Charity number: 1046580
The Betty Shelvey Trust
Trustees' report and financial statements
for the year ended 31 December 2025
The Betty Shelvey Trust
Contents
| Page | |
|---|---|
| Reference and administrative details of the Charity, its Trustees and Advisers | 1 |
| Trustees' report | 2 - 4 |
| Independent examiner's report | 5 |
| Statement of financial activities | 6 |
| Balance sheet | 7 |
| Notes to the financial statements | 8 - 16 |
The Betty Shelvey Trust
Reference and administrative details of the Charity, its Trustees and Advisers for the year ended 31 December 2025
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
M K R Dyer ACA MAAT Kreston Reeves LLP Suite 2 Orchard House Orchard Street Canterbury Kent CT2 8AR
Accountants
Kreston Reeves LLP Suite 2 Orchard House Orchard Street Canterbury Kent CT2 8AR
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 2025
The Trustees present their annual report together with the financial statements of the Charity for the year from 1 January 2025 to 31 December 2025.
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.
The Trustees agreed not to increase the Weekly Maintenance Charge for residents.
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.
Page 2
The Betty Shelvey Trust
Trustees' report (continued) for the year ended 31 December 2025
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.
Trustees aim to maintain, as a minimum, the equivalent of an average three month’s outgoings in the general fund.
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 £33,217 (2024 - £44,702), in the Cyclical Maintenance Fund there was a balance of £145,644 (2024 - £164,079), in the General Reserves Fund there was a balance of £89,777 (2024 - £91,562) and in the Extraordinary Repair Fund the was a balance of £277,305 (2024 - £282,819).
c. Financial Performance
In addition to regular repairs and maintenance, the Trustees undertook a series of refurbishments during the year:
Two flats had complete bathroom refits, including walk-in-showers, handrails, high seat toilets and flooring, to meet the need of the residents.
Three flats has kitchen refurbishments, two of which also had new split-level ovens & hobs, and a further flat has cupboard and sink replacements.
Two flats has new carpet throughout.
The wooden fascias and soffits of all the flats were replaced with uPVC roofline products. This was paid for from the Trust's Cyclical Repair Fund. Although initially a large outlay, there will be minimal maintenance required and the work carries a 10-year guarantee.
These extensive refurbishments meant that there was a deficit between receipts and expense for the year. Therefore, no funds were transferred to the Cyclical or Emergency Repair Funds, which both have strong balances.
Other expenses were in-line with budget.
During the year ended 31 December 2025, the Trust received income of £71,870 (2024 - £75,668) and had expenditure of £101,160 (2024 - £68,101).
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.
Page 3
The Betty Shelvey Trust
Trustees' report (continued) for the year ended 31 December 2025
Structure, governance and management (continued)
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
There are no plans for further refurbishments during 2026. Trustees will continue to ensure that the properties meet or exceed the standards set out by the Almshouse Association, of which the Trust is a member, and the Decent Homes Standard.
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 incoming resources 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);
-
make judgements and accounting estimates that are reasonable and prudent;
-
state whether applicable UK Accounting Standards (FRS 102) have been followed, subject to any material departures disclosed and explained in the financial statements;
-
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:
M Griffiths Trustee Date:
N Bowles Trustee
Page 4
The Betty Shelvey Trust
Independent examiner's report for the year ended 31 December 2025
Independent examiner's report to the Trustees of The Betty Shelvey Trust ('the Charity')
I report to the Charity Trustees on my examination of the accounts of the Charity for the year ended 31 December 2025.
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 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 2019.
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:
-
accounting records were not kept in respect of the Charity as required by section 130 of the 2011 Act; or
-
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.
