CHARITY REGISTRATION NUMBER., 205021 THE STOCKTON ALMSHOUSES Unaudited Financial Statements 31 December 2024 DIANA MILLER FCA ROBINSON MILLER Chartered accountants First Floor, 36 High Street Warminster Wiltshire BA12 9AF
THE STOCKTON ALMSHOUSES Financial Statements Year ended 31 December 2024 Page Trustees, annual report Independent examiner's report to the trustees Statement of financial activities statement of financial position Notes to the financial slatements The following pages do not form part of the financial statements Detailed statement of financial activities 23 Notes to the detailed statement of financial activities 24
THE STOCKTON ALMSHOUSES Trustees, Annual Report Year ended 31 December 2024 The trustees present their report and th8 naudited financial statements of the charity for the year ended 31 December 2024. Reference and admlnlstrative details Registered charlty name THE STOCKTON ALMSHOUSES Charity registration number 205021 Principal office Longhall Slocklon Warminster Wiltshire BA12 OSE The trustees Mr M Steel Mr S James Mr Plows Mr Cook Ms T Rickerby Mrs S Rutherford-Jones IAppointed 19 March 2024) IAppointed 19 March 20241 IResigned 16 February 20241 (Appointed 18 September 20241 Independent examiner Diana Mill&r Robinson Miller First Floor, 36 High Street Warminsler Willshire BA12 9AF
THE STOCKTON ALMSHOUSES Trustees. Annual Roport {contlnu8dJ Year ended 31 December 2024 Structurgy governance and management Details of the Governing Documgnt The Trust Deed founded by the will of John Topping the Elder proved in 1641. The Charity is registered with the Charity Commission No. 205021. Organlsation Trustees The body of Trustees shall consist of., - Two Ex-officio Trustees and Three Co-operative Trustees The Ex-officio Trustees are., The Rector of the Parish of st.mary the Virgin and St Peter. Codford. The Rector of the Parish of Sl.John the Baptist, stockton. The following Iruslees have served during the year, T Rickerby (Chairman) -PCook M Steel S James - J Plows Co-opted - appointed 27th September 2022 Co-opted - resigned 16th February 2024 Coknopted - appointed 19th March 2024 Co-opted - appointed 19th March 2024 Exaoflicio All new Iruslees ale provlded with Charities Commission guidance on being a trustee and go through an induction process. Activity The Charity continues lo provide low-cosl housing for the elderly of limited means. Reserves lal Restricted Funds The W.T.Topp fund is reslricled with the income from the capital invested lo be distributed annually lo the residents of the Almshouses. The Efflilie Gay fund is reslricled with the income from the capital also being invested lo be distributed equally beiween the residents of the Almshouses. In the accounts the restricted income is then effectively donated lo the occupants of the Almshouses, this is shown as an in¢rease in the income contributions from residents and an expense showing as a donation to the residents. Ib) Unrestricted Funds These a held in furtherance of the Charity's objèctives at the discretion of the Trustees. Annual
THE STOCKTON ALMSHOUSES Trustees, Annual Reportl¢ontlnued} Year ended 31 December 2024 investments are made in respect of extraordinary repairs, cyclical maintenance obligations and routlne maintenance budget in accordance wtth the investments policy published by the Almshous6 Association. History and Background The land on which the Almshouses are situated are 1.88 acres In the vlllage of Stockton, Willshire. 11 has a frontage of 200 feel onlo Almshouse Road with the building known as Slocklon Almshouses together with the adjoining orchard. The Charity was founded by John Topp The Elder in 1641 who was a residellt in Stockton House, a Grade I Iisled country house in the village. The Almshouse5 were built in 1657 by the Topp family. The two-storey dwellings are built in rubble stone with bands of dressed limestone, and wings added in 1714 provided two more dwellings. There are now a total of six dwellings which are Grade11 listed. Risk Management Assessment All major risks lo which the Charty is exFX)sed are reviewed by the Trustees and systems established lo miligale those risks. Reserves Pollcy The Trustees, primary objects've is to provide appropriate resource5 to enable the Charity's beneficiaries lo be well cared for and supported in the circumstances in which they find themselves. The Boa¥d has established, by way of a transfer from the Unrestricted Fund in line with the guidance from the Almshouse Association - £14.29812023 - £13,866) (which can be broken down lo.. £3,798 12023 - £3,684) to