Charlty number.. 1195619 Earl of Southampton Trust Trustees, annual report and flnan¢lal statements Forthe year ended 31 March 2025 Compass Accountants Ltd Venture House The Tanneries East Street Titchfield Hampshire P014 4AR
Earl of Southampton Trust Charity number: 1195619 Contents Page Legal and administrative information Trustees, annual report Statement of Trustees, responsibilities Report of the Independent Examiner Statement of financial activities Balarbce sheet Notes to the financial statements 9-16 Appendix l- Almshouses Income and expenditure account 17
Earl of Southampton Trust Charity number: 1195619 Legal and admlnlstratlve Informatlon Charity number 1195619 Principal address Venture House The T3nneries East Street Tltchlleld HèmpshSre P014 4AR Trustees Nominaled by Fareham Borough Covncil Mrjosef Thoma (Chair from January 20251 M15 Fiance Knight Ichair until January 2025 Mis Conslance Hockley lijntil Apis120241 Mr l Brewerton (vice Chairl Mis Amanda Jobling (Eintil March 20251 Co-opted Trustees Mr5 Amy Kelly Mrs Kathlee Knights luntil August 20241 Mr Nick Girdelr luntll Augusl 20241 Mr Simon Wardell MTS Arnanda Morait Mrs Helen Devereux Mr Colln Wllton-smith Mrs Lynne Barrett (from D8mber 20241 Mrs Rosie Cassidy (from December 20241 EK-Officio Trustee Rev Penelope Ann Thatcher fron) 1 2024 Clerk to the Trustees Mrs T l Kenney lrtdependent examiner Kerry Lawrance FCA Accountants Compass Accountants Llmited Venture House The Tanneries. East Street Titchfield Hampshliè P014 4AR Bankers CAF Bank Ltd 25 Kings Hill Avenue Klngs Hill, West Malling Kent ME19 4JQ Solicltors Lester Aldridge LLP Alleyn House, Cailton Crestent, Southampton S015 2EU Investment advlsèrs CCIA Fund Managers Limited One Angel Lane London EC4R 3AB Page I
Earl of Southampton Trust Charlty number: 1195619 Report of the trustees for the year ended 31, March 2025 The Trustees present their report and the financial statemÈnts for the year ended 31, March 2025. The Trustees. who served during the year and up to the date of this report are set out on paEe l. The Trustees have had due regard to the Euidance issued by the Charity Commission on Publlt Benetit. Structureth governance and management Govertiiti Document The Earl of Southampton Trust is registered a5 a charity with the Charity Commission. A Charitable Incorporated Ccnstilulion dated 23, August 2021 governs the Trust. olntment of Trustees The body of Trustees consist5 of eleven persons belng four Nominated Trustees and seven Co-opted Trustees. The Nominated Tru5tee5 ale peisons who are resident In or near the Ancient Parish of Titchfield and are appointed by Fareham Borough Council. Each ierm is made for a period of four years. The Co-opted Trustees aro persolls who have spècl81 knowledge of the Anclent Parish of Titchfield, by way of residence, occupation, employment or otherwise. Each term is made for a peTiod of live years. Trustee Induction & trainin There is 8 formal Snductlon policy In place for whenever a new Trustee is appointed. Before a new Trustee accepts the appointment, the clerk provides all new Trustees wlth a brlefln8 pack contalning all relevant information. The clerk will arranEe a tour of the almshouses and meet some of the residents. Or anisation In addition to the body of eleven Trustees, there is one nL)n-voting Clerk to the Trustees. Related Parties The Charity 3cts Independently Irom olher charities and does not have any related parties. Risk Mana ement There is a formal risk management pollcy coverlng governance, operational, financial, environmental and compliance that is reviewed regulaily in all afeas of the ch31ity's work. Appropriate a¢tion Is taken to manage the rlsks that have been Identified. Objectives and activities for the public benefit Ob'ect5 The objects of the CIO, as Set out in ihe Charily Commisslon Constltutlon of 23 Avgusi 2021 for the public beneflt are.. al the relief of financial hardshlp, and the rellef of poverty, ol people in the beneficial class bv.. the provision of almshouse accommodation and ancillary equipment, service5 and flnanclal reller for almspersons èppolnted from the class of beneficiaries- and making grants of money ol providing or paying for items, servlces or fatllliles that elther generally or Individually wlll relleve financial hardship. b} the relief of ihe charltable needs of elderly people in the Ancient Parish of Titchfield Page 2
