Charity number. 203943 READING DISPENSARY TRUST UNAUDITED TRUSTEES. REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024
READING DISPENSARY TRUST CONTENTS Page Reference and administrative details of the charity, its Twstees and advisers Trnstees. rèport and sources of applications Independent exarninerfs report ststernent of financial activities Balance sheet Statèmnt of cash flows Note5 to the financial staternents 10-20
READING DISPENSARY TRUST REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY. ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 DECEMBER 2024 Trustws Mr D Horne, Chalr Mrs J Turton Mrs M Vale Mr Steven Pollard Mr¥ C Bennett {resigned 16 September 20241 Mrs A Ballard, Vice Chair Cllr. R Williams, Nominative Trustee Reading Borough Council Mr Mark Hallett, Treasurer Mr JeTemy Moreton, Vicè Chair ally Utung {appointed 9 May 2024) Charity reglstsrod number 203943 Prlnclpal office 16 Wokingham Road Reading erkshlre FG6 1JQ M8 M 08boTne S•crntsry A¢counlants James Cowper Kteston Chartered Account8nt8 Reading 8ridge House George Street Reading 8erkshiTe FPG1 8LS Bankarn Lloyds 8ank plc 25 Broad Street Reading RG12BT Stockbrokers Redmayne Benley LLP Market Pl8¢e Hou8tr 43 Market Place Henley-on-Thame8 RG9 2A4 Insurance Brokors Marsh Commercial Ca$tleme&d Lower Caslle Street Bristol BSI 3AG Page 1
READING DISPENSARY IrRUST TRUSTEES. REPORT FOR THE YEAR ENDED 31 DECEMBER 2024 The Trustees present their Annual Report together th tha unaudited financial statements of Reading Dispensary Trust for the year ended 31 DeGembef 2024. The Trustees confirm that the Annual Report and the financial statements of the charity Comply with the current StstOry requirements, the requirements of the governing document, the Charities Act 2011, the Statement of Recommended Practice appli¢able to charities preparing their accounts in accordance with the Finandal Rtrporting standard applicable in the UK and Republic of Ireland IFRS 102) (effective l January 20151. Objectives and octivitigs for the public benefrt The public benefft from the TTU$t's activities is substanllal, the guidelines lald down by the Constftutlon. Grants are given for equipment and services not available through statutory sources to those suffering from phl¢al and mental illness or disability, living within a seven-mile radius of the centre of Reading. Applications are received via caring organi8ations, charities, local councils, NHS departments. Citizens Advice, departments of Reading Borough Council. amongst others. A list of sources of appllc8tion8 is attached. Grant-making pollcy Applications are very vaded, ranglng from mobility trikes and deep Cleaning to household itemB such as frfdge8, washing machiries and flooring. AJI applications require compliance wth the objects of the ChaTity for a grant lo be awarded. Applicatlons are assessed on a monthly basis by a sub-committee of three members of the Trust. Since April 2020 these monthty meetings have tsken placo via Zoom. Full board meetings, which tske place quarterfy, are conducted face-to-face. Recentty the Trust has been receivlng urgent requests and they have been dealt with ouknth the monthly meetlnas. Any applications over £600.00 are tsken to the quarterfy full board meeting for approval. In 2023, Tru8tee8 a180 took the deoision to ask appllcants to con81der requeslng white goods whlch are more 8nergy efficient than the base models and are therefore more expensive. Tru8tee8 are to con8ider raislng tho ndlng level again al the next AGM in Aprll 2025. A¢hiev&ment and performance revlew During the financial year 78 grants were made to individuals, vAlh ts¥o being declined 12023 - 49 grants). Two organisations ie¢eived grants, totalling £1,400. Grants to Individuals lotolled £32,4781£18,164.04 in 20231 wlth the average individual grant being £419.841£370.69 in 20231. Awards ranged from £1,050 for part fijnding of mobility trike for a child shared with Wokingham United Charitses, to Iwo fans {£60.001 for a dlent whose small one bedroom flal inhabited by one adult and tsvo children, was too hot. In 2024 the Trust shared five grants with Berkshire Nurses in Sickne88 and