Charity number: 506598
ALMSHOUSE CHARITY OF JOHN SHAFTOE
UNAUDITED
TRUSTEES' REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2022
ALMSHOUSE CHARITY OF JOHN SHAFTOE
| CONTENTS | |
|---|---|
| Page | |
| Reference and administrative details of the Charity, its Trustees and advisers | 1 |
| Trustees' report | 2 - 6 |
| Independent examiner's report | 7 |
| Statement of financial activities | 8 |
| Balance sheet | 9 |
| Notes to the financial statements | 10 - 22 |
ALMSHOUSE CHARITY OF JOHN SHAFTOE
REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 MARCH 2022
| Trustees | Mr J.J. Drydon (Co-optative), Chair |
|---|---|
| Mrs L.A Gilhespy (Appointed by the Parish Council of Haydon Bridge) | |
| Mr E. Faulks (Appointed by the Parish Council of Haydon Bridge) | |
| Mrs K. Richardson (Appointed by the Parish Council of Haydon Bridge) | |
| Mr B.L. Bates (Co-optative) | |
| Ms P. Collis (Co-optative) | |
| Mrs D. Wardle (Co-optative) | |
| Mr J.C. Wardle (Co-optative) | |
| Mr E. Brown (Appointed by the Parish Council of Haydon Bridge) | |
| Charity registered number 506598 Principal office Shaftoe Terrace Haydon Bridge Northumberland NE47 6BW Clerk to the Trustees Mr S. Exham Accountants Ryecroft Glenton Chartered Accountants 32 Portland Terrace Newcastle upon Tyne NE2 1QP Bankers HSBC Bank Plc Fore Street Hexham Northumberland NE46 1LY Solicitors Brewin Dolphin Time Central Gallowgate Newcastle upon Tyne NE1 4SR |
Page 1
ALMSHOUSE CHARITY OF JOHN SHAFTOE
TRUSTEES' REPORT FOR THE YEAR ENDED 31 MARCH 2022
The Trustees present their annual report together with the financial statements of the Almshouse Charity of John Shaftoe for the year 1 April 2021 to 31 March 2022.
The financial statements have been prepared in accordance with the accounting policies set out in the notes to the financial statements and comply with the charity’s governing document, the Charities Act 2011 and the relevant version of the Statement of Recommended Practice applicable to charities preparing their financial statements in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102).
Objectives and activities
Policies and objectives
The object of the charity is the provision of housing accommodation in property owned by the charity.
The Trustees shall first defray out of the income of the charity the cost of repairs and insurance and all other charges and outgoings payable in respect of the property of the charity and all proper expenses incidental to the administration of the charity. The Trustees have designated a Cyclical Maintenance Fund to provide for the ordinary maintenance and repair of the almshouses and an Extraordinary Repair Fund to provide for extraordinary repair, improvement or rebuilding of the almshouses. Thereafter the Trustees shall apply the income of the charity for the benefit of the residents in the almshouses in such manner as the Trustees think fit.
In setting objectives and planning for activities, the Trustees have given due consideration to general guidance published by the Charity Commission relating to public benefit, including the guidance 'Public benefit: running a charity (PB2)'.
Main activities undertaken to further the Charity's purposes for the public benefit
The Trustees have referred to the guidance contained in the Charity Commission's general guidance on public benefit when reviewing the aims and objectives and in planning future activities. The charity is able to assist with the housing needs of those resident in the Parish of Haydon Bridge who are in need. Vacancies are advertised locally and the process of selection also is a structured one.
Achievements and performance
Key performance indicators
A key objective of the Trustees has been to upgrade the quality of the almshouse dwellings as they become vacant in order to improve the sustainability of the stock.
A new fitted kitchen has been installed for a recently arrived resident. Work continues to improve the outside environment, clearing and replanting communal garden areas.
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ALMSHOUSE CHARITY OF JOHN SHAFTOE
TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2022
Achievements and performance (continued)
Review of activities
The Trustees report net income before revaluations in the year of £5,053 (2021: gain of £14,723).
The charity's funds are invested in UK unit trusts and there was a net gain of £9,076 (2021 £33,441) arising on the revaluation of these investments at 31 March 2022 and a gain on disposal of £424 (2021 £6,520).
