REGISTERED COMPANY NUMBER: 09642400 (England and Wales)
REGISTERED CHARITY NUMBER: 1166703
REPORT OF THE TRUST
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
FOR
THE FRIENDLY ALMSHOUSES
A COMPANY LIMITED BY GUARANTEE
Hysons
Chartered Accountants
14 London Street
Andover
Hampshire
SP10 2PA

THE FRIENDLY ALMSHOUSES
CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
Page
Report of the Trustees
Independent Examiner's Report
Statement of Financial Activities
Balance Sheet
Notes to the Financial Statements
10 to 15
Detailed Statement of Financial Activities
16 to 17

THE FRIENDLY ALMSHOUSES
REPORT OF THE TRUSTEES
FOR THE YEAR ENDED 31 MARCH 2024
The trustees, who are also direclors of the charity for the purposes of the Companies Act 2006,
piesent their report with a summary of the financial statements of the charity for the year ended 31
March 2024. The trustees have adopled Ihe provisions of Accounting and Reporting Charities
statement of Recommended Practice applicable to charrties, preparing their accounts in
accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland
IFRS1021, effective 1 January 2019.
OBJECTIVES AND ACTIVITIES
Objectives and aims
The object of the Charity is set out in the Scheme of the Charity Commissioners dated 12th
December 1980. This is
to relieve and assist: by the provision of housing and associated
amenities, needy women of good character over the age of 60 years... resident within ten miles of
st Paul's Cathedral" In 1993, with the consent of the Charity Commissioners, the minimum age at
entry was lowered to 50 years.
Women interested in taking up residence in the Almshouses may be referred by social services
and other local agencies, or they may approach us directly.
The Charity currently has 20 flats, distributed between the Victoria Coltages and Martindale House,
available for occupation. Residents lead independent lives, though the wardens and Clerk are
available to provide support and help in dealing with personal and practical problems. When not
conslrained by the lockdown requirements, participation in the community life and its many
activities is much encouraged, and the quarterly residents. meetings provide the opportunity for
discussion and exchange of ideas between residents and trustees.
Public benefit
The trustees have considered the activities of the Charity, its achievements for the year to 31
March 2024 and its plans for the future against the public benefit guidance issued by the Charity
Commission. They agreed that the public who benefit from Ihe Charity's work are those who are
described in the Charity's objectives and aims as noted above and is essentially the same as that
envisaged by the founders.. "for the provision of permanent relief to poor and aged women. It is a
Society managed by women for women...
Social investments
Programme related investments, in the form of freehold property. have contributed towards the
achievement of the Charity's aims and objectives because these properties are used to provide the
social housing for Charity s beneficiaries.
Page 1

