2025-06-30-accounts - Harborne And Smethwick Charitable Trust

This text was generated using OCR and may contain errors. Check the original PDF to see the document submitted to the regulator.

`Solicitors`	`AnthonyCollins`
	`134EdmundStreet`
	`Birmingham`
	`B32ES`
	`HiggsandSons`
	`3WaterfrontBusinessPark`
	`BrierleyHill`
	`WestMidlands`
	`DY51LX`
`Surveyors`	`CommercialPortfolio:`
	`CottonsCharteredSurveyors`
	`CavendishHouse`
	`359/361HagleyRoad`
	`Edgbaston`
	`B178DL`
	`ResidentialPortfolio:`
	`RobertPowellCharteredSurveyors`
	`7ChurchRoad`
	`Edgbaston`
	`Birmingham`
	`B153SH`
`Investmentadvisors`	`EvelynPartners`
	`14Floor`
	`103ColmoreRow,`
	`Birmingham,`
	`BN33AG`
`Internalauditors`	`Validera`
	`Unit` `3CromptonCourt`
	`AttwoodRoad`
	`Burntwood`
	`Staffordshire`
	`WS73GG`

`:` `Risk`	`CurrentControl`	`New` `Actions`	`Mitigating`	`Accountable`
`Almshouses`	`Regularmonitoringandreporting`	`None—`	`Riskun-`	`ChiefExecutive,`
`WMCarrears`		`changed`	`sincelast`	`SeniorManagement`
	`Supportresidentstoclaimbenefits`	`year`		`Team`
	`FortnightlySupportOfficersurgerieswithres-`
	`idents`
	`KPI'ssurrounding collectionsarrearsand bad`
	`debtsmonitoredatseniormanagementteam`
	`andboardlevel.`
	`Targetedsupportsessionwithresidentsin`
	`arears`
	`Increasefrequencyofaccountmonitoring`
	`fromeverymonthtoeverytwoweeks`
	`AskresidenttopayWMConeweekinad-`
	`vanceonsignup.`
	`Establishedarrearscontrolprocessesthat`
	`governcommunicationwithresidentsinar-`
	`rearsandencouragepaymentplanstoclear`
	`debts.`
	`Wherenecessarytakelegalactiontorecover`
	`debts.`
`Changestothe`	`LiaisonwithHousingBenefitsections.`	`None—`	`Riskun-`	`ChiefExecutive&`
`benefitssys-`		`changed`	`sincelast`	`HousingManager`
`temimpact`	`Networkingandkeepingabreastofdevelop-`	`year`
`WMCcollec-`	`ments.`
`tion`
	`Makeuseofspecialistadvicewherere-`
	`quired.`
	`InformationandPolicyOfficertotrackpolicy`
	`changesinpolicyatlocalandnationallevel.`
	`MonitornewGovernmentpolicyregarding`
	`housingandbenefitscloselyandassessim-`
	`plicationsoncepolicyisclear.`
`Longtermloss`	`Goodtermsandconditionswhichareregu-`	`Become`	`andLiv-`	`ChiefExecutive`
`ofkeymem-`	`larlyreviewedalongwithsalaries.UseCita-`	`ingWageEm-`
`bersofstaff`	`tiontoensuregoodpracticeinemployment`	`ployer`
	`matters.`

