Charity Registered Number: 801604 HCA Registered Number:A3751 THE CHARITY OF EMMA RICE AND W E J KNIGHT (ALMSHOUSE NO.M1664) ACCOUNTS FOR THE YEAR ENDED 31st MARCH 2024
EMMA RICE AND W E J KNIGHT ANNUAL REPORT AND ACCOUNTS FOR THE YEAR ENDED 31st MARCH 2024 INDEX Page Admi nBtrative Informati)n Report of the Trustees Independent Examiners, R8POrt Accounting Policies statement of Financial ActivÉties Balance Sheet Notes to the Financial Statements 10- 12
A ANDwEJ KMGFfr ANNUAL REPORT ANDACCOUNTS FOR THE YEAR ENDED 31st MARCH 2024 Page 1 Legal andAdministrative information.. Charity Number: 801604 Almshouse Number: M1664 A TrMIr. A3751 Board of Trustees: Robert Goulbourne George Hook Bank: Barclays Bank Northampton Group PO Box 23 Northampton NN14YD Santander 1 Market Square Northampton NN1 2DN Solicitors.. Tollers 1 Waterside Way Bedford Road Northampton NN4 7XD Independerbt Examiner: Brenda Peers-Ross 29 Drift Road Selsey West Sussex P020 OPW
EMMA RICE AND W E J KNIGHT ANNUAL REPORT AND ACCOUNTS FOR THE YEAR ENDED 31st MARCH 2024 REPORT OF THE BOARD OF TRUSTEES Page 2 Admlnistrative Detalls These are reported on the previous page. Structure, Government and Management The charity is an unincorFX)rated association established under the Charty Commissions, scheme of 5th May 1986 as amended by the scheme of 27th January 1995 and subsequently the scheme of 11th January 2005. The Charty is also registered with the Almshouse Assoaation, registered number M1664 and is a registered social landlord with the Hwies and Communhies Agency registered number A3751. There were no resignations during the year Management The day-t(>day management of the housing Scheme continues to be delegated to EMH homes wllh whom a new management agreement was signed on 3rd September 2018. valid for S years. There were rK) thanges to the financial arrangements of the fomRr agreement. Govemanco The current trustees are responsible for the charity. The trustees meet at least four times a four times a year includes members from East Midland Housing (EMH) who, under the agreement, take care of the day-to-day management of the charity EMH reports on any repairs, maintenance, or any major refurbishments needed. The trustees, are responsible for agreeing to the work and authorisation of at these meetings. Public Benefit The trustees have had regard to the Charty cnmIssIOns, guldance on public benefit and, believe that 'Emma Rice and W E J KnTrght meets these requirements, by providing much needed am)mmodation to the poor In NorthamFlon. ObJactlve8 and Actlvltles The object of the charity is to provide economic accommodation for needy and elderfy persons who are ideally residents in Northampton. To this end, the Charity maintains twelve residential units in the two semi4etached properties known as Knight House the Briers in Collingwood Road, Northampton. The managing agent provides housing management, tenancy support and maintenance serVIS including letting, tenancy management, rent collection, rent arrears and paIrS ordering, work supervision and payment of service costs all according to the current agreement.
