REGISTERED CMARITY NUMBER: 202033
R•port of th• Tru•l••s and
Fln•nclal Stat•m•nt8 for th• Y•ar End•d 31•t D•c•mb•r 2025
Qu••n Ellzab•th Almshou•
Tradlng •• SIX PAast•rn' Ch•rbil••
The Rthards Sandy Partnershlp
Thomdoe House
25 Barl)oume Road
Worcester
Worce5ter5hi
WRI 1RU

Que•n Ellzab•th Almshousos
Trading a¥ Six Masters. Charlil•s
Cont•nts ol th• Flnanelal Stat•m•nts
f¢f th• Y•ar End•d 31st fJ•c•mb•r 2025
Pag•
R•pvrt of the Tru•t•••
Ind•p•nd•nt Ex•mln•e¥ R•port
Slat•mont of Flmnelal Actl¥ltl•*
Balanc• Sh••1
Not•• to th• Flnancl•l Stat•m•nts
7 10 14
D•tsll•d Sl•t•m•nt of Flnanclal Actlvlll••
15

¢kn•n Ellzab•th Almshouses
Tradlng as SIX Mast•rs' CharltS•8
Report of Ihe Trustees
for th• Y•ar End•d 31st Docembor 2025
The trustees present their rsrA)rt th8 flnandal statements of the charity for the year ended 31$1 Decembèr 2025. The
trvslees have adopted the pro¥isiMs of A¢¢otJnb"n9 and Rep(Mtng by Chariti"es'. Ststement of R￿rnrnended Pr8¢tice
applicable to charities p￿paring their ￿Unts in accordance with the FInar￿la1 Repoiting Stsndard applicab￿ in the VK
and Republic of Iretand IFRS 1021 leffèdivè 1 January 20191.
08JECTIVES AND ACTivrriES
ObJg¢tlvè# aftd alms
Thè principal objectNe of th¢ charity is to prOV￿￿e accomnK*Jation for the Foor peTrorts who are inhabrtants of th8 Cty of
Worcesler. Two bKK*s ol Amshouses, kno￿ as Queen Elizab&th Mmshwses ol Tho Tything, Worcester and Leas
mshouses of Infirmary Walk. Worcester arè in the k)ng stsrmling ownèrship of th& Charity.
Potentlal resldents of Quoen Eltsab¢th'$ Aknshous¢ Chadty mu$1 bg 8xlsllNJ rns*j￿ts of the City of Worc•stsr. Potential
resident5 of Leas AJm5houses mvsl be over age 0160 wth prgler8rw lo women. Maintenance contributions ar&
charged by the tnjstees on the residents. The trustees arts oblwJ8d to rèpaii and Insure lh¢ prowrties and establish and
maintain an E￿aOrdinary Repair Fund.
Any surplus income after payment ol tho cosls of the al￿ and ol appropriats adm¢nlstrgtion and manapmant chafgos
Is to be applied fof the benefft of the r85Klents in the Ajmshousos of th¢ Ch&nty 8nd, subject t￿r•tO. lor the falief in need
for charitable purpose5 for the general benefft of persons resiiJ8nt In or resorbrKJ to Ihg City of Worcgst8r who are In
conditions ol need, hardship or distress and for reliel of the aged aThJ imtntsnt, for improv•d Condit￿n$ of Itfe 8tKJ lor tho
a(Jvancement of ¢dU￿￿"0n for the Inhatltants of Worcester.
Publlc b•n•flt
The trustees confim that tw coMpl￿d wlth th8 ¢Juty in ￿tIOn 1T{51 of tho Chartties 2011 to have due regard to
guidance pu￿1Shed by the Charity commiss￿ on public banofft %th•n rnVith￿ng the charWs aims and obieclives and in
planning future actlvltJ68.
ACHIEVEMENTS AND PERFORMANCE
Charltabl• actlvltb••
The charity operates bolth ¢)Je8n ElrLabeth'8 AlTh*hw888 and Lea'8 AlmslKJu8es almshoJ8e8, both of whlch are Irtsled
in Wor￿$ter.