THE FRIENDLY ALMSHOUSES
REPORT OF THE TRUSTEES
FOR THE YEAR ENDED 31 MARCH 2024
ACHIEVEMENT AND PERFORMANCE
C haritable activities
2022 & 2023 was a turbulent period for the UK and the world economy with global conflict iii the
Ukraine and the Middle Easl. While the cost of living has continued to rise in the UK since 2022,
with Ihe annual rate of inflalion reaching a peak at 11.10/D in October 2023, according to the
Consumer Price Index (CPI) the rate of inflation in the comparative period has however dropped to
4.6°/0 in October 2023.
Nonetheless, despite these uncertain economic times the charity has managed to improve its
f inancial position
both from a cash generalion and balance sheet point of view. With careful
management and investment, our income position continues lo be strong with the majority of
residents qualifying for full housing benefit. Both our fixed and variable expenditure is judiciously
managed in-house by bookkeepei Niyi Ogunsina and by prudent inveslmenl with Rathbones and
CCLA. This has allowed us lo make good progress in building our annual reserves, obviously a
crucial componenl in taking forward any future plans the charity may have for the Colville site.
Significantly we also upgraded the whole of our central heating system in October 2022, allowing
our residents to enjoy the benefits of improved efficiency and reliability.
Throughout the year we held several successful galherings, lunches and coffee mornings, raising
funds for Macmillan Cancer as well as for a community barbecue for the residents., while a little
further afield many of the residents explored the legendary and varied delights of the Chelsea
Physic Garden. These shared adventures foster a sense of community, reduce feelings of
isolation and forge happy memories for the years to come. We will be organising many more such
outings in the future.
In September 2023, we welcomed trustees from The Story of Christmas charity and gave them
lunch in the new Summer House acquired as a result of their generous grant. Aware of our rather
secluded, tucked away location, we have been organising a series of outreach events to the wider
Brixton community, enabling us to demonstrate to relevant agencies what the Almshouses
provision has lo offer. The gardens behind our Victoria cottages continue to provide a peaceful
sanctuary and a wonderful focal point to be enjoyed by residents and visitors alike.
The cultural diversity of our residents is one of the characteristics thal make our Almshouses
unique and equally it takes special people to respond to the challenging needs of an older
community. I would particularly like to highlight Senior Support Manager, Ronnie Marr, who is
quite simply a human dynamo and on behalf of the trustees I would like to thank her for her
unwavering commitment, energy and enthusiasm which sets the tone for the whole community.
TFA only runs with the help of a committed team. and I would also like to thank all my volunteer
truslees for their lime, guidance, hard work, perseverance and good humour over the past year.
Felicity Stonehill
Chair to the Board of Trustees October 2024
Page 2

THE FRIENDLY ALMSHOUSES
REPORT OF THE TRUSTEES
FOR THE YEAR ENDED 31 MARCH 2024
FINANCIAL REVIEW
Financial position
The Charity's income continues lo derive principally from the weekly maintenance contributions
IWMC) paid by its beneficiaries. The majority of this income is drawn from housing benefit, and as
the Charity has been deemed exempt from the housing benefit cap. this is a reliable income
slream with potential for increase when required.
The Charity generated £118k (2023-. £135k) from operating activities (excluding grants and
donations) during Ihe year to 31 March 2024_ This leaves us well placed to service the remaining
Almshouse Association loan of £37k and to conlinue building reseives to enable redevelopment of
the Colville House site.
Reserves policy
Reserves are held in order to provide adequate funds to maintain the housing stock in good repair,
lo fund future developments and to continue to provide housing and support to residents in the
event of a disruption in revenue. In addition to the investments, the Charity held cash reserves of
£145k as at 31 March 2024 giving a total reserve of £1,726k, all of which were unrestricted funds.
This more than meets the expectation of at least three months, operating costs being available to
deal with the consequences of unanticipated challenges.
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
The Charity is controlled by its goveming document: the Memorandum and Articles of Association,
and constitutes a company, limited by guarantee, as defined by the Companies Act 2006.
The charity is governed by a Board of Trustees, up to a maximum of fourteen, (the Board may also
co-opt members up to a third of its total membership). The Board currently meets every two
months and has a quorum of three. All of the trustees sit on at least one sub-committee, of which
there are currently five. These sub-committees have their own governance structure and
decision-making powers and meet as often as required to deal with the business of the day. They
report formally at each Board meeting.
The Board has due regard at all times to the Charily Commission's guidance in the exercise of its
powers and duties. On appointment, new members of the Board receive an induclion pack, and
have access to a copy of the Almshouse Association's Standaid of Almshouse Management.
Board members have also attended seminars and briefings in areas such as housing, charity law,
and the responsibilities of Trustees.
REFERENCE AND ADMINISTRATIVE DETAILS
Registered Company number
09642400 (England and Wales)
Registered Charity number
1166703
Registered office
155-167 Stockwell Park Road
London
SW9 OTL
Page 3

