Charity regSstratSon number 1166290 Company registration number 09818693 IEngland and Wale81 OAK TREE HOMES TRUST LTD. ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2024
OAK TREE HOMES TRUST LTD. LEGAL AND ADMINISTRATIVE INFORMATION Trust•0s S H Jemp50n H Jempson B T Jempsoll S•cr•tary S H Jempson Charlty numb•r 1166290 Cornpany number 09818693 Principal addross Jempson's Ltd Main Street Peasmarsh East Sussex TN31 6YD Registered office Jempson's Ltd Main Street Peasmarsh East Sussex TN31 6YD Independent examSn•r Holland Harper LLP 26 High Street Battle East Sussex TN33 OEA
OAK TREE HOMES TRUST LTD. CONTENTS Pag• Trustees, report Statement of Trustees. responsibilities Independent examinerfs report St8tem8nt of finanaal 8ctrMtiès Balancè she61 Notes to the finanoal statements 9-16
OAK TREE HOMES TRUST LTD. TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT) FOR THE YEAR ENDED 30 JUNE 2024 The Trustees pwent their annual report and financial $tat8rn8nts for the y88r 8nd8d 30 June 2024. The financial statements have been prepared in accordance with the accounting polia8S 58t out In note 1 to the financial statements and cornply wth the Charity's Memorandum and Artides ol Associats'on, the Companies Act 2006 and "Accounting and Reporting by Charities.. Stalernent of Recommended Practi applicabl8 to tharities preparing their accounts In accordan with the Finanual Reportsng St8ndard applicable in the UK and Republic of Ireland IFRS 1021" (effective 1 January 20191. ObjecVe6 and a¢vItIe The objective of the charity is to prowde independent living accommodalon and as515ted living for eldedy people in the South East of England. The owners ol the flats will be Independent but will be offered seMc8S such as domestic help if required. The land for the Strawberry Hill D8v8loprnent was purchased in 2013. In October 2015 fvll planning permission was granted for a development of ten apartments and a commun818rèa on sitè. Thè sitè Was Compl& in June 2018. The apartments have been designed 10 SUPPOrt an independent lifestyle. but come wth the reassurance that care and 5UPPOrt seTVitsS are available If or when required. A private parking Spa is allocated for each apartment and the secure gate entrance provides peace of mind. The charity's trustees have considered the guidance regarding public benefit when considèring and planning their c)iethves and acknwties for the year. The apartments ar8 sold at 20D/4 less than market value. It is the desire of the Trustees and prospective occupants that a Christian ethos is maintained at the developrnent. The trustee5 have pr$-omptitsn nghts on all apartments sold. Public benefit Fundr8ising and rèsidential carè 8ctiwb.ès to promde for the eklerty and disabled. Tha truste&s confim that thèy hava complied with the qUirementS of section 17 of the Charities Act 2011 to have due regard to the public benefit guidan pub115hed by the Chanty Commission lor England and Wales. Achlevements and pèrfonnanco Signiffcant activilies and achievements against objectives We held our Autumn Fay on Saturday 4th November where we served coflee and cake. horne-made presèms and cakes. fresh bread. seasonal plants, greeting GgTds and more. a150 served light lunches in the OTHT café. A presentation was held at 11.30 a.m. with an update on the work5 of the Charity and th8 prospect of a second development. The Fayre raised £5,088.82 which will be used for the Onoing work of the chanty A Christmas singing evening was hekj on Saturday 9th December in the communal loung8 which was followed by refreshments and mince pies. On 15th June we hosted a Cream Tèa to calebfate the 6th anniversary of the opening of Strawberry Hill House. Th15 was well attended and we were grateful for the 5UPPOrt we reived. Financial review Revi8w of fin8nci81position The tharity had ex$$ income of £36,616 Ideficit of £78.384 after taking into account the deficit on the investrnent property revaluatyonl during the year. This was helped by a legacy by a fomier resident of Strawberry Hill. Going concem The trustees have considered the financial position of the Charity for current and future periods. The company has now paid off the drawdown from Lloyds Bank and there Is one apartment for sale now. The tharity Is able to mget liabilities as they fall due for a period of not less than 12 months after the balan sheet date and the trustees therefor8 consider it appropriate to pr8par8 the financial statements on a going concem basis.
