THE HOPKINS AND SNEYD ALMSHOUSE CHARITY
Hopkins and Sneyd
Almshouse Charity
ANNUAL REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
Company Registration number: 08390520
Regulatorof Social Housing Numb¢r: A2570
Charlty number: 1152689

THE HOPKINS AND SNEYD ALMSHOUSE CHARI
Annual Report and Flnanclal Statements for the Year Ended 31 March 2025
Contents
Page
General Information
Board Report
Independent Auditors, Report
10- 13
Statement of Comprehensive Income
14
Statement of Changes in Reserves
15
Statement of Financial Position
16
Cash Flow Statement
17
Notes to the Financial Ststem8nts
18-27

THE HOPKINS AND SNEYD ALMSHOUSE CHARITY
General Information
Board of
Management
Mr Trevor Jeffries Chair
Ms Olivia Lyons
MrTerry Redford Vice Chair
Foundation Home - (CIO/Corporale body}
Mr Leslie McDowaU Appoinlad 15 August 2024
Reslgned 15 August 2024
Resigned 22 May 2025
Secretary
Jlll Lawren
Managlng Agent
The Trust Partnership
Registered Offlco
6 Trull Farm Buildings
Telbury
Gloucestershire
GL8 8SQ
Registered Company 08390520
Number
Audltors
Dalns Audit Ltd
2 Chamb&r]ain Sq,
Birmingham
B3 3AX
Bankers
Barclays Bank PIC
Leicester
LE87 2BB
Investment
Managers
Rathbones incorporatlng Investec Wealth & Investment Ltd
The Colmore Building
20 Colmore Circus
Queensway
Birmingham
B4 6AT
Registered Charlty NumbeT', 1152689
Regulator of Social Housing registration number: A2570

THE HOPKINS AND SNEYD ALMSHOUSE CHARITY
Board Report
The Board of Management (the Board") presents Its Report and the audited financial stslemenls for the y6ar
ended 31 March 2025.
Statemgnt of Re$ponsibilét16s of thè Board of Management
The Board are responsible for preparing the Annual Report and the financial statements in accordance wtth
appliGable laws and regulations.
Regis18red social hoLtsing legislallon requlres the Board to prepare financial statemenls for ea¢h financlal year
whlch give a true and fair view of the state of affairs of the Charitable Company ('the Company.) and of its income
and expenditure for that period. In preparing these financial staternents, the Board are required to:
select suitable accounling policies and then apply them conslstsnlly:
make Judgements and estimales Ihat are reasonable and prudent.,
slate whether applicable accounting standards have been followed, subject to any material departures
disclosed and explained in the financial statements., and
prepare the finan¢lal statements on the going concem basis unless it is inapproprlate to presume that the
Company will continue in business.
The Board are responslble for keeping proper accounting records which disclose with reasonable accuracy al
any time the financial position ofthe Company and enables themto ensure that the financial stat8mgnts comply
with the Housin9 and Regeneration Act 2008 and Ihe Accounting Direction for Private Registered Providers of
Social Houslng in England 2022. 11 ha5 8 gen8ral responsibility for taking reasonable steps to safeguard th8
assets of the Company and to pr8venl and detect fraud and other Irregularities.
Statement of dlsclosure of Information to auditors
We, the Board members of the Company who held office at the date of approval of these Financial Statements
as set out above each confirm, 50 far as we are aware, that..
there Is no relevant audit information of which the Company's auditors are unaware., and
we have taken all the steps that we ought lo have taken as a Board in orderto mak6 ourselve5 aware of
any relevant audlt information and to establish that the Company's auditors are aware of Ihal information.
Governance and Accountabillty
The Board retain5 ullimale responsibility for all aspècts ol the Company's activities and nomially meèts
qU8rterly. Membership of the Board is reviewed from tlme-to-lime to ensure its composition is appropriate for
both the present and future planned activities of the Company.
From time to time, specific commlttees are established to consider somè of the detailed work in policy
formulation, strategic planning and performance monitoring in relation to key activities,
Responsibility for thè day-to-day management and implementation of the Company's polici&s and Pro￿dureS
Is delegaled to the Managing Agent's Management T8am.
The Charitable Company substantially complies with the Charity Code of Governance 2020. as expected by
the Charity Commission.
The legal title for the properties owned by The Hopkins and Sneyd Almshouse Charity resldes svith the Official
Custodian on behalf of the Company.

THE HOPKINS AND SNEYD ALMSHOUSE CHARITY
Board Report (continued)
Intemal ControlsAs$urance
The Board atknDwledgès that it is responsible for the Company's systems of internal control which are
designed to produce reasonable bul not absolute assurances regarding the safeguarding of assets. the
maintenance of proper accounting records and the reliability of financial and other management Information.
The following procedures are in place. whtch are designed to produc& effective internal control:
An annual report to the Board from the Managing Agent on risk management and the Company's
internal control proces$es.
Clearly defined management and reporting structures set oul in the Company's finan¢lal regulations
ancl standin9 orders.
Management information systems with quarterly reporting of financial resulls and key perfornance
indicators compared wÈth targets.
Monitoring of control Systems through audit.
Arrangements for managlng the rlsks of fraud
The Company (via its managing agent) has robust arrangemenls in place for managing the risks offraucl. These
include:_
pr8ventiDn - the Company seeks to generate a strong anli-tr2ud culture supportèd by apprcprlate
controls over operational and employment systems.,
detectlon- the Company has implement8d comprehenslve systems and procedures to detect evidence
of fraud 8nd to facilitate and encourage the reporting of fraud.,
investigation - the Company follows a comprehensive policy on fraud investigation and r8POrtlng and,.
insuranc8 - thè Company has appropriate insurance cover in place to mitigats the potential financlal
losses assoclated with fraud.
There have been no weaknesses identified in the Company's internal controls which have resulted in material
losses. contingencies or uncertainties whl¢h require disclosure in the financial statements.
Charitable Donatlons
The Company has made no donatlons during the Course of the year {2024- Nil).
Publi¢ benefit
The Board has received the Charity Commission's guid81ines on public benefft.
The Company provldes accommodatlon for local people in need within the Ru9eley area. In carrying out thè
Charity's Objects the Board has had regard to Charity Commission guidance and is salisfted Ihat the wntinuous
demand for Ihe affordable accommodation provided demonstrates that the lest is met. The accomrnodation Is
fijlfy occupled, and allocations arg giv8n on the basis of houslng the eligible person in greatest need al the time
of a vacancy.

