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2025-03-31-accounts

BRISTOL AND ANCHOR ALMSHOUSE CHARITY REPORT & FINANCIAL STATEMENTS 31 MARCH 2025

Charity Number: 1075673 Tenants Service Authority Number: A4256

BRISTOL AND ANCHOR ALMSHOUSE CHARITY

FINANCIAL STATEMENTS

YEAR ENDED 31 MARCH 2025

Contents Page
Reference and Administrative Information 1
Trustees’ Annual Report 2 – 6
Independent Auditor’s Report 7 – 9
Statement of Financial Activities 10
Balance Sheet 11
Notes to the Financial Statements 12 – 22
The following page(s) do not form part of the statutory financial statements
which are the subject of the independent auditor’s report.
Almshouse and Beehive Centre Income and Expenditure 24

BRISTOL AND ANCHOR ALMSHOUSE CHARITY

REFERENCE AND ADMINSTRATIVE INFORMATION

YEAR ENDED 31 MARCH 2025

Legal and operating name

Bristol & Anchor Almshouse Charity

Charity registration number

1075673 (England & Wales)

Tenants Service Authority registration number

A4256

Principal Office and Contact Details

The Beehive Centre 19a Stretford Road, Whitehall Bristol BS5 7AW

Tel: 0117 9354471 Web: https://www.thebeehivebristol.co.uk/

Trustees

William Durie Derek Cann Rev Nicola Coleman Beverly Holtum - Resigned August 2025 Peter Woolf Elizabeth Welling Michael Bothamley – Resigned August 2025

David Bateson Elizabeth Evans – Resigned June 2024 Richard Jarratt Ann Smith Sarah Flint – Appointed March 2025

Independent Auditor

Burton Sweet Limited Statutory Auditor The Clock Tower 5 Farleigh Court Old Weston Road Flax Bourton Bristol BS48 1UR

Bankers

HSBC Bank 62 George White Street Bristol BS1 3BA

Investment Advisors

Brewin Dolphin 40 Queen Square Bristol BS1 4QP

1

BRISTOL AND ANCHOR ALMSHOUSE CHARITY

TRUSTEES’ ANNUAL REPORT

YEAR ENDED 31 MARCH 2025

1. Introduction

The trustees have pleasure in presenting their report and financial statements for the year ended 31 March 2025. The Trustees have adopted the provisions of the Statement of Recommended Practice (FRS102 SORP) ‘Accounting and Reporting by Charities’ in preparing the annual report and financial statements for the charity.

2. Objects and activities of the charity

The objects of the Bristol and Anchor Almshouse Charity (the Charity) set out in the governing document the Charity Commission Scheme of 16 November 1998 is the relief in need in relieving either generally or individually persons resident in the city of Bristol, who are in conditions of need, hardship or distress by making grants of money or providing or paying for items, services or facilities calculated to reduce the need, hardship or distress of such persons, with preference to be given to persons resident in the ancient parish of St John The Baptist and subject thereafter to persons resident in the ecclesiastical Parish of St Ambrose, Whitehall.

3. Residents

There are 22 almshouses in total, 14 two bedroom flats built in 2000 and 8 one bedroom Victorian cottages which are historic buildings. The 22 almshouses are on one site in Whitehall, Bristol. The accommodation is for independent living although, as residents get older, the Charity continues to support them for as long as possible and allows residents to receive care packages, social service assistance and support from the mental health team, as required.

Bristol and Anchor Almshouse Charity is a provider of social housing registered with, and regulated by, the Regulator of Social Housing (RSH) as well as a registered charity regulated by the Charity Commission.

Applications for housing are encouraged from anyone who believes they fulfil the three basic criteria (housing need, financial need and social need). All applicants are assessed in line with an internally approved policy. A sub-committee is responsible for interviewing and assessing new applicants and allocating vacant almshouses. The site has a Clerk, a Centre Manager and an Administrator available during office hours who oversee the site, along with a Handyman and cleaning staff.

Residents at the Charity live independently and need to be mobile. The Clerk and Staff’s remit is to ensure the daily well-being of all residents and to assist them with day to day living although they are not medically trained and do not provide personal care. Their role can be described as “being a good neighbour”. The Clerk and staff maintain regular contact with family members when necessary and in particular when a resident is unwell. The Trustees and Clerk meet regularly to discuss management and resident issues.

Residents pay a weekly maintenance contribution for their licence (as opposed to a rent) and a contribution to water, gas and electric. Weekly maintenance contributions vary between £129.50 - £176.00 per week depending on the accommodation that is provided. In addition, all residents pay a £30 per unit weekly contribution to water, electricity and gas, and communal services plus £29 per week for heating and lighting.

The Trustees aim to keep residents’ costs as low as possible by taking into account target rents from the RSH and equivalent fair rent assessments from the Valuation Office Agency. In addition, the Clerk consults with Bristol City Council on any rent increase ensuring that those residents who require assistance can access 100% of the weekly maintenance contribution payments through housing benefit if eligible.

2

BRISTOL AND ANCHOR ALMSHOUSE CHARITY

TRUSTEES’ ANNUAL REPORT

YEAR ENDED 31 MARCH 2025

Trustees and staff are aware of the implications of the proposed Care Act which brings social housing providers within the care sector and gives a greater role for social housing within care assessments. Policies to incorporate this role have been prepared and approved.

