REGISTERED CHARITY NUMBER: 510281
Report of the Trustees and
Unaudited Financial Statements for the Year Ended 30 April 2021
for
The Hebden Wright Almshouses Charity
Stirk Lambert & Co Chartered Accountants Russell Chambers 61a North Street Keighley West Yorkshire BD21 3DS
The Hebden Wright Almshouses Charity
Contents of the Financial Statements for the Year Ended 30 April 2021
| Page | |||
|---|---|---|---|
| Report of the Trustees | 1 | to | 3 |
| Independent Examiner's Report | 4 | ||
| Statement of Financial Activities | 5 | ||
| Balance Sheet | 6 | ||
| Notes to the Financial Statements | 7 | to | 11 |
| Detailed Statement of Financial Activities | 12 |
The Hebden Wright Almshouses Charity
Report of the Trustees for the Year Ended 30 April 2021
The Trustees present their report together with the financial statements of the Charity for the year ended 30 April 2021. The trustees have adopted the provisions of Accounting and Reporting by Charities: 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)(effective 1st January 2015.
OBJECTIVES AND ACTIVITIES
Objectives and aims
The Charity was established to provide almshouses for poor and aged persons who (except in special cases to be approved by the Charity Commissioners) are inhabitants of the Ecclesiastical Parish of St John the Evangelist, Ingrow with Hainworth. The Trustees hold regard to the Charity Commission's guidance on public benefit.
ACHIEVEMENT AND PERFORMANCE
Charitable activities
The Trustees and the Clerk actively manage the properties and maintain close contact with the residents so as to ensure that any necessary maintenance and repairs or other matters requiring attention are promptly dealt with. In addition the Clerk ensures that all statutory requirements and safety inspections are carried out in a timely manner.
The Trustees make an annual visit to the almshouses with a view to checking the condition of the properties and to enable them to meet the residents and listen to any matters of concern. A Quinquennial Condition Report prepared by a qualified Architect is provided to assist the Trustees in properly maintaining the properties to an acceptable standard. The latest such Report was issued in November 2019.
FINANCIAL REVIEW
Financial position
The Financial Statements continue to show consistent results that are in line with the expectations of the Trustees.
Maintenance contributions
Following the Annual General Meeting held virtually on 23 October 2020, at a (virtual) Special Meeting held on 9 March 2021 the Trustees reviewed the level of Weekly Maintenance Charges taking into account the Charity's Budget and the revised Non Statutory Valuation obtained from the Valuation Office Agency. It was resolved that the Maintenance Contribution should be increased by £2 per week to £83 with effect from 1 May 2021.
Investment policy and objectives
The Trustees deferred their normal detailed review of the Charity's investments at the Annual General Meeting held on 23 October 2020. However they were reviewed at the Special Meeting held virtually on 9 March 2021. At that meeting it was resolved to withdraw £54,000 from the Cash Deposit Account which was to be invested as part of a total re-balancing of the spread the Charity's investment holdings. The overall gain on investments over the year (excluding re-invested dividends and new investment) amounted to £3,094.
The Trustees see no reason to change their current investment policy.
Reserves policy
The Charity has in place a reserves policy and normally makes a contribution to the Extraordinary Repair Fund (ERF). This is a reserve fund for future major expenditure to which transfers are made from Income and Expenditure Account. It can be drawn upon to meet major items of repair or improvements to the almshouses by application to the Fund Managers without the prior consent of the Charity Commissioners. At the Special Meeting held on 9 March 2021 it was agreed to make a contribution to the ERF of £6,000.
The Cyclical Maintenance Fund (CMF) to which transfers are made from Income and Expenditure Account is retained to meet maintenance occurring at regular intervals e.g. external redecoration etc. During the year £4,000 was transferred to the CMF.
