EVENTIDE HOMES The Eventide Homes Annual Report and Financlal Statement$ YeaT Ended 31 December 2024 Charity regislralion number.. 202516
The Eventide Homes Contents Raf9rence and Administrative Details 1 to 2 Tru$lee5' Report 3to 10 Stslemenl of Trugtges. R9spgnsiblllb"e$ 10 Independent Auditors. Report 111014 Slalement of Financial Activities 151016 Balance Sheet 17 Cash Flow Statement 18 Notes to the Financlal Slalements 19to31
The Eventide Homes Refence and Administrative Details Trusto•8 Mr. K J Mantock FRSA, Chair Mr. D W Roots. Vice Chair Mrs C Barker Mrs. L Barker Mr K Beckingham Mf. P R Fr8Ètnan Mr. R Hucklesby Mrs. D Manlock Mr J Redston Ex-offiao Trustees.. The Mayor and Deputy Mayor of Boumemoulh. The ex-officio Trustee3 periods ol service to th8 Charity co-ineid8 wlth their tèm)s ol office as Mayor and Deputy Mayor rbsp8Ctiv8ly. Tho remaining Trustees SeNed throughout the year. except where olheNise indi¢alèd. Page 1
The Eventide Homes Reference and Administrative Details Senlor Management Team I Leadershlp Team Mr. J Waters, Chief Executive Officer Mrs. D Knight. Residents, Man8ger r. A Goodbourn. Maintenance Assist8nl lunlil 30 September 20241 Mrs. L Maine, Community Assislant ltrom 01 February 20241 Prlncipal Offl¢e Evenlide Home 57A Edgecombe Gardens 605 Castlts Lane Wesl Bournemouth Dorset BH8 9TW Charlty Reglstratlon Number 202516 Bankers S8nland8r UK plc Bridle Road Bootle Me15ey5id0 GIROAA CAF Bank Ltd 25 Kings Hlll Kings Hill West Malling Kent ME19 4JQ Investment Managèrs CCLA Investment Management Limited Senator House 85 Queen Victoria Street London EC4V 4ET M S G CharilES P.0. Box 9038 Chelmsford CM99 2XF Audltor PKF Fr8ncis Clark Statutory Auditors Towngale House 2-8 Parkslone Road Poo Dorset BH15 2PW P¥Je 2
The Eventide Homes Trustees, Report The Trustees present the annual report together with the finanrAal statements and auditorfs rèport of Ihe charily for the year ended 31 December 2024. The financial slalemenls have been prepared in accordance with the accounting policies set out in nol8S to the accounts and comply with the charitls governing documènt, the Charities Ad 2011 and Accounting and Reporting by Ch8rilies'. Statement ol Recommendèd Piactice applicable lo charities preparing their accounts in accordance with the Finanaal Reporung Standard applicable in the UK and Republic of Ireland ISORP IFRS10211. Trusteès of the charlty Th$ Trustèes who havè 58rv9rt during the year and since the ygar and warè as follows.. Mr. K J Mantock, Chair (Electad on thè 26 April 20241 Mr. D W Roots. Vice-chair (Elected on the 26 Aprll 20241 Mrs. C Barker (from 19 July 20241 Mrs. L Barker Mr. K Bèckingham Ilrom 19 July 20241 Mr. P R Freeman Mr. R Hucklesby Mrs. D Manlock Mr. J. Red5ton R8v. P Renyard luntll 26 Aprfl 20241 Mr. A Ststhopoulos (until 28 April 20241 Obl•ctlves & Actlvlties The Eventide Homes comprises ol sèventy-ffive. individual dwellings in Castle Lane Wè51, Bournemouth. These are provided for persons over the age of 60 who, through bereavement or othor misfortune, are left without adequate means and arè In n8ed of assistance in the provision of a home. Thè printipal objeclives ol thè Charity 8re lo ensure that it continues to seNe Ihose in ganuine need ol almshouse accommodation, that the Homes are rnaintained to modern standards in ordei lo provide an acceplable quality ol life lor thp residents, and that (he Charity is properly funded and administered. In order lo achieve the first of these objectives, tha Truste85 receive 8nd con8ideT applications from potential residents", decisions as to the eligibility of applInIS are made on the basis of leVant low, the provisions ol the Trust Deed and appropiiale precedents. The Trustees airn to enhance the qualily of life of th6 residents by providing attractive grounds on the eslale and a cornmunily hall for social and recreational usè. The Charily èmploy a tÈ8m of staff who oversee the day-to-day admlnistralion. maintenance ol the e5ts1e and support the residents, ability lo live independently, fostering a sense of COTnmunity, collaborating with outsourced experllse and other stakeholders. Public benefit 5tat8ment The Trustees have considered the guidance issued by the Charity Commission and confirm that they have complied with the requirements of section 4 of the Charitie5 Act 2011 regarding public benefit. They believe that since the Charity was founded in 1936, it h8s worked consislenlly lo improve the quality of life of older people of limited means, who have aayS been a significant and vulnerable 8edion ol th8 community. Page 3
The Eventide Homes Trustees, Report Although the beneficiaries do bear a significant proportion of the operating costs of the Charity through the payment of weekty rna1n1enan ¢onlribulions I'conlribulions'l, the latter are sel al a level well below market rentsls and the Charity uses all 115 other iOrne lo pay for the balance of annual 8XP8ndilur8. Tha Trustèès comparè contributions with market rentals at regular intervals lo ensure that a consistenl relationship beeen Ihern is maintained and that Ihe contributions paid result in material charilable benefits accruing lo residents. The Trustees also consider Ihal the Charitys provision 0174 uni15 of socTral '3ffordable' housing in Boumemoulh makes a modesl contribubon of accommodation lo the wmmunity that would othèrwise ba¢omg the responsibility of the various local 8Uthorilios. The TTU51ees do not appty any 9eographical restriction5 to potential beneficiaries and they Ènsure that, as a charity dedicated lo thè ielief of poverty, Evenlide Homes d985 not us8 9811Uln8 inability to pay contribution$ 8$ a critèrion for rojecting an applicant. Howevèr. where rt app88rs that a person in possassion of th8 nècassary funds may wilfully fail to pay their contribution. based on their prewous credit history. the application may be rejected on the grounds that any shortfall in income is likety lo pul the Charty al financi81 rlsk and conse4uènlly be delrirngntal to the wellbèing of othèr residents. Whilst Ihe Charity can only provide almshouse accornmodalion to older people, the Tiuslees are comrnitted to promoting equality and diversity within the Charl8 policies, praclices and procedures and r8cognisè Its rasponslbllities ut)der the Equallly Act. Research published by Bayes Business School in 2023 reveals that living in an almshouse can boost the longevity of ils residenls by as much as 0-and-a-hall years compared to their counterparts in the general population. ITr Nov8mbér 2021, r8588rch published by the Housing Learning and Improvetnent Nefvrfork ILINI, revealed that almshouses provide a range of f(n8ncial benefits to the health and social care economy as well as wider financial benefiis. induding.. Lower likelihood of re5id8nlial care admission. Reducllon in the likelihood ol the usè of domlelllary c8r•. * Rèduction in arnbUlan call-ouls (linked to lallsl. . Reduclion in length of slay and delayed distharges from hospit. . Reduction in GP and A&E visits as 8 r85uII of lowei incidence ol longline88. . Investment in local econorniès through expgnditurè owi Staff. + Tha aconomic value of volunteering. The prowsion ol affordable housing. • The'freeing up. of housing in Ihe wider housng markeL 11 is &slimatad that living in an alMshoSe generates financlal benafits to the social care and health economy 01 £1.340 per almshouse resident. per anThum. Page 4