Relief, compared to none in 2023, 1 in 2022 and 4 in 2021. The shared awards amounted to £7,130.00. The shared awards were for the,followng,' vlnyl flooring. garden ¢learan¢e,' deep deaning; house removal., carpet. The three organisation8 whld) have submitted th& most requests are.. Readlng Borough Councll 30 {17 in 2023), Launchpad 18 (3 in 20231 and Communicare 6111 in 2023). Unlike 2022, where we Saw a doubling of applications from Social Pres¢riber8 from 7 to 14, and a drop to 5 in 2023, in 2024 the number rose again to 7 and covèred h0ClIUral therapy to phone screens and Readipop sessions. In the past, every October the TFUSt declded if remaining income allowed them to make grants to local organisations. However since 2020 and the pandemic, Ihe Trust has adopted a more flexible approach and if requested before October can respond to organisational requests in a timely fashir)n. In 2024, organisations requested organisational grants.. Me2 youth dub which runs a¢tivities for disabled children and who needed support for volunteer training and Reading Famlly approached the Trust in ju to ask if they would consider supporting a summer outing for the children with whom they are as60ciated. Me2 was awarded £800.00 and Reading Family £600.00. BuildiTrg Developments Followng a decision to retain and redevelop the office takeh at an extraordlnary general meeting held in December 2022, the trustees agreed that the chair should pursue the redevelopment by enlisting an afchite and surveyor to assist with this process. In 2023 the Truslees considered the redevelopment from all angles, Page 2
READING DISPENSARY TRUST TRUSTEES, REPORT ICONTINUEDI FOR THE YEAR ENDED 31 DECEMBER 2024 cluding the addrtton of an extra storey to maximize potsnlial rental income and decided that the office should be redeveloped to comply th th"sability legislation. In 2024, Planning Consent was secured. The archite has received tsyo tender5 for the building work and a sub-committee has now been fomied to steer the project forward and to try to secure a third quote. Financial Review The source of income fr)r the Trust is from its inveslments. this incowne has to cover both the running costs and grant-making activities. During the ytsar under review administration costs were kept under control and income compared well th previous years. At the year end £1,505,03712023.. £1,483.2471 of reserves were held. Investment Policy The charity has an End0rIen1 and General Fund and under its goveming documents can use all its income froFn both funth in achieving its charitable objectives. As such it is important that the Charity maintains the value of its investments in real terms and that income increases. Therefore the Charity is a long term investor and the investment objecfive is a balanced rern from ineome and from capital growih. Investments are ¥nanaged t>y professional stockbrokers, but 811 deasions as to purchase and sale are made by the trustees. after considering appropriate advice. Risk Management The principal r65ks faced by the Trust lie in the performance of investments and the capacity of the Trust to make effective grants. Suitable insurance is maintained in respect of the Charity's propety. ReseNes Policy The trustees Consider that the ineome received is suffi¢ient to fvnd the payment ol grants and administrative expenditure. The trustees consider that the cash at bank and monies held on deposit represent working capital available for such expenditure and contingencies. stFucknre, governance and management The Trust is a reuistsred charity. numbw 203943 and is constibjted under Scheme of the Commissioners dated 31 December 1975. New trustees are appointsd by the existing trustses and seNe for 5 years after which they may put theelVeS forward for re-appointment. The scheme provides for a maximum of 14 Trustees, one of Nyhom is a Nominative Trustee appointed by Reading Borough coun1. The trustses meet quarteTly to ths¢us$ Ihe 8¢tivtiies of the Trust and to approve any grant applications exceeding £600.00. The day-to-day administrats.on of the trust is undertaken by the clerk, who is employed part-time. Key Management The tn¢stees consider