PLEASE - AND RETUFI;,, Charity registration number: 200230 RegUla￿r of Social Housing registration number: A0211 AYLOTh JANES ALMSHOUSES FINANCIAL STATEMENTS FOR THE YEAR ENDED 11 DECEMBER 2024 Mill¢r & Co Cbartered Aecountsnts Sratutory Auditots 5 ITnperial Court Laporte Way Luton B¢dfordshire LU4 8FE AYLOTT JANES ALMSHOUSES CONTENTS OF THE FINANCIAL STATEMENrs for the Year Ended 31 December 2024 Pag¢ Registered Soelal Houslng Provider tnform4tlon Trustees Report Report of the Independent Allditor5 Statement of Comprehensive ltteome Balance Sheet Statement of Ch4D%es irt Reserves Statsjnent ofc45h Flows Notss to the fuJaoci#l Staternents 12 AyLo￿ JATrIES ALMSHOUSES REGISTERED SOCL4L HOUSING PROVTDER INFORMATION for the Year Ended 31 De¢etllber 2024 STATUS: Unia¢orporated charity registeted 15 January 1963 Charity Registered Nwnber 200230 Reg￿latOr of Social Housill8 NumberA0211 TRUSTEVS J Young OTHER TRUSTEES: C Tolleryey P Banks-smtth KA Cowan Father R Browll Councillorj Hussain Collocillor F Begum Coutt¢illor C Isles K Porter (Appointed 13 Sanuary 2024) Couttcillor S Sbahanara (Appointed 15 July 2024) Coun¢illor A Khatt (AppJitk*d 15 JLEly 2024} Counclllor M Hus5ain (Appointed IS July 2024) (Resigned 12 January 2024) (R¢sign¢d 15 July 2024) (Resigned 15 July 2024) CLERK TO THE TRUSTEES: DullcaTh Wclch & Co REGISTERED OFFICE: Peterson House 2¥ T¢nnyson iioad Luton Bedfordshi LUI 3RT AUDITORS: Millcr & Co 5 tmperial Court tAporte Way Luton B¢dfordshire LU4 8FE Metro BaDk 10 . 20 Castl¢ Street Luto B¢dCordshire LUI 3AJ INVESTME1￿ MANAGERS: JMFinn&Co 4 Col¢D￿ll Street Londo EC2R STA Pa8e I AYLOTT JANES ALMSHOUSES TRUSTEES RIPORT for the Ye8r Ended 31 Deeember 2024 The Trt￿te&S prdgettt theirreport and the audited fmancial sthtements of the c￿lty for the year ended 31 December 2024. Thc finaTLci&I staiements bavc bcen prepared in ￿Cordance with applieable a¢cowiiing 5tandard5 ineluding Financial Reporting Standard 102 The FincncialReporftng St(￿d0*d applicable IA (ke United Kingdom andRepublsc of Irelund (FKS 102) and the SthiemeELt of Recommendcd Prnciice for Social Housing Pmvidet5 2018. The charity i$ rnallaged on a doy to day basis by th¢ clerk to tbe tTUStees. The Trustees arc responsible for th¢ overall managemeni of the charity and meet on & regu￿ b￿ls. which includes zn aTmual investtnent review wth the ¢harity's adipisors. The investment policy is a mcdium risk one which provides income and steady gro￿￿b. New trustCC5 id¢atified and &ppointed by the existing twstee5 wILerc they consider that the new have thc ne¢￿arY experience and 8biiity to Cott￿TrutC to the mallagemeTht of the charity Details of changes are reported oll page l. Obj¢ttiYes artd acrfvltles Thc object of the charity is to adtnituster th¢ 36 Alrnshouses bclon8tng to tbe chartty In confornjity with trust dee￿ The principal fjjnding of Ihe is therefore fbe contribution5 ￿ade by the t¢Dauts of the AlllLsILOU5es. The Trust¢es have ensured that the t¢nants of tb¢ Ahnshouses have been Content and ihai all Rpairs and wallts of reparation bave been dealt with as and wben Ihcy atos¢, and they will continue to do so ill the future. As far as they 8re &wBre the Trust¢¢s h&ve dealt witlk all recouhrnendatil)DS of th¢ Aln]shou5¢ Association and the Regulator of s￿la[ Housing. A¢blevements The cbarity off￿3 18 Single aud 18 doubk units at Queens Clos¢ and there was one unoccupied flal at the year ¢nd. During tbe yeat the stairwell landing ligbts undeTWeUt a complete refU￿]shmen( vartOU5 