**CHARITABLE INCORPORATED ORGANISATION REGISTERED CHARITY NUMBER: 1157022**
## **WIVENHOE HOUSING TRUST (WHT)**
**FINANCIAL STATEMENTS**
**FOR THE YEAR ENDED**
**31 DECEMBER 2024**
**WIVENHOE HOUSING TRUST (WHT)**
**CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024**
**----- Start of picture text -----**
Page
Report of the Trustees 1 to 4
Independent Examiner's Report 5
Statement of Financial Activities 6
Balance Sheet 7
Notes to the Financial Statements 8 to 17
Detailed Statement of Financial Activities 18
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**WIVENHOE HOUSING TRUST (WHT)**
**REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2024**
The Trustees present their report along with the financial statements of the charity for the year ended 31 December 2024. The trustees have adopted the provisions of the Statement of Recommended Practice (SORP) "Accounting and Reporting by Charities" in preparing the annual report and financial statements of the charity.
The financial statements have been prepared in accordance with the accounting policies set out in notes to the accounts on pages 8, 9 and 10 and comply with the charity's governing document, the Charities Act 2011 and 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 published in October 2019.
## **OBJECTIVES AND ACTIVITIES**
## **Objectives and aims**
The objects of the Charity are:
1. the provision of almshouses for beneficiaries who are resident in the area of benefit defined as the Parish of Wivenhoe including that area previously in the Ancient Parish of Wivenhoe in the following order of priority:
i) unmarried women or widows, with preference given to the widows of seamen and those aged over 60. ii) single men or couples of pensionable age;
2. such charitable purposes for the benefit of the residents as the Trustees decide;
3. relief in need in the area of benefit in accordance with the following:
- i) the Trustees may relieve persons who are in need, hardship or distress by:
- a. making grants of money to them; or
- b. providing or paying for goods, services or facilities for them; or
- c. making grants of money to other persons of bodies who provide goods, services or facilities to those in need.
- ii) in exceptional cases the Trustees may decide to assist someone under this clause (who is otherwise qualified) who is resident outside of, or only temporarily resident in, the area of benefit.
## **Application of Income**
The net income shall be applied first to repair, insure and meet all other outgoings in respect of the Charity's properties and all proper costs of the Charity's administration and management. Thereafter net income shall be applied for the benefit of the almspeople of the Charity.
## **Activities**
The Charity currently provides thirteen almshouse properties and its aim is to utilise these as far as possible to meet the objectives of the Charity.
## **Public benefit**
These activities are considered to be for the public benefit and in running the Charity the Trustees have regard for the Charity Commission guidance on public benefit.
-1-
**WIVENHOE HOUSING TRUST (WHT)**
**REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2024**
## **ACHIEVEMENT AND PERFORMANCE**
## **Charitable activities**
The trustees continue to be concerned for the welfare of beneficiaries and maintain a regular involvement with them to make sure that the properties in their care are of a good standard. This commitment to the maintenance of the properties was demonstrated by the recent installation of new, bigger gutters to the properties in Rebow Road as the trustees had realized that rainfall was becoming increasingly heavy and overflowing the previous gutters. The trustees took the opportunity to select a style of guttering that was more suitable for a property in Wivenhoe's Conservation Area.
Minor works were undertaken during the year in several of the Mary Ann Sanford and Jonathan Feedham almshouses.
In September, a resident at the Jonathan Feedham almshouses passed away. This resident was appointed a beneficiary some 12 years previously. As the resident did not have a close relative, the trustees were heavily involved in dealing with the vacancy caused by this resident's death. The trustees took the opportunity to completely refurbish it prior to new beneficiary being appointed before the end of the year.
## **FINANCIAL REVIEW**
## **Financial position**
The Charity's financial position is as set out in the Balance Sheet on page 6 and is considered satisfactory.
## **Reserves policy**
The Charity's policy on reserves is to maintain sufficient reserves to enable the Charity to continue to achieve its principal objectives.