THE HOPKINS AND SNEYD ALMSHOUSE CHARITY
Board Report (continued)
Prlnclpal act[￿ty
The principal activity of The Hopkins and Sneyd Almshouse Charity is the provision of affordable
accommodation for those In need within the Rugeley ar8a. The Charity is a registered social housing provider
regulated by the Regulator of Social Housing (RSH) as well as being regula16d by Ihe Charily Comrnission.
The Company is registered with the Regulator of Social Housing,
The Trust Partnershlp, Is Ihe managing agent providing propety managèmerit and resident welfare servic8s. A
Scheme Manager is responsible for day-tO•day management ofthe property known as Sneydlands and maintsins
dally. part-time presence on silè,
During the year the main activity was lo maintain the three almshouse siles and to ansure that vacant units
are re-allocated in a timely way. Maintenance is split into responsive repalrs and programmed works.
Responsive repairs are reported by the resldents lo the managlng agent and contractors 8tlend as required.
Programmed fepairs are major works Identified through the quinquennial Inspectlon report and included withln
the budgeL Management Accounts. inGluding the 8pproved Budget. are reviawed at each Board meeting.
Th8 Board is aware of ils Tesponslbllitles to residents as beneficiaries of th8 Charlty and under the Care Act
2014 requiring vlgllance on matters of saf8guarding vuln8rablÈ residents.
Reports on propaty management and resident welfare are made available to the Board at eaGh meeting.
The goveming documents allow forthe beneficiaries to be ¢harged a Weekly M8inlenanc8 Contributlon (WMC)
and a Setvlce Charge. The WMC is set in accordance with the RSH formula, and the SeNice Charges are
sel by reflecting the previous yeer's expenditure and the anticipated costs for the coming year. Residents
unable to pay are signposted to the ID¢al authority for assessment and assistance.
Revlew ol Actlvitles and Future Developments
The results ofthe Company for the year ended 31st March 2025 are set out on page 14. The operating deficit
w85 £5,925 (2024- deficit £10.024)- The net surplus for the year before investment gains was £10,263
(2024". nel d8ficit £1.7011.
Investment Powers, Policy and Performancè
The investments are managed by Rathbones incorporating Investec Wealth and Investment Ltd on behalf of
the Company. The objective given to Investec Ltd 15 ba18nced between providing an income from the
inveslm8nls for th8 njnning of the Charily and ensuring capital growth. The Board monitors the yield 8nd th8
return from the investmen15 and receives regular reports from the investment manager with th8 appropriate
benchmarking information.
Reservts Pollcy
The reserves policy for the Chority is managed with a view to retalning reseNes of at least £375k. This broadly
equales lo the planned 8xpendi*ur8 for an elghteèn-monlh period excluding depreciation and finance costs
and the ability to cover expenses for two years. It 15 recognised that sorne tolerance beyond this limit may be
required, by way of example..
Should an unforeseen cost arlse. this may decrease the level ol reservès beyond the lower tolerance of£375k.
Should a specific project be launched which requires a longer-terrn funding plan.
The Board monitors the level of resetves at the end of each financial yearto ensure compliance with thls palicy,
or allernalely to be able to justÉfy an exception belng made to the policy.
Accommodation Managed by Others
Management ofth8 47 (2024.. 47) properties uwned by the Companywa5 undertaken by The Trust Partnership
throughout Ihe period. Th8 Cornpany has no other properiies used for accommodation purposes.

THE HOPKINS AND SNEYD ALMSHOUSE CHARITY
Board Report (continued)
Employees
The Company has no dire¢l employees, as 811 Services are provided by The Trust Partnership under th8
management arrangement.
Value for Money
Ob'8d¢ves
The Company has id8nllfied Value for Money as one of Its core priorities, alongsldÈ satisfaction of residents
and the lèvel of sarvicès provided. SpeGifiGally. the Company's objectives In this regard are to ensure that:
Costs are Iransparent and comparable
Costs and charging structures are ¢ommercially corTipetitive and in lin8 wilh the bgnchmark as provided
by The Alfftshouse Association
It continues lo strive to provide better s8Fvicas for a similar or lower Cost base, year on year.
How the Company Dellvers Value for Money
Trans
arent Cost Structure
The Company's operations are managed by The Trust Partnership, a third party. The Trust Partnership stiwes
to ensure that Costs are visibl8 and highllghts the extent lo which the Company's acttvity is exposed to the
market.
utc
Input Costs Include:
SLtppller ¢osts {procuremenl)"
Managem8nl costs., and
Borrowing costs
The Company has loans which have beén secured on the houslng propertles whlch il operates in order to
reduce the interest charges payable.
timlsln
5 on assets and Invest￿ents
Th8 Company's physlcal assets seNe a single Pufpose in provlding housing. Therefore, to maxlmlse the
returns made on these propertie5 means 8nsuring each propety Is being used to thelr full potential and
minimising the time each property is not used.
The Company has a portfolio of investments, which is administered by Invest80 Wealth and Management Ltd.
This relationshlp has been established ta maximise the potential returns from the Company's Inveslrnents. It is
believed that the expertise and experfence of Investec Ltd are good value for money againsl th9 retums made.
Tax
a er R turns
The Company currently holds £1.186 million of gov8mment grants agalnst houslng property assets. The
Company is committed to making SLtre that Ihis property is used for Ihe good of the community.
The grant ha5 ensured the continuing operation of the Company. meanlng that the residents and the wid8r
community all benefit from the govemment Investment,

