REGISTERED CHARITY NUMBER: 1202387 Report of the Trustees and Unaudited Financial Statements for the Year Ended 30 June 2025 for Croston Almshouses Charity Mcmillan & Co LLP Chartered Accountants 28 Ealon Avenue Matrix Office Paik Buckshaw Village Chorley Lancashire PR7 7NA
Croston Almshouses Charity Contents of the Financial Statements for the year ended 30 June 2025 Page Reference and Administrative Details Report of the Trustees Independent Examlnefs Report statement of Flnanclal Actlvltles Balance Sheet Notes to the Financial Statements 8 10 14 Detailed Statement of Financial Activities 15
Croston Almshouses Charity Reference and Administrative Details forthe year ended 30 June 2025 TRUSTEES Reverend M Woods MIS HM Lloyd Iresigned 3016120251 Mrs JR Taylor Mrs K Almond (resigned 2919120251 Mrs GM Kearlon AC Marston P Fenemore (resigned 11412025) PJ Guinness MsDCox JH Kinsella lappoinled 1411120251 REGISTERED OFFICE 28 Ealon Avenue Matrix Olfice Park Buckshaw Village Chorley Lancashire PR7 7NA REGISTERED CHARITY NUMBER 1202387 INDEPENDENT EXAMINER Mcmillan & Co LLP Charleied Accounlanls 28 Ealon Avenue Matiix Office Park Buckshaw Village Choiley Lancashire PR7 7NA Page 1
Croston Almshouses Charity Report of the Trustees forthe year ended 30 June 2025 The Iruslees who are also directors of the charity for the puiposes of the Companies Act 2006. present their report wilh the financial stalemenls of the charity for the year ended 30 June 2025. The trustees have adopted the provisions of Accounting and Repoilin9 by Charities.. Slalemenl of Recommended Practice applicable lo charities preparing their accounls in accordance with the Financial Reporting Slandard applicable in the UK and Republic of Ireland IFRS 102} leffeclive l January 20191. OBJECTIVES AND ACTIVITIES Objectlves and aims The objects aTe'. The provision ol housing accommodation for those in need in the area of benefit., Such charitable purposes for the benefit of the residents a5 the Iruslees decide.. The relief of persons resident in the area of beiiefil who are in need. hardship or distress., and In exceptional cases, as determined by the Irustees, the relief of persons who are in need, hardship or distress and who are resident outside the area of benefit or any temporary resident of the area of benefit. The area of benefit is the ancient parish of Croslon (Bispham, Brelherlon, Croslon. Heskelh-wilh-Beconsal1, Mawdesley. Rufford, Tarlelon and Ulnes Walton) with a preference for the ancient township of Crostorn. To further the objects the Charity has thirteen almshouses, nine of which ea¢h have an internal floor area of between 31.2 and 35.3 square melres compared with the minimum recommended for a single peison of 34.0 Square melres. The Charity had four recently modernised almshouses two wilh two bedrooms and iwo with double bedrooms. The almshouses are maintained in good condition for the use of the beneficiarie5. The weekly maintenance contributions received from the almshouse residents were used lo cover the cost of insurance and general maintenance as well as to provide funds for pèriodic upgrades, improvements and refurbishments. The Iruslees confirm that they havè referred lo the guidance contained in Ihe Chafity Commission's general guidance on public benefit when reviewing the Charity's aims and objective5. ACHIEVEMENTS AND PERFORMANCE Charitable activities The Charity follows The Almshouse Association'5 Standards of Almshouse Management" and has issued a Resident's Handbook, based on their example. The Quinquennial report, underiaken by Bernard Taylor Partnership IBTPI in 2022 on all of the properties highlighted areas where work is required to meet the charities obligations and to meet legal requirements. Work last year focussed on the major refurbishment of the Shevinglon Causeway properties, as well as addressing the recommendations from the Quinquennial report as parl of a live-year maintenance and improvements programme. This incurred an expense ol over £124.000 in 2023 leaving limited opportunity for other than urgent works until the maintenance lunds are replenished. All of the Slalulory Gas and Electrical Inspections are up lo dale There have been a number of initiatives on the second and third objects stated above. Investment performance Investment Managers advise on the listed investments. FINANCIAL REVIEW Investment policy and objectives The inveslmenls, including the Emergency Repair Fund, were held with the total Telurn (combined income and capilall being ol prime importance. Page 2
