REGISTERED CHARITY NUMBER.. 1175027
Report of the Trustees and
Unaudlted Flnanclal Statements for the Year Ended 31 December 2024
for
THE BERROW COThAGE HOMES
KNOX CROPPER
charleied ac=ountanls

THE BERROW COTTAGE HOMES
Contents of the Financlal Statemènts
for the Year Ended 31 Dècember 2024
Page
Refarence and Admlnlstrative Detalls
Report of the Trustees
Independent Examlner'8 Report
Statement of Flnanclal Actlvltles
Balance Sheet
10
Notes to tha Flnanclal Statements
11 to 21
D8tall¢d Statement of Flnanclal Actlvltles
22 to 23

THE BERROW COTTAGE HOMES
Rèference and Admlnlstratlve Detallg
for the Year Ended 31 December 2024
TRUSTEES
N J Cameron Chaiman
TJCorns
Dr J A Hagon Vice Chairman
Mrs J Hogg (resigned 28.2.25)
Mrs C Lewthwaite
R WPitt
C E Pontrfex A.C.A Treasurer
Mrs E M Wlkin
D Whiting
Rev G Lanham Ex-OffKio Trustee
PRINCIPAL ADDRESS
Mary Galloway House
2 Ken[￿orth Road
Knowle
Solihull
West Mldlands
B93 OJA
REGISTERED CHARITY NUMBER 1175027
INDEPENDENT EXAMINER
Knox Cropper LLP
Chartered Accountants
Office Suite 1
Haslemere House
Lower Street
Haslemere
Surrey
GU27 2PE
SOLICITORS
Standley & Co
1612-1618 High Street
Knowle
Solihull
West Midlands
B93 OJU
BANKERS
B8rclays Bank plc
19-21 Mell Square
Mill Lane
Sollhull
West Midlands
B913AR
Page 1

THE BERROW corrAGE HOMES
Report of the Trustees
for the Year Ended 31 December 2024
The trustees present their report with the financial statements of the charity for the year ended
31 December 2024. The trustees hav& adopled the provisions of Accounting and Reporting by Charitles..
Statement of Recommended Practice applicable to charrties preparing their accounts in accordance with the
Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019).
OBJECTIVES AND ACTIVITIES
ObJeGtlv¢s and alms
The Charity exists to maintain and manage 30 almshouse6 (including 1 occupied by ihe warden) in its ownership
for the benefit and welfare of people in need of housing provision. principally in the village of Knowle and the
surrounding 8rea5. in accordance with the original Trust deed.
Slgnlllcant actlvltles
The trustees have the objectives of keeping all the properties and gardens in good condition, thereby providing a
comfortable and sale environment for each resident; complying with the Decent Homes Standards and ensuring
that the properties ara in demand. To achieve thi8 Stated objecllve, plan8 were devised to further upgrade the
Vlctorian Cottages, and in so dolng Improve their EPC ratings. Other aim8 for the year were to continue
reviewing and updating the policles of the Trust to ensure that they reflect best practice; to review the risk
assessments for the Trust., to continue to monitor the wellbeing of the residents and to mitigate against the
effacls of Bank Base Rate fluctuations and other cost of living pressures on the financés of the charity.
Publlc beneflt
The charily provide8 public benefit by providing soclal housing by way of Almshouses to thos8 who are unable to
afford commercial rents. By being in close contact with these individ uals the charity can ensure their health and
wellbelng is prolected.
Grantmaklng
It 13 not the policy of the Trustees to make grants.
ACHIEVEMENT AND PERFORMANCE
Charltable actlvltle3
During lh8 year, the bay windows of the listed Victorian Cottages were replaced to increase the levels of
insulation in Ihe properties, thereby improving their energy efficiency. The prccess of revSewing the trust's
policies and its risks was continued. The Trust's bank loans were repaid on their repaym8nt dale, re8ulling in
more eff icient use of the Trust's resources. which together with very high levels of property occupancy led to
improved cash generation. A tenant's satisfaction survey was undertaken, 88 raqulred by the Regulator of Social
Housing, the results of whlch showed high levels of tenant 881isfaction.
Page 2

