Charity Regi5tratlOD No.. 1195199
Regulxttsr of Sotlal Houslng No.. 5154
WEST HACKNEY ALMSHOUSE CHARITY
REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

WEST HACKNEY ALMSHOUSE CHARITY
LEGAL AND ADMINJsfRATIVE INFORIKATION
Coycrttillg lllstrvmtllt
Charitable Incoryoiated Orwiisalion 'Foundalion'
constitution
model
Trustee5
M5 A Cru]np (appointed interim Chair 13.05.24)
The Reverend N Wcir (resigned Chair 13.05.241
Mr B Innis
Mr J Majll
Ms M Beaven
Mr T Murphy
s C Kakai
M5 F. Davis
Mr Justin Gall (appointed September 2024)
Clerk to the Truste&s
The TrustPartnershsP
ChY4rity registered number
1195199
Regulator of SociAI Hou5iDg Agency No
5154
Reglstèred 9ddres5
46 St James's fjardens
London
WII 4RQ
Mwhaging agent
HvThisuD Housin
46 St James's Garden5
London
W114RQ
IndependEILt ExAminer
Chartered Aceout]tants
MHA House
Charter Court
Swan8ea Enterprise Park
Swansea
SA7 9FS
BAllkeTS
CAII Bank Ltd
25 Kings Ilill Avenue
Kings Hill
West Mallin
Ktnt
ME19 4JQ

WEST HACKNEY ALMSHOUSE CHARITY
TRUSTEES ANNUAL REPORT VOR THE YEAR ENDED 31 DECEMBER 2024
Hi5tOry% objectives gnd activities of the charity
The on￿n￿l West Hackney Altnshous¢ Charity w&% on urrincorporated charity constituted under a trust deed dat
19 Nov¢mbeT 1963. The activities, assets, Enveslm¢nts atld endowJn¢nt uf the Lharily were transferred io a ChaTitablc
IncoTPDrated Organisation (CIO) by the same naTne. on 31 Dccembcr 2021. The CIO now Garrie$ on the operations
formerly carricd out by Ihc unincorporated charity (charity nutnber 214088).
The Charily's main obj¢cliv¢ and pwpos¢ is the upkeep of the Aimshou5e prernise4 namely W¢st Hackney House.
IS Northwold Koad, Lmdon, N16 for persons who arc in nee(L hardship i)r distr&8s who have r¢5ided in the area of
West Hackney for not Ic8s than 5 ye)rs, if ther¢ is no suitable applicant from West Ha¢kney the area of benefit 15
extended to the Lundon Borough of Hackney for persons who have kEti resident itt the Borough for not le55 than 5
years.
Structure, Govorllonce alld MallagemeDt
Th¢ trustee% who have served during the year are sd DUt on the Icgal and administrative information on pagc l ofthis
report.
The chaIm￿n and the clerk of the trustees are responsible for the indudion of any new truslees, which involve5
awareness of a trllstce's re5pon5ibiliti&s, thc gov¢mirtg docllment, administrativc pr<Kedur¢s, the liisiory and
philo.sophical approach of the c.harity. All trustees provide thcir scrvice5 as trustees free of charge.
The trustees regularly review the risks ih8t the charity faces. To date these have mainly related to the management
of the Almshouse a resid¢nce for individuals. The trustees take advice from rclevat)t professionals i# the
manag¢mentof the property and the residents. In looking to the future, the tTUYtee5 will continue to monitor the rssks
8sgoLiated with manawngy a residential propety.
Th¢ day-to-day operations of the Almshouse have been sub-contracted io Harrison Housing who are also an
A]mshous¢ with chariiabl¢ status.
Almshouse policy
The tTusiets ¢oniinll¢ to follow the recoTnMendations of the Almshouse A5sociatÈon, 50 far as they are sble. Thc
trustees zctively seek to maintain full occupancy of the Alin5house by idcntifying pot¢nlial future ￿￿1dCnl8 as soon
a5 practicable when it bEcoTne$ apparent that one of the flats will become vacant. The welfare of the r¢bid¢n15 is th¢
subject of a rcport at cycry Trustee meeting.
To qualify as a bencficiary of the Almsho￿%¢ Bppli¢anl$ must be eithcT poor women residents in ihe &re8 of benefit,
husbands of womcn appointcd to reside with them 8nd, if on the occurrence vf a va¢gncy th¢re is no applicant a5
afoTesaid, the vacancy may k fjlled by a PlK)r mart.
ACtI￿*te5, AchievemeD15 attd ptrformanee of tILe Charity
The charity provides 9 flats forpeoplt who fall within its. drea ofbenefit. TheTTusl¢es' pTimary objecltve is to provide
desirable accommodation of a good standard that enables benefJoiatie5 to live thtir livcs to the full.
The occupancy rat¢ ovcr thc last 12 months ¢ontinued to be IOOty/o with no void ￿l0￿$(2023. IOOO/ol. The Th5te&s
believe that the #¢¢ommodalion on offer continues to be highly deS￿&ble to applicants a5 well a5 to ¢xi$ting
bEnetlLLdri¢S.

