REGISTERED COMPANY NUMBER: 07914471 (England and Wales)
REGISTERED CHARITY NUMBER: 1155069
Report of the Trustees and
Unaudited Financial Statements for the Year Ended 5 April 2024
for
Sutton Turner Houses
Mellor Oxland LLP
Hine House
25 Regent Street
Nottingham
Nottinghamshire
NG15BS

Sutton Turner Houses
Contents of the Financial Statements
for the Year Ended 5 April 2024
Page
Report of the Trustees
Independent Examiner's Report
Statement of Financial Activities
Balance Sheet
Notes to the Financial Statements
9 to 15
Detailed Statement of Financial Activities
16 to 17

Sutton Turner Houses
Report of the Trustees
for the Year Ended 5 April 2024
The trustees who are also directors of the charity for the purposes of the Companies Act 2006,
present their report with the financial statements of the charity for the year ended 5 April 2024. The
trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of
Recommended Practi￿ applicable to charities preparing their accounts in accordance with the
Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1
January 2019).
OBJECTIVES AND ACTIVITIES
Objectives and aims
The charity's principal objective during the year was to provide low cost accommodation to people
of limited financial means, who are of good character, and of not less than 60 years of age, who
reside in the City of Derby.
Slgniflcant activities
The charity was created by the generosity of the late Annie Sutton who passed away in 1913. In
her Will she bequeathed property and money for the purpose of providing Almshouses for the poor
and elderly.
Following the merger with the Turner Almshouses, the charity now owns and operates 33
Almshouses through which it achieves its objectives. These comprise of 12 two bedroom
bungalows at Windmill Hill, Derby, and a further 3 two bedroom and 10 single bedroom bungalows
located at Sutton Close, Dert)y. In addition, the propety that was transferred as part of the merger
includes a further 4 bungalows and 4 houses at Ashbourne Road, Derby. The Almshouses are
unfurnished dwellings, usually designed with the needs of older, independent people in mind. The
aim is to provide convenient and comfortable accommodation, and residents are allowed to come
and go as they please. The Almshouses each have a community call system installed, to allow
residents to call for urgent assistance if required.
Public beneflt
The Trustees have had regard to the Charities Commission guidance on public benefit. The
charity is of benefit to those with limited financial means, specifically those of not less than 60
years of age. It therefore satisfies the benefit aspect of the requirements, and is not required to
meet the public aspect as it assists in relieving or preventing poverty.
ACHIEVEMENT AND PERFORMANCE
Charitable activities
The charity's principal alm during the year was to provide accommodation to elderly peoplé In the
City of Derby who are of limited financial means. The charity has also undertaken statutory
compliance checks, health and safety risk assessments, as well as producing detailed information
on the current condition of the housing stock. This enables the charity to draw up a planned
maintenance programme, which allows the Trustees to plan medium and long term objectives for
maintenance work and the associated financial requirements.
The charity is also continuing to improve methods of communication with residents, having created
a new website, made further updates to the residents, handbook and continued regular visits to the
residents by the Trustees.
Page 1