Alongsido th¢80 8lm8hou80$, tho ¢harity pnwat•$ to suprM)rt dis•dvorttaged in th8 Worc88tar arao.
FINANCIAL REVIEW
Flnanclal po8ltlon
Incoming rosources for the year consiste(l of maintenarth charges from residents arvj investmont Ir*omo. Thtr$0
8mcgunled lo £118,67512024 - £131.505} In totsi.
Dlrèct ¢h¥ritBble exp•ndituro ¢onslst•d m8lnJy of bLFik11tvJ f8Fo4rs and charllabl• gr8nt8. Thls anv)unt&J to £115.91312024
- £138,255).
FollovAng a change in how the lisied inveslments Wd by Ihe endowment fund are managed, the ¢h8rity I[￿Ulr0d
investment manage￿It fees of £9.61712024- £9.4771. paKI out ol reali98d gains from the SBle of listed investments.
Not unr8slricl8d &xp*ndibJr• Yras £4,16312024- £14,0511, aftertransferring £1.(￿￿*12024-£5.l)0O> from total unrestricted
fijnds lo Ihe extraordinary repairTesln'c¢ed bjnd. Totsl unrestrided ftjnds held atthg yearend was £56.13012024- £60.2931.
The needs of the residents have been monitored by the trustees on a bBS¢S. The tru3leg8 wll continu& to wk to
improve the quality of lif8 oflhe re&dents in the and supwt th08e indNKIu818 and charitigs. prO￿dIng supF¥￿t
to the people of Worce3t8r.
Inv•skn•nt polKy •t)d obl•ctl¥
The inveslment power5 01 the chanty are governod by Ihe TFu5tee Act 20(KJ.
The trust86S S88k to m8ximis• long tsmi I￿oMe v￿out exFK)slng capital to uThJue risk and the malority of the irNestrnent
shall bo in UK Gilts and Equities.
P8ge 1

Queen Ellzabeth Al￿￿h9￿*¥¥
Tradlng as SIX M•stsrs' Charltl•s
Report ol the Trustees
for th• Y•ar End•d 31st D•c•mbv 2025
ReMrve• policy
At Ihe year end thts L*8rty hail fvnds as f(410￿..
2025
2024
Ger*eral unrestricte(I funds
Extraordinary repair fund
Endowment fund5- capstsl held In bulldings and investments
56,130
89.314
1 722 224
60,293
88,314
1630 522
1 779,129
Tho trustoes alrn to hold general unresthcted ftmds al a level approximatèly èquivalènt of onè yearfs running Costs for the
provision of acc￿MM0dati0n. in order to $81eguard Its 8th6b.ès against either unfor&seen &Jdrt￿nal costs or a sudd8n drop
In inco￿.
At the year trnd lh& I&v81 offrèa ros8rv8s 4Yas aPp￿XiMa￿lY to orn yearfs aciJyr¥rthab'on runnlng ¢o$ts, vthlth
is in lin8 wth the trust8ès r•serv& Ft)licy.
The pvrrx)se ol *fidOWm￿t fund and restricted fiJnds can ￿ f(￿nd in the Th)tes to Ihe accounts.
STRUCTURE. GOVERNANCE AND MANAGEMENT
Con8tttutlon
The lull nam• of th8 charity is Queen Elyzabeth AJm8hLXW$. Wi$t•rnd uthr numb•r 202033, and has a working nam•
ofsix Masters, Charities. The charfty 15 g4)verr*<J by 1843 Royal Chartgias arr￿d8￿ by supplam8nlal ord&r of 11 Febnjary
1983, together with schem8 of 10 November 1982 arKI conststt)t•s an unirKoworated ¢hanty.
On 22 January 1999. the Chartty Cornmisshm. by direction Under Seclion 96161 of the Ch8rf119s Act 1993, permltted L60S
Alm$hous8s, a ch8nty consliluted on 20 Juty 1977. with a regisiered number of 20203S to bè r89lSt&r8d under lh& sam•
numbor 88 Quaon Elizat*th AJm8hou8es.
