AGM CHARITY REGISTRATION NUMBER: 1175666 Shepton Mallet United Charities Independently Examined Financial Statements 31 December 2024 CHALMERS HB LTD Chartered Accountants 20 Chamberlain Street Wells Somerset BA5 2PF
Shepton Mallet United Charities Flnancial Ststements Year ended 31 December 2024 Page Trustees, annual report Independent examiner's report to the trustees Statement of financial activities Statement of financial position Notes to the financial statements The following pages do not form part of the financial statements Detailed statement of financial activities 18 Notes to the detailed statement of financial activities 19
Page 1 Shepton Mallet United Charfties Trustees. Annual Report Year ended 31 December 2024 The trustees present their report and the unaudited fillancial statements of the charity for the year ended 31 December 2024. Reference and administrativè d•tall$ Registered charity name Sheplon Mallet United Charities Charity registration numbar 1175666 Principal office The Parish Office Peter Street Rooms Peter Street Shepton Mallet BA4 5BL United Kingdom The tru$tg9$ Mr P G H Davies IChaim)anl Mrs S D Freeborn MrVACOwen Mr G Cockill Mr K Taylor Mrs J Dear Mrs K Lovel Mrs S Moore MrNMay Mf J Rendel Mr N Carter Mr J Pugsley (Appointed 6 November 2024} (Appointed 6 November 2024) Independent examiner P Ballan-whittield BA FCA Chalmers H8 Ltd 20 Chambedain Slreet Wells Somerset BA5 2PF
Pagg 2 Shepton Mallet United Charities Trustees. Annual Report (¢onllnL Year ended 31 December 2024 Structure, gov8manco and managem•nt Sheplon Mallet United Charities is a Charitable Incorporated Organisation ICIOI and is a Registered Charity (number 11756661 registered with the Charity Commission and is also a R¢StOr0d Social Housing Provider with Homes England Inumber 51421. 11 was sel up to take forward the work of the unin¢orwraled charity, also known as Shepton Mallet United Charities (Charity Registration number 2364261. The CIO was form9d on 9 November 2017 wrth a new foundation model wnslitution. Until the Closo of business on 31 December 2021 the CIO had remained dormant but, from the opening of business on 1 January 2022, all assets and funds of the unincorporated charity were transferred across with all the unincorporated charity's operations continuing under the CIO. The unincorporated charity was wound up and dissolved durfng 2022. As a r@gi$tered provider of social housing the Charity has undertaken an assessment of its compliance with the Governance and Financial Viability Standard and the Trustees ee'fy that they were compliant with the Standard during the course of the year and up until the date these accounts have been swJned. The Charity is managed by the trusl$es who imp18ment th8 Charity's objectives. Objectives and activities The principal obj8¢t of the Charity is to provide social housing in the fomi of almshouse accommodation for the benefrt of older or disabled persons resident in Shepton Mallet and the SUOund19 area who are in need or experiencing hardship or distress. Thè trustees have referred to the guidance contained in the Charity Commission's general guidance on public benefit when reviewing Iheir aims and objectives and in planning their future aclivilies. Achiovoments and performancg The Charity has continued lo meet regular, on%oing commitments atT5ing from the existing units of accommodation in manag8menl. The trustegs constantly monitor the risks faced by the Charity. and the mitigations and responses that are available, in the quarterly Trustee Board meetings. A major lire OCCUTred at one of the Charity's almshouses, 14 Church Lane, on 30 July 2023 which required a complete intemal restoration. The resident escaped Lsnhamed and was hoUSed at ano(her location in Sheplon Mallet. The property is fully insured with no material loss lo the charity- all restoration and resident rehousing costs were met dire¢lly by RSA Insurance Ltd. The appointed conlractorfs resloralion works commenced April 2024 and were completed September 2024. Flnanelal revlew The net surplus on ordinary activities for the year amounted to £12,321 12023 £20,910) Tho Charitys stslemgnl of financial position as detailed on pagg 8 shows a salisf8Ctory position with reserves amounting to £919,05012023 £906,729) The Trustees have a policy of continually reviewing the reseryes position with the objedive of maintainin9 a level of rèserves appropriate to the requirements of the Charity.
