Charity registration number 1168780 (England and Wales) THOMAS WHITE COTTAGE HOMES (2016) CHARITY ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024
THOMAS WHITE COTTAGE HOMES (2016) CHARITY LEGAL AND ADMINISTRATIVE INFORMATION Trustees Mr T Horton Rev R A Khan Mrs C Maund Mrs L Reading Mrs N Schirrmacher Ms M Stafford Ms D J Hirst Mr D J Foster (Appointed 9 December 2024) {Appointed 9 Dember 2024) Clerk Mr Malford Harris Charity number 1168780 Prlncipal address 3 Maxtock Avenue Lichfield staffordshire WS13 6PE Independent examiner Colm McGrory The Oakley Kidderminster Road Droitwich WR9 9AY Bankers Barclays Bank PIC Leicester Leicestershire LE87 2BB
THOMAS WHITE COTTAGE HOMES (2016) CHARITY CONTENTS Page Trustees, report Independent examiner's report statement of financial activities Balance sheet Notes to the financial statements 6-16
THOMAS WHITE COTTAGE HOMES (2016) CHARITY TRUSTEES. REPORT FOR THE YEAR ENDED 31 DECEMBER 2024 The Trustees present their annual report and financial statements for the year ended 31 December 2024. The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the Charity's goveming 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 (FRS 1021 (effective 1 January 2019)" Objectives and activities Objectives and aims The Charity aims to provide in the fourteen flats which comprise the Cottage Homes, accommodation for single women in need of not less than 60 years of age, with a preference for such women who are resident at the time of their appointment in the area of the Ancient Parish of Bromsgrove or who have had a longstanding commitment to the town of Bromsgrove. Signrficant activities In planning the Charity's activities for the year the Trustees kept in mind the Charity Commission's guidance on public benefit. The focus of the Charity's activities remains the accommodation of eligible residents in the Charity's properties and to ensure that its flats are maintained to a reasonable standard and refurbished as the need arises. Volunteers The Charity relies on the unpaid services of the Trustees and the voluntary help and advice of a specialist historic buildings architect when appropriate. Achievements and perfomiance Charitable activities Throughout 2024 the Charity sought to maintain and improve its buildings and the site of the homes for the benefit of residents. The recommendations made in its specialist surveyor's report to assist in the eradication of historic damp problems were implemented, the work extending to the installation of new and replacement extraction fans and advice to residents as to how to control any damp problems. The historic gates to the properties were repaired and restored to their original appearance, and the design for new safety railings leading from those gates to the Homes was finalised. Fabrication was commissioned and installation is expected in mid-2025. The fEat roof at the rear of number 35 and 37 New Road continued to cause problems and, after failed attempts to repair it, with the assistance of our volunteer architect a state-of-the-art new roof, which hopefully should last for at least enty years, was put in place. Having commissioned a fire risk assessment towards the end of 2024 Twstees are now working on how its recommendations might be implemented with a view to improving. where possible, the safety of Residents in case of fire. Following our oldest Resident moving to a new home in early 2025, and the unfortunate death of another. the Charity now faces the need to refurbish iwo flats, planning for which has already begun. Investmentperfornance The Charity's investment is its holding in the M & G Investments National Association of Almshouses Common Investment Fund. Reserves are placed on deposit with its bank. Financial review Principal funding sources The Charity's principal source of funding continues to be Weekly Maintenance Contributions made by tts Residents, supplemented by the income from its M & G investment. The Charity accordingly acknowledges the generous assistan of local charities in meeting the cost of the repair and restoration of the gates, mentioned above.
