Shrewsbury Drapers Holy Cross Limited
incorporating
Shrewsbury Drapers Company Charity
Board Report and Financial Statements
For the year ended 31 December 2023
Homes and Communities registration number. 4809
Company registration number: 07(K)0798
Ch81ity r8gistration number.. 1132671

Shrewsbury Drapers Holy Cross Limltod Incorporatlng Shrewsbury Drapers Company Charlty
Flnanclal Statements
Year Ended 31 December 2023
Conlonts
Page
Registered Social Housing Provider Irrfomiatlon
Board Report
Independent Auditor'8 Rep￿t
Statsmenl of Comprehensive Irthrne
Balance Sheet
11
12
13
Statement of Changes In Reserves
statement of Cash Flows
14
15
Notes to the Financ4al Statements
16-25

Shrewsbury Drapers Holy Cross Umlted Incorporatlng Shrewsbury Drapers Company Charity
Regl$tsr•d Social Housing Provlder
Year Ended 31 December 2023
Members of the Board
Mr A Cross
Mrs J Boyd
Mr R Auger {Retirgd 2112123)
Dr R Hatt8
Mrs C Hc4mes {Rettred 1319123)
Mr B Newman {Retired 1513123)
Mr l Davies
Mr N Prosser {Seuetsry)
Mrs A Thom
Mr R Gough
Mrs G Davies
Mr T Hunt
Mrs N Sykes-waller (Appointed 1513123)
Mr A Barbut (Appointed 2013124)
Mr N Prosser
Reglstsrgd offlce
Draper8 Place
HO￿faIr
Abbey Foregate
shr￿￿bUry
SY2 6BP
Audltor
WR Partners
Belmont Housa
Shrewsbury Business Park
Shrewsbury
Shropshire
SY2 6LG
Sollcltor
Hatchers SolKitors
Welsh Brldge
1 Frankwell
Shrewsbury
Shropshire
SY3
Bankers
Uoyds PLC
Pride Hill Branth
Shrewsbury
Shropshire

Shrewsbury Drapèrs Holy Cross Umlted Incorporating Shrewsbury Drapern Company Charlty
Board Report
Year Ended 31 December 2023
Tho Board of Shrewsbury Draperg Holy Cross Limtt￿l. corp)rale trustee of the linked chariiy, S￿e￿$bUry
Drapers Company Charity present its report and the audtied financral statements of Shrewsbury Draper5 Holy
Cross Limlled for the year ended 31 December 2023.
The Trustees confirm thal the Annual Report and financial statements of the Asscoation Comply wrth the
current Statut￿ requirements, the requirements of the Association's govemlrvj document and th8 provisions
of the Statement of Recommended Practice {SORPI, applicable to Reglstered ￿81 Landk)rds, Housing
SORP 2018, preparlng their accounts in acccrdanca ￿th the Financial Reporting Standard applicable in the
UK and Rewblic of Ireland {FRS 102) {eff￿tIv6 1 January 2015).
Members of tho Board
The memters ofthe Board w￿> have served during tho year are as follows..
Mr A Cross
Mrs J Boyd
Mr R Auger (Retired 2112123)
Dr R Hatts
Mrs C Holmes (Retired 1319123)
Mr B Newman (Retired 1513123)
Mr l Davies
Mr N Prosser ISèer8tary)
Mrs A Thom
Mr R Gough
Mr5 G Davles
Mr T Hunt
Mrs N Sykeg-waller (Appointed 1513123)
Mr A Barbut (Appoint￿1 2013124)
shreWst￿ry Drapor5 Hoty Cross Limited ISDHC Ltd) 18 the corporate trust&e ofshrewsbury Drapers Company
Charity ISDCCI.
Thg (A)jectives of SDHC Ltd and SDCC are to continue to run their almshouses for the benefll of Ihe elderfy
in need ofsupport. 8eneficiaries are ordlnarlly re5id8ntg of Shrewsbury. the Countw of Shropshire and Powys
or have a strong local connection wth the sam8. An assessment of the level of support 1$ made on application
and the most appropriate applicant is ch)sen. The company aims to dev&lop communty SFirlt of mutual
support to prevent loneliness arKI Improve well-being yet encouragin9 independont Itving.
A subsmliary ¢)bject of SDCC is to ¢￿Serve and preserve speclfied historical hems of fumiture and other
artefacts at Drapers Hall, shre￿b￿ry,
In settirKJ objedivos and planning for a¢tiwttes, the Board has given due considerat￿n to the latest guldan
publlshed by the Charity Commission relattng to publlc benefft and to safeguarding.

Shrewsbury Drapers Holy Cross Llmlted Incorporatlng Shrewsbury Drapers Company Charlty
Board Report
Year Endod 31 D8cembor 2023
Mlsslon Statamont
Shrewsbury Drapers Hoty Cross Limited {SDHCI is a regislwed charity and the o)rporate tnjstee of the linkod
charity Shr8wsbury Dra￿[8 Company Charrty.
Our Purpose is to provide safe, comfortable and affordable h￿neS for F￿0￿e in thelr later years.
Ourviwon 15 that SDHC Is a modem. efflcient and effective trnlder of supported hcKJsing communitie5 where..
Resld•nt8 thrive in a saf8 and $9curg envlmnmenl. fr8efrcffn isolatlon and loneliness. They and theirfamilies
recognisa t￿Y get high valu9 for mon8y. rapid response to building repairs or problems, pèriodi
improvements and refurbishrnents, w811-maintslned communal facilities and gardens. assistance, organi58d
meetings and events. and a listening ear.
Shropshire Coundl. Homos England, and rogulators consKier SDHC 8 responsible, profwional
registèr9d housing provider and developer helping to solve Shropshire'5 housing issues.
Dtsnors f881 their money is efficiendy and effectively S￿nt on a worth￿Ile cause.
Community Groups appr8ciate Ihe Inexpensive communlty meeting room with excellent kitchens and AV
facilities.
staff and Volunteers feel valued arKI appreckted, while being given th8 OPPOrtunty to make a real d([re￿n
lo ￿Ople'S lives.
The poople of Shropshlr• ind Powys undersland aThJ value SDHC because of the ben8frts11 brfngs lo the
and th8 SUTroundlng communities.
There is an Alm8hou8es Management Commlttee who oversee th& management oflhe properties and resldent
welfare. The liaison members who visit regularly and other volunteers who make individual vistts such as the
suNeyors are required to undergo Disclogure and Barring Servicg checks. The management of the volunteers
Is through the Ajmshouses Management Commlttee which reports back to the Board. There is a complaints
Fdicy and procedure in place for residents which i8 set out ￿ tho website.
A Manager wns th& office at Dr8pers Placa. and managos the propertw Ind￿ding the community facilty. th8
Bradbury Sulte. There is also a Finance and Admin Officer. There is conSid￿able ￿OrdInatiOn a￿1
cooperation ￿tween the am￿oYeeS and volunteers.
Close re18tlonships L￿1Ween residents and the Manager reflgct the professional and supportive role played by
employee5. Th8 Employees are given guiddines on their roles induding relationships ¥Mth the residents.
These are revlewed every three y&ars.
All the Board members are volunteers.
The Gharity r811es slgnifficantly on voluntaersupport P8rtic#Jlarfy In the management of the almshouses Including
secretarial and clencal work. Based on an analysis of volunteer time completed during the year, the bellefil to
the chafity over the year Is estimated to be 8fouThI £90.000
eratlon
l.0￿UpanCY and Residents
Our almshouses continue to be very popular and are Subjoct to any up￿lIng once they become vacant.
Occupancy is typically in excess of 95%. Demand and enquiries for aceommodatlon r8mains high and any
Va￿ncieS are filled within a relat￿ty short spac8 of thanks to our staff and dlllgent volunteers.