Earl of Southampton Trust Charity number: 1195619 Report of the trustees for the year ended 31" March 2025 Areas of activit The Tlust's activities are confined to ihe area of theAncient Paiish of Titchfield which is now subdivlded Into the Church of England parishes of St Peter, Titchfield, St Paul, Sarisbu¥y & Whiteley, St John, Locks Heath, St Mary Hook with Warsash, Holy Rood, Stubbington and St Faith, Lee on Soleftt. When an almshouse becom& vatant it is advèrti%Èd throughout thè Anclènt P3rlsh invlting Bppllcations from people in need. The successful applicant is selected by a panel of Trustees on the basis of the degree of need demonstrated. Most recommendations foT Relief in Need Giants are made to the Trust by the Social Service5, doctors, district nurses, local couhcillors, or ministers of the various ¢hur¢hes. Grants are made In the light of the degree of need. Decisions iegarding the management of any of the above areas arÈ made by theTru5tÈes at their monthly meetlngs and are carried out by the clerk. In cases of extreme urgency. immediale assistan can be given at the direction of the Chairman. Public benefit The Trustees confirm that they have referred to the guidance contalned iFb the Charlty Commission's general guidance on public benefit when reviewinE the Charity's aims and objectives and in platEnÈng future 3elivltles. Pio eTt During the year, £97,82612024'. £78,9041 was spent fiom the malntenance fund for ienovations. Su Drt for the Elderl Payments totaling EIO.34512024: £10.2791 were made during the year to organisations and club5 Within the Ancient Parish of Titchfield who PTovidc Support lo the elderly. Charltable Grants Charitable Èfant payments totalllng £28,864 12024: £18.3941 were made durlng the year. These were made up as follows.. Appliances Car £2.032 £2,317 £9,226 £1,526 £1,495 £746 Carpets Childcare Vouchers CounsellinE Debts ki Dental Treatment Food Voucheis £490 £1,000 £1,280 £399 £800 Household Items Computer Equipment Mèdlcal Equipment School Trip/Uniforms £390 Support to Local Organisatlons £7,163 Financial Revlew The Charity's financial activities for the year are shown on the Statement of Financial Activities on page 9. Total reserves of the Chailty as of 31 Marth 2025 amount to £1,814,14912024'. £1.818,36cII. Page 3
Earl of Southampton Trust Charlty number: 1195619 Report of the trustees for the year ended 31, March 2025 The charity's propèrtlès are included In the 3CCOUnts at the historical c051 value including any property Improvement expenditure. In the oplnlon of the Trustees, the market value of the charity's properties is £5,224,100 belnÈ £3,496,836 in excess of book value. Accordinglyi the reserves of the Charlty, when the propertles are %tatÉd at market value, would amount to £5,310,985 12024.. £5.279,3161. Investment owers and olic CCLA Fund Managers Limited are the Trust's investment advisors. Reserves Pollc It is the pollcy of the charity to maintain unrestricted reserves, wliich are the free reserves ofthe charily, at a level that providos sufficient funds to cover management and adminisirarion and stspport costs to respond to ernergpncy applicatlons lor 8rant5 that ar15e from time lo time. The unrestricted Eeneral funds at 31 March 2025 amounted to £1.771.33612024: £1.775,5471 of which £1,727,26412024.. £1.638,1441 