DUNK'S ALMSHOUSE CHARITY A CHARITABLE INCORPORATED ORGANISATION CHARITABLE REGISTRATION NO 1203952 FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 December 2025 DUNK'S ALMHOUSE CHARITY A Charitable Incorporated Organisation (Charitable Registration No 1203952) FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 December 2025 INDEX PAGE Legal and Administrative Inforniation Tru5tees' Report Independent Examiner's Report Statement of Flnanclal AttNiues Balance Sheet Notes to the Financial Statements Income and Expenditure Account Dunies Almshouse Chartty A Charitable Incorporated Organisation Legal and Administrative Information Trustees Following a resolution dated 23 April 2013 the intention is for there to be eleven trustees. These would con51St of.. One Ex.Officio Trustse - ixing the viar for the time bdng of the Parish of Hawkhurst (but the vlcar has resigned from the Board of Tru5rees wlth effect from S August 2022 and has not been repl￿ed). Five representitiye Trustee5 . being appointed by the Parish Council of Hawkhurt Three COwOPtative Trustee5 - being persons residing or carrylng on business In or near the Ancient Parish of Hawkhurst. The Trustee5 who have Served during the year were: Mr N CclliJon Mrs S Ccrnish Mrs J Faulkner Mr C Faulkner Miss E C Roberts Mrs G Cinnon Mrs H Van Kan Mr C C Holxlay R•pr•s•nt*tive and Chiirrnan Representative Co.optatbve C<>optative CfroptAtive (resigned 31 December 2025) Representatiye Representative Representative Treasurer Principal Office Clerk tt) Trus￿5 Miss M Sandys Dunks Offi Flat 5 Dunk'$ Almshouse Rye Road Hawkhurst Kent TN18 4HF Bankers Barclays Bank plc Ashford Brnnch 66 HEh Street Ashford Kent TN14 8TL Solicitor Buss Murton LLP Clermont House CRANBROOK, Kent Indeptndent Examiner Mccabe Ford Wllliams Bank Chambers High Street CRANBROOK TN173DN Kent TN173EG Page I Dunws Almshouse Charity A Charitable Incorporated Organisation Trustees, Report Incorporation As A Charitable Incorporated Organisation A new Chartcable Incorporated Or8anisatSon, Dunk's Almshouse Chaiity was reglstered on 12 July 2023. A resolution was passed on 3 August 2023 that all the properry and assets of the Dunk's Almshouse Charity (Charltable Registration No 240563) be transferred to the formed Charitsble InCorpora￿d Organisation I'CIO,), Dunk's Almshouse Charity (Charitable ￿e￿$tratiorI No 1203952}. This transfer took place on 3 August 2023. Objects Of The Charlty The objects of the Charity are to provide accommo&tion for poor persons of good characcer who (except in special Cases to be approved by the charity commission) have resided in the area of the Ancient Parish of Hawkhurst for not less than Ixo years prior to their appointment The charity vrds established by the Will of Sir Thomas Dunk dated 8 July 1718 by which he ueathed land at Hawkhurs( Kent on which he directed that a building should be eretted wth moncy dlso bcqutxthed by him to comprieè Éix alm8hou8w. a School 2nd 2 5choolrn*stèr'# housa to be administered by trustee5 as described in his will. The building was eretted after his death by his executor 2nd the chariry ￿d5 orgnised in accordance his directions. The building wa5 extended in the 19 century to provide more space In the almshouses. By an Order of the Charity Commission dated 19 Augus¢ 1904 the iydrt of the Charity comprising the almshouses separated from the part held for educational purposes, the two charities to be henceforth called Dunk's Almshouse Charity and Dunk's Educational Foundation respettively. Dunk's Almshouse Charty (including another charity called Springett's Eleemosynary Donation) are now governed by a Scheme made by the Charity Commission dated 15 February 1916 u Ydried by Scheme dated 25 September 1970. The Governing Document used at establishment of the Charity has been carried across on the formatyon of the Charitable Incorporated Organisarion on 12 July 2024. In 1969170 the six almshouses together with a part of the buildi￿ which was leased to Dunk'5 Amshouse Charity by Dunk's Educational Foundation by a lease for 99 years from l June 1970, were converted into eleven modernised almshouses. In 1991 Nation￿ Westminster Bank PLC donated to the Trustees of Dunk's Almshouse Charity a piece of adjoining land to be for the purposes of the Charity and upon the charitable trusts applicable thereto. Four bungalow5 were built behind the original almshouses over the period from l January 