REGISTERED CHARITY NUMBER: 116A927 RLPORT OF THE TRUSTEES AND UNAUDITED FIIYA AL STATEMENTS ED CEMB FOR MAYN O￿ON's H PITAL CI MAYNARD AND CO￿01Y,s HOSPITAL CIO CONfENfs OF THE FINANCIAL STATEMENrs DED 31ST DECEMBE Page Report of the Trnste i to J Ind¢pendent Examiner's Report St#temen¢ of Fin*ncixl Activitles B414nce Sheet Notes 111 the Flnanel41 S¢4tements Detslled S¢itemeTht of Fiuan¢i#l Aettvltles 15 MAYtYARD AND COTTON'S HOSPITAL CIO REPORT OF THE TRUSTEES OR THE YEAR ENDED3 24 The tnwees present their report with the financial siatements of the charity fLY the y¢ar ¢nd¢d 3151 D¢¢em￿r 2024. Th¢ trustees have adopted th¢ provisK)ns of Accounting and ReportiThg by Chariiies.. Statement of Recommended Pra¢ticc appli¢abl¢ to ¢harities preparing their a￿OUnts in o¢¢ordanc¢ with the FinwKial Rq￿rtIng Standard applicable in th¢ UK ond Republic of Irelat)d {FRS 102) (effectivc l January 20191. OKVECTIVES AND ACTivrriES The puryoses of the charity as set pui in its goveming document is for the relief of financial hardship among people living or working within the area administered by Canterbury City co￿¢11 in the county of K¢nL or who in the opinio of the Tn]st¢es have strong link5 to this area& in pani¢ular, by pnividing Such persons wilh alTn51Jous¢ a¢wmnx)dation at)d fjnancial support through the provision of utilities which they could ￿01 Ot￿[WiSe afford throu¥h laek of mean5. The rnain activitics are the provision of almsknusc accomrnodation and finan¢ial support for thos¢ in need. The Tru5tces havc had regard to the Chwity Commi55tlXL'5 guidanee oth Public Benefjt. ACHIEVEMENTS AND PERFORMANCE On Ill January 2016 a Tr&nsfer Agreement M*s sign¢d transferring the a55ets and liabilities of Maynard and Cotton's Hospital IRCN 210544) to the newly wnslityted Clwitable InCorpo￿ted Organisaiion ICIO), Maynard and Cotton's Ailnsbouses which was ¢nt¢red on the register of ch8tiii¢s on 1st June 2015. Th¢ charity witinues to provide almshouse a¢¢ommodotion for l2 Tesident5 in the ¢ity of Canterbury. The almshous¢$ are spread acros5 two locations wthin the ¢ity and the tnL%tees pay for utilities and Lif¢ Line for all residents. FINANCIAL REVIEW The Finattcial Staiements for the year ended 31 Dertynber 2024 ar¢ atwhed to this AnDual Rel￿rt. The Financial Staiement5 r¢v¢al the Charity's income sour¢es which, are in th¢ main derived from sto¢k exchange investment5, the inv¢51D]ent prO￿tty and th¢ various bequests and endowments which have be¢n made to the Charity in the course of its lifetime. Expenditure reflects the Trustees prineipal activity as per it5 Co1￿11tutiOn of providing mshouse accommodation tts thtsse in ne¢d. Inevitsbly in mecting these objectives administration exp¢ns¢s are incurred but the Tru$te¢s do not consider the level of administration to be exees5ive having regard to the nature of the Charity under th¢ir wntrol. During 2024 total resources by the Trusttes amounted 10 £89,6(￿ against £89.006 resources arisittg. leaving a defjcit of £594 before the reva]uation of inv¢slm¢nt &S5ets. (2023 surplus £565). The chariry ¢xp¢¢ts to have adequate resources available to meet its obligation5 for at l¢a5t thc next twelve months a￿1 ther¢fore the trustees consider li appropriat¢ ¢0 prepare