fl*ts had ckctrical rectification works and there was also one new boil¢r iDstalLation. R¢vlew of business The total eotnp￿hcttStve incom¢ of the chanty for the ycat was a surplus of £1 L2.251 (2023.. £72.409) which included a gain itt the fair valuc of investments of £46.89912023." £45,709). The investsnenrs ar¢ bcld spe¢ifLcally to fund extraordinary repairs. The total res¢ry¢s at the end of the year had increased to £1,676,075. The fthallci actlVLtLC5 01 th¢ Charity are set out ia detsil in the at￿ched finan¢i&l stytemenls. Thc Ch￿lty was in a sat15factory f￿anCIal position at th¢ year etld. Factors lik¢ly to affect future flnallcial P¢Efom)ance are the fair value of ibe inve5tllKllts 2nd th¢ nunjbcr and extellt of fiat refirbishoients 8nd any other unforeseen ￿JorbulldI￿g repair5. Ststement of eomplfiallce In preparing this report a r¢view of Ihc Cbarity's governance procedures has been Ulldettsken and the Charity complies with the HCA Govcrn8uce a[￿ Fiuancial Viability Staudard. Code of GoverD&nee The Association ¢ompli¢s with the principal recornmenda¢ions of the NHF Cod¢ of Govemance 2015. Pa8¢ 2 AYLOTT JANES ALMSHOUSES TRUSTEES REPORT for the Year Ended 31 De¢emb¢r 2024 Vglue for money V81ue for money is included as one of the aims of the Chatity. All major works undertaken are approved by lh¢ board not b&sed purely ott price but by the quality of the outcom& The wardcn is in daily corttsct with tenants WI￿se cottuuerLts OU ally issues 8TLd quality of work is ieportcd back to the boar￿ The board of n]allage]nent are all volun and expenses Claimed ore minimal. The rcsuit. 1$ increL$￿ to conknbutioll5 llode which are kept as low as possible and no more than itiflation. It) 2018 the R¢8ulator of Socia] Housing revised the Value for Nloney Stsndard setting out the nietrics to be r¢porf¢d. The following table sUn)D￿SeS the value for mollcy perfomiance of Aylott Janes A]mshouscs (AJA). Tbe Regulator for Social Housing Value for money Metri Reinvestment •/0 New Su Iv Dellyered Y. New Su l Delivered Social Housin Units New Su l Delivered on-social Housin Units CeArin EBITDA MRI lllterest Cov¢r O/ He8￿]ne Social Housill Cost Per Unit Per Anlluni eratill rtrlar eratiD CTatin Retyrn On C AJA 2024 AJA 2023 SPBM, 3.7W 2a 2b O•/0 168Q/o £5.395 £3,872 £4,669 Social Housin in (Ov¢r8111 It81 Em lo Lettin sonl 4.98 4.9810/0 (0.46)/ 13 34% ed 1.8301. 1.860/• Acuity B￿￿hr￿adcInS2O23 Reptsr4 P28e 15. The charity's obJ￿ts ar¢ to appropriatr and usc the 36 Almshowes belonging to the charity. thu5, no new supply w&5 delivered. A]so. the clwity ]]3s no boffowing or loans. so the first four metrics are nornlllly not applicablc to th¢ charity. The opuatillg Tnargin aud return on eapital kn.gbet this year mainly dll¢ to a decrease in ieqllired Iepair and maintenBnce c05L8. A150, the charity ctwges lowei tlwi average ¢onttibuiions which are Set iakiug i￿0 a¢couDt tbe ch￿ity's P8rticular circumstanees and requirements. Tellant 5ati5faction measures The TenaDt Satisfaction M¢a5urc$ Standard issued by th¢ Rcgulator of Social Housing caNLe Into eff¢ci fro(n the I April 2023. Register¢d providers Zllltst eollect And process inforniation sp¢¢ifi¢d by th¢ r¢gulitor relatitt8 10 their perfomwice against tbe tenant 5?lisfactioD measures, and publish their perforniance at least bi.annually as a $mall registered provide¥. We undeTtook a Tenaui Perception SuTh¢y in O¢tob¢r 2024. AII 35 residenrs were invited to parttcipate. not just asmail Sall￿1¢. 