The Trustees strive to ensure a fair, consistent, and transparent process when allocating Almshouse accommodation. There is an approved policy within the Charity consisting of a comprehensive application form, an informal interview, a points system, and continual review of applicants known to us who are waiting for accommodation.

The Charity also provides a wide range of social activities to which residents are invited, but not obliged to attend. These take place in the Community Centre known as the Beehive.

4. The Beehive Community Centre

The Beehive Centre, previously the St Ambrose church hall, is an intergenerational community space for people living in the neighbourhood and nearby. The centre hosts approximately 3,500 attendances each month..

The Beehive Centre is a fully accessible community hub and meeting place. It aims to reduce social isolation and loneliness in the community by offering a wide range of daily activities for mixed ages and abilities that also promote health and wellbeing.

The Charity’s volunteers are led by fully trained tutors and volunteers. The centre also hosts many other groups and organisations.

The centre is a not-for-profit community-based organisation, which provides information and assistance to local residents and implements programmes to meet community needs.

It aims to establish a thriving, dynamic, community centre in the heart of Whitehall and St George, Bristol that:

Thus far the Charity has funded 100% of the Beehive Centre from its own resources. The Beehive Centre currently runs at an annual deficit of about £50,000.

The Charity is looking to obtain outside funding to assist with the running of the Beehive Centre. It will be looking for grants over the next financial year to ensure the Centre maintains the high standards and offers a comprehensive programme of activities to local residents and continues to be a destination place for people to come in St George.

5. Financial Review

In 2024-25 the Almshouse generated a surplus of £119,016 and the Beehive a deficit of £59,739, resulting in a surplus for the Charity of £59,277 (previous year £65,221) on income of £335,737 (2024: £300,147) and expenses of £318,716 (2024: £313,820). The difference between the surpluses in 202425 and 2023-24 is mainly accounted for by changes in the value of the investment portfolio.

The Charity has funded all the costs and deficit of the Beehive Centre from April 2020 when the LinkAge (West of England) charity, the previous organisation to operate in the Beehive Centre, closed down. In light of the current and anticipated cost of living pressures, the Beehive Community Centre will be looking for grant assistance to continue its programme of activities.

3

BRISTOL AND ANCHOR ALMSHOUSE CHARITY

TRUSTEES’ ANNUAL REPORT

YEAR ENDED 31 MARCH 2025

6. Reserves Policy

It is the Trustees’ policy to hold free reserves equal to between six and nine months expenditure. It is also the Trustees’ policy to generate annual surpluses to cater for future requirements and growth.

As at 31 March 2025 the charity held free reserves of £175,193, representing 6.5 months expenditure (previous year £434,608 and 16 months). The reduction in free reserves over the year is in relation to a designated fund set up for the cyclical maintenance of the almshouses, following the report of a stock condition survey.

7. Public Benefit

The Trustees confirm that they ensure that they meet the objects of the Charity for the public benefit, as defined by the Charities Act 2011 and have proper regard to the guidance published by the Charity Commission in respect of the subject of public benefit.

8. History, Structure, Governance and Management of the Charity

Bristol and Anchor Almshouse Charity is an unincorporated charity, established under a Charity Commission Scheme dated 16[th] November 1998. The Charity was brought into a single scheme by three former Almshouse charities, Bristol (St John the Baptist and St Ambrose) Charity, Hill’s Almshouse Charity and Whitson Street Almshouse Charity. A new building, comprising fourteen two bedroom flats, was completed in May 1999 and a Day Centre (now known as the Beehive Centre) was constructed in the former Church Hall of St Ambrose, Whitehall. The eight cottage dwellings, formerly owned by Bristol (St John the Baptist and St Ambrose) Charity, were re-furbished and modernised in August 1999.

The developments were financed by the reserves of the three charities, including the proceeds of sale of the properties of Hill’s Almshouses and Whitson Street Almshouse Charity, by grants from the Anchor Society and the Housing Communities Agency (HCA) and a by mortgage from Bristol and West Building Society.

The Trustees administer twenty-two units of accommodation for older people and the Beehive Centre at the Almshouse site.

Governing Document

Bristol and Anchor Almshouse Charity was founded as an unincorporated charity under a Charity Commission Scheme of 16th November 1998. The charity is in the process of changing to a Charitable Incorporated Organisation.

The Trustees meet formally on a quarterly basis with some business undertaken by electronic means. Between meetings, responsibility for the management of the charity lies with the Chair of the Board of Trustees, the Treasurer and the Clerk to the Trustees.

The key management personnel of the charity are the Chair and the Treasurer of the Board of Trustees and the Clerk to the Trustees.

The Board of Trustees consists of not less than twelve and not more than fourteen persons being:

4

BRISTOL AND ANCHOR ALMSHOUSE CHARITY

TRUSTEES’ ANNUAL REPORT

YEAR ENDED 31 MARCH 2025

Each nominated Trustee appointment shall be made for a term of four years at a meeting convened and held according to the ordinary practice of the appointing body. Co-opted Trustees are appointed for a term of five years by a resolution of the Trustees passed at a special meeting of which not less than 21 days’ notice has been given.

Induction and training of new Trustees follows the National Almshouse Association guidelines.