is Invested in land and properly to fulfil the chaTrty'5 object5. The Trustees consider that the free ¥eseives were maintained at a suitable level throughout the year. Fvnd Raisin In compliance with the requirements ol the Chariti@s Act 2016 8nd the Fundr31sing Regulator it is confirmed that the Trust doe5 not yndeitake fundraising, and no professional fundraiser has been involved. The Trust occasionally receives small donations. The Trust acknowledges and will comply wllh all requlrements to be taken inlo account for any fundralsing activitie5 it undeitakes in the future. Plans for future Period5 Looking ahead to 2025-26, the Trustees intend to- Explore Investment In addltlonal prDpeTtles to expand Ihe Tru5Vs housing portfolio,. Continue strateglc revlews to strengthen govprnance. and long-term planning., Promote the piovision of Support for the Elderly within the Ancient Parish of Titchfield and encouraEe more pplications,. Ensure all Trust prope¥lies requiring refurblshment are assessed and braught up to standard,. 5. Strengthen outreach to ralse awareness of the Trust's charltable support offerlngs. Mr Jos&fThoma On behalf of the Board Date: Page 4
Earl of Southampton Trust Charity number: 1195619 statement of trustees, responsibilitie5 for the year ended 31 March 2025 The Trustees are responsibl@ for preparing thÈ Trvstees, Annual Report (including the Strategic Report) and the fSnanclal statements in accordance with United Kingdom Accounting Standards Iunlted Klngdom Generally Accepted Accounting Practice). The lttw applicable to charities in England & Wales rp.quire5 the Trustees lo prepare Ilnanclal statements for eèth financial year which give a true and fair view of the state of affairs of the chèrlty Bnd of the IncoMng resource5 and application of ie50uice5 of ihe chaiily for that period. In preparing these financial statements, IheTiustees are required to.. select suitable accountlng policies and then apply them con515tently- observe the methods and principles In the Charities SORP 2019 IFRS 1021,. make judÈemeftts and @stim3tÈs that 3rÈ rÉasonablp and prude.nt,. state whether applicable UK AccountinRStanda¥ds have been followed, subject to any materlal departures disclosed and explained in the financial statements- prepare the financlal statement5 on the going concern basis unle55 it 15 inappiopTiate to presume that the charitable tompany will continue in operation. The Trustees are responsible for keepinÉ proper accountlng records that d15close with reasonable accuracy at any time the flnarhcial p0511ion of the chaiity and enable them to ensure ihat the financial statements comply with the Charities Act 2011, the Charity (Accounts and Reportsl Regulalions 2008 and the provlsions of the trust deed. They are also responsible for safeguardlnÈ the assets of the charlty ènd hÈncÈ for takirtg reasonable steps for the prevention and detection of fraud and other Irre8ulaTltle5. Mr JosefThoma On behalf of the Board Date.. I,Iz£ Page 5
Earl of Southampton Trust Charity number: 1195619 Independent examiner's repurt to the Trustee5 of the Earl of Southampton Trust I report to the charity trustees on my examination of thè accounts of the charlty for the year ended 31sl March 2025 which are set out on page5 7 to 17. Responslbllltles and basls of report As the charitvs trustees you are responsible for the preparation of the accounts In accordance wlth the requlrements of the Chaiities Act 20111'the Act'l. I report in respect of my examination of the charit5 accounts carried out under section 145 of the Act and in carrying out my examination I have followed all the appllcable DlrEcllons glven by the Charity Cornmission under section 14515llbl of tho Act. Independent examlner's statement I have completed my examination. I confirm that no mBterial n)atters have come to my attention in connection with the