EMMA RICE AND W E J KNIGHT ANNUAL REPORT AND ACCOUNTS FOR THE YEAR ENDED 31st MARCH 2023 Page3 REPORT OF THE BOARD OF TRUSTEES Achievements and Performance During 2022 - 2023 the Charity objectNes were fulfilled with a high percentage of occupancy of the eleven units. This was not possible due to voids. In 2022 - 23 financial year, the Board started the process of planning kitchen refurbishments with our managing agent by agreeing the repairs and modifications and the budget. Financial Review The loss of unrestricted funds during the year amounted to £50,538 (surplus 2023: £10,243) of which £44,380 (2023: £37,362) is designaled for repairs and replacement. This is a reasonable increase over the last year arising from increases in the resident weekly maintenance contributions (rent equivalent). Presented and approved by the Board of Trustees at a committee meeting held on 201h November 2024 and signed on their behalf. Robert Goulboume ChairlTrustee
Brenda Peer8-R08S 29 Drift Road Selsey Chichester West Sussex P020 OPW Independent Examine3 Report to the Trustees of: EMMA RICE AND W E J KNIGHT (Almshouse) Reglsterod Charity Number:801604 I report on the accounts of the charity for the year ended 31" March 2024. which are set out on pages 6 to 12 of the financial report. Page 4 Thi5 report is made solely to the Trustees in accordance with Section 43(3) of the Charities Act 2011. My work has been undertaken so that I might state to the Trustees those matters which I am required to state to them in an independent examiner's report and for no other purpose. To fullest extent pemitted by law; I do not accept responsibilty to anyone other than the Trustees for my work, for this report, or for the opinions I have formed. Respective responsibilitie8 of trustees and examlner As described on page 5 the Charity's Trustees are responsible for the preparation of accounts., you consider that the audit requirements of Section 144 (2) of the Charitie8 Act 2011 (the Acl) does not apply. It is my responsibility to state, on the basis of procedures specified in the General Directions given by the Charity Commission under section 156 of the Act, whether particular matters have come to my attention. Basls of Independent ¢xaminer'$ statement My examination was carried out in accordance with general Direction8 given by the Charity Commission. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts, present&d with those records. It also includes consideration of any unusual items or disclosures of the accounts and seeking explanations from you as trustees conceming 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 lo whether the accounts present a 'lrue and fair view,. and the report is limited to those matters set out in the stat8m8nt below. Indep•ndant Examlner's 8tatem•nt I have completed my examination, I confimi that no matters have come to my attention.. which gives me reasonable cause to believe that in any malerial respect the requireTnents'. to keep accounting records in accordance with Section 130 of the Act; and to prepare accounts whlch accord with the accounting records and to comply with the accounting records of the Act have not been met. or in my opinion, attention should be drawn to enable a proper understanding of the accounts to be reached. Brenda Peers-Ross FMAAT, ACIE 19th December 2024
EMMA REANDwEJ IQ41GFrr Basls of preparatlon The financial statements of the charity, which is a public benefit entity under FRS 102, have been prepared in accordance with the Chariles SORP (FRS 102) Accountsng and Reporting by Charities.. Statement of Recommended Practice applicable to charities preparing their accounts in accordan with the Financial Reporting Standard applicable in UK and Republic of Ireland (FRS 102) (issued 1 st October 2019). Financial Reporting Standards 102 The Financial Reporting Standards applicable in the UK and Republic of Ireland and the Charities Act 2011, and the Housing SORP 214, Statement of recommended Practice for Registered Social Housing Providers and comply with the Accounting Direction for Private Registered Providers of S¢xial Housing 2015. The financlal statements have been prepared under the historical cost convention except for the fixed assets and inveslments which are included at market value. Emma Rice and W E J Knight (Almshouse No, M1664) is an unincorporated charity, registered in England and Wales. The registered charlty number is 80104, The presenlational currency of the financial statements is Pound Sterling (£). Public Benefit The objectives and activity of the charity meet the criteria to enable the charity to be a public benefit entity. Dlsclosure Exemptions The financial statements have adopted the following disclosure exemptions.. The requirement to present a statement of cash flows and related notes. Financial Instruments disclosure including. categories of financlal instruments; items of income, expenses, gains, and losses relating to flnanGial instruments, and exposure to and management of financial risk. License fees and service charges LinSe fees and service charges are brought to accounts on a receivable basis. Investment Income Interest is brought into account on a receivable basis and dividend income on a receivable basis.
