Shrewsbury Drapers Holy Cross Limited
incorporating
Shrewsbury Drapers Company Charity
Board Report and Financial Ststements
For the year ended 31 December 2024
*AEACQXAI*
0410912025
COMPANIES HOUSE
A03
#310
Homes and Communities Agency registration number.. 4809
Company registration number. 07000798
Charity registration number: 1132671

Shrowsbury Draporn Holy Cross Limitod incorporating Shrewsbury Drapers Company Charlty
Financial Statsm•nts
Year Ended 31 Decomber 2024
Contonts
Page
Registered Social Housing Provider Information
Board Report
Independent Auditors Report
Statement of Comprehensive Income
Balance Sheet
10-12
13
14
Statement of Changes in ReseNes
Statement of Cash Flows
15
16
Notes to the Financial Statements
17-26

Shrowsbury Draporn Holy Cro88 Limited incorporatlng Shrnwsbury Drapern Company Charity
Rogistered Soclal Housing Provider
Year Ended 31 December 2024
Mambev8 ol Ihe Board
Mr A Cross
Mrs J Boyd
Dr R Hatts
Mr l Davies
Mr N Prosser
Mrs A Thorn
Mrs G Davies
Mr T Hunt
Mrs N Sykes-waller
Mr A Barbut (appointed 2013124)
Mr C Hudson (appointed 1819124)
Mrs L O'Loughlin (appointed 1913125)
Mr P McLoughlin (appointed 1913125)
Secretary
Mr C Hudson
R•gl8tor•d offlc•
Drapers Plac•
Horsefair
Abbey Foregate
sh￿WSbury
SY2 68P
Audltor
WR Partners
Belmont House
Shrewsbury Business Park
Shrewsbury
Shropshire
SY2 6LG
8ollcltor
Hatchers Sollcltors
Welsh 8ridge
1 Ffankwell
Shrewsbury
Shropshire
SY3 8JY
Bankerd
Lloyds PLC
Pride Hill Branch
Shrewsbury
Shropshire

Shrewsbury Draper8 Holy Cross Limited incorporating Shrewsbury Drapers Company Charity
Board Report
Year Ended 31 December 2024
The Board of Shrewsbury Drapers Holy Cross Limited, corporate trustee of the linked charity. Shrewsbury
Drapers Company Charity present its report and the audited financial statements of Shrewsbury Drapers Holy
Cross Limited for the year ended 31 December 2024.
The Trustees confirm that the Annual Report and financial statements of the Association comply with the
current statutory requirements, the requirements of the Association's goveming document and the provisions
of the Statement of Recommended Practice {SORP>, applicable to Registered Social Landlords. Housing
SORP 2018. preparing their accounts in accordance wlth the Financial Reporting Standard applicable in the
UK and Republic of Ireland {FRS 102) (January 2022).
Members of the Board
The members of the Board who have seNed during the year are as follows..
Mr A Cross
Mrs J Boyd
Dr R Hatts
Mr l Davies
Mr N Prosser
Mrs A Thom
Mrs G Davies
Mr R Gough {retired 815124)
Mr T Hunt
Mrs N Sykes-Wa118r
Mr A Barbut {appointed 2013124)
Mr C Hudson (appointed 18191241
Ob'ectives
Shrewsbury Drapers Holy Cross Limited (SDHC Ltd) is the corporate trustee of Shrewsbury Drapers Company
Charity (SDCC).
The objectlves of SDHC Ltd and SDCC are to continue to run their almshouses for the benefit of the elderly
in need ofsupport. Beneficiaries are ordinarily residents of Shrewsbury, the Counties of Shropshire and Po￿3
or have a strong local connection with the same. An assessment of the level of support is made on application
and the most appropriate applicant is chosen. The company provides social housing on the basis of
independent living whilsl developing community spirit of mutual support to prevent loneliness and improve
well-being.
A subsidiary object of SOCC is to conserve and preseNe specified historical items of furniture and other
artefacls at Drapers Hall, Shrewsbury.
In setting objectives and planning for activibes, the Board has given due consideration to the latesl guidance
published by the Charity Commission relating to public benefil and to safeguarding.
The very 'raison d'etre. of Shrewsbury Drapers is the provision of affordable accommodation to elderly
people within the Shropshire and Powys area. Without this accommodation, our residents would certainly
have struggled to find suitable accommodation and been possibly homeless within a local environment
where there is a serious shortage of surtable accommodation and where the local authority continue to be
under huge funding and housing pressures of their own. During 2024 51 flats were available and were
occupied (average 95'h + occupancy over the year).
During 2024 a fflajor project commenced to add 8 new flats permitting us lo provide further quality
accommodation to this group who are amongst those least likely to be able to look after themselves. This
project is planned for completion by the end of 2025.

Shrewsbury Drapers Holy Cross Limited incorporating Shrewsbury Drapers Company Charlty
Board Report
Year Ended 31 December 2024
In 2024 an external consultant was tasked with reviewing our exists'ng estate to ensure that it is properly
maintained and meeting all legislative standards
There are only iwo parttime paid staff with a great deal of the work of running and maintaining the estate by
members of the Shrewsbury Drapers being done on a totally voluntary basis. This has enabled the
organisation to successfully run the existing estale. commence a significant build programme as mentioned
and yet ensure that the costs are minimised.
We believe that our donors, our residents ( and their families) the local authorities involved and the general
public are clear that our activities are directly for the public good and meet the required siandards of being
for the public benefit.
Mlsslon Ststement
Shrewsbury Drapers Holy Cross Limited (SDHC) is a registered charity and Ihe corporate trustee of the linked
charity Shrewsbury Drapers Company Charity.
Our Purpose is to provide safe, comfortable and affordable homes for people in their later years.
Our Vision is that SDHC is a modem, efficient and effective prOv￿er of affordable housing communities where..
Resldents thrive in a safe and secure environment, free frorn isolation and loneliness. They and their families
recognise they get high value for money, rapid response to building repairs or problems. periodic
improvements and refurbishments, well-maintained cornmunal facilities and gardens, assistance,organised
meetings and events, and 8 listening ear.
Shropshlre Counell, Homes England, and regulators consider SDHC a responsible, professional
registered housing provider and developer helping to solve Shropshire's housing issues.
Donors feel iheir money is efficiently and effectivety spent on a worthwhile cause.
Communlty Group• appreciate the inexpensive community meeting room with excellent kltchens and AV
facilities.
Staff and Volunteers feel valued and appreciated, while being given the opportunity to make a real difference
to people's lives.
The people of Shropshire and Powys understand and value SDHC because of the benefits it brings to the
area and the surrounding communities.
There is an Almshouses Management Committee who oversee the management of the properties and resident
welfare. The liaison members who visit regularly and other volunteers who make Individual visits such as the
surveyors are required to undergo Disclosure and Barring Seprfice checks. The management of the volunteers
is through the Almshouses Management Committee which reports back to the Board. There is a complaints
policy and procedure in place for residents which is set out on the website.
A Manager runs the office at Drapers Place. and manages the properties including the comrnunty facility. the
Bradbury Suite. There is also a Finance and Admin Officer. There is considerable coordination and
cooperation between the employees and volunteers.
Close relationships bebNeen residents and the Manager reflect the professional and supportive role played by
employees. The Employees are given guidelines on their roles including relationships with the residents.
These are reviewed every three years.
All the Board members are volunteers.
The charity relies significantly on volunteer support partlcularly in the management of the almshouses including
secretarial and clerical work. Based on an analysis of volunteer time completed during the year. the benefit to
the charity over the year is esb'mated to be around £100.000.

