2024-12-31-accounts - St. Giles Charity Estates

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REGISTERED CHARITY NUMBER: 1205453

REPORT OF THE TRUSTEES AND

AUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024

FOR

ST GILES CHARITY ESTATES CIO

Phipps Henson McAllister
Chartered Accountants
and Statutory Auditors
22-24 Harborough Road
Kingsthorpe
Northampton
NN2 7AZ

ST GILES CHARITY ESTATES CIO

CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024

	Page
Chairman's Report	`1 to 2`
Report of the Trustees	`3 to 7`
Report of the Independent Auditors	`8 to 10`
Statement of Financial Activities	`11`
Balance Sheet	`12`
Cash Flow Statement	`13`
Notes to the Cash Flow Statement	`14`
Notes to the Financial Statements	`15 to 26`
Detailed Statement of Financial Activities	`27 to 28`

ST GILES CHARITY ESTATES CIO

CHAIRMAN'S REPORT FOR THE YEAR ENDED 31 DECEMBER 2024

St Giles Charity Estates [202540]

ThiswillbethelastannualreportforStGilesCharityEstates[202540]astheTrusteeswillapplytothe Charity
Commissionin the next few monthsto dissolveit and have it removed from their register.All the assets and liabilities
willhavemovedovertothenewCharityofthesamename,butwhichisnowincorporatedandregisteredwith the
Charity as St Giles Charity Estates CIO [1205453].  The report by the Chair of that Charity, John Peet, follows below.

It has been my privilegeto be Chair of the originalSt Giles since 2019 throughthe covid period and then the formation
of the new CIO to modernisethe work of the Charity.However,the objectsof the originalCharity,whichwas  formed
by threegentlemenin 1547,EdwardWatson,NicholasRothwellandArthurGoodday,remainthe same.The "area of
benefit"has changedover the years,by agreementwiththe CharityCommission,from St Giles Streetto the Parish of
NorthamptonandfinallytoNorthamptonshirewiththediscretionoftheTrustees,buttheobjectsofthe charitable
workcontinue,namelythe provisionandmaintenanceof the Almshousesin EdwardWatsonClose;givingfinancial or
othersupporttotheirresidents;tohelpthoseinconditionsofpoverty,hardshiporneedintheareaofbenefit and
finally, pursuing any general charitable purposes for the benefit of residents in that area.

ThetwoCharitieshavebeenrunningintandemwhilstthelegalprocedureswerefinalised.TheoriginalCharity gave
the assets and liabilities,and the new CIO acceptedthese at boardmeetingsof both Charitieson 23 January2024 and
theGeneralVestingDeclarationwasrecognisedbytheCharityCommissionbyissuingaSection105Orderof the
Charities Act 2011 on 29 July 2024. These accounts, therefore, show that merger.

IampleasedtobeabletocontinueasaTrusteeoftheCIOandIlookforwardtoworkingwiththenewCharity and
supporting those same charitable objectives promoted by those three kind forward thinking gentlemen.

Joan Randell

Chair

Page 1

ST GILES CHARITY ESTATES CIO

CHAIRMAN'S REPORT FOR THE YEAR ENDED 31 DECEMBER 2024

St Giles Charity Estates CIO [1205453]

It is my privilegeto present the first Chair's Report for the new CharitableIncorporatedOrganisationthat has assumed
the assets, liabilitiesand undertakingof the old St Giles CharityEstates Trust.That venerableorganisationhas been  in
existence for over 450 years but will shortly be finally wound up.

Thus,hasstarteda newchapterfortheCharity.TwooftheTrusteesoftheoldCharity,TonyLainsburyand Michael
Orton-JoneshavechosentoretireandnotjointheBoardoftheCIO.Ithankthemfortheirmanyyearsof service.
TonyhascontributedgreatlyasthepreviousAdministratorforalengthyperiod.Michaelhasgivenuswise counsel
over the years and has been a very productiverecruiterof new Trustees for the CIO.No less than four of our Trustees,
including myself, were first approached by him to join the board of the CIO.

There are three other peopleI shouldparticularlymention.LoraineGarrardcontinuesto run our Care Home,  Nicholas
RothwellHouse,verywell,buildingupthenumberof residentssomeof whomhaveknownNicholasRothwell House
as theirhomeformanyyears.She hasalsoplayedan importantrolein the transferof the staffto the CIO under the
TUPE regulations.

JoanRandellhasbeenthe veryableChairof the oldCharitableTrustformanyyearsincludingthe very difficult times
ofthecovidoutbreak.Subsequently,shehasledtheCharitythroughthecomplicatedtransitiontoCIOstatus.I am
delightedthat she has agreed to be a Trustee of the new CIO and Chairof our NicholasRothwellHouse Committee. It
isveryhelpfulthatwewillcontinuetobenefitfromheryearsofknowledgeandexperience.Shehasbeena great
support to me in taking up my new role.

JaneO'Connor,asaTrusteeofbothCharities,hasassistedwiththeadministrationintheirmergerand her
conscientiousnessand attentionto detail has been invaluableparticularlyin the process of the CIO transition.She  has
devoted an enormous amount of time to her role for which all Trustees are very grateful.

The formationof the CIO and its assumptionof all the assets, liabilitiesand undertakingshas takena longertime  than
initiallyexpected.However,ithasresultedinathoroughreviewandrefinementofourprocessesand procedures
which will be of great benefit in the future which I look forward to with optimism.

`John Peet`

`Chair`

These statements were approved by the Boards on 27 May 2025 and signed on their behalf.

`Joan Randell John Peet`

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ST GILES CHARITY ESTATES CIO

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2024

Thetrusteespresenttheirreportwiththefinancialstatementsofthecharityfortheyearended31December 2024.
ThetrusteeshaveadoptedtheprovisionsofAccountingandReportingbyCharities:Statementof Recommended
PracticeapplicabletocharitiespreparingtheiraccountsinaccordancewiththeFinancialReporting Standard
applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019).