1998 to 31 DKember 2000. From 20 January 1998 the Charity is a R￿strred Soclal Lantjlord under the Housing Act 1996 Page 2 Dunies Almshouse Charity A Charitable Incorporated Organi5ation Trustees, Report Continued Organisation The TrL¢Stees who served during the year are set out on page one. The Repre5entstiYe Trustees are appointsd by the Parish Council and the CovOPtatNe Trustees are people residing or carrying on a business in or near the Parish of Hawkhurst. The trustee5 meet quarterly. Reserves Policy It Wds the poliq of the charity to bulld up the Extraordinary Repalr Fund to a tsrget of £200.000 by 2017, to provide Sufficient funds to deal with a major emergency, such as a fire wth consequent costs of rehousing the residents during a period of repair. The Cy¢li¢al Maintenance Fund should be maintained at a level to adequately cover the budgetsd maintenance costs for the forthcoming year, while the General Fund should be maintained at a level to adequatsly cover the ￿dgeted costs. excluding the maintsnance costs, for the coming year. At the year end the balance on the Extraordinary Repair Fund stood at £381,695 and the Cyclical Maintrnance Fund at £49,440, Risk Manag¢m¢nt The Trust￿ have assessed the major risks to which the charity is expDsed, in particular those relating to the byilding* operations and finances of the charity and are satisfied that sY￿rnS are in place to mitsgate their exposure to the major risks. Public Benefit The Trustees confim that they have referred to the guidance contsined In the Charity Commlssion's general guidance on public benefrc when reylewing the Tru5rfs aims and objettiYe5 and in planning fvture activities. Statement of Trustees, Responsibilities Charity law requires the Truste&s to prepare financial rtatements for each financiil year which biye a true and falr view of the affairs of the Charity and of its financ1￿ activities for that period. In preparing those financial ststement4 the Trustses are required to.. - selett suitable accounting policies and appty those policies consi5tendy', b) rnake judgements and estymaw that are reasonable and prudenE state whether applic2ble accounting standards and statements of recommended Prydctyce have been followed subject to any departures disclosed and explained In the fin74ncial statements., d) Pre￿are the financial s¢4￿ments on the golng concern basis unle55 It is inapproptiate tr) presume that the charity wlll contynue in operation. The Trustee5 are responsible for keeping proper accounting records which disclose with reasonable aCc4J￿￿ at any time the financial posioon of the Charlty and to enable them to efiSU￿ that the financial statements comply with the relevant prowsions of the Charitie5 Act 201 l. They are also responsible for ￿feguardIng the a￿ets of the charity and, henc4 for taking reasonable steps for the preyention and dete¢oon of fraud and other irregularities. Page 3 Dunk's Almshouse Charity A Charitable Incorporated Organisation Tru5tee$' Report Continued Review of The Year and the Future Dunks Alm5hou5e Charity held a good and stable financial posltion throughout 2025. This is despite unstable utility costs and ongolng maintenance of the residential properties and Communal areas. Dunks Almshouse Charity was the beneficiary of a "grant" 20+ years a80. £2.079 of which wa5 paid back on 19 January 2026, with the remaining £81,000 the subjett of a Deed of Covenant (ongoing transaction, expected to conclude in Q2 2026.} Thi5 is part of ransittoning to the CIO (incorporated charity). Trustee Nigel Colllson Trustee C Hobday Date: Page 4 Dunies Alm$hou5e Charity A Charitablt Incorporatsd Organisation Independent Examiner's Report to the Trustees of the Dunk'5 Almshouse Charity We report ¢n the accounts of the Trust for the year ended 31 December 2025, which are set out on page5 1 to 12. Respertive responsibilides of trustees and eJtamln•r As the charity'5 trustees you are responsible for the preparation of the accounts., you consider that the audit requirement of section 144 of the Charities A¢¢ 2011 (the Att) does not apply. It Is my responsibility to examine the accounts (under section 145 of the 201 l Act, to follow Pro￿dureS laid down in the Generdl Direttions given by the Chirity Commissioners under secuon 145(51{b) of the 2011 Art and to stats whether particular matters have come to our attention. Basis of independent examinerfs report My examination was 3) 