OAK TREE HOMES TRUST LTD. TRUSTEES. REPORT (INCLUDING DIRECTORS, REPORT) (CONTINUED FOR THE YEAR ENDED 30 JUNE 2024 ReseNes policy There is no reserves policy at present. pri¢1paI fvnding sOUfCeS The charity's main SOU of knnds are donabons from Individuals and CoMpans. Plans for future pertods As we look to the future we have a number of prospective buyers and le5see5 on our waitin9 list. We have now Identified a site In East Sussex. The Trustees are currendy in discussion wrth the Planning Authonty to see how best to develop It and hope to port shortly to all subscribers. We look to the Lord for his continued help. Structure. governance and management The charty Is bound by Its Memorandum and Arts"des of Association. and constitutes 8 lirnited company, limited by guarantee. as defined by the Cornpanies Act 2006. Each of the trustees 15 liable to contribute an arnount not excee¢Jing £1 towards the assets ol the charity in the event of liquidation. The Trustees, who a also the directors for the purpose of comp8ny 18w, 8nd who sgrvèd dunng the year and up to the date of signature of the financial 5tatement5 were. S H Jempson H Jempson B T Jempson Recruitment and appointment of trustees There is no current requirernent to recruivappoint fiJrther trustees. The 3 Trustee5, who are atso the key management personnel, are all involved in the operation of thè Tnjst and thera Is also a Management Company associated with the Trust. None of the Trustees has any beneficial interest In the company nor received any rernuneration during the pèriod. Re18tionship wilh re181edp8rtigs Relationships with related partie8 Stephen Jern0n Trustee Helen Jempson Trustee Brian Jemp¥on Trustee J•mp$ons Holdlng• Ltd and assoclatsd eompani Cornmon own8rship Oak Tree Homes Management Co. Ltd. Management company
OAK TREE HOMES TRUST LTD. TRUSTEES, REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED) FOR THE YEAR ENDED 30 JUNE 2024 The Tru5tees' report was approved by the Board of Trusteès. mpson Trusta8 20 March 2025
OAK TREE HOMES TRUST LTD. STATEMENT OF TRUSTEES, RESPONSIBILITIES FOR THE YEAR ENDED 30 JUNE 2024 The Trustee5. who are also the directors of Oak Tree Horn8s Trust Ltd. for the purpose of company law, are responsible for preparing the Trustees, Report and the fin8ncial statements in accordan with applicable law and United Kingdom Accounting Stsndards (United Kingdom Generally Accepted Accounting Praeticel. Cornp8ny Law requirès thè Trustèes to ppare financial statement5 for each fin8ncial yèar which give a true and fair view of the state ol affairs ol the Charity and of the incoming SOUrceS and application of resources. indudiry the income and expenditure. of the ch8nt8bla company for that year. In prepanng these financial statements. the Trustees are r8quired to". - stl8ct surtablè accounting policies and then apply them consistentty, - observe the methods and principles in the Charities SORP", - make judgements and estimates that are reasonable and prudent, stste whether applic2ble UK Accounting Stsndards have been followed, subject to any material departures disdosed and explained in the fi'nanrjal ststements, and prepare the fin8n81 5tatwnents on the going conrn basis unless it is inappropriate to presume that the Chanty 11 continue in operation. The Trustees are responsible for keeping adequate accounting records that disclose with reasonable accuracy at any tsme the financial position of the Charity and enab them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets ol the Charity and hence for tsking reasonable steps for the prevention and detection of fraud and other irregulariiies.
