## **THOMAS PARSONS CHARITY**
**Registered Charity number 202634**
**Report and Financial Statements for the year ended 30 June 2025**
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## **THOMAS PARSONS CHARITY**
## **Contents**
## **Year ended 30 June 2025**
**Page** Charity Particulars Governors’ Annual Report 3 to 4 Statement of Governors’ Responsibilities Auditor’s Report to Governors 6 to 7 Statement of Financial Activities Balance Sheet Notes to the Accounts 10 to 17
**THOMAS PARSONS CHARITY**
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## **Charity Particulars**
## **Year ended 30 June 2025**
|**Governors:**|The Lord Bishop of Ely|
|---|---|
||The Dean of Ely|
||The Archdeacon of Huntingdon & Wisbech|
||D J Brand – Chairman|
||Mrs A Broadhurst|
||R F Clasby – Vice Chairman|
||D Gipp (appointed 17 January 2025)|
||J Henry|
||Mrs S M Lindsay|
||A A D Morbey|
||R O Setchell – Treasurer|
||A Turpin|
|**Superintendent:**|J Moore|
|**Receivers:**|Messrs. Cheffins|
|**Clerk:**|Mrs R Hughes|
|**Correspondence Address:**|34 Ward Way|
||Witchford|
||Ely|
||Cambs|
||CB6 2JR|
|**Principal Bankers:**|Barclays Bank plc|
|**Auditors:**|Price Bailey LLP|
||Chartered Accountants and Statutory Auditors|
||Tennyson House|
||Cambridge Business Park|
||Cambridge|
||CB4 0WZ|
|**Charity number:**|202634|
**THOMAS PARSONS CHARITY**
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## **Governors’ Annual Report**
## **Year ended 30 June 2025**
The Governors present their report and audited accounts for the year ended 30 June 2025.
## **Charity Objects**
The Charity was originally established in 1497 and under a royal charter dated 6[th] January 1634. The objects of the charity are to apply the income as follows:
- § to the costs of all charges and outgoings payable in respect of the charity’s properties.
- § to the benefit of the almspeople of the charity or any of them in such manner as the Governors think fit.
- § for such charitable purposes for the general benefit of inhabitants of the former urban district of the City of Ely (comprising Ely and the villages of Queen Adelaide, Prickwillow, Stuntney and Chettisham) as the Governors think fit.
- § to the proper costs, charges and expenses of and incidental to the administration and management of the charity.
The Governors have considered the Charity Commission’s guidance on public benefit, and they consider that the charity is fulfilling its obligations in this respect by achieving the above objectives.
## **Charity Governance Code**
The seven principles that make up this code: organisational purpose, leadership, integrity, decision making risk and control, board effectiveness, diversity, openness and accountability, have all been considered by the Governors who were satisfied that the charity met these principles.
## **Organisation**
The charity rents out its investment assets comprising mainly of land to earn income for the furtherance of its objects. The residents in the almshouses at Chorister Court, Bamford House and Deacons Lane bungalows also make contributions, though, as the provision of such property is part of the objects of the charity, full market rent is not charged.
The Governors who served during the year are detailed on page 2. Including the Annual General Meeting, the Governors meet four times each year plus on frequent occasions in relation to sub-committees. All expenditure is fully approved before being undertaken.
## **Governor induction and training**
New Governors are selected from the local community, only if they have relevant experience and skills to enable them to make a contribution to the administration of the charity. They are interviewed and, if they are willing to be appointed, they are formally proposed and seconded for appointment at a Governors’ meeting. No formal training is given to new Governors but they are briefed thoroughly as to the charity’s activities.
## **Review of Progress and Achievement**
The charity has been able to successfully continue its running of the almshouses, and other charitable objectives. Governors’ meetings continued via zoom for the monthly finance committee meetings and face to face for the quarterly general meetings..
Following a review by the Governors in conjunction with advice sought from the charity’s lawyers during the year, it was established that the funds previously classified as Permanent Endowment were incorrectly classified as such and should have been shown as Unrestricted Funds. The financial statements have therefore been restated to include the £13,272,969 previously disclosed as Permanent Endowment at 30 June 2024 in Unrestricted Funds. This change has no impact on the overall net assets of the charity.