18 r¢5idcnts respond￿ which was over 50Yo participatio￿ wbich we con5ÈdEred w&% A very good level of assessment The overall score tbat Aylott Janes Altnshou5ES achiev￿ was 83.240/0. This fwire would have been higher if th¢ r¢5idents had fully eomplekd 211 quesiions. UDfothnately, sorn¢ Tesidents stsuggled to compreherLd a couple of the questions. We adoptd thc r¢commended 12 poini que5tiorLTraire ¢ompil¢d by The AItDshouse Association, but for the next one in October 26 we will ty aud addr¢ss thes¢ quesrions in a Jnore sirnple fashio The resÉdcnts havc 24 hour a day aeecss to thc onsite walden who hattdles any cotnplaints or rcqu¢sts r¢la¢ing ¢0 marrers requiring attcntion in a timcly manner. The r¢sid£nts also Eake up aoy issues tbey may have wilh the Clerk to th¢ T￿￿¢¢¢5 who visits ¢v¢ry month and directly with the Tr￿steeS wbo also make regular visits. Risk maDagetnent The Trustees have assessed the rnajor risks w wbich the Chariry is exposed, in particular those related to tb¢ fiDaDc¢s ofthe Trnst and are satisfied that systetns are in place to lessen our ¢xp05ur¢ w the mojor risk$ Page 3 AYLOTT JANES ALMSHOUSES TRUSTEES REPORT ror the Year Ended 31 December 2024 Reserve5 pollcy The Tru51ees have agreed a level of re5erve$ which tske5 into accowit the requirements of the Charitable acliviti¢s. This poltcy is reviewed regularly. Public benefit The T￿Ste¢S confhmi that bAve compli¢d with thcir duty, set out in the 2011 Charity Acl to have due r¢8ard to Chariry Commission guidance on public ben¢fit. STATEMENT OF TRUSTEES RESPONStBILITIES Th¢ Trnstees ate responsible for prcparing the report and r￿jaI 5taterllents in accordance with applicable taw a￿d r¢guEations. Thc Charities Act aad th¢ Reg¢si¢red Social Houstng legi$l&tÉon require th¢ Trustees to prepare f￿at1¢Yal staiernents for each fitlltte]al year wbich give a tDJe and fair view of the stste of affai[5 of the trust aThd of the in¢ome or expenditure of the ￿￿t foi tIHt period. In preparing those finaneial swem¢nts. the Tn￿teeS are required to select suitablc ￿¢0￿￿tillg policies attd apply tbem collsisienily. observ¢ the methods 2nd pEinciples in the Housing SORP 2018. make judg¢rnellts and esttmates that are rcasonable and prudent. S￿le wh¢th¢r applicable aceounttng standards h&ve been followed, subject to any material d¢partures disclosed and explaincd ill the finaneial sts(ements' and prepare the fwatLcial staten￿Lts on the going CODc¢m bas￿ unless it is inappropriate to PTesuTne that th¢ tnjst will coThtitEu¢ ill busiu¢s$. The Trustees are ￿sPonsible for keepwd ad¢quate account￿ records which disclose with reasonable accuracy xt ally titne the fJnaDcial position of thc trust enable tiMll to ¢Dsure that the fmancial sthrements cott)ply with the Chariiies Act, the FIousirtg And Rcgenerntlon Act 2008 and the A¢¢ouating Direciiou for Priva¢e Registered Ptoviders of Social Htsusing 2022. Thc TnJstee5 are also responsible for safeguArding the 8ssets of the trnst and hencc for tskitig reasonable steps for the prevention aud detection of ftaud ULd ottrAei ittegul3n'ties. ON BEHALF OF THE TRUSTEES: Ttust¢¢- Tn￿tee- 4 March 2025 Page 4 AYLorf JAThES ALMSHOUSES REPORT OF THE JNDEPENDEf4T AUDITORS TO THE MEMBERS OF AYLOTT JANES ALMSHOUSES Opinion We have auditcd the financial 5tatcmeTts of Aylott Janes Alrnshouses (the'¢barity4 for thc ye8r ended 31 December 2024 wljich comprisc thc Stat¢m¢nt of Cornprehe¥tsive IT￿Me. Balanc¢ SheeL Statsment of Changes in Reserves, Staletnettt of Cash Flows and Dotes to the fllwicial sfatet[￿ts, including