Company registration number.. 02968889
Charity number.. 1041037
TRUSTEES, REPORT AND
FINANCIAL STATEMENTS
FOR THE YEAR ENDED
31 MARCH 2025
SUNLEY ORFORD
RETIREMENT HOMES
(A company limited by
guarantee)

SUNLEY ORFORD RETIREMENT HOMES
(A company limited by guarantee)
CONTENTS
Page
Reference and administrative details of the Company. its Trustees and advisers
Trustees. report
Independent auditors. report on the financial ststements
Statement of financial activities
Balance sheet
10
Notes to the financial ststements

SUNLEY ORFORD RETIREMENT HOMES
(A company limited by guarantee)
REFERENCE AND ADMINISTFIATIVE DETAILS OF THE COMPANY, ITS
TRUSTEES AND ADVISERS
FOR THE YEAR ENDED 31 MARCH 2025
Trustees
B W Martin
J B Sunley
C M B Sunley (appointed 18 September 2025)
O W B T1￿ {appointed 18 September 20251
Company registered
number
02968889
Charity registered number 1041037
Registered office
Vivian House
Newham Road
Truro
Comwall
TR12DP
Independent auditors
TC Group
Vivian House
Newham Road
Truro
Comwall
TR12DP
Bankers
Clydesdale Bank PLC
30 St Vin￿nt Pla
GlasGow
G12HL
Investment Managers
Blackrod( Advisors (UK) Limited
12 Throgmorlon Avenue, London EC2N 2DL
Fundsmith
33 Cavendish Square Marylebone, London
W1G OP
Housing Manager
ELM Group
Building 2, Archipelago
Lyon Way
Frimley
SU￿eY
GU16 7ER
Page 1

SUNLEY ORFORD RETIREMENT HOMES
(A company limited by guarantee)
TRUSTEES, REPORT
FOR THE YEAR ENDED 31 MARCH 2025
The trustees who are also directors of the charity for the purposes of Ihe Companies Act 2006, presenl their report with the
financial statements of the charity for the year ended 31 March 2025. The trustees have adopted the provisions of
Accounting and Reporting by Chartties.. Stalement of Recommended Practice applicable to charities preparing their
accounts in accordance with the Finanaal Reporting Standard applicable in the UK and Republic of Ireland (FRS 1021
{effeclive 1 January 2019).
OBJECTIVES AND ACTIVITIES
The Charily's principal objective is the provision of housing for the elderly and provides shellered accommodation for local
people at Sunley Orford Retirement Homes (SORH). Truro. Cornwall. with 35 one bedroom flats and five bedroom flats
together with communal facilities. Trustees are content that the chartty fulffils the requirement of 'public benefit, in
accordance with Charity Commission guidelines. by providing accommodation to tenants who would not otherwise be able
to afford it.
SORH does not raise funds from the public. nor does anyone act on its behalf to raise funds whether a professional
fundraiser or commercial participator.
SORH is not registered with the Fundraising Regulator. maintenan￿ activity is ongoing in order that the high standards of
accommodation are maintained. A renewals fund provides for the repla￿ment of items of a communal nalure.
ACHIEVEMENT AND PERFORMANCE
ELM Managemenl undertook a slock condition ￿port in order to assess the work Ihat is required for the upkeep and
maintenance of the property in 2023. During the year work was undertaken to replace the internal fittings in each of the
flals.
Fundraising
SORH has not made any fijndraising appeals to the general public during the year, and as a result there has been no
outsourced fundraising via professional fundraisers or other third parties. Consequently, Ihe charity is nol regislered with
the fundraising regulator and received no fundraising complaints in the year.
Lettings, Allocations and Voids
The 40 apartments offer landscaped gardens. residents, lounge. guest room and regular social aclivities for residents to
enjoy. SORH endeavours to ensure that its properties are allocated faidy and efficiently. Anyone from the local area over
the age of 55 may apply lo Ihe wailing list but housing is only offered to people of 60 years and over. SORH aims lo have a
maximum void period of two weeks and works in partnership with a number of local support agencies which includes Age
Concern, lo find suilable and eligible new residents. It also works to ensure that those applying are in a position to move
into a vacant property as soon as is reasonably possible.
FINANCIAL REVIEW
Rent was increased this year by 10% so that rental income for the year was £288,473 {2024.' £261,363). With Other
Income of £173,293 {2024'. £171,683). Total Income was £461,766 an increase of 6.6 /L> over the previous year.
With Support Costs of £639,739 {2024= £383.110) and Investment Management Fees of £19,494 {2024.' £18,169). there
was a deficit of £197,467 {2024.' surplus of £31.767).
The Renewals Fund, which is a Restricted Fund. totals £147,522 and is fijnded by residents as part of the service charge.
11 is used to fund the cost of renewing items of a communal natu￿ in the house.
The lotal reserves at 31 st March 2025 were £6,278,069. There is a capital fvnd totalling £2,096,473 {2024.' £2,008,026),
which is designated, and is equal to the net book value of the tangible fixed assets of Sunley Orford Retirement Homes.
This highlights that a large percentage of the reserves of the company are invested in Sunley Orford House and are not
available for the general running costs of the company.
The year end market value of the investment portfolio was £3.415,774. During the previous year, the trustees made the
decision to sell the charity's holdings in the PITCH fund run by Mayfair Capital and divert Ihe proceeds to its Clydesdale
bank account. The cash balan￿ at the year end was £830.542.
Page 2

