Charity numbgr. 204718 THE PEARN ALMSHOUSES CHARITY UNAUDrrED TRUSTEES. REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 Bishop Fleming
THE PEARN ALMSHOUSES CHARrry CONTENTS Page Refeygnce and Adminlstrativ• Detalh of th• Charity. tts Tru¥tw and Advig•TS Trust. Report Indapgndent ExaMi¢S Report statem•nt of Financial Activities Balan¢9 Shegt Notes to the Finaficial Statements 9-18
THE PEARN ALMSHOUSES CHARtrY REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARiff. TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 MARCH 2024 Trustees Mrs M S Clinton. Chair Mrs P M SIart Mr T N Shobrook MS C H Bailey Dr R G Benjafield (ApW"n 25 April 20231 Charity registered number 204718 Principal offi¢& 81D Hher Corrwn Road Lower Compton Plymouth PL3 Accountants Bishop Fleming LLP Chartered Ar£ountants Salt Quay House 4 North East Quay Sutton Hortx)ur Ptymouth PL4 OBN Bankè Uoyds TSB Bank Pk 8 Royal Parade Ptymouth Devon PL1 IDS CCLA Intrent Management L COIF Charity Funds One Angel Lane London EC4R 3AB Soli¢ltor8 FootAnstey LLP Salt Quay House 4 North East auay Sutton Harbour Plymouth Devon PL4 OBN Page I
THE PEARN ALMSHOUSES CHARITY TRUSTEES REPORT FOR THE YEAR ENDED 31 MARCH 2024 The Trustees present their annual rep)rt togettw with the financial statements of the Charity for 1 April 2023 to 31 March 2024. OBJECTIVES AND ACTivmES a. POLICIES AND OWECTIVES The principal objective of the Charity is to provide shelter&l accommo for poor persons of not less than sixty years of age who are inhabrtants of the city of Plymcojlh. except in Special cases to be approved by the commissioners. The Tfustees have agreed that the definibon of'pcKJf does not necessarity refer solely to financial means but may indude wider consideTrtions suth as health and the ability to conts.nue to occupy safely exsttng accommodation, which is increasingly owner ctcupied and not aRy5 suikble fr)r the ekjerfy. b. MAIN ACTMTIES UNDERTAKEN TO FURTHER THE CHARrrrs PURPOSES FOR PUBLIC BENEFIT The Trustees have had regwd to the Charity ComMissi),S guidan on public tnefiL The Challty provide5 secure and suitable a¢commLKlation for ekleriy persons indLKling fvll maintenance internally and extemally WE provision of all relevant servi. Resident5 are taken from the general publ in the Ptymouth area in accordan with Ihe Charity's ¢cstitution. The Trusts are mindful of their duty to WOVKle a teclaI SeThi and frdciltty, recognised as being for the public good. Accordingly. and tearing in mind the requirements of our objects. gc¥)d quality secure accommodation al a fair wce is on offer to desemng appltcants. Care is tsken to establish e$ting resources, both income and rnpital, stats of health, and suitabilty of present accommodth"on. As a gen rule, once have seltled in Reswjents Temgin in their prwety for some years. ACHIEVEMENTS AND PERFORMANCE . KEY FINANCIAL PERFORMANCE INDICATORS Prime importance to the Charity is tr) have a minwnum of voids (empty pfoFertJ"esl and for the year ending 31st March 2024 occupancy rates were 100%. Ix INVESTMENT POUCY AND PERFORIIANCE The Charity's investsnenb are managed by CCL4 Investrnent Management Ltd and are invested in the COIF Chaaties Investment Furnl. Suwus cash is deFQ5ited with CCL
THE PEARN ALMSHOUSES CHARrrY TRUSTEES REPORT ICONTINUEDI FOR THE YEAR ENDED 31 MARCH 2023 FINANCIAL REVIEW a. GOING CONCERN After rnaking appropriate enquir. the Trustees have a reasonable expectation that the Charity has adequate resources to continue in operational Sten for the foreseeable future. For this reason they continue lo adopt the going concem basis in preparing the financial statements. Further details regarding the adoption of the going concem basis can be found in the Accounting Policies. REVIEW FOR THE YEAR Whenever a unit is empty the oppothnity is taken to modemise it up to strdrKlard and dunng the