## **FUTURE PLANS**
In the expectation that the sale of the land behind the Fire Station in Wivenhoe would be completed by year end, with full planning consent gained, resulting in a parcel of land of approximately one third of an acre being given to the Wivenhoe Housing Trust, the trustees engaged a local architect and began work on a scheme to build six new almshouses. With the design of them agreed during 2024, a planning application was submitted in April 2025.
This one third of an acre is likely going to be sold to the Housing Trust for a nominal sum in September / October 2025 under the terms of a S106 agreement. The trustees have been putting funds each year into a Reserve Fund towards the cost of building them. The scheme will require additional monies though which will need to be raised from somewhere. The likely date for the building of some or all of these six new almshouses is Spring 2026.
## **STRUCTURE, GOVERNANCE AND MANAGEMENT**
## **Governing document**
The Charity is governed in accordance with a constitution dated 9 May 2014 as amended on 18 October 2019 and 4 November 2019.
## **Recruitment and appointment of new trustees**
As vacancies for Trustees arise applications are sought from potential candidates known to the Trustees and other suitable local people. Applicants are then considered by the Trustees and appointments made by resolution of the Trustees.
## **Organisational structure**
The Wivenhoe Housing Trust continues with a eleven member board of trustees who give their time on a voluntary basis and a part-time Clerk who works for the charity on a self-employed basis, she handles all of the administrative duties.
-2-
**WIVENHOE HOUSING TRUST (WHT)**
## **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2024**
## **STRUCTURE, GOVERNANCE AND MANAGEMENT**
## **Induction and training of new trustees**
New Trustees are briefed by the Chairman and the existing Trustees on the history and activities of the Charity. They are provided with a copy of the Charity Commission publication "The Essential Trustee" detailing their responsibilities and providing guidance on being a Trustee. New Trustees are provided with a copy of the Charity Scheme and the latest accounts.
## **Related parties**
There are no other charities related to the Wivenhoe Housing Trust (WHT). The Clerk to the Charity is also Clerk to other almshouse charities.
## **Risk management**
The trustees have a duty to identify and review the risks to which the charity is exposed and to ensure appropriate controls are in place to provide reasonable assurance against fraud and error.
## **REFERENCE AND ADMINISTRATIVE DETAILS**
## **Registered Charity number**
1157022
## **Principal address**
16 Colchester Road Wivenhoe Essex CO7 9EU
## **Trustees**
Ms S Brooks-Richardson Ms D Taylor Ms G Sleightholm Cllr K Read (resigned 11/1/24) R Titchener (resigned 30/4/24) C Kelly C Andrews P Hill (Chairman) R Neve R Needham (Vice-Chairman) J Crook (appointed 11/5/24) S Boughton (appointed 11/5/24) D Hutchings (appointed 11/5/24)
## **Independent Examiner**
Melinda Simpson TC Group Accountants Town Wall House Balkerne Hill Colchester Essex CO3 3AD
-3-
**WIVENHOE HOUSING TRUST (WHT)**
## **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2024**
## **REFERENCE AND ADMINISTRATIVE DETAILS Solicitors**
Anthony Collins Solicitors LLP 134, Edmund Street Birmingham B3 2ES
## **Bankers**
Lloyds TSB plc 27 High Street Colchester Essex CO1 1DU
## **Clerk to the Charity**
Mrs Melissa Hill 42 Braiswick Colchester CO4 5AX
Approved by order of the board of trustees on ............................................. and signed on its behalf by:
.................................................................... P Hill - Trustee
-4-
**INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF WIVENHOE HOUSING TRUST (WHT)**
## **Independent examiner's report to the trustees of Wivenhoe Housing Trust (WHT)**
I report to the charity trustees on my examination of the accounts of Wivenhoe Housing Trust (WHT) (the Trust) for the year ended 31 December 2024.
