2025-05-31-accounts

WILSON MEMORIAL HOMES Charitable Incorporated Organisation Registered Charity No. 1184260 TRUSTEES, REPORT AND FINANCIAL STATEMENTS FOR THE YEAR TO 31 MAY 2025

WILSON MEMORIAL HOMES Reference and Administrative Inforniation Trustees Hilary Holland (Chair) Michael Bames Michael Dobson Maureen Granville Julie Gutteridge (Treasurer) John Bnan Hogg Sally Margaret Nelson Peter Sedgwick William John Wilson Charity Number 1184260 Prln¢ipal Address Brampton Community Centre The lrthing Centre Union Lane Brampton CA8 1BX Independent Examiner Miss A Taylor Am)athwaite Carlisle Bankers Bardays Bank PLC, Rosehill. Carlisle Cumberland Building Society, 19 Front Street. Brampton, CA8 1 NG cc￿ Senator House. 85 Queen Vi￿Oria Street. London. EC4V 4ET Clerk to thè Trustees Mrs A Nixon Wilson Memorial Homes Office 1 Brampton Communty Centre The lrthing Centre Union Lane Brampton CA8 18X

LSON MEMORIAL HOMES Contents Pa Trustees, Report Statement of Responsibilities Independent Examinerfs Report Income and Expenditure Account 10 Balan￿ Sheet Notes to the Financial Statements 12-16 Schedule of Investments 17

WILSON MEMORIAL HOMES (The Charity) Trustees. Annual Report The Trustees present their annual report and finanual statements for each 12-month period ending 31 May. This report is forthe period 1* June 2024 to 31 May 2025. The financial statements have been prepared in accordan￿ with the a¢￿Unting policies as set out in the notes to the financial statements and comply with The Charity's governing document, applicable law and the requirements of the Statement of Recommended Practice, Accounting and Reporting by Charrties. (SORP 2016) issued in January 2016, and more recent autumn 2019 - Charity SORP FRS 102, Upjate Bulletin 1 and 2. Structure, Governanca and Management The Charity is a Charitable Incorporated Organisation (CIO) which was estsblished on 4 July 2019 and is regulated by a constitution dated 5 December 2018 (the Constrtution). All of Ihe assets of the fomer Wilson Memorial Homes, Charity number 224967 were transferred to the Charity on 30 September 2019 which was the date when thè two Gharities merged. The Charity is govemed by a minimum of 3 and a maximum of 12 Trustees (the Trustees) and Clerk to the Trustees who meet at least four times a year. The Trustees or the Clerk visit all of the properties, which fom) part of V4fjlson Memorial Homes, on, at least, an annual basis. Many of the properties were visited by the Clerk, accompanied by either a member of staff. Contractor or Trustee during the year. Trustees he Trustees The Trustees who seried during the period we￿. Michael Bames Michael Dobson Maureen Granville Julie Gutteridge John Brian Hogg Hilary Holland Sally Nelson Peter Sedgwi¢k Iliam Wilson New Trustees are usually appointed by being recommended by an existing Trustee and fomially approved by a resolution passed at a properly convened meeting of the Trustees.

Public benefit The Trustees have reviewed the Charity Comfflission's guidance on the requirement to report on public benefit and are satisfied that the work of Ihe Charity provides tangible benefit to a wide section of people who live in or were bom in the Charity's areas of benefit. The criteria used to assess those who may benefft are not unreasonably restrictive. Objectives The Constitution sets OLrt the objects of the Charity which are °The provision and maintenance of alms-houses to people of not less than 50 years of age with a charitable need for housing, the majority of whom being on low incomes. and where preferen￿ is given to people who are bom in or are resident in the Parishes of Farlam, Brampton and Walton.. Activiti•s, maintenance and repairs The Charity has a policy of improving all properties to bring them up to a decent home standard and to keep contributions payable by the occupiers at an affordable level. Whenever a property becomes vacant the policy is, where necessary, to modemise the kitchen and bathroom and deal with any other defects, resources pemiitting. SFecific major works carried out during this period: Extemal Wndow and Door Re lacements A programme of works to repla￿ all UPVC extemal windows and doors at the Wilson Memorial Homes. properties continues. Phase 2 included eleven properties being completed in this period at The SarKls, Brampton. No. 6 Station Road Ends Mimon Bram ton - Refijrbishment This property has been fully refurbished with new insulated floors and walls, new High Heat Retention radiators installed, and wth new bathroom and kitchen fftbngs. This work was nearing completion at the year*nd. 2 Milton The chimney was re-buirt. Financial Review All residents pay a Weekly Maintenance Contribution Iiwc) which is below the fair rent set by the Valuation Office. The WC is ￿vieWed annually, and as a result a £4 increase was applied lo all homes effective from June 2024. This meant that. for example, the standard WMC for ￿0-bedrOOM properties in Brampton was increased from £93-£97. This ensures that signifiGant improvement works can be carried out and enables the Charity to provide adequate housing provision for future generations. Investment Policy The Trustees hold £44,200 in CCLA COIF funds of whith £9,499 is an Endowment Fund.