THE FRIENDLY ALMSHOUSES
REPORT OF THE TRUSTEES
FOR THE YEAR ENDED 31 MARCH 2024
Trustees
F D Stonehill (Chair)
C J E Woollcombe Gambrill (Kate)
S Faulkner (resigned 4.8.23)
S Malhotra
R Johnson
L Tomlinson
E J Lindsay
R Kennedy
J Walker (appointed 4.12.23)
S R Forda (appointed 4.12.23)
President
H Bowes-Lyon C.V.O.
Vice Presidents
H Parsons
C Shuster
Clerk to the Trustees
R de Grey (to September 2023)
E Fleming (from May 2024)
Senior Support Manager
R Marr
Independent Examiner
Christopher Joyce FCCA
Hysons
Chartered Accountants
14 London Street
Andover
Hampshire
SP10 2PA
Bankers
The Royal Bank of Scotland
62-63 Threadneedle Street
London
EC2R 8LA
Solicitors
Farrer & Co LLP
66 Lincoln's Inn Fields
London
WC2A 3LH
Page 4

THE FRIENDLY ALMSHOUSES
REPORT OF THE TRUSTEES
FOR THE YEAR ENDED 31 MARCH 2024
REFERENCE AND ADMINISTRATIVE DETAILS
Investment advisers
Rathbones Investment Management
Fiennes House
32 Southgate Street
Winchester
Hampshire
S023 9EH
Approved by order of the board of trustees on
behalf by-
and signed on its
F D Stonehill (Chair)
rustee
Page 5

INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF
THE FRIENDLY ALMSHOUSES
Independent examiner's report to the trustees of The Friendly Almshouses ('the Company'l
report to the charity truslees on my examination of the accounts of the Company for the year
ended 31 March 2024.
Responsibilities and basis of report
As the charity's trustees of Ihe Company (and also its directors for the purposes of company lawl
YOLI are responsible for the preparation of the accounts in accordance with the requirements of the
Companies Act 2006 ('the 2006 Act,).
Having satisfied myself that the accounts of the Company are not required to be audited under
Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my
examination of your charity's accounts as cariied out under Section 145 of the Charities Act 2011
I'the 2011 Act'}. In carrying out my examination I have followed the Directions given by the Charity
Commission under Section 145(5) (b) of the 2011 Act.
Independent examiner's statement
Since your charity's gross income exceeded £250.000 your examiner must be a member of a listed
body. I can confirm that l am qualified to undertake the examination because l am a member of the
Association of Chartered Certified Accountants, which is one of the listed bodies.
I have completed my examination. I confirm that no matters have come to my attention in
connection with the examination giving me cause to believe..
accounting records were not kept in respect of the Company as required by Section 386 of
the 2006 Act, or
the accounts do nol accord with Ihose records- or
the accoLrnts do not comply with the accounting requirements of Section 396 of tlie 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 examinalion-, or
the accounts have not been prepared in accordance with Ihe methods and principles of the
Statement of Recommended Practice for accounting and reporling by charities (applicable to
charities preparing their accounts in accordance with the Financial Reporting Standard
applicable in the UK and Republic of Ireland (FRS 102)).
I have no concerns and have come across no other matters in connection with the examination to
which attention should be drawn in this report in order to enable a proper understanding of the
accounts to be reached.
Christopher Joyce FCCA
Hysons
Chartered Accountanls
14 London Street
Andover
Hampshire
SP10 2PA
Date..
Page 6

THE FRIENDLY ALMSHOUSES
STATEMENT OF FINANCIAL ACTJVITIES
INCORPORATING AN INCOME AND EXPENDITURE ACCOUNT
ORTH
YEAR ENDED 31 MARCH 2024
2024
Tolal
funds
2023
Total
funds
Unrestricted Restricted
fund
fLJnd
Notes
INCOME AND ENDOWMENTS FROM
Donations and legacies
105
105
1,107
Charitable activities
Provision of Housing
333.618
333,618
371,829
Investment income
Other income
6.145
5.000
6.145
5,000
1,012
3,323
Total
344,868
344,868
377,271
EXPENDITURE ON
Charitable activities
Provision of Housing
226,354
226,354
241,275
Net gainslllossesl on investfflents
23.543
23,543
(1.945)
NET INCOME
142.057
142,057
134,051
RECONCILIATION OF FUNDS
Total funds brought foNiard
1,583,672
1,583,672 1,449,621
TOTAL FUNDS CARRIED FORWARD
1.725,729
1,725,729 1,583,672
The notes form part of these financial statements
Page 7

