CHARITABLE INCORPORATED ORGANISATION REGISTERED CHARITY NUMBER.. 1188518 THE REThENOON ALMSHOUSE CAARITY FINANCIALSTATEMENTS FOR THE YEAR ENDED 30 JUNE 2025 THE RETTENDON ALMSHOUSE CHARITY CONTENTS OF THE FINANCIALSTATEMENT5 FOR THE YEAR ENDED 30JUNE 2025 Page Repart of theTrustees Independent Examlner's Report statement of Flnanclal Activities Balance Sheet Notes to the FinanciAI Statements 7 to 17 Detsiled Ststement of Flnanclal Actlviti&5 18 THE REThENDON ALMSHOUSE CHAR]TY REPORT OFTHE TRUSTEES FOR THE YEAR ENDED 30JUNE 2025 The Trustees present their report along wlth the fknandal statsments of the ch3rlty for the year ended 30 lune 2025. The trustees have adopted the provislons of the Statement ol Recommended Prattlte ISORPI "Accounting and Reporting by Charities in preparing the annual report and flnanclal Statements of the charlty. ThÈ fTnanclal statÈmÈnts have beÈn preparèd In accordante wlth the accounting PDliclps set out In nol@s to ihÈ account5 on page5 7 to 9 and comply with the charily's goveit5ing document, the Charitles Act 2011 and Accountlng and Reportlng by Charities.. Statement of Recommended Practice applicbble to charities preparlng their accounts in atcord3r*e with the Flnanclal Reptsrtlng Standard applicable the UK and Republlc of Ireland publlshed In Qcttyber 2019. 0S)EcfivES AND AcfiviTIES Oble£tives and aim5 ThÈ object of the ChÈrlty Is the provlslon of almshouses lorthÈ bÈnellt ol re51dents whose quallllcÈtlons shall be ptsor and 38p.d persons who, except in special cases to be approved by the Ch¥rily Commlssioners, aTe inhabitant5 of the Parish of Rettendon. Applicatlon Of Income The net Incotne sh211 be appliÈd first to ropttir, Insure and mÈet Èll othÈr outeolngs In respÈtt ol the Charity's PToperties and 411 proper costs of the Charity's adminLstTation and managernent. Thereafter net income shall be zpplied forthe beneflt of the almspeople of the Charity. Slgnlflcant actSvltlos The ChÈrlty ¢urrently provldÈs flve alm5hou>È properties and Its alm Is to ut1115È the5È Ès fÈr as posslE4e to meet the objectives of the Chavity. Publlc benellt These activltles are considered to be for the publlc beneFIt and in runnlng the Charity the Trustees have regard tor the a)arity Commission guidance on public bonefit ACHIEVEMENTS AND PERFORMANCE Charltable actlvltles Followlng the Quinquennial and EPC Inspectlons Tr￿st@￿S wÈre keen to Improvtr thÈ Insulation to the almshouses. Addltional loft Insulation was providEd to Èll properlles and new front doors were Attod whlth wÈrÈ draught free and had addltional Insulation. Trustees contirsued to eKplore solutlons for replacement hearlng systems to the almshou5e&. Trustees noted the resignations of Mr Mark Fleming and Mr Julian Hopes at the e￿d of the financial year. They were pleased to welcomÈ Mrjoe Parsad 2nd Mr Kelth M2rsh21 to joln the Trustee body. The frustee5 were pleased to purchase a bench In honour of the reltred Chairman, MT Ron Fallow5. The bench would be sited at the almshouse5 for the benefit ol all resident5. FINANCIAL REVIEW Flnanclal posltlon The Charlty's financlal p051tlon1s 8s set out the Balancè s￿@t on page 6 and is consldeied satlsfactorv. Reserve5 poll£y The Charlty's wlSty on ￿serveS Is to m?lfita5n suffi£lent reserves to enable