REGISTERED CHARITY NUMBER: 2110183 ItEPORT OF THE TRUSTELS AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31sr DECEMBER 2024 FOR LEATHERHEAD UNITED CHARITIES Ellis Atkins Chartered AccouTrwits Statuiory AUdIr Consiable Court 62 DerK Strect Dotklng Surrey RH4 2DP
LEATHERHEAD UNITED CHARITIES CONTENTS OF THE FINANCIAL STA TEMENTS FOR THE YEAR ENDED 31ST DECEMBER 21b24 Page Report of th¢ Trustees Report of the Independent Audllors Statement of Flnanclal Adiviti¢S Bal4Dc¢ SI Notes to the FlnaKlal Slalejnents 9 to 15 Delalled St8temtnt of fIn4D¢1 Adlvlt1¢5 16 10 17
LEATHERHEAD UNITED CHARrfIE5 REPORT OF THE TRUSTEL FOR THE YEAR ENDED 31ST DECEMBER 2024 The SleeS present their re)rt with the fi[wl21 st8ments of the chariiy for the year ended 31 st December 2024. The iru%tees have adopted the pr()VLSLons of Accounting and Rewkrting by ChaTities". Std¢emeTrt of Recotntllended Ptiictice appli¢able to ¢hariues prepthr)E their a¢¢ounL Ifb att0[de with the Financial Rew>ning Stsnddrd dpplicable in the UK and Republic of Ireland IFRS 102} leffefflive l January 2019). CHAIR'S INTRODucfioN 2024 Tepresenied anoih¢r busy year for ihe charity where were able io expand the number of beneficiaries by stret)hell1ng our links with other chariiie% and wmTnuni¢y oiganisations working with vulnerable people in Leaih¢rhead. These organisaiions include The Meeiing RcK)m: Mole Valley Citizens Adviee- All Saint5. Pre-school. aj Leatherhead Trinily School and Nurrry. Our biggesi restrt)nsibility. and area of eXNI1[Ure. is the wovixion of alm% house accommodation. Repair and mainteThance ¢o.st% h2ve in¢rear<il significanily in recent years. Fortunately the in¢rea%ed rcnL% gencrated by refuTbi%hing our invesim¢ni prop¢nies in Surbiton has enabled the chariiy to coniinue io invest in our alnLs houses and piep4we plan% for future investmeni. Ot) behalf of ihe charity I would like exprets my 8Miiude to Henry Smiih Chariiy for th¢ir gr4mi award of £7,4(X). Thank you also to my fellow misiees and our employees for their contribution io the work of the ch&iiy during the year. Simon Moss Chuir OBJECTIVES AND AcfiviTILS Objectives and alms The principal objectiYe5 of the charity are.. A. The proviSLon and mana8ement of housing for peopk in need in the of Mole Valley Disirici Council. This objeetive ]% fulfjlled by delivery of housing and support services lo people over th¢ age of 55 living in Almlihou commodd¢ion, There are 30 uniL% of Almshou%e accomm(KiLliOn in four Leaiherhead locolions. 28 of the uni1% have waJden a8SiSted alarms conneCd io Mole Valley Telecare in the event of an emergency. B. The provision of grants and pensions for those F¢ople in need in the are4 of the Old I[herhead Urban Di¥trici Council, Thi5 objective is fulfilled by working in yaJtner5hip with IIKal charities ar communiiy orgdnisaiions to identify ihose people most in need of granLS and pensions. Throughout 2024 the Charity di%tributed a ioial of £?9,058 12023 £28,413) 8rants arKI pensions individuajs. families awj i)rganisaiiorLS in Leaiherhead. Publ1¢ benefit The Iru5tee5 confjrm thar ihey have referred 10 the 8uidance ¢ontained in ihe Charity Commi%sion's general guiddn¢e on public benefit when reviewing the chariiy's aims and obje¢uves and in plannin8 fuiurc aciiviiies. The trus8 refer to public benefit throughoui this report. Gr8ntmgking Under the ierms of a Scheme of 7 January 1971 approved by the Charity Commi*sioners, Ihe Trustees can make grants to persons resident in ¢he former Urban Distrta of Lththerhead 11herhead. A%h¢ead. Fe¢cham and the Bookhamsl who ure in condjiion of need. hatship or distress. either directly or via an insiiiuiion. Preference 15 given to persons resident itl the area of ihe Parish of i£aihcrhead as nStitUted on 27 Sepi¢mber 1912. Page I
