Charity number.. 1196080 ALMSHOUSE CHARITY OF ARTHUR WINSLEY AND OTHERS TRUSTEES. REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2025
ALMSHOUSE CHARITY OF ARTHUR WINSLEY AND OTHERS CONTENTS Page Reference and administrative details of the Charitable Incorporated Organisation, Its Trustees and advis&rs Trustees. report Independent auditor's report on the financial statements Statement of financial activities 10 Balance sheet 11 Statoment of cash flows Notes to the financial staternents 13-26
ALMSHOUSE CHARITY OF ARTHUR WINSLEY AND OTHERS REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITABLE INCORPORATED ORGANISATION, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 OCTOBER 2025 Trustees Paul Coleman (resigned 27 August 20251 David Hart Simon Pinion Andrew Waters Irene Kellle Amanda Westbrook Timothy Field Charity registered number 1196080 Principal office 22 Winsley Square Old Heath Road Colchester Essex C012AU Charity Emloyees Mrs Sareena Cobden, Clerk to the Charity and General Manager Mr Martin Rayner, maintenan Assistant Independent audilor Grrffin Chapman Chartered Accountants 4&5 The Cedars Apex 12 Old Ipswich Road Colchesler Essex C07 7QR Bankers Barclays Bank plc 9 High Street Colchesler Essex C01 1DD Solicitor Knights 1 Amphora Place Sheepen Road Colchesler Essex C03 3WG Page 1
ALMSHOUSE CHARITY OF ARTHUR WINSLEY AND OTHERS TRUSTEES, REPORT FOR THE YEAR ENDED 31 OCTOBER 2025 Introduction and Trust¢es responsibilities The Trustees present their annual report lo accompany the audited financial slalemenls of the Charitable Incorporated Organisalion ICIOI for the year ending 31st Oelober 2025. The Trustees have adopted the provisions of the Statement of Recommended Practice ISORPI "Accounting and Reporting by Charities" {FRS1021 in preparing the annual report and financial statements of Ihe Charity. The financial slalemenls have been prepared in accordance with the accounting policies sel out in notes lo the Account5 and comply with the Charity's governing document and the Charities Act 2011. Law applicable lo charities in England and Wales requires Trustees lo prepare financial statements each financial year ensuring that these give a true and fair view of the charity's financial activities during the year and its financial position al the end of the year. ln preparing those financial statements, Trustees must.. Select suitable accounting policies and apply them consislenlly.. Make judgements and eslimales that are reasonable and prudent., Slate whether applicable accounling standards and slalemenls of recommended practice have been followed and subject lo any departures disclosed and explained in the financial slalemenls and Prepare the financial slalemenls on a going concern basis unless it is inappropriate lo presume that the Charity wi11 continue in business. The Trustees are responsible for keeping accounting records which disclose with reasonable accufficy the financial position of the charity and enable them lo ensure that Ihe financial slalemenls comply with the Charities Act 2011. Trustees are responsible for safeguarding the assets of the CIO and taking reasonable steps to detect and prevent fr8ud or theft. Governance and management Arthur Winsley left much of his property lo the Charity in his Will {daled the 28th March 17261. Twelve almshouses and the Chapel were erected and since then other benefactors have left money to the Charity and further houses built. In following the terms of the Will, an annual service takes place lo which residents are invited and this is followed by the Annual General Meeting. Today, the Charity Commission provides that the body of Trustees shall consist of seven competent persons residing or carrying on business in or near the borough of Colchesler. As Trustees retire, new Trustees are approached and appointed lo ensure a mix of skills and expertise. The position of Acting Trustee, who chairs the meetings, rolales annually. The Trustees meet al least four limes a year lo discharge their responsibilities. The risks associated wilh the running of the CIO- its financial health and safety factors - are reviewed regularly together wlh ensuring Ihat the organi5ation operates in a manner which is fair and transparent in accordance with ils governing rules. The Trustees are responsible for the governance of the organisalion and day to day management is devolved lo the General Manager who provides the first point of contact for residents. Trustees are grateful to the General Manager for her commitment lo the organisalion,- she strives lo meet the needs of current residents and those who may choose lo live there in the future. The General Manager and the Trustees are commilled lo ensuring that the Charity is open and transparent and that it seeks feedback on a regular basis. Two residenis. meetings are held during the year giving residents Ihe collective opportunity for direct contact with the Trustees. These eelings are well attended and form part of our overall strategy to consult with the people who live al the Charity. In addition lo this, a survey of residents, views which was undertaken in August 2024, was reported in January 2025 as part of the introduction of the Housing Ombudsman's Complaint Policy The survey had a response rale of 78,/9 and which demonslraled a high level of satisfa¢lion1980/0 of residents responded that they were satisfied with the service provided by the Charity and 90°/D fell that they were kept informed about things that might affect them as a resident}. Page 2
