REGISTERED CHARITY NUMBER: 1155282
TrustOos' Report and
Flnanclal Statements
for tho Yoar Ended 31 March 2025
The LIvorsag• Trust
Boume & Co.
Statutory Auditor5
47a Queen Street
Derby
D8rbyshir8
DE13DE

Tho Llvgrsage Trust
Contents of the Flnanclal Ststements
for the Year Ended 31 March 2025
Pag•
Trustees. Report
1 to 6
8tatomont of Truste•s' Rosponsibllitlos
Report of the Independent Audltors
stat•mont of Flnanclal Actlvltlos
10
Balance Sheet
11
Cash Flow Ststamant
12
Note5 to the Cash Flow Statsment
13
Notes to the Flnanclal Statements
14 to 24

The Llversage Trust
Trustees, Report
for the Year Endod 31 March 2025
The Trustees present their report with the financial statements of th8 charity for the year ended 31 March 2025. The
Trustees have adopted the provisions of Accounting and Reporting by CharitSes'. Statemenl of Recommended Practice
applScable to charltles proparlng their accounts In accordance wilh the Finan¢ial Reporting Standard applicable in the UK
and Republic of Ireland {FRS 102) (effective 1 January 20191.
The Trustees present their report to accompany the accounts for the period ending 31 March 2025.
REFERENCE AND ADMINISTRATIVE DETAILS
Roglstsred Charlty Name: The Liversage Trust
Charlty Number: 1155282
Prlnclpal Offlco: Liver5age Trust, 21 Aice Street, D8Tby. DE12BY
Trustees: The Trustees who served during the year. all of whom are volunteers, were as follows:
Mr Malcolm Allsop {Chairl
Ms Sue Glithero (VI￿ Chair)
Mr Les Allen
Mr Tim Benson (Nominated by the Parochial Church Councll)
Mr John Brtttain
Mr Richard Docker
Mr Michael Foote
Mr Don M¢Lure
Cllr Shiraz Khan (between 01104124 and 17105124- Nominated by Derby City Council)
Cllr Tim Prosser (from 22105124 - Nominated by Derby City Councll)
Mr Roy Webb
General Managor: Andrew Mellors BA {HONSI PGDIP CERT CIH
Audltor: Boume & Co. 478 Queen Street, Derby, DE13DE
Bankors: Natwest Bank, Crompton House, Derwent Street. Derby, DE12ZG
Sollcltors: Flint Bishop LLP St. Michael's Court, St. Michael's Lane, Dertiy, DE13HQ
Penslons Advlser: Steve Cant and A$S￿lateS Ltd, 61 High Road. Chilwell, NG9 4AJ
HR Advl$•r: Guardian Support, Lyndon House. 62 Hagley Road, Bimiingham, B16 8PE
Health & Safety Advlser: Howarths. Newbury Court. Brooke Street, Cl8ckheaton. BD19 3RR
The Trust promotes whistl&blowing services offered by the Charity Commission and Protect and is a member of th8
National Association of Almshouses, which is a support charity repr858nting 1,600 independent Amshouse charits'es
throughout the United Krngdom.
In 2024125. the Trust continued to manage six properb8s owned by the Lillian Prime Trust, a small local charity that
supports people diagnosed with Multiple Sclerosi5. Separate adminislrative and financial arrangements a￿ in place, and
Trustses receive regular reports of th8 affangement, which Is set to conunue into the next finanoial year.
OBJECTIVES AND ACTIVITIES
The objects of the Charrty, as expressed in the Conststution are: lo provide relief eith8r generally or individually to thos8
persons resident in the area of benefit who are in need, hardship or distress {including but not limited to those who are
aged, sick or infirm) through the provision of grants. alms or other resSdential accommodation. housing, services. facilities
andlor good$..
Pag8 1

The Llversage Trust
Trustees. Report
for tho Year Ended 31 March 2025
The Llversage Trust is an Amshouse Chartty providing accommodation for eldedy and frail older people and maklng
grants for the relief ol povety- The Trust OP8rates exclustvely within the City of Derby. We provide 163 homes for
independent older peopl8 on four eslates across the clty, and manage a 40-bed residential Care Home. Liversage Court,
which provides residential care for frailer elderfy people. We also provide grants to residents in Derby, who are in
hardship. to help them obtain e$senlial household items, and offer limited financial support to people at a time of crisis.
Our portfolio also includes a small number of houses and flats that are let without age restriction, and a few commercial
premises that provide an income to support our charitable activities.
Trustses ensure through good goveman¢e that the aims and objectives of the Trust are achieved, and fvlly comply wilh
their duty. as described in sectron 17{$1 Charities Act 2011, to have due regard to the Charity Commission's public
benefit guidanc8 when ex8rcising any powers or duties to which the guidance is relevant.
Trustees review goveming documents on a regular basis and policy on grant making annually, with guidelines updated
and easily accessible lo all. For 2024￿5, the total grants budget was maintained to enable us to continue assisting as
many residents as possible across Derby.
STRUCTURE, GOVERNANCE AND MANAGEMENT
The Liversage Trust is estsblished as a Charitable Incorporated Organisation. The Charitys origins date back to 1529,
founded by the Will of Robert Liversage. The current Governing Instrument is a Scheme made by the Charty
Commissioners on 18 February 1971, which stands as amended by subsequenl Schemes.
This year. 2024125. marked the first full year of our revised meeting structur8. following a 'Gov6mance Revlew. whlch
began in 2022. This culminated in a number of minor changes made to the Trust's Constitution on 4 April 2023,
alongside changes to standing orders and financial regulations to ensu￿ operating rules accurately reflect our revised
mode of operation. while maintaining the distinction ba￿een Governance and Management. The new approach was
implemented from January 2024 onwards and saw the Trust rnove from a series of stsnding committee$ {Care Home.
Estates, Finance and Stral6gi¢ Policy Panel) which reported to Board on a quarterly basis. to bi-monthly Board meetings
covering all aspects of the Trusys operations. The new approach was reviewed by Board in October 2024. Whe￿ it was
noted that, overall. the new approach had proved successful, with Trustees happy wlh the new arrangements and Trust
business being completed satisfactorily.
Our current Constitution allows for up to ten appointod Trustees, plus one ex-offi¢io Trustee (the Vicar of St Peter's
Church that currently remains vacant, following retirement of the previous post-holderl and nominated Trustees lone
each from Derby City Council and the Parochial Church Council. which would include thg Vicar of St Peterfs Church.
should this post be pe￿anentlY filled). In selecting individuals for appointment, the Charity Trustees have regard to the
skills. knowledge and experience needed for the effecttve administralion of the Charity.
All new Trustees are supplied with a comprehensive induction pack including the Govemlng Instrument, latest publlshed
Accounts, and a copy of 'Standards of Amshouse Management, published by the Almshouse Association. They are
invited to have an Induction meeting wlth the General Manager. Training for Emjth new and serving Trusl885 is mainly by
attending seminars organised by the Amshouse Association. either in person or wrtually, although tailored group training
is provided in areas such as 'recruitment and selection, and equality and diversity-, Representstives from the Trust also
regulady attend the East Midlands Almshouse Association Regional Meeting to ne￿ork with other almshouse charities
and be updatsd on best practice. A specific budget is maintained to support training and development.
During the first full year of our new goveman¢e approach. the Board of Trustees met seven times. Policies and operating
procedures continued to be regularfy reviewed throughout the year which, during 2024125, included Flexible Working,
Almshouse Residents and Visitors Complaints Policy, and Powered Mobility Aids.
Page 2