	`TRUSTEESREPORT`
	`FORTHEYEARENDED30JUNE2025`
	`Useofagencystafftocovergapsandensure`	`Becomea Living`
	`continuityofservice.`	`PensionEmployer`
	`DevelopmenttheSeniorManagementTeam.`
	`Useofappraisalstoanticipateproblems.`
	`Developsuccessionstrategyandpeople`
	`plansaspartofthe2025-30businessplan.`
	`Increasednumberofsocialeventsand`
	`eventsthatrewardsuccess.Greatercommu-`
	`nicationbetweenTrusteesandallstaffat`
	`postboardmeetinglunchesetc.`
	`Reviewsalaryoffrontlinepostsduringthe`
	`2024/25salaryreviewcycletoensuresala-`
	`riesremaincompetitive.`
	`Increasednumberofsocialeventsand`
	`eventsthatrewardsuccess.Greatercommu-`
	`nicationbetweenTrusteesandallstaffat`
	`postboardmeetinglunchesetc.`
	`Regularreviewsofpayandconditionstoen-`
	`surea reasonableandcompetitiveresponse`
	`tothecostoflivingcrisis.`
	`Restructureofthemanagementteamtopro-`
	`videquicker,moredevolvedandmorerobust`
	`decisionmakingacrosstheorganisationand`
	`providepromotionopportunitiesforexisting`
	`staff`
`Incurringsub-`	`Completingregularstockconditionsurveysto`	`None— Riskun-`	`HousingManager`
`stantialnon-`	`assessandplanrepairsandimprovementsto`	`changedsincelast`	`and ChiefExecutive`
`budgetedex-`	`thecharity'sestate.`	`year`
`penditure`
	`Completeandworktoa comprehensivebusi-`
	`nessplantopredictincomeandexpenditure`
	`requirementsyearsinadvance.`
	`EarmarkfundsforERF/CMFasa` `restricted`
	`reservetocashbacklong-termcapitalpro-`
	`jects.`
	`Monitorcostoflongdurationcapitalprojects`
	`closelytoensurecompletionwithinoriginal`
	`estimates.`
	`ReviewallCMF/ERFcommitmentsduring`
	`thebudgetprocesstoensureestimatesare`
	`accurateandincorporatelikelycostuplifts.`

`Lackofattend-`	`\|Attendancemonitoringreporting.`	`None— Riskun-`	`AllTrustees`
`anceatmeet-`		`changedsincelast`
`ings`	`Carefulplanningofmeetingcalendartoavoid\| year`
	`knownconflicts.`
`SeriousDam-__\|` `agetoProperty`	`Insuredrisk,limitsreviewed.`	`None— Riskun-` `changedsincelast`	`ChiefExecutiveand` `\|FinanceManager`
	`Regularpropertyinspections.`	`year`
	`Reviewinsurancearrangementafter2025re-`
	`newalpoint.`
	`Insurersnotifiedofnewacquisitionsbefore`
	`completiondatetoensureimmediatecover.`

	`Replacethegutteringontheolderofthetwoblocks`
	`ReneworReplaceallcommunalfiredoors`
	`Replaceandupgradeallconsumerunits`
	`Replace4 kitchensaspartofa rollingkitchenreplacementprogramme`
	`Refurbish/convert4 wetrooms`
`HarborneCottages-`
`=`	`RenewCarbonMonoxide/Gasdetectors`
`=`	`Replaceandupgradeallconsumerunits`
`FirsClose-`
`«`	`Pollardingandreductionoftrees`
`«`	`Fittingcarparkbarriersanda newpedestrianentrance`
`=`	`Replacementofcommunalfiredoors`
`=`	`Replacementandupgradeofallconsumerunits`
`=`	`Replace3 wetrooms`
`DoreHouse-`
`=»`	`Replacementofcommunalfiredoors`
`»`	`Replacementandupgradeofallconsumerunits`

`UKEquities`	`16.7%`
`OverseasEquities`	`50.3%`
`NorthAmerica`	`18.2%`
`Europe(ExcludingtheU.K.)`	`6.9%`
`Japan`	`3.2%`
`PacificBasin(ExcludingJapan)`	`6.3%`
`EmergingMarkets`	`2.0%`
`Global`	`13.6%`
`Bonds`	`19.3%`
`UKGovernment`	`9.1%`
`UKIndexLinked`	`0.8%`
`UKCorporate`	`2.5%`
`Overseas`	`6.9%`
`AlternativeAssets`	`7.2%`
`UKProperty`	`5.5%`
`Cash`	`1.1%`

