The Dorset Ashlar Housing Trust
Annual Report and Financial Statements
For the Year Ended 31 March 2024
Charity Registered in England and Wales Number: 900151
The Dorset Ashlar Housing Trust Contents For the Year Ended 31 March 2024
| Contents Reference and Administrative Details Trustees’ Annual Report Independent Examiner’s Report Statement of Financial Activities Balance Sheet Notes to the Financial Statements |
Page 1 2 3 - 5 6 7 8 9 - 12 |
|---|---|
Prepared By Albert Goodman
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The Dorset Ashlar Housing Trust Reference and Administrative Details For the Year Ended 31 March 2024
| Trustees | K H Barnes (Chairman) |
|---|---|
| D B F Burt | |
| K A Orton | |
| M R Devereux | |
| G C Thorne | |
| C Wills | |
| Honorary Secretary | K A Orton |
| Honorary Treasurer | M R Devereux |
| Principal Office | M R Devereux |
| 1 Clair Lodge | |
| 49 West Cliff Road | |
| Bournemouth | |
| BH4 8BA | |
| Charity Number | 900151 |
| Independent Examiner | Michelle Ferris BSc(Hons) FCA DChA |
| Albert Goodman LLP | |
| Leanne House | |
| 6 Avon Close | |
| Weymouth | |
| Dorset | |
| DT4 9UX |
Prepared By Albert Goodman
2
The Dorset Ashlar Housing Trust Trustees’ Report For the Year Ended 31 March 2024
The trustees present their report and the unaudited financial statements of the charity for the year ended 31 March 2024.
The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the charity’s trust deed, The Charities Act 2011 and the Statement of Recommended Practice: Accounting and Reporting by 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).
Public Benefit
The main activities undertaken by Dorset Ashlar Housing Trust to carry out its charitable purposes for the public benefit are the provision of twelve one and two bedroomed self-contained flats on a secure development for Masons and their widows in necessitous circumstances. The trustees confirm that when reviewing the Trust’s aims and objectives and planning for the future they have had regard to the public benefit guidance published by the Charity Commission.
Structure, governance and management
The Dorset Ashlar Housing Trust is an independent charity, registered number 900151.
The governing document is a Trust Deed dated 13 January 1989.
The following trustees served during the year:
K H Barnes (Chairman) D B F Burt
K A Orton (Secretary) M R Devereux (Treasurer) G C Thorne C Wills
The Trust Deed names three initial trustees, all of whom have since died. The deed makes no provision for a minimum or maximum number of trustees. Replacement trustees are appointed by the continuing trustees. All trustees are made aware of their obligations when taking on the appointment.
The Trustees meet as and when required. The relatively straightforward nature of the Trust’s affairs and the small number of trustees means that no sub-committees are considered necessary. The day to day management of the business of the Trust is dealt with by those of the Trustees having particular expertise in managing the Trust’s block of flats as may arise from time to time (e.g. the Building Manager, Secretary and Treasurer). However, all of the Trustees are kept up to date and well informed of all important developments.
A copy of the approved annual accounts is circulated to all Lodges within Dorset in accordance with the Trust’s policy of complete transparency and accountability.
Prepared By Albert Goodman
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The Dorset Ashlar Housing Trust Trustees’ Report For the Year Ended 31 March 2024
Objectives and activities
The objects of the Trust, as set out in the Trust Deed, are to carry on for the benefit of Masons who are members of Lodges in the Masonic Province of Dorset (and other provinces in England and Wales at the discretion of the Trustees) and their widows the business of providing housing and any associated amenities for those in necessitous circumstances upon terms appropriate to such circumstances. The Trust meets its objectives through the ownership of twelve flats in Poole, Dorset which are available for letting to Masons and/or their widows in necessitous circumstances. The accommodation is provided at rents below market rates. In addition, the residents of the flats are not required to contribute towards the maintenance, upkeep, repair and insurance of the flats.
The Trust has appointed Aster Group as expert and professional managing agents for the highest possible provision of services in respect of the flats. It has also delegated one of the Trustees to oversee regular and day to day oversight of the flats and the residents in particular.
Each year the Trustees arrange a free Christmas Lunch for the residents of the flats which they attend in support of the residents. Whenever possible, the Trustees also arrange a free summer cream tea which is also supported by them.
In addition, Trustees attend an annual meeting of the residents of the flats to listen to their views and thoughts about their residence in the flats.
Achievements and performance and plans for the future
Achievements and performance during the year have largely comprised the continued provision of subsidised living accommodation to Masons and their widows in the Trust’s twelve flats.