the boaid of trustees and the clerk as the key management personnel of the charity in charge of directing and controlling the charity and Tunning the charity on a day-to-day basis. All trustees give their time freely and no trustee remuneration paid in the year. Trustees, responsibilities in Relation to the Financial Statements The trustees are responsible for keeping proper accounting Tecords that disclose reasonable accuracy at any ts"Fne the finan¢ial position of the charity and to enable them to ensure that the financial statements compty th the Charities Acl 2011, the applicable Charbties {Accounts and reports) regulations, and the provisions of the governing doeument. They are also responsible for safeguarding the assels of the charity and taktng leasonable steps for the prevention and detection of fraud and other iThegularilies. Page 3
READING DISPENSARY TRUST TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 SOURCES OF INDMDUAL APPLICATIONS 2024 BERKSHIRE VISION 1 CITIZENS, ADVICE 1 COMMUNICARE 6 FAMILY AID 1 GP SOCIAL PRESCRIBER 1 LAUNCHPAD 18 MENCAP 3 READING SOCIAL SERVICES Adult Social Care 3 Housing Support 14 Social Incluslon 13 RVA SOCIAL PRESCR18ERS 7 TRANSFORM HOUSING 2 UNIVERSITY OF READING MEDICAL PRACTICE 3 WEST BERKS PHYSIO 1 WEST BERKS SENSORY UNIT 1 WOKINGHAM UNITED CHARITIES 1 WOMEN IN PRISON 1 WOKINGHAM MENTAL H&4LTH CARE TRUST 1 GRANTS TO ORGANISATIONS 2024 Me2 youth club Reading Faimily AID Training Outing £800.1)0 £600.00 Awards to Individuals 2024 Washing Machines 1 S FNdge Freezers 9 Beds and Mattresses 8 Fumlture (Wardrobes, tables and chairs. chest of draws) 6 Cookers 3 Skip 2 Moving costs 2 Page 4
READING DISPENSARY TRUST TRUSTEES. REPORT ICONTINUEDI FOR THE YEAR ENDED 31 DECEMBER 2024 Oven 2 HortluJu1al therapy 3 CaetsIFI0orin9 6 Sofa bed 2 Sofa 2 Deep deaning 1 Tumble dryers 1 Mobility trike I Clothes 1 Airfyer 1 Gardem landscaping 1 Ffionetscreèn 1 Saucepans 1 Vacuum Cleaner 1 Garden clearance 1 Bicycle and lo¢k 1 Sewing le580ns 1 Room fans I ADple watch 1 Microwave 1 Readipop sessions I Door 1 Approved by order of the members of the board of Trustees and signed on their behalf by= Mr D Home Chair Date= 8 April 2025 Page S
READING DISPENSARY TRUST INDEPENDENT EXAMINER'S REPORT FOR THE YEAR ENDED 31 DECEMBER 2024 Independenl Examingrfs Report to the Trustees of Reading Di$p•nsary Trust {Ihe charit*) I report to the charity Trustees on my examination ofthe accounts of the Gharity for the year ended 31 December 2024. Responsibilities and Basls of Report As the Trustees of the charlty you are responsible for the prop8ration of the accounts in accordance the requirements of the Charities Act 2011 Ilhe 2011 ACY). I report in respect of my examin8tion of the charfty8 accounts carried out under section 145 of the 2011 Act and in carry¢ng out my examinaOn I have followed the appllcable Direclion$ given by the Charity Commission under Section 145{5)Ibl of the 2011 Act. Ind•pendgnt Examinerfs Stalement Your attenllon18 drawn to the fact that the charity ha8 prepared the accounts in ac¢ordance with Accounting and Reporting by Charities.. Statement of Recommended Practice appllcable to charitie5 preparing their accounts in accordance wth the Financial Reporting Standard applicable in the UK end Republic of Ireland IFRS 1021 in PTefeTen¢e lo the Accounting and Reporting by Charities.. Ststement of Recommended Pracllce i88ued on 1 April 2005 which18 referred to in the extant regulation8 but ha8 been wthdrawn. l understand that this has been done in order for the accounts to provide a true and fair view in acrdanCe with the Generalty Accepted A¢¢ounting PractlGe effective fof reporting period8 beginning on or after l January 2015. I have completed my examination. I conffirm that no matters have com& to my attention In connedon vhth the examination giving me cau8e to believe that in any materlal re8PeCt'. ao¢ounting record8 were not kept In respect ofthe Charlty a8 required by secdon 130 of the 2011 Acl., or the accounts do not o¢oord with those re¢ord8', or the accounts do not comply wlth the applicable requirements concerning the form and content of accounts set out in the Chaiile8 {Accounts and Reports) RegUlaon$ 2008 other thon any requirement that the accounts give a 'true and fair. view %thich 18 not 8 matter considered as part of an Independent examination. I have no concern5 and have come across no other m8tters In connection 1th the examination to which attention should be drawn in thi8 report in order to enable a propèr understandlng of the accounts lo be reached. Th18 report 18 made solely to the charity's Tru8te&s, as a body, in accordance Yth Part 4 of the Charities (Accounts and Reports) Regulations 2008. My work has been undertaken so that I might stste lo the charitys Trustees those matteTS l am required to stale to them in an Independent examiner's report and for no obher purpose. To the fvllest extent permitted by law, I do not accept or assume responsibility to anyone other than the charity and the tharity's Trustees as a body, for my WOTk or for thi8 report. Signed: • Darren O'connor Bsc {Honsl FCCA AGA Datsd.. 22 April 2025 Jarnes Cowper Kreston Chartered Accountants Reading Bridge House George Street Reading Berkshire RG1 8LS Page 6
READING DISPENSARY TRUST STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2024 Endovnnent Unrestricted funds funds 2024 2024 Totsl funds 2024 Totsl funds 2023 Note Income and endowrnents from: Investments 58.406 47,313 Total incorne and endowments 58,406 47,313 Expenditur¢ on: Raising funds Charitable actNities 6,135 62.498 6,135 62A98 6,302 35,529 Total expenditure 58.633 58,633 41,831 Net 1èxpend1reI1lnC0m* bèfore net gains1{10s5esl (th investmènts Net gainslllosses) on investments {227) (11,2651 {2271 22,017 5.482 625 33,282 Net incomel{èxpgnditurel Transfeis between fund$ 33,282 129) 111.492} 29 21.790 6,107 13 Net movement fvnds 33253 111.463) 21.790 6,107 Reconciliation of funds: Total funds brought fr)rward Net movemerrt in funds 752,914 33,253 730,333 {11.4631 1,483.247 21.790 1,477,140 6,107 Total fund$ carried lorward 786,167 718.870 1.505.037 1,483,247 The Statement of Financial Activilles indudes all gains and losses recognised in the year. The notès on pages 10 to 20 form part of these financÉal statements. Page 7
READING DISPENSARY TRUST BALANCE SHEET AS AT 31 DECEMBER 2024 2024 2023 Note Fixed assets Tangible assets Investments 75.000 1,251,905 75,000 1,230,723 1,326.905 1,305,723 Currenl assets Debtors Cash at bank and in hand 4,180 176,942 179,950 181.122 179,950 Other creditors 12 (2.990> 12.4261 Net cuThent assets 178,132 177,524 Total assets less current liabilities 1.505,037 1,483,247 Total net assets 1.505,037 1,483,247 Charityfunds Endowment funds Unrestri¢tsd fvnds 13 13 786,167 718.870 752,914 730,333 Total funds 1.505.037 1.483,247 The financial statements were approved and authorised for issue by the Trustees and signed on their behalf by.. Mr D Horne Chair Date.. 8 April 2025 The notes on pages 10 to 20 form part of these financial statements. Page 8
READING DISPENSARY TRUST STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 DECEMBER 2024 2024 2023 Note Cash flows from operating activities Net cash u8èd in operating activlties 15 (7T42) 140,7411 Dividends, interests and rents from investments Purchase of investments 58.406 164.407) 74,835 47,313 130,0601 1 $0,549 Proceeds from sale of investments Net cash provid•d by investing activbties 68,834 167002 Change In ca#h and Cash •qufvalents In tho year Ca8h and c88h equivalents at the beginning of the year (3,0081 179,900 127,061 52,889 Cash and cash equival•nls al Ihe •nd of tho year 18 176,942 179.gso The notes on pagè8 10 10 20 lomi part of the88 financl41 statem•nl8 Pagtr 9