THE BERROW COTTAGE HOMES
Report of Ihe Trustee$
for the Year End•d 31 De¢emb¢r 2024
FINANCIAL REVIEW
Flnanclal po8ltlon
Turnover from Soci81 Housing leltings rose by £18.443 to £195,306 compared to last y8ar (2023., £176,863),
This increase is primarily due lo high8r W88kly Maintenanc8 Charges and a reduction in voids throughout the
year.
Operatlng expendlture has been effedivety monitored in the year, despite a slight Increase compared to last
year, as detailed below:
Charltable Activty Costs increased by £14,673 to £132,631 (2023.. £117,958), driven by a) £4,306 in higher
losses on the sale of tangible assets: b) £8,594 in additional propety repairs and maintenance expenses,
Support Costs have increased sl'ghtly by £737, totalling £18,886 {2023', £18,149).
Th8 net income from ch8rrtable actrvltSes Ss reported at £73,746, whlch Sncludes gains on invèstments of
£9,294, compared to £10.288 in 2023. Interest payable on loans amounted to £4.251, significantly lower than the
£15,848 in 2023, due to the repayment of the Barclays Bank Loan in March 2024.
Investment Income declined by £2,945 to £18,057 (2023.. £21,002) as a result of investmént disposals during
2024.
As 8 result, the Balance Sheet shows an increase in reserves of £73.746, representing the net income for the
year. This figure consists of a surplus of £89,425 on unrestricted funds and a deficit of £15,679 on restricted
funds, which reflects the depreciation charge released against the social housing grant,
Investment pollGy and obJectlve8
Th8 Investments are m8n8ged by the Trustees who have Opted to inve8t In Accumulation shares of the M&G
Charily Multi Asset Fund,
ReseNe8 poIIcy
The National Association of Almshouses requires that Suff￿lent sums lo be set aside as investments to generate
necessary funds mainly for the maintenance and repalrs of th6 Almshouses,. thls is 8chleved by setting aside
annually the amount admsed by them. Accumulation Fund dividends are alk)w6d to accumulate in tha resérv88
unless required for exceptional expenditure.
Total Unrestrlct8d ReseNes of the Charity amount to £1,981,740 of which £1,388,754 have been designated,
£100.634 relat8s lo the I nvestment Revalualion Resep4e and £492,352 comprises the Income and Expenditure
Account.
Restricted ReseNes amount lo £738,003 and represent social housing grants received net of the depreciation
element of the housing properties funded by the granls.
Details of these reserves are set out in Note 18 to Ihe Financial Statements.
FUTURE PLANS
These will be to ensure that the Almshouses continue to be well maintained and in so doing provide comfortable
accommodation for the residents. P13ns are being drawn up for further improvements lo the Victorian Properties,
which will further enhance their energy eff￿lenCy. The trustees intend to continue to maintain 8n enhanced level
of tenant invofvement, by continuing to adopt the National Regulator of Social Housing Tenant Satisfaction
Surveys.
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
The Charity is a Chari18ble Incorporated Organisation (CIO) and is controlled by its governing document, the
foundation registered on 9th October 2017, and as amended on 1st February 2018 and 4th June 2018. The
CIO'S Registered Number is 1175027 and it is also regulated by the Regulatt)r of Social Housing (5051).
Page 3

THE BERROW COTTAGE HOMES
Report ol the Trustees
for tha Year Ended 31 December 2024
STRUCTURE, GOVERNANCE AND MANAGEMENT
Recruitment and appointment of new trustees
Trustees are recruited as required with the aim of having a Board of Trustees with a range of relevant skills and
experience. New Trustees are inducted by the Board and are able to attend courses run by the Almshouse
Association and olhers.
Organlsatlonal structure
The Board of Trustees met four times in 2024 to deterniine strategy and policy and they employ a Warden and
Clerk to ensure that residents, needs are mel and that the income and expenditure of the Charity is managed
efficiently. Truslees serve on sub commiitees including Hea￿h and Safety, Finance, Buildings, Residents,
Selection, Residents. Welfare and Fundraising in order to facilitate day-t(>day management and resklents,
welfare issues. The Warden is avallable to offer reasonablè non nurslng assistance to frail residents and liaise
with Social Services to ensure that resldents are able to maintain independent residence until they requlre full
time residential care.
The Clark to the Trust888 prepares monlhly cumulative cash ac￿unt8 and cumulative statements of
contribution8 due from residents tog6ther with a reconciliation to th& bank balances. Th&s& are scrutinised by lh&
Treasurer who prepares an annual budget and provides performance reports for each meeting of the Trust8es.
The bank mandate requires Iwo authoiised persons for all payments. Insurance and Ri8ks are reviewed
annually.
The Trustees also conllrm that they have had regard for the Charity Commlssion guldance In respect of publlc
beneflt wh8n revlewing the charlly's alms and objectives and plannlng fulure activilies.
Code of Governance
The code of govemance adopted by lh8 Trustees is the Charity Governance Code for Smaller Charities, as this
best fits with the aims and objectlves of The Berrow Cottage Homes as an Almshouse Charity 2nd represents a
standard of good governance practice to which all charitie8 should aspire.
The Board of Trustees confims compliance with the Governance and Financhal Viability Standard. In dolng so,
the Board confirms that It has an appropriate, robusl and prudent business plannlng, r5sk and control framework
in place,
Page 4

