Company registration number: 03110601
Charity registration number.. 1049742
LAMBOURN VALLEY HOUSING TRUST
TRUSTEES, REPORT AND
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2025

Lambourn Valley Housing Trust
Contents
Page
Reference and Admlnistrative Details
Trustees, Report
Independent Auditor's Report
Statement of Financial Activities (including Income and Expenditure Account)
Balance Sheet
10
Notes to the Financial Statements
11-18

Lambourn Valley Housing Trust
Reference and Admlnistrative Details
For The Year Ended 31 January 2025
Trustees
Mrs C A Dunlop
Mr M J Fetherston Godley
Mr W S Harford (appointed 2710812024)
Mr M J Kershaw
Mr S D Marsh
Captain R M Smyly
Ms L E Snowden
Mr O M Sherwood (reslgned 27/0812024)
Company Secretary
Captain R M Smyly
Char5ty Number
1049742
Company Number
03110601
Reglstered Office
2 The Old Estate Yard
East Hendred
Wantage
Oxfordshire
OX12 8JY
Audltors
UHY Ross Brooke
Suite I, Windrush Court
Abingdon Business Park
Abingdon
Oxfordshire
Page I

Lambourn Valley Housing Trust
Company No. 03110601
Trustees. Report For The Year Ended 31 January 2025
The trustees present their report and the financial statements for the year ended 31 January 2025.
Objectives and Activities
Aims and Objectives
The objective and aims of the trust is to aid the welfare of the persons employed or formerly
employed or active in the horse race industry (together with their wives, widows and dependent
children). This is achieved in particular by the provision of housing and also by supporting
associated needy causes.
Publlc Beneflt
The trustees have paid due regard to guidance issued by the Charity Commission in deciding what
activities the charitable company should undertake.
Achlevements and Performance
Maln Achlevements
In 2023 the trust purchased an additional 7 properties in furtherance of the charltable objectives.
The trust continues to save In order to buy more properties to Increase the number of properties
available.
Plans lor future periods
The charlty will continue to help needy causes associated wlth the stable staff although nothing
specific is planned.
Flnanclal Revlew
Flnanclal Posltlon
During the year the charity received donations which contributed to the surplus for the year of
£56,879 (2024 £563,282).
Reserves Pollcy
It Is the policy of the charitable company that accumulated unrestricted funds are held to invest in
further accommodation for the purposes of the charity's mission. Reserves as at the 31 January
2025 totalled £2,873,434 (2024 £2,816,555). Funds are held and accumulated by the charity
whilst the trustees search for appropriate properties to acquire.
Major rlsks
The trustees have assessed the major risks to which the charitable company is exposed, and are
satisfied that systems are in place to mitigate exposure to the major risks. This includes ensuring
the properties are properly maintained and insured.
Page 2

Lambourn Valley Housing Trust
Trustees, Report (continued)
For The Year Ended 31 January 2025
Other Information
Structurei governance and management
The charitable company is a company limited by guarantee. Its governing document is its
memorandum and articles of associatlon.
The trustees, who are also the directors for the purpose of company law, and who served
duringthe year and up to the date of slgnature of the financial statements were:
Mrs C A Dunlop
Mr M J Fetherston Godley
Mr W S Harford (appointed 27/0812024)
Mr M J Kershaw
Mr S D Marsh
Captain R M Smyly
Ms L E Snowden
Mr O M Sherwood (resigned 27/0812024)
Statement of Trustees, Responslbilities
The trustees (who are also the directors of Lambourn Valley Housing Trust for the purposes of
company law) are responsible for preparlng the Trustees, Report and the financial statements In
accordance with applicable law and United Kingdom Accounting Standards (United Kingdom
Generally Accepted Accounting Practice).
Company law requlres the trustees to prepare flnanclal statements for each flnanclal year. Under
company law the trustees must not approve the financial statement unless they are satisfied that
they give a true and fair view of the state of affairs of the charitable company and of the incoming
resources and application of resources, including the Income and expenditure, of the charitable
company for that period. In preparing the financial statements the trustees are required to:
select suitable accounting pollcies and then apply them conslstentlyi
observe the methods and principles in the Charity SORP.
make judgments and accounting estimates that are reasonable and prudent. and
prepare the financial statements on the going concern basis unless It Is inap&>roprlate to
presume that the company will continue in business.
The trustees are responsible for keeping adequate accounting records which disclose with reasonable
accuracy at anytime the financial position of the charitable company and to enable them to ensure
that the accounts comply with the Companies Act 2006. They are also responsible for safeguarding
the assets of the company and hence for taking reasonable steps for the prevention and detectlon of
fraud and other irregularities.
The trustees are responsible for the maintenance and integrity of the corporate and financial
information included on the charitable company's website. Legislation in the United Kingdom
governing the preparation and dissemination of financial statements may differ from legislation in
other jurisdlctions.
Page 3

