RINGWOOD UNITED CHARITIES
(Charity Registered Number 3070941
28 Christchurch Road
Ringwood
Hampshire BH24 IDN
TRUSTEES, ANNUAL REPORT
AND
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
CHAIRMAN OF TRUSTEES:
Mr D Brown
76 Hinton Wood Avenue
Christchurch
Dorset BH23 5AJ
BANKERS:
National Westminster Bank PLC
11 High Street
Ringwood
Hampshire BH24 IBA
CCLA Investment Management Limited
One Angel Lane
London EC4R 3AB
INDEPENDENT EXAMINER:
Mrs L Horler, ACMA
27 Dene Close, Poulner
Ringwood
Hampshire SP6 INQ
Page I I

Page | 2

RINGWOOD UNITED CHARITIES
TRUSTEES, ANNUAL REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
TRUSTEES, APPROVAL CERTIFICATE
As Trustees, we approve the Annual Report and Financial Statements set out on pages I to 13 in all
respects.
Signed on behalf of the Trustees:
D Brown {Chairman)
Date: 7 January 2025
Page13

RINGWOOD UNITED CHARITIES
TRUSTEES, ANNUAL REPORT FOR THE YEAR ENDED 31 MARCH 2024
The Trustees have the pleasure in presenting their report together with the accounts of the Charity for
the year ended 31 March 2024. The accounts have been prepared in accordance with the accounting
policies set out on page 9 and comply with the Charity Commi55ions Schemes and applicable law.
OBJEcfs AND BACKGROUND
The Charity was created in its present form, and is governed by, a Charity Commission Scheme of 1959.
This brought together several historic endowments, some dating back as far as the171h century. The
scheme restricted the Charity to providing benefits to poor people living within the Parish of Ringwood
and divided the Charity into two branches. First the Almshouse branch is entrusted with the provision
and management of almshouses. The Charity owns the freehold of 8 flats at the Quomp, Ringwood.
These were specially built in 1843 under the terms of a bequest dated a few years earlier. The building
has been Graded11 Listed. Secondly the Poor's branch holds funds which are to be used for the general
benefit of the poor, specifically including providing support to almshouses. The Tru5tees' main concerns
are the ongoing preservation, upgrading and maintenance of the property, and ensuring that it provides
safe and comfortable homes for the residents.
The 1959 scheme envisage that part of the Charity's land could be used for allotments. However, in the
1960's the excess land was compulsorily purchased by Ringwood and Fordingbridge Rural District
Council. As part of the purchase agreement the Council undertook to supply and fund a warden in
perpetuity. Consequently, the welfare of the residents was overseen on a daily basis however in recent
years New Forest District Council have withdrawn this service and the responsibility faSls back, in the
main, on Clerk to the Trustees,.
In accordance with the original donors, wishes the Charity's founding funds were permanent
endowments, and the only funds available to the Trustees from this source are the income generated
from investing the capital. Residents of the almshouses are required to make contribution towards
maintenance costs, but these contributions are restricted to well below what would be a market rent. A
Further Charity Commission Scheme in 1979 brought the Alexander James Memorial Trust Fund within
the Charity's resources, and this put the Charity on a more secure footing. However, other than
residents, maintenance contribution5 and investment income the Charity today is solely dependent on
legacies and other donations.
PUBLIC BENEFIT
The Charities main area of operation is as a housing organisation providing eight units of self-contained
accommodation- each unit comprising of a double bedroom, bathroom, kitchen and living room. Four of
the units are based on the ground floor and the other four units are located on the first floor. The Grade
11 Listed Building is situated in close proximity to the town centre and also offers its residence a
courtyard and maintained communal gardens in which to relax. As well as providing accommodation
the Charity works with the poor of the Parish and has provided direct and indirect support through the
disbursement of funds. Vacancies are advertised locally and potential residents are also proposed by
the housing authority. The Trustees have taken careful regard of the Charity Commissions guidance on
public benefit and believe that by meeting the objectives of the Charity they are fulfilling those
requirements.
Page14