OBJECTIVES AND ACTIVITIES

Objectives and aims

The CharitableObjects of the Charityare the relief of poverty,hardshipor need in Northamptonand, at the  discretion
of the Trustees, Northamptonshire by:

1 - The provision and maintenance of almshouse accomodation.

2 - The provision of financial or other support to the residents of the almshouses operated by the CIO.

3 - The provisionof financialor othersupportto the residentsof the area of benefitwho are in conditionsof poverty,
hardship or need.

4 - At the absolutediscretionof the Trustees,perusinganygenerablecharitablepurposesforthe benefitof residents
in the area of benefit.

Public benefit

The Trusteeshave hadregardto the CharityCommission'sguidanceon publicbenefit.The mainactivities undertaken
tocarryouttheaimsforthepublicbenefitincludetheprovisionofgrantsforthepoorandneedy,theprovision of
Almshousesforoccupation,financialassistanceinsupportingthecarehomeandanyothercharitableprojects which
the Trustees regard as appropriate.

The Trusteesconfirmthattheyhavereferredto the CharityCommission'sguidanceon publicbenefitwhen reviewing
the Charity's aims and objectives and in planning future activities.

Grantmaking

ThecharityischargedwithprovidinghelptothepoorandneedyinNorthamptonshire,whichincorporatesSt. Giles
Parish, in accordance with its charitable objectives.

Exceptforthediscretionarysupportofcarehomeresidents,wehavenofacilitiesforadministeringgrants to
individuals,so allgrantsaresponsoredbyrecognisedlocalorganisations.Allsuchactivityis overseenand authorised
by the Grants Committee.

FINANCIAL REVIEW

Financial position

The results for the year are set out in the accountsattachedherewith.The financialstatementspresent the position of
theCIOunderMergerAccountingprinciples.Allprioryearcomparativesareforthepreviouscharity,StGiles Charity
(202540).

Thegeneralfundamountedto£4,446,529at31December2024(2023:£4,364,257).Themovementduringthe year
aroseduetonetoutgoingresourcesof£46,643(2023:£113,204netoutgoing)andrealisedgainsoninvestments of
£62,152,(2023:£2,019),unrealisedgainsof£66,762(2023:£20,123)anda revaluationgainonlandandbuildings of
£Nil (2023: £919,859).

The general,orunrestricted,reserveshaveincreasedat 31 December2024,free reservesinunrestrictedfunds stood
at£350,351(2023:£272,820).Incalculatingthis,theTrusteeshaveexcludedallfixedassetsincluding investments
whichprovideincomeforthecharityandwhicharenotreadilyavailableforspending.Thisfigureincludesany funds
requiredforthemaintenanceoftheAlmshouses.TheTrusteesconsideranideallevelofreservestobeatleast the
equivalent of six months unrestricted expenditure, which is approximately £514,000 (2023: £461,000).

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ST GILES CHARITY ESTATES CIO

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2024

FINANCIAL REVIEW

Principal funding sources

The principal sources of funding have continued to be fees charged to residents and investment income.

Investment policy and objectives

The Trusteesare able to take a longview of investmentreturnswiththe objectiveof at least maintainingthe value of
thecapitalovertheyearsandprovidinganincomeforourcharitablepurpose.Thisisonlydonebyspreading the
capitalinvestedacrossacarehomebusiness,11Almshouses,cash,andaspreadoffundsmanagedonacautious /
medium risk basis, currently managed by Mercer Ltd. This policy is revised annually.

TheTrusteeshaveconsideredthemostappropriatepolicyforinvestingfundsandhavefoundthatspecialist unit
trusts,designedforthecharitysector,togetherwithgovernmentsecuritiesandinvestmentinbluechip companies,
meettheirrequirementstogeneratebothincomeandcapitalgrowth.TheTrusteesconsiderthereturn on
investments in the present economic climate to be satisfactory.

Reserves policy

It is the policyof the charityto holdreservesin its unrestrictedfunds,whichhave notbeen committedor designated
foranyparticularpurposeotherthanfortheoperationof theCareHomeandAlmshouses.A Designated revaluation
fund is maintained to recognise the movement in value of the Land and Buildings.

TheTrusteeshaveset asidesuchreservesovertheyearinordertoprotectthefutureoperationsof thecharity from
theeffectsofunforeseenvariationsinitsincomestreams,orsimilarvariationsinitsexpenditure.Itisdifficult to
quantifyan acceptablelevel of reserves and this remainsa controversialsubject.The SORP defines reserves as  income
availabletobespentattheTrustees'discretioninfurtheranceofanyoftheCharity'sobjectives;butnotyet spent,
committed or designated. In the case of St Giles, such reserves have accumulated over many years.

FUTURE PLANS

TheTrusteeswillcontinuetoinvestinandimprovethecarehomeandAlmshousestoensurethattheycan compare
favourablywithotherlocalorganisations.Thishasbeenseenrecentlywiththechangesthathavebeenmadeto the
carehome.Theywillcontinuetousetheavailablefundstosupportthoseinneedintheboroughandcounty. The
Trusteesshallalsoattempttoensurethattheassetscontinuetomaintaintheirvalueinfutureyearsbyinvesting in
appropriate repairs and maintenance.

STRUCTURE, GOVERNANCE AND MANAGEMENT

Governing document

Thecharityiscontrolledbyitsgoverningdocument,itsconstitution,andconstitutesaCharitable Incorporated
Organisation.

Organisational structure

The boardof Trusteesis led by the Chairpersonand meet at least twice a year to receive and discussreportsfrom the
four sub-committees and to consider any other business as required. Further meetings may be called as needed.

There are foursub committees- House,Almshouses,Grants,andFinance.Eachof these have a Chair(whomust be a
Trustee)andmeetregularlytodiscussthebusinessofthecommittee.Themanagerisresponsibletothe House
Committee for the day to day managementof NicholasRothwellHouse Care Home, EdwardWatsonClose  Almshouses
and the finances of these.

AtthebeginningofeachmeetingtheChairmanasksforadeclarationofinterestinanyitemoftheagenda.If any
member has such an interest, they take no part in the discussion of that topic.

