Registered Charity Number: 203458 SALTERS, COMPANY JAMES SMITH'S ALMSHOUSE CHARITY ACCOUNTS FOR THE YEAR ENDED 30 JUNE 2025
SALTKRS. COMPANY JAMES Smrrll's ALMSHOUSE CHARrrY CONTENrs P*%e Trustee 8nd advi50r5 Trustee Report Independent auditors, report Statement of financial activities Balance 3h¢¢t Noles to ihe financial statements 9-14
SALTERS? COMPANY JAMES SMITH'S ALMSHOUSE CHARTrY TRUSTEE ALYD ADVISORS FOR THE YEAR ENDED 30 JUNE 2025 Trustee The Master. Wardens and Commonalry of the Art or Mistery of Salters, London Master Mr AS Mcmurtrie Upper WardeD The Lord R¢xkley Second Warden Mr JF Stebbing B#nkers Lloyds Bank ple Threathieedle Street. London Sollclto Pinsent M&sons LLP London lllveitment MADAger Newton Inveslmcnt Management Limited London Audlior• Saffery LLP 71 Queen Victoria Streel London EC4V 4BE Clerk to the Trujte Mr TD Smlth Enquiries about the Charity should be addressed 10 Mr TD Smith The Salters, Company Salters, Hall 4 London Wall Place London EC2Y 5DE Regis¢¢red Charity N 203458 DAte of reglJtr4tion: 23 Febnwy 1993
SALTERS, COMPANY JAMES SMITH'S ALMSHOUSE CHA]UTY REPORT OF THE TRUSTEE FOR THE YEAR ENDED 30 JUIYE 2025 The Trustee presents its report for the year ended 30 June 2025. Trustee The Tr[¢¢ is appointed and serves in accordan¢e with the terms ofthe Twsi Deed. The Court ofthe Salters, Company ting for the Company as Trustee meets lo discuss the SaIr$, Company James Smith's Almshouse Charity matters at least twice a year. Trustees And *dv150rs The nBmes of the Trustee and its advisors are shown on the preceding p28e. Trustee respoDslbllltles The TNslee is responsible for plaring the Report of the TnL8tee and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). The law applicable to charities in Englond & Wales requires the Trusttt to prepare financiAI statements for each rinancial year which give a Irue and fwr view of the stale of affairs of the charity and of the incoming resou¢8 and application of resources of the Charity for that period. In preparing these financial statements. Ihe Trustee is required lo.. select. suitable aountIng wlicies and then apply them consistently> obsetve the methods and principles in the Charities SORP (Statrment of Recommended Practi¢e)' make judgements and estirnates that ar¢ reasonable and prudent.. stale whether appli¢able ac¢ountingsthndards have been followed, subject to any material departures disc105ed and explained in the financial staiemenls. and prepare the financial statements on the going concem basis unless it is in&ppropriat¢ to presume that the Charity will continue a going Cortcem. Thc Trustee is responsible for keeping proper accounting records which disclose wilh reasonable accuracy at any time Ihe financial position of the Charity and to enable it to ensure th the financial statements comply with the Charities Act 2011, the Charicy (Accounts and Reports) Regulations 2008 and the provisions of the Tnt deed. It is also responsible for the prevention and detection of fraud and other irregularilies. Tbe Charlty Eight houses ai 79-85 Bridge Road, Maidenhead were founded as almsh0c$ by James Smith in 1661. The eight houses were Converted into four houses in 1949. The four hou5cs were further converted into eight flats in 1989. Nominations are for men and iheir wives, or poor widows or widowers, for inhabitsnts of the Royal Borough of Wind50T and Maidenhead 8nd above fify years of age. Nominations may be made alternately by the Council of the Royal Borough of Wind50r and Maidenhead and the Parish of Cwkham. subjecl to the approbation and confimation of the Salters, Company. The Charity is regulated by a Scheme of the Chariry Commissioners of 23 February 1993. The Charity ¢nlered into a 100 year long le&se on 29 September 1988 with the Royal Borough of Windsor & Maidenhead for Salters, Close, on which nine bUn8OWS have been built. Objective and gitDs of the Charlty Th¢ princip objective and aim of the Charity. &% sel OUI in the Scheme, is io apply the income of the Charity for the b¢nefit of the rnsF0pje of the Clwity or any of them in such a Mater as the Trustee thinks fit from time to time. A¢tivitles of the Charity Th¢ Charity aims to ensure the wellbeing of all the almshouse residen(s. There were eight r¢sidents occupying the eight flats at 30 June 2025. Key Personnel The Charity's key personnel and decision maker is the Tn]stee acting either via the Salters, Coun or 8 nominated sU¢0MmIttee. They did not receive remunerdlion nor expenses. DoDatlOll8 from Trustee Th¢r¢ have been no donations from the TnJsiee during the year.