Lambourn Valley Housing Trust
Trustees. Report (continued)
For The Year Ended 313anuary 2025
Statement of Dlsclosure of Inforniation to Auditors
Each of the persons who are trustees at the time when this trustees, report is approved has
confinned that:
so far as the trustee Is aware, the￿ is no relevant audlt Information of which the charltable
company's auditor5 a￿ Ljnaware; and
they have taken all the steps that they ought to have taken as trustees in order to make
themselves aware of any relevant audlt Infomiation and to establish that the charitable
company's auditors are awa￿ of that information.
Independ•nt Audltors
The auditors, UHY Ross Brooke, have indicated thelr willingness to contlnue in office and a resolution
concerning their re-appointment will be proposed at the Annual General Meeting.
Small Company Rul•s
Thls report has been prepared in accordance wlth the speclal provlsions relatlng to companies
subject to the small companies regime within Part 15 of the Companies Act 2006.
The tNstees' report was approved by the board of trustees and signed on its behalf by:
Captaln R M Smyly
Trustee
Date
l¥liolLois
Page 4

Independent Auditor's Report
to the Members of
Lambourn Valley Housing Trust
Opinion
We have audited the financial statements of Lambourn Valley Housing Trust (the "charitable
cornpany ) for the year ended 31 January 2025 which comprise the Statement of Financial Activities
(including Income and Expenditure Account), Balance Sheet and the related notes, including a
summary of significant accounting policies. The financial reporting framework that has been applied
in their preparation is applicable law and United Kingdom Accounting Standards (United Kingdom
Generally Accepted Accounting Practice), including FRS 102 "The Financial Reporting Standard
applicable in the UK and Republic of Ireland"
In our opinion the financial statements:
give a true and fair view of the state of the charitable company's affairs as at 31 January 2025
and of its incoming resources and application of resources, for the year then ended;
have been properly prepared in accordance with United Kingdom Generally Accepted
Accounting Practice; and
have been prepared in accordance with the requlrements of the Companies Art 2006.
Basis for Opinlon
We conducted our audit In accordance with International Standards on Auditing (UK) (ISAS (UK))
and applicable law. Our responsibilities under those standards are further described in the Auditor's
responsibilities for the audit of the financial statements section of our report. We are independent of
the charitable company in accordance with the ethical requirements that are relevant to our audit of
the financial statements in the UK, including the FRC'S Ethical Standard, and we have fulfilled our
other ethical responsibilities in accordance with these requirements. We believe that the audit
evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.
Concluslons Relatlng to Golng Concern
In auditing the financial statements, we have concluded that the trustees, use of the going concern
basis of accountlng in the preparation of the financial statements is approprlate.
Based on the work we have performed, we have not identified any material uncertainties relating to
events or conditions that, Individually or collectively, may cast significant doubt on the charitable
company's ability to continue as a going concern for a perlod of at least 12 months from when the
financial statements are authorised for issue.
Our responsibilities and the responsibilities of the trustees with respect to going concern are
described in the relevant sections of this report.
Other Informatlon
The other information comprises the information included in the annual report, other than the
financial statements and our auditor's report thereon. The trustees are responsible for the other
information contained within the annual report. Our opinion on the financial statements doe5 not
cover the other information and, except to the extent otherwise explicitly stated in our report, we do
not express any form of assurance conclusion thereon. In connection with our audit of the financial
statements, our responsibility is to read the other information and, in doing so, consider whether the
other information is materially inconsistent with the financial statements or our knowledge obtained
in the audit or otherwise appears to be materially misstated. If we identify such material
Inconsistencies or apparent material misstatements, we are required to determine whether thls
gives rise to a material misstatement in the financial statements themselves. If, based on the work
we have performed, we conclude that there is a material misstatement of this other information, we
are required to report that fact.
We have nothing to report in this regard.
Page 5

