THE FORESTERS HOMES TRUST BEXLEYHEATH, KENT Annual Report 2025
Statements of Accounts and Balance Sheet
For The Year Ending 31st December, 2024
Clerk: Mrs Mina Chana Foresters Homes, Tower Road, Bexleyheath, Kent. DA7 4JQ mina.chana@forestershomestrust.co.uk
Reg Charity No. 1047967
THE FORESTERS HOMES TRUST BEXLEYHEATH, KENT
Officers 2023-2024
Trustees / Committee:
Mr A Pooley Mr J Sollis Mrs J Pooley Mr JET Springham Mrs B Watson
Chairman Vice Chairman Trustee Trustee Trustee
Clerk: Mrs Mina Chana
Registered Office
Tower Road, Bexleyheath, Kent, DA7 4JQ
Bankers:
Barclays Bank Plc., Bexleyheath Business Centre, PO Box 140, Bexleyheath, Kent, DA6 7DD
Accountants:
R. K. Lawrence and Co.
94 Brook Street, Erith, Kent. DA8 1JF.
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THE FORESTERS HOMES TRUST
BEXLEYHEATH, KENT
25th April 2025
To Foresters and Subscribers,
Please note: The AGM is due to take place on the 10th May.
ALL FORESTERS ARE WELCOME
AGENDA
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Meeting declared open by the Chairman.
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Minutes of Annual Meeting, 11th May 2024
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Trustees’ Report.
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Accounts and Balance Sheet for the year ending 31st December, 2024.
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Election: Accountant
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Any other business
Notice
It is requested that notification of any question intended to be raised relative to the Accounts be sent to the Clerk by 5th May 2025 to afford an opportunity to prepare the necessary answers.
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Annual Report
Dear Members and Friends,
We are pleased to report that as at the 31st December 2024 all our flats remain occupied and we continue to have a waiting list.
Sadly, in April we lost Harry Froud, who is missed by all.
Our warden Louise and Asa continue to organise events for the residents’ regular visits to the local bowling alley, followed by a few drinks and food at the local pub, quiz nights, cheese and wine evenings and race nights have proved very successful with residents.
During the Summer a number of residents spent a week at the Yorkshire Foresters Convalescent Home in Bridlington, and then in October residents and friends in conjunction with the court “Wellington Hope” held a Coffee Morning raising £350. For MacMillian Cancer Support.
The residents enjoyed their Christmas Party this year, the warden and the clerk arranged the food and James arranged the entertainment, a good evening was had by all.
Following the Quinquennial report we had in 2023, we have undertaken extensive internal & external maintenance and this work is ongoing.
Court “Wellington Hope” No. 2215 holds its regular bi-monthly meetings at the Homes. If any Foresters would like to attend, please contact the secretary, Brenda Watson.
Public Benefit Statement: We provide Almshouses and associated amenities including amenities specially designed or adapted to meet the disabilities and requirements of the elderly, for the accommodation and benefit of elderly persons in necessitous circumstances, and in particular such persons “who are members of the widows/widowers of members of the Foresters Friendly society”.
Our Annual General Meeting this year is scheduled for 10th May 2025 at 2pm at the Foresters Homes. Light refreshments will be provided and you may have an opportunity to look around the Homes.
Clerk to the Trustees M Chana
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The Foresters Homes Trust
Trustees' Report
Preparation of financial statements
Charity 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 Charity and of the financial activities of the Charity for that period. In preparing those financial statements, the Trustees are required to:
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select suitable accounting policies and then apply them consistently;
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make judgements and estimates that are reasonable and prudent;
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state whether the policies adopted are in accordance with SORP2 and with applicable accounting standards, subject to any material departures disclosed and explained in the financial statements:
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prepare the accounts on the going concern basis unless it is inappropriate to presume that the Charity will continue in business
The Trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the Charity and to enable them to ensure that the financial statements comply with the Charities Act 1993. 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.
Signed on behalf of the Trustees
Mr A Pooley Chairman
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Accountants Report to the Trustees of 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.
