Charity registmion number 1139580 Cornpany registratlon number 7Z77557 Hackney Parish Almshouses Charity Annual report and financial statements For the year ended 31 December 2025 Had(ney Parish Almshouses Charity Legal and administratlve information Charity number 1139S80 Company number 07277557 Directors and trustees Mr Jonathan Jarrett- resigned as Chair 04.06.26 Councillor Margaret Gordon Mrs Joannie Andrew5- resigned 06.03.2S Mr Datoru Ben Paul-worika Rev Al Gordon Rev Andrew Wi150n Mrs Olivia Gordon Mr John Parmiter Ms Jacqueline Driver- appointed Chair04.06.26 Councillor Penny Wrout Rev Nathan Hayes- iesiened 05.06_25 Mr Andrew Lane- appointed 25.09.25 Rev Marcus Cyril Robert Farrar-appointed 25.09.25 Clerk to the trustees TheTTUSt Partnership (ceased 31" Jan 20261 Harrison Housing (from I" Feb 20261 Registered offlce Harrison Housin8 46 St Jarnes. Gardens London W114RQ Independent auditors Durbkley's Statuiory Auditor Chartered Certified Accountants Woodlands Grange Woodlands Lane Bradley Stoke BS32 4JY Bankers HSBC Bank PIC 2 Cheapside High Road Wood Green London N22 6HJ Regulator of Soclal Housing Reg No. 4695 Had(ney Parish Almshouses Charity Trustees annual report forthe year ended 31 De£ember 2025 Icontinuedl Page Report of the trustees 4-10 Report of the auditors 11-13 Statement of fiTranaal actmties 14-15 Balance sheet 16 Statement of cash flows 17 Note5 to the accounts 18-27 Had(ney Parish Almshouses Charity Trustees annual reportforthe year ended 31 December 2025 Icontinuedl Introduction The Hackney Parish Almshouses ChaTity is an incorpoTaied ChaTltable Company Limite(J by Guarantee. Prior to incorporation. the charities comprised separare entities.. one known as Dr Spurstowe and Bishop Wood ￿MShoU$e$ and the other known as Norris and Mongers ￿M$hOuse5. The Ha(kney Parish Almshouses ChaTity Provides forty-six homes located on three separate sites within the london Borou8h of Hacknev. Mongers almshouses are located near the church of St John of Jerusalem.Theywere originally created frorn a bequest from Henry Monger in 1669. The almshouses were rebuilt in the I84￿S. with funds from Sirjohn Cass's Foundation. and laier extended in 1997. Norris House almshouse was founded in 1857 in memory of South Hackney s first recioT, Henry Handley NorTIS11771-18501. Norris was a leading member of the Hackney Phalanx. a group ol early nineteenth- century Anglican H￿h Churchmen. The almshouses were rebuilt in 1967 and subsequently refurbished in 2002. Dr Spurstowe House is an almshouse comprising thirty-one flats located in Navarino Road. central Hacknev and is the modern-day culmination of two hisioric charitie5 each with theii own altnshouses. In 1666, the Reverend Dr Williarn Spurstowe, vicar of HackHey, buili almshouses in Mare Street and his biother. Henry, endowed the Charity with additional land later gifted. with the almshouses. io the manor of Kings Hold in 1667. The Dr Spurstowe Charity took over administration of ihe historic Bishop Wood Almshouses, Lower Clacton in 1906. Originally these almshouses were built in the late 1600's with funds left in the will of Hackney born Thomas Wood, Bishop of L¢chfield. They were 501d in 2015 to help fund the new almshouses in Navarino Road. Objectives and Artivities The object of the Charity is ihe provision and Maintenan￿ of almshouse aciommodation for local people in rinancial need. In exceptional circumstances. a resident may be appointed who meets the financi31 need criteria but live5 Outside the area of benefit. The number of residents appointed under this exception must not exceed one third of the total nurnber of residents. Trustee5 are pleased to report that the agreed objective5 above have been satisfied. and a healthy financial POSltion has been maintained to allow futUTe planning and 5UStainability. Public 8eneffit In carryin8 Out the Charit￿5 objectives. Trustees have had regard to the Charity Commission's guidance on Public Benefit. Gwen thai the purpose ol the Charity IS the relief of poverty, only ihe benefit aspect of "public benefit~ requires satisfying in an identifiable way. Trusiees are5atisfied that the continuous demand for affordable housing demon5traies thi5 test is met. Achievements & Performance Maintainin Almshouses Providing and maintaining the almshouses is the main activity OF the Charity. In the period up to 31 December 2025. Property Costs comprised 78%12024 66%) of ihe rotal expend5tLEre with the balan￿ split between 8overnance costs 22%12024 22%1 and loan interest O%12024 12%1. Examination of the Property Costs shows artsund 80%. or £236,13712024 £171,153) was spent on Repair5 and Mèintenance which include5 the provision of a warden. cleaning and gardening. Trustees consider the prov15ion of a warden as central to resident welfare. Almshouse Trustees have a duty of care towards the beneficiar%es which is considered in more delail below. Ha(kney Parish Almshouses Charlty Trustees annual reportforthe year ended 31 December 2025 Iconlinuedl The Trust Partnership provided the day-to-day property managernent and resident welfare function. This management wa5 passed over to Harrison Housing as of I" February 2026. R&ponsive repairs ale reported by the resident to the administrator and out50urced to a variety of sub-contractors. Progress is monitored and reported to Trustees at quarter￿ board meetings along wtth Management Accounts showing expenditure. Cydical Maintenan￿ and planned repairs are budgeted for and reported on within the Management Accounts. Provi5 on ofAlmshouse Accommod ion Hackney Parrsh Mmshouses Charity is 3 social bou￿ng provrder re￿stered with, and regulated by, the Regulator of Sgcial Housing as well as the Charity Commission. The Chartty 15 a rnember of The Almshouse Association. Trustees are aware of their duty of care to the residents as beneficiaries of the Chaiity and under the Care Act 2014. Resident welfare. including safeguardin& is central to the attvrties within the Charity and the provision of a warden acting a5 a good neighbour, vislting residents reeularfy and calling on them monthlv to tarry out safety checks such as smoke detector testing allows Trustee5 to monitOT resident welfare. Day to day management was carried out byThe Trust Partnership through to 31"Jènuary 2026. where it has since been conducted by Harri50n Housing. Management employs ihe warden and provides clerking and administrative functions. Within the breakdown of expendilure. the fees payable to The Trust Partnership are split into rnanagemerrt and clerking functions representing 57%12024 61%) of the Governance Costs. The warden's costs are accounted for within Property Costs. Reports on the 3lm5house management are made quarterly to the Trustee5' board meetin& Decisions are made by The Trust Partnership under an approved delegated authority procedure. The Pastoral Committee, made up of Trustees with deleEated authority for resident allocation and social functions. rneets regularly to ensure the Trusiees. duty of Care is monitored and upheld. Reports are madè to the quarterly Trustees. board wneeting5. Residents, meetings are held at least once a year, and a regular newsletter is produced. Mid-summer resident parties are part of the Social calendar and paid for by the Charity and gift vouchers are given to all residents at Christmas. In addition. the Legal & Governance Committee meets to ensure regulatory compliance, and the Property & Finance Committee oversee5 property rnanagernent and reviews the quarterty management accounts. Relief of Financial Haid5hi The governing documents. most notably the Article5 of Association dated 19" January 2017, allow for the Trustees to make it & condition of a re5idenV5 appointment that contributions to the mèintenènce of the Property should be rnade. The contribution. known as the Weekly Marntenance Contribution IWMCI, is set by Trustees annually in accordancewith the formula given by the Regulator of Social Housing. Trustees also request a monthly servi￿ Charge to cover non-housing related expendtture. This charge is reviewed annually based on the actual costs within the pfevtous year. The level of WMC and Setvice Charge is sei within the context of reÈulated social housing. Residents unable to pay are signposted to the Borough of Hackney for assessment and assistance. Hackney Parish Almshouses Charity Trustees annual report for the year ended 31 December 2025 Icontinuedl Financlal Revlew The Financi31 Statements The Financial Statements show total expenditure on charitable activilies of £377.10812024 £350.7351 of which £295,47912024 £233,0351 relaEes to Property Costs which have been 5remised above in Maintaining Almshouses. Governance costs represent E81.629 12024 £75.7891 which includes outsOUTced clerking. administration and accountancy fee5 as well as professional fees and trustee insurance. The income for the year is £483,11212024 £480.8241 of which £394.87612024 £380.2301 i5 from the Weekty Maintenance Contributions IWMCI and servi￿ CharBes paid by the almshouse residents. The Charity is social housing provider regulated by the Regulator of Social Housing IRSHI. As Such the level of contributions must follow the regulatorfs