ALMSHOUSE CHARITY OF ARTHUR WINSLEY AND OTHERS TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 OCTOBER 2025 Public benefit Trustees are satisfied that the work of the CIO and ils policies and procedures accord with ils staled objectives and provides langible public benefits. The criteria used lo assess those who may benefit are not unreasonably reslriclive. The admissions policy was reviewed in November 2024, which falls within the financial year for this Trustees, report. Most potential residents apply through Colchesler City Councils Home Choice scheme and this partnership ensures that new residents are appointed in accordance with the terms of the original Will. Purpose and activities The objective of the CIO is lo provide appropriate, convenient and comfortable accomrnodalion for older people over 65 in need of housing. The properties are of varying ages and the Trustees aim lo maintain these lo a high slarndard making improvements where practical and affordable. Some of the properties provide limited opportunities for modernisalion bul the aim of any alleralions is always lo provide a 'home for life, able lo adapt lo changes In the individuals health and mobility. A community call alarm system is fitted in all the properties. Financial revigw - Holding of investments The CIO holds reserves so that il can maintain services lo ils residents during periods of economic uncertainly. 11 also maintains a contingency reserve against major unforeseen expenditure and to meet any reasonable increase in demand as the population ages. The Trustees invest these reserves with the aim of, al least, maintaining their value in real terms. The investment products used need lo provide flexibility so that the funds can be withdrawn for expenditure on properties as and when required. The planned infraslruclure reserves and the redevelopment reserve are available for investment. The Trustees adopt a cautious profilè in respect of investment risk and choose lo invest in well-managed funds including specialist charity investment funds. The performance of the investments improved during 2025 by 13 /0 across the three funds. Reserves Unrestricted funds are needed to.. Provide funds which can be designated for specffic projects lo enable these to be undertaken al short notice if necessary. Cover costs of running the CIO in the short term rf there is an interruption in funding to cover adminislralion and supports costs. Provide funds to meet the Trustees aims lo maintain the almshouse properties lo a high standard, making improvements lo modernise the accommodation where practicable and affordable to meet increases in demand as the population ages. Trustees consider il prudent to hold 8 general reserve fund lo: Avoid the necessity of realising fixed asset investments held for the CIOS use. Cover nine months of the general charitable expenditure. The fund balance at the period end was £200,000. Planned infrastructure funds are needed lo.. Provide funds which can be designated for the upkeep of the eslale and properties lo the high standard sel out in the Aims of the CIO. Enable Infraslruclure projects lo be undertaken al short notice lo keep property voids lo a minimum. The fund requirement is based on the planned propety Maintenan report and the amount held al the end of the period was £1,741,767. Page 3
ALMSHOUSE CHARITY OF ARTHUR WINSLEY AND OTHERS TRUSTEES. REPORT ICONTINUEDI FOR THE YEAR ENDED 31 OCTOBER 2025 Redevelopment reserve funds are needed lo.. Ensure sufficient assets are sel aside lo provide the necessary funding lo allow the redevelopment of the Rose Garden lo provide homes for life and lo increase the number of properties available lo meet growing demand. Minimise any external funding or grant requirements. Fund requirement Is based on the eslimaled build Costs for the planned redevelopment and has been built up over a number of years. The Current estimated Irevisedl build cost is £2.5m-£3m which is the balance on the reserve al the year end. Property reserve funds are needed lo.. Maintain sufficient reserves that are not readily realisable without disposal of property assets held by the cio. The reserve is represented by tangible property fixed assets held by the CIO. Al the period end the fund balance was £2,010,681. 2025 and plans for the future Paul Coleman resigned as a Trustee in Augusl. Efforts are underway lo replace him wth someone with an equally wide-ranging knoedge of property mallers. Whilst plannirig consent was granted in 2023 for the demolition of the Rose Garden dwellings, delays caused by the planning proces5, significantly increased costs, changes in legislation related lo the proposed heating system and excessive conditions {341 influenced the Trustees, decision lo abandon the original project and look at a more modest development. The reduced planned expenditure on this project (largely funded by the sale of a parcel of land al Elmslead Markell leaves more money available lo improve the existing housing stock. A planning application for the revised Rose Garden redevelopment was submitted and permission was granted in October 2025. The Trustees anlicipale work will siart in the first quarter of 2026. Residents are being kept informed of the scheme's progress via the regular newsletter and residents, meetings. The Trustees have decided lo mark the 300th anniversary charity's foundation during 2026. A stock condition survey (planned mainlenance report) was commissioned for the eslale lo ensure that all the properties are kept in good condition. The Trustees and Clerk have continued to work Ihrough the report and plan maintenance tasks lo improve the energy efficiency of our properties and lo redu future maintenance. Following last year's separate report commissioned through Bronlide Consulting la specialist building services consullancyl on the healing systems and their efficiency, The Trustees have agreed lo sel the Planned Maintenance Budget for 2026 to £150,000 due lo the eslimaled £50,000+ cost for cold water supply replacement lo the Old Square properties and further expenses lo reduce future mainlenance and improve energy ratings. Voids from the 10 empty Rose Garden properties are accounted for in Ihe A¢¢ounls bul not included in the annual budget which is ably managed by the Clerk lo the Charity and regularly reported lo the Trustees at their meetings. Following fire safety and access concerns raised by residents Essex Fire & Rescue Service confirmed there was no issue with fire engines accessing properties 140 via the main entrance, and therefore, there is no need lo enlarge the entrance pillars. Several of the organisalion s policies and procedures, together with the role descriptions for the Trustees and Acting Trustee, were updated during 2025 and, where appropriate, consultation with residents look place. Page 4
