2025-03-31-accounts - Calne Almshouse Charity

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CALNE WELFARE CHARITIES

Annual Report of the Trustees and Unaudited Financial Statements

Year ended 31 March 2025

Registered Charity Numbers:

Calne Almshouse Charity- 205037 Calne Relief in Need Charity-205038 Calne Advancement in Life Charity-278477

CALNE WELFARE CHARITIES

Contents of the Financial Statements for the Year Ended 31 March 2025

	Page
Report of the Trustees	1
Independent Examiner's Report	7
Statement of Financial Activities	8
Balance Sheet	9
Notes to the Financial Statements	10-16
Not forming part of the Statement of Financial
Activites
Detailed Statement of Financial Actvities:
-Calne Almshouse Charity	17
-Calne Advancement in Life Charity	18
-Calne Relief in Need Charity	19
Investment Performance	20

CALNE WELFARE CHARITIES

Report of the Trustees for the Year Ended 31 March 2025

The trustees present their annual report and financial statements of the charity for the year ended 31 March 2025. The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the charity's trust deed, the Charities Act 2011 and Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard for Smaller Entities, (effective 1 January 2015).

Objectives and Activities

The purposes of the Charity are as follows:

i) To manage and maintain the Charity's Almshouses and provide accommodation to Almspeople, resident in the Parishes of Calne, Calne Without, Bremhill and Highworth, in the county of Wiltshire, (which is referred to as the 'area of benefit' below).

ii) providing grants for the Advancement in Life.

in assisting persons who have not attained the age of 25 years, resident in the 'area of benefit', who are in need of financial assistance and who are preparing for, entering upon, or engaged in any profession, trade occupation, or service, by providing them with outfits, or by paying fees, travelling or maintenance expenses. Or by such other means, for their Advancement in Life, or to enable them to earn their living as the Trustees think fit.

-promoting education, (including social and physical) of those such persons referred to above.

iii) providing grants for Relief in Need.

-relieving either generally or individually persons resident in the 'area of benefit', who are in conditions of need, hardship or distress, by making grants of money or providing or paying for items, services of facilities calculated to reduce the need, hardship or distress of such persons.

Grant making policy

Grants are made to individuals, or organisations, for the Advancement in Life, or for the Relief in Need in accordance with the objects of the Trust. All grants must be approved for payment by the Trustees.

Review of Activities

Almshouse residents as at 31 March 2025, were as follows:

Flat 10 Ms A Mullin Flat 11 Ms M Samways Flat 12 Mr A Rimmer Flat 13 Mr J Watkins

During the year donations were received from the following:

Henry Smith Charity Private individuals Calne Short Mat Bowling Club Total	£4,200 £251 £300
	£4,751

Grants of £2,816 were paid out in accordance with the objects of the charity, including to 7 private individuals. Applications for charitable grants from potential donees continued during the year, due to the Trustees raising awareness of the Charity in the local community, assisted by the Charity's website.

CALNE WELFARE CHARITIES

Financial Review

i) Calne Almshouse Charity

Financial budgets are prepared annually by the Trustees, in accordance with guidance on best practice provided by the National Almshouse Association. This includes the requirement for a weekly maintenance void provision of 5% of anticipated income. The budget makes allowance for all expected operating and management costs, as well as identification of annual provision for repair costs, allocated between i) General repairs and maintenance, ii) Cyclical repairs and maintenance and iii) Extraordinary repairs and maintenance. For the year ended 31 March 2025, the monthly maintenance and light & heat contributions payable by the Almhouse residents was increased by 5% & 10% respectively to £582.50 for Flats 10,11 & 13 and £545.90 in respect of Flat 12.

Income from Almshouse residents for the year to 31 March 2025 amounted to £27,522 which exceeded budget as all flats were fully let during the year.

Expenditure for the year totalled £31,743, £13,859 greater than the prior year due to legal expenses of £7,856 and increased cyclical repair costs of £6,013. Expenditure for the year exceeded income by £4,221.