ST HACKNEY ALMSHOUSE CIIARII'Y
TRUSTEES ANPIUAL REPORT FOR THE YEAR ENDED 31 DECEMBER 2024 (continued)
Flnxntlal revlew
Thc result for the year endcd 31 DcccmEer 2024 wa5 a surplus of £10.5k12023.. £28.Ik). The rewtcd surplus is
after charging unr¢alised gains on investhients of £l1.4k12023'. £6k).
Expeiiditure on charltable activitses increased by 4410 to £99.6k {2023.. £69k). There wcre cyclical works of £24.475
included, which explains m05t of thc increase however inflationary incrc&8cs on many services have also occurred.
De5PLte this. Ihe charity has made a sutplus, lh¢ I￿y￿aT businebs platl shows financial viability.
Value for Money
The Regulator of Sobial Hvusirtg requires all Housing Asso¢i&tions to follow 8 standard set of calculations it fBfe
to as the 'Value for Money st￿da￿d.. The slandard uses the Re8ulalor's OWTL metrics (lefinilions to provide
COElSSStency acr05S the Sector. Thcse rrL¢tri¢s can move 5i8nifi¢antly frojn year to year in small organisations 85 on
off costs skew r&qults.
2024
0.0￿/.
O.OOYo
NIA
2023
0.0￿/
0.0￿/
NIA
NIA
NIA
£3,088
£2,246
13.16Y.
13.46/
23.910h 27.67V/o
3.03%
2.88%
MetTiC I
Reirtvestment
Metric 2
New supply d¢liv¢red
Meli'ic 3
Gearing
Metric 4
EBITDA MIU {EBrrDA Major Repairs Illcluded) Interest coyer O
Metric 5
Hcadlinc Soctal Hr)usin8 ca8ts per Unit
Metric 6a Operalinki Margin (Social leiiings)
Metric 6b Operating Margin (Overall)
Metric 7
ROCE D/0
Metric l Re-inv¢stm¢nt.' Thi$ metric I￿k8 et the investment in propcrtics (existing stock as well as New Supply)
as a percent2ge of the value of total properties held. For the ch￿ilY with its limited resources the foLiIS 18 on
rndintaining ils existing pTopertiE5 into the tillu￿.
Metric 2 - New Supply Delivered-. The Charity'5 focus 15 on maintaining its cxi5ting properties into the fvture and
c￿￿entlY does not hav¢ the financial capa¢iiy lo develop n¢w prO￿rtieS.
M¢tri¢ 3 - G￿rIng.. The Cliarity has no loans or overdraft facilitics.
Mctric 4- LBI-I'I)A.. Tlie Charity ha5 no loaii% or overdraft fa¢iliti¢s 8nd, therefore, no intcrest payable.
Metric 5- HeadliTL¢ So¢iAI l.lousing C.Dslq rEr wiit.. The increase in thc cost per unit for 2024 is due to an increase in
routine repairs seen in the year.
Metric 6 - Operaling M&￿in.. Thi8 metric demon8tralcs thc profitability of operatin8 assets before exceptional
expenses are taken into account.
Metric 7 Return on Capity41 Employed: This merric cojnpares the oper2ting su￿luS to total assets le55 CUTreIit
li21bilitie5 and 15 a ¢ommon measure in the commerLial sector used to assess the efficitiicy of inve5trtLent5.
Reserves policy
D¢sign8ted reserves Are maitjtained based on guidancc issued by the Almshouse Association for exp￿lture on
cyclical maintenance and extraordinwy Tcpairs of thr Ch4rity's property.
Trustees regularly revicwed the reserves puli¢y eonsider it prudent to keep suffiLienl reserves, not invested i
tangible a55et5, endowtn¢nt or desiunaled rcserves, to enable the payment of recurring running cos15 for a pei'iod of
12 month%. This cquatcs to approxirnately £30,000~£60,000, to cover unfor&%een emergencies Such as a loss of
income. Based on the budget set for 2025, the Charity has sufficient free re5erve8 to meel this requIr￿ne[LI.
A full stock condition 5urv¢y wa5 ¢arried oui in 2024 and this information has informed thc cyclical repairs plan as
outline in ihe 10-year bL%iness plan. Thi5 thcll Lnforn￿ thc Icvcl of re8ervc5 are likely to bE rquit¢d in the fuiur
which inform there8ervesp0llcyapprovedbyTT￿1Cc$. A tra￿ferof£20k from thegeneral reserves lothe desi8nated