ALMSHOUSE CHARITf OF ARTHUR WINSLEY AND OTHERS TRUSTEES, REPORT ICONTINUEDI FOR THE YEAR ENDED 31 OCTOBER 2025 Approved by order of the members of the board of Trustees and signed on their behalf by". Irene Kottlg IAcling Trustee Dale.. Page S
ALMSHOUSE CHARITY OF ARTHUR WINSLEY AND OTHERS INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF ALMSHOUSE CHARITY OF ARTHUR WINSLEY AND OTHERS Opinion We have audited the financial slalemenls of ALMSHOUSE CHARITY OF ARTHUR WINSLEY AND OTHERS (the 'charilll for the year ended 31 October 2025 which corNprise the Sialemenl of financial aclivilies, the Balance sheet, the Statement of cash flows and the related notes, including a summary of significant accounting policies. The financial reporting framework that has been applied in their prepar21ion is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Siandard applicable in the UK and Republic of Ireland, Iuniled Kingdom Generally Accepted Accounting Praclicel. The financial slalements have been prepared in accordance wilh Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standards applicable in the UK and Republic of Ireland IFRS 1021 in preference lo the Accounting and Reporting by Charities.. Slalemenl of Recommended Practice issued on 1 April 2005 which is referred lo in the exlanl regulations but has been withdrawn. This has been done in order for the accounts to provide a true and fair view in accordance with the Generally Accepted Accounting Practice effective for reporting periods beginning on or after 1 January 2015. In our opinion the financial slalemenls.. give a true and fair view of the slate of the charity's affairs as at 31 October 2025 and of ils incoming resources and application of resources for the year then ended,. have been properly prepared in accordance wlh United Kingdom Generally Accepted Accounting Practice,. and have been prepared in accordance with the requirements of the Charities Act 2011. Basis for opinion We conducted our audit in accordance with International Standards on Auditing IUKI {ISAs IUKII and applicable law. Our responsibililies under those standards are further described in the Auditor's responsibilities for the audit of the financial slalemenls section of our report. We are independent of the charity in accordance with the ethical requirements that are relevant lo our audit of the financial slalemenls in the United Kingdom, including the Financial Reporting Council's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance wlh these requirements. We believe that the audit evidence we have obtained is suffi¢ieril and appropriate to provide a basis for our opinion. Conclusions relating to going concern In auditing the financial stalemenls, we have concluded that the Trustees, use of the going conrn basis of accounting in the preparation of the financial statements is appropriate. Based on the work we have performed, we have not identrfied any malerizl uncertainties relating lo events or eondilions Ih?I, individually or collectively, may cast signif1canl doubl on the charity's ability lo continue as a going concern for a period of al least twelve months from when the financial slalemenls are authorised for issue. Our responsibilities and the responsibilities of the Trustees with respect lo going concern are described in the relevant sections of this report. Page 6
ALMSHOUSE CHARifi OF ARTHUR WINSLEY AND OTHERS INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF ALMSHOUSE CHARITY OF ARTHUR WINSLEY AND OTHERS ICONTINUEDI Other information The other information comprises the information included in the Annual report other than the financial stslements and our Auditor's report Iherean. The Trustees are responsible for the other information contained within the Annual report. Our opinion on the financial slalemenls does not Cover the other inforrllalion and, except lo the exlenl otherwise explicitly slated in our report, we do not express any form of assurance conclusion Ihereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsislenl with the financial slalemenls or our knowledge obtained In the course of the audit, or otherwvise appears lo be materially misslaled. If we identify such material incon5islencies or apparent material misslalemenls, we are required lo determine whelher this gives rise lo a rnalerial misslalemenl in the financial slalements themselves. If, based on the work we have performed, we conclude that there is a material misslatemenl of this other information, we are required lo report that fact. We have nothing lo report in this regard. Matters on which we are required to report by exception We have nothing lo report in respect of the following mallers where the Charities (Accounts and Reports) Regulations 2008 requires us to report lo you if, in our opinion.. the information given in the Trustees, report is inconsislenl in any material respect with the financial statements., or sufficient accounting records have not been kept", or the financial slalements are not in agreement with the accounting records and returns., or we have not reiVed all the information and explanations we require for our audit. R9$FnsIbIlitieS of trustees As explained more fully in the Trustees, responsibilities slalement. the Trustees are responsible for the preparation of the financial slalemenls which give a true and fair view, and for such internal control as the Trustees determine is necessary to enable the preparation of financial slalements that are free from material misstatemenl, whether due to fraud or error. In preparing the financial slalemenls, the Trustees are responsible for assessing the charivs ability lo continue as a going concern, disclosing, as applicable, matters related lo going concern and using the going concern basis of accounting unless the Trustees either intend to liquidate the charity or lo cease operab'ons, or have no realistic alternative bul lo do so. Page 7
