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|`Contents`|`Page`|
|---|---|
|`Trustee’sReport`|`1-7`|
|`IndependentAuditor'sReport`|`8-10`|
|`StatementofFinancialActivities`|`11`|
|`BalanceSheet`|`12`|
|`NotestotheFinancialStatements`|`13- 20`|





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|`Almshousesaddress:`|`272ConsortRoad`|
|---|---|
||`London`|
||`SE153SD`|
|`Administrationaddress:`|`Girdlers’Hall,BasinghallAvenue,`|
||`LondonEC2V5DD`|
|`Bankers:`|`NationalWestminsterBankplc`|
||`PO Box712`|
||`94Moorgate`|
||`LondonEC2M6UR`|
|`Auditor:`|`SafferyLLP`|
||`71QueenVictoriaStreet`|
||`London`|
||`EC4V4BE`|
|`InvestmentManager:`|`W1M`|
||`16BabmaesStreet`|
||`London`|
||`SW1Y6AH`|





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|||`Extraordinary`|||`Total`|`Total`|
|---|---|---|---|---|---|---|
|||`Repair`|`Unrestricted`|`Permanent`|`Funds`|`Funds`|
||`Notes`|`Fund`|`Funds`|`Endowment`|`2025`|`2024`|
|||`£`|`£`|`£`|`£`|`£`|
|`Incomeandendowmentsfrom:`|||||||
|`Donations& legacies`||`-`||`-`|`-`|`-`|
|`Investments`|`3`|`-`|`51,439`|`-`|`51,439`|`52,863`|
|`Charitableactivities`|||<br>`133,645`|<br> <br>`-`|<br> <br>`133,645`|<br> <br>`122,210`|
|`TotalIncome`||<br>`-`|<br>`185,084`|<br>`-`|<br>`185,084`|<br>`175,073`|
|`Expenditureon`||||<br>|<br>|<br>|
|`RaisingFunds`<br>`Charitableactivities`|<br>`4`|<br>`24,828`|<br>`16,140`<br>`313,019`|<br>`-`<br>`-`|<br>`16,140`<br>`337,847`|<br>`15,736`<br>`273,387`|
|`:`<br>`Totalexpenditure`||<br>`24,828`|<br>`329,159`|<br> <br>`-`|<br> <br>`353,987`|<br> <br>`289,123`|
|`NetExpenditurebefore`|||||||
|`gains/(losses)on`||`(24,828)`|`(144,075)`|`-`|`(168,903)`|`(114,050)`|
|`investments`|||||||
|`Netgain/(loss)on`<br>`investments`|||`321,704`|`.`|`321,704`|`465,150`|
|<br>`Netexpenditure/(income)`<br>`beforetransfers`||<br>`(24,828)`|<br>`177,629`|<br> <br>`-`|<br> <br>`152,801`|<br> <br>`351,100`|
|`Transfer`||`20,412`|`(20,412)`|`-`||`-`|
|<br> <br>`Nounevenertiafunds`||<br> <br>`(4,416)`|<br> <br>`157,217`|<br> <br> <br> <br>`-`|<br> <br> <br> <br>`152,801`|<br> <br> <br> <br>`351,100`|
|`Balancesbroughtforwardat`|||||||
|`30"September2024`|<br>|<br>`29,416`|<br>`3,068,187`|<br> <br>`1,238,250`|<br> <br>`4,335,853`|<br> <br>`3,633,653`|
|`Balancescarriedforward`|||||||
|`at29"September2025`<br>||`25,000`<br>|`3,225,404`<br>|`1,238,250`<br> <br>|`4,488,654`<br> <br>|`3,984,753`<br> <br>|





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||`notes`|`notes`|`2025`||`2024`|
|---|---|---|---|---|---|
||||`£`||`£`|
|`FixedAssets`||||||
|`Invesiment`|`6`|`(a)`|`3,224,573`||`3,068,855`|
|`Almshouses`|`6`|`(b)`|`1,138,250`||`1,138,250`|
|`Investment(agriculturalland)`|`6`|`(c)`|`100,000`||`100,000`|
||||<br>`4,462,823`||<br>`4,307,105`|
|`Currentassets`||||||
|`Debtors`||`7`|`20,468`||`19,252`|
|`Cashatbank`|||`78,703`||`68,880`|
||||<br> <br>`99,171`|<br>|<br> <br>`88,132`|
|`Creditors:amountsfallingduewithin`<br>`oneyear`||`8`|`(73,340)`<br>`,`||`(59,384)`<br>`,`|
|`Netcurrentassets`|||<br>`25,831`||<br>`28,748`|
|`Netassets`|||`4,488,654`||<br>`4,335,853. `|
|`Funds`||||||
|`Permanentendowment`<br>`Extraordinaryrepairfund`<br>`Unrestricted— generalfund`|||<br>`1,238,250`<br>`25,000`<br>`3,225,404`|`___`|`1,238,250`<br>`29,416`<br> `3,068,187`|
||||<br>`4,488,654`||`_4,335,853`|





