Charity re8istration number.. 203488 Tewkesbury Almshouse Trust Annual Reix)rt 8JLd Financial Stat¢meTJts for the Year Ended 31 tkcember 2024
Tewkesbury Almshouse Trust Contents Reference and Administsativ¢ Details TruSe5, ReEM)rt Independent &xamittr's reFQrt ..........-.-.--___.... St2tem¢ni of f]nan¢ial activitL¢S 2to4 Balance Sheet _....__.......-.-._-... Notes to t fitsqncial statements _ 8t0 12
Teivkesbury Almshouse Trust Reference and Administrative Details arity name 'I'ewke5bury A]mshouse 'lrust arity reglstrAtion number 203488 Principal office TewkesbLUy Althy Offlce Church Street T¢wke5bury Gloucestershire GL20 SRZ Register Tewkesbury Abbey 01¢¢ Church Street Tewk¢sbury Glou¢est¢rskn'ie GL20 5RZ Trnstees Dr R Hod8es Mr P Hun5ton Mr D Hartottle Mr C Mollk Dr S Hut¢hison Mrs N Oake5 Mrs J RayBwd MT P CIN%mwn Revd Canon N Davies, ChqinrAn Barclays Ba])k plt Business Barlking Leicester LE87 2BB Devereux & Hunt Ltd 51 BFAsepoint Business Centre Oakfield Close Tewke5bury Glou¢¢stetshJ"re GL20 8SD Pa8e I
Tewkesbury Almshouse Trnst Trustees, Report The trusiees present their rep)rt and the fUncial ststements for the year elld 31 tknmEer 2024. I. CONSTITufioN AND PRif4cipAL AIMS AND OBJECTIVFS The charity established in the sevenieenth ¢entwy by way OF charitsble trusts. It is a Registerd Charity. number 203488, and a Re8lStered &)cial Landlord. The charity 1$ 8ovemed by the ChaTity CoThmi5sion Scheme Of 6 Lkcember 1957, as varied by the Scheme of 6 July 1973. The charity n]aintains and lets out several piopetti¢s in Tewkesbury to the elderly to include.. Russell Flats. Church Street Richardson BgalOW$. Gatth Lane The charity may a150 eleGt to give 12 "Bedesmen" (88ed men Irom '1¢(esbury) a yield Irom a quarterly investment. I ADMINISTRATTVE INFORMATIOF4 Adn]ini5tTative information ss as slK)wn on pa8¢ 1. 3. TRUSTEES The tsustees seryed durin8 the Ye We.. R¢v'd Canon N Davi¢s (Chairman) rvfr J JetTreys- Oiesigned l November 2024) Dr li Hodg¢s Nfy P Chamw) Mr P HstOn Mt D Harb)ttle Mr C Monk Dr S Hutchison Mrs J Rayw)od Mrs N Oakes They inclu& three nominated ieptesentative fTOm the ToHn cou11. the vi[ and the Churchwardens or 'I'¢wkesbury Ablry, as Thyll as honorary TneTnbers troTn the l(Kal comtnunity nominated by the cornmitt¢¢ its¢lr. Pa8e 2
Tewkesbury AInhouSe Trust Trustees, Report 4. REVIEW OF THE DEVELophrEpifs IIN THE YEAR During 2024. five ot the bathTooms in Russell Flat5 were upgraded at a total cost ot £44.824. REVIEW OF THE FINANCIAL STATEMENrs Conttibutions from social housing letting have iDcrea$d by 50/0 compai¢d with 18$t year. Operatin8 Costs have incr¢ased in the yeAt leading to a lo&$ before unrealised Sains and loss¢s of £6.712 ]ll8 re¢orded in 2024. Ix>tnpgred to a profjt of £21,399 in 2023. The charity's ll)vestments incre8$¢d in valu¢ by £3.748 resultin8 in a rEt Ios5 of £2,964 (2023.. £26,103 pmfit). & STATEME1 OF TRUSTEES. RESP(K4SIBILITIES Socjal hous5ng legJ$lation requir¢5 thc board to prepare linancial staternents lor eath linancial year Htiich give a ITU¢ and fair of the 5tste of affairs of the registered social landlord and of the surplus or defitit for that period. In pryring these f]nancial statements. the EK18rd is required to.. s¢11 suitable awountin8 poliGies and then apply them consistently: make judgementsand estimaies that are reasonable and prudent; stste whethei appli¢able a¢¢oLm¢Lfi8 5tandaids have IKcn