Registered number 07568820
Charity number 1143234
Registered Social Landlord number A0513
JOHN BOWLEY
AND SHERWOOD ALMSHOUSES
(A COMPANY LIMITED BY GUARANTEE)
REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED
31 DECEMBER 2024

JOHN BOWLEY AND SHERWOOD ALMSHOUSES
CONTENTS
Page
Legal and administrative irrfomalion
Trustees, report
Independent auditors, report
10-12
Statement of comprehensNe income
13
Stslement of changes in reserves
14
Statement of financial position
15-16
Sialement of cash flows
17
Note5 to the financial slalemenls
18-26

JOHN BOWLEY AND SHERWOOD ALMSHOUSES
LEGAL AND ADMINISTRATIVE INFORMATION
Company regl8tratlon number
07568820
Charity regiytration number
1143234
Charity linked by uniting diredion
210959
Trustees
Cllr R Wallace
Mrs R l Braid
Mr T S McNeice (Chairman)
Cllr R West
Mrs P West IDeceased 6 April 2024)
Mr N Jones
Cllr P Bingham
Cllr R Shoob
Mr D Burton
MYS J Todd
Mrs Ind
Mrs M Lawes
Company secretary
Mrs T Pearson
Scheme manager
Mrs T Pearson
Reglstered offlce
Hgnwood House
Henwood
Ashford
Kent
TN24 8DH
Bankers
CAF Bank
25 Kings Hill Avenue
Kings Hill
West Malling
Kent
ME19 4JQ
Audltors
Magee Gammon Corpor* Limiied
Henw¢)od House
Henwood
Ashford
Kent
TN24 8DH
Page i

JOHN BOWLEY AND SHERWOOD ALMSHOUSES
TRusfEES' REPORT (continued)
FOR THE YEAR ENDED 31 DECEMBER 2024
The tr￿￿ee$ present their report and financial 8tslement8 for the year ended 31 December 2024.
Constltutlon
The John Bowley and Sherwood Almshouses Charity (charity number 2109591 was consliluted under a
scheme documgnl dated 14 March 2007. During the year ended 31 December 2012, the trustees undertook
the process of incorporation and all assets and liabilf(ies of the charity, exeepl those relating lo donations
made under permanent endowment, weie transfeTred lo the new wrporale body (company registration
number 075688201.
The corporate charity. also known as John Bowley and Sherwwd Almshouses, was registered with tho
Charity Commission and issued with a new charity number, 1143234. John Bowley and Sherwood
Almshouses Icharty numb$r 11432341 is constituted under a Memorandum of Association dated 17 March
2011.
The assets donated lo John Bowley and Sherwood Almshouses {charty number 210959} under pem)anent
endowment remain in that charity. Under a uniting direction, John Bowley and Shemood Almshouses
Icharity number 2109591 is linked lo John Bowley and Sherw¢Jod Almshouses (charity number 11432341 as
a constituent charity (charity number 1143234-1. The financial statements therefore refflect the financial
tranSaCt￿nS relating to both Chairties.
The John Bowley and She￿￿0d Almshouses is a Registered Soctal L8ndloTd.
Trustees and Governance
The Gharity is overseen by the trustees, who meet 81 lea￿ four limes a year. Thgy make all decisions
regarding the conduct of the charty bul the daY-t(￿daY administration is undertaken by the scheme manager.
Resident representatives from John Bowley House and the Sherwood Trust Homes attend the quarterty
trustees, meetings. The trustees who served during the year were as follows-.
Mrs Rosemary Braid Icwted)
Mr Thomas McNeice (Co-opted)
CIIT Roger West.
Mrs Pal Wesl Ico-opled} {Deceased 6 April 2024)
Cllr Richard Wallace"
Mr Neil Jones Icovopled}
Cllr Paul Bingham '
Mr David Burtort {CO<Jptedl
Mrs Jennifer Todd (co-OPted}
Mrs Mary Lawes.
Mr Stephen Ind {co-Opt￿l
Cllr Rete￿a Shoob Icowopledl
Appointment of trustees
Under the MemoTandum of Assoei81ion dated 17 March 2011, the minimum number of trustees pemiitted is
four, but there is no maximum. The trustees and members (as defined in Ihe Memorandum of Associalionl
have the power lo appoint new trustoes. There were four nominatèd trustees {mat*ed ' above) appointed by
Folkestone Town Council, although there was no requirement for them to be town councillors. There were
eight co-opted trustee5 appointed by the twslees.
On joining the board. trustees are given copies of the Memorandum of Association, Ihe Schemè Document.
Good Governan￿ A code for the Communty and Voluntary Sector, the latesl audited accounts, the latest
budget report. and minutes of recent trustees, meetings.
Wrthin twelve months of joining the date of appoinlmgnl, 50% of the trustees must retire by rotation. Being
eligible, retiring trustees can offer themselves for re-electKJn.
Page 2