THE HOPKINS AND SNEYD ALMSHOUSE CHARITY
Board Report (continued)
Value for Money metrlcs and targets
The nèw Value for Money standard published by the Regulator of Social Housing requires Registered Providers
to report on a number of Value for Money matrics within their financial statements, Ènd these are set out in
table below.
Regulator of Social H•uslng metrics
Hopklns & Sneyd
2022-23
2023-24
Actual
Actual
2021-22
Actual
2024-25
Re-investment Yo
5.1Y
D.OC/ptr
O.OO/o
New Supply- social housing 0/0
o.oo/
o.ooh
o.oo
0.04/0
Gearlng
-11.8Q
.8.OYo
-8.6Yo
EBITDA-MRI interest cover
442.5%
-389.2%
187.0 /0
374.8Y.
H8adlin8 social houslng cost per unit
Operatin9 rnargin Isocial housing
unils
£5,052
£8.183
£7.889
£6,977
14,4Vo
-0.5°
-1.7%
Operating margin (overall)
14.39/0
13.10A
-0.6Yr¥
-1.6Vo
Return on capital employed {ROCE)
1.4Y.
4).1 /0
The relnve51menl and new supply rnatrics reflect the work done on properties in the year.
Gearing remains low with high leve15 of cash r8sources held whlch are higher Ihan the outstanding loan
balance. As the loans are al fixed interest rates th8re Is no financlal benefit tc breaking from th8 flx. Accordingly
benchmarked against th8 sector gearing is in top quartile performance. The Company also holds inveslments
which provlde a raturn which supplements the Company's income.
Interest cover in 202212023 was lower than previous levels due to Ihe capita5 repair costs on fire safety. In
2023124 and 2024125 Interest cover has improv8d.
The Company's overall social housing ¢osl per unit decreased from £7.889 in 2023-24 10 £6,977 In 2024-25.
This is forecast to Incrèase to £7.324 in 2025-26. The increase is the result of the higher budgeted costs in
2025126 in line with The Almshouse Association recommendalions. The high costs compared to benchmark
are reflective of the high level of servlce ¢harges as the majority of the properties are sheltered s¢heme type
a¢commodation. The costs also reflect the investment in properties,. thls investment provides a hlgh standard
of homes and results In exlrernely low void levels.
Operating margln levels, as a consequence of the high level of service Charge in¢orne, recharged at cost, are
low compared to seclor benchmarks. The Board acknowledges that the level of return is Commensurate with
the charilable objectives of the Company.
Return on capital employed is at the Iow8r end of sector benchmarks bul at the expectèd levels of return the
Board requires for future investment in homes.

THE HOPKINS AND SNEYD ALMSHOUSE CHARITY
Board Report {¢ontlnued)
Risk Managèment
The Risk Register is Considered by tho Board al èach meeting and Ihe performance of mitigating measures 13
monitored.
Financial Risks art monitored and reported on at each Board meetlng by Investè¢ Wealth and Management Ltd.
In¢Dm8 and capltal growth conllnue to be Impacted by current economlc uncertainties. but reserves are sufficient
to malntain the Objects ancl sustainabllliy of the Charity. The Board has no intantion, or need, to take Dut any
additional loans at this Point in Ilme. The cost-of-living crisis impact on residents Is monitored and the Board follow
the regulatory requirements of the Regulator of Social Housing in respect of the annual increase in ¢ontrtbutions
by using the officlal formula provided. Any arrears are monltored and aclioned.
Govemance risks are generally considered to be as a result of external political and regulatory requiremants
which have Increased Gonslderably over Ihe last few years. The Board Is updated at each meeting on any
changes to relevant statutory and regulatory requlrem6nts and mitigallon measures considered and agreed.
Rlsks can generally be categorised in terms of health and safety requirements (both for resident welfare and
buildings) and ensuring resident satisfaction measures are met.
Addltlonal operational risks are identified as loss of Income from delayed void turnarounds. These are minimised
by efficlent working of th8 management team both in ensurin9 the vacant unil is efficiently refurbishedlrede¢orated
and concurrenlly allocating Ihe accommodalion.
The Company does not have a website or Its own IT systems. All dats Is stored and fflanaged by The Trust
Partnership on their IT systems, which operates a robust cyber security System and has appropriate cyber and
data risks Insurance.
Plans for the Future
The Board is keen to attract more Board Members and wlll continue to actively search for those m8mbefS of the
local community who provide th8 skills identified as belng of greatest use to the Charity.
The Board has no plans to expand on ils tUff8nt almshouse provision orGhange the servic8 provision to residents.
The Board meets its charttable objects by providing almshouse acGommodation for the local communtty, which
by its nature is affordable to help those most in need. who meet the ellglbilily criterla. The Company will continue
115 regime of the required health and safely checks for the properties. taking account of sustainabillty Issues where
possible.
Auditors
The auditors, Dains Audit Limitéd, will be proposed for reappolntment In accordance wilh section 485 of th9
Companie5 AGt 2006.
In preparing thls report the Board have taken advantage of the small companies exemptions provided by
section 415A of the Companies Act 2006.
The Board report was approved on 4 Septsmb6r 2025 and slgned on Its behalf by.,
Mr T Jeffrles
Chalr
Mr T Redford
Vice thalr