## **Responsibilities and basis of report**
As the charity trustees of the Trust you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('the Act').
I report in respect of my examination of the Trust's accounts carried out under Section 145 of the Act and in carrying out my examination I have followed all applicable Directions given by the Charity Commission under Section 145(5)(b) of the Act.
## **Independent examiner's statement**
I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
1. accounting records were not kept in respect of the Trust as required by Section 130 of the Act; or
2. the accounts do not accord with those records; or
3. the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 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.
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 understanding of the accounts to be reached.
Melinda Simpson Chartered Accountant
TC Group Accountants Town Wall House Balkerne Hill Colchester Essex CO3 3AD
Date: .............................................
-5-
**WIVENHOE HOUSING TRUST (WHT)**
## **STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2024**
|Notes
**INCOME AND ENDOWMENTS**
**FROM**
**Charitable activities**
4
Almshouse activity
Investment income
3
**Total**
**EXPENDITURE ON**
**Charitable activities**
5
Almshouse activity
Relief In need
**Total**
Net gains on investments
**NET INCOME/(EXPENDITURE)**
**Transfers between funds**
14
**Other recognised gains/(losses)**
Gains on revaluation of fixed
assets
**Net movement in funds**
**RECONCILIATION OF FUNDS**
Total funds brought forward
**TOTAL FUNDS CARRIED**
**FORWARD**|Unrestricted
funds
£
**85,980**
**28,030**
**114,010**
**64,279**
**-**
**64,279**
**49,731**
**13,322**
**63,053**
**(2,500)**
**-**
**60,553**
**561,245**
**621,798**|Restricted
fund
£
**-**
**661**
**661**
**870**
**707**
**1,577**
**(916)**
**-**
**(916)**
**2,500**
**-**
**1,584**
**17,633**
**19,217**|Endowment
funds
£
**-**
**4,764**
**4,764**
**-**
**-**
**-**
**4,764**
**4,827**
**9,591**
**-**
**-**
**9,591**
**2,581,910**
**2,591,501**|**2024**
**Total**
**funds**
**£**
**85,980**
**33,455**
**119,435**
**65,149**
**707**
**65,856**
**53,579**
**18,149**
**71,728**
**-**
**-**
**71,728**
**3,160,788**
**3,232,516**|2023
Total
funds
£
84,147
25,532|
|---|---|---|---|---|---|
||||||109,679|
||||||37,695
607|
||||||38,302|
||||||71,377
6,377|
||||||77,754
-
374,298|
||||||452,052
2,708,736|
||||||3,160,788|
## **CONTINUING OPERATIONS**
All income and expenditure has arisen from continuing activities.
The notes form part of these financial statements
-6-
## **WIVENHOE HOUSING TRUST (WHT)**
## **BALANCE SHEET 31 DECEMBER 2024**
|Notes
**FIXED ASSETS**
Tangible assets
10
Investments
11
**CURRENT ASSETS**
Debtors
12
Cash at bank
**CREDITORS**
Amounts falling due within one
year
13
**NET CURRENT ASSETS**
**TOTAL ASSETS LESS CURRENT**
**LIABILITIES**
**NET ASSETS**
**FUNDS**
14
Unrestricted funds
Restricted funds
Endowment funds
**TOTAL FUNDS**|Unrestricted
funds
£
**-**
**399,239**
**399,239**
**4,565**
**242,165**
**246,730**
**(24,171)**
**222,559**
**621,798**
**621,798**|Restricted
fund
£
**-**
**-**
**-**
**24**
**19,193**
**19,217**
**-**
**19,217**
**19,217**
**19,217**|Endowment
funds
£
**2,454,884**
**136,617**
**2,591,501**
**-**
**-**
**-**
**-**
**-**
**2,591,501**
**2,591,501**|**2024**
**Total**
**funds**
**£**
**2,454,884**
**535,856**
**2,990,740**
**4,589**
**261,358**
**265,947**
**(24,171)**
**241,776**
**3,232,516**
**3,232,516**
**621,798**
**19,217**
**2,591,501**
**3,232,516**|2023
Total
funds
£
2,454,884
494,190|
|---|---|---|---|---|---|
||||||2,949,074
53,620
166,809|
||||||220,429
(8,715)|
||||||211,714|
||||||3,160,788|
||||||3,160,788|
||||||561,245
17,633
2,581,910|
||||||3,160,788|
The financial statements were approved by the Board of Trustees and authorised for issue on ............................................. and were signed on its behalf by:
............................................. P Hill - Trustee
............................................. R Needham - Trustee
The notes form part of these financial statements
-7-
**WIVENHOE HOUSING TRUST (WHT) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024**
## **1. TRANSFER OF ENGAGEMENTS**
The Wivenhoe Housing Trust was formed to administer the charities previously known as the Jonathan Feedham Charity and the Mary Ann Sanford's Almshouse Charity. The transfer took effect on 20 December 2001 and the reserves, assets and liabilities of those charities have been adopted at the values shown in their accounts on 19 December 2001.
