Charity reglstration number 1172357 (England and Wales) PATE HOUSE CHARITY ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025
PATE HOUSE CHARITY LEGAL AND ADMINISTRATIVE INFORMATION Trustees Mrs M J Cowe Mr G N Gregory Mr J B Buchan8n Mr D Lawrence MrRMay Mrs C Price Mr R B Rimell Mrs R Rowland Mr M R Devereux Mr N Hosken {Appoinled 7 November 20241 Chaylty number (England and Wales) 1172357 Pvlnclpal address 16 Albion Street Chellenham Glouceslershir8 GL52 2LP Independent examlner BK Plus Limited 6 Manor Park Business Centre Mackenzie Way Cheltenham Gloucestershire England GL519TX
PATE OUSE CHARITY CONTENTS Page Truslees. report Independent examiner's report Slalenient of financial acliviti&s Slalenienl of financial position Notes to the financial statements 7-12
PATE HOUSE CHARITY TRUSTEES. REPORT FOR THE YEAR ENDED 31 MARCH 2025 The trustees present their annual report and financial statements for the year ended 31 March 2025. The financial statements have been prepared in accordance wilh Ihe accounting policies set out In note 1 to the financial statements and comply with the 's governing document. the Charities Act 2011. FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Chafilies SORP 'Accounting and Reporting by Charilies.. Slalemenl of Recommended Practice applicable to charilies preparing Iheii accounts in accordance with the Financial Reporting Slandard applicable in the UK and Republic of Ireland IFRS 1021" Objectives and actlvities The Objecls of the ¢harily, a5 registered with the Charily Commission, are Ihe provision of almslioiises foi" poor persons of good character who are nol le55 than 60 years of age or are infirm, are resident or were born in the Borough of Chellenham provided that preference shall be given to applicants Qualified as aforesaid who are single, widows or widowers. If, on the occasion of a vacancy, Ihere is no suitable applicant who qualifies as aloresaid, the Iru5tees may appoint as a residenl a person otherwise duly qualified who is resident or was born in the parish ol Leigh in the county of Glouceslershire. The Charity's Aims are.. lo provide a quality and professional service for the well being of the residenls ol Pale House, Cliellenhaiii, lo ensure the fabric and essential IixluTes and fillings are maintained al an above good standard as laid clown by interested bodies i.e. DSS and the Almshouse Association. lo pay due cognisance lo the regulations laid down by the Almshouse Association and other interested bodies in Ihe care for the elderly; lo explore opportunities and lake advantage of situations which may lead lo the expansion of the current accommodation under the care of Ihe Trustees and which will be within the Trust's financial slatLIS Publlc beneflt In planning the Charity's aclivilies the Iruslees kept in mind the Charity Commission's guidance on public benefit, The focus of the Charity's activities during the period. which explains the delivery by the Charity of public benefit, is set out below under'Achievemenl and performance, and above under'objeclives and aims,. Achievements and performance Charltable a¢tlvltie5 l am delighted lo report that Pale House continues to successfully provide accominodalion lo the residents as il has been since its foundation in 1574. The residents and Trustees may change bul Pale House reniains con)mitled lo providing affordable accommodation in accordance with the wishes of Richard Pate when he founded the original AlmshoLlSe. Before proceeding with my report. I would like lo take this opportunity lo recognise the oiitslaiiding contribulioii lo P8le House of my predecessor Noel Furley who stood down as Chairman al last year's AGM after 28 yeais seivice as a Trustee. I know that we will all miss him. As reported in the draft Accounts, there was a full loft inspection carried out and, following the decision lo replace the insulation in both front and rear blocks, this has been SLiccessfully conclLided. Our thanks lo BrLice aiid Robert for their sterling work in dealing wilh these issues and Ihe conlfactors. l am also delighled lo report Ihal full payment oflhe works has now been made. The highlight of the year has been the celebration of the 450Th Anniversary of Ihe foundolion of Pale House We were delighted lo welcome Paul Baker {Mayor of Chellenhaml, Dr James Richardson (Head of Pale s Gr3miiiai' School) Robert MJcDonald (Head of the Richard Pate School) and Alex Chalk lunlil recently Ilie MP foi Chellenhaml lo our celebration held in the gaiden of Pale HoLise on 12 Jtjly 2024. The event was also allended by several of the residents and il was a delight for me to meet Ihern in person (some for the firsl linie I I woulo i h81Ik Rosemary, Claire and Mag9ie for the hospilalily extended lo our guests.