THE HOPKINS AND SNEYD ALMSHOUSE CHARITY
Independent Auditor's Report to tha Board of The Hopkin3 and Sneyd Almshouse Charity
Oplnlon
We have audited the financlal staternents of The Hopkins and Sn8yd Almshouse Charity (the 'Company') for
the year 8nded 31 March 2025 which Comprise the Statement of Comprehensiv8 Income, the Statement of
Changes In Reserves, the Statement of Financial Poslllon and the related notes to the financial stalementg,
including a summary of signifiGanl accounting policies. The financial reporling framework that has been applied
in their preparation is applicable law and United Kingdom Accounting Standards, incltsding Flnaneial Reporting
Stsndard 102 The Financial Reporting Standard applicable in the UK and Republlc of Ireland {Uni18d Kingdom
Generally AGcepled Accounting Practice).
In our opinion the financial stat8ments,'
give a true and fair view of the state of the Cornpany's affairs as al 31 March 2025, and of ils incoming
resources and applicatlon of resources, including Its income and expenditure, for the year then ended;
have been properly prepared in accordance with United Kingdom Generally Accepted Accounting
Practice; and
have been prepared in accordance with the requlrements of Companies Act 2006. the Houslng and
Regeneration Act 2008 and Ihe Accounllng Direction for Private Registerèd Providers of Social Housing
In England 2022.
Basls for opinion
We conducted our audit In accordan￿ with Intematlonal Standards on Auditing (UK) (ISAS (UK)) and
appllcable law. Our responsibilities under those standards are further described in the Auditor's re5ponsibilitl8S
for the audit of the financial statements section of our report. We are independent of the Company in
accordance with Ihe ethical requirements that are relevant to our audit of the financial stal8ments in the UK,
includlng the FRC'S Ethical Standard, and we have fulfilled our other ethical responsibllities In accordance with
Ihese requiremen15. W& believe Ihat the audit evidence w8 have obtained is SLrffi¢ienl and 8ppropriala lo
provide a basis for our opinlcn,
Conclusions relating to golng concern
In auditing the financial statements, we have cancluded that the Board's use of the going ¢on¢ern basis of
accounting in the preparatlon of the financlal statements is appropriate.
Based on the work we have performed, we have not identified any material unc8rtainti&s relating to events or
conditions that. individually or collectively, may ¢ast significant doubt on th8 Company's ability lo continu8 as
8 going concern for a period of at least ￿e1ve months from when the financlal stalements are authorlsed for
Issue.
Our responsibilities and the responsibilities of the board with respect tc going concem are described in the
relevant sections of this report.
Other Informatltsn
The board 15 responsible for the othei infomiation. The other Infofmalion comprises the inforrnation included
in the Board Report. other than the financial statements and our audilorfs report Ihereon. Our opinion on the
flnancial statements does not cover the other information and, except to the extent olheMi5e explicitly slated
In our report, we do not 8Xp￿$S any form of assurance conclusion th8reon.
In connection with our audit of the financial statements, our responsibility is to read the other information and,
in doing so, consider whether the other information is materially inconsistent with the financial ststements or
our knowledge obtained in the audit or otherwise appears lo be materially misstated. Ifwe identify such materlal
Inconslstencies or apparent malerial misslatements. we are required to determin& whether there is a material
misstatement in the financial statements or a material misstatement of the other Infomiation. If, based on the
work we have performed, we conclude that there is a matarial misstslement of thi5 other Information. we a
required lo report that fact.
We have nolhing to report in this regard.
10

THE HOPKINS AND SNEYD ALMSHOUSE CHARITY
Independent AudIt0￿$ Report to the Board of The Hopkins and Sneyd Almshouse Charity (Gontinued)
Opinions on other matters prescribed bythe Companles Aet 2006
In our opinion, based on the work undertaken in the course of the audiL
the information given In the Board Report for the flnanclal year for which the fSnan¢ial stalernenls ar&
prepared is consistent with the financial statements., and
the Board Report has been prepared in accordanca with applicable legal requirements.
Matters on whlch we are roquired to report by gxception
In the light of our knowledge and understandlng of the Company and its environm8nl oblalned in the course
of the audit, we have not identlfied material mlsstatements in the Board Report.
We have nothing to report in respect of Ihe followlng matters in relation lo which the Companies Act 2006
requires us tD report lo you if, In our opinion.-
adequat8 accounting records have nol been kept or returns adequate for our audit have not been recelved
from branches not visited by us- or
the financial statements are not in agreement with the accounling record5 and returns- or
certain disclosur6s of trustees. remuneration specified by law are not made- or
we have not received all the Informatlon and explanations w8 raquire for our audlt., or
the board was not entitled to prepare the financial ststements in a¢cordance with the small companles
regime and lake advantage of the small companles, exemption in preparing the Board Report and from
the requirement to pr8par8 a strateglc report.
In addlllon, we have nolhing lo report in respect of the following matter where the Housing 2nd Regeneratlon
Act 2008 requires us to report to you if. in our opinion-
a satisfactory syst8m of ctsntrol over transactions ha5 not been maintained.
Responsibilltles of the board
As explained more fully in the Board's responsibilities statement set Dtjt on page 4. the board members (who
are also the directors of the Company for the purposes of Company law) are responsible for the preparation of
the financial stat8menls and for belng satisfied that they give a true and fair view, and for such internal control
as the board determlne is necessary to enable the preparation of financial statements that are free from
malerlal misstalement, whether due to fraud or error.
In preparing the financial statements, the board Is responsible for assessing the Company's abillly to ¢ontinue
as a golng Concern, dis¢lpslng, as applicable, matters related to going ¢on¢ern and uslng the going concern
basls of acxounting un18ss th8 board either Inlends to Ilquldate the Company or to cease operations, Of has
no realistic alternative but to do 50.
Audltor's responsibilities forthe audit of the flnanclal statements
Our objectives are to obtain reasonable assurance about whether the flnancial statements as a whole are fr66
from matorial misststement, whether due to fraud or error. and to issue an Auditor's report that in¢ludes our
opinion. Reasonable assurance is a high level of assurance, bul is not a guarantee that an audit conducted ir)
a¢¢ordance wlth ISAS (UK) wlll always detect a material misstatement when il exists. Misstatements can arise
from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be
expected to influence the econom1¢ de¢i5ions of users taken on the basis of these financlal statements.
Irregularities, Includlng fraud, are instances of non-compllance with laws and regulations. We design
procedures in line wlth our responslbllities, oullined above, to detect material misstatements in respect of
irregularities, including fraud. The extent to which our procedures are Capable of detecting Srregulariues,
Including fraud Is detailed below:

THE HOPKINS AND SNEYD ALMSHOUSE CHARITY
Independent Auditor's Report to thè Board of The Hopkins and Sneyd Almshouse Charlty (continued)
Our approach to identifying and assessing the risks of material misstatement in respect of irregularltles.
Including fraud and non-compliance with laws and regulations, was as follows".
the senior statutory auditor ensured that the engagement team collectively had the appropriate
competence, capabilitie5 and skills to identify or reco9nlse non-compllanGe with applicable laws and
r8gulalions-
we identified the laws and regulations applicable to the company through discussions wlth directors
and other management, and from our commercial knowledg8 and èxperience of the social housing
sector,
we focused on specrfic laws and regulations which we considered may have a direct material effect
on the flnancial statemenls or the operations of the company, including the financial reporting
18gislation, Companies Act 2006. Housing and Regeneration Act 2008, taxation legislation, anti-
bribery, employment, and environmental and health and safety legislation:
we assessed the extent of compliance with the laws and regulations identlfled above through making
enquiries of management and inspecting legal correspondence,. and
Identified laws and regulations w6r¢ communicated within the audit team regularly and the team
r8mained alert to instan¢es of non-compliance throughout Ihe audit.
We assessed the susceptibility of the company's finan¢lal statements to matertal misstatement, including
obtaining an understanding of how fraud might occur, by.
making enquiries of management as lo where they considered there was susceptibillty to fraud, their
knowledge of actual, suspected and alleged fraud: and
considering the internal controls in pla￿ to mitigate rlsks cf fraud and non-compliance with laws 8nd
regulations.
To address the risk of fraud through management bias and override ofconlrols, we..
perform8d analytical procedures to identify any unusual or unexpected relationships:
tested journal enlries ta identify unusual transactions:
assessed whetherjudgements and assumptions made in determining the accounting estimates wère
indicative of potential bias. and
investigated the rationale behind signifi¢anl or unusual transactions.
In response to the rfsk of irregularities and non-compllan¢e with laws and regulations, we designed
procedu￿$ which induded, bul were not limlted to:
agreeing financial slatement disclosures to undorlying supporting documentstion;
reading the minutes of meetings of those charged with governance.
enquiring of management as to actual and potential Iltigalion and claims,. and
reviewing correspondencè with HMRC. relevant r8gulators and the compan￿5 legal advisors.
Because of the inherent limitations of an audit. there is a risk that wè will not detect all irregularities. including
those leading to a material misstatement In the financial statsments or non-compliance with rggulation. This
risk increases the more Ihat compliance with a law or regulation is removed frorn 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 is also greater regarding irregularities occurrFng due to fraud rather than error, as fraud involves
intentional concealment, forgery, collusion, omission Or misrepresentation.
A further d8scription of our responsibilitles for the audit of the financial statements is located on the Finandal
Reportlng Council'5 website al.. www.frc.org.uklaudilorsresponslbilili8s. This description fomis part of our
Auditor's report,
12

THE HOPKINS AND SNEYD ALMSHOUSE CHARITY
Independent Auditor'5 Report to the Board of The Hopklns and Sneyd Almshouse Charlty (contlnued)
U58 of our report
Thls report Is made solely to the Company's members, as a body, In accordance wlth Chapter 3 of Part 16 01
the Companies Act2006 and sedlon 137 ofthe Housing and Regeneration Act 2008. Our audit work has been
undertaketT so that we might slate to the Company's members those matters we are required lo slate to them
In an auditor's report and for no other purpose. To the fullest exlenl permltted by law, we do not aeKepl or
assume responsibllity to anyone otherthan tha Company and the Company's members as a body, for our
audit work, for this report, or for the oplnlons we have formed.
Andrew Morris FCA (Senior Statutory Auditor)
Forand on behalf of
Dalns Audlt LimFtod
Statutory Audltor
Chartered Accountants
Bimingham
Date:
/g// J, /./r/ {
13

THE HOPKINS AND SNEYD ALMSHOUSE CHARrrY
statement of Comprehensive Income for the Perlod to 31 March 2025
Notes
2025
2024
Turnover
372,275
351.700
Oparating costs
{378.200)
(353.318)
Lo$s On dl$posal of other fixod a$$ets
{8.406}
Operatln9 deficlt
15,9251
110.024)
Gains on Sale of Invastments
7,826
1,906
Inlerest receivable and similar income
21,039
Ig,276
Inte￿$1 payable and 51milar charges
10
{12.677}
112,8591
Surplu$ l (deficlt) for the year
18
10,263
11.7011
Gaing on revaluation of invèstments
14.063
25,392
Cornproh¢nslve Income for the year
24,326
23,691
The above Surpluses ralate wholly to continuing activities.
The notes on pages 18 to 27 form part of thesè flnancial statements.
14

THE HOPKINS AND SNEYD ALMSHOUSE CHARITY
Statement of Changes In Reserves
Revenue
Reserv•
Revaluation
Resèrvè
Tgtsl
At 1 April 2023
1,824,909
62,864
1,887,773
Total ¢ornprehensive inGome for the year
{1.701}
25.392
23.691
Transfers (for realised galns on invgStmen15)
At 1 Aprll 2024
3.655
{3.6551
1,826,863
84,601
1,911,404
Totsl wmprehensive incomp for the year
10.263
14,063
24,326
Transfers (for realised gains on invostments}
11.21M
111,204)
At 31 Mar¢h 2025
1,84B,330
87,460
1,935,790
The notes ¢n pages 18 to 27 form part of these financial statements.
15

THE HOPKINS AND SNEYD ALMSHOUSE CHARITY
Statement of Flnanclal P¢sltion as at 31 March 2025
2025
2024
Notes
FIXED ASSETS
Houslng Properties
Other langlble fixed assets
Investmonls
11
2,184.517
2,220,804
12
140,429
150.564
13
655,639
639,095
2,980,785
3,010,463
CURRENT ASSETS
Debtors due ￿￿thIn one year
Cash al bank and in hand
14
20.419
17,811
281.651
304.001
302,070
314,342
CREDtTORS: Amounts fallin9 due within one
year
15
173,7401
{124.963)
NET CURRENT ASSETS
228,330
196.849
TOTAL ASSETS LESS CURRENT LIABILITIES
3,209,115
3,207,312
CREDITORS..
Amounls fallirÈg due after mor& than one year
16
11.273.325}
11,295,848)
TOTAL NET ASSETS
1,935,T90
1,911.464
RESERVES
Revaluation Reserve
19
87.460
84,601
Revenue Rese
19
1.848,33Q
1,826,863
1.935,790
1,911.464
The financial statements have been p￿pared In aGGordance wrth the provisions applicable to small
companies within Part 15 oflhe Cornpanles Ad 2006.
Th8flnanclal statements ware approved and authorised for issue bythe Board on 4 September 2025 and
signed on thelr behalf by..
Mr T J&ffries
Mr T Redford
Chair
Vlce Chair
The notes on page$ 18 to 27 fomi part of these finan¢lal statemenls,
16