The charity's property, which is permanently endowed and vested in the Official Custodian, comprises nine Almshouses and an office at Shaftoe Terrace, Haydon Bridge, all of which are used for the purposes of the charity. These properties were revalued by the Trustees at 31 March 2015 at an open market value of £900,000.
Shaftoe Educational Foundation is a connected charity. The two organisations have a common board of Trustees and were originally one charity, founded in 1685.
Since the retirement of the warden and the handyman, the management and support services have now been reconfigured to include a community alarm and 24/7 emergency response service, and additional gardening services. The emergency alarm system has been reviewed and the service is being updated in line with residents’ requests.
Investment policy and performance
The Trustees are required to invest all sums of cash, other than those required for the immediate working purposes, at their discretion, subject to the requirements of the Trustee Investments Act 1961.
The real estate investments of the charity are vested in the Official Custodian for Charities.
The Governors, in conjunction with their investment advisers Brewin Dolphin, developed a new Investment Policy during 2015, which was adopted at the meeting on 12 November 2015. It was further reviewed at the March 2018 meeting and no changes were made to the investment policy.
Brewin Dolphin, the investment managers retained by the charity currently invest on a diversified risk basis, seeking to generate a balance of income and capital growth.
In the year to 31 March 2022 the investment portfolio recorded investment gains of £9,500 (2021: £39,961).
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ALMSHOUSE CHARITY OF JOHN SHAFTOE
TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2022
Financial review
Going concern
The charity relies upon its investment income and support from its connected Charity Shaftoe Educational Foundation. After making appropriate enquiries, the Trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. For this reason they continue to adopt the going concern basis in preparing the financial statements.
The Trustees have considered Going Concern in the context of the coronavirus pandemic. The operational aspects of the Charity do not change other than the need for additional security around residents, and the objects of the charity are enhanced by the need for affordable accommodation in a sheltered environment. The pandemic will have little or no impact on the Charity's financial position other than its investments which are not required for operational purposes in the next twelve months following the approval of the financial statements.
Structure, governance and management
Constitution
The Almshouse Charity of John Shaftoe is constituted by a Charity Commission scheme.
The charity was registered with the Charity Commission on 8 August 1977 and was allocated Charity No. 506598.
Methods of appointment or election of Trustees
Due to the close connection of the charity and the Shaftoe Educational Foundation, the Trustees elected for Shaftoe Educational Foundation are also invited to be Trustees of the Almshouse.
Organisational structure and decision-making policies
The Trustees meet three times a year to review the management of the property. However, the day to day operational needs are devolved to the Clerk to the Trustees, who has experience in the requirements of those in need.
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ALMSHOUSE CHARITY OF JOHN SHAFTOE
TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2022
Structure, governance and management (continued)
Financial risk management
The Trustees constantly review their policies for the management of risk to the charity. The main threat to the viability of the charity arises from occupancy of the cottages. Lack of residents would curtail this financial stream.
However, the charity is not able to generate sufficient funds to maintain the almshouses to an appropriate standard. For this reliance is placed on its connected charity, Shaftoe Educational Foundation. There is therefore a risk associated with the pressures of need on its connected charity though this is effectively managed through both charities having common Trustees.
The investment policy has a detailed section on risk, covering: land and property risk; investment risk and charity specific risk.
A revised risk policy was agreed at the meeting of 14 July 2016.
The Trustees have updated a number of policies. The risk policies updated in 2018 covering conflicts of interest, Trustee conduct & confidentiality and financial controls, remain in place. Nothing untoward has been reported or come to light.
Future developments
The charity will continue to provide affordable accommodation to those in need for the foreseeable future, and manage its properties so that they continue to provide an appropriate quality of accommodation according to the needs of the residents.
Statement of Trustees' responsibilities
The Trustees are responsible for preparing the Trustees' report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
The law applicable to charities in England & Wales requires the Trustees to prepare financial statements for each financial which give a true and fair view of the state of affairs of the Charity and of its incoming resources and application of resources, including its income and expenditure, for that period. In preparing these financial statements, the Trustees are required to:
-
select suitable accounting policies and then apply them consistently;
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observe the methods and principles of the Charities SORP (FRS 102);
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make judgments and accounting estimates that are reasonable and prudent;
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state whether applicable UK Accounting Standards (FRS 102) have been followed, subject to any material departures disclosed and explained in the financial statements;
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prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Charity will continue in business.
The Trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the Charity's transactions and disclose with reasonable accuracy at any time the financial position of the Charity and enable them to ensure that the financial statements comply with the Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the Trust deed. They are also responsible for safeguarding the assets of the Charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
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ALMSHOUSE CHARITY OF JOHN SHAFTOE
TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2022
Approved by order of the members of the board of Trustees on 26 August 2022 and signed on their behalf by:
J J Drydon Trustee
Page 6
ALMSHOUSE CHARITY OF JOHN SHAFTOE
INDEPENDENT EXAMINER'S REPORT FOR THE YEAR ENDED 31 MARCH 2022
Independent examiner's report to the Trustees of Almshouse Charity of John Shaftoe ('the Charity')
I report to the charity Trustees on my examination of the accounts of the Charity for the year ended 31 March 2022.
Responsibilities and basis of report
As the Trustees of the Charity you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('the 2011 Act').
I report in respect of my examination of the Charity's accounts carried out under section 145 of the 2011 Act and in carrying out my examination I have followed the applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.
Independent examiner's statement
Your attention is to drawn to the fact that the charity has prepared the financial statements in accordance with the relevant version of the Statement of Recommended Practice applicable to charities preparing their financial statements in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) in preference to the Accounting and Reporting by Charities: Statement of Recommended Practice issued on 1 April 2005 which is referred to in the extant regulations but has been withdrawn.
I understand that this has been done in order for the financial statements to provide a true and fair view in accordance with UK Generally Accepted Accounting Practice.
I have completed my examination. I confirm that no 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 2011 Act; or
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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.
This report is made solely to the Charity's Trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. My work has been undertaken so that I might state to the Charity's Trustees those matters I am required to state to them in an Independent examiner's report and for no other purpose. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than the Charity and the Charity's Trustees as a body, for my work or for this report.
Dated: 26 August 2022
Deborah Graham FCA
Ryecroft Glenton 32 Portland Terrace Newcastle upon Tyne, NE2 1QP
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ALMSHOUSE CHARITY OF JOHN SHAFTOE
STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2022
| Note Income and endowments from: Donations and legacies 3 Charitable activities 4 Investments 5 Total income and endowments Expenditure on: Charitable activities Total expenditure Net income before net gains on investments Net gains on investments Net movement in funds Reconciliation of funds: Total funds brought forward Net movement in funds Total funds carried forward |
Endowment funds 2022 £ - - - - - - - - - 900,780 - 900,780 |
Unrestricted funds 2022 £ 1,720 27,040 4,460 33,220 28,167 28,167 5,053 9,500 14,553 229,241 14,553 243,794 |
Total funds 2022 £ 1,720 27,040 4,460 33,220 28,167 28,167 5,053 9,500 14,553 1,130,021 14,553 1,144,574 |
Total funds 2021 £ 1,720 28,368 5,013 |
|---|---|---|---|---|
| 35,101 | ||||
| 20,378 | ||||
| 20,378 | ||||
| 14,723 39,961 |
||||
| 54,684 | ||||
| 1,075,337 54,684 |
||||
| 1,130,021 |
The Statement of financial activities includes all gains and losses recognised in the year.
The notes on pages 10 to 22 form part of these financial statements.
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ALMSHOUSE CHARITY OF JOHN SHAFTOE
BALANCE SHEET AS AT 31 MARCH 2022
| Note Fixed assets Tangible assets 9 Investments 10 Current assets Debtors 12 Creditors: amounts falling due within one year 13 Net current assets Total assets less current liabilities Total net assets Charity funds Endowment funds 14 Unrestricted funds 14 Total funds |
24,336 24,336 (2,016) |
2022 £ 900,000 222,254 1,122,254 22,320 1,144,574 1,144,574 900,780 243,794 1,144,574 |
22,067 22,067 (1,920) |
2021 £ 900,000 209,874 |
|---|---|---|---|---|
| 1,109,874 20,147 |
||||
| 1,130,021 | ||||
| 1,130,021 | ||||
| 900,780 229,241 |
||||
| 1,130,021 |
The financial statements were approved and authorised for issue by the Trustees on 26 August 2022 and signed on their behalf by:
J J Drydon
Trustee
The notes on pages 10 to 22 form part of these financial statements.