R•crultm•nt and appolntrn•nt ol n•w tru•t••i
Tho Board ol Trust8os appoint new Irustees when wnL
D•el•lon maklng
D¥¢iston8 are mgd& by lh• Inmteos in general m88iirvJ and exeujI￿ ollho88 Is ￿￿￿98t•d lo tho Clark.
Rlsk mawg•m•nl
The InJstee5 have a duty to id8ntrfy w)d review th& risks to which Ihe charity 15 exposed, with p8rtl¢ular 8ttèntion to
Tesldenls. health and $8fety, and to 8nsum approprlate controls afe in place to providg reasonable a$sur8n¢& against frau
and error.
REFERENCE AMD ADMINISTRATIVE DETAILS
Rogl•t•r•d Cfiarlty numb•r
202033
Prlnclpal addro
Pear Tree Cottsge
Yarrington Rood
Alfrick
Worcèstershirn
WR6 SEX
Truste
l L Carmichael
Dr R Ingles
IJCSmith
W B Stallard
D Sutcliff
V Wiltshire
P￿e2

Qu••n Ellzaboth Almshou$•s
Trndlng as Si)E Mastsrs. Charltl•s
R•port ol the Trust••s
for th• Y￿r End•d 31st D•¢ember 2025
Indgp•ndènt Exarnln•r
Mèlissa Godwin ACA ACCA
The Riehards Sandy Partnership
Thomelos H￿se
25 B8rt*)ume Road
Worc$slèr
Worceslèrshi
WR1 1RU
Cl•r*
Louks8 Ruane
Pear Tree Cottage
Yarrington Ro8¢J
Alh'ck
Worcèstershlre
WR6 SEX
Inv•stm•nt Managern
EFG Harris Allday
33 Great Charf¥s Strwt
Blrmingh8m
B3 3JN
Proporty Manag•m•nt Ag•nt•
Philip Laney And Jolly Limited
23 Worcester Road
Malvem
Worc8Stetshlre
WR14 4QY
Approv8d by order of tho board of trustees on ...........
. swnod on its t¢half by..
W B Slallard- TnJst8•
Page 3

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Queen Ell¥ab•th Almshouses
Tr¥dlng as Six Mast•rs' Charltl••
Statement of Flnanclal Actlv5tl•s
for th• Y•af Erth 31st D•¢em￿r 2025
2025
Total
fund8
2024
Total
nds
UrWeSt￿t&j
lunds
Restricted Endov+Thent
fijnds
funds
Notss
INCOME AND ENDOWMENTS FROM
CharStablè actlvltl•8
Provision of accommodatKJn
71.264
71,264
72,354
Investment income
59,151
Totsl
118,675
118.675
EXPENDMJRE ON
R*l¥lng lund8
Investment rnanag8ment Costs
9,817
9,617
9,477
Charltabl• actMII••
ProvisK)n of accommodation
Rellef ol poverty and hardship an
general ben8fit ol the Inhabitsnts of
Wor￿Star
78.oe8
78,088
84,455
53,799
Totsl
147.731
Net g8in8 on Invg$tm8nts
101319
101319
NET INCOMEIIEXPENDMJREI
13.163)
91,702
88.539
8,596
Trantyfern ￿•t￿￿n lund•
Not mov•m•nt In fund•
91,702
88.539
8,596
RECONCILIATION OF FUNDS
Total funds brought forwar
60.293
88.314
1,6311,S22
1,T19,129
1,770.533
TOTAL FUNDS CARRIED
FORWARD
1,779,129
Th¢ Th)tes form part of these fin8noal statements
Payo S

••n Eltsaboth Alm$hou$
Trnding as Six Master5. Charitie
8alane• Sheet
31st D•e•mboT 2025
2025
Total
fund¥
2024
Total
ftjnds
Unrestricted
ftjnds
Rtsstrict*l
ftlnds
Endo￿nèftt
funds
Notes
FIXED ASSETS
Tangible assets
Investments
12
13
500.000
1205 390
soo,000
1205 398
500.000
1.126,797
1.705.39fj
1.705.396
1.626,797
CURRENT ASSETS
Debtors
Investments
Cash al bank
14
15
12,078
12.078
75,000
84.816
7.143
75,734
79,888
75,01
16.828
65.752
89.314
11,828
171.894
162,765
CREOITORS
Amounts f811ing due vllhkn one
year
16
(9.6221
19.6221
110.433)
NET CURRENT ASSETS
152,332
TOTAL ASSETS LESS
CURRENT LIABILITIES
56.130
89.314
1.722,224
1,017,660
1.779,129
NET ASSETS
89,314
1867 668
FUNDS
Unreslricled funds..