OAK TREE HOMES TRUST LTD. INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF OAK TREE HOMES TRUST LTD. I report to the Trustees on my examination of the financial st8twnents of Oak Tree Hom88 Trust Ltd. (the Charity) for the year ended 30 June 2024. Re¥pon¥ibilities and basis of report As the Trustees of the Chanty land also its director5 lor the purposes of company lawl you are responSie for the preparation of thè finanaal statements In accordance with the requirements of the Companies Act 20061th$ 2006 A¢tl Having Satisfied myself that the finanual Statements of the Ch8rty are not requi to be audite(l under Part 16 of the 2006 Act anLI are eligible for independent exarninats'on, I report in respect of my 8xamination of the Charity's fillancial 5tatement5 camed out under section 145 of the Chanties Act 2011 (the 2011 Act). In carrying out rny examination I have followed all the applicable Directions given by th8 Charity Cornmission under section 14515llbl of the 2011 Aei. Indèpèndent •xamlnels statement I have completed my examination. I confim that no m8tt8r5 hav8 come to my attention in connection wrth the examination giving me cause lo believe that in any material respect accounting records were not kept in respect of the Charity a5 required by section 386 of the 20(b Act,. or the financ4al statements do not accord with those records, or the finanual statements do not comply wth the accountsng requirernents of 5ethon 396 01 the 2006 Act other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent exarninatson, or the financial staternents have not been prepared in accordance wth the method5 and prinaple5 of the siatemeni of Recommended Pra1 for accounting and reporting by charities applicab18 to chanties prepanng their accounts In accordan wrth the Financi81 Reporting Stsndard applicable in the UK and Republic of Ireland IFRS 1021. have no concern$ ?nd have come across no <)thèr matters in connects'on wth the examination to which attentyon should be drawn in this report in order to enable a proper understsnding of the finanryal statements to be reached. Roy M Holland FCA Independent Examlnor Holland Harper LLP 26 High Street B8tU8 East Sussex TN33 OEA Dated.. 20 March 2025
OAK TREE HOMES TRUST LTD. STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 30 JUNE 2024 Unrwdtrleted Unrestricted funds funds 2024 2023 Notes Income from.. Donations and legaues Other trading activib'es Investments 22.616 22.671 10.125 48,162 23.811 8.837 Totsl income 55.412 80.810 Expèndltur• on: Raising funds Charitsble actIVe5 12,360 6,436 6.763 8.870 Totsl expenditure 18,796 15.633 Net gainslllossesl on Investments 11 1115,0001 2,500 Not InComleXpend1lurel and movement In fund8 178,3841 67,677 Reeonclllatlon of funds.. Fund balances at 1 July 2023 1,580,863 1.513,186 Fund balan¢96 4130 Jung 2024 1,502,479 1.580,863 The statement ol financial actiwts'es indudes all gains and losse5 recognised in the year. All incorne and expenditLire derive from continuing actitieS.
OAK TREE HOMES TRUST LTD. BALANCE SHEET AS AT 30 JUNE 2024 2024 2023 Notes Flxgd a8set• Tangible asset5 Inve5trent property 13 14 14,971 1,026,002 17.D76 1.141.002 1,040,973 1,158,078 Currènt a88ets Stocks Debtors Cash at bank and in hand 16 16 267.395 16.378 181.953 267.395 23.378 137,692 465.726 428,465 ¢dItorS. amounts falllng duo vlthln one year 17 14.2201 14,7921 N•t eurr•nt as8•ts 461,506 423.673 Totsl a$$ets 1¢$$ ¢urr•nt118bllltl•i 1,502,479 1,581.751 Cr•dltor8: amounts falllng du• aft•r more than one yaar 18881 Net assets ex¢luding pension liability 1,502,479 1,580.863 Net assets 1,502,479 1.580.863 The funds of the Chorlty un$ted ndS 1,502.479 1.580.863 1.502.479 1,580,863 The company 15 ented to the exemptson from the audit requirernent contsined in section 477 of the Comp8nigsAct 2006, for the year ended 30 June 2024. The directors acknowledge their respon51bilities for complying wth the requirements of the Companie5 Act 20rx with respect to accounbng COrdS and the preparation of financial stalements. The members have not required the company to obtain an audit of its financial statements for the yèar tn quests.on in accordarn with sethon 476. These financial staternent5 have been prepared in accordan wrth the prtsvisions applicable to cnmpanies subject to the small companies regime.