ACTIVITY DURING THE YEAR
Renovation of one of the flats took longer than anticipated resulting in the charity running with
an effective vacancy for the full year (87.5 % occupancy) however the work was completed
shortly after the financial year end with the resident moving back into their flat and the other
propety being advertised and offered to new residence.
Work to replace the chimney stacks progressed well and broadly in line with budget but the
same could not be said for the roofmg project which seemed beset with a number of minor
problems and one significant issue that has caused the work to stall.
At the time that the roof was being stripped it was noted that a signifioqnt number of ridge tiles
had deteriorated to the point that they could not be reused, they were after all over 180 years old.
Further investigation found that the tiles were also of a bespoke design that could neither be
purchased new nor obtained from any reclamation yards, this being despite rigorous searcl]ing.
The only option open to the Trustees was to commission specialist manufacturer of the tiles but
that even with all parties best endeavours this process would take many months to work through
and would consequently not only delay the completion of the work but also delay the removal of
the scaffolding.
Whilst regrettable that the project could not be completed within the current fllwicial year,
Trustees are certain that the right solution has been arrived at and that the project will be
delivered within the following year.
FINANCIAL REVIEW
Whilst the Charity continues to invest in the ongoing maintenance of the building the organisations
finances remain in reasonable health although the commitment to the chimney stack and roof repairs
has made a significant reduction within the major repairs fund and it is important that the Trustees
remain mindful that this fund will, over the coming years, need to be replenished.
In the year 2023124 the resident's maintenance contribution amounted to £34,868 a reduction of £940
on the previous year. Running costs of the Almshouse [detailed in Note 5{bl on page 131 amount to
£89,435 [2022/23 £76,834]. Income from investments amounted to £6,372 an increase of £1,085 over
the previous year. The investment funds involved are approved by the Charity Commission and are held
for the long term. Overall. The value of the Charities assets decreased by £27,913 [2022/23 increase of
£59,187].
The freehold property represents just below 63% of the total asset value of the Charity, based on the
2019 valuation Imarket value £1,178,000], however it remains that there is no expectation that the
property will be put up for sale. Under the Trustee5 revaluation policy, the building is professionally
revalued every 5 years. The next valuation is to be carried out in early 2025.
RESERVES
The Charity's founding funds were by way of permanent endowment and only the income generated
can be spent. The freehold property owned by the Charity is included in the accounts as an investment
asset. By its nature and by the Charity 'S objective it is not expected to be realised. The Trustees ensure
the upkeep of the building is constantly under review and take professional advice where appropriate.
The Trust Scheme requires the Trustees to designate part of the reserves as an Extraordinary Repair
Page15

Fund IERF), holding significant funds available in case of major maintenance requirements. The annual
investment is assessed in accordance with guidelines issued by the Almshouse Association.
The allocation of resenies, showing those funds which are pemianent, and which are available to meet
operating requirements, is shown in Note 6 on page 12.
RISK MANAGEMENT
The Trustees have considered the risks faced by the Charity which include not only operational risks
such as fire and accident, but risks arising from ever-changing legislation and an increasingly litigious
society. They have considered the impact of laws on data protection, safeguardin& disability access and
the safety of the building is constantly under review. They believe that they have identified the major
risks which the Charity faces, and busine55 and operational risks areas far as practicable covered by
commercial insurance. Strategic risks are thought potentially to arise from legislative change at either
local or national level, and these are monitored to the extent that the Trustees are able.
TRUSTEES
The Constitution provides for there to be eleven Trustees. The Vicar of the Parish of Ringwood is
appointed ex-officio. Ringwood Town Council may appoint up to six Trustees with a further four
trustees to be co-opted from persons residing or carrying on business in or near Ringwood.
The Trustees at the date of this report and holding office during the year were:
Mr David V Brown
Mrs Jacqueline C Brown BA Hon
Cllrjohn J Haywood
Cllrjeremy D Heron
Mr Kevin P Jones BA Hon MCIAT
Miss Janet A Pankhurst
Cllr W Stephen Rippon-swaine
Mrjohn A R Smith
Vacancy
Vacancy
Vacancy
Chairman
Town Council Representative
Town Council Representative
Treasurer
Vice-chairman
Town Council Representative
The Trustees meet formally six times a year. The quorum for Trustees, meetings is four, to ensure that
the Trustee meetings can be quorate in the event that an extraordinary meeting be called to attend to
urgent business.
As in previous years I would like to thank my fellow Trustees and the Clerk who have supported the
charity during the past year.
Approved by the Trustees and signed on their behalf by
D V Brown
Chairman
Dated: 7 January 2025
Page16