Tho Llversago Trust
Trustees. Report
for th8 Year Ended 31 March 2025
Markotlng
Over the last few years. the Trust has worked hard to improv8 our marketing strategy for the Trust and d8V81op our brand
to improve awareness of the fijll Tange of work undertaken by the Charity and the support we offer. During 2024125, the
Trust continued its partnership with a local c>)mpany called Imaginaire, to assist with our online social media presenca
and to update and maintain key platfomis for promoting our services and providing vital information to residents. Moving
forward, we will continue to explore extending partnership working through this approach, while continuing lo develop
existing partnerships, operating a range of organisations to ensure we reach those Derby people most in need of our
Support. A good example is in delivering our Household Fund Grants. where we work closely with Derby City Council.
housing associations. health service, probation, Derby Women's Centre, and other local charities to provid8 people in
need with essential household items.
ACHIEVEMENTS AND PERFORMANCE
The Liversag& Trust continu85 to make a positiv8 difference to the lives of Ils beneficlaries. At its core is maintaining
quality housing and support for older people. at a cosl well below market levels.
Malntalnlng the property portfollo
The value of properties is maintained through ongoing investment in repair and renovation. The in-house maintenanc8
team deliver a responsive repairs service. supported by specialist contractors as required, while major ¢apitsl projects
are tendered to ensure the right balance between quality and valu8.
The Trust has adopted a policy of applying revenue income to upkeep its housing stock and 8ndowmonl property and
remains committed to upgrading s8rvices and facilities for its ￿Sidents. meeting major expenditure. where appropriate.
from designated reseNes. We have a comprehensive investment programme to 2038139, detailing costs and fijnding for
major works and additions to our portrolio.
While the18St few years have been dominated by high in)lation, this has necessitated regular review and re-prioritisation
of projects. owing to issues such as cost increases. supply of materials and contractor availability. Despite this, in
2024125, the Trust still completed several major improvement projeds. This included refurbishment of bathrooms at
Franchise Street and Nottingham Road, replacement of ga$ fires with electrical fires for all residents who wanted to
swap. replacement smoke alamis for all properties, new rear doors at Franchise Street bungalows, n8w roofs at Arthur
Hind Close. n6w kitchens at Franchise Street and improvements to Fran¢hi$e Slreet car park and external painting of the
estste. Where work has been Completed, residents benefiting from these programmes have been highly dalighted with all
the work and improvements undertaken.
Whlle loss of income from our commercial propety portfolio has generally remained a low risk over the last few years.
rental growth remains limited owing to 0th8r market factors such as properties not occupying prime city centre locations,
propety age, and current market position. While the overall position is kept under rovi8w, we also continue to explo
allemative options for longer-lerm investrnent income. This inciudes conlinued review of opportunities to extend our
portfolio. mainly focusing on making the most out ot existing assets.
Truste8$ conllnu8 working towards a conv8rg6d 'renV structure for resldential property. revlewlng our approach during
the year to bring greater parity betsveen charges for similar properbes. applying a modest increase in weekly
maintenance contributions year on year.
Ensurfng an effectlvo Serv1￿ for resldents
We cary out an annual review of resident support p￿ferenCeS and adapt our Service to meet the requirements
expressed. Residents Continue to benefit. as required. from regular visits. telephone contact. and free emergency call
alami technology. Our Resident Support Officer IRSO) position rernains a strong advocate for all residents. while also
supporting residents with more complex needs to access wider and specialist support servI￿s, making a positive
difference to people's lives. For example, this ran be seen in the On￿oing work lo support indivtdual residents to claim all
benefits that they are entitled to and assisting with arrangements for emergency respite care. As many of our residents
live alone and do not have extensive family support networks, our RSO and wider staffing team often go above and
b8yond to help in times of need, visiting residerrts who have been admltted lo hospltal and bringing them thelr personal
belongings to make theSr stay in hospital more comfortable. The Tnjst provides a Community Centre resource on tsvo
estates. which benefits not only our residents, but the wtd8r community. W8 also arrange and promote a variety of
outings and activities for residents to enjoy, should they choose to take part. We hold regular meetings with ￿SIdentS
across all our estat8s, produce and distribute a newsletter tsvice a year and share individual estate updates on a more
regular basis. which are welcomed by all residents.
Page 3

