cAMBDGE vicfoRIA HOMES (CIO) FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST DECEMBER 2024 CONTEKTS AND INFORMATION CONTEKrs.. PAGE .. Trustees, Armual Report Jndepejmlent ExatDiuer's Report SttheD)enl of FiDancial Activitie BalarL¢e Sbe ststerne of Cash Flow Notes to the FInacial Ststeots 8-13 TRUSTEES.. A R Blake. crreasur) P Cowell M Wishrt (Chair) J D&vison R Harding J Jones R MonK (President) M Wells ]RUST ADDRESS.. 38 VictOTAa Holl5 Victoria Road Cambridge CB4 3DX CHARITY REGISTRATION NUMBEL. 1177888 Ibxentis & Co LI & IndeFtnd•Ji Ex2miJws 115c Milton Road Cambridg¢ CB4 IXE BANKERS: Barclw BaT]k Cambridge Branch St Andrews Stre¢t CambTidge CB2 3AX INVESTMENT MANAGERS: charl Stwky & Co. Lilljited 1st FI¢ 3 Station Square Carttbridge CBI 2GB
CAMBRIDGE vicfoRIA HOMES (CIO) PAGE I FINANCIAL STATEMENTS FOR THE YEAR ENDED 3 1ST DECEMBER2024 Th¢ tntstse5 present tknir aDnuai report and fiJJaDcial staternts of the cbatityforthe year ended 31st Decenthu 2024. Tbe fiuaDcial statements have bew pr¢pared ill Myrdance with the ac¢ouDttDg poli¢ies $¢t out in note i to th6 a¢¢oullt$ 8nd comply th the ch15 trust dee the Charities Art 2011 aDd AcwuDting and Reporting by Charities.. Statement of liecommended Practtee appliL¥ble to cbarities preparing ther accOuts ill awd4¢ witb th¢ FiDaucial Rq)orting Standard opplicable in the UK and Republie of Ireland (FRS102) (efftttive l January 2019). I. OBJECTIVES, AcfJviTIES AND PUBLIC BEYEFIT The objects of the CIO are lo provi(le subsidised COMM(latio facilitt¢s uod finaDcia] wpport for th¢ elderly d ov¢r 60 years of age: in particular but Dot exclusively to tlu)se who baye previomsty lived withitt 20 miles of GTeai St May's Churth in Cambridge aTMI memtr of FrieDthy YAKithi¢s. The ChgrAtymaintatDs 16 one bedn)om unfunllsbed bungalow5 to provide convenient accomDMMkntion for elderly people ill a ¢ott]munity sethtig. The bgalOw5 set in altractive18ndw grounds, alongside allotments a])d 8 pavilion Ththi¢h provide soGial facilities for tbe residents. There is a part time warden, but there is JLO provision for nLrsing OT other care services because the accomm¢)dation A5 prinwily for those &ble ty live illd¢p¢ndeDtIy ID the cornrnuDty. The Trustees encowag¢ J positive sense of comtnunity amongsLthe residenty as self-help and independ¢nt liviug are recogDised a8 important elements for mailltaining a beaithy lifestyle. The trllstses confinn that they have referred to guidgnce i&wed bythe Chty Comrion oThpublic benefit wben rcvigwing the thariW8 aiJDS fUtt¢ plan8. 2. STRUCTURE GOVERNANCE MA.YAGEMEFir The dwrity w4s originally formed uDder a tnLSt deed 1837. In 2019 it w&8 as aCI]aritable Incorpornted Organisalion. ctwity registration number 1177888. The management of the Cambridge Victoria How is ulldertak by a CoDIlni of Trustees. The TThtees rneet every Mon ex¢luding August and D¢cember. to agree the broad straiegy awl OTtsS of a¢tivity for the ¢bority. inCludig cons1dr10n of invesmients. reserves alld risk allge)ent policy and performaJLce. The tnL8tees appoint a Chaitperson to chair thc meetings of thc charity tnistees and oversee the general ruuniDg of the CIO, as well as oth¢T wjsitions such as President and TreaSer. These offiecrs ar¢ noTmally exFtcted to Serve for a tenn of & le&%t two years, altbougb this can be extended at Ihe discretion of the charity tr[L$t$. The day to day running of the Homes is undertaken ty a parttime Secretsry w]d Warden wky) are remunernted and report directtyto th¢ COMltte The COMltte¢ keep5 uuder review the skiu requiments of the TnL8L b ensureg thaL in the ¢v¢nt a Trustrc retires or additional trustees ttquir¢d, ll¢w TTU51¢¢5 h&v¢ skills tbat are able to contribute tomvds &d)ieving the charitS objectives. No other organisation makes any &prtIn¢llts fo the Committee anddecisions about new trustees are made solely by the Comtnittee. The induction prot for any newly apFKJittted Tntstee ¢OmPTiS¢5 a meeting withthe Chair, introduction to the residents, provision of copies of the trus¢s Constitutio operatiotl guidelin4 policics and the last two y.ears financial statements. 3. ACHIEVEMENTS AND PERFORMA)I CE The charity has achieved its objectives during the year. Th¢ T&wlts for the year are considered to l* satisfactory and in lin¢ with the budget for the year. One accommodation Wdcan¢y 0rred in February 2024, andthis was filled itt Septenther 2024. Oth¢rwige. all prOttle5 were (Kcupied throughout theyear with 17 charity beneficiaries. Dwing 2Q24, in addition to the gll1 ti]ainten4n¢¢ wrt SEifiC maintenance items for the charity included.. R¢de¢oration and minor repairs to vacant unit no 18 costtng apprOxiatefy £1,700, and to unit no 5 for a similar amounL tnvestigation of reported damp issues at unit no 3 and inslIatiOn of a Fr¢n¢b drnin Éo s¢ck to r¢6olv¢ this [n¢u]ng cost of approximately £3,000. Miller Buildings - bricking up of 8aps iti the loft fire wal]s for£2,750. and replacemellt of dilapidated guttering and dom pipes.
