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2025-12-31-accounts

The Eventide Homes

Annual Report and Financial Statements Year Ended 31 December 2025 Charity registration number: 202516

The Eventide Homes

Contents

Reference and Administrative Details 1 to 2
Trustees' Report 3 to 10
Statement of Trustees' Responsibilities 10
Independent Auditors' Report 11 to 14
Statement of Financial Activities 15 to 16
Balance Sheet 17
Cash Flow Statement 18
Notes to the Financial Statements 19 to 32

The Eventide Homes

Reference and Administrative Details

Trustees Mr. K J Mantock FRSA, Chair Mr. P R Freeman, Vice Chair Mr. D W Roots (Vice Chair until May 2025) Mrs C Barker Mrs. L Barker Mr K Beckingham Mr. R Hucklesby Mrs. D Mantock Mr J Redston

Ex-officio Trustees: The Mayor and Deputy Mayor of Bournemouth.

The ex-officio Trustees periods of service to the Charity co-incide with their terms of office as Mayor and Deputy Mayor respectively. The remaining Trustees served throughout the year, except where otherwise indicated.

Page 1

The Eventide Homes

Reference and Administrative Details

Principal Office Eventide Homes 57A Edgecombe Gardens 605 Castle Lane West Bournemouth Dorset BH8 9TW Charity Registration Number 202516 Bankers CAF Bank Ltd 25 Kings Hill Kings Hill West Malling Kent ME19 4JQ Investment Managers CCLA Investment Management Limited Senator House 85 Queen Victoria Street London EC4V 4ET M & G Charities P.O. Box 9038 Chelmsford CM99 2XF Auditor PKF Francis Clark Statutory Auditors Towngate House 2-8 Parkstone Road Poole Dorset BH15 2PW

Page 2

The Eventide Homes

Trustees' Report

The Trustees present the annual report together with the financial statements and auditor's report of the charity for the year ended 31 December 2025.

The financial statements have been prepared in accordance with the accounting policies set out in notes to the accounts and comply with the charity’s governing document, the Charities Act 2011 and Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (SORP (FRS102)).

Trustees of the charity

The Trustees who have served during the year and since the year end were as follows:

Mr. K J Mantock, Chair (Elected on the 02 May 2025) Mr. D W Roots, Vice-chair (Retired on 02 May 2025) Mr. P R Freeman (Elected on the 02 May 2025) Mrs. C Barker Mrs. L Barker Mr. K Beckingham Mr. R Hucklesby Mrs. D Mantock Mr. J. Redston

Objectives & Activities

The Eventide Homes comprises of seventy-five, individual dwellings in Castle Lane West, Bournemouth. These are provided for persons over the age of 60 who, through bereavement or other misfortune, are left without adequate means and are in need of assistance in the provision of a home.

The principal objectives of the Charity are to ensure that it continues to serve those in genuine need of almshouse accommodation, that the Homes are maintained to modern standards in order to provide an acceptable quality of life for the residents, and that the Charity is properly funded and administered.

In order to achieve the first of these objectives, the Trustees receive and consider applications from potential residents; decisions as to the eligibility of applicants are made on the basis of relevant law, the provisions of the Trust Deed and appropriate precedents.

The Trustees aim to enhance the quality of life of the residents by providing attractive grounds on the estate and a community hall for social and recreational use.

The Charity employ a team of staff who oversee the day-to-day administration, maintenance of the estate and support the residents’ ability to live independently, fostering a sense of community, collaborating with outsourced expertise and other stakeholders.

Public benefit statement

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 Charities Act 2011 regarding public benefit. They believe that since the Charity was founded in 1936, it has worked consistently to improve the quality of life of older people of limited means, who have always been a significant and vulnerable section of the 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 weekly maintenance contributions (‘contributions’), the latter are set at a level well below market rentals and the Charity uses all its other income to pay for the balance of annual expenditure. The Trustees compare contributions with market rentals at regular intervals to ensure that a consistent relationship between them is maintained and that the contributions paid result in material charitable benefits accruing to residents. The Trustees also consider that the Charity’s provision of 74 units of social ‘affordable’ housing in Bournemouth makes a modest contribution of accommodation to the community that would otherwise become the responsibility of the various local authorities.

The Trustees do not apply any geographical restrictions to potential beneficiaries and they ensure that, as a charity dedicated to the relief of poverty, Eventide Homes does not use genuine inability to pay contributions as a criterion for rejecting an applicant. However, where it appears that a person in possession of the necessary funds may wilfully fail to pay their contribution, based on their previous credit history, the application may be rejected on the grounds that any shortfall in income is likely to put the Charity at financial risk and may consequently be detrimental to the wellbeing of other residents.

Whilst the Charity can only provide almshouse accommodation to older people, the Trustees are committed to promoting equality and diversity within the Charity’s policies, practices and procedures and recognise its responsibilities under the Equality Act.

Research published by Bayes Business School in 2023 reveals that living in an almshouse can boost the longevity of its residents by as much as two-and-a-half years compared to their counterparts in the general population. In November 2021, research published by the Housing Learning and Improvement Network (LIN), revealed that almshouses provide a range of financial benefits to the health and social care economy as well as wider financial benefits, including:

It is estimated that living in an almshouse generates financial benefits to the social care and health economy of £1,340 per almshouse resident, per annum.