a summary of 51gtllficanÉ accounting poli¢ie5. l"b¢ fiuaucial r¢ponillg framework tbat h35 bceD applied in lhetr prepataiioD 15 applicable law alld United Kingdotn A¢counling Standards, iti¢ludiog Finao¢i81 Reportiryg Standaid I02 Th¢ Fit)all¢ial Reporting Stattdard applicable in the UK and Republic of [￿land, (United Kingdom Generally Ac¢¢pi¢d A¢¢outtiitig Practice). In ouropinion th¢ fin￿¢]￿1 sthtements". give a trne aud fatr view of tbe State of tbe e]J8rity's affairs as at 31 December 2024 and of its income and expenditure for the year then ended. have been properly pr¢par¢d in accord￿¢ with United Kingdom Geoerally Accepted A¢countiti8 Practic¢. have been prtpattd ID accordance with the requirertt¢nts of the Charitics Act 2011. the Housing and R¢g¢n¢ra(ioll A¢t 2008 and tlLe Accounting Ditection for pr¢vate r¢gist¢red PEovidcts of social housitis io Ellglat￿ 2022. Ba515 for oplnion We cotsducttd our audit in accordanc¢ with Int¢rnational StaudaEds on AudiiiD8 IUKI (tSA5 (UK)) And applicable ]aw. Our responslbilities undcr thos¢ standard5 are furthcT dcscribcd in the Auditors, re5PQD$ibilities for the audit of the finarLciai statemetLts section of our reporL We are independent of the cljariry ill accordance wtth the ¢￿10¥1 require]nents that are relevant to our audit of the flllattcial statements in tbe UK. including tbc FRC'5 Ethical Statlllard, and we have fuir￿ed our other ¢thical respottsibilities iti accordance with these rcquirernents. W¢ b¢lLev¢ thai th¢ audii evidence we bav¢ obtained is sufficieni and appropriatc to provide 8 basis for our opinion. CoTh¢lu$Éon5 relating to going concero We bavc nothÈDg to report in respect tsf thc following tDatters Én relation to which tb¢ ISAS (UK) require us to report to you Wh￿e. the trustecl u5¢ of tbe going concern basis of aecollttiing itt the preparation of th¢ fmancial g¢atementS 15 t￿t appropriate- or the tsusrees have not disclosed in the fitwicial 5ratem¢nts any identified n￿ertaI ullcertainti¢s that may cast significaot doubt about the cbarit￿S ability to eoutinue to adopt the going concern basis of Accounting for 2 period of at least twelve ULonths from the date wheu the financia] statements are athrised for Other ittformation Th¢ trus¢cs are responsible for the other ittformatioll. The oiher Inforn￿E0tt cotnprises the infomiation ill th¢ Trust¢¢5 R¢porL but doe5 not include the fuw¢ial statements and our auditor's report thcr¢on. Our op1￿10n on the financial statements doc5 not cover the other ijthrmation aTrd we do not cxpre55 any fo￿ of a55urnuce ¢on¢lusio In connection with our ludit of the financial SEg4t¢rn¢llts, i)ur [¢4￿￿51b111ty is to re&d the otb¢i illfotwation in doing so, consider whether the other infonnation is rn#terially inconsistent with thc f￿￿tt¢1￿1 slaternents or our knowledge obraitied in the audit or othenvise appears to bc materially rai￿lated If, based Oll thc work we have Perfo￿ed, we conclude ihat th¢r¢ is a nJ2ierial missthtCrnCDt of this oth¢r iaforn]ation. we are rcquir¢d ￿ report that ract. We hav¢ llotkn￿g to r¢pDrt in this regatd. Matters on Tvbich we are required to report by exception We have nothing io report in respeci of the following marters whete the Charities (Accounts and Reports) R¢gulation5 2008 rcquircs us to report to you if. in our opinioJ'. the iuforniatiou 8iven ITr the fwall¢ial st¥41¢meuts is inconsistent in any malcriai r¢5P¢¢t with the trnst¢¢s' repo¢ or adequate accounting recordg have not beeu kept: or the financial statements