PLATTEN AND BENSON ALMSHOUSE CHARITY
ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023
Scott & Wilkinson Dalton House 9 Dalton Square LANCASTER LAI 1WD
PLATTEN AND BENSON ALMSHOUSE CHARITY
INDEX
FOR THE YEAR ENDED 31 DECEMBER 2023
1 Index
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2 Legal and Administrative Information 3 Annual Report
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4 Independent Examiner’s Report 5-6 Receipts and Payments Account 7 Statement of Assets and Liabilities
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8 Notes to the Financial Statements
1
PLATTEN AND BENSON ALMSHOUSE CHARITY
LEGAL AND ADMINISTRATIVE INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2023
Charity Registration Number 500574
Governing Document
The Platten and Benson Almshouse Charity is registered with the Charity Commissioners (No. 500574) and constituted by a scheme of the Charity Commission dated 4 January 1974.
| The Charity is administered and managed by the Trustees ofLancaster Charity (No. 213461) undera variation | The Charity is administered and managed by the Trustees ofLancaster Charity (No. 213461) undera variation |
|---|---|
| of the scheme dated 10 December 1981. | |
| Trustees | |
| The Trustees, five ofwhich are appointedby Lancaster City Council, are as follows: | |
| Chairman | MrRWCarradice |
| OtherMembers | DameP Fielding |
| Mrs S EHodgson | |
| Mr C Hanna | |
| MrA Sandham | |
| Mrs P Barker | |
| Rev L Vasey-Saunders | |
| MsN Combe | |
| Appointedby | |
| Lancaster City Council | CouncillorD Brookes |
| Councillor R Redfern |
|
| Councillor K Budden | |
| Councillor S McGregor— appointed 11 May 2023 |
|
| CouncillorC Cozler— appointed 11 May 2023 | |
| Bankers | Barclays Bank Plc |
| 38 Market Street | |
| Lancaster | |
| LA1 1HR | |
| Clerk to the Trustees | MrPEM OglethorpeTD |
| and Principal Address | William Penny’s |
| Regent Street | |
| Lancaster | |
| LAI 1SG | |
| Independent Examiner | SW HinniganFCACTA |
| Scott & Wilkinson LLP | |
| Dalton House | |
| 9 Dalton Square | |
| Lancaster | |
| LA11WD |
2
PLATTEN AND BENSON ALMSHOUSE CHARITY
ANNUAL REPORT
FOR THE YEAR ENDED 31 DECEMBER 2023
Objects, organisation and policies
The Charity was founded for the benefit of the people of Morecambe. Councillor Benson and Councillor Platten gifted the money which built the first almshouses known as 1-8, Platten Grove, Morecambe. Since then the Charity has built two further properties - Nos. 9 and 10, Platten Grove.
The object of the Charity, for the public benefit, is to provide housing for “poor aged persons residing in the Borough of Morecambe and Heysham” and to apply any surplus income for the benefit of the almspeople in such a manner as the Trustees think fit.
The residents are expected to contribute towards the cost of maintaining the almshouses and essential services.
The day to day running of the Charity is done through the Clerk to the Trustees.
Reserves policy
The charity maintains sufficient free reserves to enable them to cover one year's fixed and administrative expenses and any maintenance costs. Free reserves as at the year-end were £94,790 (2022 — £76,923).
Review of development, activity and achievements
The almshouses were occupied for the whole of the year. The Charity is not planning on expanding operations in the near future. Upgrading and repair works were undertaken in the year.
The charity has sufficient funds to meet its liabilities.
The trustees consider that they have complied with the duty in section 4 of the Charities Act 2011 to have due regard to the public benefit guidance published by the Charity Commission.
Financial review
The market value of funds held in investments increased by 7.7% this year due to an improvement in the market generally and recovered the downturn seen last year.
There are still sufficient amounts held in the funds to comply with the requirement in the Governing Document for an Extraordinary Repair Fund for the purpose of providing for the extraordinary repair, improvement or rebuilding of almshouses belonging to the Charity.
Mr R W Carradice Trustee
Date: 0.0.00.c ceceeee eee
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INDEPENDENT EXAMINERS’ REPORT TO THE TRUSTEES OF THE PLATTEN AND BENSON ALMSHOUSE CHARITY
I report to the charity trustees on my examination of the accounts of the charity for the for the year ended 31 December 2023 set out on pages 5 to 8.
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 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:
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accounting records were not kept in respect of the charity as required by section 130 of the Act; or 2. the accounts do not accord with those records; or
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the accounts do not comply with the 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.
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 in order to enable a proper understanding of the accounts to be reached.