The Eventide Homes Trustees, Report Strateg1¢ Report Achlevoments. porfomiance and luture plans In 2024, we managed lo renew the roofing and insulation of one block of four hom9$. In 8ddilion, and in consideration ol there being a greatei need for sing16 oceupanl dwollings in the area, WÈ eonvèrtèd ona large dwelling back into 0, as they once were. decades ago. Thg Charity was able to houso seven new beneficiaries in lolal. The tolal amount spent during the year on maintenance was £69.252 12023 £91.366} . Additional capital amounts of £195.323 12023 £147,343) w8re expend8d on major home improvèment$, suth as the woofing and conversion works. The total outlay under all headings on property 01 £284,575 rbflecis Ihe continuous ernphasis Oll this aclivity (2023- £238.709) . In 2024 the Weekty Maintenance Contributions that residents pay ranged from £95 10 £150 per week, depending on Ihe type of home. All conlribulion5 a18 inclLSSIVg of water and sewera9# ¢h8rgas. The Charity also continued its plans for thè Improvemènt ol the Assembly Hall. In 2021. followlng iesearch and a residenl consuttalion, the Trustees concluded that whist the hall has been the focal point for the communily lor almost 90 years, over Ihe years expectations ol our ie5idents have changed. and today the space 15 undeTused. W8 want to provide a flexible open meèting spa(x, with a lowered ceilng and lighting that can ba 8dju$led to meal thg ngeds of any givèn day. Planning Permission lo improve the Hall was granted in late 2023. In 2024, the Trustees analysed the costs involved and carried out a lundraising feasibility study. The Trustees have cre8led # d9519n8led fund within 118 investment portfolio which would be exclusively used foi this project and forecast a shortrall of around of £215,000 lo lully realise the vision lor tha hall. In 2025. applications will be madè lo extem81 grant lunders and donors to fund the shortfall, ahead of the improvement works planned for 2026. In earfy 2024. residents wer6 consulted for their view5 regardin9 community engagemènt, as w811 as their well-balng and quality of life. This helped shape a programmè of events that the Resident Forum and staff facilitated throughout the resl ol the year. As well as the normal activities held in the hall on a weekly basis, there were one-off fundraising events in support of the Hall Improvements, such as a coach trip, and residents enjoyed a fish and thip lunch, a picnic in the garden. and a cheesg 8nd wine evening. The R85idents' Gardenlng Club had several communal planilng days In 2024. The Charity actively èncourage lh8 Club, and il is well supported winning awards in the Bournemouth in Bloom horticultural competition. The Club developed a new initiative in 2024, again in support ol the Hall Improvernenl Project. whereby neighbours helped Ihose who were les5 able lo lend lo their own gardening areas. This brought neighbours together in sharing a common p8ssion and helplng lo help combat lonelines5. The Charity contlnues to Snleraet wth othef Charities. Tha Charity Is a Member of the Almshouse As$ociatlon and the CharlS Chief Executive Officer is a 'Regional Peer Representative., acting as a point of coniaci locally. Policy on reserves The Charity's reserves al 31 December 2024, excluding reslricled funds. lolalled £4.711,273 12023 £4,417,239) as detailed in Notè 16 to the accoun15. Restricted funds lolalled £411,852 12023 £401,364) as detailed In note 16 of the aceounls. Total reservès arè £5,123.12512023- £4,818,603) Page 5
The Eventide Homes Trustees, Report The General Fund is a reserve lo cover part of the normal annual oulgoings of the tharity. At balance dale thÈ Revénuè Fund w85 £91,892 12023 - £247,671). Dèslgn818d Capital Funds cons151$ ol fixed assels and non-restricled fixéd asset investm8nls. At bAlan date this Fund was £4,619,381 12023 £4.169,5671. The Trustees are satisfied with the level of Te3eNes, which are rnonilored and reviewed by the Trustaès on a Quarterty basis. Investment Managemenl The prlmary purposè of the investment portfolio Is to prode 8 substantial Income strèam lo the Charity Ihat is indapendent of the income recèived from residents, thus enabling tha Trusteès to keep the Weekly Maintenance Contriblrtions for accommodation well below market renls. The Trustees therefore believe that it Is essential to retain the capital element of the investments indefinitely. CCLA Invèslmènt M8nagèm8nt Llmltèd CCCLA,) has managad all tha Charitys rèstNct8d Invastmants Ilhe WH Ridout Fund) and Ihe majority of ils UnStriCted investments since June 1998 in a single portfolio. The latter comprises of a holding in the Charities Official Investment Fund ICOIFI Ethical Inveslrnenl incorne shares. with the remainder being irhvestgd in the COIF Property Fund., the restriclgd inveslrnents are 5gp8ralely Klenlified witl¥n Ih? two COIF Fullds. The rnanagerfs tsrgel Is to athieve a a lotsl retum (growth in ¢apital and income) over the long lerrn Id8fin8d a¥ five ye3r51 of UK CPI + per 8nnum. The wMpar8tor benchrnark for the relLtm on the main COIF Ethical Investment Fund Is a composite of 75% MSCI World Indèx. 15Qk Markil IBoxx £ 'Ils Index. 5% MSCI UK. Monthly Property Index. and 5% Sterfing Overnight Index Average. In addition tts tha various COIF invostmènts managed by CCLA. thè Charity also has holdings in thè Charity Mulli Asset fund. managed by M and G. 11 includes Iwo other accumulating designated funds. One is a'Development Fund, valued at £484,164 as at the 31 December 2023, to help finan longer term opportunities to further the Charitys aims. The olher is a 'Hall Improvement Fund,. valued at £357,760, as at thè 31 Dèc8mber 2024, to help finance Ihe plans foF our A558mbly Hall. The Trust885 started Invastlng In ihese funds in 2022. WH Ridoul Mem181 Fund In accordance with the SORP requirements this fund 13 restricted. The lerrns of the bequest in the will of W H Ridoul thal 'lhe share taken by ihe T¥uslees be used excjusively for or towards the maintenarn and prowsion of hornes for Ihe aged ol Bournemouth, continues lo be fulfilled. Any income received frorn Ihe3e inveslrnents is oftsel again31 Property maintenance expenditure in ae¢ord8nce with th8 term5 of the beque$l. In 2017 tho Challty diversified its portfolio. pur¢hasing an adjacent propety 8nd ranting th8 home on the Open Market. The Rent 15 used lo support tha aims and objeclves of the Charily. There are other inveslrnenls in the portfolio. Thè Tws198S alé satlsfi8d wilh tha m8nagerfs pèrformani* kn 2024. Thèy (xjnlinuè lo monitor the performance ol this Fund and to keep thè position under regular reviow. Investm&nl roports are received quarterty and a meeting with the manager to review investment performance and policy is held each year. Pap6