THE BERROW COTTAGE HOMES
Report of the Trustee8
for the Year Ended 31 Dacembèr 2024
STRUCTURE, GOVERNANCE AND MANAGEMENT
Rlsk management
The Trustees have given consideration to the major risks to which the charity is exposed and have reviewed the
established systems and procedures lo manage these risks and to ensure appropriate conirols are in place to
provide reasonable assurance against fraud and error.
Thè Board's focu8 in the year was on the below principal risks:
Maintainin
Pro
ies to Decent Homes Standards
Reports are made to the Board and eaGh meeting to ensure all propertles and inspections are up to date. A
programme of works is In place for component replacements.
Maintainin
ood s8rvice levels to residents
The Berrow Cottage Homes adopts an open forum of communication belw88n residents and key management
personnel, During the year residents continued to be rnore involved with the operations of th8 Charty and th8
welfare of fellow residents, by providing key feedback to the Trustees at their regular vlsits and through a
Regulator of Housing re8idents' satisfaction Sur￿eY.
Effe
tiv
na
hari
The Board continue to monitor the Charity's resource8 and particularly its finances given the economic
uncertalnties currently impacting the cost of living for the residents and the charity in maintaining the properties.
Glven the investments held by the charity, the Trustees are confident Ihal the charity is able to continue
delivering its objectives.
Page S

THE BERROW COTTAGE HOMES
Report of the Trusle08
for Ihe Year Ended 31 December 2024
VALUE FOR MONEY (VFM)
Each year the Charity uses a range of data to measure VFM progress against the housing sector. The results
help influence investment decisions and provide the regulators and other stakeholders with information on the
progress of the Charity. whilst also ensuring compliance wtth the regulatory VFM standard. The metrics hav&
been compared to to the Acuity smaller providers 2023124 results.
Motrlc
2024
2023
Aculty
Scorecard
Commentary
O%The Charlty has 30 Almshouses In
management. This remains as per the
previous year, with no new supply of
social or non-social houslng.
New supply
d81ivered
Ovo
Gearing
(3.93%)
7.17%
16% The Charity's
has
much lower
borrowing5 and Iherefore lower inlergsl
in the year.
EBITOA MRI
1,814.440h
699.48CA+
218% EBITDA margln comparing to 2023 has
increased, exceeding industry average.
The increase can be attributed to
higher operating surpluses and effective
cost management.
Social Houslng
Cost Per Unit
£5,024
£3,072
£5,720 Lower voids compared to 2023, but
higher capitalised costs reflect the
increase in Social Housing Costs per
unit during the year.
Op8ratlng
Margin Overall
26.290
16.06% The operating margin increase indicate5
that The Berrow Cottage Homes
became more profitabla r8lative to its
revenue in 2024 compared to 2023,
outperforming the Industry Benchmark.
18.82% The operating Social Housing Lettings is
0.55% lower than in 2023, however
remains
above
industry
average,
continuing to achieve superior returns
on its social housing lellings relative to
industry peers.
Social Housing
Lettings only
21.110
21.66%
ROCE
2.35%
2.029
2.640A The increase in ROCE indicates that the
Charity generated higher profrts relative
to the capital employed in its operation8
during 2024. However, the reported
ROCE is slightly balow the industry
average. implying that its capital
efficiency ané profitabilily are just below
those of rts industry peers.
p￿e6

THE BERROW COTTAGE HOMES
Roport of thè Trustse8
for the Year Ended 31 December 2024
Reinveslment
1.770
0.02Q
2.630/0 The reported increase In ￿inVeStMent
can be attributed lo the increase in
capttal expenditure during the year due
to the replacement of four bay windows
at Kenilworth Road.
Over811, these key performance indlcators reflect the results for the year ended 31st December 2024 in
comparlson to the industry sector scorecard, demonstrating financial str8ngth and robust asset management.
STATEMENT OF TRUSTEES, RESPONSIBIUTIES
The trustees are responsible for preparing the Report of the Trustees and the financial statements in accordance
with applicable law and Unrted Kingdom Accounting Standards (United Kingdom Generally Accapted Accounllng
Practice).
The law 8pplicable to charities in England and Wales. the Charities Act 2011, Charlty (Accounts and Reports)
Regulatlons 2008 and the provisions of the trust deed requires th8 trustees to prepar8 flnancial statements for
each financial year which give a true and fair view of the state of affairs of the charity and of the incoming
re80urces and application of resourcès, including the income and expenditure, of the charity for that period. In
preparing those financial statements, the trustees are required to
select suitable accounting policies and then appty them consistently;
- observe the methods and principles in the Charity SORP;
make judgements and estimates that are reasonable and prudent,,
prepare the financlal statemenls on the going concern basis unle63 it is inappropriale to presume that the
charity wlll continue in business.
The trustee5 are responsible for keeping proper accounting records which disclose with reasonable accuracy at
any time the financlal position of the charity and lo enable them to ensure that the financial statements comply
with the Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008. the Housing 8nd
Regeneration Act 2008, the Accounting Direction for Private Registered Providers of Social Housing 2022, and
the provisions of the trust deed. They are also responsible for safeguarding the assets of the Gharity and hence
for taking reasonable steps for the prevention and detection of fraud and clhor irregu18rities.
The trustees are responsible for the maintenance and integrity of the charity and financial informatlon included
on the charity'8 website. Legislation in the United Kingdom governing the pieparation and dissemlnation of
financial statements may differ from legislation in other jurisdictions.
INDEPENDENT EXAMINER
The Independ8nl Examiner has expressed his willingness to contlnue in office and a proposal for hi8
reappointment wlll be put before the Trustees at their meeting.
Approved by order of the board of trustees on 20 May 2025 and signed on its behalf by:
N J Cameron - T
tee
Pag8 7