Sutton Turner Houses
Report of the Trustees
for the Year Ended 5 April 2024
ACHIEVEMENT AND PERFORMANCE
Fundraising activities
The charity continued to receive rna1ntenan￿ contributions from residents, with very few void
periods.
The quoted investments held by the Trustees are now managed by Abrdn (previously Rathbones
Investment Management) and are considered to have performed satisfactorily. with realised losses
totalling £865 (2023 £6,892 gains) arising on disposals, and an income return of £2,533 (2023
£7,688).
FINANCIAL REVIEW
Financial position
During the year the charity continued its policy of upgrading the existing property portfolio.
The charity has rnoved the investment portfolio to Abrdn from Rathbones Investment Management
in the year and the holding is on a scale similar to the previous year.
At the year end the properties including various components and fixtures & fittings had a written
down value of £1,082,018 (2023 £1,116,098), fixed asset investments with a value of £280,126
(2023 £287,941) and cash of £12,874 (2023 £20,212).
The freehold land and buildings were valued on 30 October 2017 by Gadsby Nicols at £3,475,000
on an open market basis.
Principal funding sources
The charity's principal source of funding is the weekly maintenance contributions received from its
residents.
Investment pollcy and objectives
Subject to some funds being held in cash to meet more immediate requirements, the reserves are
invested with the aim of producing a return above inflation and are measured on a total return
basis. The invested funds are managed by an investment advisor on a cautious basis.
Reserves policy
The Trustees review the reserves policy on an annual basis.
The charity has set aside funds for regular maintenance and repair costs to ensure that the
Almshouses are maintained in accordance with the standard required under the Government's
Decent Homes Standard as applicable to Social Housing. Their current policy is detailed in Note
12 of the accounts.
Going concern
There are no material uncertainties about the charity's ability to continue.
FUTURE PLANS
The Trustees main aims for the future are to ensure the continued operation of the charity whilst
maintaining the Almshouses to a high standard.
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
The charity is controlled by its governing document, a deed of trust, and constitutes a limited
company, limited by guarantee, as defined by the Companies Act 2006.
Page 2

Sutton Turner Houses
Report of the Trustees
for the Year Ended 5 April 2024
STRUCTURE, GOVERNANCE AND MANAGEMENT
Recruitment and appointment of new trustees
The Charity is governed by a Board of Trustees and co-opted Trustees as required under the trust
deed. The Trustees provide their services on a voluntary basis.
Recruitment to the Board of Trustees is by application from those expressing an interest. giving
details of their reasons, skills and experience. Candidates are interviewed by the Board of
Trustees and if appropriate are appointed by a vote of the Board.
Each Trustee is provided with guidance on the role.
Organisational structure
The trust deed provides for a maximum of eight Trustees, the board of Trustees is now wholly
co-opted with Derby City Council no longer having rights of nomination.
The Trustees are collectively responsible for decision making within the charity. Decisions on the
running of the charity are made, and risks faced by the charity discussed, at regular Trustee
meetings.
REFERENCE AND ADMINISTRATIVE DETAILS
Registered Company number
07914471 (England and Wales)
Registered Charity number
1155069
Registered office
Sterne House
Lodge Lane
Derby
DE13WD
Trustees
ISBeck
D G Poynton
B J Thorpe (Chairman)
D L Spademan (Deputy Chairman)
J A Carter
A Smith
Independent Examiner
Mellor Oxland LLP
Hine House
25 Regent Street
Nottingham
Nottinghamshire
NG15BS
Page 3

Sutton Turner Houses
Report of the Trustees
for the Yaar Ended 5 April 2024
REFERENCE AND ADMINISTRATIVE DETAILS
Solicitors
Nelsons
Sterne House
Lodge Lane
Derby
DE13WD
Clerk to Trustaas
G Neville
Approved by order of the board of trustees on
behalf by:
and signed on its
BJThor
(Chairman) -
Page 4

Independent Examinerfs Report to the Trustees of
Sutton Turner Houses
Independent Oxamlner's report to the trustees of Sutton Turner Houses Cth8 Company,)
I report to the charity trustees on my examination of the accounts of the Company for the year
ended 5 April 2024.
Responslbilltles and basls of roport
As the charity's trustees of the Company (and also its directors for the purposes of company law)
you are responsible for the preparation of the accounts in accordance with the requirements of the
Companies Act 2006 {'the 2006 ACV).
Having satisfied myself that the accounts of the Company are not required to be audited under
Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my
examination of your charity's accounts as carried out under Section 145 of the Charities Act 2011
(Ihe 2011 Act,). In carrying out my examination I have followed the Directions given by the Charity
Commission under Section 145(5) (b) of the 2011 Act.
Independent examlnerfs Statement
I have completed my examination. I confirm that no matters have come to my attention in
connection with the examination giving me cause to believe:
accounting reGords were not kept in respect of the Company as required by Section 386 of
the 2006 Act; or
the accounts do not accord with those records," or
the accounts do not comply with the accounting requlrements of Section 396 of the 2006 Act
other than any requirement that the accounts give a true and fair view which is not a matter
considered as part of an independent examination", or
the accounts have not been prepared in accordance with the methods and principles of the
Statement of Recommended Practice for accounting and reporting by charities (applicable to
charities preparing their accounts in accordance with the Financial Reporting Standard
applicable in the UK and Republic of Ireland (FRS 102)).
I have no concerns and have come across no other matters in connection with the examination to
which attention should be drawn In this report in order to enable a proper understsnding of the
accounts to be reached.
D L Caine
Mellor Oxland LLP
Hine House
25 Regent Street
Nottingharn
Nottinghamshire
NG15BS
Page 5