Reserv•s Policy The Trustees usually follow The Almshouse Association's recommended minimum amounts for transfer to the Extraordinary Repairs Fund {ERF} and the CyclieAI Maintenance Fund (CMF), both being designated funds. The Almshouse Association also recommends allocating an annual sum to Routine Maintenance but the Trustees do not consider it to be necessary to establish this additional fund at this time. It is also recognised that rt is ne￿$Sary to have SLrfficient funds in reserve to cover day to day expenditure especially in the event that there is a reduction in the WMC following the departure of residents and before new residents are appointed. A free reserve of £65,111.67 is thought lo be sufficient to cover day to day expenditure for approximately 3 months. The Charity has also transfe￿ed an additional £75.290 to cover some of the ERF expenditure for the following year.

The Alm¥hou¥e AA>Giation recommended amount to transfer to designated funds Over 20 yoars old per unit Extraorrlinary Repairs Fund Cyclical Maintenance Fund Recommended amount 2025 Properties 45 45 {£) per year £652 £1.066 £29,340 £47,970 £77.310 EXI￿rdinary Repairs Fund.. EIrÉrg￿￿l8$, mapr repai￿ of tKrflers. virnlo•VS and rcrtjf repairs. Cyclical Maintenance Fund" Planned rnaintena￿e. ￿furbIshmen on wancy, kitchen8, bathrc¥Jms & Int￿lOr decoration. The Trustees agreed to transfer £29,340 to the ERF (Extraordinary Repairs Fund), and an additional £75.290 to the ERF to fund fLrture contractual commttments. The recommended transfer to the CMF {Cydical maintenan￿ Fund) was reduced from £47.970 to £33,000 as agreed by the trustees, due to there being a sufficient amount within this fund. The trustees approved the above at a meeting on 21107125. Risk Factors The Trustees have examined the risks which the Charlty fa￿S and Gonfimi that intemal systems, policies and procedures have been established to enable the Charity to function effectively. The status of the Charity as a CIO mitigates the risk to individual trustees. Plans for the Future The recommendations made in the quinquennial report will be considered and, as finances allow, implemented over time. As a priority, consideration will be given to continue the work of replacing windows and extemal doors at all properties, and to upgrade the properties as they b8come empty. The Weekly Maintenano Contribution IWMC) is reviewed annually with the funds being reinvested into the housing stock to ensure that the Charity continues to provide adequate housing provision for future generations. All residents pay a WMC below the fair rent set by the Valuation Offi￿.

WILSON MEMORIAL HOMES Statement of Responsibilities The Trustees are responsible for preparing Ihe Trustees. Annual Report and the financial statements in accordan￿ with the applicable law and United Kingdom Accounting Standards (United Kingdom General A￿pIed Accounting prad1￿). The law applicable to ¢haTities in England and Wales requires The Trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of The Charity arKI of the incoming reSoUr￿S and application of resources of The Charity for that period. In preparing these financial statements. The Trustees are required to.. Select suitable accounting poliGies and then apply them ￿nsIstentIy- Observe the methods and principles in the Charities SORP" Make judgements and estimates that are reasonable and prudent., State whether applicable accounting standards have been followed, subject to any material departures being disclosed and explained in the financial statements., Prepare the financial statements on the going concem basis unless it is inappropriate to presume that The Charity will continue in operation. The Trustees are responsible for keeping adequate accounting records vthich disclose with accuracy the financial position of The Charity and enable them to ensure that the financial statements comply with Accounting and Reporting by Charities, (SORP 2016) issued in January 2016. (Charity SORP FRS 102, Update Bulletin 1 and Update Bulletin 2). They are also responsible for safeguarding the assets of The Charity and hence taking reasonable steps for the prevention and detection of fraud and other i￿egularitIes. The Trustees therefore ￿rtify that: In so far as we are aware there is no relevant audit infomation of which The Charity's independent examiner is unaware,- and We have taken all reasonable steps that we ougm to have taken to make ourselves aware of any relevant audit infomiation and to establish that the independent examiner is aware of that informats'on. On behaw of the Board of Trustees Chair.. Mrs Hilary Holland