LEATHERHEAD UNrrED CHARrrILs REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31ST DECEMBER 21124 ACHIEVEMEr AND PERFORMANCE Charitable actiTrities Throughoul the year the charity Continued io supp)rt beneficiati&% with th provision of good qudlity. low cost alms houses. The accomm¢)daiion is well mainthined. secure and cornpliallt with laJ10rd healrh and safety legislation. The cost io repair and Thintain properties has irKreased signifiGqnily Since 2022. During the year the charity upgraded the fiTe alatm System at our Hornefield 5iie- Ins14Llled four erwy efficient boilers ai our alms houses: completed the conversion of ihe office inio a one bethoom fi- refurbhshed a vacant alms house property., tefurbi5hed an investment propeny.. and commenced the refurbishment of another invent property to be completed irk 2025. The incr¢ased in¢ome received from refurbished inverfment pioperties ensures charity is in a gOj financial POSLtion ¢0 mainiain long term repair and maintenance of alms house accomm(Mlation. During the year the Charity dev¢lotd further links wilh loca] chariiies and communily organisation% WOTking with the most vulnerabl¢ peopl¢ livjng in Lea(herfad. The ChIlY piovided grants to four organ%iations increasing the number of b¢n¢ficiari¢s supponed by ihe chariiy. The range of organi.%aiiorn% that work with the chatity demonstrai4s the awdr¢n¢ss in the local communiry of the work undertaken by the charity. FINANCIAL REVIEW Flnanclsl posilion The Chariiy gerteld ll %urplus for Ihe year of £1 18.75412023- d¢fici¢ 1£26.48411. This wa% largely due to a reduction in %pend on Surbiion proFrtie5 [ling 41 de¢ision on ihe development %trategy of the Vdcdnt properlie% at 110 and 134 Brighton Road. £30.394 of ¢osis rela¢ing io the development of 110 Brighion Road have been capiulised dnd ar¢ included in ¢he accounts a5 an inve%tmcnl property improvement. This SUTplus includes an unrealised 8ain of £40,931 in the rket value of Ihe shares purchased in ik Quilier Chevioi Global Income & Growrth Fund. Tht eharity spent £70,303 on r¢pairs io ihe Brighion Road inve#meni prOFertI excludins ih¢ £30,294 meniioned above and Council Tax on empty propeflies which will be offs. ei by future higher r¢niJl% negoiiaied with private tenants. Reni increa.4ed from £117.934 10 £129.888 bui includes significanl voids wilh 110 Brighton Road and 134 Brighton Road being empty for ihe whole year. The 5% annudl in¢rew in maintenance coniribuiions from April 2024 has b¢¢n off.*¢ to .%ome exient by void5 on Flat 10 Homefield and Flat 4 ske House. Although mainiendn¢e oniTibu¢ionb dnd rent have incrt4Lsed arrears of tKJth have also increased resulting in an increase in bad debt provision of £IO,IKK). Overall invesiment property arml a]nhouse costs decreased from £321.679 in 2023 10 £187,076 and salarie5 Lncreased by 6.7%. The toiai ofr¢rLsions and grants awarded in the year was in line with the previous year. Investment lIcY and objeclives The chariiy h&$ d mixed e¢hiral inve51merit portfolLQ jDcorporating furmls managed on d discr¢iitsnary basi5 by Quilter Chcviol A&%ei Mdndgement Limiled. Quilier Cheviol have a remit to invest iTh a balan¢ed portfolio cornprised of equiiies. fixed inieTe.SL cash wi¢h a rncdium risk profile whi¢h Will. over Ihe long Lerm, maintain the real valuc of the a5%Cts. There no specific iestriclions other than thai the iiive5trncnts should be suitable for trusts. In order to monitor progress. Quilter Chevioi A%sei Management LÉrnited provide quarterly capital performance reports. The repon% will include the tnovemeni on the Ff All Share Index over the same period. A review meeiing with Quilter Cheviot A%.sei Management Limited is held once in each year. The chlirity owns 10 properties let on a commercial basis. 