Sutton Turner Houses
Statement of Financial Activltles
for the Year Ended 5 April 2024
2024
Total
funds
2023
Total
funds
Unrestricted Restricted
funds
funds
Notes
INCOME AND ENDOWMENTS FROM
Charltable activities
Provision of accommodation to people
of limited financial means & elderly
people of the City of Derby
155,504
155,504
144,385
Investment income
3,235
3,235
7,875
Total
158,739
158,739
152,260
EXPENDITURE ON
Charltable activltles
Provision of accommodation to people
of limited financial means & elderly
people of the City of Derby
140,127
5.036
140,127
5,036
182,417
4,987
Raising funds
Other
101,190
101,190
(31,914)
Total
246,353
246,353
155,490
Net gainsl{losses) on investments
20,289
20,289
(25,668)
NET INCOMEI(EXPENDITURE)
(67,325)
(67,325> (28,898)
RECONCILIATION OF FUNDS
Totsl funds brought fopward
1,445,423
1,445,423 1,474,321
TOTAL FUNDS CARRIED FORWARD
1,378,098
1,378.098 1,445,423
The notes form part of these financial statements
Page 6

Sutton Turner Houses (Reglstered number: 07914471)
Balance Sheet
5 Aprll 2024
2024
Total
funds
2023
Total
funds
Unrestricted Restricted
funds
funds
Notes
FIXED ASSETS
Tangible assets
Investments
1,082,018
280,126
1,082,018 1,116,098
280,126
287,941
1,362,144
1,362,144 1,404,039
CURRENT ASSETS
Debtors
Prepayments and accrued income
Cash at bank and in hand
10
1.676
4,237
38,967
7,399
12,899
7,399
12,899
20,298
20,298
44.880
CREDITORS
Amounts falling due within one year
11
(4,344>
(4,344)
(3,496)
NET CURRENT ASSETS
15,954
15,954
41,384
TOTAL ASSETS LESS CURRENT
LIABILITIES
1,378,098
1,378,098 1,445,423
NET ASSETS
1,378,098
1,378,098 1,445,423
FUNDS
Unrestricted funds
12
1,378,098 1,445,423
TOTAL FUNDS
1,378,098 1,445,423
The charitable company is entitled to exemption from audit under Section 477 of the Companies
Act 2006 for the year ended 5 April 2024.
The members have not required the company to obtain an audit of its financial statements for the
year ended 5 April 2024 in accordan￿ with Section 476 of the Companies Act 2006.
The trustees acknowledge their responsibilities for
(a) ensuring that the charitable company keeps accounting records that comply with Sections
386 and 387 of the Companies Act 2006 and
(b) preparing financial statements which give a true and fair view of the state of affairs of the
charitsble company as at the end of each financial year and of its surplus or deficit for each
financial year in accordance with the requirements of Sections 394 and 395 and which
otherwise comply with the requirements of the Companies Act 2006 relating to financial
statements, so far as applicable to the charitable company.
The notes fomi part of these financial statements
Page 7
continued...