Shrewsbury Draper6 Holy Cross Llmlted Incorporatlng Shrewsbury Drap•rs Company Charity
Board Roport
Year Ended 31 Decembor 2023
2.Prcpety Improvement
Our Draper Surveyor continues lo assess and implement the requ1￿1 property maintenance across all four of
our almshouses siles. The four bungalows at St Gil8s have all had new bathroom windows with the residents
reporting much wamer bathrooms. A new gazebo has also been added to the g8rd8ns at Drapers Place for
our residents lo enjoy during the SLmmer months.
3.Al￿h0use development
Tho proposed devglopmenl of a new Sche￿ at Fairford Place has bgon 8pprov8d by tha planning authorities
in January 2024. The development will consist of a new bl¢)¢k of eight apartrn8nts which will greatty enhance
the offer of accommodatKJn. A refurbishment programm8 of 12 ￿$tIng bBdsits is also pianned to upgrade the
accommcKlation to singlè bedroom apartsnents.
4.Staffing
After the ratirement of our long standing Warden in May 2023 a new member of staff has b8en employed as
a Finan(% and Administration Officer. We continue to monltor our staffing levels wtlh a to our future
needs and the new devglopment at Fairford Place.
The Proportie3
Hospital of the Holy Cross: the fve almshouses were bullt In the mit>181)Js.
Part ofthe land behind the almshouses Is leased to 8 crown green bo￿[ng dub.
Falrford Pla¢e: there are 16 studio flats, bulli In the 1960s, set in 8 qulet location in Coleham, Shrgwsbury
convenlenlly placed near to local shop8 and for walking into town. Planning pèrmission has bgen granted to
replace the fomer Warden's lodge wtth 8 new units. In 8ddition 12 of the studio flats ar& intonded lo be
extensively
altered to
provide
apartrnents
which
meet
currènt thermal performance
requlrements.Improvemenls induding redecoration aThJ rewiring are carrietj out for the remaining 4 Studio flats
as they become vacant.
Hospltal of St Gllos: It￿9 ar8 4 on&bedroom bungalows n8ar St Giles Church set backfrom Wenlo¢k Road,
Shrewsbury.
Drapors Place:
Drapgrs Place contains 21 On&b&lrc￿￿ and 4 tw￿bedrc￿￿1 apartrnents, an office for
8dminislrdlKsn, two lourbg8s for the residents. a hObb￿S r(KJm and the Bradbury Surt8. The Bradbury Suite
comprises a large meeting r￿M %Mth AV facilities 8nd well equipp&l kitchen facilrties. and available for hire
by IoGal people or organisalion&
Newport: There is one remaining Almshouse {of four) at NewporL Whilst this prot*rty is not fully up to tha
standards w8 set in torms of space, Ihe strong preference of the rgmaining resrdenl to remain has been
respected. The resident will continue to enloy full occupancy rKJMs and, recervos regular from Drap8rs.
and support from Ihe adjoining Haberdashers, Adams. Gramm8r School.
Flnanclal ravlew
The fi￿ar￿la1 statements 8r6 prepared on an accruals bxsis arKJ the aC￿UnIS are sutlect to a full audlt r8thef
than an inspection.
For the year to 31 December 2023, the financial statements report￿1 a SLKplus crf £12.816 {2022 deflcit
£159,710)
The net assets at the year-end were £4,040.274 {2022 £4,027,458).
The Board continually assess th8 financial PerfO￿anCe of the cA)mpany wth a detailed sile breakdown of
income and costs. Monthly management accounts compare actual performance against budgetwith a detailed

Shrewsbury Draper6 Holy Cross Umltsd incorporating Shrewsbury Drapors Company Charlty
Board Report
Yéar Ended 31 December 2023
variance analysi5. PerfO￿nanCe metrics are reviewed on both 8 ￿te and historic basts and provide inforrnaliDn
for future planning and budgeling.
Financial perfomiance
New Supply
Gearing
Inte￿1 Cover
Social housing G05t per unit
Operating margin
Retum on Capital Empbyed
2023
2022
20%
245%
£2.091
23%
21%
313%
£3.025
11%
•. Reservos policy
At the end of evgry finarKial year sufficient fvnds arg set asid8 from Income or exlslng flnancL81 assets kn"
a} covgr the cost of the rgpair and the maintenance value of th8 exlslng phys1￿1 assets., and
b> fund other reserves, induding a general reserve. for amounts as may be deemed to be appropriate in
foresgoabl8 GirGumstances.
The minimum level of reserves refiects the propety folio and the Company's mortg48 li8bllty.
F￿e reserves at the Yffar￿nd wer8 £863,616 {2022 £802,208).
b. Materfal Investments poll¢y
Investments are being managed by Brewln DcAphin under an agreed F(slicy of diverstfied risk seekirYJ a tot81
retum from the portfollo of both ￿pital appreaatlon and income yield. Regular revws take pla￿.
c. Rlsk managThnt
The Board examlnes annu8Uy the strategic and operalKJnal risks ￿lch the entity f8ces and confirm that
systems are in place to enabk ￿gular reports lo be prC<luC￿l so that the required steps may be taken to
lessen those risks. They continue lo revtew and improve such systems as may be necessary.
The almshouses are on 5 sites. Each sile is conshjered on an individuol basi5 and where required
Improvements to properties continue.
The Board ha5 hlenlified that potential k)ss in revanue resutting from a lower than Lwupary rate could
put a strain on finances With respect to repayment of the mortgage. The rate of o¢cupan¢y has been highgr
than this year on year for some time, however the minimum level ha8 been set at a pNdent level. The Gurrenl
level of reserve5 is ab)ve this.
Key Obloctivgs For 2024
1. Maintain FinanGial Su5tainabNity
To ck)sety monitor our costs and increase Ixjr in(x)me vA)ere po55ible against a bad<drop of infl8tion and
higher energy costs. Continue to progres8 the review of WMCS wth Shropshire Council.
2. Rgsidgnts
To provido a safe and secure environment resldenl$ to Ilve In a communlty setting wherg their needs
are understcth while maintainlng Independent Ilvlng In thelr own homo.
3.Rgview our perfcymance as an Almshouse provkJ8r agalnst r81gvant Standards.

