Haineswatts The Mary Hatch Almshouses with Diamond Jubilee Cottages Financial Statements For the Period Ended 30 June 2024 Charitable Incorporated Organisation Charity Registration Number 1202809 Registered Provider of Social Housing Number A3909 haineswatts.co.uk THE MARY HATCH ALMSHOUSES WITH DIAM&YD JUBILEE COTTAGES CONTENTS OF THE FINANCIAL5fATEMENTS FOR THE PERIOD 24APRIL 2D23 TO 30JUNE 2024 Page Report oftheTrnstees Independent E￿minEr'S Report statement of Financial Activities Balants Sheet Note5to the Financlal StatÈmÈrrts 7 to 14 Detailed Statement of Flnan£lalActi¥lties 15 THE MARY HATCH ALMSHOUSES WITH DIAMOND JUBILEE COTTAGES REPORT OF THE TRUSTEE5 FOR THE PERIOD 24APRIL2023 TO 30 JUNE 2024 The tru5tee5 present their report wth the financial stat2ments of the charity for the period 24 April 2023 to 30 June 2024. The trustees have 8dopted the provisions of Accounting and Reportlng by Charities= Statement of Recommended Practice applic3ble to charities preparing their accounts in accordantt with the Financial Reporbng Stsndard applica￿￿ in thÈ UK and Republir of Ireland (FR5 1021 leff¥tive ljanuary 20191. The finanoal statements have been prepared in accordance with the accounting polries set out in notes to the account5 on page5 7, 8 and 9 and cotnply urith the charit515 governing d(Kurnent. the Charities Act 2DII and Accounting and Reporring by Charlties.. Statement of Recommended Prattice applicaNe to charities preparing thÈir accounts in accordan￿ with the Financial Reporting Stsn6ard 4pplicable in the UK and Republic of Ireland pubiished in October 2019. OBJEcmiESAND A￿mTIEs Objectives and aims The objects of the Charity are.. lal the reliÈf of neÈd ÈmonÉst inhabitants of the parlsh of Wit￿￿ and nÈightx)uring parSshes ty the Pr￿l$S0n of housing acccmmtsjation,. and Ibl such other charitable purposes for the knefit of the re5tdents of the accommodation yovided by the charity as the tru5tee5 may decide. Application of Income The net income shall be applied first to repair, insure and meet all other outgoings in respect of the Charitvs propertie5 and all prorer costs of the Charitsls èdmini5tration and management Thereafter net irKome shall be applied forthe bÈnefit of the almspÈople of the Charltv. Significant acti￿leS The Charity currendy provides six almshouse and its aim is to utilise these as far as possible to meet the objectlves of the Charity- Publi£ benefft These acbwties are considÈred to be for thÈ putlic kneflt ard In runningthe Charlty the Trustees have regard for the Charity Commisslon guidance on pU￿1C beneflt. ACHIEVEMENT AND PERFORMANCE tharttable adlvltles The trustees continue to te cO￿er￿ed for the welfare tsf the residents and the properties and have stsrted the implementation of the quinquennial re£cmmendation5Wlth the appointrnent of a contr8Ctor. FINANCIAL REVIEW Financial po51t￿n The Charity's financial P￿ition is 35 Set out in the Balan￿ Sheet on poge 6 and isconsidered satlsfactory. Reservts polky The Charity's poliry on reserves 15 to maintsin sufficient rèserves to enable the Charity to continue to achleve fts prlncipal objectDies. FUTURE PLANS The trustees will continue to implement the qulnquennlal survey recommendations to malntsln a 8ccé standard of