Sutton Turner Houses (Reglstered number: 07914471)
Balance Sheet - continued
5 April 2024
These financial statements have been prepared in accordance with the provisions applicable to
charitable companies subject to the small companies regime.
The financial statements were approved by the Board of Trustees and authorised for issue on
. and were signed on its behalf by:
J Thor
(Chair
rustee
D L Spademan (Deputy Chairman) - Trustee
The notes form part of these financial statements
Page 8

Sutton Turner Houses
Notes to the Financial Statements
for the Year Ended 5 April 2024
ACCOUNTING POLICIES
Basis of preparing the financial statements
The financial statements of the charitable company, which is a public benefit entity under
FRS 102, have been prepared in accordance with the Charities SORP (FRS 102)
'Accounting and Reporting by Charities: Statement of Recommended Practice applicable to
charities preparing their accounts in accordance with the Financial Reporting Standard
applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019),, Financial
Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and
Republic of Ireland, and the Companies Act 2006. The financial statements have been
prepared under the historical cost convention, with the exception of investments which are
included at market value, as modified by the revaluation of certain assets.
Income
All income is recognised in the Statement of Financial Activities once the charity has
entitlement to the funds, it is probable that the income will be received and the amount can
be measured reliably.
Expenditure
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation
committing the charity to that expenditure, it is probable that a transfer of economic benefits
will be required in settlement and the amount of the obligation can be measured reliably.
Expenditure is accounted for on an accruals basis and has been classified under headings
that aggregate all cost related to the category. Where costs cannot be directly attributed to
particular headings they have been allocated to activities on a basis consistent with the use
of resources.
Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its
estimated useful life as follows:
Freehold propety - 2 % on cost
Building components - at varying rates on cost
Fixtures and fittings 20 /0 on cost
Housing properties are principally properties available for occupation and are stated at cost
less any provision for impairment (representing a diminution in the recoverable service
potential of the asset below its carying value in the balance sheet) less deprecialion. Cost
includes the cost of acquiring land and buildings, and expenditure incurred in respect of
improvements.
Improvements are works to existing properties which result in the net management charges
being maintained or enhanced, by a reduction in ongoing maintenance costs or a significant
extension of the economic life of the property. Major components of housing properties,
such as kitchens, bathrooms, windows and central heating systems have been accounted
for and depreciated separately from the housing property itself, over their expected
economic lives.
Taxation
The charity is exempt from corporation tax on its charitable activities.
Page 9
continued...

Sutton Turner Houses
Notes to the Financial Statements - continued
for the Year Ended 5 April 2024
ACCOUNTING POLICIES - continued
Fund accounting
General reserves are unrestricted funds which can be used in accordance with the charitable
objectives at the discretion of the trustees.
Restricted funds can only be used for particular restricted purposes within the objects of the
charity. Restrictions arise when specified by the donor or when funds are raised for
particular restricted purposes.
INVESTMENT INCOME
2024
2023
Investment dividends received
Deposit account interest
Investment interest received
1,825
702
708
3,622
187
4,066
3,235
7,875
NET INCOMEI(EXPENDITURE)
Net Incomel(expenditure) is stated after chargingl(crediting):
2024
2023
Depreciation - owned assets
Independent examiners remuneration
34,080
4,052
(31,914)
3,498
The total costs of £145,163 (2023 £187,404) attributable to the provision of accommodation
to people of limited financial means and elderly people of the City of Derby, as shown on
page 6, is comprised of £140,127 (2023 £118,918) of charitable activities costs and £72,146
(2023 £68,486) of management costs.
The negative figure of £31,914 in the comparative period (2023) described as Other, is the
total of depreciation corrections and charges for the year as noted above.
TRUSTEES. REMUNERATION AND BENEFITS
There were no trustees, remuneration or other benefits for the year ended 5 April 2024 nor
for the year ended 5 April 2023.
Trustees. expenses
There were no trustees, expenses paid for the year ended 5 April 2024 nor for the year
ended 5 April 2023.
Page 10
continued...