Shrewsbury Drdpers Holy CTOSS Umfted Incorporating Shrewsbury Drapers Company Charity
Board Report
Year Ended 31 Docamber 2023
4. Twstee Trainir4J
To continue to encourage Trustee trainiNJ where appropriate including online training c(wt3es through The
Almshouse Association, and record complianGe.
5. Property Maintenance
To continue maintaining existing properties as necesw at all of our site8 i￿luding Drapers Place, Fairford
Place, St G￿e5 and Holy Cross.
6. Progress wrth our New Amshousg Devebpment
Planning p8mission has been obtained for Fairford Place as a development site for the bulldlng of a new
unit of 8 apartments and the conversroD of 12 9XiSting bedslts to one-bedroom apartments.
The Company. and the linked ch8rty, are fortunate in not having to dèpend on charitable donations to meet
the wincipal chartlable objective, the provtsion of almsh)use accommodation. A htqh proportion of our incom8
is from rel8Uvely secure sources, induding Housing Benefit The Companvs resources, induding cash, are at
18vel that gfves ug the confidence that we can continue to operato no￿nallY.
Strudurn
emance and rn￿a
ement
Shrnwsbury Drapers Company
As an organised tody. the Shrewsbury Draperg became prominent with the founding of almshouses in 1444.
and became even more important when their Guild w89 irwrporatsd by Royal Chartor under the seal of King
Edward IV in the year 1462. In this Charter the Shrewsbury Drapers were given thè title 'A Fraternity or Guild
of the Hoty Trinity of the Men of the Mystery of Drapers in the town of Salop,. Following the &naCtm￿t of the
Mun￿1paI Corporations Act 1835 the members of the Guild c¥)ntinued as trustees of the Amshouses first
estsblished in 1444.
Tha Guld is now known as the Shrewsbury Drapers Comp8ny. It is not a registered charity.
Shrewsbury Drapèrs Holy Cross Llmtt8d {rogist•red Charlty 1132671)
Shrewsbury Drapers Holy Cross Limited was incorrthted as a private Company limited by gu8rants8 under
the Comp8nies Act 1985. It was sel up by the Shrewsbury Drapers Company with Its Memorandum of
Associa￿0￿ primarily to provKle almshouse accommodation for needy eldedy petsons of gocmd chararter who
are either ordinariFy residents of the immediate area of Shrewsbury, the wider area of th& Counties of
Shropshire and Powys, or have strc¥)g o)nnectt(Th with the same. It is a registered tharity.
Shrewsbury Drapers Company Charity {Reglst•r•d Ilnkodl¥ubsldlary Charlty 1132671-1)
The Froemen of Shrewsbury Drapers Company were responsit4e for the running of three individual sets of
almshouses untll 1 January 2015. From th* date the charities fomierty known as The Hwital of the Holy
Cross {1132671-1), Hospital of St Giles12339031 and the Shrewsbury Drapers Company General Charities
(213372) were Thrggj Into a new scheme to be known as Shrewsbury Drapers Company Charity {1132671-
1), o linked or sijbsldiary chartty with Shrewsbury Draper8 Holy Cross Ltd11132671) as the sole corwrate
trustee. The Gharities 233￿3 and 213372 were then d&reglst8red.
M•th¢xl of appolntment or el¢¢tlon of tho Board
One of th9 Board members must be the Master of the Shrewsbury Drap8rs Company who nomially WAI act as
Chairman. The Master is elected annually by the Freemen of the Shrewsbury Drapers Company through their
Court. The remainder of the Board must be Freemen of th8 Shrawsbury Drap8rs Company. At the Annual
General M8oting in May 2015. the 8oard agreed to make all Freeman of Shrewsbury Drapers Company
'Members" ol Shrawsbury Drapers Holy Cross Ltd. all crf whom havlng voting rights at future general meetings

Shrowsbury Drapers Holy Cross Limlted incorporating Shrowsbury Drapers Cornpany Charity
Board Report
Year Ended 31 December 2023
inc4uding election of new directors. The procedure must follow that presGribed In the Company Artides of
Associallon.
The selection ofthe peO￿e PLrt forward by the Board forelectbn is made after assessm￿ the areas ofexpertise
that need to b8 strengthened. In most cases these indNiduals WIN have served lime on the m8nagemenl su
commrtlees as part of their experien￿ Ènd trainiro. The dulles of Diroctors and Trustees are explained lo
thém.
Decisions arg made at the Board l&vel apart from d8legatKJn to commlttegs such as the Almshousos
Managemnt Commtttee which rerxyts to the Board.
b. Organisatlonal stwcture and d•cislon maklng
The Shrewsbury Dr8pers Company (Gulldl has up to ￿ ele(led Freemen wh) are all Memt)n of Shrewsbury
Drapers Holy Cross Ltd.
All Directors on the Board of Shrewsbury Drapers Holy Crcw Ltd have to b8 Freemen of ShreV￿ury Drapws
Company.
Some Freemen are Trustees l Oirectors of Shrewst￿ry Drapers Hall F¥eservation Trust Ltd (Registered
Chadty 1073486) bul any possible conflict d inter8$1 is declared. The F*Jssibilty of a confiict is very low.
The Board of the Shrewsbury Drapers Holy Cross Ltd, as ￿rpOrat9 tsiJ8tee, has over811 r85ponsibility fof the
management of Shrewsbury Drapers Company Charity11132671-1) in 811 its 3ffairs.
The Ajmshouses Management Cormitttee, is responsible for the daity management of all the 81mshouses
owned by Shrewsbury Dr8pers Company Charity11132671-11 and the remalnlng almshouse underthe Adam$
Eleemosynary Charities and Ihe resKlents. This committee reports to the Board of the Shrewsbury Dra￿￿8
Hdy Cross Ltd.
Th8 Finance Committee Is ehaired by the Finance Dwector and makes recjjmmendalions to the Board on
budgets 8nd flnanci81 management matters.
The Board h8s adopted a c(MJe of governan￿ based on t8mplate provlded by the AlmshoLtse Associatlon.
In addition. Shrewsbury tkapers Company Charlty Is a member ofthe Almshous8 Association ￿1¢h publi3h89
"Standaids ofAmshouse Management" which Is LFsed for referen￿.
The Company is a registered providar of social lyyjsing with Horngs England. The Board is duty bound lo
follow regulatory com￿lance from Ihe Regulator of Social Housing IRSHI the Charlty Commissiw. and
Companies House.
c. Employee Invofvement and gmploym•nt of tho dl8abled
Employees are consulted on issues of concem to them by means ￿ regular ¢onsult8tfve a￿1 staff meeting$
and have been kept infc*med ￿ specrfi¢ matters directly by management. The Company c4rries out exil
Intervi8ws for all staff le8vlng the organisalion.
In accordance Wtth the Compatys equal opportunitsos pollcy, the Company has long established faif
employment practlces in the recruFtmenL selec￿n, retention and training of dlsabled staff. Full details of this
policy is available from the COMpan￿S office.