Independent Examlner's Reportto the Trustses of
The Berrow Cottage Homes
Independent examlner's report to the trustees of The Berrow Cottage Homes
I report to the charity trustees on my examination of the accounts of The Berrow Cottage Homes (the Trust) for
the year ended 31 December 2024.
This report is made to the Trustees, as a body. 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
accordance with the General Directions given by Ihe Charity Commissloners. To the fullest extent permitt8d by
law, we do not accept or assume responsibility to anyone other than the Charity and the Charky's Trusle&s, as a
body, for our work or for this report.
Responslbllltles and bas18 of report
As the charity trustees of the Trust. you are responsible for the preparation of the accounts In accordance with
the requirements of the Charities Act 2011 ('th8 AGt').
Having satisfied myself that the accounts of the Charity are not required to be audited under Seclion 136(3) of
the Housing and Regeneration Acl 2008, an independent examination has been carried out.
I report in respect of my examwiation of the Tru8t'8 accounts carried out under Section 145 of the Act and In
carrying Out my examination I have followed all applicable Directions given by the Charity Commission under
section 145(5){b) of the Act.
Independent examlner's statement
I have completed my examination. I confirm that no material matters have come to my attgntlon in connecllon
with the examination giving me cause to believe that in any material respecl:
1, accounting records were not kept in respect of the Trust as required by section 130 of the Act; or section
135(2){a) of the Houslng and Regeneration Act 2008: or
2, the accounts do not accord wlth those records,. or
3, the 8ccounts do not ¢ompty with tha applicable requirements concerning the fomi and content of accounts set
out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the aGcoun16 give
a true and fair view which is not a matter considered as part of an independent examination.
I have no concerns and have ccyne across no other matters in connection with Ihe examlnatlon to which
attention should b8 drawn in this report in order to ènable a proper understanding of the accounts to be reached.
/Hts.J LL/
Jam8s Holland-Le8der FCA
Knox Cropper LLP
Chartered Accountants
Office Suit6 1
Haslemere House
Lower Street
Haslemere
Surrey
GU27 2PE
20 May 2025
Page 8

THE BERROVV COTTAGE HOMES
Statement of Flnanclal Act￿ltI0$
for the Year Endod 31 December 2024
2024
Total
funds
2023
Total
furKIs
Unrestrict&J
fvnds
Reslricled
fijnd
Notes
INCOME AND ENDOWMENTS FROM
Donatlons and legacies
9.400
9,400
10,876
Charitable activltles
Houslng Activities
196,306
195,306
178,883
Olh8r trading activit￿$
Investment income
25
18,057
25
40
21,CQ2
Total
222 788
208,561
EXPENDITURE ON
Charltable activltles
Housing Actlvities
142 657
158,336
154,409
Nat gains on investments
10,288
NET INCOMEI(EXPENDITURE)
89,426
(15.8791
73.746
64,460
RECONCILIATION OF FUNDS
Total funds brought foDNard
1.892,315
753,682
2,645,997
2,581,537
TOTAL FUNDS CARRIED FORWARD
1981740
738 003
2719743
2,645,997
The notes fom part of these finandal slatemenls
Page 9

THE BERROW COTTAGE HOMES
Balance Sheet
31 De¢embgr 2024
2024
Total
funds
2023
Total
funds
Unrestricted
furKI8
Restricted
fund
Notes
FIXED ASSETS
T8ngible assets
Investmenls
11
12
1,477,760
424.932
738,003
2,215,763
424,932
2,219.757
507.156
1,902,692
738,003
2,640,696
2.726,913
CURRENT ASSETS
Debtors
Cash at bank and in hand
13
1,615
138 177
1,615
138 177
14.
169,462
139.792
139,792
183,768
CREDITORS
Amounts falling due within one year
14
(32.656)
132,656)
(229,596)
NET CURRENT ASSETS
107 136
107 136
(45,828)
TOTAL ASSETS LESS CURRENT
LIABILITIES
2,009,828
738,003
1747,831
2,681,085
CREDITORS
Amounts falling due after more than one year 15 ￿28 088)
28 088)
{35.0881
NET ASSETS
1981740
738 003
2 719 743
2,645,997
FUNDS
Unrestricted funds
Restricted funds
18
1,981,740
738 003
1,892,315
753 682
TOTAL FUNDS
2719 743
2 645 997
The financial statements were approved by the Board of Trustees and aulhorised for issue on
2Q May 2025 and were signed on its behalf by:
N J Cameron- Trus
C E Pontifex A.C.A - Trustee
The notes form part ol these financial statements
Page 10