ar¢ riot its agreetnent with tb¢ 4¢¢0witin8 tteords.. or h&vc not rcc¢TY¢d all th¢ 2nftsrnation and ¢xp]&natiOll5 wc requue for our audit. PWS AYLorr JANES ALMSllOUSES REPORT OF THE tNDEPENDEprf AUDITORS TO THE MEMBERS OF AYLOTT JANES AL￿lS￿ouSEs Responsibilities of trustees As explained tnore ￿llY in the Ststetn¢nt of TTUSte￿, RespoDsibilitLCS sei out on page four, the tTUStees are responsible for the p￿parati0ll of thc financial statcrnents and for beitjg satisfied that th¢y give a trnc and fair vi¢w. 8Thd for such illtemal control as the trn5tecs dctcrEDille llecessary to eDablc the preparation of fllthttcial statements that are free frotn sllatcnal tDiS51aiemenk whether to fraud or eTror. IL prepariDg the fjnalleial st&¢emettts. the ttmstees are respon￿1}[¢ for asse5siDg the eharity's ability to eontinue as a going disclosills L8 appltcabl< maws related to going conccrti and us2ng the 80iDg collctrn basis of accounting unle55 the I￿￿te¢S either irntend to liquidate th¢ chwity or to cease op¢ration5. or have no realistic altcrnative but to do so. Our respowlbllltles for the audit of the fmatLcial 5t4tcJncnts We have beetl appoittted as allditor under se£tion 145 of the Chat&"ties Act2011 and rport in accordaDce the A¢t and relevarLt reguiatiODS nmde or h&vtng effect thereund¢r. Our objectives are to obtain reastsnablc assurallc¢ about wh¢thcr the flljancial stai¢m¢nts as a wht)le are free from mat¢rial misstatement, wELether due to ftaud or errnr. and w i55u¢ a Rcport of1he Auditor5 that illcludcs our opinion. Re2sotMble assuraoc¢ is a htgh Icvcl of asSUTr￿eC but i5 not a guarante¢ that audit conducted in accordan¢¢ vlith ISAS (UK) will always detert 3 material rnÉ$st#tethent when it exists. Mtsstat¢metttS Can arise froll) fraud 01 error and are considered rllat¢ria] if. Individ￿llY or in thc aggrrgate. they could reasonably be expectcd to infiu¢n¢¢ the IFnotuic decisiotts of users taken on the basis of tbcse fillducial statemcnts. A fi￿er descriptioo of our ￿SponsIbl11ties for tl1¢ audit of tb¢ f￿￿cIal slateEtLents is locaied on the Finatlcial Rcportillg Council's Websi￿ at wvnv.frc.org.uklr4uditorsr¢5poDsibilities. This d￿¢riptioll foms part of our Report of the Audiiors. Ktregularjties, iu¢ludio8 fraupb"ed consistently are set out below. The finaneial statements have b¢¢n prepared on a goillg conc¢rn basis uuder the hi5toncal cosi cottvenlion, except fctr iuY¢stmenis which Ire valued ai fair value. The financial S￿leMents ar¢ p￿sented in pounds sterling and roundcd Éo the nearest pound The regisieral nlltnber and addr¢55 of tb¢ principal officc ¢art be foulld oll the charity infortDatiotLpage. The ie8iStered pmvider of social housing cOnstitu￿S a public bcnefit entity as d¢fuKd by FRS 102. Tangible fixed assets Tangbi 1¢ ￿tL% ineluditig social housing prop¢rtL¢5 are 5tat¢d at cost le55 aceumlltated depre¢otion and irnpairnient Ioss¢8. Cosi in¢llldes costs directly atttibutable to makmg the assct capable of operating as iThtended sucb as the cost of acqlliting land a[￿ b￿ldiD85, dcvcloptnents costs at]d ]￿ereSt charges on loans during the dev¢lopment period Expendittwe on improvements will only be capita]ised when it results in in¢r¢meThtal future benefits. Deprcci2tion is provided on all tsngible fixed assets. at tat¢s calculated to writ¢ off the casL less estitna*d residual Wdlue, of each asset i)lla systematic basis over its eTpecteduS¢￿[ tife as fo]lows: Land Hou5in8 propety Not depreci*t¢d Ov¢r 70 yeaTS Social housing grallt Aylott