REGISTERED CHARITY NUMBER: 510281
Report of the Trustees and
Unaudited Financial Statements for the Year Ended 30 April 2024
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 2024
| 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 | 12 |
| Detailed Statement of Financial Activities | 13 |
The Hebden Wright Almshouses Charity
Report of the Trustees for the Year Ended 30 April 2024
The Trustees present their report together with the financial statements of the Charity for the year ended 30 April 2024. 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.
All the properties were fully occupied during the year save for number 8 which was re-occupied on 1 June 2024 following the completion of necessary improvements after the death of a former resident.
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 and a further report has been commissioned to be carried out during 2024.
FINANCIAL REVIEW
Financial position
The Financial Statements continue to show consistent results that are in line with the expectations of the Trustees.
Maintenance contributions
In accordance with their normal procedure the Trustees reviewed the Maintenance Contributions at the Annual General Meeting held on 1 September 2023. After due consideration of the Charity's Budget and the Non-Statutory Valuation obtained from the Valuation Office Agency it was resolved that the Maintenance Contribution would be increased by a nominal £1 per week for the year commencing 1 May 2024.
Investment policy and objectives
A valuation of the Charity's investments was reviewed at the Annual General Meeting held on 1 September 2023. The valuation of £167,121 revealed a decrease of £5,206 compared with the value on 30 April 2023 after eliminating the effect of re-invested dividends of £1,432. The value on 30 April 2024 of £179,197 however showed an increase since the Annual General meeting of £7,912 after eliminating the effects of re-invested dividends of £4,164. Thus in the financial year under review the overall increase amounted to £2,706 after eliminating re-invested dividends of £5,596. In the four-year period from 30 April 2020 to 30 April 2024 the overall decrease in the value of the Charity's investments was £10,240 calculated on the same basis as above and after eliminating new investment.
As a result of the review of the Charity's investment arrangements referred to last year the Trustees resolved to make no further investments during the year under review and no further investments will be made in the current year until the proposed revised investment arrangements are in place.
Page 1
The Hebden Wright Almshouses Charity
Report of the Trustees for the Year Ended 30 April 2024
FINANCIAL REVIEW
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.
The Cyclical Maintenance Fund (CMF) to which transfers are also made from Income and Expenditure Account is retained to meet maintenance occurring at regular intervals e.g. external redecoration and the cost of professional fees in respect of quinquennial inspections.
In view of the Investment review referred to above the Trustees have made no transfers to either the ERF or CMF Funds which they believe to be adequate at the present time.
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 £926,005 together with Public Liability Indemnity (Limit £5 million), Legal Expenses Cover (limit £250,000) and Professional Indemnity and Loss Assistance (limit £100,000 each). In addition there is also cover for Management Protection which was increased during the year from a limit of £250,000 to revised limit of £1m.
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 and other legal documents are stored in safe custody at the offices of AWB Charlesworth Solicitors Limited of Aireside House Royd Ings Avenue Keighley BD21 4BZ.
Organisational structure
The body of Trustees shall, when complete, consist 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 local councillor previously proposed by Bradford Metropolitan District Council as their nominative Trustee did not accept the nomination and as a result there has been no Council nominative Trustee in place during the year. The Council have now approved Mrs Janice Murray as their nominative Trustee and she will take up her appointment on 1 October 2024.
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 endeavour 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.
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The Hebden Wright Almshouses Charity
Report of the Trustees for the Year Ended 30 April 2024
STRUCTURE, GOVERNANCE AND MANAGEMENT
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 Co-optative Trustee C G M Green Co-optative Trustee B Thompson Co-optative Trustee and Chairman Mrs S Thompson Co-optative Trustee Mrs S A Palmer
Independent Examiner
Helen Louise Barritt 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 3 October 2024 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 2024.