THE BERROW COTTAGE HOP41ES
Notès to the Flnanclal Slatements
for the Year Ended 31 December 2024
ACCOUNTING POLICIES
Basis of preparlng the flnanclal statements
The financial statements of the charty, wh￿h is a public benefit entity under FRS 102, have been
pr6pared in accordance with the Charities SORP (FRS 102) 'Accounling and Reporting by Charities..
Statement of Recommended Practice applicable to charities preparing their accounts in accordance with
th8 Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 1021 (8ff8Ctive 1
January 2019),. Financial Reporting Standard 102 'The Flnancial Reporting Standard applicable in the UK
and Republic of Ir8land' and the Charities Act 2011. The accounts comply with the Charities Act 2011, the
Housing and Regeneration Act 2008 and the Accounting Direction for Private Registered Provlders of
Social Housing in England 2022.
Th8 financial statements have been prepared under the historical cost convention. with the exception of
investrnenls which are included at market value, as modrfied by the revaluatK>n of Gertain assets.
The financial statements are presented in sterling. which is the functional currency of the Charity and are
rounded lo the nearest pound.
The acGount3 have been prepared to glve a 'true and fair vieW and have departed from the Charlties
(Accounts and Reports) Regulations 2008 only to the extent r&quired to provide a Irue and fair vlew,.
This departure involved following Accounting and Reporting by Charlties preparing their accounts In
accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland {FRS102)
issued on 16th July 2014 rather than the Accounting and Reporting by Charifies Statement of
Recommended Practice effective from 1 st April 2005 which has since been withdrawn.
Golng concern
The financi81 statement8 have been prepared on a going concern basis as the Trustees balieve that no
material uncertainties exist. The Trustee5 have considered Ihe level of funds held and the
expected level of income and expenditure for 12 months from authorising thesa financlal
statements. The budgeted income and expenditure is sufficienl with the level of r8serves for the Charlty
to be able to continue as a going concern.
crftlcal accountlng Judgements and key sources of estlmatlon uncertalnty
The followlng are the critical judgements and key sources of estimation uncertalnty that the Board has
made in Ihe procass of applying the charity's accounting policies ard that have the most signifi'cant effect
on the amount8 recognised in the financial statement8:
Identrfication of housing propety components
The charity accounts for its expenditure on housing propertles using component accounting. Under
omponent 8ccounting, the housing property 16 divided into those major components which are
considered to have substantially differenl useful economic lives. Judgement is used in allocating
property costs between components (land, structure. kitchens, bathrooms etc) and in determining the
Useful economic lives of each component.
Housing propety depreciation is calculated on a component by component basi5. The identificatk)n of
such components is a matter of judgement and may have a material impact on the depreciation charge.
The components selected are those which reflect how the major repairs to tha propèrty are managed.
Income
All income is recognised once the Charity has entitlement to the income, it is probable thal the income will
be received, and the amount of income receivable can be measured reliably.
Income from housing represent8 housing contributions from weekly maintenance charges from residents.
Pagè 11
ontinued...

THE BERROW COTTAGE HOMES
Notés lo the Flrmnclal Slatsments - ¢ontlnued
for the Year Ended 31 December 2024
ACCOUNTING POLICIES- continued
Income
No amount is included in the financial Statements for volunteer time in line with the SORP (FRS 102).
Investment income is earned through holding assets for investment purposes such as shares.
included dividends and interest. Where it is not praclical to identify investment management costs
inCu￿ed within a scheme with reasonable accuracy the inv8stm&nt income is reported nel of these costs.
It is included when the amounl can be measured reliably. Interest income is recognised using the
eff8cllve interest method and dividend income is recognised as th8 Charity's rlght to receive payment is
established.
Social Houslng Caprtal grants are recognised only when receivable, or in the period In which a scheme is
ompleted and where the amount of the grant has been determined. Grants are reflected in the restricted
Housing Properly Fund with depreciation on granl funded assets reducin9 this fund.
Expendlturo
Liabilities are recognised as expenditure as soon as thèr& Is a legal or constructive obligation committing
the charty to that expenditure. it is probable that a transfer of 8conomic benefits will be required in
settlement and the amount of Ihe obligalion can be measured reliably. Expenditure is accounted fDr on an
accruals basls and has been classified under headings that aggregate all cost related to th8 ca18gory.
Where cosls cannot be direct￿ attributed to particular headings they have bean alloc8ted to actlvltie8 on
a basls consistent with the use ol resources.
Tanglble foxed assets
Houslng propertles
The original Berrow Cottage 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
slnce at cost being funded by Homes England and its predecessor bodles Grants, Mortgage Loans,
Charitable Donations, and from the Berrow Cottage Home8, own resource8.
Housing properties are stated at depreciated cosl. The cost of completed housing properties Is
depreciated over the life of the properties. Properties are accounted for on 8 component cost basis with
each component being depreciated over its estimated economic life. The prlnclp81 ¢omponents
identified, and the depreciation rate applied lo each component are set oul below:
Years
100
70
40
30
30
30
20
16
10
Fabrlc
Roof
Electrics
Windows and doors
Bathrooms
Heating, Venlilation, Plumbin9
Kitchens
Boilers
Other enhancements
Housing properties in the course of construction are disclosed at cosl within work in progress and not
deprecialed until the schem8 is completed and ihe assets brought into use.
The Charity capitali8e8 expenditure on houslng properties which increases the net rental stream over the
lrfe of the property. An increas8 in the net rental stream may arise through an increase in rantal incom8,
a reduction in future maintenance costs or a significant extension of the life of the property.
Page 12
ortinued.,.

