CHARITY COMMISSION FOR ENGLAND ANO WALES Trustees. Annual Report for the period From 6th April 2024 Period stsrt date To 5th April 2025 Period and dat• Charity name: The Matthew Smlth Almshouse Charity Charity registration number:1204496 Objectives and Activities SORP r8fer•nc Para 1.17 Summary of the PUTposes of the charity as set out in its governing document Provision of accornrn¢)dation to relieve financial hardship for persons over the age of 50, resident in the parish of the Amber Valley Council area through the provision of social housing in the form of Almshouses. The Social Housing aspect is a recent change agreed wrth the Charity Commission and an application to be included on the Register of Social Housing roviders is imminent Nov25 Provision of accommodation in the form of 6 prop8rties for the benefit of the residents. Summary of the main artivities in relation to those purposes for the public benefit, in particular, the activities, projects or Se1$ identified in the accounts. Statement confimiing whether the tTUStees have had regard to the guidance issued by the Charity Commission on public benefit Para 1.17 and 1.19 Para 1.18 Trustees have had regard to the guidance on public benefrt issued by the Charity Commission Additional infomiation (optional) You ma choose to include further statements where relevant about.. SORP referenc8 No statement Para 1.38 Policy on grant making No statement Para 1.38 Policy on social investment including program related investment No statement Para 1.38
Contribution made by volunteers Other Achievements and Performance SORP reference The Charity has maintained d81ivery of quality accommodation for six residents over the past year. One resident left the accommodation in Autumn and this place has now been filled maintaining the Charity's commitment to serving the poor in the Amber Valley Borough Council area. Summary of the main achievements of the charity, identifying the difference the charity's work has made to the cirCumstanS of its beneficianes and any wider benefits to society as a whole. Para 1.20 This report includes the perfomiance of Charity 236658 which is incorporated into 1204496- we note reporting against 236658 is not required as delailed on the Charty Commission website. Additional Infomiatlon (optional) You ma choose to include fvrther ststements where relevant about.. Achievements against objectives set No specific objedives have been set Perfoman¢e of fundraising activities against objectives set Para 1.41 Investment performan against objectives Para 1.41 Investment perf0mlan has been in line with market expectations. The value of the investment of reserves has slightly reduced from £427.6k to £418.Ok Other
Financial Review Review of the ¢harify's financial position at the end of the period Para 1.21 The Charity remains in a strong financial position. A £591 k improvement in the balan sheel reflects revaluation of Broadhurst House. Reserves are ma1ntsird covering 4 elements. Cyclical Maintenance Fund and Extraordinary Repair Fund reserves are at and above Almshouse Association recommended levels respectively. The ERF is maintained at a higher level than AA levels at the discretion of the Trustees cogniscent of the age of the buildings. Notwrthstanding the ERF reserve, investment in ERF activity for 24125 {¥vindows replacement) has been funded from the Cash account and reserves have not been affected. Statement explaining the policy for holding reserves stating why they are held Para 1.22 The Endowment is maintained as per Almshouse Association guidance and is invested for growth. The Trustees are developing proposals to utilise General Reserves through increasing the Charity's provision in conjunction. Developed of proposals are being reviewed with Almshouse Consortium re resentatives Sean Stafford Total reserves held are £1075k, the £591 k increase driven from the Broadhurst House revaluation. Not applicable Amount of reserves held Para 1.22 Reasons for holding zero reserves Details of fund materially in deficit Explanation of any uncertainties about the charity continuing as a going concern PAra 1.22 Psra 1.24 Not appSi¢able Para 1.23 Not applicable Additional infomiation {optionall You ma choose to indude further statements where relevant about: Funding is predominantly from Yekly maintenance charges from the Charity's Almshouse residents with minor additional income through Gift Aid donations, agricultural land charges and electricty wa leave The Charity seeks grovrth through appropriate low risk investments funds The charivs principal sources of funds {including any fundraising) Para 1.47 Investment policy and objectives induding any so¢ial investment policy adopted Para 1.46
The principal risk facing the charity is ongoing maintenance of the 4 units in Broadhurst House. A description of the prinapal risks facing the charity Para 1.46 Other