`TheCharity’sIncome`		`TheCharity’sExpenditure`
`Incomereceived2024-25`		`Howtheincomewasspentin`
		`2024-25`
`FinancialInvestmentIncome`	`£198,914`	`Grants`	`£348,833`
`IncomefromInvestmentProper-`	`£603,791`	`HousingActivities`	`£1,378,872`
`ties`
`HousingActivities`	`£1,167,561`	`Governance`	`£82,952`
`Other`	`£74`	`Investmentpropertymanage-`	`£168,503`
		`ment`
		`Financialinvestmentmanage-`	`£34,812`
		`ment`
	`£1,970,340`		`£2,013,973`

		`£`
`HousingProperties`		`3,681,428`
`Land,fixtures&`	`fittings`	`632,788`
`Investments(stocksandshares)`		`6,066,434`
`Investmentproperties`		`11,750,479`
`Subtotal`		`22,131,129`
`Currentassets`	`lessliabilities`	`22,951,987`
`Creditors(due`	`overmorethanone`	`(62,775)`
`year)`
`NetAssets`		`22,889,212`

`Metric` `(Asdefinedby`							`wen`
`theRegulator`	`\|2020/21`	`\|2021/22`	`\|2022/23`	`\|2023/24`		`NarrativeExplanation`	`(Outof`
`forSocial`							`44)`
`Housing)`
						`Thecharityremainslowgeared.The`
`Gearing(RSH`						`charityispayingoffitsonesmallloan`
`andScorecard`						`slowlyandtheoutstandingbalancede-`
`measure)`	`-47%`	`-57.04%`	`\|-56.85%`	`\|46.29%`		`creasesfromyeartoyear.Thecharity`	`N/A`
						`haslookedintopayingtheloanoff`
`(RSH203)`						`earlybutredemptioncostsmakethis`
						`uneconomical.`
`etees`					`\|`	`Thecharityhasnotdevelopedanynew`
`unitsdelivered`						`socialhousingunitsthisyear.The`
`asa percent-`						`charitywouldliketodevelopnewsocial`
`age` `oftotalso-`	`0`	`0`	`0`	`0`		`housingunitsbutrequiresgreaterclar-`	`Ast`
`cial` `housing`						`ityregardingfuturewelfarereformsbe-`
`unitsheld`						`foreitcancommit.Therankingises-`
						`tablishedonthebasisofhowrecently`
`(RSH204)`						`unitswereadded.`
						`Thecharityhasnotdeliveredanynew`
						`non-socialhousingunitsin2023/24`
						`However,thecharityhascompleted`
`NewSupply`						`twonon-socialresidentialpurchasesaf-`
`delivered(non-`	`N/A`	`0`	`0`	`0`		`tertheyearend andwillreportthosein`	`Ast`
`socialhousing`						`thistablein2024/25.Therankingis`
`units`						`basedonhowrecentlynewnon-social`
						`unitswereaddedtoourportfolio.Our`
						`rankingshowsthecharityaddedunits`
						`mostrecentlyoutofourpeers.`
`‘` `Reinvestment` `°`	`6;`	`0`	`6`	`6`		`Reinvestmenthasincreased.Thisisre-` `f` `:` `;` `flectiveofthelargerproportionofthis`
`REET304)`	`Bie`	`0.28%`	`21a`	`118%`		`year’simprovementprogrammethat`	`i`
						`wascapitalised.`
						`Thereturnoncapitalemployedisindel-`
`ReturnonCap-`						`iblylinkedtotheperformanceofthe`
`italEmployed`						`charity’sinvestmentsandtheamount`
`(ROCE)%`	`4.12%`	`1.72%`	`2.9%`	`-1.25%`		`thecharityspends.Becauseofgreater`	`4th`
`(RSH401)`						`performanceintheseareasthechar-` `ity’sscorehasimprovedhowever,the`
						`charity'srankinghasremainedstatic.`