31991 Tnthrl lund* Tranthrts Cydl¢>l Trtn￿erts extyawdl￿ry Fur 19,433 Not M(wwnwtknFuttdi I￿743) (2,4851 1.945 {12A33) 31991 7othllundsbrw￿*frJryA￿1 164J114 sI.YAs 853.85fl ¢yd•d lorward 161,195 341.695 49J40 149,088 841,417 853,851 Durtk'5 Almshouse CharEty anfe Sheet A5 at 31 December 2025 Permanent Endowment Fund Extraordinary Repalr Futs)d Cy¢li¢ Gentr*l Fund To 31.12.15 Total Fynd 31.12.24 Not¢ Fw¢hold Property Cost Less Social HoLsing Grant 239,153 (81,154) 157,999 239.153 {81,IS4) 157,999 239.153 155.920 InvostrnÉnts 103,196 381.695 49.440 534.330 550,787 Flx*d A$8*ts 261,195 381,6gS 49.440 692.329 70&707 urr¢rrt A55ets Debtor5 and Frepayments COIF Deposit Curren¢Account & cash 2,734 147,569 16,695 166.998 2,734 147,569 16,695 166.998 3,771 106.581 40.142 150,495 Current Liabilities Creditor5 17.ylo 17.ylil J.351 Net CurrentA55et5 149.080 149,088 147,144 Net Assets 261.195 381.695 49,440 149.088 853A51 Funds PermRnp.nt EndowmÈnt Fund Exrr30rdirHry Repair Fund Cyclical Fund Gened Fund 161,19S 2é1.195 381.695 49,440 149.088 941,418 264.304 390,478 51,925 147,143 853,851 381.695 49,440 149.088 149.088 261,195 381,695 49,440 The financlal ststements haye been prepared in accordance the req￿rements of FR5102 and ofthe Statement of Recomtnended Practice, Accoun￿n8 and Reportyng by Charitie Approved ty the Trustees SIBned Nigel Cdllson Slgned Colln Hobday Dated.. PaEe 7 Dunk's Almshouse Charity A Charitable Incorporated Organi5ation Notes to the Flnancial Statements for the year ended 31 December 2025 I. ACCOUNTING POLICIES Basis of Preparation These iccounts Combine the accounts of all fund5 which are governed by the terms of the order dated 15 February 1916. They have been prepa￿d on the accruals basis and include item5 of income and expenditure as they are earned or incurred, nther than as cash is recelyed or F4id. The accounts are prepared in accordance wth the provisions of Settion IA "Small Entities" of Financial Reportyng Standard 102 'The Financial Reporting Stsndird applicable in the UK and Republic of Ireland" and the Statement of Recommended Practice "Accountyng and Rep)rting by Charities" 2015. They have been prepared under the historical cost convention except for inwtments which are carried at market Wdlue. The accounts are stated in £. Transfer to a Charitable Incorporated Organisatlon A new Charitable Incorporated Owdnisation, Dunk's Almshouse Charity was wstered on 12 July 2023. A resolution vfas passed on 3 August 2023 that all the property and assets of the Dunk's Almshouse Charity {Charitable Registration No 240563) be transferred to the nevly formed Charitable Incorpornted Organ15ation, Dunk'5 Almshouse Chartty (Charitable R￿stratiOn No 1203952). Thi$ transfer took place on 3 August 2023. Fund Accounting The Charlty'$ Permanent Endowment Fund comprises the OTibTnal land ind buildings together wtth subsequent idditions and certain investments. The Charity's unrestrictsd fijnds consist of fund$ which the charity may use for its purposes at Its discretion. The Charity has $e¢ aside certain sums in designated funds as follows: Cyclical Maintenance Fund Funds Set aside by the Chariry to coyer repairs and maintenance of the properties necessary at irreguPar intervals. This is maint&ned co meet the next yeads annual rnaintenance. Extraordlnary Repair Fund Fund5 set aside by the Charity for future major works, improvements and repla￿ment expenditure. Page 8 Dunkys Almshouses Charity A Charitable Incorporated Organisation Note5 to the Financial Statements fi)r the year Ended 31 December 2025 Fixed Assets and Depreclation Fixed assets ire valued at the c05t of land and buildings incurred by the Chariry. No value is Included for the original land and buildings bequeathed to the Charity or subsequent &Tfts prior to the introduction of the charities SORP in 1995. The land and buildings are conside￿d to be inalienable and to have an Indefinitsty long useful life. An annual provision Ss made for maintenance and repairs but depreciation is not provided on the grounds that the annual charge and accumulated fund would not be material. The social housing grant Is shown as a deduction in accordan￿ with the Genernl Deterriiination 2006 for Registered Soaal Landlords. Investments Investments are included in the accounts at market value. Investment Income Dividends are credited in the accounts when received and credit is tsken for interert when it fa115 