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## 

|`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`<br>`3CromptonCourt`|
||`AttwoodRoad`|
||`Burntwood`|
||`Staffordshire`|
||`WS73GG`|





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|`:`<br>`Risk`|`CurrentControl`|`New`<br>`Actions`|`Mitigating`<br>|`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 `<br>`restricted`|||
||`reservetocashbacklong-termcapitalpro-`|||
||`jects.`|||
||`Monitorcostoflongdurationcapitalprojects`|||
||`closelytoensurecompletionwithinoriginal`|||
||`estimates.`|||
||`ReviewallCMF/ERFcommitmentsduring`|||
||`thebudgetprocesstoensureestimatesare`|||
||`accurateandincorporatelikelycostuplifts.`|||





## 

## 

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



## 

## 



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## 

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



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## 

|`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%`|



## 

## 



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## 

## 

## 

|`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& `|<br>`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`|





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## 

## 

|`Metric`<br>`(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`<br>`oftotalso-`|`0`|`0`|`0`|`0`||`housingunitsbutrequiresgreaterclar-`|`Ast`|
|`cial`<br>`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.`||
|`‘`<br>`Reinvestment`<br>`°`|`6;`|`0`|`6`|`6`||`Reinvestmenthasincreased.Thisisre-`<br>`f`<br>`:`<br>`;`<br>`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-`<br>`ity’sscorehasimprovedhowever,the`||
|||||||`charity'srankinghasremainedstatic.`||





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## 

|||`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`<br>`year`|`17`|`(426,793)`||`(414,354)`||
|`Netcurrentassets`|||`820,858`||`1,506,557`|
|`Totalassetslesscurrentliabilities`|||`22,951,987`||`22,825,529`|
|`Creditors:amountsfallingdueaftermore`<br>`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`|





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## 

||`Note`|`2025`<br>`£`|`2024`<br>`£`|
|---|---|---|---|
|`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`|





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## 

## 

|`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`|



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## 

||`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`|





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## 

## 

||`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`|



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## 

|||||`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`|



## 



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## 

||`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`|`.`<br>`-`|`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`|





## 

## 

## 

##