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The Eventide Homes

Trustees' Report

Strategic Report

Achievements, performance and future plans

In 2025, we managed to improve the roofing and insulation of one block of three homes.

The total amount spent during the year on maintenance was £88,926 (2024 - £69,252). Additional capital amounts of £67,873 (2024- £195,323) were expended on major home improvements, such as the roofing and other major works. The total outlay under all headings on property of £156,799 reflects the continuous emphasis on this activity (2024 - £264,575).

In 2025 the Weekly Maintenance Contributions that residents pay ranged from £97.50 to £155 per week, depending on the type of home. All contributions are inclusive of water and sewerage charges.

The Charity also continued its plans for the improvement of the Assembly Hall. In 2021, following research and a resident consultation, the Trustees concluded that whist the hall has been the focal point for the community for almost 90 years, over the years expectations of our residents have changed, and today the space is underused. We want to provide a flexible open meeting space, with a lowered ceiling and lighting that can be adjusted to meet the needs of any given day.

Planning Permission to improve the Hall was granted in late 2023. In 2024, the Trustees analysed the costs involved and carried out a fundraising feasibility study. The Trustees created a designated fund within its investment portfolio which would be exclusively used for this project. In 2025, applications were made to external grant funders and donors to fund the projected shortfall, ahead of the improvement works planned for 2026. The tendering process commenced in February 2026.

Residents are regularly consulted for their views regarding community engagement, as well as their well-being and quality of life. This helps shape a programme of events that the Resident Forum and staff facilitate throughout 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 fish & chip lunch, and a cheese & wine evening. We also held a Founders Day barbeque attended by residents, trustees, friends, the Deputy Mayor of Bournemouth, local Councillors and the local MP.

A Residents Survey was undertaken at the end of 2024 and published in 2025. 58% of residents responded this time, compared with 43% in 2022. 100% of those who completed the survey were either very or fairly satisfied with our service overall:

Your overall satisfaction. 100% Satisfaction with repairs. 100% Satisfaction with time taken to complete most recent repair. 100% Satisfaction that your home is well maintained. 98% Satisfaction that your home is safe. 98% Satisfaction that listens to your views and act upon them. 98% Satisfaction that we keep you informed about things that matter to you. 100% Agreement that we treat you fairly and with respect. 95% Satisfaction with our approach to handling complaints. 95% Satisfaction that we keep communal areas clean and well maintained. 98% Satisfaction that we make a positive contribution to the community. 100% Satisfaction with our approach to handling anti-social behaviour. 95%

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The Eventide Homes

Trustees' Report

The Residents’ Gardening Club had several communal planting days in 2025. The Charity actively encourage the Club, and it is well supported winning awards in the Bournemouth in Bloom horticultural competition. The Club also won a ‘Gardens and People’ award from the Almshouse Association, for its work in helping neighbours who were less able to tend to their own gardening areas, sharing a common passion and helping to help combat loneliness.

The Charity continues to interact with other Charities. The Charity is a Member of the Almshouse Association and the Charity’s Chief Executive Officer is a ‘Regional Peer Representative’, acting as a point of contact locally.

Policy on reserves

The Charity’s reserves at 31 December 2025, excluding restricted funds, totalled £4,966,795 (2024 - £4,711,273) as detailed in Note 16 to the accounts. Restricted funds totalled £397,463 (2024 - £411,852) as detailed in Note 16 of the accounts. Total reserves are £5,364,258 (2024 - £5,123,125).

The General Fund is a reserve to cover part of the normal annual outgoings of the charity. At balance date the Revenue Fund was £106,883 (2024 - £91,892). Designated Capital Funds consist of fixed assets and non-restricted fixed asset investments. At balance date this Fund was £3,767,164 (2024 - £3,777,457).

The Trustees are satisfied with the level of reserves, which are monitored and reviewed by the Trustees on a Quarterly basis.

Investment Management

The primary purpose of the investment portfolio is to provide a substantial income stream to the Charity that is independent of the income received from residents, thus enabling the Trustees to keep the Weekly Maintenance Contributions for accommodation well below market rents. The Trustees therefore believe that it is essential to retain the capital element of the investments indefinitely.

CCLA Investment Management Limited (‘CCLA’) has managed all the Charity’s restricted investments (the WH Ridout Fund) and the majority of its unrestricted investments since June 1998 in a single portfolio. The latter comprises of a holding in the Charities Official Investment Fund (COIF) Ethical Investment income shares, with the remainder being invested in the COIF Property Fund; the restricted investments are separately identified within the two COIF Funds.

The manager’s target is to achieve a a total return (growth in capital and income) over the long term (defined as five years) of UK CPI + 5% per annum. The comparator benchmark for the return on the main COIF Ethical Investment Fund is a composite of 75% MSCI World Index, 15% Markit iBoxx £ Gilts Index, 5% MSCI UK, Monthly Property Index, and 5% Sterling Overnight Index Average.

In addition to the various COIF investments managed by CCLA, the Charity also has holdings in the Charity Multi Asset fund, managed by M&G. It includes two other accumulating designated funds. One is a ‘Development Fund’ valued at £563,575 as at the 31 December 2025, to help finance longer term opportunities to further the Charity’s aims. The other is a ‘Hall Improvement Fund’, valued at £529,173, as at the 31 December 2025, to help finance the plans for our Assembly Hall. The Trustees started investing in this fund in 2022.