Unrestricted Income Funds:

As at 31 March 2025, the balance of the Cyclical Repair Fund was £107,014 and the Extraordinary Repair Fund £322,362 (funds invested). The market value of all the funds increased during the year in line with market conditions. The trustees believe that when appropriate, annual transfers should be made into

the Cyclical and Extraordinary Repair Funds, to ensure that sufficient funds are held available at all times to cover future repair costs. £20,000 (£10,000 per fund) was transferred during the year.

As at 31 March 2025, the Trustees believe that sufficient funds are held in both the Cyclical Repair & Extraordinary Repair Funds to cover the costs of future repairs.

ii) Calne Advancement in Life Charity

During the year, investment income totalled £1,810.

Grants paid out in accordance with the charity's aims, amounted to £1,549.

As at 31 March 2025, the unrestricted income fund balance amounted to £40,824, all invested to generate income.

iii) Calne Relief in Need Charity

During the year, total donations of £4,750 were received.

Investment income totalled £1,416. Grants paid out in accordance with the charity's aims, amounted to £1,667. As at 31 March 2025, the unrestricted income fund balance amounted to £34,856, all invested to generate income.

Overall Trust resources increased by £27,424 compared to the prior year.

With net assets as at 31 March 2025 of £523,438, the charity remains well positioned to meet its current and long term expenditure commitments.

Investment Policy and Performance

The Trust operates a total return approach to the investment of both the permanent endowment and also the current asset investments. The funds are currently invested with two managed charity funds, being 1) CCLA -Charities Official Investment Fund (COIF) 2) M&G -National Almshouse Association Income Fund (NAACIF)

Funds are invested in the CCLA-COIF Income Fund, or the M&G NAACIF Income or Accumulation funds. These funds invest in a mix of UK & Global Equities and Fixed Interest stocks, geared towards longer term total return growth, at a lower risk than investing directly into Equities. The Funds offer better annual returns than those currently obtained on bank deposit, but with a greater element of risk, as a result.

CALNE WELFARE CHARITIES

During the year the performance of the Funds were as follows:

		Total	Return
		2025	2024
CCLA	COIF -Ethical Income Fund	-1.4%	5.8%
M&G	NAACIF- Income Fund	6.6%	3.2%
M&G	NAACIF- Accumulation Fund	7.1%	4.3%

Financial Risk Management

The principal risks of the Charity are as follows:

i) Maintenance and security of the Almshouse properties.

The Trust has adequate Buildings, Public and Employer liability insurance in place. The Almshouse properties are insured for £1,128,552.

ii) Financial resources to repair and maintain the Almshouse properties.

Specific unrestricted income funds are in place, with sufficient reserves to cover the costs of Cyclical and Extraordinary repairs, as and when they arise.

iii) Performance of Investments.

The Charity investments are managed by two Charity specific investment companies,

one of which being a specific investment fund for Almshouses.

This ensures the security of the investments, as any changes require the approval of Trustees, as well as funds being invested in a spead of lower risk assets, in line with the Trusts objective of total returns over the longer term.

iv) Default of Residents maintenance contributions.

The Trust Secretary is responsible for the collection of rents on the Trustees' behalf and reports regularly to the Trustees on any incidences of arrears of rent.

Reserves Policy

For the Trust to operate effectively it must maintain sufficient funding of £5,000 to cover its day to day working capital requirements, plus an extra sum to fund any significant committed repair costs. In addition the Trustees have set aside sufficient reserves to cover the cost of both Cyclical and

Extraordinary Repairs, as and when they should arise. Full explanation of the Charity Reserves is shown in note 13 of the Financial Statements.

Plans for the Future

For the year to 31 March 2026, the residents' weekly maintenance contributions were increased by 5% to £530 per month for Flats 10,11,13 and £490 in respect of Flat 12. These rates are in line with National Almshouse Association guidance.