During the year the charity incurred a deficit on its unrestricted funds of £44,350 (2024 – surplus £739,204). Expenditure of £111,441 was incurred on major repairs to the Bamford House balconies and investment values decreased by £91,887 (2024 increase £608,477). Further expenditure of about £20,000 is expected to be incurred in 2025/26 on the Bamford House balconies to complete the repairs. The unrestricted funds’ balance at 30 June 2025 was £14,533,233, (2024 £14,577,583).
The charity made a further investment of £150,000 during the year of shares in the COIF Charities Investment Fund.
## **Reserves Policy**
Normal recurring expenditure can be met by the expected income of the charity, but the charity’s older almshouses are in constant need of repair, renovation and modernisation. The Governors consider that reserves of at least £500,000 are appropriate for such contingencies. At 30[th] June 2025 reserves were £14,533,233.
**THOMAS PARSONS CHARITY**
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## **Governors’ Annual Report - continued**
## **Year ended 30 June 2025**
## **Risk management**
The Governors have examined the principal areas of the charity’s operations and considered the major risks faced in each of these areas. In the opinion of the Governors, the charity has established the resources and review systems which, under normal circumstances, should allow these risks to be mitigated to an acceptable level in its day to day operations.
## **Key Risks**
The principal risks faced by the Charity are financial risks concerning the loss of income and unforeseen exceptional expenditure, claims for health and safety failures and major incidents, e.g. fire, resulting in almshouses becoming uninhabitable. Contingency plans are in place to temporarily rehouse residents.
## **Investment Policy**
The Governors intend that the real value of the charity’s assets should be maintained and enhanced over the long term by investment in a portfolio comprised of freehold and leasehold land, equities, fixed income stocks, deposits in recognised funds and cash, provided that they would not wish to consider the sale of any land without very good reason which might include exchanging land to improve holdings from the aspect of good estate management. In order to meet these objectives, the Governors have appointed Messrs Cheffins as their receivers and agents to manage a diversified portfolio of land on an advisory basis.
With regard to other investments, the Governors have selected a balanced investment objective with low or medium risk, and have so instructed CCLA Investment Management Ltd, who administers the COIF Investment and Deposit funds.
The proportion of assets invested in land, equities, fixed income stocks and deposits together with cash balances are kept under review.
## **Plans for the future**
The Governors have resolved to continue a programme of modernising its residential properties (almshouses and let properties) and at the same time improve their energy efficiency.
## **Fundraising**
The Charity understands its duty to protect the public, including vulnerable people, from unreasonably intrusive or persistent fundraising approaches, and undue pressure to donate but does not currently fundraise from the public or use any internal fundraisers or external fundraising agencies for either telephone or face to face campaigns and received no fundraising complaints during the year.
## **Statement of disclosure to auditors**
In so far as the Governors are aware
- § there is no relevant audit information of which the charity’s auditors are unaware, and
- § the Governors have taken all steps that they ought to have taken to make themselves aware of any relevant audit information and to establish that the charity’s auditors are aware of that information.
## **Auditors**
It will be proposed at the annual general meeting that Price Bailey LLP be re-appointed as auditors for 2025/26. Signed on behalf of the Governors:
D J Brand Chairman
Date: 9 January 2026
**THOMAS PARSONS CHARITY**
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## **Statement of Governors’ Responsibilities**
## **Year ended 30 June 2025**
## **Governors’ responsibilities for the financial statements**
Charity law requires the Governors to prepare financial statements for each financial year. Under that law the Governors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under charity law the Governors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources, including the income and expenditure, of the charity for that period. In preparing these financial statements, the Governors are required to:
- § select suitable accounting policies and then apply them consistently;
- § observe the methods and principles in the Charities SORP 2019 (FRS 102);
- § make judgements and estimates that are reasonable and prudent;
- § state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements
- § prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in operation.
The Governors 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 Charity (Accounts and Reports) Regulations 2008 and the provisions of the trust deed. They 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.