the Extraordinary Repair Fund, £6,210 {2023 £6,024) to the Cyclical Maintenance F¢Jnd and £4,29012023 £4,158) lo the RoLJtine Maintenance Fund, Designated FndS lo provide for future pairS and maintenance in the following funds.. £14,4331£8.499 - 20231 in the Extraordinary Repair Fund £61,2281£53,910 - 20231 in the Cyclical Maintenance Fund £761 {£6.043 - 20231 in the Routine Maintenance Fund The Extraordinary Repair Fund has reduced in the year due lo the finalisalion of cost relating lo the installation of secondary double glazing in the year and replacement of timber doors, to assist the residents in keeping warm and secure over the winter months. The Charlly has a regular income stream from the weekly maFiagemenl charges and monthly lield rent. 11 is the Trustees, view that at least one month of norrNal expenditure should be maintained in readily available cash reserve5. This should amount lo no less than £10,000, being the maximum expected expenditure in any one month. Investment Policy The Board continues to invest The Slocklon Almshouse5 capital and designated funds in a balance of cash, equity and property ftjnds. No changes were made in the investment holdings duTing the year. The Trustees periodically review the investments to ensure they meet with the Charities objectives. A full review of the Charities Investments look place in 2021 to ensure the funds were invested in the best way lo support the Charities objectives as well as ensuring the investments are made in an ethical and sustainable way, Some invèslmenls were sold and re-invested as part of Ihe restructure, following the review in 2022. The investments have increased in value dL¢ring 2024, continuing the iecovery from ihe general downturn in the finan¢lal markets during 2022. The charity does not anlicipale the need lo realise any
THE STOCKTON ALMSHOUSES Trustees, Annual Report (conllnuod) Year ended 31 December 2024 reductions in the short to medium term and, con5equenlly. will keep the portfolio under review wilh the assistan of the Chartered Financial Planners retained to advise the organisation. Tw$tee$' Responslbilities Statement The trustees are responsible for preparing the Trustees, Report 8nd the financial statements in accordance with applicable laws and regulations. Charlty12w requires the Trustees ID prepare tinancial slalemenls for each financial year. Under charity law the Tmstees musl not appmve the financial slalements unless they are satisfied that they give a true and fair view of the state ol affairs of the charity and of the incoming resources and application of resources, including the income and expendilure,of the charity for that period, In preparing these rinancial statements, the Trustees are required lo.. select suitable accounting policies and then apply them consislenlly., observe the methods and principles in the Charities SORP., make judgements and estimates that are reasonable and prudent.. slate whether applicable UK Accounting Standards have been followed,. and prepare the financial slatemfjnts on the going concern basis unless il is inappropriate lo presume that the charity will continue in business. The Trustees are responsible for keeping adequate accounting records that are Sufflent to show and explain the charity's transactions and disclose with reasonable accuracy al any tirNe the financial position of the charity and enable them lo ensure that the financial slalements comply with the Charities Act 2011 and Charity Accounting and Reporting regulations 2008. They are also responsible for safeguarding the assets of the charity and hence lor taking reasonable steps for the prevention and detection of fiaud and other irregularities, The Trustees are responsible for the maintenance and integrity of the charity and financial information inclLJded on the charity's website in accordance with legislatioft in the United Kingdom governing the preparation and dissemination of the financial statements. Objoctives and activltles Objectives To provide low-cosl housing for the elderly of limited means. Activty The Chaiity continues lo provide low-cosl housing for the elderly of limited means. The Trust Deed Stipulates that the Almspeople musl be a needy person and musl be not less than 60 years of age and of good character who may be a married persons residing in the Parishes of Codford and Stockton and subject thereto the county of Willshire, in order lo be eligible for residing in the dwellings. Almspeople are required lo contribute a weekly sum towards the cost of maintaining the Almshouses and services therein.