The Llvorsagfr Trust
Trustees. Report
for the Year Ended 31 March 2025
In 2016. our Care Home was one of a select few in Derby to be rated 'GOOD' by the Care Qualty Commi$$ion {CQGI in
each of the five fundamental standards of care. After a re-inspection in December 2018, we retained this rating and have
continued to do so up to the present time, induding during the COVID outbr8ak and more recent implementation of their
new regulatory approach. The CQC after our last inspecllon stated thal people living at Liversage Court receive a good
servtce. They stated: 'People told us how happy they were there and how Ihe service met their individual and diverse
ne8ds. Staff were very positive about their work. and clearfy respected each person as an individual. supporting them
with kindness and good humour.. Since this time, staff have continued lo work hard. despite on-going challenges in the
sector, to maintsin this approach and to provide a safe, effeclive. caring, r8sponsive and well-led service. TTUStees
strengthened this approach during the current year, by commissioning an independent review of our care home
operations. specrfically designed to look at potential capital improvements within the home, and on-going wability. From
Ihis, a number of recommendations were highlighted and considered by Trustees. leading to a number of capital projects
being included within the care home's future ¢apilal works programma, while providlng rèassurance that th8 homé is
indeed well-run and continues to be a viable on-going concem.
Wlder communlty ￿n•flts
The activities and partnership working of the Liversage Trust also delivers wider benefits to the people of Derby. We
work dosely with a range of organisations in delivering our Household Fund Grant service to ensure we reach Derby
people most in need of our support. Throughout 2024125. WOTk has continued to improve grant-giving s8rvices.
particularly focusing on making the application process as simple as possible, while still ensuring quality of infomation
received. We also continued to provide emergency aid to Derby residents via the Janet Till Crisis Fund (named afler our
late fomer Chairl which. as well as providing funds for utility aid or food, also covers emergency travel costs for Derby
residents to access rehabilltation Services. complementing household goods already on offer. Where posslble, we also
refer residents and applicants into wder extemal support programmes. particulady those led by Derby City Council to
support individuals who ar8 Struggling under conllnuing 'cost of living, pressur8S. SO that as much support as possible is
given to those who need il.
Since April 2016. the Trust has also delivered a management role for six properties owned by Lilian Prime Trust.. a small
Derby-based charity that provides homes for people suffering from Mulliple Sclerosis or any other physical or mental
disability and in need of housing and any other associated amenities specifically designed or adapted to meet their
needs. The drivtng force behind our involvement being Lilian Prtme Trustees, belief that we could deliver improved
services to their ￿SIdents. This has proved to be the Case, and we continue to make a positive difference to the liv8s of
individual resid8nts of that charity. arranging regular repairs. well-being visits and access to emergency alarms and
support servS¢es.
We also work closely with 'Poss+Abilities Dance and Fitness Group. a Derby-based organisation providlng support and
opportunities for adults with differences ￿here anything is possible.. They run classes three times a week from our
community centre at Ai¢e St￿et, while we have also organised joint evenls and garden parties for residenls and the
wider community to enjoy together.
Investment perfomiance
While the Trust's investment performance over th8 last few years has lluctuated widely. owing first to COVID and then
wodd-wide events. the Trust's investrnent performance during 2024125 has continued to be based on the following
objectives set by Trustees. which include..
Pre$erye and enhance wh8r8 possible the valu8 of investrn8nts without taking undu8 risks.
Retain minimum daily balances in the Bank account and Charities Official Investment Fund (COIFI deposit fvnd of
£100,000 and £250.000. respectively.
Retain sufficient liquid assets to respond lo opportunitles as they arlse to strengthen our exlstlng asset base.
Only encash medium-tenn investments when required and when profitable to do so.
Reduce risk by Spreading investment over a wide range of slocks and shares via Common Inveslment Fund5
Limil investment in banks and building societi8S to totals cov8r8d by the Financial Services Compensation Sch8me
{FSCS).
The Trusvs investment policy continues to be based upon security, liquldity. income. capital growth. and no other factors.
Short and medium-term investments lof betsYe8n 5 and 10 years) are principally wa large holdings in CCLA COIF
Investmenl Fund and Propety Fund and M&G Funds (previously NACCIF). In 2024125. investment perfoThance in these
holdings for the most part, performed well and that, overall, expectation on the retum frorn long-term investments
remains positive and is expected to exceed inflation over lime. The Trust receives monthly reports from Fund Managers
and meets with them as appropriate, for additional expert advice.
Page 4

The Llvorsago Trust
Trustso$' Roport
for the Year Ended 31 March 2025
FINANCIAL REVIEW
The Trust's aim is to preserve and enhance the Trusys asset base and invest wsely to secure the long-term
sustainability of the Charity. particularfy as the Trust is currently in the fortunate posltlon to be flnanclally stable and
self-sufficient. The aim is to ensure that expenditure on housing and support aclivities. including appropriate contributions
to designated r8serves. are met by income generated by those activities, with any surplus regarded as supplementing
charitable giving. We also have a capital programme detailing proposed work up to 2038139 and have estimated thal to
meet the costs of all work identified, encashment of some inv8Stments may be r8quir8d, in additlon lo use of re$erve$.
Taking account of recent market conditions and future objeclives, Trustees during 2024125, agreed to review current
arrangements for managing the Trusfs investment portlolio. seeking independent advice and recommendations on how
best to optimise retums and fund longer-temi projects. After an op8n tend8r process, PMCL Consulting undertook the
review. providing a report in March 2025. giving Trustees a comp￿hen$1ve ovetview of the Trusys current investment
strategy and management arrang8ments, along wilh a series of ￿0)MMendatIOnS to be considered moving into the n8W
Financial Year.
Reserves posltlon
The Trust 1$ in a strong po$itson in tenns of both its revenue account and balance sheet and holds investments in a range
of funds including Common Investment Funds. Charities Officlal Investment Fund Deposits and M&G's Charifund and
Charity Mulli Asset Fund. Our approach is set out in our Reserves Policy.
A salient feature of the Trust's plan is to continue, as far as rosources pom1￿, to bulld up Investments to meet expected
demands and to take advantag8 of opportunities lo add to its housing and commercial propety base. At the year end, we
hold £9.8m investments that will help realise the Trusvs future development ambitions and is more than adequale for the
Trust's long-term stability. We have made material transfers into reserves over the last few years. specifically into our
Propety Development Fund. to support our planned residential conversion and development programme to 2039.
Having completed the refurbishment of Alice Street Works Into th6 Trust's new Maintenance Depot and Main office: this
is a first stspping-stone to further refurbishment work at our London Road estate. which is currently being considered,
b8fore potential and slgnificant development of new build properties at Clarke Street.
Managlng Rlsk
The Trust, in addressing the matter of risk management and assessrn8nt. has in place an extenslve system of intemal
controls including regular meetings. extemal and intsmal audit, budget monitoring. management accounts. Standing
Orders. Financial Regulations and a variety of written policies. Al policies are subject to planned. periodic review. We
maintain a Health and Safety Action plan with support from th8 Trusvs appoinled 'competent person. under The
Management of Health and Safety at Work Regulations 1999. Thls is ￿gUladY reviewed by Trustees.
Throughout 2024125. we have continued to build upon our updat8d Risk Regist6r and reporting approach, especially with
regard to our new governance approach. building on a comprehensive revlew undartaken in 2017118. ensuring that
Board considers allocated risk at appropriate frequencies. Five main risk areas are identi)led including governance.
operational. financial, environment or external factors and compliance risk. For each section. 58veral risk5 are identified
and are determined as either a low. medium. or high risk-. the majority being low risk. Changes in risk level are updated
regulady, and any mitigating actions undertaken to offset that risk are detailed. alongside general comments and when
risk levels will be reviewed. Current prinGipal risks identified include the ag8 profile of Trust88s. a dependence on l or
loss of key staff, especially at Liversage Court. the return of a serious @pidemic including Covid, cosl overruns on major
capital projects funding the long-tetm capital programme and inappropriate investment de¢isions.
We are registered with the Infomiation Commissionerfs Office IICO) and undertook a considerable amount of work in
2017118 to ensure compliance with the General Data Prolection Regulation IGDPR) beginning May 2018. Throughout
the current year, we have assessed perfoman¢e and continue to refine our approach. including looking at different
approaches towards encrypting email accounts and reviewing policies and procedures.
Page 5

The Liver5age Trust
Trustees, Report
for the Year Ended 31 March 2025
CONCLUSION
With continuing high inflation and on-going 'cost of living. pre55ures creating a difficult environment in which to operate,
2024125 has continued lo present significant challenges. both to the Trust and those that use our services. Despite this.
the Trust continues to meet any challenges thrown at us 'head on, and has continued to achieve its principal object of
providing affordable accommodation for older and frail elderly people and making grants for the relief of poverty in Derby.
During the past year, the Trustee body has..
ensured that the Trust continues to provide quality seNices that are tailored to the needs of residents and
vulnerable individuals, providing essential support and assistance in an ever-changing environment.
settled well into our new office and maintenance depot and have conkn.nued planning for further refurbishrnent and
development work, across the Trust's property portfolio.
successfully implemented and reviewed a new governance approach.
conb'nued to retain our 'Good' rating for our Care Home. while operating in a challenging sector and have reviewed
on-going viability and capital investment required into the building fabric.
maintained our grant awards to SLJPPOrt local people in need of crisis support, while maintaining support for
household items
maintained our properties in good repair and continued our ambitious capital programme.
Approved by order of the Board of Trustees on 24 November 2025 and signed on its behalf by..
Mr Malcolm Allsop jchairj - Trustee
Page 6

