THE HOMEYARD HOMES VERYAN TRURO CORNWALL CHARITY NUMBER 200770 REGISTERED IN ENGLAND AND WALES THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2025 BALME KITCHEN & PEARCE LTD CHARTERED ACCOUNTANTS 25 LEMON STREET TRURO CORNWALL
THE HOMEYARD HOMES CONTENTS PAGE 1 to3 TRUSTEES REPORT INDEPENDENT EXAMINERS REPORT STATEMENT OF FINANCIAL ACTIVITIES BALANCE SHE 7t010 NOTES TO THE FINANCIAL STATEMENTS The followlng page does not forni part of the statutory fjnancial statsments DETAILED ANALYSIS OF INCOME AND EXPENDITURE 11
PAGE 1 THE HOMEYARD HOMES TRUSTEES REPORT FOR THE YEAR TO 30 JUNE 2025 VERYAN TRURO CORNWALL REGISTERED CHARITY NUMBER 200770 The Iruslees present their report and accounts for the year ended 30 June 2025. Trustg9S: The following Trustees have served during the year.. Mr D Rounsevell {Chairmanl Mrs S Truscott Mr B Jobson MrJ Gemian Mr G Webb Mr J Leaeh Mrs N Bush Vacancy- Parish Priest Indepèndent Examiner: T J Dawson FCA Balme Kitshen & Pearce Ltd Chartered Accountsnts 25 Lemon Street TRURO Cornwall TR12LS Bankers: Barclays Bank King Street TRURO Comwall Govaming Documont The Homeyard Homes Trust is constituted by a Trust Deed dated 27April 1953. How our actlvltles deliver publ1¢ benefft Our main activities and who we ty to help are described below. All our charitable activities focus on providing accommodation to the seamen's widows of preferably Cornish seamen or other appropriate applicants, at a nominal contribution towards expenditure. Objects and Oryanisation The objects of The Homeyard Homes Trust are to ensure the provision of accommodation for dependants of the widows of Comish seamen.
Continued...-.... PAGE 2 Revlew of the year The Imst made a profit of £6,934.00. The charity ensures the accommodation Continues to be of a good stsndard. Some investments had to be sold in order to finance its expenditure. Principal Funding Source Aside from contributions from the occupiers, the principal fiJnding source for the Charity is from investment income_ Investmgnt Pollcy The Charity has a Stockbroker advising on investments. Some investments are sold each year in order to pay tha ongoing expenses. Reserves Policy To tain the endowment portfolio at a level which produces approximately trthIrd8 of the average annual expenditure of the eharity. Trusteos Selection The Trustees shall consist of not more than eight persons. The vicar shall be one Truske. Comwall County Council may appoinl Trustees and the Royal Alfred Merchant Seamen's Society shall appoint o Trustees. Up to three Trustees can be appointed by the existing Trustee5. Each appointment is made for five years or until earfier vacats"on. A Trustee retiring after five years is eligible for re- appointrnent. Trustee Induction & Training New Trustees are briefed on their legal obligations under charity law, the Charity Committee guidance on public benefrt, the decision making processes and the renI financial performance of the charity. Trustees are encouraged lo attend appropriate extemal trainin9 events where these will faGililate the undertaking of their role. Rlsk Management The Trustees have a risk management strategy which comprises of an annual review lo discuss those risks identified and plan procedures to minimise any wlential impact on the chafty should those risks materialise.
Continued........ PAGE 3 Statement of Trustegs ro8ponslblllties The Trustees are required under the Charities Act 2011 to ppare financial statements for each financial year, which give a true and fair view of the charity's financial activities during the year and of its financial position al the end of the year. In preparing financial statements giving a true and fair view. the trustees should follow best practice and la) (bl Select suitable accounting policies and apply them consistently,. {¢) Make judgements and eslimales that are reasonable and prudent- Slate whether applicoble accounting standard and statement of ¢0MMended practitr have been followed, subject to any departures disclosed and explained in the financial statements., Prepare the financial statements in a going conrn basis unless il is inappropriate to presume that the charity will continue in operation. Idl The Trustees are responsible for keeping accounting records which disclose with reasonable aUraCY the financial position of the charity and which enab them to ensure that the financial statements comply with applicable law and regulations. They are also responsible for safeguarding the assets of the chartty and hence for taking responsible steps for the prevention and detection of fraud and other irregularities. Approval This report was approved by the Twstees on 20 OcTDts< and signed on their behalf by.. Trustee
THE HOMEYARD HOMES INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF THE HOMEYARD HOMES I report on the accounts of the Trust for the year ended 30 June 2025, which are set out on pages 5 to 10. RESPECTIVE RESPONSIBILITIES OF TRUSTEES AND EXAMINER The Chanty's Trustees consider that an audit is not required for this year in aceordance with the Charities Act 2011 (the actl and that an independent examination is needed. It is my responsibility to.. - ExaFnine the accounts (under section 145 of the act)., To follow the procedures laid down in the General Directions given by the Charity Commission (under section 14515llb} of the act and To stale whether particular matters have come lo our attentlon. BASIS OF INDEPENDENT EXAMINER'S REPORT My examination was carried out in ac¢ordance with the General Directions glven by the Charity Commissioners. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. 11 also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from you as trustees concerning any such matters_ The procedures undertaken do not provide all the evidence that would be required in an audit, and corFsequently I do not 8xpre55 an audit opinion on the vlew given by the accounts. INDEPENDENT EXAMINER'S STATEMENT In connection with my examination, no matter has come lo my attention.. 11} which gives me reasonable cause to believe that in any material respect the Irustees have not met the requirements lo ensure that", proper accounting records are kept {in accordance with section 130 of the Acll and,. accounts are prepared which agree with the acc%)unting records and comply with the accounting requirements of the Act.. or {21 to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached. T J Dawson FCA Balme Kitchen & Pearce Ltd Chartered Accountants 25 Lemon Street TRURO Comwall TR12LS Date..