exainination giving me cause to believe that in any materlal respect.. aCCOL4ntlng records were not kept in respect ol the charity as required by section 130 of the Act- or Ihe accounts do not accord with those retords,. or the account5 do not comply with the applicable iequiremenls concerning the form and content of accounts set out in the Charities (Accounts and Reportsl Regulation5 2009 oiher than any requlrement that the accounts glve a 'true and fair view, which is not a matter considered as part of an independent examination. I have no concerns and have come acr055 no Dther matters in connectlon wlth the examinatlon to whlch attentlon should be drawn 4 is report in order to enable a proper understandlng of thè attounts lo bè reached. Kerry Lawrance FCA Compass Accountants Llmlted Venture House The Tanneries East Street Titchfleld Harrpshire P014 4AR Date: i*lio12oZS Page 6
Earl of Southampton Trust Charlty number: 1195619 Statement of financial activities {incorporating the income and expenditure account) For the year ended 31 March 2025 Unrestrl¢ted Endowment funds funds 2025 Total Unrestrlcted Endowment funds fvnds 2024 Total Notes Income from: Charitable activilies WMC income Investments 173,001 8,411 173.001 8,411 154,317 6,156 154,317 6,156 Total Income 181,412 181.412 160.473 160.473 ExpendltUTe on: Charitable activities Charltable erants Almshouse expenditure Other support costs 39.209 107,849 38,565 39.209 107,849 38,565 29.385 93,466 27,543 29.385 93,466 27,543 Total expendlture 185,623 185,623 150,394 150,394 Net gainslllossesl on investments 16651 16651 Net incomellexpenditurel 14,2111 14,2111 9,414 9,414 Transfers between fund5 Net movement In funds 14,2111 14,2111 9,414 9,414 Reconclllatlon of funds: Total funds brought forward 1,775.547 42.813 1.818,360 1,766,133 42,813 1,808,946 Total funds carrled forward 1,771,336 42,813 1,814,149 1.775,547 42,813 1,818,360 All recognised Eains and105se5 are incltFded in the 51atement of financial activitie5. Thè notes on pages 9 to 16 form an Integral part of these financlal statements. Page 7
Earl of Southampton Trust Charity number: 1195619 Balance Sheet as at 31 March 2025 2025 2024 Notes Fixed assets Tangible assets.. other fixed assets Freehold land and propertv 1,727,264 1,638,144 1,727,264 1,638,144 Investments.. Shares alld seculities 139,013 139,013 139,013 139,013 1,866,277 1,777,157 Current a55etS Cash at bank and in hand 50.584 71,595 50.584 71,595 Credltors: Amounts falllng due wlthin one year 12,712 16,5771 Net current assets 47,872 65,018 Total assets less current liabilities 1,914,149 1,842,175 Creditors: Amounts falllng due after more than one yeai io 11(MJ,0001 123.8151 Net assets 1,814,149 1.818,360 Funds Unrestricted funds Designated funds Endowment funds li 1,632,323 139,013 42,813 1,636,534 139,013 42,813 li 12 Total funds 1,814,149 1,818,360 The financlal statements were approved by the Board and siened on its behalf by Mr J05efThoma On behalf of the Board of Trustees Date: The notes on pages 9 to 16 form an Integral part of these flnanclal statements. Page 8
Earl of Southampton Trust Charity number: 1195619 Notes to the financlal statements for the year ended 31 March 2025 Accounting policie5 1.1. Charlty Informatlon The Earl of Southampton TIu5t is a iegi5tered charity, numbe¥ 1195619. The E3rl of Southampton Trust meets the dÈfinitlon of a public benefit entity under section 34 of FRS 102. Assets and liabilities are initially recognised at historical cost or transactlon value. unless otherwise stated In the relevant accounting policy. The principal objectives of the charity are detailed in the Trustees report. 1.2. Basls of preparation of flnanclal statements The financlal statements have been prepared In a¢cordance with Accounting and Reporting by Charities-. Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Flnèncl81 Reportlng Standèrd appllcable in the UK and Republlc of Ireland IFRS 1021 issued in October 2019, the Financial ReportinE Slandard applicable in the United Kingdom and Republic of Ireland IFRS 1021, the Charitie5 Act 2011, and UK Generally Accepted Accounting Practice. The financial statement5 have been prepared on a going concern bésis a5 the Trustee believe5 that no material untertaintiès exlst. The Trustee has consldèrÈd thé level of funds held and thè Èxpected lÈvèl of Sntomè and expenditure IOF 12 rnonihs from authoiising these linancial statement5. The budgeted income arid expenditure is sufficient with thè level of reserves for the charity to be able to continue as a going concern. The Ilnanclal staiements are presented In sterling which Is the functional currency of the company. Monelary amoltnts in these financial statements are rounded to the nearest E. 1.3. Fund accounting General lunds dre unrestricted funds whlch die dviiiltible for use at the discretion ol the Trustees in furtherance of the general oblectlves of the Trust and which have not been designated for other purposes. Designated fund5 comprise unrestritted fvnds that hav8 been set aside by the Trustees for particulaT purposes. The aim and use of each de5iEnated fund is set out in the notes lo the financial stalements. Investment income, gains and losses are allocated to the appiopriate fund. 1.4. Income Income is recoEnised when the charity has entitlement to the funds, any performance condition5 attached to the itemlsl of income have been tnet. it is piobBble thBt the incume wlll be received. and the amount can be measured reliably. Incomè from invektments is includÈd in the yèar In which It Is recelvable. Legacies are Included when the charSty Is advlsed by the personal representatSve of an estate that payment w511 be made or property transferred and the amount involved can be quantified. 1.5. Investment gains and losses Thls include5 reali5ed and unrealised Balns or losses on rhe sale of investmenls, and any galn or loss iesultin8 from revaluing inve5tmentS to market value at the end of the year. Page 9
Earl of Southampton Trust Charlty nurnber: 1195619 Notes to the financial statements for the year ended 31 March 2025 1.6. Expendlture Expenditure is recognised on an accrual basis as a Ilabllity Is incuired. Expendlture Includes anyVATwhlch iannol bE fully Fecovered, and is reported as pa¥t of the expenditure to which it relakes. Charitable expenditu¥e comprises those costs incurred by the charity in the delivery of Sts aetlvitles and servlces for its benèficiarSes. It Includes both costs that can be allocated dlrectly to such actlvltles and ihose tosts of an Indirect nature necessary to support them. Governance costs Include those ¢05ts Incuired In the Eovernance of the company and it5 a55ets and are primarily associated wlth constitutional and statutory requirements. 1.7. Tangible fixed assets and depreciation TanglblE fixed a55ets with a c05t or value greater than £1,000 and a useful life exceeding one year are capitalised at histo¥lc cost. Freehold propertios are Included In thè accounts at their hi510ric cost plu5 ImprDvement expenditure to date. An estlmate of ihe current market V31uo is given by the Trustees in note 7. DeprEciation ha5 beerb provided at lates calculated to spread the c05t of each a55et over its expected useful Ilfe as follows.. Computer and officÈ Èqulpment - 33% reducing balante No depreclallon Is provlded In ¥espect of freehold propertles as. in the oplnlon of the Tru51ee5. the expected net realisablevalues ale significantly in exce55 of their current nei bookvalue5, and any re5uliin8depreclatlon charge would be immaterial. 