EMMA RICE AND W E J KNIGHT Page 6 Flxed Assets Depreciation is calculated to write down the costs or valuation of all tangible assets by equal annual instalments over the expected useful lives. In the case of Ihe propety this is 45 years. The propety is held for the use in the supply of the services conducted by the charity. Fixed assets are stated at fair value at the date of revaluation less accumulated depreciation and accumulated impairment losses. Where parts of an item of the property have different useful lives, they are accounted for as separate rtems of property Valuations are conducted every 5 years by professionally qualified estate agents to ensure that the carrying amount does not differ materially from the fair value of the asset at the end of the reporting period. Depreciation methods, useful lives and residual value8 are revIeV at each balance sheet date. The selection of these residual values and estimated lives requires the exercise of judgement. The trustees are required to assess whether there is an indication of impairment to the carrying value of assets. In making that assessment, judgements are made in estimating value in use. The trustees that the individual carrying value of assets are supportable by their value in use. Investments Investments are included at market value. Financial Instruments Cash and cash equivalents in the balance sheet (financial position) comprise cash at bank and in hand short-term deposits with an original maturity date of three months or less. Debtors and creditors with no stated interest rate and recelvable or payable within one year are recorded at Iransaction price. Any losses arising from impairment are recognised in the statement of comprehensive income under administrative expenses. Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all its financial liabilities.
EMMA RICE AND W E J KNIGHT Page 7 FOR THE YEAR ENDED 31ST MARCH 2024 PRINCIPAL ACCOUNTING POLICIES Where the contractual obligations of finanGial instruments are equivalent to a similar debt instrument those financial instruments are classed as financial liabilities. Financial liabilities are presented as such in the balance sheet. Finance cost and gains or losses relating to financial liabilities are included in the SOFA. Financial costs are calculated so as to produce a constant rate of retum on the outstanding liability. Provisions Provisions for cyclical and exceptional repairs costs and for fixed assets renvwal and replacement are calculated each year to establish adequate funds to meet such expenditure. Provisions are made for other committed expenditure to the extent that it 18 considered necessary to ensure adequate funds are available. Reserve Pollcies The current reserve policy is to maintain sufficient cash flow for known commitment, rePlament of certain assets and building funds. Risk Assessment The charity does not believe it is subject to any substantial risk beyond liabilities disclosed in its Annual Report and Accounts. The charty has public liabilily insurance to protect it in the case of a claim. Fundlng Accounting Funds held by the charity are either: Unrestricted general funds these are funds that may be used in accordance with the charitable objects at the decisions of the Board of Trustees. Designaled funds these are funds set aside by the Trustees out of unrestricted funds for specific future purposes or projects. Restricted funds these are funds that may only be used for restricted purposes within the object5 of the Charity. Restriction arise when specified by the donor or when funds are raised for particular restricted purpose.