ALMSHOUSE CHARITY OF ARTHUR WINSLEY AND OTHERS INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF ALMSHOUSE CHARITY OF ARTHUR WINSLEY AND OTHERS (CONTINUED} Auditor's responsibilities for the audit of the flnancial stalgments We have been appointed as auditor under section 144 of the Charities Act 2011 and report in accOrdar7 with the Acl and relevant regulations made or having effect Ihereunder. Our objectives are lo obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due lo fraud or error, and lo issue an Auditor's report that includes our opinion. Reasonable assurance is a high level of assurance, bul is not a guarantee that an audit conducted in accordance with ISAS IUKI will always dele¢l a material missl8letnenl when il exists. Misslalerllenls can arise from fraud or error and are considered material if, individually or in the aggregate. they could reasonably be expected lo influence the economic decisions of users taken on the basis of these financial stalernenls. Irregularities, including fraud, are instsnces of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misslalemenls in respect of irregularities, including fraud. The extent lo which our procedures are capable of delecling irregularities, including fraud is detailed below.. The engagement partner ensured the engagement team had the necessary skills and knowledge to identify rion-¢ompliance with applicable laws and regulations. We obtained an understanding of the legal and regulatory frameworks Ihal are applicable to the Charity and for those that are most significant, we enquired into how management ensures compliance is maintained. We identified that the principal risks of non-compliance with laws and regulations related to the Charity. This effects the ability lo continue operating as a Charity. Enquiry and review of the entity's transactions was undertaken to highlight any instances of penalties. fines or legal activity which could suggest non-compliance with laws and regulations. There was no conlradiclory evidence found. We also considered those laws and regulations that have a direct impact on the preparation of the financial statements including the Charities SORP. We evaluated management's incentives and opportunities for fraudulent manipulation of the financial statements (including the risk of override of controls) and determined that the principal risks were related lo the override of delegated authorities and the misappropriation of grant funding. In response, we Incorporated lesling of procurement and expenditure and any other entries at risk of falling outside of delegated authorities. S¢ruliny of unusual transactions and analytical prOdreS were used lo help idenirfy risk factors in monies received and expended during the year. 11 is also slated, as a reminder, that the prirnary responsibility for the prevention and detection of fraud rests with both rllanagemenl and those charged with governance of Ihe Trust. As part of an audit in accDrdance wth ISAS IUKI, we exercise professional judgmenl and maintain professional sceplicism throughout the audil We also.. Identify and assess the risks of malerial misstatement of the financial stalemenls. whether dkje to fraud or error. design and perform audit procedures responsive lo those risks, and obtain audit evidence that is sufficient 3nd appropri2te lo provide a basis for our opinion. The risk of not delecling a material misslatemenl resulting from fraud is higher than for one resulting from error, as fraud may involve Page 8
ALMSHOUSE CHARITY OF ARTHUR WINSLEY AND OTHERS INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF ALMSHOUSE CHARITY OF ARTHUR WINSLEY AND OTHERS ICONTINUEDI collusion, forgery, intentional omissions, misrepresenlalions, or the override of internal control. Obtain an understanding ol internal control relevant lo the audit in order to design audit procedures that are appropriate in the circumstances, bul not for the purpose of expressing an opinion of the effectiveness of the charity's inlernal control. Evalu21e Ihe appropriateness of accounting policies used and the reasonableness of accounting eslimales and related disclosures made by the Trustees. Conclude on the appropriateness of the Trustees, use of the going concern basis of accounb'ng and, based on the audit ev1dence obtained, whether a material uncertainly exists related lo events or conditions that may cast significant doubl on the charity's ability lo continue as a going concern. If we conclude that a material uncertainty exists. we are required lo draw attention in my Auditor's report lo the related disclosures in the financial statements or, if such disclosures are inadequate, lo rnodify our opinion. Our conclusions are based on the audit evidence obtained up lo the dale of my Auditor's report. However. future events or conditions may cause the charity lo cease lo continue as a going concern. Evaluate the overall presentation, structure and content of the financial slalemenls, Including the disclosures, and whether the financial slalemenls represent the underlwng transactions and events in a manner that achieves fair presentation. We communicate with Ihose charged with governance regarding, among other mallers, the planned scope and liming of the audit and significant audit findings, including any significant deficiencies in internal control that we identrfy during our auéil. Use of our rgport This report is made solely lo the charity's Iruslees, as a body, in accordance with Part 4 of the Charities {Accounls and Reports) Regulations 2008_ Our audit work has been undertaken so that we might slate lo the charity's trustees those mallers we are required lo stale ID them in an Auditor's report and for no other purpose. To the fullest extent permilled by law, we do not accept or assume responsibility lo anyone other than the charity and its Iruslees, as a body, for our audit work, for this report. or for the opinions we have formed. Daniel Aldworth FCCA FMAAT Isenior Ststutory Auditor) for and on behalf of Griffin Chapman Chartered Accounlanls Stalulory Audilor 4&5 The Cedars Apex 12 Old Ipswich Road Colchester Essex C07 7QR Date.. 23 Grrffin Chapman are eligible lo act as auditors in lerrns of section 1212 of the Companies Act 2006. Page g