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ST GILES CHARITY ESTATES CIO

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2024

STRUCTURE, GOVERNANCE AND MANAGEMENT

Induction and training of new trustees

TrusteesoftheCIOareappointedforatermofthreeyears.Theexceptioniswhenitwasfirstcreatedthe seven
trusteeswereappointedfromtwoyearstofouryearstostaggerthereappointments.Thecharitydoesnot provide
in-housetrainingfor trusteesbut advantageis taken of the many availablecourses providedby accountants, solicitors
and business advisors which the Trustees attend as and when necessary.

Key management remuneration

The remuneration of key management is set by the House Committee after consultation with the Finance Committee.

Risk management

Thetrusteeshaveadutytoidentifyandreviewtheriskstowhichthecharityisexposedandtoensure appropriate
controls are in place to provide reasonable assurance against fraud and error.

Riskmanagementisaboutachievingtherightbalancebetweenriskandrewardsandthisappliestoallsorts of
undertakings including charities.

Riskdependsverymuchonthesizeandcomplexityofthecharityitself.Operationalissuesincludeservice quality,
employmentissues,healthandsafety,publicliabilityandfraud.Financialissuesincludeinformation,adequacy of
reserves and cash flow.

The Trusteeshaveconducteda reviewof themajorrisksto whichthecharityis exposedandthesystems established
to mitigatetheseriskswhichincludeinsurance.Internalrisksare minimisedby the implementationof procedures for
authorisationoftransactionsandotherproceduresareperiodicallyreviewedtoensuretheystillmeettheneeds of
the charity.

Inaddition,theTrusteesappreciatethatthecharityisoperatinginaperiodofpoliticalandeconomic uncertainty
which could affect returnsfrom investmentswhich in turn could also affect the abilityto help beneficiaries.This is  why
theTrusteesmeetregularlywiththereputableinvestmentmanagerstoensuretheportfoliosaremonitored and
adheretoapolicyagreedbythecharity.Theinvestmentstrategyisassessedregularlytoensureit remains
appropriate to the charity's needs - both now and in the future.

REFERENCE AND ADMINISTRATIVE DETAILS Registered Charity number

Principal address

Nicholas Rothwell House
290 Harborough Road
Kingsthorpe
Northampton
NN2 8LR

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ST GILES CHARITY ESTATES CIO

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2024

Trustees

Mrs J Randell (appointed 27/10/2023) Mrs A E Banner (appointed 27/10/2023) Mr G Howard (appointed 27/10/2023) Mrs E J O'Connor (appointed 27/10/2023) Mr N A Thomas (appointed 27/10/2023) Mrs J M Miles (appointed 27/10/2023) Mr J H Peet - Chair (appointed 27/10/2023) Ms R McGrath (appointed 23/1/2024) Mr D Hunter (appointed 23/1/2024) Dr N Kay (appointed 23/1/2024)

Auditors

Phipps Henson McAllister
Chartered Accountants
and Statutory Auditors
22-24 Harborough Road
Kingsthorpe
Northampton
NN2 7AZ

Solicitors

DFA Law
2 Waterside Way
Northampton
NN4 7XD

Independent Financial Advisors

Mercer Ltd
Rosemoor Court
Pynes Hill
Exeter
EX2 5TU

Bankers

NatWest plc
41 The Drapery
Northampton
NN1 2EY

Key Management Personnel

Mrs L Garrard - Care Home Manager
Ms C Hunt - Deputy Care Home Manager

COMMENCEMENT OF ACTIVITIES

StGilesCharityEstates,registeredcharity1205453wasregisteredasaCharitableIncorporatedOrganisation(CIO) on
27October2023withtheintentiontocontinuetheaimsandobjectivesofthepreviousCharity,StGiles Charity
Estates(RegisteredCharity202540)inamoreappropriateandmodernframework.Thereportingperiod was
extendedto31December2024toallowthetransferofassets,liabilitiesandactivitiestobecompletedina suitable
manner.

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ST GILES CHARITY ESTATES CIO

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2024

STATEMENT OF TRUSTEES' RESPONSIBILITIES

ThetrusteesareresponsibleforpreparingtheAnnualReportandthefinancialstatementsinaccordance with
applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

ThelawapplicabletocharitiesinEnglandandWales,theCharitiesAct2011,Charity(Accountsand Reports)
Regulations2008andtheprovisionsofthetrustdeedrequiresthetrusteestopreparefinancialstatementsfor each
financialyearwhichgiveatrueandfairviewofthestateofaffairsofthecharityandoftheincomingresources and
applicationofresources,includingtheincomeandexpenditure,ofthecharityforthatperiod.Inpreparing those
financial statements, the trustees are required to

select suitable accounting policies and then apply them consistently;
observe the methods and principles in the Charity SORP;
make judgements and estimates that are reasonable and prudent;
state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements;
prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in business.

Thetrusteesareresponsibleforkeepingproperaccountingrecordswhichdisclosewithreasonableaccuracyat any
time the financialpositionof the charityandto enablethem to ensurethatthe financialstatementscomplywith the
CharitiesAct 2011, the Charity(Accountsand Reports)Regulations2008 and the provisionsof the trust deed. They  are
alsoresponsibleforsafeguardingtheassetsofthecharityandhencefortakingreasonablestepsforthe prevention
and detection of fraud and other irregularities.

Disclosure of information to auditors

Each person who was a Trustee at the time this report was approved confirms that:

- so far as they are aware, there is no relevant audit information of which the charity's auditor is unaware; and
- they have takenall the steps that they oughtto have takenin orderto make themselvesaware of any relevant audit
information and to establish that the charity's auditor is aware of that information.

Approved by order of the board of trustees on 27 May 2025 and signed on its behalf by:

Mr J H Peet - Trustee

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REPORT OF THE INDEPENDENT AUDITORS TO THE TRUSTEES OF ST GILES CHARITY ESTATES CIO

Opinion

We have audited the financial statements of St Giles Charity Estates CIO (the 'charity') for the year ended 31 December 2024 which comprise the Statement of Financial Activities, the Balance Sheet, the Cash Flow Statement and notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

give a true and fair view of the state of the charity's affairs as at 31 December 2024 and of its incoming resources and application of resources, for the year then ended;
have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
have been prepared in accordance with the requirements of the Charities Act 2011.