housing stock. THE MARY HATCH ALMSHOUSES wfTH DIAMOND JUBILEE co￿AGEs REPORT OFTHE TRUSTEES FOR THE PERIOD 24APRIL Z023 TO 30JUNE 2024 sTRU￿URE, GOVERNANCE AND MANAGEMENT GoveTnln8 dotumÈnt The Charity Is governed by a constitutlon dated 3 Aprll 2023. Recwrtme#t and appolntment of newtrustees As vacincSes for Trustees arlse applicatSons are sought from potentlèl cèndldates known to the Tru5tee5 and other suitable local people, Applicènts are then considered by th2 Trustees and appointments made by re501ution of the Tru5ttts. Organlsatlonal structure Oay to day adrninistration gf the Ch8rlty1s¢8rrled out by the Clerk who repNt$ to the Trusrees. Indu(tlon and tralnlng of new trustees New Trustees are bflefed by the Clerk arxl the exlstlng Trustees on the hlstory and octlvltles Df the Charlty. They are provSded with è copy of the Charlty Commlsslon publlc3tion 'The Essentlal Trustee" detailing their responsibllitie5 and provlding guldance on being a Trustee. New TTUStees are provided wSth a COFV of the Charlty kheme and the latest account5. Related panies There are no other char￿t￿5 related to The Mary Hatch Almshouses wlth Dlamond Jubllee Cottage5. The Clerk to the Charity15 also Clerk to other almshouse ¢harltles. R15k manaKement The trustee5 have a duty to Idenufy and revlew the rlsks to whlch the charlty 1$ exposed and to ensure approprl*e controls are In place to provlde reasonable 355uronce a¥èlnst friud and error. Throvsh the employment of prDfe$4onal advlsers the Trustees seek to ensure that èll of the Charlty's management and declslon maklng processes take full account ol. and comply with, relevant le8i51ètion and regulatory controls. Insurance Includin8 property owner5hlp and publlt liabllity Is reassessed annuallv. REFERENCE AND ADMINISTRAnVE DeTAILS Registered Charity number 1202809 Prlnclpal •ddre$$ 286 Merseè Road Colchester E55e¥ C02 8QY Trustee5 Mr5 S Wllson- Chalr Mrsj 8ullman Mrs C Page Mrs C Clay (resigned Y11241 Mrs C R￿ett M5 V LandrenÈau13ppointed 28161241 THE MARY HATOI AiMSHOVSES WITH DIAM(hND JUBILEE Co￿AGEs REPORT OFTHE TRUSTEES FOR THE PERIOD 24 APRIL20Z3TO 30 JUNE 20Z4 REFERENCE AND ADMINISTAAYIVE DETAILS Independent Examlner Sirnon Welli Certified Accountsnt Haine5 Watt5 Town Wall Ho Balkerne Hill Colchester Essex C03 3AD Solicitors Anthony Colllns Sollcltors LLP 134, Edmund Street 8imiingham 63 2ES Bankevs Bardays Bank PLC $4 Hieh Street Cambs CB7 SHE The Co-Op2rative 8ank PO Box 2SO Skelmersdale WN8 6wr UeTk tothe OLarrty i50n Smith 286 Mersea Ro>J Colchester Essex C02 8QY Approved by order of the board of tru5tee5 on 24 Cttober2024 SiEned on its behalF by. R Fuller Trustee INDEPENDENTEXAMINER'S REPORTTO THE TRUSfEESOF THE MARY HATCH ALMSHOUSES WTh DIAM&ND JUBILEE Co￿AGEs Independent examine¢s re￿rttOthetTVStee50lThe M¥y Hatth AknshLwe5with tsiamond Jubilee Cottage5 I report to the charrty trustees on my exarnination of the èccounts of Mary Hatch A1rn5houses with Diainond Jubilee Cottsges (the TNstl forthe p•iod 24 2023to30June 2024. Ae5PryJ5ibilitie5 and ba5i5 of report As the chèrty trustees of ttrt Trust y(MJ are reS￿n5th1￿ for the prEparatI(￿ ol the occounts in ottordan£e with the requirements of the Charities P£t 2011 Ilhe Act'k I report rn reS￿rt of Thy examination OF Tru5Vs Ktaunts carrEd oul under Section 145 of the and in carrwng out myexamirotion I havefollthved all appl￿ble Dtrectic¥)5 given trytFE Chartty Qjmmtsl¢￿ under Sectoon 14515llbl of the ACL Independenl exarninrf55tatemurt Sinte your charity's gross income eXce￿ed £2￿.