SALTERS? COMPANY JAMES SMITH•S ALMSHOUSE CHARrrY REPORT OF THE TRUSTEE (continued) FOR THE YEAR ENDED 30 JUNE 2025 Investment powersj policy and performance The Trustee's inv¢stment powers are governed by the Trtl Deed, which pern)its the Charity's funds to be invested in any security listed on the London Stock Exchang¢. Th¢ policy is to produce the optimum total return from income or capital. whichever is the more effective in the prevailing conditions. The Charity's investments have continued to be managed by the Clwity's investment manager in eonforniity with )licy and the Trust Deed. The portfolio enjoyed another positive year and by the yearryend the portfolio had experienced an incre¢ in value of £28,686. Publle b¢llefit Th¢ Ttwstee has referred to the guidance cont&ined in the Charity Commission's general guidance on public benefit when reviewing the aims and obje¢lives and in planning future activities. In particular the Trustee considers how planned activities will contribulc lo the aims and objectives they have sel. The Trytee considers the cuent aclivities deliver public benefit. Details of the activities are given earlier in this rerrt)rt. Principal rlsks and ullcertaln¢S¢s The Trustee considers Ihcrc are no moterial risks or uncertaintie5 &bout ihe Charity's ability to continue as a goin8 oncern due to ihe value of ihe total Charity funds at the year-end. The principal risks of the Charity as assessed by the trustee are: (l) Fire and Flood, which risk is mitigated with a building insurance policy and (2) rising costs of maintenance, which is mili8ated by adequately funded maintenance fvnds. Flnanelal po8ltlon and reserves pollcy of the Cbarlty The reseTves policy is lo build and hold investments to provide an income Stream towards meeting the Charity's operating cosis. Ai 30 June 2025 free reseryes were £545,054 (2024: £520,759), This figure does not include ihe value of the housing land and building5, £263.889 (2024: £263,889), as the Trustee does not consider this lo be a readily rcalisable asset, whilst the Charity continues lo operate. The TrStee believes il is appropriate to hold reserves of beeen £0.35million and £0.75rnillion to fulfil their obligaiions to residents should ther¢ be a fall in the incom¢ of the Charity or a sudden rte¢d for major expenditure. In the cutTent economic climate, the Trnstee does nol believe the level of reserves is ex¢es5iv¢. In the longer-terni the Charity may require subslanlially higher resetves when the long leasehold expires (see Note 1.3). Future pla Th¢ Trustee will continue to meet the objective atMI aim of the Charity which is to apply the income of the Charity for the benefit of the almspeople of the Charity or any of them in such a manner as ihe Trustee thinks fit from lime to time. In doing so it will ¢onsider all methods of achieving this. For and on behf of Salters, Company James Smith's Almshouse Charity on 30th Oclober 2025. AS Mcmurtrie Master For the Tntee The Lord Rockley Upper Warden For the TruSe Clerk to the Trustee
SALTERS? COMPANY JAMES SMITH'S ALMSHOUSE CHARrrY INDEPENDENT AUDITORS, REPORT TO THE TRUSTEE FOR THE YEAR ENDED 30 JUNE 202S Oplnlon W¢ have iudited the financial statements of the Salters, Company Jame5 Smith's A]mshose Chariry for the year ended 30 June 2025. which comprise the Statement of Financial Activities. the Balance Sheet atKI notes io the financial statements. including a summary of significant OUntIng policies. The firwicial reporting framework that has been applied in rheir preparation is applicable law and Unitcd Kingdom Accounting