Registgr9d number,. 06789361 R•gulator For Soclal Houslng Rgglstratlon Numb•r: A1834 OLD BEN HOMES LIMITED (A company Ilmlted by guarantee) UNAUDITED BOARD'S REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025 WR Partners Protecting your future.
OLD BEN HOMES LIMITED {A company Ilmitèd by guarantee) ASSOCIATION INFORMATION Board R. Tredwin (Chaimanl ICI T. Lunn ICI IresvJned 1 May 2025) J. Buckley INI J. Frumin ICI C. Fletcher ICI {resuned 1 May 20251 l. Jones INI A. Roberts ICI S. Pringle ICI A Harrigan INI J Wren ICI lappoinled 1 May 20251 IC) denotes a Co-oplative Board Member Registered number 06789361 Registered offlce 33 The Old Hall Church Road Lilleshall Shropshire TF10 9JA Accountants WR Partners Chartered Accountants Belmont House Shrewsbury Business Park Shrewsbury Shropshire SY2 6LG Housing Manager Angela Farrant Charlty commlsylon registration number 1127979 Homes & Communitie$ agency registration number A1843
OLD BEN HOMES LIMITED IA ¢ompony Ilmited by guarantee) CONTENTS Page Board's report Directors. statement Accountants, report Income and expendUre account Balance sheet Statement of cash flows 10 Notes to the financial statgments
OLD BEN HOMES LIMITED IA company limited by guarantee) BOARDS, REPORT FOR THE YEAR ENDED 31 DECEMBER 2025 The Board present their report 2nd the financial stslemen15 for the year ended 31 December 2025. Status of assoclation The Association is a Regisleied Social Housing PrDvider (reference A18431 under the Housing and Regeneration Act 2008. a Registered Charity Icharily numbei 11279791 and a Company Limited by Guarantee established under the Companies Act (company number 067893611. Structure, governance and management The AssDcialion is governed by rts Memorandum and Articles of Association. 11 con515ts of the charitable company which is the managing trustee of a linked unincorporated charrty with the beneficial ownership of the permanent endowment Irefer lo note 131. The Board will con5151 of not less than three and not more than eleven Directors. Nominative Directo There shall not be more than five such Directors The Nominative Directors shall be appointed by the Board of Trustees of the NewslrAid Benevolent Fund (charity number 11168241 for a term ol three years. Co-oplative DirgGlors There sh311 not be more than Six such Directors. The power of appointment is by a resolution of the Members for a term of three years. On appoinlmenl, thè Director is given a CDPY of the goveming documents of the Asso¢ialion and L)f the Charty Commission publication CC3 'The Essential Trustee,. The Directors of the As50cialion lake Such action as they consider necessary lo keep themselves informed of changes in relevant law and gDvernan¢e. They receive regular newsletters on charity law developments. All mallers of policy and decisions are determined by the Board who rneel al least bNice annualty. The day to day management of the Assoeialion Is delegated to the Housing Manager. Principal activities The principal activity continues lo be the provision of accommodation for needy persons andlor Iheir spouses and dependants, who In their lifetime were engaged in the distribution Df newspapers. magazines and periodicals as members of the publishing, wholesaling or retailing sections of the newspaper Industry. Public benefit The Board have Considered the revised guidance issued by the Charity Commission on "Charitiès and Public Benefit The objects of the Association Clear Come within the descriptions of charitable purposes as set Dul in the CharlieS Act 2011 and there are identifiable benefits from th& provision of housing al affordable rates. Investment policy The Association's cashflow forecasts continue to show that the Association will generate cash from ils operating activities in order to fund future developments and major repair projects. The Assoc12tion's Investment Policy is presently to hold surplus funds in instant access accounts. In the short lo medium term the Inv&stment Policy wll be reviewed to obtain more favourable returns with minimal risk. Page 1