[mI0 ywr eyAmirEr must be a rnern1￿r (rf a listed L¥>Jy. I can confirm that l am qu31itied to undertske the examination tecau5e l am a w*mber of the AssociaEion of Chartered Certrfied kcountsnts. which is one of the listed bodie5. I have ¢￿pIeted my examinatiorL I confimi that ro material matters h￿￿ to my atter￿on in ccfinecbon with the examI￿tion yving rne cause to trElieve thattn aThy material resFect: ccounting record5were not k2ptin resfv of tlE Tnjst a5 required ty Section 130 of tPe A¢. or the accounts do not accord ￿1th tknse rec¢yds; the accounts do llot iornptywith Ihe app￿iCable Tffju*ernentscorKerninethe ard content of accounts set (xjt in the CharitSes (Accounts and Reports) Regulat￿rts 2[￿ other than any requirement that the ￿cOUnt5 give a true and fairwewwhich ￿ r*)t a matterconsidered as part of an iTrJerendent examination. I have no COn￿rn5 have come au055 no other matter5 ITh Connection wth the examination to which ètt2ntion Shou￿ be drawn inthts rewTrrt in orderto enable a p[(yerundÈr5tand￿g of the accounts to be reèchÈd. mon Welll Certified Accountsnt Haines Watts Town Wall House BJlkerne Hill Colchester Essex C03 3AD 28 Ortob2r 2024 THE MARY HATCH ALMSHOUSES WITH DIAMOND JUBILEE COTTAGES STATEMENT OF FINANCIALAcnviTIES FOR THE PERIOD 24 APRIL2013 TO 30 JUNE 2024 Unrestricted funds Restricted fund5 Total funds Notes INCOME ANO ENDOWMENTS FROM Charf(able activities Alrnshou5e act￿lty 17.540 17,540 Investment income Other income Introduttion offunds 1.310 L310 1,102.387 139.676 1,241063 Total 1,121,287 139,676 1.260.913 EXPENDITURE Charitable attivlties Alrnshouse actwity 16,891 14891 1.104.346 139,676 1,244,402 Netgains on investments 9,251 9,251 NET INCOME 1,113,597 la9.676 1.253,273 Other recognlsed galns/llosse51 Gains on revaluation of fixed assets 20A51 ZO,451 Net movement In funds 1,134,048 119,676 1,273,724 TOTAL FUNDS CARRIED FORWARD 1.134.048 139,676 1.273.724 CONTINUIN6 OPERATIONS AJI income and expendrture ha5 arisen from continuing artfvitles. The notes fortn part d these finèntial statements THE MARY HAT(11 ALMSHOUSES WITH DIAMOND JUBILEE co￿AGEs BALAN(S SHEET 30 JUNE 2024 Unrestricted funds Restricted funds Total funds Notes FIXED ASSETS Tangible a55ets Investments 903,246 193,843 139,676 1.041922 193,843 1,097,089 139,676 1,236,765 CURRENT ASSET5 Stocks Debtors Cash èt bank li 200 2,993 38.353 20D 2,993 41.S46 41,546 CREtJlTORS Amounts falllng due wlthln one year 14,5B71 14,5871 CVRRENT A55Ers 36.959 TOTAL ASSEfs LESS CURRENTLIABILITIES 1,134,048 139,676 1,273,724 NEfASSETS 1,134,048 139,676 1273.n4 FVNDS Unrestricted funds Restrlcted funds 14 1,134048 139,676 TOTAL FUNDS 1,273,724 The Iinèncial Statements were approved by the Board of Trustees and authorlsed for Issue on 24 October 2024 and were slgned on It5 behall by.. J Bu11m4n Trustee Truste2 The riotesfomi part of these flnanclal statements THE MARY HATCH ALMSHOUSES wrtm DIAMf*4D JUBILEÉ COTfAGES NOTESTO THE FINANCIAL STATEMEKrs FOR THE