REGISTERED CHARifi NUM8EL. 1167024 Re rt of the Tnjstees and Unauthted Financial Statements for the Year Ended 31 December 2023 for The JaThis Eleerno Cha Thorne Widgery k¢ountan¢y Ltd Chartered Accountants 2 Vfyevale Buslness Pa Klngs Acre Hereford Herefordshi HR4 7BS The Jams Eleemosynary Charfty Contents of the Financial Ststernents f¢T. the Year Ended 31 llecernL￿r 2023 Page Report of the Tw5tees 1 to 4 Independent Examinerf5 Report Staternent of Financial Activitie5 Balance Sheet Note5 to the Financial Statements 8 to 15 Detalled Statement of F1Th￿al Activities 16 to 17 The Jarvis E[ee￿￿)5)nJa Charit of the Trustees for the Year Ended 31 December 2023 trustees present thelr report wlth the flnanclal statements of the chartty for the year ended 31 December Z023. The trustee5 have adopted the prowsions of A¢¢ountin8 and Re￿)rtIng by Charities- statement of Retommerthd Practice applicable to charities preparfng their accounts in accordance ¥yith the Financial Reporting Standard appllcable In the VK a￿1 Republlc of Ireland IFRS 1021 leffertive l January 20191. The Charity is a Charitsble Incorporated Organi5ation ICIOI. It Wa5 e5tabli5hed ￿ 10th May 2016 to take foNard the of the UnlrKort*xatsd Association Iregistered tharity number 2091971. History The Eleem05ynary charity has evolved frorn a charity ftrst set UP Using the money left by Georye ja￿1$ 11704.17931 to help the poor of Brethardine, staunt￿￿￿-Wye and Letton. The charity wa5 siarted in 1803 help durlng i11r￿, and for￿, heating. cLothe5 and ducatioTr for the poor of the pari5he5. In 1852 ihe Jams Chatity Act allowed the Trustees to purchase land for the building of infant schty)l$ in the three wllages and also a boardlng school in Staunwnth-wye. As well as the schools, iwo blocks of Airnshouses were bullt In 185819 on larKJ atwred when planning the ￿lI1d1￿8 of the boarding Sch￿[. In 1904 the charity was split into the Jarvis Eleem05ynary ChaTity and JaNfjs Ed￿ttI¢Ma[ Foundation Charity (its related chadtyl. The Jatvis Eleemosynary Charity c¢)ver5 all non-edKationèl alms of ihe original charity, which Included runnlng the almshouses. In 1982 the Charity ComrnissioneF5 crtrated the Jaths Recreatlonal Chartty to be administered by the Tntstees of the Jams Eleem05ynary Charity. On 31 December 2016 the charity transferred it's a55ets and liabllftles to a Charftable Incorporated Organi5ation ICIOI to continue the actlvities of the charity. On 31 December 2019, all actiwities, assets and liabilitie5 of The Jaryls Recreatlonal Charity were tran5fetred to The Jarvi5 Eleemosynary Chartty by a Vestin8 Doajmenl, the objects of the old charfty are Inc[￿led within The Jawvis Eleemosynary Charfty. OWEcfivES AND ACTMTIES ObJecttve5 and alms The objective5 of the charfty are: The prevention or relief of need. har&hip or ithsiress In the villa8e5 of Brethvarthne. Staunton-on-wye, Letton and dlstricts of rural North and South Herefordshire in particular but not exclusively by providing: al Jarvis Eleemosynary Chamty owned AlMs-IK￿, and managlftg them to be let (for a malntenance feel to persons in need. bl One-off grants, itwns and se￿ceS to individuals in need at￿lor chamtles, or other or8an1sa￿0r wot*ing to PTevent or relieve [￿ed hardship or élstress. cl The provision of grant5 for chart￿ble recreati￿81 purrxxes, prirnarilyj but not exclusively for the benefit of the inhabitants of any of the parishes of Bredwardine. Staunton On Wye and Letton. The Eieem05ynary Charftys main activity is the running the almshovses, which is done on a day-to4ay basis by the Clerk and those of the Trustees with suitable expertlse w ad￿se her. In 1995 major repalrs were carried to the Alm5house5 propertles. These were financed by grants from Leominster District Council and a loan, which wa5 pald off in 2005106. The almshows were converted into 12 ￿ngle slorey One-￿edr￿Th units. A proyamme of modemisation and refurt)tshment was started in 2020 and