Charity registratiL number. 1172097 Berry Pomeroy CIO Annual Report and Financial staternts for the Year Ended 31 DecAnber 2024
Berry Pomeroy CIO Colltents Reftrence 8nd Administrative Details Truste, Report 2to5 Statement of Truste, Responsibiliti¢s Independent Examin&s Report ststement of Financial Aetiviti&8 . 8t09 Balance Sheet io Cash Flow Statement Notes to the Financial Statements 12to23
Beny Pomeroy CIO Reference and Administrative Detai Cbairman R M Flude R M FIude N SbJL S Mccrfadie S Mcthwd (appointal 9 Jtnuary 2025) L S Richard$4m {apwJinted 9 July 2024) Prfnelpal Offite 26- 28 Comptffi Stre<£ BN214EN Investment Managers Charks Stanley and Co Ltd. 6- 10 Mount Ephraim RL*d. Tunbridge Wdls KenL ME19 41Q 1172097 Cbgrity R¢gistrntion Number Banker5 NatWes¢ BN2131 Ind¢p¢ndeDt Examiner ManninWa)S 39 Ffjgh Street Battle TN33 OEE Page I
Berry Pomeroy CIO Trustees, Report The trustees prcscnt th¢ ann1 rewt tO8ethff with the financial statanfflts of the tharity fv the year ended 31 Dettmber 2024. Objectlvos and aedrfll Objects t7nddms The charitys objects art to mainlain a home for elduly peopl& It is run with a view to avoidin8 any deficit of income over expcnditure8nd to use any surp19 funds to bcncfit the home. The policies adopted in furtherance of these objects arc the ¢(mtinued nmnin8 of Berry Ptyneroy a home for elderly pe4)ple and thcre h&s begn no change in thes¢ during the y¢ar. The Trustees have paid due AtttIC to 8uidan¢e issued by the Charity CLwnmission in deeidin8 tha¢ artivities the Charity thtyjld undertak To continue to operate a well establish hcane with ¢¢I]ent reputati(. objec11 slratezles and Hi8h quality health and social we to beneficiari¢s- providin8 excellent cireto residents: Ample stsffing levels have been maintsined to attend to pttsonal care ne•Js, with regul•r training to increase awareness and ensure that the hi8h¢st quality of re is bcin8 delivere4 Long standtn8 care slaff ensure that emotional and s1&] support necds are met as well as Fyoviding Aimulatin8 and cngaging activities and events. The appointment of ? Deputy Manager strengthed the m8na8emait function. Residentsl fees The Charity has had to implemeJrt a substantial fee in(xeases due to successive ine85¢S to the National Living Wage. The Trustees have felt significandy reassurnl ty thc resuves policy and the investment of the gift fr(xn the Eastbournc Free Churth Women's Council ¢harity when 1¢ Closed. Bury Pomeroy has continued to support residents funded by the IcKal authority. Neverthelc5s Trustees need to l(x)k ¢losely at the future iwiness model and the issue of 5U5tainability. 0¢PanCY has improved vastly following a ycar of our respite facility betng available following a period of clLThwe due to thc pandemio The increasal respite h&% a signifi¢ impact on permanent residen. The home b¢n¢fitd trn several property improvement& N•rnely the ground tILw redecfftti and replacement of sLYne fire dcw& and L¥rpets in cThnmunaJ ar P¥blk beneflt The trustees confirni that they have ajnplied with the r4uirements of Secti 4 of the Charities Act 2011 ¢0 have due regard to the publi¢ Imefit 8uidance publishol by the CharityC(Thmi$sik for England and Wales. Th¢ home ¢tinUeS to provide a level of ¢are Hrll alM)ve the ¢ommercial stanthrd and in particular the quality and number of staff significantly excccds th8t fwid in n(Trcharitsble homes. A numbcr of I] authority fimded residents benefit even more significantly. Truses ensure that self-fimding residents still receive charitabl¢ benefits and do not subside other residt Page 2
