REGISTERED CHARITY NUMBER: 1175027
Report of the Tr￿t00$ and
Unaudltsd Flnanclal Statsmonts for the Year Ended 31 December 2023
THE BERROW GOTTAGE HOMES
KNOX CROPPER

THE BERROW CO￿AGE HOWIES
Contents of the Flnanclal Ststements
for thg Yoar Endod 31 December 2023
Page
Rfrference and Admlnlstratlve Detalls
Roport of tho Trustees
Indapendont Examln•r'8 Report
statèment of Flnanclal Actlvltlos
Balance Sh•et
10
Notss to the Flnanclal Statements
11 to 21
D•talled Statoment of Flnanclal Actlvltles
22 to 23

ThE BERROW COTTAGE HOMES
Roferencg and Admlnlstrallve Detall8
for the Year Ended 34 December 2023
TRUSTEES
N J Cameron Chairman {appoinled 23.5.23)
T J Corns
Dr J A Hagon VIGe Chairman (appointed 23.5.23)
Mrs J Hogg
Mrs C Lewthwaile
R WPill
C E Pontifex A.C.A Treasurer
Mrs E M Wilkin
D Whiling
Rev G Lanham Ex-Offi¢lo Trustee
PRINCIPAL ADDRESS
Mary Galloway House
2 Kenilworth Road
Knowle
Solihull
West Midlanés
B93 OJA
REGISTERED CHARITY
NUMBER
1175027
INDEPENDENT EXAMINER
Knox crOp￿r LLP
Chartgred Accountants
Office Suite 1
Haslemere Hous8
Lower Street
Haslemere
Surrey
GU27 2PE
SOLICITORS
Standley & Co
1612-1618 High Street
Knowle
Solihull
Wesl Midland8
893 OJU
BANKER8
Barclays Bank plG
19-21 Mell Square
Mill Lane
Solihull
Wesl Midland5
B913AR
Page 1

ThE BERROW COThAGE HOMES
Report of the Truste•s
for tho Year Ended 31 Doogmber 2023
The trustees preser)I their report wlth the financial statements of the charlty for the year ended
31 D￿rnber 2023. The trustees have adopted the provisions of Arxounlin9 and Reporting by Charities..
statement of ReGommenéed Practice applicable to charf(ies preparing their accounts in accordance with the
Financial Reportlng Standard applicable in th8 UK and Republic of Ireland IFRS 102) leffeclive 1 January
2019).
OBJECTIVES AND ACTIVITIES
Objectlvos and alms
The Charity exists to maintaln and manage 30 almshouses lincludlng 1 cKcupied by the warden} in its
ownership for the benefit and welfare of people in need of housing provlsion, princlpally in the village of
Knowle and the surrounding areas, in accordan￿ with the orlginal Trust deed,
Slgniflcanl a¢tlvltles
The trustees have the objodlve8 of keeplng all the properties and gardens in good ¢ondltion, Iher8by
providing a comfortable and safe environment for each resident., complying with the Decent Homos
Standards and ensuring that the properties are in demand. To achieve this stated objectlve, plans were
devised to further upgrade the Vlctorian Cottages, and in so doing improve their EPC ratings. Other aims for
the year were lo continue rèviewing and updating the pollcies of the trust to ensure that they reflect best
practice,. to review the risk assessments for the trust., to continue to mpnlior the wellbeing of the residents
and to mitigate against the effects of the rising Bank Base Rate and other cost of Ilving pressures on the
finan¢es of the charity.
Publlc beneflt
The charity provldes public benefit by providing social housing by way of Almshouses lo those who are
unable lo afford commercial rent5. By being in close contact with these individuals the charity can ensure
thelr health and wellbeing Is prolecled.
Grantmaklng
It is not the policy of the Trustees to make grants.
ACHIEVEMENT AND PERFORMANCE
harltablè actlvltle8
During the year. the planning ¢ontinued on upgrading the Victorian Cottages and a contract was entered into
for the replacement of their bay windows to increase the 18vels of insulation, and improve their energy
gfficiency. The process of reviewing the trusl's policies and its risks was continued. Preparations were mad8
for the repayment of the bank loans. on their Tepayment dale, resulting in expenditure being carefully
controlled, which together with htgh levels of propety oc¢upancy led lo improved cash generation. A tenanvs
satisfaction survey was undertaken, as requi￿￿ by the Regulator of Social Housing, the results of which
showed high levels of tenant satisfaction.
Page 2