Pag• 3 Shepton Mallet United Charlties Trustees, Annual Report Icondnuedj Year ended 31 December 2024 Valu• for money The Regulator of Social Housing has Introduced a Value for Money Standard and requires providers such as ourselves to publish performance metrics against our own Value for Mongy targets. These measure economy, efficiency and effgctivgngss of all similar operations. Our performance metrics are as follows (some metrics are not applicable arKI have not been computed, as for example we have not produced any new units). 1. Reinvestment Qk_ not applicable as no propety fixed asset additions in year 2. New supply delivered % - not applicable as no new units in year not applicable as no borrowing 4. Eamings Before Interest, Tax. Depreciation, Amortisation, Major Repairs Included IEBITDA MRI) Interest Cover O/.- not applicable as no intere51 as no borrowing 5. Headline social cost per unil £6,249 6. Operating Margin °k- IsoGial housing lettingsl- {27.66°kn1 7. Operating Margin OA_ loveralll-17.810/.1 8. Retum on capital employed QA_10.59%) Target- £5,879 T8rget- {28.120/0) Target- {10.29 /0} Target- {0.730/.1 When considering these metrics, it should be noted that the Charity has no bomwlng. The Charity is constantly working lo manage ils reSoUrS lo maximise Cost effeclNeness. These slrivings for greater efficiency a always carried out wrth the proviso of providing quality seNices to meet residents. and potential residents, needs. The Charity is very conscious of the need to achiev8 a financial retum in line with ils targets arKI perfoTmance to match the axpectation5 of residents. Th8 Charity views value for money being maximised when there is an optimum balancg between the following.. realIsCallY low costs, efficlency and the successful Provision of a quality Service. The focus of the Charitws value for money programme Continues lo embr8C8 its approach to budgeting, risk management. service quality, voids manag$menl, energy consumption and planned maintenance. Plans for futura periods The charity is kjoking forward lo ils 400th anniversary in 2027 which it hopes to mark with the acquisition of more accommodation to meet the growing demand in the local area, further ils oL)jeclives and ensure its sustsin8bility. To that end it continues lo focus on building up Ihe necessary funds.
Pag• 4 Shepton Mallet United Charities Trustees. Annual Report (¢ontlnuéd) Year ended 31 December 2024 Plans for future periods {condnuedJ R•$ponsibilities of the trustees The trustees are responsible for preparing the Trustees. Annual Report and the financial slalemenls in a¢cordance with applicable law and regulations. Charity and Registered Housing legislalion roquires the trustees to prepare financial slalemenls for each financi81 year which give a true and fair view of the stale of affairs of the Regisleied Social Housing Provider and of the incoming resources and application of resources, including the income and 8xp8ndilure, ft)r that period. In preparing thes& financi81 stalemenls, the trustees are required to: select Suitable accounting policies and then apply them consistently.. observe the methods and prineiples in the Charities Ststemenl of Recommended Practice ISORPI.. make judgemonts and estimates that are reasonablo and prudent.. stale wh8ther applicable UK Accounting Standards have been foll(Iwed, subject lo any material departures disclosed and explalned in the financial slalements., prepare the financial statements on the going concem basis unless it is inappropriate lo presume that the Registered Social Housing Provider will continue in oparalion. The trustees are responsible for keeping proper accountirbg records that dlsclose with reasonable accuracy at any lime the financial position of the Registered Social Housing Provider and enable them to ensure that the financial slalemenls comply with the Charities Acts, Housing and Regeneration Act 2008 and the Accounting Direction for private registered providers of soci81 housing in England 2022. The trustees are also responsible for safeguarding the assets of the Registered Social Housing Provider and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. Thè trustees. annL¢al report was approved on IrLJsle 2Snd signed on behaff of Ihe board of Mr P G H Davies Trustee