. Bery Pomeroy CIO Trustees, Report Finaneial review Poliq on reserves Short tem] rescrve5 are held whith are in the regith of 3 Mth5 wating o)sts. Financial policies The Charity has adopted three main financial polici&8 cover Investmenl and Financial Govemance. ThC are reviewtd annualty. Thc reserves and investment policies LMwr¢ the availability of adequate fimds to protect the tharity frLMn sh(rt tcrni fluctuati(m& Reserves and Investsnents Longer tenn reserves are in the (xre of an Inve5trnort Manaw app)int&l by the Trustees in 2018. The obie£tive being to secure the long temi fithwe of the home for th¢ benefit of tUre r£sAden& Thc Investrnt policy dire¥%s a low to medlum risk level and a balan(xd ptttfolio. An ahicai investment apprcoth should be adopted as far as is possible. Prlncipalftinthng sources The tharitys principl financial asscts are the prq)thie4 bank bance& cath and investmfflL Investmenffpoliq and objeclh The investment policy directs a low to medium risk levcl and a hlanced p(thlio. An investment approach should be adopted as far as is p¢ble. Page 3
Berry Pomeroy CIO Trustees, Report Struetureg governanee and mADAgem¢Dt Nalure olgofvYrnln8doeume The Eastboume Free Churth Women's C(1ClI W Pc#nerty HLYne for the Eldwfy tywates under a Trurt Deed dated 20 June 1951. On 9th Marth 2017 the Tn&xs of Berry P(Mneroy made the de¢isicffi to apply to becryne Charitable ncorporated organisati {CIO) and adopted a ftyjndati( governing documult followin8 Closely the Charity Commission model. It is rcgislered with the Charity Commission undu charity number 1172097. On 24th Marth 2017 the Trusteu of E&stLxJwne Frce Churth Women'$ C<Mm¢il passed a spccial resolution to bring an end the legal connections with Bury PerOY (an assctiatoj tharity r¢8iStertsl with the Charity Commtssiiiners undcr the reference 251855) and thereftye the Trust Deed of Bttry Pomeroy H(Knc for Elderly People. On 30th June 2017 'Berry Pomttty register with the Charity C(*nmissioners undw the reftrence 251855 ceased operations. All activities and assets were transftrrtsa to 'Brfry PcAncroy H1¢ fc¢ the Elderw (a new ¢haritsble InrpOratl organisatiL) re8iStttd with Charity CommissiLmUS under the reference 1172097. Despite the modernised struL#ure of the Charity, the ethi and aspirati(w of the Eastb Free Churth Women's Council {EFCWC) have been carria through. One of the (ri8inaI Trustees remain wvin& A significant donati( from the EFCWC has enabled the Charity to adw a Stre finAncial footin8 and to make significant improvements to the h(Knc cach year. RecThllmenl and appolnlin¢fttoflrMsfees The initial Tntee5 were the tr$¢$ of the wlier charity. The Truste¢s are all individuals and meet on a quarterly basis during the year to discuss the pufornianL% of the Chvity •nd make thi$icm$ as ippropri4t4 This year Trusttts have met regularly and visit the h¢ re8uJarly. Indudlon andlrnlnlnzoflnlees New membcrs arc given inducti(w) material includin8 the govnIng d0men( accounts and preVIS meetin8 minut4 as well as Charity Comrnission 8uidancL Page 4
Berry Pomeroy CIO Tnisteesl Report Major rlsAs andnMnasenKf ofthose rlsk General risk The Truste have considered the major risks to thc charity is exposed and have rcvicwed th05e risks and established systems and procedures to manage them. The Trustees review the risk management process each year and maintain a risk register %ICh is regularly reviewed. Throughout 2024 the focus has been almost exclusively relat to finance and securing new residents. Financlal rlsk The reserves policy protects the charity against these risks and this c4mtinues to have been tcstcd thro¥h 2024. Nevertheless a five year tUre has remained financially se£ur FlnAnelil In$trum¢nts objec111 andpolleles The charity's activitjes expose it to a numbtr of financial risks including cr¢dit risK flow rid( and liquidity risk The use of financial derivatives is governed by the charity's policies approved by the board of trustrts..whith provide writtffl principles on the use of financial dcrivatives to mana8e these risk& The tharity does not use derivative financial instruments for speculative purposes. Cashflow rtsk The charitys activities expose it primarily to the financial risks