PERIOD 24APRII 2023 TO 30JU14E 2024 TRANSFER OF ENGAGEMEN15 On l January 2024 the actwities, a55ets. lia￿lItIeS funds and reserves of Mary Hatch AJmshou5es with Diamonds Charlty (Charity Resistration Number 2703721. referred io In I￿se nnèndal statements as "dd charty.. trnnsferred to ihls Charity. ACCOUNTJNG pouaES 805￿ of preparinz thefinanckgl statements The charity £￿stituteS a put4k benefit ertity as defined by FRS 102. The a¢counts have wepared ccordance with Accountln8 and Repo￿nI ty Charittes.. %aternent of Recommended PrtyrtKe 150RPI applicable to charities prepann8th*r accounts in X(￿daNCe with the Pihancial Repo￿n8 Standard applicat4e in the UK and Reput4K cl Ireland ￿Ued in October 2019, the hnancial Reporting Standa¥d applicable in the Unlted Kln8dcAn afid Repujjk of Ireland IFRS 1021. the (harftles kt 2011, and UX Generally Accepted A£(￿ntIng Practlce. The 4¢counts ale prepared hISt￿1(al cc6t xtountlng rules except that that freehold prOper￿eS are Induded at valuatson and investm¢fits are irKlyded •t their market value. Whllst thls ch¥lty Is a Reglstered Soclal Htyjslng Prollder f￿10￿Nd the lssye of new SORPS for b)th Charltles and Re8lstered Prowder5 aP￿kable for accountiTr¥ peric*Js commendry on or after l January 2015, these accounts •re prep•red irt •ccordJrre wth the appltable Charity SC*tP 5irKe its k¥inOp•l act￿1￿¢5 are not 8overned bythe Landh)rd and TersaThts kt 1985 arKI are forcharitab￿ purposes. Fund Accountl Unrestrlcted funds are avalaNe to spend on actitle$ that lurther arw of wrwses of Charty. Des+gnated funds èr¢ unrestrfcted fvnds of the charfty wh*h the trustees have declded at thelr d15cret1￿ to set aslde tp use lor a specific purp)se. Restdcted fvnds are fuThJs wfrich the ha5 speofied •reto be solely used for partkular wwe. 6oln8 ¢C￿(eM The occount5 We wewred on • ¢(*n8ton¢em bwls as tPerE •re m•teiial utK¢rtalnWe5 about the Ch•rlty'S •blltyto contlnue. Intome All SrKome Is recouised In the Ststement of FIna￿l81 Athvrties onte the eharity has entldemerrt to funds, It Is probable that the IrK0￿￿ will ￿ recew and the amlwnt can be meayjred rellably. Income from government and other grant¥ whether'captsf grants cf 're¥￿Ve, Ernnts. Is recognlsed when the Charity has entl￿ernent to the arry FerformarKe 0)￿41t10￿5 ottsched to grants have been met, It Is Pro￿ble that the In¢LYne wlll ￿ rece44*d and the arnrvjthican be meagjred relIablyar￿ ts not deferred. For legacies. enfjtlement Is taken as the earlier ol date on whkh ether.. the Charlty is aware that probate h35 been granted. the e5tste been fiwlised and nLXific¥tson has ￿en made by the executorlsl to the Charity that a d1stritwt1￿ will be madt, or v4hen a distribJiKJn is reCei￿d the estste. Donatk)ns and DthÈr volurttsry lrtome are reflected In theaccounts for the perhxl In whlth they are recefved. DonatSons In kind are reco8nised ty the (harity whEn recewed except in the use UF semces k¥o¥ided free ¢* undervèlue byvo¢untary5taff or othu5 whkh a￿ not ref*cted in Kcounts. Inte￿$1 Recefved Interest on funds held on JEFwt 15 induded when re(eivaWe ar￿ atmunt can be rnea5ured rella￿ ty the Charity.. thls ts nomalty upon notshcatlon of the Irrtervst pafjd crf payatle by the Ban THE MARY HATCH ALMSHOUSES WITH DIAMONO