JOHN BOWLEY AND SHERWOOD ALMSHOUSES
TRusfEES' REPORT (continued)
FOR THE YEAR ENDED 31 DECEMBER 2024
Membership of the trustee body is reviewed anftuaI￿ as per the Charity Govemance Code adopted in July
2024. Four of the tru$lees have Served longer than nine years and their skills are still essential lor the
smooth running of the tharty. One k)ng serving trustee was reappointed by the Town Council and three
were co-opted.
Mlsconduct
The Iruslees have no financial interest in Ihe conduct of the charty. Other interests, whtch may arise from
time to time, such as the appolnlmenl of a relative of a trustee as a resident, aTe provided for in detailed
Regulation5 that are reviewed and approved by The Regulator for Social Housing. All affairs and
transactions of the trustees are open to public scrutiny with the exception of the personal affairs of residents.
All accounts aTe preparod and scrLrtinised by qualrfied £ccountants and independent auditors.
Objectlves of the charlty for the publlc benefft
The objectives of the charity are the provision of housing accommojation for persons in need, hardshlp or
distress residing or having immediate famity residing in or near Folkeslone, with a preference for those who
are members of the Church of England. Those persons in need may be individuals of either sex. or a couple
without discrimination towards civil partnerships.
The trustees conflm that they have referred to the 8dMce contained in the Charity Commission's general
guidance on public benefit when review(ng the charty's aim and oblectives, and in planning future acEivitigs.
A¢hlevements and Perfomiance in the year and Future Plans
A. Achlevement and Perfoman¢e 2024
al Summary
The charty continued to provide affordable well- maintained accommodation for people in Folkestonfj.
Two properties became vacant during the year. Demand for almshouse properties remained high.
because of the excessive cost of renting in the Pfivale sector. The void$ figure for year was only 2.1%.
despite the vacancies.
Work lo replace the Fire Doors in John Bowley House was completed in 2024. The trustees also
replaced one intemal Crittall window and one door with modem double-glazed units al the bungalows.
replaced the front d¢)or of John Bowley House, added CCTV lo John Bowley House carpark and front
garden areas and replaced 3 consumer units. Work to replace one bathroom for one resident was
r¢feTred to Social Service5 for a Disabled facilities Grant.
b) Approach to Environmental Concerns
The trustees continued to look at measures reduce the carbon footprint of managing the properties and
ontinued supptying eeo- friendty products for cleaning the communal areas of John B¢)wley House.
With help from Kent County CoLEncil the trustees added two 800 litre water storage containers to the
SheNood Tiusl Homes to reduce dependenw on main fed water for watering gardens.
cl Community Working
The ChaTrty continued working with local organisation like 'lncredible Edible Che￿lon and Broadmead,,
Hythe Hops and Cherilon Christmas Light and is represented al Di51riGt F¢)od Nthork meeting8 and
CheTiton Communty meetings.
Pèje 3

JOHN BOWLEY AND SHERWOOD ALMSHOUSES
TRusfEES' REPORT (continued)
FOR THE YEAR ENDED 31 DECEMBER 2024
d) Management and Flnance8
All fire safety measures recommended at John Bowley House by Kgnl Fire and Rescue SeNiGe in
January 2023 have been addressed and the Charity is now follow¢ng the Housing Ombudsman's
Complaint Handling Code. Th& &heme Manager completed a level 4 Housing QUalificat￿n with the
Chartered Institute of Housing.
B. Plans for 2025
11 Building$
The trustees aim to modernise the tsvo (emaining bathrooms at John Bowley House.
The program of works to replace faulty double-glazed windows will Continue as needed lo
cut dTaughts and reduce overall healing cost5.
Money will be held in reserve to improve the properties as vacancies arise.
One boiler will bo replaced wf(h a eombi boiler to reduce healing cost and reduce Tisk of
legionella from water held in tanks.
The SheN4ood Bungalows will be re-pointed.
The rem8ining coping stones will b8 replaced on the raised bads at the bungalows.
The trustees will ensure recommendations in th¢ QLbinquennial Inspections are addressed.
Incidences of mould and damp will be tackled as a top priorty by reducing cold sPOt5 Ill
buildings where water vapour ean condense, use of mould pfoof paints, and ensuring older
style bathroom exiTaclors are replaced wth humidislal extractors.
Two 800 litre water storage butts will be added to the Sherwood Bungalows lo reduce
dependency on mains fed water.
ii) Communlty Links and Environment
The Trustee5 will continue working with the organiser5 of the District Food Ne￿orff, the
Cherilon Lights Festwal. the Cherlton Chrislm8s lights, Hythe Hops and 'lncredible Edible
Cherilon and Broadmead,.
Biannual residents. meetings will be bookgd.
The Trustees will wntinue lo support FHDC maintaining the land adjacent to the bungalows
for the benefit of wildlrfe.
The Iruslees wll continue to look at measures to inGrease water catchm8nl.
1111 Management and Finances
Scheme Manager to complete a level 5 Housing Qualification if required.
Tru51ees to investigate implementing Service Charges for residents.
Flnanclal rnview
The charity is mainly funded by the weekly maintenance contributions receivable for the letting of the Iwelve
flats at John Bowley House, and the fouT bungalows at she￿Ood Trust Homes. The total weekly
maintenance contributions received durirbg the year amounted to £116,289 an increase of £9.922 over the
prior year.
John Bowley House weekly maintenance contributions at the énd of the year stood at either £143 or £132.87
per week for each of the eight single bedroom flats, and £146.29 for each of the four two-bedroom flats. For
she￿0d Trust Homes, the weekty maintenance contributions for each of the four bungalows at the end of
the yeaT stood al £116.34, £132.87 and £143 per week (depending on the property). These figures exclude
the 'lntensive Housing Management, Inon-rent elemontl charge subsidvzed from Housing Benefft.
Page 4

JOHN BOWLEY AND SHERWOOD ALMSHOUSES
TRUSTEES, REPORT (continued)
FOR THE YEAR ENDED 31 DECEMBER 2024
Pollcy on resebves
In accordanee with the fomial roserves policy, the ¢harity sets aside money in an extraordinary repair fund
and a cy¢li¢al repair fund. Reserves are being held lo pay for any large, unexpected building costs, such as
window upgrades. updating heating systems and measures required to eombat cllmate change. The charity
maintains reserve funds lo meet unforeseen expendf(ure at least equivalent to one month's income. AS
balances permit, il seeks lo add to ils funds, which are invested in appropriate stocks in accordance with the
National Scheme for Almshouses to meet long lemi capital replacement costs. The Trustees will also put
aside funds in short term l)onds.
Investmgnt polity
The chanty maintains no investments other than those referred to under the"Policy on Reserves"
Major risks
The charty provides two Almshouse buildings, which are usually oG¢upied fulty by residents that it appoints
in accordance with the eTileria laid down. Risks are those typically associated with the buildings, those
arising from the Conduct of its appointed residents, and those from the misconduct of the administrator, the
scheme manager and the trustees. In these matters, the trustees are subject lo regulation and annual
scrutiny by The Regulator for Social Housing, the Charty Commission and the Housing Ombudsman.
Building risks
The charity has comprehenswe insurance cover lo provide for risks to the fabric of the buildings and the
replacement of fixiures and fittings damaged. other than by normal wear and lear. along with specific
insurance cover for the scooter shed at John Bowley House. The quinquennial inspection was undertaken in
2023 and the insurance is kept under review. The Iruslees, insurances include cover for legal ¢osls arising
from action5 which may be brought against them and Tisks lo thiTd parties.
Residents. risks
On appointment, residents are required to sign an agreement, in a fomi common to Almshouses in the
United Kingdom, setting out the limits of their personal liability and restrictions on their use of the pr¢)pety so
that the interests of the Ifuslees and other residents may be protected. Residents are thised to lake out
insurance for their own bélongings.
In rn0￿ recent years one of the major risks 15 from residents who are Increasing￿ frail or who have
dementia. The John Bowley and SheNood Almshousgs do not have the resources lo care for people as
they become frailer and support for these people in the communty is limited.
Value for Money IVFMI
Introdurtlon
This report sets out our VFM performance looking back over 2024 and provides QUT VFM targets going
forward. It aims to provide tho reader with a Iran5parenl account of we aro striving lo make the
most of the resources at our disposal in the pursuit of our strategic obj8Ctives. We positively encouraue
feedback and challenge from our customers and otheT Stakeholders on our VFM performance. The
report is slruclured to meet the requirements of the RSH'S VFM standard with which we musl comply as
Registered Provider.
Page 5