Shrgwsbury Drapers Holy Cross Limitsd Incorporatlng Shrewsbury Drapers Company Charlty
Board ReF)Ort
Year Ended 31 December 2023
Board's rgspon8ibilities
The Board is responslble for preparing the r8tt*t and fnanclal ststements in attordance ￿th appliGab19 law
and regulations.
Company charfty 18W and registered social IKMJsing legi8latlon ￿qUIre th8 Board to prepare financial
statements for each flnancial year which give a true and fair view of the state of affairs of the Company and of
its income and 8xp&ndlture for that peri￿1.
In praparfng th8$8 flnanclal statèments. the Board Is reqLtlred lo=
select sultable accountlng policies and then apF4y thsm Consistent￿.,
make judgem8nts and estimates that are reasonable and prudent.,
state whether appllcatle accounting standards have b88n folbwed, subjectto any materi81 departures
disclosed and explained In the financial statem8nts" and
prepare the financial statements on the goiThJ cx)nc8m basis unless It k8 inapproprkqte to presume thal
the Company will continue in twslness.
The Board ts responsible for kee￿n9 proper accounting records which disckjse with reasonab￿ accuracy at
any time th8 financial poslllon of the Company and enable it lo ensure that the finandal statements comply
th the Accounting Direction for ￿￿te registeied providers of social housing in England 2022. It has generdl
reS[￿nsIbIlity for taking reasonable steps to safeguard the ass8ts of the Company and to prevent and detect
fraud and other irregularities.
Dlxlosuro of Infom￿tion to tho audilors
We, the Board members who held office al the date of approval of these Financial StateM￿ts and in line with
the Regulator of Social Housing'$ 'Govemance afKI Finanaal Vk9bilily Standard, as set out variously above.
each confimi, so far as we are aware, that:
there is no relevant audit informatN)n of which the au¢JltcMB are unaware;
we have taken all the steps that we ought to have taken as Board rnembers in order to make oursefves
aware of any relevant audit Inlomiation and to aslablish th8tthe audllors are aware of that infonnation;
and
we c￿M[￿Y with the Governan￿ and Financial Wiability Standards set by Ihe RSH.
On b8half of th& Board
Mr T Hunl
Chalr
24 Aprll 2024

Shrewsbury Drapors Holy Cr088 Limited incorporating Shrèwsbury Drapers Company Charlty
Indepondent Auditofs Report to the Members of Shrewsbury Draper8 Hoty Cross Limited
In¢orporating Shrewsbury Drapers Company Charity
Yoar Endod 31 D8cernber 2023
Opinlon
We have audited the finandal statements of Shrewsbury Drape￿ Holy Cross Llmited ￿C01[x)ndtInQ Shrewsbury
Drapers Company Charity {the 'Associ8tion') for the y8ar ended 31 December 2023 which comprise the
Statement of C(wnpreher6ive Income, the Balan￿ Sheet, the Cash Flow Statement and rK)tes trj the financlal
statements, including a summary of signrficanl accountlng pOI￿leS. The finar￿la1 reporting framework that has
been applled in th8ir preparatlon Is appluble law and United Kir¥Jdcffi Accounting sta￿lards. indudiTrJ
Financkql Reporting StaTrJard 102 The Finanu81 Reporting Standa￿1 applic8ble in the UK and Republic of
Ireland {Unlled Kingdom Generally A￿pted Actountlng Practice).
In our opinion the financial stat8rngnts'.
give 8 twe and fair vlew ofthe state of the A$s￿lation'S affalrs as at 31 D8comb8r 2023 and ￿ Is In￿mIng
rasoLJrces and applution of resources, induding tts income expenditure. for the year than ended,.
have been properly prepared in accordance wlth Unf(ed Kingdom Generally Accefvl Ac¢xMJnting Practu.,
and
have been prgpared in accordance with th& requiremerrts of Companiès Act 2006. thg Housing and
Regeneration Act 2008 and tho Accounting Direction for private tsgistered providers of soGial housing In
England 2022.
Basls for opinlon
We ¢onducted our audit in accordance with Intemallonal Standards on Auditing (UK) IISAS IUKI) and applicable
. Our responslbi15ties underthose stand8rds are furtkEr described in the Auditorfs resportsibllllies forthe audit
of the financial ststements section of our report. We a￿ Ind8pendent of the assoc1a1￿Jn in accordance with the
ethical requirements that are relevant to our audh 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 requir8ments.
We bglieve that the audit ￿Idence we have obtained is sufficient and appropriate lo provide a basis fof our
opinion.
Conclu¥ions relallng to golng concom
In auditing the financial statements. we have cJJnc1ud￿ that the Boards, use of the going con￿rn basis of
accounting in the preparation of the financial stat8ments is appropriate.
Based on the work we have perfonmed. we have not E(Jentrfied any materlal uncertaintr9s relating to events or
condttions that, indivkyually or collectrvely, may cast slgnffjcanl doubt on the Association's abilty to continue as
a going c¥Jncem for a period of at18ast tsvefve months from when the finanaal statements are authorised for
issue.
Our responsibilities arKI the reswrysibiliues of the B08rd wlth respect to ping concern are described in the
relevant section5 of this rewt
Othor Inforniatlon
The other infomiation comprfses the information induded in the annual re￿rt. other than the financol
statements and our audrtorfs report thereon. The board are reSponsi￿e forthe other infomiation contained wrthin
the audit roport. Our opinion on the ffinanckgl statements does not cover the other infomiation and, exGepl lo the
extent otherwise expl￿rt￿ stated lli our report we do rot express any foryn of assurance conclusi¢)n thereon.
Our responsibility is to rgad the other infomation and, in doiry so. cOn￿der whether the other information Is
materially inconsistent with thefinancial staternents or ￿r kno￿edge obtained in the audit or oth8rwise app8ars
to be materfally misstated. If we idenlty such material inrJ)nsistencies or apparent material misstatements. we
are required to determine whgther this gives ris8 to a material miSStat￿ent in the financial statements
themselves. If. based on the work we have performed, we conciude that there is a material misstatement of this
other ifrfomialion. we are requirod to report that fact.
We have nothing to TrFQrt in this regard.