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ALMSHOUSE CHARITY OF JOHN SHAFTOE
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022
1. General information
Almshouse Charity of John Shaftoe is a charitable trust, charity number 506598. The principal office is Shaftoe Terrace, Haydon Bridge, Northumberland, NE47 6BW. The principal objective is the provision of housing accommodation in properties owned by the the charity.
2. Accounting policies
2.1 Basis of preparation of financial statements
The financial statements have been prepared in accordance with the relevant version of the Statement of Recommended Practice applicable to charities preparing their financial statements in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Charities Act 2011 and UK Generally Accepted Accounting Practice.
The financial statements have been prepared to give a ‘true and fair’ view and have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a ‘true and fair view’. This departure has involved following the relevant version of the Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) rather than the Accounting and Reporting by Charities: Statement of Recommended Practice effective from 1 April 2005 which has since been withdrawn.
Almshouse Charity of John Shaftoe meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy.
2.2 Going concern
Having made due enquiry, the Trustees are satisfied that the Almshouse can meet its ongoing obligations because it continues to be supported by the Shaftoe Educational Foundation, a connected charity. Therefore the Trustees are satisfied that the going concern basis of accounting is appropriate when preparing the annual financial statements.
2.3 Income
All income is recognised once the Charity has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably.
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ALMSHOUSE CHARITY OF JOHN SHAFTOE
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022
2. Accounting policies (continued)
2.4 Expenditure
Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity.
Expenditure on charitable activities is incurred on directly undertaking the activities which further the Charity's objectives, as well as any associated support costs.
All expenditure is inclusive of irrecoverable VAT.
2.5 Tangible fixed assets and depreciation
Tangible fixed assets are initially recognised at cost. After recognition, under the revaluation model, tangible fixed assets whose fair value can be measured reliably shall be carried at a revalued amount, being their fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
Revaluations are made with sufficient regularity to ensure that the carrying amount does not differ materially from that which would be determined using fair value at the end of the reporting date.
Fair values are determined from market-based evidence by appraisal that is normally undertaken by professionally qualified valuers. If there is no market-based evidence of fair value because of the specialised nature of the tangible fixed asset and it is rarely sold, except as part of a contributing business, a Charity may need to estimate fair value using an income or depreciated replacement cost approach.
Gains and losses on revaluation are recognised in the Statement of financial activities.
Depreciation is provided on the following basis:
- Freehold property Nil, held at valuation
2.6 Investments
Fixed asset investments are a form of financial instrument and are initially recognised at their transaction cost and subsequently measured at fair value at the Balance sheet date, unless the value cannot be measured reliably in which case it is measured at cost less impairment. Investment gains and losses, whether realised or unrealised, are combined and presented as ‘Gains/(Losses) on investments’ in the Statement of financial activities.
Investments held as fixed assets are shown at cost less provision for impairment.
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ALMSHOUSE CHARITY OF JOHN SHAFTOE
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022
2. Accounting policies (continued)
2.7 Financial instruments
The Charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method.
2.8 Fund accounting
General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the Charity and which have not been designated for other purposes.
Designated funds comprise unrestricted funds that have been set aside by the Trustees for particular purposes. The aim and use of each designated fund is set out in the notes to the financial statements.
Investment income, gains and losses are allocated to the appropriate fund.