The Eventide Homes Trustees, Report Ethical Investment Slalem6nl We encourage and expect our Fund Managers to take social, environmental and ethical considerations into account when a5se53ing the suilabilily of inveslrnen15 in order lo meet the Charities, airns and objectives. The Trustees do not wish lo adopt an 8xcIu5ionary policy. bul individual investment5 may be excluded if per1ved to Conflict with the Charity's PUTPOSéS. Together with other Charities, Th8 Trustè85 took advantage of 8n opportunity in 2018 to swlteh funds lo largeled elhieal Investment funds at a signlficantly lower prtce. The Trustees idenlfy and manage risk$ lo ensure that.. significant risks ara known and monitorad, anabling Twstats lo makè infom)ed decisions and take timely action the charity makes the rnost of opportunities and develops them with the confidence that any iisks will be managed . fOard and strategic planning ar8 Improv8d . the charitys aims are achieved mor8 succasslully. The Trustees rewewed the Business Plan In 2023 with annual strategic obieclves for thè noxt fve years. The Objective$ are.. 1. Provide high quality homes lo our beneficiaries with strong return on investment and weekly maintenance contributions (WMCI which are reasonable bul relative lo rents charged within our areas of operation. 2. Enhance our uniqu8 eultur$ provldèd to our residents through the Services, support, and advlcè wé prowde. Ensuring that, through our activities and relationships with residents, local groups. and organisations, we maximise the opportunities to foster a sense ol community. 3. Contdbute lo the sustainable development through the design and standards of our properties, and the choi$ we rnake in maintaining and improving them lo high standards for the comfort, Safety, and benefit of our re5id*nls and for thè wèll-bèing ol thè comrnunily as a wholè. 4. Continue lo demonstrate high standards ol governance and business effectiveness through scrutiny and due diligence by the Board ol Truslees and Staff. to ensure continued financial viability. and continue to invest in developing high standards of slaff performance. The main risks indude the quality of our govemance, the services we deliver. future planning, and our reputation with stakeholders. The Trustees have regularsy reviewed the major risks to which the Charity 15 èxposed and are satisfied that systems are in place lo mi119ate their exposure. The Charitys future financial position could be adversety affected if there 15 a long.lerm recession due to the increased c051 of living. Thi5 could irnpacl the Charills income from ils inve51m8nls 8s well the beneficiaries. ability lo make conlribulions. The Trustees have a dedicated Finance & Audit Comrniltee who over588 and r8POrt to thè maln Board of Trustee8, the Ch8rlVs financlal position, financial controls and the inlernal audit process. Land & Builthngs L8nd and buildings are shown al cost in the Charity's accounts at their original cost ol £178,191. The buildings We valued for insurance purposes at £13.202,578 as 0125 December 2024. The Trustees acknowledge that the market value of the almshouses 15 in excess of their book valu8, but. having taken advi from a Ch8rtered Surveyor, and as the properties are held lor carrwng out Ihe charitable purposes of the Charity, do not consider that 8 formal valualion would be justified. Page 7
The Eventide Homes Trustees, Report stNcture. Governance & Management The Homes are cuNenity administered by ex-officio and up to iwelve co-opted Trustees, the latter each serving for a term of fOr years. apart frorn the Chaimian and Vice-chaimian who are elected &a¢h year. Th8 duty ol tho Trustees is lo manage the funds of the Trust and lo deploy the incomo against the costs of iepairs, insuran¢g, rnainlenance and management ol the Homes. Trustees arA in a voluntary capacity and r8caiva no rèmuneration for their work. They may appty for rè-8lection at tha end of each four-year term. Trustees act in a voluntary e8p8¢ily and iectrivg no femuneralion for their work. They Tnay apply for re-election at the end ol each four-year term. If a Trustee has served for more than nine years. Iheir reappointment is subject to a particularly rigorous review which considers the need for progressive refreshing of the board. In 2024, the Charity had five Trustees, who would have served more than ine years. They all p05se5s unique expertise or knowledge crucial to the Charitys operations and Iheir continued presenc8 at this thmo has bean daem èssèntial. During the year we reviewed syslerns and procedures to ensure compliance with the Almshouse Associations 'Standards of Almshouse Managemenl, and Ihe chosen code of practi., the Charity Govèrnancè Code for $rn8ll&r Charities. In 2024. all Trustees undertook Iraining. refreshing their knowledge of the Charity Commission's core guidance. as well as attending 8 speaalisl Continuing Professional Oeveloprnenl ICPDI accredited 1-day trainlng course. dèlivered by th8 Almshouse Association, to better enable the Trustees 10 8dopt bost practic8. When a vacancy oc£urs lor a Trustee, consideration is given to the skills required on the Board al Ihe lime and direcl corTrtad 15 fflad8 lo rsOn5 Wlth those Skills. Experience in a relev3nl field. for example, care and svpport ol the elderty, health eare, local oovornmant, housing. property management or finance. is required, and previous connection ¥Mlh the Charity in another capacity is also deemed lo be of value in some cases. The Trustees lake care to ensure that, as a group, their skills and experience cover all the main operations of the Charity. A rneeling is arranged with the prospective Twstee to advise them of the required commitment. explain the Charills objectives and assess Iheir inleresl. A guided tour ol the various propertie5 IS undertaken. a history and background of th8 Charity is given, a copy of the m051 recent attounts ale prowded. and they are invtsled lo attend a quartedy meeting as an observer. New Trustees are inducted by the existing land in some cases outgoing) Trustees, Staff and any external advisors who may be relevant lo the appoinlmenl. In order lo ensure that cornpliance with relevant legislation 8nd regvlalion3 is achieved and be51 prac*ice 18 followed, the Charity lake external legal and olhgr advice as appropiiale on particular issues. A Govemance Policy assists Trustees ui their deslo making and oversa&s three se0mmItteeS whith have suStable terrn5 01 reference and mernbership. The Rejidenls. Weare Cornmittee is chalred by Mr5. 0 Manlock. The overall purpose of this Committee is to assrsl the Board In ils duty to oversee any siqnificant Issues oi risks ConmIng individual residents, health and well-being which may impael upon their ability to live independently as well as acting as Ihe Interview Advisory Panel. 11 also assists Ihe Board by focusing on our activities and relationships with residents, local groups and organisalions lo foster a sense of community and enhancing the unwue culture. . Thè Property M8inlen8nce Cornmittee is chaired by Mr. K J Mantock. The overall puTpose of this Committea Is to assist the Boaid ill ils duty 10 rn8intsin the property 8nd ground3. It focuses on th& upkeep and fabric ol the buildings and grounds of au th¢ Charities assets, Heallh and Safety matters and the development ol new capital projects. Page 8