JOHN BOWLEY AND SHERWOOD ALMSHOUSES
TRusfEES' REPORT (continued)
FOR THE YEAR ENDED 31 DECEMBER 2024
Our corporate objectlves & how we measure 8uccess
Our strategic objectives aim lo delNer our social purpose. Thg objectives therefoTe reflect the value we
are seeking lo maximise in the context of VFM. To measure our success, we have sel metrics against
our objectNes'.
Provlde good quallty, Safe. sg¢ur• housing
Improvement to EPC ratings IE TeqU1￿ment by government)
R8sponse lime for Emergency repairs Iwi(hin 24 hours)
Health and safety complianee melricg (Gas safety checks, LOLER inspections, fixed wiring
checks, PAT testing, fire alarm lestsl lifeline checks and rectrfying problems)
Affordable weekly maintenance tharges compared to market rentals
Ensure damp and mould problems are addressed promplty
Support Dignlty and Independènce
Number of residents living indepent1ently in the almshouse$.
NLTrmber of residents maintaining thelr independence with the aid of families and Ca￿rs.
Residents, views considored and
Resident inVo￿ement in decision making via attendance at trustees, meetings.
Cornmunity Investment4naklng communltles work by improving tho local quality of Ibfe
o Active involvement in community events
o Resident satisfaction surveys
o Feedback from partner OTganisation5
Our approach to Investmgnt
Key contextual considerations frame our approach to investing in tyjr ob3'ectives. They include..
Maintaining the buildings lo ensure the Safety of the residents and to comply with legislation
Appointing new residents Ibeneficiariesl in accordance wlh the trust deed
Managing and maintaining the buildings lo a high standard in order to meet the standards sel by
the Almshouses Association. the Charity Commission, the Housing Ombudsman and the
Regulator for s￿la( Housing
Maintaining a list of sui18bly qualified suppliers and contractors
Taking into account residents, feedback and SLigge5tions
Maintaining reserves and future planning
Appertaining to these considerations. our approach to Investing in our objectives is as follows..
al To maintain existing stock and service5.
bl Ensure the safety and security of residents and properties.
c) Regularly review and implement environmental measures lo reduce C02 emissions and use ol
harmful products.
Page 6

JOHN BOWLEY AND SHERWOOD ALMSHOUSES
TRUSTEES. REPORT (continued)
FOR THE YEAR ENDED 31 DECEMBER 2024
Mgasuring VFM
Our strategic success measures above are key lo us undwstanding Our value as expressed by output5
and outcomes. However, lo fully understand VFM. we use a wider sel of indicators. 11 help$ us
understand not only what we are achieving but how well the delivery system is working. It incorporates
our strategic mgtr5cs and targets, as well as RSH metrics.
Value for Money Metrics
Metric
RSH
Actual 2024
Target
2025
Global
accounts 2024
7.7%
Metrics
Reinvestment %
New Supply Delivered %
yes
yes
0%
oy.
New Social Housing Supply
yes
0%
1.7%
New Non- Social Housing
Supply
Gearing %-Debt as a % of
Assets
E8ITDA MRI Interest Cover %
yes
0%
0.2%
ye5
46%
yes
122%
Headline Soclal Houslng Cost
per Unlt
Operatlng Margln % Soclal
Houslng
Operating Margln %- Overall
Return on Capftal Employed
{ROCEI %
WMC increases (including
servlce charges)
Rent Loss from Volds
Bad debts for the year
Resident Arrears
Turnover RSL
EPC Rating'c, and above
Resident Participation in
Decision Making
yes
£7,691
£8,382
£5.800
yes
0.5%
0.2%
20.4%
yes
yes
0.5%
0.1%
0.2%
0.0%
18.5%
2.8%
no
9.83%
25%
no
2.1%
£nil
no
£nil
5%
£113,550
93.75%
50%
no
no
£116.289
93.75%
50%
no
no
P4e7