o neeiling to maintsin a hi8h level of occupancy and it is rtiCUlarlY vunerable to increases in the nati(&1 livin8 wage. The reserves and investments policies prot¢ the charity against thtse risks and ensure the availabilty of adequatc funds to protect the charity from short t¢rni fluctuations. Credll rlsk The charity's prin¢ip81 financial assets are bank balances And cash, trade and other rK¢ivables, and investments. During the year the charity has engaged an investment manager to inv&st reserves on & low to medium risk bASi& This is to ensure the charity is best positioned ¢0 function well into the lon8ex terni fvtur Llquldlty rtsk In order to maintain liquidiry to ensure that sufficient funds are available for ongoin8 operations and fvture developments. the charity uses a mixture of lon8-tcmi and short-temi financial strategie& Page S
Berry Pomeroy CIO Statement of Trustees, Ruponsibilities Th¢ trustees are r&gxinsibl¢ f preparing the trustvg rqxlt and the financial stalNnfflts in accordance with the United Kingd( AcLKHinting Standard% (Uni1 Kingd(Tr Genttally ALxwd Acc4)unting Practice) and applicable law and rcgulaticn& The law applicable to charities rquirts the tee$ to prepare financial statements for eath financial year which give a true and fair view of the state of affairs of the Charity and of the incoming resources and applicati of resources of the charity for that peri(Kl. In preparing these financial statement& the trustees are reqUIrj to: select suitable accfjunting wli¢ies andth apply than (¥Msistently. obs•ve the meth(xls and prin¢iplLs in the Charitis SORP, make judgements and estimat&8 that are reasonable and pruthL state whaher appIlb]e accounting sLqndords have LYeTh followr4 suiy&t to any matetial dcparturcs disclosed and explainal in.the financial statanent4 and prepare the financial 5thtants on the going c(Lrn basis unless it is inappropriate to presume that the charity will ¢tinue in sIness. The trustees are responsible ts keeping prcper accounting reccffds that disc105e with reasrnable arxuracy at any time the financi81 positirn of the charity and enable them to fflsure that the financlaj statesncnts comply with the Charitits ALt 2011. the applicable Charities (Acc(wnts and Reports) Regulati(4 and the provisions of the constituti¢m. The trusteLs are also r{S]ble tr safrguardin8 the as5cts of the charity and hence for taking reasonable steps for the weVentiC and detection of fraud and other irregularitie Approved by the trustets of the charity 104a&and signd its bd]alf by: R M Flude Chainnan and Trustee Page 6
Berry Pomeroy CIO Independent Examiner's Report to the trustees of Berry Pomeroy CIO I report to the charity trustees on my examination of the acunts of the charity for th¢ year end¢d 31 DemE¢r 2024 which are set out on pagcs 8 to 23. Respectlve responsibilities of trust¢¢$ 8nd examiner As the charity's trustees of Berry Pomeroy CIO you are responsible for the prep#ration of th¢ accounts in accordan with the requiremfflts of the Charities Act 2011 ('the Act.). I report in respect of my examinati( of the Berry Pomeroy Cl(Ys accounts carried out undtr stIOn 145 of the 2011 Act and in wing out my examination I have followed all the applicable DireLtions given by th¢ Charity Commission under sertion 145(5)(b) of the AL£ ludependent ex2min¢r'$ stat¢meDt sin Berry Pomcroy CI(Ys gro&s income exceeded £250,0(Kl yow examiner must be a member of a body listed in section 145 of the 2011 Act. I confimi that 18m qualified to undertake the examination because l am a manber of Manningt{Ls Charterd AoUntants, which is one of the listed bodies. I have completed my vAaminati(n. I confirnj that no material matters have rA¥ne to my attention in nnectIOn with the ex8minatim giving me cause to believe that in any material respeLt' aLrounting rKLrds were nrt kcpt in respect of Berry Pomeroy CIO as required by section 130 