6 of ihe prOnieS have been refurbished generdtin increased income. The and Ion8 tem objectives of the investment FM)rtfolio 15 10 enable the thtY to afford 10 mointaith good quality alms house stock and io develop future plans io incre&se t number of benefjciaries of alms house a¢com]Th)dation. Reserves wlicy The ChltY n1n12]ned a level of reserve.s such that it will be able to net any foreable repair5 or ienewals of its asset5. The level of reserves held is shown in the bala[e sheei &$ £7.797.8 bui of thi% amount £7.572.473 consists of prortY and fixed a55et inve51ments. Page 2
LEA THERHEAD UNITED CHARrriES REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31ST DECEMBER 2(124 STRUCTURE GOVERNANCE AND MANAGEMENT Govtrnlng documtnt The charity 15 controlled by its 8overnin8 documenL a deed of trust and constitutes an unincorporated charity. Charity cotitutIon L£atherhead United Charities 15 con5tirnied uler a Tn]si Deed 7 January 1971 al is a registered Charity. no. 200183. Recruitment and apTMbinlment of new tnLsi¢es The Ex-officio Trustee is the Rector of the Ecclesiastical Pan"sh of Si Mary Si Nichol&s, itatherhead. The Nomjnative Trn.stees Jre appointed by Mole Viilley Dbstyict Council for four year tenT)% and the Co-opiative Tru5tee.q. appoInd for five year ¢ernis. are perwll5 residing or carrying on business in or near i£aiherhead. The TTUSte£5 hold quunerly meciin85 to rnoniior financial and 0r[LOal perforn)anee. TnS meet when required 10 do .80 10 review grant applications. Org4nlsallonal structure The body of Trusiee5 cori%islS. when complcte. of seven PEf50Th5 being Ex-officio Tru5te¢. three Nominative Trusiee.% and three Co-OP14Ltive Trustees. REFERENCE AND ADMINISTRATIVE DETAIIS Registered ChArity number 200183 Prlncipal addre&s Honrfield Forty Fool Road Ltatherheud Surrey KT22 8RP Tnlee$ S Mo%$ Chairman Cllr K Vyvyan-Robinson Cllr G Par%ons J Brinker A Clark C AndTeW Audl¢or5 Elli.% Aikin Chartered Ae¢ounw)is Siaiutory Auditor Con%iable Court 62 Dene Street Dorkin Suttey RH4 2DP Sollcltors Anihony Collins 134 Edniund Street BstJningham B3 2ES IDwe5tmen¢ Advtsers Quilter Cheviot Asset Managemeni Limi*d One King5way London WC2B 6AN Pa8e 3
LEATHERHEAD UNITED CHARITIES REPORT OF THE TRUSTEL% FOR THE YEAR ENDED 31ST DECEMBER 2024 STATEMENT OF TRUSTEES. RESPONSIBILrr The tTU%teeb are Te%pon%ible for preparing ihe Repon of the Trustees and the financial sL%tern¢Thts in ac¢ordaThc¢ wilh applicable law and United .g)rn Accounung Sthndards (United Kingdom Generally Acceptrd Accounung Practice). The law applicable to charitle5 in England and Wales. the Chariti<s A¢1 2011, Chality (Accounts ar Reports) Reglllaiions 2W8 and ihe provisions of Ihe trusi deed requires ihe trusiees ¢0 prepaie finlincial %taieThents for each rinancial year which give a trne and fair view of the Sta of affairs of the charily and of the incoming resources and application of resources. inclvding the and cxpenditurq of ihe chariiy for period. In preparing ihose rI¢al statemenL%. the irusiees are required select suitable accounting policies and then apply ihem consimendy: observe the meihods and priThciples in the ChJ¥iiy SORP: Iniike judBemenis and esiimaies thai are reasonable and prndeni: prepare the finan¢ioJ s¢aiements on the going concern b&sis unless it is inappropria* ro presume the chariiy