OAK TREE HOMES TRUST LTD. BALANCE SHEET (CONTINUED) ASAT30 JUNE 2024 Th& finanaal statements were approved by the Trustees on 20 March 2025 P50n Company registration number 09818693 (England and Wale51
OAK TREE HOMES TRUST LTD. NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2024 Ac¢ountlng pollclo8 Charlty Inforniatlon Oak Tree Homes Trust Ltd. is a private wmpany limited by guarantee incorporated in England and Wales. The registered Offi 13 Jemp50n's Ltd. Main Stet, Peasrnarsh, E85t Su$5ex, TN31 6YD. 1.1 Reporting period These financial statements cover the year to 30th June 2024 and the comparative figures cover the year to 30th June 2023. 1.2 A¢¢ountlng convention The financial ststement5 hava b8•n ppa in accordance with the Charty's Memorandum and Articles of Associatson, the Companies Act 2006, FRS 102 'The Financial Reporting Standard applic8ble in the UK and Republic of Ireland" I"FRS 102.1 and the Charities SORP "Accounting and Reporting by Charities. Statement of Recommended Practsce applicable to chsnties preparing their accounts In accordano with the Financial Reporting Standard applicable in th& UK and Republic of Ireland IFRS 1021" (effective 1 January 20191. The Charity Is a Public Benefit Entity as defined by FRS 102. The Charity h8S t8kgn advant8yè of tha provisions in the SORP for chantie5 not to prepa a Stsiement of Cash Flows. The financial ststements are prepared in sterling, which is the fvnctional currency of the Charty. Monetary amounts In these financial ststernents are rounded to thg near8St £. The financial statements have been prepared under the histoncal cost convention (modified to indude Investment properties at fair value). The pnnpa1 accounting policies adopted a set out below. 1.3 Going concern At the ts'me of approving the fin8nrJal statements, the Trustees have a rea30n8ble expectation that the Charity has adequate reSoue$ to continue in op8rational existen lor the loresee8ble future. Thu5 the Trustees contsnue lo adopt the going COnM basis of accountillg in prepanng the financial ststem&nts. 1A Charftsbl? fund8 Unrestricted funds are 8V8i18ble for usè at the discretion of the Trustees in lurtherancè of their charitable 04ethves. Restricted funds are subj.ect to specific condition5 by donors or grantors as to how they may be used. The purp0585 and uses of the Strn¢ted funds are set out in the notes to the financial staternents. Endowrnent funds ar8 subjèct to specific conditions by donors that the capital must be maintained by the Charity. There were no restncted or endowment funds during the perioj, only ullrestricted funds. 1.S Income Income is recognised when the Charity is galty entstled to it after any perf0rn)an cond'0n8 have been rnet. thè amounts can be measured reliably. and it is prob8ble that Income will be received. Cash don8bOMS ara recognised on ceIpt. Other donations are iecognissd On the Charity has been notified of the donation. unless perforrnance conditions wuire deferral of the amount Income tax recoverable in relatiOTI to donations reiVed under GiftAid or deeds of covenant is COgnised at the time of the donation.