Standards, including Financial Reporting Standard 102, the Financial Reporting Stsndard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepied Accounting Practice). In our opinion the financial stalements: give a true and fair view ofthe state of the charity's affairs as at 30 June 2025 and of its inwming resources and application of r¢sources for the year then ended. have been properly prepared in accordan¢e with United Kingdom Generally Acc¢pted Accounting Practice; and have been prepared in accordance with the requirements of the Charities Act 2011. B48iJ for opinlon We conductrd our audit in aecordance with International StAndards on Auditing (UK) (ISAS (UK)) and applicable law. Our r¢sponsibiliiies under those Standards are further d¢s¢ribed in the Auditor's responsibilities for the audit of the financial siatemenis section of our report. We are independent of ihe charity in accordance with the ethical requirements ihat are relevant to our audit of ihe finon¢ial statements in the UK, including the FRC'S EthicAI Standard, and we have fulfilled our other ethical responsibilities in accordan¢¢ with these requirements. We believe that ihe audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion. Concluslon relatlDR ¢0 going collcern In auditing the financial statements, we have concluded that ihe ThLStee's use of the going concern b&4is of accounting in the preparation of the financial .8larements is appropriar¢. Based on the work we have perfomied, we havc not identified any material unccrtainties relating to events or conditions that, individually or collectively? may cast significani doubt on the Charity's ability to continue as a going concern for a period of at least twelve months from when the financial sla(emenls are authori3ed for issu¢. Our responsibilities and the responsibilities of the Trustee with respect to going con¢¢m are described ift the relevant sections of this report. Other Inforniatlon The Trustee is responsiblc for the other information. The other infomjation ¢omprise5 the informalion included in the annual report, other than the financial statemenls and our auditors, report Ihereon. Our opinion on the financial statements does not cover the other infoTmalion and, except to the extent o¢herwise expliciily stated in our report, w¢ do not expr¢55 any forni of assurance conclusion thereon. Our responsibility is to read the other inforniation and. in doing so, consider whether the other information is materially inconsisteni with the financial statem¢nls or our knowledge obtained in the audit or Diherwisc appears to be mal¢rially misststed. If we identify such material in¢onsisten¢ies or apparent maierial misslat¢m¢nts, we are required to determine whether this gives rise to a Tnaterial mi55tatement in the finan¢ial 514tements themselves. If, based on Ihc work we have perfornie4 we conclude that there 15 a material mi5Stat¢ment of this other information, we are required to r¢port that fact. We have nothing lo report in this regard. Matters OD wblch we ire required to report by ceptIOn We have nothing to report in respect of the following matter5 in relation to which the Chariti¢s (Accounts and Reports) Regulations 2008 require us to report to you if, in our opinion.. the infomiation given in the Trstee Annual Report is incollsistent in any material respect with the fitw)¢ial statern¢nts' or the Charity has not kept sufficient aecounting records. or the financial sia(ements are not in weement with th¢ accounling records and retums. or we have not received all the inforniation and explanations w¢ require for our audit.