of the Act: or 2. the accounts do not accord with those records: or 3. the accounts do not comply with the accounting requirements concerning the form and content of accounts set out in the Chariti&8 (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a 'true and fair view Nthich is not & matter Lx)nsidered as part of An independent examinaticn. I have no concuns and have come across no er matters in connecti¢)n with the examinatity) to lch attenti should be drawn in this r¢port in order to enable a proper understanding of the accounts to be reatheiL Mrs R Walsh FCCA Manningtons Charternl Accountants 39 8h Street Battle East Su&qex TN33 OEE Page 7
Berry Pomeroy CIO Statement of Financial Activities for the Year Ended 31 December 2024 Total 2024 Unrestricted Restritted Note Ineome And Endowments from: Donations and legacies Charitsble activiti Investment incme 280 1,067,985 14,494 280 1,067,985 14,494 Total Ineome 1,08 Expenditure on: Raising funds Charitsble activities (4.308) 914,19 (4,308) 938.469 Total EXpditUre Gainl(loss) on investments 918,504 942,77 29,241 Net incomel(expenditure) Gross transftts between funds 193.496 (24,273) 9.60 169,223 Net movement in fimds 203.103 (33.880) 169.223 R¢conciliation of fuDds Totsl fvnds brought fonvard Total fimds Carried forward 300,260 782,052 16 684,895 266.380 951,275 The n(rtcs on pages 12 to 23 forn? an integrnl part of these financial statemenL Page 8
Berry Pomeroy CIO Statement of Finantial Activities for the Year Ended 31 December 2024 Totsl 2023 Unrutricted Restricted Tncome and Endowments from: Donations and legacie5 Charitable activities Investsnent incom¢ 1,150 788.498 14,657 1,150 788,498 14.657 Total Income 804J05 Expenditure ou: Raising funds Charitable activities {22 860,14 (2,296) 883 563 23.418 T(rtal EXdiLure GainsJ105se5 on invesknent assets 861441 18.139 23.418 885,859) 18.139 Net exwditure Gross transfcrs betwe funds (39,997) (23.418) 19.T19 (63.415) Net movement in fvnds (20218) (43.19T) (63.415) RetonellIati of funds Total fimds transfcTrcd from charity Total fimds (arriul fcThTrrd 343.457 845.467 16 481.792 300.260 782.052 All of the tharitys activities dttive from continuing 4)craticrts during the ab)v¢ wiod& The fvnds l)reakdown foT 2022 and 2023 ar¢ shopm in note 16. The nc*es pages 12 to 23 fm an intryral part of these financial statanenl& Page 9
Berry Pomeroy CIO (Registration number. 1172097) Balance Sheet as at 31 December 2024 2024 2023 Note Flxed gwts Tangible assets InveStMts 324,227 455.030 310.431 421,138 12 779.257 731.569 Current assets Debtors Cash at bank and in hand 13 14 14.264 180,124 42.935 62,402 194.388 105.337 Creditorn Amounts falling due within one year Net eiirreDt 9s3¢ts 15 22.370 54.854 172.018 50,483 N¢t assets 951.275 782,052 FDnds of tbe charfty. Restricted income fuDds Restrirted funds 266,380 300,260 Unrestrlcted Intowe fnDds Unrestricted fimds 684,895 Total fuDds 16 951,275 782,052 The financial statements on pages 8 to 23 apwovul by the triistrffj and authori*l for issue on . and si8ned on their Lrhalf by: 44 R M Flude Chaimw] and TnLStee The notas pages 12 to 23 fomi an inte part of these financial statcmcnt& Pagc 10
Berry Pomeroy CIO Cash Flow Ststement for the Year Ended 31 December 2024 2024 Not¢ Casb flows from op¢rating aetlvitie5 Net cash incomel(expenditure) 169.223 (63,415) Adjuslments to cash flows from noD•cash items Depreciation Investm¢nt income Revaluation of irtvestments 24,273 (14,494) 19,702) 159,300 23.417 (14,65T) 1.562 (53,093) Working capltal adjustmettts Dee8$Cl{lncr¢ase) in debtors (DecreAseyincrease in creditors 13 15 28,671 32,484 (15,133) 1348 Net cash flows from operating activities Cash flows frnm investing activiti£s Purchase of tangible fixed assets Purchase of investments Sale of invesknents and L75h awaitin8 inv£stment Tncome from dividends 155487 (38,069) {20.099) 5.909 14,494 (19,779) (70,453) 144,725 14,657 12 Net cwh flows from. iDve5ting activities Net increase in cash and cash equivalents Cash and cash equivalents at l January Cash and cash equivalents at 31 DeLYmirr 37.765 117.722 3,272 62,402 59.J30 All of the cash flows are derived from ntinUIng operations during the abjve two period& The notes on pages 12 to 23 forni an integrni part of th&se financial ststemen Pa8ell