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|`InvestmentIncome`|||
|---|---|---|
||`2025`|`2024`|
||`£`|`£`|
|`RentfromRomneyMarsh`|`3,300`|`3,300`|
|`Investmentincome- Equities`|`46,425`|`48,257`|
|`Bankinterest`|<br>`1,714`|`1,306`|
|`Totalincomingresources`|<br>`51,439`<br> <br>|`52,863`|





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||`Extraordinary`|`Unrestricted`|`2025`|`2024`|
|---|---|---|---|---|
||`RepairFund`||||
||`£`|`£`|`£`|`£`|
|`Entertainment`<br>`Cleaning`<br>`Lightandheat`<br>`Gardenandtreemaintenance`<br>`Insurance`<br>`Repairsandmaintenance`<br>`Telephone`<br>`Manager’ssalarycosts`<br>`Apportionedsalarycosts`<br>`Waterrates`<br>`Sundries`<br>`Aidcall`<br>`Hampers/cakesanddonations`<br>`Governancecosts`<br>`SouthwarkCharitiesManagement`|<br>`-`<br>`-`<br>`-`<br>`-`<br>`-`<br>`24,828`<br>`-`<br>`-`<br>`-`<br>`-`<br>`-`<br>`-`<br>`-`<br>`-`|<br>`4,212`<br>`2,560`<br>`4,363`<br>`4,886`<br>`3,420`<br>`155,663`<br>`1,497`<br>`48,963`<br>`53,527`<br>`318`<br>`3,439`<br>`1,440`<br>`1,516`<br>`18,426`<br>`8,589`|<br>`4,212`<br>`2,560`<br>`4,363`<br>`4,886`<br>`3,420`<br>`180,691`<br>`1,497`<br>`48,963`<br>`§3,527`<br>`318`<br>`3,439`<br>`1,440`<br>`1,516`<br>`18,426`<br>`8,589`|<br>`2,866`<br>`4,070`<br>`4,795`<br>`3,940`<br>`3,644`<br>`141,714`<br>`836`<br>`51,888`<br>`44,505`<br>`733`<br>`1812`<br>`1,136`<br>`1,580`<br>`9,868`<br>`-`|
||`24,828`<br>|`313,019`<br>|`337,847`<br>|`273,387`<br>|



|`Staffcosts`|||
|---|---|---|
||`2025`|`2024`|
||`£`|`£`|
|`Wagesandsalaries`<br>`Employer'sNIC`<br>`Pensioncost`|`81,198`<br>`8,783`<br>`12,509`|`74,654`<br>`9,468`<br>`12,271`|
||<br>`102,490`<br>|<br>`96,393`<br>|



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||`Total`|`Total`|
|---|---|---|
||`Funds`|`Funds`|
||`2025`|`2024`|
||`£`|`£`|
|`Listedinvestments`|`3,100,316`|`3,058,254`|
|`Cashawaitingre-investment`|<br>`124,257`|<br>`10,601`|
||<br>`3,224,573`|<br>`3,068,855`|
|`Marketvalueoflistedinvestments`|||
|`30September2024`|`3,058,255`|`2,540,170`|
|`Additions`|`489,446`|`1,146,862`|
|`Disposals`|`(740,421)`|`(1,106,982)`|
|`Unrealisedgain/{loss)`|`293,036`|`478,205`|
|`MarketValue`|||
|`29September2025`|`3,100,316`<br>|`3,058,255`<br>|





