2023-12-31-accounts

				Page
Reference and Administrative		Details ofthe Charity,	its Trustees and Advisers	1-2
Trustees' Report				3-9
Trustees' Responsibilities Statement				10
Independent Auditor's	Report	on the Financial Statements		11-13
Statement of Financial	Activities			14
Balance Sheet				15
Statement ofCash Flows				16
Notes to the Financial	Statements			17-39

Trustees		Mr Peter Marr, (Chair	until	22 March 2023)t
		Mr Jeremy Williams,	(Chair from 23 March 2023)z,s,s
		Mr Jonathan Blythe
		Mr Robert Hall (appointed		20 September 2023)4
		Mrs Emma Halford2, 3,4
		Mr Alexander Lourie&2
		Mrs Margaret Marshalls
		Mrs Katherine Maxwellz, s
		Mrs Kathryn O'Brien4,	s
		Mr Paul Phillipst
		Cllr Richard Pyne
		Revd Wilma Roest4
		Mr Michael Townsint,	4
		Dr Alexander J M Hall (resigned 24 May 2023)4
		" Finance Committee
		t Property Committee
		4 Risk Management	Committee
		4 Welfare Committee
		s Safeguarding Committee
Charity registered
number		200431
Principal office		95Sheen Road
		Richmond
		TW9 1YJ
Chief Executive		Ms JAmes-Lewis
Independent	auditor	MHA
		6th Floor
		2 London Wall Place
		London, United Kingdom
		EC2Y 5AU
Bankers		Barclays Bank pic
		8George Street
		Richmond
		Surrey
		TW9 1JY
		HSBC
		67George Street
		Richmond
		Surrey
		TW9 1HG

Solicitors		Moore Barlow
		2 Sheen Road
		Richmond
		Surrey
		TW9 1AE
Property Agents and Surveyors		HML 9-11The Quadrant
		Richmond
		Surrey
		TW9 1BP
Investment	Fund	Sarasin &Partners
Managers		Juxon House 100St Paul's Churchyard
		EC4M 8BU
		CCLA
		One Angel Lane
		London
		EC4R 3AB

			Unrestricted	Restricted	Endowment	Total	Total
			funds	funds	funds	funds	funds
		Note	2023	2023 F.	2023	2023f	2022 F
Income from:
Donations and
legacies		4	650	7,100		7,750	12,202
Charitable activities		5	1,595,595			1,595,595	1,510,935
Investments		6	2,965,331			2,965,331	2,956,576
Total income			4,561,576	7,100		4,568,676	4,479,713
Expenditure on:
Raising funds		7	1,661,457			1,661,457	1,142,324
Charitable activities		9	2,019,733	7,500		2,027,233	2,086,166
Total expenditure			3,681,190	7,500		3,688,690	3,228,490
Revaluation of
investments					4,620,856	4,620,856	(7,726,882)
Transfers between
funds		20	2,617,269		(2,617,269)
Net movement	in
funds before other
recognised gains			3,497,655	(400)	2,003,587	5,500,842	(6,475,659)
Other recognised
gains:
Actuarial gains	on
defined benefit
pension schemes		27					1,000
Net movement	in
funds			3,497,655	(400)	2,003,587	5,500,842	(6,474,659)
Reconciliation	of
funds:
Total funds brought forward			11,996,008	7,500	130,546,550	142,550,058	149,024,717
Net movement	in
funds			3,497,655	(400)	2,003,587	5,500,842	(6,474,659)
Total funds carried
forward			15,493,663	7,100	132,550,137	148,050,900	142,550,058