Respective responsibilities of directors and auditors
As described on page 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 financial 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 regulations made under section 44 of that Act.
Basis of opinion
We conducted our preparation of accounts in accordance with Accounting Standards. This includes examination, on a test basis, of evidence relevant to the amounts and disclosures in the financial statements. It also includes an assessment of the significant estimates and judgements made by the trustees in the preparation of the financial statements, and of whether the accounting policies are appropriate to the Charity's circumstances, consistently applied and adequately disclosed.
We planned and performed our accounts so as to obtain all the information and explanations which we considered necessary in order to provide us with sufficient evidence to give reasonable assurance that the financial statements are free from material misstatement.
Opinion
In our opinion the financial statements give a true and fair view of the Charity's state of affairs as at 31st December 2024 and of its incoming resources and application of resources in the year then ended and have been properly prepared in accordance with the Charities Act 1993.
R.K. Lawrence & Co. 94 Brook Street Erith Kent DA8 1JF
Date 25th April 2024
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The Foresters Homes Trust
Page 5
Statement of Financial Activities
For the year ended 31st December 2024
| Unrestricted | Restricted | 2024 | 2023 | ||||
|---|---|---|---|---|---|---|---|
| funds | funds | Total | Total | ||||
| £ | £ | £ | £ | ||||
| Notes | |||||||
| Income and expenditure | |||||||
| Incoming resources | |||||||
| Residents' maintenance contributions | 89,761 | 89,761 | 88,900 | ||||
| Interest and dividends receivable | 13 | 29,309 | 29,309 | 47,746 | |||
| Subscriptions and donations | 11,455 | 11,455 | 9,450 | ||||
| Legacy | 0 | 0 | 0 | ||||
| Laundry | 4,470 | 4,470 | 4,240 | ||||
| Xmas Draw | 0 | 0 | 0 | ||||
| Garden party/cream tea | 0 | 0 | 0 | ||||
| Sundry income | 147 | 0 | 147 | 1,720 | |||
| ______ | ______ | ______ | ______ | ||||
| Total incoming resources | 45,381 | 89,761 | 135,142 | 152,056 | |||
| ______ | ______ | ______ | ______ | ||||
| ______ | ______ | ______ | ______ | ||||
| Resources expended | |||||||
| Direct charitable expenditure | 2 | 2,311 | 132,963 | 135,274 | 124,879 | ||
| Management and administration | |||||||
| of the Homes | 3 | 3,692 | 400 | 4,092 | 9,271 | ||
| Total resources expended | 4 | 6,003 | 133,363 | 139,366 | 134,150 | ||
| _____ | _____ | _____ | _____ | ||||
| _____ | _____ | _____ | _____ | ||||
| Net incoming resources for the year | 39,378 | -43,602 | -4,224 | 17,906 | |||
| Balances brought forward | |||||||
| at 1st January 2024 | 572,276 | 124,173 | 696,449 | 678,543 | |||
| ______ | ______ | ______ | _ | ||||
| Balances carried forward | |||||||
| 31st December 2024 | 611,654 | 80,571 | 692,225 | 696,449 | |||
| ______ | ______ | ______ | _ | ||||
| ______ | ______ | ______ | _ |
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The Foresters Homes Trust
Page 6
Balance Sheet
As at 31st December 2024
| As at 31st December 2024 | ||||
|---|---|---|---|---|
| 2024 | 2023 | |||
| £ | £ | |||
| Fixed assets | 5 | 630 | 630 | |
| _____ | _____ | |||
| Current assets | ||||
| Investment accounts | 6 | 508,363 | 508,363 | |
| Debtors and prepayments | 2,730 | 2,730 | ||
| Cash at bank and in hand | 181,638 | 185,862 | ||
| ~~ | ~~ | |||
| Total incoming resources | 692,731 | 696,955 | ||