THE FRIENDLY ALMSHOUSES
BALANCE SHEET
31 MARCH 2024
2024
Total
funds
2023
Total
funds
Unrestricted Restricted
fund
fund
Notes
FIXED ASSETS
Tangible assets
Investments
1,111.181
518.797
1,111,181
518,797
1,123,966
192,529
1,629,978
1,629,978
1,316,495
CURRENT ASSETS
Debtors
Investments
Prepayments and accrued income
Cash at bank and in hand
10
12,514
611
2,888
145,011
12.514
611
2,888
145,011
13,432
582
1,137
326,996
161,024
161,024
342,147
CREDITORS
Amounts falling due within one year
12
(33.773)
(33,773)
(38,2201
NET CURRENT ASSETS
127,251
127,251
303,927
TOTAL ASSETS LESS CURRENT
LIABILITIES
1.757,229
1,757,229 1,620,422
CREDITORS
Amounts falling due after more than one
year
(31,500)
(31,500)
(36,750)
NET ASSETS
1.725,729
1,725,729 1,583,672
FUNDS
Unrestricted funds
15
1,725,729
1,583,672
TOTAL FUNDS
1,725,729
1,583,672
The charitable company is entitled to exemption from audit under Section 477 of the Companies
Act 2006 for the year ended 31 March 2024.
The members have not required the company to obtain an audit of its financial slalements for the
year ended 31 March 2024 in accordance with Section 476 of the Companies Act 2006.
The notes form part of these financial statements
Page 8
continued...

THE FRIENDLY ALMSHOUSES
BALANCE SHEET - continued
31 MARCH 2024
The trustees acknowledge their responsibilities for
la)
ensuring that the charitable company keeps accounting records that comply with Sections
386 and 387 of the Companies Act 2006 and
(b) preparing financial statements which give a true and fair view of the slate of affairs of the
charitable company as at the end of each financial year and of its surplus or deficit for each
financial year in accordance with the requirements of Sections 394 and 395 and which
othenvise comply with the requiremenls of the Companies Act 2006 relating to financial
statements, so far as applicable lo the charilable company.
These financial statements have been prepared in accordance with the provisions applicable to
charitable companies subject to the small companies regime.
nci
tem
nts
ere approved by the Board of Trustees and authorised for issue on
and were signed on its behalf by-
F D Stonehill (Chai
Trustee
The notes form part of these financial statements
Page 9

THE FRIENDLY ALMSHOUSES
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
ACCOUNTING POLICIES
Basis of preparing the financial statements
The financial statements of the charitable company, which is a public benefit entity under
FRS 102, have been prepared in accordance with the Charities SORP IFRS 1021
'Accounting and Reporting by Charities. Statement of Recommended Practice applicable to
charities preparing their accounts in accoidance with the Financial Reporting Standard
applicable in the UK and Republic of Ireland (FRS 102) {effective 1 January 2015),, Financial
Reporting Standard 102 'The Financial Reporting Standard applicable in Ihe UK and
Republic of Ireland and the Companies Act 2006. The financial statements have been
prepared under the historical cost convention with the exception of investments which are
included at market value, as modified by the revaluation of certain assets.
Income
All income is recognised in the Statement of Financial Activities once the charity has
entitlement to the funds, it is probable that the income will be received and the amount can
be measured reliably.
Expenditure
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation
committing the charily lo that expendilure, il 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 cosls cannot be directly attributed to
particular headings they have been allocated to activities on a basis consistent with the use
of resources.
Allocation and apportionment of costs
All support and governance costs relate to the activity of providing housing in accordance
with the objectives of the charity.
Tangible fixed assets
Depreciation is provided al the following annual rates in order to write off each asset over its
estimated usef ul life.
Freehold property
Equipment and fittings
Straight line over 50 years
Straight line over 3 and 10 years
Social investments
The cost of the freehold property is accounted for within tangible fixed assets as it is a
programme related investment held specifically to contribute to the charity's charitable
purpose.
Taxation
The charity is exempl fiom corporation lax on its charitable activities.
Fund accounting
Unrestricted funds can be used in accordance with the charitable objectives at the discretion
of the trustees.
Restricted funds can only be used for particular restricted purpose5 Wlthin the objects of the
charity. Restrictions arise when specified by the donor or when funds are raised for
particular restricted purposes.
Page10
continued...