CALNE WELFARE CHARITIES

Structure, Governance and Management

The Calne Welfare Charities were established by Charity Commission order dated 14 November 1978, being the consolidation of ten charities into three separate registered charities, being:

Calne Almshouse Charity- 205037 Calne Relief in Need Charity-205038 Calne Advancement in Life Charity-278477

The Charity Constitution allows for up to eleven Trustees, as follows:

i) Five ex-officio Trustees.

being

a) The Priest in charge of the Ecclesiastical Parish of Christchurch, Derry Hill.

b) The Vicar and Churchwardens of the Ecclesiastical Parish of Calne.

c) The Vicar of the Ecclesiastical Parish of Bremhill.

ii) Five Nominative Trustees. being appointed by: a) Two by Calne Town Council

b) One by Calne Without Parish Council

c) One by Bremhill Parish Council

d) One by Highworth Parish Council

iii) One Co-optative Trustee.

New Trustees are appointed by the existing trustees, other than those appointed by Calne Town Council.

The Trustees have full power to make regulations for the management of the Charity.

The trust is a member of The National Almshouse Association, which provides helpful advice of good practice and changes in law, affecting charities.

Key Management Personnel Remuneration

The Trustees consider the board of Trustees and the Trust Secretary, as comprising the key management personnel of the charity, in charge of directing and controlling the charity and running and operating the charity on a day to day basis. All Trustees give their time freely and no trustee remuneration was paid in the year. Details of trustee expenses and related party transactions are disclosed in note 2 to the financial statements.

Trustees are required to disclose all relevant interests and register them with the Trust Secretary and in accordance with the Charity's policy, withdraw from decisions where a conflict of interest arises.

The remuneration of the charity's Trust Secretary is reviewed annually by the Trustees.

CALNE WELFARE CHARITIES

Reference and Administrative Information

Trustees

Jessica Pillow, Chair of Trustees Deirdre Aldhous, Vice Chair of Trustees Jonathan Billings Elizabeth Hitchens (resigned 4/10/2024) Cllr Robert Merrick (resigned 4/11/2024) Reverend Caspar Bush Simon Petty-Fitzmaurice, 11th Earl of Kerry Rachael Clayden (appointed 11/3/2025) Mary Patricia Davies (appointed 31/03/2025)

Trust Secretary

Douglas Edge

Almshouse Address

10-13 Kingsbury Street Calne Wiltshire SN11 8DF

Principal Office

1 Amberley Close Calne Wiltshire SN11 9UP

Independent Examiner

Mr B. Jackson FCA Oakleaf Accountancy Ltd 78 Stickleback Road Calne Wiltshire SN11 9RB

Bankers

Lloyds Bank 29 High Street Chippenham Wiltshire SN15 3EU

Investment Managers

M&G Charities, PO Box 9038, Chelmsford, CM99 2XF.
CCLA, Senator House, 85 Queen Victoria Street, London, EC4V 4ET.

CALNE WELFARE CHARITIES

Trustees' Responsibilities in relation to the Financial Statements

The charity trustees are responsible for preparing a trustees' annual report and financial statements in accordance with applicable law and United Kingdom Accounting Standards ( United Kingdom Generally Accepted Accounting Practice).

The law applicable to charities in England and Wales requires charity trustees to prepare financial statements for each year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources of the charity for that period. In preparing the financial statements, the trustees are required to:

select suitable accounting policies and then apply them consistently.
observe the methods and principals in the applicable Charities SORP;
make judgements and estimates that are resonable and prudent.
state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements.
prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in business.

The Trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity and to enable them to ensure that the financial statements comply with the Charities Act 2011, the applicable Charities ( Accounts and Reports) Regulations, and the provisions of the Trust deed. They are also responsible for safeguarding the assets of the charity and taking reasonable steps for the prevention and detection of fraud and other irregularities.

The Trustees are responsible for the maintenance and integrity of the charity and financial information. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.

Approved by the Trustees on and signed on their behalf by:

Jessica Pillow Chair of Trustees

CALNE WELFARE CHARITIES

Independent Examiners' Report to the Trustees of the Calne Welfare Charities

I report on the financial statements for the year ended 31 March 2025, set out pages 8 to 16.

Respective responsibilities of Trustees and Examiner

The charity's trustees are responsible for the preparation of the financial statements. The Charity's trustees consider that an audit is not required for this year (under Section 144(2) of the Charities Act 2011 ( the 2011 Act)) and that an independent examination is required.