S W Hinnigan FCA CTA Scott & Wilkinson Dalton House 9 Dalton Square LANCASTER LA1 1WD
Date: ..... eeeeee ees
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PLATTEN AND BENSON ALMSHOUSE CHARITY
RECEIPTS AND PAYMENTS ACCOUNT
FOR THE YEAR ENDED 31 DECEMBER 2023
| General Purposes Fund | |||||||
|---|---|---|---|---|---|---|---|
| 2023 | 2022 | ||||||
| Notes | £ | £ | £ | £ | |||
| Income receipts | |||||||
| Amounts collected from residents | 35,712 | 35,731 | |||||
| Investment Income | |||||||
| Bank interest receivable | 232 | 21 | |||||
| Income from investments | 2 | 3,351 | 3,308 | ||||
| Resident contribution to repairs | - | 350 | |||||
| 3,583 | 3,679 | ||||||
| Total receipts | 39,295 | 39,410 | |||||
| Total payments (See Page 6) | 21,428 | 28,656 | |||||
| Net surplus/(deficit) for the year | 17,867 | 10,754 | |||||
| Cash and bank balances as at | |||||||
| 31 December 2022 | 76,923 | 66,169 | |||||
| Cash and bank balances as at | |||||||
| 31December2023 | 94,790 | 76,923 |
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PLATTEN AND BENSON ALMSHOUSE CHARITY
RECEIPTS AND PAYMENTS ACCOUNT
FOR THE YEAR ENDED 31 DECEMBER 2023
| General Purposes Fund | ||||||
|---|---|---|---|---|---|---|
| 2023 | 2022 | |||||
| £ | £ | £ | £ | |||
| Direct charitable expenditure | ||||||
| Property repairs | 8,850 | 16,795 | ||||
| Grass cutting and gardening | 5,291 | 4,854 | ||||
| Property insurance | 1,324 | 1,194 | ||||
| Water charges | 2,293 | 3,027 | ||||
| Council tax | 967 | 284 | ||||
| 18,725 | 26,154 | |||||
| Other expenditure | ||||||
| Clerk to the trustees | 1,340 | 1,280 | ||||
| Management expenses | 234 | 234 | ||||
| Accountancy | 720 | 678 | ||||
| Subscriptions | 343 | 196 | ||||
| Sundry | = | 48 | ||||
| Motor and travel expenses | 66 | 66 | ||||
| 2,703 | 2,502 | |||||
| Totalpayments | 21,428 | 28,656 |
6
PLATTEN AND BENSON ALMSHOUSE CHARITY
STATEMENT OF ASSETS AND LIABILITIES
AS AT 31 DECEMBER 2023
| 2023 | 2022 | |
|---|---|---|
| £ | £ | |
| Monetary assets | ||
| Barclays community account | 68,382 | 54,098 |
| Barclays high interest business account | 26,408 | 22,825 |
| Totalforgeneralpurposesfund,asabove | 94,790 | 76,923 |
Non-monetary assets
Permanent endowment
Land and buildings used by the charity: 1-10, Platten Grove, Morecambe Market value at 4th May 1995: £200,000 (Freehold title vested in the Official Custodian for Charities) 3,651.09 Charities Official Investment Fund (COIF) income shares (cost £11,872) 10,341 M&G Investments Charity Multi Asset income shares (cost £6,101)
Designated extraordinary repair fund
571 M&G Investments Charity Multi Asset accumulation shares (cost £3,276)
General Purposes Fund
1,777.98 Charities Official Investment Fund (COIF) income shares (cost £5,561)
Current Liabilities Accountancy 775 725
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Approved by the Trustees and signed on their behalf by
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Mr R W Carradice Trustee
thom aaa Date
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PLATTEN AND BENSON ALMSHOUSE CHARITY
NOTES TO THE ACCOUNTS
FOR THE YEAR ENDED 31 DECEMBER 2023
1 List of residents
No. 1 Ms Yvonne Hutton No. 2 Mr Peter Stevenson No. 3. Mr Brian McCamley No. 4. Mrs Audrey Stalker No. 5 Mrs Sylvia Dewar No. 6 Mrs Carolyn Fell No. 7 Mrs Susan Dye No. 8 Mr John McCamley No. 9 Mr Nigel Andy Ford No. 10 Mr Howard Harrison
2 Investments
| Investments | ||||
|---|---|---|---|---|
| Investment | Income | Market | Value | |
| 2023 | 2022 | 2023 | 2022 | |
| £ | £ | £ | £ | |
| Endowment funds | ||||
| 3,651.09 COIF Income shares | 1,989 | 1,981 | 72,456 | 66,358 |
| 10,341 M&G Charity Multi Asset | 393 | 362 | 9,288 | 9,132 |
| Extraordinary repair fund | ||||
| 571 M&G Charity Multi Asset | - | - | 63,898 | 60,163 |
| General funds | ||||
| 1,777.98 COIF Income shares | 969 | 965 | 35,284 | 32,315 |
| 3,351 | 3,308 | 180,926 | 167,968 |
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