The Trustees are keen to maintain the property in a good state of repair so as to provide pleasant and secure, well maintained homes for all of its tenants. The Trust has therefore continued to carry out all necessary repairs and maintenance works as required. In particular, whenever a flat becomes vacant the Trust arranges refurbishment of the flat where necessary by installing new kitchen units, sanitary facilities in the bathroom and general redecoration at no cost to the incoming tenant.
During the previous year one of the flats became vacant but required substantial renovation at a cost of some £14,000 prior to it being re-let, which was completed on the 1[st] of July 2023.
The Trustees resolved to have new motion sensor lighting installed in all internal communal areas, the under floor parking facility and external areas and have the electricity distribution boards serving all flats and communal areas upgraded. The cost of this work has been completed during the financial year at a total cost of some £21,000.
The Trustees are now preparing a plan for further improvements to residents heating, internal communal and garden areas which once agreed will be scheduled over the next 2 to 3 years.
Prepared By Albert Goodman
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The Dorset Ashlar Housing Trust Trustees’ Report For the Year Ended 31 March 2024
Financial Review
Income during the year ending 31 March 2024 amounted to £56,949 (2023 - £55,371) and expenditure during the year amounted to £68,284 (2023 - £33,239). Most of the expenditure for the year totalling £67,504 (2023 - £32,513) was spent on charitable activities with £47,679 (2023 - £14,046) of that being spent on the ongoing repair and maintenance of the Trust’s twelve flats and associated communal areas.
The trustee’s policy on reserves is for the Trust to maintain a sufficient level of unrestricted reserves to be able to meet the cost of any necessary property repairs and maintenance, including those of a cyclical nature, as they fall due and to allow for any further property improvements that may be desired in the future. The free reserves of the Trust amounted to £61,452 as at 31 March 2024.
The Trust’s financial position is kept under review by the trustees and committee of management. Given the new lighting system and large repairs to flat 10 the net deficit of £10,614 and due to the level of reserves held, the trustee’s consider the results for the year and the financial position as at the balance sheet date to be satisfactory.
Statement of Trustees Responsibilities
The trustees are responsible for preparing the Trustees' Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).
The law applicable to charities in England & Wales requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of the income and expenditure of the charity for that period. In preparing these financial statements, the trustees are required to:
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select suitable accounting policies and then apply them consistently;
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observe the methods and principles in the Charities SORP;
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make judgments and accounting estimates that are reasonable and prudent;
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state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements, and
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prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in business.
The trustees are responsible for keeping sufficient accounting records that disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the trust deed. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
……………….. K H Barnes Chair of Trustees
Date:………………..
Prepared By Albert Goodman
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The Dorset Ashlar Housing Trust Independent Examiner’s Report to the Trustees For the Year Ended 31 March 2024
I report to the trustees on my examination of the accounts for The Dorset Ashlar Housing Trust (“the charity”) for the year ended 31 March 2024.
Responsibilities and basis of report
As the charity trustees of the charity you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 (“the 2011 Act”).
I report in respect of my examination of the charity’s accounts carried out under section 145 of the 2011 Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 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:
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accounting records were not kept in respect of the charity as required by section 130 of the 2011 Act; or
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the accounts do not comply with these records; or
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the accounts do not comply with the applicable requirements concerning the form and content of the 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.
……………….. Michelle Ferris BSC (Hons) FCA DChA For and on behalf of Leanne House Albert Goodman LLP 6 Avon Close Chartered Accountants Weymouth Dorset DT4 9UX
Date: ………………..