Pagg 5 Shepton Mallet United Charities Independent Examiner's Report to the Trustees of Shepton Mallet Unlted Charlties Year ended 31 December 2024 I report to the trustees on my examination of the finan¢i81 statements of Shepton Mallgt United Charities for the year ended 31 December 2024. Responsibillties and basis of report The Iruslees are responsible for the preparation of the financial ststements and they consider that the Registered Social Housing Provider ss exempl from an audrt. It is Y responsibility lo cary out procedures designed to enable me to report my opinion. Basls of Independent accountant's report My work was conducted in accordance with the Stalemenl of Standards for Reporting Accountants, and so my procedures consisted of comparing the accounts with the accounting records kept by the Registered Social Housing Provider. and fflaking such limited enquiries of the officers of the R8gisl8r8d s(181 Housing Provider as I consider8d necessary for the purpose8 of this report. These procedures provide only the assurance expressed in my opinion. Independent examlner's ststement In my opinion.. 111 The accounts for the yèar ènded 31 December 2024 are in accordance with the aOuntIng records kept by the Registered Social Housing Provider under paragraph 135121{al of the Housing and Regeneration Act 2008., 121 Having regard only to, and on the basis of the infomalion contained in the accounting records.. The accounts comply with the requir&m8nts of the Charities Act 2011: The Registered Social Housing Provider has satisfied the conditions for exemption from an audit of the accounts for the year ended 31 Deeèmber 2024 specified in section 136131 of the Housing and Regeneration Act 2CIO8'. 131 The accounts comply with the requirements of the Housing and Regeneration Act 2008 and the Accounting Dirgction for registered providers of social housing in England 2022. P Ba112n-Whitfield BA FCA CHALMERS HB LTD Charted Accountants 20 Chamberlain Street Wells Somerset 8A5 2PF Dale.. ..IS.M.
Page 6 Shepton Mallet United Charlties Statement of Financial Activitles Year ended 31 December 2024 2024 Unrestricted funds Total funds 2023 Total funds Note Income and endowments Charttable activities Investment income 58.738 10.814 58,738 10,814 56,876 9,320 Total income 69.552 69,552 66,196 Expendlture Expenditure on charitsble activrties Total expenditure 74,987 74,987 57.946 74,987 74,987 57,946 Nel gainslllossesl on investments 17,756 17,756 12,660 Net Income and net movement In funqls 12.321 12,321 20.910 Reconciliafjon of funds Total funds brought forward Total funds caled fonyard 906,729 906,729 919.050 885.819 919.050 906,729 The slalement of financial aclivilies includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities. The notès on pages 8 to 16 forni part ot these flnancial statemènts.
Page 7 Shepton Mallet United Charities Statement of Financial Posltlon 31 December 2024 2024 2023 Note Flxed assets Tangible fixed assets Investments 14 15 455,995 260,687 466,599 242,931 716,682 709,53Q Current assets Debtors Cash at bank and in hand 204,888 199,555 204,888 2,520 199,599 2,400 Creditors: amounts falling due within one year Net current as$ets 16 202,368 197.199 Total assets less current liabilitie¥ 919.050 919.OSO 906.729 Not assets 906,729 Funds of the Charity Unrestricted funds 919,050 906.729 Totsl charity funds 19 919,050 906,729 These financial statements were appmved by the board of Iruslees 8nd authorised for issue on 102S. and are signed on behalf of the tK)ard by.. MrNMay Tnjslee Mr P G H Davies Ichaimianl Trustee Thg not•s on pag•s 8 to 16 forrn part of theso financlal statements.