General unrestricied lund
Rgstricled lun(18'.
Extraordinary repalr fund
Endowrnnt funds..
Capltal held in bulldings and Investmants
17
S6,130
80,293
89,314
88,314
1 722 224
1,630 522
TOTAL FUNDS
1867 668
1779 129
Th& finan¢l¥l Stslements were approved by the Board 0fTnAt￿ and aLrtI￿8•y for Iswe on ... . ........................
nd wor¥ swJned on Its bohalf by..
W B Slall8r<l - TNsltse
The notes form part of I￿Se finanaal statements
Pagg 6

Qu••n Ellzab•th Almshou¥es
Trndlng as SIX Master5. ChafftJe8
to th• Flnanclal SLthments
for the Year En(led 31st D¢¢•mb•r 2025
ACCOUNnNG POLICIES
BASIS OF PRepARING ThE FINANCIAL STATEMENTS
The f1nanci815tste￿nts of the charity. which is a public 8nty und&r FRS 102. have besn prèparèd In
accordan￿ thè Charities SORP IFRS 1021 'knnb"ng and Reporting by Charitiès.. Slatement of
Recomrrend8d Practice applrcable to tharities weparing theiracu)unts in accordance wth the Finan¢ial Reporting
Standard ap￿Icable in ihe UK and RepublK of Ireland IFRS 10211gffeth"v$ 1 January 20191., Financi81 Rèporting
Standard 102 The Finanrial Rèptht"ng Standard applicable in the UK and ftepubI￿ ol Ireland. and the Charitses
Act 2011. The fjnancial ststements have tttn Fvjared undef Ihe historic81 ¢ost conv￿li0n, wth the exception of
Invoslments wh￿h are included at market Wal￿. as ￿J[fied by the ￿ValUatiOn of ¢èrtaln assels.
Thw flnancial s&itements arè popar•Y kn Stertry, Ithich is the fts￿11￿¥1 cur￿neY of the tharity. All monetary
amounts are r￿jnded lo the ne8resl £1.
INCOME
All Incom• is 18c0￿￿d in the Ststernont of F￿8￿181 Actsw"ties orTh the charity h88 gnlld8m8nl to th8 funds. It18
probabl& that tha Ir￿Me will be re¢xiv8d th8 arr￿nt can b8 M￿s￿r￿j reliawy.
M8intenance ¢haffJ•S receN8d frorn resKlents of the almshwses is r8cg)griis•J in lin8 vhth th& p8rlods lo whlch bt
relates.
Llsled Invesknwnt incomo Is rwnlwj in tho Incg)m• s1otom8nt wh8n they ar8 d8darod.
EXPENDITURE
Ll8bilib'9s ar8 recognlsod as oxponditure as as • l•gal oreonstwthe oblbJ*)n committlng the charity
lo that expenditure, it Is probabKg that a transfer Olecor￿M￿ t*n&fits wll ba required in settlemonl and th8 amount
of the oblig8tlon ¢an be m&asured mliably. Exp8ndilure is accounted for on an accfuals basi5 and hag bèèn
classified under he8dlng$ that aggf8gate all cost related lo the c8le9¢yy. Whèr8 costs cannot be dirèctly 8¢tributèd
Its parts'cular ht8dings they heve b•en allcuted to ac11v￿88 on a b8818 o)n81glent vAth the use of resour￿8.