Prepared By Albert Goodman
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The Dorset Ashlar Housing Trust Statement of Financial Activities For the Year Ended 31 March 2024
| 2024 Total | 2023 Total | |
|---|---|---|
| Unrestricted | Unrestricted | |
| Funds | Funds | |
| £ | £ | |
| Income and endowments from: | ||
| Charitable activities | ||
| Rent receivable | 56,949 | 55,371 |
_______ |
_______ |
|
| 56,949 | 55,371 | |
| Investments | ||
| Bank interest | 721 | 276 |
_______ |
_______ |
|
| Total income | 57,670 | 55,647 |
‗‗‗‗‗‗‗‗ |
‗‗‗‗‗‗‗‗ |
|
| Expenditure on: | ||
| Charitable activities | ||
| Provision of housing and associated amenities: | ||
| Property repairs and maintenance | 50,122 | 14,046 |
| Property management charges | 4,394 | 4,023 |
| Grounds maintenance | 5,899 | 5,791 |
| Light, heat and power | 3,084 | 3,679 |
| Telephone | 574 | 508 |
| Insurance | 2,852 | 2,821 |
| Rates and water | 251 | (243) |
| Legal Fees | 35 | 1,211 |
| Loan Interest | - | 278 |
| Sundries | 294 | 399 |
_______ |
_______ |
|
| 67,504 | 32,513 | |
| Other | ||
| Independent examiner’s remuneration | 780 | 726 |
_______ |
_______ |
|
| Total expenditure | 68,284 | 33,239 |
‗‗‗‗‗‗‗‗ |
‗‗‗‗‗‗‗‗ |
|
| Net income/(loss) | (10,614) | 22,408 |
_______ |
_______ |
|
| Net movement in funds | (10,614) | 22,408 |
‗‗‗‗‗‗‗ |
‗‗‗‗‗‗‗ |
|
| Reconciliation of funds: | ||
| General funds brought forward | 1,022,774 | 1,000,366 |
| Movement in general funds | (10,614) | 22,408 |
| Revaluation Reserve | 739,292 | 739,292 |
_______ |
_______ |
|
| Total funds carried forward | 1,751,452 | 1,762,066 |
‗‗‗‗‗‗‗ |
‗‗‗‗‗‗‗ |
Prepared By Albert Goodman
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The Dorset Ashlar Housing Trust Balance Sheet As at 31 March 2024
| Notes | 2024 | 2023 | |||
|---|---|---|---|---|---|
| £ | £ | £ | £ | ||
| Fixed assets | |||||
| Tangible assets | 2 | 1,690,000 | 1,690,000 | ||
| Current assets | |||||
| Cash at bank and in hand | 3 | 61,252 | 71,948 | ||
| Debtors | 4 | 1,521 | 1,358 | ||
_______ |
_______ |
||||
| 62,773 | 73,306 | ||||
| Creditors | |||||
| Amounts falling due within one year | 5 | (1,321) | (1,240) | ||
_______ |
_______ |
||||
| Net current assets | 61,452 | 72,066 | |||
_______ |
_______ |
||||
| Total assets less current liabilities | 1,751,452 | 1,762,066 | |||
_______ |
_______ |
||||
| Net assets | 1,751,452 | 1,762,066 | |||
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‗‗‗‗‗‗‗ |
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| The funds of the charity | |||||
| Unrestricted funds: | |||||
| General funds | 6 | 1,012,160 | 1,022,774 | ||
| Revaluation reserve | 7 | 739,292 | 739,292 | ||
_______ |
_______ |
||||
| Total charity funds | 1,751,452 | 1,762,066 | |||
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‗‗‗‗‗‗‗ |
Approved by the Trustees for issue on …………. and signed on their behalf by:
………………..
K H Barnes Chair of Trustees
………………..
M R Devereux Honorary Treasurer
Prepared By Albert Goodman
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The Dorset Ashlar Housing Trust Notes to the Financial Statements For the Year Ended 31 March 2024
1 Accounting policies
1.1 Basis of preparation and assessment of going concern
The financial statements have been prepared under the historical cost convention with items recognised at cost or transaction value unless otherwise stated in the relevant notes to these financial statements. The financial statements have been prepared in accordance with the Statement of Recommended Practice: Accounting and Reporting by 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), the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102) and the Charities Act 2011.
The Trust constitutes a public benefit entity as defined by FRS 102.
The trustees consider that there are no material uncertainties about the Trust’s ability to continue as a going concern.
1.2
Income recognition
All income is recognised once the Trust has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably. Where funds are received in advance, for a specified period, such funds are deferred and recognised in the period to which they relate.
Rents from the Trust’s freehold property are included when they are receivable in accordance with the terms of individual tenancy agreements.
1.3
Expenditure recognition
Liabilities are recognised as expenditure when there is a legal or constructive obligation committing the Trust to that expenditure, it is probable that settlement will be required and the amount of the obligation can be measured reliably.
Expenditure is accounted for on an accruals basis. Expenses, including any support costs and governance costs are allocated to the applicable expenditure headings. There are no shared costs that are required to be apportioned between different expenditure headings.
1.4 Irrecoverable VAT
Irrecoverable VAT is charged against the expenditure heading for which it was incurred.
1.5 Fixed assets
Freehold property is fully utilised by the Trust in the furtherance of its charitable objects. No depreciation has been provided as the trustees are of the opinion that the residual value of the freehold property will be substantial and any annual charge for depreciation would not therefore be material.
1.7 Taxation
The Trust is a registered charity and is therefore not liable to taxation to the extent that income and gains are applied for charitable purposes.
Prepared By Albert Goodman
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The Dorset Ashlar Housing Trust Notes to the Financial Statements For the Year Ended 31 March 2024
1.8 Fund accounting
Unrestricted funds comprise those funds which the trustees are free to use for any purpose in furtherance of the charitable objects of the Trust. Unrestricted funds may from time to time include designated funds where the trustees, at their discretion, have created a fund for a specific purpose.
All of the Trust’s funds included in the financial statements comprise unrestricted funds.