due. Administration Expenditure Administration expenditure comprises all costs incurred In running the Charity and are recwised when a legal and conscructive obligation is e5tsblished. Going concern The trustees consider that there 1$ no maTrrial uncertainty relating to going concern and conslder that the Charity is in a posiuon to meet its financial obtisations as they fall du& 2. INCOME AND EXPENDITURE 31.12.25 31.12.24 Maintenance contributions receivable in the year £104.643 £99,370 Arrears due on 31.12.25 There were no service charges or revenue grants received In the year. There were no mairrtenance contributions losses during the year. Page 9 Dunk's Almshouse Charity A Charitable Incorporated Organisation Notes to the Financial Statements for the year ended 31 DÈcember 2025 2. INCOME AND EXPENDITURE (continued) Accommodation in Management At 31 December 2025 there were eight double and seven single flats owned and managed by the Charity, of which 14 were housing accommodation units. One single flat ha5 been convert8J to provide laundry facllityes and Offi￿ facilitie5. Income is recorded when due. Employees There were two employees during the year with one clerk retiring and being replaced by another. No trustee5 received any remuneration durlng the year. 3. FIXED ASSETS Freehold Properry Cost brought forsydrd at l January 2025 Additions in year 31.12.25 31.12.24 239.153 239,153 Cost carried for%Ydrd at 31 December 2025 £239,153 £239,153 4. INVESTMENTS 31.12.25 31.12.24 Endowment Fund 5340.89 COIF Income Shares 103,196 108,384 £103,196 £108,384 Extraordinary Repair Fund 2.032.19 COIF Income shares 1,34Q.05 COIF Accumulation shares 39.266 342,429 41,240 349,238 £381,695 £390,478 31.12.25 31.12.24 General Fund 1558.73 COIF Income shires 49,440 51,925 Page 10 Dunies Almshouse Chartty Notes to the Financial Statements for the year ended 31 December 2025 S. RELATED PARTY TRANSACTIONS Dunk's Educational Foundation (Charity Number 1204336) is under the control of the same Committee ol Tru5tses. During the year Dunk's Edu¢a¢ional Foundation charged Dunk's mshouse Charity £12,118 in rent for 3 flats {2024: £12,514). In addTtion, some charyes made to Dunk's Almshouse Charity are recharged to Dunk's Educational Foundatyon. At the year end Dunk's Educational Foundation owed Dunk's Almshouse Chartry £nil (2024: £3,038}. Payments totalling £47,519 were made in the year to Mr C Faulkner who 15 a Trustee of the Charity. These were approyed by the building sub-committee and Mr Faulkner did not participate in the Yote. k is regarded to be open market value for the work performed. Payments totalling £787 for cleaning 5erYices were made in the year to Mrs J Faulkner who is a Trustee ol the Lhariry. It 15 ryrded to be open rnarket value for the work perfom)ed, 6. TRUSTEE REMUNERATION AND EXPENSES No truTrs have been paid remuneration or expenses during the year. Page 11 Ounk's Almshouse Charity Income and Expenditure A¢count For th* Year ended 31 Dec¢mbeT 202S Permanent Extraordlnary Endgwment Rep￿￿ Fund Fund Cyclical M￿ntenanCe Fund G¢neral Fund Total 31.12.25 To Jl.12.24 Turnover Donations Maintenance Contriburjtrns 104,643 104,643 104,643 104.643 ,370 99.370 Le55 Oporatlng Costs Rent pld Cydlcal malntenanct Other maintenance Gard￿l￿g Extraordinary m￿ntenanCe 19,433 19.433 35.329 615 5,860 29,102 852 35,129 Water & sewerage Insurdnce 4,690 4.050 4.690 4.050 3,477 4.214 Trustee Insurance 2nd plprrrlrlty AccountancylAudlt Professlonal fee5 Cleanlng Qerws fee$ and expwYe5 Office costs Soclal ac¢Mde5 Other 21,024 1,2C 1,100 505 9.784 1,460 1292 394 1,460 2.292 394 1,880 2,?10 2,484 92.174 2210 1,603 19,433 111,606 98,136 Operatlng Surplu5 19.433 12,469 6.963 1,234 ProlltlLos5 on sale of lnVestrn￿ts RePa￿￿en¢ of Sodal Housing Grant Interest recewaUe and other Income Surplu5 on ordinary actlyities before taxatlon Tax on surplus on ordinary a¢dvlJe5 Grant rec&Yable Wnst taxation Surplus lor tht year 2,079 2,079 10.987 6.103 10,987 23,457 10,399 2,079 119.4331 2.079 23.457 a103 Transf¥ro Cycllcal furvj Transfer ¢0 Extraordinary F￿d 19,433 {19,433) Unr￿l$ed rdIn￿(rOssesI on 1nYesrm￿rs 15,IB81 {8.7831 4861 1&457 21,358 Rtconclliition of Funds: R¢serves broughtforviard 264.304 390,478 51,925 147,143 853,850 820.860 Re5or¥•s ¢arded forward 381,695 49,440 543,496 853,851 The resulr forthe yEarr￿a￿ wholly to continulng attl￿des. 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