1.8. Investments Fixed a55et inve51ment5 in qUDted share5, traded bonds or Similar, are valued iwjitially at cost and Subsequently at fair value in the accounts uslng their mid-market valuations at the year end. Investment property Is carried at falr value dÈtermined annually elthei by the Trustee5 or by external valuers. hlo depreciation is provirled ènd changes in fair value are recognised in the Statement of Financial Activities. 1.9. Basic financial Instruments The Trust'5 financial asset5 and liabilitie5 consist of cash and cash equivalents, short term investmenls, t¥ade debtors, trade creditors and acc¥ued experbses. rhe fair value of these items approxlmates their carrying value due to their short-term value. Unless otherwise noted, the Trust is not exposed to sienificant interest, foreign exchange or ciedit risks allsing from these instruments. 1.10. Cash flow statement The charlty has taken advantage of the small chailty exemptlon fr(Im preparlng a cash flow 5tatem2nt. Page 10
Earl of Southampton Trust Charity number: 1195619 Notes to the flnanclal statements for the year ended 31 March 2025 Income from Almshouses and other property Unrestrlcted funds 2025 Total Unrestrl¢ted Funds 2024 Total Weekly maintenance contribution received from Almshouses Car park Income Other rent received 164.838 6,435 1,728 164,838 6,435 1,728 148,884 5,433 148,884 5,433 173.001 173,001 154,317 154,317 Almshouse expenditure Unrestrlcted Deslgnated funds funds 2025 Unrestricted Designated Total funds funds 2024 Total Admlnistration salarv Routine maintenance 9,743 9,743 97,826 8,424 1.380 255 8,424 84,787 255 97,826 83,407 Ulilities and sundry expenses 280 10,023 97,826 107,849 10,059 83,407 93,466 Governance and support costs 2025 2024 Governance costs Gov@rnancÉ salaly Accountancy Legal fees Support costs stationery and posta@e Computer consumables Telephone Depreclation and1055 Qn disposal of a55et5 Sundry expendilure 9,744 3,768 18,171 8.423 3,048 11,997 99 832 199 126 577 525 4.984 715 873 55 Bank chaiges Enlerlainment 1,203 38,565 27,543 Page 11
Earl of Southampton Trust Charlty number: 1195619 Note5 to the financial statement5 for the year ended 31 March 2025 Staff costs 2025 2024 Employment costs Wages and salarles Soc131 securlty costs Pension contributlons 18,889 16,538 598 309 19,487 16,847 The average n(tmber of employees during the year was l. No employee re£eived emoluments of more than £60,000. Trustees, emoluments No trustees recelved remuneration durlng Ihe perlod or were reimbursed for expenses incurred12D24'. None). Tangible fixed asset5 Computer and offlce equlpment Total Cost brouÈht forward Oisposals At 31 March 2025 Depreclatlon At l Apiil 2024 Charge for the year At 31 Maich 2025 Net book values At 31 March 2025 At 31 March 2024 Page 12
Earl of Southampton Trust Charity number: 1195619 Notes to the financlal statements for the year ended 31 March 2025 Freehold land and property Weeklv maintenance Cost Includlng ontrlbution improvements re¢elved at l April 2024 Cost intludlng Market Improvements at value at 31 March 2025 31 March 2025 Addltlons Barry s Cottages 15 High Street 17 High Street 19 HiÈh Street Godwins Cottuges 193 South Street 19b South Street Pursons Cottoges 16 West Street 7.380 7,569 8,208 225,000 225,000 225,000 3,000 3.000 9,050 8,208 136,016 136,016 245,000 245,000 8,208 9,993 8,208 8,208 240,000 240,000 240,000 240.000 18 West Street 20 West str8et 22 West Street Godfrey s CottugÈ 14 Frog Lane Orchord Cottoges 26 Frog lane 28 Frog Lane 30 Flog Lane 32 Frog Lane 34 Frog Lane Ellis Cottoges 11 Gainsborough Mews Ila Gainsborough Mews Land at SkSnhouse Piece Land at rear of 75 West Slreet Barry's Meadow Cai Park Plots 10 & 15 24 The Square 248 The Square IFlht 2 above) 6 Lower Bellfield 8 Lower Be15field 278,040 278,040 7.889 166,989 166,989 240.000 8.208 8,208 8.208 8,208 4,049 245,0110 245,000 245,000 245,000 245,000 327,860 327,860 9,642 6.515 117,500 117,500 250,000 250.000 600 1.000 2,500 300 300 6,435 2,337 2,337 1,819 3,625 11,842 11,593 40,373 215,000 164.165 186,564 40,373 304,120 164,165 186,564 215,000 215,000 350,000 350,000 89.120 171,273 1,638,144 89,120 1.727.264 5,224,100 The investment PToperly at 243 The Square was tran51erred to freehold land and property in the previous year. Pe 13