THE BERROW COTTAGE HOMES
Notes to thè Flnanclal Slatements - contlnued
for the Year Ended 31 December 2024
ACCOUNTING POLICIES- continued
Tanglble flxed assets
Furnlture, Fkitlngs and Equlpment
Depreciation on Furniture. Fittings and Equipment has been provided in order to write off the cost over its
expected useful life on a reducing balance basis. The rate used for this putPOS8 18 1 OVO.
Taxatlon
The charity is exempt from lax on its charltable actrvities.
Fund accountlng
Unrestricted funds can be used in accordance with the charitable objective8 at the discrelion of the
trustees.
Restrlcled funds can onty be used for particular r8Strict8d purposes wilhln the objects of the charity.
Restrictions arise when specif￿d by the donor or when funds are raised for particular restricted purposes.
Further explanatlon of the nalure and purpose of each fund 18 included In the notes to the financial
gt8temants.
Pension Costs and other post-retlrement beneflts
The charity operates a defined contribution pension scheme. Contributions payable to the charty's
pension scheme are charged to the Statement of Financial ActNities in tha period to which Ihey relate,
Debtors
Trade and other debtors are recogni8ed at the settlement amount due after any trade discount offered.
Prepayments are valued at the amount prepaid net of any trade discounts due,
Cash at bank and In hand
Cash at bank and cash in hand includes cash and short term highly liquid investments with a short
maturity of three months or less from the dale of acquisition or opening of the deposit or slmllar account,
Credltors and provlslons
Creditors and provisions are recognised where the charity ha8 a presenl obligation re8ulling from a past
event that will probabty result n the transfer of funds to a third party and Ihe amounl due to Settle the
obligation can be measured or estimated reliably. Creditors and provlsions arg normally rewgni5ed at
their selllement amount after allowing for any trade discounts due.
Flnanclal instruments
The charity only has financial assets and financial liabilities of a kind thal qualify as basic
financial instruments. Basic financial instruments are initially recognlsed at transaction value and
subsequently measured at their settlement value with the eXCept￿)rn of bank loans which are
subsequently measured at amortised cosl uslng the effective interest method.
Page 13
contlnu8d...

THE BERROW corrAGE HOMES
Nots8 to tho Flnanclal Stst8ments - contlnuod
for the Year Ended 31 December 2024
OTHER TRADING ACTIVITIES
2024
2023
Other income
25
40
INVESTMENT INCOME
2024
2023
Investment income
Deposit account interest
15,743
2.314
19,358
1,644
INCOME FROM CHARITABLE ACTIVITIES
2024
2023
Gross maintenance contributions from residents
Gross maintenance contributions from Supporting People
Losses from volds
195,681
179,375
195,306
176 863
SUPPORT COSTS
Governance
costs
Management
Finar
Totals
Housing ActNitie8
4,251
TRUSTEES. REMUNERATION AND BENEFITS
Th8re were no trustees, remuneration or other benefits for the year ended 31 December 2024 nor for the
year ended 31 December 2023.
Trustees, expenses
Totsl expenses reimbuis8d 10 trustee8 in the year were as foll￿S.
2024
2023
Sundry expenses
Grounds maintenance
Repairs
Administration
Outreach
Travel
100
61
412
375
13
713
46
£1,062
Expenses were reimbursed to 5 Trustees In Ihe year (2023: 5).
Page 14
continued...

THE BERROW COTTAGE HOMES
Notes to tho Flnanclal Statements - contlnued
for the Year Ended 31 December 2024
STAFF COSTS
2024
2023
Wages
Social security
Pension
Other employee benefits
37,034
468
2,371
722
35.263
390
2,224
652
40,595
38,529
No employees receiv8d emoluments in excess of £60.000.
The average monthly number of employees during the yearwas as follows:
2024
2023
Warden
Clerk
No employees received emoluments in excess of £60,000.
COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
Unrestricted
fuThl$
Restricted
lund
Total
fund8
INCOME AND ENDOWMENTS FROM
Donations and legacies
10.676
10,676
Charltable actlvltles
Housing ActivitieB
176,863
176,863
Other trading actlvlties
Investment income
40
21.002
40
21,002
Total
208 581
208 581
EXPENDITURE ON
Charltable actlvltles
Housing Activities
137,808
16,601
154,409
Net gains on investments
10,288
10,288
NET INCOMEIIEXPENDITURE)
81.061
(16,601)
64,460
RECONCILIATION OF FUNDS
Total funds brought forward
1811254
770 283
2 581537
TOTAL FUNDS CARRIED FORWARD
Page 15
continued.,.