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|`TheCharityalsoowns24.436acresoffreeholdagriculturalland`<br>`atOrlestone,Romney`<br>`Marsh.`<br>`Thislandwasbequeathedfora termof1000yearstotheGirdlers’Companyunder`<br>`thetermsofthewillofThomasNevittof1633and`<br>`issubjectto`<br>`aFarmBusinessTenancy`<br>`Agreementdated8"April2021.`<br>`TheTrustee,havingtakenprofessionaladvice,revalued`<br>`theland`<br>`at£100,000`<br>`at29September2011`<br>`andconsidersthatthevaluationhasnot`<br>`materiallychanged.`|`TheCharityalsoowns24.436acresoffreeholdagriculturalland`<br>`atOrlestone,Romney`<br>`Marsh.`<br>`Thislandwasbequeathedfora termof1000yearstotheGirdlers’Companyunder`<br>`thetermsofthewillofThomasNevittof1633and`<br>`issubjectto`<br>`aFarmBusinessTenancy`<br>`Agreementdated8"April2021.`<br>`TheTrustee,havingtakenprofessionaladvice,revalued`<br>`theland`<br>`at£100,000`<br>`at29September2011`<br>`andconsidersthatthevaluationhasnot`<br>`materiallychanged.`|`TheCharityalsoowns24.436acresoffreeholdagriculturalland`<br>`atOrlestone,Romney`<br>`Marsh.`<br>`Thislandwasbequeathedfora termof1000yearstotheGirdlers’Companyunder`<br>`thetermsofthewillofThomasNevittof1633and`<br>`issubjectto`<br>`aFarmBusinessTenancy`<br>`Agreementdated8"April2021.`<br>`TheTrustee,havingtakenprofessionaladvice,revalued`<br>`theland`<br>`at£100,000`<br>`at29September2011`<br>`andconsidersthatthevaluationhasnot`<br>`materiallychanged.`|`TheCharityalsoowns24.436acresoffreeholdagriculturalland`<br>`atOrlestone,Romney`<br>`Marsh.`<br>`Thislandwasbequeathedfora termof1000yearstotheGirdlers’Companyunder`<br>`thetermsofthewillofThomasNevittof1633and`<br>`issubjectto`<br>`aFarmBusinessTenancy`<br>`Agreementdated8"April2021.`<br>`TheTrustee,havingtakenprofessionaladvice,revalued`<br>`theland`<br>`at£100,000`<br>`at29September2011`<br>`andconsidersthatthevaluationhasnot`<br>`materiallychanged.`|<br> <br> <br> <br>|
|---|---|---|---|---|
|`Debtors`||`2025`|<br>`2024`||
|||`£`|`£`||
|`Otherdebtorsandprepayments`<br>`Fundsduefrominvestmentmanager`<br>`Rentdue`||`8,953`<br>`11,515`|<br>`7,554`<br> <br>`11,698`<br>`-`|<br> <br>`-`|
|||`20,468`|<br> <br> <br>`19,252`|<br> <br>|
|`Creditors:Amountsfallingduewithinoneyear`||`2025`|<br> <br>`2024`|<br>|
|||`£`|`£`||
|`Auditandaccountancy`<br>`Investmentmanager'sfees`<br>`AmountsduetotheGirdlers’Company`<br>`Othercreditors`||`8,070`<br>`4,000`<br>`50,051`<br>`11,219`|<br>`7,788`<br> <br>`4,000`<br> <br>`43,768`<br> <br>`3,828`|<br> <br> <br>|
|||<br>`73,340`|<br> <br>`59,384`|<br>|



|`9.`|`Outlinesummaryoffundmovements`|`Outlinesummaryoffundmovements`|||||
|---|---|---|---|---|---|---|
||`Yearended29September2025`||||||
||`Fund`<br>`Balance`<br>`bfwd`|`Income`|`Expenditure’`|`Transfers`|`calsand`<br>`Losses`|`edance`<br>`cfwd`|
||<br> <br>`ERF`<br>`29,416`<br>`Unrestricted`<br>`3,068,187`<br>`Permendow’t`<br>`1,238,250`<br>`Total`<br>`4,335,853`|<br> <br>`£`<br>`-`<br>`185,084`<br>`185,084`|<br> <br>`£`<br>`(24,828)`<br>`(329,159)`<br>`(353,987)`|<br> <br>`£`<br>`20,412`<br>`(20,412)`<br>`-`|<br> <br>`£`<br>`-`<br>`321,704`<br>`321,704`|<br> <br>`£`<br>`25,000`<br>`3,225,404`<br>`1,238,250`<br>`4,488,654`|
||`Asat29%September2024`||||||
||`Balance`<br>`Fund`<br>`bfwd`|`Income`|`.`<br>`Expenditure`|`Transfers`|`Gainsand`<br>`Losses`|`Balances`<br>`cfwd`|
||<br>`ERF`<br>`9,416`<br>`Unrestricted`<br>`2,737,087`<br>`Permendow’t`<br>`1,238,250`<br>`Total`<br>`3,984,753`<br>|<br>`£`<br>`-`<br>`175,073`<br>`-`<br>`175,073`<br>|<br>`£`<br>`(289,123)`<br>`(289,123)`<br>|<br>`£`<br>`20,000`<br>`(20,000)`<br>`-`<br>`-`<br>|<br>`£`<br>`-`<br>`465,150`<br>`-`<br>`465,150`<br>|<br>`£`<br>`29,416`<br>`3,068,187`<br>`1,238,250`<br>`4,335,853`<br>|