ThE BERROW corrAGE HOMES
Report of the Trust99$
for the Year Ended 31 Doc•mb8r 2023
FINANCIAL REVIEW
Flnanclal po8ltlo
Turnover from Social Housin9 1otJngs increased by £18,311 to £176,863 compared lo last year (2022..
£158,552) as a result of increased Weekly Maintenance Charges and the reduGlion In voids throughout
the year.
Operating expenditure has been well monitored in the year
Charitable Aclivty costs have decreased by £10,562 to £117,958 12022.. £128,520) due to.. al £3,815
decreased losses on the sale of tangible asse15', b) £1,585 decreased In Lighting and heat., cl £3,844
decreased in Propety repalrs,and dl £1,513 decreased in Grounds Mainlenanco,
Support Costs have increased by £989 to £18,14912022'. £17,160).
The net Income from charitable activrties, reported at £64,460, includes galns on investments amounting lo
£10,288, compared lo the reported £25.162 losses on investments in 2022. Interest payable on loans
totalled £15,848, a decrease from £22,271 In 2022. Inveslment income has de¢re8sed by £11,380 10
£21.002 {2022'. £32,382) as a result of the 2022 investmenl disposals.
Therefore, the Balance Sheet Indicates an in¢rease in reserve5 of £64,460, reflecting the net income for the
year. This compTises a surplus on unreslricled funds amounting to £81.061 and a deficit on restricted funds
of £16,601, which represents the depreCIa￿an charge released against the social housing grant
InV￿tment poll¢y and oble¢tlvo8
The investments are managed by the Trustees who have opted to invest In Accumulation shares of the M&G
Chadty Mulli Asset Fund.
Reserves pollcy
The National A$socialion of Almshouses require sufficient sums lo be sel aside as investments lo generate
necessary funds mainly for the maintenanc8 and repairs of the Almshouses-. this is achieved by selling aside
annually the amunl advised by them. Accumulation Fund dividends are allowed to ac¢umulate in the
reserves unless reqUI￿d for exceptional expenditure.
Total Unrestrlcted Reserves of the Charity amount to £1,892,315 of which £1.366,600 have been
designated. £124,138 relates to the Investment Revaluation Reserve and £401,577 comprises the Income
and Expenditure Account,
Restricted Reserves amount to £753,682 and represent social housing granls re￿1Ve1 net of the
depreclatSon element of the housing properti85 fvnded by the grants.
Details of these reserves are sel out in Note 18 to the Flnancial Statements.
FUTURE PLANS
These will be to ensure that the Almshouses continue lo be well maintalned and In so doing provide
comfortable a¢commod81ion for the r8sid8nts. Plans are being drawn up for further improvements to the
Victorian Properties, which will further enhance their energy efficiency. The trustees Intend lo continue to
maintain an enhan￿d level of tenant involvem8nt, by conllnuing to adopt the National Regulator of Social
Housing Tenant Satisfaction Surveys.
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governlng docum8Dt
The Charity is a Charitable Incorporated Organisation (CIO) and is controlled by ils governlng document, the
foundation registered on 9th October 2017, and as amended on 1 sl February 2018 and 4th June 2018. The
CIO'S Registered Number is 1175027 and It is also regulated by the Regulator of Social Housing15051}.
Page 3

THE BERROW corrAGE HOMES
Report of the Trustees
for the Year Ended 31 Do¢¢mber 2023
STRUCTURE. GOVERNANCE AND MANAGEMENT
Re¢rultment and appointmont of new tru5to&8
Trustees are recruited as required with the aim of havlng a Board of Trustees with a range of relevant skills
and experience. New Trustees are inducted. by the Board and are able to attend ￿urSeS run by the
Almshouse Association an(1 others.
Organlsatlonal structure
The Board of Trustees met four limes in 2023 to delermlne slralegy and policy and they employ a Warden
and Clerk to ensure that residents, needs are met and that the in¢ome and expenditure of the Charty is
managed effieienlly. Trustees seNe on Sub committees including Heallh and Safety, Finance. Buildings,
Residents, Selection, Residents, Welfare and Fundraising in order lo facilitate day-to-day management and
sldents, welfare issues. The Warden is available to offer reasonable non nursing assistance to frail
residents and liaise with Social Services to ensure that r8sidents are able to mainlaln Sndependenl residence
until they require full lime resldenlial Care.
The Clerk to the Trustees prtpares monthly cumulatwe cash accounts and cumulative s18tem8nls of
contributions due from residents together with a reconciliation lo the bank balances. These are scrulinised by
the Treasurer who prepares an annual budget and provides performance reports for each meetlng of the
Truste85. The bank mandate requires 8Uthorised porsons for all payments. InsuranrR and Risks are
reviewed annually.
The Trustees also confirm that they have had regard for th8 Charity Commlssion guidance in respect of
public benefit when reviewing the charity's alms and objectives and planning future activities,
Codo of Govomance
The code of govemance adopted by the Trustees is the Charity Governance Code for Smaller Charities, as
thls best fils with the aims and objectives of The Berrow Cotlage Homes as an Almshouse Charity and
represents a standard of good governance practice to wh￿h all Gharilies should aspire.
The Board of Trustees confi'rms compliance with the Govemance and Flnanaial Viability Standard. In doing
so, the Board confirms that it has an appropriate, robust and prudent business plannlng, risk and control
framework in place.
R18k managemènt
The Trustees have glven conslderalron to the major risks to which the charity Is exposed and have reviewed
the established systems and procedures to manage these risks and to ensure appropriate controls are in
place to provlde reasonable assurance against fraud end error.
The Board's focus In the year was on the below prin¢ipal risks..
Malnlainin
Pro
erties to Decent Homes
ar
Reports are made lo the Board and each meeting lo ensure all prop8rtie5 and inspections are up lo date. A
pro9ramme of works is in plaGe for Gomponent replacements.
Mainlainin
ood
ervice levels to resi
The Beirow Cottage Homes adopts an open forum of communication be￿eBn residents and key
management personnel. During the year resldenls continued to be more involved with the operations of the
Charity and the welfare of fgllow residents . by providing key feedback to the Trustees at their regular visits
and through a Regulator of Houslng residents, satisfaction survey.
EffectSve mana
ement of the Chari
's resources
The Board continue to monitor the Charity's resources and part￿UlarlY its ffinances ghfen Ihe economic
uncertainties currenlty impacting the cost of living for the residents and the charity in maintaining the
properties. Glven the investments held by the charity, the Trustees arg ¢onfidenl that the charity is able lo
continue dellverlng its obledives.
Page 4

