2024-12-31-accounts

Charity number: 1046580

The Betty Shelvey Trust

Trustees' report and financial statements for the year ended 31 December 2024

The Betty Shelvey Trust

Contents

	Page
Reference and administrative details ofthe Charity, its Trustees and Advisers	1
Trustees’ report	2-4
Independent examiner's report	5
Statement of financial activities	6
Balance sheet	7
Notestothefinancialstatements	8-17

The Betty Shelvey Trust

Reference and administrative details of the Charity, its Trustees and Advisers for the year ended 31 December 2024

Trustees

M Griffiths N Bowles J Griffiths ,

Charity registered number

1046580

;

Principal office . The Betty Shelvey Trust Williamson & Barnes 12-14 Queen Street Deal Kent CT14 6EU Independent Examiner MK R Dyer ACA MAAT Kreston Reeves LLP 37 St Margaret's Street Canterbury Kent CT1 2TU

Independent Examiner

Accountants

Kreston Reeves LLP 37 St Margaret's Street . Canterbury Kent CT1 2TU

Bankers

National Westminster Bank 31 High Street Deal Kent ; CT14 6EW

Page 1

' The Betty Shelvey Trust

Trustees’ report

for the year ended 31 December 2024

The Trustees present their annual report together with the financial statements of the Charity for the year from 1 January 2024 to 31 December 2024.

Objectives and activities

a. Policies and objectives

The Charity's objective and its principal activity is to provide dwellings for occupation by needy persons who are elderly or physically disabled, on terms appropriate to their needs, preference being given to married couples resident, at the time of appointment or previously, in the District of Dover, and more particularly in the former Borough of Deal (including Walmer) and the parishes of Sholden and Ringwould (including Kingsdown).

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)’.

Achievements and performance

a. Review of activities

The Trustees are pleased to report that no vacancies arose during the year and all the flats remain occupied.

Following the resignation of Liz Britton as Administrative Assistant, the Trustees have employed Christine Barnett, who took over the role in April 2024.

b. Investment policy and performance

The Trustees have the power to invest Trust money as they in their absolute discretion think fit. Details of the investments held are set out in note 8.

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. Further details regarding the adoption of the going concern basis can be found in the accounting policies.

b. Reserves policy

The Trust does not have a formal reserves policy. However the sums recommended by the Almshouses Association are deposited in the ERF and the CMF each year. The Trustees’ policy is to draw on these funds only for major projects as they are conscious that the majority of the Trust’s income comes from the residents’ weekly contributions with a small amount coming from investments held with COIF. In this way they hope to minimise the impact of any major work required to the flats.

The Trust also maintains a number of designated funds held for numerous purposes described in note 12 of the accounts.

At the period end, there was a balance in the General Fund of £44,072 (2023 - £36,505), in the Cyclical Maintanece Fund there was a balance of £164,079 (2023 - £164,079), in the General Reserves Fund there was a balance of £91,562 (2023 - £87,130) and in the Extraordinary Repair Fund the was a balance of £282,819 (2023 - £269,129).

• Page 2

The Betty Shelvey Trust

Trustees’ report (continued) for the year ended 31 December 2024

c. Financial Performance

Due to changes in residents’ needs, two flats had the bathrooms converted to allow for walk-in showers. Some refurbishments were also made to the kitchens in two of the flats. The cost of these was covered by the Weekly Maintenance Charge received by the Trust and no monies were taken from the ERF or CMF funds.

Since there were substantial funds already in the ERF & CMF account, Trustees agreed to disregard the Almshouse Guidelines for the year and allocated the monies that would have been transferred to the programme of refurbishment that is underway.

During the year ended 31 December 2024, the Trust received income of £75,668 (2023 - £69,331) and had expenditure of £68,101 (2023 - £59,590).

Structure, governance and management

a. Constitution

The Betty Shelvey Trust is a registered charity, number 1046580, and is constituted under a Trust deed.The Betty Shelvey Trust was established by a Declaration of Trust dated 16 December 1994, by the Executors of the Will of Mrs Betty Howard Lushington Shelvey, formerly of Deal, who died on 21 August 1992.

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. Risk management

The Trustees have assessed the major risks to which the Charity is exposed and are satisfied that systems and procedures are in place to mitigate exposure to the major risks.

Plans for future periods

The Trustees have decided to undertake a programme of refurbishment, where needed, in 2025. This will include kitchen refurbishments, a bathroom conversion and carpet replacements. Externally, it is planned to replace the wooden roofline products with UPVC replacements.