THOMAS WHITE COTTAGE HOMES (2016) CHARITY TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 Reserves policy The policy of the Charity is to maintain its M & G investment unless its fvnds are required for and properly applicable to its charitable objects, and to hold accumulated cash to meet costs as they arise. The Charity tries to maintain a break-even situation annually. Otherwtse reserves are applied to proper charitable needs within its objects as those needs arise. The Trustees have assessed the major risks to which the Charity is exposed. and are satisfied that systems are in place to mitigate exposure to them. structure, governance and management Governing document The Charity is a Charitable Incorporated Organisation and is governed by its constitution adopted on 31 July 2016. as amended on 7 December 2020 to facilitate the appointment of new and additional trustees. A copy of the constitution is available from the Charity. The Trustees who served during the year and up to the date of signature of the financial statements were.. Mr G Pegg Mr T Horton Rev RA Khan Mrs C Maund Mrs L Reading Mrs N Schirrmacher Ms M Stsfford Ms D J Hirst Mr D J Foster (Resigned 30 Dernber 2024) (Appointed 9 December 2024) (Appointed 9 December 2024) Recruitment and appointment of new Trustees The Board of Trustees are authorised to appoint new trustees to fill vacancies arising through death or resignation of an existing Trustee. Oryanisational structure The day to day management is delegated by the Trustees to the Clerk. who is an employee of the Charity. Policy and strategic decisions are made by the Board of Trustees at regular meetings. The Charity provides the services of a part-time warden to support Its Residents. A new warden became an employee of the Charity and took up her post in January 2023. Intmduction and training of new trustees New Trustees are instructed by the Clerk and existing Trustees as to their duties and responsibilities and develop their knowledge of the Charity through Trustee meetings and involvement in the Charity's activities. The Trustees are responsible for preparing the Trustees. Report and the financial statements in accordance wth applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). The Trustees, report was approved by the Board of Trustees. k.e Mrs L Readlng Chair of Trustees
THOMAS WHITE COTTAGE HOMES (2016) CHARITY INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF THOMAS WHITE COTTAGE HOMES (2016) CHARITY I report to the Trustees on my examination of the financial statements of Thomas Imiite Cottage Homes (2016) Charity (the Charity) for the year ended 31 December 2024. Responsibilities and basis of report As the Trustees of the Charity you are responsible for the preparation of the financial statements in accordance with the requirements of the Charities Act 2011. I report in respect of my examination of the Charity's financial statements carried out under section 145 of the Charities Act 2011. In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5)(b) of the Charities Act 2011. Independent examiner's statement I have completed my examination. I confimi that no matters have come to my attention in connection with the examination giving me cause to believe that in any material respect.. accounting records were not kept in respect of the Charity as required by section 130 of the Charities Act 2011. the financial statements do not accord with those records- or the financial statements do not comply with the applicable requirements concerning the form and content of financial statements set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the financial statements give a true and fair view, which is not a matter considered as part of an independent examination. I have no concems 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 financial statements to be reached. Colm McGrory FCA The Oakley Kidderminster Road Dro11iCh Worcestershire WR9 9AY
THOMAS WHITE corrAGE HOMES (2016) CHARITY STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 DECEMBER 2024 Unrestricted Unrestricted Restricted funds funds funds General Revaluation fund Total 2024 Total 2023 Notes Income from: Donations and legacies Charitable activities Investments 2,750 2,750 82,358 12,147 14,000 78,232 10.461 82,358 12,147 Total income 94,505 2,750 97,255 102,693 enditure on: Charitable activities 92,935 2.628 2,750 98.313 169,684 Net gainsl(losses) on investments 7.310 7,310 3.667 Net movement In funds 8,880 (2.628) 6,252 (63,324) Fund balances at 1 January 2024 939,442 503,112 1,442,554 1,505,878 Fund balances at 31 December 2024 948,322 500,484 1,448,806 1,442.554 The statement of financial activities includes all gains and losses recognised in the year. The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.
