Charity number: 1029542
STABLE DOOR (THE SHERINGHAM CHRISTIAN HOUSING TRUST)
UNAUDITED
TRUSTEES' REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2026
STABLE DOOR (THE SHERINGHAM CHRISTIAN HOUSING TRUST)
| CONTENTS | |
|---|---|
| Page | |
| Reference and administrative details of the Charity, its Trustees and advisers | 1 |
| Trustees' report | 2 - 4 |
| Independent examiner's report | 5 - 6 |
| Statement of financial activities | 7 |
| Balance sheet | 8 |
| Notes to the financial statements | 9 - 18 |
STABLE DOOR (THE SHERINGHAM CHRISTIAN HOUSING TRUST)
REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 JANUARY 2026
Trustees Mrs D L Smith, Chair Mrs A Barker Mr D Burns
Charity registered number 1029542 Principal office 48 Hillside Cromer Norfolk NR27 0HY
Accountants MA Partners LLP 7 The Close Norwich Norfolk NR1 4DJ
Page 1
STABLE DOOR (THE SHERINGHAM CHRISTIAN HOUSING TRUST)
TRUSTEES' REPORT FOR THE YEAR ENDED 31 JANUARY 2026
The Trustees present their annual report together with the financial statements of the Charity (the "Charity") for the year 1 February 2025 to 31 January 2026.
The Charity also trades under the name Stable Door.
Objectives and activities
a. Policies and objectives
The Charity is a Christian Housing Trust and its objective is to provide social housing in Sheringham, Norfolk to residents on low incomes.
The Trustees and Committee members are all volunteers. The Charity does not use volunteers to carry out works on its properties.
In setting objectives and planning for activities, the Trustees have given due consideration to general guidance published by the Charity Commission relating to public benefit, including the guidance 'Public benefit: running a charity (PB2)'.
b. Main activities undertaken to further the Charity's purposes for the public benefit
The Charity has continued to provide social housing in Sheringham, Norfolk to residents on low incomes.
Achievements and performance
a. Review of activities
As planned, we have continued with our programme of property improvements, particularly surrounding energy efficiency, with the installation of more solar panels. We have also taken the opportunity of renovating properties when long-standing tenants have vacated. This is seen as beneficial in attracting new tenants, and also increasing the value of the assets.
The Management Committee and the Trustees served throughout the entire period under review, and no changes are envisaged during the forthcoming year. The Charity continues to enjoy a good reputation in the community and also with the Local Authority.
We continue to regularly review all our operational policies to ensure that the Charity is operating according to best practice, taking professional advice where necessary. Rent reviews are carried out annually for each of our properties and increased where appropriate.
It is not envisaged that we shall be considering any further property purchases within the next few years, but will continue our programme of improving energy efficiency, and updating properties when necessary.
As always, we continually ensure that the Charity is operating in such a way that it is not exposed to any undue risk, either to its assets or reputation.
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STABLE DOOR (THE SHERINGHAM CHRISTIAN HOUSING TRUST)
TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 JANUARY 2026
Financial review
a. Going concern
After making appropriate enquiries, the Trustees have a reasonable expectation that the Charity has adequate resources to continue in operational existence for the foreseeable future. For this reason, they continue to adopt the going concern basis in preparing the financial statements.
b. Reserves policy
The Trustees intention is to maintain sufficient reserves to enable the Charity to cover one year of charitable activity expenditure to cover any periods when properties may not be rented.
Structure, governance and management
a. Constitution
Stable Door (The Sheringham Christian Housing Trust) is a registered charity, number 1029542, and is constituted under a Trust deed dated 5 November 1993.
b. Methods of appointment or election of Trustees
The management of the Charity is the responsibility of the Trustees who are elected and co-opted under the terms of the Trust deed.
c. Financial risk management
The Trustees are currently reviewing the major risks to which the Charity is exposed and are also reviewing systems and procedures to manage those risks.
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STABLE DOOR (THE SHERINGHAM CHRISTIAN HOUSING TRUST)
TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 JANUARY 2026
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 (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 its incoming resources and application of resources, including its income and expenditure, 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 of the Charities SORP (FRS 102);
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make judgements and accounting estimates that are reasonable and prudent;
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state whether applicable UK Accounting Standards (FRS 102) have been followed, subject to any material departures disclosed and explained in the financial statements;
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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 adequate accounting records that are sufficient to show and explain the Charity's transactions and 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.
Approved by order of the members of the board of Trustees and signed on their behalf by:
................................................