| Creditors: amounts falling due within one year | 7 | 1,136 | 1,136 | |
| ______ | ______ | |||
| Net current assets | 691,595 | 695,819 | ||
| ______ | ______ | |||
| Net assets | 692,225 | 696,449 | ||
| ______ | ______ | |||
| ______ | ______ | |||
| Represented by: | ||||
| Funds | ||||
| Unrestricted | 12 | 611,654 | 572,276 | |
| Restricted | 11 | 80,571 | 124,173 | |
| ______ | ______ | |||
| 692,225 | 696,449 | |||
| ______ | ______ | |||
| ______ | ______ |
Approved by the Board of Trustees on 25th April 2024 and signed on its behalf pallets| ........................... Trustee
Mr A Pooley Chairman
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The Foresters Homes Trust
Page 7
Notes to the financial statements
For the year ended 31st December 2024
1 Accounting policies
Basis of accounting
The financial statements have been prepared under the historical cost convention and in accordance with applicable accounting standards. Fixed assets
(i) Building extension
The building extension is stated at cost less housing association grant received (including interest as a result of late payment) and building and endowment fund. The costs include:
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payments for work done
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services provided
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mortgage interest payable to 31st December 1985
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(ii) Land and buildings
In the absence of a valuation of the proportion of land retained, the sale proceeds of the part disposal of land were deducted from the book value of the whole of the land and buildings prior to the sale in 1977.
(iii) Depreciation
Depreciation is provided on buildings in order to write off over their expected useful life of 50 years on a straight line basis.
Depreciation on the Lift is 10% 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 boilers is 10% over 10 years straight line.
(iv) Housing Association grant
The building extension has been financed partly by a housing association grant. The cost of the building extension has been reduced by the amount of the grant received.
(v) Cyclical repairs and maintenance
No provision is made for future repairs and maintenance as there is a regular programme of repairs and maintenance in place by the committee of management, and all costs incurred are charged to the income and expenditure account.
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Reg Charity No. 1047967 Page 8
The Foresters Homes Trust
Notes to the financial statements
For the year ended 31st December 2024
1 Accounting Policies - (continued)
Apportionment of management expenses
Direct 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 directly engaged in each of the operations dealt within the financial statements.
Capitalisation of interest
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 Homes Trust is not registered for Value Added Tax. In these financial statements, where applicable, expenditure is shown inclusive of Value Added Tax.
2 Direct charitable expenditure
| 2 Direct charitable expenditure | ||||||
|---|---|---|---|---|---|---|
| Unrestricted | Restricted | Total | Total | |||
| funds | funds | 2024 | 2023 | |||
| £ | £ | £ | £ | |||
| Notes | ||||||
| Wages and salaries & Pension Cont | 0 | 36,850 | 36,850 | 25,908 | ||
| Emergency linkline - capital response | 0 | 0 | 3,867 | |||
| Light, heat and power | 21,359 | 21,359 | 23,756 | |||
| Water rates/council tax | 8,582 | 8,582 | 5,876 | |||
| Telephone | 2,311 | 2,311 | 1,705 | |||
| Laundry | 0 | 0 | 0 | |||