3. Income from donations and legacies
| Unrestricted funds 2022 £ Grants from Shaftoe Educational Foundation 1,720 Unrestricted funds 2021 £ Grants from Shaftoe Educational Foundation 1,720 |
Total funds 2022 £ 1,720 |
|---|---|
| Total funds 2021 £ 1,720 |
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ALMSHOUSE CHARITY OF JOHN SHAFTOE
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022
4. Income from charitable activities
| Unrestricted funds 2022 £ Maintenance contributions from residents 27,040 Unrestricted funds 2021 £ Maintenance contributions from residents 28,368 5. Investment income Unrestricted funds 2022 £ UK investment income and interest 4,460 Unrestricted funds 2021 £ UK investment income and interest 5,013 |
Total funds 2022 £ 27,040 |
|---|---|
| Total funds 2021 £ 28,368 |
|
| Total funds 2022 £ 4,460 |
|
| Total funds 2021 £ 5,013 |
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ALMSHOUSE CHARITY OF JOHN SHAFTOE
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022
6. Analysis of expenditure by activities
| Almshouse Support Almshouse Support Analysis of support costs Resident support costs Repairs and maintenance Heat and light Water and insurance Subscriptions Clerk's fees and expenses Sundry expenses Bank charges Major repairs Property valuation fees Governance costs Supported housing support |
Support costs 2022 £ 28,167 Support costs 2021 £ 20,378 Total funds 2022 £ 1,270 11,250 668 5,197 187 2,240 (120) 23 3,072 - 3,580 800 28,167 |
Total funds 2022 £ 28,167 |
|---|---|---|
| Total funds 2021 £ 20,378 |
||
| Total funds 2021 £ 1,270 4,794 1,599 2,901 361 2,146 50 - 3,371 650 3,236 - |
||
| 20,378 |
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ALMSHOUSE CHARITY OF JOHN SHAFTOE
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022
| . Governance costs above comprise: Independent examination Investment management 7. Independent examiner's remuneration Fees payable to the Charity's independent examiner for the independent examination and preparation of the Charity's annual accounts |
2022 £ 2,106 1,474 3,580 2022 £ 2,106 |
2021 £ 1,920 1,316 |
|---|---|---|
| 3,236 | ||
| 2021 £ 1,920 |
8. Trustees' remuneration and expenses
During the year, no Trustees received any remuneration or other benefits (2021 - £NIL) .
During the year, no Trustee expenses have been incurred (2021 - £NIL) .
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ALMSHOUSE CHARITY OF JOHN SHAFTOE
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022
9. Tangible fixed assets
| Cost or valuation At 1 April 2021 At 31 March 2022 Net book value At 31 March 2022 At 31 March 2021 |
Freehold property £ 900,000 |
|---|---|
| 900,000 | |
| 900,000 | |
| 900,000 |
Included in land and buildings is freehold property at valuation of £900,000 (2021 - £900,000), which is not depreciated. The original cost is not known.
The freehold property was revalued as at 31 March 2015 by the Trustees on the basis of open market value for existing use.
The property is used for direct charitable purposes except for the office which is used for the administration of the charity. The property is considered to be an inalienable asset as it is to be retained indefinitely for the charity’s own use and benefit (see also note 16).
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ALMSHOUSE CHARITY OF JOHN SHAFTOE
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022
10. Fixed asset investments
| Cost or valuation At 1 April 2021 Additions Disposals Revaluations At 31 March 2022 Net book value At 31 March 2022 At 31 March 2021 |
Listed investments £ 205,383 11,868 (10,600) 9,500 216,151 216,151 205,383 |
Cash held for re- investment £ 4,491 14,954 (13,342) - 6,103 6,103 4,491 |
Total £ 209,874 26,822 (23,942) 9,500 222,254 222,254 209,874 |
|---|---|---|---|
All of the fixed asset investments are held in the UK.