Insurances
The Trustees maintain an Almshouse Insurance Policy to cover both the value of the Buildings (but not residents' contents) for a sum insured of £697,444, Public Liability Indemnity (Limit £5 million) and Charity & Charity Trustee Liability Insurance (indemnity limit £250,000).
Page 1
The Hebden Wright Almshouses Charity
Report of the Trustees for the Year Ended 30 April 2021
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
The Charity is controlled by its Governing Document, a Deed of Trust, and constitutes an unincorporated charity.
The Hebden Wright Almshouses Charity was founded by the Will of Hebden Wright proved at Wakefield on 14 August 1914 and comprised in Schemes of the Charity Commissioners of 11 August 1916, 11 April 1924, 14 February 1983 and 6 August 1993.
The Charity's documents of title are stored in safe custody at the offices of AWB Charlesworth Solicitors Limited of 12-16 North Street, Keighley, West Yorkshire.
Trustees
The Trustees were saddened to learn of the death of former and long serving Trustee Mr J B Hopkinson who had served the Charity for many years.
Organisational structure
The body of Trustees shall consist when complete of six competent persons who through residence, occupation or employment or otherwise have special knowledge of the area of the Ecclesiastical Parish of St John the Evangelist Ingrow with Hainworth being one Nominative Trustee and five Co-optative Trustees. The Nominative Trustee shall be appointed by Bradford Metropolitan District Council and each appointment shall be made for a term of four years. The person appointed may be but need not be a member of the Council. Every future Co-optative Trustee shall be appointed for a term of five years by a resolution of the Trustees passed at a Special Meeting of which not less than fourteen days' notice has been given and may be so appointed not more than one month before the term of an existing Co-optative Trustee expires with effect from the date of expiry but so that the latter shall not vote on the matter.
The Trustees have held one Ordinary meeting and three Special Meetings during the year.
The Charity is the owner of six almshouses situated at 2 to 12 Dorothy Street Hermit Hole Keighley West Yorkshire. When there is a vacancy the Trustees try to find a resident who is an inhabitant of the Ecclesiastical Parish of St John the Evangelist Ingrow with Hainworth for appointment of an almsperson the length of time of residence being at the discretion of the Trustees.
Related parties
The Charity has no related parties.
Plans for future periods
The trustees will continue their policy of upgrading the bathroom and kitchen in each dwelling as and when a vacancy occurs or when the need arises in order to meet the criteria referred to in the Decent Homes Standard of providing modern facilities and services.
REFERENCE AND ADMINISTRATIVE DETAILS
Registered Charity number
510281
Principal address
c/o Mrs S Hobson 33 Hospital Road Riddlesden KEIGHLEY West Yorkshire BD20 5EP
Trustees
A M Wade Chairman and Co-optative Trustee Mrs C E Barker Co-optative Trustee C G M Green Co-optative Trustee B Thompson Co-optative Trustee Mrs S Thompson Co-optative Trustee Mrs M K Cull Nominative Trustee
Page 2
The Hebden Wright Almshouses Charity
Report of the Trustees for the Year Ended 30 April 2021
REFERENCE AND ADMINISTRATIVE DETAILS Independent Examiner
Helen Louise Barritt FMAAT Stirk Lambert & Co Chartered Accountants Russell Chambers 61a North Street Keighley West Yorkshire BD21 3DS
Bankers
Barclays Bank Plc 77 North Street Keighley West Yorkshire BD21 3SA
Approved by order of the board of trustees on 17 September 2021 and signed on its behalf by:
B Thompson - Trustee
Page 3
Independent Examiner's Report to the Trustees of The Hebden Wright Almshouses Charity
Independent examiner's report to the trustees of The Hebden Wright Almshouses Charity
I report to the charity trustees on my examination of the accounts of The Hebden Wright Almshouses Charity (the Trust) for the year ended 30 April 2021.
Responsibilities and basis of report
As the charity trustees of the Trust 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 Act and in carrying out my examination I have followed all 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:
-
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 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.
