Charity numbgr: 204718 THE PEARN ALMSHOUSES CHARITY UNAUDITED TRUSTEES, REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 ishop Fleming
THE PEARN ALMSHOUSES CHARITY coTrirENTS Page R•f•r•nco and Admlnl•tratlv• Detail• of the Charity. its TrusteeB and Advi9grs TTUSte68' Rgport Ind8p•ndent Examinorfs Report ststement of Flnancial Actlvitles Balance Sheet Notss to the Financlal Slaloments 9-19
THE PEARN ALMSHOUSES CHARITY REFERENCE AND ADMINISTRATNE DETAILS OF THE CHARiff. ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 MARCH 2025 Trustees IE M S Clinton, Chair Mrs P M Stewart irtr T N Shobrook Miss C H Bailey Dr R G Banjafield Charfty registernd number 204718 Principal office 81 D Higher Compton Road L¢)wer Compton Plymouth PL3 5JD Accountants Bishop Fleming Audit Limited Chartered Accountants Sall Quay House 4 North East Quay Sutton Haybovr Plymouth PL4 OBN 8ankers Lloyds TSB Bank Plc 8 Royal Parade Plymouth Devon PL1 1DS CCLA Investment Management Ltd COIF Charity Funds One Angel Lane London EC4R 3AB SollGitors Foot Ansley LLP Salt Quay House 4 North East Quay Sutton Hathur Plymouth Devon PL4 OBN Page 1
THE PEARN ALMSHOUSES CHARITY TRUSTEES REPORT FOR THE YEAR ENDED 31 MARCH 2025 The TNstees present their annual report together with the financial statements of the Charity for 1 April 2024 to 31 Marth 2025. OBJECTIVES AND ACTIVITIES . POLICIES AND OBJECTIVES The principal objective of the Charity is to provide sheltered accomm¢)dation for poor persons of not less than srxty years of age who are inhabitants of the city of Plymouth, except in special cases lo be approved by the commissioners. The Trustees have agreed that the definition of 'poorf does not netpssarily refer sololy lo financial moans but may include wider Considerations such as health and the ability to continue lo occupy safely existing accommodation, which is increasingly owner occupied and not always suitable for the eklerfy. b. MAIN ACTMTIES UNDERTAKEN TO FURTHER THE CHARITY'S PURPOSES FOR PUBLIC BENEFIT The Trustees have had regard to the Charity Commission's guidance on public benefiL The Charity provides secure and suitable accommodation for elderfy pefsons induding full maintenance internally and 6xternsJlly with provision of 811 relevant s¢N¢eg. Residents ar8 taken from the general public in the Plymouth area in accordance Imth the Charity's constitution. The Tnjstees are mindfvl of their duty to provide a beneficial setvice and Facility, recognised as l)eing for the public good. Accordingly, and tearing in mind the requirements of our objects, good quality secure ommodalion al a fair price is on offer lo deserving applinIS. Care is taken to establish existing resources, both income and capital, state of health, and suitabilty of present accommodation. As a general rule, once they have settled in Residents remain in their property for some years. ACHIEVEME15 AND PERFORMANCE . KEY FINANCIAL PERFORMA14CE INDICATORS Prime Importan lo the Charity is to have a minimum of voids (empty properties) 2nd for the year •nding 31st March 2025 owupancy rates were 100°h. b. INVESTMENT POLICY AND PERFORMANCE Ihe Gharity's investments are managed by CCLA Investment Management Ltd and are invesled in the COIF Charities Investment Fund. Surplus cash is depoglted with CCLA. Page 2
THE PEARN ALMSHQUSES CHARITY TRUSTEES REPORT ICONTINUEDI FOR THE YEAR ENDED 31 MARCH 2025 FINANCIAL REVIEW . GOING CONCERN After making appropriate enquiries, the Twstees have a reasonable expectstion that the Charity has adequate resources to continue in operational existence ft)r the foreseeable future. For this reason they continue to adopt the going concern basis in preparing the financial statements. Further details regarding the adoption of the going concem basis can be found in the A¢counb"ng Policies. b. REVIEW FOR THE YEAR Whp.nÈver a unit is empty the opportunity is taken to modemise it up to standard and