SUNLEY ORFORD RETIREMENT HOMES
(A company limited by guarantee)
TRUSTEES, REPORT (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
PLANS FOR THE FUTURE
Sunley Orford Relirement Homes plan to continue providing housing for the elderly in the Truro area by maintaining
facilities of Sunley Orford House for the foreseeable future. Surpluses remain in the General Fund committed long term to
Sunley Orford House.
STRUCTURE. GOVERNANCE AND MANAGEMENT
Goveming document
Sunley Orford Retirement Homes (SORH) was incorporated as a company on 16th September 1994 and registered as a
charity on 24th Seplember 1994. Initial funds were provided from a grant by the Bemard Sunley Foundation due lo Iwo
legacies one from the estate of Mrs Edna Orford who was a sister of the late Bemard Sunley and the other from the
estate of Mrs Eva Sunley, his sister-in-law. Their wishes were to provide homes for older people in, or near, the city of
Truro. The foundation stone for the Home was laid on 27th Odober 1995 and opened in October 1996.ln 2001. Two further
flats were added to the original 38 flats in the building.
The Board of Trustees consisted of Dr Brian Martin and Mr James Sunley.
The ELM Group manages the house on beha￿ oflhe Trustees and meets with Trustees up to 3 times each year to update
on progress and raise any managementlbudget issues.
Risk management is an ongoing consideration. Investments are made and monitored carefully to ensure long-term viability
of SORH.
Trustee Recruitment. Appoinlment and Election
The Constitution provides for a minimum of 2 trustees.
Trustees are elected to the Board at the AGM.
Potential candidates for the Trustee Board are intrOdU￿d to the company and inducted by the Chair.
STATEMENT OF TRUSTEES. RESPONSIBIUTIES
The trustees (who are also the directors of Sunley Orford Retirement Homes for the purposes of company law) are
responsible for preparing ihe Report of the Trustees and the financial stalements in accordance with applicable law and
United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice)- Company law 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 charitable company and of the incoming resources and application of resources, the income and expenditure, of the
charitable company for thal period. In preparing those financial induding statemenls. the Irustees are required to select
suitable accounting policies and then apply them consistently- observe the methods and principles in the Charity SORP.,
make judgements and eslimates that are reasonable and prudent- prepare the financial stalements on the going concern
basis unless it is inappropriate to presume that the charitable company will continue in business.
The trustees are responsible for keeping proper accounting records which disdose with reasonable accuracy at any time
the financial position of Ihe charitable company and to enable them to ensure that the financial slalements comply with the
Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for
taking reasonable steps for the prevention and detection of fraud and other irregularities. In so far as the truslees are
aware.. there is no relevant audit information of which the charitable company's auditors are unaware- and the trustees
have taken all steps Ihat they ought to have taken to make themselves aware of any relevanl audit information and to
establish that the auditors are aware of that infomiation.
Page 3

SUNLEY ORFORD RETIREMENT HOMES
(A company limited by guarantee)
TRUSTEES, REPORT (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
AUDITORS
The auditors, TC Group. will be proposed for r&appointment at the forthcoming Annual General Meeting.
This report has been prepared in accordance with the special provisions of Part 15 of the Companies Acl 2006 relating to
small companies.
Approved by order of the members of the board of Trustees and signed on Iheir behalf by..
J B Sunley
Trustee
Date=
26101126
Page 4

