REGISTERED CHARITY NUMBER:1172357
REPORT OFTHE TRUSTEES AND
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024
FOR
PATE HOUSE CHARITY
BK Plus Limited
6 Manor Park 8uslness Centre
Mackenzie Way
Chellenham
Glouce51ershire
GL519fA

PATE HOUSE CHARITY
CONTENTS OFTHE FINANCIAL STATEMENTS
FOR THEYEAR ENDED 31 MARCH 2024
Page
Reference and Admln151ratSve Delalls
Report ol the Trustees
Indppendent Examlnerf5 Rpporl
Stalemenl vf Financlal A¢tlvilies
Statement of Financial Position
Notès lo thè Flnancial Slatemenls
8 10 13

PATE HOUSE CHARbTY
REFERENCE AND ADMINISTRATIVE DEfAILS
FOR THE YEAR ENDED 31 MARCH 2024
TrUSTEES
Mrs C Price
Mrs R Rowland
D Lawrence
J A Co% (resigned 23.3.241
G N Gregory
N C Furley
Rmay
J B Buchanan
Mrs M Jacko
R B Rimell
Mrs M J Cowie
N Hosken (appo￿nted 26.10.23)
PRINCIPAL ADDRESS
16 Albion Slrèel
Chellonham
Gloucestershire
GL52 2LP
REGISTERED CHARITY NUMBER 1172357
INDEPENDENT EXAMINER
BK Plus Limited
6 Manor Park Business Centre
Mackenzie Way
Chellenham
Gloucestershire
GL519TX
Page I

PATE HOUSE CHARITY
REPORT OFTHETRUSTEES
FOR THE YEAR ENDED 31 MARCH 2024
The Iruslees present their report with the financial slalemen15 01 the charity lor the year ended
31 March 2024. Thè Iruslees have adopted the provisions of Accounting and Reporting by Charities..
Slalemenl ol Recommendpd Practice applicable lo charities preparing their accounts in accordance with
the Financial Reporting Standard applicable in the UK and Republic ol Ireland IFRS 1021 {elfeclive l January
2ll191.
OBJECTIVES AND ACTivinES
Objectives and aims
The Objects of the charity, as registered wilh the Charity Commission, are the provision of almshouses lor
poor persons ol good character who are not less than 60 years ol age or are infirm, are resident or were
bcrn In the Borough ol Chellenham provided that preference shall be given lo applicants qualified as
aforesaid who are sinyle, widows or widowers. 11, on the occasion ot a vacancy, there is no suitable
3pplicanl who qualifies as aloresaid, the trustees may appoint as a resident a person Dtherwise duly
qualilied who is resident or was born in the parish Df Leigh in the counly of GIDucesl@rshire.
The charilW5 Aim5 are..
lo provide a quality and professional servlce lor Ihe well being of the residents of Pale House.
Chellenham.,
to ensure the labric and essential lixlures and fillings are maintained al an aboyo good standard as
laid down by interested bodie5 i.e. DSS and the Almshouse Association.,
to pay due cognisance lo the regulations laid dawn by the AlmshoLb5e Associalian and other
inlere51ed bodies in the care lor the elderly.,
to explore opporlunilies and lake advantage ol silLJalions which may lead lo the expansion of Ihe
current accommodation under the care of the Trustees and which wlll be wilhln the Trust's financial
slalus.
Public benefit
In planning the Charity's activities thè Iruslees kept in mind the Charity Commission's guidance on public
benefit. The focus Df the Charity's activities during the period, which explains the delivery by the Charity ol
public benetil, is set out below under 'Achievemenl and performance, and above under 'Objectives and
aims,.
ACHIEVEMENT AND PERFORMANCE
Charitable aclivilies
This report CDvers the period from JLEne 2023 to June 2024. During this time there have bèen changes in
residents and Iruslees, and progress in the running and the planned upkeep ol the House. Sadly, th& AGM
15 not taklng place in Oxford this year. However it will lake place during Jlfly 2024 in our almshouse in
Albion Street, in a significant year since the Charity's loundalion.
Most ol the Residents are in sound health and are often supportive ol each other. Our eldest residènt Pèm
Higgins has had some Irealmenl in hospital bul has returned lo the fold recently. John Maisey has left us
while Maria CoDk and David Cullis have joined u5 so that all the apartmen15 are occupied which is
important financially IResidet)Is maintenance contribution has not been increased this yparl. Trustees have
commenced an annual inspection of the apartments and, In an effort to Improve the smooth running ol the
Hotjse, the Residenls Handbook has bpen updated. A fire drill was held in December revealing the need for
a revis&d assembly point in Albion Street and a fire risk assessment look place in May.
FINANCIAL REVIEW
Financlal position
The Charills finances are sufficiently sound enough lor Trustees lo approve some major refurbishment.
The loan From the Almshouse Association is comfortably reducing and Trustees have mel Ihe £ompllance
regulations al Barclay5 Bank. Thanks are due lo Purvi Shah our clerk lor her extensive overview of our
aclivilies. and lo Roger Dowries IAndorran. now BK Plus) lor examining the accounts.
Pagè 2