The Eventide Homes Trustees, Report The Finan and Audit Committee is chaired by Mr. D W Roots. The overall purpose of this Committee is to assist the Board in its duly lo maintain 115 finances. 11 locuse5 on major areas of change, innovation and development whith may impact upon the Gharitys finances. Governlng document The governlng document is the Trust deed dated 5th May 1936 a5 amended on 8th Augu511975. 18th March 2004, 27th May 2004 and 16th May 2011. Statement ol compllance Thè charrty has complied with applicable laws and regulats'ons. Page 9
The Eventide Homes Trustees, Report ststèment of Trust•8s' R•sponslbllltlès Th6 trustèas are rèsponsible for preparing th8 truslaès, rèport and th8 financial siatem&nts in accordance with the United Kingdom AcCoun'ng Standards (United Kingdom Generally Accepled Accounting Practice) and applicable law and regulations. Thg law applicabl8 lo ¢haiilies reqijirtrs tho trusteès lo prep8r8 finanri81 $tatèmants for ga¢h finan1>81 year which give a true and lalr view of the slate of affairs of Ihe charty and ot Ihe incoming resour$ and application ol resources of the charity for that period. In preparing these financAal slalements. the trustees are required lo.. select suitable accounting policies and then apply them consistently.. observe the rnelhods and principles in the Charities SORP., mak& judg8m8nts and èstimalas that are reasonable and prudonl.. stste whether applicable accounting standards have been followed, subject lo any rnalerial dep3rtur85 di5dosed and explainéd in the fin8n¢ial statements.. 8nd prepare the financial statements on the going concern basis unless il is inappropriate lo presume that the charity will continue in business. Thè trustees ale responsible for keeping proper accounting records Ihal disdose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Charities Act 2011. the Charities IAccovnls and Reports) Regulations 2008, and Ihe piow5ions of the constitution. The Iruslee5 8re 8150 respon5ib18 tor safeguarding the assels of the charity and hence for taking reasonable steps for the prevention and detection ol fraud and other irregularitses. Approved by the Injstees of the charty on 2 May 2025 and signed on ils behalf by. MT. K J Mantock FRSA Trustee Mr. D W Roots Trustee Page 10
The Eventide Homes Independent Auditor's Report to the Members of The Eventide Homes Opinlon We have audited the financial slalemenls ol The Evenlide Homes lihe 'charity'l for the year ended 31 December 2024. which comprise the Slalernenl of Financial Activities. Balarice Shgel, Cash Flow Sta18menl. and Notès to the Financial Stalèm8nts, including 8 summary of slgnificant accounting polieies. The financial porting framework Ihal has been applied in their preparation is United Kingdom Accounting Standards, comprising Charilies SORP - FRS 102 'The Financial Reporting Standard applicable in the UK and Republic ol Ireland. and applicable law (United Kingdorn Generally Accepted Accounting Praclicel. In our opinion the financial statements.. give a true and fair Mew of the State ol the charily's affairs as al 31 December 2024 and ot ils incoming resources and application of resources, including its income and expenditure. for the year then ended., have been properfy prepared In accordance wilh Unlled Kingdom Genarally Accepted Accounting Practice,. and have bèen prparad In accordanc8 wfth thè rèquirèments of Ihè Charllls Aet 2011. Ba818 for oplnlon We conducted our audli in accordance with Intèmation81 Slandards on Audlting IUK) {ISAs IUIQI and applicable law. Our responsibilities under those standards are further described in the auditor responsibililies lor the audit of the financial statements section of our report. We are independent ol the charity in accordance with the ethical requirements Ihal are relevant lo our audit ol the financial stalernent5 in the UK. Including the FRC'5 Ethiral Standard, and we have luifilled our othèr 8thic81 respon51bilities in accordance with these requirements. We believe that the audit eviden we havo obtained is sufficient and appropriale to provide a basis for our opinion. Conclusions rel3ling to golng ¢onc?rn In auditing the financial staternÈn15, we have concluded Ihal the Iruslee3' use of thp 90ing concern basis tsf accounting in tha preparation ol tha financial statèménts is appropriate. Based on the work we have performed. we have not identified any material unceriainlie5 relating lo events or conditions th31. individually or collectively. may cast significant doubl on the Gh8riV5 ability lo continue as a going eoncern for a period of al least twelve months from when tha orfglnal finanaal slalemenis wèrè authorised for issua. Our re5ponsibililia$ and the rèsponsibilities of Ih? Iwslees with respect lo going con¢ein are described In Ihè rèlevant sections of this rèport. Other Informatlon The tru51ee3 ale responsiblè for the other inforrnalion. The other information comprises the information included in the annual rgPQrt. other than the finanri318lalement5 and our 8uditorfs report thereon. Our opinlon on the financlal statemènts doÈs not covèr thè olhÈr Inlormatlon and. èxcèpt to the 8xlent otherwlse expliulty stated in our report. wè do nol exp$$ any form of assuran¢& conclusion Ihereon. Page 11
The Eventide Homes Independent Auditorfs Report to the Members of The Eventide Homes In connection with our audit of the financial slatements, our responsibility ig to read the other information and, in doing so, consider whether Ihe other information is materially inconsistent with the financial slalernenls or our knowledge obtained in the audit or otherwise appears lo be rnalerially fflISStat8d. If we identify such rnaterial incon515tenrAè5 or apparent material mi5stslefflen15. wè are required to d6temiine whether thère is a material misstatement in th& financial statements or a material misstatement ol the other infomation. If, based on the work we have performed, we conclude that there is a material misstatement ol this other inforrnalion. we are req¢Jired to report that fact. We have nothlng lo report In this r•gard. Mattors on whSch we are roquSred to report by exceptlon In the light of our knowledge and understanding of the charity and its nrOnment obtained in the course of the audit, we have not identified Material rnisstatements in Ihe Trustees. Report. Wè have nothing to report in respect ol the following matters wherè th8 Charities Act 2011 rèquiras us to report to you If. In our opinion.. 