PATE HOUSE CHARITY TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Financlal review FinanLial position The Charily's finances are sufficiently sound enough for Trustees to approve some major refurbishment, The loan froni the Alnishouse Association is comfortably reducing and Trustees have met the compliance regulations at Barclays Bank. Reserves policy The unreslricled reserves ale available for Ihe day to day running for the charity. The overall po1CY is lo be in a position lo have sufficienl reserves for new builds. acquisitions or joint ventures and this Is conlinuolisly explored The present leve15 of resee5 are not sufficient for Ihe Iruslees lo progress with any of the proposals pul forward lo dale. It is Ihe trustees, intention to build the charity's reseeS to enable them to be ulilised or this purpose. Plans for futiire periods Uiiloittuiialely, dLiring the course of the year, Purvi Shah (Clerk lo the Trusleesl tendered her resignation. Plirvi was a stalwart ol the Charity for maiiy years and provided invaluable support and assistance lo the Trustees durlng that lime. I woiild wish lo record my personal thanks lo h8r for everything that she has donè. We are currently looking lor a replaceineiil and look lo fill the position shortly In the meantime, the workload is being shared among the TrLislees and Maggie has Kindly taken on the adminislralive roles for whlch l am most grateful. Duriiig the year we have also welcoined on lo Ihe Trustees, Mark Devereux who will provide invaluable financial assistance and gLiidance for Ihe lulure. He has already made good progress with the handover from Purvi and taking over Sage. 5 have recently been able to sel up the bank feeds which has given Mark the ability to download bank transactions direct. I would conclLide by once again thanking my fellow Trustees for all the hard work and support that they give during the year and wilhoul whom Pale House could not continue lo be the success it is. Structure9 governance and management Governing documeiit Pales Eslale was foLinded in 1514 and the Foundation was formed in 1881. In 1811 Pale House rnoved lo Ihe present sile 3nd in 1987 the rear block was built. After the new Education A¢t of 1980 Ihe Charily Commission recommeiided that Pale House become an Independent Charitable Trust which was set up in 1987 and registered with the Charity Commission under reference 220805. On 18 Augusl 2001 the Trust deregislered from the Housing Corporation. Iii April 2018 the activities of the Charitable Trust were transferred lo this entity, a Charitable Iiicorporated Orgaiiisalion ICIOI wilh the same name and objectives. The aclivities of the charily are therefore governed by the incorporation docunienl of Ihe CIO. liidiiction and traSning of new triistees The Ti'Lislees are appoinle(J from three SOLirces Pale's Grammar School Foundation, Corpus Christi Oxford and Co-opted Truslees. New Trustees are appointed by the source from which the vacancy arises. A Trustee, when nominated, has lo be approved bolh by the relevant Sour nominciting himlher and by the full Pate House Charity Ti'uslees. Risk mana9einent The li Lislees have a dLily lo identify and .-eview the risks lo which the charity is exposed and to ensure appropriate contro15 are in place to provide reasonable assurance against fraud and error.