PATE HOUSE CHARITY
REPORT OFTHE TRUSTEES
FOR THE YEAR ENDED 31 MARCH 202
FINANCIAL REVIEW
Reserves policy
The unreslricled reserves are available for the day tts day running for the Charity,
The overall policy is lo be in a position lo have sufficient reserves for new builds, acquisilions or joint
ventures and this is continuously explored. The presenl levels of reserves are not sufficient for Ihe
Iruslees to progress with any ol the proposals put forward lo dale, It is the truslee5' intention lo build the
charity's reserves lo enable them lo be ulilised ar this purposè.
FUTURE PLANS
Following a full loft inspection Truslees have agreed a thorough replacement of the insulation in both the
fr¢nl and rear blocks and thanks are due lo Bruce Buchanan and lo Robert Rimell lor overseeing this
eneryy saving projecl. Robert has also usefully made contact and allended Almshouse Association
meetings.
Quarterly Trustee meetings are now held in the Garden Room Iconservaloryl and our thanks lo Claire Price
and Rosemary Rowland for exploring and sourcing the necessary replacement furnilLSre, which has been
kindly donated by Bruce Buchanan and Pate's Grammar School.
Meanwhile Maggie Cowie, assislecl by Nigel H05ken. has been tidying the gardens partly in readiness lor a
Tea Party Ctrn July 12th lo celebrate 450 years since Richard Pale founded a 'hospilal' lalmshousel in the
High Sireel in Chellenham. Maggie is giving us the lead and we look forward lo a convivial allernoon in the
courtyard, trustees joining wilh residènts and invited guests lo ¢elebrale this notable anniversary.
We conclude by expressing sppcial thanks lo Tony Cox who has just retired as a trustee for his constant
allenlion, advice and support of residents and the House over many years.
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
Pates Eslale was founded in 1574 and the Foundalion was formed in 1881. In 1811 Pale House muvèd to the
present sile and in 1987 the rear block was built. Aller the new EducaliDn Act of 1980 the Charity
Commission recommended that Pale House become an Independent Charitable Trust which was sel up in
1987 and reylslered with the Charily Commission under reference 220805. On 18 August 2001 the Trust
deregislered from the Housing Corporation.
In April 2018 the activities of the Charitable Trust were transferred lo this enlily, a Eharilable Incorporated
Organisalion ICIOI with the same name and objectives, The activities of the charity are therefore govgrned
by the incorporation document of the CIO.
2023 Annual General Meetinu
What a plgasure il was lo return to Corpus Chrisli College, Oxford lor our Annual General Meeting.
Although Richard Pale loundeLI the 'schola yrammalica, and the 'h05pilal' lalmshousel in 1574, Ihe finance5
have been overseen by Corpus sinte 1586. Thus, as part ol the original Foundation, we hold the Pale House
lalmshDusel AGM there.
The Chairman commented that 'AI the dawn of the 'Carolean Age, we are being entouraged lo seek
opporlunilies lo serve. May I suggest that in our small way, Trustees al Pale House are already doing this. I
thank you all lor yaur lime and elforl, large or small , voluntarily given,.
Inducllon and training ol new tru51ees
The Tru51ees are appointed from three sources
Pale's Grammar Schupl Foundation, Corpus Christi
Oxford and Co-opted Trustees. New Tru51ees are appointed by the source from which the vacancy arises.
A Trustee. when nominated. has lo be approved both by the relevant source nominating himlher and by Ihe
lull Pale House Charity Trustees. Two new Iruslees
Mrs Maggie Cowle and Mr Robert Rimell
were
appointed during the year.
Page 3