JUBILEE COThAGES NOTES TO THE FINANCIAL STATEMENfs- continued FOR THE PERIOD 24APRIL 2023 TO 30 JUNE 2024 ACCOUNllNG POLICIES- contlnued Expenditure Liabilities are recognised as exFEnditure as 500n as there is a legal or constructlve obligation commSttlrÉ the charrty to that expenditure. it is probèile that a transfer of eEonornic benefits will be required in Settlement and the amount of the obligation can be me8sured reliaidy. Expenditure is accounted for on an accruals basls nd has ken classified under he￿ling5 th3t 3ggreg3te all cost related to the category. Where costs cannot be direttly attrIL￿ted to particular headlngs thèy have been allorated to activitie5 on a basis tonsistent with the use of resources. Rep3irs and Maintenance of Propertles The charges in the Statement of Finanaal Activities in respect of Cyclical Maintenance and Extraurdinary Re￿IrS rEflect the Trustees, ton5tant concern to keepthe propertie5 in good conditlDn, and ère in accordance with the Almshouse Associ8tia)s' recommendation that Almshovse Charities should set aside each year 5petific surns in this respect Tr3nsFer5 are made from Revenue Reserve each ye3r to the Extraordinary Repair Reserve tc cover extraordinary repairs as tPEy arise and to the Cyclical Maintenènce Reserve to cover repairs which arise on a cyclical basis. 5LSPPOrt Costs The CharitWs governance costs are allocated entirely to the Almshouse Costs since 5UFPQrt costs relating tri other activities are considered immaterial. Tanglble fixed assets Hwsing Properties The housing properbes are included in the a¢counts 8t their insurance reinstatemÈnt value. Addltions after each revauatlon are Included at cost untll a further revaluatlon. The c05t of refurbishment and irnprovements to the exlsting propÈrty are written off to Revenue Reserve a5 Incurred. Any major Imwovementsor exten51ons to the property are capitslised. Revaluations are perforrned with sufficient regularity to ensure that the carrying amounts are not materially misststEd ènd on thls ￿sIS arÈ not depreclated. Stocks Stocks are valued at the lower of c05t and net reallsatAe value, after making due 811owance for cJJsolete and slow moving items. Investments Investrnents are shown on the Balante Sheet at their mèrket Value. Change5 in market V31ues during an èccounting period are reflected in the accounts as unrealised gains or losses. Upon dlsp05al of an investment the difference between orieinal cost and di5POsal proceeds is reflected in the accounts 8s a realised Bain or loss and an adjustment Is made to Un￿311$ed gains C￿ losses to reversÈ unrealised movements in value in earliÈryears. Debtors Contributions and other debtor5 are recosni5ed atthe settlement amount due. Prepayments are valued at the ?mount prepaid netof any trade discaunts dut. Cash at Bank Cash ar bank and cash In hand Includes cash and Short term highly liquid investments with 8 shcrt maturlty of three months or le55 frorn thedate of acquisition or opening of the depcsTt or similar account. THE MARV HATCH ALm￿ouSEs WtTH D]AMaYO JUBILEE COTTAGES NOTESTO THE FINANCIALSTAIEMENfs-continued FOR THE PERIOD 24APRII2023 TO 30 JUNE 2024 ACCOUNTJNG KAlaÉ5- (ontknue Credilor5and Provi5ion5 Creditors and pr(Ni5ions ore reccfni5ed where