THE HOMEYARD HOMES STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 30 JUNE 2025 PAGE 5 202 2024 TE LlTrrestn"ctsd Funds EndthbTh8nt Funds Bu1ng Fund Repair Fund Total INC ING RE Inc¥Jming resources from generated funds,. CES A(*wties forgeneratirvj fijnds Investment Income other 20.658 20,658 38.321 22,459 38.709 36,321 Total i rnin resouires 20,658 38,321 58,979 61,168 RES UR ES EXPEN C08ts of generatirg fvnds,. Charitable Activities Inv8Strrent Managament Costs Govemance Costs 22.491 14.298 10.960 34,651 14.298 3.096 52,045 36,288 13,768 2.595 52.651 To 3,096 36,789 1,200 lo,0 Net incomingllout90ingl resources GainllLossl on rgvaluabon of inv88trnents Funds brought forwar 17.562 112001 110.960} 24,526 665.655 689,221 8.376 13,9001 1,340.685 1.345,161 34,526 1,4.826 1,498,286 274,012 291.574 489,225 490.757 27,934 26.734 The statement offinano81 adwitEs ItludeS all gains and Ic6ses in tho y•ar. Ml incoming D¢Ir resources expended derivè from continuing 8CtivitEs. The notes on p2ge$ 7 to 10 forni part of tt)es8 accounts.
THE HOMEYARD HOMES BALANCE SHEET AS AT 30 JUNE 2025 PAGE 6 NOTE 2025 2024 FIXED ASSETS Tangible Assets 26,994 28,223 CURRENT ASSETS Listed Investments Debtors Cash at Bank 1,429,621 36,884 8,027 1.474,532 1,392,915 27.042 10,866 1,430,823 CURRENT LIABILITIES CREDITORS. Amounts due within one year 10 3.240 NET CURRENT ASSETS TOTAL ASSETS LESS CURRENT LIABILITIES 1.471,292 1,498.286 1,428,603 1456.826 FUNDS OF THE CHARITY UNRESTRICTED FUNDS.. Accumulated Fund Expandable Endowrnent Fund 291,574 490 757 782,331 274,012 489.225 763,327 RESTRICTED FUNDS.. Repair Fund Building Fund 689,221 26,734 665,655 27.934 715,955 1,498.286 693,589 1,456.826 These accounts were approved by the Trustees on and were signed on their behalf by: The notes on pages 7 and 10 form part of these accounts
THE HOMEYARD HOMES NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2025 PAGE 7 I. ACCOUNTING POLICIES al Basls of Accountlng The financial statements have been prepared under the histori1 cost convention wrlh the eeptIOn of investments which are included at market value and fcsllow the recommendations in the Accounting by Charities- Statement of Recommended Practice. b) Fund A¢¢ounting Unreslricled funds are available for use ai the di8Grelion of the truslees in furtherance of the general objectives of the Charity. Restrict funds are subjected to restrictions on their expenditure imposed by the donor or throu9h the kms of an appeal. ¢1 Incomlng Resour¢•s These are included in the Statement of Financial Activities ISOFAI vh)en,' The charity becomes entitled to the resources The Trustees are virtually certain they will receive the resources,. and The monetary value can be measured with sufficient reliability Where incoming resources have related expenditure la$ with fundraising or contract income) the incoming resources and r91ated expgnditure a reported gross in the SOFA. dl Investment Income This is included in the accounts when receivable. e} Liabillty Rocognltlon Liabilities are recognisèd as soon as the is a legal or constructible obligation committing the charty to pay out resources. Governan¢• Costs Include costs of the preparation and examinalion of statutory accounts, the costs of Trnstee meetings and cost of any legal advice to Trustees on governan or constitutional matters. g} Fixgd Assets These are capitalised if they can be used for rnore than one year, and cost at least £500. They are valued at cost, or if gifted at the v81ue to the chanty on receipt. Investments held as ffxed assets are revalued at Market value at the Balance Sheet date and the gain or loss taken to the Income and Expenses statement of financial activities. hl Oeprèciatlon Depreciation is provided oft all tangible fixed assets in use at rates and bases calculated to write off the cost or valuation less estimated residual value of each assets, over its expected usetjl life, as follows.. - Freehold Property Fyrnilure 20A per annum on the Straht line method Equipment 1 OOA per annum on the reducing balance method 10% per annum on the reducin9 balanca method i) Resources expended Expenditure is recognised on an accrual basis as a liability is incurred All costs allocated belween the expenditure tegOrieS of the SOFA on a basis designed to reflect the use of the resource. Costs relating to a particular aGtivily are allocated directly, others a apwrtioned on an appropriate basis.