Grants payable are chargèd to •XP8ndibJre vknen the offer is cvrw•yod to tha rncipient, unless the offgf 1$
condition81 in whi¢h cose such grants are charged to expendsture when conditions attaching are fulfilled. Grants
offered subject lo ￿nditIc￿8 vthich have not been Tr￿1 al the y￿r fjnd 8m noted as a commilrnonl. but not accnJ8d
05 OM￿n￿ltUre.
TANGIBLE FIXED ASSETS- FREEHOLD PROPERTY
Fraahold property ralales to almshouses held primarily for th• of socaal b8ntrfits in 8co)rdance w¢th th8
obla¢tiv8s of th8 charity.
Frnehdd property is me•surnd 8t ¢osl l•ss any pro￿s1￿5 fordepreci8lion ty Impalrmant.
On first timè adopb.on ol FRS 102 and Charities SORP IFRS 1021 the chanty applied Ihtr flrst t¢mè adoption
•x8mptK)n to measure freeho￿ property using 8 past vAILtation as deemed cost. The past valuats.on was perfornied
by thè truSt￿S when the freehold prcygrty was first brought into the actounts on 1 January 2002 followng a
previous change in acownting opp1￿￿.
The trustees consid8r that the free￿￿d L9nd has an Indefinite￿ long uselul Irf6 and thal a provis￿n for daprnciation
th¥rglorè is not 8PPfopfigte. The lrnehold buiklings 8r8 subiact to a programme of repairs dèsignèd to maintain
thasè assèts lo a high slandard. ACCO￿ln91y. th• trustees consthr that the lryes of th￿• Assets are so bng and
the r88Mlu81 values are so high Ih81 any depr8c1attr￿ would be materid.
TAXATION
The chanty iq exernpl Irom tax on its tharitatle actiw'ltes.
FUND ACCOUNTING
Unrnstrict•d funds can be use(1 in a(xThdance wrth the Charilab￿ objecb'ves 31 the discrnticffi of the trustees.
Restricted funds can only be used lor particular reytnct￿1 puwses wrthin the ot¥'ect$ of thg chArity. Restriclw)ns
arise when specified by Ihe dO￿r or vthèn funds are raised for par￿￿lar reslrict8d puq)os8s.
The Endowment funds ¢xe8les which i8 used lor the chaiilw Unre$lJic￿d actiwbes.
Further eX￿anation ol th8 nalurn And WTF*)se of frjnd is indLJdwJ in thè notes to the financial statement8.
Page 7
continued...

¢kn•n Eltsabeth Alm*ht￿￿&
Tradlng a¥ SIX Mast•ts' Charlll•s
Not9• to th• Flnanclal Statemenls - contlnued
for th• Y•ar End•d 31st D•c•mb•r 2025
ACCOUNTING POLICIES- contlnu•d
FINANCIAL INSTRUMENTS
The charity has elected to awy the prcwisions of Secticffl 11. Basic Flnandal lnstrJn￿nts' and Section 12'0ther
Financial Instruments Issues. of FRS 102 to all of its finar￿￿￿1 ir￿trUM6nts.
Finanaal instruments are feCc*3nl¥￿ wl*n the charity be(X)M￿ party to witractyal provlsions of the Instrument.
Financial a&8ets are offset, with the net arThJunls Presen￿j in lh8 &counts where there is a legally enfortèabl
right 10 Set off Iho recognised arrwjunts and IheTr is an Int￿11￿ to s¢tUè on a net basis or to realise Ihe asset and
Set1￿ the liability simullanèously.
Baslc Flnanelal A•s•ts
Basic financial assets. whth indude tr#de and othor roceivabl8s and cash and bank b81an¢ss, arè Initlally
mèasurad at transaction price including IrdnsaetK)n costs atyj aro subsequenty carried at arrrf)rts"sed cost using lh•
effeclive interest rnethod unlgss thè afrangement consb"tutes 8 financang tr8n$action. wherè th• transaction Is
me8Bured at the prwnt value of th• fu￿re r8c•pts dlBcwnted at a m•rk¢t rato of Intor88t.