Earl of Southampton Trust Charlty number: 1195619 Notes to the financial statement5 for the year ended 31 March 2025 Investments Shares and securitie5 Book cost Mld.market Gains/ Book cost Mid-market at l Aprll value at l Additlonsl IL055esl on at 31 March value at 31 2024 April 2024 IDisposalsl Investment5 2024 March 2024 Cycllcol molntenoncefund COIF Charities Dep051t fund 139,013 139,013 139,013 139,013 139,013 139,013 139,013 139,013 Creditors: amounts falllng due wlthln one year 2025 2024 Almshouse deposits Accruals Other creditors 3,976 2,544 57 2,598 114 2,712 6,577 io. Creditors.. amounts falling due more than one year 2025 2024 Almshouse interest free loan loo,000 23,815 loo,000 23,815 Page 14
Earl of Southampton Trust Charity number: 1195619 Notes to the financial statements forthe year ended 31 March 2025 11. Unrestricted funds Galnsl (lossès) l Aprll 2024 Income Expendlture Transfers 31 March 2025 General fund 1,636,534 181,412 187,7971 197,8261 1,632,323 Deslgnated funds.. Cycllcal malntenan¢e fund Extraordinary repair fund Routine malntenan¢e fund 139,013 143,1841 149,6901 14,9521 43,184 49.690 4,952 139.013 1,775,547 181,412 185.623 1,771,336 Unrestricted funds Galnsl (losse51 I ApT412023 Income Expendlture Transfers 31 MaTch 2024 General fund 1,626,611 156,694 169,5671 177,2041 1,636,534 Designated funds.. Cyclical maintenance fund Extraordinary repalr fund Routlne maintenance fund Recoupment fund 24,244 157 133.8661 131,7821 115.1791 148,478 31.782 15,179 16651 1118,2351 139,013 115,278 3,622 1,766,133 160,473 1150.3941 16651 1.775.547 The followlng funds have been designated by the Tru5tee5- Cyclical maintenance fund- the fund was set upto provldefor porlodlt maintenance of the Almshouses, to Include external and internal redecoration. Routine Malntenante fund- the purpose of this fund is the provision of every day minor repairs and serviclng. Rècoupment fund-the purpose of this fund is to recoup the original purchase and buildln8 cosi of the Almshouses acquired since the Trust was established. Page 15
Earl of Southampton Trust Charlty number.. 1195619 Note5 to the financial statements for the year ended 31 March 2025 12. Endowment funds Galhsl Ilossesl l April 2024 Income Expenditure Transfers 31 March 2025 Endowment Fund 42.813 42,813 42,813 42,813 Galnsl Ilossesl l Aprll 2023 Income Expendlture Transfers 31 March 2024 Endowment fund 42,813 42,813 42,813 42,813 The tsndowment fund represents those ossets which must be held permanently by the Charity whlch In thls case are the proceed5 arislng from Ihe Sale of part of the land sltuatèd at Barry's Meadow, to enable an exlension to be built to the Jubilee Surgery. 13. Analysis of net assets between funds Tartg4ble flxed assets Net current Long term 2025 Total Investments asset5 Unrestri¢ted funds Designated funds Endowment funds 1,727,264 5,059 11(x),0001 1,632.323 139,013 42,813 139,013 42.813 1,727,264 139,013 47,872 iioo,0001 1,814,149 Tanglble flxed assets Nèt turrènt Long term 2024 Investment5 assets Total Unrestricted funds Designated fund5 Endowment funds 1,638,144 22,2D5 123,8151 1,636,534 139,013 42,813 139,013 42,813 1,638,144 139,013 65,018 123,8151 1,818,360 Page 16
Earl of Southampton Trust Charlty number: 1195619 Appendix I Almshouses Income and expenditure account For the year ended 31 March 2025 2025 2024 Income Weekly malntenance contribution recelved (note 71 171,273 154,317 Expendlture Malntenance fund 97,826 83.407 Repalrs and Renewals 1.380 Rates and water 280 255 AdmSnlstration salary 9.743 8,424 107,849 93,466 Net Income from Almshouses 63.424 60,851 Page 17