8dequalg 8cwunling records have rJol been kept, or relum8 adequate for our audit have nol been rè(*lvèd from branch•s not visited by us,. 01 the financial statements are not in agreement with the accounting Tecords and returns,. or eèrtain disclosuras of trust8ès' wmunaiatlon spècifièd by law are not made.. or we have not received all the information and explanations we qUIre lor our audit. Responslblllties of trustees As explained more fully in the Slalemenl of Trustees. Responsibilities Isel out on page 101, the Iruslees are responsible for the PparatIon of the financial statements and for being sa115fted that they give a true and fair view, and for such inlarnal control as the trustees det8rmin& 15 necessary lo enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. In pr8paring the finanelal slalernÈnts. the Irusle85 8re responsible for a55essing the ¢h3rity's abillty to continue as a going concèrn, disclosing. as applicable, matters related lo going concèm and using the going concem basis of accounting unless the trustees either intend to liquidate the tharity or to cease operations. 01 have no realistic allernalive bul lo do so. Auditor Re¥pon¥ibilities for the awdlt of the financial Ststements Our objectives are lo obtain reasonable assurance about whether Ihe financial statements as a whole are free from malerial misstatement, whbther due lo fraud or error, gnd to Issue an 8udilo¢s report that indudes our opinion. Reasonable assurance is a high level of assurance, bul Is not a guarantee that an audit conducted in accordance with ISAS (UK) will afvlays detect a material misstatement when il exists. Misslalernenls can arise from fraud oi error and are conSided material if, individualty or in th8 aggreg818. they could reasonably bg expé¢ted lo intlu8nce the economic de¢ision5 of user3 takén on thè basis of these financi31 slalemenls. Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilits, outlined above. to delect rnaterial misslatements in respect of i¥regularilies, including fraud. The extent lo which our procedures are capable of delecling irularities, including travd is dètailèd below.. Page 12
The Eventide Homes Independent Auditor's Report to the Members of The Eventide Homes As part of our audit planning we obtained an undeTStanding of the legal and regulatory framework that is applicable to the Charity. We gained an understanding of the Charity and the sector in which the Charity operates as part of this assessment lo identify the key laws and regulations affecting the Charity. As part of this, we reviewed the Charity's website for an indication of any regulations in place and discussed these with the relevant individuals responsible for compliance. The key Tegulalions we identified were Charity legislation, health and safety regulations and breaches of The General Data Protection Regulation l GDPR'I. We also considered those laws and regulations that have a direct impact on the preparation of the financial statements such as the Charities Act 2011 and Charities SORP- FRS 102. We discussed with management and trustees how the compliance with these laws and regulations is monitored and discussed policies and procedures in place. We also Identified the individuals who have responsibility for ensuring that the Charity complies with laws and regulation5 and deals with reporting any issues if they arise. As part of our planning procedures, we assessed the risk of any non-compliance with laws and regulations on the Charity's ability to continue trading and the risk of material misstslement to the accounts. Based on this understanding we designed our audit procedures to identify non4ompliance with such laws and regulations. Our procedures involved the following.. Enquiries of management and trustees warding their knowledge of any non-compli8nce with laws and regulations that could affect the financial statements. As part of these enquirie5 we also discussed with management whether there have been any known instsnces, allegations or suspicions of fraud. Reviewed filings with the Charity Commission and whether there were any serious incident reports made during the year. Discussed with management if any health and safety incidents have been recorded during the year. Review of the GDPR policy and enquiries to management as to the occurrence of any reportable breaches. Reviewed legal and professional costs to identify any possible non-¢omplian¢e or legal costs in respect of non-compliance. Reviewed Board minutes. We assessed the Susceptibility of the financial statements to material misstatement via two significant risks. The first was management override Ifraud risk referring lo the ability of Management andlor those charged with governance lo manipulate the accounting records and prepare fraudulent financial slalements by overriding controls). Secondly, we evaluated management's incentives and opportunities for fraudulent manipulation of the financial statements. We obtained an understanding of the controls in place lo mitigate the risk of fraud. Based upon our understanding we designed and conducted audit procedures including.. Auditing the risk of management override of controls, including through le5ting journal entries and other adjustments for appropriateness, and evaluating the business rationale of significant transactions outside the normal course of business. Reviewing estimates and judgements made in the accounts for any indication of bias. Agreeing weekly maintenance charges Irenl receivable) via proof in total and substantive lesling. Page 13
The Eventide Homes Independent Auditor's Report to the Members of The Eventide Homes Because of the inherent limitations of an audit. there is a risk that we will not detect all irregularities. including those leading lo a material misslalemenl in the financial statements. The risk of not detecting a material misstalemenl due to fraud is higher than the risk of not detecting one resulting from error, as fraud may involve deliberate omissions, collusion, forgery, misrepresenlalions. or the override of inlemal controls. We are also less likely to become aware of instances of non-compliance with laws and regulations that are not closely related to events and transactions reflected in the financial ststemenls. A further description of our responsibilities is available on the Financial Reporting Council's website at.. .frC.0rg.ukladIt0rsreSpOnSlbI1$1les. This description fomis part of our auditor's report. Use ofour report This report is made solely lo the charity trustees, as a body. in accordance with section 144 of the Charities Act 2011 and regulations made under section 154 of that Act. Our audit work has been undertaken so that we might slate lo the trustees those matters we are required to stale to trustees in an auditors, report and for no other purpose. To the fullest extent pennitted by law, we do not accept or assume responsibility lo anyone other than the charity and its trustees as a body, for our audit work, for this report, or for the opinions we have formed. Adrian Way FCA FCCA Isenior Slatulory Auditor) PKF Francis Clark, Statutory Auditor Towngate House 2-8 Parkstone Road Poole Dorset BH15 2PW Date.. ISM PKF Francis Clark is eligible to act as an auditor in terms of section 1212 of the Companies Ael 2006. Page 14