Shrewsbury Drapers Holy Cross Limited incorporating Shrewsbury Drapers Company Charity
Board Report
Year Ended 31 December 2024
Trainlng and Inducllon of Board membefs
On appointment, Board members are given an induction which includes informing them of their duties and
responsibilities within Charity and Company law and best practice. Wrthin 3 months of their appointment. and
thereafter On￿ a year, all Board members are required to sign a declaration that they have completed the
necessary training.This training includes a requirement to undergo certified Safeguarding training at least
every 2 years.
On appointment and annually thereafter all 8oard members are required to sign a declaration of Trustee
eligibility and Declaration of Interests.
erational Hi
hts 2024
1.Occupancy and Residents
Our almshouses continue to be very popular. They are upgraded or redecorated as required when they
become vacant. Occupancy is typically in excess of 95¥9. Demand and enquiries for accommodation remains
high and any vacancies are ffilled within a relatively short space of ts'me thanks to our staff and diligent
volunteers. One apartment in Fairford Place has been deliberately kept vacanl during the new build project at
that venue in anticipation that it will be upgraded and refvrbished as part of the refurbishment element of 12
existing bedsit apartments in 2025, as a part of the overall project.
2 Property Improvement
Our Draper Surveyor continues to assess and implement the required propety maintenance across all four of
our almshouses sites.one bungalow at St Giles has had a new kitchen fitted.The Master's appeal this year
has raised funds to refurbish the Mulberry Community Room at Fairford Place, to be completed earty in 2025.
3 Almshouse Development
The development of a new purpose-built block of 8 residential units at Fairford Place commenced in July. This
will increase ourcapacty to 59 units in 2025.A refurbishmenl programme of 12 existing bedsits is also planned
during 2025 to upgrade the accomrnodation to single bedroom apartments.
4 Staffing and Board of Directors
We continue to monltor our staffing levels with a view to our future needs and management of our Almshouse
units. The Board has sought specialist advice on our compliance with the standards required by the regulator
of social housing. staffing needs and issuing of resident's licences lo occupy, including advice on the
lemporary relocation of residents during the relurbishmenl of their bedsit apartments. A new Company
Secretary has been appointed during the year.
Tho Pro
9rt1e8
Hospital of the Holy Cross: the S almshouses were built in the mid-1800s.
Part of the land behind the almshouses is leased to a crown green bowling club.
Falrford Pl•ce: there are 16 studio fiats, built in the 19608, set in a quiet location in Coleham, Shrewsbury
conveniently placed near to local shops and for walking into town. Planning permission has been granted to
replace Ihe fomier Warden's lodge with 8 new units. In addition 12 of the studio flats are intended to be
exlensively
altered to
provide
apartments
which
meet
current thermal performance
requirements.Improvements including redecoration and rewiring are carried out for the remaining 4 studio flats
as they become vacant.
Hospitsl of.st Giles: there are 4 one-bedroom bungalows near St Giles Church set back from Wenlock Road,
Shrewsbury.
Drapers Place..
Drapers Place contains 21 one-bedroom and 4 tsyo-bedroom apartments, an office for
administration, Iwo lounges for the residents, a hobbies room and the Bradbury Suite. The Bradbury Suite
comprises a large meeting room with AV faGilities and well equipped kitchen facilities. and is available for hire
by local people or organisations.

Shrewsbury Drapers Holy Cross Llmlted incorporatlng Shrewsbury Drapers Company Charity
Board Report
Year Ended 31 December 2024
Newport: There is one remaining Almshouse (of 4) at Newport. Whilst this property is not fully up to the
standards we set in tenns of space, the strong preference of the remaining resident to remain has been
respected. The resident will continue to enjoy full occupancy rights and. receives regular visits from Drapers,
and support from the adjoining Haberdashers, Adams, Grammar School.
The financial statements are prepa￿d on an accruals basis and the accounts are subject to a full audit rather
than an inspeclion.
For the year to 31 December 2024. the financial statements reported a surplus of £73.981 {2023.'£12.816).
The net assets at the year-end were £4,114.255 (2023.. £4.040,274).
The Board continually assess the financial perfomiance of the company with a detailed site breakdown of
income and costs. Monthly management accounts compare actual performance against budget with a detailed
variance analysis. Perfomiance metrics are reviewed on both a site and historic basis and provide infom)ation
for future planning and budgeting.
Financial performance
New Supply
Gearing
Interest Cover
Social housing cost per unit
Operating margin
Return on Capital Employed
2024
2023
19¥0
252Yo
£2711
25Vo
20%
245%
£2,091
230
a. Reserves policy
At the end of every financial year sufficient funds are set aside Irom income or existlng financial assets to..
a) cover the cost of the repalr and the maintenance value of the existing physical assets., and
b) fund other reserves, including a general reserve, for amounts as may be deemed lo be appropriale in
foreseeable circumstances.
The Minimum level of reserves reflecis the property folio and the Company's mortgage liability.
Free reserves at the year*nd were £584,015 (2023.. £863,616). An allocation of £366,469 was made in the
year to the Designated Reserve in respect of the funding of the Fairford Place project and £100,000 for
quinquennial maintenance costs.
b. Material investments pollcy
Investments are being managed by Brewin Dolphin under an agreed policy of diversified risk seekin9 a total
retum from the portfolio of both captsl appreciation and income yield. Regular reviews tske place.
c. Rlsk management
The Board examines annually the strategic and operational risks which the entity faces and confirm that
systems are in place to enable regular reports to be produced so that the required steps may be taken to
lessen those risks. They continue to review and improve such systems as may be necessary.