Croston Almshouses Charity Report of the Trustees for the year ended 30 June 2025 FINANCIAL REVIEW Reserves policy The unreslricted funds are to cover general maintenance and perioclic upgrades, improvements and refurbishment of the almshouses and other p¥ojecls and developments which have yel to be approved in detail. An Emergency Repair Fund for the almshouses is intended lo be maintained in Commoa Investment Funds las 8 designated fund) in line with the recommendations of The Almshouse Association., there is no sepaiate Cyclica5 Maintenance Fund or Routine Maintenance Provision. STRUCTURE, GOVERNANCE AND MANAGEMENT Governing document The charity was registered as a Charitable Incorporated Charity ICIO} 112023871 on 20 March 2023 and changed its legal form from Ihe previou5 unincoipoialed charily {2366991 to continue the charities wofk in an incorporated slruclure. This change became effective on fj January 2024 and in accordance with the Slalemeiit Of Recommended Practice is treated as a 'mergei" Merger accounling involves presenling the assets, liabilities and funds as though they had atways been part of the same Ireslrucluredl charity. These comparatives show the results of combining the (unincorporated and incorporaledl charilies for the whole of the year. The Charity cOmprSed the following conslitLtent charities.. The Old Almshouses Icroslon's Almshouse & Wilson's Charities) The Jubilee Almshouses Mrs Margaret Jackson for Almshouses Mrs Margaret Jackson for the Maintenan and repair of Almshouses Poor's Stock (including John Hough & George Norris Chariliesl William Dandy Thom3$ Norri$ Approved by order f the board of trustees on 4 February 2026 and signed on ils behalf by.. AC Marston - Trustee Page 3
Independent Examiner's Report to the Trustees of Croston Almshouses Charity Independent examinetrs report to the trustees of Croston Almshouses Charity I'the Company'} I report lo the charity Iruslees on my examination ol the accounts of the Company for the year ended 30 June 2025. Responsibllllies and basis of report As the charily's trustees you are responsible for the preparation of the accounts. The chaTity's trustees consider that an audit is not required for this year (under section144121 of the Charities Act 2011 I'lhe 2011 Acl'l and that an independent examination is required. Since your charity's gross incomè exceeded £250,000 your examiner musl be a member ol a listed body. I cari Confirm that l am qualified lo undertake the examinalion because l am a registered member of the Institute of Chaflered Accounlants in England and Wales which is one ol the listed bodies. 11 is my responsibility lo= Examine the accounts under Section 145 of the Act To follow the procedures laid down in the General Directions given by the Charity Commission (under Section 14515llbl of the 2011 Act)., and To slate whether particular malle¥s have come to my attention. Independent examiner's statement I have completed my examination. I confirm that no matter5 have come to my attention in connection with the examinalion giving me cause to believe.. Vvhich gives me reasonable cause to believe that, in any material respect, the requirements To keep accounling records in accordance with Section 130 of the 2011 Act., and To prepare accounts which accord with the aGGouriting records and to ¢omply with the accounting requirement of the 2011 Act. Have not been met.. or To which in my opinion, allenlion should be drawn in order lo enable a proper understanding of the accounts to bè reached. JFD Mcmlllan cmillan & Co LLP Chartered Accountants 28 Ealon Avenue Matrix Office Park Buckshaw Village Chorley Lancashire PR7 7NA Date.. 4 February 2025 Page 4
Croston Almshouses Charity Statement of Financial Activities forthe year ended 30 June 2025 2025 Total funds 2024 Tolal funds Unrestricted Endowment fund fund Notes INCOME AND ENDOWMENTS FROM Charitable aclivltles Almshouses 61,308 61,308 53,304 Investment income 153 3,170 3,323 Total 61,461 3,170 64.631 57.523 EXPENDITURE ON Charitable activities Almshouses 42,307 42,307 39,187 Other 1,550 Total 43,857 43,857 40,887 Nel gains on investments 2,186 2,186 NET INCOME Transfers between funds 17.604 13.725 5.356 13.7251 22,960 21,176 Net movement in funds 31,329 18,369) 22,960 21,176 RECONCILIATION OF FUNDS Total funds brought fotward 24,488 2,166,937 2,191,425 2,170,249 TOTAL FUNDS CARRIED FORWARD 55,817 2,158,568 2,214,385 2,191,425 The notes form parl of these financial slalements Page S