## **WEST HACKNEY ALMSHOUSE CHARITY** 

reserves (2023: £5k) has been approved to ensure there are sufficient designated reserves to meet the requirement of future cyclical expenditure. 

## **TRUSTEES ANNUAL REPORT FOR THE YEAR ENDED 31 DECEMBER 2024 (continued)** 

At 31 December 2024 the balance held on Designated Funds was £30,525 (2023: £35,000), held on the General Fund was £220,387 (2023: £202,030) and held on the Endowment Fund was £527,318 (2023: £530.653). Full details of movements on the funds can be found in note 12 to the Accounts, on page 13. 

## **Investment policy** 

The cautious investment policy set in a previous period continues to operate and carries a moderate risk. Charity's investment funds are invested in accumulation shares held in the M&G Charity Multi Asset Fund with all dividends being automatically reinvested into the fund. 

## **Future plans** 

A **full** stock condition survey has been unde1iaken and this has informed the long-term plan of maintenance works which is reflected in the approved reserves policy. In 2025 £1 lk is required for cyclical works while a surplus of £22,867 is budgeted. 

## **Public benefit** 

The Trustees have considered the Charity Commission's guidance on public benefit and consider that the activities of the Charity meet its charitable objects and provide a benefit to the public. The primary activity undertaken by the Charity is the provision of accommodation to persons of limited means at a cost which is less than they might have to pay in the private rental sector. 

## **Trustees' responsibilities statement** 

The trustees are responsible for preparing the Trustees' Annual Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). 

The law applicable to charities in England & 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 and of the incoming resources and application of resources of the charity for that period. 

In preparing these financial statements, the trustees are required to: 

- select suitable accounting policies and then apply them consistently. 

- observe the methods and principles in the Charities Statement Of Recommended Practice (SORP) 2019 (FRS 102); 

- make judgements and estimates that are reasonable and prudent; 

- state whether applicable UK accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements; and 

- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the association will continue in operation. 

The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charity and enable it to ensure that the financial statements comply with the Charities Act 2011, The Charity (Accounts and Reports) Regulations 2008 and the provision of the constitution. It has general responsibility for taking reasonable steps to safeguard the assets of the association and to prevent and detect fraud and other irregularities. 