Shrewsbury Drapers Holy Cross Limited incorporating Shrewsbury Drapers Company Charity
Board Report
Year Ended 31 December 2024
The almshouses are on 5 sites. Each srte is considered on an individual basis and where required
improvements to properties continue.
The Board has identified that potential loss in revenue resulting from a lower than 900A occupancy rate could
put a strain on finances with respect to repayment of the mortgage. The rate of occupancy has been higher
than this year on year for some time. however the minimum level has been set at a prudent level. The current
level of reserves is above this.
Ke
Ob'ectives For 2025
l. Malntaln Flnanclal Su8talnablllty
To maintain financial sustainability amidst rising inflab'onary pressures and continue with
consistent efft)rt to manage its resources effectively. Increasing costs of management,
maintenance and inflation have driven up wages and material costs. impacting the overall
expenditure. and energy prices have been volatile Adaptive strategies lo mitigate thes8
inflationary pressures are ongoing as is the review of VIMC with Shropshire Council.
2. Resldenls
To provide safe and secure environment for our residents within a community setting where
their n8eds are understood while maintaining independent living within their own home. To
carefully manage the re-housing ol residents during the construction works and conversions
of bedsits to one-bedroom flats at Fairford Place.
3. Compliance and Pollcy
Review our performance as an almhouse provider against relevant sL1ndards and ensure
compliance with current regulatory and legislative requirements. Keep all policies up to date.
Catherine Hinton has been engaged as consultant to report and assist with these matters.
4. Property Malntenance
To undertake a quinquennial report on Drapers Place, Fairford Pla￿, St Giles and Holy Cross
to assess the condition, availabllty, and performance of the housing stock. The purpose of
this ￿port is to evaluate housing quality, monitor energy efficiency. check compliance. plan
maintenance and upgrades and assess demand and supply. To utilise report to make
Informed decisions regarding investments, maintenance and future developmenl to continue
to provide safe, appropriate and affordable housing.
S. Fairford Place Development and Rofurbishment
Construction of the new unit of 8 apartments has commenced and Is progressing to schedule
and budget. Refurbished units to be started once new build is complete and residents will be
re-homed within the 8 new apartments whilst the conversion from existing bedsits to one-
. bedroom fiats is undertaken. Substantial donations and contributions from The Bradbury
Foundation and Drapers members have been received in support of the project.
Shrewsbury Drapers Holy Cross Ltd. and rts linked charity have demonstrated prudent
financial management. wrth income from secure sources, not being reliant on charitable
donations, and through effective resource allocation and strategic planning they have
maintstned a stsble income stream and controlled expenditures. This financial stability allows
them to continue providing secu￿. safe, and suitable housing for vulnerable elderly people,
enabling them to enjoy independent living. By focusing on sustainable financial practices,
Shrewsbury Drapers Holy Cross Ltd. ensure5 that their mlssion of supporting the elderly
remains robust and resilient.

Shrewsbury Drapers Holy Cross Limited incorporating Shrewsbury Drapers Company Charity
Board Report
Year Ended 31 December 2024
Structure
overnance and mana
ement
Shrewsbury Draper6 Company
As an organised body. ihe Shrewsbury Drapers became prominent with the founding of almshouses in 1444,
and became even more important when their Guild was incorporated by Royal Charter under the seal of King
Edward IV in the year 1462. In this Charter Ihe Shrewsbury Drapets were given the tille'A Fraternity or Guild
of the Holy Trinity of the Men of the Mystery of Drapers in the town of Salop,. Following the enactment of the
Municipal Corporations Act 1835 the members of the Guild continued as trustees of the Almshouses first
established in 1444.
The Guild is now known as the Shrewsbury Drapers Company. It is not a registered charity.
Shr•w8bury Drapern Hoty Cross Llmlted Iregl8l•red Charlty 1132671)
Shrewsbury Orapers Holy Cross Limited was incorporated as a private Company limited by guarantee under
the Companies Act 1985. It was set up by the Shrewsbury Drapers Company with its Memorandurn of
Associats'on primarily to provide almshouse accommodation for needy elderly persons of good character who
are either ordinarily ￿sIdentS of the immediate area of Shrewsbury, the wider area of the Counts'es of
Shropshire and Powys. or who have strong connections with the same. It is a registered charity.
Shrnw8bury Draper8 Company Charlty (Rogl8t•r•d Ilnk•dl8ubgldlary Charlty 1132671-1)
The Freemen of sh￿WSbury Drapers Company were responsible for the running of three individual sets of
almshouses until 1 January 2015. From that date the charities formerly known as The Hospital of the Holy
Cross11132671-1), Hospital of St Giles {2339031 and the Shrewsbury Drapers Company General Charities
(213372) were merged into a new scheme to be known as Shrewsbury Orapers Company Charity11132671-
1), a linked or subsidiary charity with Shrewsbury Drapers Holy Cross Ltd (1132671 > as the sole corporate
trustee. The charitles 233903 and 213372 were then de-registered.
Mothod of appolntment or electlon of the Board
One of the Board rnembers rnust be the Master of the Shrewsbury Drapers Cornpany who normally will 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 the Shrewsbury Draper5 Company. At the Annual
General Meeting in May 2015, the Board agreed to make all Freemen of Shrewsbury Drapers Company
"Members of Shrewsbury Drapers Holy Cross Ltd, all of whom having voting rights at luture general meetings
including elecbon of new direclors. The procedure must follow that prescribed in the Company Articles of
Associaiion.
The selech'on of the people put forward by the Board for election is made after assessing the areas of expertise
that need lo be strengthened. In most cases these individuals will have served time on the management sub-
ommittees as part of their experience and training. The duties of Oirectors and Trustees are explained 10
them.
Decisions are made at the Board level apart from delegation to committees such as the Almshouses
Management Committee which reports to the Board.
b. Organlsatlonal struclurn and decision making
The Shrewsbury Drapers Company (Guild) has up to 100 elected Freemen who are all Members of
Shrewsbury Drapers Holy Cross Ltd.
All Directors on the Board of Shrewsbury Drapers Holy Cross Ltd have to be Freemen of Shrewsbury Drapers
Company.