Page 6

The Eventide Homes

Trustees' Report

W H Ridout Memorial Fund

In accordance with the SORP requirements this fund is restricted. The terms of the bequest in the will of W H Ridout that ‘the share taken by the Trustees be used exclusively for or towards the maintenance and provision of homes for the aged of Bournemouth’ continues to be fulfilled. Any income received from these investments is offset against property maintenance expenditure in accordance with the terms of the bequest.

In 2017 the Charity diversified its portfolio, purchasing an adjacent property and renting the home on the Open Market. The Rent is used to support the aims and objectives of the Charity.

There are no other investments in the portfolio.

The Trustees are satisfied with the manager’s performance in 2025. They continue to monitor the performance of this Fund and to keep the position under regular review. Investment reports are received quarterly and a meeting with the manager to review investment performance and policy is held each year.

Ethical Investment Statement

We encourage and expect our Fund Managers to take social, environmental and ethical considerations into account when assessing the suitability of investments in order to meet the Charities’ aims and objectives. The Trustees do not wish to adopt an exclusionary policy, but individual investments may be excluded if perceived to conflict with the Charity's purposes. Together with other Charities, The Trustees took advantage of an opportunity in 2018 to switch funds to targeted ethical investment funds at a significantly lower price.

Risks

The Trustees identify and manage risks to ensure that:

• significant risks are known and monitored, enabling Trustees to make informed decisions and

• take timely action the charity makes the most of opportunities and develops them with the confidence that any

The Trustees reviewed the Business Plan in 2022 with annual strategic objectives for the next five years. The Objectives are:

  1. Provide high quality homes to our beneficiaries with strong return on investment and weekly maintenance contributions (WMC) which are reasonable but relative to rents charged within our areas of operation.

  2. Enhance our unique culture provided to our residents through the services, support, and advice we provide. Ensuring that, through our activities and relationships with residents, local groups, and organisations, we maximise the opportunities to foster a sense of community.

  3. Contribute to the sustainable development through the design and standards of our properties, and the choices we make in maintaining and improving them to high standards for the comfort, safety, and benefit of our residents and for the well-being of the community as a whole.

  4. Continue to demonstrate high standards of governance and business effectiveness through scrutiny and due diligence by the Board of Trustees and Staff, to ensure continued financial viability, and continue to invest in developing high standards of staff performance.

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The Eventide Homes

Trustees' Report

The main risks include the quality of our governance, the services we deliver, future planning, and our reputation with stakeholders. The Trustees have regularly reviewed the major risks to which the Charity is exposed and are satisfied that systems are in place to mitigate their exposure.

The Charity’s future financial position could be adversely affected if there is a long-term recession due to the increased cost of living. This could impact the Charity’s income from its investments as well the beneficiaries’ ability to make contributions. The Trustees have a dedicated Finance & Audit Committee who oversee and report to the main Board of Trustees, the Charity’s financial position, financial controls and the internal audit process.

Land & Buildings

Land and buildings are shown at cost in the Charity’s accounts at their original cost of £178,191. The buildings were valued for insurance purposes at £13,202,578 as of 25 December 2025. The Trustees acknowledge that the market value of the Almshouses is in excess of their book value, but, having taken advice from a Chartered Surveyor, and as the properties are held for carrying out the charitable purposes of the Charity, do not consider that a formal valuation would be justified.

Structure, Governance & Management

The Homes are currently administered by two ex-officio and up to twelve co-opted Trustees, the latter each serving for a term of four years, apart from the Chairman and Vice-chairman who are elected each year. The duty of the Trustees is to manage the funds of the Trust and to deploy the income against the costs of repairs, insurance, maintenance and management of the Homes. Trustees act in a voluntary capacity and receive no remuneration for their work. They may apply for re-election at the end of each four-year term.

Trustees act in a voluntary capacity and receive no remuneration for their work. They may apply for re-election at the end of each four-year term. If a Trustee has served for more than nine years, their reappointment is subject to a particularly rigorous review which considers the need for progressive refreshing of the board. In 2025, the Charity had four Trustees, who would have served more than nine years. They all possess unique expertise or knowledge crucial to the Charity's operations and their continued presence at this time has been deemed essential.

During the year we reviewed systems and procedures to ensure compliance with the Almshouse Associations ‘Standards of Almshouse Management’ and the chosen code of practice; the Charity Governance Code for smaller charities.

In 2024, all Trustees undertook training, refreshing their knowledge of the Charity Commission’s core guidance, as well as attending a specialist Continuing Professional Development (CPD) accredited 1-day training course, delivered by the Almshouse Association, to better enable the Trustees to adopt best practice.

When a vacancy occurs for a Trustee, consideration is given to the skills required on the Board at the time and direct contact is made to persons with those skills. Experience in a relevant field, for example, care and support of the elderly, health care, local government, housing, property management or finance, is required, and previous connection with the Charity in another capacity is also deemed to be of value in some cases. The Trustees take care to ensure that, as a group, their skills and experience cover all the main operations of the Charity.

A meeting is arranged with the prospective Trustee to advise them of the required commitment, explain the Charity’s objectives and assess their interest. A guided tour of the various properties is undertaken, a history and background of the Charity is given, a copy of the most recent accounts are provided, and they are invited to attend a quarterly meeting as an observer.