year the Trustees have undertaken to modemise factlibes for the benefit of the residents inclLxling kitchen. bathroom, lighting and heating upgrades as well as normal decor"ng costs. The Trustees are concemed to provide high qualty accoMMLNJatn for our Residents at an acceptable cosL Accotdingly, the charge to Residents is set annually takn.ng account of the f"[ rent of the accomm¢)dab"on 1 an addition to cover costs met by the ChaTty. The Trustees are satisfi&J that the financial kJstbon of the Charity to date wll enable thern to continue to Tneet these obiectives. . RESERVES POLICY Unrestricted funds are available to meet the day to day costs associated the Charity's aims and lo meet comrnitments as they fall due. The baLln of unrestri¢tgJ fvnds * the year end amount to £727,940 {2023: £616,206). Permanent Endowment fijnds are available for caprlal purposes and are invegted in accumulabon units. There are kn funds both to recoup prewous capFtal investments. Endowment funds at the year end amount to £3,918.94512023". £3,856.5671. The Cottages rUprnent fijnd has 4)proL 41 years lo go befe our agreement with the Chanty Commission is satisfied. A statement of condition has been obtained al September 2021 which provides a good guide of the likely cost of repairs and maintenance over the next 5 years. The rnajor rtems which wiu need to be addressed at Hr. Compton - tsvo of the trio of propertieswere built in the 1930's are. Cyclical maintenan Krtchen 2nd bathroom modemisation And at the Cottrdgès are". Cyclical maintenance The eskn"m*ed cost of this at today's ICeS is in the OTder of £60,OLKI.
THE PEARN ALMSHOUSES CHARrrY TRUSTEES REPORT {copifiNUEDI FOR THE YEAR ENDED 31 MARCH 2023 STRUCTURE, GOVERNANCE AND MANAGEMENT . CONSTrruTION The official name of the ChaTtty is "Peam Almshouses-. It is lo(*ted at PIyTMuth in the County of Devon. A Certificate of lncorpoth.on of the Tnjstees of the Chanty by the name of 'The Trustees of the Peam Almshouses Charrtl. was seakd by Order of the Ccmnmissioners on 16 May 1994. There have been no changes in the obpciNes Since the L2st nUal reporL b. METHOD OF AppoIKfMENT OR ELECTION OF TRUSTEES The management of the Chanty is Ihe resFY)nsib"Elty of the Ttee5 are ele¢ted and COvQPted under the terns of the Charrty Cornmission Scherne. Trustees are appointed for a tem of five years by a Tesolution of the Trustees and as a TTUStee is appointed they must provide a declaration of acceptance and wllingness lo act. c. ORGANISATIONAL STRUCTURE AND DECISION MAKING In addition to the Truslees there is an employed Trust manag who is responsible for conducting day to day business and reporting to the Trustees. d. RISK MANAGEMENT The Trustees have assessed the mawr risks to which the Charity is exposed, in particular those related to the operations and finances of the Charity and are saUsfied that systems and predre5 are in pla lo mitigate our exposure to the major risks. This report was approved by the Trustees and signed on their behalf by: Mrs M S Clintt>n {Chair of Trustees) Paje 4
THE PEARN ALMSHOUSES CHARirf TRUSTEES REpoKf {COKnNUEDI FOR THE YEAR ENDED 31 MARCH 2023 STATEMENT OF TRUSTEES. RESPONSIBILMES The Trustees are resFMinsible for preparing the TrLE5tees' reF(>rt an(J the finarjaI statements in accordance th applicable taw arKI United Kingdom Acuuntir4J Stsr¥Jwds Iunsted Kingdom Generalty Accepted Accounts"ng Practice). The law applicable ID charibes in England & bwdtes requi the Tnjslees lo prepare financial statements for each financial year which give a tnje and fair view of the state of affairs of the Charity alld of its incoming resources and application of resources. induding its inccffle and exFenditrJre. for that peri. In preparing these financial statements. the Trustees are required to" select suitable accounting poliues and then apFAy them wnsL8tenty,' obsenie