				2023 F	2022f
Cash flows from operating activities
Net cash	used in operating activities			(1,518,600)	(1,839,720)
Cash flows from investing activities
Dividends, interests and rents from investments				2,972,362	2,959,976
Purchase	oftangible fixed assets			(3,261,624)	(6,548)
Proceeds	from sale of investments			5,091,062	4,727,240
Purchase	ofinvestments			(3,998,793)	(5,994,128)
Proceeds	from sale of investment property			1,875,966
Net cash	provided by investing activities			2,678,973	1,686,540
Change	in cash and cash equivalents in	the year		1,160,373	(153,180)
Cash and	cash equivalents at the beginning	ofthe year		249,253	402,433
Cash and cash equivalents at the end of		the year		1,409,626	249,253
The notes on pages 17to 39form part ofthese financial			statements

				Unrestricted	Restricted	Total
				funds	funds	funds
				2023f	2023	2023
Donations				650		650
The Charity of Henry Smith					7,100	7,100
				650	7,100	7,750
				Unrestricted	Restricted	Total
				funds	funds	funds
				2022	2022	2022
				6	6	6
Donations				502	4,600	5,102
The Charity	of Henry Smith				7,100	7,100
				502	11,700	12,202
Income from		charitable	activities
					Unrestricted	Total
					funds	funds
					2023	2023
					6	6
Almshouses	- Residents'		contributions		1,595,595	1,595,595
					Unrestricted	Total
					funds	funds
					2022	2022
Almshouses	-Residents'		contributions		1,510,935	1,510,935

		Unrestricted	Total
		funds	funds
		2023	2023
		F	6
Rents receivable		2,534,286	2,534,286
Dividend	income receivable	427,608	427,608
Bank interest receivable		3,437	3,437
		2,965,331	2,965,331
		Unrestricted	Total
		funds	funds
		2022	2022
		6	F
Rents receivable		2,448,187	2,448,187
Dividend	income receivable	506,220	506,220
Bank interest receivable		2,169	2,169
		2,956,576	2,956,576

Expenditure on raising f	unds
		2023	2022f
Fund management
Investment management	costs	56,777	59,308
		56,777	59,308
Property management
Direct costs - Property		1,501,960	1,032,647
Support costs -Insurance		24,321	15,919
Support costs -Repairs and maintenance		14,792	17,478
Support costs - Legal and	professional	2,034	975
Support costs -Office expenses		18,726	15,958
Support costs -Miscellaneous		36,154	39
		1,597,987	1,083,016
		1,654,764	1,142,324

Grants to	Total
Individuals	funds
2023	2023
6
109,371	109,371

Grants to	Total
Individuals	funds
2022f	2022f
59,250	59,250

		Unrestricted	Restricted
		funds	funds	Total
		2023	2023	2023
		F.	E	F
Charitable	activities	2,019,733	7,500	2,027,233
		Unrestricted	Restricted
		funds	funds	Total
		2022	2022 F	2022 f
Charitable	activities	2,081,966	4,200	2,086,166

				Activities	Grant
				undertaken	funding of	Support	Total
				directly 2023 F	activities 2023f	costs 2023	funds 2023 8
Almshouses	and	grant	funding	1,765,387	109,371	152,475	2,027,233
				Activities	Grant
				undertaken	funding of	Support	Total
				directly	activities	costs	funds
				2022 F	2022f	2022 6	2022
Almshouses	and	grant	funding	1,927,154	59,250	99,762	2,086,166

				Total	Total
				funds	funds
				2023f	2022f
Staff costs				605,195	543,963
Telephone				20,672	16,532
Rates and water				82,253	29,158
Electricity and		gas		55,263	40,941
Cleaning				9,332	11,358
Careium				13,242	14,190
Garden and	tree maintenance			115,196	110,079
Repairs and	maintenance			210,934	236,308
Legal and professional			fees	31,640	242,621
Miscellaneous				10,032	764
Major property repairs				611,628	681,240
				1,765,387	1,927,154
Analysis of	support costs
				Total	Total
				funds	funds
				2023f	2022f
Governance		staff costs		96,534	62,208
Depreciation				243,377	243,257
Insurance				21,889	14,327
Electricity and gas				2,505	1,630
Cleaning				5,971	7,942
Repairs and		maintenance		7,342	7,790
Legal and professional			fees	1,830	98
Office expenses				14,348	12,733
Miscellaneous				56,887	53,345
Governance		costs		52,758	51,172
(Profft)/loss	on disposal		offixed asset investments	(350,966)	(354,740)
				152„475	99,762