Independent Auditor's Report (continued)
to the Members of
Lambourn Valley Houslng Trust
Opinlons on Other Matters Prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of the audit:
the information given in the Trustees, Report, which includes the Director's Report prepared for
the PLSrposes of company law, for the financial year for which the financial statements are
prepared is consistent with the financial statements; and
the Director's Report included within the Trustees, Report have been prepared in accordance
with applicable legal requirements.
Matters on Whlch We Are Required to Report by Exceptlon
In the light of the knowledge and understanding of the charltable company and its environment
obtained in the course of the audit, we have not identified material misstatements in the Director's
Report included within the Trustees, Report.
We have nothing to report in respect of the following matters In relation to which the Companies Act
2006 requires us to report to you if, in our opinion.,
adequate accounting records have not been kept or returns adequate for our audit have not
been received from branches not vislted by us; or
the financial statements are not in agreement with the accounting records or returns; or
certain disclosures of trustees, remuneration specified by law are not made; or
we have not received all the information and explanations we requlre for our audit; or
the trustees were not entitled to prepare the financial statements in accordance with the small
companles regime and take advantage of the small companles, exemptions in preparing the
Trustees, Report and from the requirement to prepare a Strategic Report.
Responslbllltles of Trustees
As explalned more fully in the Trustees, Responslbilities Statement set out on page 2 4, the
trustees (who are also directors of the charitable company for the purposes of company law) are
responsible for the preparation of the financial statements and for being satisfied that they give a
true and fair view, and for such internal control as the trustees determine is necessary to enable the
preparation of financial statements that are free from material mlsstatement, whether due to fraud
or error.
In preparing the financial statements, the trustees are responsible for assessing the charitable
company's ability to continue as a going concern, disclosing, as applicable, matters related to going
concern and using the going concern basis of accounting unless the trustees either intend to
Ilquldate the charity or to cease operations, or have no realistic alternative but to do so.
Page 6

Independent Auditor's Report (continued)
to the Members of
Lambourn Valley Housing Trust
Auditor's Responslbilities for the Audlt of the Financial Statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a
whole are free from material misstatement, whether due to fraud or error, and to issue an auditorfs
report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a
guarantee that an audit conducted in accordance with ISAS (UK) will always detect a material
misstatement when it exists. Misstatements can arise from fraud or error and are considered
material if, individually or in the aggregate, they could reasonably be expected to influence the
economic decisions of users taken on the basis of these financial statements.
The extent to which our procedures are capable of detecting irregularities, including fraud is detailed
below..
the nature of the charity and sector, control environment and operating performance.
the charity's own assessment, including assessments made by key management, of the risks
that irregularities may occur either as a result of fraud or error;
any matters we identified having reviewed the charity's policies and procedures relating to:
l. identlfying, evaluating and complylng wlth laws and regulations and whether they were aware
of any instances of non-compliance;
2. detecting and responding to the risks of fraud and whether they have knowledge of any artual,
suspected or alleged fraud,. and
3. the internal controls established to mitigate risks of fraud or non-compliance with laws and
regulations;
the matters dlscussed amongst the engagement team.
As a result of these procedures, we considered the opportunities and incentives that may exist
withln the organisation for fraud and identified the greatest potential for fraud In the areas in which
management is required to exercise significant judgement, such as the recognition of income. In
common with all audits under ISAS (UK), we are also required to perform speclflc procedures to
respond to the risk of management override.
We also obtalned an understanding of the legal and regulatory framework that the company
operates in, focusing on provisions of those laws and regulations that had a direct effect on the
determination of material amounts and dlsclosures in the financial statements. The key laws and
regulations we considered in this context were the Companles Act, tax legislation and environmental
regulatlons.
Because of the inherent Ilmitations of an audit, there is a risk that we will not detect all
Irregularities, including those leading to a material misstatement in the financial statements or non
compliance with regulation. This risk increases the more that compliance with a law or regulation is
removed from the events and transactions reflected in the financial statements, as we will be less
likely to become aware of instances of non-compliance. The risk is also greater regarding
irregularities occurring due to fraud rather than error, as fraud involves intentional concealment,
forgery, collusion, omission or misrepresentation.
A further description of our responsibilitles for the audit of the flnanclal statements is located on the
Financial Reporting Council's website www.frc.org.uk/auditorsresponsibilities. This description forms
part of our auditor's report.
Page 7