SALTERS¥ COMPANY JAMES SMITH?S ALMSHOUSE CHARITY INDEPEL¥DENT AUDITORS, REPORT TO THE TRUSTEE FOR THE YEAR ENDED JO JUNE 2025 ReS)n51b1lltltS of the Trn8ttt As explained more llY in the Truste¢ Rcsponsibilities Statement sel our on page 2. the trustce is responsible for the preparation of ihe financial statements and for being satisfied that they give a true and fair view. and for such internal control as th¢ tnLSt¢es deterniine is neSSary to enable the prcparation of financial teMents that are free from material tlli55tat¢men¢ whether due to fraud or error. In preparing lh¢ financial stateTnents, the trustee is responsible for &ssessing the charity's ability to continue as a going concern, disclosing, as applicable. matters related to going ¢on¢ern and using the going con¢ern basis of accounting unless the trustees either intend to liquidate the charity or io cease operations, or have no realisti¢ altemative but to do so. Auditor's reSpoSIbIlItIeS for the )iudit of tbe flngnelal stateTDents We have been appointed as auditors under ihe Charities Act 2011 and report in a¢cordance with regulations made under that Act. Our objectives are to obtain re&sonable assurance about whether the financial statements as a whole are free from material misst&teTnenlS. whether due to fraud or error. and to issue an auditols rert that includes our opinion. Reasonable assurance is a high l¢vel of assurance. but 15 not a guarantee that an audit conducted in accordance with ISAS (UK) will always detect a malerial missiatement when il exists. Misstatements can aris¢ from fraud or error and ar¢ considered material if, individually or in ihe aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements. Irregularities, inrluding fraud, are inslances of non•compliance with laws and regulatiorts. We design procedures in line with our responsibilities, outlined above, to detect material missi&(emenis in respect of irregularities. including fraud. The specifi¢ pro¢edures for this engagement and the extent lo which these are capable of d¢iecting irregulariiies, including fraud are detailed below. Identifying and assessing risks related io irregularities.. We Lssessed the susceptibilily of the Charity's financial statements to materi81 misststemenl and how fraud might occur, including through discussion with management, discussions wiihin our audit team planning meeting, updating our record of inremal contro15 and ensuring these ¢onlro15 operaied as intended, We evaluated possible incentive5 and opportunili¢s for fraudulent manipulation of the financial siatem¢nts. We identified laws and regulations that are of si8nificance in the context of the Charity by discussions with mana8ement and updating our understanding of the sector in which the Charity operates. Laws and regUllOnS of direcl significance in the context of the Chariry include the Charities Act 201 I, the Charities (Account and Reports) Regulations 2008 and guidance issued by th¢ Charity Commission for England and Wales. Audit r¢5ponse to risk idenlified., We considered the extent of compliance with Ie laws and regulations as part of our audit procedur on the r¢lat¢d financial statemeni items including a review of financial Stament disclosures. We reviewed the Charity's r¢¢ords of brea¢h¢s of laws and regulatioris, minutes ofmeetings and Correspondence with relevant authorities to identify potcniial mal¢rial misststemcnts arising. We discussed thc Charity's policies and procedures for compliance with laws and regulation5 With members of managemcnt respoThsible for compliance. During the planning meeting with the audit team, the engagement partner drew attention 10 the key areas which might involve non-¢ompliance with laws and regulations or frdud. We enquired of manageTn¢nt whether they were aware of any instan¢es of non-compliance with laws and regulations or knowledge of any arthal, suspected or alleged fraud. We addressed the risk of fraud rhrough rnanagement override of controls by testing the appropriaten¢ss of journal entries and ideniifying any significant transactions that were Unusu or outside the nornial cour5¢ of business. We asse5s¢d whether judgements made in making accounting estimates gave rise to a EX)5sible indication of management bia5. At ihe completion 5tagc of the audit, the engagement partnevs review inclu(kd ensuring that the team had approached iheir work with appropriate professional gcepticism and thus the capacity to identify non-compliance with laws and regulations and fraud. There are inherent limitations in the audit procedur¢s described above and the furth¢r removed non-compliance with laws and regulations is from the events and transactions reflected in the financial statements, the Ic55 likely we would become aware of it. Also, the risk of not det¢cting a material mis5¢ment due to fraud is tugher than the risk of not detecting one resulting fri)m error, &s fraud may involve deliberate concealment by. for example, forgery or intentionai tlli5r¢presentations, or Ihrough coll$10n. A further des¢ription of our responsibilities for the audit of the financial statements is IcKated on the Financial Reporting Council's website ai: www.frc.org.uklauditor5rrsporLsibilities. This description fomis part of our &uditorfs rep)rt.