READING DISPENSARY TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 Accounling policie$ 1.1 Basis of preparation of finan¢ial ststemonl$ The financial statements have been prepared in accordance vAth the Charities SORP IFRS 1021- Accounting and Reptsng by Chariknes.. Statement of Recommended Practice applicable lo charities prepartng their accounts in accordan¢e with the Financial Reporling Standard applicable in the UK and Republic of Ireland {FRS 102) (effective 1 January 20191, the Flnancial Reporling Stsndafd applicable in Ihe UK and Republic of Ireland (FRS 102) and the Charities Acl 2011. Reading Di8pensary TTUSt meets the de)Initlon of a public beneffit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherw8e 8tated in the relevant accounting pollcy. 12 In¢ome All income 1$ recognS8ed once the charlty has entiuernent to the income, It 18 proboble that the Income 11 be re¢eiv¢d and the amount of incomè re¢&lv8ble cen be meosured rellably. Income tsx recoverable In relation to Inveslmenl In¢ome Is re¢ogni$ed at the tlme the investment income is recelvable. 12 Incomlng rnsourcei wlth r•latsd expend1r• Where incoming resources have related expenditure the Incoming reBource8 and related expendlture are reported groBS in the Ststement of Financial Activities. 1.4 Expondbtyre Expenditurels recognlsed once ther&18 a legal or constrLtctive obligation to transfer e¢onomic benefit to a third party. it Is probablg that a transfer of economlc beneffits will be requlred in 8etUement and the amount of the obligation can be m&a$ured reliably. Expenditure is ¢la88iffied by activity. The costs of each activity are made up of the totsl of direct ¢08ts and shared costs, Including support costs Involved in undertakirbg each activity. Direct e08ts attributsble to a slngle activity are allocated direcdy to that activlty. Shared costs whi¢h contribute lo more than one activty and support costs which are not attributable to a slngle activity are apporlloned beleen those activities on a basis consistent wlth the use of resources. Central staff costs are allocated on the basis of time spent, and depreclation charges allocated on the portion of the a88ef8 Use. Expendlture on raising funds includes all expenditure incurred by the charity lo raise fijnds for Its charitable purposes and indude8 ¢08ts of all fundraising activiti&s events and non-charltable trading. Grants poyable are charged in the year when the offer is made except in those cases ere the offer is conditional, such grants being recognised as expendf(ure when the conditions attaching are fulffilled. Grants offered 8ubjert to condrtions whlch havo not been met at the year end are noted as a mmitment, but not accrued as expenditure. 1.S Interest receivablo Interest on funds held on deposit is included vthen receivable and the amount can be measured reliably by the charity,. this is normally upon notifficatlon of the interest paid or payable by the institution th whom the tunds are deposited. Page 10
READING DISPENSARY TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 Accounting polici85 Icontinued) 1.6 Tangibk Ted asset5 and depreciation Tangible fixed assets are inittally recognised at cost. After recognibon, under the co¥1 model, tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment 108se8. Al costs incurTed to bring a tangible fixed 8s8et into its intended working condition should bè Included in Ihe measurement of cost. Depreciation is chargsd 80 a8 to allocate the cost of tangible fixed assets les8 thek re8ldual value over their estimated usefvl lfves, uslng the $traight-Ilne method. Deprtclatlon18 provided on the folloing ba$e8.' Freehold property Office èquipment Not depreclated 20Qh straight line 1.7 Investments Flxed a88et Inve8lments are a form of finandal In8trument and are Initially recognised at thelr transactlon cost and subsequenuy measured at fair value 81 the Balance sheet date, unless the value cannot be measureil reliably in vA)Ich case it18 measured at cost less impairment. Investment gains and losses, whether realis8d or unreali8ed. are combined and presented as 'Galnsl(Lossesl on Investments, In the Ststement of financial actlvitse8. 1.8 D8btors Trade and other debtors afe recwi6ed at the settlement amount after any trade dl8count offered. Prepayments are valued at the amount prepald nèt of any trade discounts due. 1.9 Cash at bank and in hand Cash at bank and In hond include8 cash and 8hort-term highly liquid Investments vAth a short marity of three months or le88 from the date of 8QqLbi8ibon or openlng ol the dep0811 or Similar account. 