Approved by the Board of Trustees and signed on its behalf 

Andre Crump Chair 





WFST HACKNEY ALMSHOUSE CHARITY
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTV.V,S OF WEST HACKNEY ALMSHOUSE
CHARITY
Independe￿t ExamiDer's RepoTI to tILe Trustee8 Otwest Haekney Almshouse Charlty
I report to the tN$t¢e$ on my examination of th¢ HC¢OUI)1s of ihe Abovc charity for the year 31 DeceM￿r 2024 which
are set out in pages 6 to 14.
Responsibilities aDd basis of report
As the charity's trustee& you are T&%ponsible for the prep4rntion of the accounts in accordance with th¢ r¢quircmeol$
of the Charities Act 2011 ("the Acl").
I report in res￿1 of Thy examination ofthe Tru*'s aBcoun15 Co￿1td oul under 5¢ftion 145 of the 2011 Act and in
carrying out my examinauon, I hav¢ followed all th¢ appli¢#bie Dirt￿lOn$ given by the Charity Comrnis5Lon under
seLtÉon 145(51(b) of the Act.
lod¢p¢tydent e￿nIDer,￿ statement
I have compldrd my examimiion. l ¢onfirni that no matLYial matters hve ¢(#n¢ to my attention in Connecti￿ with
the examination which giycs Tne cause ￿ believe ih&i in. any material re4)CCt:
the acc4Ymtin8 records were not k¢pt in Bcccth with section 130 of the Charities Act" or
the accounts did not accord w¥th the &¢COUnling rccords; or
the accounts did not c¢xnply with the &p￿LLable requirements CO￿em]n8 the a[￿ COnte￿t ofaccwits
set out in the Charitie5 (Accounts arld Rcports) Regulalions 2(K18 other thwj any requitcrwit thal the &¢cow)ts 8iV¢
a 'true and fair. view whi¢h 1$ not a matt¢r ¢onsideT¢d as pjrt of 8n ￿nd¢￿ndent examination.
I have no con¢¢ms and have come a¢TOSS no other matters in ¢ormecti(kn with the examination to whÉch attention
should be drawn in (his report in ordcr to enablc a propcr undcT51anding of the ￿count5 to bc fEached.
RaLhel Doylc ALA DChA
MHA House
Charter Court
Swansea Erttexpriw Park
Swansea
SA7 9FS
MHA is the trading of MFIA Advisory ￿d, a limite41 ¢omp6ny ffwstered in E￿￿18t)d and Wales (C￿7panY
registyation number 16233746).
Date= 21 May 2025

WEST HACKNEY ALMSHOUSE CHARI'ry
STATCI MENT OF FINANCIAI. ACTIVIry'IF
VOR'fHII YEAR EIYDED JI DEI CEMBER 2024
Nott
UntestrlttÈd Endowmenl
Funds
Funds
2024
2024
Total
Funds
2024
Total
Fullds
2023
COME PROM
Charitable aciivities
Inveslment8
86.509
12,227
86.509
12,227
79,999
11,367
TOTAL INCOME
98,736
98,736
91,366
LXPLNDITURC, ON
Charitsble aclivilies
189,077)
(10,525)
(99,602)
(69,230)
TOTAL EXVBNDITURE
189,077)
(10,525)
(99,6021
(69,230)
Net gainsl(10s5¢8) on investments
4.223
7,190
11,413
5,916
13,882
(3,335)
10,547
28,052
TRANSFER BkTWEEN FUNDS
12
NET MOVEMENI. IN FUNDS
13.882
(3.335)
10.547
28,052
RF.CONCILIATION OF FUNDS
Total fvnd8 bTought forward
237,030
530.653
767,683
739,631
Tot#l futtd$ ¢arTied foThYard
12
250,912
527J18
778,230
767,683
Thr not&s on p&ge5 8 to 14 form part of thes¢ fiTW)cial staternents.


## **WEST HACKNEY ALMSHOUSE CHARITY** 

## **BALANCE SHEET 31 DECEMBER 2024** 

|FIED ASSETS<br>Tangible Assets<br>Investments<br>CURRENT ASSETS<br>Debtors<br>Cash & bank<br>CURRENT LIABIITIS<br>CREDITORS: Amounts falling due within<br>one year<br>NET CURRENT ASSETS<br>TOT AL ASSETS LESS CURRENT<br>LIABILITIES<br>CAPITA AD RESERVES<br>Endowment fnd<br>General fund (Unrestricted)<br>Designated funds (Unrestricted)<br>**Notes**<br>6<br>7<br>8<br>9<br>12<br>12<br>12|**2024**<br>**£**<br>358,928<br>315,060<br>673,988<br>5,303<br>118,003<br>123,306<br>(19,064)<br>104,424<br>778,230<br>527,318<br>220,387<br>30,525<br>778,230|**2023**<br>**£**<br>369,452<br>291,669|
|---|---|---|
|||661,121<br>3,106<br>129,252|
|||132,358<br>(25,796)|
|||106,562|
|||767,683<br>530,653<br>202,030<br>35,000|
|||767,683|



Approved by the Board of Trustees on and signed on its behalf by: 

Andre Crump Chair 

The notes on pages 8 to 14 form part of these financial statements. 