SUNLEY ORFORD RETIREMENT HOMES
(A company limited by guarantee)
INDEPENDENT AUDITORS, REPORT TO THE MEMBERS OF SUNLEY
ORFORD RETIREMENT HOMES
Opinion
We have audiled Ihe financial statements of Sunley Orford Retirement Homes (the 'charitable company ) for the year
ended 31 March 2025 which comprise the Statement of Finanaal Activites, the balan￿ sheet and notes to the financial
stalements, including significant accounting policies. The financial reporting framework that has been applied in their
preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 The
Financial Reporting Slandard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted
Accounting Practice).
In our opinion the financial statements=
give a true and fair view of the state of the charitable companls affairs as at 31 March 2024, and of its incoming
resources and application of reSoUr￿s, including its income and expenditure. for the year then ended,.
have been propedy prepared in accordance with United Kingdom Generally Accepted Accounting Praclice., and
have been prepared in accordance with the requirements of the Companies Act 2006
Basis for opinion
We conducted our audit in accordance wth Inlemalional Standards on Audiling (UK) (ISAS {UK)) and applicable law. Our
responsibilities under those standards are further described in the auditor responsibilities for the audit of the financial
sialements section of our report. We are independent of the charilable company in accordance wilh the elhical
requirements that are relevant to our audit of the financial statements in the UK, induding the FRC'S Ethical Standard, and
we have fulfilled our olher ethical responsibilities in accordance with these requirements. We believe that the audit
evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.
Conclusions relating to going concem
In auditing the financial statements, we have conduded that the trustees, use of the going concern basis of accounting in
the preparation of the financial slatements is appropriate.
Based on the work we have performed. we have not identified any material uncertainties relating to events or conditions
thal, individually or collectively. may cast significant doubl on the charitable company's ability to continue as a going
concern for a period of at least ￿e1ve months from when the finanaal statements are authorised for issue.
Our responsibililies and the responsibililies of the trustees with respect to going concem are described in the relevanl
sections of this report.
Page 5

SUNLEY ORFORD RETIREMENT HOMES
(A company limited by guarantee)
INDEPENDENT AUDITORS, REPORT TO THE MEMBERS OF SUNLEY
ORFORD RETIREMENT HOMES (CONTINUED)
Other information
The olher information comprises the infonnation included in the Annual report other than Ihe financial statements and our
Auditors, report thereon.
The trustees are responsible for the other infoThation. Our opinion on the financial statements does not cover the other
information and, ex￿p1 to Ihe extent olherwise expliatly stated in our report. we do not express any fom of assurance
conclusion thereon. Our responsibility is to read the other information and. in doing so, consider whether the other
information is materially inconsislenl with the financial statements or our knowledge obtained in Ihe course of the audil or
otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material
misstatemenls, we are required to detemiine whether this gives rise to a material misstatemenl in the financial statements
themselves. If, based on the work we have performed. we condude that there is a material misstatement of this other
information, we are required lo report that fact.
We have nothing to report in this regard.
Opinions on other matter prescribed by the Companies Act 2006
In our opinion, based on the work underlaken in the course of the audit..
the information given in the trustees. report. which indudes the directors. report prepared for Ihe purposes of company
law, for the finan￿al year for which the financial ststements are prepared is consistenl with the financial statements.,
and
the directors, report included within the trustees. report has been prepared in accordance with applicable legal
requirements.
Matters on which we are required to report by exception
In the light of the knowledge and understanding of the charitable company and its environment obtained in the course of
the audit, we have not identified malerial misststements in the directors, report induded within the trustees. report.
We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to
report to you if, in our opinion..
adequate accounting records have not been kept, or retums adequate for our audit have not been received from
branches not visited by us., or
the financial statements are not in agreement with the accounting records and returns., or
certain disdosures of trustees, remuneration specified by law are not made", or
we have nol re￿iVed all the infomiation and explanations we require for our audit.
Responsibilities of trustees
As explained more fully in the Irustees. responsibilities statement set out on page 2, the Irustees (who are also the
directors of the charitable company for the purposes of company law) are responsible for the preparation of the financial
stalements and for being salisfied thal they give a true and fair view, and for such inlernal conlrol as the truslees delemine
is necessary to enable the preparation of finanaal statements that are free from material misstatement, whether due to
fraud or error.
In preparing the financial statements. the trustees are responsible for assessing the charitable company's ability to
continue as a going concem. disciosing. as applicable, matters relaled to going concern and using the going concem basis
of accounting unless the trustees either intend to liquidate the charitable company or to cease operations, or have no
realislic allernative but to do so.
Page 6