wll coniinue in business. The ITus¢ees are respon$ible for keeping prop2r accouniing records which disclose with reasonable accuracy at any time ¢he financial POSLtion of the charity and 10 enable Ihem io ensure thdi ihe fknancial statements comply with ihe Charities Act 2011, the Charity IA¢¢oun¢s and Report%) Regulation5 28 and Ihe provisions of the irusi deed. They are al re%w)nsible fo¥ safeguardin8 the &s&ei$ of the chariiy and hence for tsking re&sonable steps for the prevention and deiec¢ion of fruud and oiher irr¢gulariue$. Approved by order of the board of iruste¢s c 3 Oaober 2025 and signed on its behalf by.. Siwon T Siiiioi! T A No4S loci 15,202$09..41J3 GMT+ii........ S M045 - Trusie¢ Page 4
REPORT OF THE INDEPENDENT AUDITORS TO THE TRUSTEES OF LEATHERHEAD UNITED CHARITIES Opinion We have audited flnancial Statements of 1helead United Chariues (the 'charity'l for the year ended 3 Isi December 2024 which cotllPri5e Ihe Statemeni of Financial A¢iivities. the Bae Sheet and note5 to the financial stJiemeThts, ioclllding a summary of signifjcant accounting policies. The financial reporting framework that has been applied it) their preparation is applicable law and Unld Kingdom Accounting Standa$ IUn¥ted Kingdom Generdlly Accepted Accounting Praclicel. In our opinion the financia] statements.. give a true and fair view of the S¢ of the charity's affaits as at 31s1 December 2024 and of its incoming resource5 and application of resources. for the y&qr then erhded., have been properly prepared ITh accordance with United Kingdom Gerd11Y Accewed Accounting Pra¢iice: aNi have been prepared in accordan¢e with the requirements of the Charities Aci 2011. Basts for oplnlon We conducted our audit in &i¢corth¢e with Iniernational Standards on Auditing {UKI IISAS IUKII and applicable law. Our respon%ibilLti¢s under those standards are funlKr described in ihe Audiiors, responsibilitie.% for the audii of the financial staMelS section of our Tepon. We are iThdependeni of the chariiy in accordance wilh thc eihical re4uiremenL8 thai relevant to our audii of the finaocial staL¢menis in the UK. including the FRc, Ethicul Siandittd. and we huve fuif)Iled our oiher eihicai resw)nsibilitie$ in accordance with these reqUirenn(S. We believe thul the audit evidence we have obtained is sufficienl and appropriate to provide a basi% for ouropinion. CoDclwions reloting lo going conc¢rn In auditing ¢he fiNncial %iaiemenis. we have cOlded thai the mIss, us¢ of ih¢ going concern basi5 of accounting irt Ihe preparaiion of Ihe financial siaiemenis is appropriaie. B Tr%ed on the work we have performed. we have rtt)t identified any material uncertainties relating ¢0 evenL8 or condition$ Ihai, individually or eoll¢eiively, may casi shgnificani doubi on the charity's abiliiy io conrinue a% a going concern for 41 period of at leas( Iwelve months from when ihe financial thrnents are authorised for ie. Our rcsponsibilitic% und thc responsibilities of the ¢ru51ee5 wilh respect to 80in8 concern are described in the relevant -4eclion% of Ihis report. Other Informatlon The trll%iee% re.%pon$ible for the other inforn)ation. The other infommiion comprises the information included in the Annual Rep)rt, other than the financial.