9. Risk Management

Trustees regularly log major strategic, business, financial and operational risks which the Charity faces and have established procedures to manage organisational risks to ensure compliance with best practice and legislation and to cover the delivery of projects. A new approach to risk management was set up and a sub committee of Chair, Clerk to the Trustees and two Trustees established to take this forward.

10. Cyclical Maintenance Fund (CMF)

The flats were built and the Victorian cottages refurbished 25 years ago. They are starting to show their age. A Stock Condition Report was commissioned in November 2024 which identified £330,000 of repairs and updates that are likely to arise in the next several years.

Kitchens, bathrooms and heating systems in the flats and cottages will need updating or replacing, some of the wooden windows will need replacing, other windows will need significant repair, and other elements of the building structure will need attention.

The Trustees take pride in the quality of the accommodation. Repairs and maintenance of the estate is an ongoing process. Some of the work identified in the Stock Condition report was completed before the 2024-25 year end.

Accordingly the Trustees agreed to create a new Delegated Fund of £300,000 for Cyclical Maintenance to cover the balance of the work required.

11. 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 including Financial Reporting Standard 102 and the Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).

The law applicable to charities in England & Wales 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 income and expenditure of the charity for that period. In preparing these financial statements, the trustees are required to:

5

BRISTOL AND ANCHOR ALMSHOUSE CHARITY

TRUSTEES’ ANNUAL REPORT

YEAR ENDED 31 MARCH 2025

The trustees are responsible for keeping sufficient accounting records that 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 Charity Commission Scheme. 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 trustees on …………………. and signed on its behalf by: 18 December 2025

Ann Smith, Chair

6

BRISTOL AND ANCHOR ALMSHOUSE CHARITY

INDEPENDENT AUDITOR’S REPORT

YEAR ENDED 31 MARCH 2025

Independent auditor’s report to the members of Bristol & Anchor Almshouse Charity

Opinion

We have audited the financial statements of Bristol & Anchor Almshouse Charity (the “Charity”) for the year ended 31 March 2025 which comprise the Statement of Financial Activities, the Balance Sheet and notes to the financial statements, 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, including Financial Reporting Standard 102: The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).

In our opinion, the financial statements:

Basis of opinion

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 Charity 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.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the trustees’ use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

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 charity's ability to continue as a going concern for a period of at least twelve 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 information

The trustees are responsible for the other information. The other information comprises the information included in the annual report other than the financial statements and our auditor’s report thereon. Our opinion on the financial statements does 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

7

BRISTOL AND ANCHOR ALMSHOUSE CHARITY

INDEPENDENT AUDITOR’S REPORT

YEAR ENDED 31 MARCH 2025

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 there is a material misstatement of the other information. 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.

Matters on which we are required to report by exception

We have nothing to report in respect of the following matters in relation to which the Charities Act 2011 requires us to report to you if, in our opinion:

Responsibilities to the trustees

As explained more fully in the trustees’ responsibilities statement, the trustees 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 they determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the trustees are responsible for assessing the Charity’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 liquidate the Charity or to cease operations, or have no realistic alternative but to do so.

Auditor’s responsibilities for the audit 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 auditor’s 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.

Our approach to identifying and assessing the risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, was as follows:

8

BRISTOL AND ANCHOR ALMSHOUSE CHARITY

INDEPENDENT AUDITOR’S REPORT

YEAR ENDED 31 MARCH 2025

Our audit procedures in relation to fraud included but were not limited to:

There are inherent limitations in our audit procedures described above. The more removed that laws and regulations are from financial transactions, the less likely it is that we would become aware of noncompliance. Auditing standards also limit the audit procedures required to identify non-compliance with laws and regulations to enquiry of the directors and other management and the inspection of regulatory and legal correspondence, if any. Material misstatements that arise due to fraud can be harder to detect than those that arise from error as they may involve deliberate concealment or collusion.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council’s website at www.frc.org.uk/auditors/audit-assurance-ethics/auditorsresponsibilities-for-the-audit. This description forms part of our auditor’s report.

Use of our report

This report is made solely to the Charity’s trustees, as a body, in accordance with section 144 of the Charities Act 2011 and the regulations made under section 154 of the Act. Our audit work has been undertaken so that we might state to the Charity’s trustees those matters we are required to state to them 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 charity’s trustees as a body, for our audit work, for this report, or for the opinions we have formed.

Burton Sweet Limited Statutory Auditor The Clock Tower 5 Farleigh Court Old Weston Road Flax Bourton Bristol BS48 1UR

Date:………………………………….. 18 December 2025

Burton Sweet Limited is eligible for appointment as auditor of the charity by virtue of its eligibility for appointment as auditor of a company under section 1212 of the Companies Act 2006.