THE STOCKTON ALMSHOUSES Trustees. Annual Report (contlnued) Year ended 31 December 2024 Achievements and performance Public Benefit The Trustees have reviewed the Charities ComrrissiorTr's gLJid8nce on the requirement to report on public benefit. The Board is satisfied that the work of The Slocklon Almshouses, in accordance with ils slated objectives provides tangible public benefit lo a wide section of those who reside within The Slocklon Almshouses, areas of benefit., the criteria used lo assess those who may benefit are not unreasonably reslriclive. Flnancial review Flnances The accounts are produced under the Slalement of Recommended Practice for charities. The attached financial statements show the current slate of finances which the Trustees consider sound. Plans for future periods Our plans on objectives for the year ahead are lo.. Ensure we remain at full occupation To keep up the maintenance schedule and update the 5 year plan. To continue to maintain the welfare and satisfaction of the residents. To continue to review all policies and procedures. To ensure investment review recommendation are carried out. To undertake work to improve energy efficiency to assist with rising costs of living. The Iruslees, annual report was approved on 28 October 2025 and signed on behalf of the board of Iruslees by.. Mr M Steel Trustee
THE STOCKTON ALMSHOUSES Independent Examiner's Report to the Trustees of THE STOCKTON ALMSHOUSES Year ended 31 December 2024 report to the Iruslees on my examinalion of the financial statements of THE STOCKTON ALMSHOUSES I'lhe charity'l for the year ended 31 December 2024, Responsibilitle8 and basTS of report As the trustees of the charity you are responsible for the preparation of the financial slalements in accordance with the requirements of the Charities Act 2011 I'lhe Act,). I report in respect of my examination of the charity's financial slalements carried out under section 145 of the 2011 Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 14515llbl of the Act. Independent examiner's statement I have completed my examination. I confirm that no material mallers have come to my attention in connection with the examination giving me cause lo believe that in any material respect,. accounting records were not kept in respect of the charity as required by se¢llon 130 of the Act., or the financial statements do not accord with those records-, or the financial statements do nol comply with the applicable requirements concerning the form and content of accounts sel out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give 8 'true and fair. view which is not a matter considered as part of an independent examination. I have no concerns and have ¢ome across no other mallers in connection with the examination to which attention should be drawn in this report in ordor to enable a proper understanding of the accounls to be rèached. Diana Miller Robinson Miller Independent Examiner First Floor. 36 High Street Warminsler Willshire BA12 9AF z&-
THE STOCKTON ALMSHOUSES Stalement of Financial Activities Year ended 31 December 2024 2024 Reslricled funds Total funds Total funds 2023 Unreslricled funds Notè Income and endowments Charitable activities Investment income 32.390 6,156 32,390 6,823 39,213 32,012 4,791 666 Total Income 38,546 666 36,803 Expenditure Expenditure on raising funds.. Costs of raising donations and legacies Investment management costs Expenditure on charitable activities Total expendlturo 642 25 842 549 23,475 24,666 620 362 37.096 525 23,475 24,000 667 38,078 Nel gains on investments 10 2,766 509 3,275 8.366 Net Income and net movement In funds 17,312 508 17,822 7.091 Reconelliation of funds Total funds brought fopNard Total funds carried forward 244.513 261,825 23,144 23,652 267,657 260,566 285,477 267,657 The statement of financial activities includes all gains and losse$ recognised in the year, All income and expenditure derive from continuing activities. The note5 on pages 9 to 21 form part of th&se financlal 8t8tements.
THE STOCKTON ALMSHOUSES Statement of Financial Position 31 December 2024 2024 2023 Note Fixed assets Tangible fixed assets Heritage assets Investments 15 16 17 460 540 204,901 149,082 205,362 149,623 Current assets Stocks Debtors Cash at bank and in hand 18 19 320 1.909 80,733 900 1,410 118,410 120,720 82,962 Credltors.. amounts falling due within one year Net current assets 20 2,847 80,115 285,477 285,477 2,686 118,034 267,657 Total assets less current Ilabllltles Net assets 267,657 Funds of the charity Reslricled funds Unrestricted funds 23,652 261,825 285,477 23,144 244,513 Total charlty funds 21 267.657 These financial statements were approved by the board of trustees and aulhorised for issue on 28 October 2025, and are signed on behalf of the l)oard by.. Mr M Steel Trustee Thè notes on pageB 9 to 21 fomi part of these financlal statements.