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The Eventide Homes

Trustees' Report

New Trustees are inducted by the existing (and in some cases outgoing) Trustees, Staff and any external advisors who may be relevant to the appointment. In order to ensure that compliance with relevant legislation and regulations is achieved and best practice is followed, the Charity takes external legal and other advice as appropriate on particular issues.

A Governance Policy assists Trustees in their decision making and oversees three sub-committees which have suitable terms of reference and membership.

• The Residents' Welfare Committee. The overall purpose of this Committee is to assist the Board in its duty to oversee any significant issues or risks concerning individual residents’ health and well-being which may impact upon their ability to live independently as well as acting as the Interview Advisory Panel. It also assists the Board by focusing on our activities and relationships with residents, local groups and organisations to foster a sense of community and enhancing the unique culture.

• The Property Maintenance Committee. The overall purpose of this Committee is to assist the Board in its duty to maintain the property and grounds. It focuses on the upkeep and fabric of the buildings and grounds of all the Charities assets, Health and Safety matters and the development of new capital projects.

• The Finance and Audit Committee. The overall purpose of this Committee is to assist the Board in its duty to maintain its finances. It focuses on major areas of change, innovation and development which may impact upon the Charity’s finances.

The Charity is currently progressing toward becoming a Charitable Incorporated Organisation (CIO). Transitioning to a CIO will provide the Charity with the benefits of incorporated status and a framework that supports good governance. This change will also allow the Charity to modernise the language and reflect current best practice. The Trustees believe that adopting CIO status will strengthen the Charity’s ability to deliver its objectives effectively and confidently in the years ahead.

Governing document

The governing document is the Trust deed dated 5th May 1936 as amended on 6th August 1975, 18th March 2004, 27th May 2004 and 16th May 2011.

Statement of compliance

The charity has complied with applicable laws and regulations.

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The Eventide Homes

Trustees' Report

Statement of Trustees' Responsibilities

The trustees are responsible for preparing the trustees' report and the financial statements in accordance with the United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice) and applicable law and regulations.

The law applicable to charities requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources of the charity for that period. In preparing these financial statements, the trustees are required to:

The trustees are responsible for keeping proper accounting records that disclose 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 (Accounts and Reports) Regulations 2008, and the provisions of the constitution. The trustees are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Approved by the trustees of the charity on 1 May 2026 and signed on its behalf by:

......................................... Mr. K J Mantock FRSA Trustee

......................................... Mr. P R Freeman Trustee

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The Eventide Homes

Independent Auditor's Report to the Members of The Eventide Homes

Opinion

We have audited the financial statements of The Eventide Homes (the 'charity') for the year ended 31 December 2025, which comprise the Statement of Financial Activities, Balance Sheet, Cash Flow Statement, and Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is United Kingdom Accounting Standards, comprising Charities SORP - FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and applicable law (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the auditor responsibilities for the audit of the financial statements section of our report. We are independent of the charity in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the trustees’ use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the Charity’s ability to continue as a going concern for a period of at least twelve months from when the original financial statements were authorised for issue.

Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report.

Other information

The trustees are responsible for the other information. The other information comprises the information included in the annual report, other than the financial statements and our auditor’s report thereon. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

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The Eventide Homes

Independent Auditor's Report to the Members of The Eventide Homes

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the financial statements or a material misstatement of the other information. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

We have nothing to report in this regard.

Matters on which we are required to report by exception

In the light of our knowledge and understanding of the charity and its environment obtained in the course of the audit, we have not identified material misstatements in the Trustees' Report.

We have nothing to report in respect of the following matters where the Charities Act 2011 requires us to report to you if, in our opinion:

Responsibilities of trustees

As explained more fully in the Statement of Trustees' Responsibilities (set out on page 10), the trustees are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the trustees are responsible for assessing the charity's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charity or to cease operations, or have no realistic alternative but to do so.

Auditor Responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

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The Eventide Homes

Independent Auditor's Report to the Members of The Eventide Homes

As part of our audit planning we obtained an understanding 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 to 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 regulations we identified were Charity legislation, health and safety regulations and breaches of The General Data Protection Regulation (“GDPR”). 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 regulations 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 misstatement to the accounts.

Based on this understanding we designed our audit procedures to identify non-compliance with such laws and regulations. Our procedures involved the following:

We assessed the susceptibility of the financial statements to material misstatement via two significant risks. The first was management override (fraud risk referring to the ability of management and/or those charged with governance to manipulate the accounting records and prepare fraudulent financial statements 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 to mitigate the risk of fraud. Based upon our understanding we designed and conducted audit procedures including:

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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 to a material misstatement in the financial statements. The risk of not detecting a material misstatement due to fraud is higher than the risk of not detecting one resulting from error, as fraud may involve deliberate omissions, collusion, forgery, misrepresentations, or the override of internal 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 statements.

A further description of our responsibilities is available on the Financial Reporting Council’s website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor’s report.