Helen Louise Barritt FMAAT Stirk Lambert & Co Chartered Accountants Russell Chambers 61a North Street Keighley West Yorkshire BD21 3DS
17 September 2021
Page 4
The Hebden Wright Almshouses Charity
Statement of Financial Activities for the Year Ended 30 April 2021
| Unrestricted funds Notes £ INCOME AND ENDOWMENTS FROM Other trading activities 2 22,883 Investment income 3 6,671 Total 29,554 EXPENDITURE ON Charitable activities Governance costs 213 Other 7,066 Total 7,279 NET INCOME 22,275 RECONCILIATION OF FUNDS Total funds brought forward 222,901 TOTAL FUNDS CARRIED FORWARD 245,176 |
Restricted funds £ - - - - - - - 450,000 450,000 |
30.4.21 Total funds £ 22,883 6,671 29,554 213 7,066 7,279 22,275 672,901 695,176 |
30.4.20 Total funds £ 24,715 4,935 |
|---|---|---|---|
| 29,650 116 12,618 |
|||
| 12,734 | |||
| 16,916 655,985 |
|||
| 672,901 |
The notes form part of these financial statements
Page 5
The Hebden Wright Almshouses Charity
Balance Sheet 30 April 2021
| Notes FIXED ASSETS Tangible assets 5 Investments 6 CURRENT ASSETS Stocks 7 Cash at bank 8 CREDITORS Amounts falling due within one year 9 NET CURRENT ASSETS TOTAL ASSETS LESS CURRENT LIABILITIES NET ASSETS FUNDS 10 Unrestricted funds Restricted funds TOTAL FUNDS |
Unrestricted funds £ - 169,551 169,551 2,153 75,476 77,629 (2,004) 75,625 245,176 245,176 |
Restricted funds £ 450,000 - 450,000 - - - - - 450,000 450,000 |
30.4.21 Total funds £ 450,000 169,551 619,551 2,153 75,476 77,629 (2,004) 75,625 695,176 695,176 245,176 450,000 695,176 |
30.4.20 Total funds £ 450,000 99,605 549,605 2,153 123,177 125,330 (2,034) 123,296 672,901 672,901 222,901 450,000 672,901 |
|---|---|---|---|---|
The financial statements were approved by the Board of Trustees and authorised for issue on 17 September 2021 and were signed on its behalf by:
B Thompson - Trustee
C G M Green - Trustee
The notes form part of these financial statements
Page 6
The Hebden Wright Almshouses Charity
Notes to the Financial Statements for the Year Ended 30 April 2021
1. ACCOUNTING POLICIES
Basis of preparing the financial statements
The financial statements of the charity, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities: 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) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Charities Act 2011. The financial statements have been prepared under the historical cost convention, with the exception of investments which are included at market value, as modified by the revaluation of certain assets.
Income
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.
Expenditure
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, 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 accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.
Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.
Taxation
The charity is exempt from tax on its charitable activities.
Fund accounting
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.
Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.
Hire purchase and leasing commitments
Rentals paid under operating leases are charged to the Statement of Financial Activities on a straight line basis over the period of the lease.
2. OTHER TRADING ACTIVITIES
| OTHER TRADING ACTIVITIES | ||
|---|---|---|
| 30.4.21 | 30.4.20 | |
| £ | £ | |
| Maintenance contributions | 22,883 | 24,715 |
continued...
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The Hebden Wright Almshouses Charity
Notes to the Financial Statements - continued for the Year Ended 30 April 2021
3. INVESTMENT INCOME
| INVESTMENT INCOME | ||
|---|---|---|
| 30.4.21 | 30.4.20 | |
| £ | £ | |
| COIF dividends | 630 | 479 |
| Blackrock dividends | 2,495 | 2,921 |
| M&G dividends | 358 | 379 |
| Deposit account interest | 95 | 661 |
| Revaluation - COIF | 4,598 | (572) |
| Revaluation - Blackrock | (3,505) | 2,373 |
| Revaluation - M&G | 2,000 | (1,306) |
| 6,671 | 4,935 |
4. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the year ended 30 April 2021 nor for the year ended 30 April 2020.