Mrs D L Smith
Date:
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STABLE DOOR (THE SHERINGHAM CHRISTIAN HOUSING TRUST)
INDEPENDENT EXAMINER'S REPORT FOR THE YEAR ENDED 31 JANUARY 2026
Independent examiner's report to the Trustees of Stable Door (The Sheringham Christian Housing Trust) ('the Charity')
I report to the charity Trustees on my examination of the accounts of the Charity for the year ended 31 January 2026.
Responsibilities and basis of report
As the 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 the applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.
Independent examiner's statement
Your attention is drawn to the fact that the Charity has prepared the accounts in accordance with 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) in preference to the Accounting and Reporting by Charities: Statement of Recommended Practice issued on 1 April 2005 which is referred to in the extant regulations but has been withdrawn.
I understand that this has been done in order for the accounts to provide a true and fair view in accordance with the Generally Accepted Accounting Practice effective for reporting periods beginning on or after 1 January 2015.
I have completed my examination. I confirm that no 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 accord with those records; or
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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.
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STABLE DOOR (THE SHERINGHAM CHRISTIAN HOUSING TRUST)
INDEPENDENT EXAMINER'S REPORT (CONTINUED) FOR THE YEAR ENDED 31 JANUARY 2026
This report is made solely to the Charity's Trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. My work has been undertaken so that I might state to the Charity's Trustees those matters I am required to state to them in an Independent examiner's report and for no other purpose. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than the Charity and the Charity's Trustees as a body, for my work or for this report.
Signed:
Dated:
Alice Lynch BSc FCA DChA
MA Partners LLP 7 The Close Norwich Norfolk NR1 4DJ
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STABLE DOOR (THE SHERINGHAM CHRISTIAN HOUSING TRUST)
STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 JANUARY 2026
| Note Income from: Donations and legacies 3 Investments 4 Total income Expenditure on: Charitable activities 5 Total expenditure Net income before net losses on investments Net losses on investments Net movement in funds Reconciliation of funds: Total funds brought forward Net movement in funds Total funds carried forward |
Unrestricted funds 2026 £ 1,185 67,132 68,317 65,040 65,040 3,277 (8,775) (5,498) 2,304,538 (5,498) 2,299,040 |
Total funds 2026 £ 1,185 67,132 68,317 65,040 65,040 3,277 (8,775) (5,498) 2,304,538 (5,498) 2,299,040 |
Total funds 2025 £ 5,300 63,924 69,224 31,491 31,491 37,733 (9,100) 28,633 2,275,905 28,633 2,304,538 |
|---|---|---|---|
The Statement of financial activities includes all gains and losses recognised in the year.
The notes on pages 9 to 18 form part of these financial statements.
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STABLE DOOR (THE SHERINGHAM CHRISTIAN HOUSING TRUST)
BALANCE SHEET AS AT 31 JANUARY 2026
| Note Fixed assets Investment property 9 Current assets Debtors 10 Cash at bank and in hand Current liabilities Creditors: amounts falling due within one year 11 Net current assets Total net assets Charity funds Unrestricted funds 13 Total funds |
2,620 72,699 75,319 (3,779) |
2026 £ 2,227,500 2,227,500 71,540 2,299,040 2,299,040 2,299,040 |
1,970 77,139 79,109 (2,071) |
2025 £ 2,227,500 |
|---|---|---|---|---|
| 2,227,500 77,038 |
||||
| 2,304,538 | ||||
| 2,304,538 | ||||
| 2,304,538 |
The financial statements were approved and authorised for issue by the Trustees and signed on their behalf by:
................................................
Mrs D L Smith
Date:
The notes on pages 9 to 18 form part of these financial statements.
Page 8
STABLE DOOR (THE SHERINGHAM CHRISTIAN HOUSING TRUST)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2026
1. General information
Stable Door (The Sheringham Christian Housing Trust), (the "Charity"), is based in England. The address of its principal place of business is 48 Hillside, Cromer, Norfolk, NR27 0HY.
2. Accounting policies
2.1 Basis of preparation of financial statements
The financial statements 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), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Charities Act 2011.
The Charity meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy.
The financial statements are presented in Sterling and rounded to the nearest £.
2.2 Going concern
After making appropriate enquiries, the Trustees have a reasonable expectation that the Charity has adequate resources to meet all its liabilities as they fall due and for a period of at least 12 months from the approval of the financial statements. For this reason, the Trustees continue to adopt the going concern basis in preparing the financial statements.
2.3 Income
All income is recognised once the Charity has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably.