Berry Pomeroy CIO Notes to the Flnancial Statements for the Year Ended 31 December 2024 l Aceoundng polleles Statement of compllanee The financial stst¢rnents have been prepar&1 in accordance with Accounting and Reporting by Charitias: Ststemcnt of Recommended Practice applicable to tharities preparin8 their accounts in accordance with the Financial Reporting Standard appIlble in the UK and Republi¢ of Ireland (FRS 102) (cfftctive l January 2015) - (Charities SORP (FRS 102)), the Financial Reportin8 Standard applicable in the UK llnd Republic of Ireland (FRS 102) and the Charities Ac¢ 2011. B8sls of preparatlon Berry P(Th¢roy CIO mccts the d¢finition of a public l)enefit entlty under FRS 102. Assets and liabilities are initially recognised at histori1 5t or transactim value unless otherwise ststed in the relevant accounting poliw notes. Golng C(¢¢ The trustees eonslder that th¢re are no material uncertainties about the charitys ability to continu¢ as a going Ineome aDd endone Voluntary income including donations, 8ift4 legacies and grants that provide corc fimdtng or are of a general nature is recognised when the charity h&s Mlitlement to the income, it is probable that the income will be received and the amount can be measured wlth sufficient reliability. Donadons andlegt7cla Donations and lega¢ies are recognised on a receivable bRsis when receipt is probable and the amount can be reliably mwured. Jnveslmenl Income Investment income comprises of bank interest du Charf¢ableacllvlll All income is aceounted for as 8ros4 before deducting any relatsa fees or costs. Expendltsre All expenditure is recognised once there is a le841 or construrtive obligation to that expenditur4 it 15 probable settlement is required and the amount can be measured reliably. All costs are allocated to the applicable expenditure heading that aggreg8* similar costs to that ¢ate80ry. Whcrc cc6ts cannot be directly attri1)Ut to particular headings they have been allocated on a basis consistent with the use of reSoue with central staff costs allocated on the basis of tlme spenl and depreciati charges allOted on the portion. of the asset's us& Other support costs are 811ocated based on the spread of staff costs. Page 12
Berry Pomeroy CIO Notes to the FinaDclal Statements for the Year Ended 31 December 2024 Raifinglunds These are Costs inojrroj in atlraL%ing voluntary inc4)m4 the management of inveslmerAts and those incurred in trading activities that raise funds. Chanliable acllvllla Charitable expcnditure comprisL8 c03ts inred by the tharity in the delivery of its activities and services for its beneficiarie5. It includes both costs that can Ix all(xated direLXly to such adivitie5 and those casts of an indirect Support Costs Support costs include central fvnctions and have been all(Kated to activity LXJSt categories on a Lwis crmsistent with the use of resourS. for exampl< allocatin8 pr¢)Pffj Ltsts by floor ar¢4 or w capit& staff ¢¥ts by the time spent and other costs iyy their usage. Governanee eosts These include the Cts attributsble to the thtrity's compliance with constituti(¥1 and statuw requiremth including audiL Strategic rnana8emt and tru#e¢s's medin8s and reimLxwseAI expthses. Taxatlon The charity is clS1dered to P$ the tests s¢t in P•rnwh I Schedule 6 of th¢ Finance Act 2010 therefi)re 1¢ me<ts the definition of a charitsble c(ffnpany tr UK corporatiThb tsx purposes. Acurdin8ly, the charity is PLrtenti8lly exempt from t8xati(ffi in respect of income or (apitsi gains reixived