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| Tangible assets | Freehold | |
|---|---|---|
| Property | Total | |
| Cost | £ | £ |
| As at 01.04.23 | 950,708 | 950,708 |
_______ |
_______ |
|
| As at 31.03.24 | 950,708 | 950,708 |
_______ |
_______ |
|
| Depreciation | ||
| As at 01.04.23 | - | - |
| Charge for Year | - | - |
_______ |
_______ |
|
| As at 31.03.24 | - | - |
_______ |
_______ |
|
| Revaluation | ||
| As at 01.04.23 | 739,292 | 739,292 |
| Revaluation in Year | - | - |
_______ |
_______ |
|
| As at 31.03.24 | 739,292 | 739,292 |
_______ |
_______ |
|
| Net book value | ||
| As at 31.03.24 | 1,690,000 | 1,690,000 |
‗‗‗‗‗‗‗ |
‗‗‗‗‗‗‗ |
|
| As at 31.03.23 | 1,690,000 | 1,690,000 |
‗‗‗‗‗‗‗ |
‗‗‗‗‗‗‗ |
The property was revalued at 31 March 2020 by a registered regulated chartered surveyor. The historic cost of the freehold property is £950,708 (2023: £950,708).
Prepared By Albert Goodman
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The Dorset Ashlar Housing Trust Notes to the Financial Statements For the Year Ended 31 March 2024
| 3 | Cash at bank and in hand | 2024 | 2023 | |||
|---|---|---|---|---|---|---|
| £ | £ | |||||
| Bank deposit account | 59,846 | 69,725 | ||||
| Bank current account | 1,406 | 2,223 | ||||
_______ |
_______ |
|||||
| 61,252 | 71,948 | |||||
‗‗‗‗‗‗‗ |
‗‗‗‗‗‗‗ |
|||||
| 4 | Debtors | 2024 | 2023 | |||
| £ | £ | |||||
| Prepayments | 1,521 | 1,358 | ||||
_______ |
_______ |
|||||
| 1,521 | 1,358 | |||||
‗‗‗‗‗‗‗ |
‗‗‗‗‗‗‗ |
|||||
| 5 | Creditors: amounts falling | due within one year | 2024 | 2023 | ||
| £ | £ | |||||
| Accruals | 1,306 | 1,240 | ||||
| Prepaid Income | 15 | - | ||||
_______ |
_______ |
|||||
| 1,321 | 1,240 | |||||
‗‗‗‗‗‗‗ |
‗‗‗‗‗‗‗ |
|||||
| 6 | Analysis of charitable funds Balance | Balance | ||||
| 01.04.23 | Income | Expenditure | Transfers | 31.03.24 | ||
| £ | £ | £ | £ | £ | ||
| Unrestricted funds | ||||||
| General funds | 1,022,774 | 57,670 | (68,284) | - | 1,012,160 | |
_______ |
_______ |
_______ |
_______ |
_______ |
||
| Total funds 2024 | 1,022,774 | 57,670 | (68,284) | - | 1,012,160 | |
‗‗‗‗‗‗‗ |
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‗‗‗‗‗‗‗ |
‗‗‗‗‗‗‗ |
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| Total funds 2023 | 1,000,366 | 55,647 | (33,239) | - | 1,022,774 | |
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‗‗‗‗‗‗‗ |
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Prepared By Albert Goodman
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The Dorset Ashlar Housing Trust Notes to the Financial Statements For the Year Ended 31 March 2024
7
| Revaluation Reserve | £ |
|---|---|
| As at 01.04.23 | 739,292 |
| Revaluation of Freehold Property | - |
_______ |
|
| As at 31.03.24 | 739,292 |
‗‗‗‗‗‗‗ |
8 Analysis of net assets between funds
| Analysis of net assets between funds | ||
|---|---|---|
| Unrestricted | Unrestricted | |
| Total | Total | |
| 2024 | 2023 | |
| £ | £ | |
| Tangible fixed assets | 1,690,000 | 1,690,000 |
| Cash at bank and in hand | 61,252 | 71,948 |
| Debtors | 1,521 | 1,358 |
| Creditors: amounts falling due within one year | (1,321) | (1,240) |
| Creditors: amounts falling due after one year | - | - |
_______ |
_______ |
|
| 1,751,452 | 1,762,066 | |
‗‗‗‗‗‗‗ |
‗‗‗‗‗‗‗ |
9 Trustees expenses and remuneration
The trustees all give freely their time and expertise without any form of remuneration or other benefit in cash or kind (2023: nil). No expenses were paid to the trustees (2023: nil).
10 Employees
The Trust has no employees and hence no key management personnel (2023: none).
11 Related party transactions
There are no related party transactions (2023: none).
Prepared By Albert Goodman
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