Shrewsbury Drapers Holy Cross Limited incorporating Shrew8bury Drapers Company Charity
Board Report
Year Ended 31 December 2024
Some Freemen are Trustees l Directors of Shrewsbury Drapers Hall Preservation Trust Ltd {Registered
Charity 10734861 but any possible conflict of interest is declared. The possibility of a conflict is very low.
The Board of the Shrewsbury Drap8rs Holy Cross Ltd, as corporate trustee, has overall responsibility for the
management of Shrewsbury Drapers Company Charity {1132671-1) in all its affairs.
The Almshouses Management Committee, Is responsible for the daily management of all the almshouses
owned by Shrewsbury Drapers Company Charity11132671-11 and the remaining almshouse underthe Adams
Eleemosynary Charities and the residents. This committee reports to the Board of the Shrewsbury Drapers
Holy Cross Ltd.
The Finance Committee is chaired by the Finance Director and makes recommendations to the Board on
budgets and financial management matters.
The Board has adopted a code of governance based on template provided by the Almshouse Association.
In addition, Shrewsbury Drapers Company Charity Is a member of the Almshouse Assoclation which publishes
'standards of Alrnshouse Managemenf which is used for reference.
The Company is 8 reglstered provlder of s¢xlal housing wlth Homes England. The Board is duty bound to
follow regulatory Complian￿ from the Regulator of Social Housing {RSHI the Charity Commission, and
Companies House.
c, Employee Involvement and •mployment ol the dlsabled
Employees are consulted on issues of concern to them by means of regular consultative and stsff meetr'ngs
and have been kept informed on specific matters dlrectly by management The Company carries out exit
interviews for all staff leaving the organisation.
In accordance with the Company's equal opportunities policy, the Company has long establlshed lalr
employment practices in the recruitment. selection, retention and training of disabled staff. Full details of this
policy is available from the Company's office.
8oard's re8pon81bllltle8
The Board is responsible tor preparing the report and financial Statements in accordance with applicable law
and regulations.
Company and charity law and registered social housing legislation requi￿ the Board to prepare financial
statements for each financial year which give a true and fair view of the siale of affairs of the Company and of
its income and expenditure for that period.
In preparlng these financial statements, the Board is required to..
select suitable accounting policies and then apply them consistently-
make judgements and estsmate5 that are reasonable and prudent:
slate whether applicable accounting standards have been followed, subject to any material departU￿S
disclosed and explained in the financial statements., and
prepare the financial statefflents on the going concem basis unless it is inappropriate to presume that
the Company will continue in business.

Shrewsbury Drapers Holy Cross Limited incorporating Shrewsbury Drapers Company Charlty
Board Report
Year Ended 31 December 2024
The Board is responsible for keeping proper accounting records which disclose with ￿asOnable accuracy at
any time the financial position of the Company and enable it to ensure that the financial statements comply
with the Accounting Direction for private registered providers of social housing in England 2022. It has general
responsibility for taking reasonable steps to safeguard the assets of the Company and to prevent and detect
fraud and other irregularities.
Disclosure of infomiation to the auditors
We, the Board members who held office at the date of approval of these Financial Statements as set out
above, each confirm, so far as we are aware, that..
there is no relevant audit information of which the auditors are unaware;
we have taken all the steps that we ought to have taken as Board members in order to make oursefves
aware of any relevant audit information and to establish that the auditors are aware of that information,
and
As8088ment of cornpliance wlth tho Governance and Financlal Viability Stsndard
We, the Board members who held office at the date of approval of these Financial Statemenls as set out
above. each confirm. so far as we are aware, that..
we comply with the Governance and Financial Viability Stsnadard applicable to registered providers
of social housing.
On behalf of the Board
Mrn N Sykes-waller
Chalr
30 April 2025

Independent Auditor's Report to the Members of Shrewsbury Drapers Holy Cross Limited
incorporating Shrewsbury Drapers Company Charity
Opinion
We have audited the financlal statemerbts of Shrewsbury Drapers Holy Cross Limited incorporating Shrewsbury
Drapers Company Charity (the 'Associats'on'} for the year ended 31 De￿rnber 2024 which comprise the
Statement of Comprehensive Income, the Balance Sheet. the Cash Flow Staternent 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 Fin8nci81 Reporting Standard applicable in the UK and Republic of
Ireland (United Kingdom Generally Accepted Accounting Pr8Cticel.
In our opinion the financial statements..
give a true and fair view of the state of the Association's affairs as at 31 December 2024 and of its incoming
resources and applicats'on of resources. including its income and expenditure. for the year then ended"
have been properly prepared in accordance with Unbted Kingdom Generally Accepted Accounting Practice:
and
have been prepa￿d in accordance with the requirements of the Companies Act 2006, the Housing and
Regeneration Act 2008 and the Accounting Direction for private registered providers of social housing in
England 2022.
8a818 for oplnlon
We conducted our audit in accordance with International Standard5 on Auditing (UK) (ISAS {UK)l and applicable
law. Our responsibilities under those standards are fvrther described in the Audilorfs responsibilities for the audit
of the financial statements section of our report. We are independent of the association in accordance with the
ethical requlrements 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 reqU1￿mentS.
We believe that the audrt evidence we have obtained is sufficient and appropriate to provide a basis for our
opinion.
Conclu•long relatlng Io golng conc•rn
In auditing the financial statements. we have concluded that the Boards, use of the going concem basis of
accounting in the preparation of the financial statements is appropriate.
8ased on the work we have performed, we have not identified any material uncertainti88 relab'ng to events or
conditions that. individually or collectively, may cast significant doubt on the Association's ability to continue as
a going concem for a period of at least twelve months from when the financial staternents are authorised for
issue.
Our responsibilities and the respon8ibllities of the Board with respect to going concem are described in the
relevant sections of this report.
Other Information
The other information comprises the information included in the annual report, other than Ihe financial
siatements and our auditorfs report thereon. The board are responsible for the other information contained within
the audit report. Our opinion on the financial statements does not cover the other informats'on and. except to the
extent otherwise explicitly stated in our ￿pOrt. we do not express any form of assurance conclusion thereon.
Our responsibility is lo read the other information and, in doing so. consider whether the other information Is
materially inconsistent with the financial statements or our knowledge obtained in the audit or otheMise appears
lo be materially misstated. If we identify such material inconsistencies or apparent material misststements. we
are required to determine whether this gives rise to a material misstatement in the financial statements
themselves. If, based on the work we have performed, we conclude thal there is a material misstatement of this
other information, we are required to report that fact.
We have nothing to report in this ￿gard.
10