THOMAS WHITE COTTAGE HOMES (2016) CHARITY BALANCE SHEET AS AT 31 DECEMBER 2024 2024 2023 Notes Fixed assets Tangible assets 11 1,146,819 1,157,913 Current assets Debtors Investments Cash at bank and in hand 12 13 10,634 225,442 155,350 2,362 218,132 145.705 391.426 366,199 Creditors: amounts falling due wlthln one year 15 (20,542) (5,111) Net current assets 370,884 361,088 Total assets less current Ilablllties 1,517,703 1,519,001 Creditors: amounts falling due after more than one year 16 (68,897) (76,447) Net assets 1,448.806 1,442,554 Income funds Unrestricted funds - revaluation reserve Unrestricted funds - general 18 500.484 948.322 503,112 939,442 1.448.806 1,442,554 0110712025 The financial statements were approved by the Trustees on ............... ....... Mrs L Reading Chair of Trustees
THOMAS WHITE corrAGE HOMES (2016) CHARITY NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 Accounting policies Charity infonnation Thomas White Cottage Homes (2016) Charity is a Charitable Incorporated Organisation and is governed by its constitution adopted on 31 July 2016, as amended on 7 December 2020. The principal address is 3 Maxtock Avenue, Lichfield, Staffordshire, WS13 6PE. 1.1 Accounting convention The financial statements have been prepared in accordance with the Charity's governing document, the Charities Act 2011 and "Accounting and Reporting by Charities.. Statement of Recommended Praclice 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)" The Charity is a Public Benefit Entity as defined by FRS 102. The Charity has taken advantage of the provisions in the SORP for charities applying FRS 102 Update Bulletin 1 not to prepare a Statement of Cash Flows. The financial statements are prepared in sterling, which is the functional currency of the Charity. Monetary amounts in these financial statements are rounded to the nearest £. The financial statements have been prepared under the historical cost convention, as modified by the revaluation of certain assets. 1.2 Going concern At the time of approving the financial statements, the Trustees have a reasonable expectation that the Charity has adequate resources to continue in operational existence for the foreseeable future. Thus the Trustees continue to adopt the going concem basis of accounting in preparing the financial statements. 1.3 Charitable funds Unrestricted funds are available for use at the discretion of the Trustees in furtherance of their charitable objectives. Restricted funds are subject to specific conditions by donors or grantors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements. 1A Income Income is recognised when the Charity is legally entitled to it after any perfom)ance conditions have been met, the amounts can be measured reliably, and it is probable that income will be reived. Cash donations are recognised on receipt. other donations are recognised once the Charity has been notified of the donation, unless performance conditions require deferral of the amount. Legacies are recognised on receipt or otherwise if the Charity has been notified of an impending distribution, the amount is known, and receipt is expected. If the amount is not known, the legacy is treated as a contingent asset. Investment income is included when receivable. 1.5 Expenditure Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, 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. }ere costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.
THOMAS WHITE corrAGE HOMES (2016) CHARITY NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 Accountlng policies (Continuedl Costs of charitable activities are incurred on the charity's operations, including support costs and costs relating to the governance of the charity apportioned to charitable activities. Govemance costs include those costs associated with the meeting of constitutional and statutory requirements of the charity and include the accountancy fees and costs linked to the strategic management of the charity. 1.6 Tangible fixed assets Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impaimient losses. Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases- Freehold property Fixtures and fittings straight line over 200 years 25Q/o on cost Freehold land is not depreciated. 1.7 Financial instruments The Charity has elected to apply the provisions of Section 11 'Basic Financial Instruments, and Section 12 'Other Financial Instruments Issues, of FRS 102 to all of its financial instruments. Financial instruments are recognised in the Charity's balance sheet when the Charity becomes party to the contractual provisions of the instwment. Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously. Basic r Inancial assets Basic financial assets, which include debtors and cash and bank balances. are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised. Other financial assets Other financial assets, including investments in equity instruments vthich are not subsidiaries. associates or joint ventures, are initially measured at fair value, which is normally the transaction price. Such assets are subsequently carried at fair value and the changes in fair value are recognised in net incomel(expenditure), except that investments in equity instruments that are not publicly traded and whose fair values cannot be measured reliably are measured at Cost less impairment.
THOMAS WHITE COTTAGE HOMES (2016) CHARITY NOTES TO THE FINANCIAL STATEMENTS (CONTINUED> FOR THE YEAR ENDED 31 DECEMBER 2024 Accountlng policies (Continued) Impaimient of financial assets Financial assets, other than those held at fair value through income and expenditure, are assessed for indicators of impairment at each reporting date. Financial assets are impaired where there is objective evidence that, as a result of one or more events that occurred after the initial recognition of the financial asset. the estimated future cash flows have been affected. If an asset is impaired, the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset's original effective interest rate. The impairment loss is recognised in net incomel(expenditure) for the year. If there is a decrease in the impainnent loss arising from an event occurring after the impairment was recognised, the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the carying amount would have been, had the impairment not previously been recognised. The impaimient reversal is recognised in net incomel(expenditure) for the year. Derecognition of financial assets Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire or are settled, or when the Charity transfers the financial asset and substantially all the risks and rewards of ownership to another entity, or if some significant risks and rewards of ownership are retained but control of the asset has transferred to another paty that is able to sell the asset in its entirety to an unrelated third paty. Basic financial liabilities Basic financial liabilities. including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised. Debt instruments are subsequently carried at amortised cost, using the effective interest rate method. Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classFfied as current liabilities if payment is due within one year or less. If not, they are presented as n0n-cuent liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method. Derecognition of financial liabilities Financial liabilities are derecogni5ed when the Charity's contractual obligations expire or are discharged or cancelled. 1.8 Taxation The charity is exempt from tax on its charitable activities. 1.9 Current asset investments Investments held as current assets are revalued at mid-market value at the balance sheet date and the gain or loss taken to the Statement of Financial Activities.