THE FRIENDLY ALMSHOUSES
NOTES TO THE FINANCIAL STATEMENTS - continued
R THE YEAR ENDED 31 MARCH
ACCOUNTING POLICIES - continued
Pension costs and other post-retirement benefits
The charitable company operates a defined contribution pension scheme.
Contributions
payable to the charitable company's pension scheme are charged to the Statement of
Financial Activities In the period to which they relate.
DONATIONS AND LEGACIES
2024
2023
Donations
105
1,107
INVESTMENT INCOME
2024
2023
Other fixed asset invest - Fll
Deposit account interest
2,844
3,301
1,002
6,145
1,012
OTHER INCOME
2024
2023
Employment allowance
5,000
3,323
NET INCOMEI(EXPENDITURE)
Net incomel(expenditure) is stated after chargingl(crediting):
2024
2023
Independent ExaminerlAuditor remuneration
Depreciation - owned assets
1.980
12,785.
1,800
12,785
TRUSTEES. REMUNERATION AND BENEFITS
There were no trustees, remuneration or other benefits for the year ended 31 Maich 2024
nor for the year ended 31 March 2023.
Trustees. expenses
There were no trustees, expenses paid for the year ended 31 March 2024 nor for the year
ended 31 March 2023.
Page11
continued...

THE FRIENDLY ALMSHOUSES
NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024
STAFF COSTS
The average monthly number of employees during the year was as follows,,
2024
2023
Charitable activities
Support costs
No employees received emoluments in excess of £60.000.
TANGIBLE FIXED ASSETS
Equiprnent
and
fittings
Freehold
property
Totals
COST
At 1 April 2023 and 31 March 2024
1,017.319
133,433
1,150,752
DEPRECIATION
At 1 April 2023
Charge for year
26,786
12,785
26,786
12,785
At 31 March 2024
39,571
39,571
NET BOOK VALUE
Al 31 Maich 2024
1,017,319
93,862
1,111,181
At 31 March 2023
1.017.319
106,647
1,123,966
FIXED ASSET INVESTMENTS
Listed
investments
Cash
Totals
MARKET VALUE
At 1 April 2023
Additions
Disposals
Revaluations
192,529
301,954
192,529
302,845
604,799
(302,074) 1302,0741
23,543
23,543
At 31 March 2024
518.026
771
518,797
NET BOOK VALUE
At 31 March 2024
518,026
771
518,797
At 31 March 2023
192,529
192,529
There were no investment assets outside the UK.
Page 12
continued...

THE FRIENDLY ALMSHOUSES
NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2
24
FIXED ASSET INVESTMENTS - continued
Fixed asset investments are shown at market value at the balance sheet date.
10. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024
2023
Trade debtors
Other debtors
7,496
5,018
12,241
1,191
12,514
13,432
11. CURRENT ASSET INVESTMENTS
2024
2023
COIF Deposit Funds
611
582
CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024
2023
Other loans (see note 14)
Trade creditors
Other creditors
Accrued expenses
5,250
21,115
237
7,171
5,250
20,699
6,807
5,464
33,773
38,220
13. CREDITORS.. AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024
2023
Other loans (see note 14)
31,500
36,750
14. LOANS
An analysis of the maturity of loans is given below..
2024
2023
Amounts falling due within one year on demand".
Almshouse Association loan
5,250
5,250
Amounts falling between one and two years.
Almshouse Association loan
5,250
5,250
Amounts falling due between two and five years:
Almshouse Association loan
15,750
15,750
Page 13
continued...