It is my responsibility to:

-examine the financial statements under Section 145 of the 2011 Act.

-to follow the procedures laid down in the General Directions given by the Charity Commission (under Section 145(5)(b) of the 2011 Act); and

-to state whether particular matters have come to my attention.

Basis of the Independent Examiner's Report

My examination was carried out in accordance with the General Directions given by the Charity Commission. An examination includes a review of the accounting records kept by the charity and a comparison of the financial statements presented with those records. It also includes consideration of any unusual items or disclosures in the financial statements, and seeking explanations from you as trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently no opinion is given as to whether the financial statements present a 'true and fair view' and the report is limited to those matters set out in the statements below.

Independent Examiner's Report

In connection with my examination, no matter has come to my attention:

1) which gives me reasonable cause to believe that, in any material respect, the requirements

-to keep accounting records in accordance with Section 130 of the 2011 Act; and -to prepare financial statements which accord with the accounting records and to comply with the accounting requirements of the 2011 Act

have not been met; or

2) to which, in my opinion, attention should be drawn in order to enable a proper understanding of the financial statements to be reached.

Barry Jackson, Oak Leaf Accountancy Limited Calne, Wiltshire, SN11 9RB

CALNE WELFARE CHARITIES

Statement of Financial Activities for the year ended 31 March 2025

note Income Incoming resources from charitable activities: Maintenance Contributions, Heating & Service Charges from Almshouse Residents Voluntary Income: Donations receivable 3 Investment income 4 Transfer to income Total Income Expenditure Expenditure on charitable activities: Almshouse property costs 5 Governance costs 6 Support costs-Management 6 Grants for Advancement in Life 5 Grants for Relief in Need 5 Total Expenditure Net incoming/(outgoing) resources before gains/(losses) on investments Other recognised gains/losses: Net gains/(losses) on investment assets 13 Net movement in funds Reconciliation of funds Total funds brought forward Total funds carried forward 13	2025 2024 Unrestricted Endowment Total Total Funds Funds Funds Funds £ £ £ £ 27,521 - 27,521 25,502 4,751 - 4,751 3,599 3,226 3,226 3,122 - -
	35,498 - 35,498 32,223
	22,284 - 22,284 16,360 9,154 - 9,154 1,257 305 - 305 267 1,549 - 1,549 3,245 1,667 - 1,667 6,747
	34,958 - 34,958 27,876
	540 - 540 4,346 26,883 - 26,883 26,868
	27,423 - 27,423 31,215
	496,014 - 496,014 464,800
	523,438 523,438 496,014

CALNE WELFARE CHARITIES

Balance Sheet As at 31 March 2025

Notes Fixed Assets: Tangible assets 7 Investments 8 Total Fixed Assets Current Assets: Debtors 9 Investments 10 Cash at bank and in hand 11 Total Current Assets Liabilities: Creditors falling due within 12 one year Net Current Assets Net Assets The Funds of the Charity: Endowment Funds: Permanent Endowment 13 Unrestricted income funds 13	2025 2024 Unrestricted Endowment Total Total Funds Funds Funds Funds £ £ £ £ 7,665 - 7,665 7,665 - 8,239 8,239 8,205
	7,665 8,239 15,904 15,870
	416 - 416 750 504,826 - 504,826 457,977 5,643 - 5,643 24,815
	510,885 - 510,885 483,542 3,351 - 3,351 3,398
	507,534 - 507,534 480,144

	515,199 8,239 523,438 496,014
	- 8,239 8,239 8,205 515,198 - 515,198 487,809
	515,198 8,239 523,438 496,014

The notes at pages 10 to 16 form part of these financial statements

The financial statements were approved by the Board of Trustees on and were signed on its behalf by:

Deirdre Aldhous- Trustee

Jessica Pillow-Trustee

CALNE WELFARE CHARITIES

Notes to the Financial Statements for the year ended 31 March 2025

1 Accounting Policies

a. Basis of preparation and assessment of going concern

The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities, preparing their financial statements in accordance with the Financial Reporting for Smaller Entities published on 16/7/14, the Financial Reporting Standard for Smaller Entities (FRSSE), (effective from 1 January 2015) and the Charities Act 2011 and applicable regulations.