PATE HOUSE CHARITY
REPORT OFTHE TRUSTEES
FOR THEYEAR ENDED 31 MARCH 2024
STRUCTURE, GOVERNANCE AND MANAGEMENT
Risk management
The Iruslees have a duly lo identify and review the risks lo which the charity is exposed and lo ensure
appropriate controls are in place lo provide reasonable assurance against fraud and error.
STATEMENT OFTRUSTEES, RESPONSIBILITIES
The Iruslees are re5pon5ible for preparing the Report ol the Trustees and the financial slalemenls in
accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally
Acceptèd Accounting Praclicel.
The law applicable lo charities in England and Wales, the Charities Act 2011, Charity (Accounts and Reports)
Regulations 2008 and the provisions of the trust deed requires the Iruslees lo prepare financial slalemenls
lor each financial year which give a true and fair view of the slate of affairs of the charity and ol the
incoming resources and application ol resources, including the income and expenditure. ol the charity lor
that period. In preparing Ihose financial slalemenls, the Iruslees are required lo
select suitable accounting policies and Ihen apply them consistently.,
observe the methods and principles in the Charily SORP.,
make judgements and eslimales that are reasonable and prudent.,
prepare the financial slalements on ihe going concern basis unless il is inappropriate lo presume that
the charity will continue in business.
The Iruslees are responsible for keeping proper accoLsnling records which disclose with reasonable
ccuracy al any lime the financial position ol the charity and lo enable them lo ensure that the financial
slalemenls comply with the Charities Acl 2011, the Charity (Accounts and Reports) Regulations 200B and Ihe
provisions of the trust deed. They are also responsible for safeguarding the assets of the charity and hencè
for taking reasonable steps lor the prevention and detection of fraud and other irregularities.
Approved by order of the board of Iruslee5 on 11 July 2024 and signed on ils behalf by..
Nc (
N C Furley - Trustee
Page 4

IhtDEPEMDENT EXAMINER'S REPORTTO THE TRUSTEES OF
PATE HOUSE CHARITY
Independent examinerfs report lo the Iruslees of Pate House Charity
I report lo the charity Iruslee5 on my examination ol the accounts of Pale House Charity (the Trust) for the
year ended 31 March 2024.
Respon$ibllilies and ba515 of report
As the charily Irusleès DI thè Trusl you arè responsible for the preparalion of the accounts in accordance
with the requirements ol the Charities Act 20111'ihe Act ).
I report in respect ol my examination ol Ihe Trust's accounts carried out under Section 145 of the Acl and In
carrying out my oxaminatlDn I have followed all applicable Direction5 given by the Charily Commission
under Section 145(51{bl ol the Act.
Ind•p•ndenl •xamSnerfs slalement
I have completed my examination. I confirm that no material mallers have come lo my allenlion in
tonnection with the examination giving me cause lo believe that in any malerial respecl..
accounting records were not kept in respect of the Trust as required by Section130 of the Acl., or
the accounts do not accord with Ih05e records., or
the accounts do not comply with the applicable requirements concerning the form and conlenl of
accounts Sel out in the Charities (Accoun15 and Reports) Regulations 2008 other than any
requirement that the accounts yive a true and fair view which is not a maller considered as parl of
an independent examination.
I have no concern5 and have come across no olher mallers in conneclion with the examination lo which
allenlion should be. drawn in this report in order to enable a proper understandinu ol the accounts to be
reached.
Roger Downes FCA
BK Plus Llmiled
6 Manor Park Business Centre
Mackenzie Way
Chellenham
Gloucestershire
GL519fA
11 July 2024
Pag& 5