On 8 February 2015 the activities, assets and liabilities of The Wivenhoe Housing Trust (Charity Registration Number 1090578) were transferred to this Charity.
## **2. ACCOUNTING POLICIES**
## **Basis of preparing the financial statements**
The financial statements of the charity, 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 Charities Act 2011. 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.
The financial statements are presented in sterling which is the functional currency of the charity and rounded to the nearest £.
## **Fund accounting**
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees. Designated funds are unrestricted funds of the charity which the trustees have decided at their discretion to set aside to use for a specific purpose. 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. Permanent endowment funds are non-expendable funds which are normally held indefinitely. Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.
## **Going concern**
The accounts are prepared on a going concern basis as there are no material uncertainties about the Charity's ability to continue.
## **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.
Income from government and other grants, whether 'capital' grants or 'revenue' grants, is recognised when the Charity has entitlement to the funds, any performance conditions attached to the grants have been met, it is probable that the income will be received and the amount can be measured reliably and is not deferred.
For legacies, entitlement is taken as the earlier of the date on which either: the Charity is aware that probate has been granted, the estate has been finalised and notification has been made by the executor(s) to the Charity that a distribution will be made, or when a distribution is received from the estate.
Donations and other voluntary income are reflected in the accounts for the period in which they are received. Donations in kind are recognised by the Charity when received except in the case of services provided free or undervalue by voluntary staff or others which are not reflected in the accounts.
-8-
**WIVENHOE HOUSING TRUST (WHT) NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2024**
## **2. ACCOUNTING POLICIES - continued**
## **Interest received**
Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the Charity; this is normally upon notification of the interest paid or payable by the Bank.
## **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.
## **Repairs and maintenance of properties**
The charges in the Statement of Financial Activities in respect of Cyclical Maintenance and Extraordinary Repairs reflect the Trustees' constant concern to keep the properties in good condition, and are in accordance with the Almshouse Associations' recommendation that Almshouse Charities should set aside each year specific sums in this respect. Transfers are made from the General Fund each year to the Extraordinary Repair Fund to cover extraordinary repairs as they arise and to the Cyclical Maintenance Fund to cover repairs which arise on a cyclical basis.
## **Support costs**
The Charity's governance costs are allocated entirely to the Almshouse Costs since support costs relating to other activities are considered immaterial.
Grants offered subject to conditions which have not been met at the year end date are noted as a commitment but not accrued as expenditure.
## **Tangible fixed assets**
## **Housing Properties**
The housing properties are included in the accounts at their insurance reinstatement value. Additions after each revaluation are included at cost until a further revaluation.
The housing properties are not depreciated as revaluations are performed with sufficient regularity to ensure that the carrying amounts are not materially misstated.
The cost of refurbishment and improvements to the existing property are written off to General Fund as incurred. Any major improvements or extensions to the property are capitalised.