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the charity in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the trustees' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charity's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report.

Other information

The trustees are responsible for the other information. The other information comprises the information included in the Annual Report, other than the financial statements and our Report of the Independent Auditors thereon.

Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

Matters on which we are required to report by exception

We have nothing to report in respect of the following matters where the Charities (Accounts and Reports) Regulations 2008 requires us to report to you if, in our opinion:

the information given in the Report of the Trustees is inconsistent in any material respect with the financial statements; or
sufficient accounting records have not been kept; or
the financial statements are not in agreement with the accounting records and returns; or
we have not received all the information and explanations we require for our audit.

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REPORT OF THE INDEPENDENT AUDITORS TO THE TRUSTEES OF ST GILES CHARITY ESTATES CIO

Responsibilities of trustees

As explainedmore fullyin the Statementof Trustees'Responsibilities,the trusteesare responsiblefor the  preparation
ofthefinancialstatementswhichgivea trueandfairview,andforsuchinternalcontrolasthetrusteesdetermine is
necessaryto enablethe preparationof financialstatementsthat are free from materialmisstatement,whetherdue  to
fraud or error.

Inpreparingthefinancialstatements,thetrusteesareresponsibleforassessingthecharity'sabilitytocontinueas a
goingconcern,disclosing,asapplicable,mattersrelatedtogoingconcernandusingthegoingconcernbasis of
accountingunlessthetrusteeseitherintendtoliquidatethecharityortoceaseoperations,orhaveno realistic
alternative but to do so.

Our responsibilities for the audit of the financial statements

WehavebeenappointedasauditorsunderSection144oftheCharitiesAct2011andreportinaccordancewith the
Act and relevant regulations made or having effect thereunder.

Ourobjectivesaretoobtainreasonableassuranceaboutwhetherthefinancialstatementsasawholearefree from
materialmisstatement,whether due to fraud or error, and to issue a Report of the IndependentAuditorsthat includes
ouropinion.Reasonableassuranceisahighlevelofassurance,butisnotaguaranteethatanauditconducted in
accordancewithISAs(UK)willalwaysdetectamaterialmisstatementwhenitexists.Misstatementscanarise from
fraudorerrorandareconsideredmaterialif,individuallyorintheaggregate,theycouldreasonablybeexpected to
influence the economic decisions of users taken on the basis of these financial statements.

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

Irregularities,includingfraud,areinstancesofnon-compliancewithlawsandregulations.Wedesignprocedures in
linewithourresponsibilities,outlinedabove,todetectmaterialmisstatementsinrespectofirregularities, including
fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

We obtained an understanding of the legal and regulatory frameworks applicable to the Charity and the sector in which they operate. We determined that the following laws and regulations were most significant: the Charities Act 2011, the Bribery Act 2010, The Care Home Regulations 2001 and UK taxation laws.
We obtained an understanding of how the Charity is complying with those legal and regulatory frameworks by making inquiries to the management. We corroborated our inquiries through our review of board minutes and other papers.
We assessed the susceptibility of the Charity’s financial statements to material misstatement, including how fraud might occur. Audit procedures performed by the engagement team included:
identifying and assessing the design effectiveness of controls management has in place to prevent and detect fraud;
understanding how those charged with governance considered and addressed the potential for override of controls or other inappropriate influence over the financial reporting process;
challenging assumptions and judgments made by management in its significant accounting estimates;
- identifying and testing journal entries, in particular any journal entries posted with unusual account combinations
assessing the extent of compliance with the relevant laws and regulations.

Becauseof the inherentlimitationsof an audit,thereis a riskthatwe willnotdetectallirregularities,including those
leadingtoamaterialmisstatementinthefinancialstatementsornon-compliancewithregulation.Thisrisk increases
themorethatcompliancewithalaworregulationisremovedfromtheeventsandtransactionsreflectedin the
financialstatements,as we will be less likelyto become aware of instancesof non-compliance.The risk is also greater
regardingirregularitiesoccurringduetofraudratherthanerror,asfraudinvolvesintentionalconcealment, forgery,
collusion, omission or misrepresentation.

Afurtherdescriptionofourresponsibilitiesfortheauditofthefinancialstatementsislocatedonthe Financial
ReportingCouncil'swebsiteatwww.frc.org.uk/auditorsresponsibilities.ThisdescriptionformspartofourReport of
the Independent Auditors.

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REPORT OF THE INDEPENDENT AUDITORS TO THE TRUSTEES OF ST GILES CHARITY ESTATES CIO

Use of our report

This reportis made solelyto the charity'strustees,as a body,in accordancewith Part 4 of the Charities(Accounts and
Reports)Regulations2008. Our auditwork has been undertakenso that we might state to the charity'strustees those
matterswearerequiredtostatetotheminanauditors'reportandfornootherpurpose.Tothefullest extent
permittedbylaw,wedonotacceptorassumeresponsibilitytoanyoneotherthanthecharityandthe charity's
trustees as a body, for our audit work, for this report, or for the opinions we have formed.

Phipps Henson McAllister
Chartered Accountants
and Statutory Auditors
22-24 Harborough Road
Kingsthorpe
Northampton
NN2 7AZ

27 May 2025

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ST GILES CHARITY ESTATES CIO

STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2024

`Notes` `2` `3` `4` `5` `15` INCOME AND ENDOWMENTS FROM `Donations and legacies` `Charitable Activities` `Investment income` `Other income` Total EXPENDITURE ON Charitable activities `Direct charitable expenses` `Grants Paid` `Governance costs` `Cost of raising funds` Total NET INCOME/(EXPENDITURE) Transfers between funds Other recognised gains/(losses) `Gains on revaluation of fixed assets` Changes in market value of investments Net movement in funds RECONCILIATION OF FUNDS `Total funds brought forward` TOTAL FUNDS CARRIED FORWARD	`Charity` `Unrestricted` `Funds` `£` 20,517 514,325 16,402 20,188 571,432 529,224 45,717 2,822 11,948 589,711 (18,279) (4,345,978) - - (4,364,257) 4,364,257 -	`CIO` `Unrestricted` `Funds` `£` 15,705 367,374 17,159 10,055 410,293 378,017 32,655 19,448 8,535 438,655 (28,362) 4,345,978 - 128,914 4,446,530 - 4,446,530	2024 Total funds £ 36,222 881,699 33,561 30,243 981,725 907,241 78,372 22,270 20,483 1,028,366 (46,641) - - 128,914 82,273 4,364,257 4,446,530	`2023` `Total` `funds` `£` `60` `762,521` `47,503` `24,000` `834,084` `904,288` `43,000` `-` `-` `947,288` `(113,204)` `-` `919,859` `22,142` `828,797` `3,535,460` `4,364,257`

The notes form part of these financial statements

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ST GILES CHARITY ESTATES CIO

BALANCE SHEET 31 DECEMBER 2024

`Notes` FIXED ASSETS `Tangible assets` `11` `Investments` `12` CURRENT ASSETS `Debtors` `13` `Cash at bank and in hand` CREDITORS `Amounts falling due within one year` `14` NET CURRENT ASSETS TOTAL ASSETS LESS CURRENT LIABILITIES NET ASSETS FUNDS `15` `Unrestricted funds` TOTAL FUNDS	`Charity` `Unrestricted` `Funds` `£` - - - - - - - - - -	`CIO` `Unrestricted` `Funds` `£` 1,940,672 2,155,508 4,096,180 34,635 347,805 382,440 (32,090) 350,350 4,446,530 4,446,530	2024 Total funds £ 1,940,672 2,155,508 4,096,180 34,635 347,805 382,440 (32,090) 350,350 4,446,530 4,446,530 4,446,530 4,446,530	`2023` `Total` `funds` `£` `1,925,002` `2,166,435`
				`4,091,437` `30,225` `270,433`
				`300,658` `(27,838)`
				`272,820`
				`4,364,257`
				`4,364,257`
				`4,364,257`
				`4,364,257`

The financialstatementswere approvedby the Boardof Trusteesandauthorisedforissueon 27 May 2025and were
signed on its behalf by:

Mr J H Peet - Trustee

The notes form part of these financial statements

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ST GILES CHARITY ESTATES CIO

CASH FLOW STATEMENT FOR THE YEAR ENDED 31 DECEMBER 2024

`Notes` Cash flows from operating activities `Cash generated from operations` `1` `Net cash used in operating activities` Cash flows from investing activities `Purchase of tangible fixed assets` `Purchase of fixed asset investments` `Sale of fixed asset investments` `Interest received` `Dividends received` `Net cash provided by investing activities` Change in cash and cash equivalents in the reporting period Cash and cash equivalents at the beginning of the reporting period Cash and cash equivalents at the end of the reporting period	2024 £ (76,442) (76,442) (19,588) (1,165,815) 1,305,656 5,443 28,118 153,814 77,372 270,433 347,805	`2023` `£` `(123,108)` `(123,108)` `-` `(1,417,566)` `1,421,425` `5,407` `42,096` `51,362` `(71,746)` `342,179` `270,433`

The notes form part of these financial statements

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ST GILES CHARITY ESTATES CIO

NOTES TO THE CASH FLOW STATEMENT FOR THE YEAR ENDED 31 DECEMBER 2024

1. RECONCILIATION OF NET EXPENDITURE TO NET CASH FLOW FROM OPERATING ACTIVITIES

Net expenditure for the reporting period (as per the Statement of Financial Activities) Adjustments for: `Depreciation charges` `Interest received` `Dividends received` `Increase in debtors` `Increase/(decrease) in creditors` Net cash used in operations	2024 £ (46,641) 3,918 (5,443) (28,118) (4,410) 4,252 (76,442)	`2023` `£` `(113,204)` `44,563` `(5,407)` `(42,096)` `(4,919)` `(2,045)` `(123,108)`

2. ANALYSIS OF CHANGES IN NET FUNDS

ANALYSIS OF CHANGES IN NET FUNDS
	`At 1/1/24`	`Cash flow`	At 31/12/24
	`£`	`£`	£
Net cash
`Cash at bank and in hand`	270,433	77,372	347,805
	270,433	77,372	347,805
Total	270,433	77,372	347,805

The notes form part of these financial statements

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ST GILES CHARITY ESTATES CIO

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024

1. ACCOUNTING POLICIES

Basis of preparing the financial statements

Thefinancialstatementsof thecharity,whichis a publicbenefitentityunderFRS 102,havebeenprepared in
accordancewiththeCharitiesSORP(FRS102)'AccountingandReportingbyCharities:Statement of
RecommendedPracticeapplicabletocharitiespreparingtheiraccountsinaccordancewiththe Financial
ReportingStandardapplicablein the UK and Republicof Ireland(FRS 102) (effective1 January2019)', Financial
ReportingStandard102 'The FinancialReportingStandardapplicablein the UK and Republicof Ireland'and the
CharitiesAct 2011. The financialstatementshave been preparedunder the historicalcost convention,with the
exception of investments which are included at market value, as modified by the revaluation of certain assets.

Going Concern

Theaccountshavebeenpreparedonagoingconcernbasisasthetrusteesbelievethatno material
uncertaintiesexist.Thehavetrusteesconsideredtheleveloffundheldandtheexpectedlevelofincome and
expenditurefor12monthsfromauthorisingtheseaccounts.Thebudgetedincomeandexpenditure is
sufficient with the levels of reserves for the charity to be able to continue as a going concern.

Income

Allincomeisrecognisedoncethecharityhasentitlementtotheincome,thereissufficientcertaintyof the
receiptandsoitisprobablethattheincomewillbereceivedandtheamountofincomereceivablecan be
measuredreliably.Donationsandgrantsreceivedarecreditedonthestatementoffinancialactivitiesin the
year to which they relate.

No legacies were received or due to be received in the year but the charity'spolicy is to includethese when  the
charityis advisedby the personalrepresentativeof an estate thatpaymentwill be made, property transferred
andtheamountinvolvedcanbequantified.Shouldanylegacieseverarise,theywillbeincludedin the
statement of financial activities.