Structure, Governance and Management Description of charity's trusts: Type of goveming document Para 1.25 Charity Commission scheme How is the charity onstituted? Para 1.25 Charity is a CIO sinrR August 2023. Trustee selection methods including details of any constitutional provisions e.g. election to post or name of any person or body entitled to appoint one or more trustees pa 1.25 COopted Trustee candidates are interviewed by tsvo existing Trustees and their appointment ftjrther subject to trustees agernent through minuting accordingly. The Ex-officio trustee is the incumbent of St Peterfs Chur¢h albeil this position is Currently vacant. Two nominated trustees are appointees of Amber Valley District Coun¢il and Belper Town Council res ctivel Additional inforniation loptionall You ma hoose to include further statements bvhere relevant about.. Policies and procedures adopted for the induction and training of trustees Para 1.51 No statement The Gharity's organisational structure and any wider network with which the charity works Para 1.51 No statement Relationship with any related parties Para 1.51 No statement Reference and Administrative details Cha name Other name the chari uses istered charit number Charity's principal address The Matthew Smith Almshouse Cha ' nla 1204496 Registered office: PBS Solicitors. 35 Grosvenor Road. Ripl8y, DE5 3JE Correspondence address.. 110 SpenGer Road. Belper. DE56 1JW
Names of the charity trustees who manage the charity Dates actsd If notfor who Trustee namè Offic• Ilf #nyl Chair N¥m• of ptrr¥on lor body} entltled Dr Christopher Charlton OBE Bernard Holden Coaopted trustee Ctropted trustee Treasurer John Foulk From 13111124 Trustees Meeting Paul Htxlgson Frank Flegg Dith Watson C¢>opted trust8e Nominated Twstee {BTC) EXffici0 trustee Co-opted trustee Co-opted truslee Co-opted trustee Nominated Trustee {AVBC) CoThOPted truslee C¢>OPted trustee Ceased 1111125 Rev Anne Stratton Ceased 3019124 rim Gully Katie Harris 10 George Jones John Porter 12 Vickie Minion From 01105124 From 14105125 Trustee6 meeting Trustees meeting 13 George Henshaw 14 15 16 17 18 19 20 rate trustees - names of the directors at the date the re Dlraetor name rtwasa oved Name of trustees holding trtle to propety belonging to the Charity Tru•t¢• name Datss a¢tsd If not for wlyolo Christo her Charlton Bemard Holden
Funds held as custodian trustees on behalf of others Description of the assets None held in this capacity Name and objects of the charity on whose behalf the assets are held and how this falls within the custodian charity's objects None Details of arrangements for safe custody and segregation of such assets from the charity's own assets None Addftlonal inf0mtiOn {optbonal Names and addresses of advisers (Optional inforniatlon) Type of Name Address adviser Charity Legal Advisor Andrew Uprichard Carysfort. 1 Alexandra Road, Buxton SK17 9NQ Honorary Auditor Christopher Holden 1 Dallacre Drive, Wilbarston, Market Harborough LE16 8QS Name of chièf ex8cutiv8 or names of senlor staff meMr$ (Optional inforn)ation) Exemptions from disclosure Reason for non-disclosure of ke rsonnel details None Other o tlonal Infonnation None
Declarations The trust8es declare that they have approved the trustees. report above. Signed on behalf of the charity's trustses Signaturels) Paul Hodgson Full namals) Position leg Secretary, Chair, etc) Paul Hodgson Treasurer Date
THE Matthew Smith ALMSHOUSE CHARITY The Matthew Smith Almshouse Charity (A Charitable Incorporated Organisation) Report and Financial Statements For the Year Ended 5 April 2025 Charity number: 1204496 Company number: CE033363
Matthew Smith &.MSHOVSE CHARITY The Matthew Smith Almshouse Charity Report and Financial Statements for the year ended 5 April 2025 Administrative Inforrnation Registered Office.. PBS Solicitors 35 Grosvenor Road Ripley Derbyshire DE5 3JE Correspondence Address.. 110 Spencer Road, Belper, Derbys DE56 1JW Management Commtttee: Dr Christopher Charlton OBE, BA (Chair) George Jones Timothy Gully Katie Harris Richard Watson - Nominated BTC Rev. Anne Stratton - ex Officio (resigned 30 September 24) Bemard Holden Paul Hodgson (Treasurer) Frank Flegg (resigned 11 January 2025) John Porter- Nominated AVBC Vickie Minion (appointed 1 May 2024) George Henshaw (appointed 14 May 2025> John Foulk (appointed 13 November 2024) Legal Advisor. Michael Sayers Charity Legal Advisor: Honorary Auditor: Andrew Uprichard Christopher Holden Page12