ALMSHOUSE CHARITY OF ARTHUR WINSLEY AND OTHERS STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 OCTOBER 2025 Unrestricted funds 2025 Restricted funds 2025 Total funds 2025 Total funds 2024 Note Income from: Charitable activities 504,797 14,380 504,797 14,380 539.450 13,401 InveslTnenls Total income 519.177 519,177 552,851 Expenditure on- Charitable aclivilies 465,903 465,903 637,463 Total expenditure 465,903 465.903 637,463 Net Incomellexpenditure) before net gains on investments Nel gains on investments 53,274 489,077 53,274 489,077 (84,612) 457,467 Net income Transfers betsveen funds 542,351 182,614} 542,351 372.855 18 82.614 Net movoment in funds 18 459.737 82,614 542,351 372,855 Reconciliation of funds: Total funds brought forward Nel movernenl in funds 18 4,585,448 459,737 1,928,067 82,614 6,513,515 542,351 6, 140,660 372,855 Total funds carri9d forward 5.045,185 2,010,681 7,055,866 6,513,5f5 The SialemeNI of f1nancial activities includes all gains and losses recognised in the year. The notes on pages 13 to 26 form part of these financial statements. Page10
ALMSHOUSE CHARITY OF ARTHUR WINSLEY AND OTHERS BALANCE SHEET AS AT 31 OCTOBER 2025 As reslaled 2024 2025 Not9 Fixed assets Tangible assets Investments 2,013,880 4,246,961 1,931,957 3, 757,884 6,260,841 5,689,841 Current assets Debtors 6,353 100,544 720,407 5,623 89,262 752,874 Investments Cash al bank and in hand 827.304 847, 759 Current liabilities Creditors.. amounts falling due within one year 132,2791 (24,Q85) Not currgnt assets 795.025 823,674 Total assets less current liabilities 7.055,866 6,513,515 Net assets gxcluding ponsion ass9t 7.055,866 6.513,5f5 Total net assets 7.055,866 6,513,515 Charlty funds Reslricled funds Unreslricled funds 18 2,010,681 5,045,185 1,928,067 4,585,448 18 Total funds 7,055,866 6,513,515 The financial statements were approved and aulhorised for issue by the Trustees and signed on their behalf by= Irene Kettle IActing Trusteel Dale". The notes on pages 1310 26 forrn part of these financial statements. Page11
ALMSHOUSE CHARITY OF ARTHUR WINSLEY AND OTHERS STATEMENT OF CASH FLOWS FOR THE Y&4R ENDED 31 OCTOBER 2025 2025 2024 Cash flows from operating activities Net cash used in operating activities 47,769 10,225 Cash flows from investing activities Interest received Proceeds from the sale of tangible fixed assets Purchase of tangible fixed assets Proceeds from sale of investments 13,660 12,681 370 (82,614) (12,OQ4) 500,OQO Net cash (used inllprovided by investing activities (68,954) 501,047 Cash flows from financing activities Net cash provided by financing activities Change In cash and cash equivalents in the year Cash and Cash equivalents al the beginning of the year {21,1851 842,136 511,272 330,864 Cash and cash gquivalents at the end of the year 820,951 842,136 The notes on pages 13 10 26 form part of these financial statements Page 12
ALMSHOUSE CHARifY OF ARTHUR WINSLEY AND OTHERS NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2025 General information The Almshous& Charity of Arthur Winsley and Others is a registered Charitable Incorporated Organisalion incorporated in England and Wales. The principal office is 22 Winsley Square. Colchesler, C012AU. The registered number of the charity is 1196080. The object of the C0 is the provision of AlmshoLJses, for Ihe prevention or relief of povety and lo suptx)rt elderly people. The CIO operates in Essex. Accounting policies 2.1 Basi5 of preparation of financial statements The financial statements have been prepared in accordance with the Charities SORP IFRS 1021 Accounting and Reporting by Charities.. Slalemenl of Recommended Practice applicable lo charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 102} leffeclive 1 January 2019}. the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 102} and Ihe Charities Act 2011. The financial slalements have been prepared to give a 'lrue and faiff view and have departed from the Charities IAccounls and Reports) Regulations 2008 only to the exlenl required lo provide a 'lrue and fair, view. This departure has involved following the Charities SORP IFRS 102} published in October 2019 rather than the Accounting and Reporting by Charities.. Statement of Recommended Practi effective from 1 April 2005 whieh has since been withdrawn. The Almshouse Charity of Arthur Winsley and Others meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised al historical cost or transaction value unless otherwise slated in the relevant accounting policy. 2.2 Golng concem No material uncertainties that may cast significant doubt about the ability of the charity lo continue as a going concern have been identified by the Irusless and in their opinion the use of the going concern basis ol accounting is appropriale. 2.3 Income All income is recognised once the Charitable Incofporaled Organisalion has enlillemenl to the income, il is probable that the income will be received and the amount of income receivable can be measured reliably. Income tax recoverable in relation to investment income is recognised at the time the investment income is receivable. Other income is recognised in the period in which il is receivable and lo the exlenl the goods have been prtsvided or on completion of the service. Donations are recognised in full in the slalemenl of financial activities in the year in which they are receivable. Page 13