CAMBRIDGE vicfoRIA HOMES {CIO) PAGE 2 FINANCIAL STATEMEKfs FOR THE YEAR ENDED 31ST DECEMBER 2024 TRUSTEES, AKNUAL REPORT.....cowr Provision of a whcElchair 4fjfje&8 Tamp for Do 20 to assist the cwrentresident to entrr and leave the property. The tharity agreedto contr1Ute £600 to the cosL Replacement fencing in the Hom¢s' groullds l£1.602) and upding ofthe flooTing in the pavilion SUD room (£1.568). A nLrober of Ix)iler repairs in tbe autumn of 2024. The sigttifi¢ant inGrease in energy r<)sts, although lower than tasty¢ar. c4Jntinues to put pressure on this area of the Homes, budgds, and the vaTiWS T¢gulatory cbecks such as fire safety ID510 PAT g45 5thty cb¢(s ur¢ inrr¢a3illgly a significant element in the Homes budget. Howev¢r, the T were again able to offereach resident a £150 grnnt over the winter of 202415 to help tbfflD with th¢ir ¢nffgy and lIlty bAUs. Unfortullat¢ly, th¢ rEsidEDt5 have had to c105e their Residents A&sociation arr• which Previo$1Y they tssed to organise their Social events. This wa8 due to incre&sing difficulties th¢y expericncLxl in managing their hank account a5 a result of ballking Testrictiolls aud bTanGh cloSUT¢S. The l"Trees have therefore orwised ond subsidised apr(wgnllne of ocoasional resident outings to compensate for thts los4 iDcludiDg visits to th¢ l(Ya] botanica] gard¢n5 a1 garden c¢ntr¢s. The TnT5tses also OTgallised a Strawberries and Crwn ¢verf for the residents and their friend$ 8nd fami]ies in tbe summerof 2024. 4. FLNANCIAL REVIEW The net income for the year before gains on inv¢3trnents WBS £24,1¥2 (2023: net income E28.200). The net movement in fimd8 w&s & inu¢&s¢ of £48,021 (2023.. ID¢8¢ £40,025). Prinfjipal Funding SourG¢S Th¢ principal souwes of fimdillg for the Charity are the l¢vies re¢¢Av¢d from resid¢uts and rettjrns ern¢d frotn the invesknents. From time to time it reeeives bequests, graDts and donations. usually small scale. whicb are grdtefvlly received aml used to furttLerthe Hom¢s obje¢tiVe5. Prin¢ipal AT¢ of Expendi a) Repairs gJ)d Maintenall¢e- The cost of ]nts]n1ng th¢ homes to a high StaDda remains a significant burden on the ChaTity'5 fjnancial resource5 and every project is carefulty considered prior to implen)entation. Majorrefurbishment works must be planned in conjunction with routin¢ but the OPPOTtuntty is take when properties become Yac8nt. to upgrade and refvrbish the homes as nerzssary. b) StatSllg-th¢ ChaTity ¢p]OyS 8 part time Secretary (15 hout5 per wcek) alld apjrt time W4rd¢n (18 houT5 p¢r we¢k) and nkeS a paymentto one resident to manage the pavilion opeDillg and closing. A telephone lifrline system is a]so ontrdGtcd to provide erner8¢n¢y SUprt for the ridents. The Ttwtees are satisfied tbat tbese provisions med the day to day operational requirements. Reserves Policy It is the policy of the Cbty to hold unrestricted ata level sufficient to cover the costs of n]Aintsining each resid¢ntial propeTty atthe appropri*e standard f(Y the foraseeable fuhre. The general fimds at 3 1 December 2024 were £1.51m (2023 £1.44m) Sho in note 10. A substantial PTOPOrtion of tbe Charity's propErtieS and are oveT 100 ye0 ajd as a CODsequence Tequire Ix)th reuular maintet)attce and improv¢]nonts. The investtnenls are held to both genernte income and to fund wXpected major building works to achievc the policy ted alxjve. The Trees, al by plaDning regular maintenance, is to break-even before investment gains alld105ses in tlje short t¢rni. However. it is considered thdt the res¢rv¢s held within the Inven1p0rtfDlio are 5ti11 relatively low in comparison with the potential fiEICial risk of llmior unexpected builditig works du¢ to the age and llunth¢r of proFKrtie5. The Thistees 8re satiyfied that the EK)licy ]Mrted above is being n)aiutsillcd. Investment Poli¢y Inrespect of the portfolio the level of ineome to b£ achiev slwuld be An exc&ss of average Ff All Share yield. Not thaTL tcnper cEnt ofportfolio to b¢ held iu any one stock. The policy is to hold investments over the long terni and iD this contsxLthe TnteeS consider the perforniance ofthe investments to be adequatr.