PATE HOUSE CHARITY TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Statement of trustees. responsibilities The trustees are responsible for preparing Ihe Truslees, Report and the financial slalen)enls in accordaiice with applicable law and United Kingdom Accounting Standards (United Kingdom Genei'ally Accepted Accounting Practice). The law applicable lo charities in England and Wales requires the trLlStees to prepare financial slalemenls for each financial year which give a true and fair view of Ihe slate of affairs of the and of the Incoining resoul'ces aiid application of resources of Ihe for that year. In preparing these financial slatemenls. the trustees are required lo.. select suitable accounting policies and then apply them consistenlly., observe the methods and principles in Ihe Charilies SORP., make jLidgemenls and eslimales Ihal are reasonable and prudenl., slate whether applicable accounting standards have been followed, subject lo any material departures disclosp.d and explained in the financial slalemenls; and prepare the financial slalemenls on the going concern basis unless il is inappropriate to presuine that Ihe charity will Gontinue in operation. The Iruslees are responsible for keeping adequate accounting records thal disclose with reasonaole accuracy al any lime the financial Posltion of the and enable them lo ensure that the financial staleinenls cormply with tlie Companies Act 2006. They are also responsible for safeguarding the assets of the and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. The Iru51ees' report W8s approved by the Board ofTrustees. Mr G N Gregory Trustee 25 July 2025
PATE E40USE CHARITY INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF PATE HOUSE CHARITY I report lo the IfLislees on my examination of the financial statements of Pate House Charlty (the ) for the year endeu 31 DAarcli 2025. Responsibilities and basis of report As the IrLisleea of the you are responsible for the preparalion of Ihe financial statements in accordance with the requirements OT Ihe Cliarilies Acl 2011. I report iii i-especl of my examination of Ihe 's financial slalements carried out under section 145 of the Charities Act 2011. In carrying OLII my examination I have followed the Directions given by the Charity Commission under section 14515llbl of the Charities Act 2011. Independent examlner's stateinent Your allenlion 1> drawn lo Ihe fact Ilial the charity has prepared the hnancial statements in accordance wilh the I'e5evanl versioii of Ilie Slalemenl of Recommended Practice applicable lo charities preparing their financial slaténienls in accordance INilh Ihe Financial Reporting Standard applicable in the UK and Republic of Ireland {FRS 1021 in preference lo the Accounting and Reporting by Charities.. Slatemenl of Recommended Practice issued on 1 April 200J which is rplerred lo in Ihe exlanl regulations bul has now been withdrawn. l understand th81 this has been done in order for the finan¢ial slalemenls lo provide a true and fair view in accordance with UK Generally AccepleL1 AcknQiiiiling Praclice, I liave coniplg.. ed IMY examination. I confirm that no matters have come lo my atlenlion in connection with the examination givin9 me cause lo believe that in any material respect". accoLinlin' records were not kept in respect of the as required by section 130 of the Charities Act 2011. the financ JI slaleinenls do not accord with those records., or the financ al slalements do not comply with the applicable requirements conceming the form and content of financial ,lalemrnnls sel out in the Charities (Accounts and Reports) Regulations 2008 other than any reqLiirem( It Ilial the financial slaleme.nts give a true and fair view, which is not a matter considered as parl ol an indepE ident examination. I have no concarns and have come across no olher matters In connection with the examination lo which atlention should be draw, n in this report in order to enable a proper understanding of the financial statements lo be reached. Cinzia Heiisle, FC Chartered Cer tied Arcounlanls BK PILIS Lim11£ 1 6 Marioi Park bLJsiiiess Centre Maclfenzie W. C'hellenham Cilouce51ersliii LiL51 9TX England ?5 Jlily 2025
PATE HOUSE CHARITY STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 MARCH 2025 UnrestYl¢ted funds Unrestrie.tQfl funds 2025 2024 Notes Income from: Charitable activities Investments 48,421 1,442 47,612 Total income 49 863 Expeiidlture on: Charitable activities 41,67-1 Total expenditure 57,844 Nel gainslllossesl on investments 1.236 861 Net incomel(expendlture) and movement In funds (nJ 745 Reconcillation of funds: FLind balances al 1 April 2024 292,951 283 656 Fund balances at 31 March 2025 286.212 292 QJf7
ATEH USE CHARITY STATEMENT OF FINANCIAL POSITION AS A T 31 MARCH 2025 2025 2024 Notes FSxed asset5 Tangible assets Investments 256,775 33.910 272,824 31,563 290.685 304,387 Cibrrent assets Prepayments Cash al bank and in hand 10 486 31,177 457 30,428 31.663 30,885 Creditors: amounts falling due within one year 11 (7,786) 17,6651 Net current assets 23,877 23,220 Total assets less current Ilabllitios 314,562 327,607 Creditors: amount6 falling due after more tlian one year 12 128,3501 134,650} Net assets 286,212 292.957 The funds of the Unreslricled fLinds 14 286,212 292,957 286.212 292,957 The financial statements We approved by the trustees on 25 July 2025 Mr N-frFudey Tyustee