## **Investments**
Investments are shown on the Balance Sheet at their market value. Changes in market values during an accounting period are reflected in the accounts as unrealised gains or losses. Upon disposal of an investment the difference between original cost and disposal proceeds is reflected in the accounts as a realised gain or loss and an adjustment is made to unrealised gains or losses to reverse unrealised movements in value in earlier years.
-9-
**WIVENHOE HOUSING TRUST (WHT) NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2024**
## **2. ACCOUNTING POLICIES - continued**
## **Debtors**
Contributions and other debtors are recognised at the settlement amount due. Prepayments are valued at the amount prepaid net of any trade discounts due.
## **Cash at bank**
Cash at bank and cash in hand includes cash and short term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.
## **Creditors and provisions**
Creditors and provisions are recognised where the Charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due.
## **Taxation**
The charity is exempt from tax on its charitable activities.
|**3.**
**INVESTMENT INCOME**
Dividends receivable
COIF deposit account interest|**2024**
**£**
**23,412**
**10,043**
**33,455**|2023
£
19,823
5,709|
|---|---|---|
|||25,532|
For year ending 31 December 2024 accumulation share dividends have been accounted for as investment additions and investment income. The comparative amounts for the year ended 31 December 2023 have been reclassified to reflect the accumulation share dividends. Dividend income has therefore increased from £6,825 to £19,823 and the net gains on investments reducing from £19,375 to £6,377, reflecting the total accumulation share dividends received of £12,998.
## **4. INCOME FROM CHARITABLE ACTIVITIES**
|Almshouse activity
Contributions receivable
Losses from vacancies|**2024**
**£**
**87,015**
**(1,035)**
**85,980**|2023
£
84,147
-|
|---|---|---|
|||84,147|
-10-
**WIVENHOE HOUSING TRUST (WHT)**
**NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2024**
## **5. CHARITABLE ACTIVITIES COSTS**
|||Direct|Grant|Grant|Support||
|---|---|---|---|---|---|---|
|||Costs (see|funding|of|costs (see||
|||note 6)|activities||note 7)|Totals|
|||£|£||£|£|
||Almshouse activity|**55,608**||**-**|**9,541**|**65,149**|
||Relief In Need|**-**|**707**||**-**|**707**|
|||**55,608**|**707**||**9,541**|**65,856**|
|**6.**|**DIRECT COSTS OF CHARITABLE ACTIVITIES**||||||
||||||**2024**|2023|
||||||**£**|£|
||Vacant property costs||||**130**|-|
||Water charges||||**2,861**|2,629|
||Insurance||||**1,706**|1,602|
||Light and heat||||**12,271**|11,815|
||Repairs and maintenance||||**10,357**|7,536|
||Cyclical repairs||||**750**|-|
||Extraordinary repairs||||**23,230**|-|
||Gardening||||**3,320**|2,840|
||Careline||||**870**|843|
||Sundry expenses||||**113**|343|
||||||**55,608**|27,608|
|**7.**|**SUPPORT COSTS**||||||
||||||Governance||
||||Management||costs|Totals|
||||£||£|£|
||Almshouse activity||**6,907**||**2,634**|**9,541**|
||Support costs, included in the above, are as|follows:|||||
||||||**2024**|2023|
||||||Almshouse|Almshouse|
||||||activity|activity|
||||||**£**|£|
||Trustees' remuneration etc||||**-**|134|
||Clerk fees||||**6,500**|6,500|
||Subscriptions||||**407**|303|
||Independent examination fees||||**270**|246|
||Accountancy fees||||**2,364**|2,904|
||||||**9,541**|10,087|
-11-
**WIVENHOE HOUSING TRUST (WHT)**
**NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2024**
## **8. TRUSTEES' REMUNERATION AND BENEFITS**
There were no trustees' remuneration or other benefits for the year ended 31 December 2024 nor for the year ended 31 December 2023.