THE HOPKINS AND SNEYD ALMSHOUSE CHARITY
Cash Flow Statement for the Year Endod 31 March 2025
2025
2024
Notss
NET CASH (USED INI I GENERATED FROM OPERATING 18
ACTIVITIES
(27,562)
47,870
CASH FLOW FROM INVESTING ACTIVITES
Purchase of tanglble fixed assets
(6,551 >
(50,0281
Disposal in the period
Gran15 received
Proceeds from sa18s of investrnents
116,698
57.318
Purchase of investments
(104,7681
(53,2731
Interest receivable
21,039
19,276
NEf CASH PROVIDED BY I {USED IN) INVESTING ACTIVITES
26.418
(26,707)
CASH FLOW FROM FINANCING ACTIVITES
Interest payable
112,677}
112,8591
Bank loan repaid
NET CASII USEO IN FINANCING ACTIVITIES
NET CHANGE IN CASH AND CASH EQUIVALENTS
115,5621
6,745
CASH AND CASH EQUIVALENTS AT BEGIMNING OF YEAR
315.774
309,029
CASH AND CASH EQUIVALENTS AT END OF YE4R
300.212
315.774
CASH AND CASH EQUIVALENTS CONSISTS OF..
Cash at bank and in hand
ash held by Investment managers
281,651
18,561
304,001
11.773
CASH AND CASH EQUIVALENTS AT 31 MARCH
300,212
315,774
The notes on pages 18 to 27 form part of these financial statements.
17

THE HOPKINS AND SNEYD ALMSHOUSE CHARITY
Notes to the Flnanoial Statemgnts for th8 Year Ended 31 March 2025
Prlnclpal Accounting Pollcies
The company Is a prlvale company, limited by guarantee and incorporated in the United Kingdom under the
Companies Act 2006, is a registered charrty under the Charltles Act 2011, and is a Registered Provider of
Social Housing. The address of the registered office Is given on page 3 of these financlal statements. The
nalure of the Company's activities Is the provision ol soclal housing.
The Company constitutes a public benefit entity as defined by Finan¢ial Reporting Standard 102.
The financial ststernenls have been prepared in 8¢¢ordance with applicable United Kingdom financial reporting
standards, including Flnancial Reporting Standard 102 Th& Financial Standard Applic8ble in Ihe UK ènd
Republic of Ireland and comply with the Statement of Recommended Practice for Social Housing Provlders
2018 and the Accounting Direction for Private Registered Providers of Social Hotssing in England 2022. The
finan¢i31 stat8ments are also prepared under th@ requirements of Ihe Housing and Regeneratson Act 2008 and
the Companies Act 2006. The financial statements have been prepared on a going ccncem basis.
Accountlng ¢onventlon
The financial statements arè prepared under the hislorlcal cost conventlon, except as modified by the
revaluation of investments.
The signrficanl accountlng policie5 applled in the preparation of these financial slatements are set aul below.
These policies have been consistently 8pplied to 811 y&ars presented unless othernis8 Stated.
Turnover
Tumover is measured al the fair value of the consideration received or receivable.
Tumover represents maintenance and service charges income receivable in the year {nel of maintenance and
service charge1055e5 from voids) and Supporting People income.
Tanglble flxed assets
Housing Properties are stated at cost less accumulated depreciation. The cost of such properties includes the
following..
a) Cosl of acquiring land and buildings.,
b) Construction costs including intemal equlpmenl and fitting;
c) Dlre¢ty allributable development adminislration costs.,
dl Cost of capital employed during the éevelopment period,.
e) Expenditure incurr8d in respect of Improvements and extensions to existing properties.
fl Conslruclion costs incurred but not yet certified at the Balance Sheet date.
Freehold land is not depreciated. Deprèciation on other assets is calculated using the straight-line method lo
allocate their cost to their residual values over their 8Stimated Useful lives, as follows-
Structure
Door and entry systems
Bathrooms
Extemal works
Heating system
Kitchens
Lifts
50- 1 DO years
10-4Q years
40 years
15-20years
30- 40 year5
30 years
10 years
El
Green technologies
Roof coverings
Windows
Electrlcal wlring
Communal fltrniture
Office furniture and fitting
Boilers
25 years
50 years
40 years
30 years
15-20 years
10 years
15 years
18

THE HOPKINS AND SNEYD ALMSHOUSE CHARir
Notes to the Financial Statements for the Year Ended 31 March 2025 (contlnued)
Principal Accounting Policies (continued)
Tanglble fixed assets (contlnued)
Expendlture on houslng properties which is elther capable of generating increased future rents, extends their
useful life, or slgnifi¢antly rèduces future maint8nance costs, is capilalised.
All other repairs and maintenance are charged to the Statement of Comprehensive Income during the financlal
year in whlch they are In¢urred.
Impairment
All properties are considered for impaiment annually and d8tailed revi@ws of assets for impairment are carried
out if there is an indication that impairment has occurred or if they are not being depreciated.
So¢lal Housing Grant (SHG) and other grants
Social Housing Grant {SHG) is rec8lvabl8 from Homes England and is ulilised lo redLtce the capital costs of
housing properties, including land costs. SHG and other grants are held as a deferred asset (Income) on the
Statement of Financlal Position and 8mortised Éo the Statement of Comprehensive Income. wlthin tumover.
OV8r the life of tho main fabrfc of th8 propety to which it relatos.
SHG due from Homes England or recetved in advance is included as a Gurrent asset or liabilty on the
Statement of Financial Position. SHG receSved in respect of revenue expenditure is credited to the Statement
of Comprehensiv8 Income in the same period a5 the expenditure lo which it relates,
SHG is subordinatsd to the repayment of loans by ag￿ernent wllh Homes England. SHG released on the
sale of a property may be repayable but Is normally available to be recyoled and is oredited to a Recycled
Capital Grant Fund and included on the Statement of Financi81 Position in crÈdTrtors.
Investments
Investments are a form of basic financial instrument and are inltlally recognised at their transaction value and
subsequently measured at thelr fair value as at tha balanGe sheet dats using the closing quoted maTket price.
Galns and losses arising on revaluation and disposals throughout the year are r8cognised through the
Statement of compr8hensive income.
Debtors
Short term debtors ar8 measured at transaction price, less any Impairment.
Cash at bank and In hand
Cash is represented by cash in hand and depasits with financial institutions r8payAblÈ without penalty on notice
of not more than 24 hours.
Crédltors
Short temi Creditors are measur8d at the Iransaclion price. Other financial liabilities, In¢luding bank loans. ar8
measured initially at fair value, n8t of transsction costs, and are measured subsequently at amortised c05t
uslng the effective interest method.
Loans and borrowlngs
Loans and borrowings are initially recognised al the transaction price Including transaction costs.
Subsequently, they are measured at amortised costs us5ng the effective interest rate method, less impairmenL
If an arrangement constitutes a financing transactton it is measured at present value.
19