guidance and annual increases can only be made within the limits of the forrnula provided. Servsce Charges are based upon the actual costs during the preceding year. Tangible Fixed Assets relaie to the three sets of almshouses and are valued at £12,260.000 12024 £12,260,CM)01 based on valuations in 2015 and 2017 Inet of the HCA grant lor the building of Dr Spursrowè House). Maintenance debtors net of credits have increased on 2024. stsnding at £9,242 in 202512024 £8891. Thi5 15 owing to three accounts wilh signifLcant arrears between £1.9k and E3.3k and acti¥e recovery plans are i place. In managin8 the WMC debtors, Tr4Fstees are aware of extemal factors that may impact individual residents to repay in a timely way.. the pandernic and other economic factors have affected resi¢Jent's employmellt opportunilies which imparts their income. Trustees have noted that the number of residents now in receipt of the Housing Benefit has increased 5ignificanrly. Investment Poli Fixed Asset Investments are valued atthe year-end as £2.175.38012024 £2.082,6641 and are held as cash or within fund5 managed by the Naiional Almshouse Association Common Investment Fund IWAACIFI or the Charities Investment Fund ICOIFI managed by CCLA. The Tiustees. objective is to invest funds in order to maximise financial return and capital g*owth within an acceptable risk. to balance ihe income and capital return. Trustee5 are considering whether io redevelop or refurbish one of three current almshouse blocks. A final decision has yet to be made and, as a result. the funds held within COIF aTe held as cash for the purposes of liquidity. Trustees do not consider ihi5 to be a significant risk in the form of lost income given the current economic climate as a result of the pandemic and the Imminent decisioll regarding the Property. During 2021, tTU5tees commissioned a fe35ibility study into the redevelopment ol Norris House. The outcome of thal Study has highlighted the need for additional funding andlor partnership working in order to piogress. Trustees are actively investigating options. The proportion of the residents, contributions ￿preSentIng Extraordinary Repairs has been invested in COIF and NAACIF. Had(ney Pafish Almshou5e5 Charity Trustees annual report for the yearended 31 Detember 2025 Icontlnvedl Resetves Fund5 reported wiihin the Balance Sheet are considered in detail in the Note5 accompaThying the Financial Statements INote 91. Truslees have determined that £230.301 is the minimum level of unrestricted general funds requiTed to meet routine alrnshouse maintenance in the short to medium term. As at 31 December 2025, the Charity had total unresiricted funds amountin8 to £230301. restricted funds amounting to £655.780 and endowrnent funds (predominantly comprising the alrnshouse buildingsl of £13,667,225. The tru51ees ère therefore satisfied that their reserves criteria have been meL Value for Mone Metrics The Regulator of Social Housing requiies all registered provide￿ to report on the ftsllowing metric5.' Metric 202S 2024 Reinve5trnent New supply delivered Gearing EBITDA MRI IEBITDA Major Repairs Included) Interest cover % 2.41% 0% 30.91% Headlrne Social Housing costs per unit Operating Maigin1Sotral lettingsl Operating Margin (Overall) ROCE% 6a 6b 6.423 78.4% 86.3% 5,066 61.3% 80.3% 0.60% 0.41% The metrics do not lend themselves io Comparison with other small registered providers and benchrnarking would be of m05t relevance with data from other almshouse5. Small changes can have a disproportionate effect upon the figures. Preliminary conclusions from the metric above indicate that the costs per unit for repairs and maintenance exceeded the budget ofEI.913 based on The Almshouse Association's outline budget. This is. in part. due to exceptional repair costs for Dr Spurstowe House. a relatively new build and repairs at Norris and Mongers almshouses, being older properties. Risk Management The Risk Regisier is considered by TruSlees at every meeting and the perfollllan￿ of miiigating measures is monitored. Recent correspondence frorn M&G IrEvestment managers has confirmed that the income and capital yreld from investrnents is likely to continue to be adversely affected in the next year but the asset allocatitsn will benefit from an improving UK equities and bond rnarket. The ieserves wiihin the Charity are considered sufficient to ensure continuation of the Charl￿5 activities within the short to medium terni. Notwithstanding the current economrc uncertarnties. the risk5 facing the Charity are considered in terms of governance, finance, operational and