THE STOCKTON ALMSHOUSES Notes to the Financial Statements Year ended 31 December 2024 General informatlon The charity is a public benefit entity aftd a registered charity in England and Wales and is unincorporated. The address of the Pfincipa1 office is Longhall, Stockton, Warminsler, Willshife, BA12 OSE. ststement of complian¢e These financial statements have been prepared in compliance wllh FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland,, the Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 102) {Charities SORP IFRS 10211 and the Charities Act 2011. Accountlng policies Value added tax The Charity is not registered for Value Added Tax IVATI and is theiefore not recoverable by the charity and expendilure is shown in the accounts inclusive of VAT. Basis of proparation The financial statements are being piepared on a going concern basis. under the historical cost convention as modified by the revaluation of certain fixed assets. The financial statements are prepared in Sterling which is the functional currency of the entity. Monetary amounts aTe rounded lo the nearest F)ound. The financial statements have been prepared in accordance with Accounting and Reporting by Charities.. Slalement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS102lleffective 1 January 20151- (Charities SORP IFRS10211, the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS1021 and the Charities Act 2011 and UK Generally A¢¢epted Accounting PractiTr. The Slocklon Almshouses Charity meets the definition of public benefit entity under FRS 102. Going concern There are no material uncertainlie5 about the charty's ability to continue. Disclosure exemption$ The enlity satisfies the criteria of being a qualifying entity as defined in FRS 102. As such, advantage has been taken of the following disclosure exemptions available under paragraph 1.12 ot FRS 102.. lal No cash flow stslement has been presented for the company. {bl Disclosures in respect ol financial instruments have not been presented.
THE STOCKTON ALMSHOUSES Notes to the Financial Statements (contlnued) Year ended 31 December 2024 Accounting policles (cojpllnuod) Judgements and key sources of estimatlon uncertalnty The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectation5 of future events that are believed lo be reasonable under the circumstances. Fund accounting Unreslricled funds are available for use at the discretion of the Iruslees to further any of Ihe charity's purposes. Designated funds are UnstrICted funds earmafked by the trustees for particular future project or Commitment. Reslricled funds are subjected lo reslfictions on their expenditure declared by the donor or through the terms of an appeal, and fall into one of two sub-classes.. restricted income funds or endowment funds. Incoming resources All incoming resources are included in the statement of financial activities when entillemeril has passed lo the charity., il is probable that the economic benefits associated with the transaction will flow to the charity and the amount can be reliably measured. The following specific policies are applied to particular categories of income: income from donations or grants Is recognised when there is evidence of entillemenl to the gift, receipt is probable and ils amount can be measured reltably. legacy income is recognIs when receipt is probable and entitlement is eslabllshed. income from donated goods is measured al the fair value of the goods unless this Is impractical to measure reliably, in which case the value is derived from the cost lo the donor or the eslimaled resale value. Donated facilities and services are recognised in the accounts when received if the value can be reliably measured. No amounts are included for the ¢onlribution of general volunteers. income from ¢ontracls for the supply of services is recognised with the delivery of the contracted service. This is classified as unreslricled fund5 unless there is a contractual requirement for il to be spent on a particular purpose and returned if unspent, ir¢ which case it may be regarded as restrittted. 10