## **Trustees' expenses**
There were no trustees' expenses paid for the year ended 31 December 2024. Peter Hill was reimbursed travel and subsistence expenses of £134 during the year ended 31 December 2023. There were no other trustees' expenses paid for the year ended 31 December 2023.
## **9. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES**
|**INCOME AND ENDOWMENTS FROM**
**Charitable activities**
Almshouse activity
Investment income
**Total**
**EXPENDITURE ON**
**Charitable activities**
Almshouse activity
Relief In Need
**Total**
Net gains on investments
**NET INCOME/(EXPENDITURE)**
**Transfers between funds**
**Other recognised gains/(losses)**
Gains on revaluation of fixed assets
**Net movement in funds**
**RECONCILIATION OF FUNDS**
Total funds brought forward
**TOTAL FUNDS CARRIED FORWARD**|Unrestricted
funds
£
84,147
20,711
104,858
36,852
-
36,852
68,006
4,082
72,088
(2,500)
-
69,588
491,657
561,245|Restricted
fund
£
-
600
600
843
607
1,450
(850)
-
(850)
2,500
-
1,650
15,983
17,633|Endowment
funds
£
-
4,221
4,221
-
-
-
4,221
2,295
6,516
-
374,298
380,814
2,201,096
2,581,910|Total
funds
£
84,147
25,532|
|---|---|---|---|---|
|||||109,679|
|||||37,695
607|
|||||38,302|
|||||71,377
6,377|
|||||77,754
-
374,298|
|||||452,052
2,708,736|
|||||3,160,788|
-12-
**WIVENHOE HOUSING TRUST (WHT)**
**NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2024**
## **10. TANGIBLE FIXED ASSETS**
|**COST OR VALUATION**
At 1 January 2024 and 31 December 2024
**NET BOOK VALUE**
At 31 December 2024
At 31 December 2023|Housing
properties
£
**2,454,884**
**2,454,884**
2,454,884|
|---|---|
Housing properties represents thirteen almshouses being 1 to 7 Feedham Court, Wivenhoe, Essex and 1 to 6 Rebow Road, Wivenhoe, Essex.
The housing properties were revalued to their insurance reinstatement value of £2,080,586 at 30 June 2022, which the trustees considered to be the value, with additions of £45,090 incurred since that date included at cost.
Cost or valuation at 31 December 2024 is represented by:
|Revaluation surplus in 2017
Revaluation surplus in 2022
Revaluation surplus in 2023
Cost|**Housing**
**properties**
**£**
**385,360**
**306,496**
**374,298**
**1,388,730**
**2,454,884**|
|---|---|
## **11. FIXED ASSET INVESTMENTS**
|**FIXED ASSET INVESTMENTS**||
|---|---|
||Listed|
||investments|
||£|
|**MARKET VALUE**||
|At 1 January 2024|**494,190**|
|Additions|**8,320**|
|Accumulated income|**15,197**|
|Revaluations|**18,149**|
|At 31 December 2024|**535,856**|
|**NET BOOK VALUE**||
|At 31 December 2024|**535,856**|
|At 31 December 2023|494,190|
There were no investment assets outside the UK.