CIWBRIDGE VtCTORtA HOMES {Cto) PAGE 3 FINANCIAL STATElNTs FOR THE YEAR ENDED 31ST DECEMBER 2024 TRUSTEES, ANNUAL REPORT.....CONr Risk Management The Trustees have a risk management St13te which cornprises.. A Th annual revieiv of the risks the Charity may fa¢¢ The establishment of systemy and pCedureS to milbgate those risks identified in th¢ plan and The implementation of proc¢duTes designed w tninimise tential impact on the charity should those risks mat¢rialis¢. A key ¢l¢ment in the managetnent of finan¢ia] risk is the settingof a reserves policy &s above and its regular review by stees. The Trustees are satisfied that the Charity ¢an continue as & goin8 con 5. PLANS FOR FUTLIRE PERIODS Th¢ key obje¢tives of the CIO will continue ty be provision of 5ub5idised actommodation, ociated facilities and financial support for th¢ ¢ld¢rly and infirm over 60 years of ag4 en5ufiDg full owupanry of ail the hornes. and maintaining both these and the grounds to the highest p)ssible standard. The Board introduced a long terni major maintenan¢¢ and improw¢methts progrdmme in 2018. Future works iiems in this programme for 202516 include repointillg w'ork for several of the bUng0s, repl&¢ment of the roof5 for unit5 1 and 3 as these are panicularly dilapidated, loft Tepairs for UDits 15, 17, 19 and 21 and investigation of the opportunities for instsllatiDn of solar panels or other energy s&ving technologit5. 6. S'IATEMFNT OF TRUSTKES RESPOYSIBILITIES The trustees are responsible for preparing the Tnts¢ees' Report and the financid statements in accordance with applicable law and L'nited Kingdom A¢counting Stsndards. The laiv applicable to charitie5 EngLand and 'al¢S r¢quires th¢ trust¢e5 to prepare financial statements for each finathciai year Nthich give a tn and fair view of the stste of the affair5 of the ¢harity and of the inconiing resources and application of resources of the clLarit)' for that riod. In preparing these financial siateinents, the trustees are required w.. Select suitable accDuntÉng w)lictes and then apply thEm COllSi5tenily. Obs¢rve the methods and priThciples of the Charities SORP. Nqake judgements and e51imates are reasonoble and prudent. State whdher Opplicable accouTriing standards and statements of recoThmeded practice have be¢n followed, subject to an). departures disclosed and explained in the fitban¢ial statements. Prep&re the finanGi&l statcments on lh¢ going ¢on¢¢rn b&sis unless it 1$ iiwpropriate to presume that the charity will ¢ontinue in operation. (iv) (vl The trustees arE rc5pon5ible for keeping proper accounting records Mthich disc105e wtth reasonable ac¢urocy at any tim¢, the financial sitiOn of the ¢hariry and to enable them to ensure that the financial 51atemcnts cornply with thc Charities Act 2011, and the applicable Charity (Acwunts and Rewrtsj R¢gulatiO. They are also responsible for Safeguarding the 255ets of the charity and hence ttsr taking reasonabl¢ st¢ps for the prevention And d¢te¢tion of fraud and other irregulariti. 7. KEY MANAGLI MEFrr PERsoyfTL REMUNERATIOI¥ The Board of Trustees consider then¢[w¢S to be the k¢y management and are not remunetated. . APPROVAL DECL41L4TION The report wa8 approved by the inLgtees on I f JiA•Le 202 f and signed on iheir behalf. AQE/dk A RBLAKE. TRUSTEE