during the year the Trustees have undertaken lo modernise fracilities foT the benefftt of the resldetrt5 iiibludirtg kitGhen. bathroom, lighting and healing upjrades as wdl as normal decorating costs. The Trustees are concerned to provide high quality accommodation for our Residents at acceptable cost. Accordingly. thp_ ttharge to Residents is set annually taking account of the fair rent of the accommodation with an additron to Cover costs met by the Charity. The Trustees are satisfied that the financial position of the Charty to date wll enable Ihem to continue to meet these objectives. c. RESERVES POLICY Unrestricted fvnds are available to meet the day to day costs associated wlh the Charity's aims and to meet commitments as they fall due. The balance of unrestricted funds at the year end amount to £771,846 {2024.' £727,940). Pemianent Endowment funds are available for capitsl purposes and are invested in accumulation units. There are funds both to recoup previous capital investments. Endowment funds at the year end amount to £3,888.089 {2024: £3,918,945). The Cottages recoupment fund has approL 40 years to go before our agreement wth the Charity Commission is satisfied. A statement of condition has been obtained at September 2021 which provides a good guide of the likely cost of repairs and maintenance over the next 5 years. The major items which wll need to addressed at Hr. Compton - fvdo of the trio of properties were built in the 1930's are.. Gyclical maintenance Kitchen and bathroom modemisation And at the C¢)ttage8 are.. Cydical maintenance The estimated cost of this at today's price$ is in the order of £60,000. Page 3
THE PEARN ALMSHOUSES CHARtrY TRUSTEES REPORT ICONTINUEDI FOR THE YEAR ENDED 31 MARCH 2025 STRUCTURE, GOVERNANCE AND W4NAGEMEKr . CONSTITUTION The official name of the Charity is "Peam Almshouses" 11 is located al Plymouth in the County of Devon. A Certs'ficate of Incorporab'on of the Trustees of the Charity by the name of "The Trustees of the Pearn Almshouses Chariv, was sealed by Order of the Commissioners on 16 May 1994. There have been no changes in the obj'ectives since the last annual reptsrL b. MEfHOD OF APPOINTMENT OR ELECTION OF TRUSTEES The management of the Charity is the responsibility of the Trustees who ar8 elted and COwOPted under the terms of the Charity Commission Scheme. Trustees are appointed for a term of five years by 2 resolution of the Trustees and as a Trustee is appointed they must provide a declaration of acceptance and willingness to act. c. ORGANISATIONAL STRUCTURE AND DECISION MAKING In addition to the Trustees there is an employed Trust Manager is responsible for conducting day to day business and reporting to the Trust888. d. RISK MANAGEMENT Thè TTUStee9 hav• as98¥sed the major riska to which the Charity is expostxl, in particular those related lo the operations and finances of the Charity and are satisfied that systems and procedures are in place to mitigate our exposure to the major risks. This report was approved by the Trustees and Signed on Iheir half by.. Mrs M S Clinlo (Chair of Trustees) D*e. Page 4
THE PEARN ALMSHOUSES CHARITY TRUSTEES REPORT ICONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 STATEMENT OF TRUSTEES. RESPONSIBILITIES The Trustees a responsible for preparing the Trustees, report and the )Inancial statements in accordance wth applicable law and United Klngdotn Accounting Standards (United Kingdom Generally ActF.pted Accounting Practice). The law applicable to charities in England & Wales requires the Trustees to prepare financial ststements for each financial year vthich give a true and fair view of the slate of affairs of the Charity and of its incoming resources and application of resources, including its Income and expenditure. for that perbod. In preparing these financial statements. the Trustees are requirgj to: select suitable accounting policies and then apply them