LIuL>1Yil EIiv¥iup¥ Iv. OknC4¥4lC-IUOD-4LJU I-1W1 IHUDI?Lt2 Charity registration nurnber I1970 (England and Walesl HORNCHURCH HOUSING TRUST ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024
LIiiUSIyII EIIVEYUVe ILI. Obf¥¢c-lVOOkLnj IpwOiau& HORNCHURCH HOUSING TRUST LEGAL AND ADMINISTRATIVE INFORMATION Trustees Melvin Wallace Spencer Seaton Rev Ken Wylie Card Smrth Peter Salisry John Wood Colin Smith (Appointed 14 March 20241 (Appointed 14 Marth 20241 Charity registration Engla1 and WJes 1197580 Accountants J Bushell Audit LLP Grwnd Fl(xy Kings House 101-135 Kings Road Brentwootj Essex ChA144DR Investment advisors Brewn Dolphin Ltd 12 SmiV)field Slreel London EC1A 9BD Ruffer LLP 80 Victoria Street London sWlEL M & G Investment 10 Fenthurch Avenue London EC3M SAG
uububiyii Cliv¥ ILI. Qi•E¥¥¥LE-IVOD-¥LJU I-M4tsD-4J I(>*a& HORNCHURCH HOUSING TRUST CONTENTS Page TTu5tees' r8PC Accountants. report Statement of finanaal activib"8S Balance sheel Noles to th¢ finanryal statements 6-10
HORNCHURCH HOUSING TRUST TRUSTEES. REPORT FOR THE YEAR ENDED 31 DECEMBER 2024 rhe trustees present their annual report and financial ststements f the year ended 31 Deeember 2024. The financial statements have been prepared in accordance wrth the accwnting policies set out in noie 1 to the rinancipj statements ar comply with the Funds of the charivs goveming document the Charities Act 2011. FRS 102 The Financial Repofhng Standard applicable in the UK and Republic of Ir¢land" and the Charities SORP AGwunting and Reporting by Charilies-. Statement of Recommerxyed Practice applicable to charities preparing their accoun15 in accordance with the Finanual RetM)ring S•Thlard appliCae Èn the UK and Republic of Iland IFRS 1021". Oty'ectives and activtties The CIO rernains dormant for Ihe penod due to the legal ownership being transfeed from an unincuporated charity12472361 to a CIO. Public benefit The charity was dormant for Ihe FWiOd. Achievements and perforrnance Signifft¢anl 8¢tivities and aohievernents against oly'eclives rhe charity was dormanl forthe period. Financial review The charity was dorrnanl fo Ihe pen"od. Plans for future periods Even though the CIO is currenlly dom)anl and in the presS of a legal transfer, the futurè plans lor Homchurch Housing Trust align with those ol the unincwraled chanty.. The charity intends lo continue providing sheltered acccmwdation to ts comrnunity. and ensure that maintenance and aneillary lees cover the day40-day running cosls and future refurtNshments_ In the longer tertn, the charity plans lo purchase a couple more properbes to house addrtional persons in financial need and achieve their ot*jectives futher. Economic climate The charity needs to consider the impacl of the economic cth.mate on their opeiats"ons. Since Covid-19 and Brewt. COn5truclion and refurbishments costs have intreased folbwing an increase in Ihè cosi ol materials. In the event of an econotnTC downturn. Homchurch Housiro Twsl is in a Stab position io continue operations as normal. and have asset5 readily available to liquidate to coveT unexpected or risiThJ costs. Covid-19 The charity was among many organisations impacted by the Cowd-19 oulbreak. which 9atlY affected day-tO-¢Jay operations. It has been noted thal necessary measu'res were underlaken dunng the outbreak including closure of sites ta protect the residents. as well as the team. Contingency tAans were forrned eawly lo be able to manage 2 similar situation quickly and effectively. and utilise thr healthy cash re5eTves to progress during the economic derjine. Structure, governance and rnanagement The charity is controlled by its governing documenl and a deed of tnjsl. Homchurch Housing Tru51 was consliluled in ils present form in 1991, forrnerty known as Hornchurch United Charities. The earfiest recogniion of the charity was Appleton's Nmshouses, founded in 1586 and establtshed in the Parish of prnChurCh. Thè trust is wisiered wth Ihe Charity Commission.