Jan¢s Alttthuses bave been partly financed by a social bousing wt. The assets to which th¢ graot relate are accoun￿d for on the cost model aud thcrcfoTe the SHG i5 awouDt¢d for on the ac¢n￿l t￿odel. SHG is re¢o8nÈ$ed gs a iiabllity aThd amortised in ineome over th¢ life of bousiog sinLCture wlu¢h I b¢¢n deemed to b¢ 100 years. Endowment fund This reserve was created with the Monies endowed up(>n the chaNty by F C W jaTr￿ and S C Aylott. ThÉ5 fi￿d is desi8tted to supply an investtnent ittcom¢ for the Ch2ti¢y. Re5tri¢ted fund Rkstrictcd fullds cornpri￿ the Extraordinary Repiirs Fund reserve whicb been created to cover extrdorditlary rcpain, improv¢tueut or rebuildi￿& of tbe Aitnshouses belongiDg to tbe Charity. An amount of not 1¢5$ than £100 mllst be inv¢5t¢d yeatly in thi5 fvntl Expenditur¢ which Meets the tetm5 of tbe fund are allocated against th¢sc ￿nds. Accumulated fund This fund is for the fuwre general upk¢¢p and cosLS of Queens Close A]rnshou5&%. The note5 fonn part of these IIDanci81 statements Pag¢ 12 AYLorrJANES ALMSHOUSES NOTES TO THE FINAJICIAL STATEMENTS for the Year Ended JI December 2024 FinAllel#l in5trumettts Cash and bal￿ balances and debtors alld creditors WLih no stated interest rdte and receivable or payable within ooe year are rccorded at trall5a¢tioD pri¢¢. Auy lo￿t$ arising ftom iwaimient arc reco8Dis¢d ill th¢ statcjncnt of comprehen5Lve illcomc. Flxed ￿Set investEDents Inve5tm¢uts recognised illitially at fair valu¢ wlii¢h is nornally tr8nsa¢tion price ¢x¢luding trartsacttoll costs. Subsequelltly. they are measured at fair value througb the staiemeut of compreheDsive inCOEELe if the shar¢5 ar¢ publscally trnded or their foir value can oth¢rwtse be measured re]iably. The surplus or deficit on any disposals are calculat￿ as th¢ diÉf¢rcnc¢ b¢tw¢¢n the openillg valuatioll aud disposal proceeds atsd are recognis¢d in the swement of compreh¢nsive in¢om¢. SigDificant judgements and estimgtes Preparation of ib¢ financial Staleme￿i5 require5 manag¢m¢nt to make significattt iud8enwit5 in applyirt8 the aceouniing policies of the Cbarity aud estimates and assuwpiions that hav¢ a significaat effect on the r¢¢ognition atLd n￿aSure£ll¢ll1 of &ss¢ts, liabilitie5, incorne and expellses. Athal r¢5ults may be diff¢r¢nt ro thes¢ estimaics. SEgnificantjudgements Housits8 p￿pertIeS Itt applying tbe chan"ty's accounting policic5 the freehold houssllg propertie5 have been clas51fi￿ as ptopety plant and equipmcnt and therefore accounted for at cost. However, th¢￿ is no record of the oriwnal almshouses eost and the value a¢ttibuted in 1979 has bccn deemed ¢ost. The tmprovements to housing propcnics eaTried out since l January 1982 hav¢ b¢¢n included at cosi. The buildings are currently iDsured for of £4.408,574. Eslzpmiion uncertainty Usefvl lives oFdepreciabl¢ a55¢ts blanagetnent reviews its estimate of tbe USefi￿ liyes of depreciablE at eacb reportwg dat¢ based on the expected utility of the assets. Revisions to tbese esti￿at¢S arc rccognised in thc period in which the revision of th¢ ¢51imate occurr¢d where li only affcets that year, or in the pcriod of revtsion and fut￿re periods wb¢r¢ the revision aff￿lS both awr¢nt and futurc pcriods. Tllrnover Turnover ttpresents contributions and setvi¢e charges inconie receivable in the year. n¢t of losses frozrL voids a[￿ aD￿rtISatiOn of government grants. EMPLOYEES Duritig the year there were no employtt5 paid by ibe charity. The maoag¢ment of the charity is uDdertak¢n by Duncan Welch & Co, Clerk to the