9

BRISTOL AND ANCHOR ALMSHOUSE CHARITY

STATEMENT OF FINANCIAL ACTIVITIES

YEAR ENDED 31 MARCH 2025

==> picture [463 x 316] intentionally omitted <==

----- Start of picture text -----
Unrestricted Restricted Endowment Total Funds Total Funds
Funds Funds Funds 2025 2024
Note £ £ £ £ £
Income and endowments from:
Donations and legacies 2 3,325 - - 3,325 7,313
Charitable activities 3 313,033 - - 313,033 271,908
Other trading activities 4 5,058 - - 5,058 6,496
Investments 5 11,630 - - 11,630 14,430
Other income 2,691 - - 2,691 -
Total income 335,737 - - 335,737 300,147
Expenditure on:
Raising funds 6 7,044 - - 7,044 7,993
Charitable activities 7, 8 311,672 - - 311,672 305,827
Total expenditure 318,716 - - 318,716 313,820
Net gains/(losses) on investments 13 40,936 1,520 (200) 42,256 78,894
Net income/(expenditure) 57,957 1,520 (200) 59,277 65,221
Transfers between funds 16 (8,800) - 8,800 - -
Net movement in funds 49,157 1,520 8,600 59,277 65,221
Total funds at 1 April 16 1,825,506 21,889 1,649,420 3,496,815 3,431,594
Total funds at 31 March 16 1,874,663 23,409 1,658,020 3,556,092 3,496,815
----- End of picture text -----

The charity has no recognised gains or losses other than the results for the year as set out above.

All of the activities of the charity are classed as continuing.

The comparative funds are set out in note 18.

The notes on pages 12 to 22 form part of these financial statements

_________________

10

BRISTOL AND ANCHOR ALMSHOUSE CHARITY

BALANCE SHEET

AS AT 31 MARCH 2025

Note
Fixed assets
Tangible assets
12
Investments
13
2025
2024
£
£
2,505,857
2,497,285
1,016,462
989,920
Current assets
Debtors
14
Cash at bank
3,522,319
3,487,205
16,059
12,657
39,019
25,216
Creditors : Amounts falling due
within one year
15
55,078
37,873
(21,305)
(28,263)
Net current assets 33,773
9,610
Net assets 3,556,092
3,496,815
Funds
Endowment funds
17
Restricted funds
17
Unrestricted funds
General funds
17
Cyclical maintenance fund
17
Revaluation reserve
17
1,658,020
1,649,420
23,409
21,889
847,125
1,097,968
300,000
-
727,538
727,538
3,556,092
3,496,815

Approved by the Trustees on ….......................... and signed on their behalf by:18 December 2025

Ann Smith

Richard Jarratt

The notes on pages 12 to 22 form part of these financial statements

_________________

11

BRISTOL AND ANCHOR ALMSHOUSE CHARITY

NOTES TO THE FINANCIAL STATEMENTS

YEAR ENDED 31 MARCH 2025

1 Accounting policies

Basis of preparation

Bristol & Anchor Almshouse is a registered unincorporated charity under the Charities Act 2011 (registered number 1075673), and is registered with the Tenant Services Authority as a registered provider (number A4256).

The financial statements have been prepared in accordance with the historical cost convention (except where otherwise stated in the accounting policy note) and in accordance with the Statement of Recommended Practice: Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) issued in October 2019, and the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102), and the Charities Act 2011.

The accounts (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 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) issued in October 2019 rather than the Accounting and Reporting by Charities: Statement of Recommended Practice effective from 1 April 2005 which has since been withdrawn.

The Trustees consider that there are no material uncertainties about the charity's ability to continue as a going concern. The housing units are fully occupied and there is a waiting list. The Beehive Centre is operating at near to capacity. Income and expenditure are under control. In the opinion of the Trustees, the charity has sufficient reserves to be able to meet any challenges.

The charity is a public benefit entity as defined under FRS102.

Income

Income is recognised in the Statement of Financial Activities (SOFA) on a receivable basis, when a transaction or other event results in an increase in the charity's assets or reduction in its liabilities and only when the charity has legal entitlement, the income is probable and can be measured reliably.

Income subject to terms and conditions which must be met before the charity is entitled to the resources is not recognised until the conditions have been met.

Rental income is recognised in the month it falls due. Unpaid rent is accounted for in debtors and any rents received in advance are accounted for as deferred income.

Dividend income is recognised when it has been received by the charity's fund manager.

Expenditure

Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that settlement will be required and the amount of the obligation can be measured reliably.

All expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all costs relating to the category.

Governance costs are those incurred in connection with administration of the charity and compliance with constitutional and statutory requirements. Governance costs are included within charitable activity support costs.

Expenditure on raising funds consists of investment management fees in respect of the investments held.

_________________

12

BRISTOL AND ANCHOR ALMSHOUSE CHARITY

NOTES TO THE FINANCIAL STATEMENTS

YEAR ENDED 31 MARCH 2025

1 Accounting policies (continued)

Allocation of costs

Direct costs that are specifically related to an activity are allocated to that charity. Shared direct costs and support costs are apportioned between activities.

The basis of apportionment, which is consistently applied, and proportionate to the circumstances is:

Staffing - on the basis of time spent in connection with any particular activity.

Premises related costs - on the proportion of floor are occupied by a particular activity.

Non specific support costs - on the basis of the usage of resources, in terms of time taken, capacity used, request made or other measures.

Fixed asset investments

Fixed asset investments in quoted shares, traded bonds, investment properties are shown at their market value at the balance sheet date at the end of the financial period. The Statement of Financial Activities includes net gains and losses arising on revaluations and disposals throughout the year.

Tangible fixed assets

Tangible fixed assets are measured at their original cost value, or subsequent revaluation. Cost value includes all costs expended in bringing the asset into its intended working condition. Capital items with purchase price of more than £200 are included within fixed assets.