OLD BEN HOMES LIMITED {A company limited by guarantee) BOARDS, REPORT FOR THE YEAR ENDED 31 DECEMBER 202S Weekly Maintenance Contribution IWMCI policy The Association's policy 15 to charge WMC al levels that are affordable and reflect the quality of the accommodation providèd. All WMC increases for the year 202412025 were wthin the Homes & Communities Agency's recommendations. Long term stock maintenance repair policy The Association's policy is to maintain its housing stock lo the highest possible standards, thereby ensuring both staff and resident safely. Each financial year a detailed plan is drawn up, which Is included in th2 budgets, and this is monitored by senior management lo ensure all appropriate repairs are carried out. General repairs a the responsibil(ty of the sile manager and are carried out on a day lo day basis when required. The performance of the contractors carrying out these repairs are constantly reviewed lo ensure value for money. Reserves pollcy Total funds held by the Associalion al the balance Sheet dale are £986.115 12024." £887,287). Of these, endowed funds are £255.13312024. £238.3401 and free reserves are £629.85312024". £533,642). The Association needs a sufficient level of frtte reserves in order lo meet expenses payable in the following year and with due ¢onsid&ration as to possible conlingenl repair WDrk. The res&tve5 policy is reviewed regularw by the Board. Rlsk management The Board have assessed the major risks lo which the A550cialion is exposed, in particular those related lo the operations and finan¢es of the Association. and are satisfied that the systems and procedure5 are in place lo managè exposure to the major risks. The Board are satisfied Ihal adequate syslerlls are in place lo detect and minimis& the main strategic business and operational risks which the Association may lace. The Board consider that a major risk lo which the Association Is subject is the possibility of voids, however the man8gemenl team Is cornrnilled lo ensuring that the length of time between a property becoming vacant and being let Is minimal. In the CLJrrent economic climate there Is sufficient demand should vacancies occur. ObjectNe and activities The key objective for the Board is lo provide quality accommodation. which is safe and secure for ils residents. al an affordable c051. The principal activity continues lo be the provision ol accommodation Main for needy persons andlor their spouseslpartner5 and dependanls. who In their lrfetime were engaged in the distribution of newspapers. magazines and periodicals as members of the publishing, wholesaling or retailing sections of the industry. The Board have considered the guidance issued by the Charity Commission on 'Charilies and Public Benefit.. The objects of the Trust clearly come within the descriptions of charitable purposes as set out in the Charities Act 2011 and Iheie are identifiable benefits from the provision ol housing al affordable prices. The Trustees review the asms and objective and aclwili2s of the Charity at their rneeling5 during the year and confirm that they have regard lo the Charity Commission's guidance on public benefit In planning future activity. Page 2
OLD BEN HOMES LIMITED (A company limited by guarantee) BOARDS. REPORT FOR THE YEAR ENDED 31 DECEMBER 2025 Achlevements and pefftjrniance The surplus for the year was £98,828. £22,641). The number of housing units under management remainect at 78. Future developments The Association intends to continue ils objective of maintaining quality housing units by undertaking various repair work to ensure all housing meet modern stsndards. Future projects include electrical rewiring. which is expected lo cost in excess of £50k. Land and bulldlngs The market value of the land is eslimaled by the Board lo be Substantial different from the book value at the year end. No fDmal valuation has been undertaken however the Board believes that the market value would be considerabty higher. Board The Board who seNed during the year werè.. R. Tredwin ICh8imanl ICI A. Harrigan IN) T. Lunn ICI (resigned 1 May 20251 J. Buckley INI J. Frumin ICI C. Fletcher ICI (resigned 1 May 20251 l. Jones IN) A. Roberts ICI S. Pringle ICI J Wren ICI (appointed 1 May 20250 (Cl denole5 a Cowoplalive Board Member Pag? 3
OLD BEN HOMES LIMITED (A company Ilmlted by guarantee) BOARDS. REPORT ICONTINUEDI FOR THE YEAR ENDED 31 DECEMBER 2025 Quallfylng thlrd party indemnity provisions In preparing this report, the Boards have tsk8n advantage of the small companies eXeMpOnS provided by sedon 415A of the Companies Act 2006. During the year, the Association maintained liability insurance and third paty indemnification provisions for its 8oard. under which the Association has agreed lo indemnify the Board to the exl&nl permilled by law in respect of all liabilities to third parties arising out of, or in connecllon with. the execution of the powers, duties and responsibilities as Directors of the Association. This report was approved by the board and signed on its beha. R.Tr dwin Chairman Dale.. &141zG P8ge 4