**THOMAS PARSONS CHARITY**
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## **Independent Auditor’s Report to the Governors of Thomas Parsons Charity**
## **Opinion**
We have audited the financial statements of The Thomas Parsons Charity (the ‘charity’) for the year ended 30 June 2025 which comprise the Statement of Financial Activities and Balance Sheet and notes to the financial statements, including significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 _The Financial Reporting Standard applicable in the UK and Republic of Ireland_ (United Kingdom Generally Accepted Accounting Practice). In our opinion the financial statements:
- give a true and fair view of the state of the charity’s affairs as at 30 June 2025, and of its incoming resources and application of resources, including its income and expenditure, for the year then ended;
- have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
- have been prepared in accordance with the requirements of the Charities Act 2011.
## **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 Governors’ 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 financial statements are authorised for issue.
Our responsibilities and the responsibilities of the Governors with respect to going concern are described in the relevant sections of this report.
## **Other information**
The other information comprises the information included in the Governors annual report, other than the financial statements and our auditor’s report thereon. The Governors are responsible for the other information. Our opinion on the financial statements does not cover the other information and we do not express any form of assurance conclusion thereon. 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 course of 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 this gives rise to a material misstatement in the financial statements themselves. 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**
We have nothing to report in respect of the following matters in relation to which the Charities (Accounts and Reports) Regulations 2008 require us to report to you if, in our opinion:
- the information given in the Governors’ Annual Report is inconsistent in any material respect with the financial statements ; or
- the charity has not kept adequate accounting records; or
- the financial statements are not in agreement with the accounting records; or
- we have not received all the information and explanations we require for our audit.
## **Responsibilities of Governors**
As explained more fully in the Governors’ responsibilities statement set out on page 5, the Governors 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 Governors 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 Governors 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 Governors either intend to liquidate the charity or to cease operations, or have no realistic alternative but to do so.
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## **THOMAS PARSONS CHARITY**
## **Independent Auditor’s Report to the Governors of Thomas Parsons Charity (continued)**
## **Auditor responsibilities for the audit of the financial statements**
We have been appointed as auditor under section 144 of the Charities Act 2011 and report in accordance with the Act and relevant regulations made or having effect thereunder.
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:_
_We gained an understanding of the legal and regulatory framework applicable to the Charity and the sector in which it operates and considered the risk of the Charity not complying with the applicable laws and regulations including fraud in particular those that could have a material impact on the financial statements. This included those regulations directly related to the financial statements, including financial reporting, and tax legislation. In relation to the operations of the Charity this included compliance with the Charities Act 2011 and SORP 2019._
_The risks were discussed with the audit team and we remained alert to any indications of non-compliance throughout the audit. We carried out specific procedures to address the risks identified. These included the following:_
_Reviewing minutes of Board meetings, reviewing any correspondence with the Charity Commission where applicable, agreeing the financial statement disclosures to underlying supporting documentation, and made enquiries of management and officers of the Charity. We have also reviewed the procedures in place for the reporting of any incidents to the Board of Governors including serious incident reporting of these matters as necessary with the Charity Commission._
_Management override: To address the risk of management override of controls, we carried out testing of journal entries and other adjustments for appropriateness. We reviewed systems and procedures to identify potential areas of management override risk._
_We also assessed management bias in relation to the accounting policies adopted and in determining significant accounting estimates._
_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 or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation._ - A further description of our responsibilities is available on the FRC's website at: https://www.frc.org.uk/auditors/audit assurance/auditor-s-responsibilities-for-the-audit-of-the-fi/description-of-the-auditor%E2%80%99s-responsibilities-for.This description forms part of our auditor’s report.
## **Use of our report**
This report is made solely to the charity’s Governors, 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 charity’s Governors those matters we are required to state to them in an auditor’s 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 the charity’s Governors as a body, for our audit work, for this report, or for the opinions we have formed.
Price Bailey LLP Chartered Accountants and statutory auditors Tennyson House Cambridge Business Park Cambridge CB4 0WZ Price Bailey LLP is eligible for appointment as auditor of the charity by virtue of its eligibility for appointment as auditor of a company under section 1212 of the Companies Act 2006.