		`Unrestricted`	`Endowment`	`Total`	`Total`
		`funds`	`funds`	`funds`	`funds`
		`2025`	`2025`	`2025`	`2024`
	`Note`	`£`	`£`	`£`	`£`
`Incomeandendowmentsfrom:`
`Charitableactivities`	`4`	`1,167,561`	`-`	`1,167,561`	`1,088,551`
`Investments`	`5`	`802,705`	`-`	`802,705`	`783,848`
`Otherincome`		`74`	`-`	`74`	`529`
`Totalincomeandendowments`		`1,970,340`	`-`	`1,970,340`	`1,872,928`
`Expenditureon:`
`Raisingfunds`	`6`	`36,478`	`166,837`	`203,315`	`271,435`
`Charitableactivities:`	`8`
`Housingactivities`		`1,224,318`	`154,554`	`1,378,872`	`1,420,603`
`Grantsinreliefinneed`		`348,833`	`-`	`348,833`	`389,643`
`Governancecosts`		`82,953`	`-`	`82,953`	`78,606`
`Totalexpenditure`		`1,692,582`	`321,391`	`2,013,973`	`2,160,287`
`Netincome/(expenditure)beforenet`
`gainsoninvestments`		`277,758`	`(321,391)`	`(43,633)`	`(287,359)`
`Netgainsoninvestments`		`99,758`	`71,354`	`171,112`	`551,186`
`Netmovementinfunds`		`377,516`	`(250,037)`	`127,479`	`263,827`
`Reconciliationoffunds:`
`Totalfundsbroughtforward`		`6,923,658`	`15,838,075`	`22,761,733`	`22,497,906`
`Netmovementinfunds`		`377,516`	`(250,037)`	`127,479`	`263,827`
`Totalfundscarriedforward`		`7,301,174`	`15,588,038`	`22,889,212`	`22,761,733`

			`2025`		`2024`
	`Note`		`£`
`Fixedassets`
`Tangibleassets`	`12`		`4,314,216`		`4,237,587`
`Investments`	`14`		`6,066,434`		`5,929,384`
`Investmentproperty`	`13`		`11,750,479`		`11,152,001`
			`22,131,129`		`21,318,972`
`Currentassets`
`Debtors`	`16`	`293,150`		`196,977`
`Cashatbankandinhand`		`954,501`		`1,723,934`
		`1,247,651`		`1,920,911`
`Currentliabilities`
`Creditors:amountsfallingduewithinone` `year`	`17`	`(426,793)`		`(414,354)`
`Netcurrentassets`			`820,858`		`1,506,557`
`Totalassetslesscurrentliabilities`			`22,951,987`		`22,825,529`
`Creditors:amountsfallingdueaftermore` `thanoneyear`	`18`		`(62,775)`		`(63,796)`
`Totalnetassets`			`22,889,212`		`22,761,733`
`Charityfunds`
`Endowmentfunds`	`19`		`15,588,038`		`15,838,075`
`Unrestrictedfunds`	`19`		`7,301,174`		`6,923,658`
`Totalfunds`			`22,889,212`		`22,761,733`

	`Note`	`2025` `£`	`2024` `£`
`Cashflowsfromoperatingactivities`
`Netcash usedinoperatingactivities`	`21`	`(745,743)`	`(895,300)`
`Cashflowsfrominvestingactivities`
`Dividends,interestsandrentsfrominvestments`		`802,705`	`783,848`
`Purchaseoftangiblefixedassets`		`(260,958)`	`(77,926)`
`Proceedsfromsaleofinvestmentsandinvestmentproperty`		`250,687`	`886,591`
`Purchaseofinvestmentsandinvestmentproperty`		`(908,979)`	`(984,947)`
`Netcash(usedin)/providedbyinvestingactivities`		`(116,545)`	`607,566`
`Cashflowsfromfinancingactivities`
`Repaymentsofborrowing`		`(1,021)`	`(923)`
`Netcashusedinfinancingactivities`		`(1,021)`	`(923)`
`Changeincashandcashequivalentsintheyear`		`(863,309)`	`(288,657)`
`Cashandcashequivalentsatthebeginningoftheyear`		`1,884,354`	`2,173,011`
`Cashandcashequivalentsattheendoftheyear`	`22`	`1,021,045`	`1,884,354`