completed in 2023 supported by a loan from the Association of Almshou5e5. PLknlic benefft In drafting this report, the Govemors have complied ￿th the duty In Section 4 gf the Charitle5 Act 2Cth, to have due regard to public benefit guidance published by the Charity Commission. ACPIIEVEMENT AND PERFORMANCE During the year the chaTity finalised the ￿furbiShrnenl of the almshouses. Cfftr the past f7ve yeats all twelve alm5hou5es have been treated for damp, repainted ar￿ had new kitchens. bathrooms and carpet5 fitted. An interest free loan of £50,LKQ fr¢Jm the Association of Alm5hou5es was secured in 2021 t9 5UPPOrt the refutt)tshment. The total C05È of the refurblshment of the almshouses was I333,￿￿. Page 1 The Ja￿$ £Leemos Charft of the T￿￿teeS for the Year Ended 31 December 2023 FINANCIAL REVIEW Flnanclal posltlon The results fi* the year and flnanthat position are set in the Statement of Finanthal Attivities and the Balance ShÈèt. Totsl intc*n7nB resources were 153,973 12022.. £57,707) . Resources expended were £101,596 12022: £77.2771. Net expenditure for the year before gair6 and losses was £47,623 12022: £19,570 net expendiwrel. Net assets arnounted to £546,89212ffL2.' £567,034). Prrncipal funding sources The principal funding Source of the charity is the liceKe fees received from the resldents of the AlMth¢￿￿, alon8 with di*idend and interest i￿Ome from the Investments. Investment Poll￿ and objertlyes Fund5 held for the lon4 term are classffled as fixed assets. As disclosed in the note5. investments are hekl 85 appropriate in COIF Charities Investment Fund Income Unlts, COIF Char6tfes Investment Fund Accumulation Unit and Brewfjn DoWTrln P￿[0170. Rè5er¥es PDIICY The Trustees revtew the policy on reserves and set targets at least once per annum wlth reference to the guidan and teminolo8y published by the Charity Commission. The policy is atso re￿ewed, when warranted by change5 in risk assessment or bu*rÉss pian5. At the balance slEet date Yree reseryes" were £112.468 12022: £97.9431. The charity generally aims lo hold suffldent 'Yree reserves" to eftable it to meet expected expendlture Commitments oTrfft the foreseeable future. lknterial investment Durin8 the year share disF*xals resulted in proceeds of £96,903 12022.. £163.8161 new investment purchases arnwnted to É48.4)1 12022-. £57.0641. Invertment perforrnance Dutfjng the yeai the c105ing market value of investments had fallen ty 7.29%12022: 32.33% redurtion.) FUTURE PLANS The charity plans to manage and mainiain the AlrnshrAJses In 2023. There a￿ ￿ plans for slgnlflcant expendilure and the tnjstees intend to rebulld the charitys reserves in the irnrnediate future. The chamty wlll continue to fulfil its objertives in the future. srRUCTURE, GOVERIIANCE AND MANAGEMEI erning document The charity is controlled by Its govemfjng document. a deed of trust and 75 a Charitable I￿Orporated thBanisation Recruiiment and appolntment of new trustees The ix)ard consists of ￿ to 17 trustee5. 7 NOmiThati￿ Trustees - 3 appointeé by Wyeside Parish Cwndl, 3 app)inted by staunton￿n-Wye Parish c￿ncil, and 1 appointed by Klnnersity and District Council. 8 co-opted Tnustees. each appointed f¢Y a term of 5 years. 2 local clergy as ex.officio members the Rector of the Parish of Br￿ardine Brobury, and the Vlcar of the Parishe5 of 51aunton-on-Wye and Letlon. At the year end there were 10 trustees, 2 n(thnative trustee ￿ behalf of Wyeslde Pattsh Coundl and ihe Fdrfied by the revaluation of certain a55ets. Goln8 Concern The twstee5 asse55 whether the use of going co)Kern Is approprfate fj.e. whether there are any matsdal uncertainties related to event5 or eondltlon$ that may cast $6gnlflcant th)ubt on the a￿lIty of the company to contfnue as a golng toncem. The tr￿teeS make thls assessment in reS￿ct of a period of at least one year fr(¥n the date of authorisation for i$5ue of the financial Statements arKI have c£¥￿1Uded tl¥at the c￿￿Pat￿ ha5 a