utsiyii eiiveiuye Iu. QknE¥4¥LE-IiJOD4TrLJV iMLIOiauLaJ HORNCHURCH HOUSING TRUST TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 The trustees who served during the yeai and up to Ihe date of signature of the finan¢tal stalements were-. Melvin Wallace Spencer Seaton Rev Ken Wylie Carol Smith P&ler Salisbury John Wood Colin Smith (Appoinled 14 March 20241 (Appointed 14 March 20241 Recruitment and appointmenl oftrusfees Each trusiee serves for a four year term bul is eli9iNe for re-apFK)intsnenL None of the trustees has any benefictal interest tn Ihe corTrpany. All of the trustees are memb8rs of the company and guarantee to contribute £1 in the event ol a windiNJ Ltp. Organis8lion81 structure The tK)ard of trustees ensure ihal a meeting 15 held quartety to disctjss Ute daily oppraiFOn5 01 the chzrity, future plans and evaluaie Ihetr rnveslmenl portfolits posth"on. Relationship with rè18terl parbes The charity has no link wth"Related Parttes" as defined by the stsfement of Re¢xynm8nded Practice. The trust88s' report was approved by the Board ol Tmstees. 5vJned by". 95EW18. MelvinVa7face Trustee Date= 29 October 2025
HORNCHURCH HOUSING TRUST CHARTERED ACCOUNTANTS. REPORT TO THE TRUSTEES ON THE PREPARATION OF THE UNAUDFTED STATUTORY FINANCIAL STATEMENTS OF HORNCHURCH HOUSING TRUST FOR THE YEAR ENDED 31 DECEMBER 2024 In order to a55isI you to lulfil your duth.es un¢Jer the Chariites Act 2011. we have prepared for your approval the financial stateTnent5 of Horndhurth Housing Twust for the year ended 31 December 2024. which comprise the statement of financial acliwties the related notes from the tharity's accounting records and from information and xplanations you have gwen us. As a practi5ing member firm of Ihe Inslilule of Chartered Accountants in England and Wales, we are subject to its ethical and other professional wuirements which are detaId at httPs."IIW.1cew.comIegulats.On. This rEPOrt is made to the charittys trn5tees. as a boty. in accordance wth the temis of our engagement letter dated 13 June 2025. Oui bvork has beerh undertaken Sole to prepare for your approval the fitK4n¢ial slatements of Homchurch Hovsing Trust and state Ihose fflatter5 thal we have agreed to state to the tharitys Irustees. as a body, in this reporl In aecordance wlh ICAEW Technical Re18ase 07116 AAF. To the fiJlle5l extent permitted by law. WÈ do rbol accept or assump re5ponsibilily to anyone other Ihan H¢Jnchurch Housing Trust and the charivs trustees as a body, for our work or ftsr this rt. It is your duty lo ensu that Hornchurch Housirvj Trust has kept adequate accounting records and to prepare stalutoty finanoal stateffients lknat grie a Itue and fair view of Ihe ass8ls. liabilities. financial position and surplus of Hornchurch Housing TWSL You consrder that Homchurch H(xJsing Trusl is exempt trom the statutory audit requirement for Ihe year. and is not required to obtain an irrflependent examinèrfs repo We have not b¢¢n instructed lo carry oul an audil or a rewew of the financtal statements of Hornchurch Housing Trust. For this rea50rn. we have not vertfied the accuracy or comFleteness of Ihe accounting records information and explanation5 have given to us army we do not. the10. exwess any Opini on the ststutory financial statements. M J Bushell Audit LLP Chartered Accountants Ground Floor Kings House 101-135 Kings Road Brentwockj E&ex CM14 4DR Dats.. 99- 10- 2025
cItVtrrUV¢ IU. OLtt4442C-IUraQUv IHvtriJu£aJ HORNCHURCH HOUSING TRUST STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 DECEMBER 2024 Unre$tricted funds 2024 Unrestrictèd funds 2023 Not8s Income from.. Donatsons and legac Charilable acbvities Investments Total income Expenditure on: Charitable activities Total expènditurè Net g81n51llossesl inveslments N•1 Sneome and movement in fvnds Reconclliation of funds.. Fund balances at 1 January 2024 Fund balances at 31 D8c•mber 2024 The stslement of finanoal actNities include5 all gains and losses recognised in the year. All income and expenditure derive from continuing actiwbes.
LtUiYJSiyii EIIVeVJVV IU. OknL¥¥¥£L-IIJOOv1-I4knTr2a IMVDIOUL HORNCHURCH HOUSING TRUST BALANCE SHEET AS A T 31 DECEMBER 2024 2024 2023 Notes Fixed assets Tangible assets Investment propety Investments Current assets Debtors Cash al bank and in hand Creditors: amounts falling due wlthin one year Net currènt assets Total assèts less current Il•bilities The funds of the Funds of th• charfjty Unrestricted funds 10 The financial siatemenis were approved by the trustees Dn . 29 Oclober 2025 9èÈB34i$. ace Trusteè
UULYJSIYII EliVe¥ Iv. OknL¥¥4£L- IUOD*LJV I-M4knTrLJ IMVDiaUL?