OLD BEN HOMES LIMITED IA company limited by guarantèe DIRECTORS, STATEMENT FOR THE YEAR ENDED 31 DECEMBER 2025 The Board are responsible for preparing the Boards, report and the financial slalemenls in accordance with applicable law and regulations. Company law requires the Board lo prepare financial 5talemenls for each financial year. Under that law the Boards have elected to prepare the financial slalernenls in accordance with apPIable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Praclicel, including Financial Reporting Standard 102 'The Accounting Direction for Piivale Registered Providers of Social Housing in England 2022. Under company law the Boards must not approve the financial slalemenls unless they are satisfied that they give 2 true and fair view ol the slate of affairs of the Association and of the surplus or deficit of the Association for that period. In preparing these financial slalemenls, the Board are required to". select suitable accounting policies for the Association's financial statement5 and then apply them consislenlly., make judgments and accounting eslimales that are reasonable and prudent., prepare the financial statements on the going concern basis Ljnless rt is inappropriate to presume that the Association will continue in business. The Board are responsible for keeping adequate accounting records that are sufficient lo show and explain the Association's transactions and disclose wth reasonable ac¢ura¢y at any time the financial position of Ihe Association and lo enable them lo ensure that the financial slalemenls comply with the Companies Act 2006. They are also responsible for safeguarding the assets Df the Association and hence for taking reasonable steps for the prevention and detèction of fraud and other irregularities. Page 5
OLD BEN HOMES LIMITED IA ¢ompany limited by guarantee) INDEPENDENT REPORTING ACCOUNTANTS, REPORT TO THE BOARD OF BOARDS OF OLD BEN HOMES LIMITED FOR THE YEAR ENDED 31 DECEMBER 2025 In order to assist you to fulfil your duties under the Cornpanies Act 2006, we have prepared for your approval the financial slalemenls of Old Ben Home5 Limrted for the year ended 31 December 2025 which comprise the Slalement c>f comprehensive incDme, the Balance sheet, the Statement of cash flows and the related notes from the Association's accounting records and from Information and explanaliDns you have given us. As a practising member firm of the Institute of Chartered Accountants in England and Vvales IICAEWI. we are subject lo ils ethical and other professional requirements which are detailed al hllps.'IlwthM.icaew.comlregulalion. Respective responsbilities of thè Board and Reporting Accountants The Board of the Registered Social Housing Provider Is responsible for the prep8ration of the accounts, and they Consider that the Registered Social Housing Provider is exempl from an audit. 11 is our responsibility lo carry out procedures designed lo enable us to report our opinion. Basis of opinion OUT procedures consisted of comparing the accounts with the accounting records kept by the Registered Social Housing Provider and making such enquiries of the officers of the Registered Social Housing Provider as we considered necessary for the purpose of this report. These pr(Kedure5 provide the only assurance expressed in our opinion. Opinlon In our opin10n'. The accounts for year ended 31 Decèmber 2025 arè In accordance wrth the accounting records kept by the RIStered Social Housing Provider under p2ragr2ph 13512llal of the Housing and Reg&neration Act 2008., having regard only to. and on the basis of the information contained in the accounting records.. the accounts comply with the requirements of the Charities Act 2011., the Registered Social Housing Provider has satisfied the conditions for exemption from an audit of the accounts for the year ended 31 December 2025 specrfied in section 136131 of the Housing and Regeneration Act 2008, the accounts comply with the requirements of thè Housing and Regeneration Act 2008 and the Accounting Direction for private registered providers of social housing in England 2022. WR Partners Chartered Accountants Belmont House Shrewsbury Business Park Shrewsbury Shropshire SY2 6LG Date. 11 May 2026 Page 6