RINGWOOD UNITED CHARITIES
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
STATEMENT OF TRUSTEE RESPONSIBILITIES APPLICABLE TO THE TRUSTEES OF
RINGWOOD UNITED CHARITIES
Law applicable to charities in England and Wales requires the Trustees to prepare accounts for each
financial year, which give a true and fair view of the Charity's financial activities during the year and of
its financial position at the end of the year. In preparing accounts giving a true and fair view, the
Trustees should follow best practice and:
select suitable accounting policies and then apply them consistently,
make judgements and estimates that are reasonable and prudent,
observe the methods and principles in the Charities Statement of Recommended Practice IFRS1021,
state whether applicable accounting standards and statements of recommended practice have been
followed, subject to any departures disclosed and explained in the accounts,
prepare the accounts on the going concern basis unless it is inappropriate to presume that the charity
will continue in operation.
The Trustees are responsible for keeping accounting records which disclose with reasonable accuracy
the financial position of the Charity and which enable them to ascertain the financial position of the
charity and which enable them to ensure that the accounts comply with applicable law and regulations.
They are also responsible for safeguardinE the assets of the Charity and hence for taking reasonable
steps for the prevention and detection of fraud and other irregularities.
Page17

RINGWOOD UNITED CHARITIES
{Charity Registered Number 3070941
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF RINGWOOD UNITED
CHARITIES
FOR THE YEAR ENDED 31 MARCH 2024
I report to the Trustees on my examination of the accounts of Ringwood United Charities for the year
ended 31 March 2024.
RESPEcfivE 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 (the "Act").
I report in respect of my examination of the Trust's accounts carried out under section 145 of the 2011
Act and, in carrying out my examination, I have followed all the applicable Directions given by the
Charity Commission under section 145{5}Ibl of the Act.
INDEPENDENT EXAMINER'S STATEMENT
I have completed my examination. Apart from my notes below, regarding the National Westminster
'Business Reserve bank account- APTJames Memorial Trust, the 'BLK Charities UK Bond A, and the
status of the 'Alexander James Memorial Trust,, I confirm that no other 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 Trust as required by section 130 of the Act;
or
The accounts do not accord with those records; or
The accounts do not comply with applicable requirements concerning the form and content 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.
l. National Westminster 'Business Reserve bank account- APT James Memorial Trust,, with fund5
of £2,904.48. This balance can only be verified with an historical bank statement. The National
Westminster Bank transferred the funds to a 'Dormant Account, in February 2017 and closed
the Bank account.
2. Alexander James Memorial Trust {a dissolved Trust). The Trust and assets have been
incorporated into the accounts of Ringwood United Charity. The funds are held in BlackRock;
with the account holder named as 'AlexanderJames Memorial Trust,.
The income was previously received quarterly and paid into the Bank account noted in point I
above. As the investment income, has been by cheques in the name of 'Alexander James
Memorial Trust, {the dissolved Trust) there was no facility to bank the items since Nation
Westminster has closed the account.
The Trustees have stated that they propose to resolve the issue by opening a new bank account
in the name of the 'Alexander James Memorial Trust, and incorporate the name into Ringwood
United Charities with the Charities Commission. However, the Trustees have not provided any
Page18

evidence to support that this action has been taken. The matter has now been outstanding for
over 10 years
The Alexander James Memorial Trust capital and income continues to be included in the
accounts, but no evidence has been provided to the support inclusion due to the lack of
resolution.
The amount5 included in the accounts, in respect of the 'AlexanderJames Memorial Trust, {the
dissolved Trust) are as follows:
Capital £ 36,091
Income provided for (Debtor)
2018 £ 836
2019 £ 1,672
2020 £ 1,324
2021 £ 1,567
2022 £ 1,254
2023 £ 1,254
2024 £ 1,254
£ 9,161
I have no other concerns and have come across no other matters in connection with the examination to
which attention should be drawn in this report in order to enable a proper understanding of the
accounts to be reached.
Date: 9 January 2025
27 Dene Close
Poulner
Ringwood
Hampshire
BH24 IDN
SIGNED:
E HorlerACMA
Page | 9

