Re8iStered Charity number 1047967 The Forertets Homes Trust Flnanclalstatements 315t L>ffember2023 Content5'. Pages Tru5tee5' report Accountants Report Statement of financlal activitles Balance sheet Notes to the finarsclal statements 7-13 The Foresters Homes Trust Poge 2 Y￿Stee$, Report In accordance with the requirements of Section 45 of the Charities Act 1993, the Trustees present this annual report and financial 5tstements of the charity for the year to 31st December 2023. The Foresters Homes Trust was registered as a charity in 1997- registration No. 1047967. The purpose of the charity is to provlde sheltered accommodation for members of the Ancient Order of Foresters. The trustees/committee members during the year under revlew were as follows.. J.Poolev Mr A.J. Pooley Mr J.Solli5 Mr A.J. Pooley Mrs J.Pooley Mr J.E.T Sprlngham Mrs B.M. Watson President Chalrman Vlce Chairman Resigned Trustee Trustee Trustee Trustee Trustee Mrs Mina Chana Clerk The Trustees meet once a month. The principal officers of the charity are: Clerk to the Trustees Mrs Mina Chana Reglstered Office Tower Road Bexleyheath Kent DA7 4JQ Bankers Barclays Bank plc Bexleyheath Buslness Centre PO Box 140 Bexleyheath Kent DA6 7DD Accountants R K Lawrence ènd Co 94 Brook Street Erlth Kent DA8 IJF The Forester5 Homes Trust rntstees, Report Preporotlon olfinanclalstatefftents Charty law requires the Trustees to prepare financial statements for each flnanclal year which glve a true and falr vlew of the state of affairs of the Charity and of the financial activltles of the Charity for that period. In preparlng those finantial statements, the Trustees are required to: selert suitable accounting policies and then apply them conslstentlv. make judgements and estimates that are reasonable and prudent,. stste whether the policies adopted are in accordance with SORP2 and wlth applitable accounting standard5, 5ublect to any materlal departures dlsclosed and explalned in the financial statements: prepare the account5 on the going concern basis unless It Is inappropriate to presume that the Charlty will ¢ontlnue In business The Trustees are responslble for keepin8 proper accounting records which distlose with reasonable accuracy at any time the flnancial posltSon of the Charity and to enable them to ensure that the financial statements comply with the Charlties Act 1993. They are also responslble for safeguardlng thÈ assets of the Charity and hence for tsking reasonable steps for the preventlon and detection ol fraud and other Irregularitles. Si8ned on behalf of the Trustee5 Accountants Report to the Tntstees OA The Foresters Homes Trust We have prepared the financial statements on pages 5 to 13 which have been prepared under the accounting policies set out on pages 7 and 8. Respectfve re5ponslbllhle$ of dlrertoTh and audltors As described on pa8e 3, the trustees are responsible for the preparation of the financial Statements. As accountants it is our responsibility to form an independent opinion, on those fin3ncial statements and to report our opinion to you. We have been appointed as accountants under section 43 of the Charities Act 1993 and report in accordance with the regulation5 made under sertion 44 of that Act. Basls of opinion We conducted our preparation of accounts in accordance with Actountin8 Standards. This includes examination, on a test basi5, of evidente relevant to the amounts and dlsc105ures in the financi31 statements. It also include5 an assessment of the significant estimates and judgement5 made by the trustees ifb the preparation of the financlal statements, and of whether the accountln8 policies are appropriatè to the Charlty's circumstsn¢es, consistently applied and adequately dlsclosed. We planned and performed our accounts so as to obtain all the information and explanations which we considered necessary in order to provide us wlth sufficient evldence to glve reasonable 355urance that the flnancial statements are free from materlal m155tatement. Oplnlon In our opinion the financial statements give a true and falr view of the Charity's state of affairs as at 31st Decèmber 