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 De￿mber 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 De￿rnber 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
Dro11￿iCh
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 re￿ived.
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-cu￿ent 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 defe￿ed 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-