Deprecation has been provided at the following rates in order to write off the assets to their anticipated residual value over their estimated useful life.


their estimated useful life.
Freehold property No depreciation charged (see note 12)
Leasehold improvements 10% straight line
Plant and machinery 10% straight line
Motor vehicles 20% straight line
Computer equipment 25% straight line

Old Almshouse building, St John's House, and the new Bristol and Anchor House are classed as freehold property per the financial statements. The trustees of the charity carry out an impairment review where there are indicators of possible impairment.

Freehold property is subject to a policy of professional revaluation every 7 years.

Debtors

Debtors are measured at their recoverable amounts at the balance sheet date.

Cash at bank balances

Cash held by the charity is included at the amount actually held and counted at the year end. Bank balances, whether in credit or overdrawn, are shown at the amounts properly reconciled to the bank statements.

Creditors and provisions

A creditor and provision are recognised when there is a legal or constructive obligation as a result of a past event and it is probable that an outflow of economic benefits will be required to settle the obligation.

Pensions - defined contribution scheme

The charity operates a defined contribution pension scheme. Contributions are charged to the Statement of Financial Activities in accordance with FRS102.

Any liabilities and assets associated with the scheme are shown under debtors and creditors.

Taxation

The charity is exempt from corporation tax on its charitable activities.

_________________

13

BRISTOL AND ANCHOR ALMSHOUSE CHARITY

NOTES TO THE FINANCIAL STATEMENTS

YEAR ENDED 31 MARCH 2025

1 Accounting policies (continued)

Funds

General funds are unrestricted funds available for use at the discretion of the Trustees in the furtherance of the charitable purposes of the charity.

Designated funds form part of unrestricted funds and have been identified as being for particular purposes by the Trustees. They are not restricted and can be transferred to general funds at any time at the discretion of the Trustees.

Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes. Expenditure which meets these criteria is charged to the fund.

Permanent endowment funds are resources received by the charity that represent capital. A feature of endowment funds is that charity law requires the trustees to invest or retain the funds for the charity’s purposes. The term endowment applies to permanent endowment, where the trustees have no power to convert it into income and apply it.

2 Income from: donations

Donations and gifts
Grants
Unrestricted
Restricted
Endowment
Total Funds
Total Funds
Funds
Funds
Funds
2025
2024
£
£
£
£
£
355
-
-
355
2,813
2,970
-
-
2,970
4,500
3,325
-
-
3,325
7,313

Income from donations in the prior year was unrestricted.

3 Income from: charitable activities

Provision of housing accommodation
Beehive day centre
Unrestricted
Restricted
Endowment
Total Funds
Total Funds
Funds
Funds
Funds
2025
2024
£
£
£
£
£
241,814
-
-
241,814
212,984
71,219
-
-
71,219
58,924
313,033
-
-
313,033
271,908

Income from charitable activities in the prior year was unrestricted.

Solar panel income
Other
Unrestricted
Restricted
Endowment
Total Funds
Total Funds
Funds
Funds
Funds
2025
2024
£
£
£
£
£
5,058
-
-
5,058
4,686
-
-
-
-
1,810
5,058
-
-
5,058
6,496

Income from other trading activities in the prior year was unrestricted.

_________________

14

BRISTOL AND ANCHOR ALMSHOUSE CHARITY

NOTES TO THE FINANCIAL STATEMENTS

YEAR ENDED 31 MARCH 2025

5 Income from: investments

Dividend income Unrestricted
Restricted
Endowment
Total Funds
Total Funds
Funds
Funds
Funds
2025
2024
£
£
£
£
£
11,630
-
-
11,630
14,430
11,630
-
-
11,630
14,430

Income from investments in the prior year was unrestricted.

6 Expenditure on: raising funds

Investment management costs Unrestricted
Restricted
Endowment
Total Funds
Total Funds
Funds
Funds
Funds
2025
2024
£
£
£
£
£
7,044
-
-
7,044
7,993
7,044
-
-
7,044
7,993

Expenditure on raising funds in the prior year was unrestricted.

7 Expenditure on: charitable activities (by cost)

Beehive day centre
Wages and salaries
Pension contributions
Rent, rates and water
Insurance
Electricity and gas
Office and similar costs
Security, out of hours warden
Almshouse repairs and renewals
Cleaning
Gardening and site maintenance
Beehive repairs and renewals
Legal and professional
Bank charges
Depreciation
Governance costs
Unrestricted
Restricted
Endowment
Total Funds
Total Funds
Funds
Funds
Funds
2025
2024
£
£
£
£
£
39,451
-
-
39,451
28,867
82,260
-
-
82,260
75,129
5,777
-
-
5,777
9,258
6,560
-
-
6,560
5,726
8,769
-
-
8,769
8,574
23,000
-
-
23,000
30,574
25,080
-
-
25,080
24,825
1,800
-
-
1,800
1,648
21,977
-
-
21,977
35,758
13,775
-
-
13,775
11,151
14,694
-
-
14,694
10,757
7,276
-
-
7,276
7,537
4,305
-
-
4,305
3,648
248
-
-
248
268
40,406
-
-
40,406
37,877
16,294
-
-
16,294
14,230
311,672
-
-
311,672
305,827

Expenditure on charitable activities in the prior year was unrestricted.