external factors. a5 follows= Hackney Parish Almshouses Charity Trustees annual report for the year ended 31 December 2025 Icontinuedl Governanc The imp3Ct of the govemmenys care aE home policyand the inclusion of sooal housing provider5 Wlthin the Care Act 2014 has introduced an additional responsibility on Trustees to ensure, as far as p055ible, that residents are 5UPPOrted. Measure5 such as warden provision and resident-related pjlicies help to mitigate the risk. Additional responsibilitie5 imposed by regulatory bodiès. and best practice guidance, are closely monitored and addressed ai the regulai Trustee meetinBS. Finance The income from charltable activities. investment income and interest received continue5 to exceed expenditure but contirnuing regard is had to the poteniial threat to the value of. and income from. the Investment portfolio as a result of eeneral market forces and from the Covid-19 pèndemlc Weekly Maintenance Contributsons alone are sufficientto Sustain avefage yearly spend on property upkeep and governance. Increases in contribution charges are subject to regulation to ensure beneficièries are not placed into hardship by excessive charging above local housing allowance targets. Resident arreats are contained rhrough p¥ompt a￿lon and signpostingsupport. Trustees consider that reserves are Sufficient to ensure the long-term sustaiThability of the Charitv. erational Minimising the loss of intome from voids is achieved by effiaent turnaround of vacant almshouses and maintenance of a register of eligible applicants. External Factors The consequences of changinggovemment policy especially in felation to unforeseen factors, or as a result of general housing or social car&relaled legislation, are monitored. The Trustees aTe aware of the changing policy in relation to social housing re8u13tions and the impart this will have on monitoring and service delivery. Trustees are also aware that, over time. the expectations ol the beneficiary group may change especially in Telation to the property faulities. As longevity increases, demand for di53bled acce55 increases. Trustee5 are mindful of the changing requirements which have been included in the Norris development proposa15 currently at the feasibility stage a5 well a5 duringvoid turnaround. Plansfor the Future Since 2021. Trustees have explored the feasibility of redevelopin8 Norris House and continue to explore partnership options. as well a5 Other potential funding opportJnities through Home5 England. LB Hackney and the Greaier London Assembly. Alteration of Dr 5pursiowe House to provide a community room. and changes to the allocations policy to create a multi-generational living environment afe aLfio being considered. subpctto planning approval. Had(ney Parish Almshouses Charity Trustees annual report forthe year ended 31 De￿mber 2025 Icontinuedl Structure Governance and M3rba8ement The Articles governing the Hackney Parish Almshov5e5 Charity specrfy that there shall be between eight and fourteen Trustee5 who will act a5 both TIu5tees and Members of the Charity. The Trustees who have served during the year5 are set out on the legal and administrative information page. The Trustees are appointed a5 follow5.. Two ex-officio Trustees being the Rectors for the time being of the parishes of Hackney and St John of Jerusalem Church, both in the London Borough of Hackney. Six nominated Trustees.. iwo appointed by the London Borough of Hackriey, two by the PCC of the parish of Hackney Church and two appointed by the PCC of St John of Jerusalem. No tnore than slx Co-opted Trustees being individuals appointed by the re501ution of the Trustees. The term of office of a Nominated Trustee shall be four years and for a Co-opted Trustee the term shall be five years. The Chair and the Clerk are responsible for induclinE new Trustees whKh invofve5 awareness of a Trustee's responsibilities. the governing documents. administrative procedures and the history of the Charity. The 2020 Charities Code of Governan￿ provides the basis for Trustee perforn)ance. All Trustees are volunteers and are not remunerated. Ke Mana ement PeT50nnel Trustee5 comprise the key management of ihe Charity and ale responsible for the overall direction and running of the organisation. Trustee5 employed The Trust Partnership to manage the Charit(5 day to day activities and to provide administration assistance to theTnJstees. statement ot trustee< re5ponsibilitles The rru5tees are responsible for preparing the Trustee5' Repoit and ihe financial statements in accordan with applicable law and United Kingdom