THE SPRINGErr ALMSHOUSES TRUST A CHARITABLE INCORPORATED ORGANISATION CHARITABLE REGISTRATION NO 1203952 FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025 THE SPRINGErr ALMSHOUSES TRUST A Charitable Incorporated Organi5ation (Charitable Registration No 1195134) TRUSTEES REPORT AND FINANCIAL STATEMENTS 31 DECEMBER 2025 INDEX PAGE REPORT OF THE TRUSTEES FOR THE YEAR TRusfEES' RESPONSIBIUTIES ATEMENT OF FINANCIAL ACTIVITIES BALANCE SHEEr NOTES FORMING PART OF THE FINANCIAL STATEMENTS &9 INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES 10 Registered Addres&. Springetts Almshouses Horns Road Hawkhurst Cranbrook TN184QZ The Springett Almshouses Trust A Charitable Incorporated Organisation (Charitable Registration No I195134- Registered in England & Wal￿) Report of the Trustees for the year ended 31 December 2025 The Trustees submit th￿r annual rep)rt and the finanoal statements of the Springett Almshouses Trust for the year ended 31 Decemkr 2025. The trustees have adopted the provision of Accounting and Reporting by Charities- Statement of RecoTnmended prattice applicable to charities preparing their accounts in accordance wth the Financial Rep)rting Standard applicable in the UK and Republic of I￿land (FRS102) (effective l January 2015). INCORPORATION AS A CHARITABLE INCORPORATED ORGANISATION A new Charttable Incorpordted Organisation, The Springetts Amshouses Trust was r￿S￿red on 12 July 2021. A resolution ￿as passed on 3 August 2021 that all the propercy and assets of the Eliza Springett5 Trust {Ch2ritable Rwstration No 242035) be transferred to the Springetts Almshouse5 Tru5L This transfer took Pla￿ on 26 May 2021 REFERENCE AND ADMINISTRATIVE DETAIL The Eliza Springett Trust I'the Trust") vrds a Charitable Trusc es¢ablished under a Deed of Foundation dated 25 September 1871 by Jesse Piper the Elder of Conghurst Hawkhurst Kent who gave to the charity the then existing four cotcages and land in Homs Road, HavAthur5t which still remain in the ownership of the charity and a cash sum of £1,170. Elizabeth Durrant and Hannah Durrant (siS￿rS of the lao Eliza Springett) gave the cash sum of £1,930 as a ￿ to the charity in memory of John Springet4 his wife Eliza Springett and thdr detea5ed daughter Martdret Hannah Sprin&Etc The endowment is repreSen￿d by the origrinal of Fand and four cowes (n¢)w converted into five flats) and an additional three at¢ached b￿n￿loW dwellings constructed out of capital funds together with any unexpended part of the (ash sums of £1,170 and £1.930 forming part of the Capital Fund. The Endowment is to be held in perpetuity and the income derived therefrom is to be applied towards the aims as noted below. STRUCTURE GOVERNANCE AND MANAGEMENT The Trustees who seThed during the yeor were.". A Poul- Choirmon Mrs M E T RECONCILIAYION OF FUNDS TOTAL FUNDS8ROUGHY FORWAHD 31.94 95Q149 9S&26) TOTALFUNDSCARRIED FORWAAD 731Y7 37.X 151.164 9W28z 95U148 The SprfngtttAknshousts Trust BALANCE SHE￿ AS AT JI DECEMBER 2025 2025 2024 FIXED ASSErs Freehdd prowty 8U585 839,ni Inyestmu 37,306 31,948 CURRENT ASSErs Debr¢rs F￿epayThert5 1,428 Bank ￿anCeS 19.404 48.523 19.033 14438 53J83 CambridRe & Uoyds InstantAcce5S 81,250 CURREKf LIABIUTIES (30691 mi 391 7&479 Neta55ets 946282 950,148 FUNDS Caytsf ￿nd. Re5ty1cred fvDd5 Unrexrtcted Funds Extraordlnary R*rs Cytfital m￿nteD3r￿e Fund Ger￿￿ hjnd 731947 37.306 153.164 731947 31.948 161390 Unre$thc￿d Funds 923.418 927,284 9K282 950.148 +lcyoved by the Tnstees Wed on theSr t£W Trustee The note5 page 6 to 9 form tArt ofthEse 5trtenvrts The Springett Almshouses Trurt A Charitable Incorporated Organisation Notes to the accounts for the year ended 31 December 2025 Statutory Information The Springett Almshouses Trust is a Charity. registered in England and Wales. The Charity's registered number and registered office address can be found on the front page. The presentation currency of the financAI statements is the Pound s￿rlIng (£). Accounting policies Basis of preparation of financial statements The financial statrments of the charity, which 15 a pU￿1C ￿nefit entity under FRS 102. have ieen prepared in accordan￿ with the Charities SORP (FRS 102} Accounting and Reporring by Charities.. Statemenc of Recommended Practice applicable to charities preparing their accounts in accordance wtth the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102} (effective l January 2015),. Financial Reporting Standard 102 The Financial Reporting Sf3ndard applioble in the UK and Republic of Ireland, and the Charities Att 201 l. These financial statsments have been prepared under the historical C05t convention, with the exception of investments which are included at market Y￿ue. Going Concern The Trustees consider that the Chartty has sufficient funds to meet any financial liabilities for the foreseeable future and that there are therefore no rrAterial uncertainties regarding going concern. As a result the accounts have been prepared on a going concern basis. Fund accounting General funds are unre5trrcted funds which are av3ilable for use at the discretion of the trusoes in furthernnce of the general objectives of the charity arKI which have not ken designated for other purp05e5. The Extraordinary Repairs Fund and Cycliol Maintenance Fund are designated fijnds for replacement expenditure. exceptional improvemerts or rrAintenance and routine periodic maintenan￿. Incoming resources Incoming resources are included in the SOFA when the Charity is legally entided to the income and it can be quantified with reasonable accuracy. Investment income is accounted for in the period tn which it relates. Income due at the year end is recognised as debt0￿. Resources expended All