Ba•lc Flnancl•l L￿bIlItI•#
88sK finanryal liatM"lib"•s. induding trade and other p8yot)10s, 8r• Inltially rwntsod at transact￿ prico unloss lh&
8rr8ngemenl eonstitutes a financing trarwcb'on, whefy the d&bt Instrunwnt is measured at the present value of
Jlure recelpts, dSscount•d at a markel ra￿ ol intor95L O¥bt ir*lnJm8nts are subsequ8nUy carried al arn￿tised
cost, using th4 •ffèdiva interest rate rneth¢)J.
Trad8 payable5 are Otligal￿S to p•y lor goods or Servic￿ that hav8 been ary]u￿¢d In tho ordlnary 01 th•
OP8rations from suppller5. Accounts pay8blg are classifi•J as current Iiats'lrt￿5 rf p8ymenl is du& within onè y8ar or
18$s.11 not, they are presented as non-tyJTrenl liabilities. Trth payaU8s are r8cognis8d Snilialty al Iransa¢tkJn co$L
LISTED INVESTMENTS
Listed Investments are stated in lh¢ ffinoncial sthtements at their 0￿ market valu& 81 the balance sheet date.
unr￿lIse¢l Bnd realised gain8 and bs868 8re in Iho St8tsment of Financial Athlw.
INVESTMENT INCOME
2025
2024
Llsled inve8tm8nt Ir￿
Bank interg8t
44,117
,702
59.151
INCOME FROM CHARITABLE ACTMTIES
2025
2024
Maintenance charps
Pagg 8
ntinued...

Qw•n Ellzab•th AlmshtyA•s
Tradlng as Six Masters. Charilles
Not•¥ to th• Flnancl•l Stat4m•nts- e4)ntlnued
for th• Ywr End•d 31st D•c•mb•r 2025
INVESTMENT IIANAGEMENT COSTS
2025
2024
Investment mana9erfees
9.617
9.477
CHARITABLE ACTIVITIES COSTS
Grant
ftmding ol
activities
(see notè
71
D1￿ct
costs (see
notè 61
Supk>>t
ts)Sts (see
not8 81
Totals
Provlskn olattommod8tlon
Relief of rK)vety and hardship and 9￿•raI
bonefit of the inhabitsnts ol Wowl•r
71163
5,925
78.088
43.750
43.750
n.163
43.750
DIRECT COSTS OF CHARITABLE ACTMTIES
2025
2024
Property management f888
Council tax and water
IrvdurBn¢e
LkJhl and heel
Cleaning
Glfts to r881den
Sundries
8uildir4J repBirn and nh)dtrmi88lion
TV1I¢gn¢•
subxripts.ons
W•b$rtg
9,332
4,373
3.516
17.748
550
1,300
363
34.277
5,880
4,446
3,480
17,673
475
1,300
139
45.425
68
407
280
419
217
Page 9
continued...

ljueon Ellzab•th Almshou¥
Tr•dlng as SIX IAastsrs' Chariti•s
Not•s to thè FSnancl•l Stat•m•nts . c¢n¢lnued
lor th• Y•ar Ended 31st D•cember 2025
GRANTS PAYABLE
The total grants paid lo lnslltut￿S duriThJ yewwas as folbws..
2025
2024
Acoms Children's HOsp￿e Tntst
The Amiehair Trust CIO
Hereford & Wor%xst¢r Army Cadel Force Charitablè TrL*t
Maggs Day CÈnb*
Museum ol Royal Worcester Parrins Museum TnJ611
The Myriad Centr& Limited
Onside Independent Advoc
Perdisw*ll Young People's Le￿￿r• C•ntre
St Paul's Hostel
St Rlchards Fkxpice Foundation
Worcester Communty Tnjst
Worcester Food Bank IP.C.C. 01 Th8 Ec(lèslasb"cal Parish CX St Nthdas &
All Saint'$ Wucest•rl
Worcester Snoez$l8n CIO
The GoThl Soil Trust
Worcest&rshirfr Breast Unlt HJv8n
9.000
3.000
2,000
4.500
2.000
3.250
2,000
15,000
2,500
2,500
2,500
5,000
2,000
2,500
12,500
3.000
9,000
2,000
2,000
2,000
2,000
2,000
SUPPORT COSTS
Support costs. IndLhJed In the at*)ve. are as lollows:
2025
2024
Bank charge$
Independent ¢xgmln8r 18e5- inde￿0n1 ox8m
Clerk's fees
88
1.782
1.860
TRUSTEES. REMUNERATION AND BENEFfrs
There were n¢ trusteès, remun8ralhJn or other benefits for th• yogr eThJod 31st D8cernb8r 2025 nor for Ihg ygar
ended 31$1 Dec8mber 2024.