JOHN BOWLEY AND SHERWOOD ALMSHOUSES
TRusfEES' REPORT (continued)
FOR THE YEAR ENDED 31 DECEMBER 2024
Our VFM perfomiance In 2024
The VFM dashboard in section 4 identifies the VFM tsrgets for 2024 against our strategic objectives.
Overall, the charity performed well against global account metrics. The charity used ils resources to
maintain the properties to a high standard rather than acquirSng new units. This strategy is unlikely to
change In 2025. Most income is derived from Housing Benefit and paid dired to the landlord. The
charty has foGus5ed on maintaining the properties al the Decent Homes Standard over the past year.
It will be difficult lo make any Improvements to EPC ratings as latest EPC certfficates do not have
recommendations th81 could raise ratings further.
Residents continued to be invited to Iru5tees' meeting5. Oniy John Bowley House was represented due
to the health of the residents at the bungalows. All residents were however surveyed and a summary of
the survey ha5 been published on the chaTSys website in line with legislation.
VFM targets golng forward
Our foNard targets are set out in the labb at section 4. Raising EPC targets will be deperbdent on the
cost and reliability of new technology as well as the opportunty to relrofrt properties when they are
vacant.
Statement of Trustees, Responsibiliti
The registered housing legislation requires the Irustees to prepare financial sl8lements for each financial
year whi¢h give a true and fair view of the state of affairs of the charity and of the surplus or deficit for that
period.
In preparing these financial statements. the trustees are required to-
select suitable accounting policies and then appty them consistently..
make judgements and estimates that are reasonable and prudent..
slate whether applicable accountlng standards have been followed.
subject lo any mal8rial departures dlsdosed and explained in the financial statements.,
and prepare the financial statements on the going concem basis unles5 it 15 inoppropriate to
presume that the charty will continuo in business.
The trustees are responsible for keeping proper accounting records which disclose wilh Teasonable accuracy
al 8ny time the financial position of the charity and enable it to ensure that the financial slalemenl$ comply
with the Housing and Regeneration Act 2008 and The Accounting Direction for Social Housing in England
from April 2015. The trustee5 have general responsibility for taking reasonable steps to safeguard the assets
of the chanty and lo prevent and delect fraud and other irregulariltes.
The trustees are responsible for the maintenants and integrity of tho Gorporale and financial information
included on the charity's website. Legislation in the United Kingdom goveming the preparation and
dissemination of finort¢ial statements may differ from legislation in otherjurisdiclions.
Page 8

JOHN BOWLEY AND SHERWOOD ALMSHOUSES
TRUSTEES. REPORT (continued)
FOR THE YEAR ENDED 31 DECEMBER 2024
Statement of dis¢losure of Infomiatlon to auditor&
We, the trustees of the charity who held office at the (late of approval of these financial statements as set out
above each eonfim, so far as we are aware, that..
there is no relevant audit inform*ion of whkh the charty's auditors are unaware.,
and we have taken all the steps we ought to have taken as trustees ofder to make ourselves
aware of any relevant audit infomation and to establish that the chaTty's auditors are aware of
that information.
This report has been prepared having taken advantage of the small companies exemption in the Companies
Act 2006.
The Trustees. Report was approved by the trustees on 23 July 2025 and signed on their b8haW by..
RE
Mr T S MGNeice
Trustee
Mrs R l Braid
Trustee
Page 9

JOHN BOWLEY AND SHERWOOD ALMSHOUSES
INDEPENDENT AUDITOR'S REPORTTO THE TRUSTEES OF
JOHN BOWLEY AND SHERWOOD ALMSHOUSES (continued)
Oplnlon
We have audited the financial statements of John Bgwley ar￿ Sherniood Almshouses (the 'char￿Y') for the
year ended 31 Decomb¢r 2024 which comprise the statement of comprehensive income, the statement of
changes in resetwes, the statement of financial position, the statement of cash fl¢M and the relatecl notes.
The financial reporting framework Ihal has been applied in their preparation is applicable law and United
Kingdom Accounting Standards. including Financial Reporting Standard 102 'The Financial Reporting
Standard applicable in the UK and Republic of Ireland, (United Kingdom Generally Accepted Accounting
Practice).
The financial slalements have been prepared in accordance wrth The Accounting Direction for Private
Registered Providers of Social Housing from Apr¢1 2015 and the Slalemenl of ReCom￿￿nded Practi
ISORPI Accounting by registered soc¢al housing providers lupdaled 2018).
This has been done in order for the accounts to provide a true and fair view in &cord8nce with the Generally
Accepted Accounting practi￿ effeclwe for reporting periods beginning on or after 1 January 2019.
In our opinion the financial slatemenls..
gNe a true and fair view ot the stsle of the charty's affairs as at 31 De¢8mber 2024, and of 115
incoming resources and application of resources, including rts incomo and expenditure, for the year
then ended..
have been properly prepared in accordance with United Kingdcqn Generally Accepted Accounting
Practice,. and
have been Prepared in accordance with the Charities Act 2011, the HoLEsing and Regeneration Act
2008 and The Accounting Direction for Social Housing in England from April 2015.
Basis for opinlon
We conducted our audit in accordance with Inlernallonal Standards on Auditing (UK) IISAS IUKI) and
applicable law. Our responsibilities under those standards are further described in the Auditors,
responsibilities for the audit of the financial statements section of our report. We are independent ol the
charity in accordance with the ethical requirements that are relevant to our audit of the financial statements
in the Unite(f Kinydom, including the Financial Reporting Council's Ethical Standard, and we have fulfilled our
other ethical responsibilities in accordance wtth these requirements. We bolieve that the audit evidence we
heve obtained is sufficient 8nd approprhgte to provide a basis for our opinion.
Conclusions relatlng to golng concern
We have nothing to r8POrt in Tespecl of the followtng matters in rel*ion lo which the ISAS {UK) require us to
report lo you where..
the trustees, use of the going concern basis of accounting in the preparation of the financial
statements is not appropriate. or
the trustees have not disclosed in the financial statements any identifigd material uncertainttes that
may cast signfficant doubl aL)oul the charity's abilty lo continue to adopt the going concern basis of
accounting for a period of at least twelve months from the date when the financial ststements are
aulhorised for issue.
Other Infonnatlon
The trustees are responsible for the other infomiation. The othef infoThnalion comprisès the information
included in the Annual Report, other than the financial slalements and our Auditors. Report Ihereon. Our
opinion on the financial statements dces not cover the other information and. except to the extent otherwise
explicTtty stated in our report, we do not express any fomi of assurance conclusion the￿on.
Page 10