Independent Auditor's Report {contlnued)
to the Members of
Lambourn Valley Housing Trust
Use Of Our Report
This report is made solely to the charitable company's members, as a body, in accordance with
Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we
might state to the charitable company's members those matters that we are required to state to
thern in an auditor's report and for no other purpose. To the fullest extent permitted by law, we do
not accept or assume responsibility to anyone other than the charitable company and the charitable
cornpany's members as a bodyi for our audit work, for this report, or for the opinions we have
formed.
Carollne Webster FCA (Senior Statutory Auditor)
for and on behalf of UHY Ross Brooke, Statutory Auditor
Date 2811012025
UHY Ross Brooke
Suite I, Windrush Court
Abingdon Business Park
Abingdon
Oxfordshire
Page 8

Lambourn Valley Housing Trust
statement of Flnanclal Activitles (including Income and Expenditure Account)
For The Year Ended 31 January 2025
2025
Unrestricted Unrestricted
funds
funds
2024
Notes
INCOME AND ENDOWMENTS FROM:
Donations and legacies
Charitable activities:
Charitable rental income
25,886
534,660
234,023
202,867
737,527
259,909
EXPENDITURE ON:
Charitable activities:
Charitable expenditure
NET INCOME
(203,030)
56,879
(174,245)
563,282
NET MOVEMENT IN FUNDS
RECONCILIATION OF FUNDS:
Total funds brought forward
TOTAL FUNDS CARRIED FORWARD
56,879
563,282
2,816,555
2,253,273
15
2,873,434
2,816,555
The statement of financial activities includes all gains and losses recognised In the year. All Income
and expenditure derive from continuing activities.
The notes on pages 11 to 18 form part of these financial statements.
Page 9

Lambourn Valley Housing Trust
Balance Sheet
As At 31 January 2025
2025
Unrestricted
funds
2024
Total
funds
Notes
FIXED ASSETS
Tangible Assets
io
3,415,084 3,467,946
3,415,084 3,467,946
CURRENT ASSErs
Debtors
Cash at bank and In hand
li
8,977
37,250
30,085
59,479
89,564
46,227
Credltors: Amounts Falllng Due Wlthln One Year
12
(162,877) (15,955)
NET CURRENT ASSETS (LIABILITIES)
(116,650)
73,609
TOTAL ASSETS LESS CURRENT UABILITIES
3,298,434 3,541,555
Credltors: Amounts Falllng Due After More Than One
Year
13
(425,000) {725,000)
NET ASSETS
2,873,434 2,816,555
FUNDS OF THE CHARITY
Unre5trirted Funds
2,873,434 2,816,555
2,873,434 2,816,555
TOTAL FUNDS
15
These accounts have been prepared In accordance wlth the provisions appllcable to cornpanies
subject to the small companies regime.
On behalf of the board
Captaln R M Smyly
Trustee
Date
The notes on pages 11 to 18 form part of these financial statements.
Page 10

Lambourn Valley Housing Trust
Notes to the Financial Statements
For The Year Ended 31 January 2025
l. General Informatlon
Lambourn Valley Housing Trust is a company limited by guarantee, incorporated in England & Wales,
registered number 03110601 and registered charity number 1049742. The registered office is 2 The
Old Estate Yard, East Hendred, Wantage, Oxfordshire, OX12 8JY.
2. Accountlng Pollcies
2.1. Basls of Preparation of Flnanclal 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 l January 2019)" Financial
Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of
Ireland" and the Companies Act 2006,
The charitable company is a Public Benefit Entity as defSned by FRS 102.
2.2. Flnancial Reportlng Standard 102 - Reduced Dlsclosure Exemptlons
The charitable company has taken advantage of the following disclosure exemptions in
preparing these financial statements, as permitted by FRS 102 "The Financial Reporting
Standard applicable in the UK and Republic of Ireland":
the requirements of Section 7 Statement of Cash Flows and Sectlon 3 Financial
statement Presentation paragraph 3.17 (d).
2.3. Golng Concern Dlsclosure
The trustees have not identified any material uncertainties related to events or conditions that
may cast significant doubt about the charitable company's ability to continue as a 90ing
concern.
2.4. Fund Accountlng
Unrestricted funds are avallable for use at the discretion of the trustees in furtherance of thelr
charitable objectives.
Restricted funds are subject to speclfic conditions by donors or grantors as to how they may be
used. The purposes and uses of the restricted funds are set out in the notes to the financial
statements.
Endowment funds are subject to specific conditions by donors that the capital must be
maintalned by the charitable company.
Page 11