SUNLEY ORFORD RETIREMENT HOMES
(A company limited by guarantee)
INDEPENDENT AUDITORS, REPORT TO THE MEMBERS OF SUNLEY
ORFORD RETIREMENT HOMES (CONTINUED)
Auditors. responsibilities for the audit of the financial statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from
material misstatement, whether due to fraud or error, and to issue an auditorfs report that includes our opinion. Reasonable
assurance is a high level of assurance. but is not a guarantee that an audit conducted in accordance with ISAS (UK) will
always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered
malerial if, individually or in the aggregate. they could reasonably be expected lo Influen￿ Ihe economic decisions of users
taken on the basis of these financial statements.
Irregulartties, including fraud, are InStan￿S of non-complian￿ wilh laws and regulations. We design procedures in line
with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The
extenl to which our procedures are capable of detecting irregularities. induding fraud is detailed below=
Extent to which the audit was considered capable of detecting irregularities, including fraud
The objectives of our audii. in respect to fraud. are= to identify and assess the risks of material misstatement of the financial
stalements due to fraud- to obtain suffiaent appropriate audit evidence regarding the assessed risks of malerial
misstatement due to fraud, through designing and implementing appropriate responses., and to respond appropriately to
fraud or suspected fraud identified during the audit. However. the primary responsibility for Ihe prevention and deleclion of
fraud rests with both those charged with govemance of the entity and its management.
Our approach was as follows=
We identified areas of laws and regulations that could reasonably be expected to have a material effect on the
financial statements from our general commercial and sector experience. and through discussion with the directors
and other management (as required by auditing standards). and discussed with the direclors and olher management
the policies and procedures regarding Complian￿ with laws and regulations,.
We considered the legal and regulatory frameworks directly applicable to the financial statements reporting framework
IFRS 102 and the Companies Act 2006) and the relevant lax Cornplian￿ regulations in the UK-
We considered the nalure oflhe industry, the control environment and business perforn)an￿, induding Ihe key drivers
for management's remuneration-
We communicated identified laws and regulations throughout our team and remained alert to any indications of non-
Complian￿ throughout the audit:
We considered the prO￿dureS and controls that the company has established to address risks identified. or thal
othe￿Il$e prevent, deter and detect fraud; and how senior management monitors those programmes and controls.
Based on this understanding we designed our audit prO￿dureS to identify non-compliance with such laws and regulations.
Where the risk was considered to be higher. we performed audit prO￿dureS to address each identified fraud risk. These
procedures included= testing manual joumals.. ￿VIewIng the financial statement disdosures and testing to supporting
documentation,. performing analyiical procedures.. and enquiring of management, and were designed to provide reasonable
assuran￿ Ihat the financial statements were free from fraud or error.
Owing io Ihe inherent limitations of an audit, there is an unavoidable risk that we may not have delected some material
misstatements in the financial statements. even though we have properly planned and performed our audit in accordance
with auditing standards. For example, Ihe furlher removed non-complian￿ with laws and regulations (irregularities) is from
the events and transactions reflected in the financial statements, the less likely the inherently limited procedures required
by auditing standards would identify it. The risk is also greater regarding irregularities occurring due to fraud rather than
error, as fraud involves intentional concealment. forgery. collusion. omission or misrepresentation. We are not responsible
for preventing non-compliance and cannot be expected to delect nonwcompliance wilh all laws and regulations.
A further description of our responsibilities for the audit of the financial stalements is localed on the Financial Reporting
Council's website at www.froorg.uklauditorsresponsibilities. This description forms part of our Report of the Independent
Auditors.
We communicate with those charged with govemance regarding, among other matters. the planned scope and timing of
the audit and significant audit findings, induding any significant deficiencies in internal control that we identify during our
audit.
Page 7