Use of our report

This report is made solely to the charity trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. Our audit work has been undertaken so that we might state to the trustees those matters we are required to state to trustees in an auditors' report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to 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 (Senior Statutory Auditor) PKF Francis Clark, Statutory Auditor

Towngate House 2-8 Parkstone Road Poole Dorset BH15 2PW

Date: 6 May 2026

PKF Francis Clark is eligble to act as an auditor in terms of section 1212 of the Companies Act 2006

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The Eventide Homes

Statement of Financial Activities

Year Ended 31 December 2025 (Including Income and Expenditure Account)

Note
Income and Endowments from:
Donations and legacies
2
Charitable activities
3
Investment income
4
Total Income
Expenditure on:
Charitable activities
5
Total Expenditure
Gains/losses on investment assets
Net movement in funds
Reconciliation of funds
Total funds brought forward
Total funds carried forward
16		 Unrestricted
£
10,848
460,116
72,112
543,076
(385,471)
(385,471)
97,917
255,522
4,711,273
4,966,795		 Restricted
£
5,000
-
12,628
17,628
(12,628)
(12,628)
(19,389)
(14,389)
411,852
397,463		 Total
2025
£
15,848
460,116
84,740
560,704
(398,099)
(398,099)
78,528
241,133
5,123,125
5,364,258

The notes on pages 19 to 32 form an integral part of these financial statements. Page 15

The Eventide Homes

Statement of Financial Activities

Year Ended 31 December 2024 (Including Income and Expenditure Account)

Note
Income and Endowments from:
Donations and legacies
2
Charitable activities
3
Investment income
4
Total Income
Expenditure on:
Charitable activities
5
Total Expenditure
Gains/losses on investment assets
Net movement in funds
Reconciliation of funds
Total funds brought forward
Total funds carried forward
16		 Unrestricted
£
5,958
444,377
73,983
524,318
(350,270)
(350,270)
119,986
294,034
4,417,239
4,711,273		 Restricted
£
-
-
12,297
12,297
(12,297)
(12,297)
10,488
10,488
401,364
411,852		 Total
2024
£
5,958
444,377
86,280
536,615
(362,567)
(362,567)
130,474
304,522
4,818,603
5,123,125

All of the charity's activities derive from continuing operations during the above two periods. The funds breakdown for 2024 is shown in note 16.

The notes on pages 19 to 32 form an integral part of these financial statements. Page 16

The Eventide Homes

Balance Sheet

31 December 2025

Note
Fixed assets
Tangible assets
11
Investments
12
Current assets
Debtors
13
Cash at bank and in hand
Creditors: Amounts falling due within one year
14
Net current assets
Net assets
Funds of the charity:
Restricted income funds
Restricted funds
Unrestricted income funds
Unrestricted funds
Total funds
16		 2025
£
1,510,388
3,741,986
5,252,374
43,609
107,635
151,244
(39,360)
111,884
5,364,258
397,463
4,966,795
5,364,258		 2024
£
1,494,325
3,536,908
5,031,233
36,266
83,193
119,459
(27,567)
91,892
5,123,125
411,852
4,711,273
5,123,125

The financial statements on pages 15 to 32 were approved by the trustees, and authorised for issue on 1 May 2026 and signed on their behalf by:

......................................... Mr. K J Mantock FRSA Trustee

......................................... Mr. P R Freeman Trustee

The notes on pages 19 to 32 form an integral part of these financial statements. Page 17

The Eventide Homes

Cash Flow Statement

Year Ended 31 December 2025

Note
Cash flows from operating activities
Net cash income
Adjustments to cash flows from non-cash items
Depreciation
Investment income
4
Unrealised (gains) / losses on investments
Working capital adjustments
Increase in debtors
13
Increase/(decrease) in creditors
14
Increase/(decrease) in deferred income
Net cash flows from operating activities
Cash flows from investing activities
Interest receivable and similar income
4
Purchase of tangible fixed assets
11
Purchase of investments
12
Net cash flows from investing activities
Net increase/(decrease) in cash and cash equivalents
Cash and cash equivalents at 1 January
Cash and cash equivalents at 31 December		 2025
£
241,133
51,810
(84,740)
(78,528)
129,675
(7,343)
11,771
22
134,125
84,740
(67,873)
(126,550)
(109,683)
24,442
83,193
107,635		 2024
£
304,522
50,622
(86,280)
(130,474)
138,390
(987)
(5,039)
(463)
131,901
86,280
(195,323)
(185,127)
(294,170)
(162,269)
245,462
83,193

All of the cash flows are derived from continuing operations during the above two periods.

The notes on pages 19 to 32 form an integral part of these financial statements. Page 18

The Eventide Homes

Notes to the Financial Statements

Year Ended 31 December 2025

1 Accounting policies

(a) General information and basis of preparation

The Eventide Homes is a Charitable Trust registered in England and Wales. The address of the registered office is given in the charity information on page 1 of these financial statements. The nature of the charity’s operations and principal activities are to provide almshouse accommodation to individuals over 60 who are in need of it.

The charity constitutes a public benefit entity as defined by FRS 102. The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102), the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102), the Charities Act 2011, and UK Generally Accepted Accounting Practice.

The financial statements are prepared on a going concern basis and under the historical cost convention, modified to include certain items at fair value. The financial statements are prepared in sterling which is the functional currency of the charity and rounded to the nearest £.

The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.

(b) Income recognition

All incoming resources are included in the Statement of Financial Activities (SoFA) when the charity is legally entitled to the income after any performance conditions have been met, the amount can be measured reliably and it is probable that the income will be received.