Lambourn Valley Housing Trust
Notes to the Financial Statements (continued)
For The Year Ended 31 January 2025
2.5. Incoming Resources
Income is recognised when the charitable company is legally entitled to it after any
performance conditions have been met, the amounts can be measured reliably, and it is
probable that income will be received.
Cash donations are recognised on receipt. Other donations are recognised once the charitable
company has been notified of the donation, unless performance conditions require deferral of
the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds
of covenant is recognised at the time of the donation.
Legacies are recognised on receipt or otherwise If the charitable company has been notified of
an impending distribution, the amount is known, and recelpt is expected. If the amount Is not
known, the legacy is treated as a contingent asset.
2.6. Resources Expended
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 Is classified by actlvity. The costs of each activity are made up of the total of direct
costs and shared costs, including support costs Involved in undertaking each activity. Direct
costs attributable to a single activity are allocated directly to that activity. Shared costs which
contribute to more than one activity and support costs which are not attributable to a single
activity are apportioned between those activities on a basis consistent with the use of
resources. Central staff costs are allocated on the basis of tlme spent, and depreciation
charges are allocated on the portion of the asset's use.
Expenditure is recognised once there Is a legal or constructive obligation to make a payment to
third party, it is probable that settlement will be required and the amount of the obligatlon
can be measured reliably.
Charitable activities include expenditure associated with meeting the charitable objectives.
Support costs are those functlons that assist the work of the charity but do not directly
undertake charitable activities.
Governance cost include those incurred In the governance of the charity and its assets and are
primarily associated with constitutional and statutory requirements.
2.7. Tanglble Flxed Assets and Depreclatlon
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated
impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed
assets, less their estimated residual value, over their expected useful lives on the following
bases:
Freehold
20/0 on buildings, land is not depreciated
Fixtures & Fittings
3 years straight line
The gain or loss arising on the disposal of an asset is determined as the difference between the
sale proceeds and the carrying value of the asset, and is recognised in the statement of
financial activities.
Unless there is information to the contrary the Trustees have assumed that the freehold cost is
split of 33.33010 land and 66.670/0 buildings.
Page 12

Lambourn Valley Housing Trust
Notes to the Financial Statements (continued)
For The Year Ended 31 January 2025
2.8. Cash and Cash Equivalents
Cash and cash equivalents are basic financial assets and Include cash in hand and deposits
held at call with banks, other short-term highly liquid investments that mature in no more than
three months from the date of acquisition and are readily convertible to a known amount of
cash with insignificant risk of change in value, and bank overdrafts.
2.9. Taxation
The charity is exempt from tax as all its income is charitable and applied for charitable
purposes.
3. Income from Donations and Legacles
2025
Unrestrlcted Unrestrlcted
funds
funds
2024
Donations and gifts
25,886
534,660
4. Income from Charltable Actlvltles
2025
2024
Unrestrlcted Unrestrlcted
funds
funds
Charitable rental income
234,023
202,867
5. Analysls of Expendlture
2025
Activitles
undertaken
directly
(see note 6)
Support
costs
(see note
7)
Total
Charitable expenditure
144,302
58,728
203,030
2024
Actlvitles
undertaken
directly
(see note 6)
Support
Costs
(see note
7)
Total
Charitable expenditure
106,705
67,540
174,245
Page 13

Lambourn Valley Housbng Trust
Notes to the Financial Statements (continued)
For The Year Ended 31 January 2025
6. Dlrect Costs
2025
Charitable
expendlture
General administration..
Management fees
Repairs, renewals and malntenance
Insurance
Depreciation:
Depreciation
30,517
52,527
8,396
52,862
144,302
2024
Charltable
expendlture
General admlnlstration:
Management fees
Repairs, renewals and maintenance
Insurance
Depreciation:
Depreciation
30,652
29,849
6,558
39,646
106,705
Page 14