SUNLEY ORFORD RETIREMENT HOMES
(A company limited by guarantee)
INDEPENDENT AUDITORS, REPORT TO THE MEMBERS OF SUNLEY
ORFORD RETIREMENT HOMES (CONTINUED)
Use of our report
This report is made solely to the charilable company s members. as a body. in accordan￿ with Chapter 3 of Part 16 of the
Companies Act 2006. Our audit work has been undertaken so that we might state to the charitable company's members
those matters we are required to state to Ihem in an auditorfs ￿port and for no other purpose. To the fullesl extent
permitted by law, we do not accept or assume responsibility to anyone other than the charitable company and the
charitable company s members as a body. for our audtl work. forthis report, or forthe opinions we have formed.
James Pearce FCA (Senior Statutory Auditor)
for and on behalf of TC Group
Statutory Auditors
Vivian House
Newham Road
Truro
Comwall
TR1 2DP
Date: 26 January 2026
Page 8

SUNLEY ORFORD RETIREMENT HOMES
(A company limited by guarantee)
STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING INCOME AND
EXPENDITURE ACCOUNT)
FOR THE YEAR ENDED 31 MARCH 2025
Unrestricted
funds
2025
Restricted
funds
2025
Total
funds
2025
Total
fvnds
2024
Note
Income from:
Inveslmenls
454.790
6.976
461.766
433,046
Total incorne
454.790
6,976
461,766
433,046
Expenditure on:
Raising funds
Charitable activities
19.494
638.061
19,494
639.739
18,169
383,110
1.678
Total expenditure
657.555
1.678
659.233
401,279
Net lexpenditurellincome before net
(lossesllgains on investments
Nel (losses)Igains on investments
1202.765)
(67.764)
5.298
(197.467)
{67.764)
31,767
516, 128
Net movement in funds
1270,529)
5,298
(265,231)
547,895
Reconciliation of funds:
Total funds brought fO￿ard
Net movement in funds
6.401.076
1270.529)
142,224
5,298
6.543,300
(265,231)
5,995,405
547,895
Total funds carried forward
6.130,547
147.522
6.278.069
6,543,300
The Statement of financial activities indudes all gains and losses recognised in the year.
The notes on pages 11 to 21 form part of these finanual ststements.
Page 9

SUNLEY ORFORD RETIREMENT HOMES
(A company limited by guarantee)
REGISTERED NUMBER: 02968889
BALANCE SHEET
AS AT 31 MARCH 2025
2025
2024
Note
Fixed assets
Tangible assets
Investments
2.096.473
3.415.774
2,008,026
3,483,538
5.512,247
5,491,564
Current assets
Debtors
10
14,847
830,542
26, 783
1.082,981
Cash at bank and in hand
845.389
1,109, 764
Current liabilities
Creditors.. amounts falling due within one year
11
(79,567)
(58,028)
Net current assets
765,822
1,051, 736
Total assets less current liabilities
6.278,069
6,543.300
Total net assets
6.278.069
6,543,300
Charity funds
Restricted funds
Unrestricted fvnds
12
147,522
6.130,547
142,224
6,401,076
12
Total funds
6,278,069
6,543, 300
The entity was entitled to exemption from audit under section 477 of the Companies Act 2006.
The members have not required the entity to obtain an audit for the year in question in accordance with section 476 of the
Companies Act 2006.
However, an audit is required in accordance with section 144 of the Charities Act 2011.
The Trustees acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting
records and preparation of financial statements.
The financial stalements have been prepared in accordan￿ with the provisions applicable to entities subject to the small
companies regime.
Thp financial stateme.
iisTrapproved and authorised for issue by the Trustees and signed on their behalf by:
J B Sunley
Trustee
Date: 26101126
The notes on pages 11 to 21 form part of these financial statements.
Page 10