The Llversage Trust
stat•m•nt of Trustsos. Rosponslbilitlos
for th8 Year End8d 31 March 2025
The trustee$ are responsible for preparfng the Tru5tee5' Report and the financial statements in accordance with
applicable law and Unlted Klngdom Accounllng Slandards Iunlted Klngdom Generally Accepted Accounting Pracllce)
including Financial Reporting Standard 102 "The Financial Reporting Stsndard applicable in the UK and Republi¢ of
Iroland..
The law applicable to charities In England and Wales, the ChariUes Act 2011, Charity {Accounts and Roports)
Regulations 2008 and the provisions of the trust deed requires the Irustee$ to prepare financial statements for each
financial year which give a true and fair view of the stale of affairs of the charity and of the incoming resources and
applicalion of ￿SourCes, including the incom8 and expenditure. of the charity for that pettod. In preparing thos8 financial
statements, the trustees are required to
select suitab18 accounting policies and then apply them consistendy.,
obsetve the methods and principles in th& Charity SORP.,
make judgements and eslimales Ihat are reasonable and prudenl.,
state whether applicable accounting standards have been followed, $ubje¢t to any material departures disclosed and
explained in the financial statements,.
prepare the financial statements on the golng concem basis unless It is inappropriate to presume that the charity will
continue in business.
The trustees are responsible for keeping proper attounting records which disclose with reasonable accuracy at any time
the financial position of the ¢harity and lo enable them to ensure that the finan¢ial statements Comply with the Charities
Act 2011, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the trust deed. They a￿ also
r6sponslble for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and
detection of fraud and other 1r￿guI8r1tie$.
Page 7

Roport of the Independent Audltors to tho Trustoes of
The Llversago Trust
Oplnlon
We have audited the financial statements of The Liversage Trust {Ihe 'charity') for the year ended 31 March 2025 which
comprise the Statement of Financial Activities, the Balance Sheet. the Cash Flow Statement and notes to the financial
ststements, including a summary of significant accounting policies. The financial reporting framework that has been
applied in their preparation is applicable law and United Kingdom Accounting Standards (United Kingdom Generally
Accepled Accountlng Practlce), Includlng Flnanclal Reportlng Standard 102 'The Flnanclal Reportlng Standard applicable
in the UK and Republic of Ireland..
In our opinion the financial statements-
give a true and fair vlew of the state of the charivs affairs as at 31 March 2025 and of its incoming resources and
application of resources, for the year then ended.,
have been properfy prepared in accordance wth United lQngdom Generally Accepted Accounting Practice, including
Financial Reporting Standard 102 'The Financial Reporbng Standard applicable in the UK and Republic of Ireland,:
and
have been prepared in accordance with the requirements of the Charities Act 2011.
Basls for oplnlon
We conducted our audit in accordance with Intemational Stsndards on Auditing (UK) {ISAs {UK)) and applicable law. Our
responsibilities under those stsndards are further described in the Auditors, responsibilities for the audit of the financial
statements section of our report. We are independent of the charity in accordance with the ethical requirements that are
r81evant to our audit of the financial statements in trte UK, including the FRC'S Ethical Stsndard. and we have fulfilled our
other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have
obtained is sufficient and appropriate to provide a basis for our opinion.
Concluslons r8latlng to golng ¢oncorn
In auditing the financial statements. we have concluded that the trustees, use of the going concem basis of accounting in
th8 pr8para￿on of the financlal statements is appropriat8.
Based on the work we have performed. we have not identified any material uncertainties relating to events or conditions
that, individually or collectively, may cast significant doubt on the charity's ability lo continue as a going concem for a
period of at least ￿e1ve months from when the financial statements are authorised for issue.
Our responsibilities and the responsibilities of the trustees with respect to going conc6rn are describ8d in th8 relevant
sections of this report.
Other information
The trustees are responsible for the other infomatSon. The other Infomiation o)mpri$es the Infomation included in Ihe
Annual Report. other than the financial ststements and our Report of the Independent Auditors thereon.
Our oplnSon on the financial statements does not cover Ihe other infomiation and, except to the extent othemise explicitly
stated in our ￿port we do not express any fomi of assurance conclusion thereon.
In wnnection with our audit of the financial statements, our responsibility is to ￿ad the other Infomiatlon and. in doing
so. consider whether the other information is materially inconsistent with the financial statements or our knowledge
obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or
apparent mat8rial rnisslatements, we ar8 required to d8lermine wh8ther this gives rise to a material misstatement in the
financial statements themselves. If. based on the work we have perfomied. we conclude that there is a material
misstatement of this other information. we are required to report that fact. We have nothing to report in this regard.
Mattgrs on whl¢h we arg rnqulr•d to roPQrt by ox¢optlon
We have nothing to report in respect of the following matters vthere the Charities (Accounts and Reports) Regulations
2008 requires us to report to you if, in our opinion-
the information given in the trustees Report is inconsistent in any malerial respecl wlth the financial statements., or
sufficient accounting records have not been kept,. or
th8 financial statements are not in agreement with the accounting records and retums., or
we have not received all the information and explanations we require for our audit.
R•sponslbllltles of trustees
As explained more fully in the Statement of TfUStg0s' Responsibilities, the Irustees are responsible for the preparalion of
the financial statements which give a twe and tsir view. and for such internal control as the trustees determine is
ne¢essary to enable the preparation of )Inancial statements that are free from material misstatement. whether due to
fraud or error.
In preparing the financial statements. the trustees are reswnsible for assessing the charity's ability to continue as a
going concem, disclosing, as applicable, matters related to going concern and using the going concem basis of
accounting unless the trustees either intend to liquidate Ihe charity or to cease operations, or have no realistic alternative
but to do so.
Page 8