THE BERROW corrAGE HOMES
Report of tho Trustoes
fortha Year Ended 31 December2023
VALUE FOR MONEY {VFMI
Each year the Charity uses a range of data to measure VFM progress against the housing sector. The
results he5p influence investment de¢isions and provide the ￿gulatOrS and other 51akeholders with
information on the progress of the Charity, whilst also 8nsurlng compliance with the regvlatory VFM
standard. The metrics have been CoMpa￿d to to the Acuity smaller provider8 2022123 re5uits.
Metrlc
2023
2022
Aculty
S¢orecard
Commgntsry
0% Th8 Charity has 30 Almshouses in
management. This remains as per
the previoLfS year, with no new supply
of social or non-social housing.
New suppty
delivered
0%
Gearing
7.17¥
5,12%
13.24% The Charity's gearing is below
industy median refi8cllng a lower
reliance on exlemal borrowings for
the funding of ils housing propertles
EBITDA MRI
699,48%
{197.89%1
168%The metrtc highllghls a $1gnrf￿Trl
improvement in the organisalion's
operational performance and finan￿al
health.
Th8 decrease in capital
expenditure in 2023, conlrasled wlth
the expenditure on the roof works of
Victorian Cottages in 2022, ha5
positively
InfluenGed
E81TDA.
Similarly. the reduction in voids
throughout the year and overall
improvements in cost management
have also contributed positively to
this outcome,
Social
Housing Cost
Per Unit
£3.072
£6,688
£5,395 Lower voids compared to 2022 and
sower capilalised costs reflect the
decrease of Social Housing Costs per
unil in he year.
Operakn'ng
Margin Overall
26.290
18.76%
13.34Vo The operating
margin
increase
indicates that The Berrow Collage
Homes became more profitable
relative lo ils revenue in 2023
compared to 2022
and has
outperformed
the
industry
Benchmark.
13.21% The operating Social Housing
Lettings in the year Is due to lower
voids COMpa￿d lo 2022 and
decrease in repair costs. Thi$
significant increasg in operating
margin from 2022 to 2023 indi¢ate$
enhanced
efficiency
and
cost
management
within tle Social
Housing lettings sector.
Social
Housing
Letting8 only
21.66%
6.70%
PaJe 5

ThE BERROW COThAGE HOMES
Report of the Tru8te88
for the Yoar Ended 31 Decembgr 2023
ROCE
2.020
1.20%
1.86tl/o ROCE'S increase in the year
indicates that The Berrow Collage
Homes generated more profit relative
lo the Gapital employed In its
operations durlng 2023. Additionally,
the reported 2.02111• ROCE exceed5
the industry average of 1.86%.
suggesting that it 18 performing
relatNely well Gompared lo its
industry peers in terms o capitsl
effKiency and prolitabillty.
Reinvestment
0,02%
3.92%
3.7% The
reported
decrease
reinvestment can be attributeé lo the
decrease in capital expenditure
during the year. In 2022, there was
significant capital expenditure
associated with the finalisation of the
roof works of Victorian Cottsges
Overall. these key performance indicators refl8Gt the results for the year ended 31st De￿mber 2023 in
comparison to the industry se¢lor scoreGard, demonstrating financial strength and robust asset
management.
STATEMENT OF TRUSTEES. RESPONSIBILITIES
The trustees are responsible for preparing the Report of the Trustees and the financial slalemenls in
accordance wllh applicable law and United Kingdom Accounting Standards (United Kingdom Generally
Accepted Accounting Praclicel.
The law applicable lo charities in England and Wales. the Chariues Act 2011, Charity {Accounls and
Rewrts} Regulations 2008 and the provisions of the trust deed requires the Irustees to prepare financlal
slalements for each financial y8ar which give a true and fair view of the state of affairs of the charity and of
the incoming resources and application of resources, including the It￿Ome and expenditure, of the charity for
that period. In preparing those financial statements. the trustees are required lo
select suitable accountin9 policles and then apply them ¢onslstently:
- observe the methods and princlples in the Charity SORP..
- make judg8ments and eslimales that are reasonable and prudent.,
prepare th8 fi'nancial stalemenls on the going concern basis unless il Is Inappropriate to presume Ihal Ihe
harity wlll contlnue In business.
The trustees S￿ responsible for keeping proper accountlng records which disclose with reasonable a￿UraCY
at any time the ffinan¢lal position of the charity and to enable them lo ensure Ihal the financial slalements
compty with the Charities A¢1 2011, the Charity (Accounts and Reports) Regulations 2008, the Housing and
Regeneration Act 2008, the AcGounling Dlreclion for Private Registered Providors of Social Housing 2022,
and the provisions of the trust deed. They are also responsible for safeguarding the assets of the charity and
hence for taking reasonable steps for the prevention and detection of fraud and other irregularitles.
The trustees are responsible for the maintenance and integrity of the charity and financial infomiation
included on the charity's website. Legislation in th8 United Kingdom governing the preparation and
dissemination of finan¢ial statement5 may differ from legislation in olher jurisdlctions.
Page 6

