THE CHRISTOPHER AND SARAH ALDAM BOWLYS ALMSHOUSE CHARITY REPORT OF THE TRUSTEES AND UNAUDITED ACCOUNTS FOR THE YEAR ENDED 31ST MARCH 2026 THE CHRISTOPHER AND SARAH ALDAM BOWLYS ALMSHOUSE CHARITY ACCOUNTS FOR THE YEAR ENDED 31ST MARCH 2026 INDEX Pa Report of the Trustees Report of the Independent Examiner Receipts and Payments Statement of Assets and Liabilities Notes to the Accounts THE CHRISTOPHER AND SARAH ALDAM BOWLYS ALMHOUSE CHARITY REPORT OF THE TRUSTEES stees subniit tlieir report and financial statements for the year ended 31 st March 2026. ob ectives and activities of the Chari The Charity is regulated by a scheme dated 15th October 1993. The Charity is a registered Charity number 1043589. The principal activity of the Charity is to provide almshouses in Cirenéester and a qualification of residence is that residents shall be poor persons who are inhabitants of the parish of Cirencester and adjoining parishes with preference for persons who are members of the Society of Friends. In the absence of suitably qualified applicants the Trustees may appoint a poor person who is an inhabitant of the County of Gloucestershire. In planning our activities for the year, we kept in mind the Charity Commission guideline on public benefit at our trustee meetings. Histo Achievements and rfonnance of the Trust The Charity has 16 almshouses and does not intend to increase its housing stock but focuses mainly on maintaining its present stock in good repair and condition with appropriate facilities to meet the needs of its beneficiaries and to make improvements when the opportunity arises. During 2025126, 25 Watermoor Road was fully refurbished, including a new kitchen and bathroom suite and work to bring the extemal toilet inside. It is now occupied. Work was carried out to extend the guttering on Nos 5-21 Watermoor Road to future proof the houses against extreme weather. The path along the back of these properties was redone with better drainage to prevent flooding. A small amount of remedial work is still needed to be done. The roof of the archway between No 8 and No 10 has been insulated and has significantly improve the wamith in these two houses. The derk continues to visit monthly so that residents can report any maintenance or repairs required in their properties. Work continues to be done on improving EPC ratings on all properties to enhance the resilience of the properties for predicted climate changes. Annual gas safety checks have been carried out and Legionella checks have been undertaken. Financial review investment olic and reserves Net payments for the year were £516 (2025 net receipts - £3,650) There are no restrictions on the Charity's power to invest. The Trustees seek advi￿ from stockbrokers. Bearing in mind the Charity's strong Quaker background the Trustees have adopted a policy of ethical investment and in order to pursue this have appointed Rathbones who provide the relevant specialist advice. The Charty maintains unrestricted funds, the free reserves of the Charity (those funds which are not invested in fixed assets, designated for a specific purpose or othe￿iSe committed) at a level sufficient to cover expected annual general expenditure. The adequacy of the reserves policy is reviewed annually. It is the intention of the Trustees to add to the Major Repairs Fund at the rate of at least £10,000 per annum. THE CHRISTOPHER AND SARAH ALDAM BOWLYS ALMSHOUSE CHARITY REPORT OF THE TRUSTEES CONTINUED Mana ement aiid ovemaiice arraii eiiieiit8 The twst deed piDvides for a Iiiaxiiiiiiin of 12 Triistee8. Three Trustees are appointed by Cirencester Town Council, five by the Society of Frieiids aiid tliree are co-opted. The Incumbent of the benefice of Cirencester is the ex-officio trustee. The cle￿ to tl)e Tnistees is responsible for the induction of any new trustee which involves awareness of a trustee's respoiisibilities, the goveming docuinent, administrative