11.	Governance	costs
							2023 F	2022f
	Auditor's remuneration						20,250	20,250
	Auditor's remuneration		- non audit work				20,200	19,182
	Other governance costs						9,726	11,740
							50,176	51,172
12.	Revaluation	ofinvestments
							2023	2022
							E
	Revaluation	gains/(losses)		on investment	property	16	2,227,750	(5,072,550)
	Revaluation	gains/(losses)		on fixed asset	investments	17	2,393,106	(2,117,918)
	Revaluation	loss on current		asset investments				(536,414)
							4,620,856	(7,726,882)
13.	Staff costs
							2023	2022
								L'
	Wages and	salaries					564,160	499,665
	Social security costs						55,274	41,517
	Contribution	to defined	contribution pension schemes				82,295	64,989
							701,729	606,171
	The average	number	ofpersons employed		by the Charity during	the year was	as follows:
							2023	2022
							No.	No.
	Staff						14	13

2023	2022
No.	No.
1	1

		Office	Assets	Assets
	Freehold	freehold	under
	property 6	property f	construction	f	Total F
Cost or valuation
At 1 January 2023	10,793,829	1,100,000			11,893,829
Additions			3,261,624		3,261,624
At 31 December 2023	10,793,829	1,100,000	3,261,624		15,155,453
Depreciation
At 1 January 2023	720,107	27,500			747,607
Charge for the year	215,877	27,500			243,377
At 31 December 2023	935,984	55,000			990,984
Net book value
At 31 December 2023	9,857,845	1,045,000	3,261,624		14,164,469
At 31 December 2022	10,073,722	1,072,500			11,146,222

Fixed asset Investments
	Listed
	Investments
Cost or valuation
At 1 January 2023	27,661,300
Additions	3,998,793
Disposals	(5,091,062)
Revaluations	2,393,106
At 31 December 2023	28,962,137
Net book value
At 31 December 2023	28,962,137
At 31 December 2022	27,661,300

Debtors
		2023f	2022f
Due within one year
Trade debtors		113,821	21,110
Prepayments	and accrued income	59,092	723,315
		172,913	744,425

						2023	2022
						6	6
Trade creditors						50,412	19,038
Other taxation and		social security				18,671	13,989
Other creditors						987	6,263
Accruals	and deferred			income		176,175	97,102
						246,245	136,392
						2023f	2022
Deferred	income
Deferred	income at		1	January		72,334	71,693
Resources deferred			during the year			63,206	72,334
Amounts	released	from previous			periods	(72,334)	(71,693)
						63,206	72,334

						Balance at
	Balance at 1					31
	January 2023f	Income f	Expenditure 6	Transfers In/out F	Gains/ (Losses) 6	December 2023 6
Unrestricted
funds
General Funds	11,996,008	4,561,576	(3,681,190)	2,617,269		15,493,663
Endowment
funds
Endowment Fund	130,546,550			(2,617,269)	4,620,856	132,550,137
Restricted
funds
Henry Smith	7,500	7,100	(7,500)			7,100
Total offunds	142,550,058	4,568,676	(3,688,690)		4,620,856	148,050,900

Statement offu	nds - prior year
							Balance at
	Balance at						31
	1 January 2022f	Income 6	Expenditure	f	Transfers in/out 8	Gains/ (Losses)f	December 2022 6
Unrestricted
funds
General Funds	8,277,477	4,468,013	(3,224,290)		2,473,808	1,000	11,996,008
Endowment
funds
Endowment
Funds	140,747,240				(2,473,808)	(7,726,882)	130,546,550
Restricted
funds
Restricted
Funds		11,700	(4,200)				7,500
Total offunds	149,024,717	4,479,713	(3,228,490)			(7,725,882)	142,550,058