OAK TREE HOMES TRUST LTD. NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 JUNE 2024 A¢¢ountlng poll¢le8 Icontlnuedl Legacies are recognised on receipt or otherwisé if the Charity has been notified ol an impending distribution, the amount is known, and reIpt is expected. 11 the arnount is not known, the legacy is treated as a conty'Dgenl asset. Other inrne from lundra151ng events, Income from sale of rtems made or donated by volunteèrs is recognized either in the period in which the 8vent takes pla or when items are soky. SeNice costs from the occupants is recognised In Oak Tree HL¥lles Trust Management Ltd's finanri81 5taternents, along wrth assou8tèd running costs ol the buikling. Income from ground rent an¢J full rentsl of apartrnents are recognised in thè riod which they relate. 1.6 Expenditure Expenditure Is rerniSed On there 15 8 legal or con5tmctive obligats.on to tonsfer onOMiC bgnefit to 8 third party, It Is probable that a transfer ol econornic ben&fits will be required In setuèment, and the amoun¢ of the obligation ran be Measured reliably. All costs are allocated to the applicable expendrture heading that aggregate similar costs to that catsgory. whe costs cannot be d1CY attributed to parbrJJlar headings they have been allocated on a basis consistent wilh the use ol resour5. Ralsing funds These are cost5 Incurred in attracting voluntary Income. the management of investrnent5 and those ineuffed in trading activities that raise funds. Governance costs These Include the costs attribuiable to thè tharity's compliance with constitutional and statutory requirements, induding audit. strategic management and tru¥tees' meetings and reimbursed expenses. 1.7 Tanglbte flxed assets Tangible fixed assets costing £100 or more are initially measured at cost and subsÈquendy measured at cost or valuatson, net of depreciation and any irnpaimient losses. Subsequent day-taY seNiung ol the assets will be recognized in the profit or loss in the period they are Incurred. Only subsequent expenditu that can provide an incr8rnental benefit will be capitalized. No depreciation is charged on a55ats under construction. Depreciation is recognised so as to writs off the cost or valuation of assets less their residual value5 over their U58lul lives on th• following bases.. Fixtu$ and fitty'ngs 15% reducing b318n The gain or103$ arising on the disposal of an asset Is determined as the dIffenCe betr4een the sal8 proc8eds and the carrying value of the asset. and is rerfvO3ni5ed In the statement ol finanaal actiMties. 1.8 Investment property Investment property, which is propety held to eam renta15 8ndlor for capital appreciation, is initially recognised at C05t. which Indudes the purchase wst and any directty 8ttributsble expenditure. Subsequenly il is measured at fair value at the reporting end date. The surplus or deficit on revaluation 15 reccgnised In profit or loss. 10-
OAK TREE HOMES TRUST LTD. NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 JUNE 2024 A¢¢oLtnllng pollcle8 Icontlnuedl 1.9 Impainnent of fixed asaets At each reporting end date. the Charfy reviews the carrying amounts of its tangible assets to determine whethèr there is any indication that those assets have suffered 8n impairnent Ios5. If any such indicats.on exists, the recoverable amount of the asset is estimated in order to detemiine the extsnt ol the impairment loss lif any). 1.10 Stock8 Stocks ar8 Stated at the lower of cost and estimated selling price less costs to complete and sell. Cost compnses direct materials and, Whe applicable. dir8Ct 18bour costs 8nd those ovèrhe8ds that have been incutted In bnnging thè stocks to their psent location and condition. Items held for distribution at no or nominal consideration are measured the lower of replacèmènt cost and cost. Net realisable value Is the estimated selling wce le95 all estimated costs of completion and costs to be incurr8d in matkoting, selling and d15tribution. 1.11 Cash and ca8h equivalents Cash and rash equivalents include cash in hand, deposits held at call with banks. other short-temi liquid Investments with original maturitses of three months or les5, and bank overdrafts. 