SUNLEY ORFORD RETIREMENT HOMES
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
Accounting policies
1.1 Basis of preparation of financial statements
The financial statements have been prepared in accordance with the Charrties SORP (FRS 1021- Accounting
and Reporting by Chartties.. Slatement of Recommended Praclice 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 Ihe UK and Republic of
Ireland (FRS 102) and the Companies Act 2006.
Sunley Orford Retirement Homes meets the definition of a public benefit enlity under FRS 102. Assets and
liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant
accounting policy.
The presentation currency of the financial statements is the Pound Sterling (£).
1.2 Going concem
The Trustees consider there are no material Un￿rtaIntieS about the Charity's ability to continue as a going
COn￿rn. The review of our financial wjsition. reserves levels and future plans gives Directors confidence the
charity remains a going COn￿M for the foreseeable future.
1.3 Income
All income is recognised On￿ the chartty has entitlement to income, it is probable that income will be received
and the amount of income receivable can be measured reliably. Investment income is recognised on a
receivable basis once the amounts can be measured reliably.
Rental and service charge income is recognised on a monthly basis, by reference to the agreements entered.
1.4 Expenditure
Resources expended are recognised in the period in which they are incurred. Resources expended include
attributable VAT which cannol be recovered.
Resources expended consisls of support costs and g0Veman￿ costs. which are allocated to areas of activity
in line with the level of direct cnsts for each area of activity-
Expenditure on raising funds relates to the costs of managing the investment portfolio.
1.5 Allocation and apportionment of costs
Support costs are allocated to either charitable activities, when applied in order to meet its charitable
objeclives or lo govemance costs when costs are incurred in relalion to the constitulional and stalulory
requirements of the charity- Govemance costs comprise all costs involving the public accountability of the
charity and its compliance with regulation and good practice. These costs include cosls related to statutory
audit and professional fees.
Page11

SUNLEY ORFORD RETIREMENT HOMES
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
Accounting policies (continued)
1.6 Tangible fixed assets and depreciation
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful
life.
Freehold propety
Fixtures and fittings
not depreciated and Straight line over 50 years
20 % straight line
Fixed assets are stated at cost or deemed cost (donated valuation at estimated fair values) less accumulated
depreciation and impainnent losses. Assets ¢x)sting more than £1,000 are capitalised.
1.7 Taxation
Sunley Orford Retirement Homes is a registered chartty and therefore is not liable to income tax or corporation
tax on income derived from its charitable activities. as it falls within the various exemptions available to
registered charilies.
1.8 Foreign exchange
Monetary assels and liabilities denominated in foreign currencies are translated at the year end rale of
exchange. Transactions denominated on foreign cU￿en￿eS are translated at the rates prevailing at the
Iransaction date.
1.9 Fund accounting
The General Fund is the balancing fund and is totally committed for long temi refurbishmenls lo Sunley Orford
House.
The Capital Fund is a designated fvnd which mirrors the net book value of the tangible fixed assets, reflects
the excess of depreciation over other f￿ed asset purchases.
The Renewals Fund. which is the only restricted fvnd. provides for the replacement of items of a communal
nature at Sunley Orford House. The residents pay into this fund through their Servi￿ charge.
1.10 Financial instruments
The charity only has finanaal assets and finanaal liabilities of a kind that qualify as basic financial
inslruments.
Basic financial instruments are initially recognised at transaction value and subsequenlly measured al their
settlement value.
1.11 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.
1.12 Cash at bank and in hand
Cash at bank and cash in hand indudes cash and shorl 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.
Page 12

SUNLEY ORFORD RETIREMENT HOMES
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
Accounting policies (continued)
1.13 Creditors and provisions
Creditors and provisions are recognised where the charity has a present obligation resulting from a past event
thal will probably result in the transfer of fvnds to a third party and the amount due lo selue the obligation can
be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement
amount.
1.14 Estimates and judgements
Estimates and judgements are continually evaluated and are based on historical experience and olher faclors.
including expectations of future events that are believed to be reasonable under the circumstances. Although
these estimales are based lo be reasonable under the circumstances. Although these estimales are based on
management's best knowledge of the amount, events or actions. actual results ultimately may differ from
those estimates. The direclors consider that there are no areas of judgement and estimation that have a
significant effect on the financial statements.
1.15 Critical Judgements
The trustees do not bdieve there are any critical judgements that have been made in applying the charity's
accounting policies.
1.16 Basic financial assets
Basic financial assets. which include trade and other deblors. are initially measured at Iransaclion price
including transaction costs and are subsequently Ca￿led at amortised cost using the effective interest method
unless the arrangement constitules a financing transaction, where the financial assel is measured at the
present value of the future re￿iptS discounted at a market rate of interest.
Financial assets, other than those held at fair value through profit and loss, are assessed for indicators of
impairmenl at each reporting end date.
Financial assels are impaired where the￿ is objective evidence that, as a result of one or more evenls that
occurred after the initial recognition of the financial asset. the future cash flows have been affected. If an asset
is impaired, the impairment loss is the difference belween the carrying amounl and the present value of Ihe
estimated cash flows discounted at the assefs original effective interest rate. The impairment loss is
recognised in profit or loss.
1.17 Basic financial liabilities
Basic financial liabilities, induding trade, other creditors. are initially recognised at transaction price unless the
arrangement constitutes a financing transadion. where the debt instrument is measured at the present value
of the future payments discounted at a market rate of interest.
Debt inslruments are subsequently carried at amortised cost, using the effective inleresl rate method.
Financial liabilities are derecognised when, and only when, the charity's contractual obligations are
discharged, can￿lled. or they expire.
Page 13