HORNCHURCH HOUSING TRUST
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
Accounting policies
Charity infornialion
Homchurch Housin9 Trust is a charity which provides sheltered accommodabon for dderly peo who live
within the boroLUh.
1.1 Basis of preparation
The financial siatements have been prepa in accordance wth the Funds ol the charitys goveming
document. the Chanties Acl 2011. FRS 102 7he Finanaal Reporting Standard applicable in the UK and
Republrc ol Ireland" an
VU51Y1j EIivvRJpe ILJ. IIIOLWLKI HORNCHURCH HOUSING TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 Accounting policiès 1.5 Expenditur• Expenditure is iecognised {)r5 there is a legal or constmcts.ve cl>ligab"( lo transfer Èconomic benefit to a third party. it is probable Ihat a transfer ol economic benefits wll be qUired in settlement. and the amount of Ihe obtigation can be measured reliabty. Expenditure 15 classified by activity. The costs of each actiwty are made up of the tolal of direct costs and shared costs. including SUPFX)rt C0515 invdved in undertaknng each activity. Direct costs altributable to a single actimly are allocated direcdy lo thaf actmty. Shared costs which contribute io more ttr.an one activity and support costs %yh¢ch are nol attributable to a single activity are appotlioneo belween those activib.es on a basis consistent with the use of resources. Central staff costs are allocated on Ihe basis of time spent. and depreciation charges are allocated on the portm of the asset's use. 1.6 Tangible fixed asset$ Tangible fixed assets are Ini"31TY measured at cost aj Subsequent Measu at cost or valuation, n¢t of depreciation and any impairment losses. Depreoation is recognised so as to wriie off IhÈ ¢ost or valuation of assets less fheir residual values ovei their useful livès. The gain or loss arising on the ¢Jisposal of an asset is deteined as the rfferen between the sale proceeds and the carrying value of the asseL and is recognised in the statement of finanaal activities. 1.7 Investment property Inveslmenl propety. whiGh is property held to eam renials andlor lor capital appreciation. is initially cognised at ctsst, which includes the purchase cost and any directly attributable expenditure. Subsèquently It Is measured at fair value al the reporting end date. The surplLLS or deficit on revaluation is renised in profil or loss. 1.8 Fix•d asset Investrnents Fixed assel investments are inrtialty measured at transacb.on wcè èxeluding iran5action costs, and a subsequently me85ure(l al fair value at each rep)rting date. Changes in fair value are recognised in net Ineomellexpenditurel for the yea.. Transacts"on cosis are expensed as incurred. 1.9 Impairment of fixed assets A.. each reporting en%Y dale. Ihe Funds of Ihe charily reviews Ihe carying amounts of ils tangible assets to determine whether there is any indication that tFK)se assets have suffered an impairmeni loss. If any such indication exists. the rtcoweiable amDunt of the assel is estimated in order to determine the exteni ol Ihè impairment h)ss lif anyl. 1.10 Cash and cash èqulvalents Cash and cash equivalents include cash in hand. deposits held ai call wilh bank5, Other 5hort-lerm liquid Investments wtth original maluritses of three months or less. ané bank overdrafts. Bank overdrafts are shown withtn borrowings in current liabilib'es.