within categories covered by Chapter 3 P#rt I I of the corporati Tax Act 2010 or Section 256 of th¢ Taxati of Chargeable Gains Act 1991 to th¢ extent that such income or gain5 arc applied exclusively to charitable purposes. Tanglbl¢ flx¢d asjtts Individual fixed assets costin8 £300.00 or mc¢e are initialty rK(Yded at rt Ics5 any subsequent aumUlAted depreeiati(n and subsequent acaunulatal impaimK¥rt l¢%s. The 8ain or l<)5S arising on the disp(Ml of an asset is dduminal as the difftrence th¢ sAl¢ proceed and the carrying value of th¢ * and 15 reco8nised in net inc4xnel(cxpmditure) fw theyear. DepreclatloD and amortkndon Depre¢iatiM 1$ provided on tangiblc fixed assets so as to Mrite off the c4)st or valuati(m. less any estimated residual valu< over their ¢xpethd usefvl eciffl(xni¢ lift as follows: Aet elAss Freehold propttry Furnittwe and contents Computsr equipment Depredatlon method aud rate 2% Strai¥it line I(PA reducing bAlance 33.33% strai8ht line Page 13
Berry Pomeroy CIO Notes to the Financial Statements for the Year Ended 31 December 2024 Fixed asset Investments Fixed asset inve5tJnenL% othtr than programme relata investhient& are included at marketvalue at the balance sheet date. Realised gains and losses on investments are calculated as the difftrenc¢ between sales proceeds and thetr rnarkd value at the start of the year, or thelr subsequent cost, and are Charg or credited to the Statement of Financi Activiti&s in the period of diswNI. Unrealised gains and l(tsses represent the movement in market values during the year and are edited or chargcd to the stateMel of Financial Activitie5 based on the market value at the year end. Trade debtors Trade debtors are amounts due from customers for merchandise sold or services perfonned in the ordinary course of busines5. Trade debtors are recognised initially at the transaction price. A provision for the impairnient of is established when thtte is objective evidence that the will not be able to collecs all amounts due according to the original tern of thc receivables. Cash and cash equlvaltnts Cash and cash equivalents comprise cash on hand and call dcposits, and (ther sht-t highly liquid investments that are readily convertibl¢ to a known amount of cash and are subject to an insi8nificant risk of ch8nge in value. Trade treditors Trade creditor5 are obligations to pay for goods or services that have been acquird in the ordinary course of bu5in¢ss from supplier& Accounts payable are classified as current liabilities if the does not have an unconditional ri8hi at the end of the reporting perio4 to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at Iwt twelve Months after the reporting dat< they are prted as non-currcnt liabilitie& Trade creditors are recognised initially at the transaction price. BorrowlDg5 Interest-bearing borrown8s are initially rOrded at fair valu< net of transacti(m Costs. Intcrest-bearing Ix)rrowings are subsequently Carri at amortised c05L with the difference between the proceeds, net of transaction costs. and the amount due on redemption betng reewised as a charge to the Statement of Financial Activities over the peritjd of the relevant IKrning. Interest eXpse is reeognised the basis of the effective interest mrthod and is Includ in interest payable and similar charge& B(Yrowings arc classified as current liabilities unless the Charity has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date. Page 14