CAMBRIDGB vicfoRIA HOMES (CIO) PAGE 4 FfNANCIAL sTATEmErs FOR THE YEARENDED 31ST DECEFrfBER 2024 tNDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF cAmBRE VICTORIA HOMES (CIO) I report to the Charity TnLStee5 on my eminatiOn of the accowits of th¢ Chjrity for the yeEr ended 315t De¢ber 2024. ich are set out on pages 5 to 13. RESPONSIBILITIES AND BAS OF BoRT As th¢ chIty'S Thjstees of the arity you ar¢ r¢spoDsilJl¢ for the prepmtion of the Accounts in withthg requirements of th¢ Charlties Act 2011 (Ihe 2011 Ace). Having E¢en satisfi¢dthat the accounts of the Charity 8Te not required ro be audited under the 2011 Act are eligible for independent examinatson, I rem in respeth of my examinath( of your Ch4tity5 accounts carried out wJd¢r 5.145 of the Charitie5 Aci 2011 Ctbe 2011 Art). In carrying out examinatton I have followed the Directions given by the Charity commi1) under s.145(5Xb) of the 2011 ACL INDEPENDENT EXAMINERS, STATEMENT I have completcd my eXatnItiollL I confiTm that no matters have come to my in ¢oJ]nection withthe examination which give me cause to believe.. (l) accounlillg records were not kept of the Cbatity as tequired by 5.130 of the 2011 AL* (2) the accounts do not accord with thos¢ autillg TecoTds' (3) the Count do not comply with the applicable requiraJ]ents concerning the ft)m and contents of the accowits set out in the Charities (Accounts and RepoTts) R¢gulations 28 other t]] any requirement that the accounts give a Iru¢ and fairf view which is ))ot a matter Co%]dered as part of an independent ¢xaTDin3tion', or. (4) the accounts have not been prepnt in accordance with the methods aThl principles of the Statement of Recommended Practice for accowittt)g and rep)rting by chaTities (applicable to chaTiti¢s pparAtiS their ac£ounts in accordance with the Fioallcial R¢portiDg StrTMlard app]icabl¢ ID the UK and Republi¢ of Ire]and (FRS102)). I have no ronc£rns alld have come across no other matters in connecuon with the ex#mination to Mthich attention should be drawn in this report in order to cll&ble a proper uoderstsllding of rhe xcounts to be Teached. IAN W SHtPLEY FCCA FOR ON BEHALF OF: PREKfis & CO LLP CHARTERED ACCOUNTANTS & 115¢ Milton Road Cambridge CB4 IXE Sokn tszE .
CAMBRIDGE VICTORIA HOMES (CIO) PAGE 5 FENANCIAL STATEENTs FOR THE YEAR ENDED 31ST DECEPABER 2024 STATEMENT OF F]NANCIAL ACTIVIT]ES 2024 2024 UnKstricted R&striCtcd Fund Fund8 2023 2023 2024 Unrestricted Restricted Total FdS Fun( 2023 Total Covenpffis. donalions d legaLies Iuve5tsuellt incom¢ IncorAe from eharltable attivities: t£vies frorn Tesidents Other incoming resoiirces Total In¢om¢ 3,414 38.102 3.414 38.519 1.120 36.020 1.120 36.292 417 272 101.651 7.813 101.651 7,813 151,397 99.645 3,868 140.653 99,645 3,868 150,980 417 272 140,925 EXPENDITURE Costs of r4i5ing fund5-. Investment manasement Costs 6.533 6,533 6.130 6,130 Expendfjtre on eh¥4ritable activities: Light and heat Water charges Insuranee Repairs and maintenallc¢ Sub5criptio]]s S&laries Telephone and care c1 Printin& slationery and advertising Gifts residents welfar¢ Sunihy ¢xpenses Depreciation dependent examination fr¢ Total expEJ)dltllre 4,014 976 2.631 31.314 417 34213 4.389 654 4,501 2295 32,150 1,560 4.014 976 2.631 31882 417 34.213 4.389 654 4,501 2,295 32.150 1,5tgJ 5.053 892 2,478 24.437 243 32.059 3.825 171 3,382 396 31150 1.503 5,053 892 1478 24,437 243 32,059 3,825 171 3,382 396 32.150 1,503 112.719 1.568 125,647 1.568 127.21) 112.719 Net IDcome and net movement th fund5 before gains I0e5 071 Inve5tment5 Net gains on inyeythjent Net movement in fuDds for the year 25,333 23,839 (1.151) 24,182 23,839 27,934 11.819 272 28,206 11,819 49.172 (1.151) 48.021 39.753 272 40,025 Reeoneiliation of funds Total fuud5 brought fonvaTd Total funds earrted forward 1.959.198 19.481 1.978.679 1,919,445 19209 1.938,654 2,008,370 18J30 1026.7(M) 1.959.198 19,481 1,978,679 The stateme of Financial Activities includes all gaitis and 1055es reco]5 in the y¢aT. All inCOll and expenditure derive frorn CODlinuing aclivitie& The notes on pages 8 to 13 form part of these fitMncial statements.