`Land`	`-Notdepreciated`
`Officebuilding`	`-20years`
`Fixturesandfittings`	`-7 years`
`Computerequipment`	`-3 years`
`Roofstructureandcovering`	`-70- 100years`
`Windowsandexternaldoors`	`_—-30years`
`Heating`	`-8-15years`
`Kitchens`	`-20years`
`Bathrooms`	`-30years`
`Mechanical`	`-30years`
`Electrical`	`-40years`
`Lifts`	`-20years`

	`Unrestricted`	`Total`
	`funds`	`funds`
	`2025`	`2025`
	`£`	`£`
`Weeklymaintenancecontribution`	`648,201`	`648,201`
`Servicechargesreceivable`	`349,916`	`349,916`
`Utilitiesrecharges`	`169,444`	`169,444`
`Total2025`	`1,167,561`	`1,167,561`

	`Unrestricted`	`Total`
	`funds`	`funds`
	`2024`	`2024`
	`£`	`£`
`Weeklymaintenancecontribution`	`612,654`	`612,654`
`Servicechargesreceivable`	`322,350`	`322,350`
`Utilitiesrecharges`	`153,547`	`153,547`
`Total2024`	`1,088,557`	`1,088,551`

	`Unrestricted`	`Total`
	`funds`	`funds`
	`2025`	`2025`
	`£`	`£`
`Rentalincomefrominvestmentproperties`	`603,791`	`603,791`
`Dividendsandinterestreceivable`	`198,914`	`198,914`
`Total2025`	`802,705`	`802,705`
	`Unrestricted`	`Total`
	`funds`	`funds`
	`2024`	`2024`
	`£`	`£`
`Rentalincomefrominvestmentproperties`	`590,389`	`590,389`
`Dividendsandinterestreceivable`	`193,459`	`193,459`
`Total2024`	`783,848`	`783,848`

	`Unrestricted`	`Endowment`	`Total`
	`funds`	`funds`	`funds`
	`2025`	`2025`	`2025`
	`£`	`£`	`£`
`Repairs`	`8,617`	`81,105`	`89,722`
`Insurance`	`772`	`7,275`	`8,047`
`Legalandpropertymanagementfees`	`288`	`2,709`	`2,997`
`Agent'scommission`	`6,505`	`61,232`	`67,737`
`Investmentmanagementfee`	`20,296`	`14,516`	`34,812`
`Total2025`	`36,478`	`166,837`	`203,315`
	`Unrestricted`	`Endowment`	`Total`
	`funds`	`funds`	`funds`
	`2024`	`2024`	`2024`
	`£`	`£`	`£`
`Repairs`	`4,633`	`149,802`	`154,435`
`Insurance`	`310`	`10,028`	`10,338`
`Legalandpropertymanagementfees`	`248`	`8,017`	`8,265`
`Agent'scommission`	`2,000`	`64,671`	`66,671`
`Investmentmanagementfee`	`18,814`	`12,912`	`31,726`
`Total2024`	`26,005`	`245,430`	`271,435`

				`Grantsto`	`Grantsto`	`Total`
				`Institutions`	`Individuals`	`funds`
				`2025`	`2025`	`2025`
				`£`	`£`	`£`
`Grantsfor`	`relief`	`in`	`need`	`222,850`	`66,546`	`289,396`
				`Grantsto`	`Grantsto`	`Total`
				`Institutions`	`Individuals`	`funds`
				`2024`	`2024`	`2024`
				`£`	`£`	`£`
`Grantsfor`	`relief`	`in`	`need`	`286,603`	`45,882`	`332,485`

	`Unrestricted`	`Endowment`
	`funds`	`funds`	`Total`
	`2025`	`2025`	`2025`
	`£`	`£`	`£`
`Housingactivities`	`1,307,271`	`154,554`	`1,461,825`
`Grantsforreliefinneed`	`348,833`	`-`	`348,833`
`Total2025`	`1,656,104`	`154,554`	`1,810,658`