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|||`Extraordinary`||||
|---|---|---|---|---|---|
||`Permanent`|`Repair`||`General`||
||`Endowment`|`Fund`||`Fund`|`Total`|
||`£`|`£`||`£`|`£`|
|`Propertyandinvestments`|`1,238,250`||`-`|`3,224,573`|`4,462,823`|
|`Netcurrentassets/(liabilities)`||`25,000`||`831`|`25,831`|
||<br>`1,238,250`|<br>`25,000`|<br>|<br>`3,225,404`|<br>`4,488,654`|
|`Asat29%September2024`||||||
|||`Extraordinary`||||
||`Permanent`|`Repair`||`General`||
||`Endowment`|`Fund`||`Fund`|`Total`|
||`£`|`£`||`£`|`£`|
|`Propertyandinvestments`|`1,238,250`||`-`|`3,068,856`|`4,307,105`|
|`Netcurrentassets`||`29,416`||`(668)`|`28,748`|
||<br>`1,238,250`|<br>`29,416`|<br>|<br>`3,068,187`|<br>`4,335,853`|





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|||`Extraordinary`|||||
|---|---|---|---|---|---|---|
||`Notes`|`Repair`<br>`Fund`|`Unrestricted`<br>`Funds`|`Permanent`<br>`Endowment`|`Funds`<br>`2024`|`Funds`<br>`2023`|
|||`£`|`£`|`£`|`£`|`£`|
|`Incomeandendowmentsfrom:`|||||||
|`Donations& legacies`||`-`|`-`|`-`|`-`|`-`|
|`Investments`|`3`|`-`|`52,863`|`-`|`52,863`|`46,109`|
|`Charitableactivities`||<br>`-`|<br>`122,210`|<br>`-`|<br>`122,210`|<br>`113,340`|
|`TotalIncome`||<br>`-`|<br>`175,073`|<br>`-`|<br>`175,073`|<br>`159,449`|
|`Expenditureon`|||||||
|`RaisingFunds`<br>`Charitableactivities`|<br>`4`|<br>`-`|<br>`15,736`<br>`273,387`|<br>`-`<br>`-`|<br>`15,736`<br>`273,387`|<br>`14,668`<br>`306,921`|
|`Totalexpenditure`|||<br>`289,123`|<br>`-`|<br>`289,123`|<br>`321,589`|
|`NetExpenditurebefore`|||||||
|`gains/(losses)on`<br>`investments`||`-`|`(114,050)`|`-`|`(114,050)`|`(162,140)`|
|`Netgain/(loss)on`<br>`investments`||`:`|`465,150`|`.`|`465,150`|`251,248`|
|<br>`Netexpenditure/(income)`<br>`beforetransfers`||<br>`-`|<br>`351,100`|<br>`-`|<br>`351,100`|<br>`89,108`|
|`Transfer`||`20,000`|`(20,000)`|`-`|`-`|`-`|
|<br> <br>`Netmovementinfunds`||<br> <br>`20,000`|<br> <br>`331,100`|<br> <br>`-`|<br> <br>`351,100`|<br> <br>`89,108`|
|`Balancesbroughtforwardat`|||||||
|`30"September2023`|<br>|<br>`9,416`|<br>`2,137,087`|<br>`1,238,250`|<br>`3,984,753`|<br>`3,895,645`|
|`Balancescarriedforward`|||||||
|`at29'"September2024`<br>||`29,416`<br>|`3,068,187`<br>|`1,238,250`<br>|`4,335,853`<br>|`3,984,753`<br>|