Tangible assets			11	9,123,672	9,197,656
investments			12	225,708	224,310
				9,349,380	9,421,966
Current assets
Debtors			13	7,204	21,769
Cash at bank and		in hand		246,390	236,837
				253,594	258,606
Creditors: Amount	falling due within one year		14	(43,049)	(39,759)
Net current assets				210,545	218,847
Total assets less current liabilities				9,559,925	9,640,813
Net assets excluding		pension asset or liability		9,559,925	9,640,813
Total net assets				9,559,925	9,640,813
The funds ofthe chadty
Restricted funds			15
Restdcted income		funds		9,549,338	9,547,940
				9,549,338	9,547,940
Unrestricted funds			15
General funds				10,587	92,873
				10,587	92,873
Reserves			15
Totalfunds				9,559,925	9,640,813
Approved by the trustees on 15March 2024

Fund accoun	Fund accoun	ting
Unrestricted		funds	These are available for use at the discretion ofthe trustees in furtherance			ofthe
			general objects ofthe charity.
Designated		funds	These are unrestricted funds earmarked by the trustees	for particular purposes.
Revaluation		funds	These are unrestricted funds which include a revaluation	reserve representing
			the restatement ofinvestment assets at their market values.
Restricted	funds		These are available for use subject to restrictions imposed by the donor		or
			through terms of an appeal.
Income
Recognition		of	Income is included in the Statement of Financial Activities (SoFA) when		the
income			charity becomes entitled to, and virtually certain to receive, the income		and		the
			amount ofthe income can be measured with sufficient	reliability.
Income with		related	Where income has related expenditure the income and	related expenditure			is
expenditure			reported gross in the SoFA.
Donations	and		Voluntary income received by way ofgrants, donations	and gifts is included			in
legacies			the the SoFAwhen receivable and only when the Charity has unconditional
			entitlement to the income.
Tax reclaims		on	Income from tax reclaims is included in the SoFA at the	same time as the
donations	and gifts		gift/donation to which it relates.
Donated services			These are only included in income (with an equivalent amount in expenditure)
and facilities			where the benefit to the Charity is reasonably quantifiable, measurable		and
			material.
Volunteer	help		The value of any volunteer help received is not included	in the accounts.
Investment		income	This is included in the accounts when receivable.
Gains/(losses) on			This includes any gain or loss resulting from revaluing investments to market
revaluation		offixed	value at the end ofthe year.
assets
Gains/(losses) on			This includes any gain or loss on the sale ofinvestments.
investment		assets

2 Statement of Financial	Activities - prior year
		Unrestricte	Restricted	Total
		d funds	funds	funds
		2022	2022	2022
Income and endowments	from:
Donations and legacies		51		51
Other trading activities		255,840		255,840
Investments		45		45
Other		870		870
Total		256,806		256,806
Expenditure on:
Raising funds		34,520		34,520
Other		283,572		283,572
Total		318,092		318,092
Net income		(61,286)		(61,286)
Transfers between funds		(429,885)	450,680
Net income before other
gains/(losses)		(491,171)	450,680	(40,491)
Other gains and losses:
Net movement in funds		(491,171)	450,680	(40,491)
Reconciliation offunds:
Total funds brought forward		584,044	9,097,260	9,681,304
Total funds carried forward		92,873	9,547,940	9,640,813
3 Income from donations	and legacies
			Total	Total
			2023	2022
			f
Donations				51
				51

Incom	e from other trading activities	Unrestricte
			Total	Total
			2023	2022
Rent-	flats	193,965	193,965	202,600
Rent-	villas	26,520	26,520	18,720
Voids		35,355	35,355	34,520
		255,840	255,840	255,840

Income	fro	m investments
			Unrestricte
				Total	Total
				2023	2022
			f	f	f
Investment		income	1,148	1,148	28
Deposit	account interest		1,051	1,051	17
			2,199	2,199	45
Other income
			Unrestricte
				Total	Total
				2023	2022
			f	f	f
Laundry	income		487	487	870
			487	487	870
Expenditure		on raising funds
			Unrestricte
			d	Total	Total
				2023	2022
Fandraising		trading costs
Voids			35,355	35,355	34,520
			35,355	35,355	34,520

8	Other expenditure
					Unrestricte
						Total	Total
						2023	2022
	Employee costs				94,614	94,614	92,062
	Motor and travel costs						45
	Premises costs				110,474	110,474	98,759
	Amortisation, depreciation,
	impairment, profit/loss		on		73,985	73,985	75,436
	disposal offixed assets
	General administrative		costs		10,512	10,512	4,706
	Legal and professional		costs		15,872	15,872	12,564
					305,457	305,457	283,572
9	Net expenditure before transfers
					2023		2022
	This is stated after charging:				E		E
	Depreciation ofowned		fixed assets		73,985		75,436
10	Staff costs
	Salaries and wages				87,430		84,736
	Social security costs				5,063		5,253
	Pension costs				2,121		2,073
					94,614		92,062
	No employee received		emoluments	in excess off60,000.
	The average monthly	number offull		time equivalent
	employees during the	year was as follows:
					2023		2022
					Number		Number
	Administration
	Warden