Accounting Standards Iunited Kingdom Generally Accepted Accounting Practice). The law applicable to charities in England & Wales requires the trusiees io prepare financial statements for each financial yearwhich give a tiue and fairview of the state of affairs ofthe charity and of the incoming resource5 and application of resources of the charityforthat period. In preparingthese financial statements, the trustees are required to= select suitable èccounting policies and then apply them consistently- observe the methods and principles in the Charities SORP.. make judgernents and estirnates thai are reasonable and prudent.. State whether applicable accounting Standards have been foljowed, subject to any material departures disclosed and explained in the financial statements.- prepare the financial staternents on the goinE concem basis unle55 It is inappropriate to presume that the charity will continue in business. The trustees are responsible for keeping proper accounting recoids that disclose with reasonable accura at any time the financial p051tion of the company and which enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of HaL*ney Parish Almshouses Charity Trustees annual report for the year ended 31 December 2025 Icontinuedl the company and hen￿ for taking reasonable steps for the prevention and detection of fraud and other Statement of disclosure to auditors So far as the trustees are aware. there 15 no relevant audit information of whith the compan(5 auditOTS are unaware. Additionally, the trustees have taken all the necessary step5 that they ov8ht to have taken as trustees in order to make themsdves aware of all relevant audit information and to establish that the cornpanvs auditors are aware ol that information. Approved by the Board ol Trustees and signed on its behalf Jacquie Driver Chair Date.. ulo6110 Hackney Parish Almshouses Charity ori ¥(the Inde endent dit¢krs lo the Truslte5 or Ilacknev Patlsh Almshouses Charit¥ Re istertd number= 7277537 Opittion 11 e ha%.¢ audiitd th¢ financial stst¢ments of Hacknti" Partsh Almshou￿ ChaTiI}' {thc chariiable compan}"'I for thc J'ear tnded 31 December 2025 15'hi¢h compris¢ ihe Stskmeni ofFinan¢ial Aciii'tlies. the Balanc¢ Sheet. Ihe Ca bloiv Sial¢mertl and notes io the financial SlaleniLmtA in¢lu(ting a sllnimaTh' ofstgnificani aeeouniiftg policies. Th¢ rinan£i31 reporting fraMe￿O￿- Ihai k'en applied in their pTrparaiion 15 appltcablc la￿.and Uiiicd Kingdom Accounting Sio[￿ards (Uniied Kingdom Generalli" Ac¢¢pled Ac¢ouniing Praciicel. In ouropinion the fmancial statunents.. gi%.¢ a tru¢ and fatr i.ieii of the siate of the chatitsbl¢ compani s affai[5 as at 31 Der¢mber ?02) and of ils incotning esourtes anij application of resources. incltjding its incomeand expendiiurt: forthe v&irthen ended,. haie been prowl)" prepaT¢d in accordatLC¢ iiith L'niied Kingdoffl Gen￿15 .4c¢eptrd Accoun(￿g Practice.. and a%"c be¢n piepar¢d in a£cordanct i%"ith thc requirements of thc Compaoirt. do express an!- fomi of assuTanc¢ conclu5ioTh thereon. In connection ii'iih our audit of ihe finamcial sw¢men￿ our responsibility is 10 ttad th¢ other infotTnaiion and, in doing so, cortsid¢r i%.hcth¢r the other infomtalion is mal¢rialli" in¢ohs1￿cnI iiith th￿ financial 5tatLincnis or our knoil-ledge Oh￿i￿ld in Ihc audii or otherni-ise 3ppcars 10 be m*eTiall)' mis5taied. If￿-¢ idL'nlifi' such maicrial in¢ort515ten¢ie5 or appweni mal¢rial mtss1aic]j2en￿ ii"e are rcquirid io d¢i¢ttnin¢ iihciher this gilts ii5e io material tnissthiem¢ni in the financial Aaiemtnis themsL'li'¢& Ir. b&sed the iic hai'e ￿T(￿rnied, li"¢ on¢lud¢ ihat th¢￿ is a material misstal¢m¢nl ofihis oth¢r infom?alioo li'¢ thre r¢quired kn repon that f3CI. We h81¢ rtothing lu repon in this TLgard. latter5 on which wt are re4uired to report b). extcptto Ilc hai'e noLhino 10 Tcpori in respeci ofihc fo110i4in£ maiiers i%there theChatiiieslAccoyntsand Reports) Reeulations 2008 rLquiies u5 1(b fLtMirt 10 )uu if. in our (winion.. thc infomiaiion Ell'eii in th¢ Rtport ofihc Trusiees is inconsiMenL in an). Jn3tiTial re4)eci 14.ith ihe financial siaicmenis.. or Illi charitabl¢ cotnpan% has noi kept ad¢NUa￿ atcouniing record5; or Ili¢ finaiicial 51aiements ar¢ not aEre¢initLI iiiih a￿VUntI00 r¢*{￿d5 and T¢iums," OT ie haiL' noi receii¢d all Ihe trtforJoaiTon and tKplaDaiions lit tcquire for OUT audii. Hackney Parish Almshouse5 Charity ort of the Inde endetht Auditors to the Tru#tes of Hatknev Parish Almshouses Charill. istered number.. 