JOHN BOWLEY AND SHERWOOD ALMSHOUSES
INDEPENDENT AUDrroR'S REPORT TO THE TRusfEES OF
JOHN BOWLEY AND SHERWOOD ALMSHOUSES (continued)
In connection with our audrt of the financial statements, our responsibility is lo read the other infomiation
and, in doing so, consider whether the other infomalion is materially inconsistent with the financial
statements or our knowledge obtained in the audit or otherwise appear8 to be materially misstated. If we
idenlrfy such material inconsistencies or apparent material misstatements, we are required to detemine
whether there is a material misstalemenl in the financia5 slalements or ? material mis5tatemenl of the other
information. If, based on the work we have perfomed, we conclud& that there 1$ a material misstatement of
Ihis other information, we are required lo report that fact.
We have nothing lo report in this regard.
Matters on whlch we are requlred to report by exception
We have nothing to report In respect of the following maiters where the Charities (Acmunls and Reports)
Regutations 2008 requires us lo roport to you rf. in our opinion..
the infomation given in the Trustees, Report is Inconsistent in any material respect wlth the financial
8tatemenls', or
$Lrfficient accounting records have not b88n kept; or
Ihg financial Statements are not in agreement with the accounting records and relums,. or
we have not received all the infomialion and explanations we require for our audit.
In addilron, we have nothing to report in respect of the following matter whgre the Housing and Regeneration
Act 2008 requires us to report to you IF. in our ppinion..
a satisfactory system of control over transacti¢)ns has not been maintained.
Responslbllltles of trustees
As explained more fully in the ststemenl of trustees, responsibilities set out on page 8, th8 Iruslees are
responsible foT the preparation of the financial statements and for being satisfied that they give a true and
lair view and for such internal control as the trustees detemine is necessary to enable the preparation of
financial statements that are ffee from material misstslem¢nl, whether due to fraud or error.
In preparing the financial slalements, the trustees are responsible for assessing the Charty's abilty lo
continue as a going concern, disclosing, as applicable. matters related lo going concern and using the going
concern basis of accounting unless the directors either intend to liquidate the Charity or to cease operations,
or have no realistic allernativg bul to do so.
Auditors, Tesponslbllltles for the audit of the finan¢ig1 statements
OLsr objectives are lo obtain reasonable assurance about whether the financial stslornenls as a whole are
free from material misslatemenl, whether due to fraud or error. and to issue an Auditors. R¢port that includes
our opinion. Reasonable assurance is a high level of assurance but is not a guarantee that an audit
onducted in accordance with SSAS {UKI will always delect a maleTial misstatement when il exists.
Misstalgm&nts can arise from fraud or error and are considered material rf, individually or in the aggregate,
they could reosonably be expected to influence the economic ijecisions of users taken on the basis of these
financial slalements.
IrregLÈlarilies, Including fraLKJ. are instances of non<ompliance with laws and regulations. We design
procedures irt line wlh our responsibiif(ies, outlined above, to delect material misstatements in respect of
irregularities. including fraud. The extent to which our PTocedures are capable of detecting irregularities,
including fraud Ès detailed below..
Pa9e 11

JOHN BOWLEY AND SHERWOOD ALMSHOUSES
INDEPENDENT AUDITOR'S REPORTTOTHE TRUSTEES OF
JOHN BOWLEY AND SHERWOOD ALMSHOUSES (continued)
Capablllty of the audit in detecting irregularities ¥ncludlng fraud
Based on our understanding of the Charity, we have considered those laws and rogulations that have a
direct impact on Ihe preparation of the financial statements such as the Charities Act 2011. We evaluated
management incentives and opportunrties for fraudulent manipulation of the financial slalements including
management override. and considered that the principal risk was related to the posting of inappropriate
journal entrios to improve the result before tax for the year.
We designed audit procedures lo respond lo the risk. recognising that the risk of not detecting a niaterial
misstatement due lo fraud is higher than the risk of not detecting one resulting fiom error, as fraud may
involve deliberate concealment ty, for exampte, forgery. misrgpresenlalions orthrough collusK)n.
Procedures performed by the audit team included..
Discussions with management regarding known or SLFspecled instances of non-complian￿ with laws
and regulations.,
Evaluation of controls designed to prevent and detect irregularities.. and
Assessing journal entries as part of our planned audit approach.
There are inherent limitations in the audit procedures described above, and the fijrther removed non-
compliance with laws and regulations is from the events and transactions reflected in the financial
slalements, the less likety we would become aware of it. As in all of our audf(s wo also addressed the risk of
management override of intemal controls, including testing joumals and evaluating whether there was
evidence of bias by the directors that represented 8 risk of material misstatement due to fraud.
A further description of our responsibilities for the audit of the financial statements is located on th8 Finon¢ial
Reporting Council's websf(e at.. www.frc.org.ukjauditorsresponsibilf(ie$.
This description form5 Part of our auditorfs reporL
Magee Gammon Corporale Limited 1$ eliglble for appointment as auditor of the charity by virtue of its
eligibility for appointment as auditor of a company under section 1212 of the Companies Act 2006.
Use of our report
This report is made solely to the charity's trustees, as a body, in a￿ordanCe with Part 4 of the Charities
(Account and Reports} Regulations 2008 and section 137 of the Housing and Regeneration Act 2008. Our
audit work has been undertaken so that we might Slate lo the charity's Iruslees those matters we are
required to state lo them in an auditorfs report and for no other purpose. To the fullest extent permitted by
law. we do not accept 01 ossume responsibility to anyone other than the charity and ils Iruslee5 as a body,
for our audit work, for this report, or for the opinions we have formed.
Mr Andrew J Chllds FCA (Senior Statutory Audltorl
For and on behalf of Mageo Gammon Corporate Llmited
Chartered Accountsnts
Statutory Audltor
Henwood House
Henwood
Ashford
Kent
TN24 80H
Dale-
Pèje 12

JOHN BOWLEY AND SHERWOOD ALMSHOUSES
STATEMENTOF COMPREHENSIVE INCOME
FOR THE YEAR ENDED 31 DECEMBER 2024
Notes
2024
2023
Tumover
118.608
108,686
Operatlng expendlture
Management expenses
Repairs and maintenan¢¢
servi￿ costs
71.249
41.156
6,821
36,585
7,298
{119,226)
1108,8491
16181
1,205
1163}
2.224
Otherincome
Operatlng surplu5
587
2.081
Interest receN8ble and other income
2,462
2,916
Surplus for the year
3,049
4.977
Revaluation of investments
13
740
2,858
Total comprehenslve inctsme for
the year
3.789
7,835
On behalf of the truslees..
Mr T S McNelce
Trustee
Mrs R l Brald
Trustee
Pwje 13