			Land and	Fixtures &
			buildings	fittings	Total
				f	E
	Cost or revaluation
	At 1April 2022		10,200,000	66,081	10,266,08 1
	At 31March	2023	10,200,000	66,081	10,266,08 1
	Depreciation	and
	impairment
	At 1April 2022		1,005,196	63,228	1,068,424
	Depreciation	charge for the
	year		72,404	1,581	73,985
	At 31March	2023	1,077,600	64,809	1,142,409
	Net book values
	At 31March At31March	2023 2022	9,122,400 9,194,804	1,272 2,853	9,123,672 9,197,657
12	Investments
				Other
				investment
				s - Listed	Total
				E	E
	Cost or revaluation
	At 1April 2022			224,310	224,310
	Revaluation At31March	2023		1,398 225,708	1,398 225,708
	Net book values
	At 31March At31March	2023 2022		225,708 224,310	225,708 224,310
13	Debtors
			2023		2022
			E		f
	Trade debtors		3,974		6,251
	Other debtors		1,062
	Prepayments	and accrued income	2,168		15,518
			7,204		21,769

The Metropolitan Benefit Societies Almshouses NOTES TO THE ACCOUNTS 14 Creditors:	The Metropolitan Benefit Societies Almshouses NOTES TO THE ACCOUNTS 14 Creditors:	The Metropolitan Benefit Societies Almshouses NOTES TO THE ACCOUNTS 14 Creditors:	The Metropolitan Benefit Societies Almshouses NOTES TO THE ACCOUNTS 14 Creditors:
amounts falling due within one year
					2023		2022
					E		E
Trade creditors					21,541		11,840
Other taxes and social security Other creditors					2,617		6,393 446
Accruals and deferred income					18,891		21,080
					43,049		39,759
15 Movement in funds
				Incoming
		At 1April		resources (including other	Resources expended	Gross transfers	At 31 March 2023
			2022	gains/losses)
				f
Restricted funds:
Restricted income funds:
Revaluation reserve		9,547,940				1,398	9,549,338
Total		9,547,940				1,398	9,549,338
Unrestricted funds:
General funds			92,873	258,526	(340,812)		10,587
Revaluation Reserves:
Total funds		9,640,813		258,526	(340,812)	1,398	9,559,925
Purposes and restrictions	in relation		tothe funds:
Restricted funds:
Revaluation reserve		Land and buildings
16 Analysis ofnet assets between		funds

Analysis ofnet assets between funds
	Unrestncte	Restricted
	d funds	funds
	E	E	E
Fixed assets	1,272	9,122,400	9,123,672
Investments	225,708		225,708
Net current assets	144,633	65,912	210,545
	371,613	9,188,312	9,559,925

Annual co	mmitments under non-cancellable	operating leases ar	e as follows:
		2023	2023	2022	2022
		Land and buildings	Other	Land and buildings	Other
		f		E
Operating	leases with expiry date:
Pension commitments
			2023		2022
			E		E
The pension cost charge to the charity
amounted	to:		2,121		2,073

			Unrestricted	Restricted	Total	Total
			funds	funds	funds	funds
			2023	2023	2023	2022
			f	f	f	f
Income and endowments		from:
Donations and legacies
Donations						51
						51
Other trading activities
Rent- flats			193,965		193,965	202,600
Rent- villas			26,520		26,520	18,720
Voids			35,355		35,355	34,520
			255,840		255,840	255,840
Investments
Investment income			1,148		1,148	28
Deposit account interest			1,051		1,051	17
			2,199		2,199	45
Other
Laundry income			487		487	870
			487		487	870
Total income and endowments			258,526		258,526	256,806
Expenditure on:
Costs ofother trading	activities
Voids			35,355		35,355	34,520
			35,355		35,355	34,520
Total ofexpenditure	on raising funds		35,355		35,355	34,520
Employee costs
Salaries/wages			87,430		87,430	84,736
Employer's NIC			5,063		5,063	5,253
Pension costs			2,121		2,121	2,073
			94,614		94,614	92,062
Travel and subsistence						45
						45
Premises costs
Rates			12,154		12,154	13,461
Light, heat and power			10,226		10,226	13,355
Premises cleaning			3,853		3,853	2,725
Premises insurances			8,487		8,487	5,952
Premises repairs and maintenance			74,754		74,754	62,966
Other premises costs			1,000		1,000	300
			110,474		110,474	98,759

Depreciation ofland and	buildings	buildings	buildings	72,404		72,404	72,404
Depreciation ofFixtures Funeral expenses	(k	fittings		1,581 1,813		1,581 1,813	3,032
Bank charges				91		91	117
Equipment expensed				549		549	401
Events and activities				1,503		1,503
Kitchen supplies				327		327	49
Central control service Software, ITsupport and	related		costs	1,512 1,324		1,512 1,324	2,394 226
Stationery and printing				873		873
Subscriptions				647		647	300
Sundry expenses				47		47	302
Telephone, fax, broadband		and	tv
licence				1,826		1,826	917
				84,497		84,497	80,142
Legal and professional costs
Audit/Independent examination			fees	5,040		5,040	4,200
Accountancy and bookkeeping				3,150		3,150	3,000
Consultancy fees Other legal and professional		costs		2,906 4,776		2,906 4,776	2,664 2,700
				15,872		15,872	12,564
Total ofexpenditure ofother	costs			305,457		305,457	283,572
Total expenditure				340,812		340,812	318,092
Net gains on investments
Net expenditure				(82,286)		(82,286)	(61,286)
Transfers between funds					1,398	1,398
Net expenditure before other
gains/(losses)				(82,286)	1,398	(80,888)	(61,286)
Other Gains
Net movement in funds				(82,286)	1,398	(80,888)	(61,286)