THE STOCKTON ALMSHOUSES Notes to the Financial Statements (c0fr7tinued) Year ended 31 December 2024 Accounting pollcies (continue Resources expended Expenditure is recognised on an accruals basis as a liability is incurred. Expenditure includes any VAT which cannot be lully recovered, and is classified under headings ol the statement of financial aclivities to which it relates.. expenditure on raising funds includes the costs of all fundraising a¢tivitie5, events, non- ttharitable trading activities. and the sale of donated goods. expenditure on charitable activities includes all costs incurred by a charity in undertaking activities that further its charitable aims for the benefit of its beneficiaries. including those support costs and costs relating to the governance of the charity apportioned to charitable activities. other expenditu includes all expenditure that is neither related lo rai51ng funds for the charity nor part of its expenditure on charilable acts'vilies. All ¢os15 are allocated lo expenditure cal4ories reflecting the use of the resource. Direct costs attributable to a single activity are allocated d1cl1Y to that activity- Shared costs are apportioned between the activities they contribute lo on a ieasonable, iuslifiable and consistent basis. Tangible assets Tangible assets are initially recorded at cost, and subsequently slated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried al revalued amounts are recorded al the lair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation. is recognised in other recognised gains and losses, unless il reverses a charge for impairment that has previously been recognised as expenditure within the statement of financial activities. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other recognised gains and losses, except lo which it offsets any previous revaluation 9ain, in which case the loss is shown within other recognised gains and losses on the statement of financial activities. Depreciation Depreciation is calcLJlaled so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows.. Fixtures and fi'llings Mains Water Connection 150/0 reducing balance 150h reducing balance 11
THE STOCKTON ALMSHOUSES Notes to the Financial Statements (conllnu8d) Year ended 31 December 2024 Accounting pollcies (contlnued) Heritage assets The Almshouses were built in 1657 and, under the Scheme established by the Charity Commissioners on 31 st October 1977, they can only be used for the residencè of almspeople. They are, therefore, inalienable. The Trustees consider il inappropriate lo capilalise buildings at cost, which is unknown, or al market value. as Ihgre is none. As the information on the cost or value of the Almshouses is not available and cannot be obtained al a cost which is commensurate with the benefits lo users of the financial statements. the asset shall be recognised in the statement ol financial position at a nominal £1. Under the Charity Commissioners Scheme the Trustees are obliged lo insure the propety al its full value against lire and other usual risks. As at 31 December 2024 the Almshouses and ¢onlent5 belonging to the Trustees were illSLtred for £3.120,000 (2023 - £1,306,263). Investments Unlisted equity investments are initially recorded at cost, and subsequently measLEred al fair value. If fair value cannot be reliably measureé, assets are measured at cost less impairment. Listed investments are measured al fair value with changes in fair value being recognised in income or expenditure. Investments in associate$ Investments in associates accounted for in accordance with the cost model are recorded at cost less any accumulated impalrment losses. Investments in associates accounted for in accordance with the fair value model are initially recorded al the transaction price. At each reporting date. the investments are measured al fair value. with changes in fair value taken through income or expenditure. Where il is impracticable lo measure fair value reliably the cost model will be adopted. Dividends and other distributions received from the investment are recognised as income without regard lo whether the distributions are from accumulated profits of the associate arising before or after the dale of 2cquisilion. Investments in joint ventures Investments in jointly controlled entities accounted for in accordance with the cost model are recorded al cost less any accumulated impairment Losses. Inveslments in jointly controlled entities accounted for in accordance with the fair value model a initially recorded al the transaction price. Al each reporting date, the investments are measur$d al fail value, with changes in fair value taken through income or expenditure. Vvhere il is impracticable lo measure fair value reliably the cost model w111 be adopted. Dividends and other distributions received from the investment are recognised as income without regard to whether the distributions are from accumulated Profits of the joint venture arising before or after the dale of acquisition. 12