ALMSHOUSE CHARITY OF ARTHUR WINSLEY AND OTHERS NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2025 Accounting policies (continued) 2.4 Expenditure Expenditure is recognised once there is a legal or constructive obligalion to transfer economic benefit lo a third party, il is probable that a transfer of economic benefits will be required in selllemenl and the amount of the obligation can be measured reliably. Expenditure is classified by activity. The costs of each aclivity are made up of the lolal of dire¢l costs and shared c051s, including support costs involved in undertaking each aclivily. Direct costs altribulable to a single activity are allocated directly to that aclivily. Shared costs which contribute lo more than one activity and support cosls which are not altribulable lo a single activity are apportioned between those activities on a basis consislenl with the use of resources. Central staff costs are allocated on the basis of lime spent, and depreciation charges allocated on the portion of the asset's use. Expenditure on charitable a¢livilies is incurred on directly undertaking the activities which further the Charitable Incorporated Organisalion's objectives, as well as any associated support costs. Cycllcal repairs and maintenance The Almshouse Charily of Arthur Winsley and Others has established a regular programme ot cyclical repairs and maintenance. Costs are charged lo the revenue account in the year in which they are incurred, and are included in routine maintenance. Planned infrastructure repairs Costs of planned infraslruclure repairs are charged lo the revenue account in the year in which they are incurred, through the planned infrastrusture reserve. Governance costs Governance Costs include those costs associated with Meetng the constitutional and statutory requireFnenls of the charity and include audit fees and costs linked lo the strategic management of the charity, including a 200/0 apportionrnenl of the general msnager's cost in respect of her role as clerk to the charily.Cosls of generating funds are costs incurred in allracling voluntary income, and those incurred in trading activities that raise funds. All expenditure is inclusive of irrecoverable VAT. 2.5 Government grants Government grants relaling lo tangible fixed assets are Irealed as deferred income and released lo the Slalemenl of f1nan¢ial activities upon the completion of the relevant performance-relaled conditions. Other grants that are not subject lo performance-relaled conditions are credited lo the Statement of financial activities as the grant proceeds are received. Grants received prior to the revenue recognition criteria being satisfied are recognised as a liability. 2.6 Interest recelvable Inleresl on funds held on deposit is included when receivable and the amount can be measured reliably by the Charitable Incorporated Organisalion", this is normally upon nolificalion of the interest paid or payable by the inslilulion with whom Ihe funds are deposited. Page 14
ALMSHOUSE CHARITY OF ARTHUR WINSLEY AND OTHERS NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2025 Accounting policies {continued} 2.7 Taxation The Charitable Incorporated Organisalion is Considered lo pass the lesls sel out in Paragraph 1 Schedule 6 of the Finance Act 2010 and therefore il meets the definition of a charitable company for UK corporation lax purposes. Accordingly, the Charitable Incorporated Organisalion is potentially exempl from iaxalion in respect of income or capital gains received within categories covered by Chapter 3 Part 11 of the Corporation Tax Act 2010 or Section 256 of the Taxation of Chargeable Gains Act 1992, to the exlenl that such Income or gains are applied exclusively lo charitable purposes. 2.8 Tangible fixed assets and depreciation Tangible fixed assets costing £500 or more are capilalised and recognised when future economic benefits are probable and the cost or value of the asset can be measured reliably_ Tangible fixed assets are initially recognised al cost. After recognition. under the cost model, tangible fixed 25sels are measured al cost less accumulated depreciation and any accumulated impairment losses. All costs incurred lo bring a tangible fixed asset into ils intended working condition should be included in the measurement of cost. Housing propertles Freehold properties representing housing land and buildings are slated at cost. No cost is allribulable lo non-housiNg land and buildings held as investment properties. The cost of housing properties relate lo improvements carried out which have been funded by Housing Corporation grants, Colchester Borough Council grants and from the Charivs own resources. As the properties are maintained in a slate of repair such that their eslimaled residual value is not less than their improvement cost, the annual charge for depreciation would be nil. Depreciation is charged so as lo allocate the cost of tangible fixed assets less their residual value over their eslimaled useful lives, using the slraighl-line method. Depreciation is provided on the following bases.. Freehold property Furniture and equipment Alarm system 200/. 2.9 Investments Fixed asset investments are a form of financial instrument and are initially fecognised al their transaction cost and subsequently measured al fair value al the Balance sheet dale, unless the value cannot be measured reliably in which case il is measured al cost less impairment. Investment gains and losses, whether realised or unrealised, are combined and presented a5 'GainsllLossesl on inveslrnenls, in the Slalemenl of financial aclivilies. Mediurn term bank deposits over 91 days are shown as current asset investments. 2.10 Debtor$ Trade and olher debtors are recognised al the settlement amount after any trade discount offered. PrepayThents are valued at ihe amount prepaid nel of any trade discounts due. Page 15
ALMSHOUSE CHARITY OF ARTHUR WINSLEY AND OTHERS NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2025 Accounting pollcies {continued} 2.11 Cash al bank and in hand Cash al bank and in hand includes cash and short-lerm highly liquid investments with a short malurily of three months or less from the dale of acquisition or opening of the deposit or similar account. 2.12 Liabllities and provisions Liabilities are recognised when there is an obligation al the Balance sheet dale as a result of a past event, il is probable that a Iransfer of economic benefit will be required in Settlement, and the arnounl of the settlement can be eslimaled reliably. Liabilities are recognised al the amount that the Charitable 5ncorporaled Organisalion anticipates it will pay to sellle the debt or the amount il has received as advanced payments lor the goods or services il musl provide. Provisions are measured at the best estimate of the amounts required lo settle the obligation. Where the effect of the time value of money is material, the provision is based on the present value of those amounts, discounted al the pre-tax discount rale that reflects the risks specific to the liability. The unwinding of the discount is recognised in the Slalemenl of financial activities as a finance c051. 