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Whitby Merchant Seamen’s Hospital Houses
Registered Charity No. 508014
Housing Corporation No. A4029
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Financial Accounts for the Year Ended 31 December 2023
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~ CHARITY COMMISSION |
- FIRST CONTACT
/ 2 AUG 2024
- RECORDED
, RECEIVED
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CHARITY COMMISSION
- FIRSTCONTACT —
ZT AUG 2024
ACCOUNTS
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Whitby Merchant Seamen’s Hospital Houses
Financial Accounts For The Year Ended 31 December 2023
Contents
1 Trustees Report
2 Report of the Independent Examiners
3 Income and Expenditure Account
4 Balance Sheet
5-8
Notes to the Accounts
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Whitby Merchant Seamen’s Hospital Houses
Report of the Trustees
The Trustees present their report together with the financial statements of the Charity for the year ended 31 December 2023.
Principal Activity and Taxation Status
The principal activity of the Charity for the year under review was that of being a registered social landlord. The charity is registered under number 508014, and has a tax exempt status.
Trustees
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The Trustees during the year were : .
Capt J J Robinson (deceased 14 November 2023) Capt G K Thomson Capt M Eglon Capt S Pringle Mr E Matthew Mr D J Millar (appointed 29 January 2024)
Statement of Trustees Responsibilities
Housing Association and Charity legislation require Trustees to prepare Financial Accounts for each financial year which give a true and fair view of the state of affairs of the Charity as at the end of the financial year and of the surplus or deficit for that period.
In preparing the Financial Accounts, suitable accounting policies have been adopted and consistently applied, to the best of the Trustees’ knowledge and belief, by reference to reasonable and prudent judgements and estimates.
Applicable accounting standards have been followed.
| The Trustees are responsible for maintaining adequate accounting records, for safeguarding the | assets of the Charity and for preventing and detecting fraud and other irregularities. The | Trustees are also required to indicate where the Financial. Accounts are prepared other than on the basis that the Charity is a going concern.
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On behalfof the Trustees
25 Marth 2024
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Independent Examiner’s Report to the Trustees Of Whitby Merchant Seamen’s Hospital Houses
We report on the financial accounts for the year ended 31 December 2023 on pages 3 to 8.
Respective Responsibilities of Trustees and Examiner
As described on page | the Charity’s Trustees are responsible for the preparation of Financial Accounts. It is our responsibility to examine the accounts under section 145 of the Charities Act, to follow the procedures laid down in the general Directions given by the Charity Commission (under section 145(5)(b) of the Charities Act) and state any particular matters that have come to our attention.
Basis of independent examiner’s statement
Our examination was carried out in accordance with general Directions given by the Charity Commission. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from the trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently no opinion is given as to whether the accounts present a ‘true and fair’ view and the report is limited to those matters set out in the statement below.
Independent examiner's statement
In connection with our examination, no matter has come to our attention
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- which gives us reasonable cause to believe that in, any material respect, the requirements: ° to keep accounting records in accordance with section 130 of the Charities Act; and
° to prepare accounts which accord with the accounting records and comply with the accounting requirements of the Charities Act have not been met; or
- to which, in our opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.
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Wasley Chapman LLP Chartered Accountants 5 Bobbies Bank Whitby North Yorkshire YO21 1EF
25 March 2024
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Whitby Merchant Seamen's Hospital Houses
Income and Expenditure Account For The Year Ended 31 December 2023
| , | Note: | Unrestricted | Restricted | 2023 | 2022 | |
|---|---|---|---|---|---|---|
| Funds | Funds | |||||
| £ | £ | £ | £ | |||
| Turnover | 93,648 | 93,648 | 86,317 | |||
| Net Operating Expenses | ||||||
| Administrative Expenses | 3 | 262,080 | 262,080 | 111,986 | ||
| Operating Surplus | 5 | (168,432) | (168,432) | (25,669) | ||
| Interest Receivable& Other Income | 4 | 2,335 | 2,335 | 804 | ||
| Surplus/(Deficit) on Ordinary Activities | ||||||
| Before and AfterTaxation | (166,096) | (166,096) | (24,865) | |||
| Transfers To (From) Designated Reserves | ||||||
| Extraordinary Repair Fund |
10 | (5,602) | (5,602) | (28,371) | ||
| Cyclical Maintenance Fund | 11 | (79,382) | (79,382) | 11,099 | ||
| Routine MaintenanceFund | 12 | 7,973 | 7,973 | (24,356) | ||
| 77,011 | 77,011 | 41,628 | ||||
| Surplus for the Year | ~ | (89,085) | (89,085) | 16,764 | ||
| Statement ofRetained Surplus | ||||||
| Retained Surplus Brought Forward | 422,506 | 422,506 | 405,742 | |||
| Surplus (Deficit) for the Year | (89,085) | (89,085) | 16,764 | |||
| RetainedSurplusCarriedForward | 333,421 | 333,421 | 422,506 |
None of the company's activities were acquired or discontinued during the above two financial years.