2023 and of Its incoming resources and appllcatlon of resources in the year then ended and have been properly prepared in accordance with the Charities Act 1993. R.K. LaW￿nce & Co. 94 Brook Street Erith Kent DA8 IJF Date LU A ff,) IQLL The Foresters Homes Trust StotemertoAFinonclalArtivltles For the year ended315tDe¢ember 2023 Unrestricted Restrirted fvnds funds 2023 Totsl 2022 Total Notes Income and expendlttsre Incomln8 resources Residents, maintenance contrIbu￿on5 Interest and dividen( 13 Subscrlptlons and donatlons Legacy Laundry Xmas Draw Garden partylcream tea Sundry Income 88,900 88,900 47.746 9,450 80,393 20,646 6.272 47,746 9.450 4,240 4,240 3,168 1.415 1.720 1,720 285 Total in¢omln8 r•sour¢es 63,156 88,91XI 152,056 112,179 Resour¢¢s expended Oirett charltable exp Management and administration of the Homes 1,705 123,174 124.879 92,2QO 103 Total resourtos exp¢ 10,976 123,174 134,150 95,303 Net In￿rnIng resourrns for the year 52,180 -34,274 17.906 16,876 Balances brought forward at Istjanuary 2023 520,096 158,447 678,543 661.667 B•lan¢•s carrled forward 31st December 2023 572,276 124,173 696,449 678,543 The Foresters Homes frust Balance Sheet As at 315t De¢ember2023 2023 2022 Flxed assets 630 5,621 rrent assets Investment accounts Debtors and prepayments Cash at bank and in hand 508.363 2,730 503.363 2,730 167 965 Total incomin8 resources 696.955 674,058 Credltors: amounts falllng due withln one 1,136 1,136 Net Current assets 69S.819 672,922 Net assets 696,449 678.543 Represented bv: Fund5 Unrestricted Restrlcted 12 li 572,276 124,173 520.096 158,447 696,449 678,543 and slgned on sts behalf Truste The Foresters Home5 Trust Poge 7 Notes to the￿I￿n￿oIstateMents For the yeorended 315t Derember2023 l Accounting policles Basls of accountin8 The financial statèrnènts have been prepared under the historical cost convention nd In accordancÈ wlth applicable accountlng standards. Flxed assets 111 Building extension The buildin8 extension is stated at Cost less housing association grant received lincluding interest as a result of late paymentl and buildlng and endowment fund. The cost5 include= - payments for work done services provided mort8age Interest payable to 31st December 1985 lill Land and buildings In the absence of a valuatlon of the proportlon of land retained, the sale proceeds ot the part disposal of land were deducted from the book value of the whole of the land and buildings prlor to the 531e in 1977. liiil Depreciation DeprecSation is provided on bulldings in order to wrlte off over thelr expected useful life of 50 years on a straiBht line basis. Depreciation on the Lift is IO% over 10 years straight line. No depreciation is provided on furniture and equipment as the expenditure is written off in the year of purchase. Depreciation on the boilef5 15 10% over 10 years straight line. livl Housin8 Association grant The buildlng eKtenslon has been ftnanced partly by a housing association grant. The cost of the building extension has been reduced by the amount of the grant received. Iv) Cyclical repairs and maintenance No provision is made for future repairs and maintenance as there 15 a regular programme of repalrs and maintenance in place by the committee of management, and all costs Incurred are char8ed to the Income and expendlture account The Foresters Home5 Tmst Notes to thefinancialsrotsments Forthe year ended315t December2023 l Accounting Pollcles- Icontlnuedl Apportionment of management expenses Dlrect employee. administration and operating costs have been apportioned to the building maintenance and benefit fund income and expenditure account, on the basis of costs of staff to the extent that they are dlrectly engaged in ezch of the operations dealt withln the financial statements. Copltallsation oAlnterert Interest on the mortgage loan financing a development is capitalised up to the date of practical completion of the scheme. Value Added Tax The Foresters Home5 Trust Is not registered for Value Added fax. In these financial statements, where applicable, expenditure Is shown inclusbve of Value Added Tax. 2 Dlrect ¢haTltabl8 ￿pendItUre