OLD BEN HOMES LIMrrED (A Gompany Ilmlted by guarantee) STATEMENT OF COMPREHENSIVE INCOME (INCLUDING INCOME AND EXPENDITUREACCOUNT) FOR THE YEAR ENDED 31 DECEMBER 2025 2025 2024 Note Tumover Cost of sales 729,281 674,309 1659.5241 (691.359) Gross profltlllossl Other operating income 69,757 (17,050) 8,872 8,872 Operatlng profitllloss) Interest reIVable and Similar incorne 78,629 20,199 {8, YT8) 30,819 Proftt before tax 98,828 22,641 Tax on profit Proflt for tho Ilnanclal year 98,828 22.641 There wère no recognised gains and losses for 2025 or 2024 other than those included in the staternent of comprehensive income lincludlng income and expenditure account). There was no other comprehensive income for 202512024.'£NILI. The nots5 on pages 11 to 20 form part of these financial stslernents. All amounts r8Iale to continulng operations. R. Tredwin Chairman Date.. Ha rlg 33141202ts Date.. 30 Page 7
OLD BEN HOMES LIMITED IA company Ilmlted by guarantee} REGISTERED NUMBER: 06789361 BALANCE SHEET AS AT 31 DECEMBER 2025 202S 2024 Note Flxed assets Tangible assets 698,S77 704,832 698,577 704,832 Current assets Debtors.. arnounls falling due within one year Cash al bank and in hand 10 11 43,882 614,130 45.504 553.750 658,012 599.254 Creditors.. amounts falling due wrf(hin one year 12 137,0311 (65,612) Net current assets 620.981 533,642 Total a$sg1$1955 Current liabilitios 1,319,558 1,238,474 Creditors.. amounts falling due after more than one year 17 1333,4431 (351, 187} Net assets 986,11S 887,287 Page 8
OLD BEN HOMES LIMITED IA company limited by guarantee) REGISTERED NUMBER: 06789361 BALANCE SHEET ICONTINUEDI AS AT 31 DECEMBER 2025 2025 2024 Note Capital and reserves Permanent endowrnenl reserve Accumulated fund 255,133 730,982 238,340 648,947 986,115 8B7,287 The Charitable Company was enlilled tD exemption from audit under section 4T1 ol the Companies Act 2006 and members have not required the Association to obtsin an audit for the year in question in accordance with section 476 of the Companies Act 2006. The Board acknowledgè their responsibilities for complying with the requirements of th& Companies Act 2006 th respect lo accounting records and the preparation of financial statements. The Association's financial slalemenls have been prepared in accordance with the provisions applicable to companies subject to the small companies regime. The financial stalem&nls were approved and authorised for issue by the board and were signed on its bèhatt on R. Tredwin Ichalrmanj IC) Board arrig Thp notes on pages 11 10 20 form part of these financial stslements. Page g
OLD BEN HOMES LIMITED IA company Ilmited by guarnntse) STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 DECEMBER 2025 2025 2024 Cash flows from operating activities Profil for the financial year Ad5ustments for: Depreciation of tangible asse15 Government grants Interest received 98,828 22,641 67,061 {8,8721 120,199 1,622 146,3251 40.982 (8,8721 f30,879J (17,6761 24,042 Decreasellincreasel in debtors {Decre8sellincre8se in creditors Net cash generate(I from operatlng actlvltles 92,115 30, 298 Cash flows from investing activities Purchase of tangible fixed assets Govemmenl grants received Interest received 160.8061 8,872 20,199 (48, 1261 8,872 30,879 Net cash from Investing activitiès 131,735} (8,435) Net Increase In cash and cash equlvalents Cash and cash eqLiivalents * beginning of year 60,380 21,863 553,073 531,210 Cash and cash equlvalents at the end of year 613,453 553,073 Cash and cash equivalents at the end of year comprise: Cash at bank and in hand Bank overdrafts 614.130 16771 553, 750 (677) 613,453 553,073 Page 10
OLD BEN HOMES LIMITED IA company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025 General infomatlon Old Ben Homes Limited is an Incorporated charity and a privale registered provider of social housing in the Unrted Kingdom. The address of the registered office is given in the Association information page of these financial slalements. The nature of the entity's operations and principal aclivili&s are lo provide accommodation for needy persons andlor their 5pouseslpartneis and dependanls, who In their lifetime were engaged in the distribution of newspapers, magazines and periodicals as members of the publishing, wholesaling or retailing sections of the industry The entity conslilules a public benefit enlily as defined by FRS 102. The financial statements have been prepared in accordance with applicable accounting standards including Financial Reporting Standard 102 The Financial Reporting Standard Applicable in the UK and Republic of Ireland IFRS 1021, the Statement ol Recommended Practice lor Social Housing Providers 2018, and wrth the A¢¢ounting Direction for priv81e registered providers ol Social housing In England 2022. The financial 51alÈrnents are also prepared under the requirements of the Housing and Regener8tion Aet 2008. The financial slalements have