Page 3

The Betty Sheivey Trust

Trustees‘ report (continued)

for the year ended 31 December 2024

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 which give a true and fair view of the state of affairs of the Charity and of its income and : application of resources, including its income and expenditure, for that period. In preparing these financial statements, the Trustees are required to:

• ° select suitable accounting policies and then apply them consistently;

• @ observe the methods and principles of the Charities SORP (FRS 102);

• e make judgements and accounting estimates that are reasonable and prudent;

• e state whether applicable UK Accounting Standards (FRS 102) have been followed, subject to any material departures disclosed and explained in the financial statements;

• e 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:

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MGriffiths ~~ ~~
Trustee .
Date: 2 s/é(f2e0218
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NBowles ~~
Trustee
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Page 4

The Betty Shelvey Trust

Independent examiner's report for the year ended 31 December 2024

Independent examiner's report to the Trustees of The Betty Shelvey Trust (‘the Charity’)

| report to the Charity Trustees on my examination of the accounts of the Charity for the year ended 31 December 2024.

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’).

| report in respect of my examination of the Charity's accounts carried out under section 145 of the Act and in carrying out my examination | 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.

| 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 2019.

| have completed my examination. | confirm that no matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:

1. accounting records were not kept in respect of the Charity as required by section 130 of the 2011 Act; or

2. the accounts do not accord with those records; or

3. 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.

| 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.

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 | might state to the Charity's Trustees those matters | am required to state to them in an Independent examiner's report and for no other purpose. To the fullest extent permitted by law, | 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: é A KO Dated: | & uUv5c Zoey MK R Dyer na ken ACA MAAT Kreston Reeves LLP 37 St Margaret's Street Canterbury Kent CT1 2TU

Page 5

;

The Betty Shelvey Trust

Statement of financial activities for the year ended 31 December 2024

			Unrestricted	Total	Total
			funds	funds	funds
			2024	2024	2023
		Note	£	£	£
Income from:
Charitable activities		4	67,278	67,278	62,299
Investments		5	8,390	8,390	6,462
Other income			-	-	570
Total income			75,668	75,668	69,331
Expenditure on:	.
Charitable activities		6	68,101	68,101	56,590
Total expenditure			68,101	68,101	56,590
Net income before net gains on investments			7,567	7,567	12,741
Net gains on investments			18,122	18,122	39,123
Net movement in funds			25,689	25,689	51,864
Reconciliation of funds:
Total funds brought forward			556,843	556,843	504,979
Net movement in funds			25,689	25,689	51,864
Totalfundscarriedforward			582,532	582,532	556,843

The Statement of financial activities includes all gains and losses recognised in the year. The notes on pages 8 to 17 form part of these financial statements.

Page 6

The Betty Shelvey Trust

Balance sheet as at 31 December 2024

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2024 2023
Note £ £
Fixed assets
Investments 9 374,381 356,259
Current assets
Debtors 10 1,664 1,318
Cash at bank and in hand 214,264 201,962.
215,928 203,280
Creditors: amounts falling due within one
year 11 (7,777) (2,696)
Net current assets 208,151 200,584
Total net assets 582,532 556,843 .
—————— see
Charity funds |
_ Unrestricted funds 12 582,532 556,843
Total funds 582,532 556,843
————————— . ————————————==
The financial statements were approved and authorised for issue by the Trustees and signed on their behalf by:
Trustee Trustee
Date: 2 | of 2025 .
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The notes on pages 8 to 17 form part of these financial statements.

Page 7

The Betty Shelvey Trust

Notes to the financial statements for the year ended 31 December 2024

1. General information

The Charity is an unincorporated charity, incorporated in England and Wales, with the charity number 1046580. The Charity's objective and its principal activity is to provide dwellings for occupation by needy persons who are elderly or physically disabled, on terms appropriate to their needs, preference being given to married couples resident, at the time of appointment or previously, in the District of Dover, and more particularly in the former Borough of Deal (including Walmer) and the parishes of Sholden and Ringwould (including Kingsdown). The Charity's registered office is The Betty Shelvey Trust, Williamson & Barnes, 12-14 Queen Street, Deal, Kent, CT14 6EU.

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 financial statements have been prepared to give a ‘true and fair’ view and have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a ‘true and fair’ view. This departure has involved following the Charities SORP (FRS 102) published on 16 July 2014 rather than the Accounting and Reporting by Charities: Statement of Recommended Practice effective from 1 April 2005 which has since been withdrawn.

The Betty Shelvey Trust 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 UK sterling, which is the Charity's functional currency,and rounded to the nearest pound.