Croston Almshouses Charity Balance Sheet 30 June 2025 2025 Total funds 2024 Total funds Unreslricted Endowment fund fund Notes FIXED ASSETS Tangible assets Investments 2,080,145 78,423 2,080,145 78,423 2,080, fj45 86,792 2,158,568 2.158.568 2,166,937 CURRENT ASSETS Deblots Cash al bank ,773 55.035 6.773 55,035 1,786 25,102 61,808 61,808 26,888 CREDITORS Amounts falling due within one year 10 (5,9911 15,9911 {2,400) NET CURRENT ASSETS 55,817 55,817 24,488 TOTAL ASSETS LESS CURRENT LIABILITIES 55,817 2,158,568 2,214,385 2,191,425 NET ASSETS 55.817 2.158,568 2,214.385 2,191.425 FUNDS Unrestricted funds Er)dowmenl lunds 11 55,817 2,158,568 24,488 2,166,937 TOTAL FUNDS 2 214 485 2 191,425 The financial sl8lements were approved by the Board of Trustees and authorised for issue on 4 February 2026 and were signed on its behalf by.. AC Marslon - Trustee Page 8 conlinued.,,
Croston Almshouses Charity Notes to the Flnancial Statements for the year ended 30 June 2025 GENERAL INFORMATION The charily is a registered charity in England and Wales and is a Charilable Incorporated Organisation (CIO). The address of the p¥in¢ipal office is 28 Ealor) Avenue, Matrix Office Park, Buckshaw Village. Chorley, PR7 7NA. There are no material uncerlanlies about the charity's abilty to continue. The presentalional currency of the financial statements is the Pound SteTling 1£). The amounts in the financial slalemenls have been rounded lo the nearest £1. The unincorporated Charity (Croslon United Chaiilies - 2366991 merged to become Ihe Charitable In¢orporated Organisation (Croston Almshouses Charity - 12023871 on 1 January 2024. ACCOUNTING POLICIES Basis of preparing the financial statements The financial stalements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordan with the Charities SORP {FRS 1021 'Accounling and Reporting by Charities. Slalemenl of Recommended Practice applicable to charities preparing their accoun15 in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 102} {effeclive 1 January 20191,, Financial Reporting Standard 1 D2 'The Financial Reporting Standard applicable in the UK and Republic of Ireland, and the Companies Act 2006. The financial slalemenls have been prepared under the historical cost convention, with the exception of investments which are included at market value, as modified by the revaluation of ceilain assets. Income All income is recognised in the Slatemenl of Financial Activities once the charity has entillemenl to Ihe funds, il is probable that the income will be recenied and the arnount can be measured reliably. Expenditure Liabilities are recognised as expenditure as soon as there is a legal or conslruclive obligation commilling the chaTily lo that expenditure, il 15 probable that a IFansfer of economic benefits will be required in settlement and the amount of the obligation can be measuied reliably. Expendiluie is accounted for on an accfuals basis and has been classified under headings that aggregate all cost related to the category. Where Costs cannot be diieclly allribuled lo particular headings they have been allocaled lo activities on a basis consistent with the use of resources. Tanglble fixed assgts There is no record of the original purchase cost of the tangible fixed assets and the cost of major expenditure (less grants received} on refurbishing the almshouses since 1 July 1986 has been capilalised. Tangible fixed ass81s are included al markel value on the basis of vacant possgssion. No depreciation is provided on the almshouses as il is the Charity's practice to maintain these buildings to a high standard and accordingly the l¥ustees consider that the lives of these assets are so long and residual values are such that their depreciation is insignificant. Taxation The charity is exempt from COTporation tax on ils charitable activilies. Fund accountlng Unrestricted funds can be used in accordance with the charitable objectives at Ihe discretion of th8 Iruslees. Reslricled funds can only be used loi parlicular Testricled purposes within Ihe objects of the chaiity. Reslriclions arise when specified by the donor or when funds are raised for paflicular $t11Cted purposes. Page 8 continued...