the financial statemetsts on ihe goit)g concern b&sis. Reserves as at 31st Ikc¢mb¢r 2024 were all unrestricted £1,930,871 {2023 £1.89125l) of which £1.710,083 (2023 £1.667.426} can only be realhsed by th¢ disposal of tsngtble fixed a5setS. Resetves are maintained io help finan¢¢ th¢ mainten8￿¢ ¥Trd repair of the almshouses for the ongoing benefit of the residen15. A quinquennial inspection of the buildings is ¢arried out and a prngramme of repairs completed a5 required. The Trustees mait)tsin a block policy of insuranc¢ in r¢spe¢t of the freehold properties under their control, lo ensure th¢se assets are properly insured with a system established for futUTC uplift of insurance Yalues. It Is ¢onfJrnied a rolling programme of building, mechanical and electrical rnaint¢nance is in pl8¢¢ for 411 properties under the TnJ%t¢¢s control and advice ha5 a150 be¢n tsk¢n from the Charitys architects irt this resprft. The financial ststements have be¢n prepared to give a Irue and fair. view and have departed from th¢ Charities (Accounts and Reports) Regulations 2008 only io the ¢xient required to provide a Irue and faLT view.. This departure ha5 involved following ihe A¢wuThting and Rep)rting by C.haTiti¢5." Statement of Recommended Practice applicable to charities preparing their accounts in accord￿te Mith th¢ Financial Reporting Standard appli¢able in the UK and Republic of ITrland IFRS 102) issued in Octt)ber 2019 rather than the Accounting and Reporting by ChaTiti¢s'. Siatement of Recommended Pra¢¢i¢¢ e(fe¢tive from l April 2005 Mthich has since been wiihdraw). MAYNARD AND C(YrroN'S HOSPITAL CIO REPORT OF THE TRUSTEES FOR THE YEAR ENDED 3JST DECEMBER 2024 srRUCfURE, GOVERI¥Af4CE AND MANAGEMENT GoVerNi￿g document The ￿11 name of the Cbarity is Maynard and Crthn's Hospital CIO. It is a150 know￿ as Maynard and Co¢¢on's Ahnshouses. The of gi)v¢rning documcnl is Charitsbl¢ Incorporate Organisation {CIO)- FoundaiioTh model ¢on8titution. The charity is a CIO {C.haritable Incorpordted Organisation). Trustees aTe appointed by resolution of the trustces for 5 y¢ar t¢rn)s. OD appointm¢nt all new Tn￿eeS are handed a Trn$t¢e Handbook by way of induction to the Charity and their responsibilities as a Trustee. The Clerk is able to advise Trustees on any spe¢ifi¢ questions that arise from this literature. Dec5sion￿ of the Trusre¢s tak¢t) at duly cortstiftrted meelings are implernented by th¢ ChaiTp¢fsoD and other officers of the Chariry as appropriate. The Chairperson hgs day to day control over th¢ Almshouses and all officert are bound by de£isions made by her in the besi interests of the Clwiry and furtherdnce of the work of the Chayity.Th¢ Chairpcrsoth other offi¢¢rs are obliged to present reports to Trustee meetirhg5. Urgeni matt¢rs arisin8 Outside Trustee meerings are referred io trusiees for a d¢¢ision thich i5 then duly ratified and minuted atthe next meeting following. REFERENCE AND ADMiiyisfRAI'IVE DETAILS Registered Cbxrity number 1161927 Principal gddres5 39 St MaT8ard'S Street Canterbury Ktnl CTI 2TX Trust Kri5tina Am05 Chairp¢rg)n Andrew Webster Rev'd Brian M¢H¢nry CBE Clive Graham Bowley Jennif￿ Forster L¢sley Thoina5 (re5ign¢d 09.06.2024) Philip Fidler (resi￿¢d 24.04.2024) Ruth SibsoTE Prin