THE HOPKINS AND SNEYD ALMSHOUSE CHARITY
Notes to the Flnanclal Statements for the Year Ended 31 March 2025 (c¢ntlnued)
Prlncipal Accountlng Poll¢les (¢ontlnued)
Provlslons
Provlsions are recognised when the Company has an obligation at the balance sheet dale as rasult of a past
event that will probably result in the transfer of funds to a thlrd party and the amount due to settle the obligation
can be measured or estimated reliably,
Flnanclal Instruments
The Company only has financial assets and financial liabilities of a kind that qualify a$ basi¢ financial
Instruments. Basic financial instruments arg inltlally recognised al a Iransaction value and subsequently
m8asures at their settlement Value with the èxception of bank loans whlch are subsequenuy measured at
amortised ¢ost uslng th8 efféctive interest method.
Property Managed by Agents
As the company carries the financial rFsk on property managed by agents. all the income and expendilure
arising from the property is included in the Statement of Comprehensive Income.
Judgements and key SOUT¢e5 of estimation uncertainty
The following judgemonts have been made in the procass of applylng thè above acGountin9 pollcies that have
had the mosl signiflcanl effe¢l on amounts recognised in the financial statements..
Housing properties ar& stated at cost less any provision for impairm&nt (repr8senllng a diminution in the
recoverable 5erylce polential of the a55et below Its Garryln9 value in the balanGe sheet) less depreciation. Cost
Inclijdes th8 Cost of acquiring land and buildings, development costs, interest charges incurred during the
development and expenditure incurred in respect of improvements. The Charitable Company separately
identifies the major componen15 Of sts housing propertles and charges depreciation so as trj write down the cosl
of each component lo its estimated residual value, on a straighl-lirie basis over its eslimaled useful economic
life. Indlcators of impairment would include slgnificant changes in the market or economic environment in
which the Company operate5, higher levels than expected cf unplanned maintenance expenditure on housing
property 8ssets or 8 material increase in the level of voids which exceeds those forecast.
Tangiblp flxed assets are depreciated over their useful lives laking into account resldual values where
appropriate. The actual lives ofthe assets and residual values are assessed annually and may vary depending
on a number of factors. In re-assessing the assets lives, factors such as product lifecycles and maintenance
programmes are taken into account. Residual values consider such Ihings as fLrture market condlllon5, the
remaining life of the asset and projected disposal values, plans to dispose of an asset before the previously
expected date. and changes infunding which impact on thefuturÈ viability ofsch&mes resulting in ass&ts b8lng
no longer required.
Grants for capital expenditure are recognised as deferred income and released to the Statement Of
Cornprehensive Income annually over the life of the main fabric of the propety to whlch they relate.
n allowance for doubtful dgbts is maintained for estimated losses resuth'ng from thè abillty of Ihe Company's
former residents to make required payments, based on regular assessment by the Board.
2Q

THE HOPKINS AND SNEYD ALMSHOUSE CHARITY
Notes to the Financlal Statements forthe Year Ended 31 March 2025 (continued)
Turnover. Opgratlny Cost5 and Operatlng Surplu$
2025
2025
2025
2024
2024
2024
Operating
costs
Operating
surplus
Operats'ng
costs
Op8raling
8urplu5
Turnover
Turnover
Social Htsusing
Lettings
{Note 3)
371.815
(378.2001
(6,3851
351,235
1353.318)
12,0831
371,815
(378,2001
16,3851
351.235
{353.318)
12,083)
Other
other soclal
housing
actlvilies
Loss on
dlsposal of
other fixed
assels
460
465
465
460
18,4061
18,406)
Total
372.275
<378,200)
15.925)
351.700
{361.7241
110,0241
In¢ome and Expenditure from So¢lal Housin9 Lettings
2025
2024
Rented
hou51ng
Rented
housing
In¢ome from l¥ttln95
Mainlenonce Contribullons
263,539
91,704
247.248
93.300
Servi¢e charges
Amortised government granls
20,578
20.578
Gross rgntal Incorne
375,821
361,126
Voids
(4,006)
371,815
{9,8911
351.235
Tumover from soclal houslng lettln9$
Expendlture on l?ttlngs
Management
Services
{174,1011
(73,5861
{90.3661
13,8601
{36,287)
{378,200)
(149,809)
173,5111
{97,43n
3.726
Roullne malnténance
Bad debt char9es
Depreciation
Oparatlng cost5 from soclal housing l?ttlngs
<36,2871
1353,3181
Operatlng Surplus from 5o¢ial houslng lettlngs
{6,3BS)
12,083)
21

THE HOPKINS AND SNEYD ALMSHOUSE CHARFrY
Notes to the Financial Statements for the Year Ended 31 March 2025 (continued)
Accommodatlon in ownership and management
Number of properties owned, and managed by The Trust Partnership.. 47 (2024: 47)
Operatlng Surplus
2025
2024
The operats.ng surpius Is arrived al after chargingl {crediUngl-.
Amortisalion ol govemment grants
D8precialion of properties- residential freehold
Depreciation of op6rating fixed assets
Loss on disp05al of gther fixed assets
Auditors. remuneration - audit service8
(20,5781
38.287
16,686
{20.578)
36,287
12,934
8,406
11.190
8.460
Taxatlon
The regisfered provider has charrtable status and is therefore exempt from U.K. Corporation Tax
under Section 505 Df the Income and Corporation Taxes Act 1988.
7. Board Emoluments
None of the Board receiv8d remuneration for their services (2024 £nil), nor were any
expenses reimbursed (2024 - £nil).
8. Employèe Information
The Company does not employ staff directly bul is charged for staffing by the managlng agent.
Interest Receivable and Similar Income
2025
2024
Interest receivable from:
Short-tem Cash deposi18
Other
4.395
16.644
4,332
14,944
21,039
19.276