the Charlty to ¢ontlnue to 8¢hleve Its principal object&ve5. THE RETTENDON ALMSHOVSE CHARITY REPORT OF THE TRiISTEES FOR THE YEAR ENDEO 30JVNE 2025 FUTURE PLANS Trustee5 continued to ¢onsider alternatlve electrlcal he3ting and hot water provislon to the alrnshause5. ThEy continued to build nialntenante funds for thls purp05e5. Trustees were pleased to note thÈlr malntÈn8nce funds would )IkJw a vAde range of solution5 to be considered. STRUCTURE, GOVERNANCE AND MANAGEMENT Go¥erDlng d￿￿ment The Charity Is governed In ètctrrdan¢e wlth a constitution dated 12 March 2020. Recrultment and appelntment of new Iru5tee5 As vècarKles for Trustees arise applications are sought from potential caDdidate5 known to the TrusteÈS and other Sultable local people. Applicants are then considered by the Trvstees and appolTrtmÈnts made by rÈsolutlon of the Trustee5. Or82nlsatlonal structure Day to day ?dmln15tratlon of the Charity Is ￿rrIed ¢ut by the Clerkwho report5 to theTrusteÈ> Induction and tralnlng of new trustee5 New Trustees are briefed by the Clerk and the Èxlsting Trustees on the hlstory 2nd actlvities of the Charity. They are provided wlth a copy of the Charity Commission publication'The Essentlal Trustee" dèt8illng their responsibilities and piovSdlng 8uidancÈ on being a Trustee. New Trustees are PTovlded with 4 copy of the Ch3rity Scheme and the latest accounts Related partle5 There are no other charities related to the Rettendon Almshouse Charlty. The Clerk to the Charily Is èls0 Clerk to other almshouse charities. Rlsk managempnt The trustees have a duty to identify and revlew the risks to whlch the charlty 15 exposed and to ensure approprlate controls are In place to provide reasonable assurance agalnst fraud and error. Through the employment of professlonal advisors the Trustees seek to ensure that all of the Chèrfty's management and deci51on making processes take lull account Of, and comply with, relevant legislation and regulatory controls. Insurznce including property ownership and publir Ilabillty is reassessed annually. REFERENCE AND ADMINISTRATIVE DETAILS Regi5teYed Charlty number 1188518 Prlnclpal addre5$ clo Clare HeyÈs 18 Newt¥ldge Hill W￿t Bergholt Colthe5tei Essex C06 3ER THE RE￿EN￿ON ALMSHOUSE CHARITY REPORT OFTHE TRUSTEES FOR THE YEAR ENDED 30JUNE 2025 Trustees Mr5 P Smlth r5 K Munday M Fleming (resigned 20151251 Dr S Alexande¥ J Hopes (resigned 20151251 M5 S Player J Parsad (appointed 511ty241 K Marshall lappolnted 41111251 IndepeNlent Examlner Simon Welllng Certified Accountant TC Group Accountsnts rown Wall House Balkerne Hill Colchester Essex C03 3AD Clerk to the Charlty Mrs C Heye5 18 Newbrldge Hlll West Bergholt Colchester Essex C06 3ER Approved b der e board of trustees on............... and slgned on Its behalf by.. $8d- Tru INDEPENDENfEXAMINER'S REPORTTOTHE TRUSTEES OF THE REThENDON ALMSHOUSE CHARITY Independent examinerfs report to the trustees of The Rettendon Almshouse tharlty I report to the Charity trustees on my examinètlon ol the accounts ol The Rettendon Almshouse charity (the Trust) lor the year ended 30 June 2025. Respons￿lI1t1e5 and basls ol rÈport the ch3rity trustees of the Trust you ale re5pon5ible lor the prepa¥ation of the a¢counts in 3ccordance with the requlrements of the Charities