the methods and principles of the Charitres SORP IFRS 1(r2); make judgements and accounb'r¥J esty"males that are reasonable and prudent state whether appli(8ble UK Accounting Standards IFRS 1021 have been followed. subject lo any material departures disclosed and explained in the financial statements.. prepare the financial ststements on the wng COnM unless it is inappropriate to presume that th& Charity wll conts.nue in business. The Trustees are resPonb[e for keeping *uate aecounting ))rdS that are sufficient to show and ewain the Charity's transactions and disclose reasonab accuracy at any time the financial px)sition of the Charity and enable them to erisure that the financk31 statemenis compty the Charitie5 Act 2011, the Charity (Accounts and Reports) Reguktions 2008 and the prowsions of the Trust deed. They are also responsible for safeguanling the assets of the Charity WKI hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. This report was approved by Ihe TteS svJn&J on their behalf by: FOI-I pl IdlTS M S Clinton (Chair of Trustees) Date.. Page 5
THE PEARN ALMSHOUSES ¢HARrrY INDEPENDEbTh EXAMINER'S REPORT FOR THE YEAR ENDED 31 IAARCH 2024 INDEPENDENT EXAMINER'S REpoKf TO THE TRUSTEES OF THE PEARN ALMSHOUSES CHARITY ('tho Charity'l I report to Ihe Charrty Trustees on my examination of the axounts of the Charity for thè year ended 31 March 2024. RESPONSIBILMES AND BASIS OF REPORT As the Trustees of the Charity you afe responsible for the preparation of the accounts in accordance wth th8 requirements of the Ch8rÉtie5 AGt 2011 {Ihe 2011 Acri. I report in r&spect of my examination of tre Charitys accounts caffKed OLtt under section 145 of the 2011 Act and in carrying out my examInatn I have fotlowed the *tcabie Directions given by the Charity Commiss¥on under section 145151{b) of the 2011 A( INDEPENDENT EXAMINEifs STATEMEKr I have completed my examination. I confirm that no matters hwe come to my attention in conneciion with the examination giving rne use io beIve that in any material respect accounting records were not kept in res of the ch1 as requi1 by section 130 of the 2011 Art. or the accounts do not accord those records" or the accounts do not compty with the alCable requirements conceming the fomi end content of accounts set ¢yJt in the Chanties (Accounts and Reports} Regulakn"on5 2008 other than any requirement that the accounts give a 'tnJe and farf ViV•V which i8 not a matter conswjered as part of an independent examinatEOn. I have no 0)nrn5 and have o)me acfOSS no other matter5 in nnectIOn wth the examinatton lo which attention should be drawn in thks 4)rt in orderto enable a proper understat)ding of the acLounts to bè Rached. Signed: ison ofiv8r Date: 27 January 2025 (FCA) BISHOP FLEMING LLP Chartered Accountants Sall Quay House 4 North East Quay Sutton HariM)ur Pwouth PL4 OBN
THE PEARN ALMSHOUSES CHARrrY STATEMENT OF FINANCIAL ACTivmES FOR THE YEAR ENDED 31 MARCH 2024 Endowment Unrestricted fund$ funds 2024 2024 Total funds 2024 Totsl funds 2023 INCOME AND ENDOWMEi¥fs FROM: Investments Other income 192,930 191930 1.984 165,036 808 TOTAL INCOME AND ENDOWMEKrs EXPENDITURE ON: Charitable activities 194,914 194.914 165,844 139.688 139,688 178,1168 TOTAL EXPENDFfuRE 139.688 139.688 178.068 NET INCOMEI (EXPENDITURE) BEFORE NET GAINW (LOSSES) ON INVESTMENTS Net gainsl {lossesl on invesbnents 55.226 55,226 118.886 112,2241 121,902) 54.922 NET INCOMEI {EXPENDITURE} Ttynsfers between funds NET MOVEMENT IN FUNDS BEFORE OTHER RECOGNISED GAINSI (LOS5ES} 54.922 119,190 {7A561 174112 134,7261 14 61378 111.734 174.112 134,126) OTHER RECOGNISED GAINSI ILOSSESI- Gains on revaluation of fixed assets 449,000 NEf MOVEMENT IN FUNDS 82.378 111.734 174.112 414,874 RECONCIUATION OF FUNDS: Total fL¢nds brought forwaid Nel movement in fvnds 3,856.567 62.378 616,206 111,734 4.471773 174.112 4,057,899 414,874 TOTAL FUNDS CARRIED FORWARD 14 3.918,945 727,940 4.846.885 4,472,773 The Statement of Flnancial ACtwIt Èndudes all gains and knsses recognised in the year. The notss on pages 9 to 18 fom) part ofthese financial statements. Paye 7