WEI ST HACKNEY ALMSHOUSE CHARITY
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBLR 2024
l Basls of pr¢p#i'atlon
The Charity is a CIO who took over the whole ￿dertsking formerly e8rried out by the Ullincoryorated
Charity of the same name (Charity iiumber 214088). The transfer took plyce on 31 D¢cernber 2021 ￿ld the
CIO operates the Almshou%e in the same way and on the %ame terms artd ¢onditions as those of the
nincoyporated Charity.
Th¢ financial 51atetn¢nt5 ate prepared under the hisluTical cost convtnlion, modifjed lo include certain it¢m5
at fairvaluc. Thc financial statements arc prcpared in 5tErling whrch is the ￿n¢tional ¢urrency of the Charity
d roundd to th¢ nea￿51 £1.
The financial staternents have been prepared a going CQnCCTn bBsl$ 0$ tht Trustees believe that no material
un¢ertAinties exiqt, The TnL8tees have considered the level of funds hcld and the expected level of income
ond expenditure for 12 Jnonihs frotn authorising these fjnancial 5taternent5. The budgeled income snd
eX￿nditUre 15 suffiGienl with the level uf Teserveg for the Charity lo bc ablc lo continue as a going concem.
AecountiDg collventio
The Charily constitules a public benefjl entily as defined by TrKS 102. The accounts (financial slatem¢n15)
have been prepared in accordance witli the Statement of RecomTnended Prarfi¢¢.' A¢¢tsunting and Reporting
by ChaTities PTepaTing their accauni% in acci)rdonce with the Financial Reporting Standard applicable in the
United Kingdom and Republlc of Ireland IFRS 1021 and the Charities Act 2011 atjd Getjerilly Accttpted
PractTce as it applig5 frorn l January 2015.
Thc significantaccountitig poli¢ies applied in the preparation of these financial statements are set out below.
These PDlicies have consistently applicd lo all periods presented unles8 otherwise stated.
lttcome recogllltlo
All incornin8 resources are included in the Statetnent of Financial AGtivilies (SOFA) when the Charily i
legally entitled to the income afier any peTfoTll)ancc Gondition$ havc bccn mel, the amount can be me￿ured
reli8bly, 8nd it ts probable that the income will bc rcceived.
Itlcome from chaTitable arlivitlC5 reprrgents tnainlenance cimtributions i￿lUding service charge income and
grants. All incomc from housing a¢tiwtlC5 LS reetsgnised on A r¢¢eivable b&8is.
ExpendfitllrÈ Reeognltlon
All expenditure 15 accounted for on an arGruals bhsis and has been classified under headings that aggregate
all tO8ts related to the category. Expcndithrc is rccow)ised once thcre 15 a legal or con5truLtive obligauon to
tnake paymejits to ihird pthie5, it is probuble thal the seitl¢m¢nt will be required the amount of the
obligalion can bc measured reliably.