Sutton Turner Houses
Notes to the Financial Statements - continued
for the Year Ended 5 April 2024
2023 COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
Unrestricted Restricted
funds
funds
Total
funds
INCOME AND ENDOWMENTS FROM
Charitable activities
Provision of accommodation to people
of limited financial means & elderly
people of the City of Derby
144,385
144,385
Investment income
7,875
7,875
Total
152,260
152,260
EXPENDITURE ON
Charitsble activities
Provision of accommodation to people
of limited financial means & elderly
people of the City of Derby
182,417
4,987
182,417
4,987
Raising funds
Other
{31,914)
(31,914)
Total
155,490
155,490
Net gainsl(losses) on investments
(25,668)
(25,668>
NET INCOMEI(EXPENDITURE)
(28,898)
(28,898)
RECONCILIATION OF FUNDS
Total funds brought forward
1,474,321
1,474,321
TOTAL FUNDS CARRIED
FORWARD
1,445,423
1,445,423
Page11
continued...

Sutton Turner Houses
Notes to the Financial Statements - continued
for the Year Ended S April 2024
MANAGEMENT FEES
Mr G Neville of Messrs. Nelsons Solicitors served in the role as Clerk to the Trustees.
Payments amounting to £63,058 (2023 £60,000) were made during the year in respect of his
services.
VALUE FOR MONEY METRICS
The Value for Money Standard and accompanying Code of Practice issued by the Regulator
of Social Housing in April 2018 introduced a requirement for all social housing providers to
publish details of performan￿ using a standard set of metrics, and to include these in their
statutory accounts. The trustees have considered the requirements therein and as the
charity qualifies as a small provider, have followed the relevant guidance. The metrics which
they are required to report are as follows:
Metric 1 Reinvestment O % (2023 0 % )
Metric 2a - New Supply (Social Housing Units) O % (2023 0 %
Metric 2b - New Supply (Non-social Housing Units) O % (2023 00/0)
Metrlc 3 - Gearing -1.190/0 (2023 -3.49 % )
Metric 4 - EBITDA MRI Interest Cover O /0 (2023 00/0)
Metric 5 - Headline Social Housing Cost per unit £3,752 (2023 £3,166)
Metric 6a - Operating Margin (Social Housing Lettings) 7.28 % (2023 15.21 % )
Metric 6b - Operating Margin (Overall) 42.41 % (2023 18.99 % )
Metric 7 - Retum on Capital Employed 4.890/0 {2022 2.00 % )
TANGIBLE FIXED ASSETS
Improvements Fixtures
to
and
propety
fittings
Freehold
property
Totsls
COST
At 6 April 2023 and 5 April 2024
990,725
365,187
8,314 1,364,226
DEPRECIATION
At 6 April 2023
Charge for year
148,117
19,810
91,697
14,270
8,314
248,128
34,080
At 5 April 2024
167,927
105,967
8,314
282,208
NET BOOK VALUE
At 5 April 2024
822,798
259,220
1,082,018
At 5 April 2023
842,608
273,490
1,116,098
The freehold property consists of 2 estates, namely the Elizabeth Tumer Estate, which has a
market value of £870,000, and the Annie Sutton Estate which has a market value of
£2,605,000. These valuations are not reflected in the financial statements.
The freehold land and buildings were valued at 30 October 2017 by Gadsby Nichols on an
open market basis.
Page 12
continued...

Sutton Turner Houses
Notes to the Financial Statements . continued
for the Year Ended 5 April 2024
FIXED ASSET INVESTMENTS
Listed
investments
MARKET VALUE
At 6 April 2023
Additions
Disposals
Revaluations
287,941
267,252
(296,221)
21,154
At 5 April 2024
280,126
NET BOOK VALUE
At 5 April 2024
280,126
At 5 April 2023
287,941
The investments are overseen by a Fund Manager and IFA who are both UK based.
In addition to the amounts noted above cash of £24 (2023 £18,755) was held by Abrdn
(2023 Rathbones). The cash is included in the Cash at bank and in hand figure in the
balance sheet.
10. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024
2023
Maintenance contributions due
1,676
11. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024
2023
Accrued expenses - accountancy
Maintenance contributions refundable
4,050
294
3,496
4,344
3,496
Page 13
continued...