E BERROW COThAGE HOMES
Report of the Trustees
for the Year Ended 31 December 2023
INDEPENDENT EXAMINER
The Independent Examiner has expressed hls wllllngness to contlnue Sn offlce and a proposal for his
reappolntment wll be put before the Trustees at their meeting.
Approved by order of the board of trustees on 21 May 2024 and slgned on 51$ behall by..
N J Cameron Vrrustee
Page 7

lridopondonl Examlngr's Report to the Trusto0$ of
Tho Borrow Cottage Homes
Indèpgndent examlnerfs report to the truslBeS of Th¢ Borrow Cottagg Homes
I report to the charity trustees on my exarnination of the accounts of The Berrow Cottage Homes Ilhe Trust)
for the year ended 31 December 2023.
This report is made to the Trustees, as a kndy, in accordance with the terms of my engagement. Our work
has been undertaken so that we might carry out an Independent Examination of the financial statements in
)rdance with the General Directions given by the Charity Commissioners. To the fullest exlenl permitted
law, we do not accept or assLtme re¥)onsibility to anyone other than the Charity and the Charlty's
Trustees, as a body, for our work or for this report.
Responslbilltles and basls of report
As the charlty trustees of the Trust, you are responsible for the preparation of the accounts in accordance
with the requirements of the Charities Act 2011 {'the Act'l.
Having satisf￿￿ myself that the accounts of the Charity are not required to be audited under Se¢tion 136131
of the Housing and Regeneration Act 2008, an independent examination has been Carried out.
I report in respect of my examlnatlon of the Trusl's accounts carried oul under section 145 of the Act and in
carrying out my examination I have followed all applicable Dlreclions given by the Charity Commission under
section 14q5llbl of the Act.
Indopondont examlnor's statemont
I have completed my examInal￿. l confirm that no material matters have Come to my allenlion in
connection with the examinalion giving nE ¢au$e to believe that in any material respect:
1, accountlng records were not kept in respect of the Trust as required by section 130 of the Act., or section
135{2lla} of the Housing and Regeneration Act 2008., or
2. the aKounts do not accord wlh those records.. or
3. the accounts do not comply with the applicablg requirements concerning the form and content of 8ccounts
set out in thg Charities (Accounts and Reports) Regulations 2008 other than any requirement that the
accounts give a true ar￿ fair which is not a matter considered as part ol an Independent examination.
I have no concerns and have come across no other matters in connectlon with the examination to which
allenlion should be drawn in this report in order to enable a proper understanding of the aGcounts to be
reached.
JA&a/
James Holland-Leader FCA
Knox Cropper LLP
Chartered Accountants
Office Suite 1
Haslemere House
Lower Street
Haslemere
Surrey
GU27 2PE
21 May 2024
Page 8

ThE BERROW COTTAGE HOMES
Statement ol Financlal Actlvltles
forthe Ygar Ended 31 December 2023
2023
Total
funds
2022
Total
fvnds
Unrestricted Restricted
funds
fund
Notss
INCOME AND ENDOWMENTS FROM
Donations and legades
10,676
10,676
13,050
Charltable actlvltle8
Housing Actwities
176,863
176,863
158,552
Other trading activiti83
Investm9nt income
40
Total
208 681
208,681
204,039
EXPENDITURE ON
Charltable actlvltles
Houslng Activities
137 808
170226
Net gainslllossesl on investments
10,288
25,162
NET INCOMEIIEXPENDITUREI
81,061
116,6011
64A60
8,651
RECONCILIATION OF FUNDS
Total funds brought forward
1,811,254
770,283
2,581,537
2,572,886
TOTAL FUN08 CARRIED FORWARD
1892 315
753 682
2 645.997
2,581,537
The notes form part of these financial statements
Page 9

THE BERROW corrAGE HOMES
Balance Sheot
31 Dècemb&r 2023
2023
Total
funds
2022
Total
funds
Unrestricted Restricted
fvnds
fund
Note8
FIXED ASSETS
Tangible assets
Investments
11 1,466,075
12
607 156
753,682
2,219,757
507 156
2,265,550
477,510
1,973,231
753,682
2,726,913
2,743,060
CURRENT ASSErs
Debtors
Cash al bank and in hand
13
14,306
14A06
2,973
112,167
183,788
183,768
115,140
CREDITORS
Amounts falling due within one year
14
1229,5961
1229,5961
{40,7661
NET CURRENT ASSETS
45 8281
45 828)
74,374
TOTAL ASSETS LESS CURRENT
LIABILITIES
1,927,403
753,682
2,681.085
2,817,434
CREDITORS
Amounts falling due after more than one year 15
135,0881
135,088} (235,8971
NET ASSETS
1,892 315
753 682
2,581.537
FUNDS
Unreslricled funds
Restricted funds
18
1,892,315
753 682
1,811,254
TOTAL FUNDS
2 581 537
The financial statements were approved by the Board of Trustees and authorised for issue on 21 May 2024
and were signed on ils behalf by..
N J Cameron - T
slee
C E Pontifex A.C.A- Trustee
The notes fom) part of these financial statements
Pago10