The Eventide Homes statement of Financial Activities Year Ended 31 December 2024 (Including Income and Expenditure Account) Totsl 2024 Unreatrlcted Restrlct•d Noto Incornè and Endowm•nts from: Oonallons and legacles Charitable activities Investment income 5,958 444,377 73,983 5,958 444,377 88,280 12,297 Total Incomè 524,318 12,297 536,615 Expondlture on: Charitable activities 350,270 12,29 362,867 Total Exp8ndilur8 Gainsllosses on investment assets 350.270 119,986 12.297 10,488 362.567 130,474 Nel rnovemenl in funds 294,034 10.488 304,522 R•eonelllatlon of funds Total funds brought forward Total funds rarried forward 4,417.239 401,364 4,818.603 18 4,711.273 411,852 5,123,125 The notes on pages 19 to 31 lomi an inlegral part of thesè finanual $latement8. Page 15
The Eventide Homes statement of Financial Activities Year Ended 31 Dember 2023 (Including Income and Expenditure Account) Total 2023 Unrestrfetsd R•strleted Note Ineom6 and Endowments from: Donatlons and legacies Charitable acliviti95 Investment incomè 3,336 414,238 73,735 3,336 414,238 87,212 13,477 Total Income 491,309 13,477 504.786 Expondltur• on.. Chari18bl9 8ctivilios 344,147 13.477 357,624 Tolal Expendilu Gainsnosses on inve8lmenl a&%¥ts 344.147 159,645 13.47 32.283 357,624 191,928 Net movement in funds 306,807 32.283 339,090 R•conciliailon of fund8 Total funds brought forward Total fvnds ThIed foFw8rd 4,110.432 369,081 4,479.513 18 4.477.239 401,364 4,818,603 All of the charity's aclivilies derive from continuing operation8 during the above tsvo periods. The lunds breakdown for 2023 is shown in note 16. The notes ors page$ 19 to 31 fonn an integral p8rt of the financial ststemenls. Pag8 16
The Eventide Homes Balance Sheet 31 December 2024 2024 2023 Note Fixed assets Tangible assets Investments 1,494,325 3,536,908 1.349,624 3,221,307 4.570,931 12 5,031,233 Current assets Dobtors Cash al bank and in hand 13 38,268 83,193 35.279 245,462 119,459 280,741 Cr•ditOTS- Amounts falling due withln one year Net current assets 14 27.567 33,089 91,892 247.672 Nèt assèts 5.123,125 4.818.603 Funds of the charlty: Restrietad income funds Reslricled funds 411.852 401.364 Unrestrlcted Incom8 funds Unrèstricted funds 4,711,273 4.417,239 Totsl funds 16 5.123,125 4,818,603 The financial statements on page5 15 to 31 were approved by the Iru5tees, and aulhorised for issue on 2 May 2025 and signed on their beha by.. Mr. K J Manlock FRSA Trustee Mr. D W Roots Trustee The notes on pages 19 to 31 fomi an integral part of these finanaal statements. Pag&17
The Eventide Homes Cash Flow Statement Year Ended 31 December 2024 2024 2023 Note Cash flows from oporatlng actlvltl•s Net cash income 304.522 339,090 Adjustments to cash flow$ from non•caBh ltsm Depreciation Investment inrK>me Unraalisèd Igainsl I lossas on invastmonls 50.622 188,2801 130,474 46,796 187.2121 191,928 138,390 106.746 Worklng capitsl •dlu¥tsnents Increase in debtors IDécr8a5elfincreasè in ciedltors Deere8se In defe¥red income 13 14 198n 15,0391 463 11,1741 7,7C 61 Nel cash flows from operating aclbwties Co$h flo from Inv•sting aetlvttias Interest receivable 8nd similar income Purchase of tangiblo fixed assets Purchase ol investrnenl5 131,901 113.217 86,280 1195,3231 185,127 87,212 1147,3431 24,0001 12 Net cash flows from investing activities Nel Idecreasellincrease in ca3h and cash equivalents Cash and cash aquivalents al 1 January 294,170 84.131 {162,2691 245,462 29,086 216,376 Cash and cash equivalents al 31 0ec8mbtrr 83,193 245.462 AJI ol the cash flows are derived from continuing Operatn6 during the above periods. Th8 not85 on PBge5 19 to 31 form an integral part of these finanrAal statements. Page 18
The Eventide Homes Notes to the Financial Statements Year Ended 31 December 2024 1 Accountlng poli¢les lal G•n8ral Information and ba$lg of preparation The Eventide Homes is a ChaTilable TTUSI registered in England and Wales. Thè addfess of the registered office is given in the charity inforrn81ion on page 1 of th858 finanal 5tat8manls. Thè nature of the charills operation5 and principal actsvities are lo provide almshouse accommodation to individuals ovor 60 who ar& ln need of11. The charity conslilules a public benefit enlily 85 defined by FRS 102. The financial statements have been prepared in accordance with Accounting and Reportlng by Charities.. Statement ol Recorntnended Practice applicable lo charities preparing Iheir accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021. the Financial R8POrting Standard applicable in the United Kingdom and Republic of Ireland IFRS 1021. the Charities Act 2011. and UK G8nerally Arxepled Ac¢ounling Practice. Thè financAal statements are prepared on a going concern basis and under the historic81 ¢x)sl eonvenlion, modified lo include certain items al fair value. The financial slalèments are prepared in slerting which 13 Ihe fijnth.onal eurrancy of th¢ eharÈty and roundad to iha n6aTest £. The significant accounting poliries applied in the preparation of these finanrial 5t8tements are sèt out below. These polirie5 havè baèn consi$19nlly applied to all yèars pras&nted unless otherwise slaled. Ibl Ineomo r•cognltlon All incoming resources are included in Ihe Statement of Financial Activthes ISOFAI when the charity 15 legally eniilled lo the incom8 after any perforrnance conditions have been met, the amount can bo measured reliably and it is probable that the income will be received. For donations lo be recognisgd the charity will h8ve been notified of thè amounts and the s6ttJeménl dale in wrrting. 11 thèrè are condlllons attachèd to the donation and this requires a level of perforrnance before èntitlement can be obtained then income is deferred until those condilions are fully mel or Ihe fulfilment of those conditions is within (h& control of the charity and it is probable thal they will be fulfilled. Donated fadlillès goods and services are recognised in income at their fair value when their economic benefit is probable, it can be measured reliably and the charity has control over the item. Fair value is d8tertninèd on Ihe basis of the value of the gift lo the charity. No amount is included in the financial stalemenls lor vDlvntoer time In line wth the SORP {FRS 1021. Flxad asset gifts in kind are recognised when receivable and are included 31 fair valuè. For legacies, enti11oment is the earlier of the charity being notified ol an impending distribution or the legacy being rèceived. At this point income is recognised. On occasion legacies will be nolified lo the charity however it is not possible to measure the amount expected to be distributed. On these occasions. the legacy is Ireated as a contingent asset and disclosed. Maintenance contribution income is recognised weekly on a receivable basis. Page 19