Trustees. Matlagement fee5 charged the y¢ar amounted 10 £27,600 (2023: £27.600} Th¢ note5 fotrn Parf of tbese financial staterncnts Page 13 AYLOTh JANES ALMSHOUSES NOTES TO THE FINANCIAL STATEfvIENTS for the Yegr Ended 31 Decetnber 2024 PARTICULARS OF TURNOVER AND ADMtYlSTRATIVE EXPENDITURE FROM SOCIAL HOUSING LETTLYGS 21124 2023 Turnover Contributions receivablc ncl of identifiBbl¢ service charges aod voids Scrvi¢c clw¥¢ luc0￿¢ Amorti5ed government grallts I61￿00 8.921 2J98 149.7Q3 7,816 2.598 Turnover from social hou51nR lettings 173,1119 I60,117 A41mitttstrative expenditure (note 18) Mana8cinciit GQ5ts Servitt ¢haxgc costs Repairs 20d m8int¢nan¢e Dcpreeiation of housing properties 38,856 29.713 59,860 10,975 37.269 26.287 93,561 10.975 AdrniDi5trative expendithre social housing lettiDg5 139,404 168.092 Operating (deficit)/surplu5 OD sotial housing lettij 33.615 7.975) Void los 6J40 5,391 All tsllllover alld expenditure is in rtsp¢¢t of housing for olderpeople. TANGIBLE FIXED ASSETS Freehold Housing Property C95t At l January 2024 and 31 Ik¢cmber 2024 829,160 Depreclation At l J¥nu2ry 2024 ctwge foryear 87,800 io At 31 December 2024 Plet bookvglue At 3 1 Dcccnther 2024 730 J85 A(31 December 2023 741,360 The Dotes lorni part of th¢5c financial Stat¢￿ellts Pagc 14 AVLOTT JANES ALMSHOUSES NOTES TO THE FtNANCIAL STATENIENTS ror the Year Ended 31 December 2024 Cost Value EThdowmeDt futtd Balance brought forward AdditJOU5 y¢ar Disp05a15 in y Accumulated income Change Én market value 327,171 673,969 11,968 11,968 Balanc¢ ¢arried forward Cash on depo51t at brokcr5 339,139 723,727 Total endowm¢nt fijnds 339,141 723,729 Extr20rdin7dry repair5 fund B&lats¢e ￿oll8bt forward AdditLons in ycar Disposals in ycar Accumulated itLcome Changc in maTkct Vglue 211,025 21.6(Y) 226.884 21.600 9,821 9821 Bal2nce carried forward 267 414 At 31 Dectntber 2024 581,587 991,143 At 31 December 2023 538,198 900 The fairvalue of lisied investtnerAts is determined by reference ro the middle llmrket price at close of business ar tbe balance sheet da*. iJEBTORS: AMOUNfS FALLING 2024 2023 Colltrajuuon atrears PwaymeDts IA02 27.912 ,713 16.908 18,621 CRIDITORS: AMOUNTS FALLtNG DUE wrrHIN ONE YEAR Z024 2023 Corttribuitolls paid in advance A¢¢rued expcll$CS DefeErcd it￿One 5,795 4,783 2,598 5,493 4,355 2,)98 13,176 12,446 The notcs forni part of these financial statements Page 15 AyLo￿ JANES ALMSHOUSES NOTES TO THE F￿ANCIAL STATEMENTS fijr the Year Ended 31 December 2024 CREDrroRS: AMouKfs FALLING DUE AFTER MORE ONE YEAR 2024 2023 D¢f¢rred income 157 159831 159.831 TAXATION The Charity has model clwitsble rules and its SU￿lUs¢S and gaiDs are exempt ftoTn taxation. 10. HoL￿£s IN MANAGEMENT The chan.ty had 36 fials in managetn¢nt 8t both th¢ beginning and tbe elld of tbe accountillg period. These ar¢ owned by the chariry and represent housittg for older people. Contribuiioos are received from 35 nats whi]st lfl&t is prnvided free of charge to the warde ll¥COl￿E ADID EXPETr4DrruRE RESERVE The income and expendittwe ¥cs¢ry¢ T¢pf¢s¢Dts ellrlluIAtive sutplus and deficits net of other adjustments. 12. RESTIUCTED FUNDS 2024 2023 ENDOIYAIENTRESERVE Bmught 10Th￿rd Net tr8nsfer5 from iTh¢om¢ 2nd expendits]re reserve MovetneDI ID fair value 680,883 11,968 629.586 10,603 Carried forward 730 641 680,883 The endowment ieserve is n￿de up of tb¢ endowm¢nt Fund which provides iavcstroent incorn¢ for the ch8rity. R8STRtCTED RESER VE Brought fonvard Nct trattslcrs from incorne aod cxF*uditure re6¢rYe Movejneot in fair value 226,884 31,421 9,109 192,366 29.503 5.015 CatTied forward 226.884 The restri¢tedreserYe is made up of the eXtrao￿l￿ary T￿8]rS fund which is to cover ￿￿dillary r¢pairs. irnprovemeut 01 I¢building of tbe alrnshou5e5. 