2.2 Going concern

The Trustees assess whether the use of going concern is appropriate i.e. whether there are any material uncertainties related to events or conditions that may cast significant doubt on the ability of the Charity to continue as a going concern. The Trustees make this assessment in respect of a period of at least one year from the date of authorisation for issue of the financial statements and have concluded that the Charity has adequate resources to continue in operational existence for the . foreseeable future and there are no material uncertainties about the Charity's ability to continue as a going concern, thus they continue to adopt the going concern basis of accounting 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.

Income tax recoverable in relation to investment income is recognised at the time the investment income is receivable.

Page 8

The Betty Shelvey Trust

.

Notes to the financial statements for the year ended 31 December 2024

2. Accounting policies (continued)

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.

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 Taxation

The Charity is considered to pass the tests set out in Paragraph 1 Schedule 6 of the Finance Act 2010 and therefore it meets the definition of a charitable company for UK corporation tax purposes. Accordingly, the Charity is potentially exempt from taxation in respect of income or capital gains received within categories covered by Chapter 3 Part 11 of the Corporation Tax Act 2010 or Section 256 of the Taxation of Chargeable Gains Act 1992, to the extent that such income or gains are applied exclusively to charitable purposes.

2.7 Investments

Fixed asset investments are a form of financial instrument and are initially recognised at their transaction cost and subsequently measured at fair value at the Balance sheet date, unless the value cannot be measured reliably in which case it is measured at cost less impairment. Investment gains and losses, whether realised or unrealised, are combined and presented as ‘Gains/(Losses) on investments’ in the Statement of financial activities.

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2.8 Debtors

)

Trade and other debtors are recognised at the settlement amount. Prepayments are valued at the amount prepaid.

2.9 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.

Page 9

The Betty Shelvey Trust

Notes to the financial statements for the year ended 31 December 2024

2. Accounting policies (continued)

2.10 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.

2.11 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.

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2.12 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.

Designated funds comprise unrestricted funds that have been set aside by the Trustees for particular purposes. The aim and use of each designated fund is set out in the notes to the financial statements.

1. Critical accounting estimates and areas of judgement

Estimates and judgements are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Critical accounting estimates and assumptions:

The Charity makes estimates and assumptions concerning the future. The resulting accounting estimates and assumptions will, by definition, seldom equal the related actual results. The Charity does not currently have any significant accounting estimates or areas of judgement.

4. Income from charitable activities

	Unrestricted	Total		Total
	funds	funds		funds
	2024	2024		2023
	£	£	.	£
Residents Contribution	67,278	67,278		62,299
Total2023	62,299	62,299

Page 10

The Betty Shelvey Trust

Notes to the financial statements

for the year ended 31 December 2024

4. Income from charitable activities (continued)

5. Investment income

	Unrestricted	Total	Total
	funds	funds.	funds
	2024	2024	2023
	£	£	£
Investment income	8,390	8,390	6,462
Total2023	6,462	6,462

6. Analysis of expenditure by activities

:	Activities
	undertaken	Support	Total	Total
	directly	costs	funds	funds
	2024	2024	2024	2023
	£	£	a 3	£
Charitable activities	66,682	1,419	68,101	56,590
Total2023	55,254	1,336	56,590

,

Page 11

The Betty Shelvey Trust

Notes to the financial statements

for the year ended 31 December 2024

6. Analysis of expenditure by activities (continued)

Analysis of direct costs

			Charitable activities	Total funds	Total funds
			2024	2024	2023
			£	£	£
'	Staff costs		6,292	6,292	5,998
	Telephone		2,286	2,286	2,628
	Electricity		16,785	16,785	17,002
	Water& sewage charges		4,595	4,595	4,229
	SDC Lifeline		1,966	1,966	1,862
	Insurance of property		2,629	2,629	2,519
	Garden expenses		2,880	2,880	2,560
	Repairs & improvements		27,507	27,507	18,117
	Almshouses subscription		350	350	225
	Advertising		560	560	-
	Printing & stationery		45	45	-
	Sundryexpenses		198	198	114
	Exp type 17		589	589	-
			66,682	66,682	55,254
	Total 2023		55,254	55,254
	Analysis ofsupport costs
		.
	-		Charitable activities 2024	Total funds 2024	Total funds 2023
			“_£	£	£
	Independent examiner's fees		1,419	1,419	1,336
	Total2023		1,336	1,336

7. Trustees’ remuneration and expenses

During the year, no Trustees received any remuneration or other benefits (2023 - £NIL).

During the year ended 31 December 2024, no Trustee expenses have been incurred (2023 - ENIL).

Page 12

The Betty Shelvey Trust

Notes to the financial statements

for the year ended 31 December 2024

8. Staff costs

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|||||| |---|---|---|---|---| |2024|2023| |£|£| |Wages|and|salaries|6,292|5,998| |6,292|5,998|

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The average number of persons employed by the Charity during the year was as follows:

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||| |---|---| |2024|2023| |No.|No.| |1|1|

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No employee received remuneration amounting to more than £60,000 in either year.