EMMA RICE &W E J KNIGHT.ALMSHOUSE NO M1664 STATEMENT OF FINANCIAL ACTIVITES FOR THE YEAR ENDED 31ST MARCH 2024 Page 8 ufire¥tflctod Regtrlcted ETrda*mo Total Totsl 2023 2024 Incomlnq Regources Liconce fé88 and serrfrE charges Interest Dividends Sundry r8CeiPts Total In¢oming Rosourcés 49,529 3,486 49,529 3.486 198 1.088 S4,301 48,522 599 60 1,366 50,547 1,088 54,301 Resourcu EXndId Window ¢lean8r Insuranc Sundrie$ and subscriptions CVS charges Indépèndent examin8rs remuneration emh Homes services and support Management ¢h8rgo R8movalions Depreciation Total R••ourco8 Expend•d 432 3,472 1,359 820 2CIO 432 3,472 1,359 820 200 270 2.310 414 587 800 14.294 84.282 14,294 84.282 23,704 128,543 12.130 23,704 23,704 23,704 40,215 104,839 Galnsl{10$88s1 on rovalbjation of invaslm8nts (89) Net in¢ominW(exndttUr9) 150,538) (23.7041 174,242 10,243 Transfer beeTh funds Movement in th• y•ar (50,538) (23,704) 174,242) 10.243 Bal3nco at 1st April 2023 363,980 1,434,847 1.798.827 1,788,584 Balanco •t 31•t March 2024 313 1411,143 1,724.5JS 1,798,827
EMMA RSCE & W E J KNIGHT . ALMSHOUSE NO M1664 BALANCE SHEET FOR THE YEAR ENDED 31ST hlARCH 2024 Pag• 9 UnY•8¢fiGt•d R•trl¢ied Endownwnt Tatal Total 2023 1024 Fixed Assets Freehold Land and Buildings Investmenls 1,410,368 1,410,368 1,434,072 776 775 775 1,411,143 1,411.143 1,434,847 Curr•nt A••ots Debtor8 Bank current account Busine86 Premlum aGGount Santander account FurKls held by omh Group 1.246 4,233 260,065 12,085 36,323 313.g42 1,248 4.233 260,0S5 12,085 36,323 313.942 1,245 4,700 272.298 12.023 74.616 364,880 Croditory - Amounts falllng due wlthln on• y•or 500 500 900 Net Currnnt As$•ts 313.442 313.442 363.980 TOTAL ASSETS LESS CURREIIT LIABILITIES 1M11,143 1.724,585 1 798.827 FUN08 7&8 11143 1,724,$85 1,798.827 The financial statèments wern approv8d by th8 Trustees tsn 201h November 2024, and signed on their behalf by: Robert Goull)ourne Chairrrruts•
EMIAA RICE & W EJ KNIGHT- ALMSHOUSE NO M1664 NOTES TO THE ACCOUNTS FQR THE YEAR ENOED 31ST MARCH 2024 Page 10 Tanglbh Flxed A$8ets Frnghold Lxnd & Bulldlng6 Cost or Valuatlon At l April 2Q23 R8110n At 31 March 2024 1,6IXJ,000 1,600,000 D•prncialion At 1 April 2023 CIFarge for the year Revaluation At 31 March 2024 165,928 23.704 189,632 N•t B<>ok Amount At 31 March 2024 1A10.368 At 31 March 2023 1434.072 The above valuation given in a quinquennlal inspectlon reported by Andrew Granger & Co, Chartered SuTveyor8 carried otrt on 4th May 201e bul with the ob8èNation that as the property is Ihe maln endcnymont of ihe charity any practtC81 application of Ihi6 valuation would bg restricted. On the hlgtorical cost basis of accounting the propety would be 81@ted 81 a net book value of £157,275 8131 st March 2024.. Fixtures and frttings have not been c8pltalls•d. The trustees boli8ve that the co818 and efforts Involved in a8certalnlng Iheir value for inGluswJn in the accounts would be exces8ive in proportion to the value Involved and it is IherefoTe impractical to Include them. Flxgd As••ts Inv•8lm•ntg At Co•t 2023 & 2024 At Market Value 2023 2023 660 Taylor Wc*>Jrow PIC shares Gainl(10gses) on mobl(et valuatlon 165 775 89 775 165 775 In Ociober 2003. Wilson {Connolty) Holding$ vM8 a¢qulred by Taylor Woodrow plc, The offor included 200p per Share cash and 0.132 new 25p 8hare8 in Taylor Woodrow pl¢. The cash was received by Ihls charlty in May 2004. Debtor• 2024 2023 PPayMentS Other- emh Group 1,246 36,323 1,245 74.616 75.861