CAMBRIDGE VICTORIA HOMFS (CIO) PAGE 6 FINANCIAL STATEMEKfs FOR THE YEAR ENDED 31ST DECEMBER 224 BALANCE SHEET 2024 2023 FIXED ASSETS Tallgibl¢ assets Jnve5tments 784,384 721484 816,534 677.170 1,493.704 Totsl fixed a8sets .506.868 CURRENT ASSETS D¢btors Cash at bank alld in halld 2218 532.517 2,086 487.367 Total cUent assets 534.735 489,453 LIABILrriES'. Cr¢ditOT8'. alnounts fa]ling due within one year 14.903 4,478 Net Cwrent Assets 519,832 484,975 NEf ASSETS 2.026.700 1.978,679 THB FUNDS OF THE CHARITY Restricted Fwhd8 Unrestricled Funds 18,330 2.IM)8,370 19,481 1,959.198 io Totsl Charity Fund5 2.026,700 1.978.679 financial statements weTe aPprnv by the TnL8ts on /r Jtr itsA s" and signed on its behalf. /]_ ft 121d A R BLAKE TRUSTEE The notss on pages 8 13 forni part of these financial staterllents.
CAMBRIDGE vIcfoRtA HOMES (CIO) PAGE 7 FINANCIAL STATENIBNTS FOR THE YEAR ENDED 31ST DECEMBER 2024 STATEMENf OF CASH FLOW Note 2024 2023 Net cash provided byl(u4ed in) operdting ctivities 14 28.106 22,193 CASH FLOW FROM INVESTING ACr[vis. Ent¢r¢st and divideDd5 Rental income PUrche of Tnyestments Pr(Keeds from sale of investments 28,000 10,519 (64,082) 41607 23,496 12,796 (153.905) 157,386 Net ¢8sh provided by investing a¢tiviti¢$ 17.044 39,773 Change An casb al ¢&sh equivalents in tbe year b and e&sb equivalents bTougbt forward C&8h and cash equivalents carried foTward 45,150 487,367 61,966 425,401 532.517 487,367
CAMBRIDGE VICTORIA HOMES (CIO) PAGE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST DECEMBER 2024 NOTES TO THE FfNANCIAL STATEMENTS ACCOUNTING POLICIES The ftblluwing arci)UDlillg policies have Sed consistenty through1 yeBr in dealing wilh itrrns whith p considered mateiiai in relatiollto the financi &taternents. (a) BASIS OF PREPARATION OF FfNANCtAL STATEMENTS AND GONG CONCERN The fillanciai statements bave been prepared under the bistorical costconvention with the exception that inve51ments are included at market value and include the Tesults ofthe thaJitys operatiOll5 wbith are described in the Trustses, R¢port and ail of whiGh &re ¢otitiDuillg. The finallcial Stst¢ havE been prepared in accordance with the Statement of Recommended Practice "AwowrttDg aDd ReportiDg by Chartti¢s' applicthle to c1]tieS prepor] their accounts in accordattce with FiDancial Keporting Standard applicable in the UK and Republic of Jrcland (FRS 102) (effective l January 2019) and the Cbarities Act 2011. The Clwlty ¢onstitirtes 8 public benefit entity defilled ty FRS 102. The Tnt¢¢3 Wll5ider th4t th llJa¢¢ri wiwtrillti¢s thiut th¢ Clthrity's abllity to continue a5 a going concern. With respect to tbe next reporting w&o(L 31st December 2025, the most significant areas of uD¢¢rtainty that affe the canying Vdlue of a55ets held by the Challty are the pthrnwice of iDveslmeDt rnJTkets (sec the investsnent policy perfonmce alld Tisk management sections of the Trle£S annual repon for more ]nfOrn10n) and Tisk of mr4jOi llforese¢n WO on the cbaTity's properties. (b) IN'COME RECOGNITION All in)me and grants recognised in the Statement of Financial Activities when the clwity bas ¢lltit]¢]nen¢ to the income th¢T¢ is r¢wonabl¢ &55urallce of TKeipL wh a C]&] for rEpaymEni of income tax has or will be made. such inconie is gr05sed up forthe tax recoverdble. lkn¢ following accowIti policie5 are applied to iDcom6: Donation5 and 911 otheT recelpts from fimdraisiDg aTe ret gross and rccognised when the clwiry has entitlement to the donation and can be measured reliably. Juv>ment income is &coullteAI for whenreceivable. Debiors are t¢¢ogntsed at the settlement