Report of tho Independent Auditors lo the Trustsos of
The Llversago Trust
Our responslbllltles for tho audlt of th• financlal stat•ments
We have been appointed as auditors under Section 144 of the Charities Act 2011 and report in accordance with the Act
and relevant regulations made or having effect thereunder.
Our Obje￿Ne$ are to obtaln reasonabl& assurance about wholher th8 financial statements as a whole are free from
material misstatement. whether due to fraud or error, and to issue a Report of the Independent Audilors that includes our
opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in
accordance with ISAS (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud
or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence
the economic decisions of users taken on the basis of these financial statements.
The extent to which our procedures ar8 capable of detecting irregularitles. including fraud is detailed below:
Discussions and correspondence with management, including known or Suspected instances of nonacompllance
th laws and regulations and fraud
Reviewing nominal ledger transactions with particular emphasis on joumal entries posted by management
Being alert throughout our work for anything considered unusual by virtue of size or nature
A fijrther description of our responsibilities for th8 audit of the financial statements is located on the Financial Reporting
Council's websits at wv4w.frc.org.uklauditorsr6sponsibililies. This description forms part of our Report of the Independent
Auditors.
Uso of our roport
This report is made solely to the charity's trustees, as a body, In accordance ￿th Part 4 of lh& Charftles {Accounts and
Reports) Regulations 2008. Our audit work has been undertaken so that we might stale to the charity's trustees those
matters we are required to slale to Ih8m in an auditors. report and for no other purpose. To the fijllest extent pennitted by
law, we do not accept or assume responsibility to anyone other than the charity and the charity's trustees as a body, for
our audit work, for this repo¢ or for the opinions we have fomied.
Boume & Co.
Statutory Auditors
47a Queen Stffjet
Derby
Derbyshire
DE13DE
Date..
2Lf Iii 101)
Page 9

The Llversage Trust
Statement of Flnanclal Actfvltles
forth• Year Endod 31 MaKh 2025
2025
Total
funds
2024
Total
funds
Unrestricted
funds
Restricted
fund5
Endowment
fund
Notes
INCOME AND ENDOWMENTS
FROM
Donations and legacies
32,553
Charftable acllvltles
Provid8 accommodation via
almshouses. shellered housing
and a residential care home for
the residents of Derby
Provide commercial premises for
rent
2,486.940
2,486,940
2.295.572
181.497
181.497
173,685
Investment incom8
Other income
430,275
11,168
430.275
11.168
437.412
21,129
Totsl
3.109.880
3.109,880
2,960,351
EXPENDITURE ON
Charitable actlvities
Provide accommodation via
almshouses, sheltered housing
and a residential care home for
the residents of Dotby
Support financial hardship of
residents of Derby via
Household fund and Chairfs
Crtsis Fund
Provide commercial premises for
rent
2,399,822
2.399.822
2,182,197
39.500
39.500
31,150
6,923
6,923
7.046
Total
2 446 245
2.446.245
2.220,393
Net gains on investments
191.924
5.968
197 892
136.669
NET INCOME
855,559
5,968
861.527
876,627
RECONCILIATION OF FUNDS
Total funds brought forward
24,898,890
250.037
25,148.927
24.272,300
TOTAL FUNDS CARRIED
FORWARD
25.754.449
256,005
26,010.454
25.148,927
The notes fomi part of these finan¢lal statements
Pago 10

The Liversage Trust
Balance Sheet
31 March 2025
2025
Total
funds
2024
Total
funds
Unrestricted
funds
Restricted
funds
Endowment
fund
Notes
FIXED ASSETS
Tangible assets
Investments
Investments
Inveslment propety
13
12,282,696
12,282,696
11.782,646
14
15
9,577,845
3,975.816
256,005
9,833,850
3,975.816
9,433,309
3,852,901
25,836,357
256.005
26,092,362
25,068,856
CURRENT ASSETS
Debtors.. amounts falling due
within one year
Cash at bank and in hand
16
75,332
292,011
75,332
292011
92,667
431,307
367.343
367.343
523,974
CREDITORS
Amounts falling due within one
year
17
1449.251 }
(449,2511
(443,9031
NET CURRENT ASSETS
81,9081
81.9081
TOTAL ASSETS LESS
CURRENT LIABILITIES
25,754.449
256.005
26,010,454
25,148,927
NET ASSETS
25,754,449
256,005
26.010.454
25 148.927
FUNDS
Unrestricted funds
Endowment funds
18
25,754,449
256.005
24.898,890
250,037
TOTAL FUNDS
26,010 454
25.148,927
The financial statements were approved by the Board of Trustees and authorised for issue on 24 November 2025 and
were signed on ils behalf by..
Mr Malcolm Allsop (Chair)- Trustee
Ms Sue Glilh8ro (Vice Chairl - Trustee
The notes form part of these financial statements
Page 11

Tho Llversago Trust
Cash Flow Statement
for the Year Ended 31 March 2025
2025
2024
Notes
Cash flows from operatlng actlvltles
Cash generated from operations
Finance costs paid
490,529
496.638
3,469
Net cash provided by operating activities
486.747
493.169
Cash flows from Investlng acllvltlos
Purchase of tangible fixed assets
Purchase of fixed asset investments
Purchase of investment propety
Sale of tangible fixed assets
Sale of fixed asset investments
Inler6St r6c8ived
(730,7621
(552,6411
1122.915)
{523,535)
(267,901)
(1,145,277)
5.432
1,000.000
437,412
350,000
430 275
Net cash used in inv8Sting activities
626 043)
493.8691
Chang8 In cash and cash oqulval•nts In
the reportlng perlod
Cash and cash equlvalents at the
boglnnlng ol tho reportlng porfod
(139,296)
(7001
431.307
432.007
Cash and Cash oqulvalonts at tho ond of
Ihe reportlng perfod
292011
431307
The notes fO￿n part of these financial statements
Page 12

Tho Llversage Trust
Note$ to tho Cash Flow Stalomont
for the Year Ended 31 March 2025
RECONCILIATION OF NET INCOME TO NET CASH FLOW FROM OPERATING ACTIVITIES
2025
2024
Net Income for the reportlng peTlod (as per the Statsment of Financial
A¢tivltles)
Adjustmonts for:
Depreciation charges
Gain on investments
Loss on disposal of fixed assets
Interest received
Finance costs
Decrease in stocks
Decreasel{increasel in debtors
Increase in creditors
861,527
876,627
195,300
{197.8921
35.406
(430,275)
3,782
145.422
(136,669)
24,783
1437.4121
3.469
2,976
{669}
17.335
Net cash provlded by operatlons
490.529
496.638
ANALYSIS OF CHANGES IN NET FUNDS
At 1.4.24
Cash flow
At 31.3.25
Not cash
Cash at bank and in hand
431.307
139,296
292,011
431,307
139.2961
292.011
Total
431.307
139,296
292.011
The notes fo￿ part of these financial statements
Page 13