Independent Auditorfs Report to the Members of Shrewsbury Drapers Holy Cross Limited
incorporating Shrewsbury Drapers Company Charity
Opiniong on ¢)ther matters prescribed by the Companies Act 2006
In our op¥iion. ba8ed on thework und*ken in the c¥)urse oflhe aLKlit
infornplion gpien in the tM)ard repcfft fortts financial yearfi)rwhi* Ihe fnar￿I st2te1r￿ts ￿ prepar8J is
o)nsistentwilh the financial s￿1e￿￿￿1s,. and
Ihe boarrl reFat has tEen FKepared in aCrOr(lan￿ wfth aWicale baal rqUiren￿ts.
Matters on which we arn requlred lo report by exception
In the light of our knowledge and understanding of the association and ils environmenl obtained in the course
of the audit, we have not identified material misstatements in the board report. Vve have nothing to report in
respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if. in
our opinion..
adequate accounting records have not been kept or returns adequate for our audil have not been received
from branches not visited by us; or
the financial statements are not in agreement wllh the accounting records and returns., or
certain disclosures of directors, remuneralion specified by law are not made;
we have not received all the information and explanations we require for our audit.,
the board were not entitled to prepare the financial siatemenls in accordance with the small companies
regime and take advantage of the small companies, exemptions in preparing the directors, report and from
the requlrement to prepare a strategic report.
In addition, we have nothing to report in respect of the following matter where the Housing and Regenerab'on
Act 2008 ￿qUireS us to report to you if, in our opinion..
a ￿￿'$factOry system of wntrol over transactions has not been maintained.
Ra8pon81bllttl•s ol the board
As explained more lully in the board's responsibilits'es statement, the board members (who are also the directors
of the association for the purposes of company law) are responsible for the preparation of the financial
staternenls and for being satisfied that they give a true and fair view, and for such internal control as the board
determine is necessary to enable the preparation of financial statements that are free from material
misstaterrent, whether due to fraud or error.
In preparing the financial ststements. the board is responsible for assessing the associatlon's ability to continue
as a going concern, disclosing, as applicable, matters related to going concem and using the going concern
basis of accounting unless the board either intends to liquidate the associats'on or to cease operations, or has
no realistic altemative but to do so.
Auditor's responsibilltie5 lor the audlt of the financlal statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free
from material missiatement, whether due to fraud or error, and to issue an auditorfs ￿port that includes our
opinion, Reasonable assurance is a high level of assurance. but is not a guarantee that an audit conducted in
accordance wrth 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 lo influence the economic decisions of users taken on the basis of these financial statements.
Irregularities, including fraud, are instances of non-compllance with laws and regulations. We design procedures
in line with our responsibilities. outlined above, to detect material misstatements in respect of irregularities
including fraud. The extent to which or procedures are capable of detecting irregularlties. including fraud is
detailed below.,
The audit team Obtained an understanding of the legal and regulatory frameworks that are applicable to the
Association and determined that the most significant are those that relate to the reporting framework {FRS102,
Ihe Statement of Recommended Practice for Social Housing Providers 2022 and the Accounting Direction for
private registered providers of social housing in England 2022), employment law. Health and Safety
Regulations. and the EU General Data Protection Regulation (GDPR).
We undetstood how the Association is complying with these frameworks by making enquiries of rnanagement
and those responsible for legal and compliance procedures. We have also reviewed board minutes to identify
11

Independent Auditor's Report to the Members of Shrewsbury Draper5 Holy Cross Llmited
incorporating Shrewsbury Drapers Company Charity
any recorded instances of irregularity or non-cornpliance that might have a material impact on the financial
statements.
We have assessed the susceptibility of the Association's financial statements to material misststement.
including how fraud might occur by meeting with key rnanagement to understand where they considered there
was suscepb'bilty to fraud. Based on our understanding our procedures involved enquiries of management and
those charged with govemance. manual joumal entry tesb'ng, cashbook reviews for large and unusual items
and the challenge of significant accounting estimates used in preparing the financial statement8.
Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including
those leading lo a material misstatement in the financial statements or non-compliance with regulation. This
risk increases the more that compliance with a law or regulation is remved from the events and transactions
reflected in the financial statements. as we will be less likely to become aware of instances of non-compliance.
The risk 15 also greater regarding irregularities occurring due to fraud rather than error, as fraud involves
intentional Con￿alment. forgery, collusion, omission or misrepresentalion.
A further description of our responsibilities for the audit of the financial statements is located on the Financial
Reporting Council's web51te at.. www.frc.org.uklauditorsresponsibilib.es. This description forms part of our
auditor's report.
Use of our report
Thls report is made solely to the Associatlon's members. as a body, In accordance with chapter 3 of part 16 of
the Companies Act 2006 and section 137 of ihe Housing and Regeneration Act 2008. Qur audit work has been
undertaken so that we might state to the Assoclation's members those mattels we are required to state to them
In an auditor's report and for no other purpose. To the fullest extent pemiitted by law, we do not accept or
assume responsibility to anyone other than the Association and the Association's members as a body, for our
audit work, for this report. or for the opinions we have fomied.
JL
WR Partners
Chartered Accountants
Statutory Auditors
Belmonl House
Shiewsbury Business Park
Shrewsbury, Shropshire, SY2 6LG
Date: L
12

Shfewsbury Drapern Holy Cross Limited incorporating Shrawsbury Drapers Company Charlty
ststement of Comprehenslvo Income Ilncluding Income & Expendlture Account)
Year Ended 31 December 2024
2024
2023
Total
Total
Turnover
317,466
299,410
Cost of sales
(138,252)
{106,843}
Gro88 8urplu8
Administrative expenditurn
179.214
{26.1961
192,767
{20,418)
Operatlng 8urplu8.beforn deprnCIat￿n
Exceptional items
Depreciation
153,018
172,349
10
(27,044)
76 044
73,959
Operatlng 8uplus after depre¢latlon
79.059
69,061
174
Inveslment portfolio incoff* and galns
45,216
Interest receivable and similar income
10.317
2,793
Interest payable and slmilar charges
(60.611)
(59,212)
Surplu8 on ordlnary actlvltlea and total
compr•h•n8lve Income for the y•ar
73,981
12,816
All activitles relate to continuing operations
The notes on pages 17 to 26 fomi part of these financial Statements,
13