due. (G) EXPENDITURF. RECOGNJTION All exp¢nditUTe is accounted for on an accnlS C(ksts of raising funds art ¢0sts as$1)ted with the JnaDagrnt of iJhv¢stsnemts. Charitabl¢ ¢xpenditure ¢¢)uwi3 th(bs¢ ¢(¥sfs inwrr¢d byth¢ Clwity in th¢ deliv¢ry of its aGtivitiES aTLd 5CTViGes to tbe beneficiarA&s. Governance costs include costs asSlated with meeting the constitutional and Statutory requirements ofthe Charity. Value added tax is )t recoverable by the charity. and &$ such is included in the Televant costs itk the Ststern¢nt Finala1 ArtiViti¢s. Liabilitie5 are rewgnised as expenditure a8 Soort thcre is & legal OT constrllcÉive obligation cornmitting the charity to expenditure. it is probable that settlement be requtred and the amount of the obligation be measured r¢liab]y. (d) FUND AccouKfiNG Unrestricted fiEllds are generai fimds that are available for at the Trtee5 discr¢tion in futheTaDce of the objectives ofthe ¢hartty. DesAated funds are UDre5tricted fuDds set a8ide at the di5crdioD of the Trust¢Cs for s¢IfiC purposes. Restrictsd fund5 arc those dollatEd for usc in a particular area or for specific purpose4 the use of which is restricted to that area or purpose by the donor.
CAMBRIDGE VICTORIA HOMES (CIO) PAGE 9 FINANCIAL STATEMEKfs FOR THE YEAR ENDED 31ST DECEMBER2024 NOTES TO THE FINANCIAL STATEMENTS (e) TANGIBLE FIXED ASSETS LND DEPRECIATION All assets 5[ing mOTe that £IOOO are c8pits]ised and Vall at historical cosL D¢preGiation is provided on cost or deemed valuatioll in equ418llnual insts]ments over the estinMted lives of the assets at th¢ followiDg rates.. Frechold buildings Land Fixtur¢$ attd fittings Offi(% equipLn¢llt 2% straigbt line basis is Dot deprlat¢d IO% styaight IiDe basAs 25QA straight line b&sis (fj FIXED ASSET INVESTMENTS Investents are a fonll of baqic fit)ancial iDStnJment and are initsalty recognised attheir transa¢tiott valuE aud SLLbyequentty measured at theiT fair value as balaDce yh¢ct date using the closing quoted ma]tet price. The Staiement of Finaneial Actisryties includes net gall)s and10&4es lsing on revalu10 aDd di4)osds througbout the ye8r. The chaTity dS Dot geD¢raity awire pul (y¢i¢m% Ikriv*ives or other leX fuclaI instruments. The maijj forrn of fina11 risk faced by the charity is that of vola(i]ity in equity markets and inve81tu¢ut uwkets due lo wider economic conditions. the attitude of investor5 to inve51m¢nt risL and ¢bang¢s in sentiment c4yncemiDg equities alld within parti¢ular sectors or sub sectors. (g) GAINS AND LOSSES ON INVESTMEM3 All g2ins and losses are taken to the State)nent of Financial Activities a5 they aris¢. Realtsed gains alld losses on investment5 pJe cal¢ulatrd as th¢ difftr¢llc¢ betsveen sales prrtccd5 and opening n)arket value (or pur¢hpse cosl if uired iti the year). Unrealised aIns and105ses are calculated as the difference between fair value at the Y end and opening maTkct value (or purcb&se cost if Acquired in the year). R]Sed and unrealised gaiT)s are uot 5epaTatEd in the Statement of Financial Aaivities. (b) CASH AT BANK AND IN HAND Ch JI bank aDd cash in hand iurludes cash and shortterni higbty liquid iTrVestrots with a maturity of one year or less from the date of awuisition or opeuiDg ofthe deit or similar ot. [VESTr INCOME YEAR ENDED 3 1ST DECEMBER 2024 2024 2024 UnStriCted Restricted 2024 Incom¢ from UK listrd xnvesth)ents Income from non UK listed invesl Bank and other interest UK rentsl income 15,305 3,699 8,579 10.519 15,305 3,699 8,996 10,519 417 38,102 417 38,519 INVESTMENT INCOME YEAR ENDED 31ST DECEMBER 2023 2023 2023 Unr¢3tri¢ted Restricted 2023 Jncome from UK listed investrnents Income frorn noD UK list iDvestmeDts Bank and other interest UK rental income 14221 4.624 4,379 11796 14,221 4,624 4,651 11796 272 36,020 272 36,292