PATE HOUSE CHARITY
STATEMENT OF FINANCIAL ACTIVITIES
FOR THE YEAR ENDED 31 MARCH 2024
31.3.24
Unreslricled
funds
31.3.23
Total
funds
Notes
INCOME AND ENDOWMENTS FROM
Charllable activities
Charitable activities
47,612
43,037
Investment income
2,505
1,068
Total
50,117
44,105
EXPENDITURE ON
Charllablè activitles
Charitable activities
41,677
62,131
Nel gainslllossesl on inveslmenls
861
14141
NEf INCOME/(EXPENDITUREI
9.301
(18,4401
RECONCILIATION OF FUNDS
Total funds brought forward
283,656
302.096
TOTAL FUNDS CARRIED FORWARD
292,957
283,656
The notes form parl of these financial slalements
Pagè 6

PATE HOUSE CHARITY
STATEMENT OF FINANCIAL POSITION
31 MARCH 2024
31.3.24
Unre51ricled
funds
31.3.23
Total
funds
Notes
FIXED ASS￿5
Tangible assets
Investments
272,824
31,563
288,872
29.658
304,387
318,530
CURRENT AssErs
Prepayments and accrued income
Cash al bank
457
30,428
443
13,559
30,885
14,002
CREDITORS
Amounts falling due within one year
10
17.6651
17,9261
NET CURRENT ASSETS
23,220
6,076
TOTAL ASs￿s LESS CURRENT LIABILITIES
327,607
324.606
CREDITORS
Amounts falling due aller more than one
year
134,6501
140,9501
NEf ASSErs
292,957
283,656
FUNDS
Unreslricled funds
13
292,957
283,656
TOTAL FUNDS
292.957
283,656
The financial slalemenls were approved by the Board of Trustees and authorised for issue on 11 July 2024
and were signed on ils behalf by..
N C Furley - Trustee
The notes form parl ol these financial slalemenls
Page 7

PATE HOUSE CHARiri
NOTES TO THE FINANCIAL STATEMENTS
FOR THEYEAR ENDED 31 MARCH 2024
ACCQUNTING POLICIES
Basis of preparing the linan¢ial slalements
The financial slalemenls ol the charity, which is a public benefit enlily under FRS 102. have been
prepared in accordance with the Charities SORP IFRS 1021 'AccotJnting and Rèporting by Charities..
Statement ol Recommended Practice applicable lo charities preparing their accounts in accordance
with the Financial Reporting Slandard applicable in thè UK and Republie of Ireland IFRS 102)
lefleclive l January 20191,. Financial Reporting Standard 102 'The Financial Reporting Standard
applicable in the UK and Republic ol Ireland, and the Charities Act 2011. The financial slalements have
been prepared under the historical cost convention, wilh the exception of investments which are
included al market value. as modlfled by the revaluation ol certain assets.
Going concern
The Iru51ees have considered the cash flow rèquirements ol the charity for a period of greater than
twelve months from the dale ol approval ol these financial slalemenls.
Whilst acknowledging that limes remain highly uncertain, the Iruslees are conlidenl thal they can
generate the income streams necessary lo cover the charlly'5 oulgoings lor the foreseeable future
and thal, as a result, the charity remain5 a going concern. The IrLEslees have consequently drawn up
the financial stalÈments ott that basis.
Income
All income is recognised in the Slalement of Financial Acllvllles once the charity has enlillemenl lo
the funds, it is prabable that the income will be received and the amount can be measured reliably.
Expenditurè
Liabilities are recognised as expenditure as sotsn as there is a legal or constructive obligation
commilling the charily lo that oxpendilure, il is probable that a transfer of economic benefits will be
required in selllemenl 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 aggrpgale all cost
related lo Ihe caleyory. Where costs cannot be directly allribuled lo particular headings they have
been allocated lo activities on a basis consislenl with the use ol resources.
Tangible lixed assels
Housing properly is slated al cost less depreciation. Deprocialion is calculated on a slraighl line
basis over 25 years from 2018.
Other assets are capilalised based Dn Ihelr expected useful life and being ol a value that would be
deemed not lo be general operating expenditure.
Taxation
The charity ig èxèmpt from tax on ils Charitable aclivilies.
Fund accounliny
Unreslricled funds can be used in accordance wilh the charitable objecllves at the discretion of Ihe
Iruslees.
Reslricled funds can only be used for particular reslricled purpgses within the objects DI the charily.
Reslriclions arise when 5pecilied by the donor or when funds are raised lor parlitular reslri¢led
purposes.
Further explanation of the nature and purpose ol each lund is included in the notes lo the financial
gtalemenls.
Page 8
continued..,