Croston Almshouses Charity Notes to the Financial Statements - continued for the year ended 30 June 2025 ACCOUNTING POLICIES - contlnued Fund aecountlng Further explanation of the nature and purpose of each fursd is included in the notes to the financial sl8lemenls. Financlal Instruments Financial instruments are recognised when the company becomes party to the conlraclual provisions ol the in51rumÈnl Basic financial assels, which include debtors, prepayments and bank balances. are initially measured al transaction price and are subsequently carried al cost unless the arrangement indicates otherwise and Ihen the asset is measured al the PFesenl value of the future receipts discounted al a market rale of interest. Basic financial liabilities, which include creditors. 8¢cruals, bank loans and group borrowings, are initially recognised al transaclion price and are subsequently carried al cost unless the arrangemenl indicates otheise and then the liabilily is measured al the present value of the future obligations discounted at a market rale of interest. Investments There is no record of the original purchase cost of the listed investments or the agricultural land. The market value of listed investments al 1 July 1991 has been taken as an indication of cost al that date. Investments are included al market value at the year end, for CommDll Investtnent Fufids being based on the bid price and for agricultur31 land on the ba515 of vacant P05ses5ion. INVESTMENT INCOME 2025 2024 Investment as5els Interest Grant 3,170 153 3,073 146 1,000 NET INCOMEIIEXPENDITUREI Net incomel{expendilurel is slated after chargingllcrediling}: 2025 2024 Accountancy 1,680 TRUSTEES. REMUNERATION AND BENEFITS There were no Iruslees, remuneration or other benefits for the year ended 30 June 2025 nor for the year ended 30 June 2024. Trustees. expenses There we¥e no trustees, expenses paid for the year endecl 30 June 2025 nor for the year ended 30 June 2024. Page 9 continu...
Croston Almshouses Charity Notes to the Financial Statements - continued for the year ended 30 June 2025 COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES Unrestricted fund Endowment fund Total funds INCOME AND ENDOWMENTS FROM Charitable activitie$ Almshouses 53,304 53,304 Investment income 1,146 3,073 4,219 Total 54.450 3,073 57,523 EXPENDITURE ON Charitable activities Almshouses 39.187 39,187 Other 1.700 1,700 Total 40 887 Net gains on investments 4,540 4,540 NET INCOME Tra175fers between funds 13,563 7,613 3.0731 21,176 Net movement in fund5 16,636 4,540 21,176 RECONCILIATION OF FUNDS Total funds brought forward 7,852 2,162,397 2,170,249 TOTAL FUNDS CARRIED FORWARD 24,488 2.166,937 2.191,425 TANGIBLE FIXED ASSETS Freehold pioperly COST Al 1 July 2024 and 30 June 2025 2.080.145 NET BOOK VALUE AI 30 June 2025 2 080 145 AI 30 June 2024 2.080,145 The almshouses were valued al 30 June 2006 on the basis of vacant possession by Peter E Gilkes & Company, Chartered Surveyors. Subsequent additions are at cost which the Trustees consider lo be their market value. The historical cost was £499.247 {2023.' £499,247). Page 10 continued...
Croston Almshouses Charity Notes lo the Financial Ststements - continued for the year ended 30 June 2025 FIXED ASSET INVESTMENTS 2025 2024 Shares Agri¢ullural Land 66,423 74,792 12.000 78,423 86,792 Additional information as follows.. Unlisted investments MARKET VALUE Al 1 July 2024 Disposals Revalualior15 74.792 110,463} 2.094 AI 30 June 2025 66,423 NET BOOK VALUE AI 30 June 2025 66,423 AI 30 June 2024 74.792 There were no investment assets outside the UK. The historical cost of the listed investments was £63,008 {2024'. £65,752). Investments (neither listed nor unlisled) were as follows.. 2025 2024 Agiicultural Land DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 2025 2024 Other debtors Piepayments and accTued income 4,890 1,786 Page11 conllnued...