Shrew8bury Drapers Holy Cross Umlted Incorporatlng Shr•wsbury Drapers Company Charty
Ind8p8ndent AuditoVs Report to the mem￿r8 of Shrewsbury Drapers Holy Cross Llmlted
incorporatlng Shrewsbury Draper5 Company Chartty
Year Ended 31 December 2023
Oplnion on othgr matters prosGIlb￿l by the Companios Act 2006
In our opinion, based on Ihe Wfxk undertaken In the Course of the audlt. the Infomatic￿ given in the board re
for the financial year for which the financial statements are prepared Is consisleTrl wth the financial statements.
and the board report has been prepared in accordance with applKable legal requlrements.
Matter5 on which we ar• rnqulrad to report by ex¢•ptlon
In the light of our kn￿edge and understanding of the ass(￿lation and Fts environment obtained in the course
of the audit. we have not identifled material misstatements In the board report.
We have Th)thing to reFK*t in rgspect of the following rnatt8rs In relation to which the Companies Act 2006
requires us lo report to you if. in our opinion..
adequate acc￿n11ng racords have not been kept or r9tums adequats for our wjdit have not boen receiv&J
from branches not wsited by us: or
the financial statements are not in agreement wmh the accountlng rec(Yds and retums.. or
certain disclosures of dirèdors, remuneration speGifi8d by law are not made., or
we have not received all the in10￿ation and eXplanatic￿S we requi￿ for our audtL
In addltion, we have nothing to report in respect of th8 following matter Whe￿ the Housiry and Regeneration
Act 2008 requires us to report to you rf. in our opinion."
a satisfactory system of control over tr8nsactKJns has not been mainlaingd.
Rgsponslblllties of the board
As explalned more fvlly in the board's responsibilities statement, th8 board membets {who are also the d[r￿10[5
of the asS￿latIon for th8 purposes of company law} are wponsible for Ihe preparalhm of the financial
statements and for being satisfied that they give a tnje and falr view, and for such intemal control as the board
determine i8 ￿￿SSary to enable the prèparation of financial statements that are free from material
misstatement, whether due to fraud or error.
In prepariro the finandal slatem8nts. the board 13 responsible for asse55ing th8 assodatlon's ability to contlnue
as a going concern, dl$ck6lng, as applicab￿, matters related to gcmng o)ncern and using the going concern
basis of accounting unless the board either intsnds to liquidate the assouation or to cease opèrations. or has
no ￿alIStiC attemative to do so.
Audltorf8 re8ponslbllltles for the audlt of tho finthnclal statsmonts
Our oblpAives are to obtain rgasonabl8 assurance about whether the financial stat&ments as a wthole are free
from material misststement, wheth8r due to fraud or error, and to Issue an auditor's report ihat indudes our
opSnlon. R&3sonable assur3nc8 15 a high level of assurance, but Is nol a guarantee that an audit cA)nduGted in
accordance with ISAS IUKI will always detect a material misstatement vthen tt exists. Mi8Stat8ments can arise
from fraud or error and are LxJn¥idgred material if. Individual￿ or In the ag9￿ate, they could reasonably be
expected to irfuence the economic decisi(￿S of user5 taken on the basls of these financial statemerrts.
Irregularhles, iThJuding fraLxI. are instsnces of non-complianGe wth laws and reguLgtions. We d881gn procedures
in line vAth wr ￿spOnSibl11ties. outlin8d abov8. to detect material misstatements in respect of Irregularib'es
induding fraud. The extent to which or Prc￿edUreS ar8 capable of detecting irregularfties. induding fraud Is
detailed bel(yw.'
Th6 audit team obtained an understsnding of the legal and regulatory frameworks that are applicable to the
Assodation and determined that the most signfficant are those that relale to the repoiting framework IFRS102.
the St*ement of Recommended Practice for Soci81 Housing Providers 2014 and the Accounting Direction for
private registered providers of s(xial housing in England 2022). omploymenl law, Heallh and Salety
R8gulatbns, and the EU General Data Protection Regulation (GDPR).
We underst&xl how th8 Asscciatlon Is ￿Mpl￿ng with thesè frameworks by making enquiries of management
and those responsible for I￿al and cornpllance procedures. Wg have also review￿ board minules to identify
any recorded Instances of irr8gular4ty ￿ non-compliance that might have a material impact on the flnancA81
statements.
10

Shrewsbury Drapers Holy Cross Limited in¢orporatlng Shfowsbury Drapers Company Charlty
Independent Auditorfs Report to the Members of Shrewsbury Drapers Holy Cross Limlted
incorporating Shrewsbury Drapers Company Charity
Year Endod 31 December 2023
We have assessed the SUgLeptibility of the A5sociationsfinancial slalements lo material misstatement, including
how fraud might occur by me&iw with key management to urKlerstand where they consldered there was
susceptlbllitylo fraud. Based m our understanding our proc&Juros inVo￿ed enquiries of management and those
charged wlth governance. manual joumal entry testing, cashbook revws for ￿[ge and unusual items and the
challenge of skJnrficanl accounting estimates used in preparfng the finanrAal ststements.
A further description of our rasponsibilities for the audll of the financial statements is Iccatgd on the Financial
RetM)rting Council's website at.. www.frC.￿g.ukIauditorSre8ponslb1llties. Thls description forrns part of our
auditor's r&FJorL
Use of our r¢port
This report is madg solely to the Asscciation's membBrs. ag a body, in a¢xordance with chapter 3 of part 16 of
the Compani8s Act 2006 and se￿10￿ 137 ofthe Housing and Regeneration Act 2008. Our audit work has been
undertaken so that we mlght state to th8 AssocialDn's members thos8 matt8rs we are requir8(I to slate to them
in an auditorfs rgport and for no other purF(Ksa. To the fullest extent pem)itted by law. we do not accept or
assume responsibility to anyone other than the ASS(￿latIOn and the AS￿latiOn'S members as a body, for our
audit work, for this report. or for the opinlons we have formed.
WR Partners
Chartered Accountants
Slatutory Audrtors
Belmont House
Shrewsbury Busin8ss Park
Shrewsbury. Shropshirè, SY2 6LG
Date.. l £vL*