THE PEARN ALMSHOUSES CHARITY BALANCE SHEEr AS AT 31 MARCH 2024 2024 2023 FIXED ASss Tangible assets Investments 3.313,047 1,075.584 10 11 3.312.393 1.201.926 4.514319 4.388,631 CURRENT ASSETS Debtor5 Cash at bank and in hand 12 175 87,663 137,994 137.994 87.838 Credttors". amounts falling due within one year 13 (5.428} 13.6*1 NET CURRENT ASSETS TOTAL ASSETS LESS CURRENT UABILITIES 131S66 84,142 4.646.885 4,472.773 TOTNL NET ASSErs 4,646,885 4.472.773 CHARrrf FUNDS 3,918.945 727.940 3.856.567 616,206 Endowment unrestn.cted funds 14 14 4,472.773 TOTAL FUNDS 4.646.865 The finanual 5tstements We approvgfj arKI authorised for issue by the Tnjstees and gned on the behalf by.. Mrs M S Cllnton (Chair of Trustees) lTr-O 1-7 The noles on pages 9 to 18 fomi part of these financkgl ststsments. Page 8
niE PEARN ALMSHOUSES CHARITY NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 GENERAL INFORMATION The unincorp)rated Charity is regtstered with Charity Commission. the registered number is 204718. The registered address ofthe Chanty is 81 D HNJher Compton Road. Lr Compton, poth, PL3 5JD. ACCOUNTING POUCIES 2.1 BASIS OF PREPARATION OF FINANCIAL STATEMEKrs The finan(aal statements h8ve b8en prepawj in aruxdan¢e with the CharItS SORP IFRS 102} - Accounb"ng and Reporting by Charibes: Statement of Rec£Jmmended Practice applicable lo charities preparing their accounts in accordan wrth the Finan(aal Reporting Standard applicable in the UK and Republi¢ of Ireland {FRS 102) lèffeth.ve 1 January 2015), the Financial Reporting Stsndard appli(able in the UK and Republic of Iretano {FRS 102} and the Charthes Act 2011. The Peam Almshouses Charity meets the definition of a public benefft entty under FRS 102. Assets and liabilities are initialty recognised at historscal cost or transactton value unth otherwise slated in the relevant accounting pKJly. 2.2 INCOME l in¢ome is rerA)gnised once the Charity has entttlement lo the income, tt is probable that the income wll be received and the amount of income receivable (an be m6asur&l reliably. Incomg lax recovetabte in relab.on to irNestmenl incorr is recognised at the time the investment income Tr5 reivable. 2.3 EXPENDITURE Expenditure is recognised once there is a legal or conslTUCtive obligation to transfer Èconomic benefft to a third party. tt is probable Ihal a transfer of economic beneffts w(11 be required in settlement and the amount of the obligat can be measured reliably. Expenditu is classitie(I by actsvity. The costs of eath #th"vty are ma(%e up of the total of direct costs and shar1 costs, including support costs involved in undertaking each Direct u)sts attributable to a single acttwty are all¢xaled directty to that actwity. Shared costs which contr.bvte to more than one activity and support costs which are not attributable lo a single a¢lNity are apw)rtioned beNveen those ath"vf(ies on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spen( arkd depreciation charges 811ocated on the porbon of the a&set's yse. Expendrture on charitable aciMt]es is incurred on diredty undertaking the athiti.es which further the Charitys oty'ectwes. a5 well as any associated supw)rt costs. AJI expendittsre s IndusE of IrrVer8eVAT. 2.4 INTEREST RECEIVABLE Interest on ftjnds held on desit is induded when receivable and the amount can be measured reliably by the Challty.. this is normalty upon notSfitiOn of the interest pakl or payable by the inslilulton with whn the fvnds are deF*)SttgJ. Page 9