THE HOPKINS AND SNEYD ALMSHOUSE CHARITY
Notes to the Financlal Statements for the Year Ended 31 March 2025 Icontlnued)
10. Interest Payable and Slmllar Charges
2025
2024
Bank loans, ov?rdrafts and other loans..
Repayable wholly or partly in more than 5 y9ars
12.677
12,859
12,677
12.859
11. Flxed Assets - Housing Properties
Freehold Land and Buildlngs
Housing
Propertles
Total
Cost
Al 1st April 2024
AddiU'on5 during thè p&rlod
2,595,317
2.595,317
Otsposals
At 31 March 2025
2.595,317
2.595,317
Dgprectatlon
Ai 1st April 2024
Charge far the periad
Released on disptsxals
At 31 March 2025
374,513
374,513
36,287
36.287
410,800
410.800
Nèt Book Value
At 31 March 2025
2,184,517
2,184,517
Al 31 March 2024
2.220.804
2,220,804
Soclal Houslng A561stan¢o
202S
2024
Total SHG due by 31 March
1440 425
1,440 425
Recognlsed in the Statement ol Comprehensive Income
Held as deferred income
254.785
1 185640
234.207
1.206 218
1,440 425
1,440,425
23

THE HOPKINS AND SNEYD ALMSHOUSE CHARITY
Notes to the Flnancial Statements for the Year Ended 31 March 2025 (contlnued)
11. Fixed Assets - Housing Properties (continued)
Expondlture on work to existlng a$$tts
2025
2024
Impr¢vemenls to exisllng component¥
Components capilali5ed
Recogni5ed in the Statement of Comprehensive Income
90,366
97,437
97,437
12.
Fixed Assets - Other Operating Assets
Furnltuye
and
Equipment
Cost
AI 1BI April 2024
Additions
221.771
6,551
Dispas21s
{19.358}
At 31 March 2025
208,964
Dapr•ciation
At 151 Aprtl 2024
Charge for period
Disposa15
At 31 March 2025
71,207
16,686
119.358)
68,535
N¢t Book Valu•
At 31 March 2025
140,429
Al 31 March 2024
150,564
24

THE HOPKINS AND SNEYD ALMSHOUSE CHARITY
Notes to the Flnancial Statements for the Year Ended 31 March 2025 (continued)
13.
Investments
Flxed asset investments
Llsted
2025
Llsted
2024
At 1Bi Aprll 2024
Additions
627.322
604,070
53,273
104,768
Disposals
Revaluatlon
{108,8751
14,063
(55,4131
25.392
At 31 March 2025
637,278
627.322
Cash held by investment mon8gers
Saving bond held by invèslmenl manag¥rs
Total held by investment rnana9ers
8.561
1,773
10,000
10,000
18,561
11.773
Total Invostmènts
655.839
639,095
At 31 March 2025 the historical cost of listed tnvestrnonls w85 £549,818 (2024.. £542,720).
14.
Debtors
2025
2024
Maintenance Contrlbulion debtors
10.019
7 0,341
Pr8paym8nls and olher dgbtors
10,400
7.470
20,419
17,811
2025 mainlenat)ce contribution debtor balances are nel of a provision of £nll. (2024- £nll).
15.
Credltors: Amounts Falling Due Within One Year
2025
2024
Bank loans antj mortgagos
Tradg creditors
.944
15,280
20.578
1,741
67,678
20,578
Grants to be amorti59d within tsne yeor
Other creditors and a¢cruals
35,938
34.966
73,740
124.963
25

THE HOPKINS AND SNEYD ALMSHOUSE CHARITY
Notes to the Flnanclal Statements for the Year Ended 31 March 2025 (continued)
16.
Creditors: Amounts Falling Due After More Than One Year
2025
2024
Bank loan5 and mortgages
108,263
110,208
Gov8rnmenl gr8nts
1.165,062
1,185,640
1,273.325
1,295,848
Based on the lenderf¥ egrliest repayment date. bank loans lall due as foEIows.'
2025
2024
Du9 Wlthin one ygar
1,944
1.741
Du8 in more than Dll8 year bul less than five years
10,337
9.256
Due in morg than five years
97,926
100,952
110.207
111,949
The Company has provlded security in the form of charges on housing stock for its108n al the balance sheet dale.
The loan is subjèct lo fixed repayment terms with an intèrest rale of 11.37nA.
17.
Deferred Capital Grant
2025
2024
Al 1 April 2024
1306.216
1,226,796
Released lo income in the year
{20.578)
(20.578)
At 31 March 2025
1,185,640
1.206.218
26

THE HOPKINS AND SNEYD ALMSHOUSE CHARITY
Notes to the Financial Statements for the year Ended 31 March 2025 (continued)
Reconciliation of Operating Surplus to Net Cash Inflow from Operatlng Actlvltles
2025
2024
18.
Surplusl {DgliGitl for the perlod
10.263
{1,701)
Depreciat￿￿ of housing proportles
D9preclation of other fixed assets
Amortisation of 9rants
Galns on investments
Loss on the $8le of other fixéd assets
Increase in debtors
{Decrea5ey Increase in creditors
3&287
16,686
120.578)
17,8261
36.287
12,934
120,5781
(1,906)
8,406
(8,8791
29,724
54,287
(2,6081
(51.4241
(19.2001
Adjustments for Investing or FlnanGing Actlvltles
Intaresl payable
Interesl received
12,677
(21,039)
12,859
119.2761
Net cash Iu5ed in)1 generated from Op8ratlng Actlvltles
(27.562}
47,870
19.
Reserves
a} Revenue Re5eTve
The revenu9 reserve represents cumulallve surplus and d8ficits nel af other adjustments.
b) Revaluatlon Reserve
The rgvalu?lion resèNe Yepresent5 inGrea8&s and deGreases in the falr value of listed fixed asset investments which have not
yet been reallsed.
20.
Capital Commitments
There wgre no capllal commitments contracted for in thè year ended 3151 Marth 202512024.. Nill.
21.
Related Party Transactlons
Thare were no related paty transartions in the year tD 31sI March 202512024. NII}-
22.
Company Limited by Guarantee
The Gcmpany Is Ilmited by guarantee and do8s not have sh8rg Gapitsl. The Ilability of each member in thg ovenl of winding
up is limiltsd lo £1.
27