THF Matthew Smith HARITY Objectlvos and Acllvltles The objective of the charity is to provide a¢¢ommodation for poor persons over the age of 50, preferentially resident in the Amber Valley Borough. The charity's activlties ¢onsist of the provision of ac¢ommodation in the forni of 6 properties for the benefft of the residents. The Trustees hav8 had regard to the guidanc& on public benefit issued by the Charity Commission. Achievements and Perfornianco The Charity has maintsined delivery of quality accommodation for six Sidents over the past year. One resident left Ihe a¢commcNJation in Autumn and this place has now b8en filled maintaining the Charity's commitment to serving Ihe poor in the Amber Valley Borough Council area. The Charity merged its operations with those of Matthew Smith's Almshouses (charity number 236658) which was completed on 4 September 2024. This report indudés th8 perfomiance of Charity 236658 which is incorporated into this organisation - we note reporting against 236658 is not required as detailed on Ihe Charity Commission website. Investmerrt perf0mlan has been in line with market expectations. The value of the investments has decreased from £427.6k to £418.Ok Flnancial Review The Charity remains in a strong financial position. The property which does not form part of the endowment has b8en revalued giving a balan¢e sheet total of £1.074,816. Reserves are maintained covering 4 elements. Cyclical Maintenance Fund and Extraordinary Repair Fund ('ERF') reserves are at and above Almshouse Association {'AA'I recommended levels respectively. The ERF is maintained at a higher level than AA levels at the discretion of the Trustees ¢ognisant of the age of the buildings. Notwithslanding the ERF reserve, investment in ERF activty for 24125 (windows replacement) has been funded from the General Fund and reserves have not been affected. The Endowment is maintained as per Almshouse Asso¢iation guidan and is invested for growth. The Tmstees are Still reviewing investment opportunities to increase the Charity's provision in conjunction with the Almshouse Consortium. InGome is predominantly from weekly Maintenan charges from the Charrty's Almshouse residents with minor additional income through Gift Aid donations, agricultural grazing licen and electricity utility wayleave. The Charity seeks growth through appropriate low risk investments funds Page13
Matthew Smith NSHOU SE C H A R I I Y The principal risk facing the charity is ongoing maintenance of the 4 units in Broadhurst House. Responsibilitie8 of the Management Commlttae Company law requires the Management Committee to prepare financial statements for each financial year which give a true and fair view of the state of the affairs of the charitable company as at the balan sheei date and of its incoming resources and application of resources, including incorne and expenditure, for the financial year. In preparing those financial statements, the management committee should follow best practice and.. select suitsble accounting policies and then apply them consistently" make judgements and estimates that are reasonable and prudent; and prepare the financial statements on the going conrn basis unless it is not appropriate to assume that the company will continue on that basis. The Management Committee is responsible for maintaining PFoper accounting records which disclose with reasonable accuracy at any time the financial position of the charitable company and to enable them to ensure that the financial statements comply with the Companies Act 1985. The Management Committee is also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. Structure. Governance and Management The Charity is constituted as a CIO registered in August 2023 with the Charities Commission. Co-opted Trustee candidates are interviewed by iwo existing Trustees and their appointment further subject to trustees agreement through minuting accordingly. The Ex-officio trustee is the incumbent of St Peter's Church Two nominated twstees are appointees of Amber ValKey District Council and Belper Town Council respectively. Declarations Approved by the Management Committee on 19th November 2025 and signed on its behalf by: Paul Hodgson (Treasurer) Page14
Matthew Smith Independent Auditor's report to the trustees of The Matthew Smith Almshouse Charlty I have audited the financial statements of The Matthew Smith Almshouse Charity for the year ended 5 April 2025 which comprise the Income and Expenditure Account, Ihe Balance Sheet and the related notes. These financial statements have been prepared under the historical cost convention and the accounting policies set out theIn. Rospective responsibllltlos of trustees and audltor As Trustees, you are responsible for keeping proper accounting records which ensure that the finan¢ial statements you are responsible for preparing comply with the relevant Acts. You are also responsible for safeguafding the assets of the Charity and for tsking reasonable steps for the prevention and detection of fraud or any other irregularities. My responsibility is to audit the finan¢ial statements in accordance with relevant legal and regulatory requirements and United Kingdom Auditing Standards. I report to you