Act 20111.the Act'l. I report In re5PQrt of my examination of the Trust's a¢counts car¥ied out under Secrion 145 of the Act and Sn carrylng out my eKaminètion I h4ve followed all applicable Directions glvÈn by the Ch8rty CommissSon under Section 14515llbl ol the A¢t Independent examiner's statement have completed rAy examin3tion. I confirrn tkwt rK) mater181 matters have come to my attentiDll in connectlon with the examlnation 8ivinE me cause to believe that in iny materlal respect.. èccountlng records were r¥ot kept in rÈspÈct of the Trust as requlred by Section 130 of the Act,, or the accounts dD IlOt2ccord with those recads; or the accounts do not ¢omply with the 8pplicable requirements concerning the form a•d content of accounts set out in the Charities IAccDunts and RÈportsl ReEulations 2008 other than any requiremerbt that the accounts glve i true and fair view whlth is not a matter considered hs part of an IndepenLrfent examI[￿tIOn. I have no concerns and have come across no other matters in cviinection wlth the examination to which attention should be drawn in thls report in order to enable a proper ￿nderstandIng of the account5 to be reached. Simon Welling CÈrtified Account&nt TC Group Accountants Town W311 House Colchester Essex C03 3AD Date.. THE RE￿ENDON ALMSHOUSE CHARirY STATEMENT OF FINANCIALACTIVIIIES FOR THE YEAH ENDED 30JUN£ 2025 2025 Total funds 2024 Total funds Unrestrltted funds Restrlcte5al of an Investment the dlllerence between orlginal cost and dlsposal proceeds is reflecled in the accounts as a reallsed gaill or l(>5S and an adjustment Is made to unrealisÈd gains or1055e5 to reversp unrealised [nov￿entS In v31ue In earlier vears. Debtors Contribution other debtors are recognl$ed at the 5ettlÈment amount due. pre￿yMentS are valued at the amount prEpaid net of any trade dlstounts due, THE REThENDON AIMSHOUSE CHARITY NOTESTO THE FINANCIAL STATEMENTS. r¢)ntinued FOR THE YEAR ENDED 30 JUNE 2025 ACCOUNTING POLIOES- contÈnued Cash at Bank C8sh at bank and cash In hand Includes c4sh and short term hlghly Ilquld investments wlth a short maturity of three months or less from the date of acquisition ur opening of the deposlt or Similar account. Creditor5 Ènd Provl$tons Croditors and provlsions are recogn1sÈd wheré the Charity has a present obllgdtlon resultlng from a past event thet wlll probably result In the transfer of fuTrds tts a thtrd party ard the amouRt due to settle the obllgatlon can be measured or estimated reliab￿. Qeditors and provSslons are nomially recognlsed at thelr settlement amount ofter allowing for trade discounts due. Taxatlon The thirity Is exempt from tax on Its charltaEAe attivlties. INVESTMENT INCOME 20ZS 2024 Charlfund Incorne shares dI￿dendS receivable COIF in¢om@ share5 div1dend recelvable Accumulated shares dlvidend5 roceivaNe COIF Dp.poslt Account Interest 638 940 5,575 3,762 609 919 4,931 730 10,915 7,189 For year ending 30 lune 2025 accumulation share dividends have been a£counted for as Investment additions and Investment income, The cornparative amounts for the year ended 30 JvnÈ 2024 have been recla5511ied to reflect thè èccumulalion sharÈ dividp.nd$ Ès Incomp. For the year endÈd 30 June 2024 the total investment income ha5 IntrÈased from £2,257 to E7.189 with the