| Insurance | 7,091 | 7,091 | 6,256 | |||
| Building maintenance | 43,782 | 43,782 | 35,044 | |||
| Household expenses | 506 | 506 | 85 | |||
| Heating maintenance | 846 | 846 | 9,720 | |||
| Security & Fire Alarm Maint | 2,717 | 2,717 | 677 | |||
| Garden | 5,975 | 5,975 | 1,560 | |||
| Washing Machine | 4,554 | 4,554 | 0 | |||
| Depreciation | 0 | 0 | 4,991 | |||
| Lift | ____ | 701 | 701 | 5,434 | ||
| 2,311 | 132,963 | 135,274 | 124,879 | |||
| ____ | _____ | _____ | _____ | |||
| ____ | _____ | _____ | _____ |
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The Foresters Homes Trust
Page 9
Statement of Financial Activities
For the year ended 31st December 2024
3 Management and administration of the Homes
| 2024 | 2023 | ||||||
|---|---|---|---|---|---|---|---|
| Unrestricted | Restricted | Total | Total | ||||
| funds | funds | ||||||
| £ | £ | £ | £ | ||||
| Quinquennial | 0 | 0 | 0 | ||||
| Postage, stationery and advertising | 380 | 380 | 557 | ||||
| Audit and accountancy | 1,320 | 1320 | 1,310 | ||||
| Donations | 30 | 30 | 0 | ||||
| Christmas party | 400 | 400 | 0 | ||||
| Staff gratuities | 0 | 0 | 0 | ||||
| Outing | 0 | 0 | 0 | ||||
| Subscriptions | 687 | 687 | 0 | ||||
| Sundries | 1,275 | 1275 | 7,404 | ||||
| 3,692 | 400 | 4,092 | 9,271 | ||||
| ____ | ___ | ____ | ____ | ||||
| ____ | ___ | ____ | ____ | ||||
| 4 Total resources expended | |||||||
| 2024 | 2023 | ||||||
| Staff | Depreciation | Other | Total | Total | |||
| costs | costs | ||||||
| £ | £ | £ | £ | £ | |||
| Direct charitable | |||||||
| expenditure | 36,850 | 0 | 98,424 | 135,274 | 124,879 | ||
| Management and | |||||||
| administration of | |||||||
| the homes | -- | -- | 4,092 | 4,092 | 9,271 | ||
| _____ | _____ | _____ | _____ | _____ | |||
| 36,850 | 0 | 102,516 | 139,366 | 134,150 | |||
| _____ | _____ | _____ | _____ | _____ | |||
| _____ | _____ | _____ | _____ | _____ |
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The Foresters Homes Trust
Page 10
Notes to the Financial Statements
For the year ended 31st December 2024
| 2024 | |||||
|---|---|---|---|---|---|
| 5 Fixed Assets | |||||
| Freehold | Building | Improvements | Total | ||
| land and | extension | ||||
| buildings | |||||
| £ | £ | £ | |||
| Cost / valuation | |||||
| At 1st January 2024 and 31st December 2024 | 630 | 50,713 | 49,910 | 101,253 | |
| Additions | |||||
| ___ | _____ | _____ | _____ | ||
| 630 | 50,713 | 49,910 | 101,253 | ||
| Depreciation | |||||
| At 1st January 2024 | 50,713 | 49,910 | 100,623 | ||
| Charge for the year | 0 | 0 | 0 | ||
| _____ | ______ | _____ | |||
| At 31st December 2023 | 50,713 | 49,910 | 100,623 | ||
| _____ | ______ | _____ | |||
| Written down values | |||||
| At 31st December 2024 | 630 | 0 | 0 | 630 | |
| ___ | _____ | _____ | _____ | ||
| ___ | _____ | _____ | _____ | ||
| At 31st December 2023 | 630 | 0 | 4,991 | 5,621 | |
| ___ | _____ | _____ | _____ | ||
| ___ | _____ | _____ | _____ | ||
| The cost / valuation of freehold land and buildings | comprises: | ||||
| 2024 | 2023 | ||||
| £ | £ | ||||
| Valuation (prior to 1958) | 31,000 | 31,000 | |||
| Costs to 1st January 1977 | 10,630 | 10,630 | |||
| _____ | _____ | ||||
| 41,630 | 41,630 | ||||
| Less: Disposal proceeds (December 1977) | 41,000 | 41,000 | |||
| _____ | _____ | ||||
| 630 | 630 | ||||
| _____ | _____ | ||||
| _____ | _____ |
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The Foresters Homes Trust
Page 11
Notes to the Financial Statements
For the year ended 31st December 2024
| The cost of the building extension comprises: | |||
|---|---|---|---|
| 2024 | 2023 | ||