The recognition of income from legacies is dependent on establishing entitlement, the probability of receipt and the ability to estimate with sufficient accuracy the amount receivable. Evidence of entitlement to a legacy exists when the Charity has sufficient evidence that a gift has been left to them (through knowledge of the existence of a valid will and the death of the benefactor) and the executor is satisfied that the property in question will not be required to satisfy claims in the estate. Receipt of a legacy must be recognised when it is probable that it will be received and the fair value of the amount receivable, which will generally be the expected cash amount to be distributed to the Charity, can be reliably measured.
2.4 Expenditure
Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, 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 on charitable activities is incurred on directly undertaking the activities which further the Charity's objectives, as well as any associated support costs.
All expenditure is inclusive of irrecoverable VAT.
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STABLE DOOR (THE SHERINGHAM CHRISTIAN HOUSING TRUST)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2026
2. Accounting policies (continued)
2.5 Interest receivable
Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the Charity; this is normally upon notification of the interest paid or payable by the institution with whom the funds are deposited.
2.6 Investment property
Investment properties are carried at fair value. Revaluations are made with sufficient regularity to ensure that the carrying amount does not differ materially from that which would be determined using fair value at the end of the reporting date. Fair values are determined from market-based evidence by appraisal that is normally undertaken by professionally qualified valuers.
Gains and losses on revaluation of investment property are recognised in the Statement of financial activities, with a separate revaluation reserve being shown in the Statement of funds note.
2.7 Debtors
Trade and other debtors are recognised at the settlement amount after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.
2.8 Cash at bank and in hand
Cash at bank and in hand includes cash and short-term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.
2.9 Liabilities and provisions
Liabilities are recognised when there is an obligation at the Balance sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably.
Liabilities are recognised at the amount that the Charity anticipates it will pay to settle the debt or the amount it has received as advanced payments for the goods or services it must provide.
Provisions are measured at the best estimate of the amounts required to settle the obligation. Where the effect of the time value of money is material, the provision is based on the present value of those amounts, discounted at the pre-tax discount rate that reflects the risks specific to the liability. The unwinding of the discount is recognised in the Statement of financial activities as a finance cost.
2.10 Financial instruments
The Charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method.
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STABLE DOOR (THE SHERINGHAM CHRISTIAN HOUSING TRUST)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2026
2. Accounting policies (continued)
2.11 Fund accounting
General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the Charity and which have not been designated for other purposes.
Investment income, gains and losses are allocated to the appropriate fund.
3. Income from donations and legacies
| Unrestricted funds 2026 £ Donations 1,185 Legacies - 1,185 Total 2025 5,300 |
Total funds 2026 £ 1,185 - 1,185 5,300 |
Total funds 2025 £ 300 5,000 |
|---|---|---|
| 5,300 | ||
4. Investment income
| Unrestricted funds 2026 £ Rental income 66,438 Interest 694 67,132 Total 2025 63,924 |
Total funds 2026 £ 66,438 694 67,132 63,924 |
Total funds 2025 £ 63,202 722 |
|---|---|---|
| 63,924 | ||
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STABLE DOOR (THE SHERINGHAM CHRISTIAN HOUSING TRUST)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2026
5. Analysis of expenditure on charitable activities
Summary by fund type
| Unrestricted funds 2026 £ Charitable activities 65,040 Total 2025 31,491 |
Total 2026 £ 65,040 31,491 |
Total 2025 £ 31,491 |
|---|---|---|
6. Analysis of expenditure by activities
| Charitable activities Total 2025 |
Activities undertaken directly 2026 £ 59,591 26,512 |
Support costs 2026 £ 5,449 4,979 |
Total funds 2026 £ 65,040 31,491 |
Total funds 2025 £ 31,491 |
|---|---|---|---|---|
Analysis of direct costs
| Property maintenance and management Rates Rent written off |
Total funds 2026 £ 59,225 366 - 59,591 |
Total funds 2025 £ 24,950 835 727 |
|---|---|---|
| 26,512 |
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STABLE DOOR (THE SHERINGHAM CHRISTIAN HOUSING TRUST)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2026
6. Analysis of expenditure by activities (continued)
Analysis of support costs
| Insurance Website Sundry Governance costs |
Total funds 2026 £ 3,283 144 750 1,272 5,449 |
Total funds 2025 £ 3,032 144 749 1,054 |
|---|---|---|
| 4,979 |
7. Independent examiner's remuneration
The independent examiner's remuneration amounts to an independent examiner fee of £1,056 ( 2025 - £1,010 ).
8. Trustees' remuneration and expenses
During the year, no Trustees received any remuneration or other benefits (2025 - £NIL) .