THOMAS WHITE COTTAGE HOMES (2016) CHARITY NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 Donations and legacies Restricted Unrestricted Restricted funds funds funds general 2023 Total 2024 2023 2023 Grants receivable 2,750 6,500 7,500 14,000 Grants receivable for core activities Baron Davenport Trust Rowlands Trust R&D Turner Trust GTW Tumer Trust Andrew Harris Charitable Trust Dumbreck Charity Bromsgrove Society 6,000 6,000 2,500 3,000 2,000 2,500 3,000 2,000 2.000 500 500 750 2,750 6,500 7,500 14,000 Income from charitable activltles 2024 2023 Residents contributions Other income 82,358 77,706 526 82,358 78,232 Investments 2024 2023 Dividends received on current asset investments Bank interest receivable 9,836 2,311 9,229 1,232 12,147 10,461
THOMAS WHITE COTTAGE HOMES (2016) CHARITY NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 Expendlture on charitable activities Restricted Unrestrlcted 2024 2024 Total 2024 Restricted Unrestricted 2023 2023 Total 2023 Direct costs Lifeline service charge Insruance Light, water, heat & council tax Sundries Property maintenance Administrative services Garden maintenance & landscaping Window cleaning Subscriptions Professional fees 1,714 3.015 1,714 3,015 1.714 2,903 1,714 2.903 447 854 50,762 1,699 447 854 53,512 1,699 430 791 86,180 3,759 430 791 120,899 3.759 2,750 34,719 6,198 1,500 407 6,198 1.500 407 3,189 1,180 238 5,400 3.189 1,180 238 5,400 2,750 66.596 69,346 34,719 105,784 140.503 Share of support and governance costs (see note 6) Support 27,638 Govemance 1,329 27,638 1,329 23,799 5,382 23.799 5.382 2,750 95,563 98,313 34,719 134,965 189,684 Analysis by fund Unrestricted funds - general Unrestricted funds- revaluation reserve Restricted funds 92,935 92,935 132,337 132,337 2,628 2,628 2,750 2,628 2,628 34,719 2,750 34.719 2.750 95,563 98,313 34.719 134,965 169,684 Support costs allocated to activlties 2024 2023 Stsff costs Depreciation Govemance costs 16,544 11,094 1,329 12.705 11.094 5,382 28,967 29,181 Analysed between: Unrestricted 28,967 29,181 Governance costs consist of accountancy fees of £693 and independent examination fees of £636. 10-
THOMAS WHITE COTTAGE HOMES (2016) CHARITY NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 Trustees None of the Trustees (or any persons connected with them) received any remuneration or benefits other than expenses properly incurred in connection with the charity's activities from the Charity during the year. Employees 2024 Number 2023 Number Employment costs 2024 2023 Wages and salaries 16,544 12.705 There were no employees whose annual remuneration was more than £60.000. Gains and losses on investments Unrestricted Unrestrlcted funds funds 2024 2023 Gainsl{losses) arising on: Revaluation of investments 7,310 3,667 10 Taxation The charity is exempt from taxation on its activities because all its income is applied for charitable purposes. 11
THOMAS WHITE COTTAGE HOMES (2016) CHARITY NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 11 Tangible fixed assets Freehold Flxtures and proporty rtttlngs Total Cost or valuation At 1 January 2024 1,252,030 26,276 1,278,306 At 31 December 2024 1,252,030 26,276 1,278,306 Depreciatlon and impairment At 1 January 2024 Depreciation charged in the year 107,140 5.010 13,253 6,084 120,393 11,094 At 31 December 2024 112,150 19,337 131,487 Carrylng amount At 31 December 2024 1,139,880 6,939 1,146,819 At 31 December 2023 1,144,890 13,023 1,157,913 Included in cost or valuation of land and buildings is freehold land of £250,000 (2022= £250,000). Freehold land and buildings were valued on an open market basis on 23 May 2012 by Tim Boffey Surveyors. The Trustees are not aware of any material change since this valuation. At 31 December 2023. had the revalued assets been carrted 8t historic cost less accumulated depreciation and accumulated impairment losses, their carrying amount would have been approximately £639.396 (2023.. £641.778). Pro deeds The Charity's properties are registered at the Land Registry in the name of the Charity. The land and title deeds contain approximately 3.215 square yards situated in Bromsgrove, Worcestershire together with charitable homes Nos. 35 to 45 New Road, being the properties comprised in a Deed Poll made by Thomas Vvhtte on the 20th April 1886. Historic and now redundant title deeds are retained by the Charity. 12 Debtors 2024 2023 Amounts falling due within one year: Trade debtors Other debtors Prepayments and accrued income 24 361 1,977 367 10,267 10,634 2,362 12-