29 January 2026
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## **THOMAS PARSONS CHARITY**
## **Statement of Financial Activities**
## **Year ended 30 June 2025**
|||**2025 Total**|**2024 Total**|
|---|---|---|---|
|||**Unrestricted**|**Unrestricted**|
|||**Funds**|**Funds**|
||||**(as restated)**|
||Note|||
|**Income from:**||||
|Investments|2|307,993|304,343|
|Charitable activities|3|141,854|126,383|
|**Total income**||**449,847**|**430,726**|
|**Expenditure on:**||||
|Raising funds|4|45,428|56,797|
|Charitable activities|5|356,882|243,202|
|**Total expenditure**||**402,310**|**299,999**|
|(Decrease) / increase in value of investments||(141,887)|218,477|
|Net surplus on revaluation of property||50,000|390,000|
|**Net income for the year**||||
|**being net movement in funds**||**(44,350)**|**739,204**|
|**Reconciliation of funds:**||||
|Total funds brought forward||14,577,583|13,838,379|
|**Total funds carried forward**||**14,533,233**|**14,577,583**|
All income and expenditure derive from continuing activities.
The statement of financial activities includes all gains and losses recognised during the year.
The notes on pages 10 to 17 form part of these accounts
**THOMAS PARSONS CHARITY**
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## **Balance Sheet**
## **At 30 June 2025**
||||**2025**|**2024**||
|---|---|---|---|---|---|
||Note|||**(as restated)**||
|**Fixed Assets**||||||
|Tangible Fixed Assets|7|2,173,701||2,211,518||
|Investments - property|8|9,315,000||9,265,000||
|Investments - shares|9|2,918,513|
**14,407,214**|2,910,400|**14,386,918**|
|**Current Assets**||||||
|Debtors|10|14,455||13,864||
|Cash at bank|11|235,188||229,751||
|||**249,643**||**243,615**||
|**Current Liabilities**||||||
|Creditors (amounts falling due||||||
|within 1 year)|12|123,624||52,950||
|**Net Current Assets**|||**126,019**||**190,665**|
|**Net Assets**|||**14,533,233**||**14,577,583**|
|**Funds of the Charity**|14|||||
|**Unrestricted funds**|||**14,533,233**||**14,577,583**|
The financial statements were approved by the Board of Governors on 9 January 2026 and signed on their behalf by:
D J Brand (Chairman)
R O Setchell (Treasurer)
The notes on pages 10 to 17 form part of these accounts
**THOMAS PARSONS CHARITY**
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## **Notes to the Accounts**
## **Year ended 30 June 2025**
## **1. Accounting Policies**
## **a. Basis of Accounting**
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) issued in October 2019, the Charities Act 2011, and UK Generally Accepted Practice as it applies from 1 January 2019.
The financial statements have been prepared to give a ‘true and fair’ view and have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a ‘true and fair view’. This departure has involved following Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) issued in October 2019 rather than the Accounting and Reporting by Charities: Statement of Recommended Practice effective from 1 April 2005 which has since been withdrawn.
The financial statements are prepared 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. 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**
All income is 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.
Income is the amount derived from the provision of services, rents and investment income falling within the charity’s principal activities, recognised on an accruals basis.
## **c. Expenditure**
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. It is categorised under the following headings:
- § Costs of raising funds includes support costs for the management of the investment portfolio, fund- raising and event organisation;
- § Expenditure on charitable activities includes grants made, governance costs and an apportionment of support costs.
Grants payable to third parties are within the charitable objectives. Where unconditional grants are offered, this is accrued as soon as the recipient is notified of the grant, as this gives rise to a reasonable expectation that the recipient will receive the grants. Where grants are conditional relating to performance, the grant is only accrued when any unfulfilled conditions are outside the control of the charity.
**THOMAS PARSONS CHARITY**
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## **Notes to the Accounts**
## **Year ended 30 June 2025**
## **1. Accounting Policies (continued)**
## **d. Tangible fixed assets**
No depreciation has been provided on the freehold investment properties. This treatment is deemed acceptable as the properties are held for investment purposes and are accordingly stated at open market value. The properties are professionally valued each year.