2.13 Flnancial instruments The Charitable Incorporated Organisalion only has financial assets and financial liabilities of a kind that qualify as basic financial inslrumenls. Basic financial instruments are initially recognised al transaction value and subsequently measured al their settiemenl value with the exception of bank loans which are subsequently measured al amortised cost using the effective interest method. 2.14 Pensions The Charitable Incorporated Organisation operates a defined conlribulion pension scheme and the pension charge represents the amounts payable by the Charitsble Incorporated Organisation lo the fund in respect of the year. 2.15 Fund accounting General funds are unreslricled funds which are available for use al the discretion of the Trustees in furtherance of the general objectives of the Charitable Incorporated Organisalion and which have not been designated for other purposes. Designated funds comprise unrestricted funds that have been sel aside by the Trustees for particular purposes. The aim and use of each designated fund 15 sel out in the notes to the financial statements. Reslricled funds are funds which are lo be used in accordance with specific reslriclions imposed by donors or which have been raised by the Charitable Incorporated Organisalion for particular purposes. The cost5 of raising and administering such funds are charged again81 the specific fulld. The aim and use of each reslricled fund is sel out in the notes lo the financial slaternenls. Investment income, gains and losses are allocated lo the appropriate fund. Page 16
ALMSHOUSE CHARITY OF ARTHUR WINSLEY AND OTHERS NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2025 Critical accounting estimates and areas of judgment Eslimales and judgments are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed lo be reasonable under the circumstances. Critical accounting eslimales and assumptions." The Charitable Incorporated Organisalion makes eslimales and assumptions concerning the future. The resulting accounting eslimales and assumptions will, by definition, seldom equal the related actual results. The eslimales and assumptions that have a significant risk of causing a material adjuslmenl lo the carrying amounts of assets and liabilities wilhin the next financial year are discussed below. Critical areas of judgment.. The eslimales and assumptions made by the Trustees involve the transfers required lo designated funds lo allocate funding to the redevelopment reserve and the planned infraslruclure reserve. These are material fund5 which provide funding for expenditure over an extended lime period, and are recalulaled and updated each year. Income from charitable activities Unrestricted funds 2025 Total funds 2025 Total funds 2024 Residents contributions 504,797 504.797 539,450 Investrnent income Unrestricted funds 2025 Total funds 2025 Total funds 2024 Rent receivable Interest received 720 720 720 13,660 13.660 12,681 14,380 14,380 13,401 Page17
ALMSHOUSE CHARITY OF ARTHUR WINSLEY AND OTHERS NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2025 Analysis of expenditure on charitable activities Summary by fund typ8 Unrgstricted funds 2025 Total 2025 Charitable activities 465,903 465,903 Unrestricted funds 2024 Reslricled funds 2024 Total 2024 Charitable activities 509,612 127,851 637.463 Summary by expenditure type Staff costs Depreciation Other costs 2025 2025 2025 Total 2025 Charitable activities 56,286 691 408,926 465,903 staff costs Depreciation 2024 2024 Other costs 2024 Total 2024 Charitable activities 53,150 641 583,672 637,463 Analysls of gxpenditure by activities Support cost5 2025 Total funds 2025 Total fvnds 2024 Charitable activities 465.903 465,903 637,463 Page 18
ALMSHOUSE CHARITY OF ARTHUR WINSLEY AND OTHERS NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2025 Analysis of expenditure by activities Icontinuedl Analysis of support costs Total funds 2025 Total funds 2024 Services 2025 Staff costs Depreciation Rates and water Heal and light Insurance Maintenance Cleaning Exceptional repairs Helpline charges Telephone Residents events Planned infrastructure Subscriptions Accountancy and payroll Training Sundry administration Redeveloprnenl costs Loss on disposal of tangible fixed assets Governance costs 56,286 691 20,831 89,734 8,064 49,239 4.365 43,579 14,320 1,283 952 56,286 691 20,831 89,734 8,064 49,239 4,365 43,579 14,320 1,283 952 161,243 1.178 856 53,150 641 17,215 228,663 7,690 40,255 4,365 25,135 13,724 1,686 1, 109 56,612 1,555 824 161,243 1,178 856 701 701 6,881 6,881 5,868 45,773 128,098 5,100 5,700 5,700 465,903 465,903 637,463 Governance costs included above are as follows". Governance costs 2025 2024 General Manager {200/01 7,046 5,700 6,589 5,100 Audit 12,746 11,68g Page 19
ALMSHOUSE CHARITY OF ARTHUR WINSLEY AND OTHERS NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2025 Detailed breakdown of total spend on properties 2025 2Q24 Revenue maintenance: Eleclrical and plumbing Normal Central Healing Gardens Planned infraslruclure Equipment repairs & purchases 18,310 15.647 10.878 1,487 161,243 2,917 43,579 13,614 13,613 10,002 2,2Q4 56,612 822 25,735 Exceptional repairs 254,061 122,002 Total Exceptional repairs expenditure and planned infraslruclure expenditure above is allocated lo the planned nfraslructure reserve. All other expenditure relates to the general income fund. Auditorfs remuneration The auditor's remuneration amounts lo an auditor fee of £5,70012024- £5, 1001. Staff costs 2025 2024 Wages and salaries Contribution to defined contribution pension schemes 55,010 1,276 57,965 7,185 56.286 53,150 The average number of persons employed by the Charitable Incorporated Organisalion during the year was as follows.. 2025 2024 No. Clerk lo the TnJsleeslGeneral Manager Other staff No employee received remuneration amounting lo more than £60.000 in either year. Page 20