consistently,. ob#erve the methods and principles of the Charities SORP IFRS 1021-, make judgements and accounting estimates that are reasonable and prudent., stste whether applicable UK Accountirsg Standards {FRS 1021 have been followed. SUbjt to any material departures disclosed and explained in the financial ststements", prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Charity will continu¢ In businass. The Trustees are responsible for keeping adequate accoynting records that are sufficient to show and explain the Charity's transactions and disclose with reasonable accuracy at any time the financial position of the Chafity and enable them to ensure that the financial statements comply with the Charities Act 2011. the cnarty (AUnIS and Report31 Regulatsons 2008 and thè prnvisions of the Trust deed. They are also respjnsible for safeguarding the assets of the Chanty and hence for taking reasonable steps for the prevention and detecb.on of fraud and other irregularities. This report was approved by the Trustees and signed on their behalf by: Mrs M S Clint (Chair of Trustees) Dale: Page 5
THE PEARN ALMSHOUSES CIIARITY INDEPENDETrif EXAMINER'S REPORT FOR THE YEAR ENDED 31 MARCH 2025 INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF THE PEARN ALMSHOUSES CHARITY I'the Charity'l I report to the Charity Twstees on my examination d the accoLtnts of the Charity for the year ended 31 March 2025. RESPONSIBILMES AND BASIS OF REPORT Ab- the Trustees ol the Charity you are responsible for the preparation of the accounts in am)rdan¢e with the requirements of the Charities Act 2011 ('Ihe 2011 ACVI. I report in respect of my examination of the Charity's accounts carried out under section 145 of the 2011 knt and in carrying out my examination I have followed the applieble Directions given by the Charity Commi&ion iind&r section 145151{bl of the 2011 Act. INDEPENDENT EXAMINER'S STATEMENT I have completed my oxaminAtion. I confrrm that no ttiatt¢r6 1)av¥ coffle to ffly attentlon in connection wrth Ihe examination giving me causo lo believe that in any material respect.. accounting records were not kept in respect of the Charity as required by section 130 of the 2011 Art or the accounts do not accord with those raeords.. or the accounts do not comply with the applicable requirements concerning the form and Content Gf atS sel out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a 'true and fairf vtew which is not a matter considered as part of an independent ex8mina*ion. I have no concerns and have come across no other matters in connection with the examination to which attenkn'on should be drawn in this report in order to enable a proper understanding of the accounts lo be ached. Signed.. Alison Oliver {FCA} BISHOP FLEMING AUDIT LIMITED Chartered Accountants Sall Quay House 4 North East Quay Sutton Harbour Plymouth PL4 OBN Date.. 2810112026 Page 6
THE PEARN ALMSHOUSES CHARITY STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2025 Endowment Untricted funds funds 2025 2025 Total lunds 2025 Total funds 2024 Note INCOME AND ENDOWMENTS FROM: Investments 206.334 306 205,334 192,930 1.984 Olher income TOTAL INCOME AND ENDOWMENTS EXPENDITURE ON: Charitable activities 205.640 205.640 194,914 156,459 156.459 139,688 TOTAL EXPENDITURE 156A59 156.459 139,688 NEf INCOMEI (EXPENDITURE} BEFORE NET GAINS1 {LO83ES) ON INVESTMENTS Net gainsl Ikjsses) on investments 49.181 {25.886} 49,181 136.131) 55,226 118.886 13 110.2451 NEf INCOMEI IEXPENDITUREI Transfers behveen fiJnds (10.245) (20,611> 23.295 20,611 13.050 174,112 13 NEf MOVEMENT IN FUNDS {30.8561 43.906 13.050 174.112 RECONCILIATION OF FUNDS: Total funds brought forward Net movement in funds 3.918,945 (30.856} 727.940 43.906 4.646,885 13,050 4,472,773 174.112 TOTAL FUNDS CARRIED FORWARD 13 3.888.089 771.846 4.659.935 4,646,885 The Statement of Financial Activities includes 311 gains and losses recognised in the year. The notes on pages 9 to 19 form part of these financial statements. Page I