Shrewsbury Drapers Hoty Cross Limited Incorporating Shrewsbury Drapers Company Charity
8alanc• Sheet
Yoar Ended 31 December 2024
Company registration number: 07000798
2024
2023
Flx•d ai••ts
Tangible fixed assets
Investments
13 3,973.784
14
554,411
3.526,945
909,355
4,528,195
4,436,300
Currant assets
Debtors
Cash at bank and In hand
15
1.063
1,231.217
1,232,280
1,543
436,701
438,244
Credftorn: amounts falllng du• wftttln one yoar
16
(891.060)
(64,422)
Net curr•nt M••ts
341.220
373,822
Cr•dltor8: amount• f•lllng due after mor• than one y•ar
17 (755.180>
(769,848)
Total not a$$ot•
4,114,255
4,040,274
Re8ervo•
Income and expendlture re8eThe
Revaluation reserve
Restricted reserve
Endowrnent reserve
Oesignated reseNe
19a
941,829
19b
770,572
19¢
528.500
19d 1,043.604
19a
829,950
1,225,988
797,572
552,285
1.332,629
131.800
Total Re6erveB
4,114,255
4,040.274
The financial statements were approved on 30 Aprtl 2025 and signed on behalf of tha 8oard by
Mr• N 8ykM-Wall
Olrector
Mr l Davl
Dlrector
The notes on pages 17 to 26 form part of these financial ststements.
14

Shr•wsbury Drapers Hoty Cross Llmited incorporating Shrowsbury Drapers Company Charity
stst•m•nt of Change8 in Reserves
Year Ended 31 December 2024
Incom• &
expondlture Rovaluation Designated Rutrlct•d Endowment
rnservo
reseNe
ro88Th0
re8eNe
reserve
Total
At 1 January
2023
1.167,641
824.572
130.000
585,285
1,339,960 4,027,458
Surplus l {deficit)
for the year
12.816
12,816
Internal transfers:
Deprecialion
68,500
(27.000)
(13,000)
(28,500)
Capital
repayments
(21.169)
21,169
Designated
projects
movements
(1.800)
1,800
At 31 Oecefftber
2023 and 1
January 2024
1.225,988
797,572
131,800
552,285
1,332,829 4,040,274
Surplus l (deficit)
for the year
73.981
73,981
Intemal tran8fers:
Depreclatbon
68,500
(27,000)
(13.000)
(28,500)
Capital
repayments
(17.221)
17,221
Designated
projects
movements
(409,819)
898,150
(10,785)
(277.746)
At 31 December
2024
941.629
770.572
829,950
528.500
1,043,604 4,114,255
The notes on pages 17 to 28 form part ol these financial statements.
15

Shrewsbury Drapers Holy Cross Limited incorporating Shrewsbury Drapers Company Charlty
Statement of Cash Flows
Y•ar Ended 31 Decembor 2024
2024
2023
Cash Ilow from opernting activfties
20
992,830
145,891
N•1 cash flow from 0￿ratIng actlvltlo•
992,830
145.891
Cash flow from Inv•stlng aetlvltl•s
Payments to acquire tangible fixed asset
Interest received
Sale of investments
{520,798)
10,317
400,000
(4.484)
2,793
50,000
Net ca•h flow from Invegtlng aclivit1•8
(110,481)
48,309
Ca•h flow from flnanclng •ctlvlllo•
Inte￿$t paid
Loans receivedl(repaid)
(60,611)
(27,222)
(59,212)
(31,169)
Net ca8h Ilow from Ilnanclng acllvltles
(87,833)
(90,381)
N•1 Increa8•1{docrnuo) In c••h and ca•h oqulval•nts
794,516
103.819
Ca8h and ¢a•h oqulvalents at 1 January 2024
436.701
332,882
Ca8h and ¢a8h •qulvalent8 at 31 Decemb•r 2024
1,231,217
438.701
C38h and cash equlvalents con818ts of:
Short term deposits
1.231,217
436,701
Cash and eash •quivalents at 31 Docember 2024
1.231,217
436,701
The notes on pages 17 to 28 form part of these flnancial statement8.
16

Shrewsbury Drapers Holy Cross Llmited InCO￿oratIng Shrewsbury Drapers Company Charlty
Notes to the Financial Statements
Year Ended 31 December 2024
1 Summary of signlllcant accountlng policies
(a} General Information and basls of preparatlon
Shrewsbury Drapers Company Charlty is a charity and a private registered provider of social housing in
the United Kingdom. The address of the registered office is given in the information on page 1 of these
financial statements. The nature of the Association's operations and principal activilies 15 to continue to
run its Almshouses for the benefit of the elderly in need of support.
The Association constitutes a public benefit Assoclatlon 88 defined by FRS 102.
The financial ststements have been prepared in accordance with applicable accounting standards
including Financial Reporting Standard 102 Th8 Fin8ncial Reportlng Standard Applicable in th8 UK and
Republic of Ireland (FRS 102), the Statement of Recommended Practice for Social Housing Providers
2019, and with the Accounting Direction for private registered providers of social housing in England
2022. The financial statements are also prepared under the requirements ol the Housing and
Regeneration Act 2008. The financial statements have been prepared on a going concem basis under
the historlcal cost convention, modified to include certain items al fair value. The financial slalements
are prepared in sterling, which is the functional currency of the Association, and rounded to the nearest
£1.
The significant accounting policies applied In the preparation of these financial statements are set out
below. These policies have been consistently applied to all years presented unless otherwise stated.
(b) Tanglble fixed a86ets
Tangible fixed assets (includin9 social hou8ing properties> are stated at deemed cost less accumulated
depreciation and accumulated impairment losses. Cost includes costs directly attributable to making
the asset capable of operating as intended such as the cost of acquiring land and buildings,
developments costs, interest charges on loans during the development period and expenditure on
irnprovements. Expenditure on improvements will only be capitalised when it results in incrementsl
future benefits such as increasing maintenance contributions, reducing maintenance costs or resulting
n a S￿n1fi.Cant ethnslon of the uselul economlc Ilfe of the propety.
The company separatety identifies the major components which comnprise ts housing properties, and
charges depreciation so as to write-down the cost of each component to its estimated residual value.
on a straight line basis over its eslimated useful economic life. The useful economic life of these
components varies from 150 years for the structure to 25 years for components such as heating
systems, windows and doors. The properties in their entirety are depreciats'on over an average of
approximatety So years.
Depreciation is provided on all tangible fixed assets. at rates calculated to write off the cost, less
estimated residual value. of each asset on a systematic basis over its expected useful life as follows..
Land
Housing properties, complete
50 years
Fixtures and Fittings
1 SVO Straight Line
Housing properties under construction and the associated fixtures and fittings are not depreciated until
they are in use.
17