THE PEARN ALMSHOUSES CHARrrY NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 AccouKnNG POLICIES (continuod) 2.5 TANGIBLE FLXED ASss AND DEPRECtATION Tangible fixed assets are hntslty reco9nised at cost After recoynthon, under the cost model. tangible fixed assets are measured at cost less a(£umulated depreciation and any accumulated impairment losses. Al costs incurred lo bring a langble fc<ed asset into ils intended wotking condition should be induded in the rneasut of (xjst The freehold propertss, onty, are initsally recognised at UJSL After r8cognthn, under the revaluatson model, tangible fixed assets whose fair value t2n be measured rdiably shall be carried at a revalued amounL ting their frJir value at the date of Valuation 8S any subsequent accumulated depreci8b.on and subsequent accumulated inpaiment105ses. Revaluations aTE made wilh suffiuerkt regularity to ensure that the Cang amount does not drffer materially from Ihat which would be determined using fair value at the end of the reporting dale. Fatr values are determined from maTkelased evidence ty appraisal that is nomally undertaken by professionally qLEalffied valuers. If there is no market-based eviden of fair value because of the speci81ised nature of the tangible fixed asset and it is ralY sokl, except a5 part of 8 ¢ontn"buting business. a Charity may need to esb.mate fair value using an inwne or deprted replacement cost approach. Gailis and losses on revakolion are recogni5ed in the Statement of Financial Ath8$. wÈih any gains or losses wng through the end(Pent lund in the Staternent offunds nots. DepTeciation is charged so as to alicote the cost of tangible fixed assets less their residu81 value ¢)ver their estimabj useful INes. Depteuation is proTr4Kled on the folirywiThJ bases: - ni)t depieck2led 10% straight line FhOld PTopety FiXre$ and frtknngs 2.6 INVESTMENTS Fixed asset investrrkènts are a fom of finanaal instrument and are initialty recognised at their transaction cost and subsequenuy WYWSUd at fairvalue at the Balan Sheet date, unless the value cannot be me8sured re1K4b in whth case rt is measured at ¢C6t less impaimient. Investment gains and 105ses, whether realised or unrealtsed. are cthibined and piesenled as 'GainfJlLo55es) on investments, in the Ststement of Financial AcbvitEs. 2.7 DEBTORS Trade and other debtors are recognised at the settlement amount 8fteT any trade discount offgred. Prepayments are valued at the amount prepaid ftel of any tr8de discounts due. 2.8 CASH AT BANK AND IN HAND Cash 8t bank and in hand indudes and short-term highty Iiqlthl invesbments with a short maturty of three month5 or less from the date of wuistin OT openin9 of the Ileposil or similar account 10
THE PEARN ALMSHOUSES CHARrrY NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 ACCOUNTING POUCIES {continuedl 2.9 LIABILITIES AND PROVISIONS Liabilrties are recognised when there is an oblvJation at the Balance Sheet date as a result of 8 past avent, rt is probable thal a transter of nOrn benefft will be requireil in sgWemenL and the amount of the setuemeftt can be estimated rdiabty. abilities are recognised at the amount that the Charity anbci)*es it wdl pay lo setde the dabl or the amount it has received as advanced payTnents for thg yoods or seiS it must provpJe. Provisions are measured at the best estimate of the amounts required to settle the obligation. Where the effect of the lime value of money is matsrtal. the provision is based on the present value of those amounts, discounted * the pre-tax discount rate that reflects the rtsk$ specific to the liability. The unwinding of the discount in the Stslement of Financial Activities as a finance c05L 2.10 PENSIONS The CharÈty opèrates a defin contribution pension scheme and the charge represents tha amounts payable by the Charity to the fund in respect of the year. 2.11 FUND ACCOUNfiNG Genèral funds are unrestricted funds which arÈ available for use at the discretion of the Trustees in furtheran of the general Ot¢teS