Followe& subject to any material departures disclosed and explained in the fuJan¢ial stsiements: and prepare the f]nancial Statements on the 80in8 coneem basis unless it is inappropriate to Pt¢sum¢ that the registered 8oci&I landlord will ¢ontinue in twin&%s. The twstee$ aTe re4)onsible tor keeping proper awounting records whith disolos¢ with reasonable accuracy at 8Y lime the r]nan¢ial wsition of the r¢wsteTed social landlord and to enable il to ensure that the fmancial atements comply with S¢hedule I to the Housing A¢1 1996 and ihe A¢couniing Requiretnents for Registered Social Landloid5 General Detetsninalion 2006. It has general responsibility for takin8 reasonable steps ro safe8uard the assets of the re8iStered social landlord and to prevent and dett fraud at other itF¢gularities The charity's trustees consider that an auth't is not required lor this year and that they not Bet these arKounts audited. 7. FUNDS Funds dre 8vailable to fi21fi1 obligations as they fall due. & COf4NEcfED CHARITIES Th¢r¢ ar¢ oth¢r dir¢wily nn¢¢(¢d ¢hariii¢s. Page 3
Tewkesbuiy A]nishfi115e Ti'ust Trustees, Report 9. FUNDS HELD ON BEIi4LF OF OTRERS Tlici'e arc iio assets oi fui)ds held on behall ol-oth¢JB. Foi" aiid on behalf of Ihe tru.sie&% on 18 Septcinba" 20?5. Rev'd C.ani)n N Davie5 Ch¢iifiTh¢iD Page 4
Independent Examiner's Report to the Trnstees Tewkesbury Almshouse Trust I report on the accounts of the I'rust for the year etsled 31 DecemE*r 2024. which are set out on pag¢$ 6 to 12. R¢sp¢¢¢ive Mpon5ibilities of tru5ttts and eMIner The trus£5 arc r¢snsible for the prepardtioTh of the accounts. The trustees consider that an audit is not required for this year under section 144{2) of the Charities Act 2011(th¢ 2011 Act) aThJ that an independent examination is needed It is rPOnSi11ty to.. examine the a¢¢ounts under se¢tion 145 of tlLe 2011 AGt: Follow the pro¢edures laid doThn in the Generdl Directions given by the Charity Comn)ission under section 14515) 0)) of tbe 2011 Act. and Sta whether parti¢u]arm&rters have come io my atieniio Bo$1$ of Indq)tnd¢nt exananer'$ r¢port My examination w15 caTTied out in accordance with the Gen¢ral IA"rcctions 8iV¢5L by the Charity commi10n. An exarnination incluiks a review of the accounting cOrdS kepl by charity and 8 comparison of the accoullt5 Present with records. It also includes con5idtTatson of any unusual il¢5 or disclosure5 in the accounts, and seeking explanations from you as tr£(eeS Concerni any such matters. The proceduTe$ dertaken do not provide all the evidence that w)uld be required in an audit and co¢qUentIY no opinion is 8iven as to wh¢thci the a¢¢ounts a'ttu¢ and fair view aTx4 th¢ r¢tK>rt is limited to those matters s¢t out in the statement below. Independent Luminer's stateDwit In connectson examination. no matter ha5 QOIlle to my attention". (l) wkn.ch reasonable cause to believe that in any rnatetial respe¢t th¢ iequiretnent5.' to keep a)untItig ]Ycords in a¢¢ordanc¢ with se¢tion 130 of the Act; and to prepare accounts wknch accoTdwith the accounting [trdS and comply with the aGcounti118 requirements of the 2011 Act have not been meL 01 (2) to tilCh, in my opinion, attention should be dramn in order to enable a PrOr under5tanthn8 of the a¢¢ow)ts to be reached. 51 Basepoint Bw8ine$s Centre Oakfield Close Tewkesbury Gloucestershire Mi¢hel¢ Devereux tkveTeux & Ltd C¢rtifJd Actountsnts GL20 8SD 18 S¢ptemlKr 2025 Page 5