Residents fees and Rental income

Residents fees and alms-houses' licence to occupy rental fees are included when receivable.

Investment Income

Investment income, including dividends, associated income and tax recoveries, is recognised when receivable.

Donations and gifts

Allmonetarydonationsandgiftsareincludedintheaccountswhenreceivableprovidedthatthereare no
donor-imposedrestrictionsastothetimingoftherelatedexpenditure,inwhichcasetherecognition is
deferreduntil the pre-conditionhas been met or fulfilledof those conditionsis whollywithinthe controlof  the
charity and it is probable that those conditions will be fulfilled in the reporting period.

Expenditure

Expenditureis recognisedonce there is a legal or constructiveobligationto make a paymentto a thirdparty, it
is probable that settlement will be required and the amount of the obligation can be measured reliably.

All expenditure is accounted for on an accruals basis.

Cost of generating funds comprise all costs with raising income.

Grants offered subject to conditionswhich have not been met at the year end date are noted as a  commitment
but not accrued as expenditure.

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ST GILES CHARITY ESTATES CIO

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2024

1. ACCOUNTING POLICIES - continued

Charitable activities

Expenditureoncharitableactivitiesincludesthecostsincurreddirectlytothefulfilmentofthe Charity's
objectives.

Support Costs

Supportcostsarethosefunctionsthatassisttheworkof thecharity,butdonotdirectlyundertake charitable
activities. Support costs include back office costs, finance, personnel, payroll and governance costs.

Governance costs

Governancecostscompriseallcostsinvolvingthepublicaccountabilityofthecharityanditscompliance with
regulationandgoodpractice.Thesecostsincludecostsrelatedtostatutoryaudit,trusteeandlegalfees and
trustee liability insurance.

Tangible fixed assets

Freeholdlandandbuildingsareheldatvaluation.Thetrusteesobtainaprofessionalvaluationona periodic
basiswithmovementstakentoadesignatedRevaluationReserveheldwithintheGeneralReserve. The
carryingvalueisthenreviewedforimpairmenttoensurethatthecarryingvaluereflectsthe recoverable
amount.

Plantandmachineryisdepreciatedonastraightlinebasisovertheexpectedeconomiclifeofthe asset,
normally five years.

All expenditure less than £2,500 is written off to the Statement of Financial Activities in the year incurred.

Taxation

The charity is exempt from tax on its charitable activities.

Fund accounting

Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.

Restrictedfundscanonlybeusedforparticularrestrictedpurposeswithintheobjectsofthe charity.
Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.

Furtherexplanationofthenatureandpurposeofeachfundisincludedinthenotestothe financial
statements.

Pension costs and other post-retirement benefits

Thecharityoperatesadefinedcontributionpensionscheme.Contributionsarechargedtothestatement of
financialactivitiesas they becomepayablein accordancewiththe rulesof the scheme.Whenemployees have
renderedservicetothecharity,short-termemployeebenefitstowhichtheemployeesareentitled are
recognisedattheundiscountedamountexpectedtobepaidinexchangeforthatserviceandany unused
holidayentitlementisnotpermittedtobecarriedforwardsoallstaffensuretheytaketheirholidays before
the holiday period ends.

Debtors

Shortterm debtorsare measuredat transactionprice(whichis usuallythe invoiceprice),less any impairment
lossesforbadanddoubtfuldebts.Otherfinancialassetsareinitiallyrecognisedattransactionprice including
any transaction costs.

Creditors

Short term creditors are measured at transaction price (which is usually the invoice price).

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ST GILES CHARITY ESTATES CIO

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2024

1. ACCOUNTING POLICIES - continued

Debtors

Provisions

Provisions(i.e.liabilitiesofuncertaintimingoramount)arerecognisedwhenthereisanobligationat the
reportingdateas a resultof a pastevent,it is probablethateconomicbenefitwillbe transferredto settle the
obligation and the amount of the obligation can be estimated reliably.

Operating leases

Rentals paid under operating leases are charged to income on a straight line basis over the lease term.

2. DONATIONS AND LEGACIES

DONATIONS AND LEGACIES
	2024	`2023`
	£	`£`
`Donations`	36,222	`60`

TheTrusteesprovidesupporttocertaincarehomeresidentsinrespectoftheirfees.Thisisrecorded as
DonationIncomebyNicholasRothwellHouse,andwas£35,172(2023:£28,920,offsetagainstcostsand not
separately disclosed).

3. CHARITABLE ACTIVITIES

`Residents fees` `Rents received` INVESTMENT INCOME `Dividends received` `Interest received`	2024 £ 800,494 81,205 881,699 2024 £ 28,118 5,443 33,561	`2023` `£` `684,648` `77,873`	`2023` `£` `684,648` `77,873`
		`762,521`
			`2023` `£` `42,096` `5,407`
			`47,503`

4. INVESTMENT INCOME

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ST GILES CHARITY ESTATES CIO

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2024

5. CHARITABLE ACTIVITIES COSTS

5. CHARITABLE ACTIVITIES COSTS
`Direct charitable expenses` `Grants Paid` `Governance costs` `Cost of raising funds` 6. GRANTS PAYABLE `Grants Paid`	`Direct` `Costs` `£` 705,843 - - - 705,843	`Grant` `funding of` `activities` `(see note` `6)` `£` - 78,372 - - 78,372	`Support` `costs (see` `note 7)` `£` 201,398 - 22,270 20,483 244,151 2024 £ 78,372	`Totals` `£` 907,241 78,372 22,270 20,483
				1,028,366
				`2023` `£` `43,000`

The Charity has made grants during the year in accordance with its charitable objectives as below:

Grantstotalling£40,000(2023:£43,000)wereawardedtoCharityLinkandNorthamptonshire Community
Foundation.

A grant of £1,000 was awarded to Maggies (2023: £nil).

TheTrusteesprovidesupporttocertaincarehomeresidentsinrespectoftheirfeesamountingto £35,172
(2023: £28,920 offset againstincome). Each of the 11 Almshousesreceived a grant of £200 (2023: £nil) towards
heating costs.