my opinion as to whether the financial statements give a tnje and fair view and are property prepared in accordan¢e wilh the requirements of the Housing Association Act 1985 and the Accounting Requirements for Registered Social Landlords General Determination 2006. My responsibilities do not extend to any other infom7ation. Basis of audit opinion I conducted my audit in accordance with United Kingdom Auditing Standards issued by the Auditing Practices Board. An audit includes examination, on a test basis, of evidence relevant to the amounts and disclosures in the financial statements. It also includes an assessment of the significant estimates and judgements rnade by the trustees in the preparation of the financial statements, and of whether the accounting policies are appropriate to the charity's c1rcumstsnS, consistently applied and adequately disdosed. I planned and perfomied my audit so as to obtain all the infofmation and explanations which I consider necessary in order to provide me with suffici8nt evidence lo give reasonable assuran that the financial statements are free from material misstatement, whether caused by fraud or other irregulanty or error. In fomiing my opinion l also evaluated the overall adequacy of the presentstion of infom)ation in the financial statements. Oplnion In my opinion the financial ststements give a true and fair view of the state of the charity's affairs as at 5 April 2025 of its Income and Expenditure for the year then ended and have been properly prepared in ac¢ordance with the requirements of the Housing Association A 1985 and the Accounting Requirements for Registered Social Landlords General Detemiination 2006. <n/ C.M. Holden 8Sc.{Hons) A.C.A. HonoraryAuditor l Dallacre Drive, Wilbarston, Market Harborough LE16 8QS 1 November 2025 Page15
Matthew Smith The Matthew Smlth Almshouse Charity Statemènt of Financial Activities {including Income & Expendlthr• A¢¢ount for the year ended 5 Aprll 2025 General Reserve 2025 2024 Turnover: Maintenance contributions from residents and larKI occupiers 29.226 27,999 Donations: 719 722 Operating Costs: seIces Management and administration Insurance Day to day maintenance Costs to set up new company DepreGiation of buildings 303 2,125 352 1,276 1,011 2,264 3,600 1,812 1,579 (6,786) (10,315) Transfers to R8serv8s: to Cyclical Maintenance Fund to Extraordinary Repair Fund to Endowment Reserve 20,685 7.293 120.6851 (7,293) Interest recelvable and other income Surplu81 (deficll) for the year 2,484 11.113 Balance brought forward 209,913 198.800 Balance carried ft>rward 212.387 209,913 The Charity has no r8cognis8d gains and losses other than those shown in the above income and expenditure account. The financial statements yre approved by the ManageTnent Committee on 19th November 2025 and signed on its behalf Paul Hodgson (Treasurer) Page 16
Matthew Smith The Matthew Smith Almshouse Charlty Balance Sheet at 5 April 2025 2025 2024 Fixed Assets Housing properties - Almshouses Investment land Investments 637,859 57,500 330,001 1.025.360 50,323 57,500 330,001 437,824 Current assets Cash at bank Net Current Assots 45,170 49,456 45,170 Net assets 1,074,816 482.994 Capital and reserves General reserve Cyclical Maintenance Fund Extraordinary Repair Fund Endowment Revaluation SerVe Endowment Reserve Revaluation Reserv8 212,387 6,777 41,804 57,500 167,000 689,348 209.913 6,777 41,804 57,500 167,000 10 10 10 10 10 1,074,816 482,994 The financial statements were approved by the Management Committee on 19th November 2025 and signed on its behalf Paul Hodgson reasUrer) Page17
Matthew Smith The Matth6w Smlth Almshouse Charity Notes forniing part of tho financial statements for the year ended S April 2025 1. Accounting Policles The principal accounting policies are summarised below. The accounting policies have been applied ConsiStenY throughout the year and in the preceding year. (al Basis of accounting The finanaal statements have teen prepared under the historical cost convention, as modified by the inclusion of fixed asset investments at market value, and in accordance with the Companies Act 1985 and the Statement of Recommended PrartiGe '. Accounling and Reporting by Charities issued in March 2005. (b) Fund accounting Unrestricted funds are available for use at the discretion of the trustees in furtherance of the general objectives of the charity. unstrICted funds indude a revaluation reserve representing the restatement of investment assets at market values. Designated funds are unrestricted funds eannarked by the Management Committee for particular purposes. Restricted funds are subjerted to restrictions on their expenditure imposed by the donor or through the temis of an appeal. Ic) Incomlng resour8 All incoming resources are included in the slatement of financial activities vthen the charity is entitled to. and virtually