Unrestrlcted Restrfcted funds funds Totsl 2023 Tot41 2022 Notes Wages and salarie5 & Pension Cont Emergency linkllne Light, heat and power Water rateslcouncll tax Telephone Laundry Insurance Buildln8 maintenante Household expenses Heatin8 maintenance Security & Fire Alarm Maint Garden Windows Oecoration Depreciation Garden Patlo 25.908 3,867 23.756 5,876 25,908 3,867 23,756 5,876 1,705 22.153 1.800 12,506 7,057 1.068 1,705 6.256 35.044 85 9,720 677 1,560 6.256 35,044 85 9,720 677 1,560 5.870 16,799 796 1.717 2.203 3,319 11,291 4,991 4,991 4.991 5434 434 630 1.705 123,174 124,879 92.200 The Forester5 Homes Tn￿t Page 9 staten￿nto￿ FlnancialArtivities For the yeur ended31st December2023 3 Management and administratlon ofthe Homes 2023 Total 2022 Total Unrestrlrted Restrirted funds funds Quinquennial Postage, stationery and advertising Audit and accountancv Donations Christmas party Staff 8ratuities Outing Subscriptions Sundries 557 1,310 557 1310 353 1,308 8( 91 7404 551 9.271 9.271 3,103 4 Total resources expended Z023 Total 2022 Totsl Staff costs Depreclatlon Other Direct ¢haritable expendlture Management and administration of the homes 25,908 4.991 93,980 124,879 92,200 9,271 9,271 3,103 25,908 4,991 103,251 134,150 95,303 The Foresters Ilomes Trust Page io Notes to the Finan(ia15tatements For the yeur ended31st Derember2023 2023 5 Flxed Assets Freehold Buildlng mprovement land and extension bulldlngs Total Cost I valuatlon At 1st January 2023 and 31st December 2023 Additions 630 50,713 49.910 101.253 630 50,713 49,910 IOJ,253 DeprKlatlon At 1st January 2023 Charge for the year 50,713 44.919 4,991 95,632 4,991 At31st December 2023 50,713 49,910 100,623 Wrltten down values At 31st December 2023 630 630 At 31st December 2022 630 4,991 5,621 The cost / valuation of freehold land and buildings comprises: 2023 2022 Valuation Iprlor to 1958) Costs to 1st January 1977 31.000 10.630 31,0 10,630 41.630 41.000 41,630 41,000 Le55: Disposal proceeds IDecember 19771 630 630 The Foresters Homes Trust Paqeii Notes to the Finundalstutements For the year ended31stDecemberZ023 The cost of the building extension comprises: 2023 2022 Payments for work done, servlces provided and mortgage Interest payable to 31st December 1995 Less.. Housln8 Association grant (including interest for late payment) Buildin8 and Endowment Fund 391,568 391,568 -273,032 -67,823 -273,032 7.823 50.713 50.713 6 Inveslments Gllt Investments Charity Common Investment funds 508 363 503 363 503 363 (Market Valuatlon I CCLA Flxei 3924.34 units CCLA ProF 56938.36 unlts M&G Charifund 605.200 IAeeumulation Units) Charifund 26S8.596 Ilncome Unitsl Charibond 99010.927 Ilncome Units) Charlty Mi 196680.267 Ilncome Unltsl NAACIF O Ilncome Units) Schroders Fixed Intel O Ilncome Units) Equlty 27878 Ilncome Units 4,800 59,444 4,560 63,401 181.S40 38,151 110.734 176,658 170.147 39.068 107,239 173,688 22,097 118 147 698 348 129 773 701100 7 Credltors: Amounts fillln8 due wlthln one year Accruals 1.136 1,136 8 Taxatl¢n The Foresters Homes Trust is an exempt charity and accordingly is not subject to taxatlon on any of its attivities. The Foresters Homes Trust Page 12 Statementof FinanclulArtlvities For the year ended31stDecember2023 9 Contlngent iiJbilttles As at 31st December 2023 and 2022 there were no known contingent liabilities. 10 Commltments Capital commltments 4 at 31st December 2023 and 2022 there were no capital expendrture commltments. Lease commltments- None 11 Re5tr1rted fund$ Balance Movements In resource Sncomlng Outgoing Balance 31,12.23 01.01.23 Building and malntenance beneflt fvnd 158,447 88,900 123,174 124,173 158,447 88,900 123,174 124.173 State￿nto1 FlnantlalArtlvltles For the yearended3tstDe¢ember2023 12 Anatysis of net assets between funds Tanelble flxed assets Net current Total Restrlrted funds: Bullding and malntenance benefit fund 630 123,543 124,173 630 123,543 124,173 Unrestrlcted funds 572.276 572.276 630 695,819 696,449 13 lficome Analysls 2022 NAACIF Fund Gilt Gilt M&G Charibond Charlfund Schroder Schroder CCLA Bank Interest 1573 4720 8174 3960 3717 2713 21094 6038 6111 79 5480 3940