been prepared on a going concern basis under the historical cost convention, modified lo include certain items al lair value. The financial slalernenls are prepared In 5teding, which is the functional currency of the entity, and rounded to the nearest £1. The significant a¢¢ounting policies applied in the preparation of these firiancial statements are sel out below. These policies have been Consistent applied to all years presented unless otherwise stated. Accounting policies 2.1 Basis of preparation of financial statements The financial ststements have been prepared under the historical cost convention and in accordance with applicable accounting standards. The following principal accounting policies have been applied.. 2.2 Going concern Al 31 December 2025 no material uncertainties existed that would impact the going concern basis that these financtal slalemenls are prepared upon. 2.3 Turnover Turnover represents maintenance contributions and service charges receivable in the year nel of losses from voids, Supporting People income, revenue grants from local aulhorilies and the Homes and Communities Agency. and disposal proceeds from current asset property disposals. Page 11
OLD BEN HOMES LIMITED IA company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025 Accounting policies Icontinuedl 2.4 Government grant5 Gr8nls are accounlecj under the accrua15 model as permilled by FRS 102. Grants relating lo expendrture on tangible fixed assets are credited lo profit or loss al the same rale as the depreciation on the assets to which the grant relates. The deferred element of grants is included In creditors as deferred ineome. Grants of a revenue nature are recognised in the Ststemenl of comprehensive income In the same peritxl as the related expenditure. 2.5 Pensions The Association operates a defined contribution pension scheme and the pension charge represents the amounts payable by the Association lo the fund in respect of the year. 2.6 Borrowing costs All borrowing costs are re¢oJnised in profil or Ioss in the year in which they are incurred. 2.7 Tangible fixed assets Tangible fixed as5et5 under the cost model are stsled al historical cost less 8ccumulaled depreciation and any accumulated Impaiment losses. Historical Cost includes expenditure that is directly allributable to bringing the asset to the location and condition necessary for il to be capable of operating in the manner Intended by management. Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives. on the following basis". Land and fishing lake Structures Roofs Bathrooms Kitchens Windows Healing systems Electrics Other fixed assets non-depreciable 10/0 straight line 1 OA straight line 5°/0 slraighl line 4Q/o slraighl line 2.50A slraighl line 3.33'/0 Straight line 3.330h straight line 25°A reducing balance The assets, residual values. useful lives and depreciation methods are reviewed. and adjusted prospectively if appropriate. or if there is an IndicaliDn of a significant change since Ihe18sI reporting d81e. Gain5 and losses on disposals are determined by comparing the pro¢eeds with the carrying amount and are rec(nISed in profil or loss. on asse15 costing above the pre-agreed de minimis limit of £200 are capilalised. Page 12
OLD BEN HOMES LIMITED IA company limited by guaranteel NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025 Accounting policiès Icontinuedl 2.8 Works to existing housing properties Expenditure on existing housing properties is capilalised when il Is either capable of generating increased future maintenance conlribulions, extends their useful economic lives or significantly reduces future ma1ntenance costs. All other expenditure in respect of general repairs lo the housing stock Is Charged to the income and expendrture accounts a5 11 is incurred. 2.9 Housing properties Housing properties are principally properties available fDr maintenance contributions and are slated at Cost less any provision for impairment Irepresenling a diminution in the recoverable service potential of the asset below its carrying value in the balance sheell less depreciation. Cost includes the cost of acquiring land and building5, development costs. interest charges incurred during the development and expenditure incurred in respect of improvements. Improvements are works lo existing properties which result in an increase in the net weekly maintenance contributions, includin9 a reduction in maintenance costs or result in a significant extension of Ihe useful economic life of Ihe property. Major cornponenls of housing properties have been accounted for and depreciated separately from the connected housing property, over their &xpected useful economic lives. The disposal proceeds from properties owned oulrighl are included in turnover and the surplus tsr deficit is accounted for in the income and expenditure account of the perK)d in which the disposal occurs as the difference between the nel sale prixeeds and the nel carrying value. 