SALTERS, COMPANY JAMES SMITH'S ALMSHOUSE CHARirY INDEPENDENT AUDITORS, REPORT TO THE TRUEE (¢olltlnu¢d) FOR THE YEAR ENDED 30 JUNE 2025 Use ofour rewjrt This report is made solely to the charity's Irustee. as & body, in accordance with part 4 of the Charities Accounts and Reports) Regul&lions 2008. Our audit work has been undertaken so that we rnighi state to the tNste¢s those matters we are required to stmte to them in an auditors, report and for no other purpose. To the fullest extent perniitted by law. we do accept or assume responsibility to anyon¢ other th8n the charity and the tnle¢S as & body. for our audit worK for this reporL or for th¢ opinions we have fornied. Saffery LLP Statutory Auditors 71 Queen Vicloria Strcel London, EC4V 4BE Saff¢ry LLP is eligible to act &$ an auditor in ternis of section 1212 of the Companies Act 2(Ki6 and coN8equently lo act th¢ auditor of a registered charity.
SALTEILS, COMPANY JAMES SMrrH*S ALMSHOUSE CHARITY STATEMENT OF FINANCIAL A1VITIEs FOR THE YEAR ENDED 30 JUNE 2025 2025 Unrestricted Funds 2024 Unrutrieted Funds Note In¢om¢ from: Charitable activities: Lettings Investments 71,166 16.334 62,126 16.031 To¢al Income ExpeDdliyre on: Charitable activities Almshouse management costs Repairs and maintenance Chher 24,974 20,475 27,480 20,905 33,725 24,846 Total eipeDdlture Net opernting surplusl(d¢fi¢it) Net investsnent gains Net movement of funds 72,929 79,476 14,571 {1,319) 58.584 43,257 57,265 Reconelliatloll of fuMd& Funds at l July 2024 1022 529 at 30 June 2025 1.065,786 1022,529 All of the above results derive from continuing adivities of the Charity. There are no recognised gains and losses other than those reported above. Notes I to 10 forni part of these financial statem¢nl&
SALTERS, COMPANY JAMES SMrrH'S ALMSHOUSE CHARITY BALANCE SHEET AS AT 30 JUNE 2025 Note 2025 2024 Fixed a8Aets Tangible &ssets Investhients Total fiIed assets 263,889 767,020 1,030.909 263,889 738 334 .002,223 Current gmets DeorS Cash al bank Total rMrr¢Dt sJets CurreDt114bllltleB Creditors 4,275 3.042 45.612 31,031 Net currellt ell l (IlbllldeJ) Net a8Jets 1.065 786 1022,529 Tbe fundj of the Charfty UnreJtrl¢ted Funds: Cycli¢al maintenance EXtrrdinary repairs General fvnd 42.658 214.185 34,130 203,751 784 648 Total Charlty Fundi 1065,786 1.022.529 Th¢ financial statemenis on pages 7 to 14 were approved by the Trustee on 30th October 2025. The Lord Roekley Upper Warden For the Trustee MTT Clerk to i Mas ¢r For the Trustee rust¢e The notes I to 10 fornj part of these financial staternents.