THE STOCKTON ALMSHOUSES Notes to the Financial Statements (contlnued) Year ended 31 December 2024 Accounting policies (contlnuedj Impaimient of fixed assets A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when il is not possible lo estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash- generating unil to which the asset belongs. The cash-generaling unil is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent ol the cash inflows from other assets or groups of assets. For impainment testing of goodwill. the goodwill acqlsired in a business Combination is, from the acquisition dale, allocated to each of the Cash-generaling units that are expected lo benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the charity are assigned lo those units. Stocks Stocks are measured al the lower of cost and eslimaled selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other Costs incurred in bringing the stock to its present location and condition. Financlal instruments A financial asset or a financial liability is recognised only when the charity becomes a party lo the contractual provisions of the instrument. Baslc financial instruments are in5tialW recognised al the amount receivable or payable including any related ITansaclion costs. Current assets and current liabilities are subsequently Measur at the cash or other consideration expected to b& paid or received and not discounted. Debt instruments are subsequently measured at amortised cost. Where investments in shares are publicly traded or their fair value can otherwise be measured reliably, the inveslmÈnl is subsequently measured al fair value with changes in fair value recognised in income and expenditure. All other such investments are subsequently measured al cost less impairment. other financial instruments, including derivatives. are initially recognised at fair value, unless payment for 8n asset is deferred beyond normal business terms or financed al a rate of interest that is not a market rate, in which case the asset 15 mèasured al the present value of the future payments discounted al a market rale of interest for a similar debt instrument. other financial instruments are subsequently measured al fail value, with any changes recognised in the statement of financial activities, with the exception of hedging instruments in a designated hedging relationship. 13
THE STOCKTON ALMSHOUSES Notes to the Financial Ststements (eoTrlfNRued) Year ended 31 December 2024 Accounting policles {conUnuedJ Financial instruments (¢ontlnued) Financial assets that are measured at cost or amorlised cost are reviewed for objective evidence of impairment at the end of each reporting dale. If there is objective evidence of impairment, an impairment loss is recognised under the appropriate heading in the statement of financial activities in which the initial gain was recognised. For all equity instruments regardless of significance, and other financial assets th81 are individually signilicanl, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar Creéil risk characlerislics. Any reversals of impairment are recognised immediately, lo the extent that the reversal does not result in 8 carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised. Charltable activities Unreslricled Total Funds Unrastricted Total Funds Funds 2024 Funds 2023 Contributions from resldenls Contributions from field rent 31,850 540 31,850 540 31.532 480 31.532 480 32,390 32,390 32,012 32,012 Investment income Unreslricled Funds Reslricled Total Funds Funds 2024 Income from listed investments Bank interest receivable 3,114 3,042 666 3,781 3,042 6,156 666 6,823 Unrestricted Funds Restricted Total Funds Funds 2023 Income from listed investments Bank interest receivable 2,531 1,617 4,148 642 3,174 1,817 4.791 642 Costs of raising donations and legacies Restrtcted Total Funds Funds 2024 Restricted Total Funds Funds 2023 Costs of raising donation5 and legacies - Donations 642 642 620 620 14
THE STOCKTON ALMSHOUSES Notss to the Financial Statements (¢otrJtlnuodJ Year ended 31 December 2024 Investment managemènt costs Unrestricted Funds Restricted Total Funds Funds 2024 Portfolio managemenl 525 25 549 Unreslricled Funds Restricted Total Funds Funds 2023 Portfolio management 339 22 362 Expgnditure on charitablè activlti9s by fund type Unrestricted Total Funds Unreslricled Totsl Funds Funds 2024 Funds 2023 Charitable Acb'vilies-Provision of Almshouses Support costs 19,673 3,802 19,673 3,802 35,406 1,69D 35,406 1,690 37,096 23,475 23,475 37,096 Expenditure on charltable aetlvltles by activity type Activities undertaken directly Suppoil Total funds costs 2024 Total fund 2023 Charitable AGtivities-Provision of Almshouses Governance costs 19.673 19,673 3,602 23,475 35,406 1.690 37.098 3,802 3,802 19.673 10. Net galns on investments Unreslricled Funds Reslri¢led Total Funds Funds 2024 Gainslllosses} on listed investments 2,766 509 3,275 UnrestrECted Funds Restricted Total Funds Funds 2023 Gainsl{lossesl on listed investments 6,472 1,894 8,366 15