1.10 Liabilities and provl•ions Liabilltle8 are recognised when there is an obligation at the Balance sheet date 08 a fesum of a pa8t event, It Is probable that a trarb5feT of economic benellt VAII be required in settlement. and the amount of the settlement can be estimated reliably. Liabillties are re¢ognlsed at the amount that the charity anlldp8te8 It pay to Settte the debt or the amount it ha8 received as advanced payments for the goods or services it must provide. 1.11 Flnancial instrumènts The charfty only has financial assets and financial liabilthes of a klnd that qualify as basic financial instNments. Basic flnonaal instruments are ir5itially recognised at transaction value and 5ubsequentty measured at their sethement value wth the exception of barbk loan8 Vhich are sub5equenlly measured at amortised cost using the effective interest method. 1.12 Fund accounting General funds are unrestricted fijnds which are available for use at the discretion of the Trustees in ffijrtherance of the general objectives of the charity and which have not been designated for other purposes. Investment income, gains and losses are allocated to Ihe appropriate fijnd. Page 11
READING DISPENSARY TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 Accounting polici (continued 1.13 0oveman¢• costs Govemance costs include the costs for the preparation and examination ofthe stslutory accounts. 1.14 Property Propeity is not depTeciated as it is included in the ffinan¢ial stabnents at open market value. The propeity is subject to a professional valuation every five yeaTS and in the Interveing years the valuation is based on the opinion of the tru8te88. Critical accountlng estimates and areas of Judgment Estimates and judgments are continually evaluoted and are based on historical experience and other fgctors, including expectations of futrjre events that are believed to be reasonable under the circumstances. CTltical accounting eslimates and a8sumption8.' The charity make8 eStlmate$ 8nd assumptions concemlng the fijbjre. The re8ultlng accountlng e$Omgtg8 and assumptions 11. by definition, s8ldom equ81 the related actual results. Investment income Unr•strlct•d fund$ 2024 Total funds 2024 Total fiJnd¥ 2023 Dividends and Intere81 56,194 2,212 66,194 2,212 47,096 217 Bank interest 58,406 47,313 Totsl 2023 47,313 47,313 Page 12
READING DISPENSARY TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 Expenditure on raising funds Unreslricted funds 2024 Totsi funds 2024 Total fvnd5 2023 Investment management fees 6,135 6,135 6,302 Totsl 2023 6,302 6.302 Analysis of grants Grants lo Organi5ations 2024 Grants to Individuals 2024 Totsl funds 2024 Tota funds 2023 Grants paid 1,400 32.478 33,878 20,559 Total 2023 600 19,959 20,559 Analysis of expendilure by acti¥hie$ Activities undertaken directly 2024 Grant funding of activities 2024 Total funds 2024 Total nds 2023 Direct costs Grants paid 18.620 18.620 33,878 14.970 20.559 33.878 18.620 33.878 52.498 35.529 Totsl 2023 14,970 20,559 35,529 Page 13
READING DISPENSARY TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 Analysis of expendir by activities (continued} Analy51$ of direct costs Total funds 2024 Total funds 2023 Activiti•s 2024 Wages and salaries Office running costs Property costs Professional fees Insurance Hall hlre 8.239 8,239 7,820 488 1.514 4,517 411 2,859 6,969 412 141 2,859 6.969 412 141 220 18,620 18,620 14,970 Total 2023 14,970 14,970 Ind?Thdent exominef$ remunerntlon 2024 2023 Fees payable to the charlV8 Independent examlner for the independent examirbation of the oharitys annual accounts 2,628 2,310 Stsff costs 2024 2023 Wages and salaries 8.239 7,820 The average number of persons employed by the oharty during the year was as follov+E'. 2024 No. 2023 No employee received remuneration amounting to more than £60,000 in either year. Page 14
READING DISPENSARY TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 Tangible fixed as5et$ Fraehold property equipment Total Cost or valuation At 1 January 2024 75,000 1,260 76,260 At 31 December 2024 75,000 1,260 76,260 Depreciation At 1 January 2024 1,260 1,260 At 31 December 2024 1,260 1,260 Net book value At 31 December 2024 75,000 75,000 At 31 December 2023 75,000 75,000 The property at 16 Wokingham Road was revalued at £75,000 on 6 March 2019 by a local estate agent taking into consideration local property market values. The trustees are in agreement with the above valuation. The trustees do not believe the market value changed materialty belween 6 March 2019 and 31 December 2024. Page 15