For donations to be recognised the charity will have been notified of the amounts and the settlement date in writing. If there are conditions attached to the donation and this requires a level of performance before entitlement can be obtained then income is deferred until those conditions are fully met or the fulfilment of those conditions is within the control of the charity and it is probable that they will be fulfilled.

Grants are recognised when the charity has an entitlement to the funds and any conditions linked to the grants have been met.

Donated facilities 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 determined on the basis of the value of the gift to the charity.

No amount is included in the financial statements for volunteer time in line with the SORP (FRS 102).

Fixed asset gifts in kind are recognised when receivable and are included at fair value.

Page 19

The Eventide Homes

Notes to the Financial Statements

Year Ended 31 December 2025

For legacies, entitlement is the earlier of the charity being notified of an impending distribution or the legacy being received. At this point income is recognised. On occasion legacies will be notified to the charity however it is not possible to measure the amount expected to be distributed. On these occasions, the legacy is treated as a contingent asset and disclosed.

Maintenance contribution income is recognised weekly on a receivable basis.

Investment income is earned through holding assets for investment purposes such as shares and property. It includes dividends and interest. Where it is not practicable to identify investment management costs incurred within a scheme with reasonable accuracy the investment income is reported net of these costs. It is included when the amount can be measured reliably. Interest income is recognised using the effective interest method and dividend and rent income is recognised as the charity’s right to receive payment is established.

(c) Expenditure recognition

All expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all costs related to the category. Expenditure is recognised where there is a legal or constructive obligation to make payments to third parties, it is probable that the settlement will be required and the amount of the obligation can be measured reliably.

Irrecoverable VAT is charged as an expense against the activity for which expenditure arose.

(d) Support costs allocation

Support costs are those that assist the work of the charity but do not directly represent charitable activities and include office costs, governance costs, and administrative payroll costs. They are incurred directly in support of expenditure on the objects of the charity. Where support costs cannot be directly attributed to particular headings they have been allocated to cost of expenditure on charitable activities on a basis consistent with use of the resources.

The analysis of these costs is included in note 6.

(e) Tangible fixed assets

Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended.

Depreciation is provided on all tangible fixed assets, at rates calculated to write off the cost, less estimated residual value, of each asset on a systematic basis over its expected useful life as follows:

Land - not depreciated Main fabric - 100 years straight line Roof/ external doors - 60 years straight line Windows/ external doors - 30 years straight line Kitchen - 20 years straight line Bathrooms/ WCs - 30 years straight line Mechanical (heating etc) - 15/20/30 years straight line Electrics - 10/30 years straight line

Page 20

The Eventide Homes

Notes to the Financial Statements

Year Ended 31 December 2025

(f) Investment properties

Investment property is carried at fair value, derived from the current market prices for comparable real estate. Changes in fair value are recognised in income or expenditure.

(g) Fixed Asset Investments

Investments are recognised initially at fair value which is normally the transaction price excluding transaction costs. Subsequently, they are measured at fair value with changes recognised in ‘net gains / (losses) on investments’ in the SoFA if the shares are publicly traded or their fair value can otherwise be measured reliably. Other investments are measured at cost less impairment.

(i) Debtors and creditors receivable / payable within one year

Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in expenditure.

(j) Cash at bank and in hand

Cash at bank and cash in hand includes cash and short term highly liquid deposits with a short maturity of three months or less.

(k) Impairment

Assets not measured at fair value are reviewed for any indication that the asset may be impaired at each balance sheet date. If such indication exists, the recoverable amount of the asset, or the asset’s cash generating unit, is estimated and compared to the carrying amount. Where the carrying amount exceeds its recoverable amount, an impairment loss is recognised in profit or loss unless the asset is carried at a revalued amount where the impairment loss is a revaluation decrease.

(l) Financial Instruments

The charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value.

(m) Provisions

Provisions are recognised when the charity has an obligation at the balance sheet date as a result of a past event, it is probable that an outflow of economic benefits will be required in settlement and the amount can be reliably estimated.

(n) Tax

The charity is an exempt charity within the meaning of schedule 3 of the Charities Act 2011 and is considered to pass the tests set out in Paragraph 1 Schedule 6 Finance Act 2010.

(o) Funds

Unrestricted funds are available for use at the discretion of the trustees in furtherance of the general objectives of the charity and which have not been designated for other purposes.

Designated funds comprise unrestricted funds that have been set aside by the trustees for particular purposes. The aim and use of each designated fund is set out in the notes to the financial statements.

Page 21

The Eventide Homes

Notes to the Financial Statements

Year Ended 31 December 2025

Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the charity 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 is set out in the notes to the financial statements.

(p) Significant judgements and estimates

The original almshouses, with a historic cost of £178,191, are measured using the cost model and are not revalued. The trustees judge that a valuation would require undue cost and effort relative to the overall financial statements. There are no significant accounting estimates.

(q) Pensions and other post retirement obligations

The charity operates a defined contribution pension scheme which is a pension plan under which fixed contributions are paid into a pension fund and the charity has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised in the Statement of Financial Activities when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

(r) Going concern

The financial statements have been prepared on a going concern basis. In the opinion of the board, the charity has sufficient working capital to continue to meet its financial obligations and pay its liabilities as they fall due for the foreseeable future, the budgeted income and expenditure is sufficient with the level of reserves held for the charity to be able to continue as a going concern and therefore the financial statements have been prepared on a going concern basis.