Shrewsbury Drapers Holy Cross Umlt•d incon)orating Shrewsbury Drapers Company Charlty
Statsment of Comprehon8lve Incom
Year ErKled 31 December 2023
2023
2022
Total
Total
Tumov
299.410
285,763
Cost of salgs
1106,643)
<154.285)
Gross surplus
Administrative 9Xpe￿IltUre
192,767
(47,6621
131,478
(23.529)
Operatlng surplus b•foro depreclatlon
DepT8ciation
145.105
107.949
(76,044
{76,910
31,039
Oporating suplus aftor dep￿latIon
69.061
Investment portfolio income and gains
174
(156.3971
Inl8rest receivable and similar Ir￿Me
2,793
125
Interest payable and similar charges
{59,2121
134,477)
Surplusl{Dèficltl on ordinary act1v1t1￿ and
total ¢ompreh•nsNe In￿￿0 for th& yèar
12.816
1159,7101
All activtb'es relate to continuing operatlons
The notes on pages 16 to 25 fonn part of these financial statsments.
12

Shrewsbury Drapers Hoty Cross Limited In¢orporating Shrewsbury Drapars Company Charlty
Balance Sheet
Year Endad 31 December 2023
Company reglstration numbor: 07000798
2023
2022
Fixed a6S
Tangible fixed assats
Investments
12 3,526.945
13
s￿9,355
3,598,505
959,713
4.436.300
Current assets
Debtors
Cash at bank and In h8nd
4,558,218
14
1,543
436,701
853
332.882
438.244
333,735
Craditors: arnounts falllng due wlthln one year
15
(64,4221
(65,149)
Net Current auots
373,822
268,586
Credltors: amounts falllng due aftèr more than one year
Total net as$ots
16 {769,848)
(799.3461
4.040,274
4,027.458
Reserves
Income and expenditure reserve
Revaluation res6rve
Restrrcted reserve
Endowment ieserve
Designated reserv8
18a 1,225,988
18b
797,572
18c
552.285
18d 1.332,629
131,800
1,167,641
824,572
565,285
1,339,960
130,000
Totsl Reservos
4.040,274
4,027,458
Tho financial slatements were approved 24 April 2024 and signed on behalf of the Board by
MrT Hunt
Dlroctor
Mr l Davieo
Dlroctor
The notes on pages 16 to 25 fonn part of these financial swements.
13

Shrewsbury Drapers Hoty Cross Llmlted incorporating Shrewsbury Drapers Company Charfty
Statement of Chang•$ in Reserves
Yoar Ended 31 DofAmber 2023
Incomo &
expenditure
r08erve
R•valuatlon
re8eThe
Doslgnat•d Restrlcted Endowment
resgr
Total
At 1 January
2023
1,167,641
824,572
130,OLM)
565,285
1.339.960 4,027,458
&Jrplus l (deficlt)
for the year
12.816
12,816
Intem81 trangfers..
t)eprfjciation
68,500
{27,(M)O)
{13,0001
<28,5001
Capllal
rep8ymenls
121,189)
21,169
Deslgnaled
projects
movements
I1,8￿))
1,800
At 31 Decernb8r
2023
1,225,988
797,572
131.800
552.285
1.332.629
4,040,274
TFp notes on pages 1610 25 form part of these flnancial statements.
14

Shrawsbury Drapers Holy Cross Llrnlted incorporallng Shr•wsbury Drapors Cornpany Charity
Statement of Cash Flows
Year Ended 31 December 2023
2023
2022
Cash Ilow from opèrating activltl•s
19
195,891
107,248
Not cash Ilow frorn operating actlvltles
195,891
107.248
Cash flow from Investlng a¢tivltl•s
Payments lo acquire tangible fixed asset
Transfers in (refer to note)
Inte￿$t received
(4,484)
16,086)
2,793
125
Net cash flow from Inv•sting actlvltl•s
{1,691)
(5,961)
Cash flow from flnanclng aGllvHIos
Interest paiij
Loans receivedl{repald)
{59,2121
{31,1691
(34.477)
167,152)
Net cash flow from financing acllvltles
190,381)
1101.629)
Net Incmaso1{decrease) In cash and Cash equfvalents
103.819
{342)
Cash and cash oqulvalonts at 1 January 2023
332,882
333.224
Cash and cash equlvalents at 31 Dècamber 2023
436,701
332,882
Cash and cash aquivalonts conslsts of:
Short temi desx)sits
436,701
332,882
Cash and cash aquivalènts at 31 Dec•mhr 2023
436,701
332,882
The mtes on pages 16 to 25 fomi part of these financial statements.
15

Shrewsbury Drapers Holy Cros8 Umlted Incorporating Shrowsbury Drapers Company Charity
Notes to tha Flnancial Statements
Y•ar Ended 31 De¢ember 2023
1 Summary of slgnmcant accountlng pollclos
{a) Gon•ral informatlon and bas1$ of prgparatlon
Shrewsbury Drapers Company Charity is a charfty and a private registwed provider of swal hou$iNJ in
the United Kingdom. The address of the regpstered office is given in the inforynation on page 1 of these
financol statements. The nature of the AssociatM)n's q)erydtions and principal activities is to continue to
run tls Almshouses for the benefft of the eldety in need of supporL
The Associats'on constitutes a publi¢ bgnefft Ass￿latic￿ as definad by FRS 102.
The ffinan￿81 statements have b88n prepared In accordance with applicable accounting standards
including Financial Reporting Standard 102 The Financi81 Repothy StandardApplicable in the UKand
Republic of Ireland (FRS 102), the Statement of Recommended Practice for s￿al Housiro Providers
2019. and with the Accounbng Direclion for prtvate registered providers of so￿al housing in England
2022. The financk91 statements are also prepared under the reouwements of tt)e Housing and
Regeneration Act 2008. The ffftancial statemenls have be8n prepared on a wing concem basis under
the historical cost convention, modffied to include certain items at fair value. The finanaal ￿ateMentS
are prepared In sterflng. ￿Treh is the fijncaional currency of the Association, and rounded to the nearest
£1.
The signfficant ac¢ounting policies appfied in the Preparat￿ of thes8 financial statements are set out
below. Thes8 pc4icies have been consistently applied to all years pregented unless otherwise stated.
(bl Tanglble Ilxed a88et8
Tangible fixed assets {induding soaal housing properties) are staled al deemed cost jess ac￿MUL918d
depreTh8lion and accumu18ted impaiThent losses. Cc6t Includes costs directly 811ributsb18 to making
the assd capable of operating as Intended such as the cost of acqulrfng land buildings.
developments costs, Interest charges on k)ang during the development period and expenditure on
improvements. Expenditure on improvement8 wlll only be capitalised when it results In Incremental
future benefits such as incwsing maint8nance contribulw)n5, feducing maintenance Costs or resu￿Ing
In a significant extsnslon of the useftA economic lrfe oftr£ propety.
The company separately identrfies the malor components vthich comnprise its housing propert$8s, and
charges depreciation so as lo write-dO￿l tF￿ Cost of each component lo its estlmaled residual v81ue.
on a slraigm line basi3 over Ils estimated useful eeonomic lrfe. The useful economic life of these
COM￿￿entS varies from 150 years for the struclure lo 25 years for COMp￿en￿ suth as healing
systems, windows and dc￿rs. The tXOPgrbes in their enti￿tY are depreciation over an averag8 01
approximately 50 ye8rs.
Depreciation 1$ provkled on all tangible fixed assets. at rates calculated to ￿te off the cos¢ less
estimated residual value, of @ach asset on a systematic basis over its expethd useful life as fdlows:
Land
Housing properties, complete
S) years
FLxtures and Fittings
15% SlravJht Line
Housing properties under c¥Jnstruction and the asS￿ated I1xtu￿S arKI fittings are not depredaled until
they are In use.
16