PATE HOUSE CHARITY
NOTES TO THE FINANCIAL STATEMENTS - conllnued
FOR THE YEAR ENDED 31 MARCH 2024
ACCOUNTING POLICIES ¢onlinued
Investments
Investments are valued al market value al the balance sheet dale, being the middle prices provided
by the managers. Profits or losses arising on realisalion and unrealised gains and losses al
year-emd are dealt wilh through the Slalemenl of Financial Aclivilies..
INVESTMENT INCOME
31.3.24
31.3.23
Investment income
Deposit account inlEre51
2,505
1,022
46
2,505
1,068
INCOME FROM CHARITABLE ACTivmES
31.3.24
31.3.23
Aclivily
Maintènance contributions Charitable atlivilies
47,612
43,037
CHARITABLE ACTIVITIES COSTS
Direct
osts (see
note 5)
Support
costs (see
note 61
Tolals
Charitable activities
31,438
10,239
41,677
DIRECT COSTS OF CHARITABLE ACTIVITIES
31.3.24
31.3.23
Cleaning
Insurance
Subscription5
other properly Costs
Repairs and maintenance
Eslablishmenl cost5
Depreciation
,072
1.563
343
45
9,221
3.145
16.049
1,023
1,497
196
37
29.401
3,911
16,049
31,438
52,114
Page 9
continued...

PATE HOUSE CHARITY
NOTES TO THE FINANCIAL STATEMENTS- Continued
FOR THE YEAR ENDED 31 MARCH 2024
SUPPORT COSTS
GDvgrnance
costs
Charitable activities
10,239
Support costs, included in Ihe above, are as follows:
31.3.2
Charitable
activities
31.3.23
Total
activities
Independent examiners lee
Secretarial assistance
Office costs
1,241
8,318
680
7,164
8.229
624
10,239
10,017
TRUSTEES, REMUNERATION AND BENEFITS
There were no Iruslees, remuneration or other benefits lor the year ended 31 March 2024 nor for the
year ended 31 March 2023.
Truslee5' expense3
Two trustees received relmbursemenl of a lolal of £50212023.. £4,656 to one Irusleel for expenses
incurred on the charity's behalf,
TAhlGIBLE FIXED ASs￿s
Freehold
properly
COST
Al l April 2023 and 31 March 2D24
370,453
DEPRECIATION
Al l April 2023
Charge for year
81,581
16,048
Al 31 March 2024
97,629
NET BOOKVALUE
Al 31 March 2024
272.824
Al 31 March 2023
288,872
Pate's Almshouse was constructed in the late Nineteenth Century and extended in the late Iwenlielh,
There is no record ol the origin31 cost, which lor FRS102 purposes in 2018 was taken as bèing £100
plus the ¢osl of èxtension in198D of £75.235. Further additions since Ihers are shown al cost.
The number of units of Housing Accommodation remained al 10 units throughout the year.
Page 10
continued..