THE FRIENDLY ALMSHOUSES
NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024
14. LOANS - continued
2024
2023
Amounts falling due in more than five years=
Repayable by inslalments..
Almshouse Association loan
10,500
15,750
15. MOVEMENT IN FUNDS
Net
movement
in funds
At
31.3.24
At 1.4.23
Unrestricted funds
General fund
1,583,672
142,057
1,725,729
TOTAL FUNDS
1,583,672
142,057
1,725,729
Net movement in funds, included in the above are as follows:
Incoming
resources
Resources
expended
Gains and Movement
losses
in funds
Unrestricted funds
General fund
344,868
(226,354)
23,543
142,057
TOTAL FUNDS
344,868
(226,354)
23,543
142,057
Comparatives for movement in funds
Net
movement
in funds
Transfers
between
funds
At
31.3.23
At 1.4.22
Unrestricted funds
General fund
1.399.621
134,051
50,000
1,583,672
Restricted funds
Improvements to the Almshouses
50.000
(50.000)
TOTAL FUNDS
1,449,621
134.051
1,583,672
Page 14
continued.

THE FRIENDLY ALMSHOUSES
NOTES TO THE FINANCIAL STATEMENTS _ r.tintiniJpd
FOR THE YEAR ENDED 31 MARCH 2024
15. MOVEMENT IN FUNDS- continued
Comparative net movement in funds, included in the above are as follows:
Incoming
resources
Resources
expended
Gains and Movement
losses
in funds
Unrestricted funds
General fund
377,271
(241,275)
{1,945}
134.051
TOTAL FUNDS
377,271
{241,275)
(1,9451
134,051
The Improvement to the Almshouses Fund represents money received to be used for the
replacement of windows and the build of a garden room at the Almshouses.
16. RELATED PARTY DISCLOSURES
There were no related party transactions for the year ended 31 March 2024.
17. ULTIMATE CONTROLLING PARTY
The Charity was controlled throughout the year by its members.
Page 15

THE FRIENDLY ALMSHOUSES
DETAILED STATEMENT OF FINANCIAL ACTIVITIES
FOR THE YEAR ENDED 31 MARCH 2024
2024
2023
INCOME AND ENDOWMENTS
Donations and legacies
Donatiolls
105
1,107
Investment income
Other fixed asset invest - Fl I
Deposit account interest
2,844
3,301
10
1,002
6,145
1,012
Charitable activities
Renl received
Service charges
Support charges
241,024
72,268
20,326
265,895
83,463
22,471
333,618
371,829
Other income
Employment allowance
5,000
3.323
Total incoming resources
344,868
377.271
EXPENDITURE
Charitable activities
Vvages
Social security
Pensions
Rates and water
Insurance
Light and heat
Properly expenses
Residents welfare and social events
Depreciation of equipment and fittings
15,759
919
286
9,505
1,792
26,492
63,891
7,460
12,785
18.716
1,075
369
9,353
3,038
14,760
107,150
10,179
12,562
138,889
177,202
Support costs
Management
Wages
Social security
Pensions
Carried forward
48,645
4.726
865
54,236
38,268
2,248
588
41,104
This page does not form part of the statutory financial statements
Page 16

THE FRIENDLY ALMSHOUSES
DETAILED STATEMENT OF FINANCIAL ACTIVITIES
FOR THE YEAR ENDED 31 MARCH 2024
2024
2023
Management
Brought forward
Telephone and IT
Postage and stationery
Sundries
Recruitment and Iraining
Depreciation of equipment and fittings
Bank interest
54,236
7,303
2,197
160
2,822
41,104
5,268
943
286
224
482
393
67,111
48,307
Governance costs
Independent ExaminerlAuditor
remuneration
AGM and other meetings
Memberships
Professional fees
Bookkeeping
Investment adviser fees
1,980
68
219
15,431
2,536
120
1,800
51
701
12,914
300
20,354
15,766
Total resources expended
226,354
241,275
Net income
118,514
135,996
This page does not form part of the statutory financial statements
Page 17