net galns on inve5tment5 ieduclng from £17.654 to £12,722, reflecting the total accumulation share dividends received of £4,932. INCOME FROM C+IARITABLE ACTIVITIE5 2025 2024 Almshouse ¥tivity Contributions receivable 40,384 37,557 THE flE￿ENDoN ALMSHOUSE CHARITY NOTESTO THE FINANCIAL STATEMENTS. contlnued FOR THE YEAR ENDED 30 JUNE 2025 CHARITABLE ACTIVITIES COST5 Direct Costs (see nate 61 Support costs (see note 71 Totals Almshouse activity 20,795 5,842 26,637 DIRECT COSTS OF CHARITABLE ACTIVITIES 2025 2024 Watercharges Insurance Electricitv Repalrs and m3lntenance Extraordlnary repalrs Gardenlng Sundry expenses 91 971 471 5,568 IL905 1,741 48 92 1,112 715 865 i.ioo SD 20,795 3,934 SUPPORT COSTS Go¥eman C95ts M8naÉetment Totals Almshouse activity 4,204 1,638 5,842 Support costs. Induded in the above, are as follows.. 2025 Almshouse 2024 Almshouse Clerk's fees and expenses Subscriptions Independent ex8minalion fees Accountancy feE5 Leg313nd profe55ional fee5 3,933 271 290 1,348 3,500 134 283 1,307 2,007 5,842 7,231 -jo- THE REThENDON ALMSHOUSE CHARITY NOTES TO THE FINANCIAL STATÉMENTS. contlnued FOR THE YEAR ENDED 30JUNE 2025 TRUSTEES. REMUNERATION AND BENEFITS There were no trustee5' rEM￿neration or other benellts for the ypar ended 30 June 2025 nor for the year ended 30June 2024, Tnistees. expenses There were tnjstees, expenses paid for the year ended 30June 2025 nor for the year ended 30June 2024. COMPARATIVES FOR THE 5fAYEMENT OF FINANCIAL AcfMTIES Unrestricted lunds Restricted funds Endowment funds Total funds INCOME AND ENDOWMENTS FROM Charltable 4¢tivitle5 Almshouse activSty 37,557 37,557 Investment income 7,189 7.189 Total 44,746 44,746 EXPENDfTURE ON Charitable actlvities Almshouse actlvity 11,165 11,165 33,581 33,581 Net 8ains an Investments 10,142 2,580 12,722 INCOME 43,723 2,580 46,303 Other recognlsed gainslllossesl Gains on revèluatlon of fixed assets 24.497 24,497 Net movement In fund5 68,220 2,580 70.8(KI RECONCILIATION OF FUNDS Ttstal funds broyght forward 1,222,S98 194.660 171,617 1.589,175 YorAL FUNDS CARRIEO FORWARD 1,291,118 194,660 174,197 1,659,975 -li- THE REftENDON ALMSHOUSE CHARITY NOTES TO THE FINANCIAL STATEMENTS- conllnued FOR THE YEAR ENDED 30JUNE 2025 io. TANGIBLE FIXED ASSETS Housing propertles cosr OR VALUATION At l July 2024 Revaluations 1,389,335 41,728 At 30 June 2025 1,431,063 NET BOOK VALUE At 30June 2025 1,431,063 At 30June 2024 1,389.335 The TrustÈes revalued the buildings during the pertod @nded 30 June 2025 at £1,291,063 being thelr Insurance reln5tatement value at that date. The value ef the land rÈm2lns at £140,000, Ctsst or valuatlon at 30June 2025 Is represented by.. Houslng propertles Accumulated revaluatlon gains Cost 1,059,693 371,Y70 1,431,063 ii. FIXED ASSET INVESTMENTS Listed investmp.nts MARKETVALUE At I july 2024 Addltions Revaluttlons 183,177 5,574 3,J51 At 30 JLsne 2025 191,902 NET BOOK VALUE At 30 June 2025 191,902 t 30 June 2024 183,177 There We￿ no Investment assets outslde the UK. -12- RETTENDON ALMSHOUSE CHARITY NOTES TO THE FINANCIALSTATEMENTS- contlnued FOR THE YEAR ENDED 30JUNE 2025 ii. FIXEtJ ASSET INVESTMENTS. contlnued Cost or valuatlon at 30 June 2025 Is represented by.. Llsted Investmenls Accumulèted revaluatlon gains Cost 95,349 96,553 191.9D2 