Summary	of	funds - current yea	r
							Balance at
		Balance at 1					31
		January 2023f	Income 8	Expenditure 8	Transfers in/out 6	Gains/ (Losses)f	December 2023f
General funds		11,996,008	4,561,576	(3,681,190)	2,617,269		15,493,663
Endowment
funds		130,546,550			(2,617,269)	4,620,856	132,550,137
Restricted
funds		7,500	7,100	(7,500)			7,100
		142,550,058	4,568,676	(3,688,690)		4,620,856	148,050,900
Summary	of	funds - prior year
							Balance at
		Balance at					31
		1 January 2022	Income	Expenditure	Transfers in/out	Gains/ (Losses)	December 2022
		F	F	F	5
General funds		8,277,477	4,488,013	(3,224,290)	2,473,808	1,000	11,996,008
Endowment
funds		140,747,240			(2,473,808)	(7,726,882)	130,546,550
Restricted
funds			11,700	(4,200)			7,500
		149,024,717	4,479,713	(3,228,490)		(7,725,882)	142,550,058

Analysis ofnet assets between funds	-current year
	Unrestricted	Restricted	Endowment	Total
	funds	funds	funds	funds
	2023 6	2023 f	2023 F	2023 6
Tangible fixed assets	14,164,469			14,164,469
Fixed asset investments			28,962,137	28,962,137
Investment property			103,588,000	103,588,000
Current assets	1,575,439	7,100		1,582,539
Creditors due within one year	(246,245)			(246,245)
Total	15,493,663	7,100	132,550,137	148,050,900
Analysis of net assets between funds	-prior year
	Unrestricted	Restricted	Endowment	Total
	funds	funds	funds	funds
	2022f	2022 F	2022 6	2022f
Tangible fixed assets	11,146,222			11,146,222
Fixed asset investments			27,661,300	27,661,300
Investment property			102,885,250	102,885,250
Current assets	986,178	7,500		993,678
Creditors due within one year	(136,392)			(136,392)
	11,996,008	7,500	130,546,550	142,550,058

										2023	2022f
	Net income/expenditure for Activities)	the		year	(as	per	Statement	of	Financial	5,500,842	(6,475,659)
	Adjustments for:
	Depreciation charges									243,377	243,257
	(Gains)/losses on investments									(4,650,856)	7,726,882
	Dividends, interests and rents	from		investments						(2,972,362)	(2,959,976)
	(Profit) on the sale offixed assets										(354,740)
	(Profit) on disposal ofinvestment		property							(350,966)
	Decrease in debtors									571,512	88,986
	Increase/(decrease) in creditors									139,853	(108,470)
	Net cash used in operating	activities								(1,518,600)	(1,839,720)
24.	Analysis ofcash and cash	equivalents
										2023	2022f
	Cash in hand and at bank									1,409,626	249,253
	Total cash and cash equivalents									1,409,626	249,253
25.	Analysis ofchanges in net	debt
									At 1		At 31
									January		December
									2023	Cash flows	2023
									6	6
	Cash at bank and in hand								249,253	1,160,373	1,409,626
									249,253	1,160,373	1,409,626

Capital com	mitment	s
				2023 6	2022f
Contracted	for but	not provided	in these financial statements
Almshouses	assets	in course of construction		5,695,920	238,051
Photovoltaic	projects			681,884	34,230
Other				183,467	69,401
				6,561,271	341,682

					o/o
Discount	rate				11.9
Expected	return	on	scheme	assets	7.1

Actuarial	gains
Closing	defined	benefit	obligation

					2023	2022
					E
Not	later	than	1	year	1,857	1,646

2023	2022
6	2
1,713	1,646