8ank overdrafts are shown within borrowin95 In current Iiabililie5. 1.12 Financial instruments The Charity has elected to apply the provisions of Sethon 11 'Ba5ic Financial Instruments. and Section 12 'Othar Financial Instruments Issues, of FRS 102 to all of its financial instrurnents. Financial instruments a recognised in the Charity's balance sheet when the Charity becornes party to the contractual prOS1On$ of the instrument. Fin8nc181 assets 8nd 118bilitie5 are olfset, with the net amounts presented in the finanual statsments. wh8 there is a legally enforceable nght to Set off the recognised amounts and there is an intents'on to setde on a net basis or to reali88 tha as58t and 5etde the liability simultaneously. Basle flnanelal ass•ts B851c fin8nci81 8ssets. wh1¢h includè debtors and cash and bank balans, are initially measured 8t transaction pri induding transactson costs and are subsequenly carried al amortised cost using the effective Inter8St method unless the 8rr8ngement constitutes a financing transaction. where the transaction is rneasured at the present value of the fvture reiptS d15counted at a market rate of Inte$t. Financial assets dassified as rer£1¥8b wthin one year are not arnortised. 8asic financial liabilities Ba51c financial liabilitl8s. including creditors and bank loans are initially recognised at transaction pn unless the arrangement constitutes a financing transaction, wh8r8 th8 d8bt instrument 15 rneasured at the psent value of the futur8 paymenis discounted at 8 market rate ol interest. Financial liabilities dassified 85 payable thin one year are not arnortised. Debt Instruments a subsequenuy carried at amorbsed cost. using the effective illt8rest rats mathod. Trade creditors are obligations to pay foT goods or servi$ that have been ao]uired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities il payment Is due within one year or les5. If not, they are presented as non-current liabilits'es. Trade creditors are re¢ognised inits-ally at transaction pri and subsequendy rneasud at arnort15ed cost using the effective Intest method. Derecognhlon of flnancial Ilabllllles Financial IabilItIeS are derecognised when the Charity's contractual oblig8ts.ons expire or are discharged or cancèlled.
OAK TREE HOMES TRUST LTD. NOTES TO THE FINANCIAL STATEMENTS ICONTINUEDI FOR THE YEAR ENDED 30 JUNE 2024 ACCOUnn9 pollcle8 l¢ontlnuodl 1.13 Taxatlon The charity is conSided to pass the tests set out in Paragraph 1 Schedule 6 of the Finance Act 2010 and therefore meets the definition of a charitable company lor UK corporation tax purpose5. Accordingly, the charty Is Potentially exefflpt trorn taxation in spect of incryne or capitsl gains réceived within categories covered by Chapter 3 Part 11 of the Corporation Tax Act 2010 or Section 256 of the Taxation of Chargeable Gains Ad 1992. to the exlent that such income or g8in5 8re applied exdusively to chantable purposes. CrlUcal #eeountlng estlmat68 and ludgements In the applicats'on of the Charity's accounting poliaes, the Trustees are required to make judgements, estirnate5 and as5umption5 about the carrying amount of assets and liabilities that are not readily app8nt from ottter sources. The ests'rnates and associated 85sumpts.ons are based on historical experience and other factors that are considered to be relevant. Actual results may differ frorn these estirnates. The estirnates and underfying assumptions a vieWed on an ongoing basis. Revisions to accounts.ng estimates are recognised in the period In which the estimate is ViSed Whe the revision afflS only that period. or in the period ol the revision and fiJture periods where the reM5ion affects both current and future periods. Donallonj and18gacle8 Unre8tr1cted Unrestricted fvnd• funds 2024 2023 Donations and gifts GIftAid redaimed 19,683 2.933 40.148 8.014 Incom8 from oth•rtradlng aetlvltles unrost¢ted Unrestrl¢ted fund8 funds 2024 2023 Trading income from sales of gry)ds and s8Nic•s 22,671 23,811