Shrèwsbury Drapars Holy Cross Llmlt8d Incorporatlng Shrewsbury Drapers Company Charity
Notes to tho Financlal Statements
Year Ended 31 December 2023
{c) Debtors and crodltors rec8lvable I payable wlthln one year
Debtors and (xeditors with no stated interest rate and receivabl8 or p8yable wrthin one yearare re¢orded
at tran$a¢tion price. Any ￿￿e$ arisirvJ from impainnent are recognisgj In the statement of
comprehensive income in otP￿r administrative expenses.
(d) Invostments
Investments are rec(yJnlsed initially at fair valua which is normally th8 transaction price oxdudirvJ
transaction cos1&
Subsgquently, IW are measured at falr value through the statement of
comprehensive income rf the shares are publicly traded or their fair value can oth6Th￿se b8 measured
reliably. Other investments a￿ mea8ur&J at cost less impairment.
(e) Tax
The A$s￿￿tion is recTrJnlsed ty HMRC as a charlty and thèrefore ex8mpt from corFy)ration ta
In Turnover and olher In¢ome
Tumover is measured at the faw value of the consideration r￿1Ve0 or receivable net of VAT and trade
diS￿Unts. The pollcth adopted for the reCognIt￿ of tumover 8re as folkxys:
Turrth)ver represents mainienance contriLMJkn'ons and sorvice charges ino)me (where appllcable)
receivable in the year net of maintenance contrtbutlons and service dlarge losses from votds.
Ig) Interest and dividends recefvable
Interest income Is recognised using the aff8(aive intarest methc*J and dividend income is recognis8d as
the Asswatlon's right to receive payment is established.
{h) R•strlctad l Endowm•nt RoseNos
Restricted l endowynent reseNes are those reseTres are only expendablo in accordance with th8
wishes of the funder or ￿gUlatOry body. Restrtded reserves indude fvnds raised in response lo a
SP8Ctfic appeal. Endowment funds represent those agsets which must be held pemanently. Revenue
and expenditure cannot be diredy set against restrict￿ I gnd(wmient reserv&s bLrt is taken through the
statement of comprehensive irKome and thgn a transfer to restricted l endowment reserves is made as
appropriate.
11) Judgmgnts and key sources of esllmatlon unGortalnty
Esllmates and judgments are conlnually evaluated and are based on historical experignce and others
factors, Induding expectations of future events that are believed to be reasonable under the
Circumstan￿$. The company makes estimates and assumptions conceming the fLrture. The resultir¥J
awunting estirnates, will by definitic￿. seldom aqual the related actual results. In the O￿nIOn of th6
directors there are no estimales and assumptions that have a svJnificant rigk of causing a material
adju$lmenl to the carylrvj alr￿)Unts of the assets and Ilabiltlles wthin th& next flnancial year.
17

Shrewsbury Drapers Holy Cross Llmlted Incorporatlng Shrewsbury Drapers Company Charlty
Notes to the Flnanclal Statsments
Year Endad 31 December 2023
Turnovér
2023
2022
Social Housing tumover (not8 51
Fundraising income
Olher income
264.305
15.185
19.920
253,716
13.359
18.688
299,410
285.763
Cost of sales
2023
2022
Repairs and maintenance
Staff salaries
Telephone
Eneryy
Insuranco
Water rates
Cleaning and sundrfes
Garden Ltpkeep
Alarm system
s￿￿￿1 Housing activity expenditure (nole 5)
22,206
31,557
1,818
19,322
8,027
2.473
5,893
11,931
3,416
106.643
72,451
29,954
17,618
2,924
5,287
11,518
4,727
154,285
Fundraiging expendRure
106,643
154,285
Administratlve ex￿dItur•
20tJ
2022
Management and admlnislration
Auditors remuneration - Cu￿ent year
Projoct developm8nt ¢osts
12,952
7,466
27.244
13.050
6.622
3,857
47.662
23,529
18

Shrowsbury Drapera Holy Cross Llmltod In¢orporatlng Shrowsbury Drapers Cornpany Charity
Notes to the Financlal Statemonts
Y•ar Ended 31 December 2023
Social houslng tumover and costs
2023
2022
Maintenance contribLrtlon$ receivable eXcI￿11ng servlce charges
Soc4al housing activity exp8ndilure
264,305
1106.643)
253.716
(154,285}
Operating surplus from social housing activiknes
157,662
99,431
Accommodatlon owned and In management
Number of
unlts at
31
Decombor
2023
Nurnberof
unlts at
31
December
2022
Own8d and in management
Unowned and in manag8ment
50
50
51
51
Investment portfolk* movemènls
2023
2022
Profit on the dlsrJ)sal of invesbnents
Loss on revaluation of investments
Income from investments
Investment management costs
18,918
(33.3561
23.142
{8.530}
41,539
(213,4131
24,735
(9.258)
174
(156.397)
Intgre¥t and other financo inGome and charyes
2023
2022
Bank intsrest ￿1Vable
2.793
125
2.793
125
19

Shrewsbury Drapers Holy Cross Llmlted incorporatlng Shr•wsbury Drapers Company Charlty
Notes to tha Flnancial Statements
Year Ended 31 December 2023
Surplus on ordlnary actlvitios
Surplus on ordinary actlvltles k% Stated after thargirvJ l (creditsng):
2023
2022
Auditor's remuneration
6.622
Profftl(Loss) on fair value movement of investments
33,356
213,413
10 Board and kny management personnol rgmuneratlon
The Board and key management pgr50nnel neither recelved nor waived any r8Mun9rat￿n during the
year12022.' Nil}.
11 Staff costs
The average numb8r of employees, calculated on a full time ￿u￿al￿t was 2 {2022.' 2).
Total staff cc6ts in the year were £31.55712022: £29,954).
The￿ are no employees who received more th8n £60,000 as their employee packag8.
20