During the year ended 31 January 2026, no Trustee expenses have been incurred (2025 - £NIL) .
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STABLE DOOR (THE SHERINGHAM CHRISTIAN HOUSING TRUST)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2026
9. Investment property
| Valuation At 1 February 2025 Additions Revaluation At 31 January 2026 |
Freehold investment property £ 2,227,500 8,775 (8,775) |
|---|---|
| 2,227,500 |
The Charity's portfolio of investment property has been subject to an independent professional revaluation undertaken by Arnold Keys, Chartered Surveyors, who reported the fair value of the investment properties as at 31 January 2026. The fair value has been assessed giving consideration to the investment made in the year on solar energy technology and on average house price movements in the local area since the date of the last revaluation at 31 January 2026.
10. Debtors
| Due within one year Prepayments and accrued income 11. Creditors: Amounts falling due within one year Accruals and deferred income |
2026 £ 2,620 2026 £ 3,779 |
2025 £ 1,970 |
|---|---|---|
| 2025 £ 2,071 |
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STABLE DOOR (THE SHERINGHAM CHRISTIAN HOUSING TRUST)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2026
12. Accruals and deferred income
| Deferred income at 1 February 2025 Resources deferred during the year Amounts released from previous periods Deferred income at 31 January 2026 |
2026 £ 1,015 2,579 (1,015) 2,579 |
2025 £ 1,125 1,015 (1,125) 1,015 |
|---|---|---|
Deferred income represents rental income received in advance for periods falling after the year end.
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STABLE DOOR (THE SHERINGHAM CHRISTIAN HOUSING TRUST)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2026
13. Statement of funds
Statement of funds - current year
| Balance at 1 | Balance at | ||||
|---|---|---|---|---|---|
| February | Gains/ | 31 January | |||
| 2025 | Income | Expenditure | (Losses) | 2026 | |
| £ | £ | £ | £ | £ | |
| Unrestricted funds | |||||
| General fund | 894,147 | 68,317 | (65,040) | - | 897,424 |
| Revaluation reserve | 1,410,391 | - | - | (8,775) | 1,401,616 |
| 2,304,538 | 68,317 | (65,040) | (8,775) | 2,299,040 | |
| Statement of funds - prior year | |||||
| Balance at | Balance at | ||||
| 1 February | Gains/ | 31 January | |||
| 2024 | Income | Expenditure | (Losses) | 2025 | |
| £ | £ | £ | £ | £ | |
| Unrestricted funds | |||||
| General fund | 856,414 | 69,224 | (31,491) | - | 894,147 |
| Revaluation reserve | 1,419,491 | - | - | (9,100) | 1,410,391 |
| 2,275,905 | 69,224 | (31,491) | (9,100) | 2,304,538 |
The revaluation reserve represents the accumulated difference between the carrying value of the investment properties and their historical cost.
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STABLE DOOR (THE SHERINGHAM CHRISTIAN HOUSING TRUST)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2026
14. Summary of funds
Summary of funds - current year
| General funds | Balance at 1 February 2025 £ 2,304,538 Balance at 1 February 2024 £ 2,275,905 |
Income £ 68,317 Income £ 69,224 |
Expenditure £ (65,040) Expenditure £ (31,491) |
Gains/ (Losses) £ (8,775) Gains/ (Losses) £ (9,100) |
Balance at 31 January 2026 £ 2,299,040 |
|---|---|---|---|---|---|
| Balance at 31 January 2025 £ 2,304,538 |
|||||
| Summary of funds - prior year | |||||
| General funds |
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STABLE DOOR (THE SHERINGHAM CHRISTIAN HOUSING TRUST)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2026
15. Analysis of net assets between funds
Analysis of net assets between funds - current year
| Unrestricted funds 2026 £ Investment property 2,227,500 Current assets 75,319 Creditors due within one year (3,779) Total 2,299,040 |
Total funds 2026 £ 2,227,500 75,319 (3,779) 2,299,040 |
|---|---|
Analysis of net assets between funds - prior year
| Investment property Current assets Creditors due within one year Total |
Unrestricted funds 2025 £ 2,227,500 79,109 (2,071) 2,304,538 |
Total funds 2025 £ 2,227,500 79,109 (2,071) 2,304,538 |
|---|---|---|
16. Related party transactions
During the year, the Charity received an unrestricted donation of £750 from St Andrews Methodist Church, an organisation with which the Charity shares a trustee in common.
The donation was made on normal terms, with no conditions attached, and was recognised as unrestricted income in the Statement of Financial Activities.
No other related party transactions occurred during the year.
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