2.10 Impairment All propèrtie5 are considered for impairment annually and detailed reviews of assets lor impairment are carried out il there is an indication that impairment has occurred or if they are not being depreciated. Impairments that are a result of a major reduction in the serwce polenlial of a property a recognised in the income and expenditurè account. ITnpairmenls that reflect general changes In price are. where the property is shown al a valuation, recojnised in the slalement of total recognised surpluses and deficits until the value of the asset falls to depreciated historical cost. Further Impaitmenls. or the full impaitmenl rf the propety has not been revalued, are then recognised in the income and expenditure account. 2.11 Social housing granis S181 Housing Grants ISHGI received as a grant towards revenue expenditure Is matched 2g2inst that expenditure by being included In turnover in the income and expenditLJre a¢count. The related expenditure Is included under operating costs. SHG is recognised in the samè period as the related expenditure provided the conditions foi ils receipt have been satisfied and there is reasonable assurance that the grant will be reived. Page13
OLD BEN HOMES LIMITED {A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025 Accounting policies Icontinuedl 2.12 Provisions Provisions for cyclical maintenance or major works lo existing stock are not made unless they represent commitments or obligations al the balance sheet dale where there is no discretion lo avoid or delay the ttxpendrture. Receipts in advance in respe¢t of agreements lo carry out improvement works on properties on behalf of third parties ale recognised In credrtors unless il is appropri8te lo offset such balances wf(h other balances relating lo the same third party. 2.13 Value Added Tax All amDunls in the financial ststements are shown inclusive of Value Added Tax. 2.14 Reserwes Restricted reseNes are those funds which are only expendable in accordanee wrth the wishes of the funder or regulatory body. Reslricled reserves inclLJde funds hèld by the linked unincorporated charity and are Separately 1denlified. ExpenditLJre cannot be directly sel against reslrrled reserves bul is taken IhroLJgh the in¢omÈ and expenditure account. A transfer from restricted reserves 15 then made as appiopriale. The aims of each restricted reserve is sel out in the notes lo the financial slalemenls. 2.15 Debtors Trade and other debtors are recognised at the selllemenl amount. Prepayments are valued at the amount prepaid. 2.16 Cash and cash equivalents Cash is repiesenled by cash In hand and deposits wilh financial ins111ulions repayable without penatty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the dale ol acquisition and that are readily convertible lo known amounts of cash with insignificant risk of change in valLJe. In the Statement of cash flows. cash and cash equiv21ents are shown net of bank overdrafts that are repayable on demand and form an Integral part of the Association's eash management. 2.17 Creditors Liabilities are recognised when there is an obligation al the Balance sheet dale as a result of a past event. il is probable that a transfer of economic benefit will be required in setllemenl, and the amount of the Settlement can be estimated reliably. Liabilities arè recognised al the amount that the Association anticipates il will pay lo sellle the debt or the amount rt has received as advanced payments lor the setvices il musl provide. Charitable Status The Association is 8 Registered Charty and in consequence il is exwnpl from laxalion on income ansing from and expended on ils charitable aclivilies. Page 14
OLD BEN HOMES LIMITED IA company limitgd by guarantsel NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025 Accountlng policies Icontlnuedl Social Housing Incorne and Expenditure 2025 2024 Weekly maintenance contributions receivable exeluding service SeNice charges receivable So¢Eal housing operating costs 480,200 280.825 1681,2851 437, 178 245,422 (690, 778) Operatlng surplus I Ideficitl 79,740 (8, 178) Void losses 33A97 60,967 Accomodation in Management The average number of Housing Aceommodalion units was 7812024.. 781 and are all provided as housing for older people. Operating surplus The surplus Is slated after charging.. 2025 2024 Depreciation of tangible fixed assets.. owr)ed by the Association Accountancy Fees 49.624 13,714 4Q,982 7,558 63,338 48,540 Page15