Lambourn Valley Housing Trust
Notes to the Financial Statements (continued)
For The Year Ended 31 January 2025
7. Support Costs
2025
Charitable
expenditure
General administration:
Printing, postage and stationery
Sundry expenses
Interest payable:
Bank loan interest
Governance costs:
Audit fees
Accountancy fees
64
300
47,332
7,200
3,832
58,728
2024
Charitable
expendlture
General administration:
Printing, postage and stationery
Bank charges
Bad debts written off
Sundry expenses
Interest payable:
Bank loan Interest
Governance costs:
Audit fees
Accountancy fees
205
8,010
6,165
67
41,637
9,000
2,456
67,540
8. Auditor's Remuneration
Remuneration received by the charitable company's auditors and their associates during the year
was as follows:
2025
2024
Audlt Servlces
Audit of the company's financial statements
7,200
9,000
Page 15

Lambourn Valley Housing Trust
Notes to the Financial Statements (continued)
For The Year Ended 31 January 2025
9. Average Number of Employees
Average number of employees during the year was: NIL (2024: NIL)
10. Tanglble Assets
Land &
Property
Freehold Fixtures &
FSttings
Total
Cost
As at l February 2024
As at 31 January 2025
3,964,642
3,964,642
1,417 3,966,059
1,417 3,966,059
Depreclation
As at l February 2024
Provided during the period
As at 31 January 2025
496,696
52,862
549,558
1,417
498,113
52,862
550,975
1,417
Net Book Value
As at 31 January 2025
3,415,084
3,415,084
As at l February 2024
3,467,946
3,467,946
As of September 2017 the trustees are no longer requlred to offer the Councll the first opportunity
to purchase the Francomes Field's properties 1- 18 should the trustees choose to sell. Francomes
Field's carrylng value as at the 31 January 2025 totalled £1,388,094 (2024 £1,388,094).
Land and buildings are included in the accounts at cost. The properties, excluding the addition of St
Michael's Close held at cost, have been valued at £5,520,046. This valuation was carried out by
Pilgrim Bond Chartered Surveyors in September 2022. The trustees deem this valuation to
continueto be a falr presentation of the market value as at the year end.
I l. Debtors
2025
2024
Due wlthln one year
Trade debtors
other debtors
4,086
4,891
8,977
25,607
4,478
30,085
Page 16

Lambourn Valley Housing Trust
Notes to the Financial Statements (continued)
For The Year Ended 31 January 2025
12. Creditors: Amounts Falling Due Within One Year
2025
2024
Trade creditors
Bank loans and overdrafts
Accruals and deferred income
869
150,000
12,008
3,177
12,778
15,955
162,877
13, Creditors: Amounts Falllng Due After More Than One Year
2025
2024
Bank loans
425,000
725,000
14. Loans
The total loan balance comprises of two separate loans.
The first loan is for £300,000 and is a secured interest only loan. Interest on the loan is charged at a
fixed rate of 5.990/0 until the expiry date of 30 May 2028 when the loan balance becomes payable.
The second loan Is for £275,000 and Is an interest only loan. Interest Is charged at 2.640/0 over the
base rate. At the year end, the interest rate payable was 7.390/0. This loan is due for payment at the
expiry date of 30 April 2033.
2025
2024
Amounts falling due within one year or on demand:
Bank loans
150,000
2025
2024
Amounts falling due between one and five years..
Bank loans
425,000
725,000
Page 17

Lambourn Valley Housing Trust
Notes to the Flnancial Statements (continued)
For The Year Ended 31 January 2025
15. Movement In Funds
Asati
February
2024
Asat31
January
2025
Income Expenditure
Unrestricted funds
General:
General unrestricted fund
2,816,555
259,909
(203,030) 2,873,434
Total funds
2,816,555
259,909
(203,030) 2,873,434
Asatl
February
2023
Asat31
January
2024
Income Expendlture
Vnrestrlcted funds
General:
General unrestrlcted fund
2,253,273
737,527
(174,245) 2,816,555
Total funds
2,253,273
737,527
(174,245) 2,816,555
16. Transactlons wlth Trustees
During the year the expenses reimbursed to the trustees or paid directly to third parties were as
follows..
2025
2024
Other Expenses
3,912
3,261
Number of trustees reimbursed for expenses during the year was 2 (2024: 2)
17. Related Party Dlsclosures
During the year, management fees relating to St Michael's Close of £3,840 (2024 - £1,920) were
paid to C Dunlopi a Trustee of Lambourn Valley Housing Trust.
18. Company Ilmlted by guarantee
The company is limited by guarantee and has no share capital.
Every member of the company undertakes to contribute to the assets of the companyi in the event
of a winding up, such an amount as may be required not exceeding £1.
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