TRUSTEES. EXPENSES
There w8r8 no trust8os' ex￿n803 for year 31st D￿ember 2025 r￿1 for the year ondod
31sl Dècember 2024.
P8g8 10
ntinued...

QU•￿ EliZa￿th Alm$h¢xts•s
TrJdln9 as SIX Ma¥tws' Charltl•s
Notes to th# Flnan¢W Slat4mwts. ¢￿tsnu•d
forth• Y•ar End•d 31st D•c•mb•r 2025
10.
STAFF COSTS
There were no staff erwoyed in either the OJFrent or wior year.
11.
COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTNMES
R8skn¢t8d
funds
Endowment
(unds
Total
funds
fttnds
INCOME AND ENDOWMENTS FROM
Ch•rlt*bl• •¢tlvltl••
Provision of accomnY*Jalbn
72,354
72,354
Invgslmgnt Incomg
Total
131,S05
131505
EXPENDITURE ON
Ral•lng fvnd•
Inveslmenl rn8n8g•mont ¢osts
7.176
2.301
7,178
9.477
Charltabl• actlvld••
Provision ol accommodation
R81ig1 of povaty and hardship and goMr41
benefit of thg Inhabttants ofWorc8sler
84,4S5
84,455
Total
7,176
147731
Nel gaift8 on inv881m8nts
24,822
24,822
NET INCOMEIIEXPENDITUREI
Tr•n•f•rty b•twwn fund•
19.050)
17.646
8.596
N•t mov•m•nt In lund•
(14.050}
5,oc*)
17,646
8,596
RECONCILIAnON OF FUNDS
Total funds bnxsght lO￿a
74,343
83.314
1.612,876
1,770,533
TOTAL FUNDS CARRIED FORWARD
,293
1630 522
1779 129
12.
TANGIBLE FIXED ASSETS
Freehold
property
COST
At 1st JaTrdary 2025 And
31st December 2025
NET BOOK VALUE
At 31st December 2025
At 31st Oecember 2024
so0.￿0
The freehjd property was bro￿ht ¥)to th¥ aoywnts 1 January 21x12 using a valuation ma(le by Ihe trustg9s as
its deemed histori￿1 r￿st
p￿ell
continued...

Quoèn Elizaboth Alm$hou$
Tradlng as SIX Mastorn. Charlt
Not•¥ to the Financial St•tem•nts - eontinu•d
for lh• Y•ar End•d 31st D•e•mbgf 2025
13.
FIXED ASSET INVESTMENTS
Listed
investmènts
MARKET VALUE
At 1st January 2025
Addltions
Disposals
Revaluations
1.126.797
55d,484
1577,2031
101318
At 31sl December 2025
1,205.396
NET BOOK VALUE
At 31st D￿eM￿r 2025
1205.396
Al 31st Oecember 2024
1.128 797
14.
DEBTORS.. AMOUNTS FALLING DUE IMTHIN ONE YEAR
2025
2024
Maintonanco charg8 dabtors
Other debtors
Prepayrn8nts and accnJ8d incom•
1.080
2.762
6,352
15.
CURRENT ASSET INVESTMEP4TS
2025
2024
FIx8d tarm deF#)sil a￿Unt
16.
CREDITORS: AMOUNTS FALLING DUE wrrHIM ONE YEAR
202S
2024
Trade crodltors
Delerred Incom
2,775
3,150
3.940
3.490
Déferred ￿n￿rne relates to rnalntenar￿ ¢horp¥ inv(¥cad to resld8nts ofth• alff4ttou￿ in advance ol tha p8rfod
lo which they relate.