E BERROW COTTAGE HOMES
Notes to thè Financlal Statements
for th? Year Ended 31 Dec•mbor 2023
ACCOUNTING POLICIES
Bas18 of preparlng the flnan¢lal 8tatomonts
The financial statements of the charity. which is a publlc benefit entity under FRS 102. have been
prepared in accordance with the Charities SORP (FRS 1021 'Accounllng and Reportlng by Charities..
statement of Recommended Practice applicable to charities preparing their accounts in accordarKe
wlth the Financial Reporting Standard appliGable in the UK and Republic of Ireland {FRS 1021
(effective 1 January 2019),, Financial Reporting Standard 102 The Flnandal Reportlng Standard
applicable in the UK and Republic of Ireland, and the Charities Act 2011. The accounts compty with
the Charities Act 2011. the Housing and Regeneration Act 2008 and the A(xounting Direction for
Private Registered Providers of Social Housing in England 2022.
The financlal statements have been prepared under th8 historical cost convention, with the eX￿ptIOn
of investments which are included at markgt value, as modified by the revalualon of certaln assets.
The financial statements are presented in sterling, which is the functional currency of the Charity and
aTe rounded to the nearest pound.
The accounts have been prepared lo give a 'true and fair view, and have departed from the Charities
(Accounts and Reports) Regulations 2008 only to the exlent ￿qUired to provide a 'lrue and fair view,.
This dgparture invofved following Accounting and Reporbng by Charities preparing their accounts in
accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland
{FRS1021 issued on 16th July 2014 rather than the Accounting and Rewrting by Charities Statement
of Recommended Practice effective from 1st April 2005 which has since been wlthdrawn.
Golng concern
The financial slatem8nts have been prepared on a going Gon￿rn basis as the Trustees belleve that
no m8terial uncertainties exist. The Trustees have considered the level of funds held
and the expected level of Ir￿Me and expenditure for 12 monlhs from authorislng
these financial slatemenls. The budgeted income and expenditure is sufff¢ient wilh the level of
reserves ftir the Charity lo be able to ¢ontinue as a going concern.
crftlcal accountlng ludgements and koy source$ of o8tlm8tlon uncertalnty
The following are the critical judgements and key sources of estimation uncertainty that the Board has
made in ihe Pr￿esS of apptying the charity'5 accounting policies and that have the most significant
effect on the amounts recognised in the financial statements..
Identification of housing property components
The charity a¢¢ounts for ils expenditure on housing properties using component a¢counting. Under
component aGGounting, the housing property Is divided into those major components whlch are
considered lo have subslantialty different useful economic lives. Judgement is used in allocating
property costs between components (land, structure, kitchgns, bathrooms elc) and in determinlng the
useful economic lives of each componenl.
Housing property depreciation is calculated on a compongnt by component basls. The Ideniificatlon
of such components is a matter of judgement and may have a materlal impact on the depreciation
charge. The Gomponents selected are those which reflect how the major repalrs to the propety are
managed.
Income
All income is recognised once the Charity has entitlement to tho income, it is probable that the Income
will be received and the amount of inwme receivable can be m8asured reliably.
Income from housing represents housing ¢ontrlbutlons from weekly malnlenance charges from
residents.
No amount is included in the financial slatements for volunteer Ilme In line with the SORP IFRS 1021.
Page 11
continued...

ThE BERROW corrAGE HOMES
Notes to thè Flnan¢ial Statgmgnts - Contlnued
for the Year Endod 31 Docomber 2023
ACCOUNTING POLICIES - contlnued
Income
Investment Income is 8arned through holding assets for inv8slmenl purposes such as shares. It
induded dividends and interest. Where it is not practical to identify inveslm8nl management costs
incurred wthin a schem8 with reasonable accuracy the investment income is Teported nel of these
costs, It is includod when the amount can be measured reliably. Interest incomg is ￿et￿nISed
uslng the effectivg interest mgthod and dividend inGome is recognised as the Charity'$ righl lo receive
paymonl is established.
Social Housing Capital orants are recognlsed only when recelvable, or In the period in which a
scheme is completed and where the anTr)unl of the grant has been delemiined. Grants are reflected In
the reStr￿ted Housing Property Fund with depreciation on grant fvnded assets reducing this fund.
Expendltuve
Liabilities are recognised as expenditure as soon as there is a legal or constructwe obligation
commith'ng the charity to that expenditure, it is probable that a transfer of economic benefits will be
required in settlement and the amount of the obllgatlon can be measured rell8bly. Expenditure is
accounted for on an accruals basFS and has been classified under headings that aggregate all cost
related lo the category. Where costs cannot be directly attributed to particular headings they have
been allocated to activities on a basis consistsnl with the use of resources.
Tanglble flxed a￿ets
Hou8lng propertles
The original Berrow Cotlage Homes Almshouses were constructed In the late Nineteenth Century.
There is no record of the original cost but they are valued al 1st January 1926 at £2,000, with
additions since at cost belng funded by Homes England and ils predecessor bodies Grants, Mortgage
Loans, Charitable Donations, and from the Berrow Cotlage Homes, own resources.
Housing properties are staled al depreciated Cost. The ¢ost of completed houslng properbes Is
dopreciated over the life of the propertles. Properties are accounted for on a componenl cost basis
with each component being depreciated over its estimated economic life. The principal components
idenllfied and the depreciation rate applied lo each component are set out ￿low..
Yoar6
100
70
40
30
30
30
20
Fabri
Roof
Electrlcs
ndows and doors
Bathrooms
Healing, Venlilalion, Plumblng
Kitchens
Boilers
Other enhancements
10
Housing prop8rties in the course of construction are dlsclosed at cost wllhln work In progress and not
deprec5ated until the scheme is completed and the assets brought Into use.
The Charlty ¢apltallses expenditure on housing propertles whS¢h increases the nel rental stream over
the life of the property. An Inc￿aSe in the net rent81 stream may arise through an increase in rental
income, a reduction in future maintenance costs or a signilicant extension of the Ilfe of the property.
Furnlture, Flttlngs and Equlpm9nt
Depr@cialion on Furniture, Flttings and Equipment has been provided in order to wrlte off the cost over
Its expected useful life on a reducing balance basls. The rate used for thls purpose Is 10%.
Page 12
Gonlinued...