WEST HACKNEY ALMSHOUSE CHARtTY
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR EM)ED 31 DECEMBER 2024 {colltiDued)
Sllpport to$¢s
support cost5 are those co%t5 that &%%15t the work of thc Charity but do not direBtly rewcscnt charitable
aetivities gnd includ¢ office ¢osts, govemance costs and administrative costs. They are incurred directly in
support Orex￿1)dilUre ot) the objecls of Ihe Charity.
Tangthle Flx*d Ass¢t$
West Hackney House was constructed in the late nin¢i¢enth Century and theTe 15 no rrL()rd of the otigindl
tost and no vallle is atlributed to the original property. The housing propety cost relates lo improvements
in 1984 funded by a Social Ilousing Grant plu5 subsequent improvements and component repla¢emenL8
Catried out.
Dcpreciation is prowded on all capitalised lanwble fixed o%$cts, at rate% caloulated to writ¢ off thc cost, less
¢Slimat¢d residual valu¢ of each asset on A system8tic b8%1s over jt8 expected u%eful life. No deprecistion i5
provsded on freehold land. The value of the housin￿ properties, bEingJ historiG L051, 15 dtpre¢ialed llsirt￿ the
component accounting mBihod, as rtquircd by the SORP. Thc idcntifjtd components and estimated usetul
economic lives are..
Assel L5v¢$
Iluildin8
Ri)of
Windows
Boil¢r5
Kitchen
Bathroo]n
Mechanical
LleclTiCS
Yegr8
100
70
30
20
30
30
40
Under a policy adopled by the tNstecs in September 2012. items c05ting over £5,000 are cap5tali5td.
Social Hou5iDg Crant
Socizl 14ousing Grant (SHO) is paid by the Homes & Communities Agency to reduce the o05t of
dcvelopmcnt. This was prcviou51y shown as a deduction froni the ¢05t of Ilousing Piop¢rtiL¥ on th¢ balance
sheet. Follvwng the #dopiion of FRS102 this is now included in th¢ Endowment Fund.
SHG is repayable under certain circutnstanLes. primarily folluwing tlie sale uf a property but will nDrrnally
be restricted to net proo¢¢ds of $alc.
IDvestmellts
Jnv¢%ttn¢nts aTe staled at mid-market va]uc at thc balance sheei dale. All gains and losses are taken to the
Statement af Financial ActivitlC8 as they aTiSC. Thc Statemcnt of Financial Activities in¢lude5 the net gains
and 105se5 arising on ievaluatiun5 and di5posuls throughuut the year. As investments are revB]ued to fair
walue conlinuously, no realised gains or losses arise.
Cytlleal rep*lrs and m*&ntÈDADee
West Hackney Almshouse Charity ha5 established a regul￿ pro￿[ne of cyclical r¢pairs and maint¢n8n¢
C051s Gharged lo unres¢riGled futyd$ in th¢ period in whi¢h they ar¢ in¢urred.
ExtrJoi'dillary repairs
Losts ofextraorditiary repairs, unlcss representing unprovements to the propertie5 ￿e¢harg¢dtoUnrt￿trIQt¢d
funds in the period in whicli they ar¢ incurred.

WKST HACKNEY ALMSHOUSE CHARITY
P40TES TO THE VINANCIAL STATEM￿,NYs
FOR THE ELYDED JI DECEMBER 2024 (CODtinlledl
1.10 Fund a¢¢outttillg
The de5ignalEd r&%erye5 r¢prr5ent amounts 5Ct aside for Gyclical Tnaint¢nynr¢ and major works rcspectively,
based on guidartce i￿$￿ed by the Almshouse A$s￿l&tiO*, less actual costs incurred.
ThE Endgmment fithd represents those assets which must be held permanently by the charity. principally the
Almshouse pro￿rtY and cwtain invcslmenls. Incomc arisin8 on the endowment fund can bc u5¢d in
accordance with the objects of thc chgrity and i8 included as unrestricted in¢ome. Arty ¢apitgI gains or losses
arisin&> on ihe invesirnenls fonn part of the r￿lld. Legal advi50ry Costs relating to Ihe lund are charged against
the fwid, inves(ment management charges not separately identified by the Trutsd Manager but ar¢ charged
dire¢lly against the fvnd. The staled p¢r¢ent8g¢ is 0.5W/o of the fund8 ulld￿ managemenl.
Unr¢5trioted 8¢neTal funds 3TE availabl¢ for u5¢ at the discretion of the Tn￿le£S in fi￿the[ance ofthe general
obje¢lives of the ChArity and which hav¢ not bc¢n d¢stgnatcd for atjy other purposes.
FinAIICIg1 instruments
The ChaTity only holds basic Financial Instnllnents. The finpn¢ial assets and financial liabilities of the
Chariiy ar¢ as follows..
Debtor%
trade and other debtois (including rent arrears) are basie financial in5trutMents are debt
instrutnen15 measured at atx]ortised c05t as detailed in Note 8. PTepaym¢nis are Dot finan¢i81 instruments.
C&%h at bank- is classificd as a basic financial in5tTumellt and 15 measured at f&ce valu¢,
Liabilities- trade ¢reditors, accnHIs 8niS irther creditors w511 be classifscd 8s fmancial instruments and are
measured at amorti8ed c08las detailed in Note 9. Taxation and 50oial 5ecurily ar¢notir)cluded iD Ihe finanGial
instruments, disclosure. Deferred incomc is not deemed to be a Financial liability, as in the c&%h settlement
hAS already taken place and there is simply an obligation to deliver charitable 5ervjce5 rather than cayh or
nother fitwicial instrument.
1.12
Judgements aDd key sources of estimatioll uncertaiTLty
Thtt judgements (apart from th05¢ involving estimate5) tliat have bven Tnad¢ in the proce%E of applying the
above accounting policies which have had thc Tnost 5ignifi¢ant eff¢¢t ort amounts r¢eognised in Ihc finattcial
statements are in r¢spe¢t of depreciation rates 8nd the ugcfijl economic lives of tangible fixed as8ets.