EMMA RICE & W E J KNIGHT. ALMSHOUSE NO M1664 NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31ST MARCH 2024 Pago 11 Cr•dltors: Amounts falling du• wlthln one year 2024 2023 Oth•r credltor• Other ruals 500 51)0 900 900 Provl8lon• and dgslgnatod roMrvas Oponing G•nor•l fvb From Clo$lng Fundj h•ld by lanc• Charity omh Group To Repl8cemgnls F & F RePlament cleaning •qulpment Replacement corpets. floor8 Replacement loose furnl8hlngs Replacement cooker l fridge Replacement wa$h¢r I dryer Replaoement Piper system Rop*emenl Gh8lr11ft8 Boiler I he8tlng system Rep8irs. upgrades Euro bins Fire alami systsrn Aerial 2.160 443 1,488 4.922 224 3,024 7,424 11,152 4,375 705 25 474 2,885 468 2,885 457 1,960 4,779 224 11 4,922 224 143 (3,024> 1,211 761 8,e35 11,913 4,643 3,524 74 4,345 807 8,549 11,290 86 623 97 600 3,024 3,524 74 4,239 785 43.292 74 4,045 300 23 4,267 22 1,088 ComparaUv• lor 2023 Proviglons and D••lgnatod Re•orv8• Provl•lon and 0olgnat•d RejerS Op•nlng Balan Clo•lng Fund8 hold by B•l•nc• Chartty omh Group From To Replacement8 F & F ReplarAm¢nl cleaning equiprneni Repl0ment carpets, floors Replment IoL)8e fumi$hing$ Repla¢ement cooker l frKlge Replacemenl wa¥her I dryer Intomal redecoratSon commuTral Replacement Piper syst8m Replacement chair lifts Boll¢r I heating 8tern Euro bins File 818m system Aerials 1,455 418 1,012 4,922 224 3.024 705 25 474 2,160 443 1,486 4.922 224 3,Q24 2,180 431 1,486 4.899 224 3,024 12 223 e.213 10,391 4,106 74 3,746 761 36.346 1,212 761 268 7,425 11,152 4,374 74 4.Q45 6.033 10,483 4.254 74 3,908 586 1,392 120 299 23 137 198 2.751 40,113
EMMA RICE & W E J KNIGHT- ALMSHOU8É NO M1664 NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31ST MARCH 2024 Pago 12 Unrestrt Funds N4)t•• Broughl Not Forward Movpmonto Transf•rn Carrlgd Forward Provisions I deslgnaled funds General fvnds 40,113 323,88 383,979 4,267 154,805 SO,S3B 44,380 269,061 ComraV• for 2023 UnT•4tr1ctsd Fundj Brought N•t FoThrnrd Mov0mgnt• Trarffjfarn Caffl¢d Forward Pfovi8ion8 1 designated funds General funds 36,346 293,597 329,943 3,767 30,269 34,036 40,113 323,866 363,980 Endowm•Trt Fund• Endowment lunds comprlse Investments that have been bequeathed to the chgrity in legacie8. 8rougl Mo¥•monl¥ Mt)Y•mgnl• FOd In thang• In Mark•1 V•lu TMMl•r• C•nl•d Fornard Inve8trnent8 Property fund.. - at NBV on hlslortcal c061 - revaluation reseNe 775 775 158.408 1,274,684 1.434.847 (2.133) 21.571 23.704 157,275 1,253,093 1411,143 Comparativ• for 2023 Evdovnnont Fund• Brouglrt Mov•m•nts Plov•ffl•nb Ckn4ny• In Forward Ou¢ rk•t Vall TraMf•rn Forar¢ Investment9 Property fund: - at NBV on histerical c081 - revaluation reserve 864 {89) 775 161.541 1,29e.235 1,458,640 (2,133) 21,571 23,704 159,408 1.274,664 1,434,847 89 Tru•t•ts and Employee The Charity has no pai¢J employe8$12023: nil empbyoesl since Ihe property is rnanag on beha of the Ttuslees by the emh8 group. The Trusto0s alo nol remunerated and total expendlture reimbursed to the Trusts amounted to £nil (2023: £nil Temuneiation$ and wpenses reimbursed). 9 UIUmat¢ Controlllng Party The Gharity is under the ultimate control of its Trustee$ who are narned In the Annual Report.