7277557 Responsibilitie$ o(trusttes As ¢xplsined more full%. in thc Swemeni ofTn]si¢e< R¢S￿￿5ibIlitie5. the It￿4￿5 li*ho are also thc directors of ihe chariiabli comp2n)' for the PUTposes ofcompanj la%4"l ate responsible for the PTewJtion of the financial staiem¢Dts and foibeing saiisfied thai thL￿. gile a Iru¢ fair l.it￿". and for sych ini¢rnal Control as thc irusiees d¢tettnin¢ is nece&￿￿￿. 10 enable the preparation oifinanci& 5￿c￿e￿IStha1 are fr¢e from material tnissuieJntnL ￿4)ether due to fraud OlCTror. In pr¢paring ihe financial sialement% Ihi Irustees are reswDsible for a5sessinz Ih¢¢harithble eompanv's abili1¥ lo coniinii¢ ￿ a going concern, disclosina as applicabl¢, matttTS relaied 10 going contern and u5in£ thtgoing concern basis of aecounting unk5s th¢ tnL$lL￿ either intettd io IiquLdate the ¢hatilablt compn)" oiify cose opernuon& or havt no realistic ali¢rn&tivt but to do so. Our rtspon5ibilities for lknt audit of Iht fin#th¢ial stattmeDts Ive hai'e tK'en appointed as auditots under Seoion 144 of ￿ Charili¢S Ad 20118nd re￿￿ in accordanc¢ iiith lh¢ Act and r¢leN"ant rcgulaiLWS made or tLa% ing ilY¢d thertvmkn. Our obj¢ctii"es are io obiain rasonable assurance aboul iih¢¢h¢r ihe r]rtaDcial sthi£mtrtts a5 a iilM)le are f￿¢ froj maitrial mi54tsLcmeDI. INheihtT due to fTaud or etror. and ￿ issue a Repirt olthe IndepEndent AudiioTS thai includ our opinion. R¢asonabl¢ JSSUTanc¢ is a hsgh Ici'el of assurancc. but is Mil a guasaDlee Ihal an audii conducl¥d i ac¢ordane¢ iiith ISA5 IUKI ii.ill al%47)'5 dele￿ a maierial mityaiemeni iihen li cxists. Nlisstsicments can arise from fraud or t￿0T and 8re considered matetial if, iftdi%iduail¥ or in iht aLeregaie, Iho could rtasortabli k oxpeaed to influence the economic deL15ions of u5ets ￿ke￿ on Ihe bL4is of th¢ge financial staiemenls. The exleni lo iithith our Pr￿ed￿￿$ are capable ofd¢*cting irreEularilie& including fraud ￿ deiail¢d belo￿.: Wc id¢ntifTr and asse55 tht TiSks of material misstxitm¢tit of ihe fjtwicial ￿￿ether due i(k ftaud or em)r. and ih£n d¢5ign and pcrfortn audit PlO¢¢dures reSWtL%II'￿ io Ihosc ris￿ tnc1udinsobtsin￿£ audit eVId￿e Ihal sufficieni and appmprialc io proiid¢ a b&%is for our opinion. Sdeotifythg and assessing poi¢ntial r￿kS T¢lai¢d to irr¢gulaTiiies: In ideniif! ing wjd aisessing risks ofmatetial misstsi¢menl in r¢4>e£i of ￿¢gUlaritI¢￿ including frdud and D( coniplian¢e iyith la￿5 and reeulationi lie consideTed ihe lolloil'ing.. - Thc nature of ihe charitablc seuor, ciwtrol cnvironmenl and wfomiance including Ihe design of the organisation's remuneration polities. .4T1) matiets li'e idenlified. haviDg obuined and rtiheM"d the OTEarti5alion's docum¢nLiiion of th¢￿ policses PTocidures relaiing io.. o Ideniify'ing. •"aluating and compl¥ing ii.ith lails and Icgulatsons and i%h¢ther thei. iiere aii.85¢ of any insianc¢s ofrtOD-compliance" o Diieciing and TespDndiDg to th¢ risks of ftaud and whttherthei. haitknoiiltdoc of an!. acwal, 5USP¢Cted or 811egLd Iraud", o I"he int¢Tnal of t%￿nditure.￿l.e also obiasntd Jn unders1anding of the Itfral and r¢8ulaior) (raJn￿￿orK. thal ilie organi531ion opeial.The Ireehold properties'Norris and Hackney Parish Almshouses Charity Notes to the financial ststements (continued) For the year ended 31 December 202S Monger House5. were valued at market value a5 at 28 July 2016 and are included in these financlal statements al that value. Inve￿ments Listed investments are a form of basic financial instrument and are initially recognised ai their transattion value and subsequently measured ai their fair value as at the balance sheet date using the closrng quoted market p¥ice. The charity does not acqui￿ pul options, derivative5 or other cornplex financial instruments. Realised gain5 lor losses) on investment assets are calculated as the difference between disposal pro￿d$ and their opening carrwng value or their purchase value il acquired subsequent to the first day of the financial year. Unrealised gains and 10$5es are calculated as the differènce between the fair value at the year end and their carrying value at that date. Realised and unrealised investment gains lor losse51 are Combined in the Statement of financial actimties and are credited lor debited) tn the year in which they arise. Other Investments are included at cost. which is considered to be approximate to their market value. Debtors Debtors are recoeni5ed at their settlement amount. less any provision for non-recoverability. Prepayments are valued at the amount prepaid. They have been discounted to the present value of the future cash receipl where such discounting is material. Cash at bank and tn hand Cash at bank ènd in hand represents such accounts and in5trurnent5 that are