The LIvOTsage Trust
Notes to the Flnanclal Ststsments
for the Year Ended 31 March 2025
STATUTORY INFORMATION
The presentation currency of the financial statements is the Pound Sterling {£).
ACCOUNTING POLICIES
Basls of preparlng the flnanclal statements
The financial statements of the charity. which is a public benefit entlty under FRS 102, have been prepared in
accordance wth the Charities SORP (FRS 102) 'Accounling 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 ot Ireland {FRS 1021 (effective 1 January 2019}', Financial
Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ir6land' and the
Charilies Ad 2011. The financial slatements have been p￿pared under the historical cost convention, with the
exception of investments which are included at market value, as modified by the revaluation of certain assets.
Incom•
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the fiJnds, it is
probable that the In￿Me will be received and the amount can be measured reliably.
Expgndlluro
Liabilities are rec>)gnised 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 s8tt1ement and
the amount of the obllgation can be measured reliably. Expenditure 1$ ac¢ounled for on an a¢cruals basis and
has been classified under headings that aggregate all cost related to the category. Where costs cannot be
directly attributed to parttcular headings they have been allocated to activities on a basis consistent with th8 use
of resoutces.
Grants offered subject to conditions which have not been met at the year end date ar8 not&d as a commitm6nt
but not accrued as exp8nditure.
Tanglble fixed assets
Depreciation is provided at the following annual rat8s in ordér to write off each asset over its estimated useful life.
Housing properties for letbng
101A• on cost, 5% on cost, nol provided and b8lw8en 15 to 50
years
not provided and between 15 to 50 years
Non-social housing properties
Fixtures and fittings
33% on reducing balance. 20Yo on reduclng balance and 10%
on cost
25% on reducing balance
Motor vehicles
Propety components Ilfespan are as defined In DCLG Decent Homes Guidance Annex A.
The Board of Trustees has not accounted for depreciation on Its housing propertr8s and non-social housing
properties on the grounds that their estimated remaining useful econom1¢ I￿e exceed$ 50 years.
Houslng propertles
Hou$lng properties a￿ prfn¢ipally properties available for rent and are stated at costlvaluation less any provision
for impairment (representing a diminution in the recoverable semce potontial of the asset below its carrying value
in th8 balance sheet) less depreciation. Cost includ85 the cost of acquiring land and buildings, development
costs. inlerest charges incurred during development and expenditure incurred in respect of improvements.
Improvements are works to existing properties which result in an increase in the net rental inGome, Including a
reduction in maintenancg costs or rgsult in significant extension of the usefvl economic life of the property-
Housing properbes are included at valuation up to and induding th8 last valuation.
Housing properties constructed since 1991 are Included at cost and not depreciated. Component additions
since April 2011 are ¢apitalised and the component is depreciated over its de8med u58ful life.
Housing properttes in the course of construction are induded al cost and not depreciated.
Page 14
continued...

Tho Llversago Trust
Notes to the Flnanclal Statements - contlnued
for the Year Ended 31 March 2025
ACCOUNTING POLICIES - contlnu•d
Tangible fixed assets
The disposal proceeds from proportios owned outrlght are Includod In tumover and the surplus or deflclt Is
accounted for in the Statement of Financial Activities in the period in which the disposal occurs as the difference
between the net sale proceeds and the net carrying value.
Works to oxlstlng houslng propèrtles
Expenditure on e￿sting housing properties is capitalised when it is either capable of generating increased future
rents, extends their usefijl economic lives or significandy reduces future maintenance costs. Al other
6xpenditur8 in r6sp8cl of general r6pairs to housing stock is charged to th& Statèment of Financial activities as
incurred.
Impalnnent
All properties are conside￿d for impaiment annually and delailed reviews of assets for impaimient a￿ carried
out if there is an indication that impaimient has occurred or rf they are not being depreciated.
Impainn6nts thal are a result of a major reduction in the servic8 Potential of a property are recognised in the
statement of Finan¢ial Activities. Impaim)ents that reflect general change$ in price are, where the propety is
shown at a valuation. recognised in the statement of total recognised surpluses and deficits until the value of the
asset falls to depreciated historical cost.
Further impaimients. or the fvll impairnent if the propety has not been revalued, are then recognised in the
Statement of Financial Activities.
Soclal Houslng Grant (SHG) and Othor Grants
Grants received as a contribution towards revenue expenditure are matched agalnst thal expenditure by being
included in turnover in the Statement of Financial Activities. The related expenditure is included under operating
costs. Grants are recognised in the same period as the related expenditure provided the conditions for receipt
have bean satisfiod and Ihere is r8asonable assurance thal Ihe grant will be receiv•d.
Grants received as a contribution towards th8 capital cost of a scheme and its properties are included at historical
cost, Ihe total grant receivable is deducted from the cost of housing properties.
In certain circumstances. such as the sale of housing properties, SHG may be repayable. and, in that event. is
subordinated debt and is accounted for as soon as the liability arises within creditors- amounts falling due within
one year.
Taxallon
The ¢harity is exempt from tsx on Its charltable a￿1VitIes.
Value added tax
The Trust Is not registered for value added tax. Al expenditure Whe￿ applicable is shown inclusive of value
added tax.
Fund accountlng
Unrestrictsd fvnds can be u$ed in accordan￿ with the oharitable objectives at the discretion of the Irustees.
Restricted funds can only be used for particular restricted purposes within the objects of th8 charity. R8slrictions
arise when specified by the donor or when funds are raised for particular restricted purposes.
Further explanation of the nature and purpose of each fvnd is included in the notes to the financial statements.
Investments
Investments are carried at market value. Upwards revaluations are reported in the Statement of Financial
Actimties and credited to a general reseNe or the designaled fund in which the investrnent is held. Diminutrons
In value are recognlsed In the Stalement of Flnanclal Activities until the Inveslment revaluallon reserve In respect
of that asset no longer exists.
Golng concem
After revi8wing the Charitys forecasts and projections. the trustees have a reasonable expectation that the
charty has adequate resources to continue in operational exist8nce for the foreseeable future. The Charity,
therefore continue5 to adopt the golng concem poliw in preparing Its finanual statsments.
Page 15
continued...

The Llversage Trust
Notes lo the Flnanclal Statomonts - contlnuod
for th8 Year Ended 31 March 2025
DONATIONS AND LEGACIES
2025
2024
Donations
32,553
INVESTMENT INCOME
2025
2024
Bank interest
M&G Securities Funds income
CCLA Investment income and Dgposlt Intsr8sI
4,076
354,287
3,392
330,785
103 235
430,275
437.412
INCOME FROM CHARITABLE AcTIV￿lEs
2025
2024
Activity
Provide accommodation via almshouses,
Almshouse & market propety sheltered housing and a residential care
rents
home for the residents of Derby
Provide ac¢ommodation via almshouses.
sheltered housing and a residential care
home for the residgnts of Derby
Provide commewal premise$ for rent
1.021,040
949,238
Care hijme residential fees
Commercial rents
1.465.900
181.497
1.346,334
173.685
2.668.437
2.469.257
CHARITABLE ACTIVITIES COSTS
Grant
funding of
activities
{see note
7)
Support
costs {see
note 8)
Direct
Costs
Totals
Provide accommodation via
almshouses, sheltered housing and 8
residential care home for the residents
of Derby
Support financtal hardship of ￿$[dents
of Derby via Household fijnd and Chai¢s
Crisis Fund
Provide commercial premises for ￿nt
2.185.407
84,188
130,227
2.399,822
39.500
39,500
6.923
2 192330
123.688
130.227
2 446.245
GRANTS PAYABLE
2025
2024
Provide accommodation via almshouses. sheltered housing and a residential
care home for the r8sidents of Derby
Support financial hardship of residents of Derby via Household fund and
Chai￿$ Crisis Fund
84,188
87,331
39,500
31.150
123,688
118.481
Page 16
continued...