There were no recognised gains or losses other than the profit or loss for the above two financial years. The notes on pages 5 to 8 form part of these accounts.
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Signed on behalf pfthe Trustees
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| Approved by the Trustees on : 25 March 2024
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Whitby Merchant Seamen's Hospital Houses
| Balance Sheet | ||||||
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| As At 31 December | 2023 | |||||
| Notes | 2023 | 2022 | ||||
| £ | £ | £ | £ | |||
| FixedAssets | ||||||
| Housing Properties | 6 | 739,677 | 739,677 | |||
| Fixtures and Fittings | 7 | 7,065 | 7,850 | |||
| 746,742 | 747,527 | |||||
| Current Assets | ||||||
| Debtors | 8 | |||||
| BankAccounts | 427,547 | 592,808 | ||||
| 427,547 | $92,808 | |||||
| Creditors : Amounts falling due within one year | 9 | (1,550) | (1,500) | |||
| Net Current Assets | 425,997 | $91,308 | ||||
| Total Assets Less Current Liabilities | 1,172,739 | 1,338,835 | ||||
| Funds - Unrestricted | ||||||
| Incomeand ExpenditureAccount | 333,421 | 422,506 | ||||
| Extraordinary Repair Fund | 10 | 200,000 | 205,602 | |||
| Cyclical Maintenance Fund | 11 | 100,000 | 179,382 | |||
| Routine Maintenance Fund | 12 | 100,000 | 92,027 | |||
| Revaluation Reserve | 15 | 439,318 | 439,318 | |||
| 1,172,739 | 1,338,835 |
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Signed on behalf of t@ Trustees
Ae, © AS, bal Metin (Trustee)
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Approved by the Trustees on :
25 March 2024
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Whitby Merchant Seamen’s Hospital Houses
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For the YearNotesEndedto Accounts31 December 2023
1. Accounting Policies
The accounts have been prepared under the historical cost convention and in accordance with the statement of recommended practice for social landlords.
Housing Properties
Housing properties are stated at valuation, see note 6.
Tangible Fixed Assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life:
Fixtures and Fittings 10% on net book value ; Housing Properties Not depreciated
The company has a policy and practice of regular maintenance and repair of housing properties, so that their value does not diminish over time. The trustees consider that the remaining useful economic lives of the housing properties are in excess of 50 years, and that any depreciation charge would not have a material impact on the financial statements.
Cash Flow Statement
The Charity has taken advantage of the exemption provided by Financial Reporting Standard | and has not prepared a Cash Flow Statement for the Year.
Turnover
Represents rents receivable from housing units (Note 13).