The Eventide Homes Notes to the Financial Statements Year Ended 31 December 2024 Investment incorne is eamed through holding assets for investment purposes such as shares and PfoP8ty. 11 indudes dividends and intere31. Where it is not practicable to identify investment managèment costs incurred within a scheme with reasonable accuracy the inveslmenl income is reported net of these costs. It is included whèn Ihè amount can b8 measurèd reliably. Interest incotne is recognised using the effective interest method and dividend and rent income is recognised ag the ehariws right lo receive payment is established. Icl Exp•ndTriurg ro¢0gnltlon All expenditure Is accounted lor on an accruals basls and has baan classifièd under h8ading5 that aggregate all costs lated to the calegory. Expenditu is recognised where theie is a legal or conslruclive obligation lo make payments to third parties. i( Is probable that the selllemenl will b& rgquirad and the arnourhl of the obligallon can be rneaSUfed reliably. Irrecoverable VAT IB chaiged as an expense against the activity forwhh expenditure arose. Idl Support eosts #llocatlon Support costs are those that assist the work of tha charity bul do not direclly represent ch8ritable activities and include office costs, governan costs, and administrative payroll costs. They are incurred directly in support of expenditure on the objects of the charily. Where support costs cannot b8 directly attribuled lo parts'cular h88dings they have been allocated lo cost of expenditure on charitable activities on a basis consistent with usè of thg resouieès. Fund-r8ising costs 818 thos¢ incurred In s8èk(ng voluntary contributions and do not indude the costs of disseminating Inlomation In support of thè ch8rit8blg gCti*itio$. The analysls of Ih¥s¢ costs is Includèd in notè 6. lel Tanglble flxed assets Tangible fixed assets are staled al cost {or deemed costl or valuation less accumulated deprociation
nd accumulated impairmenl los$e5. Cost indudes costs directly attr¢butable to making the asset
capablè of oporating as inlendod. Depreciation is provided on all tangible fixed assets, at rates caulated to write off the cost. less astirnated r88idual value. of ea¢h a¥set on a sy&lemalic basis over ils expected useful life as lollows. Land- not depreciated Maln fabrfc- 30 years Straight line Roofl èxt9rnal doors- 60 y8ars 5tr8ight line Windowsl ext8rnal doors- 30 y8ars straight lin¢ Kitchen 20 yeaTS straight linè Balhroomsl WCs- 30 years slraighl line Mechanical (healing elcl- 15120130 years slraighl line Eledrics- 10130 years 51raighl line lfj Invgslment propertres Investment property is carried al fair vdue, derived from the current markel prices for comparable real slate. Changes in tsir value are r8¢ognised in income or expendilure. Page 20
The Eventide Homes Notes to the Financial Statements Year Ended 31 December 2024 Igl Fixed Assèt Investments Inve5ttnents are recogni5ed inrtially al fair value which is noTmally the transaction price excluding transaction costs. Subsequently, they are measured al fair value with changes recognised in 'nel gains I Ilossesl on investments, in the SOFA if thè shar8s are publicly traded or their lair valua can otheise be rneasured reliably. Other investmenls are measured al c051 less impairment. Ihl Current Assèt Investments Gurrenl asset investments are short term highly liquid investments and are held al fair value. These indude cash on deposit and cash equivalents with a maturity of less Ihan one year. 111 Dobtors and cr•dltots r8e•ivabl• I poy4ble within one year Debtors and creditors with no slated interest rate and r8c8ivable or payable wiihin one year arè corded al transaction price. Any losses arising from impairrnenl are recognised in expenditure. Ul Cash at bank and In hand Cash al bank and cash in hand includes cash and Short term highly liquid deposits with a short maturity of three monlhs or lèss. Ikl Impairment Assets not measured 81 fair value are reviewed for any indication that Iha a8sel rn8y be impaired at each balance sheet date. If such indication exists, the recoverable amount of the asset. or the asset, cash generating unil, is estimated and Cofnpared lo the carrying amount. Where the carrying arnounl exceeds ils recoverable amount, an impairment loss is recognised in profil or loss unless the asset Is arried at a revalued amount where the impairment loss is a revaluation deuease. 111 Flnanclal In5trum•nts The Charity only has financlal assets and financial liabilities of a kind that qualify as basle financial instruments. Basic financial instruments are init1811y recognised al transaction value and subsequently measured at their settlement value. Im) Pmvision¥ Provisions are recognised when the charity has an obligation 81 the balance sheet dale as a result of a past event, it is probable that an oufflow of economic benefits will be required in sertlemenl and the amount can be reliably estimated. Inl Tax The charity is an exempl charity within the meaning of schedule 3 of the Charlties Act 2011 and is conSided lo pass the lests set out in Paragraph 1 Schedule 6 Finance Act 2010. lol Funds Unrestricted funds are available lor use al the discretion of the Irustees In furthèr8n¢è of ihe general objèctives of th6 charity and which have not been designated for other purposes. Designated lund5 comprise unrestricted funds Ihat have been sel aside by the Iruslees for particular purposes. The aim and use of each designated fund is set out in the notes lo the financial statements. Page 21
The Eventide Homes Notes to the Financial Statements Year Ended 31 December 2024 Reslricle(I funds are funds whith are lo be used in accoanCe with speufic rpslTiCtion$ impgsed by donors or which have been raised by the charily for particular purposes. The cost of raising and administering such funds are charged against the specific fund. The aim and use of each restricted fund 15 sel out in the note5 to the finaniyal slaternents. (pl significant Judgements and eBtlmates The original almshouses. with a historic cost of £178.191, are measured using the cost model and are not r8valu8d. The Irus198s judge that a valuation would require undue cost and effort relatwe lo the overall financial statemènts. Thère arè no significant accounting èstimatès. Iql P•nslons and othér poit Ntlr•m•nt obllgation8 Thè charity opgratès a d&finÈd contribution pension $¢heme whi¢h is 8 penslon plan undar whlch fixed contributions are paid into a pension fund and the charity has no legal Of constructive obligation to pay further contributions even il the fund does not hold sufficient assets lo pay all employees Ihe benefits relabng to employee service in the cwrent and prior periods. Contribullons to defin8d contfibulitsn plans arÈ recognised itt the Statement of Flnancial Activitie5 when they are due. If contribution payments exceed the contribution due for service, the excess is re(x)gnised as a prepayment. {r) Golng Concern The financial 8lalernenls have been prepared on a going ojncem basis. In the opinK)n of the bowd. thè charity has sufficiant working capttal to continue lo meel its financial obligations afid pay its liabilities as they fall due foT thè forèseeable futur8, thè budgeted incorne and expeniJiturè is sulficient with the level of reseNes held lor the char¢ty lo be able to continue as a golng concem and therefore the financial statements have been prepared on a going cL)ncern basis. 2 Incomp from donatlong and legacles Unr•strlct•d fundg Total 2024 Total 2023 Oonalions 5.958 5,958 5,958 5.958 3,336 3 Income from chatable activitie• Total 2024 Total 2023 Weekty rnainlenance contriblon$ 444,377 414,238 Page 22