THE BERROW COTTAGE HOMES
Notos to tho Flnanclal 8tstements - contlnued
for the Year Endod 31 December 2023
ACCOUNTING POLICIES . contlnugd
Taxallon
The charity is exempt from tax on its charitable actlvities.
Fund acGountlng
Untsstricted funds can be used in accordance with the charitab]e objectlves at the discretion of the
trustees.
Restricted funds can only be used for particular restriGled purposes within the objects of the charity.
Restrictlons arise when specified by the donor or when funds are ralsed for particular restricted
purposes.
Further explanation of the natuffj and purpose of each fund is included In the notes to the financial
statements.
Pension costs and other po8t-r•tlrement boneflts
The charity operates a defined oontributlon pension scheme. Contributions payable lo the Gharlty's
pension scheme ar8 charged lo the Siatement of Financial Activilies in the period to which they
relate.
Dgbtor8
Trade and other debtors are recognised at Ihe settlement amount due after any trade discount
offered, Prepayments are valued al Ihe amount prepaid nel of any trade dlscounts due.
Cash at bank and Sn hand
Cash al bank and cash in hand indudes cash and short term highly liquid Investments with a short
maturlty of three months or less from the dale of acqulsition or opening of the deposit or similar
accounL
Crgdltors and provl8lon8
Creditors and provisions are recognised where the ¢harity has a present obligation resulting from a
past event that will probably result In the transfer of funds to a third party and the amount due lo settle
the obligation can be measured or eS￿Mated reliably. Cr9ditors and provision$ are normally
reGOgnis8d at their settlement amount after allowlng for any trade discounis due.
Flnanclal Instruments
The charity only has finaKial assets and financial Ilabililies of a kind that qualify as basic
financial instruments. Basic financial instruments are initially reco9nised at transaction value and
subsequently moasured al their settlement value with the exception of bank loans which are
subsequgntly m8asured al amortl$ed cost using the effective interest method.
OTHER TRADING ACTIVITIES
2023
2022
Other Income
40
Page 13
continued...

ThE 8ERROW corrAGE HOMES
Note8 to the Flnanclal Slatements- ¢onllnued
for the Year Ended 31 Decembor 2023
INVESTMENT INCOME
2023
2022
Investment income
Deposit account Interest
19,358
32,382
55
32,437
INCOME FROM CHARrrABLE ACTIVITIES
2023
2022
Gross maintenance contrlbutions from residonts
Gross maintenance contributions from Supporting People
Losses from voids
179,375
167.674
1,292
10 4141
176 863
158 552
SUPPORT COSTS
Governance
Costs
Man8gement
Finance
Totals
Housing Activllies
TRUSTEES. REMUNERATION AND BENEFITS
There were no trustees, remuneration or other benefits for the year ended 31 December 2023 nor for
the year ended 31 De￿mber 2022.
Tru8ts05' expen806
Total expenses reimbursed to trustees in the year were as follows..
2023
2022
Sundry expenses
Upkeep of grounds
Repairs
Administration
Outreach
Travel
375
13
713
250
31
269
46
£550
Expenses were reimbursed to 5 Trustees in the year12022.' 4).
Pag8 14
continued...

THE BERROW corrAGE HOPAES
Notes to th8 Flnanclal Stat¢ments- Gonllnued
for th• Year Ended 31 D&¢¢mber 2023
STAFF COSTS
2023
2022
Wages
Social security
Pension
Other employee benefits
3S,263
390
2,224
652
34,444
273
2,061
575
No employees ￿ceiVed emoluments in exGess of £80.000.
The average monthly number of employees duTlng the year was as follows..
2023
2022
Warden
Clerk
No employees received emoluments in excess of £60,000.
COMPARATIVES FOR THE STATEME￿ OF FINANCIAL ACTIVITIES
Unrestricted
funds
RestriGted
Jnd
Total
fvnds
INCOME AND ENDOWMENTS FROM
Donations and legacies
13,050
13,050
Charltable actlvltles
Housing ActNilies
158,552
158.552
Investment income
32,437
Total
204 039
204 039
EXPENDrruRE ON
Charltablo actlvltl88
Housing Activities
153625
170 228
Net galnsl{lossesl on Investments
25,1621
25,1621
INCOMEI(EXPENDrruREI
25,252
116,601)
8,651
RECONCILIATION OF FUNDS
Total funds brought fO￿ard
1,786.002
786,884
2,572,886
TOTAL FUND8 CARRIED FORWARD
1,811254
770 283
2 581537
Page15
contlnued...