8 Expenditure on: charitable activities (by activity)

Provision of housing accommodation
Beehive Day Centre
Activities
Support
undertaken
costs
Total Funds
directly
(note 9)
2025
£
£
£
215,274
48,127
263,401
39,451
8,820
48,271
254,725
56,947
311,672

_________________

15

BRISTOL AND ANCHOR ALMSHOUSE CHARITY

NOTES TO THE FINANCIAL STATEMENTS

YEAR ENDED 31 MARCH 2025

Provision of housing accommodation
Beehive Day Centre
9
Support costs
Bank charges
Depreciation
Governance costs
Trustees training and development
Auditor's fee
Support costs in the prior year were unrestricted.
10 Net income/expenditure for the year
This is stated after charging:
Auditor's fee:
Audit fee
Other services
Depreciation
Trustees' and connected persons' remuneration
Reimbursement of Trustees' expenses
11 Staff costs and numbers
The aggregate payroll costs were:
Wages and salaries
Employer's pension
Activities
undertaken
directly
£
224,585
28,867
253,452
Unrestricted
Restricted
Endowment
Funds
Funds
Funds
£
£
£
248
-
-
40,405
-
-
2,625
-
-
13,669
-
-
56,947
-
-
Support
costs
Total Funds
(note 9)
2024
£
£
46,410
270,995
5,965
34,832
52,375
305,827
Total Funds
Total Funds
2025
2024
£
£
248
268
40,405
37,877
2,625
-
13,669
14,230
56,947
52,375
2025
2024
£
£
9,600
10,560
4,069
3,670
40,406
37,877
-
-
-
-
2025
2024
£
£
82,260
75,129
5,777
9,258
88,037
84,387

The average weekly number of employees, based on headcount during the year, was 5 (2024: 5).

No employee received employment benefits of more than £60,000 in the current or preceding year.

The key management personnel of the charity includes the Trustees and the Clerk . The employment benefits paid to key management were £19,383 (2024: £17,647).

_________________

16

BRISTOL AND ANCHOR ALMSHOUSE CHARITY

NOTES TO THE FINANCIAL STATEMENTS

YEAR ENDED 31 MARCH 2025

12 Tangible fixed assets
Cost
At 1 April 2024
Additions
Disposals
At 31 March 2025
Depreciation
At 1 April 2024
Charge for the year
Elimination on disposal
At 31 March 2025
Net book value
At 31 March 2025
At 31 March 2024
Housing Properties
Land &
Buildings
£
2,270,000
-
-
2,270,000
-
-
-
-
2,270,000
2,270,000
Leasehold
Plant &
Improvements
Machinery
Total
£
£
£
152,207
543,911
2,966,118
12,820
36,158
48,978
-
(265,937)
(265,937)
165,027
314,132
2,749,159
38,878
429,955
468,833
16,355
24,051
40,406
-
(265,937)
(265,937)
55,233
188,069
243,302
109,794
126,063
2,505,857
113,329
113,956
2,497,285
Bristol &
St John's
Anchor
House
House
Total
£
£
£
645,000
1,625,000
2,270,000

The properties were originally valued in April 2001 by Alder King, property consultants, on the basis of the open market value.

The properties have not been depreciated as the trustees consider that the depreciation would be immaterial on the basis of the properties', high intrinsic value. The properties have not been impaired in any respect.

The properties were revalued by RD Harrison of Alder King Property Consultants, an independent valuer, at 31st March 2021 on the basis of Fair Value.

The original cost of the properties was £1,542,462 and a social housing grant of £253,000 was received.

In the calculation of historical cost it has been assumed that one third of the value of the properties is attributable to land.

Housing Stock
The number of housing units in management at 31 March was:
Housing accommodation for letting
2025
2024
No.
No.
22
22

_________________

17

BRISTOL AND ANCHOR ALMSHOUSE CHARITY

NOTES TO THE FINANCIAL STATEMENTS

YEAR ENDED 31 MARCH 2025

==> picture [463 x 620] intentionally omitted <==

----- Start of picture text -----
13 Fixed asset investments
2025 2024
Listed investments £ £
At 1 April 2024 967,142 919,718
Acquisitions at cost 245,485 239,859
Proceeds on disposal (248,013) (271,329)
Net gain/(loss) on revaluation 42,251 78,894
At 31 March 2025 1,006,865 967,142
Cash or cash equivalents 9,597 22,778
1,016,462 989,920
14 Debtors
2025 2024
£ £
Trade debtors 5,486 4,557
Prepayments 8,000 8,100
Other debtors 2,573 -
16,059 12,657
15 Creditors: amounts falling due within one year
2025 2024
£ £
Trade creditors 2,444 1,937
Accruals and deferred income 15,619 24,620
Other creditors 3,242 1,706
21,305 28,263
16 Movement in funds
At 01 April Gains / At 31 March
2024 Income Expenditure Transfers (losses) 2025
£ £ £ £ £
Endowment funds
Property Endowment Funds 1,106,387 - - - - 1,106,387
Parochial Charities 8,322 - - - (92) 8,230
Sermons Charity 2,309 - - - (108) 2,201
Margaret Tindall's Charity 214,602 - - - - 214,602
Bristol Archdeaconry Charities
Capital Sum 133,000 - - - - 133,000
Recoupment Fund 184,800 - - 8,800 - 193,600
1,649,420 - - 8,800 (200) 1,658,020
Restricted Funds
Extraordinary repair 21,889 - - - 1,520 23,409
21,889 - - - 1,520 23,409
Unrestricted Funds
General funds 1,097,968 335,737 (318,716) (308,800) 40,936 847,125
Cyclical maintenance fund - - - 300,000 - 300,000
Revaluation reserve 727,538 - - - - 727,538
1,825,506 335,737 (318,716) (8,800) 40,936 1,874,663
Total funds 3,496,815 335,737 (318,716) - 42,256 3,556,092
----- End of picture text -----