	`Unrestricted`	`Endowment`
	`funds`	`funds`	`Total`
	`2024`	`2024`	`2024`
	`£`	`£`	`£`
`Housingactivities`	`1,360,343`	`138,864`	`1,499,207`
`Grantsforreliefinneed`	`389,645`	`-`	`389,645`
`Total2024`	`1,749,988`	`138,864`	`1,888,852`

	`Activities`	`Grant`
	`undertaken`	`fundingof`	`Support`	`Total`
	`directly`	`activities`	`costs`	`funds`
	`2025`	`2025`	`2025`	`2025`
	`£`	`£`	`£`	`£`
`Housingactivities`	`1,378,873`	`-`	`82,952`	`1,461,825`
`Grantsforreliefinneed`	`-`	`289,396`	`59,437`	`348,833`
`Total2025`	`1,378,873`	`289,396`	`142,389`	`1,810,658`
	`Activities`	`Grant`
	`undertaken`	`fundingof`	`Support`	`Total`
	`directly`	`activities`	`costs`	`funds`
	`2024`	`2024`	`2024`	`2024`
	`£`	`£`	`£`	`£`
`Housingactivities`	`1,419,016`	`-`	`80,191`	`1,499,207`
`Grantsforreliefinneed`	`-`	`332,485`	`57,160`	`389,645`
`Total2024`	`1,419,016`	`332,485`	`137,351`	`1,888,852`

	`Housing`	`Total`
	`Activities`	`funds`
	`2025`	`2025`
	`£`	`£`
`Staffcosts`	`380,479`	`380,479`
`Operatingcosts`	`991,823`	`991,823`
`Interestpayable`	`6,571`	`6,571`
`Total2025`	`1,378,873`	`1,378,873`

	`Housing`	`Total`
	`Activities`	`funds`
	`2024`	`2024`
	`£`	`£`
`Staffcosts`	`328,235`	`328,235`
`Operatingcosts`	`1,084,113`	`1,084,113`
`Interestpayable`	`6,668`	`6,668`
`Total2024`	`1,419,016`	`1,419,016`

		`Grantsfor`
	`Housing`	`reliefin`	`Total`
	`Activities`	`need`	`funds`
	`2025`	`2025`	`2025`
	`£`	`£`	`£`
`Staffcosts`	`-`	`53,026`	`53,026`
`Premisesandofficerunningexpenses`	`-`	`6,411`	`6,411`
`Governancecosts`	`82,952`	`-`	`82,952`
`Total2025`	`82,952`	`59,437`	`142,389`
	`Housing`	`Grantsfor`	`Total`
	`Activities`	`reliefinneed`	`funds`
	`2024`	`2024`	`2024`
	`£`	`£`	`£`
`Staffcosts`	`-`	`50,990`	`50,990`
`Premisesandofficerunningexpenses`	`-`	`6,170`	`6,170`
`Governancecosts`	`80,191`	`-`	`80,191`
`Total2024`	`80,191`	`57,160`	`137,351`

	`Unrestricted`	`Total`
	`funds`	`funds`
	`2025`	`2025`
	`£`	`£`
`Auditor'sremuneration`	`26,344`	`26,344`
`Othercosts`	`23,669`	`23,669`
`Premisesandofficerunningexpenses`	`2,882`	`2,882`
`Wagesandsalaries`	`24,730`	`24,730`
`Nationalinsurance`	`2,873`	`2,873`
`Pensioncost`	`2,454`	`2,454`
`Total2025`	`82,952`	`82,952`
	`Unrestricted`	`Total`
	`funds`	`funds`
	`2024`	`2024`
	`£`	`£`
`Auditor'sremuneration`	`24,804`	`24,804`
`Othercosts`	`23,820`	`23,820`
`Premisesandofficerunningexpenses`	`2,779`	`2,779`
`Wagesandsalaries`	`23,816`	`23,816`
`Nationalinsurance`	`2,606`	`2,606`
`Pensioncost`	`2,366`	`2,366`
`Total2024`	`80,191`	`80,191`