Pago 8 Shepton Mallet United Charities Notes to the Financial Statements Year ended 31 December 2024 General infomiatlon The charity is a public benefit entity and a registered charity in England and Wales and is incorporated. The address of the principal office is The Parish Office, Peler Street Rooms, Peter Street, Shepton Mallet, BA4 5BL, United Kingdom. Statement of compllan¢e These financial statements have been prepared in compliance with FRS 102. The Financial Reporting Standard applicable in the UK and the Rèpublic of Iraland,, tho Staltrmenl of Rewmmended Practice applicAble to chartties preparing their accounts in accordance with the Financial Reportlng Standard applicable in tho UK and Republic of Ire18nd IFRS 1021 (Charities SORP IFRS 10211 and the Charities Act 2011 and the Accounting D1ction for privale registered providers of social housing 2022. Ac¢ounting policies Basis of preparation The finan¢ial slalemenls have been adapted in order lo comply with the Housing and Regeneration Act 2008 and with the Accounting Directk)n for private Tegistered providers of social housing in England 2022. Golng ¢oncem The financial statements have been prepared on a going concem basis as there are no material uncertainlie5 about the Charity's ability to continue. Dlsclo$ure exemptlon$ The entity satisfies the criteria of being a qualifying entity as defined in FRS 102. As such, advantage has been taken of the following disclosure exemptions available under paragraph 1.12 of FRS 102: lal No cash flow statement has been presented for the Charity. Ib) Disclosures in respect of financial instruments have not been presented. Judgements and key sources of estimation uncertainty The preparation of the financSal statements requir&s management lo make judgements. eslimales and assumptions that affect the amounts reported. These estimates and judgements are continually rèviawed and arè basgd on experienc8 and other factors, including expectations of future events that are believed to be reasonable under the circumstances. Fund accounting Unrestricted general funds are available for use al the discretion of the InJstees to further any of the chartvs purposes. Unrestricted designated funds are eamarked by the trustees for particular future project or commitment. Restricted funds are subjected lo restri¢lions on their expenditure declared by the donor or through the terms of an appeal, and fall into one of two sub-classes-. restrided income funds or endowment funds.
Page 9 Shepton Mallet United Charities Notes to the Financial Statements f¢ontthuèdJ Year ended 31 December 2024 A¢¢ounting policia$ fcontinuedl Incoming resourc?s All incoming resources are included in the statement of financial activities when enlitlemenl has passed to the charity., it is probable that the economic benefits assoeialed with the transaction will flow lo the charity and the amount can be reliably measured. The following specrfic policies are applied to particular ¢ategories of income.. income from donations or grants is recognised when there is evid8nce of enliuerrient to the grft, receipt is probable and ils amounl can be measured reliably. legacy Income Is recognised when receipt is probable and enlitlemenl is established. income from donated goods is measured at the fair value of the goods unless this is impractical to measure reliably, in which case the value is derived from the c051 to the donor or the estimated resale value. Donated facilities and setvices are recognised in the accounts when received if Ihe value can be reliably measured. No amounts are included for the contribution of general volunteers. income from contracts for the supply of services is recognised with the delivery of the contracted service. This is classified as unrestricted fijnds unless there is a contractual requirement for it to be spent on a particular purpose and retLbrned if unspent, in which case it may be regarded as restricted. Resources oxpgnded Expenditure is recognised on an accruals basis as a liability is incurred. Expenditure includes any VAT which cannot be fully recove, and is classified under headings of the statement of financial activities to which il relates.. expenditure on raising ftjnds indudes the costs of all fundraising aciivilies, events. non-charilable trading activities, and the sale of donated goods. expenditUTe on charttable activities includes all costs incurred by a charity in undertaking activities that further its ch8ritable al5 for the benefit of its beneficiaries. induding thosa support costs and costs relating lo the governan of ihe charty apportioned to charitable activities. other expenditure includes all expenditure that is neiÈher related lo raising funds for the charity nor part of its expenditure on charitable activities. A]1 costs are allocated to expenditure categories reflecting the use of the resour. Direct costs 8ttribulable lo a single activity a allocated direclty to that actNily. Shared costs are apportioned between the activtties they eontribule to on a reasonable, justifiable and consislenl basis.