VULUbig11 CIIV¥ILIVe ILI. OknE444£E-IVDD1v I-•Wl-£3 IMvDIJUL3a HORNCHURCH HOUSING TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 Accounting policS 1.11 Financial Instruments The Funds ol the chanty has elected to apFAy the provisions of Section 11 'Ba5iE Financial Instrurnents, and Section 12'01Fr Financial Instruments Issues of FRS 102 to all of its financial instruments. Financial inSLrurnents are recognised in the Fun(Js of the tha[rtS balance sheel when the Funds of the charity bpcornes party to the contradual proyigons of Ihe instnJmenL Financial assets and liabil.S are offset, the net amounts psented in the financial ststemerbts, when there is 8 legalty enforTrable righl to sel off the recognised armunts and there Is an intention to 5etUe on a nel basis Dr lo alIse Ihe asset and settle the liaimlty ymultaneously. Basic financlal assets Basic financial assets. which include debtors and cash and bank balance5. ale initially tMea5ured at lransacts.on price induding transaciion costs and are subsequenlty carried al arnotbsed cost using the effective Interest method unless the arrangement consti(ytes a finaniing transaction. where ihe transaction is measured at the pre5enl value ol the future re£wpts discounted al a mat1(et rate ol interest. Finaneial assets dassified as receae within on6 yèar are rK)t arrK)rtised. Basic financial liabiliti85 Basic financial liabilities. induding creditors and bank k)ans are initiaty reeo9nised at transaction price unless the arrangemenl constilvics a finanong transaclron. Whe the debl instrument is measured al the present value of IhÈ luiur8 payments discounled at a marfrfei rale of interest. Financial liabilits.es classified as payable thin one year are not arnorb"sed. Debt instrumenis are subsequenuy carried at amorbsed cost. using the effective interest rate mèthod. Trade creditors are obligations to pay for gcthjs or setvices Ihal have been acquired in the ordinary course of cperations frorn suppliers. Amounts payable are classified as current liabilities if payment is due wlhin one year or le55. If not. they are piesented as nOrrrent liabili:ies. Trade crediiors arè r8cognised initi8lly at transactK>n price and subsequently nasure at amcftised cost u&ng the effective interest mothod. Dere¢o9nition of financlal Ilabilities Financial lia11&S are derecognised when th& Funds of the charity's conlraclual obligations expire or ar discharged or cancdled. 1.12 Employee benefits The cost of any unused holiday entitlement is recognised in the perEod in which the empltsyeè's serwces are received. Teminalion benefits are recognised immed'"ately as an expense when the Funds of the charity demonstrably commilted to teTrninale the ernployment of an ernoyee or io provide tem)inatson benefits. Critlcal accounting estimates and judgements In the application of Ihe Funds of the charity-s accounb.ng paes, the Irustees are required to make judgements. estimates and assumptions aboul the carrying amoun:. of a55els and liabilities that are not readily apparent from other sources. The estimates and as50Ciated assumptions are based on historical experience and olhu factors that are considered to be retevant_ Actual resul may differ from these estimates. The estimates an¢Y undertyirKJ assumpl.ons are reieWed on an ongoing basis. Revisions lo accountlng estimates are recognised in ihe penod In whith Ihe estimate Is revised Whe the revision aHec15 only that period. or in the peri¢xJ of the revision and ftrture periods where the revision affects th cuirenl ar future teriods.
vuiusiyii ttrivvw iu. OLE¥44£c-Ivt> JJlWDI?V£ HORNCHURCH HOUSING TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 Income from donations and legacies Unrestricted lunds 2024 Unrestri¢ted funds 2023 tX)nations anty gifts Income from charttable a¢tivitl•s Unrestricted funds 2024 Unre$tri¢ted funds 2023 Chari¢able activities Weekly maintenance & ancillary charges Income from investments Unrestricted Unrestricted funds funds 2024 2023 Dividends receivate Expenditure on charitable activities Charitable activities 2024 Direct costs Slaff costs Repairs & maintenance Insurance Property uh'lilies Accounlancy lees Helpline 5erwce Advertising Anatysis by fun(1 Unrestrtcted funds Trustees None ol Ihe Irustee5 lor any persons ccx)nected them) leWed any mUnerab.0n or benefits from the Funds of the charity during the year.
Us1yrI Efiv¥RJPV ILJ_ Obt¥£C-IVOD4LIU HORNCHURCH HOUSING TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 Employeès The average mgnthly number of empk)yees duriThJ Ihe yeai was". 2024 Number 2023 Number Tgtal There were no employees whos8 annual remunerdtion was mce than £60.000. Remuneration of key manag•m•nt ptrsonnel The rcmuneration of key management petsonnel was as follryws.. Taxatlon The charity is exempl laxation on its adivith.es bause all its income Is apFAied fry charitable purposes. 10 Unrestricted funds The unrestricted funds of the charity compnse ihe unexpended balances of donab.ons and grants which are rx)t subject to spectfic condibons by donors a1 gianlors as to how tleY may be used These include ijesignated fijnds which have been sel Èsid8 oui of unrestricted fijnds by Ihe trusiees for specific purposes. At 1 January 2024 Incoming sources Resources expended Galns and lossès At31 Deeèmber 2024 General funds Previous year.. Al 1 January 2023 Incoming sources Resources expended Gain5 and losses At31 Dècèmbèr 2023 General funds 11 Related party transacbons Therè Were no disclosable related party transactions during the year12023- nonèl. 10-