_________________

18

BRISTOL AND ANCHOR ALMSHOUSE CHARITY

NOTES TO THE FINANCIAL STATEMENTS

YEAR ENDED 31 MARCH 2025

16 Movement in funds ( continued )

Prior year comparatives

Endowment funds
Property Endowment Funds
Parochial Charities
Sermons Charity
Margaret Tindall's Charity
Bristol Archdeaconry Charities
Capital Sum
Recoupment fund
Restricted Funds
Extraordinary repair
Unrestricted Funds
General Funds
Revaluation reserve
Total funds
At 01 April
Gain and
At 31 March
2023
Income Expenditure
Transfers
losses
2024
£
£
£
£
£
1,106,387
-
-
-
-
1,106,387
7,901
-
-
-
421
8,322
2,115
-
-
-
194
2,309
214,602
-
-
-
-
214,602
133,000
-
-
-
-
133,000
176,000
-
-
8,800
-
184,800
1,640,005
-
-
8,800
615
1,649,420
20,564
-
-
-
1,325
21,889
20,564
-
-
-
1,325
21,889
1,043,487
300,147
(313,820)
(8,800)
76,954
1,097,968
727,538
-
-
-
-
727,538
1,771,025
300,147
(313,820)
(8,800)
76,954
1,825,506
3,431,594
300,147
(313,820)
-
78,894
3,496,815

Description and purpose of funds

Unrestricted general funds

These funds are held for meeting the objectives of the charity, and to provide reserves for future activities and, subject to charity legislation, are free from all restrictions on their use.

Unrestricted revaluation reserve

This fund represents the unrestricted surplus arising on the revaluation of the charity's assets.

Cyclical maintenance fund

This fund represents maintenance and similar costs that recur in a multi-year cycle. Examples are 5 yearly re-painting of the doors, window and frames, approx. 8 year replacement of gas boilets in the flats, and 25 year replacement of kitchens, bathrooms and floor coverings. The fund was created as a result of a Stock Condition report in November 2024, identifying £330,000 of upcoming repairs and renewals over the following several years.

Extraordinary repair

The Extraordinary Repair Fund is a restricted income fund and is a requirement of the Charity Commission Scheme of 16 Nov 1998. The fund is to finance the "extraordinary repair, improvement or rebuilding of the almshouses and other

It is funded by 191 NAACIF Accumulation units, value £23,409 (2024: £21,889).

_________________

19

BRISTOL AND ANCHOR ALMSHOUSE CHARITY

NOTES TO THE FINANCIAL STATEMENTS

YEAR ENDED 31 MARCH 2025

16 Movement in funds (continued)

Property Endowment Funds

The Property Endowment Funds represent capital sums given to the charity and currently held in the form of Almshouse properties which facilitate the charity's ongoing work.

These funds originated from mergers of Ambrose Charity, Hill's Almshouses Charity, Whitson Street Almshouse Charity with the Bristol and Anchor Almshouse Charity, and a further capital grant from the Anchor Society.

Parochial Charities and the Sermons Charity Endowment Funds

These were received as investments in NAACIF and COIF units and the Trustees are currently investigating the nature and purpose of these funds in order to determine their future application.

Margaret Tindall's Charity Endowment Fund

In 2001 Margaret Tindall's Charity Endowment Fund was received as a portfolio of investments valued at £201,991.

Having been unable to separate the investment assets to determine the value of this fund over the years, the Trustees took advice and decided in June 2020 that it was reasonable to fix the value of the Margaret Tindall Charity fund at a value of £214,602, with the income being applied for the ongoing work of the charity. These funds remain part of the capital of the charity and only the income can be spent.

Bristol Archdeaconry charities

Capital sum endowment and Recoupment Fund

The Bristol Archdeaconry Charity capital sum is a commuted capital sum. Bristol & Anchor Almshouse charity was entitled to receive 20% of the income from the St John and St Peter Church Lands Charity. The Trustees of the Bristol Archdeaconry Charities, who administered the St John and St Peter Church Lands Charity, approached the Charity Commission, with a view to restricting the charity. As a result of this decision, Bristol & Anchor Almshouse charity received a commuted sum of £353,000.

£220,000 of the £353,000 capital sum was applied to repaying a mortgage taken out to build the 14 new Almshouse flats. The £220,000 capital sum is being recouped at £8,800 pa for 25 years via a Recoupment fund.