RINGWOOD UNITED CHARITIES
STATEMENT OF FINANCIAL ACTIVITIES
YEAR ENDED 31 MARCH 2024
Ringwood United Charites
Statement of Financial Actlvltes
Year Ended March 2024
Alexanderjames
Memorlal
Trust Fund
TOTAL FUNDS Total Funds
Poors
Fund
Notes Main Fund
2024
2023
INCOMING RESOURCES
Charitable Activities
41al
34,868
35,808
Grant Income
4{al
510
Investment income
41bl
4,978
1,254
130
4362
5,285
Total income and endowments
39.846
1.254
130
4£230
41,603
RESOURCES EXPENDED
Expenditure on.
Charitable Disbursements
51al
Cost of Charitable Activities:
Upkeep of the Almshouses
51b)
89,433
89,433
76,834
Administration
51cl
2.596
2,596
5,793
Professional Fees
51d)
1,9
1,854
Total expenditure
93.929
93,929
84,481
Net income before gains/ Ilossesl
(54.083)
0 152,699)
142,8781
Unrealised revaluation gains / Ilossesl:
Investments
66,537
{4631
66.480
113,0371
Almshouses
MOVEMENT IN FUNDS
12,454
791
536
13,781
155,9151
Balances at l April 2023
I￿5,460
55,549
5.299 1,966,308
1,966,308
BALANCES AT 31 MARCH 2024
1,917.914
5.835 I.￿￿,089
1,910,393
Page | 10

RINGWOOD UNITED CHARITIES
BALANCE SHEET AS AT 31 MARCH 2024
Ringwood United Charites
Balan￿ Sheet
Year Ended March 2024
RESTRicfED FUND5
Alexander
James
Memorial
Trust Fund
Total Funds
Totsl Funds
Main Fund
Poors
Fund
2023
FIXED ASSErs
Almshouses Quomp Ringwood
Ilcl and 2
1,178,CiXI
1,178,1
1,178,CO)
Investments
Ilcl and 6
635,036
30,451
670,3n
616.918
TOTAL FIXED ASSETS
L813,036
30,451
4,884 1,848,3n
1.794.918
CURRENT ASSErs
Debtors and prepayments
2,435
2,435
9.017
Bank Balan￿$.
Nation31 Westminster Bank PLC
Current account
48,592
73,796
Reserve Account
2,905
1905
COIF Deposit Fund
13.430
61,110
62,022
2,905
64,927
137,811
Total current assets
64,457
67.362
146,828
UABILITIES
Creditors (falling due withi n one yearl
Accruals
CURRENT ASSErs
62,557
2.9)5
146.828
TOTAL ASSETS
1,875,593
33,356
4,884 1913,833
1,941,746
Represented bv
RESTRicfED FUNDS
1,875,593
33,356
4,884 1.913,833
1,941,746
Page | 11

RINGWOOD UNITED CHARITIES
NOTES TO THE ACCOUNTS
FOR THE YEAR ENDED 31 MARCH 2024
I ACCOUNTING POLICIES
(a) Basis of accounting
The financial statements have been prepared under the historical cost convention.
The financial statements have been prepared in accordance with the Statement of Recommended
Practice: Accounting and Reporting by Charities preparing their accounts in accordance with the
Financial Reporting Standard applicable in the UK and Republic of Ireland IFRSI 02) las applied to small
entities by section l A of the standard) and with the Charities Act 2011.
(b) Statement of financial activities
Classifications within the accounts are chosen to reflect the particular circumstances of the Charity, as
permitted by the SORP for entities with gross income not exceeding £250,000.
All income and expenditure are recognised in the year to which it relates.
(c) Fixed assets
The Charity's freehold property is considered to be an investment asset and as such is required to be
stated at market value. The Trustees, policy is to obtain a professional valuation every five years, and
meanwhile to make their own best estimate of current market value, supported where appropriate by a
published index of property values.
Other investments are stated at their market value as at the balance-sheet date.
Movements in the capital value of retained investments are included in the Statement of Financial
Activities as unrealised gains or losses.
(d) Restricted funds
The charity ha5 a branch structure imposed on it by the 1959 Charity Commi55ion Scheme, and most
amounts received have to be allocated to one or the other branch. As the branches have defined
purposes within the general objects of the Charity all such amounts, and the value of assets acquired
therewith, are classified as restricted funds.
2 FREEHOLD PROPERTY
The freehold property was professionally valued at 31 March 2019 by Kent Brennan MSC MRICS an RICS
Registered Valuer. The property recorded a market value of £1,178,000 subject to the open market and
vacant possession. This method of valuation has been the reported value within the accounts in line
with previous years. The professional valuer also provided a value of £550,000 subject to existing
licences and restriction. As stated in the financial review, a revaluation will be carried out in early 2025.
3 RELATED-PARTY TRANSAcfioNS
No grants were received from Ringwood Town Council, which is considered to be a related party as it
has the right to appoint six Trustees by virtue of the terms of the Charity's Constitution. As described in
the Trustees, Report, the Council supplied and funded the services of a warden. None of the other
Trustees received any remuneration or reimbursement for expenses incurred on the charitls behalf.
Page | 12