THE STOCKTON ALMSHOUSES Notes to the Financial Statements (¢ontlnu8dJ Year ended 31 December 2024 11. Net income Nel income is staled after chargingllcredilingl.. 2024 2023 Depreciation of tangible fixed assets 80 96 12. Independent examlnation fees 2024 2023 Fees payable lo Ihe independent examiner for.. Independent examination of the financial statements 1,200 1,250 13. Staff costs The average head ¢ount of employees during the yeaf was Nil12D23.' Nill. No employee recelved employee benefits of more than £60,000 during the year12023.' Nil). 14. Trustee remuneration and expenses Trustee Remuneration No remuneration or other benefits from employment wilh the charity or a related entity were received by the trustees. There ale no related paty transactions to disclose. 15. Tangible fixed assets Fixtures and Mains Water fittings Connectio Total Cost At 1 January 2024 and 31 December 2024 Depreciation At 1 January 2024 Charge for the year At 31 December 2024 5,196 7,112 12.308 5,059 20 6.709 60 11.768 80 5,079 6,769 11,848 Carrylng amount At 31 December 2024 117 343 460 At 31 December 2023 137 403 540 16. Herltage assèts The building known as The Almshouse, Stockton, Warminsler. Willshire, BA12 OSH. call only be used as almshoLJses for the accommodation of residents in furlheran¢e of the Charity's objects. This freehold property was constructed in 1657 and whilst il is currently being used as an almshouse, it is a Grade11 listed and therefore has heritage qualities. 16
THE STOCKTON ALMSHOUSES Notes to the Financial Ststements (oontlnued) Year ended 31 December 2024 16. Herltage assets (contlnued) Stockton Almshouses Cost or valuation At 1 January 2024 and 31 December 2024 Accumulated depreclation At 1 January 2024 and 31 December 2024 Carrylng amount At 31 December 2024 At 31 December 2023 The Iruslees regard il as a heritage asset within the scope of paragraph 18.11 of the Charities SORP. The building which has a nominal historic cost of £1 consists of 6 self contained residential uni15. The asset is not depreciated FRS102 as it is deemed to have an indefinite lifespan. 11 is the Charity's practi to maintain this asset in a continual slate of sound repair and lo make improvements thereto from time lo time and accordingly the Trustees consider that the value is not impaired by the passage of time. 17. Investments Cash or cash Llsted equivalents investments Total Cost or valuatlon At 1 January 2024 Additions Disposals Fair value movements 35,528 1,871 112,554 50,797 11241 3,275 166,502 149,082 52,668 1124) 3,275 204,901 At 31 December 2024 28,399 Impairment At 1 January 2024 and 31 December 2024 Carrylng amount At 31 December 2024 38,399 36,528 166,502 204.901 149.082 At 31 Dember 2023 112,554 All Inveslmenls shown above are held at valuation. 17
THE STOCKTON ALMSHOUSES Notes to the Financlal Statements (contlnued) Year ended 31 Decembar 2024 17. Investments (Qontlnued) Financlal assèts hold at fair value Investmènts are a form of a basic financial instrument and are initially recognised at their transaction value and SLJbsequenlly measured al their lair value at the balance sheet dale using the quoted market price. The Statement of Financial Activities includes those unrealiseé gains and losses arising f¥om the revaluation of the investment portfolio during the year and does not distinguish between the value adjustments relating to the sales and those relating lo the ontinued holdings as they are together treated as changes in the value of the investment portfolio. Investment income is accounted for on a receivable basls. The Investments are all held in charity specific managed funds which are listed on the UK Stock Exchange. 18. Stocks 2024 2023 Raw materials and consumables 320 900 19. Debtors 2024 2023 Trade debtors Prepayments and accrued income 440 1,469 1,909 440 970 1.410 20. Creditors: amounts falling due withln one year 2024 2023 Accruals and deferred income 2.847 2,686 18
THE STOCKTON ALMSHOUSES Notes to the Financial Statements {contlnu8d) Year ended 31 December 2024 21. Analysls of charitable funds Unrgstricted funds Al 1 Jan 2024 Gains and At losses 31 Dec 2024 Income Expenditure Transfers General funds Designated Fund Extraordinary Repair Fund Designated Fund Cyclical Maintenance Fund Designated Fund -Rouline Maintenan Fund 176,061 36,339 114,0921 (14,2981 1,392 185,402 8,499 1,099 13361 3,798 1,374 14.434 53,909 1,108 6,210 61,227 6,044 244,513 19,5721 124.0001 4,290 762 38,546 2.766 261,825 Gains and At losses 31 Dec 2023 l Jan 2023 Income Expenditure Transfers General funds Designated Fund Extraordinary Repair Fund Designated Flsnd Cyclical Maintenance Fund Designated Fund -Rouline Maintenance Fund 162.743 34.618 112,4551 {13,8661 5,021 176,1 22.038 634 119,3081 3,684 1,451 8,499 46,977 908 6,024 53,909 7,558 15,6721 137.4351 4.158 6,044 244,513 239,316 36,160 6,472 19