%tstements and our Report of the IndeFendent Auditor5 ihereon. Our opinion on the fin4tncial 5thtennts dLS noi cover Ihe other infOrnli0Tr ar. excepi io Ihe exienl oiheTWiS¢ explLCltly %thted in our report. we do expres5 any forni of rance ¢onclusion thereon. In conneciioTh with our audil of the fJnan¢iJl siaiements. our reSp)$1b11ItY is 10 read ihe other inforrnalion and, in doing so, consider whcthcr the other informaiion is maierially IOnSI$l¢Tri with ihe financial s¢4iements or our knowledge obiaincd in the audit or oiherwi%e aPar$ io be maridlly mibslaied. If we identify such maleTi4LI incon5is(encie5 or apparent maierial mis51aiements. we required io detemiine whether ihi5 Bives rise to a material misstalemeni in ihe financial 5tatemcnt5 Ihem%elves. If. b&%ed OTh the work we have f0[ed, we conclude that (Ire is a material InLS5t&temeni of this oth¢r informaiion. we are required to report thai fact. We have nothtn8 to report in thL5 regard. Matters on which we are requlrtd to report by exception We have nothitjg report in re5ct of the following matters where Cthariiies {Ac¢ounts and Rep)1 RegulatLOiIS 2008 quireS U5 to report to you if. ITh our opinion-. information given in the Rert of the Trustees 1$ irKonsi$ni in any tnalerial re5Ct with the fJThancial %tatement.5,' 01 sufficieni llccouTrun8 records hthv¢ no¢ been kept: or the financial.4t3t¢mentE are [t in agreemeThi wilh the aeeoutliing re¢ottls and returns: or we have not received all the infom*ion ond explanations we require for our audil. Page 5
REPORT OF THE INDEPENDENT AUDITORS TO THE TRUSTEES OF LEA THERHEAD UNITED CHARrriES Responsibilities of ¢Thte¢S A% explained more fully in the smen1 of TAle¢s. Resp)nsibilities. the mjsw are responsible for the preparation of the financial siatemenis which give a true and fair view. and for such iniernal control a5 the trustees deteimine is necessary io enable the prepardtion of financial statrments thai are fTee from Material misstaiement. whether due to fraud or error. In prep2ring ihe fjnaneial StrMents. the trUsS are resp)nsible for assessing the charity's abiliiy io conrinue as a going concern, disclosing. applicable. maiters related to going con¢em aThJ using the going cOern basi8 of accounting unless the trustees eitlr inter¥J to liquidatr charity Or to C¢ operdtions. or have no realistic alrnatIve bui to do so. Our resnsibIlItieS for the audil of the financial st¥¢ements We have been dppoinied auditors under Seciion 144 of the Charities Aci 2011 and report in accordance with the Aci and relevani regulations made or having effect thereundcr. Our objectives ar¢ io obtain reosonable ossurance aiK)Ut whether the firthncial s¢aiements as a whole are fr¢e from material mis514Llemerhi. wheiher due 10 fraud or error. and io Issu¢ a R¢p)n of ihe Indendent Auditors ihai includes our opinion. Re&%onabl¢ &ssurJn¢¢ is o high level of assurance. bui is r1 a guaraniee tha¢ an audit condu¢ied in accord¢ with ISK% IUKI will always delect a material misstsiemeni when it exisL%. Missutements can ari%e from fraud or error and are considered material if. indLVLdually or in the aggrega. they could reasonably be expected to influence the economic deci5ion5 of users taken on th¢ b&sis of these firwncial sthrements. The ¢xt¢nt lo which our prcttduTes are Capable of derfing Lrre8ularilies. including fraud is detailed below.. ETh4uiry of the Nstees and key mana8emeni about intial litigation, review of the rninutrs of meeiings and review of 4Llly si8nifLcanl IransactLOTh% OUISLde the norniai xiiviiies of the charity. A funh¢r dexrip¢ion of our responsibililies for the alit of the fin1[ stst¢ments is locawl on the Fit)ancial Reporting Council's website 41 www.frc.or8.uklaudiiorsresponsibiliiies. This deription forms pan of our Report of ¢he IDd¢pendeni Audiiors. Use of our report Thi% repon 1% made solely io ihe Chariiy'.$ tnjstees, as a bLKly. in accordanc¢ Wilh Parn 4 of ihe Charities (Accoun(% and Reponsl R¢gulaiion% 2(K)8. audii work h&s been uThlenak¢n w thai we might s¢aie 10 the charity's trustees Ihose matters w¢ are r¢quired ¢0 sl<e 10 them in an aj1[Or5. report dnd for no other purpose. To the fulle51 exienl permitted by law. we do not aecept or i8sume resw>nsibilily to IyOt oiher than the Chariiy and the charity'% trustees as a body, for our Judii work. for this rep)N or for the opinions we have fi)rnKd. Ellix Atkins Chartered AccountaThts Statulory Audi(or Constdble Coun 62 Dene S¢r¢e¢ Dorkin8 Surrey RH4 2DP Date.. Page 6