			`Group`	`Group`
			`2025`	`2024`
			`£`	`£`
`Wages`	`andsalaries`		`390,245`	`347,492`
`Social`	`securitycosts`	`;`	`32,450`	`28,632`
`Other`	`pensioncosts`		`35,540`	`31,889`
			`458,235`	`408,013`

	`Group`	`Group`
	`2025`	`2024`
	`No.`	`No.`
`Employedwhollyonhousingactivities`	`7`	`6`
`Employedonhousingactivities,grantmakingandgovernance`	`6`	`5`
	`13`	`11`

	`Freehold`	`Fixturesand`	`Housing`
	`property`	`fittings`	`properties`	`Total`
	`£`	`£`	`£`	`£`
`Costorvaluation`
`At1 July2024`	`657,493`	`142,394`	`6,101,623`	`6,901,510`
`Additions`	`-`	`33,790`	`227,168`	`260,958`
`Disposals`	`-`	`-`	`(654)`	`(654)`
`At30June2025`	`657,493`	`176,184`	`6,328,137`	`7,161,814`
`Depreciation`
`At1 July2024`	`60,807`	`86,862`	`2,516,254`	`2,663,923`
`Chargefortheyear`	`24,098`	`29,122`	`130,569`	`183,789`
`Ondisposals`	`-`	`-`	`(114)`	`(114)`
`At30June2025`	`84,905`	`115,984`	`2,646,709`	`2,847,598`
`Netbookvalue`
`At30June2025`	`572,588`	`60,200`	`3,681,428`	`4,314,216`
`At30June 2024`	`596,686`	`55,532`	`3,585,369`	`4,237,587`

	`Freehold`
	`investment`
	`property`
	`£`
`Valuation`
`At1 July2024`	`11,152,001`
`Additions`	`598,478`
`At30June 2025`	`11,750,479`

		`Cashheld`
		`by`
	`Listed`	`investment`
	`investments`	`manager`	`Total`
`Group`	`£`	`£`	`£`
`Costorvaluation`
`At1 July2024`	`5,768,964`	`160,420`	`5,929,384`
`Additions`	`310,501`	`(310,501)`	`-`
`Disposals`	`(240,844)`	`240,844`	`-`
`Revaluations`	`161,269`	`-`	`161,269`
`Managementfee`	`-`	`(24,219)`	`(24,219)`
`A£30June02S`	`5,999,890`	`66,544`	`6,066,434`

	`Group`	`Group`
	`2025`	`2024`
	`£`	`£`
`Duewithinoneyear`
`Tradedebtors`	`42,726`	`18,765`
`Rentsheldbymanagingagent`	`117,572`	`88,325`
`Prepaymentsandaccruedincome`	`132,852`	`89,887`
	`293,150`	`196,977`

	`Group`	`Group`
	`2025`	`2024`
	`£`	`£`
`Bankloans`	`560`	`560`
`Tradecreditors`	`31,952`	`17,753`
`Othertaxationandsocialsecurity`	`12,831`	`8,503`
`Othercreditors`	`9,829`	`8,449`
`Accrualsanddeferredincome`	`174,792`	`146,926`
`Grantspayable`	`196,829`	`232,163`
	`426,793`	`414,354`