THE BERROW COThAGE HOMES
N¢te$ lo the Financial Slatsments - contlnued
for the Year Ended 31 December 2024
SOCIAL HOUSING ACTIVITIES
2024
2023
Turnover from Social Housing
Operating costs of Social Housing
195,306
158,336)
176,863
154,409)
Operating deficlt and delicii on Social Houslng activilles
10. SOCIAL HOUSING GRANT
The lolal Soci81 Housing Grant received for The 8errow Cotlage Homes as at 31st December 2024
amounted to £931,084 (2023.. £931,084).
The full Capital Grant would only become repayable if ihe Almshouses were disposed of and the grant
was not recycled.
Aggregate amount received
At 31st December 2024
931,084
Released to Statement of Financial Activitie8
At 31 st December 2024
(931,0841
Social Housing Grant Carried forward
Paga 16
ontinued...

THE BERROW CQThAGE HOMES
Note8 to the Flnanclal Slatements . ￿ntInUed
lor the Year Ended 31 December 2024
11. TANGIBLE FIXED ASSETS
Fixtures
and
fittings
Housing
properties
Planl and
machlnery
Tolals
COST
At 1 January 2024
Additions
Disposals
2,623,199
51,527
22,634
358
6.977
2,651,810
51,885
At 31 December 2024
2 667 487
2 696 456
DEPRECIATION
At 1 January 2024
Charge for year
Eliminated on dlsposal
407.664
49,941
19,804
819
4,595
163
432,063
50,913
At 31 December 2024
455 322
4,748
480 693
NET BOOK VALUE
At 31 December 2024
2 212 165
2 2q5763
At 31 December 2023
2,215,545
2.830
1,382
2,219,757
12.
FIXED ASSET INVESTMENTS
Listed
investments
MARKETVALUE
At 1 January 2024
Addltions
Disposals
Revaluations
Accumulated dividends
507,156
42,739
(160,000)
9,294
At 31 Decembar 2024
424 932
NET BOOK VALUE
At 31 December 2024
424 932
At 31 December 2023
507,156
There w8r8 no investment assets outside the UK.
Page 17
contlnued...

THE BERROW COTTAGE HOMES
Note8 to the Flnanclal Ststeménts - conllnued
for the Year Ended 31 December 2024
13.
DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024
2023
Arrears of Maintenance
contributions
Other debtors
Prepayments and accrued income
706
46
B63
639
13.667
14.306
14.
CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024
2023
Bank loans and overdrafls (see note 16)
Taxation and social security
Other credilor8
195.204
2,507
31.885
1,293
229.598
15.
CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024
2023
Other creditors
35,088
16.
LOANS
An analysis of the maturity of loans is given below:
2024
2023
Amounts falling due wlthln one year on demand:
Bank loans
National Association of Almshouses Loan
195,204
7,CQO
7,000
7,000
202,204
Amounts falling between one arKI two years..
Other loans - 1-2 years
7,000
7,000
Amounts falling due between two and rp￿ years:
other loans - 2-5 years
28.088
Page 18
contlnued...

THE BERROW COTTAGE HOMES
Notes to the Flnanclal Stalements - contlnued
for the Year Ended 31 December 2024
17. SECURED DEBTS
The Barclays Bank loan that was secured by a legal charge over Mary Galloway House, 2 Kenilworth
Road, Knowle, Solihull. was fulty paid in March 2024 (2023.. £195.204). As as result. the charge over the
Trust's asset was released.
The National Almshouse loan is unsecured and interest free for 10 years. (Loan received October 2019,,
£3,675 six monthly equal instalmenls, final repayment October 2029).
18.
MOVENIENT IN FUNDS
Net
movement
in funds
Transfers
be￿en
funds
At
31.12.24
At1.1.24
Unrestrlcted funds
Gen&ral fund
Investment Revaluatlon
Cyclical Repairs
Extraordinary Repairs
Charitable Property
401,577
124,138
164,468
167,192
1034 950
71,131
9,294
19,644
132,7981
16,333
18,687
492,352
100,634
180,791
185,879
1022 084
1,892,316
89.425
1,981,740
Restrlcted funds
Housing
753.682
(15,679)
738,003
TOTAL FUNDS
2 645 997
2,719 743
N9t movement in funds, included in the above are as follows:
Incfjmlng
resources
Resources
expended
Galns and
losses
Movement
In funds
Unrestrlcted fund$
Gener81 fund
Investment Rev81uation
Charltable Property
213,788
1142,657
71,131
9,294
9,294
222.788
1142.6571
9.294
89.425
Restricted funds
Housing
116,679
(16,679
TOTAL FUNDS
222 788
168,336
9,294
Page 19
continued...