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: 1 July 2026 M K R Dyer ACA MAAT Kreston Reeves LLP Canterbury
Page 5
The Betty Shelvey Trust
Statement of financial activities for the year ended 31 December 2025
| Note Income from: Charitable activities 3 Investments 4 Total income Expenditure on: Charitable activities Total expenditure Net (expenditure)/income before net (losses)/gains on investments Net (losses)/gains on investments Net movement in funds Reconciliation of funds: Total funds brought forward Net movement in funds Total funds carried forward |
Unrestricted funds 2025 £ 64,720 7,150 71,870 101,160 101,160 (29,290) (7,299) (36,589) 582,532 (36,589) 545,943 |
Total funds 2025 £ 64,720 7,150 71,870 101,160 101,160 (29,290) (7,299) (36,589) 582,532 (36,589) 545,943 |
Total funds 2024 £ 67,278 8,390 |
|---|---|---|---|
| 75,668 | |||
| 68,101 | |||
| 68,101 | |||
| 7,567 18,122 |
|||
| 25,689 | |||
| 556,843 25,689 |
|||
| 582,532 |
The Statement of financial activities includes all gains and losses recognised in the year.
The notes on pages 8 to 16 form part of these financial statements.
Page 6
The Betty Shelvey Trust
Balance sheet as at 31 December 2025
| Note Fixed assets Investments 8 Current assets Debtors 9 Cash at bank and in hand Current liabilities Creditors: amounts falling due within one year 10 Net current assets Total net assets Charity funds Unrestricted funds 11 Total funds |
1,458 181,026 182,484 (3,623) |
2025 £ 367,082 178,861 545,943 545,943 545,943 |
1,664 214,264 215,928 (7,777) |
2024 £ 374,381 208,151 |
|---|---|---|---|---|
| 582,532 | ||||
| 582,532 | ||||
| 582,532 |
The financial statements were approved and authorised for issue by the Trustees and signed on their behalf by:
| M Griffiths | N Bowles |
|---|---|
| Trustee | Trustee |
| Date: |
The notes on pages 8 to 16 form part of these financial statements.
Page 7
The Betty Shelvey Trust
Notes to the financial statements for the year ended 31 December 2025
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 2025
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.
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 2025
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.
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.
3. Income from charitable activities
| Residents Contribution Total 2024 |
Unrestricted funds 2025 £ 64,720 67,278 |
Total funds 2025 £ 64,720 67,278 |
Total funds 2024 £ 67,278 |
|---|---|---|---|
Page 10
The Betty Shelvey Trust
Notes to the financial statements for the year ended 31 December 2025
4. Investment income
| Investment income Total 2024 |
Unrestricted funds 2025 £ 7,150 8,390 |
Total funds 2025 £ 7,150 8,390 |
Total funds 2024 £ 8,390 |
|---|---|---|---|
5. Analysis of expenditure by activities
| Charitable activities Total 2024 |
Activities undertaken directly 2025 £ 99,833 66,682 |
Support costs 2025 £ 1,327 1,419 |
Total funds 2025 £ 101,160 68,101 |
Total funds 2024 £ 68,101 |
|---|---|---|---|---|
Analysis of direct costs
| Staff costs Telephone Electricity Water & sewage charges SDC Lifeline Insurance of property Garden expenses Repairs & improvements Almshouses subscription Advertising Printing & stationery Sundry expenses Computer costs Total 2024 |
Charitable activities 2025 £ 6,434 2,373 17,503 3,776 1,943 2,404 2,978 61,850 353 - 50 - 169 99,833 66,682 |
Total funds 2025 £ 6,434 2,373 17,503 3,776 1,943 2,404 2,978 61,850 353 - 50 - 169 99,833 66,682 |
Total funds 2024 £ 6,292 2,286 16,785 4,595 1,966 2,629 2,880 27,507 350 560 45 198 589 |
|---|---|---|---|
| 66,682 | |||
Page 11
The Betty Shelvey Trust
Notes to the financial statements for the year ended 31 December 2025
5. Analysis of expenditure by activities (continued)
Analysis of direct costs (continued)
Analysis of support costs
| Independent examiner's fees Total 2024 |
Charitable activities 2025 £ 1,327 1,419 |
Total funds 2025 £ 1,327 1,419 |
Total funds 2024 £ 1,419 |
|---|---|---|---|
6. Trustees' remuneration and expenses
During the year, no Trustees received any remuneration or other benefits (2024 - £NIL).
During the year ended 31 December 2025, no Trustee expenses have been incurred (2024 - £NIL).
