**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.
Page 2
**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:
1. accounting records were not kept in respect of the Trust as required by Section 130 of the Act; or
2. the accounts do not accord with those records; or
3. 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...
Page 7
**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...
Page 8
## **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...
Page 9
## **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...
Page 10
## **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...
Page 11
## **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.
Page 12
## **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
Page 13