The only individuals considered to be key management personnel are the Trustees, whom receive no remuneration for the services they provide (2023 - ENil).

9. Fixed asset investments

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||||||| |---|---|---|---|---|---| |Listed| |investments| |£| |Cost|or|valuation| |At|1|January 2024|356,259| |Revaluations|18,122| |~|At|31|December|2024|374,381| |Net|book|value| |At|31|December 2024|374,381| |*|At|31|December 2023|356,259| |Investments|at|market value|comprise:| |2024|©|2023| |£|£| |Listed|investments|374,381|356,259|

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All the fixed asset investments are held in the UK.

Page 13

The Betty Shelvey Trust

Notes to the financial statements for the year ended 31 December 2024

Material investments

								2024	2023
								£	£
COIF	Charities	Investment	Fund	Accumulation	Units	-	GRF	91,562	87,130
COIF	Charities	Investment	Fund	Accumulation	Units	-	ERF	282,819	269,129
								374,381	356,259	-

10.	Debtors
		2024	2023
		£	£
	Due within one year
	Prepaymentsandaccruedincome	1,664	1,318

:

Page 14

The Betty Shelvey Trust

Notes to the financial statements for the year ended 31 December 2024

11. Creditors: Amounts falling due within one year

,

				2024	2023
				£	£
Creditors and Accruals				7,777	2,696
Statement offunds
Statement offunds - currentyear	year
					Balance at
	Balance at 1				31
	January 2024	Income	Expenditure	Gains/ (Losses)	December 2024
	£	£	£	£	£
Unrestricted funds
Designated funds
Cyclical Maintenance Fund	164,079	-	-	”	164,079
General Reserves Fund	87,130	-	“	4,432	91,562
Extraordinary Repair Fund	269,129	-	-	13,690	282,819
	520,338	-	-	18,122	538,460
General funds
General Funds	36,505	75,668	(68,101)	-	44,072
TotalUnrestrictedfunds	556,843	75,668.	(68,101)	18,122	582,532

12. Statement of funds

Designated Funds

Cyclical Maintenance Fund - The Trust maintains a reserve fund for the purpose of providing for the ordinary maintenance and repair of the properties, this is added to each year in line with the recommendations made in the Almshouses Association Specimen Outline Budget. These funds are held _ in a deposit account.

General Reserves Fund - The Trust maintains a further fund to supplement the Extraordinary repair fund. These funds are held as COIF Charities Investment Fund Accumulation units.

Extraordinary Repair Fund - The Trust maintains a reserve fund for the purpose of providing for the extraordinary repair and improvement of the properties. These funds are held as COIF Charities Investment Fund Accumulation units.

Page 15

:

The Betty Shelvey Trust

Notes to the financial statements

for the year ended 31 December 2024

12. Statement of funds (continued)

,

Statement of funds - prior year

)

	-						Balance at
		Balance at					31
		1 January 2023	Income	Expenditure	Transfers in/out	Gains/ (Losses)	December 2023
		£	£	£	£	£	£
	Unrestricted
	funds
-	Designated
	funds
	Cyclical
	Maintenance
	Fund	147,577	-	-	16,502	-	164,079
	General
	Reserves Fund	77,429	-	-	-	9,701	87,130
	Extraordinary
	Repair Fund	233,567	-	-	6,140	29,422	269,129
		458,573	-	-	22,642	39,123	520,338
	General funds
	General Funds	46,406	69,331	(56,590)	(22,642)	-	36,505
	Total
	Unrestricted
	funds	504,979	69,331	(56,590)	-	39,123	556,843

Page 16

The Betty Shelvey Trust

.

Notes to the financial statements

for the year ended 31 December 2024

13. Analysis of net assets between funds

Analysis of net assets between funds - current period

		Unrestricted	Total
		funds	funds
		2024	2024
		£	£
Fixed	asset investments	374,381	374,381
Current assets		215,928	215,928
Creditors due within one year		(7,777)	(7,777)
Total		582,532	582,532
Analysis of netassets between funds - prior period
		Unrestricted	Total
		funds	funds
		2023	2023
		£	£
Fixed	asset investments	356,259	356,259
Current assets		203,280	203,280
Creditors due within one year		(2,696)	(2,696)
Total		556,843	556,843

14. Related party transactions

The Charity has not entered into any transactions with related parties during the financial year (2023 - E£Nil) and at the Balance Sheet date there are no amounts outstanding with them (2023 - £Nil).

Page 17