7. Staff costs
| Wages and salaries | 2025 £ 6,434 6,434 |
2024 £ 6,292 |
|---|---|---|
| 6,292 |
The average number of persons employed by the Charity during the year was as follows:
| 2025 | 2024 |
|---|---|
| No. | No. |
| 1 | 1 |
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 (2024 - £Nil).
Page 12
The Betty Shelvey Trust
Notes to the financial statements for the year ended 31 December 2025
| 8. Fixed asset investments Cost or valuation At 1 January 2025 Revaluations At 31 December 2025 Net book value At 31 December 2025 At 31 December 2024 Investments at market value comprise: Listed investments All the fixed asset investments are held in the UK. Material investments COIF Charities Investment Fund Accumulation Units - GRF COIF Charities Investment Fund Accumulation Units - ERF 9. Debtors Due within one year Prepayments and accrued income |
2025 £ 367,082 |
Listed investments £ 374,381 (7,299) 367,082 367,082 374,381 2024 £ 374,381 2024 £ 91,562 282,819 374,381 2024 £ 1,664 |
Listed investments £ 374,381 (7,299) 367,082 367,082 374,381 2024 £ 374,381 2024 £ 91,562 282,819 374,381 2024 £ 1,664 |
|---|---|---|---|
| 2025 £ 89,777 277,305 |
2024 £ 91,562 282,819 |
||
| 367,082 | 374,381 | ||
| 2025 £ 1,458 |
2024 £ 1,664 |
Page 13
The Betty Shelvey Trust
Notes to the financial statements for the year ended 31 December 2025
10. Creditors: Amounts falling due within one year
| 2025 | 2024 | |
|---|---|---|
| £ | £ | |
| Creditors and Accruals | 3,623 | 7,777 |
11. Statement of funds
Statement of funds - current year
| Unrestricted funds Designated funds Cyclical Maintenance Fund General Reserves Fund Extraordinary Repair Fund General funds General Funds Total Unrestricted funds |
Balance at 1 January 2025 £ 164,079 91,562 282,819 538,460 44,072 582,532 |
Income £ - - - - 71,870 71,870 |
Expenditure £ (18,435) - - (18,435) (82,725) (101,160) |
Gains/ (Losses) £ - (1,785) (5,514) (7,299) - (7,299) |
Balance at 31 December 2025 £ 145,644 89,777 277,305 |
|---|---|---|---|---|---|
| 512,726 | |||||
| 33,217 545,943 |
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 14
The Betty Shelvey Trust
Notes to the financial statements for the year ended 31 December 2025
11. Statement of funds (continued)
Statement of funds - prior year
| Unrestricted funds Designated funds Cyclical Maintenance Fund General Reserves Fund Extraordinary Repair Fund General funds General Funds Total Unrestricted funds |
Balance at 1 January 2024 £ 164,079 87,130 269,129 520,338 36,505 556,843 |
Income £ - - - - 75,668 75,668 |
Expenditure £ - - - - (68,101) (68,101) |
Gains/ (Losses) £ - 4,432 13,690 18,122 - 18,122 |
Balance at 31 December 2024 £ 164,079 91,562 282,819 |
|---|---|---|---|---|---|
| 538,460 | |||||
| 44,072 | |||||
| 582,532 |
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The Betty Shelvey Trust
Notes to the financial statements
for the year ended 31 December 2025
12. Analysis of net assets between funds
Analysis of net assets between funds - current year
| Fixed asset investments Current assets Creditors due within one year Total |
Unrestricted funds 2025 £ 367,082 182,484 (3,623) 545,943 |
Total funds 2025 £ 367,082 182,484 (3,623) |
|---|---|---|
| 545,943 |
Analysis of net assets between funds - prior year
| Fixed asset investments Current assets Creditors due within one year Total |
Unrestricted funds 2024 £ 374,381 215,928 (7,777) 582,532 |
Total funds 2024 £ 374,381 215,928 (7,777) |
|---|---|---|
| 582,532 |
13. Related party transactions
The Charity has not entered into any transactions with related parties during the financial year (2024 - £Nil) and at the Balance Sheet date there are no amounts outstanding with them (2024 - £Nil).
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