Shrewsbury Drapers Holy Cross Limited incorporating Shrewsbury Drapers Company Charity
Notes to th• Financial Statements
Year Ended 31 December 2024
le) Debtors and creditorn rocelvablo I payable within one year
Debtors and creditors with no stated interest rate and re￿1vable or payable wrthin one year are recorded
at transaction price. Any losses arising from impairment are reco9nised In the statement of
comprehensive income in other adrninistrative expenses.
Id) Investments
Investments are recognised initially at fair value which is normally the transaction price excluding
transaction costs. SUbseqUen￿y, they are measured at fair value through the statement of
comprehensive income if the shares are publicty traded or their fair value can otheDNise be measured
reliably. Other Investments are measured at cost less impaimient.
lo) Tax
The Associats'on is recognised by HMRC as a charity and the￿fore exempt from corporation tax.
10 Tumov•r and other In¢om•
Turnover is rneasured at the fair value of the consideration received or receivable net of VAT and trade
dlscounts. The policies adopted for the recognition of turnover are as follows..
Turnover represents maintenanrx contrlbutions and seNice charges income (where applicable)
receivable in the year net of maintenance contributions and service charge1088es from voids.
(g) Interesl and dlvldend8 r•ceivable
Interest income is recognised using the effective interest method and dividend income is recognised as
the Associab'on's light to receive payment is established.
(h> Re8trlcted l Endowment Roservo8
Restricted l endowment reseNes are those reserves which are only expendable in accordance with the
wishes of the funder or regulatory body. Restricted reserves include funds raised in response to a
specific appeal. Endowment funds represent those assets which must be held permanently. Revenue
and expenditure cannot be directly set against restricted l endowment reserves but is taken through the
statement of comprehensive income and then a transfer to restricted l endowment reserves is made as
appropriate.
(l) Judgments and key sources of e8tlmatlon uncertainty
Estimates and judgments are continually evaluated and are based on historical experience and others
factors, including expectats'ons of future events that are believed to be reasonable under the
Circumstan￿S. The company makes e5b'mate5 and assumptions concerning the future. The resulting
accounting estimates, will by definition, seldom equal the related actual results. In the opinlon of the
direclors there are no estimates and assumptions that have a significant risk of causing a material
adjustment to the carrying amounts of the assets and liabilities within the next financial year.
18

Shrewsbury Drapers Holy Cross Limited incorporating Shrew8bury Drapers Company Charity
Note8 to the Financial Statements
Year Ended 31 December 2024
U) Golng Concem
After making appropriate enquiries, the Board members have a reasonable expectation that the
Association has adequate resources to continue in operational existence lor the foreseeable future. The
Association therefire continues to adopt the gogin concern basis in preparing the accounts. The Board
members are nol aware of any material uncertaintities in relation to the Asscoiation's ability to continue
as a going concern for the foreseeable future.
Turnover
2024
2023
Social Housing tumover (note 5)
Fundraising income
Other income
287.303
10,200
19,963
264,305
15,185
19,920
317,466
299,410
Co•t of 8al•8
2024
2023
Repairs and maintenance
Staff salaries
Telephone
Energy
Insurance
W81er rates
Cleaning and sundries
Garden upkeep
Alarm system
Social Housing activity expenditure (note 5)
43,473
36,484
1,886
21.053
8,190
2,780
8,055
12.792
3.739
138,252
22,206
31.557
1,818
19,322
8,027
2,473
5,893
11,931
3.418
11￿,643
Fundraising expenditure
138,252
106,643
Admlnlstratlv• •xpenditur•
2024
2023
Management and administration
Legal and professional fees
Auditors ￿MUneratIon - current year
14,455
2,812
8,929
12,952
7.466
26.196
20,418
19

Shrewsbury Draporn Holy Cross Llmltod Incorporating Shrew5bury Dra￿rn Company Charity
Notes to the Financial Statements
Year Ended 31 December 2024
Soclal housing turnover and costs
2024
2023
Maintenance ￿ntrIbutionS receivable exduding sepiice charges
Social housing activity expenditure
287,303
(138.252)
264,305
(106,643)
Operating surplus from social housing activities
149,051
157,662
Accommodatlon ownod and In man•g•ment
Numbar ol
unlt8 at
31
Decemb•r
2024
Number ol
unlts al
31
Docemb¢r
2023
CXYned and in management
Unowned and in management
50
51
51
Inv••tment portlollo mov•m•nt•
2024
2023
Proffit on the disposal of investments
Loss on revaluation of invesknents
Income from investments
Investment managernant costs
31,048
(723)
22,272
(7.381)
18,918
(33,356)
23.142
{8,53Q)
45.216
174
Intertst and other flnanco income and charge8
2024
2023
Bank interest receNable
10.317
2,793
10.317
2.793
20

Shr•wsbury Drapors Hoty Cross Llmlted Incorporating Shrewsbury Drapern Company Charlty
Notes to the Financial Statements
Year Endod 3108cember 2024
Surplus on ordlnary actfvitles
Surplus on ordinary activities l¥ stated after Charging l (crediting):
2024
2023
Auditors remuneration
Profit l {Loss} on fair value movement in inveslmenls
8,929
(723>
(33,356)
10 Exc•ptlonal It•m•
2024
2023
Development project fees
27,244
11 Board and k•y manag•m•nt p•rnonn•l r•mun•ratlon
The Board and key managernent personnel neither received nor waived ary remuneratlon during the
year12023'. NII).
12 staff c08t8
The average number of employees, calculated on a full time equivalent was 2 (2023: 2).
Total staff costs in the year were £41.884 {2023: £33.057).
There are no employees who recelved more Ihan £60.000 8$ their employee package.
21