rtain to receive, the income and the amount can be quantified with reasonab accuracy. Id) Resources expended Expenditure is recognised on an accrual basis as a liability is incurred. Expenditu includes any VAT which cannot be fully recovered, and is reported as part of the expenditure to which it rèlates= (e) Fixod assets Fixed assets are revalued to their cuent valuation except the Matthew Smiths Almshouses which cannot be sold under the charity's constitution and are shown at cost less accumulatèd depreciation. Costs of minor additions or those costing below £1,000 are not capitalised. Depreciation is provided at rates calculated to write off the cost of each asset over its expected usefLsI life, which in all cases is estimated at 50 years. Impairment reviews are carried out as and when eviden¢e comes to light that Ihat the recoverable amount of a functional fixed asset is below its net b¢x)k value due to damage, obsolescence or oth8r relevant factors. Investments held as fixed assets are valued at mid-market value at the balance sheet date and the gain or loss taken to the Statement of Financial Acb'vities. Turnover The turnover is attributable to the Principal activity and arises solely within the United Kingdom. Page18
Matthew Smith ALMSHOUSE CHARITY Employees and Trustees There were no employees employed during the year. No members of the management committee received any remuneration during the year. No trustee or other person related to the charity had any personal interest in any contract or transaction entered into by the charity during the period. Accommodation in management Throughout the year the Charity operated six units of general needs housing. Taxation As a charity, the company is exempt from tsx on income and gains falling wrthin section 505 of the Taxes Act 1988 or s256 of the Taxation of Chargeable Gains Act 1992 to the extent that these are applied to its Charitable objects. No tax charges have arisen in the Charity. Fixed assets Matthew Smiths Almshouses 8roadhurst House Total Cost At 6 April 2024 Revalualion At 5 April 2024 24,759 65,784 559216 625.000 90,543 559,216 649,759 24,759 Depreciation At 6 April 2024 Provided for the period Revaluation At 5 April 2025 11,404 496 28,816 1,316 40,220 1,812 30,132 11,900 11,900 Net b¢ value At 5 April 2025 12,859 625.000 637 859 At 5 April 2024 13,355 36,968 Both buildings are freehold prop8rties. Depreciation is provided on buildings at a rate of 2% per annum. In April 2025 Broadhurst House was valued on the basis of vacant possession at £625,000. This building has been revalued to this amount. The Matthew Smiths Almhouses are prevented from sale by the charity's constrtution and so have not been revalued. The Matthew Smith Almshouses cost relates to refurbishing and improvements carried out, which were partly funded by a Housing Association Grant of £38,827. The cost is shown net of the grant. Under certain circumstances, primarily following the sale of the property, the grant is repayable. Page19
Matthew Smith ALMSHOUSE CAAlTy Investment land 2025 2024 Cost or valuation At 6 April Revaluations At 5 April 57,600 57,500 57,500 57,500 The charity holds some agricultural land at Derby Road, Milford as part of the endowment. The land was originally given to the charity and so has no historic cost. In April 2020 this land was valued by a professional valuer and the corresponding gain has been recognised in the accounts. Investments 2025 2024 Cost Raymond James InvestmentAccount Raymond James Endowment Reserve Raymond James CMF Account 22,600 101,400 206,001 330.001 22,600 101,400 206,001 330,001 Value at 5 Apnl Raymond James Investment Account Raymond James Endowment Reserve Raymond James CMF Account 45,450 139,799 242,208 427.457 137,629 237 102 417,971 The increase in value of investments has not been recognised in the accounts due to the uncertainty of future values. Cash at bank 2025 2024 HSBC Account Lloyds Account 1,088 48,368 49,456 1,116 44,054 45,170 Page | 10
THF Matthew Smith ALMSHOUSE eHARITY 10. Reserves 2025 2024 Cyclical Maintsnan¢e Fund Balance brought forward Transfer from General reseprfe Cydical maintenance ,777 20.685 6,777 7,293 7,293 6.777 6.777 2025 2024 Extraordlnary Repalr Fund Balance brought fonward and carried foThvard 41,804 41,804 2025 2024 Endowment Revaluatlon reserve Balance brought forward and carried forward 57,500 57,500 2025 2024 Endo%vmont roserve Balan brought fopward and Carried forward 167,000 167,000 2025 2024 Revaluation resorve Balan brought forward Revaluation of prortY 589,348 11. Merger of Operations On 4 September 2024 the company took over the assets and operations of the existing Matthew Smith Almshouse charty Iregislered number 236658). This Iransfer has been treated as a merger of the entities on that date and the accounts refiect the combined results for the year. Page | 11