PATE HOUSE CHARITY NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 Accounting policies 1.1 Accounting convention The financial statements have been prepared in accordance with the 's governing éocuiiipnt, the Charities Act 2011, FRS 102 "The Financial Reporting Standard applicable in the UK ayd Republic of Ireland and the Charities SORP "Accounting and Reporting by Charities.. Slalemenl of Recoiiimended Practice applicable 10 charities preparing their accounts in acGordance wilh Ihe Financial Reporting Slandafd applicable Iii Ilio Ul( and Republic of Ireland IFRS 1021" The is a Public Benefit Enlily as defined by FRS 102 The financial slalemenls have departed from the Charilies (Accounts and Reports) Regulalioiis 2008 only lo the extent required to provide a true and fair view. This departure has involved lollowiiig the Slaleinenl ol Recommended Practice for charities applying FRS 102 rather than Ihe versioii of the SlaleiMenl of Recommended Practice which is referred lo in the Regulations but which has since been withdrawn. The financial 51atemenls are prepared in sterling, whi¢h is the functional currency of the , Monetary aniounls in these financia1 slalements are rounded to the nearest £. The financial statements have been prepared under the historical cost convention, Inodified lo iiiclLide Ilie revaluation of fre8hold properties and lo Include investment properties and Certain financial Instruments al fair value. The principal accounting policies adopted are set out below. 1.2 Going concern The Iruslees have considered the cash flow requiremenls of the charity for a period of greater than twelve month5 from the dale of approval of Ihese financial statemenls. Whi5sl acknowledglng Ihal limes remain highly uncertain, the trustees are confidenl that they can generate the income streams necessaiy lo cover the charity's oulgoings for the foreseeable future and Ilial, as a resLIII, the charity remains a going concern. The trustees have consequenlly drawn up 1he financial slalemenls on that basis. 1.3 Charltable funds Unreslricled funds can be used in accordance with Ihe charilable objectives al the discretion of the IrLlStees. Reslricled funds can only be used for parlicular reslricled purposes wilhin the objects of the cliarity. Restrictions arise when specified by the donor or when funds are raised for parlicular reslricled purposes. Furthef explanation of the nature and purpose of each fund is included in the notes lo the finaiiei31 slalements. 1.4 Income All income is recognised in the Slalement of Financial Aclivilies once the charily has enlillement lo the funds, il is probable that the income will be received and the amounl can be measured reliably. 1.5 Expenditure Liabilities are recognised as expenditure as soon as Ihere is a legal or constructive obligation COTniiiilting the charity lo that expenditure. it is probable Ihal a Iransfer of economic benelits will be required In seltlenieiil and the amount of the obligation can be measured reliably Expenditure is accounted for on ali accruals basis and has been classified under headings that aggregate all cost related lo the category Where costs cannot be directly allribuled to particular headings thèy have been allocated lo activities on a basis ¢onsislenl with the Use of resources 1.6 Tangible fi)(ed assets Holising property is slated at cost less deprecialion. Depreciation is calculated on a slraighl line basis ovef 25 years from 2018.
PATE HOUSE CHARITY NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Accounting policies (Continued) other assets are capilalised based on their expecled uselul life and being of a value that would be deemed not lo be general operating expenditure. 1.7 Iiive5tment5 Inveslrnenls are valued al marke+ value al Ihe balance sheet dale, being the middle prices provided by the nianagers. Profits or losses arising on realisalion and unrealised gains and losses al year-end are deall with Ihroligh Ihe Slalemenl of Financial Aclivilies.. Incoine from charitable activities Unrestricted Vnrastrlcted funds fuiids 2025 2024 Maintenance conlribulions 48,421 47,612 Income from invostments Unrestrlcted Unrostrlctad fui?d8 funds 2025 2024 Investment Income 1,442 2,505
PATE HOUSE CHARITY NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Expenditure on charitable activities Total Total Direct costs Depreciation Cleaning Insurance Subscriptions Other prDperty costs Repairs and maintenance Eslablisbment costs 16,049 1,Q72 38 45 3,145 49,463 31,438 Share of support and governance costs (see note 5> Support 10,239 57.b44 41,677 Analysis by fund Unresiricled funds 57.844 Support costs allocated to activitie6 2025 2024 Independent examiners fee Secretari81 assisl8nce Off ice costs 1,241 8,381 1U.23CI Trustees None of the Irusleès (or any person5 connected with them) received any remune", aliny or henefits Troin Ilie during the year. Trustees. expense5 Five Iruslees received lolal reimbursements of £475 (2024.. £5021 f9r expenses Inci".rred ori the cliarily s behalf. Taxation The charity is exempt from taxation on its activities because all its income Iq applied for charitable purpoges.