Trustees' expenses
| 30.4.21 £ Trustees' expenses 113 TANGIBLE FIXED ASSETS COST At 1 May 2020 and 30 April 2021 NET BOOK VALUE At 30 April 2021 At 30 April 2020 |
30.4.20 £ 116 Freehold property £ 450,000 |
|---|---|
| 450,000 | |
| 450,000 |
5. TANGIBLE FIXED ASSETS
The property was valued at £450,000 on 12th September 2016 by Hayfield Robinson Property Consultants of Keighley. The trustees are of the opinion that the value of the property has not changed significantly since then.
6. FIXED ASSET INVESTMENTS
| FIXED ASSET INVESTMENTS | |
|---|---|
| Listed | |
| investments | |
| £ | |
| MARKET VALUE | |
| At 1 May 2020 | 99,605 |
| Additions | 66,852 |
| Revaluations | 3,094 |
| At 30 April 2021 | 169,551 |
| NET BOOK VALUE | |
| At 30 April 2021 | 169,551 |
| At 30 April 2020 | 99,605 |
There were no investment assets outside the UK.
continued...
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The Hebden Wright Almshouses Charity
Notes to the Financial Statements - continued for the Year Ended 30 April 2021
6. FIXED ASSET INVESTMENTS - continued
Additions of £66,852 are made up as follows:
| £2,494 Dividends reinvested in BLK Charities UK Bond Fund 'A' account £10,000 Purchase of shares in BLK Charities UK Bond Fund 'A' account £22,000 Purchase of shares in COIF Investment Fund £358 Dividends reinvested in M&G Charity Multi Asset Fund £6,000 Purchase of shares in M&G Charity Multi Asset Fund £26,000 Purchase of shares in M&G Charity Charifund 7. STOCKS Stocks 8. CASH AT BANK Barclays current account COIF deposit account Total 9. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Other creditors 10. MOVEMENT IN FUNDS Net movement At 1.5.20 in funds £ £ Unrestricted funds Income fund 69,296 16,329 Extraordinary repair fund 80,772 915 Cyclical maintenance fund 72,833 5,031 222,901 22,275 Restricted funds Fixed assets 450,000 - TOTAL FUNDS 672,901 22,275 |
30.4.21 £ 2,153 30.4.21 Total funds £ 14,335 61,141 75,476 30.4.21 £ 2,004 Transfers between funds £ (10,000) 6,000 4,000 - - - |
30.4.20 £ 2,153 30.4.20 Total funds £ 8,131 115,046 |
||
|---|---|---|---|---|
| 123,177 | ||||
| 30.4.20 £ 2,034 At 30.4.21 £ 75,625 87,687 81,864 |
||||
| 245,176 450,000 |
||||
| 695,176 |
continued...
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The Hebden Wright Almshouses Charity
Notes to the Financial Statements - continued for the Year Ended 30 April 2021
10. MOVEMENT IN FUNDS - continued
Net movement in funds, included in the above are as follows:
| Unrestricted funds Income fund Extraordinary repair fund Cyclical maintenance fund TOTAL FUNDS Comparatives for movement in funds Unrestricted funds Income fund Extraordinary repair fund Cyclical maintenance fund Restricted funds Fixed assets TOTAL FUNDS |
At 1.5.19 £ 66,174 72,406 67,405 205,985 450,000 655,985 |
Incoming resources £ 23,608 915 5,031 29,554 29,554 Net movement in funds £ 13,122 4,366 (572) 16,916 - 16,916 |
Resources Movement expended in funds £ £ (7,279) 16,329 - 915 - 5,031 (7,279) 22,275 (7,279) 22,275 Transfers between At funds 30.4.20 £ £ (10,000) 69,296 4,000 80,772 6,000 72,833 - 222,901 - 450,000 - 672,901 |
|---|---|---|---|
Comparative net movement in funds, included in the above are as follows:
| Incoming | Resources | Movement | |
|---|---|---|---|
| resources | expended | in funds | |
| £ | £ | £ | |
| Unrestricted funds | |||
| Income fund | 25,856 | (12,734) | 13,122 |
| Extraordinary repair fund | 4,366 | - | 4,366 |
| Cyclical maintenance fund | (572) | - | (572) |
| 29,650 | (12,734) | 16,916 | |
| TOTAL FUNDS | 29,650 | (12,734) | 16,916 |
continued...