JOHN BOWLEY AND SHERWOOD ALMSHOUSES
srATEMENT OF CHANGES IN RESERVES
FOR THE YEAR ENDED 31 DECEMBER 2024
Revenue
Reserves
Designated
Reservgs
Restrlcted
Funds
Total
Balance ot 1 January 2024
490,027
203.OCQ
49.850
742,877
Surplus I Ideficitl from
slalement of comprehensive
income
27,167
{24.378)
1,000
3,789
517,194
{23,3781
178,622
24.378
50,850
11,000}
746,666
Transfer be￿n funds
Balance at 31 December 2024
493.816
203.000
49,850
746,666
Pwje 14

JOHN BOWLEY AND SHERWOOD ALMSHOUSES
srATEMENT OF FINANCIAL posrrIoN
AS AT ENDED 31 DECEMBER 2024
Notes
2024
2023
Flxed as$gts
Tangible fixed assets
Investments
12
13
790,747
48.263
8C6,629
47,523
839,010
854,152
Current assets
Trade and other debtors
Cash and cash equivalent5
14
S,626
73,362
9,517
62,383
78.988
71.900
Creditors: amounts falllng due
within one year
15
{8,978)
{18,502)
Ngt current assgts
70.010
53,398
Totsl assets lèss cuftent liabilities
909,020
907,550
Creditoys: amounts falllng due
after more than one year
16
1162.3541
1164,6731
Totsl net assets
746,666
742.877
P8ge15

JOHN BOWLEY AND SHERWOOD ALMSHOUSES
srATEMENT OF FINANCIAL POSITION (continued)
AS ATYEAR ENDED 31 DECEMBER 2024
Notes
2024
2023
Reser¥es
Revenue reserve
Designated reserves
Restricted reserves
493,816
203,000
49,850
490.027
203,000
49,850
18
746,666
742,877
The company's financial statements have been prepargd in accordan￿ with the provisions ap￿Kable to
companies subject to the Small companies regime.
For the year in question, the charitable company was entitled lo exemptlon from an audit under section 477
of the Companies Act 20C6.
The members have not required the charitable company lo obtain an aud¢t of ils accounts for the year in
question in accordan￿ wf(h the section 476 of the Act.
The trusteesldirectors acknowledge their responsibilities for Gomplying with the requirements of the
Companies Act 2006 wf(h Tespècl lo accounting records and the preparation of accounts.
These financial statements were approved by the Iru$le85 and OLrthorised for issue on 23 July 2025.
On behalf of the trustees..
MrT S McNei¢g
Trustee
Mrs R l Braid
Trustee
Company Registration No. 07568820
Charity Reglstratlon No. 1143234
Reglstered Social Landlord No. A0513
Page 16

JOHN BOWLEY AND SHERWOOD ALMSHOUSES
STATEMENT OF CASH FLOWS
FOR THEYEAR ENDED 31 DECEMBER 2024
Notes
2024
2023
Ngt cash generated from operatlng actlyltles
20
13.431
22,481
Cash flow from investing actlvltles
Purchase of tsngible fixed assets
Interest recewed
(3,8231
1,371
176.0691
1,763
10,979
(51.8251
Cash ftow from financlng actlvltles
Interest paid
Repayment of borrowings
Net change In cash and c•$h ¢qulvalonts
10,979
151.8251
Cash and cash equivalents at beginning of the year
62,383
114,208
Cash and cash equlvalents at end ol the year
73.362
62,383
P￿e 17

JOHN BOWLEY AND SHERWOOD ALMSHOUSES
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
1. Accountlng policigs
1.1 Basls of preparation
The Charity is incorporated under the Companies Act 2006. The charty is a registered charlty In
accordance with the Charities Act 2011 and is a registered provider of social housing. The Gharity
constitutes a public bonefrt entity as defined by FRS102.
The financial statements have been prepared in accordance wfth applicable United Kingdom financial
reporttng stsndards, the Housing SORP 2018., Statement of Recommended Practice for social housing
providers. and with The Accounting Delemiinalion for Soclal Housing in England from Septembw 2018.
The accounts are prepared In accordance with the historical cost basis of accounting except a5 modified
by the revaluation of investments and Certain fixed assets.
1.2 Fund accountlng
Revenue reseryes are unrestricted reserves which are available for use at the discretion of the Iruslees
in furtherance of the general objectives of the charity and which have not been designated for other
purposes.
Designated reserves are part of unrestricted reserves which have been ea￿arked by the trustees for
particular purpose. Such designations may be reversed by future trustees. decisions. Expenditure
cannot be directly sel against designated reserves bul is taken thiough the income and expenditure
account. A transfer is then made from designated reserves as apprcpriale.
Restricted rese￿e8 are those resoTves which are only expendable in accordance with the wishes of the
funder or regulatory body. Reslricled reseNes include funds raised in response to a specrfic appe81.
Expenditur6 cannot be directly set against restricted reserves bul is taken through Ihe income and
expenditure account. A IransfeT from restricted reserves 15 then made as appropriate.
Where a restricted resgrve is represented by assets that are then rovalu8d, thg revaluation e￿rnent is
added to the restricted reserv8.
1.3 Income
All in¢ome is recognised once the charity has entitlement to the income. it is probable that the income
wll b& received and the amount of Income receivable can be measuTe(I reliably.
Mainten?nrE contribul¢ons receivable, including Supporting Poople incomè, are induded in turnover, net
of losses from voids.
Soclal Housing Grants relating to assets are recognised as income on a systematic basis over the
expected life of the a¥5ets. The income arising is included in lumover.
Land donated or transferred at a price less than tts open market value 18 included at its current valufj on
the date it is received. The drfference between the current value and the transfer price is taken to the
property valuation reserve.
Income tax recoverable in relalton to investment income 18 recognised al thg time the investment income
is receivable.
Interest on funds held on deposf( is included when receivable and the amount can be measured reliably
by the charity.. thig is norn1￿ upon notffication of the interest paid or payable by the Bank.
Page 18