Ptye 12
continued...

Qu••n Ellzabeth Alrnshou$oS
Tradlng as SIX Mast•rs' Charitles
Il*)tes to the Flnancl•l Slalements - ¢¢)ntinued
for th• Y••r Ended 31st December 2025
17.
MOVEMENT IN FUNDS
Transfws
between
tunds
movemenl
in funds
At
31.12.25
At 1.1.25
Unrestricted lun
General unrestricted fund
60293
(3,1631
11,000)
56.130
Re#trl¢t•d lund•
Extraorilinary repair fuTh
88.314
1,000
89.314
Endowm•nt fund•
Capital held in buildings and irwestrTwts
1.630.522
91.702
1.722,224
TOTAL FUNDS
1887 868
Not mov•m¢nt In lunds. kndud•d in abm are as fdkm..
Incomirvj
Gains and
loss8s
Movernenl
In funds
Unmtrl¢t•d funds
G?￿re1 unrestnthj fvnd
118.675
1121.8381
13,1031
Endowm•nt lund8
Capital held In buildiThJs and investments
(9,8171
101,319
91,702
TOTAL FUNOS
118075
131
101 319
Comparntlv•* fi)r mov•m•nt In fund•
N8t
mov&m8nl
In funds
Transfers
b8ts¥een
fvnds
At
31.12.24
At 1.1.24
Unr￿trICt•￿ lund•
Gèn8ral unr8striet6d lund
74,343
(9.0501
15,0001
80,293
R••trlctsd lunds
Extraordinary repair fund
83,314
5,000
88,314
Endowm•nt lund•
C8Pltal hold In buildin9$ and investn
1.612,876
17,646
1.630.522
TOTAL FUNDS
1 770 533
1779 129
Pago 13
ntinu8d...

Qu••n EllIa￿th Almshous••
Tradl•)g as SIX IAastsrs' Charlil•s
Not¢• to the FinJn¢io1 St¥tements- wttinued
forth• Y￿r Endg0 31st Doc•mb•r 2025
17.
MOVEMENT IN FUNDS- contlnued
Comparative net rnovement in lunds. I￿V(led in Ihe atthe 8re as frAtYWS'.
IncomiThJ
Gains aThJ
h)sses
Movement
in funds
Unr•$trlctsd fvnd•
Genèral unrestricted fvnd
131,505
1140.5551
19,0501
Endowm•nt fun¢h
Capital held in buildings and irwest
(7,1761
24,822
17.646
TOTAL FUNOS
147 7311
PURPOSE OF EACH FUND
The LJnre5trict8d 98n8ral lunds are usèd lor Ihe day trj d#y running of the charity and the provjsion of gr8nts In
accordanc& Iha trust dè8d. Th8 balancè repf8sonts accumtslatad funds avallatAè fof fvtur• •xwndlture.
The restrtct8d extraordlnary repalr fvnds are a requlremenl of the charitys govemin9 document for the purpose of
providing for the exiTaordinary repair. improvement or rebjihling of ihe al￿￿hOuse$ belonging to the charity.
Transfers aro mad8 into the extraordThry rnpBirfiJnd5 each year, %thlch is a requirem8rrt of ihe trust d88d.
The endowment ftjnds arose on the forma¢>on ol the tharity. The wrpose of the endowment ￿ndS is to provide
to achieve the general objectives ol the thanty. The capital of the endowm8nt cannot be expended.
TRANSFERS BETWEEN FUNDS
The trust deed requireB Ihal • tr8nsler 18 m8d¢ into the exlrnordinary repair fund each ye8r from unroslrictod lund8
of al18ast £780. This year an arTK)unl of £1,000 been trnnslerred ￿10 thg gxtrMJin8ry rgpair fund.
RELATED PARTr DISCLOSURES
T￿r& warn no reLgt8d party tran￿clI)n3 for tha yaar 31st 2025.
Pagè 14