The Llversage Trust
Nolos to the Flnanclal Statements - contlnued
for tho Yoar Endod 31 March 2025
GRANTS PAYABLE - contlnued
The total grants paid to individuals during the year was as follows..
2025
2024
Winter fuel and water pa￿nentS
Christmas presents - Ajmshouse residents
Amenities fund
Household fund
Chairfs Crisis Fund
Chrislmas hampers
Christmas presents - Care Home residents
39.499
8,600
800
54.972
16.426
1,900
31,150
10,070
800
52.738
21,823
1,900
123.688
118.481
SUPPORT COSTS
Govemance
costs
Provlde accommoda￿On vla almshousos,
sheltered housing and a residential care
home for the residents of Derby
130.227
Included in support costs are Auditors. remuneralion which amounted to £5,000 (2024 - £5,000) and other
non-audit services which amounl8d to £9,640 12024- £10,893).
AUDITORS, REMUNERATION
2025
2024
Fees payable to th8 charitys auditors for the audit of th8 charity's financial
Statements
5.000
10.
TRUSTEES, REMUNERATION AND BENEFITS
There were no twstees. remuneration or other benefits for the year ended 31 March 2025 nor for the year ended
31 March 2024.
Tru$toos' oxwns•s
Expense5 totalling £15 {2024- £915) wer8 rèimbursed to trust88s dudng tho y8ar ended 31 March 2025.
11.
STAFF COSTS
2025
2024
Wages and salaries
Social 5ecuTity costs
Other pension costs
1.271,136
102.040
30.314
1.128.616
83,285
25.676
1.403.490
1.237.577
The average monthly number of employees during the year was as follows:
2025
2024
Senior managemenl
Office staff
Maintenance staff
Resident support and caro horne staff
47
49
60
61
The number of employees whose employee benefits {excluding employer pension costs) exceeded £60.000 was..
Page 17
continued...

The Llversago Trust
Notes to the Flnanclal Statements . contlnued
for the Year Ended 31 March 2025
11.
STAFF COSTS - contlnuod
2025
2024
£60.001-£70,000
2025
2024
£70.001-£80,000
12.
COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
Unrestricted
Restricted
nds
fvnds
Endowment
fvnd
Total
fund$
INCOME AND ENDOWMENTS FROM
Donations and legacies
32,553
32,553
Charltsble a¢tlvltl¢s
Provide accommodation via almshouses.
sheltered housing and a residential care hom8
for the residents of Derby
Provide commercial premises for rent
2,295.572
173,685
2,295,572
173,685
Inveslment incom8
Other income
437,412
21,129
437.412
21.129
Totsl
2,960,351
2,960.351
EXPENDITURE ON
Charltablo a¢tlvltles
Provide accommodation via almshouses.
sh&ltered housing and a ￿SIdentIal care home
for the residents of Derby
Support financial hardship of residents of
Derby vla Household fund and Chaiffs Crfsis
Fund
Provide commercial premises for rént
2.182,197
2,182,197
31.150
7.046
31.150
7.046
Total
2 220 393
2 220 393
Net gains on Investments
4,373
136.669
NET INCOME
872,254
4,373
876.627
RECONCILIATION OF FUNDS
Total fvnds brought forward
24,026,636
245,664
24,272.300
TOTAL FUNDS CARRIED FORWARD
24.898,890
250,037
25,148,927
Page 18
continued...

The Llversage Trust
Notss to the Flnanclal Statements - contlnuod
for the Year Endod 31 March 2025
13.
TANGIBLE FIXED ASSETS
Housing
properties
for
18tting
Non-social
housing
properties
Fixtures
and
fitttngs
Motor
vehicles
Totals
COST
At 1 April 2024
Additions
Disposals
11.025.048
621.161
102,374)
1,213,273
94.326
491.738
15,275
23,994
12,754.053
730,762
102,3741
At 31 March 2025
11,543.835
1,307,599
507,013
23,994
13,382,441
DEPRECIATION
Al 1 April 2024
Charge for year
Eliminated on disposal
601,825
145,617
66,9671
26.299
7,388
339.784
37,176
3,499
5,124
971,407
195.305
66.967)
At 31 March 2025
680,475
33.687
376.960
8.623
1.099.745
NET BOOK VALUE
Al 31 March 2025
10.863,360
1.273,912
130,053
15,371
12,282,696
At 31 March 2024
10 423.223
1 186 974
151.954
11 782.646
14.
FIXED ASSET INVESTMENTS
Cash and
settlements
pending
Listed
investments
Totals
MARKET VALUE
At 1 April 2024
Additions
Disposals
Revaluations
8,405,046
1.028,263
371,913
(350.000)
9.433,309
371,913
(350.000)
378.628
378.628
At 31 March 2025
8 783 674
1050 176
9,833 850
NET BOOK VALUE
Al 31 March 2025
8.783.674
1.050.176
9.833.850
At 31 March 2024
8.405,046
1,028,263
9,433,309
Ther8 were no inv8Stment assets outside the UK.
At 31 March 2025. the investment portfolio included the following investments which represented a material
proportion of the portfolio as a whole., M&G Securities Income Funds £3,495.197 {35.54%1, M&G Securities
Charity Multi Asset Accumulation Funds £4,547,519 {46.25°AI, CCLA Income units £740,958 17.53'h) and fvnds
held on COIF Charities Deposit Account £1,050,176 {10.68%).
Cost or valuation at 31 March 2025 is represented by:
Cash and
setuements
pending
Llsted
investments
Totsls
Valuation in 2025
Cost
378,628
8,405,046
378,628
9,455,222
1,050,176
8,783,674
1050.176
9.833.850
Page 19
COn￿nued...

Tho Llvorsago Trust
Nots$ to the Flnanclal Statements - contlnuod
for the Year Ended 31 March 2025
15.
INVESTMENT PROPERTY
FAIR VALUE
At 1 April 2024
Additions
3.852,901
122,915
At 31 March 2025
3.975.816
NET BOOK VALUE
At 31 March 2025
3 975 816
At 31 March 2024
3.852,901
Fair value at 31 March 2025 is represented by..
Valuation in 2022
Cost
149,204
3 826 612
3.975,816
Th8 investment prop8rt18s were last revaluéd al 31 March 2025 by M8ssrs. Milner & Co., Chart8r8d Sutveyors on
an investment basig.
16.
DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2025
2024
Rents, maintenance contributions and care home fees outstanding
Prepayments and accrued income
47.561
27.771
66.652
26.015
75.332
92.667
17.
CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2025
2024
Paym6nts on account
Trade creditors
Social security and other taxes
Other creditors
Accrued expenses
81.047
200.742
24.357
115,456
27,649
87,288
183.731
19.691
107,167
46,026
449,251
443,903
Page 20
continued...