cAMBRllE VICTORIA HOMES ICIO) PAGE 10 FINANCIAL STATEMENfs FOR ]HE YEAR ENDED 31ST DECEMBER 2024 NOTES TO THE FfNANCIAL STATEMENTS NEf COmE FOR THE YEAR The surplLts Df inc0e over expendihtte forthe yeJr is stakd aftcr dwgiDg.' Depreciation of *ble fixed assets Independent examiner fee 2024 2023 32.150 1,560 32,150 1,503 STAFF COSTS The staff ¢osts w¢re: Salaries P¢D811)ll GODtnl)ution5 Agency staff 2024 2023 33.954 259 31.190 244 625 34.213 32.059 The &rge monthly nwllbeT of Staff employ byth¢ chaTityduTiDg the year as follows.. 2024 2023 DiTeth eharitsbl¢ No employees enJolum¢nts ex¢eeded £60,IXKI. The Board of Trustees consider thnSelveS the key management atMI they aTe not remunerated. TANGIBLE FIXED ASSETS YEAR ENDED 31ST DECEMBER 2024 COST OR VALUATION Balance at l st January 2W24 and 3 1st DecembeT 2024 DEPRECIATION Balance at 1st January 2024 Chargc for the year Balance at 31 tkcember 2024 Office Equ3P]t Fixture5 & FT¢ehold land FAttings & buildings Totsl 87 38,966 1,593,156 1,632,209 87 38.391 287 777,197 31.863 815,675 32.150 87 38.678 809.060 847,825 NEf BOOK VALUE at 31st December 2024 288 784,096 784,384 TANGtBLE FIXED ASSETS YEAR ENDED 31ST DECEMBER 2023 COST OR VALUATION Balance at 1st January 2023 and 3 1st Deccrnber2023 DEPRECIATION Balan¢¢ at 1st J8nuary 2023 Charge for the year Balallc¢ 4t 31st Der¢rniKr 2023 Fixtures & Freehold laDd Fittings & buildi Fquipment Tots] 87 38,966 1,593,156 1,632,209 87 38.104 287 745,334 31,863 783,525 32,150 87 38.391 777,197 815,675 NET BOOK VALUE at 315t December2023 575 815,959 816,534 Th¢ historical cost of additii)DS to frthold pmperty since the r¢valuation ID 1997 amounts to £516,609 (2023.. £516,609). The net book value based on the historical cost of these addttiODS 15 £288.88612023.. £299,218). For puiods bEfor¢ th¢ valuation the historical costs ar¢ not known &5 they were expensed incued. Buildings have been included in the bala shcet at rnarket value at 3 1st De£ember 1997 plus improvements since then at cost. The Yalue of the land was disregarded at the valuation in 1997. In accordance with FRS 102 the trllstees have d¢cid¢d not lo revalue the propeTty.
CAMBRIDGE VtcroRIA HOMES (CIO) PAGEII FINANCL4L STATEMENtS FOR THE YEARENDED 31ST DECEMBER 2024 NOTES TO IHE FINANCIAL STATEhlEKrs tNVESTMENfs HEID AS FIXED ASSETS YEAR ENDED 31ST DECEMBER 2024 2024 2024 IAud Securities 2024 Totyl Mats value 8t Ist January 2024 Additions Disposals N¢t realised gaills Nei unreali8ed gains MaTket value FAt 31st Dwember 9024 1250 675920 64,082 (42,607) 1,409 22,430 677,170 64,082 (42,607) 1,409 22,430 1.250 721234 722,484 Cost at 318t Decejnber 2024 1.250 621.504 622,754 INVESTMENTS HELD AS FLYED ASSETS YEAR ENDED 31ST DECEMBER2O23 2023 2023 2023 Totsl Seeuritieg Market value at 1st January 2023 Additions Dispo88]s Nei realisej losses NetU]]rralL gains Market value at 31st December 2023 1.250 667.582 153,905 (157,3861 18,569) 20,388 668,832 153,905 (157,386) (8,569) 20,388 1,250 675,920 677,170 Co8t at 3 1st Decetnber 2023 1.250 596,071 597,321 All Instellts gre carried at theiT fair Value. Inv&stsnents in equities and fixed xnter&qt secwities are all traded i quoted public mthets. Holdings in urtit t[sts, opellendcd invested conw8nic8 and hedge fuTh(L8 are valued P¢t bid or published net a&set value rllodel prices. The basis of fair v&tues is the Maet value. The charity matsag investments and associated illvestn*nt risks