13. TRUSTEES AND KEY IIL4iYAGEMENT PERSONNEL RETrIUNERATION AND EXPENSES Key fflanag¢m¢ut p¢r50nn¢l n¢tEh¢r re￿ived nor wal￿d any r¢Jnullerntion. norwere they reimbursed ally expettses during th¢ y¢ar (2023.. £nil). The notes forni part of these f￿anCiaL statemcnis Pa8e 16 AYLOTT JANES ALMSHOUSES NOTES TO THE FiNANCtAL STATEIMENrs for the YeaT EDd¢d 31 December 2024 14. CAPITAL COMMiTMKNTS There were no c8Pital COn￿lthIellts al the year end. 15. CASH FLOW FROM OPIRATif4C ACTIVITIES 2024 2023 Surplus l (def5CiI1 for tILe y Amortisedhousing Etant Depiec1￿10ll of tangible r￿ed assets (Decrease) I Increase in creditors De¢rease I Ilncrease) iu d¢btors Dividends receivdble Movement iti fair value of fixed ass¢t inYe51ments 112,251 (2,598) 10,975 730 (10,693) 131,737) 46 99 72.409 (2.5981 10.975 728 {9.206) (34,6751 45,709 Net cask flow from op¢ratyig activities 31029 16. ANALYSIS OF CHANGES IN NET FUNDS At 01.01.24 Cash flosy At 31.1124 Net eash Casb and ¢a5h eApivaLcnts 75.267 20.377 95.644 75.267 20.377 95.644 Totsl 75.267 20J77 95,644 The notes fonn part of these fllwiciai statements Page 17 AyL0￿JANEs ALMSHOUSES NOTES TO THE FINANCIAL STATEMENTS for tbe Year EDded 31 December 2024 17. Fll4ANCIAL tNSTRUMENTS 2024 2023 The tarrying amounts of tbe chariry's fJn8ll¢ial instruments are as follows: Financial a53ets Measured ai fairv8lu¢ through thc statCllLent of comprehcn5iVC illeomt.. - Fixed asset listed illvestmeuts (uot¢ S) 991141 Debt instsu2nents measured at amorti¥ed c05t.' - Oth¢r debtors (llote 6) 1.713 Financial liabilities Measured at omortised cost.. - Other creditors (llote 7) 9,848 The income. expenses, nei gains 4lld net losses attributable to th¢ ¢harity'$ fllwicial insttuments are a5 follows: IrtC¢*Re and￿P￿JLT£ Fi[W￿l81 assets tneasured at fair vakne tbmugh the stF4temeDt of comprebellsiv¢ income: N¢1gai￿ andloss¢s (in¢luding ckanges iNfair wzlue) Fit)allciai essets measured at fair valtle through th¢ ststctncnt of comprchensive inC0￿e.. The notes forni part of these financial statements P￿e 18 AyLo￿ JANES ALMSHOUSES NOTES TO THE FtNANCIAL sTATETr￿￿rS for the Year Ended 31 December 2024 18. OPEiL4TtNG COSTS 2024 2023 llagemellt costs Property insurance Subscriptiotts Fee for right of way 4,191 599 150 27,600 2,OS8 lJ86 2,652 190 3.850 582 150 27.61)0 2.016 1,356 1.475 240 MaELagetuenL char8es Auditors. rtmuneratioll Auditors. remunerdtioll- non auditwoik Lcgal and prof¢ssional ftes Bank ebarges 38,856 37,269 Service ￿sts Water ra¢¢5 Couacil tax on empty properties Ligbt & heat on empty prop¢rti¢s Sundry expenscs Ligbting of comrnon 3reas Warden'5 light and h¢at Warden'5 telephone Warden's council thx Ward¢n's water rates Warden's Christmas box gift Wardencall system Cleaning Gardcn maintertance 8,921 2,350 261 1.368 1,433 2,804 1,587 1,473 324 250 2,002 2,860 7.816 1,599 373 994 2.000 2,330 1,382 166 250 1.823 2,330 3.820 Day to day repairs And maintenwce Repairs alld setvicing to boiters Ga5 safety ch¢¢k Plumbing repairs Warden call ￿al￿ten3nee Redccoratioll al￿ Ee￿d)ish￿enI of Aats F&re extinguisher servicKng and tepbeen￿ttts ElectTical reptitts General repars 4J80 3,570 5,901 3,023 2,1311 2.243 3.570 5,308 3,790 48,296 845 11.098 35,828 93,561 Th¢ notes forni pHrt of these fillancial stat¢m¢nts Pag¢ 19