procedures, the history and philosophical approach of the Charity and p￿)videS training course opportunities. During the year the Trustees initiated a review of their investment strategy with particular attention to ensuring that the investments held sit comfortably with the ethos of the Charty. e Trustees who seNed during the year were: _ . Gunne Mrs. A. Boxall Mr. P. Freke Mrs J Hincks Mrs P Stevens Reverend R Franklin Mrs E A Pill Reverend Canon G Morris Mrs. J. Stringer Mrs N Bloomer The Trustees annually ￿VIeW the risks that the Charity faces. Recently these have mainly related to investment management, and these have been ameliorated by diversified portfolio management Trustees rofessional advisers and corres ondence address rustees: Mrs. J. Gunner (Chairman) Mrs. A. Boxall Reverend Canon G Morris Mrs. J. Stringer Mrs N. Bloomer Reverend. R. Franklin Mr. P. Freke Mrs P. Stevens Mrs E. A. Pill Mrs J Hincks Mrs C. L. Hawke Treasurer: Ms. A. Pine Independent Examiner: Miss Ruth Herbert FCCA Wenn Townsend Watermoor Point Watermoor Road ciren￿ster Gloucestershire GL7 1LF Lloyds Bank plc 14 Castle Street Cirencester Gloucestershire GL7 1QJ Correspondence Address: 20 The Paddock Cirencester Gloucestershire GL7 1EY THE CHRISTOP14ER AND SARAH ALDAM BOWLYS ALMSHOUSE CHARITY CONTINUED REPORT OF THE TRUSTEES Trustees res oiislbllities Tlie Tni8tees a￿ re8poiisible for preparing tlie Trustees, Annual Report and the financial statements in accordance with applicable law and United Kiiigdom Accounting Slandards (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 receipts and payments for that period. The Trustees are responsible for keeping proper 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 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, ,1( a,- Mrs J Gunner On behalf of the Trustees Date. 26th May 2026 THE CHRISTOPHER AND SARAH ALDAM BOWLYS ALMSHOUSE CHARITY INDEPENDENT EXAMINERS REPORT TO THE TRUSTEES OF THE CHRISTOPHER AND SARAH ALDAM BOWLYS ALMSHOUSE CHARITY port to the Cliarity Trustees on my exainination of the accounts of the Charity for the year ended 31 st March 2026 which a￿ set out on pages 5 to 9. Responsibilities and basis of report As the Charity's Trustees you are responsible for the preparation of the accounts in accordance with the reqU1￿MentS of the Charities Act 2011 ('the Act,). report in respect of my examination of the Charity's accounts carried out under section 145 of the Act and in carying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act. Independent examiner's statement I have completed my examination. I confim that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect: accounting records were not kept in respect of the Charity as required by section 130 of the Act; or the accounts do not accord with those records. have no cOn￿mS 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. Name: Ruth Herbert FCCA Relevant Professional qualification or body: Chartered Certified Accountant Address: Wenn Townsend Watermoor Point Watermoor Road Cirencester Gloucestershire GL7 1LF Date: 2nd June 2026 THE CHRISTOPHER AND SARAH ALDAM BOWLYS ALMSHOUSE CHARITY RECEIPTS AND PAYMENTS ACCOUNT FOR THE YEAR ENDED 31ST MARCH 2026 Note Unrestricted Funds Restricted Funds Total 2026 2025 Receipts: maintenan￿ Contributions Donation Dividends and Interest Deposit Interest 107,657 107,657 101,922 7,500 5,596 29 5,145 24 5,145 24 112,826 325,939 112,826 325,939 115,047 45,750 Investment Sales Total Receipts 438,765 438,765 160,797 Payments: Property Expenses: Surveyors Insurance Water Charges and Council Tax Repairs and Maintenance Light & Heat 13,721 8,216 12,178 143,414 1,014 13,721 8,216 12,178 143,414 1,014 9,058 7,990 12,534 51,009 1,356 178,543 178,543 81,947 Governance Costs: Wages and Pension fees Investment Managers Fees Accountancy Charges Independent Examiners Fees Treasurers Fees Sundries Loan Charges 26,481 3,000 2,458 1,150 1,270 3,190 26,481 