Page 10 Shepton Mallet United Charities Notes to the Financial Statements (conlinuedj Year ended 31 December 2024 Accounting policie5 (¢ontlrtu4 Tangible ass•t$ Housing land and buildings Housing land and buildings are slated at cost. Cost includes costs of acquisition, development expenditure and interest on mortgage loans lo finance the scheme up to the date of practical compleb"on. Expendilure on schemes which are stJbseqLJently aborted is written off in the year in which it is rewgnised that a scheme wll not be developgd lo completion. Fixture$, fittings and equipment Assets donated lo the Charity ara not includèd in the Balance Shget,. other assets arg included at cost. Depreclatlon Depreciation is calculated so as to write off the wst or valuation of an asset, less its residual value. over the useful economic lrfe of that asset as follows.. Land and buildings Fixtures and Fittings 20A slraighl line 25•A reducing balan Invostmonts Unlisted equty investments are initially recorded al cost, and subsequently measured al fair value. If fair value cannot be reliably moasured. assets are measured at CO81 less impaimient. Listed investments are measured at fair value with changes in fair value being recognised in income or expenditure.
Pagg 11 Shepton Mallet Unlted Charities Notes to the Flnancial Statements (ntInued) Year ended 31 December 2024 A¢¢ounting poIici•s (th¥rttlnu Impaiment of flxed assets A review for indicators of imp8irmenl is carTied out al each reporting dale, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired a¢cordingly. Prior impairments are also reviewed for Possible rgvgrsal at gach reporting date. For the purposes of impairment testing. when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the Cash-generaling unit to which the asset belongs. The cash-generaling unil is the smallest identifiable group of assels Ihat indLJdes Iho asset and generates Cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwi1S acquired in a business combination is, from the aGquisilion date, allocated lo each of the caSheneratIng units that are expected to benefrt from the synergies of the combination, irrespective of whether other as5els or liabilities of the charity are assigned to those units. Financial instruments A financial asset or a financial liability is recognised only when the chariiy b8com8s a party lo the contractual provisions of tha instrument. Basic financydl instruments are initially recognised at the amount receivable or payable inctuding any related transaction cosls. cu1 assets and current liabilities are subsequently measured at the cash or other consideration expected to be paid or received and not discounted. Debt instruments are subsequènljy measured at amortised cost. Where investments in shares are publicly traded or their fair value can otherwise be measured reliably. the investment is subseouenlly measured at fair value with changes in fair value Tecognised in income and expenditure. All other such investments are subsequently measured al cost less impairment.