Berry Pomeroy CIO Notes to the Financial Ststements for the Year Ended 31 December 2024 Fund slrneture Unrestrida income fvnds arc general fimds that arc available for use at the trustees's discretic in furtherance of the objectives of the charity. Restricted income funds are those d(ated for use in a particular area or fw specific purposes. the use of thich is restrictal to that area or purpos Financial instruments Cl4ssrficalion Financial Bssets and financial liabilities are recognised when the charity becomes a party to the contractual provisions of the instruML Financial liabilities and equity instruments are ¢lassified ac¢4xding to the substance of the contractual arranganfflts entered into. An equity instrument is any o)ntrad that evidences a residual intcrest in the assrts of the charity after deducting all of its liabilities, Recoghilion aNdnaUrÈ All financial assets and liabilities are initially measured at transac11( price (including transaction costs), except for those financial assets classified as at fair value through profit or 104 which are initialty measured at fair value (whith is normally the transaction price excluding transaction c05ts). unless the arrangement constitutes a financing transaction. If an arrangement Constitutes a finan¢ing transaction, the financial et or financial liability is measured at the present value of the future panents discounted at a markd rdte of interest fw a similar debt instruML Financial g&sets and liabiliti£s ar¢ (Mly offtet in the statement of financial position and only en there exists a legally enforceable right to set off the recognised amounts and the charity intends either to srttle on a net basi or to realise the asset and settle the liability simultaneously. Finanaal assets are derecognised when and only when a) the contractual rights to the cash flow5 from the financial asset expire or are settled, b) the charity transfers to another paty substantially all of the Tisks and rewards of 0ershiP of the financial asset, or ¢) the charity. despite having retained s(Mn4 but not all. significant risks and rewards of Ownershi has transfwred control of the asset to another party. Financial liabilities are derecognised only en the obligation speclfied in the c4)ntraLX is dischargtht eanc¢lled or expires. Falr value n&fUree The bt evidence of fair value is a quoted price for an identiLzi asset in an acuve markeL When quoted prices are unavailabl4 the price of a recent tranSactiC for an identiol asset provides evidence of fair value as long as there has not been a significant change in economic circumstances or a signifilt lapse of time since the transaction took place. If the mark& is not active and recent tr8nsac¢t(ms of an identi(al asset on their own are not a good estimate of ir valu4 the fair value is estimated by using a valuation techniq Pag¢ 15
Berry Pomeroy CIO Notes to the Flnancial Statements for the Year Ended 31 December 2024 2 Ineome from donations and legacies Unrestricted Dds Gener41 Total 2024 Total 2023 Donations and legacies. Donations from individuals 280 280 1.150 280 280 1,150 3 Ineome from cbarftsble actItIeS Unrestrltted fuDd$ Genernl Total 2024 Total 2023 Residental home 1.067.985 1.067 985 788,498 4 IDvestment income Unrestricted fnnds General Total 2024 T(rtal 2023 Income from dividends: Dividends receivable from other listed investments 14.494 14,657 Page 16
Berry Pomeroy CIO Notes to the Financial Statements for the Year Ended 31 December 2024 S Expenditure on ¢barltaNe activities Unrestricted funds Cenergl Total funds Dds CharitaL4e activities tkpre¢iatiLJL amlyt1sati and oth¥ similar 898,030 898.030 242TJ 24.273 14,846 iJ20 Allocated suppcrt CCLsts Governance costs 14.846 1,320 Total for 2024 914.196 Total for 2023 860.145 23.418 883,563 6 Analysis of governance Vdnd support ¢ts Governance costs Unrestiieted funds Cen¢rg1 Totsl Total Independent examiner fees Examina¢1 of the financial statements lJ20 1.320 1.200 7 Net IDcominyJolltgolng resollrcts Net Incoming/{tgoItt resources ts theyear includ¢ 2024 Depreciati of fixed assets 24.273 23.418 8 Trustees remunernilon aAd expenses No trustees. nix any pers(fflS LK*e£l¢d Ivith have re1Ved any remuneraticm from the charity duringthe year. Pagc 17