Buildings which are central to the objectives of the Charity have been included in the accounts at cost less depreciation at 2% on the straight line basis.
## **e. Investments**
Investments are a form of basic financial instrument and are initially recognised at their cost and subsequently measured at their fair value as at the balance sheet date using the closing quoted market price. The statement of financial activities includes the net gains and losses arising on revaluation and disposals throughout the year. The Charity does not acquire put options, derivatives or other complex financial instruments. The main form of financial risk faced by the charity is that of volatility in equity markets and investment markets due to wider economic conditions, the attitude of investors to investment risk, and changes in sentiment concerning equities.
## **f. Fund accounting**
General funds are unrestricted funds which are available for use at the discretion of the governors in furtherance of the general objectives of the charity and which have not been designated for other purposes.
## **g. Debtors**
Prepayments are valued at the amount prepaid net of any trade discounts due. Accrued income is included at the best estimate of the amounts receivable at the balance sheet date.
Other debtors are recognised at the settlement amount due.
## **h. Cash and cash equivalents**
Cash at bank includes cash held in current and deposit accounts.
## **i. Creditors**
Creditors are recognised where the charity has a present obligation resulting from a past even that will probably result in a payment to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors are normally recognised at their settlement amount.
## **j. 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 cost and subsequently measured at their settlement value. Fixed assets are recorded at market value and all other assets and liabilities are recorded at cost which is their fair value. Details of the cost of investments and unrealised gains are disclosed in note 8.
## k. **Operating leases. Lessor**
Rentals received under operating leases are charged to the Statement of Financial Activities on a straight line basis over the lease term.
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## **THOMAS PARSONS CHARITY**
## **Notes to the Accounts**
## **Year ended 30 June 2025**
||**2025**|**2024**|
|---|---|---|
|||**(as restated)**|
|**2. Income from Investments**|||
|Rental income|220,035|214,998|
|Dividends from COIF income units|82,018|75,020|
|Interest from cash deposits|5,940|4,325|
|Proceeds of grant of an option to purchase land|-|10,000|
||**307,993**|**304,343**|
|**3. Income from Charitable Activities**|||
|Contributions by almshouses’ residents|**141,854**|**126,383**|
|**4. Cost of Raising Funds**|||
|Investment management costs:|||
|Land expenses|2,615|-|
|Let property expenses|4,411|12,466|
|Allotment rent, maintenance, legal fees & water|(2,460)|2,750|
|Receiver’s fees and expenses|23,858|26,207|
|Insurance|17,004|15,374|
||**45,428**|**56,797**|
|**5. Charitable Activities**|||
|Almshouses – utilities and repairs|216,254|122,178|
|Grants (note 6)|||
|To institutions|39,456|28,109|
|To individuals|5,517|9,610|
|Support and governance costs:|||
|Salaries|28,961|28,062|
|Pension contributions|768|746|
|Professional fees|14,420|4,548|
|IT equipment, software & support|2,833|2,644|
|Auditor’s remuneration|8,100|6,000|
|Other expenses|2,756|3,488|
|Almshouses – depreciation of buildings|37,817|37,817|
||**356,882**|**243,202**|
During the year, no Governor received nor waived any remuneration, benefits or expenses (2024 £Nil). The average number of employees (all part time) was 2 (2024 2). No employees had emoluments in excess of £60,000 (2024 Nil).
The charity considers that there are no key management personnel other than the Governors themselves.