THE BERROW COTTAGE HOMES
Notes to the Financial Ststemerrts - continued
for the Year Ended 31 December 2024
18.
MOVEMENT IN FUNDS - continued
Comparatlves for movement In funds
Net
movement
in funds
Transfers
between
funds
At
31.12.23
At1.1.23
Unrestricted funds
General fund
Investment Revaluation
Cyclical Repairs
Extraordinary Repalrs
Charltable Property
368,363
113.850
141.226
149,232
1,038 583
60,773
10,288
(27.559)
401.577
124.138
23,232
164.458
17.960
167.192
13,633
10,000 ￿ 1034,950
1,811,254
81.061
1,892.315
Restrlcted fu nd8
Housing
770,283
{16,601)
753,682
TOTAL FUNDS
2 581537
64,460
2,645,997
Comparative net movement in funds, included in the above are as follows:
Inccfflm
resourc08
Resourc8$
expended
Galns and
losses
Movernent
in fund8
Unrestrlcted funds
General fund
Investment Revaluation
Charitable Property
198.581
(137.808)
60,773
10,288
10,288
208,581
(137,808)
10,288
81,061
R•$trl¢t•d funds
Housing
(16,601)
(16,601)
TOTAL FUNDS
208 581
154 409)
Cycllcal Repalr5 and Malntenan¢e Fund
This reserve represents amounts Set aside for cyclical maintenance to meet costs in excess of budgeted
expenditure for any year.
Extraordlnary Repalrs Fund
This Revenue Reserve represent8 amounts set aside to carry out major repairs on Housing Properties
Charltable Fund Property Fund
This represents that proportion of the cost of properties which was financed by charitable donations and
the Charity's own resources. In the year capitallsed expenditure on housing properties and loan interest
has been transferred to thls fund and depreciation except for that relating to the social housing grant for
housin9 properties have been transferred from this fund.
Page 20
continued...

THE BERROW COTTAGE HOMES
Notes to the Flnanclal Statements . continued
for the Year Ended 31 December 2024
18.
MOVEMENT IN FUNDS - contlnued
Houslng Property Fund
This represents the social housing granl received from the Housing Corporatlon for property
improvements to the Almshouses. Depreciatlon on housing properties is charged to this fund over the life
of the components of the building.
19.
RELATED PARTY DISCLOSURES
There were no related party transackn'ons for the year ended 310ecember 2024.
20. UNITS IN MANAGEMENT
Th8 Charity had 30 units in Management during the year. (2023: 30). Thar6 were no acquisitions or
dlsposals in the year.
Page 21

THE BERROW COTTAGE HOMES
Detalled Stalement of Flnanclal Actlvltles
for the Yèar Ended 31 December 2024
2024
2023
INCOME AND ENDOWMENTS
Donatlons and legacies
Donations
9,400
10,678
Other tradlng actlvttles
Other Income
26
40
Investment Income
Investment income
Dep081t account interest
15,743
19.358
1,644
18,057
21.002
Charltable actlvltl95
Housing Activltles - Resident8
Losses from void8
195,681
179,375
(2.512)
195,306
176,863
Total Incomlng resourcas
222,788
208.581
EXPENDITURE
Charltable actlvltles
Warden's salary
Social security
Pensions
Rates and water
Insurance
Light and heat
Telephone
Property repairs & maintenance
Cleaning
Alarm costs
Warden's utilities
Grounds maintenance
Depreciation of housing properties
DepreciatSon of plant & machinery
Fixtures and fittings
Loss on sa16 of langible fixed assets
21,322
21,569
390
2,876
435
3,527
3,470
1,889
19,237
615
3.243
2.710
7,608
48,793
782
154
3,092
673
3,732
3,382
2,093
27,831
57
3.090
3.302
7,710
49,941
818
154
4,966
132,631
117,958
This page does Tr)t form m of the statutory financial statements
Page 22

THE BERROW COTTAGE HOMES
Detalled Ststement of Flnanclal Acllvltles
for the Year Ended 31 December 2024
2024
2023
Support costs
Management
Clerks, salary
Trustee indemnty insurance
Postage and stationery
Adv@rtising
Sundries
Subscriptlons
Donations
Professional fees
Training
15,703
358
331
400
539
1,506
50
13,694
358
232
400
935
25
1.800
141
18,886
18,149
Flnance
Loan
4.251
15,848
Governance costs
Independent Examination
2.568
2,454
Total resources expended
168,336
154,409
Net Incom• b•fore galns and losses
64,462
54,172
Rgali$¢d recognlsed galn8 and 108888
Realised gainsl(losses) on fixed asset
Investments
Net Incoma
54,172
This page does Trjt form m ofthe stalutory financiat statements
Page 23