SUNLEY ORFORD RETIREMENT HOMES
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
Investment income
Unrestricted
funds
2025
Restricted
funds
2025
Total
funds
2025
Total
funds
2024
Rental income
288,473
47,693
84,572
34,052
288,473
47,693
84,572
41,028
261,363
46,878
71,469
53, 396
Listed investment income
Service charge
Bank interest
6,976
454,790
6,976
461.766
433,046
Total 2024
426, 782
6,264
433,046
Expenditure on raising funds
Investment management costs
Unrestricted
funds
2025
Total
funds
2025
Total
funds
2024
Investment management costs
19,494
19,494
18,169
Total 2024
18,169
18,169
Analysis of expenditure by activities
Support
costs
Totsl
funds
2025
Total
funds
2024
2025
Support Costs
639,739
639.739
383,110
Total 2024
383, 110
383, 110
Page 14

SUNLEY ORFORD RETIREMENT HOMES
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
Analysis of expenditure by activities (continued)
Analysis of support costs
Total
funds
2025
Total
funds
2024
Activities
2025
Depreciation
Services
142,957
81,421
277,065
9,522
45,119
35,922
564
142.957
81.421
277.065
9.522
45.119
35.922
564
71, 102
77,179
117,663
8,468
35,398
24,445
1,953
1, 146
10,000
10,644
178
Property Costs
Insurance
Legal and Professional
Supervision Cosls
Travel and Enlertainment
offi￿ and Computer Costs
Management Fees
Consultancy
Bank Charges
Donation
586
586
12,043
123
12.043
123
9,000
25,417
9.000
25.417
5, 000
19,934
Govemance Costs
639,739
639,739
383,710
Total 2024
383,110
383, 110
Analysis of governance costs
2025
2024
Legal and Professional
Audit and Accountancy Fees
Insurance
7.595
14.854
2.968
4,606
12,360
2,968
25.417
19,934
Auditors. remuneration
The auditors, remuneration amounts to an auditor fee of £14,854 (2024- £12,360).
Page 15

SUNLEY ORFORD RETIREMENT HOMES
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
Trustees. remuneration and expenses
During the year. no Trustees received any remuneration or other benefits (2024 - £NIL).
During the year ended 31 March 2025. expenses for travel and accomodation totalling £1,584 were reimbursed or
paid directly to 1 Trustee (2024 - £1. 109).
The charity is prohibited by its constitution from paying salaries, remuneration or benefits in money or monies worth
to ils Irustees or any dividends, bonus or share of profits lo its members.
Average number of employees
Average number of employees during the year was O (2024- 0).
Tangible fixed assets
Freehold Fixtures and
property
fittings
Total
Cost or valuation
At 1 April 2024
Additions
2.535.109
806.516
231.404
3.341.625
231.404
At 31 March 2025
2.535,109
1.037,920
3.573.029
Depreciation
At 1 April 2024
Charge for Ihe year
987,275
42,702
346.324
100.255
1.333.599
142.957
At 31 March 2025
1.029,977
446,579
1.476.556
Net book value
At 31 March 2025
1.505.132
591.341
2.096.473
At 31 Ma￿￿ 2024
1.547,834
460, 192
2.008, 026
The cost of land induded amounts to £400.000 (2024: £400.000).
Page 16

SUNLEY ORFORD RETIREMENT HOMES
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
Fixed asset investments
Listed
investments
Cost or valuation
At 1 April 2024
Revaluations
3.483.538
{67.764)
At 31 March 2025
3.415,774
Net book value
At 31 March 2025
3.415,774
At 31 Ma￿h 2024
3,483,538
All investments are listed on the UK stock exchange.
Cost or valuation at 31 March 2025 is represented by=
Listed
Investments
Valualion in 2025
Valuation in 2024
Valuation in 2023
Valuation in 2022
Valuation in 2021
Cost
(67,764)
516,129
{4,884)
292,873
279,420
2.400,000
3,415,774
If the listed investments had not been revalued they would have been induded at the following historical cost..
2025
2024
Cost
2,400.000
2,400.000
Fixed asset investments were valued on an open market basis on 31 March 2025 by Blackrock and Fundsmith.
The valuation gain of £279,420 in 2021 is made up of all valuation movements prior to 31 March 2021.
Page 17