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ALMSHOUSE CHARITY OF JOHN SHAFTOE
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022
11. Listed investments at market value comprise:
| Charishare First Sentier Investments Jupiter UT Mngrs Strategic Bond X GBP Dis SSGA S&P US Dividend Thesis UT Mgt Ltd TM Redwheel UK Eq Inc L GBP Muzinich Funds Tactical Cred Blackrock EURP Inc D units Investec Fund UK Alpha J Net Link Fund Sol Trojan income Jupiter Fund Managers UK Mid Cap U2 MAN FD Mgt UK Ltd Tritax Big Box REI ORD Personal Assets TR Ord BNY Mellon JPM EM INC C Vanguard Inc SERV UK First State Asia PAC Twenty Four Global Corporate Bond Jupiter UT managers Japan Income Fund Smith LLP Equity I Shares S&P J P Morgan US Equity Inc Fil Inv SCS UK Money Builder Robecco Lux SA Global Xtrackers (IE) |
2022 £ 10,759 10,093 3,832 15,527 8,138 9,611 15,307 - 9,642 9,307 8,330 6,964 5,040 6,100 3,271 5,590 7,336 7,192 6,006 7,192 16,348 16,704 6,598 6,547 14,717 216,151 |
2021 £ 9,996 8,770 - 13,520 - 10,152 14,820 10,176 9,072 11,655 8,001 5,170 4,520 5,926 3,311 5,987 7,071 7,779 6,335 6,589 13,515 14,125 7,119 6,976 14,798 |
|---|---|---|
| 205,383 |
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ALMSHOUSE CHARITY OF JOHN SHAFTOE
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022
12. Debtors
| Due within one year Owed by Shaftoe Educational Foundation Prepayments and accrued income 13. Creditors: Amounts falling due within one year Accruals and deferred income |
2022 £ 22,792 1,544 24,336 2022 £ 2,016 |
2021 £ 20,583 1,484 |
|---|---|---|
| 22,067 | ||
| 2021 £ 1,920 |
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ALMSHOUSE CHARITY OF JOHN SHAFTOE
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022
14. Statement of funds
Statement of funds - current year
| Unrestricted funds Designated funds Cyclical maintenance fund General funds General funds Total Unrestricted funds Endowment funds Endowment funds Total of funds |
Balance at 1 April 2021 £ 6,622 222,619 229,241 900,780 1,130,021 |
Income £ - 33,220 33,220 - 33,220 |
Expenditure £ (5,166) (23,001) (28,167) - (28,167) |
Gains/ (Losses) £ - 9,500 9,500 - 9,500 |
Balance at 31 March 2022 £ 1,456 |
|---|---|---|---|---|---|
| 242,338 | |||||
| 243,794 | |||||
| 900,780 | |||||
| 1,144,574 |
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ALMSHOUSE CHARITY OF JOHN SHAFTOE
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022
14. Statement of funds (continued)
Statement of funds - prior year
| Unrestricted funds Designated funds Cyclical maintenance fund General funds General funds Total Unrestricted funds Endowment funds Endowment funds Total of funds |
Balance at 1 April 2020 £ 8,565 165,992 174,557 900,780 1,075,337 |
Income £ - 35,101 35,101 - 35,101 |
Expenditure £ (1,943) (18,435) (20,378) - (20,378) |
Gains/ (Losses) £ - 39,961 39,961 - 39,961 |
Balance at 31 March 2021 £ 6,622 |
|---|---|---|---|---|---|
| 222,619 | |||||
| 229,241 | |||||
| 900,780 | |||||
| 1,130,021 |
The Cyclical maintenance fund was established to provide for the ordinary maintenance and repair of the almshouses.
Unrestricted funds comprise those funds which the Trustees are free to use in accordance with the charitable objectives.
Endowment funds represent the original endowment of the charity.
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ALMSHOUSE CHARITY OF JOHN SHAFTOE
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022
15. Analysis of net assets between funds
Analysis of net assets between funds - current year
| Tangible fixed assets Fixed asset investments Current assets Creditors due within one year Total Analysis of net assets between funds - prior year Tangible fixed assets Fixed asset investments Current assets Creditors due within one year Total |
Endowment funds 2022 Unrestricted funds 2022 £ £ 900,000 - - 222,254 780 23,556 - (2,016) 900,780 243,794 Endowment funds 2021 Unrestricted funds 2021 £ £ 900,000 - - 209,874 780 21,287 - (1,920) 900,780 229,241 |
Total funds 2022 £ 900,000 222,254 24,336 (2,016) 1,144,574 Total funds 2021 £ 900,000 209,874 22,067 (1,920) 1,130,021 |
|---|---|---|
16. Connected Charities
The Shaftoe Educational Foundation (The Foundation) is a connected charity. The two organisations have a common board of Trustees and were originally one charity, founded in 1685.
Balances due to the Foundation are disclosed in note 12. In addition:
1) the charity shares its office (see note 9) with the Foundation, at no charge; and
2) the charity uses the services of the Foundation's clerk, which are recharged at £2,240 (2021: £2,146).
3) the charity received a grant of £1,720 from Shaftoe Educational Foundation (see note 3).
The principal address of the Shaftoe Educational Foundation is Shaftoe Terrace, Haydon Bridge, Northumberland, NE47 6BW.
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