THE PEARN ALMSHOUSES CHARITY BALANCE SHEET AS AT 31 MARCH 2025 As restated 2024 2025 Note FIXED AssFrs Tangible assets Investments 10 11 3.311,739 1,249,595 3,312,393 1,276,442 4.561,334 4.58tS,835 CURRENT ASSETS Cash al bank and in hand 104.001 63,478 104,001 63,478 CURRENT LIABILITIES Creditor5.' amounts falling due within one year 12 (5,400) {5.4281 NET CURRENT ASSETS TOTAL ASSETS LESS CURRETrrr LIABILITIES 98,601 58,050 4.659,935 4,646,885 TOTAL NET ASSET8 4,659.935 4,646,885 CHARrrY FUNDS Endowment funds Unrestricted funds 13 3.888.089 771.846 3,918,945 727,940 13 TOTAL FUNDS 4,659,935 4,646,885 The finanual statements were approved and authorised for issue by the Trustees and signed on their behalf by.. Date.. The notes on pagès 9 to 19 forni part of these financial ststements. Page 8
THE PEARN ALMSHOUSES CHARrrY NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 GENERAL INFORMATION The unincorporated Charity is registered with Charity Commission, the registered number is 204718. The registèred address of the Charty is 81 D Higher Compton Road, Lower Compton. Plymouth, PL3 5JD. ACCOUNTING POLICIES 2.1 BASIS OF PREPARATION OF FINANCIAL STATEMENTS The financial statements have bgen prepared in accordance with the Charit8 SORP IFRS 102} - Accounting and Reporting by Charities. Ststement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in th8 UK 8nd Republic of Ifeland IFRS 1021 (effective 1 January 2015}, the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1Q21 and the Gh8titi&ts Ad 2011. The Pe8m Almshouses Chanty meets the definition of a public benefit entty under FRS 102. Assets and liabilities are inilialty recognised at hislori¢al cost or transaction value unless otherwise stated in the relevant accounting policy. 2.2 INCOME All income is recognised once the Charity has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably. Income tax Tecoverable in relatiors to investment income is recognised at the lime the investment income is rl¥able. 2.3 EXPENorruRE Expendrture is recognised On there is alegal or constructive obligation to transfer economic benefft to a third paty, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is dassified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each actNty. Direct costs attributable to a single actNity are allocated directly lo that activty. Shared costs which contribute to more than one activity and support costs which are not attributable to a single acttv'ty are apportioned belween those activities on 8 basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent. and depreciation charges allocated on the portion of the asset's use. Expenditure on charitable actDiilies is incurred on directy undertaking the activities which further the Chanws objectives, as well as any associated support c(1$. All expenditure is inclusive of irrecoverable VAT. 2A INTEREST RECEIVABLE Interest on funds held on deposit is induded when receivable and the amount can be measured reliabty by the Charity., this is nomialty upon r1catiOn of the InteSt paid or payable by the iristitulion ¥rfith whom th¢ funds aro depjsited. Page 9
THE PEARN ALMSHOUSES CHARtrY NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 ACCOUNTING POLICIES Icontinuedl 2.5 TANGIBLE FIXED ASSETS AND DEPRECIATION Tangible fixed assets are initl8lly recognised at cost. After recognition. under the cost model, tangible fixed assets are measured al cost less accumulated depreciation and any accumulated wnpainnenl losses. All eosts incuTred to bring a tangible fixed asset into ils intended working condition should be included in the measurement of cost. The freehold properti8s, only. are initially recognised at cost. After recognition, Lfnder the valUation model, tangible fixed assets whos8 fair value can be measured reliably shall be carried at a revalued amount, being their