LEATHERHEAD UP41TED cHARlL$ STA TEMENf OF FINANCIAL ACTJVITILS FOR THE YEAR ENDED 31sr DECEMBER 2024 31112124 Unrestricled runds 31112123 Total funds Notes INCOME AND ENDOWMENTS FROM DoThaiions at)d legacies 7.4(Kl Charitable activitie5 mgeMent of aljnshouses 218,274 199.763 Inv¢stmeThL income 152.781 144.210 Total J78,4SS 351.373 EXPENDITURE ON Ch4rltable activitles Mdnagenieni of dlm.%houses Provikion of grants and pensions 160J29 140J03 188.379 246.326 Total 3110.632 434,705 Ne¢ gain$ on investments 40,931 56.848 NET INCOMEJ{EXPENDITUREI 11&754 126,4841 RECONCILIATION OF FUNDS TotsLI fund5 brought fon¥ard 7.679.0511 7,705.534 TOTAL FUNDS CARRIED FORWARD 1)4 7.679.050 The no5 forni part of these finala1 $te¢[ Page 7
LEATHERHEAD UNITED CHARrr BALANCE SHEET 31sr DECEMBER 21124 31112124 Unrestricted funds 31112123 Total funds Notrs FIXED ASSETS Tangjble assets Investments Invebtrnents Investment propeny l J64.917 1,528.835 752,262 5 255 294 861.351 5.225.(KM) 7,S71473 7.615,186 CURRENT ASSEIS Debtors C&sh at bank 10 14J46 223.453 1,427 80,294 238299 91.721 CREDITORS Amoun1.% falling due within one year 112.9681 127,857} NET CURRENT ASSETS 225 1 63,8 TOTAL ASSETS LESS CURRENT LIABILITIES 7.797,804 7.679.050 NET ASSETS 7.797,804 7,679,050 FUNDS Unre%lricted furtds 12 7 679 050 TOTAL FUNDS 7.679 050 The fJnan¢ial Siaiements wrre apprOd by the Board of TNstee$ ad authorised for issue on Friday 3rd October 2025 and were $i8ned on its beha]f by: Siwo# T Moi Sjnigll T l..Mp.s?.lQ.<i.1,Rp2&...41..33 GMT+l} S Moss- Tru5(ec kohinw.n IQRtALIo15 IiF.44-.22 GMT411 K Vyvyan-Robinson- Trumee The notes form part of these financ1 ststrnxnts Page 8
LEATHERHEAD UNrrED CHARrrIKs NOTES TO THE FINANCIAL STA TEMENTS FOR THE YEAR ENDED 31ST DECEMBER 21124 ACCOUNTING POLICILS Basls of preparitsg the flDaD¢ial sta¢eJDtnts The fin(In¢ial .%talernenLs of the ¢h4rily. whi¢h is a publi¢ befil eniily under FRS 102. have l*en prepared in accordance with the Charilies SORP IFRS 1021 'Accouniing and Reporting by Charities.. Sthiement of Recommended Prn¢ti¢e applicable io ¢harities prepwing their accounts in accordance with the Financial Reporting Stand<ird applicable in the UK a[ Republic of Irela[ {FRS 102) leffeclive l January 20191,, Financial Reporting Standard 102 The Financial Reporting SLqndard applicable in Lhe UK and Republic of Ireland, and the Chariiies A¢¢ 2011. Tr financiaj $Tements have been prepared under the hisiorical cosi convention, wilh ihe excepiion of inve%iments which ate included at market Value. &% m(rflifJed by ¢he Tevo]uaiion of certain assets. Jn¢ome All income is rewgni%¢d in lh¢ Siatenyni of FInala1 Aaiviiies once ihe chariry has enridemeni the funds. it is probable ibai the income will received ond the an can be nwured reliably. Expenditure LiJbiliiies we recognised &$ expenditure as soon as ihere is a legal or Consiructive oblig411ion Commitling the ch£Wity to th<it expenditure. it is probable that a irdn%fer of econonuc benefiis will be required in seiilemenl and the Jmount of the oblsgaiion Can be nKasured reliably. Expetwjiiure is accounted for on an accruals b&%is and has been classified under heading% thai