-13-
**WIVENHOE HOUSING TRUST (WHT)**
**NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2024**
## **11. FIXED ASSET INVESTMENTS - continued**
Cost or valuation at 31 December 2024 is represented by:
|Accumulated revaluation surpluses
Cost
**12.**
**DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**
Contributions in arrears
Other debtors
Prepayments and accrued income
**13.**
**CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**
Contributions received in advance
Trade creditors
Accruals and deferred income|**Listed**
**investments**
**£**
**243,490**
**292,366**
**535,856**
**2024**
2023
**£**
£
**1,677**
1,820
**-**
50,000
**2,912**
1,800
**4,589**
53,620
**2024**
2023
**£**
£
**2,501**
2,735
**48**
1,651
**21,622**
4,329
**24,171**
8,715|
|---|---|
-14-
**WIVENHOE HOUSING TRUST (WHT)**
**NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2024**
## **14. MOVEMENT IN FUNDS**
|**Unrestricted funds**
General Fund
Cyclical Maintenance Fund
Extraordinary Repair Fund
Building Reserve Fund
**Restricted funds**
Relief In Need Fund
**Endowment funds**
Permanent Endowment Fund
Property Revaluation Reserve
Wivenhoe Charities Fund
**TOTAL FUNDS**|At 1.1.24
£
**60,608**
**54,284**
**124,322**
**322,031**
**561,245**
**17,633**
**1,509,930**
**1,066,154**
**5,826**
**2,581,910**
**3,160,788**|Net
movement
in funds
£
**34,116**
**5,418**
**10,770**
**12,749**
**63,053**
**(916)**
**9,439**
**-**
**152**
**9,591**
**71,728**|Transfers
between
funds
£
**(44,600)**
**13,780**
**8,320**
**20,000**
**(2,500)**
**2,500**
**-**
**-**
**-**
**-**
**-**|At
31.12.24
£
**50,124**
**73,482**
**143,412**
**354,780**
**621,798**
**19,217**
**1,519,369**
**1,066,154**
**5,978**
**2,591,501**
**3,232,516**|
|---|---|---|---|---|
Net movement in funds, included in the above are as follows:
|**Unrestricted funds**
General Fund
Cyclical Maintenance Fund
Extraordinary Repair Fund
Building Reserve Fund
**Restricted funds**
Relief In Need Fund
**Endowment funds**
Permanent Endowment Fund
Wivenhoe Charities Fund
**TOTAL FUNDS**|Incoming
resources
£
**97,562**
**5,381**
**5,385**
**5,682**
**114,010**
**661**
**4,764**
**-**
**4,764**
**119,435**|Resources
expended
£
**(63,529)**
**(750)**
**-**
**-**
**(64,279)**
**(1,577)**
**-**
**-**
**-**
**(65,856)**|Gains and
Movement
losses
in funds
£
£
**83**
**34,116**
**787**
**5,418**
**5,385**
**10,770**
**7,067**
**12,749**
**13,322**
**63,053**
**-**
**(916)**
**4,675**
**9,439**
**152**
**152**
**4,827**
**9,591**
**18,149**
**71,728**|
|---|---|---|---|
-15-
**WIVENHOE HOUSING TRUST (WHT)**
**NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2024**
## **14. MOVEMENT IN FUNDS - continued**
## **Comparatives for movement in funds**
|**Unrestricted funds**
General Fund
Cyclical Maintenance Fund
Extraordinary Repair Fund
Building Reserve Fund
**Restricted funds**
Relief In Need Fund
**Endowment funds**
Permanent Endowment Fund
Property Revaluation Reserve
Wivenhoe Charities Fund
**TOTAL FUNDS**|At 1.1.23
£
76,187
38,671
109,338
267,461
491,657
15,983
1,503,274
691,856
5,966
2,201,096
2,708,736|Net
movement
in funds
£
57,123
3,081
7,314
4,570
72,088
(850)
6,656
374,298
(140)
380,814
452,052|Transfers
between
funds
£
(72,702)
12,532
7,670
50,000
(2,500)
2,500
-
-
-
-
-|At
31.12.23
£
60,608
54,284
124,322
322,031
561,245
17,633
1,509,930
1,066,154
5,826
2,581,910
3,160,788|
|---|---|---|---|---|
Comparative net movement in funds, included in the above are as follows:
|**Unrestricted funds**
General Fund
Cyclical Maintenance Fund
Extraordinary Repair Fund
Building Reserve Fund
**Restricted funds**
Relief In Need Fund
**Endowment funds**
Permanent Endowment Fund
Property Revaluation Reserve
Wivenhoe Charities Fund
**TOTAL FUNDS**|Incoming
resources
£
93,811
2,475
4,304
4,268
104,858
600
4,221
-
-
4,221
109,679|Resources
expended
£
(36,852)
-
-
-
(36,852)
(1,450)
-
-
-
-
(38,302)|Gains and
Movement
losses
in funds
£
£
164
57,123
606
3,081
3,010
7,314
302
4,570
4,082
72,088
-
(850)
2,435
6,656
374,298
374,298
(140)
(140)
376,593
380,814
380,675
452,052|
|---|---|---|---|
-16-
**WIVENHOE HOUSING TRUST (WHT)**
**NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2024**
## **14. MOVEMENT IN FUNDS - continued**
## **Funds and Reserves**
## **Permanent Endowment Fund**
The Fund partly represents the Charity's land and buildings with the balance being specifically invested. Income from these investments is available for the general purposes of the Charity.