OAK TREE HOMES TRUST LTD. NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 JUNE 2024 Income from Investments Unr88trfctsd Unr•strlctsd fund• funds 2024 2023 Rentsl income Interest receivab 7.263 2,862 1,793 10,125 8,837 Ral8ing funds Unrè•trlcled Unrestricted fund• funds 2024 2023 Fundraisin Advertising and ublic 406 128 Tradin costs Other trading aCtiltieS 571 1,310 Inveslment m8nagernent Costs (property expenses) 11,383 5.325 12.380 6,763 Expondltur• on eharltable actlvltles Govgrnance Gov•rnance Costs 2024 2023 Dlrect costs Printing, postage and stationery Sundry expenses Independent Examinerfs fee Bookkeepin9 Bank charge5 Oepreciation ol fixtu8 & fittings Professional fees 546 796 1,800 180 240 2.561 13 1,022 949 1,800 600 235 3,013 1,251 6.436 8,870 Analysls by lund Unrestricted funds 6.436 8.870 13
OAK TREE HOMES TRUST LTD. NOTES TO THE FINANCIAL STATEMENTS ICONTINUEDI FOR THE YEAR ENDED 30 JUNE 2024 Net movement in funds 2024 2023 The net movement in Trds is ststed after chargingllcreditingl.. Depr8aats"on of owned tangib fixed assets 2,561 3.013 Trustses None of the Trust88s lor 8ny persons connected with them) raeeiv8d any remuneration or benefit5 from the Charity during the year. 10 Employees Th8 average rnonthly number of employees dunng the year was.. 2024 Number 2023 Numbèr Total 11 Galn¥ ond 108388 on Invwdlments UnrnStet•d Unrestricted lunds funds 2024 2023 Gainslllossesl arising on. Revaluab"on of investrnent properti8S 1115.0001 2,500 12 Taxatlon Th8 eharty is exempt from tsxation on ts activitse5 because all its incorne is applied for charitable purposes. 14
OAK TREE HOMES TRUST LTD. NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 JUNE 2024 13 Tanglbl? Ilxed a830ts Ass•ts undqr Flxtures and ¢on8tru¢tSon fllllngs Tot•1 Cost Al 1 July 2023 Additions 34,553 34,553 456 456 At 30 June 2024 456 34.553 35.009 Depreciatlon and Impaimi•nt At 1 July 2023 Depreciation charged in the year 17.477 2.561 17.477 2.561 At 30 June 2024 20.038 20,038 Carrylng amount At 30 June 2024 456 14.515 14.971 At 30 June 2023 17,076 17.076 14 Investment property 2024 Fair value At 1 July 2023 Net gains or losses through fair v8lue adjustrnents 1.141,002 1115,0001 At 30 June 2024 1,026,002 The fair value of the company'5 investment property was revalued on an open rnarket basis at 30 Juna 2024 by the Tiustees. An Independent valuer was not involved but the view of a firm of Chartered Surveyors around that tsme wa5 taken Into account. Had this dass of a$set been measured on a historical cost basis, the carying amount would havo bpen £936,66012023- £936,660). 16 Stocks 2024 2023 Stocks 267.395 267,395 16 Debtors 2024 2023 Amounts falllng due vlthln one year.. Other debtors 16,378 23.378 15
OAK TREE HOMES TRUST LTD. NOTES TO THE FINANCIAL STATEMENTS ICONTINUEDI FOR THE YEAR ENDED 30 JUNE 2024 17 Credltor•'. amounts lalllng due wlthln one year 2024 2023 Other crgdito Aruel9 and deferred Incorne 2.420 1.800 2.392 2,400 4,220 4.792 18 Credltors.. amounts falllng due after more than one year 2024 2023 Olh8r ¢r8drtors 888 19 Unro8trict•d funds The unStriCted funds of the charity comprise the unexpended balances of donations grants which are not subject to specific conditions by donors and grantors as lo how they may be used. These Include designated hjnds which have been set 8side out of unrestricted funds by the trustees for specific purposes. At 1 July 2023 Incomlng Resources re$ourc?g expended Galns and 108888 At 30 June 2024 Gen8ral funds 1,580,863 55,412 118.7961 1115.OlX)I 1,502,479 Prevlous year: At 1 July 2022 Incoming re6our¢e8 Rwdources expended Gains and 108SeS At 30 June 2023 General funds 1,513,186 80.810 115,6331 2.5CO 1,580,863 20 Related paity tran8actlon# During th8 period the following rèlated party transactions were relevant.. Brfan Jempson (Trustee ol the chartyl During the year. BThan m8de donations to the charity. Jomp¥on8 Limlt•d (Company in which two of the trust8ès controll JeTnp50ns Lirnrted make5 donats.ons to th& charity. At the balance sheet date the amount duè to Jempsons Limited was £O12023- £8881. 16