SALTERS? COMPANY JAMES SMITH'S ALMSHOUSE CHARITY NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUTrIE 2025 Accountlng pollcle8 1.1 AeeountlDg conventlon The accounis have been prepared under the historical c05t convention with item5 recogniscd at cost or transaction value unless otherwise slated in the relevant note(s) to these a¢¢ounts. The a¢¢ounts have been prepared in &¢cordance with the'staternent of Recommended Practice: Accounting and Reptsrting by Charities preparing Their accounts in accordaTJC¢ With the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (2nd edilion), and the Financial Reporting Standard applicable in th¢ United Kingdolll and Republic of Ireland (FRS 102) and the Charities Act 2011. The financial statemcnts have been prepad 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. The financial statements are prepared in pounds slerling, whi¢h is the functional currency of the Charity. Monetary amounts in ih¢s¢ financial ststements are rounded to the nearest £. The Charity constitutes a publi¢ benefit entity as defined by FRS 102. The Trusiee COLderS there are no material uncertsinties about the Charity's abiliry lo ¢ontinue as & going concern to the volume of ihe tota] Chariry funds al the year-end. 1.2 Turnover Tumov¢r represent5 amounts receivable irt the UK from investments and rental income. 1.3 FlIed &ets The 1989 development of eight Maidenhead Almshouses was funded by a grant and loan from the HousinB Corporation. The Charity subsequently entered into a 100 year lease with Maidenhead Coun¢il which expires on 28 September 2088 and attracts an annual ground rent of £90. The freehold properties are stated ai cost. No depreciation has been charged. As &re5uIÉ the freehold properties 8se subjected to impairment reviews al the end of each reponing period. 1.4 IneDmbn8 regovr¢e8 Investment in¢ome is credited on a receivable b1$. Interest on deposits is credited ort an accruals basis. 1.5 Resourtts expended The cost of minor repairs artd maintenance is charged in the income and expenditure a¢count for the year. Major paIrS are expensed in th¢ same way if income allows or ar¢ provided for by means of the cyclical maintenanc¢ reserve and the extraordinary repairs reserve which have been set up with the approval of the Charity Commission on the basis of annual contributions oul of income of amounts not less than those recommended by the National AlmshoSe Association. The cyGli¢al maintenance r¢serve is designed to meet the periodic requirements for internal repairs and deCoratiOn of the almshouses. All repairs and maintenance Costs incurred during the year were Charged against income. 1.6 aCCOUDting General funds relate to the accumulat¢d unexpended income and capiral. In accordan¢¢ with the Charity ComTnission S¢h¢me, dated 23 February 1993, any amounts not n¢¢ded for immediate working purposes are invest¢d in trst for the Charity- These funds can be spent wh¢never they are required and as such are unrestri¢t¢d. The cyclical tnaint¢nance fund and the cxtraordinary repairs fund are funds which have been designated by the Tntee. Th¢ cyclical maintenance fund is Sed for planned maintenance works. The extraordinary repairs nd will be used for tUre repairs And for asse55ing what repairs are requircd.
SALTERS, COMPANY JAMES SMITH'S ALIloUsE CHARITY NOTES TO THE FINANCIAL STATEMENTS (tontinued) FOR THE YEAR ENDED 30 JUI¥E 2025 Ae¢ouDtlng policies (eontinlled) 1.7 CrAd¢al egtlmates and Judgements Dd key sources of estimation uneer¢#lllty In the application of the Charity's accounting policies, the trtee is required to make judgements, estimates and assumptions about the catrying amount of asgets and liabilities Ihat are noi readily apparent from other sources. Th¢ estimates are rccogT]ised in the period in which the eslimate is revised where the revision affects only th period, or irt the period of the revision and future perio(L4 wher¢ the revision affects both ¢urr¢nl and future periods. 2 ID¢ome Dd expendlture Op¢rtlDg Income OperatlDg costs 2025 Surplu8 2024 Surplus Income and expenditure from L¢ttin85 Interest and dividends 71,166 72,929 (1.763) (17.350) Total Total 2024 2025 2024 Operatlng lttcome Rents and service charges Dividends 71,166 62,126 OperatlDg coJ¢g Direct costs Repairs and Maintenance Other Dirc¢t Costs Total Direcl Costs Adminislrative costs Audit fee 20,475 33.725 42,378 27.480 51.704 24,846 3 Otber expendlture 2025 2024 Seconthnent charges- The Salters, Management Company Limited 27,480 * The Salt¢rs' Mgstagement Company Limited 15 a subsidiary Company of The Salter5' Company the Charity's Trustee.