WEST HACKNLI Y ALMSHOUSE CHARITY
NOTES TO THE FINANCIAL STATEMENTS
FOR THE ITAR ENDED 31 DECEMBER 2024 (continued)
Analysis of income from ¢h*rit8ble actlyltles
2024
2023
Full occupancy maintenance conlributions
Voids from v8cant properties
86,509
79,999
Contributtons receivable
79.999
lllv¢stment Ineome
21Tr24
2023
Dividen(L8 Olld interest from listed investments
12.227
12.227
11,367
Eipettditllre on chAritgble activities
2024
21123
Dtrect eosts
Routinc T¢paiT5 and maintenance
Cyclical maintenance
Tolal expenditure on proJ￿rtIc8
27,790
22,464
52,265
22,464
Support Costs
Light and heat
Inswance
CJard¢n maiHtenanco
Swidry expeTr8es
Management Charges
Clerk's rcmuneration
SubscriptlOn5
Guvemance costs- Indepetmlent examiner's remuneratiotj
Other professional feE5
Dcpreciation of frcchtsld improvements
4.753
2,210
1,439
876
17,561
4,905
748
4,320
8,618
1,948
1.271
285
16,33Q
3,010
578
4200
Total expenditure on ¢haritable activities
The Charity ha5 ernployed no slatTin either accounting period.
None of the Tr￿stccs. who are consideTed io be the key m8naEcmcnt pcr80nncl of the charity, reLeived
ny emolwnents12023: noije). Per note 14, one tTU5tee received rtiinbutsed of expenxes of£225 for
resident vouchers.
5 Resylt ordlnary getivities
Result on ordinary activit1¢5 55 514ted after chargin8
2024
2023
Indcpcndcnt cxarniner's fee
Depre¢ia¢ion of tangible fjxed assets
4,320
10,525
4,200
10,526
14,726

WEST HACKNEY ALMSHOUSE CHARITY
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DELCI MBLR 2024 {continued)
6 Tathgible r￿ed s55ets
2024
2023
Cost
Freehold Propertia8
Building Equipment
498.800
19.130
498,800
19,130
DepreclatloD
B'fwd l January 2024
Charge for the yearlperiod
{l48,4781
10,525
(137.952)
3 1 December 2024
159003
148 478
Net book value
At 31 Decemher 2023 brO￿￿t forward
369,452
379,978
At 31 De¢ember 2024 c8rried forward
358 927
369 452
The ChaLIty owns West Hackney Aitll5house which was constructed in the late nineteenth century. lThere is
no record of the original cost, and the cost shown abovc repr￿entS expenditure ittcluding componcnt
replacements incurrcd sincc 1984.
7 Jnvestments
2024
2023
Carrying value {market value) at beginning of period
Add.. Dividend reinvc5tmcnt
Less.. Disposa15 at carrying value
Net gdinl(Lossl Dn rev81uation
291.669
11,978
274.620
11,133
5,916
Carrying value Imarketvalue) at end of period
315060
291669
2024
2023
Ilrogkdown by cl88S
Listed invesltn¢nt5
315,060
291,669
At Hi%torica] Cost
94,939
94,939
All investments are held within the UK.
Listed investments consi8¢ entsrely of accumulation share5 held in the M&G Charity Multi-Asset
Accumulation Fund
Debtor5
2024
2023
Rent ArreArs
Prepayments
2,250
3,053
681
2,425