3,000 2,458 1,150 1,270 3,190 17,881 3,000 2,380 1,100 1,472 4,911 37,549 37,549 30,744 Asset and Investment Purchases 4 223,189 223,189 44,456 Total Payments 439,281 439,281 157,147 Net Receiptsl(Payments) for the Year Transfers between funds (516) (516) 3,650 11 Cash Funds brought forward 49,385 49,385 45,735 Cash Funds carried forward £ 48,869 £ 48,869 £ 49,385 THE CHRIST P14ER AND SARAH ALDAM B WLYS ALMSHOUSE CHARITY STATEMENT OF ASSETS AND LIABILITIES 31ST MARCH 2026 Note Unrestrlcted Funds Restrlcted Total 2026 2025 Fixed Assets Housing Properties. Cost 184,680 184,680 184,680 174,104 260,015 Investments 174,104 Total Fixed Assets 358,784 358,784 444,695 Current Assets Debtors Cash Funds 1,835 48,869 1,835 48,869 5,448 49,385 50,704 50,704 54,833 Current Liabilities Creditors 10 4,761 4,761 4,504 50,329 Net Current Assets 45,943 45,943 404,727 404,727 495,024 Net Assets 11 £ 404,727 £ 404,727 £ 495,024 The accounts were approved by the Trustees on 26th May 2026 and signed on its behalf by: Trustees oxall THE CHRISTOPHER AND SARAH ALDAM BOWLYS ALMSHOUSE CHARITY NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31ST MARCH 2026 Maintenance Contributions Recelved 2026 2025 Maintenance Contributions Received Service Charges Received 99,428 8,229 95,946 5,976 £ 107,657 £ 101,922 Emoluments Paid None of the Trustees received any emoluments. The emoluments paid to the Clerk to the Trustees and the Treasurer were as follows: 2026 2025 Emoluments (Induding VAT): Clerk to the Trustees Treasurer £ Nil £ 1,270 £ Nil £ 1,472 The total expenses reimbursed to the Trustees £ Nil £ Nil Staff Costs 2026 2025 ages and Salaries Pension Costs and National Insurance Employers 25,956 525 16,513 1,358 £ 26,481 £ 17,881 There were no employees paid over £60,000. Number of employees in year 2026 1 (2025 1). Asset and Investment Purchases 2026 2025 Property Improvements Investment Purchases 223,189 44,456 £ 223,189 £ 44,456 Taxation he Christopher and Sarah Aldam Bowlys Almshouse Charity is a registered Charity, and is, therefore, exempt from liability to taxation on its Income and Capital Gains. THE CHRISTOPHER AND SARAH ALDAM BOWLYS ALMSHOUSE CHARITY NOTES TO THE ACCOUNTS CONTINUED FOR THE YEAR ENDED 31ST MARCH 2026 Fixed Assets Freeliold Housin Pro erties held for Lettin Com leted Freehold Housin Pro Cost: At 1 st April 2025 Additions in Year 184,680 At 31 st March 2026 184,680 The Housing Properties were donated to the old individual Charities in 1837. There is no record of the original cost and no value is attributed thereto. The above details relate to improvements carried out since 1961, which were part funded by a Social Housing Grant of £17,024. For insurance purposes the value of the almshouses is £5,377,958. Investments Market Value Cost At 31st March 2026 £ 180,785 £ 174,104 At 31st March 2025 £ 266,954 £ 260,015 Debtors 2026 2025 Debtors Prepayments 3,500 1,948 1,835 £1,835 £ 5,448 Cash Funds Lloyds Shawbrook Greenbank Pety Cash 43,184 3,460 2,193 31 43,456 3,436 2,449 44 £ 48,869 £ 49,385 10. Creditors Amounts falling due within one year: Creditors and accruals National Association of Almshouses Loan 4,761 4,429 75 £ 4,761 £ 4,504 THE CHRISTOPHER AND SARAH ALDAM BOWLYS ALMSHOUSE CHARITY NOTES TO THE ACCOUNTS CONTINUED FOR THE YEAR ENDED 31ST MARCH 2026 11. Funds 2026 Unrestricted: General 184,727 185,024 Designated Planned Repairs and Maintenance ReseNe 100,000 150,000 Major Repairs ReseNe 120,000 160,000 Restricted Endowment £ 404,727 £ 495,024 Unrestricted funds comprise those funds which the Trustees are free to use in accordan￿ with the charitable objects. Designated funds are unrestricted funds that have been set aside by the Trustees for particular purposes. The endowment fund represents those assets which must be held by the Charity. Income arising from the endowment fund can be used in accordance with the objects of the Charity and is included as unrestricted income.