RINGWOOD UNITED CHARITIES
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
RESTrICTED FUNDS
Charitable Activities
Alexanderjames
Memorial
Trust Fund
TOTAL FUNDS
Total Funds
a) CHARITABLE ACTIVITIES
Main Fund
Poors
Fund
2024
2023
Almspersons
28,624
28,624
35,808
Grant Income
510
Miscellaneous
24624
36,318
4(bl INVEStMENT INCOME
Charinco Common Investment Fund
20902.59 Income Units
BLK Charites UK Bond Fund A
1,254
1,254
COIF Charities Investment Fund
4129 Income Units- Clark
2,249
2,249
2,249
213 Income Units- Clark
116
116
3687 Income Units- Repairs
211
211
211
22 Income Units- Baldwin
12
12
17 Income units Burch
4 Income Units- Thaine
COIF Deposit interest
Bank Interest
2,518
2.518
1,434
4,978
6.362
5,287
Page | 13

RINGWOOD UNITED CHARITIES
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
RESTRICTED FUNDS
EXPENDITURE ON
Alexanderjames
Memorfal
Trust Fund
TOTAL FUNDS
Poors
Fund
Main Fund
2023
51a) CHARITABLE DISTRIBUTIONS
S(bl COSTOF CHARITABLE ACTIVITES
Upkeep of Almshouses
Repairs- consultancy
Refurbish- Comminal Areas
Roof / Chlmney Project
Refurbish Flat 8
Refurbish Flat 9
Refurbish Flat io
Refurbish Flat 11
Refurbish Flat 12
Refurbish Flat 13
Refurbish Flat 14
Council Tax
Electricity
Gas
9,972
9,9n
3,522
1,450
59,267
95
5,021
313
83
367
954
270
38,470
38.470
3L617
491
924
491
924
91
91
1,398
95
Water
Telephone
Insvrance
Garden
Miscellaneous repairs linc gas safetyl
2,119
719
2,102
2,119
719
2,1(r2
2,677
732
375
89,433
76,834
51cl ADMINISTRATION
Almshouses Association
Clerk's Salary
Computer
Miscellaneous linc room hirel
4M3
296
1,820
37
296
5.460
37
37
2,596
1596
5,793
51dl PROFESSIONAL FEES
Accountancy
Property revaluation
1,9CM)
1,854
Page114

RINGWOOD UNITED CHARITIES
NOTES TO THE FINANCIAL ST ATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
RESTRICTED FUNDS
TOTAL
FUNDS
Totsl Funds
Alexanderjames
Memorial
Poors
Trust Fund Fund
Main Fund
2023
6 INVESTMENTS
Alexanderjames Memorial Trust Fund
BLK Charities UK Bond Fund A (income units)
Iformerly Charinco Common Investment Fund- income unitsl
01 April 2023
30,914
Unrealised Ilossl / gain forthe year
14631
Valuation at 31 March 2024
30,451
30,914
4631
30.451
36.091
15,177)
30,914
Clarks Fund
COIF Charities Investment Fund lincome unltsl
01 April 2023
Unrealised Ilossl / gain for the year
Valuation at 31 March 2024
77.363
7.(X)3
3,991
361
4,352
81354
84,554
13,2¢X>I
81,354
88,718
Repairs Fund
COIF Charities Investment Fund (income units)
01 April 2023
Unrealised Ilossl / gain for the year
Valuation at 31 March 2024
7.251
7.251
656
7.907
12851
7.251
7.907
Baldwin Fund
COIF Charities Investment Fund (income units)
01 April 2023
Unrealised1105sI / gain for the year
Valuation at 31 March 2024
412
38
412
428
161
412
Burch Fund
COIF Charities Investment Fund (income units)
OIApril 2023
Unrealised110ss1 / gain forthe year
Valuation at 31 m?￿h 2024
319
28
347
319
331
347
319
Thaine Fund
COIF Charities Investment Fund (income units)
OIApril 2023
Unrealised Ilossl / gain forthe year
Valuation at 31 March 2024
78
131
75
Extraordinary Repalr Fund
COIF Charities Investment Fund (income unitsl
OIApril 2023
483,566
Investment duringthe year
Unrealised Ilossl / gain forthe year
Valuatlon at 31 March 2024
483,566
487,
58,850
y1416
5&850
Y2,416
14,3341
Total At Valuation
635.036
30,451
4,884 670.3n
fA)3.891
Totsl Unrealised (10551 Igain forthe year
66,537
{4631
406 6fi480
113,0271
Page | 15