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Whitby Merchant Seamen's Hospital Houses
Notes to Accounts For the Year Ended 31 December 2023
| 2 | EmployeeInformation | 2023 | 2022 |
|---|---|---|---|
| £ | £ | ||
| Honoraria | 11,690 | 10,264 | |
| The average weeklynumber ofemployees during the yearwas | was as follows: | ||
| 2023 | 2022 | ||
| No | No | ||
| Office Staff | 2 | 2 | |
| Other | oeoe | ee | |
| —— | > | ||
| 3 | Administrative Expenses | 2023 | 2022 |
| £ | £ | ||
| Honoraria | 11,690 | 10,264 | |
| CommitteeRoom Expenses | 1,195 | 1,000 | |
| Phone, Printing Stationery and Advertising | 237 | 167 | |
| Subscriptions | 715 | 614 | |
| Security Charges | 6,902 | 7,694 | |
| Property Repairs | 234,916 | 86,647 | |
| Insurances | 2,750 | 2,339 | |
| Sundry Expenses | 1,204 | 754 | |
| Accountancy | 1,550 | 1,500 | |
| Professional Fees | - | - | |
| Depreciation | 785 | 872 | |
| Bank Charges | 135 | 135 | |
| 262,080 | 111,986 | ||
| Interest Receivable& OtherIncome | 2023 | 2022 | |
| 4 | £ | £ | |
| Sundry Income | 115 | - | |
| Bank Interest Received | 2,221 | 581 | |
| Grants & Donations Received | - | 223 | |
| 2,335 | 804 | ||
| Operating Surplus | |||
| 5 | 2023 | 2022 | |
| The Operating Surplus is Stated after charging: | £ | £ | |
| Property Maintenance | 234,916 | 86,647 | |
| Depreciation ofTangible Fixed Assets | 785 | 872 | |
| Honoraria - note 2 | 11,690 | 10,264 | |
| AccountancyCharges | 1,550 | 1,500 |
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Whitby Merchant Seamen's Hospital Houses
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Notes to Accounts For the Year Ended 31 December 2023
6 Housing Properties for Letting
Total
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| Cost or Valuation | £ |
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| At 31 December 2022 | 739,677 |
| Improvements in Year | |
| Net Book Value | |
| At31December2023 | 739,677 |
The housing properties were revalued by Bell Snoxell Associates, a firm of professional Chartered Surveyors. The valuation has been based on the properties existing use. The housing properties were originally stated at the cost of improvements incurred on the properties, in the absence of an original purchase price, at £655,243, less associated housing association grants of £352,561
| 7 | Fixtures& Fittings | Fixtures& Fittings | Total | |
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| £ | ||||
| Cost | ||||
| At | January 2023 | |||
| Additions | ||||
| At 31 December 2023 | 26,927 | |||
| Depreciation | ||||
| At | January 2023 | © | ||
| Charge for Year | 785 | |||
| At 31 December 2023 | 19,862 | |||
| Net Book Value | ||||
| At 31 December2023 | 7,065 | |||
| At 31 December2022 | 7,850 | |||
| 8 | Debtors | 2,023 | ||
| £ | ||||
| Prepayments | - | |||
| 9 | Creditors | 2023 | 2022 | |
| £ | £ | |||
| Amounts falling due within one year: | ||||
| Accruals | 1,550 | 1,500 | ||
| Creditors | ||||
| 1,550 | 1,500 |
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) Whitby Merchant Seamen's Hospital Houses
Notes to Accounts
For the Year Ended 31 December 2023
| 10 Extraordinary RepairFund | 2023 | 2022 | ||
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| £ | £ | |||
| Balance at start ofyear | 205,602 | 233,973 | ||
| Transfer to (from) fund in year (page 3) | (5,602) | (28,371) | ||
| Balance at end ofyear | 200,000 | 205,602 | ||
| ! | 11 Cyclical Maintenance Fund | 2023 | 2022 | |
£ £ |
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| ! Balance at start of year 179,382 168,283 |
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| Transfer (from) to fund in year (page 3) | (79,382) | 11,099 | ||
| Balance at end ofyear | 100,000 | 179,382 | ||
| 12 Routine Maintenance Fund | 2023 | 2022 | ||
| £ | £ | |||
| Balance at start ofyear | 92,027 | 116,383 | ||
| Transferto fund in year (page 3) | 7,973 | (24,356) | ||
| Balance atend ofyear | 100,000 | 92,027 | ||
| 13 Rents | 2023 | 2022. | ||
| £ | £ | |||
| Rents Receivable | 93,648 | 86,317 | . | |
| 14 Homes and Bedspaces | 2023 | 2022 | ||
| £ | £ | |||
| Number ofunits in management | 20 | 20 | ||
| 15 Revaluation Reserve | 2023 | 2022 | ||
| £ | £ | |||
| Balance at 1 January 2023 | 439,318 | 439,318 | ||
| Revaluation during the year | ||||
| Balanceat31December2023 | 439,318 | 439,318 |
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