ACCOUNTS OF THE WILSON MEMORIAL HOMES l June 2024 to 31 May 2025 Independent Examinevs report to Trustees of the Wilson Memorial Homes I report to the Tnjstees on my examination ofthe accounts of the Wlson Memorial Ho￿8 (Chanty Commission No.11842601 from 1 June 2024 to 31 May 2025. Respectlvo mponsibilities of the Trustees and th• Independent Examiner The Trustee5 of The Cha are res nsible for the aration of the ac in ccordance with the Accountin ndRe rtin b Chanties SORP 2016 . (Charty SORP FRS 102, Update Bulletin l and Update Bulletin 2). The Trustees consider that an audtt is not required for thi$ year under section 144 of the Charities Act 2011 I'the A¢VI and that an independent examinabon ts needed. It is my responsibilty to-. examine the accounts under section 144 of the Art follow the applicable Directions gwen by the Charity Commission (under 5ecb.on 14515}Ib) of the Act), and state whether particular matters have ￿me to my attents'on. Basis of Indgpendent Examinerfs Statement My examination was carried out in accordance wilh general Directions given by the Charity Commission. An examination includes a review of the accounting records kept by The Chanty and a Comparison of the account5 presented wsth those records. 11 also includes considerats'on of any unusual items or disclosures in the accounts and seeking expLgnations from The Trustees concerning any sueh matters. The procedures undertaken do not provide all the evidence that would be required in an audit and consequently no opinion is given as to whether the accounts present a 'lrue and fairf view and the report is limited lo those matters sel out in the statement below. Independent ExamIne￿S Statement In connection with my examinakn"on, no material matters have come lo my attention in connection with the examination gtving me cause lo believe that in any material respect.. accounting records were not kept in accordance wf(h section 130 of the ACL or the accounls did not accord with those records.. or the accounts d¢d not comply with the applicable requirements conceming the form and content of accounts set out in the Charitie5 {Accounts and Reports) Regulakn'ons 2008 other than any requirement that the accounts gwe a 'true and fair view which is not a matter cOnS￿ered a5 part of an independent examination. I have no concems and have come across no other matters in Connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached. Slgned: Date: 211ip124

WILSON MEMORIAL HOMES Statement of Financial Activities - Income and Expenditure Account 1 June 2024- 31 May 2025 Note5 Unrestricted fvnds Deggnated Designated Endowment nd5 Total ZOZ5 rotal 2024 h)tornlnB Rex¥W￿$ Grants InCOn￿n& Resources soo 216,299.08 216.79gJ 500.00 216.299.08 201.032.84 I16.799￿ 201AIIZ44 0.00 OA)0 0.00 oJ)o ojjo Opgratby Costs RunninÈcosts & Maint Gwnancecosts 3325930 40.157.37 73A16ts7" 67m5.02 24￿￿.{mI 0.00 67J)85112 I4￿ 124344.32 188.272.45 40,157.37 44,777.50 164501.69 233￿9.95 Oprath¥￿￿￿4 IDefidtl 338tAI 167JI85X121 124AWA>OI 5239739 132,017.111 greed PJmshouseTransfer 04reed Transfer Gains an inveslmentassets 13n4 162.340.001 175290.001 ojjo 29340.00 75290.00 33XXS.00 0.00 0.00 0.00 0.00 Surp1￿ (Defithlfor the ￿. 5.752AI 37W98 9mOJ)O 5229739 132.017.111 m0￿ment on Resenrns Fumd Balanrys 31 Mty 2024 SurplusllDeficitl for year 59359.26 5.752.41 28.755. 37.S44.98 56598.20 9KhJO.00 9.SOO. 154212.46 186229.57 5229739 132.017.111 Fund Ba￿$31 P•lty2025 65j11￿7 66299S8 6559820 9SOOm" los￿0945 1S4212A6 The Charity has not acquired or discontinued any fundamental activities during the abov& financial year, therefore. all of the activities are deemed as continuing. 10

WILSON MEMORIAL HOMES Balance Sheot as at 31 May 2025 Notes 2025 2024 Fixed Functional prokrties Imestments 44,200.00 44.201.00 44,200 00 41201.00 Current Ats Cash at Bank aThJ in ha Debtors 181.554.52 2,272.23 183.826.75 132,685 72 2,%9.71 135.655.43 Current Liabilitios Creditors Loans repayatAe wthin 12 monttr 10 (1,830.401 (2,625.CY)I (4.455.401 13,331.47} 12,625.00} 15.956.47) Net Currnnl 179,371.35 129.698.96 Long Tomi Liabilities Loans reFwable 11 117.062.50) 119,687.501 Total As¥gts L•95 Liabilities 206.509.85 154.212.46 Capital and Re*rves Capital Fund - Endrth￿ent FU￿15 Income Funds ignated Funds - ERF Designat￿1 Funds - CMF Unreslricled Funds 12 9,50).ts) 9,500.00 13 14 66,299.98 65.598 20 65,111 67 28,755.00 56,598 20 59,359.26 206.509.85 154.212.46 The financial statements were approved by The Trustees and were signed on behalf of The Cha b the Chair. Chair. Mrs Hilary Holland Date:

W]LSON MEMORIAL HOMES Notes to the Financial Statèments For the year ended 31 May 2025 LEGISLATIVE PROVISIONS The Charity is a Charitable Incorporated Organisation (CIO) which was established on 4 July 2019 and is regulated by the ConstitLrtion. ACCOUNTING POLICIES These accounts have been prepared in accordan￿ with applicable accounting standards. the Statement of Recommended Practi￿, Accounting and Reporting by Charities, Charity SORP FRS 102. Upjate Bulletin 1 & Update Bulletin 2, and the Charities Act 2016. Accountin Convention The accounts are prepared under the historic cost convention, modified to include the revaluation of investments in accordance with applicable accounting standards and recommended practice. Incomin Resour￿$ Contributions from the Residents are accounted for when receivable and are added to the Unrestricted Fund. Investment Income is accounted for on the receivable dates and added to th8 relevant furvj in which the investmerrt is held. ratin ts l expenditure has been recognised in the financial statements on an accruals basis. Functional Pro rties The functional properties are induded on the balance sheet at a nominal value of £1. The current insurance value of these properties is detailed at Note 7 of these statements. The properties within The Charity fomied part of the original Permanent Endowment of the Chartty and under the tems of the Charity Commission scheme dated 4th May 1984, they must be used as alms-houses. The properties are therefore considered to be inalienable. Therefore, the market value of the properties is reflected in the balance sheet at £1. Investments The quoted investments are valued at market value. where applicable. Gains and losses relating to investments are shown at Note 8. 12

INCOMING RESOURCES Unrestricted funds De￿gnated funds Total 2025 Totsl 2024 Corrtributions from residerts Interest Grants Donations. Ins. Claims. 212.403.13 3,895 95 212,403.13 3.895.95 500.C 197.874.00 3,058.84 100.1)0 201.032.84 216,799.06 216.799.OB OPERATING COSTS Unrestrld Designated Designated funds ERF funds CMF funds Total 2025 Total 2024 Operatlng Co Running Costs & Maintenarte 33.259.30 67.085.02 24.OCKI.CKI G¢xemance Costs 40,157.37 74416.67 67.08&02 240(KI.oo 124,344.32 188.272.45 40,157.37 44,777.50 164,fJ01.69 233,049.95 Running Co&s & Maintenance Generdl Repair & Maintenance 26.304.03 lrnproKements o.W 67.085.02 24.oco.crfJ Water Rates Council Tax Insurance NTVLRO Bank Charges AlMSh￿Se Subscription 26.304.03 36,504.20 91,085.02 144,948.22 0.00 0.00 6.159.40 6.159.40 1500 15.00 107.62 107.62 108.42 873.25 673.25 672.00 33.269.30 67.086.02 24,000.IXI 124.344.32 188.272.45 6.039.61 0.00 Govornance Costs Salaries & Costs Trustees AssU￿nCe Independent Examiner Office Expenses Legal & Professional Fees 33.316.98 33.316.98 33.971.21 380.80 380.80 250 C(1 3￿.00 5,975.59 5,392.69 234 00 4,732.80 250.00 5.975.59 234.CK) 40.157.37 40.157.37 44.777.50 13

1. TRUSTEES None of The Trustees received any remuneration during the period.
2. EMPLOYEES There V￿re employees during the period, the Clerk and an Administrative Assistant.
3. FUNCTIONAL PROPERTIES 2025 2024 Net BcKJk Value land Nominal value) at 31 May Insurance Value A. Land at Brampton having a frontage on to the road from Brampton to Alston together with the tsventy-seven cottages ewted thereon and known as Wlson Memorial Homes, 5,603.923 5,316,460 B. Land at Milton having a frontage on lo the road from Milton to Hallbankgale together wtth the six cottages erected thereon and known as Wlson Memorial Homes. 1,219,096 1.156.562 C. Land at Walton having a frontage on to the road from Wa￿On to Nickies Hill together with the six cottages erected thereon and known as 'Wlson Memorial Homes, 1,205,988 1.144,126 D. Land at Brampton {Ststion Road Endl having a fronta9e on to the road from Brampton to Milton tC¥Jether wth the six cotlages erected thereon and known as The Joseph Wlson Homes, 1,127,337 1,069,509 9.156.344 8,686,657
4. INVESTMENTS Endowment Investment funds funds 2025 2024 Market ValL Beginning of Feriodlyear Acquisitions at cost Change in ￿lue in periodlyear End of year 19,504.38 56,739.01 0.00 148.51 1.713.27 1,861.78 19.652.89 $8,452.28 78,105.17 78,243.39 69,850.02 0.00 6,393.37 76,243.39 Histori¢ Cost Beginning of period End ofperiod 9.499.IY) 34.701.00 44,200. 9,499.lJ) 34,701.1)J 44,200.0) 44,2C￿.o0 44,2tKi.00 14