fair value at the dale of revaluation less any subsequent accumulated depreciation and subsequent accumulated impaimienl losses. Revaluations are made wth sufficient regulartty lo ensure that the ¢arrwng amount does not drffer materially from that which would be determined using fair value al the end of the reporting dale. Fair values are del&miined from market-based evidence by appraisal that is nomially undertaken by professionally qualrfied valucrs. If there is no matkel-babe(l ewdence of fair value because of the speeialised nature of the tangible fixed asset and il is rarely sottl, except as part of a conth"buling business, 8 Charity may need lo estimate fair value using an income 01 depreciated replament 81 approa¢h. ?ains and losses on rèvaluation are reco9nised in the Stsieinent of Flnanaal Acu"vrties, wrth any gain5 or losses going through the endowment fund in the Statement of funds note. DepreCiatn is charged so as lo allocate the cost of tangible fixed 8$sets less their residual value over their estimated useful lives. Depreciat¢on is provided on the following bases.. Freehold propety Fixtures and fittings not depreciated 10% slraighl line 2.6 INVESTMEKrs Fixed asset investments are a lorm ol financial instrument and are initolty recognised at their transaction cost and subsequently measured at fair value al the Balance Sheet date, unless the value cannot be measLFred reliably in which case it is measured al cost less impaiment. Invostmenl g8ins and losses, whether realised or unrealised. are Mbined and presented as 'GainsllLosses} on investments, in the Statement of Financial ACtivits. 2.7 CASH AT BANK AND IN HAND Cash al bank and in hand includes cash and short-temi highly liquid investsments with a short maturity of three months or less fiom the date of acquisition or openir5g of the d8posit or similar account. Page 10
TrIE PEARN ALMSHOUSES CHARITY NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 AccouKnNG POLICIES Icontinu•d) 2.8 UABILITIES AND PROVISIONS Liabilities are recognised when there is an obligation at the Balance Sheet date as a result of a past event, it is probable that a transfer of economic benefitwill be required in settlement. and the amount of the settlement be estimated reliably. Liabilities are reGogni3ed at the amount that the Charity anticipates st will pay to settle the debt or the amount it has Teoived as advaftd payments for the goods or ServiS it must provide. Provisions are measured at the be51 estimate of the amounts required to settle the obligation. Wher8 the effect of the time value of money is material, the provision is based on the present value of those aiiiT)uiits. disGounted at the pr&tax discount ratè thAt rÈftects the risks swffi¢ to the liability. The unwinding of the dIunt is reGognised in the Statement of Financial Activities as a finance cost. 19 PENSIONS The Charity operates a defin6d conlribution pension scheme and the pension charge represents the amt)unls payable by the Charity to the fund in respect of the yeaT. 2.10 FUND ACCOUNTING G¢neral funde are unrestrir.t&d fijnds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the Charity and which have not been designated for other purposes. Investment income, gains and loss&s are alIcted to the 8PPTopriate fund. CRITICAL ACCOUNTING ESTIMATES AND AREAS OF JUDGEMENT Eslimate5 and judgements are continually evaluated and are based on historical experience and other f3ctors, including expectations of futUf8 events that are believed to be reasonable under the circumst8nces. Critical accounting estimates and assumptions.. The Charity makes estimates and assumptions conrnIng the future. The resulting accounting estimates and assumptions will, by defin(tion. seldom equal the related actual results. The estimates and assumptions that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilitses within the xt financial year are discussed below. Critical