JOHN BOWLEY AND SHERWOOD ALMSHOUSES
NOTES TO THE FINANCIAL STATEMENTS (continued)
FOR THE YEAR ENDED 31 DECEMBER 2024
1. Accounting policies (continued)
1.4 Expendlture
Expendilure is recognised once there is a legal or Constructive c*Jligation to make payment to 8 third
paty, it is probable that settlement will be required and the amount of the obligation can be measured
reliably.
All expendf(ure is accounted for on sn accruals basis. All expon59s including support costs and
govemance costs are allocated to the applicable expenditure headings.
Irrecoverable VAT is charged against the expenditure heading forwhich it was incurred.
1.5 Flxed assets
Al each balance sheet date, th? trustees review the carrying amounts of the char'ty's freehold pro￿rtY
and fixtures and frttings lo detemiine whèther there is any indication that any assets have suffered an
impairnenl loss. If any such indication exists. the recoverable amount of an asset is eslimaled in order
to detem)Ine the extent of the impaiment1055, if any.
If the rO￿verable amount of an asset is estimated to be less than its carying amount. the carrying
amount of the asset is reduced to rts recoverable amount. The impaimient loss is recognised as
expense in the SOFA immediatoly.
Where an impaimienl loss subsequently reverses, the carying amount of the asset is increased to the
revised estimate of ils recoverable amount, to the extent that the increased carrying amount does not
exceed the carrying amount that would have been deleimined Inel of depTecialionl had no impainnenl
loss been recogni58d for the asset in pr¢or years. The reversal of an impainmenl loss is recognised as
income In the SOFA immediately
Tangible fixed assets are stated al cost less depreciation_ Depreciation is provided at rates calculaled to
write off the cost of fixed assets, less their e5tim81ed residual value, over their expected useful lives on
the following bases:
Houslng properties
Housing property improvements
Fixtures, fittings and equiprnenl
Not depreciated
Over an estimated useful lffe of 20 yeaTS on a straight line basis
15% slraighl line basis
1.6 Investments
Investments are a form of basic financial inslrum8nt and are initially recognised at their transaction value
and subsequentty measured al their fair value as al the balance sheet date using the closing quoted
market price. The nel gains and losses arising on revaluation and disposals throughout the year are
included in the SOFA.
1.7 Debtors
Trade and other debtors are recognised at the settlement amount after any trade discount offered.
Prepayments are valued at the amount repaid nel of any trade diS￿Unt9 due.
1.8 Cash at bank and in hand
Cash at bank and in hand includes cash and short temi highly Ilquid investments with a short maturity of
three months or less from the date of acqulsitlon or opening of the deposit or similar account.
Page 19

JOHN BOWLEY AND SHERWOOD ALMSHOUSES
NOTES TO THE FINANCIAL STATEMENTS (continued)
FOR THE YEAR ENDED 31 DECEMBER 2024
1. Accountlng poliGies Icontinued)
1.9 CredltOTS and provisions
Creditors and provision5 are recognised where the charity has a present obligation resulting from a past
event that will probably resuli in the Iransfer of funds to a third paty and the amount due 10 Settle the
obligation can be measured or eslimaled reliably. Creditors and provisions are normally reccgnised at
their settlement amount after allowing for any trade discounts due.
1.10 Flnanclal Instruments
The charty only has financial assets and financial liabilities of a kind that qualify as basic financial
inslrumenls. Basic financial instruments are inrtially recognised al transaction value and subsequently
measured at their settlement value wi(h the exception of bank loans which are subsequentty measured
81 amortised cost using the effective interest method.
2. Unlts In managomgnt
Units at
Unlts at
end
Supported housing and housing for older peopte
16
3. Tumover
2024
2023
Weekly maintenance contributions
Social housing grant utilised in year
116,289
2,319
106.367
2,319
118,608
108,686
4. Management expenses
2024
2023
W8ler Tates
Light and heat
Insuranc8s
Cleaning
Telephone
Administration
Depreciation
112
922
2,641
3,266
416
44,187
19,705
134
516
2.849
2.238
42,110
16,753
71,249
64,966
S. Servic6 costs
2024
2023
Audit and accountancy
SLFbscriplions
Professional fees
4,659
1.466
696
4.558
985
1.755
6.821
7,298
Page 20

JOHN BOWLEY AND SHERWOOD ALMSHOUSES
NOTES TO THE FINANCIAL STATEMENTS (continued)
FOR THE YEAR ENDED 31 DECEMBER 2024
6. Othor Incorne
2024
2023
Non%ovemment grants and donations
Govemmenl grants
205
1,000
2,224
1,205
2.224
7. Interest receivable and other Income
2024
2023
Dividends receNed
Bank interest receNed
1.091
1,371
1,153
1,763
2.462
2,916
Notional dividends only are declared on the hoEding of BlackRock Char((Es UK Bond Fund A
Accumulation Shares. The dividend is not distributed but is retained within the fund to increase the value
of the shares. The amounts so treated during the year were £58712023 - £576).
8. Operatlng surplus
2024
2023
Operating surplus as stated aftgr charging..
Auditof s remuneration
Depreciation
4,659
19,705
4,558
16,753
9. Auditors, r¢muneration
2024
2023
Fees payable foT the audrt of thg charity's fir￿nCIal statements
4,659
4,558
Fees payable for other servic8s
800
10. Staff costs
During the year, the charty continued lo employ a part-tim9 Clerk working 30 hours12023 - 30 hours)
per week. No employee received remuneration above £60,00012023- none).
staff costs for the year amounted to..
2024
2023
Wages and salarie5
Pension costs
37,080
916
34,118
827
37,996
34,945
Paue 21