of the Charity and Wh have not been deswnated for other purposes. Investrnent inca)me. gans and losses are lIated lo the appropfiale fund. CRITICAL ACCOUNTING ESTIMATES AND AREAS OF JUDGEMENT Estimates and jUdgennts are cCtinUal evaluated and are based on historical experien and other factors, including expectations of fubjre events that are tse1 to be reanable under th& circumstarKes. CrÈtical accounting esttimate5 arKI a5sumpkns: The Charity makes estimates and assumptions contynirtg the fubjre. The resutting accounting Èstimates and assumptions will, by definition, sèldom equal the relaled acal 51. The estimates and assumptions that have a signfficant risk ot C2usiftg a material adjLÈsbnent to the Carwng amounts of assets and Kabilities wrthin the nextfinancial year are discussed below. Criti¢xl areas of judgemert The valUat)n of the Chart$ freehokl prorertres afft inherenuy subJ"ectNe due lo, among other factors, the indiwdual nature of the property. its tocation and the extE¢ted fLrture rental ievenues from that parb¢ular property. As a result, the valuatton subj.ect to a degree of nrtaInty and is made on the basis of assumptions which may nol prove to be aurate, parbcularty in periods of voL8b"lty or kn¥ transaction flow in the pro[rtY markeL The value at the year end is £3,309.fYXI12023'. £3,309,000). The properties are induded rn the Balan Sheet at TTUStees' valuatKJn. The Trustees believe that this valuation is not materialty different from the vdue that would b& 8pplied by an independent prof¢ssional valuer. Page 11
THE PEARN ALMSHOUSES CHARrrY NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 INVESTMENT INCOME Unrestrictsd funds 2024 Total funds 2024 Total funds 2023 Incomè from Idents Dmdends and intefe5t on shares Interest on bank and deFK)stifvThls 177.797 12.004 3,129 177,797 12.004 3,129 152,292 12,004 740 165,036 TOTAL 2024 192,930 192.930 OTHER INCOIAING RESOURCES Total funds 2024 Totsl fund5 2023 fvnd$ 2024 Sundry Income 1.984 1,984 808 ANALYSIS OF EXPENDrruRE BY ACTMTES ActNths undertaken directly 2024 Support Gosts 2024 Total funds 2024 Total funds 2023 119.713 19.975 139.688 178,CE8 Page 12
THE PEARN ALMSHOUSES CHARITY NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 ANALYSIS OF EXPENDITURE BY ACTVIITIES ICONTINUEDI ANALYSIS OF DIRECT COSTS Total funds 2024 Totsl funds 2023 Staff $ts CleanTng costs Gardening costs Water Gas Electrictty Rent and rates Telephone Insurance Repairs and renewals Subscripbons Depreciab"on- fumrture, fittings and equipment Bank eharges Sundry expenses Adverts"sing 24,408 4.235 9.530 4436 9,208 13.291 921 8.567 9.060 31.537 692 21,748 3,922 13.597 12,227 10,424 2, 143 6.718 8,085 78,654 430 li 654 146 540 171 2,793 250 3.028 119,713 166,646 Page 13
THE PEARN ALMSHOUSES CHARITY NOTES TO THE FINANCIAL STATEMEp¥rs FOR THE YEAR ENDED 31 MARCH 2024 ANALYSIS OF EXPENDMJRE BY AcrivmES (CONllNUED> ANALYSIS OF SUPPORT COSTS Total fund$ 2024 Total funds 2023 Accountancy fees Legal and professional costs 3,696 7.726 16.129 19.975 11,422 INDEPENDENT EXAMINER'S REMUNERATION Thè indeFerKlent Mine¢S reMuneIK)n amounts to an independent examiner fee of £3.84612023 - £3,696}. STAFF COSTS 2024 2023 Wages and saLaiie5 Pension Sts 23,031 1,3TI 19,799 1,949 21,748 The average number of persons employed by the Charity during the year was as folknvs: 2024 2023 No. Full time No employee Tl¥ed remuneralion amounting to more than £60.000 in either year. Page 14