Tewkesbury Almshouse Trust Housing Revenne Account for the Year Ended 31 December 2024 UnrestJ4eted Totol Funds Tot Funds Funds 2024 21123 Incoming resourees l]womiTJ8 resources frtsm generated funds Investment income Incomin8 re50urce5 from ciwitsble activities Total incoTfLin8 rcsourccs 5.028 46.507 51.535 5,028 46.507 51,535 3,670 44,343 48,013 R¢50urr¢5 cipended Charitable activities Total resource5 exF£nded 58.247 58.247 58247 58,247 26.614 26.614 Nct {out80in8)ILncomin8 rcsources IKfor¢ other reco8n15ed 8ains and losses Other cOgnISed gainsllos8es UnTeali$ed 8aios on investmetxt assets (6,712) 16,712) 21.399 3.748 3.748 4.704 Net movements in funds 0.964) (2.964) 26.103 Reeontiliation of fvnd$ Total fut)d8 brought f(¥rward Total funds caled forward 255,292 252.328 255,292 252.328 229,189 255,292 All incomin8 resources and resources exnded derive Irorn Continui activities. Th¢ not¢5 on pa8¢s 8 ¢0 12 Forrn an inteal part of th¢5¢ financial stateTnents. Pa8e 6
Tewkesbury A]mshou$e Trust Balanee Sheet as at 31 Deeember 2024 2024 2L123 Note Fixed #ssets Taii8ible Ic Sscts Ityvesblleiits 7,926 100.878 108.804 9,935 97,liO 107.OC)5 Ciji'reiit fissets Debtors 2,545 141,5.54 144,099 617 148,845 149,462 Creditorg= AIMount5 lalliEig diie Ivithin one year (575) (1.235) Net Lul'rent ass¥ts 143,524 148,227 N¥t #ssEts 252,328 ?55,?92 The fuiids of rhe eb&rfty". tinrestri¢t¢d funils Ilevaluation re.%ei'i'e UA]JrstrIci kncon)e fvnds 38,695 213,633 252.328 34.947 220.345 255,292 Totdl chavity tuud5 252.328 255,?92 Ai)proved by tlic Board oil 18 Seijteinbei" 2025 aiid 5igiied on ILE bdjallby.. Rev'd Cal)) N Davies Cliaiiman The iloles on page¥ 8 10 12 forin an intebyial p.l ofihese nlicial slateine51ts. Pagc 7
Tewkesbury Almshouse Trust Notes to the Financial Statements for the Year Ended 31 December 2024 A¢¢oun¢lng pollck$ B#sls tsf prepaT¥tlon The r]nan¢ial statements have prep&Rd in accordance wittL applicabl¢ Awouutin8 Standards in the United Kin8don4 the Accouttting Requirements lor ReBislered Social LaThllords General DetennirLaiion 2006 and the Statement of Recommetded 14actice Accounting by re8lStered CIal landlord5'. A su[wry of the more impo]#ant actounting poli¢i¢s is set out below. Basis of Accounting The fin3ncial statements Ère prepared UTKler the historioal ¢05t conyenlion and in accorda¢ ryth Accountin8 and Rew)tting by Charities.. Statement of Recommended 14aclice alICable to charities preparing their accounts in accordance MTrth the Financial Reportin8 Standard applicable in the UK and Republic of Ireland (FRS 102) {efFective l January 2015)- [chllieS SORP (FRS 102)).. Fwid accounting poll Unrestricted incorne funds are 8eneral fLmds that are available for use at the trustees, discretion in fiutknan¢¢ ofth¢ otsectives of the ch8rity. tneomlng resouNYs Investtnent income is reCOlsed otta receivable basis. ome from charitable activities includes income represents maintenance ¢ont[ltIonS receivable from nine units. Resources expended Tewke5bury Almhous¢ Trust has e5tsbished a teguiar pro¢ of cyclical repair$ and maintenance. Costs are charged to the general fund in the year in which they are incurred. Costs of extraordinary repairs. un]ess repyesenting improv¢ments to the FfOlXrtie$, Sre ¢h8rged to the general ftmd in the year in which they are incurred. Fixed 45Set$ There is record of 0ri8u]al cost and no value is Aitiibuied theFeto. The Housing