THE STOCKTON ALMSHOUSES Notes to the Financial Statements Icontinued) Year ended 31 December 2024 21. Analysls of charltable funds feonllnued) Restrlcled funds At 1 Jan 2024 Gains and Al losses 31 Dec 2024 Sncome Expenditure Transfers The Emilie Gay Fund The WT Topp Fund 19,966 555 15561 451 20,416 3.178 3,236 23,652 23,144 666 1667) 509 At 1 Jan 2023 Gains and At losses 31 Dec 2023 Income Expenditur Transfers The Emilie Gay Fund The WT Topp Fund 18,262 544 15441 1,704 19,966 2,988 21,250 98 1981 18421 190 3,178 23,144 642 1,894 The Emllle Gay Fund- RESTRICTED Under the will of Miss Emilie Gay, who dled on 30th November 1920, and a scheme established by the Charity Commissioners on 9th September 1921, the Trustees of Stockton Almshouses hold investments upon trust to divide the income equally beiween the occupants of Ihe Almshouses. The investments held throughout the year were as follows.-_ 1005 COIF Income Shares., Cost- £2,94812023 - £2.9481 Market Value.. 2024 - £20,39512023 - £19,944) Net income receivable in the year was £5551£546 2023). This was used to defray the costs of the OCGupants of the Almshouses. The W TTopp Fund- RESTRICTED Under the will of William Thomas Topp, who died on 5th January 1987, a legacy of £1,000 was left to the Trustees upon trust to distribute the income annually to the residents of the Almshouses. The investments held IhroughoLJt the year were as follows',- Cost- £3,375 - (2023.. £3,375} Market Value 2024 - £3,25812023 - £3.200) Net income receivable in the year was £871£74 - 20231. which was used to defray the residents costs. 20
THE STOCKTON ALMSHOUSES Notes to the FlnancÉal Statements (contlnued) Year ended 31 December 2024 22. Analysis of net assets between funds Unrestricted Funds Restricted Total Funds Funds 2024 Tangible fixed assets Heritage assets Investments Current assets Creditors less than 1 year Net assots 460 460 181,249 82,940 {2,8251 261,825 23,652 22 1221 23,652 204,901 82,962 {2.847} 285,477 Unrestricted Funds Restricted Total Funds Funds 2023 Tangible fixed assets Heritage assets Investments CLfrrent assets Creditors less than 1 year Net assets 540 54CJ 125,938 120,698 {2,6641 244.513 23,144 22 1221 23,144 149,082 120,720 (2.686} 267,657 21
THE STOCKTON ALMSHOUSES Management Information Year ended 31 December 2024 The following pages do not form part of the financial statements. 22
THE STOCKTON ALMSHOUSES Detailed Ststement of Financial Activities Year ended 31 December 2024 2024 2023 Income and endowments Charitable activitles Contributions from residents Contributions from field rent 31.850 $40 31,532 480 32,390 32,012 Investment Income Income from listed investments Bank interest receivable 3,781 3,042 6.823 3,174 1,617 4,791 Total income 39,213 36,803 Expenditure Costs of raislng donations and legacios Donations lo residents from restricted funds 642 620 Investment manayement ¢o$ts Portfolio management 549 362 Expenditure on charitable actlvities Rates and walei Light and heal Repairs and mairilenance Insurance Legal and professional fees Other office costs Depreciation Subscriptions 856 7,710 9,572 1,455 3,032 102 80 668 8,682 24,818 1,224 1,494 96 196 23,475 37,096 Total expenditure 24,666 38,078 Net gains on Investments Gainsl{lossesl on listed investment5 3,275 8,368 Net Income 17,822 7,091 23
THE STOCKTON ALMSHOUSES Notes to the Detalled Statement of Financial Activities Year ended 31 December 2024 2024 2023 Costs of raising donatlon8 and legaelos Costs of raising donations and legacies - Donatlons Donations- Use of reslri¢led fund income to support residents 642 620 Costs of raising donations and le9acies 642 620 Expendlture on charitable actlvltles Charitable Activities-Provision of Almshou$•s Activities undertaken directly AlmshoLJse costs - rates & water Almshouse costs - light & heal Almshouse costs - repairs & maintenance Almshouse costs - insurance Almshou$e costs - depreciation 856 7,710 9,572 1,455 80 586 8,682 24,818 1,224 96 19,673 35,406 Governance ¢ost$ Governance ¢osls - accountancy fees Governance cosls - legal and other professiona5 fees Governance costs - other office costs Governance costs- subscriptions to Almshouse Association 1,200 1,832 102 668 1,260 234 196 3,802 1,690 Expenditura on charltable activities 23.476 37,096 24