expenditure is accounted for on an accrua15 Ea51 Management and administs7ti0n costs are those incurred in connection the administration of the charity and compliance y￿th constitutional and statutory requirements. The Springett Almshouses Truse A Charitable Incorporated Organ(sation Notes to the accounts for the year ended 31 December 2025 continued Freehold property The original property ha5 no known fdlue. The new flats finished in 2022 and fitted out in 2023 were occupied in December 2023. Depreciation is charged at 2% on a stra￿dIne basis from when the assets re brought into use. Investments Investments are 5ratrd at market rtlue at the balan￿ sheet date. The SOFA includes the net gain5 and losses arising on reyaluations and disposals throughout the year. Freehold Property Freehold Properry Total Cost or valuation.. At l January 2025 Addiuons Disposals Transfer on completion At 31 December 2025 85&859 856,859 856,859 856,859 Depreciation.. At l January 2025 Charge for year Disposals At 31 December 2025 17.137 17,137 17.137 17.137 34.274 34,274 Net book vilue At 31 December 2025 822.585 822.585 At 31 Decemter 2024 839,n2 839.n2 The Springett Almshouses Trurt A Charitable Incorporated Organisation Notes to the accounts for the year ended 31 December 2025 Freehold Property continued The original cost of Springetts Amshouse5 is not ascertainable. HOv￿er. under current accounting policie5 the cost would have been fully depreciated many years ago, producing a net book valLTre of nil. During 2022 and 2023. the Trust finished building an exrension vthich includes three addiuonal flats with a common room for the use of all residents. a small kitchenette and wheelchair accessible toileL Tenants moved into them at the end of 2023. Capital Fund An examination of the accounting records and the rninutes of the Trustees Sin￿ the creation of the chariry have not revealed an auditable trail of the cash sums of £1,170 and £1.930 given to the Trust in 1871 and 18n. It is not known whether the conscruccion of the three bungalow dwellirkgs eXhau￿d the endowment funds represented by those osh sums. The (2Pital fund is represented by the accumulation of income arising on the investments held in resFect of the capital hjnd and any unexpended part of the original cash sums fomiing part of the original endowmenL Investments Cyclical Maintrnan (ERF) Fund Total Market valuation: At l January 2025 Additions 31.948 2,500 (212) 31,948 1500 1212) Disposals Reallocation Realised Gain 26 26 Unrealisd Gain At 31 December 2025 37.306 37.306 The Springett Almshouses Trurt A Charitable Incorporated Organisation Notes to the accounts for the year ended 31 December 2025 Investments continued During the year, a further £1500 ￿d5 invested in the untts in the Fidelity Funds Netr￿rk and £212 was realised on disposal of units viith a realised profit of £26 and an unreali5ed profic on market value of £3,044. At the year end, the investments held had a market Trrdlue of £31.948 {2024: £31.948) with a cost of £31,76212024: £29.432). At the year end the followng were held. 408.27 Baillie Gifford Managed Fund accumulation units. 2.331.00 Fidelity Cash Fund W accumulation units. 2,257.77 Liontrust Susrainable Future Managed Funds Class net accumulation units 1,642.94 Royal London Sustainable WoAd trust C accumulation units 24.79 Vanguard LIfeStrate￿ 60% Equity accumulauon units. 480.36 Waverton Multi Asset Growth P accumulation units. Related Party Transartions There have been no trnnsattions ￿￿th related Fw¢ies during the year. Trustee Remunerntion and Expenses None of the Twstres receNed any remuneration or expenses from the Charity. 10 The Springett Almshouses Trust A Charitable Incorporated Or8aiiisation Independent Examinerfs Report to the Trustees of The Springett Almshouses Trust We report on the accounts of the Trust for the year ended 31 DecemEer 2025, which are set out on pages I to9. Respective responsibilities of trustees and e￿Miner As the charity's trustees you are re5pon5ible for the preparation of the accounts. you consider that the udit requirement of section 144 of the Chariues Act 2011 (the Attl does not apply. It is my responsibility to examine the accounts (under settion 145 of the 2011 kn to follow procedures laid down in the General Directions given by the Charity Commissioners under section 145(5)(b) of the 201 l Act and to state whether particular matters have come to our attention. Basis of independent examinees report My examination ￿ds carried out in accordance with the General Direcrions given by the Charity Commissioners. An examination includes a re￿eW of the accounting records kept by the charity and a comparison of the accounts presented wth those records. It also includes consideration of any unusual itrms or disclosures in the accounts and seeking explanations from you a5 trustees concerning any such matters. The procedures undertaken do not provide all the ewdence that V￿uld be required in an audi[ and con5equendy we do not express an audit opinion on the view @ven by the accounts. Independent examinerfs statement In connecuon with my examination. no ma￿r has come to our attention". { l ) which give5 me reasonable cause to belwe that in any material respett the requirements to keep accounting records in accordance with secoon 130 of the Affj and to prepare accounts which accord with the accounung record5 and to compty the accounting requirements of the Act have not been me¢ or {2) to which. in my opinion, attention should be drav4m in order to enable a proper understanding of the accounts to be reached. D Boobbyer Mccabe Ford Williams Chartered Accountant Bank Chambers High Street Cranbrook Kent TN17 3EG