SALTERSI COMPANY JAMES SMITHJS AIMSHOUSE CHARITY IYOTES TO THE FINANCiAL STATEMENTS (¢ontinued) FOR THE YEAR ENDED 30 JUNE 2025 4 Employee and Trustee Inforniation The Charity has no employees. The TnLStee received neither remuneration nor reimbursement of expenses in ihis or the pr¢ceding periods. 5 TAnglbl¢ A88ets Houslng IAnd and bulldlng8 Cojt and net book value At l July 2024 and 30 June 2025 263.889 Th¢ TnLStee h&$ carried out an impairment review and no irnpairnient is necessary. 6 Inves¢meDts An analysis of the investments attributsble to the funds of the ¢harity is sel out b¢low', ExtraordlnAry repAlr rund General fund 2025 TntAI 2024 TotAI Stock exchange securilies at market valu¢ Deposits 30 June 2025 530,056 232 236,558 174 766,614 406 767 020 737,928 406 738 334 530 288 236 732 30 June 2024 510454 227 880 738 334 S¢¢uritley 2025 2024 Market value At l July Additions Disposals Net investment gain M8rkel value xt 30 Jun¢ 738,334 679.750 58,584 738,334 767 020 Historic cost 342831 342831 Investments held at 30 June 2025 considered tnat¢rial in the ¢ontext of ihe market value of the portfolio are: Newton Fund Ma1CrS Global Growth and Incom¢ Fund for Charitie5 766 614 737.928
SALTERS, COMPANY JAMES SMITH'S AlIlSOUSE CHARrrY NOTES TO THE FINANCIAL STATEMENTS (continued) FOR THE YEAR ENDED 30 JUNE 2025 7 Debtors 2025 2024 Debtor& ail of which are due within one year. comprise.. Prepayments and sundry debtors 4.275 8 Credlton 2025 2024 Creditors a]1 of which are due within one year, comprise: The Salters, Managemenl Company Ltd ATual$ and sundry creditors 6.246 6,867
SALTERS? COMPANY JAMES SMITH'S ALMSHOUSE CHARITY NOTES TO THE FILYANCIAL STATEMENTS (contlnued) FOR THE YEAR EIWED 30 JUNT 2025 9 Ullre8trk¢ed Fund8 ExtriordlA#ry reIrS fund cycl11 General Thd Analys1$ of movement In fund8 fund Tot1 At l July 2024 Incoming resowc¢s Expendittire Transfer Nel investment gains At 30 June 2025 784.648 82.459 (64,254) (13,744) 203,751 5.041 {8,675) 5.216 34.130 1.022.529 87,5(K) (72,929) 8.528 28.686 1,065,786 808 943 214.185 42,658 EitrAordinary replrs nd Cycli¢•l malnt¢nance fund 2025 Totgl Fun General fund AD#lyg58 ofllet •sJetJ behveen fundi Land and buildings Investments Net Current assets 263,889 530,288 263,889 767,020 194,074 42,658 A(30 June 2025 808 943 214 185 1065 786 Extrordlnary repAI fund Cyellcal lntenAnte fund PRIOR YEAR AD*ly&l& of movement ID tknndg Generil fund Totil At l July 2023 Incoming resources Expendifvre Transfer 740,071 73,210 {55.675) (13,464) 199,415 4.947 {23.801) 5.112 25,778 965.264 78,157 (79,476) 8.352 Net investment gains At 30 June 2024 203 751 1022 529 Analysls of llet a$8ets belween ExtrAordlnxry r¢palrs Cy¢ll¢al 2024 Total Funds General nd fund Land and buildings Investments 263,889 510,454 10.305 263.889 738,334 193,750 34.130 Net cwrent &ssets At 30 June 2024 784.648 203 751 1022 529 In the y¢ar transfers have bcen m&de from the Gene Fund to ihe Exts8ordinary repairs fund and the Cy¢lical maintenance fund as recommended by the A]msho£e A&sociation.
SALTERS? COMPANY JAMES SMrrH'S AIJWSHOUSE CHARITY NOTES TO THE FllYANCIAL STATEMENTS (continued) FOR THE YEAR ElED 30 JtJNE 2025 10 Related party tran$ctlons Expertditure for the y¢ar includes £27,480 (2024: £24,846) relating to recharged employment and accommodation charges from The Salters, Manag¢ment Company Ltd. The Salt¢rs' Management Company Ltd is a subsidiary of the Saliers, Company the Charity's Trusree. At the year end the Charity owed £6.246 (2024.. £6,867) to The Salters, Management Company Limited. There were no other related p8Jty transactions during the year.