Page 10
The Hebden Wright Almshouses Charity
Notes to the Financial Statements - continued for the Year Ended 30 April 2021
10. MOVEMENT IN FUNDS - continued
A current year 12 months and prior year 12 months combined position is as follows:
| Unrestricted funds Income fund Extraordinary repair fund Cyclical maintenance fund Restricted funds Fixed assets TOTAL FUNDS |
At 1.5.19 £ 66,174 72,406 67,405 205,985 450,000 655,985 |
Net movement in funds £ 29,451 5,281 4,459 39,191 - 39,191 |
Transfers between funds £ (20,000) 10,000 10,000 - - - |
At 30.4.21 £ 75,625 87,687 81,864 |
|---|---|---|---|---|
| 245,176 450,000 |
||||
| 695,176 |
A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:
| Incoming | Resources | Movement | |
|---|---|---|---|
| resources | expended | in funds | |
| £ | £ | £ | |
| Unrestricted funds | |||
| Income fund | 49,464 | (20,013) | 29,451 |
| Extraordinary repair fund | 5,281 | - | 5,281 |
| Cyclical maintenance fund | 4,459 | - | 4,459 |
| 59,204 | (20,013) | 39,191 | |
| TOTAL FUNDS | 59,204 | (20,013) | 39,191 |
11. RELATED PARTY DISCLOSURES
There were no related party transactions for the year ended 30 April 2021.
Page 11
The Hebden Wright Almshouses Charity
| Detailed Statement of Financial Activities | |||
|---|---|---|---|
| for the Year Ended 30 April 2021 | |||
| 30.4.21 | 30.4.20 | ||
| £ | £ | ||
| INCOME AND ENDOWMENTS | |||
| Other trading activities | |||
| Maintenance contributions | 22,883 | 24,715 | |
| Investment income | |||
| COIF dividends | 630 | 479 | |
| Blackrock dividends | 2,495 | 2,921 | |
| M&G dividends | 358 | 379 | |
| Deposit account interest | 95 | 661 | |
| Revaluation - COIF | 4,598 | (572) | |
| Revaluation - Blackrock | (3,505) | 2,373 | |
| Revaluation - M&G | 2,000 | (1,306) | |
| 6,671 | 4,935 | ||
| Total incoming resources | 29,554 | 29,650 | |
| EXPENDITURE | |||
| Charitable activities | |||
| Sundries | 100 | - | |
| Other | |||
| Empty property costs | 323 | - | |
| Quinquennial survey fee | - | 900 | |
| General maintenance | 2,361 | 1,168 | |
| Almshouse insurance | 838 | 890 | |
| Christmas gifts | 164 | 140 | |
| Accountancy | 630 | 600 | |
| Subscriptions | 182 | 179 | |
| Trustee indemnity insurance | - | 121 | |
| Administration expenses | 2,568 | 1,420 | |
| Re-surfacing car park | - | 7,200 | |
| 7,066 | 12,618 | ||
| Support costs | |||
| Other | |||
| Trustees' expenses | 113 | 116 | |
| Total resources expended | 7,279 | 12,734 | |
| Net income | 22,275 | 16,916 |
This page does not form part of the statutory financial statements
Page 12