areas of judgement.. The valuation of the Charitys freehold propertie5 are inherenty subjective due to, among other factors, the individual nature of the property, its location and the expeeled fvture rental revenues from that particular property. As a result. the valuation is subject to a degree of uncertainty and is made on the basis of assumptions which may not prove to be accurate, particularly in periods of volatility or low transadion flow in the property market. The carrying value at the year ib £3,309,000 {2024". £3,309.0001. The properties are included in the Balance Sheet al Trustees, valuation. The Trustees believe that this valuatson is not matertally drfferent from the value that would be applied by an independent professional valuer. Page 11
THE PEARN ALMSHOUSES CHARITY NOTES TO THE FINANCIAL STATEMElnS FOR THE YEAR ENDED 31 PIARCH 2025 INVESTMENT INCOME Unrnstrlct funds 2025 Total funds 2026 fund$ 2024 Income from residents Dividends and Inte8t on shares Intest on bank and deposit funds 189,397 12,245 3,692 189.397 12.245 3.692 177,797 12,004 3,129 TOTAL 2025 205,334 205,334 192.930 OTHER INCOMING RESOURCES Unrestricted funds 2025 Total funds 2025 Total funds 2024 Sundry Income 306 1,984 ANALYSIS OF EXPENDITURE BY ACTIVMES Activities undertaken directly 2025 Support costs 2025 Total funds 2025 Total funds 2024 Charitable actThiitie5 142,349 14,110 156.459 139,688 Page 12
THE PEARN ALMSHOUSES CHARITY NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 ANALYSIS OF EXPENDITURE BY ACTIVITIES {CONTINUED) ANALYSIS OF DIRECT COSTS Total funds 202S Total fund5 2024 Staff costs Cleaning costs Gardening costs Water Gas Electriaty RAnt and rates Telephone Insurance Repair3 and renewals Subscriptions Depreciation- fumiture, fittings and equipment Bank charges Sundry expenses 24,797 4,340 8.198 4.789 12.413 15,130 354 9.830 9,657 24,408 4,235 9,530 4,436 9,208 13,291 921 8,567 9,060 31,537 692 654 146 252 654 116 li 3,028 142,349 119,713 Page 13
THE PE4RN ALMSHOUSES CHARITY NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 ANALYSIS OF EXPENDrruRE BY ACTIVITIES ICONTINUEDI ANALYSIS OF SUPPORT COSTS Total fund8 2025 Total funds 2024 Accountancy fees Legal and professional costs 4,125 9,985 16,129 14,110 19,975 INDEPENDENT EXAMINER'S REMUNERATION The independent examin8rfs remuneration amounts to an independent examiner fee of £3,846 {2024 - £3,6%1. STAFF COSTS 2025 2024 Wages and salaries Pension costs 24,797 23,031 1,377 24,797 24,408 The average number of persons employed by the Charity during the year was as follows.. 2025 No. 2024 No. Full time No employee received remuneration amounting to more than P_60.000 in eith8r yaar. Page 14
THE PEARN ALMSHOUSES CHARITY NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 TRUSTEES. REMUNERATION AND EXPENSES During the year, no Trustees received any remuneralion or other benefrts {2024- £NIL}. During the year ended 31 March 2025, no Trustee expenses hav8 been incurred12024 - £NILI. 10. TANGIBLE FIXED ASSErs Freehold Fixtures and property fittings Total COST OR VALUATION At 1 April 2024 3.309.000 14,707 3.323,707 At 31 March 2025 3.309.000 14,707 3.323,707 DEPRECIATION At 1 April 2024 Charge for the year 11.314 11,314 654 At31 Marth 2025 11,968 11.968 NET BOOK VALUE Al 31 March 2025 3.309.000 2,739 3.311.n9 Al 31 March 2024 3,309,QOO 3,393 3.312,393 Included in land and buildings are the Almshouses properties al 79. 81 and 83 Higher Comptr)n Road and Bl¢xks 1, 2 and 3 al Eggbu¢kland, Ptymouth at building reinstatement valuo. The properties were valued on the reptaMent basis al £1,935,000 and £1,374,000 respeclivety, by Vickery Holman, Property Consultants in September 2021 and the Trustees consider thi5 valuation to be applicable at the year end. The lotsl value of £3,309.000 {2024." £3,309,000} has a historical cost of £1,033,637 {2024.. £1,033,637}. The properties are not depreciated as the Trustees consider their carrying value is not materialty different from this valuation. Page 15