by wing Charle8 Stanl¢y & Co Limited a8 invesknent wan&g¢rs. They have dtscretion as to the inkeslment approabh cknsen based oll a mediunjllow tisk withbalanced objectives. The ClrItY relies on its investen to produce r¢gulaT in1¢ and capithl grovrth as a colltiiigerA in case of necessary and costly building WO of its pfopernies. The Trustees beliei""e the rnediuttbqow iisk Ind balanced approach pffikides $uffici¢nt liquidity aud security of fi]nds to enable thi& tnvesmJenLS held within the p)rtfobo that exceed 5Yo ofthe rotal value are VangLthrd Funds (5.47DA) {2023.. 6.32/). No otber invcsttDents comprise 5Tr/0 or of the EX)rtfolio. DEBTORS 2024 2023 one year one year Pr¢paymellts and ac¢rued income 2,218 2,086 CREDITORS ?024 Due within one year 2023 Due within one year Accruals and deferred 14,903 4,478
CAmBRI[E VICTORIA HOMES (CIO) PAGE 12 FfNANCIAL STATEMENfs FOR THE YEAKENDED 31ST DECEMBER 2024 NOTES TO THE FLNAliCIAL STATEMEwrs MOVEMENT IN RESTRICTED FUNDS YEAR ENDED 3 1ST DECEMBER 2024 R Alsop P4vi]ioll Fund Tolal 2024 Balance at 1st Jamwy 2024 7,892 169 11,589 248 (1,568) 10.269 19.481 417 (1,568) 18.330 Exwiditure Balallt6 at 3 1st Deccmlw 2tr24 8.061 R Alsop Pavilion Fd YEAR EKDED 3 1ST DECEMBER 2023 2Q23 Balance at 1st 18twary 2023 h]come 7.782 iio 11.427 162 19.2¢YJ 272 Balance at 31st Dece]nber 2023 7,892 11.589 19,481 R Alsop OBE left a legacy to the GbaTity, to us¢d sp1c4Y Io Provide an anllual dinDeT for the residents, staff and comrnitttt. £IO,QOO was received from the estate of Sir Artbur MaTSball towards th¢ d¢v¢lopEDenl of the P&vilioll. io. MOVEMENT UNRESTRtCTED FUYDS Ba]ar at YEAR ENDED 31ST DECEMBER 2024 1st January 2024 BalGO 4t 31st December 2024 gains at Ioys¢S Incom¢ Transfers Revaluation Re5fflve General Fund8 516.741 1.441457 {21,531) 21,531 495.210 1,513,160 150,980 (101,808) (101,808) .959,198 150,980 2,008,370 MOVEMENT IN LfNRESTRICtED FUNDS Balance at YBAR FNDED 31ST DECEMBER 2023 1st January Balan¢¢ at 31st Dxember 2023 gai115 and losses 2tr23 Revaluation Reserve General Funds 538272 lJ81,173 (21,531) 21.531 510,741 1,442,457 140,653 (100,900) (100,900) 1.919.445 140,653 1.959.198 Th¢ traDsf¢r of £21,531 fro the Tevaluation Tes¢Tve to 8al fijnds represents depreciation included in the Statement of Financia] Activities as a expense on th¢ r¢valu¢d fr¢¢hold building5.
CAMBRtDGE vicfoiuA HOMES (CIO) PAGE 13 FfNANCIAL STATEMENI'S FOR THE YEAR ENDED 31ST DECEl*tBER2024 NOTES TO THE FINANCIAL STATEMENrs ANALYSIS OF FLfNDS Total Unrestrithd R¢stricted 2024 2023 2023 Total 2023 2024 2024 Tangible fixed &ssets InVllnents Net ¢urreut assets 784,384 722,484 501,502 2,008,370 784.384 722.484 519.832 816,534 677.170 465,494 816,534 677,170 484,975 1.978,679 18.330 19.481 18,330 1026.700 1,959.198 19,481 12. TRUSTEES TRANSACTIONS No expenses were reimbursed io the kntsttts during the year and the trustees all give theirtime and expertise without any form of reMunatiO 13. BELATED PARTIES The sistur of A RBlake. & tru51¢¢. 15 employed by the Chty for secret services. She teeeivediejnuneration at a similar level to her predecusLf and thi5 is ¢j¢teTubY th¢ tNstee5 with no involvemeut of A R Blake. 14. RECONCtLIATION OF NET MOVEMEKr IN FLNDS TO NET CASH FLOW FROM OPERATING ACTIVITs 2024 2023 Net M0Ment in fimds Add back depreciation cbArge Deduct inveslment Tncome shown in itsv¢sting activitie5 Deduct 15 on inv¢5ttnents (tncreaselldecrea5e tn debtors tnCTe8w,(de) iu creditors NEtc&sb provided by operatiDg activities 48.021 32,150 (38,519) (23,839) (132) 10,425 40,025 32,150 (36,292) (11,819) (603) (1.268) 22,193 28,106