## **Housing Properties Revaluation Reserve**
The Housing Property Revaluation Reserve is permanent endowment of the Charity and is represented by the value of housing properties revaluation gains.
## **Wivenhoe Charities Fund**
The Fund is expendable permanent endowment of the Charity and represents funds received on the winding up of the Wivenhoe Charities. The Fund is specifically invested. Income from these investments is used for the Relief in Need services provided by the Charity.
## **Relief in Need Fund**
The Fund represents voluntary income received by the Charity to provide its Relief in Need services. The Fund is restricted to these services and any income from investment of the Fund is similarly restricted in its use.
## **Cyclical Maintenance Fund**
A transfer is made each year from the General Fund to the Cyclical Maintenance Fund to cover cyclical repairs as they arise. The Fund is specifically invested and income received is added to the Fund.
## **Extraordinary Repair Fund**
A transfer is made each year from the General Fund to the Extraordinary Repair Fund to cover extraordinary repairs as they arise. The Fund is specifically invested and income received is added to the Fund.
## **Building Reserve Fund**
The fund is to cover future development of the property and transfers will be made from the General Fund at the Trustees discretion.
## **General Fund**
The fund represents part of the accumulated surpluses of the Charity and is available for the general purposes of the Charity.
## **15. RELATED PARTY DISCLOSURES**
The clerk to the charity is the daughter-in-law of one of the charity trustees.
During the year ended 31 December 2024 the clerk was paid fees of £6,500 for their administrative services.
There were no other related party transactions during the year ended 31 December 2024.
-17-
**WIVENHOE HOUSING TRUST (WHT)**
## **DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2024**
|**INCOME AND ENDOWMENTS**
**Investment income**
Dividends receivable
COIF deposit account interest
**Charitable activities**
Contributions receivable
Losses from vacancies
**Total incoming resources**
**EXPENDITURE**
**Charitable activities**
Vacant property costs
Water charges
Insurance
Light and heat
Repairs and maintenance
Cyclical repairs
Extraordinary repairs
Gardening
Careline
Sundry expenses
Relief in Need donations
**Support costs**
**Management**
Trustees' expenses
Clerk fees
Subscriptions
**Governance costs**
Independent examination fees
Accountancy fees
Total resources expended
**Net income**|2024
£
**23,412**
**10,043**
**33,455**
**87,015**
**(1,035)**
**85,980**
**119,435**
**130**
**2,861**
**1,706**
**12,271**
**10,357**
**750**
**23,230**
**3,320**
**870**
**113**
**707**
**56,315**
**-**
**6,500**
**407**
**6,907**
**270**
**2,364**
**2,634**
**65,856**
**53,579**|2023
£
19,823
5,709|
|---|---|---|
|||25,532
84,147
-|
|||84,147|
|||109,679
-
2,629
1,602
11,815
7,536
-
-
2,840
843
343
607|
|||28,215
134
6,500
303|
|||6,937
246
2,904|
|||3,150|
|||38,302|
|||71,377|
This page does not form part of the statutory financial statements
-18-