i188regaie all corf related to the category. Where costs C4Lnnol be directly aitribuied to particular headings they have been allocated tts aclivLltc% on a consi5tcnt with ihc use of resourees. Grantli offered subject to eotKliiions which have been mei * the year end date are noted as a eommitment bui noi ¢nIc expeThJilUIe. T4n%ible tlxed Assets Depre¢id(ion is provided at the following annual rate5 in order to Wri off asset over its esiimaied useful Fixiures al fiiiings IO% on c05t Inv¢stmen¢ proptr¢y Inveiimeni property 15 51K)wn at mosl recent valyaiion. Any aggregatr surplus or deficit ari%in8 from ehart8es in fair ¥u¢ li re¢vgnibed in the Statemeni of Financial Aciiviiies. TaxAtIo The Lharily is excmpt from tax on lis charithble 1vill¢s. Fund accountlng Unrestricted lund% Can be used in accordance with th¢ chan"Mble objectives ai the discretion of ihe tru5tres. R¢%tricted fuThJs can only be used for panicular restricted purp05e5 within the obj¢¢LS of the charity. Resiriciions drise when 5ttcifLed by the do[r or whet) funds are raised for particular restrided puryx)¢t5. Furth¢r explanation of the nature and purpose of each fund is included in the tleS 10 the financial Statements. P¢nsioD costs And other post-tIren¥n¢ benefits The chilrity operates a defjned ¢o#tribulion pension scheme. Conthbutions payable io the chariiy's pension scheme ar¢ rhatgtd to the S(aiemeni of FindUla] AciLVLiies in the peri1 to whiob they relate. Page 9 continued...
LEATHERHEAD UNITED CHARITIES NOTES TO THE FINANCIAL STA TEMENTS . continued FOR THE YEAR ENDED 31ST DECEMBER 2024 INVESTMENT INCOME 31112124 31112123 Renis receÉved Dividend itKome Deposit accounr iDierest 129.890 22.667 224 117,932 26,278 152,78J 144.210 AUDITORS, REMUNERATION 31112124 31112123 Fee% Pilylible to the charity's auditors for the audii of ihe charitS financial statements Auditor5. remuneration for non audit work TRUSTEES, REMuf4ERATION AND BENEFITS There were no ¢nLsiee8' remuneration or Thher benefits for th¢ yegr Cled 3 1st December 2024 Thor for the year ended 3 Isi December 2023. Trustees, expense8 There were no irusiee$' ¢xpense$ paid for the year ended 31stDecember 2024 nor for ihe year ended 3 1st December 2023. STAFF COSTS 31112124 31112123 Wages and salaries Other F¢nsion cos 49.423 46.301 4.632 The averuge rnnthly nurnr of employees during the year was as follow5: 31112124 3111Y23 Average number of employees No employees received ¢nKJluments in exceu of £60.IMKI. During th¢ year ¢0 3151 December 2024 renjuneration (including employer's nattonal insurance and pension contributions) paid to key rnana8emeni was £42.249I223- £39,596) Page 10 continued...
LEATHERHEAD uf41TED CHARrriFS NOTES TO THE FINANCIAL STATEMENTS- continued FOR THE YEAR ENDED JIST DECEMBER 2024 COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES UnTestyicied funds INCOME AND ENDOWMEf4TS FROM Donations and lega¢ics 7.4(M) Charitable activitie5 Management of almshouses 199.763 Investment incom¢ 144.210 Total 351.373 EXPENDITURE ON Charitable activities Mun4Lgemen( of almshouses Provi%ion of 8ran15 and pensions 188.379 246.326 Total 434.705 Nei gains on investments 56.848 NET INCOMEIIEXPENDITURE) 126,4841 RECONCILIATION OF FUNDS Toial fund% brou8ht forward 7,705.534 TOTAL FUNDS CARRIED FORWARD 7,679.050 TANGIBLE FIXED ASSETS Fixtures and rirtings Frtthold property Totals COST Ai 1st January 2024 AdditLOnS lJ25,980 1594,986 36.082 13 Ai 3 1st De¢ember 2024 DEPRECIA TION At Isi January 2024 arld 31st December 2024 NET BOOK VALUE At 3 Isi December 2024 1548.834 64,917 At 315t December 2023 1525.980 2,855 1.528.835 Page II coniinued...