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
Stirk Lambert & Co Chartered Accountants Russell Chambers 61a North Street Keighley West Yorkshire BD21 3DS
3 October 2024
Page 4
The Hebden Wright Almshouses Charity
Statement of Financial Activities for the Year Ended 30 April 2024
| Unrestricted funds Notes £ INCOME AND ENDOWMENTS FROM Other trading activities 2 26,199 Investment income 3 12,693 Total 38,892 EXPENDITURE ON Other 4 11,430 NET INCOME 4 27,462 RECONCILIATION OF FUNDS Total funds brought forward 4 250,793 TOTAL FUNDS CARRIED FORWARD 4 278,255 |
Restricted funds £ - - - - - 450,000 450,000 |
30.4.24 Total funds £ 26,199 12,693 38,892 11,430 27,462 700,793 728,255 |
30.4.23 Total funds £ 24,755 (4,436) 20,319 12,477 7,842 692,951 700,793 |
|---|---|---|---|
The notes form part of these financial statements
Page 5
The Hebden Wright Almshouses Charity
Balance Sheet 30 April 2024
| Notes FIXED ASSETS Tangible assets 6 Investments 7 CURRENT ASSETS Debtors 8 Cash at bank 9 CREDITORS Amounts falling due within one year 10 NET CURRENT ASSETS TOTAL ASSETS LESS CURRENT LIABILITIES NET ASSETS FUNDS 11 Unrestricted funds Restricted funds TOTAL FUNDS |
Unrestricted funds £ - 179,197 179,197 117 100,683 100,800 (1,742) 99,058 278,255 278,255 |
Restricted funds £ 450,000 - 450,000 - - - - - 450,000 450,000 |
30.4.24 Total funds £ 450,000 179,197 629,197 117 100,683 100,800 (1,742) 99,058 728,255 728,255 278,255 450,000 728,255 |
30.4.23 Total funds £ 450,000 170,896 620,896 - 81,283 81,283 (1,386) 79,897 700,793 700,793 250,793 450,000 700,793 |
|---|---|---|---|---|
The financial statements were approved by the Board of Trustees and authorised for issue on 3 October 2024 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 2024
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.
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
30.4.24 30.4.23 £ £ Maintenance contributions 26,199 24,755
continued...
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The Hebden Wright Almshouses Charity
Notes to the Financial Statements - continued for the Year Ended 30 April 2024
3. INVESTMENT INCOME
| INVESTMENT INCOME | ||
|---|---|---|
| 30.4.24 | 30.4.23 | |
| £ | £ | |
| COIF dividends | 655 | 655 |
| Blackrock dividends | 2,866 | 2,731 |
| M&G dividends | 2,730 | 2,368 |
| Deposit account interest | 3,736 | 1,393 |
| Revaluation - COIF | 3,839 | 78 |
| Revaluation - Blackrock | (1,901) | (10,284) |
| Revaluation - M&G | 768 | (1,377) |
| 12,693 | (4,436) | |
| OTHER | ||
| 30.4.24 | 30.4.23 | |
| £ | £ | |
| Empty property costs | 209 | - |
| Repairs & general maintenance | 5,400 | 7,433 |
| Almshouse insurance | 1,217 | 936 |
| Christmas gifts | 188 | 161 |
| Accountancy | 774 | 762 |
| Subscriptions | 343 | 196 |
| Administration expenses | 3,299 | 2,989 |
| 11,430 | 12,477 |
4. OTHER
5. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the year ended 30 April 2024 nor for the year ended 30 April 2023.
Trustees' expenses
There were no trustees' expenses paid for the year ended 30 April 2024 nor for the year ended 30 April 2023.
6. TANGIBLE FIXED ASSETS
| TANGIBLE FIXED ASSETS | |
|---|---|
| COST At 1 May 2023 and 30 April 2024 NET BOOK VALUE At 30 April 2024 At 30 April 2023 |
Freehold property £ 450,000 |
| 450,000 | |
| 450,000 |
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.
continued...
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The Hebden Wright Almshouses Charity
Notes to the Financial Statements - continued for the Year Ended 30 April 2024
7. FIXED ASSET INVESTMENTS
| FIXED ASSET INVESTMENTS | |
|---|---|
| Listed | |
| investments | |
| £ | |
| MARKET VALUE | |
| At 1 May 2023 | 170,896 |
| Additions | 5,595 |
| Revaluations | 2,706 |
| At 30 April 2024 | 179,197 |
| NET BOOK VALUE | |
| At 30 April 2024 | 179,197 |
| At 30 April 2023 | 170,896 |
| There were no investment assets outside the UK. | |
| Additions of £5,595 are made up as follows: |
£2,866 Dividends reinvested in BLK Charities UK Bond Fund 'A' account £777 Dividends reinvested in M&G Charity Multi Asset Fund £1,952 Dividends reinvested in M&G Charity Charifund Accumulated Units
8. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
| Prepayments 9. CASH AT BANK Barclays current account COIF deposit account Total |
30.4.24 £ 117 30.4.24 Total funds £ 6,862 93,821 100,683 |
30.4.23 £ - 30.4.23 Total funds £ 6,198 75,085 |
|---|---|---|
| 81,283 |
continued...