available on demand or have a maturity of less than three months from the date of acquisition. Liabilities and provisions Liabilities are recogni5ed when there 15 an obligation at the balance Sheet date as a resuli of a past event. it is probable that a transferof economic benefit will berequired in Settlement, and the amount of the settlement can be estimated reliably. Liabilities ale recognised at the amount that the charitable trust anticipates it will pay to settle ihe debt or the arnount it has re￿iVed 35 advanced payments for the goods of services it must provide. Provisions are recognised when the ch3rit3ble trust has an obli8ation ai rhe reporting dale as a result of a pasi eventwhich it is probable will result in the transfer ol econornic benefits and the obligation can be estimated reli3bly. Provisions are measured at the best estimate of the amounts required to settle the obligation. Where the effect of the time value of money is material. the provision is based on the present value of those amounts. discounted at the pre-tax discount rate that reftects the risks specific lo the liability. The unwinding of the discount is reco8ni5ed within interest payable and similar charges. Financial instruments The Charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initk31ty recognised at transaction value and subsequently measured at theirsettiemeni value. i.io Cyclical repairs and maintenance The Charity has established a regular programme of cyclical repairs and maintenance. Costs are charged to the revenue account in the year in which they a¥e incurred. i.ii Extraordinary repairs reserve and routine repairs reserve An èmount from the weekly maintenance conrribution 15 allocated to the extraordinary repairs reserve IRest¥icted fund). C05t5 of extraordinary repairs. unless representing improvemen15 to the propeities. are charged to the restricted fund in the year in which they are incur¥ed. 19 Hadrrtey Parish Almshouses Charity Notes tothe financial 5tatement5 Icontinued) For the year ended 31 December 2025 Other Income 3L122025 31.112024 Solar FIT ItKome 547 Other ItKorne 547 Tangbble fixed Assets Fymiiure & MoDV¥S Houses DrWiThlam Total Spursto 31.122025 Co#or revaluation At I lan 2025 2,333 2,985.(O) 11,465.riy) 11.1￿.(￿￿Jl 9.275,LX)O 14,452.333 12,Lg).Cthl 12 262,333 Less HCAGr3ni 2.333 2,985.rni Depre¢iation At ljan 2025 2.333 2,333 Charge in year 2,333 2.333 Nei ¢ostlwaluatw•at 31.12.2025 2.985,rix) 9.275.(#10 12,260,C Nei ¢osVvaluaiimai 2J85D)J 9.275,COI 12.260,1 31.12.2024 The charity owns three almshouses. Dr Spurstowe House and the Norris and Mongers Almshouse5. formerly of South Hackney Parochial ChaTity. The Norris and Mongers Almshouses were Iransferred to the ownership of Hackney Parish Almshouses Charity on 28.07.16. They were not previously valued in the accounts of South Hackney Parochial Charity but have since been valued at an open market value of £2.225,(XIO and £760,(xxJ respeclively. The transfer of the properties included a dowry of £270,000 for use in the event of the requirement to carry out emergency repair5 to rhe properties. The dowry 15 included in the restrirted extraordinary repair fund within these accounrs. Repair costs to the properties have been included in ihe income and expendiiure account in the year in which these were intyrred. Under the lem15 tkf the granl Feceived from Homes and Communilies Agency of £2.190,0(M) in respect of Dr Spurstowe House. some or all of the grant may become repayable in the future if certain terms are not adhered to. As at 31 December 2024 no liability ha5 been included within these accounts in relation to this as it is understood all terms have been adheTed to as at the date of approval. 20 Hackney Parish Almshouses Charity Notes to the flnarttial statements Icontinuedl For the year ended 31 December 2025 Investments COIF Z024 fund fimd Totsl Total Marker￿￿1ve 31.12.2024 499.960 1582.704 1082.664 1844.411 Purchases 66.757 65.W2 175.0Tr)1 L571706 131.759 I?5.