WEST HACKNEY ALMSHOUSE CHARITY
5,303
3,106
NOTES TO THE FINANCIAL STATEMENTS
FOR THE ITAR ENDED 31 DECEMBER 2024 (eoDtinued)
Cr¢dltors and Jccrned expenses
2024
2023
Amounts falling du¢ within onc year
Trade CreditOf5
Rent in advance
Accruals and Sulldry Creditor5
6,195
584
14,135
332
19,063
25.796
Thcre were no capital commitments at the end of the period.
10 Cokntlttgent Liability
Jn the event of any of the PToperties being sold the￿ would bc a liability to recycle or repay the associated grant
that liad been wrillen back, along with any residudl ￿"an1. The lotal amount of Uk¢ So¢ial Housing Grartl received
by the Charity wa5 £199.342, whicli repre8enled the maximum coJtingcn( liability at 31 Dcccmbcr 2021 when
the liahility tr&n$ferred to the %uc£eiqor CIO together with the associated assets.
11 A￿81yS18 of llet assets between funds
AB At 31 December 2024
Designated
Fund
General
Fund
Endowmen*
Fulld
Total
Futkd$
Freehold housing PTOP¢rtie5
Investtncnts
Net Gurrent as5et8
358.928
168 J90
358,928
315,060
104.242
778 230
30,525
116,145
104.242
2203 387
527
18
As 4(31 December 21123
D￿l&￿aled
Fund
Gtiieral
Fund
Toi&l
Funds
Freehold housingpropeities
1fr7ve.FIRieNIs
Nel currenl (Lgsets
369.452
161.201
369,452
291.669
J06,562
767,683
35,000
95.468
106.562
202 030
530 053
12 Fund5
A5 at 31 Decernber 2024
Dtslgtsated
Fund
GÈtk¢r#l
Fund
EkndowmÈtht
Fund
Tol8l
Funds
Balance as at 31 D¢cetnber 2023
Inwme
Expenditure
tnve5tJn¢nt gain5
Transfcrs
Balance as at 31 De¢embBr 2024
35.otio
202,030
98,736
(64,602)
4.223
530.653
767,683
98.736
(99,602)
11,413
(24,475)
110,525)
7,190
30,525
220.387
527.318
778,230

WEST HACKNEY ALMSHOUSE CHARITY
NOTES TO'fHE FINANCIAL STATEM* NTS
FOR T14E YEAR ENDED 31 DECEMBER 21124 (Continued)
As 31 DÉceJnber21123
DesigNaied
Fund
Gelleral
Fiind
ENdowmeNI
FUN
Total
Fmmds
Balan¢e 41 J JaAÈiary 2023
Inconie
4xpevdilure
InVeslmeMÈgoi￿s1[I0S$ets)
Tr(￿SferS
BalapKe ai 31 DeLEmber2023
30.000
172,15
91,366
(58, 704)
2.209
537,472
739,631
91.566
(69,230)
5.916
(JO.526J
3, 707
5.000
35,000
202.030
550,653
767,083
The d¢5iwiated fuDd5 repTesent atnoullls set aside for cyclical maintenance and eXtraordin￿Y works rcsrKCtively,
based on guidance issued by the Almshous¢ Association, less actual ¢osls incurred.
The ¥enerdl lund which is wjrestricted, is available for use at the discrelion of the Tru¥te¢s in fLther¥J]ce of the
general objective5 of the Ch&rity.
The Endown]ent fi]nd represents those assets which must be held pernianenlly by the ¢h9rity, principally the
Almshouse propErty and certain investments. Any capital 82ins or losses arising on the inveslmenls form part ofthe
fund. Investment management charges leg813dvice, andpropety depre¢iution relJting tothe furtd urt ¢haTg¢d against
the fund. M&G who 15 the Fund Manager 5tate5 on thcir web81te that their charges applied agaitist thc fijnd are 0.59Yo
per atfftwn, however th¢s¢ w not sepaot¢ly di5¢1osed by th¢ futld managErand have bEen nettd off in the foTegoing
disc105urc.
13 R¢l#ted Party Tran5action$
There were no related paty transactions in eitherperiod.
14 TTlt5tees Ei xpense5
Dursng the ycar one trustec was reimbursed £225 for voucherq for a Christmas rcsidcnt event.
14