Shrewsbury Drapers Holy Cross Limited incorporating Shrewsbury Drapers Company Charity
Notes to the Financial Statements
Year Ended 31 December 2024
13 Tanglble fixed a88ets - thousing properti
Frnehold Land
and Bu51dings
Flxturgs and
ritting8
Assets under
Construc￿0￿
Total
Cost..
At 1 January 2024
Addrtions
5,427,575
60.556
700
5.488,131
520,798
520,098
At 31 December 2024
5,427,575
61.256
520.098
6.008,929
Depreciation..
At 1 January 2024
Charge for year
1,918,755
68,500
42,431
5,459
1,961,186
73,959
At 31 December 2024
1,987,255
47,890
2,035,145
Net book value..
At 31 December 2024
3.440,320
13,366
520,098
3.973.784
At 31 December 2023
3,508,820
18,125
3,528,945
Tangible fixed assets held at deemed cost
Certain freehold land and buildings included above were recognised using a previous market valuat'ron
as a deemed cost on transition to FRS 102. These assets are being depreciated from theif valuation
dal8 of 31 December 2013 and have a net book value of £1,144,82012023: £1,141,820>. The historic
cost equivalent of these assets is £344,248.
14 Fixod asset Investments
Llsted
Investments
At 1 January 2024
Income received
Profit on disposals
Revaluation
Management fees
Imthdrawals
909,355
22,272
31,048
{723)
(7.541)
(400,000)
At 31 December 2024
554.411
22

Shrewsbury Drapers Holy Cross Limited incorporating Shrewsbury Drapers Company Charity
Notes to the Financial Statements
Year Ended 31 December 2024
15 Debtorn
2024
2023
Trade debtors
Other debtors
200
863
1,125
418
1,063
1,543
16 Crodltorn: amounts falllng due withln one year
2024
2023
Other creditors
Trade creditors and accwals
Bank loan
Other loan
Taxation and social security
846,053
19,732
8,236
15,000
1,270
25,504
20,770
15,000
1.878
64,422
891,060
The bank loan is secured over the freehold property of the Charity.
Other loans include balances lent to the charitable company by sorne of its members {see note 21)
and these balances are all interest free.
Included within other creditors is a capital grant of £823,477 and donations of £18,050 relating to the
Fairford Place development project. Both amounts have been accounted for in accordance with the
performance model stipulated by the Housing SORP. The donats'ons are expected to be released to the
statement of comprehensive income in 2025 when the performance obligations have been completed.
17 Crndltors: amounts falllng due after more than one year
2024
2023
Bank loan
Other loan
745,160
749.848
20.000
769,848
755,160
The bank loan is secured over the Ireehold property of the Charity.
23

Shrewsbury Draper8 Holy Cross Llmlted Incorporatlng Shrewsbury Drapers Company Charity
Notss to the Flnanclal Ststements.
Year Ended 31 December 2024
18 cr￿￿0￿. bank loans falllng duo after more than onè year
Bank loans falling due after more than onè y8ar are repayable as follows:
2024
2023
One to years
Two to five years
Five years or more
8,610
30.604
705,946
745,160
22,729
80,398
646,721
749,848
19 R•8•rv
al Unrestricted reserves
Income &
•xpendlture
rn8•rv•
Deslgnatod
rn8erv•
At 1 January 2024
1,225,988
131,80.0
Surplus l (deficit)
Internal transfer..
73,981
(358,340)
898,150
829 950
The designated ￿serve is made up of £712,200 in ￿latiOn to designated funding for the Fairford Place
project, £100,OQO in relation to quinquennial maintenance costs and the balance relates to the major
repairs and development funds.
b) Revaluation reserve
At 1 January 2024
Intsrnal transfer
797,572
{27.000)
At 31 December 2024
770,572
The revaluation reserve relates to the revalUal￿n of the almshouses on 31 December 2013.
The transfer out relates to the revalued element of the depreciation charged in the year.
24

Shrewsbury Drapers Hoty Cross Limlted Incorporatlng Shrewsbury Drapers Company Charlty
Notes to the Financial Statsments
Year Ended 31 December 2024
19 Roserves (¢ontlnu•d)
c) Restricted reserve
At 1 January 2024
552.285
Internal transfer
(23,785)
528,500
At 31 Dec•mber 2024
The restrlcted reserve relates to the net book value of the land and bullding8 of the Holy Cr088
Almshouses. The transfer of £10,785 from the Adams Eleemosynary Charities in 2019 has been
transferred to Designated Reserves to be applied to the Fairford Place ProjecL The transfer out relates
to the depreciation charged ft)r the yaar ended 31 December 2024 and th8 designated funds transfer.
d) Endowed reserve8
At 1 January 2024
1.332,629
Internal transfer
(289.025)
At 31 December 2024
1,043,604
The endowed fund relates to Draper8 Place Alrnhouses and a transfer of £277,746 from the Adam8
Eleemonsynary Charities in 2019 which has now been transfe￿ed to Oesignated Reserves to be applied
to the Fairford Place Project. The transfer out relates to the depreciation charged for the year ended 31
December 2024, bank loan repayments and the designated funds transfer.
25

Shrewsbury Drapers Holy Cross Llmited incorporating Shrewsbury Drapers Company Charity
Notes to the Financlal Statements
Year Ended 310e¢ember 2024
20 Reconclllatlon of operatlng •urplu8 to cash flow Irom op•ratlng actfvltSe8
2024
2023
Surplu81(Deflclt) for the year
73,981
12,816
Interest payable
Interest received
Depreciats"on of tangible fixed assets
Revaluation of fixed asset investments
(Gain)ILoss on sale of fixed asset investments
Income from investments
Increase I (decrease) in creditors
Investment management fees
Decrease l (increase) in debtor8
60,611
(10,317)
73,959
723
(31,048)
122,272)
839,172
7.541
480
59,212
(2,793)
76,044
33,356
(18.918)
{23,142)
9,062
(690)
Net cash flow from operating actlvlties
992,830
145,891
21
Rolat•d Party dl8cIo8uro
In previous years. sorne of the members lent amounts to the charitable cornpany. The balances
outstanding at 31 December 2024 were £5,000. These balances are included within other108ns and are
all unsecured and interest free.
During the year. the charitable company incurred expenditure of £43.674 to the Almhouse Consortiurn
(Fairford Place Project} for which a trustee is a director under the temis of the funding. There were no
balances outslanding as at year end.
Directors J Boyd, C Hudson, A Thorn, G Davies, l Davies. N Sykes-Waller.T Hunt, and P McLoughlin
are rnembers of the Management Commrttee of the Shrewsbury Drapers Company Guild.
26