TFIE BERROW COThAGE HOMES
NotOS to the Flnanclal Ststoment8 - conllnued
for thg Yèar Ended 31 Decomber 2023
SOCIAL HOUSING ACTIVITIES
2023
2022
Turnover from Social Housing
Operating wsts of Social Houslng
176,863
154 4091
158,552
170 2661
Operating deficlt and deficit on Social Housing ackn'vities
10. SOCIAL HOUSING GRANT
The total Social Housing Grant received for The Berrow Collage Homes as at 31st December 2023
amounted to £931,08412022'. £931,084).
The full Capital Grant would only become repayable if the Almshouses were disposed of and the grant
was not reGycled.
Aggregate amount received
At 31st December 2023
931084
Released to Statement of Financial klivities
Al 31st December 2023
931 D84)
Social Housing Grant Carrled forward
11. TANGIBLE FIXED ASSETS
Fixtures
and
fittings
Housing
properties
Plant and
maGhlnery
Totals
COST
Al 1 January 2023
Additions
Disposals
2,622,614
3,060
22,634
5A41
1.636
2,650,889
4,598
At 310ecember 2023
2 623 199
5,977
2661810
DEPRECIATION
At 1 January 2023
Charye for year
Elimingted on disposal
360.676
48.793
19,022
782
6,441
154
385,139
49,729
At 31 December 2023
407 654
432.053
NET BOOK VALUE
At 31 December 2023
2215545
2 219,767
At 31 December 2022
2.261.938
3,612
2 265 550
Page 16
¢ontinued...

THE BERROW corrAGE HOMES
Notes to the Flnanclal Statements- Corrtlnugd
forthg Year Ended 31 December 2023
12. FIXED ASSET INVESTMENTS
Listed
Inveslmenls
MARKET VALUE
At 1 January 2023
Revaluations
Accumulated dividends
477,510
10,288
At 31 December 2023
507 156
NET BOOK VALUE
At 31 December 2023
507 156
At 31 December 2Q22
477 510
There were r)0 Investment assets outside the UK.
13. DEBTORS: AMOUNTS FALUNG DUE WITHIN ONE YEAR
2023
2022
ATrears of Maintenance
contributions
Employers, Allowance
Prepayments and accrued Income
639
397
1,835
741
14,306
2.973
14. CREDITORS.. AMOUNTS FALLING DUE WITHIN ONE YEAR
2023
2022
Bank loans and overdrafts {see note 161
Taxation and sodal security
Other Gredilors
195,204
2,507
3,427
3,025
229 596
40,766
Page 17
continued...

THE BERROW COThAGE HOMES
Notes to the Flnandal Statgments- ¢ontlnu8d
forthe Ygar Endad 31 December 2023
15. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023
2022
Bank loans (see nole 161
Other creditors
193,809
235 897
LOANS
An analysis of the maturity of loans is given below..
2023
2022
Amounts falling due within one year on demand.,
Bank loans
National Association of Almshouse8 Loan
195,204
3,427
Amounts falling be￿een one and years..
Bank loans - 1-2 years
Other loans- 1-2 years
193,809
200 809
Amounts falllng due between and five years..
Other loans - 2-5 years
35,088
17. SECURED DEBTS
The following secured debts are included wlthln creditors..
2023
2022
Bank loans
195204
197.236
The bank loan is due to Barclays Bank and is securgd by a legal charge over Mary Galloway House. 2
Kenilworth Road. Knowle. Solihull. The mortgage is repayable by equal instalmenls of princlpal and
interest {at an interest rale of 2% +BoE base rate, currently 7.25%). The ear5y repayment of £450,000
was undertaken. to ￿d[￿ impact of in¢re8sing Bank Base Rates on the finances of the Trust. The
loan was lully paid March 2024.
The National Almshouse loan is unse¢ured and interest free for 10 years. (Loan received October
2019,. £3,675 slx monthly equal Snstalment8, final repayment October 2029)-
Page 18
contlnued...