Page 12 Shepton Mallet United Charities Notes to the Financial Statements (contiTruedJ Year ended 31 December 2024 Accounting poli¢i•s {continuodl Financial instruments (continu Other financial instruments are subsequently measured 81 fair value, with any changes recognised in the slalemenl of finanryal activities. with the exception of hedging instruments in a designated hed9ing relationship. Flnancial assets that are meaSud at cost OT amortised wsl are reviewed for objective evidence of impaiment at the end of each reporting date. If the is objective evidence of impairment, an impaimient loss is recognised under the appropriate heading in the statement of financial activities in which the initial gain was recognised. For all equity instruments regardless of significance, and other financi81 assets that are individually significant, these ar& assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar Credit risk Characteristics. Any reversals of impaimient are recognised immediately. lo the exlenl that the reversal does not rgsult in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised. Charitable al¥ltIeS Unrestricted Total Funds Unrestricted Totsl Funds Funds 2024 Funds 2023 Weekty Maintenance Contributions Income from charitable activities 58,738 58,738 56,473 403 56.473 403 58,738 58,738 56.876 56,876 Investment income Unrestricted Total Funds Unrestricted Totsl Funds Funds 2024 Funds 2023 Income from listed investments Bank interest receivable 1,668 9,146 1.668 9.146 1,565 7,755 1,565 7,755 10.814 10,814 9,320 9,320 Expendlture on Charitable activities by fund type Unrestricted Total Funds Unrestricted Total Funds Funds 2024 Funds 2023 Provision of housing accommodation Support costs 66,281 8,706 66,281 8,706 51,034 6,912 51,034 6.912 74,987 74,987 57.946 57.946
Page 13 Shepton Mallet United Charities Notes to the Financial Statements {wnlinu8¢1? Year ended 31 December 2024 Expandlture on charitsbl• activitlos by adlvlty type Activtties undertaken directly Support Total fund$ costs 2024 Total fund 2023 Provision of housing accommodation Governance costs 66.281 66,281 8,706 51.034 6,912 8,706 66.281 8.706 74,987 57,946 Analysi8 of support costs Total 2024 Total 2023 Glerk expenses Finance costs Subscriptions 5,051 2,520 1,135 3,981 2,400 531 8.706 6,912 Net galns on Invèstments Unreslri¢led Total Funds Unrestricted Totsl Funds Funds 2024 Funds 2023 Gainslllossesl on listed investsmenls 17,756 17,756 12,660 12,660 10. Net income Net income is slated after chargingllcreditingl.. 2024 2023 Depr@¢ialion of tangible fixed assets 10.604 10,607 11. Independent examlnatlon fe¢$ 2024 2023 Fees payable to the independent examiner for.. Independent examination of the financial statements 2,173 2.070 12. Staff costs The average head count of employees during the year was 2 {2023: 21. No employee received employee benefits of more than £60,000 during the year (2023: Nil}. 13. Trusteè remuneration and expenses No romuneralion or other benellts from 8mployment wlth the charity or a related entity wer9 received by the trustees.,
Page 14 Shepton Mallet United Charities Notos to the Flnancial Statements (continued) Year ended 31 December 2024 1& Tangible fixed a$$gts Land and Fixtures and buildings fittings Total Cost Al 1 January 2024 Disposals At 31 Dgcember 2024 530,223 2,000 {2,0001 532,223 (2.0001 530,223 530,223 D•prè¢lation Al 1 January 2024 Charge for the year Disposals At 31 DeGember 2024 63,624 10,604 2,000 65,624 10,604 {2.0001 74,228 12.0001 74.228 Carrying amount At 31 Decombgr 2024 455,995 455,995 At 31 December 2023 466,599 466,599 The housing land and buildings are owned freehokl or on bng leasehold1999 year leases) by the charity. The Trustees consider that the market value of the freehold land and buildings is in excess of the amount shown in the financial statemgnts but, as these assets are used in the ChaTty's business and no disposals are envisaged, the excess is not quanlrfied. 15. Investments List•d investments Cost or valuation Al 1 January 2024 Additions Fair value movements 242.931 17,756 At 31 Decernber 2024 260.687 Impaimi•nt At 1 January 2024 and 31 D8eemb•r 2024 Carrylng amount At 31 December 2024 260,687 At 31 Deeember 2023 242,931 AJI investments shown above are held at valualK)n. Flnanci81 assets held 8t falr value Investments have been slated at their market value as at 31 December 2024. 16. Creditors: amounts lalling due within one yéar 2024 2023 Accruals and deferred income 2.S20 2,400