the Chority has a present obN8ation re￿j￿ng from a past event that will pTo￿bty resuh In transfer of lunds to a third party and the amount to 5etde obligation can te measured or estimated rellat4y. CredrtC￿S and are nomially ieclydnlsed at thelr settlemenr omount after allowingfor ￿ytrade d￿counts due. Taxatlon The chwity i5exemptfrcffi tax ￿ Its charltstle acbvlllts. INVESTMENT INCOME DIv￿end Income COIF deposh accojnt Interest L273 37 1.310 INCOME FROM CHARifABLE ACTMTIES Almshouse Art￿ Contrlbutlons rece￿able Losses Irom vacandes 19,388 1,84BI 17.540 CHARITA8LE ACTMTIES COSTS JPFtyJrt cosis (see note 71 Costs (see note 61 Totals Alm$h￿Se ¥tMty 6,334 10,557 16.891 THE MARY HATCH ALMSHOUSES wrrH DIAMOND JUBILEE COTTAGES NOTESTO THE FINANCIAL STATEMEwfs- contlnued FOR THE PERIOD 24 APRIL 2023 TO 30 JUNE 2024 DIRE￿C0sT5 OF ￿ AR￿ABLE A￿1VITIEs Vacant property costs Insurance 232 443 1,606 794 3.538 390 171 174 11,0141 Repair5 and maintenance Gardening Sundry expen5e5 63d debts 6.334 SVPPORT Cosrs Governan Costs Management Totals A1rn5hou5e 4ctivty 4.613 10,557 SupkK>rt Costs, included in the above, sre a5follows= Almshouse ctivitv Clerk fees Subscription5 Indepèndent examination fees Accountancyfees Legèl and profe55ional fèes 4,270 343 200 940 4.804 10,557 YRUSTEES. REmUNERA￿oN AND BENEFITS There were no tW5tees' remuneration or other benefitsforthe period ended 30June 2024. TnJ5tee5' expen5e5 There were nc trustees. exF*nses pald for the period ended 30June 2024. -io- THE MARY HATCH ALm￿ouSE$ wrfH DIAMOND JU81LEE COTTAGES NOTESTO THE FINANCIALSTATEMENTS. continued FOR THE PERIOD 24 APRIL2023 TO 30 JUNE 2024 TANGIBLE FIXED ASSEIS Housing properties COST OR VALUATION At 24 April 2023 Revaluatlons 1.022.471 20,451 At 30June 2024 1.042.922 BOOK VALUE At 30June 2024 1.042.922 The housing properties are stated at valuatlon, being 3t their Insurance reinstètementvalue as at 30June 2024 £1.042,922 whichthe trustees considerto be indicative ol the fair value as at 30June 2024. Cost or vèluatlon at 30JurÈ 2024 Is represented by.. H￿sIng properties Accumulated revaluation gain5 Cost 809,787 233,13S 1.042,922 io. FIXED ASSET INVESTMENTS Listed Investments MARKET VALUE At 24 April 2023 Additions Revaluations 178,777 5.815 9.251 At 30June 2024 193,843 BOOK VALUE At 30June 2024 193.843 Therewere no inve5trnent a55etsout5ide thp UK. -li- THE MARY HATCH ALMSHOUSE5 WtTH DIAMOND JUBILEE COThAGES NOTESTO IHE FINANCIALSTATEMENfs- continued FOR THE PERIOD 24 APRIL 2023 TO 30JUNE 2024 io. FIXED ASSEfiNVESIMENTS- comlnued C05t or valuation at 30 JurE 202415 represented by.. Listed Snvestments Accumu&ted revaluation gains C05t 72.813 121,030 193.843 ii. STOCKS Stock of heating oil 2(Kl 12. DEBTORS.. AMOUNTS FALLING DVE WITHIN ONE YEAR Contributlons In arrears Prepayments and accrued income Z,985 2.993 ia. CREDITORS: AMOUNTS FALLNG DUE wfrHIN ONE YEAR Contributions retÈived In ad￿nce Trade creditors Accru315 and deferred incorne 1,108 1,834 1,645 4,587 -12- YHE MARY HATCH AiM5HOVSE5 DIAMOND JLIBILEE COThAGES NOTES TO THE FINANCIALSTATEMENTS- contlnued FOR THE PERIOD 24 APRIL 2023 TO 30JUNE 2024 MOVEMENT IN FUNDS Net movement In funds Transfers between funds At 30.6.24 Unrestrfcted funds Revenue Reserve Cycllchl Malntenance