SUNLEY ORFORD RETIREMENT HOMES
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
10.
Debtors
2025
2024
Due within one year
Trade debtors
1.842
2,386
9,486
14,911
other debtors
Prepayments and accrued income
13.005
14.847
26, 783
11.
Creditors: Amounts falling due within one year
2025
2024
Trade creditors
59,481
20,086
41,551
16,477
Accruals and deferred income
79.567
58.028
Page 18

SUNLEY ORFORD RETIREMENT HOMES
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
12.
Statement of funds
Statement of funds - current year
Balance at 1
April 2024
Transfers
inlout
Gainsl Balance at 31
{Lossesl
March 2025
Income
Expenditure
Unrestricted
funds
General Fund
Capital Fund
4.393.050
2.008.026
454.790
(514.598)
(142.957)
(231.404)
231.404
(67.764)
4.034.074
2.096.473
6.401,076
454,790
(657.555)
(67,764)
6,130,547
Restricted
funds
Renewals Fund
142.224
6.976
(1.678)
147.522
Total of funds
6,543,300
461,766
1659,233)
(67,764)
6,278,069
The Renewals Fund:
The renewals fund provides for the repla￿ment of items of a communal nature at Sunley Orford House. The
residents pay into this fund through their Servi￿ charge. The interest that has been eamed and applied to this
restricted fund in the yearto 31 March 2025 is £6,976 {2024= £6.264).
Movernent in funds:
The balance of the movement in the Capital Fund, which mirrors the net book value of Ihe tsngible fixed assets,
reflects the excess of fixed asset purchases over depreciation.
Page 19

SUNLEY ORFORD RETIREMENT HOMES
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
12.
Statement of funds (continued)
Statement of funds - prior year
Balance at
31 March
2024
Balance at
1 Apnl 2023
Transfers
in/out
Gains/
(Losses)
Income
Expenditure
Unrestricted
funds
General Fund
4, 132,595
1, 721,557
426, 782
(324,884)
(77, 102)
(357,571)
357,571
516,128
4,393,050
2,008,026
Capital Fund
5, 854, 152
426, 782
(395,986)
516, 128
6,401,076
Restricted
funds
Renewals Fund
141,253
6.264
(5.293)
142,224
Total of funds
5, 995,405
433,046
(401,279)
516, 128
6, 543,300
13.
Analysis of net assets between funds
Analysis of net assets between funds - current year
Unrestricted
funds
2025
Restricted
funds
2025
Totsl
funds
2025
Tangible fixed assets
Fixed asset investments
2,096,473
3,415,774
697,867
{79,567)
2.096.473
3.41 S.774
845.389
179.5671
Current assets
Creditors due within one year
147,522
Total
6.130,547
147,522
6.278.069
Page 20

SUNLEY ORFORD RETIREMENT HOMES
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
13.
Analysis of net assets between funds (continued)
Analysis of net assets between funds - prior year
Unrestricted
funds
2024
Restricted
funds
2024
Total
funds
2024
Tangible fixed assets
Fixed asset investments
2,008,026
3,483,538
967,540
(58,028)
2,008, 026
3,483, 538
1,109, 764
(58, 028)
Current assets
142,224
Creditors due within one year
Total
6,401,076
142,224
6,543,300
14.
Related party transactions
If the company is wound up or dissolved. the Bemard Sunley Foundation is the nominated beneficiary of the
remaining nel assets of the company.
During the year Ihe Bemard Sunley Foundation was paid £Nil (2024.. £10,000) for management servI￿s.
During the year Dr Brian W Martin was a trustee of the Bemard Sunley Foundation.
During the year there were no olher related party transactions (2024.. Nil).
15.
Subsequent events
On 14th April 2025 the charity realised its investment portfolio in full prior to transferring the proceeds to a new
investment manager.
16.
Controlling party
The company is limited by guarantee and has no share capital. The liability of the members is limited to a sum
not ex￿edIng £10 per member.
26101126
Page 21