LEATHERHEAD UNITED CHARrn&s NOTES TO THE FINANCIAL STATEFtrlENTS- continued FOR THE YEAR ENDED JIST DECEMBER 2024 FIXED AssEf IVTmEa3 Listed investtnents MARKET VALUE At Isl January 2024 Disposa15 Reva]uations 861.351 1150,020) At 31& Decemtrtr 2024 752.262 NET BOOK VALUE At 31si December 2024 752,262 At 31.%t December 2023 861,351 The market value of fixed asset inve5tm¢nts in ov¢rsw ¢ompanies is nil. Co4¢ or valuaiion ai 3181 December 2024 is rePres¢nd by.. Llsted Inve5tmertts Valuaiion in 2021 Valuaiion in 2022 Valuation in 2023 Valuation in 2024 Cost 611,808 192,695 56,848 411,931 1150 020} 752362 INV&STMENT PROPERTY FAIR VALUE At 181 January 2024 Additions 5,225.IMKI Ai 31$1 December ?024 NET BOOK VALUE Ai 31si December 2024 At 315t December 2023 5.225,(KX) Fair value ai 31st December 2024 is repte5ented by: Vduation in 2021 Valuation in 2022 Valuation in 2024 43,01m 935,& Page 12 continlled...
LEATHERHEAD UNITED CHARIT NOTES TO THE FINANCIAL STATEMENTS- continued FOR THE YEAR ENDED JIST DECEMBER 2024 INVKSTMENT PROPERTY . continued The Brighton Road and Church Street investment Propertics were revalued to £5.225,(MM) in 2022 b&sed on a fornJa] valuation by Winkwonh Esiaie A8ents.The trustres have reviewed the cuent fflarket cor)ditions and consider ilu"s figure is stsll a fair valu¢. thlring 2024 the chariiy spent £30.294 on the redevelopnt of 110, Brighton Road. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 31112n4 31112123 Oiher d¢b¢ors Pfepaynxnts 10960 7.541 3.886 14 11,427 CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 31112A4 31112123 Trade creditors Tuxation Lind social security Other creditors 15.888 3,424 8,545 757 12.968 27.857 12. MOVEMENT IN FUNDS Net m(Trvem¢ni in funds Ai 31112124 At 111124 Unresirlcted funds General fund 7.679,050 118.754 7.7970114 TOTAL FUNDS 79,05(1 118.754 7 7973114 Ne¢ movement in funds. irtluded in the aiYJv¢ are as follows: Incoming Resources expered Gain5 and Movement in fund Unrestrlcted fund$ General fund 37&455 1300ffj321 40,931 118.754 TOTAL FUNDS 131MI.632) 118.754 Page 13 Coniinued...
LEATHERHEAD UNrrED CHARrr NOTES TO THE FINANCIAL STATEhlENTS- Cont1Utd FOR THE YEAR ENDED 31ST DECEMBER 2024 12. MOVEMENT IN FUNDS. cont5nued Comparatives for movement in fwmis Net vement in funds Ai 31112123 At 111123 Unrestrided fuDds General fund 7.705.534 {26.484) 7,679,050 TOTAL FUNDS 7.705.534 126.4841 7,679.050 Comparative net movement in fund5. iwluded in the alw)ve a as follows.. Incoming resources Resources expered Gains and losses Movemertt in funds Unrestrleted funds Generiil fund 351.373 (434.7051 56.848 {26.4841 TOTAL FUNDS 351.373 434.7051 56,848 26.4841 A curreni year 12 nTrih$ aThJ prior year 12 months cornbined posiiion is as follows.. Net movement in funds At 31112124 Ai 111123 Unrestricted funds General fund 7.705.534 92,270 7.797,804 TOTAL FUNDS 7.705.534 92.270 7,797,804 A curreni year 12 months and prior year 12 nb)nths Combined Verni in f$, iluded in the above a &5 follows.. Incoming Resources expended Gdinq and Movement in furlds Unrestricted funds G¢neTal fund 729.828 (735J371 97.779 92.270 TOTAL FUNDS 729.828 735.337) 97.779 92,270 Page 14 coniinued...
LEATHERHEAD UNITED CHARITIES NOTES TO THE FINANCIAL STATEIENTs- continued FOR THE YEAR ENDED 31sr DECEMBER 2024 ij. RELATED PARTY DISCLOSURES There were no relaied party transactiorLS for the year ended 31si December 2024. Page 15