PATE HOUSE CHARITY NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Tangible fixed assets Freehold land and buildlngs Cost Al 1 April 2024 370,453 Al 31 March ?025 370,453 Depreclation and impairment Al 1 April 2024 Depreciatioii charged in the year 97,629 16,049 Al 31 Marcli 2025 113,678 Carrying '.mount Al 31 Marci ?025 256,775 Al 31 Marc 1024 272,824 Pale's Alm.. louse was constructed in the late Nineleenlh Century and extended in the late twentieth. There is no record c the original cost. which for FRS102 purposes in 2018 was taken as being £100 plus the cost ol extension ir 1980 of £75,235. Further additions since then are shown at cost. The numbÉ If units of Housing Accommodation remained at 10 units throughout the year. Fixed as., t investments Unlisted investments Market v. li 8 Al 1 April 2 Revalualio, . Addilioiis ¢ I I dividends reinvested 31,563 1,236 Al 31 Maic ),J25 33,910 Carrying Il. ioiint Al 31 Marc 2)25 33,910 Al 31 fvlarc, .024 31,563 10-
PATE HOUSE CHARITY NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Fixed asset investments (Continued) 2025 2024 Investments at fair value Comprise.. Valuation in 2020 Valuation in 2021 Valu81ion in 2Q22 Valuation in 2023 Valuation in 2024 Valuation in 2025 Cost 11 4861 2,864 1.360 14.141 861 1,236 11,4861 2,864 1,360 14141 861 28,378 33.910 31,563 The investmenls at market value comprise the following-. 2025 2024 Accumulation of income 1,191.745 BLK Charities UK Equity Fund AACC 17.486 BLK Charities UK Bond Fund AACC 33,095 815 30 7GO 803 33.910 31,563 10 Debtors 2025 2024 Amounts falling due wlthln one year: Prepayments and accrued income 486 457 11 Creditors: amounts falling due within one year 2025 2024 Notes Other loans Trade creditors Accruals ar)d deferred income 13 G.300 82 1,404 6,300 1.365 7,865 12 Credltors: amounts falllng due after more than one year 2025 2024 Notes Other loans 13 28.350 34.650 11
PATE HOUSE C ARITY NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 12 Cweditors: amounts falling due after more than one year (Continued) 13 Loans and overdyafts 2025 2024 011)er loans 34,650 40,950 Payable within one year Payable after one year 6.300 28,350 8,300 34,650 14 Unrestricted funds The Linreslricled funds of the charily comprise Ihe unexpended balances of donations and grants which are nol SLibiecl lo specifi¢ conditions by donors and granlors as to how they may be used. These inclLide designated funds which have been Set aside out of unrestricted funds by the Iru51ees for specific purposes. At 1 April Incoming Resources 2024 resources expendod Galns and At 31 March losses 2025 Geiieral funds 292.957 49,863 (57,844) 1.236 288,212 Previou5 year: At 1 April 2023 Incoming Resources resources expended Gains and At 31 March losses 2024 General fund5 283,656 50,117 141,677) 861 292,957 15 Related party transactioiis Aspey Lawi'ence & Co Limited A company iii which D Lawrence is a dlYe¢tor and shareholder During Ihe year the charily olaced insurance business wilh the related parly on an arm's length basis. The valLie of Ihe premiums paid w3s £23212024 £215}. 12-