READING DISPENSARY TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 10. Fixed asset inve51ments Listed investments Cost or valualion Al 1 January 2024 Additions Di8PO881$ Revaluations 1.230.723 64.407 174.8351 31,610 At 31 December 2024 1,261,905 Not book value At 31 December 2024 1,261,905 At 31 Decemb&r 2023 1,230,723 Material investments Investments held whleh con8titule 5% or more of the total value are 48 follow8.. 2024 2023 Aberdtren Asian In¢ome Fund Allianz Technology Trust CCLA Investment Management Ltd- Inve8tment Income BNY Mellon Fund Managers Limited M & G Investment Fund for Charities 82,600 70,602 1ffj8.080 76,891 123,137 78,000 154,592 73,466 167,374 11. Dgbtors 2024 2023 Due within one year Prepayments and accrued income 4,180 4,180 Page 16
READING DISPENSARY TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENOED 31 DECEMBER 2024 12. Creditors: Amounts falling due within one year 2024 2023 Other creditors 2,990 2,426 Page 17
READING DISPENSARY TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 13. Statement of funds ststèment ot funds - current year Balance at 31 December 2024 Balance at 1 January 2024 Transfers inlout Gainsl Losses) Income Expendiiure UnrestTiCted funds General Funds- all funds 730.333 58,406 (58,633) 29 (11.265) 718,870 Endowment funds Endowmenl Funds - all funds 752,914 1291 33,282 786,167 Total of funds 1,483,247 58.406 158,633) 22.017 1,505,037 StalemÈnt of funds - prior year Balance at 31 Balance at 1 January 2023 Transfers inlout Gainsl {Losses) December 2023 Income ExpenditUTe Unrestricted funds General Funds - all ftjnds 693,729 47,313 (41,831) 24.785 6,337 730.333 Endowment fvnds Endowment Funds- all fijnds 783,411 124,785) (5.7121 752,914 Total of funds 1,477.140 47,313 141,8311 625 1,483,247 Page 18
READING DISPENSARY TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 14. An8tysis of net assets belween funds Anatysis of n•t assels between funds - TTent perlod Endowment Unrestricted funds funds 2024 2024 TOL71 funds 2024 Tangible fved assets Fixed asset investments Current assets Creditors due thin one year 75.0001 711,167 75,000 1251,905 181.122 12.9901 540,738 181,122 12,9901 Totsl 786,167 718,870 1,505,037 Analysis of net as5et5 belween funds - prior period Endowment Unrestricted funds fvnd5 2023 2023 Totsl nds 2023 Tangible frxed assets Fixed asset investments Current assets Creditors due wthin one year 75,000 677,914 75,000 1,230,723 179,950 (2.4261 552,809 179,950 {2,4261 Total 752.914 730,333 1,483,247 15. Reconciliation ol net movement in funds to net cash flow from 0ratIng activi¢ie$ 2024 2023 Net income for the period {as per Statement of Financial Activities) 21,790 6,107 Adjustments for: Losses on investments (31.6101 158.4061 {4,1801 (2351 147.3131 Dividends, interests and rents from investments Increase in debtors Increase in ¢reditors 700 Net cash used in operating activitie5 171.842> (40,741) Page19
READING DISPENSARY TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 16. Analysis of cash and cash equivalents 2024 2023 ash in hand 176,942 179,950 Total cash and ¢8sh equivalents 176,942 179,950 17. Analysls of Changes in net debt At1 January 2024 Cash flows At31 De¢ombèr 2024 Cash at bank and in hand 179,960 13,0081 176,942 179.960 (3,0081 176,942 18. Rèlated party tr4n8action¥ During the year, no Tru8tee8 received any remuneralon or other bonefit612023.' £nll). During the year, no Trustee expense8 have been in¢urred12023.. £nll). 19. Endowmont (Capital Fund) This represents those assets which must be held permanently by the charity. principally invesknents. Income arising can be used. in accordance the objects of the charity, and is included as unre8trfcte(J income. Any Capital gains or losses aTl8lng on the investments form part of the fvnd. Unreslri¢t9d fund (Accumulat In¢om• Fund) This comprises th08e fvnds vthich the trustees are free to use in accordance wilh the charitable objective8. Page 20