THE PEARN ALMSHOUSES CHARrrY NOTES TO THE FINANCIAL STATEMEKrs FOR THE YEAR ENDED 31 MARCH 2024 TRUSTEES. REMUNERATION AND EXPENSES During the year. no Trustees reived any remuneratron or other beneffts12023- £NIL). During the year ended 31 March 2024. no Trustse expenses have been incurred12023- £NILI. 10. TANGIBLE FIXED AssErs Freehold FureS and property fittings Total COST At 1 April 2023 3.309,000 14.707 3R23.707 At 31 March 2024 3.309,CI)O 14.707 3,323,707 DEPRECIATION Al 1 April 2023 Charge for the year 10.660 654 10,660 654 At 31 March 2024 11.314 11,314 NET 800K VALUE At 31 Mah 2024 3,309,IX 3.393 3,312,393 At 31 March 2023 3.309.000 4,047 3,313,D47 Included in land and bU11ng5 are the Atmshouses properttes at 79, 81 and 83 Higher Compton Road and Blocks 1, 2 and 3 at Eggbuckknd, PoLrth at builthng reinstatement value. The propgrties were valued on th8 repment baskq at £1.935.000 a1 £1.374.01)O res1vely, by Wickery Holman, prOty Conyjhants in September 2021 and the Trustees consKler this valuation to be appltcable al the year end. The totsl value 01 £3,309,000 12022: £2.860,000} has a historical cost of £1,033,637 12022.. £1,033,637). The PFwerb"es are not depre(Jaj as the Trustees consider their carrying value is not Material drfterent from th65 valuatw)n. Page 15
THE PEARN ALMSHOUSES CHARITY NOTES TO THE FINANCtAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 11. FIXED ASSEf INVESTMEp¥rs Li8tsd investments COST OR VALUATION At 1 April 2023 Additions Revaluabons 1.075,584 7,456 118.886 AT 31 MARCH 2024 1,201.926 NET BOOK VALUE AT 31 MARCH 2024 1.201,926 AT 31 TrA4RCH 2023 1.075.584 The historic cosl of the Ited inve5trnents is £442.081 (2023: £434.6251. 12. DEBTORS 2024 2023 DUErHIN ONE YEAR Pfepayments and acoued cOMe 175 13. CREDITORS: AMOUNTS FALUNG DUE WIThIN ONE YEAR 2024 2023 Ac¢rua15 and deferred income 5,428 3,696 Pwje 16
THE PEARN ALMSHOUSES CHARrr( NOTES TO THE FINANCIAL STATEMEPffS FOR THE YEAR ENOED 31 MARCH 2024 14. STATEMENT OF FUNDS STATEMENT OF FUNDS- CURRE YEAR Balance at 1 Ap1 2023 Balance at 31 March 2024 Transfers inlo Gain61 {Lossesl Income Ewnditurfr UNRESTRICTED FUNDS General Funds 616,206 f 94.914 (139.688) 17.456) 727.940 ENDOWMENT FUNDS Endowment Fund 3.856.567 7.456 54.922 3,918,945 TOTAL OF FUNDS 4.471m 1x914 1139.688) 118.886 4646.885 Endowment Fund8 The Trusfs pemanent endowment represents land buildirHJ5 and the CCLA COIF ChaTilies InvÉstry)ent Fund a(Lufflulation units. STATEMENT OF FUNDS - PFUOR YEAR Balance 8t 31 March 2023 Balance at 1 April 2022 Transfw inlout Gaingj (Losses) In(YJTne Expendtture UNRESTRJCTED FUNDS G8neral Funds 655.851 165,844 1178.0681 111.184} {16,237) 616.206 ENDOWMENT FUNDS Endowment Fund 3.402.048 11.184 443.335 3.856,567 TOTAL OF FUNDS 4.OS7,899 165,844 I178.8) 427,098 4.472.773 Pag&17
THE PEARN ALMSHOUSES CHARITY NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 15. ANALYSIS OF NET ASSETS BETWEEN FUNDS ANALYSIS OF NET ASss BEfwEEN FUNDS- CURRENT PERIOD Endowmont Unrestricted funds funds 2024 2024 Totsl fund$ 2024 Tangible fixed assets FIX asset invesbmenls Current assets Creditots due wrthin one year 3.199,351 719.594 113,042 482.332 137,994 15.428) 3.312,393 1.201.926 137,994 (5,428) TOTAL 3,918,945 727,940 4,646.885 ANALYSIS OF ASSEfs BETWEEN FUNDS- PRIOR PERIOD End[Pent Unrestrscted funds funds 2023 2023 Total funds 2023 Tangible fixed assets Fixed asset invesknents Current assets Creditors due within one year 3.193.832 662,735 119.215 412,849 87,838 13.6961 3,313,047 1,075,584 87,838 {3,696} 3,856,567 616,2L 4,472,773 TOTAL PENSION COAIMrrMENTS 'The Chartty operales a defined ContribUtK pen Sh. The assets of the scheme are h8liJ sepaTately from those of Ihe Charity in an independenty administered fund. The pension cost charge represents contributions payable by the Charity to the fvnd and amounted to £1.377 (2023: £1.9491. Contributions lotalling £Nil {2023" £Nill were payable to the fvnd at the Balafi Sheet date. 17. RELATED PARTY TRANSACTIONS The Chanty has not entered into any related party transactions during the year. nor afe there any outstsnding baLgnces ow¢ng ben related parbes and the Charity at the Balance Sheet date. 18. copifROLLING PARTY The Charity is Control collthty by the Board d Trust. Page 18