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## **THOMAS PARSONS CHARITY**
## **Notes to the Accounts**
## **Year ended 30 June 2025**
|**6. Grants**|**2025**|**2024**|
|---|---|---|
|Grants to institutions:|||
|Ely Museum Education Fund – to provide courses for local schools|7,000|6,500|
|Wheatsheaf Close – financial support for young people starting work|7,156|6,906|
|Re-Imagine – Local community food initiative|7,500|-|
|Friends of St Johns Community Primary School – outdoor equipment|12,000|-|
|Centre 33 – Young carers project|5,000|-|
|Viva Arts – BSL interpreter for theatre performance|500|-|
|Viva Arts – Theatre tickets sponsorship|300|-|
|Voluntary & community action for East Cambs – to support social car|||
|share scheme|-|5,000|
|Campaign amateur theatre – sponsorship for children performing|-|500|
|Wheatsheaf Close (young persons hostel) – dishwashers|-|1,674|
|Happy Days – towards disabled children’s theatre trip|-|1,179|
|Highfield Friends – Refurbishment & upgrade of sensory room|-|5,000|
|(school for pupils with special educational needs)|||
|Diversity Tennis / Ely Tennis Club – Equipment & coaching for|||
|disabled, disadvantaged and special needs persons|-|1,350|
||**39,456**|**28,109**|
|Grants to individuals:|**5,517**|**9,610**|
|Number of individuals to whom grants were made|**7**|**7**|
**7. Tangible Fixed Assets**
||**Land and**|
|---|---|
||**Buildings**|
|**Cost:**||
|At 1stJuly 2024|2,313,274|
|Expenditure during the year|-|
|**At 30th June 2025**|**2,313,274**|
|**Depreciation:**||
|At 1stJuly 2024|101,756|
|Charge for the year|37,817|
|**At 30th June 2025**|**139,573**|
|**Net Book Value:**||
|At 30thJune 2024|2,211,518|
|**At 30th June 2025**|**2,173,701**|
Tangible assets are those used for charitable purposes and are designated almshouses. They are subject to the constraints of the scheme for the charity with potential liabilities and they are carried at cost. Depreciation excludes the land value of the assets.
It is not possible to disclose historical costs of the older almhouses which are shown at nil value. Much of the property was acquired many years ago and by now will have been fully depreciated.
**THOMAS PARSONS CHARITY**
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## **Notes to the Accounts**
## **Year ended 30 June 2025**
## **8. Investments - property**
||**At Valuation**|
|---|---|
|**Current Year**||
|At 1 July 2024|9,265,000|
|Revaluation|50,000|
|At 30 June 2025|**9,315,000**|
|**Prior Year**||
|At 1 July 2023|8,875,000|
|Revaluation|390,000|
|At 30 June 2024|**9,265,000**|
The properties were professionally revalued at 30 June 2025 by Cheffins, an independent firm of Chartered Surveyors and Estate Agents.
It is not possible to disclose historical costs for the investment properties. Much of the property was acquired many years ago when formal accounting records were probably not required and are not available now, and costs by today’s standards would be miniscule. Some properties may have been obtained by gift or exchange.
## **9. Investments - shares**
|**9. Investments - shares**|||||
|---|---|---|---|---|
||||**Open**||
|||**Cost**
|**Market Valuation**||
||**2025**|**2024**|**2025**|**2024**|
|At 1 July 2024|1,863,958|1,413,958|2,910,400|2,241,923|
|Further investment|150,000|450,000|150,000|450,000|
|(Decrease) / Increase in market value|-|-|(141,887)|218,477|
|**At 30 June 2025**|**2,013,958**|**1,863,958**|**2,918,513**|**2,910,400**|
||||**2025**|**2024**|
|Investments at fair market value comprise:|||||
|COIF Charities Investment Fund income units|||2,918,513|2,910,400|
|**10. Debtors**|||||
|Prepayments and accrued income|||5,244|4,653|
|Rent in arrears|||9,211|9,211|
||||**14,455**|**13,864**|
**THOMAS PARSONS CHARITY**
- 15 -
## **Notes to the Accounts**
|**Year ended 30 June**|**2025**|||||
|---|---|---|---|---|---|
|||||**2025**|**2024**|
|**11. Cash at Bank**||||||
|Bank current account||||15,274|9,222|
|Deposit accounts||||219,914|220,529|
|||||**235,188**|**229,751**|
|**12. Creditors**||||||