Shrewsbury Drapers Holy Cross Umttad Incorporating Shrewsbury Drapgrs Company Charlty
Notss to the Flnan¢ial Statem•nts
Year Ended 31 December 2023
12 Tangible flxod assels- housing propertlos
Ho￿1n9
Flxture8 arrfl
lJttlng8
TL*al
torn￿018d
At 1 January 2023
Additions
Transfers
5.427.575
56,072
5.483,647
At 31 December 2023
5.427,575
60,556
5,488,131
Depreciat#)n".
At 1 January 2023
Charge for year
1.850,255
68,500
34.887
1,885,142
76,044
At 31 December 2023
1,918,755
42,431
1.961,186
Net bock value:
Al 31 Decemt*r 2023
3.508,820
18,125
3,526,945
At 31 December 2022
3,577.320
21,185
3,598.505
The net trM)ok value of land and buikjings comprised:
2023
2022
Land and bulldings:
Freehold
3.508,820
3,577,320
3.508,820
3.577,320
Tangible fixed assots held at deemed co
Certain freehcld larKI and t￿lI￿1ng5 included above were recognls&fj usirg a prewous market valuat￿￿
as a deemed cost on transitlon to FRS 102. These assets are belng depreciated from their valuation
date of 31 December 2013 and have a net bcK>k value of £1.141,82012022.' £1.168,8201. The histor
[￿t eqUIval￿tt ofthese assets is £344,248.
21

Shrawsbury Drdpgrs Hoty Cross Llmlted Incorporatlng shr￿bury Drapers Company Charlty
Notes to the Flnanelal Slatements
Year Ended 31 December 2023
13 Fixed asset Invosknents
Listod
Invesknents
Al 1 January 2023
Incorne rerEived
Profit on disposds
Revaluation
Management fees
Withdraw81s
959,713
23,142
18.918
133.3561
{9,0621
150,0001
At 31 December 2023
909.355
14 Deblors
2023
2022
Trade debtors
Other debtors
1.125
418
853
1,543
15 Crtdilors: amounts falling due wlthln one yéar
2023
2022
other creditc
Trade creditors and accru81s
Bank loan
Other loan
TaxatK)n aThJ social security
1,270
25,504
20,77D
15,OOD
1,878
64.422
2,719
23,668
22,441
15,000
1,321
65.149
The bank loan is Secu￿ over the freehcld pruperty of the Charity.
Other creditors in¢lude balan￿ lent to the charltable company by some of ts members (see note 201
and these balanrxs are all interest free.

Shrewsbury Drapors Holy Cross Llmlted Incorporating Shrewsbury Drapers Company Charfty
Notes to the Financial Ststemonts
Year Ended 31 December 2023
16 Crodltor8: amounts falllng due after more than on• year
2023
2022
Bank loan
Othgr loan
749,848
20,OC(I
789.848
769,346
30,000
799.346
The bank loan is $8cured ovar Ihg freehold property ofthe Chartty.
17 Croditors: bank loans falllng after more than one y•ar
Bank loans falling due aftgr mor6 than one year are repayable as follows:
2023
2022
One to two years
Two to fve years
FNe years or more
22.729
80,398
646,721
749,848
23,519
81,623
664,204
769,346
23

Shrowsbury Draper& Holy Cross Umlted Incorporatlng Shrewsbury Drapgrs Company Charlty
Notes to tho Financlal Statsments
Year Ended 31 December 2023
18 Reserves
al Unrestri¢led reserves
Incomo &
expendlturè
resebve
Deslgnated
reserv•
At 1 January 2023
1.167.641
130,0
Surplus l {d8ficit)
Internal transfer
12.816
45,531
1,800
1,225.988
131,800
Tha designated reserve 1$ made up of a major r8pairs fvnd of £15,800 and a dev8lopment fund of
£116.000.
b) Revaluation ￿SerVe
2023
At 1 January 2023
Intemal transfèr
824,572
127,000)
797,572
The revaluation reserve rdates to the revaluation of the a5msh(MJses on 31 December 2013.
The transf8r out relates to the r9valued d8ment of th8 depreciation charged in the year.
18 Roservos (continuod
c) Restrided r8serv8
2023
At 1 January 2023
565.285
Intemal transfer
{13,000)
552.285
At 31 December 2023
The restrfcted reserve relate5 to the net book value of the land and buildings of the Holy Cross
Almshouses and a transfer of £10,785 from the Adams Eleemosynary Charlt16s in 2019. The transfer
out relates to the depr8clation charged th8 year ended 31 December 2023.
24

Shrèwsbury Drapers Holy Cross Llmited Incorporatlng Shrewsbury Drapers Company Charity
Noles to the Flnanclal Statements
Year Ended 31 Docembor 2023
dl Endowed reseNes
2023
Al 1 January 2023
1,339.960
Intemal transfer
17,331)
At 31 DeCem￿r 2023
1,332,629
Tho endowed fund relates lo Drap8r5 Almhouses and a transfer of £277.746 from the Adams
Ele8monsynary Charftles in 2019.
19 Recon¢lllatlon of operntlng surplu¥ to ¢a8h flow frnm opor*ing activltles
2023
2022
8urplusl(Deficlt) for tho year
12.816
(159.710)
Interest ￿Yable
Interest received
Depreciation of tangible fixed assets
ReValuat￿n of fixed asset investments
(GainyLoss on $818 of fixed asset investments
Income from investments
Increase l (decrease) in creditors
Investmerrt management f88s
Wlchdrawals
Decrease l (increase) In debloTs
59.212
12,793)
76.044
33.356
(18,9181
(23.1421
34,477
11251
76.910
213.413
141.539)
(24.735}
11961
9.496
9,062
9),000
{690)
{7431
Net cash flow from operatlng actlviti8s
195,891
107.248
20 Rolalod Party d18cIo811rn
In prevlDUS years. some of the members lent am(xJnts to Ihe chaiitable company. The balance8
outstandlng at 31 December 2023 wgre £5.Crf)O. These balances are included wilhin other creditors and
are all unsecured and interest free.
Directors J Boyd, N Prosser, A Thom, G Dawes, l Dav￿$, N Sykes-waller and T Hunt are members of
Ihe Management Commlttee of the Shr8wsbury Drapws Company Guild.
25