JOHN BOWLEY AND SHERWOOD ALMSHOUSES
NOTES TO THE FINANCIAL STATEMENTS (continued)
FOR THE YEAR ENDED 31 DECEMBER 2024
11. Trustees, remuneration, expense5 and transactions with related parties
No trustees receNed any remuneration during the year {2023- £nill.
No trustees receNed any benefits in kind during thg year12023 - £nil).
One trustee recetved re5mbursement of expenses during the year totalllng £8012023- £nil}.
Al 31 Oecember 2024, four trustees were coun¢illors of Folkgstorle Town Counci5. All Iransaclions wf(h
Folkestone Town Council were on an arms length basis, and none of the trustees were able lo use their
posf(ion lo their advantage.
None of the trustees or other persons reLqted to the charity had any personal interest In any contract or
transactr)n entered into by the chafty during the year12023- £nill.
12. Tanglb19 fixgd assots
Housing
property
Improvements
Housing
properties
for lettlng
Flxtures
and
fSttlng8
Total
equipmanl
Cost or valuatlon
At 1 January 2024
Addrtions
Disposals
272,440
1.900
548.967
54,824
1,923
834
877,C65
3,823
Al 31 December
2024
274,340
548,967
56,747
834
880,888
Depreclatlon
At 1 January 2024
Charge for the year
Disposals
31,780
14,384
38,174
5.154
482
167
70,436
19,705
At 31 December
2024
46,164
43.328
649
90,141
Net book value
Al 31 December
2024
228.176
548,967
13.419
185
790,747
Al 31 December
2023
240.660
548.967
16,650
352
806,629
A fomial valuation of John Bowley House was carried out in October 2010 81 which time the market value
was estimated al £1.100.000. No fomial valuation has been prepared for She￿ood Trust Homes bul the
Ifustees are of the cpinion the market value is unlikety to b8 less than £S00.000.
Housing properties for letting includes £49,850 in respect of donated land and buildings which remain the
property of John Bowley and SheNJood Almshouses Icharty number 1143234-1. formerty 2109591. In
accordance wf(h guidance issued by the Charity Commission, the transactions are refiecled in the account
of John Bowley and Sherwood Almshouses Icharty number 1143234) 8S the constituent charity under
niting direction.
Page 22

JOHN BOWLEY AND SHERWOOD ALMSHOUSES
NOTES TO THE FINANCIAL STATEMENTS (continued)
FOR THE YEAR ENDED 31 DECEMBER 2024
13. Investments
2024
2023
The market value of investments as at 31 Decemb&r 2024 is as follows:
M&G'. Charity Multi Asset Fund- 843 income units
Bla¢kRock.. Charities UK Bond Fund A- 309.166 accumulation units
BlackRock.' Charities UK Bond Fund A- 720 income units
BlackRock.' Charities UK Equity Fund A- 2,753.536 income units
COIF: 571 income unts
783
14,253
1,021
20.619
11,587
757
14,308
1,068
20.059
11,331
48,263
47,523
The cost of investments as at 31 December 2024 is as follows..
M&G'. Charty Mulb. Asset Fund- 843 income unlts
BlackRock'. Charities UK Bond Fund A- 309.166 ￿c￿MUlatIOn units
BlackRoek'. Charities UK Bond Fund A- 720 income units
BlackRock'. Charities UK Equity Fund A- 2.753.536 income unks
COIF.. 571 inc¢me units
732
15,965
1,378
18,105
6,659
732
15.965
1,376
18,105
6.659
42,837
42,837
All investments held at 31 December 2024 are UK listed investments in managed funds.
Market value at 1 January 2024
Unrealised surplus I Idefictt)
47,523
740
44,68S
2,858
Market value al 31 Deeember 2024
48,263
47,523
Pa9e 23

JOHN BOWLEY AND SHERWOOD ALMSHOUSES
NOTES TO THE FINANCIAL STAIEMENTS (continued)
FOR THE YEAR ENDED 31 DECEMBER 2024
14. Trade and other debtoys
2024
2023
Arrears of maintenance contribution$
Other deblofs
Prepayments and accrued incom
1,352
179
4,095
5.879
3,638
5,626
9.517
15. Credltofs: amounts falling du8 wlthln one year
2024
2023
Trade creditors
Accruals and deferred intome
Other creditors
4.889
13.207
406
7.890
1.088
8,978
18,502
16. Creditors: amounts falling due after more than one year
2024
2023
Accruals and d8ferred income
162,354
164,673
17, Dgferrgd incom8
2024
2023
Balance brought forward
Released in year
164,673
(2.3191
166,992
12,319)
Balance carried foThvard
162,354
164,673
Defe¥red income represents a capital grant recewed for the construction of John Bowley House. The
grant is being released over the estimateil useftjl lrfe of the property in accordance with FRS 102.
Page 24

JOHN BOWLEY AND SHERWOOD ALMSHOUSES
NOTES TO THE FINANCIAL STATEMENTS (continued)
FOR THE YEAR ENDED 31 DECEMBER 2024
18. Restricted regerves
Property
valuatlon
reserve
Kgnt
County
Councll
Total
At 1 January 2024
Surplus I IdefieTtI for the year
Transfer btheen fund8
49,850
49,850
1.CQO
{1,0001
At 31 December 2024
49,850
49,850
Propgrty valuatlon Te$eryg
The land and buildings were donated to the charity under pemanent endowment. The restrictions
placed upon the donations are therefore applied lo the revaluation of the donated propety.
Due to the restridions on the original donation5, the land and building and the related Tevaluation remain
in the unincorporated charity known as John Bowley and Sherwcy)d Almshouses Icharsty number
1143234-1, fomerty 2109591. In accordance with guidance issued by the ChaTity Commission. the
transactions are refiected in the 8ecounl of John Bowley and Sherwood Almshouses {charily number
1143234} as the consliluent charty under a unlting direction.
Kent County Council reservo
During the year a grant of £1,000 was recewed from Kent County Council towards the purchase of new
water storage. The grant was frJI￿ expended within the year.
19. D8$lgnat8d reserves
Cycllcal
maintenance
fund
Extra-
ordlnary
rapair fund
Total
At 1 January 2024
Surplus l (deficit) ft)r the year
Transfers between funds
TransfeTS for caprial spend
30,000
124.3781
28.201
13,823)
173,000
203,000
{24,3781
28,201
13,8231
Al 31 D￿rnber 2024
30,000
173,000
203.000
Page 25

JOHN BOWLEY AND SHERWOOD ALMSHOUSES
NOTES TO THE FINANCIAL STATEMENTS (continued)
FOR THE YEAR ENDED 31 DECEMBER 2024
20. Note to the statement of cash flows
2024
2023
Cash flow from operating activities
Surplus for the year
Adjustments for nonrycash Items:
Depieciation of tangible fixed assets
Loss on dlsposal of tangible fixed
assets
Ilncreasel I decrease in trade and
other dobtors
Increase l {decreasel in trade ar
other eredilors
Government grants ulllised in the year
Interest received
3,049
4,977
19.705
16,753
3,891
12.902)
19,524)
12.319)
11.3711
7,735
12,319)
11,7631
13,431
22,481
Page 26