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The Hebden Wright Almshouses Charity
Notes to the Financial Statements - continued for the Year Ended 30 April 2024
| 10. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Other creditors 11. MOVEMENT IN FUNDS At 1.5.23 £ Unrestricted funds Income fund 79,897 Extraordinary repair fund 79,158 Cyclical maintenance fund 91,738 250,793 Restricted funds Fixed assets 450,000 TOTAL FUNDS 700,793 Net movement in funds, included in the above are as follows: Incoming resources £ Unrestricted funds Income fund 30,591 Extraordinary repair fund 2,018 Cyclical maintenance fund 6,283 38,892 TOTAL FUNDS 38,892 |
30.4.24 30.4.23 £ £ 1,742 1,386 Net movement At in funds 30.4.24 £ £ 19,161 99,058 2,018 81,176 6,283 98,021 27,462 278,255 - 450,000 27,462 728,255 Resources Movement expended in funds £ £ (11,430) 19,161 - 2,018 - 6,283 (11,430) 27,462 (11,430) 27,462 |
|---|---|
continued...
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The Hebden Wright Almshouses Charity
Notes to the Financial Statements - continued for the Year Ended 30 April 2024
11. MOVEMENT IN FUNDS - continued
Comparatives for movement in funds
| Unrestricted funds Income fund Extraordinary repair fund Cyclical maintenance fund Restricted funds Fixed assets TOTAL FUNDS |
At 1.5.22 £ 65,571 85,285 92,095 242,951 450,000 692,951 |
Net movement in funds £ 14,326 (6,127) (357) 7,842 - 7,842 |
At 30.4.23 £ 79,897 79,158 91,738 |
|---|---|---|---|
| 250,793 450,000 |
|||
| 700,793 |
Comparative net movement in funds, included in the above are as follows:
| Unrestricted funds Income fund Extraordinary repair fund Cyclical maintenance fund TOTAL FUNDS A current year 12 months and prior year 12 months combined position Unrestricted funds Income fund Extraordinary repair fund Cyclical maintenance fund Restricted funds Fixed assets TOTAL FUNDS |
Incoming resources £ 26,803 (6,127) (357) 20,319 20,319 is as follows: At 1.5.22 £ 65,571 85,285 92,095 242,951 450,000 692,951 |
Resources Movement expended in funds £ £ (12,477) 14,326 - (6,127) - (357) (12,477) 7,842 (12,477) 7,842 Net movement At in funds 30.4.24 £ £ 33,487 99,058 (4,109) 81,176 5,926 98,021 35,304 278,255 - 450,000 35,304 728,255 |
Resources Movement expended in funds £ £ (12,477) 14,326 - (6,127) - (357) (12,477) 7,842 (12,477) 7,842 Net movement At in funds 30.4.24 £ £ 33,487 99,058 (4,109) 81,176 5,926 98,021 35,304 278,255 - 450,000 35,304 728,255 |
|---|---|---|---|
| 278,255 450,000 |
|||
| 728,255 |
continued...
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The Hebden Wright Almshouses Charity
Notes to the Financial Statements - continued for the Year Ended 30 April 2024
11. MOVEMENT IN FUNDS - continued
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 | 57,394 | (23,907) | 33,487 |
| Extraordinary repair fund | (4,109) | - | (4,109) |
| Cyclical maintenance fund | 5,926 | - | 5,926 |
| 59,211 | (23,907) | 35,304 | |
| TOTAL FUNDS | 59,211 | (23,907) | 35,304 |
12. RELATED PARTY DISCLOSURES
There were no related party transactions for the year ended 30 April 2024.
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The Hebden Wright Almshouses Charity
| Detailed Statement of Financial Activities | |||
|---|---|---|---|
| for the Year Ended 30 April 2024 | |||
| 30.4.24 | 30.4.23 | ||
| £ | £ | ||
| INCOME AND ENDOWMENTS | |||
| Other trading activities | |||
| Maintenance contributions | 26,199 | 24,755 | |
| Investment income | |||
| COIF dividends | 655 | 655 | |
| Blackrock dividends | 2,866 | 2,731 | |
| M&G dividends | 2,730 | 2,368 | |
| Deposit account interest | 3,736 | 1,393 | |
| Revaluation - COIF | 3,839 | 78 | |
| Revaluation - Blackrock | (1,901) | (10,284) | |
| Revaluation - M&G | 768 | (1,377) | |
| 12,693 | (4,436) | ||
| Total incoming resources | 38,892 | 20,319 | |
| EXPENDITURE | |||
| Other | |||
| Empty property costs | 209 | - | |
| Repairs & general maintenance | 5,400 | 7,433 | |
| Almshouse insurance | 1,217 | 936 | |
| Christmas gifts | 188 | 161 | |
| Accountancy | 774 | 762 | |
| Subscriptions | 343 | 196 | |
| Administration expenses | 3,299 | 2,989 | |
| 11,430 | 12,477 | ||
| Total resources expended | 11,430 | 12,477 | |
| Net income | 27,462 | 7,842 |
This page does not form part of the statutory financial statements
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