	`Group`	`Group`
	`2025`	`2024`
	`£`	`£`
`Bankloans`	`62,775`	`63,796`

						`Balanceat`
	`Balanceat`	`1`			`Gains/`	`30June`
	`July2024`		`Income`	`Expenditure`	`(Losses)`	`2025`
		`£`	`£`	`£`	`£`	`£`
`Unrestrictedfunds`
`GeneralFunds`	`6,923,658`		`1,970,340`	`(1,692,582)`	`99,758`	`7,301,174`
`Endowmentfunds`
`EndowmentFund`	`15,838,075`		`-`	`(321,391)`	`71,354`	`15,588,038`
`Totaloffunds`	`22,761,733`		`1,970,340`	`(2,013,973)`	`171,112`	`22,889,212`
`Statementoffunds- prioryear`
						`Balanceat`
	`Balanceat`				`Gains/`	`30June`
	`1July2023`		`Income`	`Expenditure`	`(Losses)`	`2024`
		`£`	`£`	`£`	`£`	`£`
`Unrestrictedfunds`
`GeneralFunds`	`6,505,206`		`1,872,928`	`(1,775,993)`	`321,517`	`6,923,658`
`Endowmentfunds`
`EndowmentFunds`	`15,992,700`		`-`	`(384,294)`	`229,669`	`15,838,075`
`Totaloffunds`	`22,497,906`		`1,872,928`	`(2,160,287)`	`551,186`	`22,761,733`

	`Unrestricted`	`Endowment`	`Total`
	`funds`	`funds`	`funds`
	`2025`	`2025`	`2025`
	`£`	`£`	`£`
`Tangiblefixedassets`	`60,201`	`4,254,015`	`4,314,216`
`Fixedassetinvestments`	`3,536,731`	`2,529,703`	`6,066,434`
`Investmentproperty`	`1,128,478`	`10,622,001`	`11,750,479`
`Currentassets`	`1,247,651`	`.` `-`	`1,247,651`
`Creditorsduewithinoneyear`	`(426,233)`	`(560)`	`(426,793)`
`Creditorsdueinmorethanoneyear`	`-`	`(62,775)`	`(62,775)`
`Loanbetweenfunds`	`1,754,346`	`(1,754,346)`	`-`
`Total`	`7,301,174`	`15,588,038`	`22,889,212`

	`Unrestricted`	`Endowment`	`Total`
	`funds`	`funds`	`funds`
	`2024`	`2024`	`2024`
	`£`	`£`	`£`
`Tangiblefixedassets`	`55,531`	`4,182,056`	`4,237,587`
`Fixedassetinvestments`	`3,766,125`	`2,163,259`	`5,929,384`
`Investmentproperty`	`529,999`	`10,622,002`	`11,152,001`
`Currentassets`	`1,920,911`	`-`	`1,920,911`
`Creditorsduewithinoneyear`	`(413,794)`	`(560)`	`(414,354)`
`Creditorsdueinmorethanoneyear`	`-`	`(63,796)`	`(63,796)`
`Loanbetweenfunds`	`1,064,886`	`(1,064,886)`	`-`
`Total`	`6,923,658`	`15,838,075`	`22,761,733`

	`Group`	`Group`
	`2025`	`2024`
	`£`	`£`
`Netincomefortheyear(asperStatementofFinancialActivities)`	`127,479`	`263,827`
`Adjustmentsfor:`
`Depreciationcharges`	`183,789`	`148,844`
`Lossesoninvestments`	`(171,112)`	`(538,099)`
`Dividends,interestsandrentsfrominvestments`	`(802,705)`	`(783,848)`
`Lossonthesaleoffixedassets`	`540`	`-`
`Increaseindebtors`	`(96,173)`	`(30,821)`
`Increaseincreditors`	`12,439`	`44,797`
`Netcashusedinoperatingactivities`	`(745,743)`	`(895,300)`

						`Othernon-`
				`At1 July`		`cash`	`At30June`
				`2024`	`Cashflows`	`changes`	`2025`
				`¢`	`£`	`£`	`£`
`Cash`	`at`	`bankandinhand`		`1,723,934`	`(769,433)`	`-`	`954,501`
`Debt`	`due`	`within`	`1year`	`(560)`	`1,021`	`(1,021)`	`(560)`
`Debt`	`due`	`after1`	`year`	`(63,796)`	`-`	`1,021`	`(62,775)`
				`1,659,578`	`(768,412)`	`-`	`891,166`