7. SUPPORT COSTS

SUPPORT COSTS
`General` `administrative` `Governance` `expense` `costs` `£` `£` `Direct charitable expenses` 187,674 13,724 `Governance costs` - 22,270 `Cost of raising funds` - 20,483 187,674 56,477	`Totals` `£` 201,398 22,270 20,483
	244,151

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ST GILES CHARITY ESTATES CIO

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2024

8. TRUSTEES' REMUNERATION AND BENEFITS

There were no trustees'remunerationor other benefitsfor the year ended 31 December 2024 nor for the year
ended 31 December 2023.

Trustees' expenses

Therewerenotrustees'expensespaidfortheyearended31December2024norfortheyear ended
31 December 2023.

9. STAFF COSTS

STAFF COSTS
`Wages and salaries` `Social security costs` `Other pension costs`	2024 £ 538,577 40,045 17,141 595,763	`2023` `£` `495,020` `34,590` `16,435`
		`546,045`

The average monthly number of employees during the year was as follows:

`Management` `Employees`	2024 2 22 24	`2023` `2` `24`
		`26`

No employees received emoluments in excess of £60,000.

TotalremunerationforKeyManagementPersonnelwas£113,898(2023:£106,954).Key Management
Personnel comprise both the Manager and the Deputy Manager.

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ST GILES CHARITY ESTATES CIO

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2024

10. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES

INCOME AND ENDOWMENTS FROM `Donations and legacies` `Charitable Activities` `Investment income` `Other income` Total EXPENDITURE ON Charitable activities `Direct charitable expenses` `Grants Paid` Total NET INCOME/(EXPENDITURE) Other recognised gains/(losses) `Gains on revaluation of fixed assets` `Actuarial gains on defined benefit schemes` Net movement in funds RECONCILIATION OF FUNDS `Total funds brought forward` TOTAL FUNDS CARRIED FORWARD	`Charity` `Unrestricted` `Funds` `£` `60` `762,521` `47,503` `24,000` `834,084` `904,288` `43,000` `947,288` `(113,204)` `919,859` `22,142` `828,797` `3,535,460` `4,364,257`	`CIO` `Unrestricted` `Funds` `£` `-` `-` `-` `-` `-` `-` `-` `-` `-` `-` `-` `-` `-` `-`	`Total` `funds` `£` `60` `762,521` `47,503` `24,000`
			`834,084`
			`904,288` `43,000`
			`947,288`
			`(113,204)` `919,859` `22,142`
			`828,797` `3,535,460`
			`4,364,257`

Page 20

ST GILES CHARITY ESTATES CIO

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2024

11. TANGIBLE FIXED ASSETS

TANGIBLE FIXED ASSETS
COST `At 1 January 2024` `Additions` `At 31 December 2024` DEPRECIATION `At 1 January 2024` `Charge for year` `At 31 December 2024` NET BOOK VALUE `At 31 December 2024` `At 31 December 2023`	`Land and` `buildings` `£` 1,925,000 - 1,925,000 - - - 1,925,000 `1,925,000`	`Plant and` `machinery` `£` 22,439 19,588 42,027 22,437 3,918 26,355 15,672 `2`	`Totals` `£` 1,947,439 19,588
			1,967,027
			22,437 3,918
			26,355
			1,940,672
			`1,925,002`

PriortothetransferofassetstotheCIO,avaluationoftheCharity'sLandandBuildingswasundertaken by
UnderwoodsLLPonanopenmarketbasis.Ifthefreeholdlandandbuildingshadnotbeenrevalued they
would be included at the following historical cost:

	2024	2023
	£	£

`Freehold land and buildings`	1,835,532	`1,835,532`

FIXED ASSET INVESTMENTS MARKET VALUE `At 1 January 2024` `Additions` `Disposals` `Change in market value of investments` `At 31 December 2024` NET BOOK VALUE `At 31 December 2024` `At 31 December 2023`		`Listed` `investments` `£` 2,166,435 1,165,815 (1,305,656) 128,914 2,155,508 2,155,508 `2,166,435`

12. FIXED ASSET INVESTMENTS

TherewerenodirectlyheldinvestmentassetsoutsidetheUK.Holdingsincommoninvestmentfunds, unit
trusts and open-ended investment companies are held at the bid price.

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ST GILES CHARITY ESTATES CIO

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2024

12. FIXED ASSET INVESTMENTS - continued

The change in market value comprises realised and unrealised gains and loses as below:

	2024	`2023`
	£	`£`
`Realised gains (losses)`	62,152	`2,019`
`Unrealised gains (losses)`	66,762	`20,123`

	128,914	`22,142`

Ifinvestmentswerenotrevalued,theywouldhavebeenincludedathistoricalcostbasisatthe following
amounts:

`amounts:`
	2024	2023
	£	£

`Investment portfolio at cost`	2,029,445	`2,104,695`

InvestmentsaremanagedbyMercerLimited.Theportfolioismanagedtoprovidearegularincomefor the
Charity,andto secureitslongtermfuture,Materialinvestmentsincludeamountsheldwithinfunds managed
by:

	2024	2023

`L&G`	21.49%	`16.56%`
`Blackrock`	18.16%	`17.95%`
`UBS`	13.55%	`0.0%`
`JP Morgan`	10.65%	`9.87%`
`Fidelity`	0.0%	`17.84%`
`Investments at fair value comprise:`
	2024	2023
	£	£

`Equities and securities / managed funds`	2,155,507	`2,166,434`
`Cash in investment portfolio (included in Cash at Bank)`	195,792	`68,005`

	2,351,298	`2,234,439`

Page 22

ST GILES CHARITY ESTATES CIO

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2024

13. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

`Trade debtors` `Other debtors` `Prepayments and accrued income` 14. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR `Trade creditors` `Taxation and social security` `Other creditors`	2024 £ 10,729 - 23,906 34,635 2024 £ 11,588 11,791 8,711 32,090	`2023` `£` `3,853` `8,188` `18,184`
		`30,225`
		`2023` `£` `-` `11,039` `16,799`
		`27,838`