|Rents received in advance (deferred income note 13)||||32,584|31,192|
|Other creditors & accruals||||91,040|21,758|
|||||**123,624**|**52,950**|
|**13. Deferred Income**||||||
|At 1 July 2024||||31,192|31,510|
|Amount released to Statement of Financial Activities||||(31,192)|(31,510)|
|Amounts deferred in year||||32,584|31,192|
|At 30 June 2025||||**32,584**|**31,192**|
|**14. Fund Reconciliation**||||||
||||||**Balance at**|
|**Current Year**|**Balance at**||||**30 June**|
||**1 July 2024**|**Income**|**Expenditure**|**Revaluation**|**2025**|
|**(as restated)**||||||
|Unrestricted Funds|14,577,583|449,847|(402,310)|(91,877)|14,533,233|
||**14,577,583**|**449,847**|**(402,310)**|**(91,887)**|**14,533,233**|
||||||**Balance at**|
|**Prior Year**|**Balance at**||||**30 June**|
||**1 July 2023**|**Income**|**Expenditure**|**Revaluation**|**2024**|
|**(as restated)**|||||**(as restated)**|
|Unrestricted Funds|13,838,379|430,726|(299,999)|608,477|14,577,583|
||**13,838,379**|**430,726**|**(299,999)**|**608,477**|**14,577,583**|
- 16 -
## **THOMAS PARSONS CHARITY**
## **Notes to the Accounts**
## **Year ended 30 June 2025**
## **15. Analysis of Net Assets between Funds**
||**Unrestricted**||
|---|---|---|
||**Funds**|**Total**|
|**2025**|||
|Tangible Fixed Assets|2,173,701|2,173,701|
|Investments|12,233,513|12,233,513|
|Debtors|14,455|14,455|
|Bank|235,188|235,188|
|Creditors|(123,624)|(123,624)|
|**Total Net Assets**|**14,533,233**|**14,533,233**|
||**Unrestricted**||
|**2024 (as restated)**|**Funds**|**Total**|
|Tangible Fixed Assets|2,211,518|2,211,518|
|Investments|12,175,400|12,175,400|
|Debtors|13,864|13,864|
|Bank|229,751|229,751|
|Creditors|(52,950)|(52,950)|
|**Total Net Assets**|**14,577,583**|**14,577,583**|
## **16. Operating Lease Commitments**
As at 30 June 2025 the charity had agreed commitments as a lessor under non-cancellable operating leases to receive receipts as follows:
||**2025**|**2024**|
|---|---|---|
|**Investment properties**|||
|Within 1 year|186,832|155,582|
|Between 1 and 5 years|328,480|347,170|
|In more than 5 years|221,480|68,670|
||**736,792**|**571,422**|
## **17. Related Parties**
During the year the charity rented property to King’s Ely for £39,520 (2024 - £39,520) and rented from the Church Commissioners allotment land for £750 (2024 - £750). The Very Reverend M Bonney, Dean of Ely, is a governor of King’s Ely and also a Church Commissioner.
During the year the charity paid fees of £23,858 (2024 - £26,207) to its Receivers, Messrs. Cheffins. Mr. D J Brand’s son in law is an employee of Cheffins.
Mrs. S Lindsay’s husband was a trustee of Ely Museum until 23 July 2024. The charity made a grant to Ely Museum of £7,000 (2024 - £6,500)
There were no further related party transactions.
**THOMAS PARSONS CHARITY**
- 17 -
## **Notes to the Accounts**
## **Year ended 30 June 2025**
## **18. Capital Commitment**
There were no capital commitments (2024 - £nil).
## **19. Off Balance Sheet Arrangement**
In the 2023 financial year, the charity signed a conditional contract to sell its land off Prickwillow Road, Ely. Under the terms of the contract, the Charity will allow the purchaser to apply for planning permission and to arrange a suitable access route for a period of 30 months from the date of the contract. Once satisfactory planning has been achieved and the terms of the contract have been met, the purchaser will acquire the land at a price of £1,250,000. It is however possible that the contract is never completed.
## **20. Prior Year Restatement**
Following a review by the Governors in conjunction with advice sought from the charity’s lawyers during the year, it was established that the funds previously classified as Permanent Endowment were incorrectly classified as such and should have been shown as Unrestricted Funds. The financial statements have therefore been restated to include the £13,272,969 previously disclosed as Permanent Endowment at 30 June 2024 in Unrestricted Funds. This change has no impact on the overall net assets of the charity.