Reserve Extr8ordlnary Repair ResErve Housing Property Revaluatlon Reserve 180.329 63,622 80,310 809,787 113,2461 9,562 3,6B4 167,083 73,184 83.994 809,787 ¥134.04B 1.134,048 Re5trlrted fund5 Social Housing Grant Fund TudorTrust Gront Fund 134,676 134,676 s,000 139,575 ia9,676 TOTAL FUNOS 1,273,724 J.273.724 Net movement In funds, Included In the 8bowe are as follows.. In¢cThlni resources Re50urce5 expertded Gains and lo55es Movèment In lunds Unrestrlcted lunds Revenue Reserve Cycllcal M#lntenan¢e Reserve Extraordinary Repair Reserve Housin8 Property Revaluation Reserve 189,750 66,313 75,838 789,336 111,2391 15,6521 1,818 2,961 4,472 20,451 180,329 63.622 80,310 809.787 I,IZl.237 116,8911 19,702 1,134,048 Re5trided tunds Soclal Houslng Grant Fund TudorTrust Grant Fund 134676 5,0 134,576 5.000 139,676 139,676 TOTAL FUNDS 1,260,913 16.8911 29,702 1.273.n4 -13- THE MARY HATCH ALMSHOUSESWITH DIAMIJID JUBILEE COThAGES NOTES TO THE NNANCIALSTATEMENTS- cC￿l￿ued FOR PERIOD 24APRIL 2023 TO 30JUNE 2024 14. MOVEMENf wi FufiDS. contnwed Sor￿1 Housing GTrnt5 Fur The ScKial HDusing Grants Furbd isa restricted fund and ieryesentsgrants recerved of £82.447 for Th2 Diamond Jubilee Cottaees in ¢Onr*th￿ wtth the h(XJs1￿ property irnpr(p4ernents at ￿. 62 and 64 High Street. Wicken and £52,229 forThe ￿[￿ShOuSe5 of Mary Hatrh in coMertior¢ vAth t￿ ho￿n6 property improvements * 22, 24 and 26 North Street. w￿kerL TudorTru5t Grnnt Fund The Tudar TrustGrant Fund 15 a iestricted fund and represents a grant re￿iVed of £S.lJ)D for Ajmshouses of Mary Hatch in connection with the hovyng w0￿rtY irnprovernents at 22. 24 and 26 North Str2eL Wicken. Cycllcal Mairrtenance Reserve The Cyclic31 Maintenance ReseTht is unrestrirted but deY￿ated by the Trustees to c(wer the cost of tyclical repair5 a5 they arise. A tran51er to the resefft is m* each ye4r fr￿n R￿ntse Rese￿ of a speufic mount aueed by theTrosrees. EKrraordinary Repair ReseNe The E*craordinyy Repair Reserve is unrestrirted but ￿e￿nated lry the Trun510rthe peric#J end2d 30JLme 2024. 16. LEGISLATIVE PROV1510NS The Charity is re￿stered wlth the Charlty Comrni55h)n as a Charitsble IncorKKnOon Organtsat*)n, the Regulator of Social Housing lor¥inally ihe Housing Corporationl as a Registered Prowder of Social Housing and with the National A55￿1￿tion of Alm5￿MISES as è Rwstered AlmsFv)use (harity. -14- THE MARY HATCH AiM5HOUSES wm4 DIAMOND JUBILEE co￿AGEs DETAILED STATEMENT OF FINANCIAL AcnviTIES FOR THE PERIOD 24 APRIL2023 TO 30 JUNE 2024 INCOMEAND ENDOWMENTS Investment incorne Dividend income COIF deposSt account Interest 1.273 37 1310 Charttable aetlvltles Contrlbutlons recelv3ble Losse5 from vacancle5 19,388 17,540 Oiher Income Introductlon of fuTrJs 1,242,063 Total IncomlnR r•sourtes 1.260,913 EXPENDITURE Chorttable èctlvltles Vacant property Costs In5uran¢e Central heatln8 011 Repair5 and malntenèn¢e Cyell¢al repalrs Gardenlr8 Careline Sundry expenses Bad debts 232 443 794 3,538 390 171 174 6.534 Support ¢ottS Management Clelk fees Subscriptions 4270 343 4,613 Govemance costs Independent examlnatlon fee5 Accountancy fee5 Legal ènd professlon31 fees 20D Total ￿￿urCeS expended 16,891 Nei IrKome 1244.02Z This page do2s n(rt form part of the statutory financial statements -15-