12. DEBTOR5.. AMOVNTS FAILING DUE WITHIN ONE YEAR 202S 2024 Contrlbutlon arrears Prepayments 3nd accrued income 267 1,443 1,422 1,425 1.710 13. CREDITORS: AMQUNfs FALLING DVE WITHIN ONE YEAR 2025 2024 Corytribution in adv3nCÈ Accruals and deferred Iniotne 913 1,983 951 3.920 1896 4,871 -13- THE IEErrENDThN ALMSHOUSE CHA%rrY NOTES TO THE FINANCIAI STATEMENTS. contlnued FOR THE ¥EAR ENDED 30JUNE 2025 14. MOVEMENT IN FUNDS Net movement in fvnd5 Transfef5 between fuRds At 30.6,25 At 1.7.24 Unrestrfrted fund5 ncome Account HDusing Property Reserve HousiDE Property Rev4luatlon Reserve Cy£lic41 Maintenance Rpserve Extraordlnary Repair Reserve 8Y,510 76,YlO 977,965 70,980 75,953 33,441 112,0001 110,951 76,710 1,019,693 80,672 74,192 41,728 3,692 17,7611 6,000 6,000 1,291,118 71,100 1,362,218 AestrlctÈd fund5 Social Housing Grant Fund National Associatlon of Alm5hou5es Grant Fund 173,660 173,660 21,QOO 21,QLKI 194,660 19A,660 Endowmeni funds PÉfmaneiit Endowment Fund Permanent Endowment Fund Revalualon Reserve 134,197 11,5591 132,636 40,000 40,000 174,197 172,638 TOTAL FUNDS 1,659,975 69,541 1,729,516 Net movement In funds, includÈd in the zbove are as follows.. Incoming resources Resources expended Galns and losse5 Movement In fund5 Unrestricted funds Incomp. Account Houslng Property Rovaluation Reserve Cycllcal Malntenance RÈserve Extraordlnary Repair ResÈrve 47,105 114,7321 1,06B 41,728 1,834 1,808 23,441 41,728 3,692 17.7611 1.858 336 111,9051 51,299 126,6371 46,438 71,100 Endowment Perm8nent Endowment Fund 11,5591 11,5591 TOTAL FUND5 51,299 126,6371 4,879 69,541 -14- THE RE￿ENDoN ALMSHOUSE CHARrrY NOTESYO THE FINANCIALSTATEMENYS- continued FOR THE YEAR ENDED 30JUNE 2025 MOVEMENT IN FUNDS- contlnued Comparatlves foT movement In fund5 Net movement in fund5 Transfers betwe@n fund5 At 30.6.24 At 1.7.23 Unrestrlcied fuTtds Income Aciount Hou£inE Property RÈsÈrve HDuslne Property Revaluation Reserve Cycllcal Malntenance Reserve EKtraordln3ry Repalr Reserve 68.343 76,710 953,468 60,411 63,966 32,187 111,0201 89,510 76,710 977,965 70,98 75,953 24,497 5,549 5,987 5,020 6,000 1,222,898 68,220 1,291,118 Restritted funds Social Housing Grant Fund National As50Clation of Almshouses Grant Fund 173,660 173,660 21,0(X) 21,000 194,660 194,660 Endowment funds Permanent endowtnent Fund Perrndnent Endowment Fund Revaluatlon Reserve 13l617 2,580 134,197 40,( 40,th0 171,617 2.580 174,197 TOTAL FUNDS 1,589,175 70,800 1,659,975 COmpara￿ve net movernent In funds, induded In the above are as follows.. Incoming resource5 Resource5 Èxpended Gains and Ios5e5 Movernent in funds Unrestrlrted funds Income Account HoU￿ng PropÈrty Revalu3tlon Reserve Cycllc31 Maintenance Reserve Extraordlnary Repair Reserve 41,035 111,1651 2,317 24,497 3,904 3.921 32,187 24,497 5,549 5,987 1,645 44,746 111,1651 34,639 68,220 Endowment funds Peirnanent Endowment Fund 2,580 2,580 TOTAI FUND5 44,746 111,165 37,219 70,800 -1s- THE RErrENDON ALMSHOUSE CHARITY NQTESTO THE FINANCIAL STATEMENTS. continued FOR THE YEAR ENOED 30JUNE 2025 MOVEMENT IN FUNDS-contlnued ReseNÈs Income AccouTkt The Fund rÈpresent5 accumulated surpluses of the Charlty and Is avallable for the general purposes of the Charity. Houslng Property Reserve This Reserve represents the Cost of the Charity's housing