THOMAS WHITE COTTAGE HOMES (2016) CHARITY NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 13 Current asset investments 2024 2023 Unlisted investments 225,442 218,132 Current asset investments consist of 242,855.167 M&G Charity Multi-Asset Fund shares purchased at a cost of £140,749. 14 Loans and overdrafts 2024 2023 other loans 77,297 76,447 Payable within one year Payable after one year 8,400 68,897 76,447 The long-term loan is an interest-free unsecured loan with The Almshouse Association, a registered charity no. 245668. 15 Creditors: amounts falling due within one year 2024 2023 Borrowings Trade creditors Accruals and defeed income 8,400 46 12,096 46 5,065 20,542 5,111 16 Credltors: amounts falling due after more than one year 2024 2023 Borrowings 88,897 76,447 13-
THOMAS WHITE COTTAGE HOMES (2016) CHARITY NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 17 Restricted funds The restricted funds of the charity comprise the unexpended balances of donations and grants held on trust subject to specific conditions by donors as to how they may be used. At 1 January 2024 Incoming resources Resources expended At31 December 2024 Andrew Harris Charitable Trust- gate restoration Bromsgrove Society- gate restoration 2,000 750 (2,000) (750) 2,750 (2,750) Previous year: At 1 January 2023 Incomlng resources Resources expended At31 December 2023 Baron Davenport- flat refurbishment LG Harris Trust - flat refurbishment John Bradley Will Trust - flat refijrbishment Grimley Trust - flat refurbishment Andrew Harris Charitable Trust- tlat refurbishment Rowlands Trust - double-glazing R&D Tumer Trust- double-glazing GTW Tumer- double-glazing 1,899 1.350 18.970 1,000 (1,899) (1,350) (18.970) (1,000) 4,000 (4,000) (2,500) (3,000) {2,000) 2,500 3,000 2,000 27,219 7.500 (34,719) All funds subject to a restricted application in the year were given for the purpose of restoring the charity site's histortc gates. All funds subject to a restricted application in the prior year were given for the purpose of improving the thermal efficiency of the flats by installing double glazed windows. 14-
THOMAS WHITE corrAGE HOMES (2016) CHARITY NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 18 Unrestricted funds - revaluation reserve These are unrestricted funds which are material to the Charity's activities. At 1 January 2024 Resources expended At31 December 2024 Revaluation reserve 503,112 {2,828) 500,484 Prevlous year: At 1 January 2023 Resources expended At31 December 2023 Revaluation resen4e 505,740 (2,628) 503,112 19 Unrestricted funds The unrestricted funds of the charity comprise the unexpended balances of donations and grants which are not subject to specific conditions by donors and grantors as to how they may be used. These include designated funds which have been set aside out of unrestricted funds by the trustees for specific purposes. At 1 January 2024 Incoming resources Resources expended Gains and losses At31 December 2024 General funds 939,442 94,505 (92,935} 7,310 948,322 Previous year: At 1 January 2023 Incoming resources Resources expended Gains and losses At31 December 2023 General fijnds 972.919 95,193 (132,337) 3,667 939,442 20 Analysls of net assets between funds General Revaluation fund fund Restricted funds Totsl Fund balances at 31 December 2024 are represented by- Tangible assets Current assetsl(liabilities) Long term liabilities 646,335 370.884 (68,897) 500,484 1,146,819 370,884 (88,897) 948,322 500,484 1,448.806 15-
THOMAS WHITE COTTAGE HOMES (2016) CHARITY NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 21 Related party transactions There were no disclosable related party transactions during the year (2023 - none). 16-