Sutton Turner Houses
Notes to the Financlal Statements - continued
for the Year Ended S April 2024
12. MOVEMENT IN FUNDS
Net
movement
in funds
At
5.4.24
At 6.4.23
Unrestricted funds
General fund
Property maintenance fund
(formerly Extraordinary repair fund)
1,410,198
(32,100> 1,378,098
35,225
(35,225)
1,445,423
(67,325) 1,378,098
TOTAL FUNDS
1,445,423
(67,325> 1,378,098
Net movement in funds, included in the above are as follows:
Incoming Resources Gains and Movement
resources
expended
losses
in funds
Unrestricted funds
General fund
Property maintenance fund
(fomierly Extraordinary repair fund)
158,739
(211,128)
20,289
(32,100)
(35,225)
(35,225)
158,739
(246,353)
20,289
(67,325>
TOTAL FUNDS
158,739
(246,353)
20,289
(67,325>
Comparatlvos for movement in funds
Net
movement
in funds
At
5.4.23
At 6.4.22
Unrestrlcted funds
General fund
Property maintenance fund
(formerly Extraordinary repair fund)
1,439,096
(28,898) 1,410,198
35,225
35,225
1,474,321
(28,898) 1.445,423
TOTAL FUNDS
1,474,321
(28,898) 1,445,423
Page 14
continued...

Sutton Turner Houses
Notes to the Financial Ststements - continued
for the Year Ended 5 April 2024
12. MOVEMENT IN FUNDS . contlnued
Comparative net movement in funds, included in the above are as follows:
Incoming Resources Gains and Movement
resources
expended
losses
in funds
Unrestricted funds
General fund
152,260
(155,490)
(25,668)
(28,898)
TOTAL FUNDS
152,260
(155,490)
(25,668)
(28,898)
The Trustees have reduced the allocation of funds in the Property maintenance fund
(fomierly the Extraordinary repair fund) on the basis that the funds currently being held in a
building society account represent an appropriate level of cash reseNe, readily available to
cover any unexpected property maintenance, and all other assets therefore represent the
General fund.
13. RELATED PARTY DISCLOSURES
There were no related party transactions for the year ended 5 April 2024.
Page 15

Sutton Turner Houses
Detailed Statement of Financial Activities
for the Year Ended S April 2024
2024
2023
INCOME AND ENDOWMENTS
Investment income
Investment dividends received
Deposit account interest
Investment interest received
1,825
702
708
3,622
187
4,066
3,235
7,875
Charltable activities
Weekly maintenance contributions
Voids
159,635
(4,131)
156,700
(12,315)
155,504
144,385
Total incomlng rasources
158,739
152,260
EXPENDITURE
Charitable actlvltles
Rates and water
Insurance
Light and heat
Call alarm system
Garden maintenance
Sundries
Propety maintenance
Extraordinary maintenance
Reactive maintenance
2,469
3,797
1,384
6,448
21,774
2,201
17,303
59,542
25,209
1,905
3,897
1,596
4,736
13,042
2,306
19,469
58,798
13,169
140,127
118,918
Other
Depreciation
34,080
(31,914)
Support costs
Management
Accountancy and legal fees
Clerk's remuneration
4,052
63,058
3,499
60,000
67,110
63,499
Finance
Investment advisor charges
5,036
4,987
This page does not form part of the statutory financial statements
Page 16

Sutton Turner Houses
Detailed Statement of Financial Activitles
for the Year Ended S April 2024
2024
2023
Total resour￿5 expended
246,353
155,490
Net expenditure before gains and
losses
(87,614)
(3,230)
Realised recognised gains and losses
Realised gainsl(losses) on fixed asset
investments
(865)
6,892
N8t (expenditure)lincome
(88,479)
3,662
This page does not fomi part of the statutory financial statements
Page 17