ALMSHOUSE CHARITY OF ARTHUR WINSLEY AND QTHERS NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2025 Detailgd analysis of wages and salaries 2025 2024 General manager- operalional1800/.1 General manager- governa(20.l 28,185 7.047 21,054 26,355 6,58g 20,206 Other staff 56,286 53,150 10. Trustees. remuneratlon and expenses During the year, no Trustees received any remuneration or other benefits (2024 - £NIL). During the year ended 31 October 2025, no Trustee expenses have been incurred {2024 - £NIL). 11. Tangible fixed assets Freehold Flxtures and property fittings Office gquipment Total Cost or valuatlon Al 1 November 2024 1,928,067 82.614 22.979 12.332 1,963.378 82.614 Additions At 31 October 2025 2,010,681 22.979 12,332 2.045,992 Depreclation Al 1 November 2024 Charge for the year 22.979 31.421 691 At 31 October 2025 22,979 9.133 32.112 Net book value Al 31 October 2025 2.010,681 3,199 2.013,880 At 31 October 2024 1,928,067 3,890 1,931,957 The fixed assets were Iransfered from The Almshouse Charity of Arthur Winsley and Others, charity number 2060(K) on 1 December 2022. The freehold properties comprise 80 dwellings wlh associated chapel and 8menity land in Old Heath, Colchesler and are valued for insurance purposes al £32.889,245. Page 21
ALMSHOUSE CHARITY OF ARTHUR bMNSLEY AND OTHERS NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2025 12. Flxed asset investments Listed investments Cost or valuation At 1 Novernber 2024 Revaluations 3.757,884 489,077 At 31 October 2025 4,246,961 Material Investments 31 October 2025 31 October 2024 M&G Equities Investment Fund for Charities Icharifundl M&G Charity Multi Asset Fund 1.467,162 1,181.571 1,598.228 1,278,822 977,056 7,502,006 Parmenian Investments GIA 4.246,961 3, 757,884 The investments were transfered from The Almshouse Charity of Arthur Winsley and Others, charity number 206000 on 1 December 2022. 13. Debtors 2025 2024 Due within one ygar Trade debtors Prepayments and accrued income 308 6.045 1,576 4,047 6,353 5,623 14. Current asset invgstments 2025 2024 Bank term deposits 100.544 89.262 Page 22
ALMSHOUSE CHARITY OF ARTHUR WINSLEY AND OTHERS NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2025 15. Creditors.. Amounts falling due within one year 202S 2024 Trade creditors Accruals and deferred income 2,231 30,048 12,518 11,567 32.279 24,085 Financlal instruments 2025 2024 Financial assets Financial assets measured at fair value through income and expenditure 821,259 843, 712 2025 2024 Financial liabllitles Financial liabilities measured al amortised cost 32.279 24,085 Financial assets measured al fair value through income and expenditure comprise cash al bank and in hand. liquid investments and trade debtors. Other financial liabilities measured al amortised cost comprise trade creditors and accruals and deferred income. 17. Prior year adjustments Prior year figures have been reslaled lo disclose term deposits as inveslmenls. Page 23
ALMSHOUSE CHARITY OF ARTHUR WINSLEY AND OTHERS NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2025 18. Statomont of funds Statoment of funds - current year Balance al 1 November 2024 Balance at Gainsl 31 Octobèr (Losses) 2025 Transfers Inloul Income Expènditure Unrestricted funds Designated funds Planned infrastructu reserve 1,903,010 {161.2431 {79,8011 79,801 1.741,767 Redeveloprnent reserve 2,4S4,200 143.5791 283,521 409.276 3,103,418 4.357,210 1204,8221 203.720 489,077 4,845,185 General funds General Funds- all funds 228,238 519,177 {261,0811 1286.3341 200,000 Total Unrestricted funds 4,585,448 519,177 1465,903} 182,6141 489.077 5.04S.185 Restricted funds Property reserve 1.928,067 82.614 2,010,681 Total of funds 6,513,515 519.177 1465,903) 489,077 7,055,866 A transfer of £203,720 has been made from General funds lo Redevelopment reserve lo maintain the General funds al approximately g months budgeted expenditure. A transfer of £79,801 has been made lo Redevelopment reserve from Planned Infrastructure reserve lo designate funds required for the revised redevelopment programme and the funds required for the planned property maintenance programme A transfer has been made lo Propety reserve from General reserve of £82,614 to reflect the propety additions during the year. Page 24
ALMSHOUSE CHARITY OF ARTHUR WINSLEY AND OTHERS NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2025 19. Analysis of net assets between funds Analysis of net assets between funds - current year Unrestricted Restricted funds funds 2025 2025 Total funds 2025 Tangible fixed assets Fixed asset investments Current assets Creditors due within one year 3,199 4,246,961 827,304 132,2791 2,010,681 2.013,880 4.246,961 827,304 132.279} Total 5,045,185 2,010,681 7.05S,866 20. Reconciliation of net movement in funds to net cash flow from operating adivities 2025 2024 Net income for the year las per Statement of Financial Activiliesl 542,351 372,855 Adjustments for.. Depreciation charges Gains on investments Interest received L055 on the sale of fixed assets Increase in debtors Increaselldecreasel in creditors 691 1489.0771 {13.6601 641 (457,467) (12,681) 128,098 (I,Olf J (20,210) 1730) 8,194 Net cash provided by operating activities 47.769 10.225 21. Analysis of cash and cash equivalents As restBte6 2024 2025 Cash in hand 720,407 752,874 Total cash and cash equivalents 720,407 752, 874 Page 25
ALMSHOUSE CHARITY OF ARTHUR WINSLEY AND OTHERS NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2025 22. Analysis of changes in net debt At1 November 2024 Cash flows Ai31 October 2025 Cash al bank and in hand Liquid investments 752,874 89,262 132,4671 11,282 720,407 100,544 842,136 121,1851 820,951 23. Pension commitments The charity operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the Charity in an independently administered fund. The pension cost charge represents contributions payable by the charity to the fund and amounted to £1,27612024 £1,1851. 24. Related party transactions The charity had no related party transactions during the period. 25. Controlllng party There is no controlling party in this or the preceding period. Page 26