2 Income from donations and legacies

Donations
Grants		 Unrestricted
funds
£
10,848
-
10,848		 Restricted
funds
£
-
5,000
5,000		 Total
2025
£
10,848
5,000
15,848		 Total
2024
£
5,958
-
5,958

3 Income from charitable activities

Weekly maintenance contributions Total
2025
£
460,116		 Total
2024
£
444,377

Page 22

The Eventide Homes

Notes to the Financial Statements

Year Ended 31 December 2025

4 Investment income

Interest receivable and similar
income;
Interest receivable on bank
deposits
Other investment income		 Unrestricted
funds
£
255
71,857
72,112		 Restricted
funds
£
-
12,628
12,628		 Total
2025
£
255
84,485
84,740		 Total
2024
£
4,368
81,912
86,280

5 Expenditure on charitable activities

Water rates
Insurance
Human resources
Repairs and maintenance
General maintenance
Cleaning
Travel and subsistence
Entertainment
Sundry
Support costs (Note 6)		 Total
2025
£
20,066
12,708
44,417
88,926
11,275
11,263
1,451
1,748
2,842
203,403
398,099		 Total
2024
£
14,332
12,693
50,931
69,252
9,988
11,080
1,415
3,310
763
188,803
362,567

Page 23

The Eventide Homes

Notes to the Financial Statements

Year Ended 31 December 2025

6 Analysis of governance and support costs

Support costs allocated to charitable activities

Basis of
allocation
Human resources
Admin Staff
Governance (see below)
100%
Legal and professional
100%
Information technology
100%
Depreciation
100%
Office costs
100%
Bank charges
100%		 Total
2025
£
88,122
28,564
22,180
2,299
51,810
8,529
1,899
203,403		 Total
2024
£
101,045
11,989
9,560
2,353
50,622
11,314
1,920
188,803

Governance costs

Unrestricted

Audit fees
Audit of the financial statements
Legal fees
7
Net incoming/outgoing resources
Net incoming resources for the year include:
Auditor's remuneration
Depreciation
(Gain)/loss on investment assets		 General
£
14,226
14,338
28,564		 Total
2025
£
14,226
14,338
28,564
2025
£
14,226
51,810
(78,528)		 Total
2024
£
11,989
-
11,989
2024
£
11,989
50,622
(130,474)

Page 24

The Eventide Homes

Notes to the Financial Statements

Year Ended 31 December 2025

8 Trustees' remuneration and expenses

No trustees, nor any persons connected with them, have received any remuneration from the charity during the year.

No trustees have received any reimbursed expenses or any other benefits from the charity during the year.

9 Staff costs

The aggregate payroll costs were as follows:

Staff costs during the year were:
Wages and salaries
Social security costs
Pension costs		 2025
£
122,157
5,052
5,330
132,539		 2024
£
136,715
9,554
5,707
151,976

The monthly average number of persons (including senior management / leadership team) employed by the charity during the year expressed as full time equivalents was as follows:

Average No. of employees (head count) 2025
No
3		 2024
No
4

The number of employees whose emoluments fell within the following bands was:

£70,001 - £80,000 2025
No
1		 2024
No
1

The total employee benefits of the key management personnel of the charity were £89,341 (2024 - £83,609).

10 Taxation

The charity is a registered charity and is therefore exempt from taxation.

Page 25

The Eventide Homes

Notes to the Financial Statements

Year Ended 31 December 2025

11 Tangible fixed assets

Cost
At 1 January 2025
Additions
At 31 December 2025
Depreciation
At 1 January 2025
Charge for the year
At 31 December 2025
Net book value
At 31 December 2025
At 31 December 2024
12 Fixed asset investments
Investment properties
Other investments		 Land
£
Buildings
and major
home
improvements
£
1,935
2,016,989
-
67,873
1,935
2,084,862
-
524,599
-
51,810
-
576,409
1,935
1,508,453
1,935
1,492,390
2025
£
394,000
3,347,986
3,741,986		 Land
£
Buildings
and major
home
improvements
£
1,935
2,016,989
-
67,873
1,935
2,084,862
-
524,599
-
51,810
-
576,409
1,935
1,508,453
1,935
1,492,390
2025
£
394,000
3,347,986
3,741,986		 Land
£
Buildings
and major
home
improvements
£
1,935
2,016,989
-
67,873
1,935
2,084,862
-
524,599
-
51,810
-
576,409
1,935
1,508,453
1,935
1,492,390
2025
£
394,000
3,347,986
3,741,986		 Land
£
Buildings
and major
home
improvements
£
1,935
2,016,989
-
67,873
1,935
2,084,862
-
524,599
-
51,810
-
576,409
1,935
1,508,453
1,935
1,492,390
2025
£
394,000
3,347,986
3,741,986		 Total
£
2,018,924
67,873
2,086,797
524,599
51,810
576,409
1,510,388
1,494,325
2024
£
367,500
3,169,408
1,935 2,084,862
-
-		 524,599
51,810
- 576,409
1,935 1,508,453
1,935 1,492,390
2025
£
394,000
3,347,986
3,741,986
3,536,908