OLD BEN HOMES LIMITED IA company limited by guaranteg) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025 Stsff costs Stsff costs were as follows.. 2025 2024 Wages and salaries Social security costs Other pension costs 242,454 19,440 7,928 227,364 15, 655 7,915 269.822 25Q,934 The average monthly number of employee5, Including the Board. during the year was as follows.. 2025 No. 2024 No. Seaford Lilleshall Central Directors. rgmuneration No remuneration was paid to Directors or key management personnel of the Association (2024.. £Nil>. During the year expenses lotalling £4,353 12024-. £3,343) have been paid to officers and key managèment personnel. These expenses all relate lo travel expenses. Page 16
OLD BEN HOMES LIMITED IA company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025 Housing properties at depreciated cost Short-term lèasèhold property Frèehold property Plant and Fixtures and machinery rittings Total Cost or valuation At l January 2025 Additions 913,567 12,997 224,286 60,806 115,933 1,266,783 60,806 At 31 December 2025 913,567 12,997 28S,092 115,933 1,327,589 DepcIatiOfi At 1 January 2025 Charge for the year on owned assets 318,318 149,760 93,873 561,951 12,089 34.815 20,157 67,081 At 31 December 2025 330,407 184,575 114,030 629,012 Net book value At 31 December 2025 583,160 12,997 100,517 1,903 698,577 At 31 Deceinber 2024 595,249 12,997 74,526 22.060 704, 832 The net book value of land and buildings may be further analysed as follows". 2025 2024 Freehold Short leasehold S83,160 12,997 595.249 12,997 596,157 608,246 Page 17
OLD BEN HOMES LIMITED IA company1Smlted by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025 10. Debtors 2025 2024 Trade debtors Prepayments and accrued income 722 43,160 4,997 40.507 43.882 45.504 11. Cash and eash equivalents 2025 2Q24 Cash al bank and in hand Less.. bank overdrafts 614,130 1677} 553. 750 1677J 613,453 553,073 12. Creditors: Amount5 falling due within one year 2025 2024 Bank overdrafts Tr8de creditors Other taxation and social security Other creditors Accruals and deferred income 677 677 667 6,976 13,S07 15,204 557 4,356 12, 148 47,874 37,031 65,612 Page 18
OLD BEN HOMES LIMITED IA company limitèd by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025 13. Reserves Pem)anent endowment Accumulate fund d fund Al 1 January 2025 Surplus for the financial ye2r Transfer between the Permanent endowment and Accumulated funds 238,340 648.947 98.828 (16. 793) 16.793 255,133 730.982 The Permanent endowment fund represent some Df the land and buildings of the linked unincorporated charily and other rèlated fixed assets. Included within the endowment fund Is a grant received from Social Housing and Is repayable in the evenl ol the Association Ceasing ils activities or selling the prDpety. 14. Company status The Association 15 a private company limited by guarantee and consequently does not h8ve share capital. Each of the members Is liable to ¢onlribule an amount not exceeding £1 towards the assets of the Association in the event of liquidation. 15. Reconciliation of movement In members. funds 2025 2024 Opening members, funds Surpluslldeficitl for the financial year B87,287 98,828 864, 646 22,641 986,115 887, 287 16. Capital commitments Al 31 December 2025 therè were no capfial commitments aulhorised or contracted for by the Board members of the Association. Page 19
OLD BEN HOMES LIMITED (A company Ilmltad by guarantsel NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEM8ER 2025 17. Credltors.. Amounts fallino du• aftgr more than one year 2025 2024 Aceruals and deferred income 333.443 351, 187 333,443 351. 187 18. Analysls of changes In net funds At1 January 2025 Cash flows At31 December 2025 Cash at bank and in hand Bank ov¢rdrafts SS3,750 1677} 60,380 614,130 1677) 553.073 60.380 613.453 19. Penslon commltments The Association makes payments lo a defined contribution scheme. The assets of the scheme are held separatew from those of the Association in an independently administered fund. Contributions payable by the Association arnounled lo £7,92812024.. £7,915). All contributions were paid in the year. 20. Related party tr8nsaetion$ Other than those transactions 8laled in Note 8 'Directors' Remuneration,, there We no lated paty transactions in the year. Page 20