propÈrties, excluding the Ch8rlty's land. Cha*)ges in the net book value excluding the surplL¢S on revaluation of the housing properties are reflected in Ihe Hou￿n8 Property Reserve by a transfer from or to the Incorne Account of an amount equal to the cha#8e In the accounting perlod. Housing Property Revaluatlon Reserve This reserve represents the surplus on revaluation ol thE Charity's Housing propertles. Cytllcal Maintenance Reserve The Cyclital M3inten3nce Reserve is unrestrlcted but designated by the Trustees lor future re£urriTrg maintenancè as necessary at the CharSty's propertle5. A transfer Is made from the Income Account each year to the Cycllcal MaintenancE Reserve to cover cyclicHI repairs as they arise. The annual transfer Is in£luslve of income attributable to invested Mnds. Extroordlnary Repair Reserve Thp ExtrÈordinary Repilr Roserve 15 uniestrScted but designated by thÈ Trustees for futurÈ major repairs and improvemo#ts to the Ch3rlty's pruperties. A transfer 15 Indde from the Income Account each year tD the ExtrèordinaTV RÈp8ir Reserve tD lover extraordinary repalrs as they ar15e. The annual transfer is Incluslve of Income altributable to invested fund5. Social Houslng Grant Fund The.4ocial Ilousing Grant FUhd15 a rÈstrlcted fund and reprEsents the grant re￿IVed Df £173.600 durSn8 the year ended 18 oC￿ber 1992 in connection wlth the housing property imprtsvements less the proportlon ol depreciation charEed each year relating tD this furiding. Natlonal Assoelatlon of Almshou￿5 Grant Fund Ylie Nation41 Association of Altn5hou5e5 Grant Fund Is 4 r@strlcted fund and represents the grant rÈctrived of E21,OOQ during the year ended 18 October 1992 In connectlon wlth the housing propÈriy Improvements. Permanent Endowment This15 rÈpresented by the Charlly's18nd, a5 V31ued by the frUSte￿ in 1990 ￿ttsre redevelopment commenced together with the permanent endowment investments. Permanent EDdDwment Revaluatlon Reserve Thls reserve repre5Ènrs the surplus on ￿ValuatIOn of the Charity'5 land. -16- THE REThENDON ALMSHOUSE CHARITY NOTES TO THE FINANCIAL STATEMENTS. contlnued FOR THE YEAR ENDED 30JUNE 2025 15. RELATED PARTY DISCLOSURE5 ThÈre were no related party transaction5forthe year ended 30 lune 2025. -17- THE RETTENOON AUWSHOUSE CHARITY DETAILED ¥fATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 30JUNE 2025 2025 2024 INCOME AND ENDOWMENTS Investment Intome Charifund Income shares dividends reTrlvable COIF In£ome shares dividend rÈceivable Accumu12red shares (fividend5 receivable COIF Deposit Account Interest 638 940 5,575 3,762 609 919 4,931 730 10,915 7,189 Charitable artlvltles Contributions receivable 40,384 37,557 Total tnwrnlng resources 51,299 44,746 EXPENDITURE ChaTltablÈ attlvkles Water charges Insurance 91 971 471 s￿68 11.905 1,741 48 92 1,112 715 865 Repair5 and malntenance Extraordinary Tep3i15 G3rdÈnin8 Sundry expen5e5 I,ioo so 20,795 3,934 Support Costs Man8gement Clefk's fees and expenses Sub%rlptions 3,933 271 3,500 134 4,204 3.634 Goveman£e tDSts Independent examlnatlon fees Accountancy fee5 Legal 3nd professional fee5 290 1,34B 283 1,307 2,W7 1,638 3,597 Total resources expendÈd 26,637 11,165 Net income 24,562 33,581 Th15 page does not form part of the statutory Ilnanclal statements -18-