Berry Pomeroy CIO Notes to the Financial Statements for the Year Ended 31 December 2024 9 Slaff ¢(8ts The a88re8ate payroll costs wrre as follows: The monthly average numbff of persons (including rnani8emait tam) employed by the tharity during the year eXpr&d as full time equivalents was as follow5: 2024 2023 En808eAI charitabl¢ activities ETh8ag marta8eArt and administrnli( 31 29 34 32 The iotsl anploytt benefits of the key manageJnatt p#sn of the charityrre £128.221 {2023- £95.089). 10 T•xdoD The charity is 8 re8iStered eharity and is thtteftr¢ ¢x¢mpt L¥Kporati(xi tax. 11 Tnglbk flxed assets Land and bulldlDp FurDltllre and equlpm¢nt ColAPUter equlpmellt Total Cost At l Jary 2024 Additi(% 492,681 198.3T2 691,237 At 31 December 2024 528,784 200,338 184 729.306 Depreelatlon At l January 2024 Chlryc for theyear 184.242 196.380 184 380,806 At 31 Dec¢mber 2024 198031 184 N¢t book value At 31 De<¢mber 2024 324 227 31 December 2023 308.439 310.431 Included within the net book value of land and buildin above is £321.921 (2023- £308.440) in respe¢1 of freehold land and Iwildin and £Nil (2023- £Nil) in rtspec¢ of leasehold5. Page 18
Beny Pomeroy CIO Not£% to the Financial Statements for the Year Ended 31 December 2024 12 Flxed asset IDV¢Stm¢nts 2024 lnveSknts 455,030 421.138 Other investments Listed Investments Cost or Valuatio At l January 2024 Revaluation Additions Disposals 411599 29.241 20.099 411.599 29.241 20,099 At 31 Deixnber 2024 Cash awaiting inv¢stmcnt 440.977 14,053 440.9TI 14,053 Net b(M)k value At 31 Decanber 2024 455 030 455,030 At 31 December 2023 421 138 421138 The eost of the inv&8tments at 31.12.24 £387.978 (2023: £383 J27J. All inv¢slments are held ffl the St[ exchang Pa8e 19
Berry Pomeroy CIO Notes to the Financial Statements for the Year Ended 31 December 2024 13 Debtors 2024 2023 Trade debtors PTepancnts 10,354 35,466 7,469 41935 14 Cuh and eash eqafvAleDts 2024 Cash on hd Cash at iwnk 2.844 177,280 2.254 60.148 15 Credltors: #mounts falllDg due wlthln one ye•r 2014 Tra& ereditors Other taxati and social Surity Other credikns A¢ualS 9.359 31,862 9,146 2.174 3.146 Page 20
Berry Pomeroy CIO Notes to the Finaneial Statements for the Year EDded 31 December 2024 16 Funds BglAne¢ at 31 Bglante at Otber l January IneomlDg Resourc¢s reeognised December 2024 resources ¢xpeDded Transfers gainsloosses) 2024 Unrestrleted fvnds Genernl UnrestriLted fimd 481,792 1.082.759 (918.504) 9.607 29,241 684.895 Rertrleted funds Restricted fid Tot*1 funds 29,241 951275 Balane¢ at Other 31 Ineomlng Resources recognlsed D•eember resourees expended Trgnsfers galllsloosses) 2023 Bglance at I January 2023 . UDreitrlcled funds General Unrastricted fvnd 502,010 804,305 (862,441) 19.779 18.139 481.792 Restrleted Restricted fund 343 457 300 260 Total funds 845 467 804 305 885 859 782 052 The specific purposes for the fimds are Ix applia are as follows." Restricted fimds comprise of a donati from the Eastbourne Free Women's churth and arn for the maint¢nanLY of buildin8s and property. Page21
Berry Pomeroy CIO Notes to the Financial Statements for the Year Ended 31 December 2024 17 Analysls of net assets betw¢¢n funds Unrestrl¢ted nds General Total fiinds at 31 Decemb¢r 2024 Restrleted funds Tangible fixed assets Fixed asset invtstmcnts Current assets Current liabtlities 57,847 455,030 194,388 266,380 324,227 455,030 194,388 22.370 Totsl net assets 684 895 266 380 951275 Unrestrleted funds General TotAI fvnds at 31 December 2023 RtrIcted nds Tangible fixed assets Fixed asset investments Current ass&s Current liabilities 19,779 421.138 95,729 290.652 310.431 421,138 105,337 9.608 Total net assets 481792 782 052 Page 22
Berry Pomeroy CIO Notes to the Financial Statements for the Year Ended 31 December 2024 18 Analysls of llet funds At31 De¢¢mb¢r 2024 At l JanuAry Fln2ntlng eash 2024 Cash at bank and in hand 61402 117,722 180.124 Net debt 117,722 180.124 At31 Deeember At l January 2023 naueing easb Cash at bAnk and in hand 59.130 3,272 Net debt 3272 62.402 Page 23