Pagg 15 Shepton Mallet United Charities Notes to the Financlal Statements (contlnue Year ended 31 December 2024 17. Voids and units of accommodation The notional void for the year ended 31 December 2024 was £6,18112023 £2.4211. The Charity provided 12 units of accommodation at the year end {2023- 12 unilsl. 18. Analysls of Charitable funds Unrestricted funds At 1 Jan 2024 Gains and At {losses} 31 Dec 2024 Income Expenditure General funds 906,729 69,552 (74,9871 174,9871 17,756 919.050 906,729 69,552 17,756 919,050 At 1 Jan 2023 Gains and At 1105sesl 31 Dec 2023 Inwme Expenditure General funds 885,819 66.196 157.9461 157.9461 12,660 906,729 885,819 66,196 12,660 906.729
Page 16 Shepton Mallet United Charities Notes to the Financial Ststements Iconlln4*d) Year ended 31 December 2024 19. Analysis of net a$$6ts bgtween funds Unresliicled Totsl Funds Funds 2024 Tangible fixed assets Inveslments Current assets Crfjdilors less than 1 year Net assets 455,995 260,887 204,888 12.5201 919.050 455,995 260.687 204,888 12.520} 919,050 Unrestricted Totsl Funds Funds 2023 Tangible fixed assgls Investments Current assets Creditors less than 1 year Net assets 466,599 242,931 199,599 12,4001 906,729 466,599 242,931 199,599 12,4001 906,729 20. Cr)ntingen¢ies Grants were reIVed by the unincorporated charity Shepton Mallet United Chartties (registered number 2364261 from the Housing Corporation, now known as Homes England, for the furbishmenl of the Wickham Almshous8s, the Tefurbishment of the Church Lane Almshouses and thè purchas8 of the Milliner Court Almshouses. The total advanced was £419,170. These grants are only repayable if a levant evonl occurs such as the sale of an almshouse. On 7 October 2021 the CIO was approved as a registered provider of social housing {registratk)n number 51421. Deregislration of the unincorporated Charity {regislratKJn number A04821 oCcUrd during 2022 8fter the transfer of assets and funds to the CIO on 1 Jantjary 2022. As a relevant event had not occurred and there was no obligation lo repay these grants the figures for the unincorporated Charity were adjusted to release the grants to SetVe5 and the 2021 accounts were r8staled. As a relevant event may occur in the future they have bean disclosed as contingent liabilities.
Page 17 Shepton Mallet United Charities Management Infomation Year ended 31 December 2024 The following pagas do not form part of the flnanclal ststements.
Page 18 Shepton Mallet United Charities Detailed Statement of Financlal Activities Year ended 31 December 2024 2024 2023 Income and endowments Charitable adivities Rants and Servi charges Income from ehantable a¢livtties 58,738 56,473 403 58.738 56,876 Invsstment income Income from listed investments Bank interest receivable 1,668 9,146 1.565 7,755 10,814 9,320 Total incomo 69,552 66,196 Expenditure Expendlture on charitable aetivitiès Warden costs Ground rent Current maintenance costs Insurance L8gal and profassion81 feas Depreciation Bank charges Sundry expenses Clerk expenses Accountancy fe8S Subscriptions Total expenditure 3,419 225 48,278 2A06 3.075 225 32,482 2,557 1,(K)4 10,607 298 786 3,981 2.400 531 10,604 307 1,042 5,051 2.520 1.135 74.987 57,946 Net gains on investments Gainslllossesl on listed investments 17,7 12,660 Net incomo 12,321 20,910
Page 19 Shepton Mallet United Charities Notes to the Oetailed Statement of Financlal Activlties Year ended 31 December 2024 2024 2023 Expgnditure on ¢harftsble activTrtie$ Provision of housing accommodation Activities undertaken diroctly Warden costs Ground rent and room hire Current maintenance costs Insuranc Lsgal and prof9$sional fees Depreciation Bank charges Sundry expenses 3.419 225 48.278 2.406 3,075 225 32,482 2.557 1.004 10,607 298 786 10,604 307 1.042 66.281 51.034 GovemancÈ costs Clerk expenses Accountancy fegs Subscriptions 5.051 2.520 1,135 3.981 2,400 531 8,706 6,912 Expenditure on ¢haritable actlvlll8$ 74,987 57,946