The Llversago TTUSI
Notss to tho Flnanclal Statomonts - ¢onllnu8d
for tho Yèar Ended 31 March 2025
18.
MOVEMENT IN FUNDS
Nel
movement
in funds
Transfers
behveen
funds
Al
31.3.25
At 1.4.24
Unrestrlcted funds
General Teserves
Extraordinary Repair Fund
Cyclical Maintenance Fund
Propety Development Fund
Asset Replacement Res&rv&
Charitable Fund
Liversage Court- Fee Shortfall Fund
Liversage Court- Equalisation Fund
Queen Victoria Loan Fund
Liversage Court- Depreciation fund
Donation Reserve
16,821,421
2,533,458
502,402
2.092,502
69,256
436,490
22.377
230.000
1.483.472
675,639
31,873
1,058,140
(292.185)
77.550
{18,516)
{13.843)
(571.8301
272,650
21.000
255.180
23,000
17,307.731
2.513.923
600.952
2,329,166
78,413
436,490
22.377
230.000
1,527,885
675,639
31.873
44,413
24.898,890
855,559
25,754,449
Endowment funds
General Endowmenl
250.037
5,968
256,005
TOTAL FUNDS
25.148,927
861 527
26.010.454
Net movement in fvnds, included in the above are as follows:
Incoming
resources
Resource$
expended
Gains and
losses
Movement
in funds
Unrestricted funds
General ￿serveS
Extraordinary Repair Fund
Cyclical Maintenance Fund
Property Development Fund
Asset Replacement Reserve
Queen Victoria Loan Fund
2.929,145
110,066
28,812
41.856
(1,668,671)
{582,008}
(52.9go)
(128.732)
(13,843)
{202,3341
179,757
101.728
68.360
1,058,140
{292.185)
n.550
118,516)
113.8431
44.413
3.109.880
12,446.245)
191,924
855,559
Endowmont funds
General EndoMnent
5,968
5.968
TOTAL FUNDS
3.109.880
2 446.245)
197,892
861,527
Page 21
continued...

The Llversage Trust
Notes lo the Flnanclal Statements - conllnued
for the Year Endod 31 March 2025
18.
MOVEMENT IN FUNDS - contlnued
Compardtfves for movement In funds
Net
movement
in funds
Transfers
be￿88n
funds
At
31.3.24
At 1.4.23
Unrestrlcted funds
General reseNes
Extraordinary Repair Fund
Cyclical Maint6nanc8 Fund
Property Development Fund
Asset Replacement Reserve
Charitable Fund
Liversage Court- Fee Shortfall Fund
Liversage Court- Equalisation Fund
Queen Victoria Loan Fund
Liversage Court- D8preciation fvnd
Donation Reserve
15,125,800
2,659,115
484,714
2.933.589
92,983
436,490
22,377
145.000
1.450,930
675.638
2,352,452
{398,307)
{3,312)
(1.096.267)
{46,727)
{656,830)
272,650
21,000
255.180
23,000
16,821,422
2,533,458
502.402
2.092.502
69.256
436,490
22.377
230,000
1,483.472
675.638
31,873
85,000
32,542
31.873
24.026.636
872.254
24.898,890
Endowment funds
General Endowmenl
245.664
4,373
250.037
TOTAL FUNDS
24,272,300
876,627
25,148,927
Comparatlve net movemènt In funds. Inciud8d In the above are as follows:
Incoming
resources
Resourc8S
expended
Galns and
losses
Movement
in funds
Unrestrfcted funds
Goneral reseTv85
Extraordinary Repair Fund
Cyclical Maintenance Fund
Property Development Fund
Asset Replacement Reserve
Queen Victoria Loan Fund
Donation Reserve
2.763,810
100.282
26,250
38,136
{442,060}
(529.6331
146,065)
(1.155,908)
{46.727)
30,702
31.044
16.503
21.505
2,352,452
{398,3071
13,312)
(1.096.267)
146,727)
32,542
31,873
32.542
31,873
2.960,351
{2.220.3931
132,296
872.254
Endowmont funds
General Endowment
4.373
4,373
TOTAL FUNDS
2,960,351
2.220,393)
136,669
876.627
Transfers between funds
Endowmfrnt funds
The incorne of the Endowment Fund may be used for any purposos that are 'exclusively charitable. and is
therefore dassified as unrestricted.
Unrestrlcted funds
Unrestricted fvnds are available for any purpose appropriale to the Twst's Charitable objects.
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continued...

The Lfversage Trust
Notes to the Flnanclal Slatoments - contlnuod
for tho Yoar Ended 31 March 2025
MOVEMENT IN FUNDS - contlnued
Transfers between funds - contlnued
Unr8strfcted deslgnated funds
Designated reserves are part of unr8strf￿ed reseNes which have been eamatked by the Board for a parucular
purpose. Such designalions may be reversed by future Board decisions. Exp6nditure cannot be directly set
against designated reserves but is taken through the income and exp8nditure a¢¢ount. A transfer is then made
from designated reserves as appropriats.
The Trust designates those reserves set aside for future major repairs on all its housing properties and for
cyclical maintenance fund including Liversage Court ca￿ Home. The amounts set aside are based on a stock
condition survey of the Trust's housing properties and represenls Ihe expenditura that cannot be met from th6
Registered Providerfs future rental income stream. The designated reserve is the amount Ihal the Board
estimates is required for future major repairs.
Property Development fund
This fund was set up to fund the development of residential and commeraal properties.
Asset ReplaGOrnent Resorvo fund
This fijnd was established to maintain th6 assets of the Trusl and Liversage Court Care Home, such as fixtures
and fittings and motor vehicles.
Charltable fund
This fund was established in the face of increasing demands for chafitable relief for beneficiaries.
Llversage Court Fee shortfall fund
This fund was established to m88t the costs of Liversage Court fee$ for qualfying residents assessed to be in
need, hardship or distress who cannot afford to the pay full fee levels charged.
Llversage court Equallsatlon fund
This fvnd was Set up to help offset any future deficits that may occur as a result of 5n¢ome shortralls.
Queen Vlctorla Loan fund
This fund was established to assist with capital prolects of The Liversage Trust.
Llversag• Court Doprnclatlon fund
This fund was establish8d to fund schemes of an extraordinary nature for Liversage Court.
Donatlon$ rosorvo
This fund was set up to hold Ihe legacy donation.
19.
EMPLOYEE BENEFIT OBLIGATIONS
The Trust operates defined contribution pension scheme for its employees. Bolh $¢heme$ are open to all
employees with the Trust contributing 3% of the employees gr055 earnings lo one and 3UA of qualifying eamings
to another. Funds are held in separately administered funds. Total contributions in the year to both scheme5
arnounled to £23.138 {2024- £20,953).
The amount owed at 31 March 2025 vfas £6.52112024 - £6.266).
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continued...

The Llversage Trust
Nolos to tho Flnanclal Statomants - contlnuod
for the Year Endod 31 March 2025
20.
RELATED PARTY DISCLOSURES
There were no related paty transaction$ for the year ended 31 March 2025 nor for the year ended 31 Mar¢h
2024.
Page 24