DEBTORS 2025 2024 Weekly Maintenance Ccmtributions (WMC) 2,272.23 1272.23 2,￿9.71 2.969.71 10. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 2025 2024 Independent Examiner Retention Contractual Payments 300.00 1,CQO.00 2,031.47 3.331.47 1,530.40 1.830.40 ALMSHOUSE LOAN 2025 2024 Balance at 1 Jur Loan recei￿1 Arrangement fee Repayments 22,312.50 24.937.50 (2,625.001 19.687.SO (2,625.001 22.312.50 Llabllltles Repayable wrthin 12 n))nths Repayable after 12 mo*rths 2.626.00 17.062.50 2.625.00 19.687.50 12. ENDOWMENT FUNDS 2025 2024 Balance at 1 June m0￿Ment in fvThJs'. Prior pericij adjustment GainsllLosses) on AquistionslDtsp05als Commission recei￿{ BJance at 31 May 9.500.00 9,500.00 0.00 0.00 0.00 9.500.00 9.500.00 The Endowment Fund rep￿sents those assets which must be held permanently by the Charity. Income arising on the assets held in this fund can be used in accordance wtth the objectives of The Charity and is induded as unrestricted income. 15

1. EXTRAORDINARY REPAIRS FUND 2025 2024 Balance at 1 June Recommended AA trydnsfer Agreed additional ERF transfBr Less ERF Expendf(ure Balane• at 31 May 28,755.00 29,340.00 75,290.00 67.085.02 66.299.98 0.00 28.755.00 139,038 22 139,038.22 28.755.00 Extraordinary Repair Fund (ERF This is a designated reserve fund for future major repairs. Transfers are made to it from the Income and Expenditure Account in accordance V￿th the recommendations of The Almshouse Association. This year the Trustees a9reed to transfer an extra £75,290, (approved at a Trustee meeting 21107125).
2. CYCLICAL MAINTENANCE FUND 2025 2024 Balance at l Jur Transfer firsm Unrestrict&J Funds Less CMF Expenditure Balance at 31 May 56,598.20 33,000.CMJ 24.000 66,598.20 62,508.20 0.00 5,910.00 66.598.20 Cyclical Maintenance Fund {CMF) This is a designated reserve fund for Maintenan￿ occurring at regular intervals. Transfers a made to it from the Income and Expenditure Account in accordan￿ wtth the recommendations of The Almshouse Association. The Trustees accepted that they should only transfer £33,000 instead of £47,970, to keep a reasonable amount in unrestricted reserves.
3. ANALYSIS OF NET ASSETS BETWEEN FUNDS Unrestricted De99na￿d fiiw)d5 ErTrdowment fut)ds Total 2025 Totsl 2024 Fixed Awts Functional Prorrf stmerts COIF Fixéd Interest FLWhJ COIF In￿lment FurKI 17.350. 17.351.CO 34.701.C¢) 17.39J.rKJ 17.350.00 9.499.CfJ 26.8￿.￿ 28.850 rx) 9.￿.[K) 44.201.00 44.201.(K) Curront Aa•etsfLiabllltles Cash * bank LL)ans 49.￿.34 (19.e87.X)) 2.272.23 11,830.40) 6S,111.67 131,898.18 O.C<> 181.554.52 132.685.72 O 119.667.$01 122,312.501 2.272.23 2.￿9.71 (1.830.401 13.331.4n 9.500.LX) 206,$09.85" 154.21148 CreditorB N•t •a￿tatIo*￿1 fund 131.89&18 Unreaised 98ins irtluded t￿￿.. Net 98inslOosses) on ￿￿￿¥tILY Unrestricted funds comprise those funds vthich the Trustees are free to use in accordance with The Charity's objectives. Designated funds are the ERF and the CMF whose purpose is defined by the Trustees. 16

Ln