Croston Almshouses Charity Notes to the Financial Statements - contlnued forthe year ended 30 June 2025 10. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 2025 2024 Other creditors Accruals and deferred income 4,441 1,550 2.400 2.400 11. MOVEMENT IN FUNDS Net movement in funds Transfers beiween funds Al 117124 At 3016125 Unrestrlcted funds General fund 24,488 17,604 13,725 55,817 Endowment funds Permanent endowment 2,166,937 5,356 113,725) 2,158,568 TOTAL FUNDS 2.191.425 2 214 385 Nel movement in lunds, included in the above are as follows.. Incoming resources Resources expended Gains and losses Movement in funds Unrestricted lunds General fund 61,461 43,8571 17,604 Endowment funds Permanent endowment 3,170 2,186 5,356 TOTAL FUNDS 64,631 43,8S71 2,186 22,960 Comparatives for movement In funds Nel movement in funds Transfers between funds Al 117123 Al 3016124 Unrestricted fund$ General fund 7,852 13,563 3,073 24.488 Endowment funds Peimanenl endowment 2,162,397 7,613 13,0731 2,166.937 TOTAL FUNDS 2,170,249 21,176 2 191.425 Page 12 continued...
Croston Almshouses Charity Notes to the Financial Statements - contlnued forthe year ended 30 June 2025 11. MOVEMENT IN FUNDS - continued Comparative nel movement in funds, included in the above are as follows.. Incoming resources Resources expended Gains and losses Movement in funds Unr¢stricted funds General fund 54,450 {40,8871 13,563 Endowment funds Permanent endowment 3,073 4,540 7.613 TOTAL FUNDS 40,887) 4,540 A current year 12 months and prior year 12 months combined position is as follows= Net movemer)I in funds Tfansfeis between funds At 117123 At 3018125 Unrestrictpd funds General fund 7.852 31.167 16.798 55,817 Endowmentfunds Permanent endowment 2,162.397 12,969 (16.7981 2,158.568 TOTAL FUNDS 2,170,249 44,136 2.214,423 A current year 12 months arbd prior year 12 months combined nel movement in funds, included in the above are as follows.. Incoming resources Resources expended Gains and losses Movement in funds Unrestrleted funds General fund 115,91 184,7441 31,167 Endowment funds Permanent endowment 6,243 6,726 12,969 TOTAL FUNDS 122.154 84.7441 6,726 44,174 Permanent gndowment fund The permanent endowment fund is the properly ol the charity (including land, buildings and inveslmenlsl which the trustees may not spend as if it were income. The permanent endowment fund must be hÈld permanently and produces an income for the charily. Page 13 continued...
Croston Almshouses Charity Notes to the Financial Statements - continued for the year ended 30 Julie 2025 12. RELATED PARTY DISCLOSURES There were no related party transactions for the year ended 30 June 2025 nor year ended 30 June 2024. Page 14
Croston Almshouses Charity Detailed Statement of Financial Activities for the year ended 30 June 2025 2025 2024 INCOME AND ENDOWMENTS Investment income Investment assets Interest Grant 3,170 153 3,073 146 1,000 3,323 4.219 ChaTilable actlvitTes Weekly Contributions 53,304 Total incoming resources 64,631 57,523 EXPENDITURE Charltable actlvllles Insurance The Almshouse Association Maintenance Improvements Adminislwalion Empty property costs Charitable purposes Legal fees Valuation Office Management fees 1,786 419 29,006 2,354 285 1.695 407 11.830 10.010 214 803 700 13,420 108 575 2.217 5.665 42,307 39,187 Support costs Flnance Bank charges 20 Governance costs Indepèndent examination Total resources expended 43.857 40.887 Net Fncome before gains and 105ses 20,774 16,636 Realisedlunrealised galnsl105ses Reali5ed gainslllossesl on fixecl asset investments Unrealised gains 92 Net income 22,960 21,176 This page does not form parl of the slalulory financial slatemenls Page 15