THE PEARN ALMSHOUSES CHARITY NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 11. FIXED ASSET INVESTMENTS Llsted Unlistod Investments In¥tpts Total COST OR VALUATION At 1 April 2024 Prior year adjustment At 1 April 2024 las restsled) Additions Revaluationa 1,201926 1.201.926 78.208 78.208 1.201.926 5,592 {36.131} 78,208 1,280,134 5,592 (38.q 31) AT 31 MARCH 2025 1,171,387 78.208 1.249.695 NET BOOK VALUE AT 31 MARCH 2025 1,171.387 78,208 1,249,S95 AT 31 MARCH 2024 IAS RESTATED} 1,201.926 78,208 1.280,134 The historic cost of th8 listed inveslm8nts is £442,08112024.. £442,081). A prior year re5tatem6nt has been made to reclasstty a long-lemi deposlt from cash ana cash equivalents to fixed asset investments, reftecting its nature as a deposit held for a period exceeding three months. 12. cREDORS. AMOUFs FALLING DUE MTHIN ONE YEAR 2025 2024 Accruals and deferred income 5,400 5.428 Page 16
THE PEARN ALMSHOUSES CHARITY NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 13. sTATEMETr OF FUNDS STATEMENT OF FUNDS- CURRENT YEAR Balance at Gainsl 31 March (Lo$s•sl 2025 Balance at 1 April 2024 Transfors Inlout Incomg Expenditure UNRESTRICTED FUNDS General Funds 727,940 205.640 1156.4591 20,611 125,886) 771,846 ENDOWMENT FUNDS Endowment Fund 3,918,945 120,611) {10.24S) 3.888.089 TOTAL OF FUNDS 4,646,885 205,640 1156,459) (36,1311 4,659.935 Endowment Funds The Trusvs permanent endowment represents land and buildings and the CCLA COIF Charilies Investrnont Fund accumulation units. STATEMENT OF FUND8 - PRIOR YEAR Balance at Gainsl 31 March (Losses) 2024 Balance at 1 April 2023 Transfe inlout Ineome Expenditure UNRESTRICTED FUNDS General Funds 616,206 194,914 (139,6881 17,456) 63,9S4 727,940 ENDOWMENT FUNDS Endowment Fund 3,856,567 7,456 54,922 3.918,945 TOTAL OF FUNDS 4,472,773 194,914 1139.6881 118,886 4,646.885 Page 17
THE PEARN ALMSHOUSES CHARirY NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2026 1& ANALYSIS OF NEf ASSEfs BETWEEN FUNDS ANALYSIS OF NET ASSETS BEfwEEN FUNDS - CURRENT YEAR Endowment Unrostricted funds funds 2025 2025 Total funds 2025 Tangible fixed assets Fixed asset investments Current assets Craditor% due within one year 3,309,000 579,089 2,739 670,5 104,001 {5,4001 3.311.739 1.249.595 104001 15.400) TOTAL 3,888.089 771.846 4.659,935 ANALYSIS OF NET ASss BEfwEEN FUNDS - PRIOR YEAR Endowrnent Unrestricted funds funds 2024 2024 Total funds 2024 Tangible fixed assets Fixed asset inveslm8nts Current assets Creditors due within one year 3,199.351 794.110 {74,516) 113,042 482,332 137,994 {5.4281 3,312,393 1.276,442 63,478 15,428) TOTAL 3,918,945 727,940 4,646,885 15. PENSION COMMITMENTS The Charity operates a defined contribution pension scheme. The assets of the scheme are held separdtely from those of the Charity in an independently administered fund. The pension cost charge represents contributions payable by the Charity to the fund and amounted lo £Nil 12024." £1,377). Contributions totalling £Nil 12024.. £Nill were payab to the fund at the Balance Sheet date. The Charity and its employees not make any pension contributions in the year. 16. RELATED PAR TRANSACTIONS The Charity has not entered into any related party transactions during the year, nor ar8 there 8ny outstanding balances owing beeen related partie8 and the Charsty at the Balance Sheet date. 17. POST BALANCE SHEET EVEiirs After the balance sheet dale. on 1 April 2025, the charity became incorporated as a Charitable Incorporated Organisation ICIOI. The assets, liabilrties, and activities of the charity are expected to btt Iransferfed lo the CIO. This event does not affect the figures ieported in these accounts. Page 18
THE PEARN ALMSHOUSES CHARITY NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 18. CONTROLUNG PARTY The Chanty is ¢ontrdled collectively by the Board of Trustees. Page 19