WORSLEY'S ALMSHOUSES ADDRESS: Worsley's Almshouses Oaklands Park Road Wootton RYDE, Isle of Wight PO33 4RL TRUSTEES: Dr Jonathan Nainby-Luxmoore, DL John Barnikel Graeme Bowen Gillian Burnett David Langdon Colin Samue150n SECRETARY: Gillian Burnett APPOINTMENT OF TRUSTEES: The existing trustees vote for the appointment of new trustees GOVERNING DOCUMENT: Constitution of a Charitable Incorporated Organisation by order of th the Charity Commission dated 20 August, 2024 CHARITABLE STATUS: The Charity is a registered CIO No: 1209681 BANK: Lloyds Bank PLC 22 St Thomas, Square NEWPORT, IW PO30 ISQ SOLICITORS: Glanvilles Damant The Courtyard St Cross Business Park NEWPORT, IW PO30 5BF INDEPENDENT EXAMINER: James Palmer ACA Bright Brown Ltd Exchange House st Cross Lane NEWPORT, IW PO30 5BZ
St TRUSTEES, REPORT FOR THE YEAR ENDED 31 MARCH, 2026 Aims and Objectlves To provide relief for poor persons who are inhabitants of the area of the former borough of Newport or of the parish of Godshill in the Isle of Wight, by the provision of Almshouse accommodation under licence and by other means as the Trustees think fit from time to time. In shaping the objectives for the year and planning the activities, the Trustees have considered the Charity Commission's guidance on public benefit. Policles The Charity adopts the following as guidelines: Reserves- Sufficient funds are available to cover any emergencies Investments- Advice is sought where appropriate Risk Management The Trustees regularly review the major strategic, business and operational risk5 to which the charity is exposed, and confirm that systems have been established which enable the necessary steps to be taken to lessen these risks. Results for the year This has been a year of transition for the Charity to reflect our CIO (Charitable Incorporated Organisation) status. The Pre-merger Vesting Declaration was completed in September, 2025. We are now in the final elements of transferring everything to the CIO. The Trustee5 met, in person, on four occasions. The decision was taken at the Tru5tees' meeting held in June, 2025 that the Monthly Maintenance Contributions (MMC) paid by the residents of the Almshouses should be increased as this has not been reviewed for over ten years. £350 per month was agreed and all residents were given the required six-month's notice in September, 2025 that the MMC would increase from 1st April, 2026. Having been appointed Almshouses Officer atthe 2025 AGM, David Langdon personally metwith all the occupiers thus building a good working relationship with them. Apart frorn the minor maintenance issues that arise and are dealt with by the More Lettings contractors, only one major work has been undertaken. This was the iTnprovement of the access path and slope to the rear gardens and back doors from the pedestrian gate which is located to the west of the west flank wall to No 29 Crocker Street. This work was carried out satisfactorily and the appointed contractors had a good working relationship with the occupiers. th The annual meeting with the residents took place on Monday 9 March, 2026, 10.3oam 3t One Holyrood. All residents attended and the Charity was represented by Gillian Burnett, David Langdon and Colin Samuelson. 'More Letting" continued to oversee collection of the Monthly Maintenance Contributions and these were all paid on time. Income after VAT and commission deductions was £5,544 (£5,544 2024125) and annual expenditure for insurance and accountancy fees totalled £1,091 (£1,047). The concerns over our insurance policy were resolved following a Zoom meeting with our provider- Grout Insurance. Maintenance costs were £81338 (£1,971) and we continued our membership of the Almshouse Association- £284 (£275). Due to the increase in maintenance costs, Expenditure exceeded Income by £51215. Our long-term deposit with Lloyds Bank matured on 04.09.25 and
the funds, £10,800, were transferred to ourCCLA (COIF) account. At 31.03.2026, the CCLA (COIF) account totalled £95,012 (£90,098). All Trustees served in a voluntary capacity and incurred no administrative costs. On behalf of the Trustees Mrs Gillian Burnett Trustee 2. June, 2026 RESPECTIVE RESPONSIBILITIES OFTRUSTEES AND EXAMINER The Charity's Trustees are responsible for the preparation of the accounts. The Charity's Trustees consider that an audit is not required for this year under section 144(2) of the Charities Act 2011 (the 2011 Act) and that an independent examination is required. This has been undertaken by James Palmer ACA of Bright Brown Limited, Chartered Accounts, Exchange House, St Cross Lane, NEWPORT, IW PO30 5BZ. No matter has come to his attention. A signed copy of Income and Expenses recorded during 2025126 can be found on the following page.
Worsley's Almshouses Income and Expenses: oi April 2025 to 31 March 2026 Fixed Deposit Interest 624.32 HMRC Insurance 150.00 Deposit Interest 75-55 Almshouse Ins Policy 761.37 Pre-merger Vesting Declaration Fees 1,513.00 The Almshouse Association Membership £ 284.00 Bright Brown- Independent Examination £ 180.00 Transfer of Term Deposit Funds to COIF £ 10,799.80 Room Hire 18.00 Docurllentation from IW Record Office Bank Charges More LettiriE4 @ £1,386 (le55 comrnis5ion) £ 5,544.00 Almshouse5 Maintenance 5.00 76.50 £ 8,338.46 Residents Meeting Expenses AA Workshop- Bournemouth 65.63 AA Workshop-wightlink 23.00 110.00 Ref und of Wightlink Invoice 65.63 Concessionary TV Licences Nos 27 & 29 £ 15.00 Concessionary TV Licences Nos 27 & 29 15.00 6,324.50 £ 22,339.76 Lloyds Bank. Lloyds Bank Deposit Alc £ Temi Dep051t 04.09.24 £ 8,235.06 10,944.26 10,175.48 £ 29,354.80 £ 35,679.30 Lloyds Bank Lloyds Bank Deposit Alc 2,819.73 10,519.81 £ 13,339.54 1 35,679.30 COIF @ 31.03.26 Bank Account5 95,012 13,340 to8,352 Accounts prepared by Date: 04 Mayp 2026 Gillian Burnett- Treasurer Examined by AM85 faLMcYL thcq Date: z61s1L6