PATE HOUSE CHARITY
NOTES TO THE FINANCIAL STATEMENTS- conllnued
FOR THE YEAR ENDED 31 MARCH 2024
FIXED ASSET INVESTMENTS
Unlisted
investments
MARKEf VALUE
Al l April 2023
Additions and dividends reinvp51ed
Revaluations
29,658
1,044
861
Al 31 March 2024
31.563
NET BOOK VALUE
Al 31 March 202A
31,563
Al 31 March 2023
29,658
There were no investment assets outside the UK.
Cost or valualion al 31 March 2024 is represented by.
Unlisted
investments
Valuation in 2020
Valuation in 2021
Valuation in 2022
ValuatlDn in 2023
Valuation in 2024
Cost
{1,4861
2.864
1,360
14141
861
28,378
31,563
The investments al market value comprise Ihe following..
2024
2023
Accumulalion ol Income
1,191.745 BLK Charities UK Equity Fund A Acc
17.486 8LK Charities UK Bond Fund A Acc
30,760
803
28,877
781
31,563
29.65B
Page 11
continued...

PATE HOUSE CHARITY
NOTES TOTHE FINANCIAL STATEMENTS- ¢ontinued
FOR THEYEAR ENDED 31 MARCH 2024
10.
CREDITORS.. AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24
31.3.23
Other loans (see not&121
Trade creditors
Accrued expenses
6,300
6,3QO
335
1.291
1,365
7,665
7,926
CREDITORS.. Amouwfs FALLING DUE AFfER MORE THAN ONEYEAR
31.3.24
31.3,23
Other loans (see note 12}
34,650
40,950
12.
LOANS
An analysis ol the malurily of Icans is given below=
31.3.2
31.3.23
Amounts falling due within one year on demand..
Almshouse Association loan
6,300
6,3UO
Amounts falling between one and IWD years-
AlmshDuse Associalion loan
6,300
6,300
Amounts falling due between two and livp years:
Almshouse Associalion loan
18,900
18,900
Amounts lalling due in more than live years..
Repayable by in51alments'.
Almshouse Association loan
9,450
15,750
13.
MOVEMENT IN FUNDS
Nel
movemènt
in funds
Al
31.3.24
Al 1.4.23
UnrÈslri¢led funds
Genpral fund
283.656
9.301
292,957
TOTAL FUNDS
283,656
9,301
292,957
Page 12
continued...

PATE HOUSE CHARITY
NOTES TO THE FINANCIAL STATEMENTS - contlnued
FOR THE YEAR ENDED 31 MARCH 2024
13.
MOVEMENT IN FUNDS - continued
N91 movement in funds, included in the above are as follows..
Incoming
resources
Resources
expended
Gains and
105ses
Movement
in funds
Unreslricled funds
General fund
50.117
141,6771
861
9,301
TOTAL FUNDS
50,117
141,6771
861
9,301
Comparallves for movoment in funds
Nel
m4Jvemenl
in funds
Al
31.3.23
At 1.4.22
Unrestricted fund5
General fund
302,094
(18,4401
283,656
TOTAL FUNDS
302,096
11B,4401
283.656
Comparalivo net movement in lund5, included in the above are as follows=
Incoming
resources
Resources
expended
Gains and
losse5
Movement
in funds
Unre51ricted funds
General fund
44,105
162,1311
14141
118,440)
TOTAL FUNDS
44.105
162,1311
14141
118,4401
14.
RELATED PARTY DISCLOSURES
Aspey Lawrence & Co Ltd
A company In which Mr D Lawrence is a director and shareholder
During the year the charity placed insurance business with the related party on an arms, length
basis. The value ol premiums paid was £21512023.. £2151.
Page 13