(￿)} 1139,423 128,350 MDvement5 in year 566.717 2,900,73Q Sale5 1937.5(M)I 47,404 Net inve5trnentseain511hissesl 35.957 35.957 MarketvaluÈ31.112025 2.674 L.571706 2,175,380 2,082,664 C05131.12.2025 68.191 1.595.657 1.664.848 1.630,915 DebtrKs 31.IIZO15 3L12.ZOZ4 MaintertancÈcomribulton5 *7 arrears PrepaytnEllt5 13.927 8.296 14.519 22,223 15,408 Creditors- amounts falling due within one year 31.112025 3LIL20Z4 ounts tsllin8duewill*n 0￿￿.. Credito 29.285 24.275 9.480 25.296 38,765 49.S71 21 Ma￿neV Parish Almshouses Charity Note5 to the ftnancial statements Icontinuedl For the year ended 31 December 2025 Reconciliation of net incomellexpenditurel to net C35h flow from operating activities 20Z5 2024 Net lThwrne forthe reportinipÈriod perthe 5Uternent of finantkil a(tNitie5 166JIL 177.4 Adjusiment5for. IGainslllosse5 oTrin¥estments 135.9$61 147.4041 rhvidend5 andirtterest f¥om invemmwits 165.3491 184.5061 IlncrEaselldeuease indebiof5 15.2461 Inue3se/(decreasel in-L w o 7J O W￿V Hackney Parish Almshouses Charity Notes to the financial statements Icontinuedl For the year ended 31 December 2025 Analysis of fvnd 35sèts and liabilities UNestrKted fuTrd5 Re5trided ovAnent fund5 Captal 31.12.2025 Total T4nBib1Èr￿ed as5et5 Il260.CIXI I2.2￿,Or￿) FiYdassethi¥e￿n￿nts 111375 1.407.225 2.175.380 Curreniassets J5IW6 152,(K CLYrent Ivotyliues 134rn1 134.0801 230,301 655.780 13.732.22S 14,553.306 fund5 lur 31.12.2024 Tot41 pital TIn¥1b￿ fix& a5seis 12.260K( 12.260.( Fixed asset bnyestrn￿rs 84.559 s￿￿0 1.407.225 2.082.664 Current asseis 93.￿2 93.912 Current lialji111￿5 1495711 13.667.225 14.3B6,995 24 Hackney Parish Almshouses Charity Notes to the financial statements Icontinuedl For the year ended 31 December 2025 io. Charitable Activities- Property Costs Vnre5tricied fund ResbiLtedl¢ts¥J5 31112025 1rt•1<05ts G￿n(lIT3xènd Water rates 1.246 1.246 Light and Hear Repairsand mainienance warde￿ [￿an1￿% andEardening 164.927 7L210 236.137 46.4S9 46.459 6587 Resid2ni ￿ents 1.441 1.44t 224.269 71.210 295.479 Ufflre4tr*ted lund RtstrKied EndthYmer4Fund5 31112014 Totalwsts Countil faxand Waier rates eht and Heat Repair5 and maIntena￿e Warden, t￿￿Orn ndtsrdenins In5urant* 2.133 1133 6533 S.S33 IC6.393 64.7f 171.IS3 45562 45561 434 6.434 Reydeni events 1.220 168.275 64.78) 233.035 25 Hackney Parish Almshouses Charity Notes to the financizl statements Itontinuedl For the year ended 31 December 2025 ii. Charitable Activities-5upport and Governance Costs unffesirk-ted f￿￿5 31.IZ.2025 Tot41 lunds ExtsatYdSr4ry funds AlmshoLt5e 17x13 17 Ckrk'5 ieffluneraiion 4012 29.012 AccountèrKy AudrtThearend Attljunts Legal and ofe55ional 11524 I2￿14 7.140 Surtdryexp￿SeS s.￿? 5.867 Bankthar8es 5ubscripiion5 1109 2.109 Tiustee irfjw3rfe 654 74.489 7.140 81.629 31.12.ZQ24 Toral n05 EAtrarydinary l￿d5 cawal mshoL management c￿rk'S retnllnera￿n 17m4 17D14 18.987 2&987 AttfvJniancv AudiWearEnd Accounts LeEa1 ky0re5￿oThal 5undryexpense5 11.963 11.S*3 4.195 4.1 Bankcharge5 subscry￿nS 1.6J5 1.615 Trustee insula 610 610 69.149 75.789 The costs are allocated to operatin8 activities in strict accordance with its expenditure policy 11.31 and reseTye5 policy li.iil. 12. Payments to trustees No trustee5 received any remuneration from the tharity during rhe year 12024.. Nill. Travel expenses amounling to Enil12024.. £nill were reimbursed to no12024-. 01 trustees. The Charity considers its key management personnel comprise the Trustees. During the year, a gift ol flowers costing E48 was given to Joannie Andrews, Trustee. lor recognizing their retirement. There were no other gifts in the year. The total employment benef1ts. including employer pension Costs of key rnanagemenl personnel were Enil12024= £nill. There were no employees in this charity in 202412024.. Nill. 26 Hackney Parish Almshovses Charlty Notes to the financial statements Icontinuedl For the year ended 31 December 2025 13. Related party transactions The following related party ir3nsactions occurred during the financial year ended 31 December 2025. London Borough of Hackney (related party through common tiusteeshipl £4.820.93 (various expense51 14. Contingent liabilities During the year ended 31 Decernber2013 thesecond cawtal granl of £1,095.000 was received from Homes and Communities Agency IHCAI. taking thetotal grant to £2.190,1￿). ThiswBs a contribution toward5 the redevelopment ol Dr William Spursiowe House. Under the terms of Ihe grant some or all of ihegrant may become repayable in the future if certain rerms are not adhered to. As at 31 December 2025 no liability has been included within these accounts in relation to this as it is understood all term5 have been adhered to as at the dale of approval. 15. Share capttal Hackney Parish Almshovses Charity is a company Irmited byguarantee and does not have any share capital. The companycurrentty has 11 member5 and their indwidual liability towards the cornpan(s debts is limited to £1 in Ehe event of the company bein8 wound up within 12 months of trasinE to be a member. 16. Capltsl Commitments As at 31 Decembe¥ 2025. Hackney Parish Almshouses Charity had no contracted capital commitments or capital expenditure authorized by the Trustee but not yet contracted12024.' Nill. 17