| £ | £ | ||
| Payments for work done, services provided and | |||
| mortgage interest payable to 31st December 1995 | 391,568 | 391,568 | |
| Less: | |||
| Housing Association grant | |||
| (including interest for late payment) | -273,032 | -273,032 | |
| Building and Endowment Fund | -67,823 | -67,823 | |
| ______ | ______ | ||
| 50,713 | 50,713 | ||
| ______ | ______ | ||
| 6 Investments | |||
| Gilt Investments | 0 | 0 | |
| Charity Common investment funds | 508,363 | 508,363 | |
| 508,363 | 508,363 | ||
| (Market Valuation ) | |||
| CCLA Fixed In3924.34 units | 4,947 | 4,800 | |
| CCLA Propert56938.36 units | 58,806 | 59,444 | |
| M& G | |||
| Charifund 605.200 (Accumulation Units) |
197,895 | 181,540 | |
| Charifund 2658.596 (Income Units) |
39,145 | 38,151 | |
| Charibond 99010.927 (Income Units) |
106,833 | 110,734 | |
| Charity Multi196680.267 (Income Units) | 182,578 | 176,658 | |
| NAACIF 0 (Income Units) |
0 | 0 | |
| Schroders | |||
| Fixed Interes 0 (Income Units) | 0 | 0 | |
| Equity 27878 (Income Units |
139,753 | 129,773 | |
| 729,957 | 701,100 | ||
| 7 Creditors: Amounts falling due within one year | |||
| Accruals | 1,136 | 1,136 | |
| ____ | ____ | ||
| 8 Taxation |
The Foresters Homes Trust is an exempt charity and accordingly is not subject to taxation on any of its activities.
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The Foresters Homes Trust
Page 12
Statement of Financial Activities
For the year ended 31st December 2024
9 Contingent Liabilities
As at 31st December 2024 and 2023 there were no known contingent liabilities.
10 Commitments
Capital commitments
As at 31st December 2024 and 2023 there were no capital expenditure commitments.
Lease commitments - None
11 Restricted funds
| Balance 01.01.24 £ Building and maintenance benefit fund 124,173 __ 124,173 ____ |
Movements in resource Balance Incoming Outgoing 31.12.24 £ £ £ 89,761 133,363 80,571 _ 89,761 133,363 80,571 __ _ ____ |
|---|---|
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The Foresters Homes Trust
Page 13
Statement of Financial Activities
For the year ended 31st December 2024
| 12 Analysis of net assets between funds | ||||
|---|---|---|---|---|
| Tangible | Net | Total | ||
| fixed | current | |||
| assets | assets | |||
| £ | £ | £ | ||
| Restricted funds: | ||||
| Building and maintenance benefit fund | 630 | 79,941 | 80,571 | |
| _____ | ______ | ______ | ||
| 630 | 79,941 | 80,571 | ||
| Unrestricted funds | 0 | 611,654 | 611,654 | |
| _____ | ______ | ______ | ||
| 630 | 691,595 | 692,225 | ||
| _____ | _ | ______ | ||
| 13 Income Analysis | ||||
| 2024 | 2023 | |||
| £ | £ | |||
| NAACIF Fund | 0 | 1573 | ||
| Gilt | 0 | 0 | ||
| M&G | 18690 | 8174 | ||
| Charibond | 0 | 3960 | ||
| Charifund | 0 | 0 | ||
| Schroder | 0 | 21094 | ||
| Schroder | 5910 | 6038 | ||
| CCLA | 3358 | 6111 | ||
| Bank Interest | 1351 | 796 | ||
| 29,309 | 47,746 |
2024 Donations
Our sincere thanks to all who donated this year and for your continued support.
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THE FORESTERS HOMES TRUST
The Foresters Homes is a sheltered Housing Complex of 21 self-contained flats - 7 Double and 14 single.
They are set in their own landscaped gardens, secluded but very near Bexleyheath Shopping Precinct and shops. These homes are run by Foresters.
If any of your members are interested in being considered for one of the flats, and they are fully retired and capable of caring for themselves,
Please apply to:
Mrs. Mina Chana - Clerk to the Trustees Foresters Homes, Tower Road, Bexleyheath, Kent. DA7 4JQ
mina.chana@forestershomestrust.co.uk