Page 26

The Eventide Homes

Notes to the Financial Statements

Year Ended 31 December 2025

Investment properties
Cost or Valuation
At 1 January 2025
Revaluation
At 31 December 2025
Provision
At 31 December 2025
Net book value
At 31 December 2025
At 31 December 2024
Other investments
Cost or Valuation
At 1 January 2025
Revaluation
Additions
At 31 December 2025
Net book value
At 31 December 2025
At 31 December 2024
13 Debtors
Trade debtors
Prepayments
Accrued income		 Listed
investments
£
3,169,408
52,028
126,550
3,347,986
3,347,986
3,169,408
2025
£
3,001
16,198
24,410
43,609		 Investment
properties
£
367,500
26,500
394,000
-
394,000
367,500
Total
£
3,169,408
52,028
126,550
3,347,986
3,347,986
3,169,408
2024
£
3,463
13,937
18,866
3,347,986
3,347,986
3,169,408
2025
£
3,001
16,198
24,410
43,609
36,266

Page 27

The Eventide Homes

Notes to the Financial Statements

Year Ended 31 December 2025

14 Creditors: amounts falling due within one year

14 Creditors: amounts falling due within one year
Other taxation and social security
Other creditors
Accruals
Deferred income		 2025
£
-
847
36,990
1,523
39,360		 2024
£
3,206
2,794
20,066
1,501
27,567

15 Pension and other schemes

Defined contribution pension scheme

The charity operates a defined contribution pension scheme. The pension cost charge for the year represents contributions payable by the charity to the scheme and amounted to £5,330 (2024 - £5,707).

Contributions totalling £847 (2024 - £835) were payable to the scheme at the end of the year and are included in creditors.

Page 28

The Eventide Homes

Notes to the Financial Statements

Year Ended 31 December 2025

16 Funds

Unrestricted funds
General
General
Designated - Capital
Capital Fund
Hall Improvement Fund
Development Fund
Total unrestricted funds
Restricted funds
W H Ridout Fund
Hall Improvement Fund
Total restricted funds
Total funds		 Balance at 1
January 2025
£
91,892
3,777,457
357,760
484,164
4,619,381
4,711,273
411,852
-
411,852
5,123,125		 Incoming
resources
£
543,076
-
-
-
-
543,076
12,628
5,000
17,628
560,704		 Resources
expended
£
(385,471)
-
-
-
-
(385,471)
(12,628)
-
(12,628)
(398,099)		 Transfers
£
(142,614)
40,064
102,550
-
142,614
-
-
-
-
-		 Other
recognised
gains/(losses)
£
-
(50,357)
68,863
79,411
97,917
97,917
(19,389)
-
(19,389)
78,528		 Balance at 31
December
2025
£
106,883
3,767,164
529,173
563,575
4,859,912
4,966,795
392,463
5,000
397,463
5,364,258

Page 29

The Eventide Homes

Notes to the Financial Statements

Year Ended 31 December 2025

Unrestricted funds
General
General
Designated
Capital Fund
Hall Improvement Fund
Development Fund
Total unrestricted funds
Restricted
W H Ridout Fund
Total funds		 Balance at 1
January 2024
£
247,672
3,470,088
251,261
448,218
4,169,567
4,417,239
401,364
4,818,603		 Incoming
resources
£
524,318
-
-
-
-
524,318
12,297
536,615		 Resources
expended
£
(350,270)
-
-
-
-
(350,270)
(12,297)
(362,567)		 Transfers
£
(329,828)
244,828
85,000
-
329,828
-
-
-		 Other
recognised
gains/(losses)
£
-
62,541
21,499
35,946
119,986
119,986
10,488
130,474		 Balance at 31
December
2024
£
91,892
3,777,457
357,760
484,164
4,619,381
4,711,273
411,852
5,123,125

Page 30

The Eventide Homes

Notes to the Financial Statements

Year Ended 31 December 2025

The specific purposes for which the funds are to be applied are as follows:

Designated funds

The Capital Fund consists of fixed assets and non-restricted fixed asset investments.

The Development Fund is set aside to help finance longer term opportunities to further the Charity’s aims.

The Hall Improvement Fund is set aside to help finance the plans for our Assembly Hall.

Restricted funds

The W H Ridout Memorial Fund is a bequest. The share taken is to be used by the Trustees exclusively for or towards the maintenance and provision of homes for the Aged of Bournemouth.

The Hall Improvement Fund relates to grants receivable in relation to the plans for our Assembly Hall.

17 Analysis of net assets between funds

Tangible fixed assets
Fixed asset investments
Current assets
Current liabilities
Total net assets		 Unrestricted funds
General
£
Designated
£
-
1,510,388
-
3,349,523
146,244
-
(39,360)
-
106,884
4,859,911		 Restricted
funds
£
-
392,463
5,000
-
397,463		 Total funds
at 31
December
2025
£
1,510,388
3,741,986
151,244
(39,360)
5,364,258
Tangible fixed assets
Fixed asset investments
Current assets
Current liabilities
Total net assets		 Unrestricted funds
General
£
Designated
£
-
1,494,325
-
3,125,056
119,459
-
(27,567)
-
91,892
4,619,381		 Restricted
funds
£
-
411,852
-
-
411,852		 Total funds
at 31
December
2024
£
1,494,325
3,536,908
119,459
(27,567)
5,123,125

Page 31

The Eventide Homes

Notes to the Financial Statements Year Ended 31 December 2025

18 Related party transactions

There were no related party transactions in the year.

Page 32