THE BERROW COTTAGE HOMES
Notes to tho Flnanclal Ststements - continued
for the Year Endod 31 Do¢omb8r 2023
18. MOVEMETrU IN FUNDS
Net
movement
In funds
Transfers
be￿een
funds
Al
31.12.23
At 1.1.23
Unrestrlcted funds
General fund
Investment Revaluab'on
Cyclical Repairs
Extraordinary Repairs
Charitable Property
368,363
113,850
141,226
149,232
1038 583
60,773
10,288
127,5591
401,577
124,138
164,458
167,192
1034 950
23,232
17,960
13633)
1,811,254
81,061
1,892,315
Restrlctgd fund8
Housing
770,283
(16,601)
753.6B2
TOTAL FUNDS
2.581537 ￿60
2 645 997
Nel movement in funds, included in the above are as follows..
Incoming
resources
Resources
expended
Gains and
losses
Movement
In funds
Unre$trl¢ted lund8
General fund
Investment Revaluation
Charit8ble Property
198,581
1137,808)
60,773
10.288
10.000
10,288
208,581
{137.808}
10,288
81,061
Restrlctsd fund5
Housing
116,601)
(16,6011
TOTAL FUNDS
208 581
154,4091
Page 19
Gonlinued..-

THE BERROW COThAGE HOMES
Notes to tho Flnanclal Statemènts - ¢ontlnued
for the Year Endèd 31 Decembor 2023
18, MOVEMENT IN FUNDS- contlnuod
Comparatlvgs for movomant In funds
Net
movemenl
in funds
Transfers
be￿een
funds
Al
31.12.22
At1.1.22
Unrgstrlcted funds
General fvnd
Investment Revaluation
Cyclical Repairs
Extraordinary Rep81rs
Chaiilable Propety
235,607
303,850
120.542
138.945
987 058
50,414
(25,1621
82.342
(164,8381
20,684
10,287
51,525
368,363
113,850
141,226
149,232
1038,583
1,786,002
25,252
1,811,254
Re8trlctod funds
Housing
786.884
(16,601)
770,283
TOTAL FUNDS
2 572,886
2 581537
Comparative net movement in funds, included in th8 above are as follows..
Incoming
resources
ReSoU￿S
expended
Gains and Movemenl
losses
in funds
Unrestrlcted fund8
General fund
Investment Rèvaluatlon
204.039
(153,6251
50,414
25,162)
25 1621
204,039
1153,625)
(25.162)
25,252
Restrlctod fund8
Housing
{16,601)
(16.601)
TOTAL FUNDS
204,039
170,226
25,162)
Cycll¢al Repalr$ and Malntenance Fund
This reserve represents amounts set aside for cyclical Maintenan￿ lo meet costs in excess of
budgeted expenditure for any year.
Extraordlnary Repalrs Fund
This Revenue Reserve represents amounts S8t aside to r£rry out major repairs on Housing PrOpert￿S
Charltablg Fund Propety Fund
This represents that proportion of the cost of propertles which was financed by charitable donatlons
and the Charlty's own resources. In the year capltalised expenditure on housing pro¥rties and ban
inleresl has been transferred lo this fund and depreciation except for that relatlng lo the Social
houslng grant for housing properties have b8en transferred from this fund.
Houslng Property Fund
This represents the social housing grant received from the Houslng Corporation for property
Improvements lo the Almshouses. Depreoialion on housin9 woperties is charged lo this fund over the
life of the components of the building.
Page20
conlinugd...

THE BERROW corrAGE HOMES
Notes to the Flnanclal Statements - conllnued
for Iha Year Ended 31 Docomber 2023
19. RELATED PARTY DISCLOSURES
There were no related party transactions for the year ended 31 December 2023.
20. UNITS IN MANAGEMENT
The Charity had 30 units in Management durlng the year.12022.' 301-
Page 21

THE BERROW COTTAGE HOMES
Detalled Statgmgnt of Flnanclal Actlvltles
for Ihe Year Ended 31 Decembor 2023
2023
2D22
INCOME AND ENDOWMENTS
Donatlons and legacles
Donations
10,676
13,050
Othèr tradlng actlYltlo$
Other income
40
Inv051mont Income
Investment Income
Deposit account interest
19,358
1,644
32,382
55
21,002
32,437
Charltable actlvltl98
Housin9 Activities- Residents
Housing AGlivities- Supporting People
Losses from voids
179,375
167.674
1.292
176863
158 552
Totsl Incomlng resources
208,681
204,039
EXPENDITURE
Charltable actlvltles
Warden's salary
Social security
Penslons
Rates and water
InsuranGe
Light and heat
TelephDne
Property repairs & maintenance
Cleanlng
Alarm costs
Warden's utilities
Grounds malntenance
Council lax
Depreciation of housing propert
Fixtures and fittings
Loss on sale of tsnglble fixed assets
21,569
390
2,876
435
3,527
3,470
1,889
19,237
615
3.243
2.710
7,608
20,873
273
2,C61
208
3,111
5,055
977
23,081
716
3,021
2,974
9,121
48,793
936
660
51,526
782
4,475
117,958
128.520
Support costs
Managèment
Clerks, salary
Cairied forward
13,694
13,894
14,146
14,146
This page does not form part of the statutory financial statements
Page 22

THE BERROW COTTAGE HOMES
Detallod Statement of Flnanclal Acllvlt195
for the Year Ended 31 Docembfjr 2023
2023
2022
Management
Brought forward
Twstee irsdemnty insurance
Postage and stslionery
Advertising
Sundries
Subs¢riptions
Donations
Professional fees
Training
13,694
358
232
400
564
935
25
1,800
141
14,146
358
500
400
772
892
20
72
18,149
17,160
Flnanco
Bank charges
Loan
25
15.848
22,296
Govomance costs
Independent Examination
2,250
Total resources expended
154409
170226
Nfrt Income
This page does nol form part of the statutory financial statements
Page 23