_________________

20

BRISTOL AND ANCHOR ALMSHOUSE CHARITY

NOTES TO THE FINANCIAL STATEMENTS

YEAR ENDED 31 MARCH 2025

17 Analysis of net assets between funds

Unrestricted Funds
General Funds
Cyclical maintenance fund
Revaluation reserve
Restricted Funds
Extraordinary repair
Endowment funds
Property Endowment Funds
Parochial Charities
Sermons Charity
Margaret Tindall's Charity
Bristol Archdeaconry Charities Capital Sum
Recoupment fund
Prior year comparatives
Unrestricted Funds
General Funds
Revaluation reserve
Restricted Funds
Extraordinary repair
Endowment funds
Property Endowment Funds
Parochial Charities
Sermons Charity
Margaret Tindall's Charity
Bristol Archdeaconry Charities Capital Sum
Recoupment fund
Net
Tangible
current
fixed assets
Investments
assets
Total
£
£
£
£
671,932
441,420
(266,227)
847,125
-
-
300,000
300,000
727,538
-
-
727,538
-
23,409
-
23,409
1,106,387
-
-
1,106,387
-
8,230
-
8,230
-
2,201
-
2,201
-
214,602
-
214,602
-
133,000
-
133,000
-
193,600
-
193,600
2,505,857
1,016,462
33,773
3,556,092
Net
Tangible
current
fixed assets
Investments
assets
Total
£
£
£
£
663,360
424,998
9,610
1,097,968
727,538
-
-
727,538
-
21,889
-
21,889
1,106,387
-
-
1,106,387
-
8,322
-
8,322
-
2,309
-
2,309
-
214,602
-
214,602
-
133,000
-
133,000
-
184,800
-
184,800
2,497,285
989,920
9,610
3,496,815

_________________

21

BRISTOL AND ANCHOR ALMSHOUSE CHARITY NOTES TO THE FINANCIAL STATEMENTS

YEAR ENDED 31 MARCH 2025

18 Prior year fund comparatives for the Statement of Financial Activities

Income and endowments from:
Donations and legacies
Charitable activities
Other trading activities
Investments
Total income
Expenditure on:
Raising funds
Charitable activities
Total expenditure
Net gains/(losses) on investments
Net income/(expenditure)
Transfers between funds
Net movement in funds
Total funds at 1 April
Total funds at 31 March
Unrestricted
Restricted Endowment
Total Funds
Funds
Funds
Funds
2024
£
£
£
£
7,313
-
-
7,313
271,908
-
-
271,908
6,496
-
-
6,496
14,430
-
-
14,430
300,147
-
-
300,147
7,993
-
-
7,993
305,827
-
-
305,827
313,820
-
-
313,820
76,954
1,325
615
78,894
63,281
1,325
615
65,221
(8,800)
-
8,800
-
54,481
1,325
9,415
65,221
1,771,025
20,564
1,640,005
3,431,594
1,825,506
21,889
1,649,420
3,496,815

19 Related party transactions

There are no related party transactions in the year (2024: nil).

_________________

22

MANAGEMENT INFORMATION YEAR ENDED 31 MARCH 2025

BRISTOL AND ANCHOR ALMSHOUSE CHARITY

The following page(s) do not form part of the statutory financial statements which are the subject of the independent auditor's report on pages 7 to 9.

_________________

23

BRISTOL AND ANCHOR ALMSHOUSE CHARITY

ALMHOUSES AND BEEHIVE CENTRE INCOME AND EXPENDITURE

YEAR ENDED 31 MARCH 2025

2024-25 Actual Almshouses Beehive Centre
WMC Income and Similar
Weekly Management Charges 241,814 241,814 -
Other Income 10,802 4,786 6,016
Total WMC Income and Similar 252,616 246,600 6,016
Beehive Events Income and Expenditure
Beehive income from events 71,217 - 71,217
Beehive cost of events 28,294 2,588 23,118
Net Beehive Income and Expenditure 45,511 (2,588) 48,099
Professional Fees and similar
Legal and Professional fees 17,974 17,974 -
Total Professional Fees and similar 17,974 17,974 -
Administrative Costs
Office Costs
Salaries, E'er NI, Pension 88,038 36,713 51,325
Staff Travel, Training, etc. 7,141 6,704 437
Fire, Perils, Liability Insurance 8,769 5,685 3,084
Office Costs - Phone, IT, etc. 9,473 3,413 6,060
Annual Subs - Almshouse Assn, etc 4,316 1,719 2,597
Total Office Costs 117,737 54,234 63,503
Buildings and Site Costs -
Repairs & Renewals- Almshouses 21,682 21,682 -
Repairs & Renewals- Beehive 7,572 7,572
Statutory compliance - H&S, etc. 7,889 7,837 52
Gas & Electricity 35,077 22,059 13,018
Income from Solar Panels (5,058) (5,058) -
Security, Gardening, Cleaning, etc. 31,020 18,837 12,183
Rates, Water, Sewerage 6,560 5,554 1,006
Total Buildings and Site Costs 104,742 70,911 33,831
Bank Charges 248 82 166
Depreciation 40,405 24,051 16,354
Total Administrative Costs 263,132 149,278 113,854
Total Overheads 281,106 167,252 113,854
Gains/(Losses) on Investments
Gains/(Losses) on revaluation of
Quoted Investments 42,256 42,256 -
Surplus/(Deficit) for Period 59,277 119,016 (59,739)

_________________

24

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