THE HOMEYARD HOMES NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2025 PAGE 8 2, ANALYSIS OF INCOME RESOURCES Activities for generating fund8 2025 2024 Interest 830 826 Contribution from occupiers Electric Meter collection Dividends Profit {Loss} on Sale of Investments 18,445 2,213 38,946 19,308 2,751 36,156 Other 1,455 58,979 1,727 60,768 3. ANALYSIS OF RESOURCES EXPANDED Costs allocated to activities Warden Heating & Lighting Repairs & Renewals Rat6s & Water Insurance Garden Expenses Depreciation ort Costs allocated to activities Legal & Professional" Office Expenses Contributions from iers Basis of Allocation Direct Direct Direct Direct Direct Direct Direct Investment Income 2025 Total 2.000 9,188 10,960 5,314 1,281 3,659 1,229 2024 Total 3,900 9.840 8,206 5,725 1,252 3,551 1,232 Occu 2,000 9,188 10,960 5,314 1,281 3,859 1,229 Admin Usage Usage 15,318 15,318 14,696 3,096 3,096 3,428 33,631 18,414 52,045 51,830 Included in Legal & Professional expenditure Is £1.020 in respect of the Ind8pendent Examiner. 4. TAX The Trust is entitled lo Income Tax and Capital Gains Tax exemplron as a Charsty under Section 505 of ICTA 1988. 5. PURP08ES OF FUND8 a) Endowment Fund - The purposes of this fvnd are to provide income for the Charity to run the house. (b) Building Fund - This fund was for the building of the property- Ic l Repair Fund - The purpose of this fund is to assist with any major building repairs or improvements.
THE HOMEYARD HOMES NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2026 PAGE 6. BUILDING FUND 2025 2024 27,934 29,134 1,200 1.200 26,734 27,934 As at 30 June 2024 Depreciation At 30 June 2025 7. TANGIBLE FIXED ASSETS Freehold Pro ert Fumiture E Total At 1 July 2023 Additions At 30 June 2024 55,534 730 1,384 57,648 730 1.384 57,648 Depreciation., At 1 July 2023 Charge for year At 30 June 2024 27,600 1,200 28,800 713 1,112 29,425 27 1,229 1,139 30,654 715 Net book value at 30 June 2025 Net book value at 30 June 2024 26,734 27,934 15 245 26,994 272 28,223 17 The Trustees have estimated the Market Value of the Freehold Property at 30 June 2024 was X. 8. LISTED INVESTMENTS Investments listed on a recognised Stock Exchange. Market Value at 1 July 2024 1,392,915 Additions at cost 208,879 Sales (205,244) Net profit on revaluation 33,071 Market Value at 30 June 2025 Historical cost at 30 June 2025 1,429,621 1,302,771 These investments are managed by CharFes Stanley who makes recommendations to the Trustees for their decision on purchases or sales.
THE HOMEYARD HOMES NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2025 PAGE 10 9. DEBTORS 2025 36,342 542 38,884 2024 26,500 542 27,042 Debtors Prepaymènts 10. CREDITORS 2025 2024 Credilors Accruals 3,240 3,240 2,220 2.220 11. TRUSTEES REMUNERATION Trustees neither received nor watved any emoluments during the year. 12. ANALYSIS OF NET ASSETS BETWEEN FUNDS General Endowment Restricted 26,994 Total 26,994 1,176.958 1,474,532 (3,240) 26,994 1,176,958 1,498,286 Tangible Fixed Assets Current Assets Current Liabilities Net Assets 30 June 2024 297,574 (3,240) 294,334
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PAGE 11 THE HOMEYARD HOMES STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 30 JUNE 2025 2025 2024 INCOMING RESOURCES Interest Donation Dividends Contribution from Occupiers Electricity Meter Collection ProfiUILossl on Sale of Investmenis RESOURCES EXPENDED 830 826 38,946 18,445 2,213 (1,4551 58,979 36,156 19,708 2,751 1,727 61,168 Dit Charitable Expenditure'.- Warden Heating and Lighting Repairs and Renewals Rates and Water Insuran¢e 2,000 9,188 10,960 5,314 1,281 3,900 9,840 8,205 5,725 1,252 Garden Expenses Depreciation 3,659 1,229 3,551 1,232 33,631 33,705 OTHER EXPENDITURE Administration'.- Stockbrokers Management Fees Accountancy Printing, Stationery & Advertising Subscriptions and Sundry Managers Wages 14,298 1,020 339 13,676 1,020 400 105 2.652 598 2,008 TOTAL EXPENDuRE 18,414 17,702 52.045 6,934 51,407 9,761