PropErties cost relate to improvements carried out which were funded by a Housing CorEK>ration Grant 2nd a mortgage l¢)an trom Housin8 Corw)ration secured by a charge on houSll land and buildin85. Depreciation is ¢al¢ulated $0 as to write off the cost of the improvements on a strai8bt line basis over their expecied ¢ful econimic lives. The pnnciwl annual rat¢ used for this PUTpose is oonsistent with that of the previous year is 5/0. Inve5tnwits Unlisted inve$tn*nt$ are stated at tDark¢t value in the balance sheet. Ail movements in value arisin8 from ¢harges &nd r¢v81u8tion$ 8re included in the income and exwiditure account. Pa8e 8
Tewkesbury Almshouse Trnst Notes to the Financial Statements for the Year Ended 31 December 2024 unstcd Total Funds Fund5 2024 Total Funds 2023 Incotne from listed inNr5tTfLellt5 Interest receivable 2.787 2,241 2.787 2,241 2,615 1,055 5,028 5.028 3,670 Ineorning resourre5 from charitable 4rtivitie5 UnrtStrltt¢d Tot*1 Fund$ Totsl Fund$ Fund5 2024 2023 Soelal housing letting CoDttibutions 46,507 46.507 44,343 Tota] resoutYe5 expend¢d So¢i41 houskng letting Totsl Dlreot eostS seryce c05t$ Routinc nltenanCe Mana8ement Costs tkprtti81ion of t8n8Èble f]xed assets 4.620 45,491 6,127 2,009 58,247 4.620 45.491 6.127 2.C()9 58,247 The number of housing ltS in management at th¢ end of 2024 wa$ 9 (2023 9). Th¢ av¢iag¢ week]y ¢ontribution on assured tenancies was £99.37 Q023 - £94.75). Trnstees reDwneration and eipenses No trLeS received a[ rernuneration dU[g the y. Pa8e 9
Tewkesbury Almshouse Trust Notes to the Finaneial Statements for the Year Ended 31 Decembei. 2024 .. ¢0171iKued r4et (frvtgoing)linthming resourtts Net (oulgoiWlincorn]n8 resources 1$ ststed aftcr charging.. 2024 2023 ]kptrciatiotL of oMryJtyJ assets 2,(K)9 2.009 Employtts, reDtratIOn The average numt*r ol'persons employed by the ¢han"ry durn the year as lollows.. 2024 2023 No. Otte staff No peA%ion ¢ontributions were paid on Ixhdf of employees during the year. Ernployee ¢tssts are included as Fx7rt of management eXnditUre within operating costs. Pag¢ 10
Tewkesbury AInhoUse Trust Notes to the Financial Statements for the Year Ended 31 Decembei. 2024 - LVP71inued Tangible fixed AssetB Houskng A$soc5tl&n GrAnt Frtthold bulldlng$ Tot#1 Cost or Valuation at l January 2024 and 31 December 2024 238.753 (151.710) 87.043 Depreriation As at l January 2024 Charge for the y¢ar As at 31 Dwember 2024 77,108 2.009 79.117 77.108 2.009 79,117 Net book value As at 31 De¢ember 2024 s at 31 Dwembei 2023 159,636 161.645 (151,710) (151.710) 7.926 9,935 Inve5hneDts hdd as ed a55ets Unli$t¢d investment Market value As at l January 2024 Revaluation As ai 31 De¢emlr 2024 97,130 3,748 100,878 Net book value As at 31 December 2024 As at 3 1 DrKcmb6r 2023 100,878 97,130 l investsn¢nt assets were held in th¢ UK. 111 Debttsts 2024 2023 Pryymenls and accnjed income 2,545 617 Page 11
Tewkesbury Almshouse Trnst Notes to the Financial Statements for the Year Ended 31 December 2024 . eorilimmed 11 Creditors: AmouMtJ falllng du¢ within on¢year 2024 21113 Accruals and deferred Iorne 575 1,235 12 Related p*rtle$ Contrnlling entity The Gharity is controllrd by the trustees. 13 Analy515 of fund$ Other UnrecolS£d At31 Dec¢mb¢r 2024 At l January 2024 Resources r¢sour¢e$ Cenetxl Funds Kevenue reserve Revaluation r¢5¢Tve 220,345 34.947 255,292 51.535 (58.247) 213,633 38,695 2)2.328 3.748 3.748 51,535 (58.247) Pa8e 12