15. MOVEMENT IN FUNDS

Unrestricted funds `General fund - Charity` `Nicholas Rothwell House - Charity` `Alms Houses - Charity` `Revaluation Reserve - Charity` `General fund - CIO` `Nicholas Rothwell House - CIO` `Alms Houses - CIO` `Revaluation Reserve - CIO` TOTAL FUNDS	`At 1/1/24` `£` 3,444,398 - - 919,859 - - - - 4,364,257 4,364,257	`Net` `movement` `in funds` `£` (44,084) 8,794 17,011 - 85,436 2,965 12,151 - 82,273 82,273	`Transfers` `between` `funds` `£` (3,400,314) (8,794) (17,011) (919,859) 3,400,314 8,794 17,011 919,859 - -	`At` `31/12/24` `£` - - - - 3,485,750 11,759 29,162 919,859
				4,446,530
				4,446,530

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ST GILES CHARITY ESTATES CIO

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2024

15. MOVEMENT IN FUNDS - continued

Net movement in funds, included in the above are as follows:

Unrestricted funds `General fund - Charity` `Nicholas Rothwell House - Charity` `Alms Houses - Charity` `General fund - CIO` `Nicholas Rothwell House - CIO` `Alms Houses - CIO` TOTAL FUNDS	`Incoming` `resources` `£` 16,403 507,660 47,369 17,159 359,299 33,835 981,725 981,725	`Resources` `expended` `£` (60,487) (498,866) (30,358) (60,637) (356,334) (21,684) (1,028,366) (1,028,366)	`Gains and` `losses` `£` - - - 128,914 - - 128,914 128,914	`Movement` `in funds` `£` (44,084) 8,794 17,011 85,436 2,965 12,151
				82,273
				82,273

Comparatives for movement in funds

Unrestricted funds `General fund - Charity` `Nicholas Rothwell House - Charity` `Alms Houses - Charity` `Revaluation Reserve - Charity` TOTAL FUNDS	`At 1/1/23` `£` `3,535,460` `-` `-` `-` `3,535,460` `3,535,460`	`Net` `movement` `in funds` `£` `(72,034)` `(50,007)` `30,979` `919,859` `828,797` `828,797`	`Transfers` `between` `funds` `£` `(19,028)` `50,007` `(30,979)` `-` `-` `-`	`At` `31/12/23` `£` `3,444,398` `-` `-` `919,859`
				`4,364,257`
				`4,364,257`

Comparative net movement in funds, included in the above are as follows:

Unrestricted funds `General fund - Charity` `Nicholas Rothwell House - Charity` `Alms Houses - Charity` `Revaluation Reserve - Charity` TOTAL FUNDS	`Incoming` `resources` `£` `47,503` `708,708` `77,873` `-` `834,084` `834,084`	`Resources` `expended` `£` `(141,679)` `(758,715)` `(46,894)` `-` `(947,288)` `(947,288)`	`Gains and` `Movement` `losses` `in funds` `£` `£` `22,142` `(72,034)` `-` `(50,007)` `-` `30,979` `919,859` `919,859` `942,001` `828,797` `942,001` `828,797`	`Gains and` `Movement` `losses` `in funds` `£` `£` `22,142` `(72,034)` `-` `(50,007)` `-` `30,979` `919,859` `919,859` `942,001` `828,797` `942,001` `828,797`
				`828,797`
				`828,797`

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ST GILES CHARITY ESTATES CIO

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2024

15. MOVEMENT IN FUNDS - continued

A current year 12 months and prior year 12 months combined position is as follows:

Unrestricted funds `General fund - Charity` `Nicholas Rothwell House - Charity` `Alms Houses - Charity` `Revaluation Reserve - Charity` `General fund - CIO` `Nicholas Rothwell House - CIO` `Alms Houses - CIO` `Revaluation Reserve - CIO` TOTAL FUNDS	`At 1/1/23` `£` `3,535,460` `-` `-` `-` `-` `-` `-` `-` `3,535,460` `3,535,460`	`Net` `movement` `in funds` `£` `(116,118)` `(41,213)` `47,990` `919,859` `85,436` `2,965` `12,151` `-` `911,070` `911,070`	`Transfers` `between` `funds` `£` `(3,419,342)` `41,213` `(47,990)` `(919,859)` `3,400,314` `8,794` `17,011` `919,859` `-` `-`	`At` `31/12/24` `£` `-` `-` `-` `-` `3,485,750` `11,759` `29,162` `919,859`
				`4,446,530`
				`4,446,530`

A currentyear12monthsandprioryear12monthscombinednetmovementinfunds,includedinthe above
are as follows:

Unrestricted funds `General fund - Charity` `Nicholas Rothwell House - Charity` `Alms Houses - Charity` `Revaluation Reserve - Charity` `General fund - CIO` `Nicholas Rothwell House - CIO` `Alms Houses - CIO` TOTAL FUNDS	`Incoming` `resources` `£` `63,906` `1,216,368` `125,242` `-` `17,159` `359,299` `33,835` `1,815,809` `1,815,809`	`Resources` `expended` `£` `(202,166)` `(1,257,581)` `(77,252)` `-` `(60,637)` `(356,334)` `(21,684)` `(1,975,654)` `(1,975,654)`	`Gains and` `losses` `£` `22,142` `-` `-` `919,859` `128,914` `-` `-` `1,070,915` `1,070,915`	`Movement` `in funds` `£` `(116,118)` `(41,213)` `47,990` `919,859` `85,436` `2,965` `12,151`
				`911,070`
				`911,070`

Fundsareconsideredtobeunrestrictedandfullyavailablefortheadvancementofthecharitable objectives.
Individualactivitiesareseparatedasdesignatedfundstoassistinoperationalmonitoringofthecharity's key
activities.

Funds from the predecessor Charity (202540) were transferred to the CIO during the year.

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ST GILES CHARITY ESTATES CIO

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2024

16. RELATED PARTY DISCLOSURES

There were no related party transactions for the year ended 31 December 2024.

Page 26