The Eventide Homes Notes to the Financial Statements Year Ended 31 December 2024 4 Invèstment Incomè Unrestrlct•d funds Restricted fund# Total 2024 Total 2023 Interest receivable and similar incorne., Intere51 receivable on bank deposits Other investment income 4.368 69.615 4.368 81,912 6,792 80,420 87,212 12,297 12,297 73.983 86,280 5 Expenditure on charitable activltles Total 2024 Total 2023 Water rates Insurance Hkjrnan resource8 Repairs and maintenance General maintenance Cleaning Traval and subsistènca Entertainment Sundry Support ¢osts (Note 6} 14,332 12.693 50,931 89.252 9,988 11,080 1,415 3,310 763 188,803 362,567 13,933 13,051 43,786 91.366 8,149 12,440 1,062 8.344 2.458 165.035 357,624 Page 23
The Eventide Homes Notes to the Financial Statements Year Ended 31 December 2024 6 Analys18 of gov8Tnan¢g and support costs Support CO8ts allocated to charftabl• actlvltl48 Total 2023 Ttstal 2023 8asls of allocatlon Admin Staff 100% 100% loo% 100% 100% 1(K)% Human resources Governance (see below) Legal and professional Information léehnology Depreciation Officè costs Bank chargès 101.863 11.989 9,560 2,353 50,622 11,314 1,920 87,$7f 10.610 9,223 1,132 48,796 7.869 1,834 189,621 165,035 Gov•manc• costs Unre8trfct•d Total 2024 Total 2023 General Audit fees Audit of the financAal statements 11,989 11,989 11.989 10,610 11,989 10.fj10 7 Ngt incomingloutgoing rosourc•s Net incoming resources for the year include.. 2024 2023 Audilorfs rernuneration Depreciation (Gainllloss on investment assets 11.989 50,622 130.474 10,610 46.796 191,928 Page 24
The Eventide Homes Notes to the Financial Statements Year Ended 31 December 2024 8 Trustg0s' remuneratlon and gxpen¥es No Iruslees, nor any persorns conneded with Ihern. have reiVed any r8munÈration Irorn the charily during the year. No trustees have recelved any relmbursèd expenses or any other benefits from the charily duflng the year. 9 Stsff costs The aggregate payroll costs were as follows.. 2024 2023 Staff costs during the year were: Wages and salaries Social security costs Pènsion costs 136,715 9,554 5,707 151.976 117,977 7,515 5.865 131,357 The monlhly average number ol person5 linduding senior management I leadership team) employed by the charity during the year expressed as full timè aquN8lenls was 85 follows.. 2024 No 2023 No Average No. of employee5 {head countl Thè number ol omploy68s whos8 èmolurnenls fell within the following bands was.. 2024 N¢ 2023 No £70,001- £80.000 The lolal ernployee benefi15 of the key management personnal of the charity were £83,60912023 £78,755). 10 Taxatlon The charity Is a raglstarèd charfty and 15 therefore exempl from taxation. Page 25
The Eventide Homes Notes to the Financial Statements Year Ended 31 December 2024 11 T#ng4ble fixèd 41*•ts Buildings and major home Land Improvanènts Total Coot At 1 January 2024 Additions 1,935 1,821,666 1,823,801 195,323 195,323 At 31 December 2024 1.935 2.016.989 2.018,924 OBpr•ciatlon Al 1 January 2024 Charge for the year 473.977 50,622 473,977 50,622 At 31 Decembar 2024 524,599 524,599 Net book value Al 31 December 2024 1,935 1,492,390 1,494.325 Al 31 Decernbgr 2023 1,93S 1,347,689 1.349,624 12 Flx•d ass•t Inv•stm•nts 2024 2023 Investment properties Other investments 367,500 3.169.408 350.000 2.871,307 3.221.307 3.536,908 Page 26
The Eventide Homes Notes to the Financial Statements Year Ended 31 December 2024 Investment PTQP•rtIès Invèstmenl propertles Cost or Valuatlon Al 1 January 2024 Revaluation 350,000 17.500 At 31 December 2024 367,500 Provlslon At 31 Oecember 2024 Net book valuè At 31 Decernber 2024 367,500 At 31 December 2023 350,000 other Invegtfflents Llsted Investments Total Cost or Valuation Al 1 January 2024 Revaluation Additions 2,871.307 2,871,307 112.974 112,974 185,127 185,127 Al 31 Decernber 2024 3.169,408 3.169.408 Net book valu• Al 31 December 2024 3,169,408 3.169.408 Al 31 December 2023 2,871.307 2,871,307 13 Debtors 2024 2023 Trade debtors Piepayments Accrued income 3.463 13.937 18,866 36.266 3.260 13.566 18,453 35,279 Page 27
The Eventide Homes Notes to the Financial Statements Year Ended 31 Dernber 2024 14 Credltors: amounts falling du• wlthln one yèar 2024 2023 Other taKalion and social security Olh8r ciaditors Accruals Deferred income 3,206 2,794 20.066 1.501 2,872 3,649 24.584 1,964 27.567 33.069 15 Penslon and other 8¢hemes Dèflnèd eontrlbutlon penslon scheme The charity operal85 0 defined contribution pension scheme. The pen3ion ¢051 charge for the year represents conlributions payaNe by the charity to thè scheme and amounted to £5,707 {2023 £5,865). Contributions totalling £83512023 - £1,604) were payable to the stheme at the end of Ihe year and are induded in creditors. Page 28
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The Eventide Homes Notes to the Financial Statements Year Ended 31 December 2024 The Specific purposès forwhich the funds arè to be applied are as follows". Desigrnated funds The Capbtal Fund cons1Sts of fixed assets and non-reslricled fixed asset inveslm9nts. The Developrnenl Fund is set agide to hèlp finance longor term opportunities to further the Chantys aims. The Hall Improvement Fund is sel aside lo help finance the plans for our Assembly Hall. Restricted funds The W H Ridout Memorial Fund is a bequest. The share taken is lo be used by the Trustees 8xclusively lor or towards Ihe rnainlenance and provision of homes lor the Aged of Bournernoulh. 17 Analysls of net aty¥ets betweèn funds Total fund$ at31 Dècember 2024 Unrèstrlcted funds Genernl Designated Restrlcted funds Tangible fixed assèts Fixed asset investments Current assets 1,494,325 3,125.056 1,494.325 3.536.908 119,459 27.56 411.852 119,459 27,567 Total nel assets 91,892 4.619,381 411,852 5,123.125 Total funds at31 December 2023 Unrestricted fund5 General Designated Restricted fund¥ Tangible fixed assets Fixed asset investments Current assets 1,349,624 2,819,943 1,349,624 3,221,307 280.741 133,069 401,364 280,741 33,069 Total nel assèts 247,672 4,169,567 401.364 4,818,603 18 Related party tran53ction5 There were no related party Ir8ll58clions in the year. Page 31