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





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|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<br>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<br>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<br>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<br>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<br>Be<br>BAlANCE SHEET<br>at 31March 2023|The Metropolitan<br>Be<br>BAlANCE SHEET<br>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<br>funds|||15|||
|General funds||||10,587|92,873|
|||||10,587|92,873|
|Reserves|||15|||
|Totalfunds||||9,559,925|9,640,813|
|Approved<br>by the trustees on 15March 2024||||||





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





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|2<br>Statement of Financial|Activities - prior year||||
|---|---|---|---|---|
|||Unrestricte|Restricted|Total|
|||d funds|funds|funds|
|||2022|2022|2022|
|Income and endowments|from:||||
|Donations<br>and legacies||51||51|
|Other trading<br>activities||255,840||255,840|
|Investments||45||45|
|Other||870||870|
|Total||256,806||256,806|
|Expenditure<br>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<br>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<br>Income from donations|and legacies||||
||||Total|Total|
||||2023|2022|
||||f||
|Donations||||51|
|||||51|





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|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|





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|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,<br>depreciation,|||||||
||impairment,<br>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<br>before transfers|||||||
||||||2023||2022|
||This is stated after charging:||||E||E|
||Depreciation<br>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<br>received||emoluments|in excess off60,000.||||
||The average monthly|number offull||time equivalent||||
||employees<br>during the|year was as follows:||||||
||||||2023||2022|
||||||Number||Number|
||Administration|||||||
||Warden|||||||





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||||Land and|Fixtures &||
|---|---|---|---|---|---|
||||buildings|fittings|Total|
|||||f|E|
||Cost or revaluation|||||
||At 1April 2022||10,200,000|66,081|10,266,08<br>1|
||At 31March|2023|10,200,000|66,081|10,266,08<br>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 <br>At31March|2023<br> 2022|9,122,400<br>9,194,804|1,272<br>2,853|9,123,672<br>9,197,657|
|12|Investments|||||
|||||Other||
|||||investment||
|||||s - Listed|Total|
|||||E|E|
||Cost or revaluation|||||
||At 1April 2022|||224,310|224,310|
||Revaluation<br>At31March|2023||1,398<br>225,708|1,398<br>225,708|
||Net book values|||||
||At 31March <br>At31March|2023<br> 2022||225,708<br>224,310|225,708<br>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|





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



|Analysis ofnet assets between<br>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|





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|Annual<br>co|mmitments<br>under non-cancellable|operating<br>leases ar|e as follows:|||
|---|---|---|---|---|---|
|||2023|2023|2022|2022|
|||Land and<br>buildings|Other|Land and<br>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|



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||||Unrestricted|Restricted|Total|Total|
|---|---|---|---|---|---|---|
||||funds|funds|funds|funds|
||||2023|2023|2023|2022|
||||f|f|f|f|
|Income and endowments||from:|||||
|Donations<br>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<br>income|||1,148||1,148|28|
|Deposit account interest|||1,051||1,051|17|
||||2,199||2,199|45|
|Other|||||||
|Laundry<br>income|||487||487|870|
||||487||487|870|
|Total income and endowments|||258,526||258,526|256,806|
|Expenditure<br>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<br>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<br>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|





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