The financial statements have been prepared under the historical cost convention with items recognised at cost or transaction value, unless otherwise stated in the relevant notes to these financial statements.

b. Funds Structure

Unrestricted income funds comprise those funds which the Trustees are free to use for any purpose in furtherance of the charitable objects. Unrestricted funds include designated funds, where the Trustees, at their discretion have created a fund for a specific purpose.

c. Income recognition

All income is recognised once the charity has entitlement to income, there is sufficient certainty of receipt and so it is probable that the income will be received, and the amount of income receivable can be measured reliably.

Maintenance and light & heat contributions from Almshouse Residents are credited to the Statement of Financial Activities on an accruals basis.

Donations and grants receivable are recognised when communictaion is received in writing with notification of both amount and settlement date.

Investment income is credited to the Statement of Financial Activities on an accruals basis.

d. Expenditure recognition

Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that settlement will be required and the amount of the obligation can be measured reliably.

All expenditure is accounted for on an accruals basis. All expenses, including support costs and governance costs, are allocated to the applicable expenditure headings in the Statement of Financial Activities. -Charitable expenditure comprises those costs incurred by the charity in the delivery of its actvities and services for its beneficiaries. It includes both costs that can be allocated directly to such activities and those of an indirect nature necessary to support them.

Grants payable are payments made to third parties, in furtherance of the charitable objects of the Charity, being for the Relief in Need and in Advancement of Life.

-Governance costs include costs associated with meeting the constitutional and statutory requirements of the charity and include independent examination fees and costs linked to management of the charity. -All costs are allocated between the expenditure categories of the Statement of Financial Activities on a basis designed to reflect the use of the resource. Costs relating to a particular activity are allocated directly; others are apportioned on an appropriate basis, such as estimated time spent on each activity.

Irrecoverable VAT is charged against the expenditure heading for which it was incurred.

CALNE WELFARE CHARITIES

Notes to the Financial Statements for the year ended 31 March 2025

e. Tangible Fixed Assets

Information relating to the original cost of the Almhouses is not readily available and accordingly only the costs of improvements are treated as additions to tangible fixed assets, less Local Authority grants received.

Depreciation is not chargeable, as the properties are maintained in a state of repair such that their estimated residual value is not less than their improvement cost, or carrying amount.

f. Fixed asset investments

Investments are initially recognised at their transaction value and subsequently measured at their market value at the balance sheet date, using the closing quoted market price. The Statement of Financial Activities includes the net gains and losses arising on the revaluation and disposals throughout the year.

The Trust does not acquire or use put options, derivatives or other complex financial statements.

g. Realised gains and losses

All gains and losses are taken to the Statement of Financial Activities as they arise. Realised gains and losses on investments are calculated as the difference between sales proceeds and their opening carrying value, or their purchase value, if acquired subsequent to the first day of the financial year. Unrealised gains and losses are calculated as the difference between the fair value at the year end and their carrying value. Realised and unrealised investment gains and losses are combined in the Statement of Financial Activities.

h. Taxation

The charity is exempt from Income and Capital Gains tax on its charitable activities

2 Related party transactions and Trustees' expenses & remuneration

The Trustees all give their time and expertise without any form of remuneration or other benefit in cash or kind. (2025: £nil).

No expenses were paid to the trustees in the year. (2025 £nil).

3 Donations Receivable Calne Advancement in Life Charity Calne Relief in Need Charity 4 Investment income Dividend income Allocated to: Calne Advancement in Life Charity Calne Relief in Need Charity	2025 £ - 4,751 4,751 £ 3,226 1,810 1,416 3,226	2024 £ - 3,599
		3,599
		£ 3,122
		1,750 1,372
		3,122

CALNE WELFARE CHARITIES

Notes to the Financial Statements for the year ended 31 March 2025

5 Analysis of Charitable expenditure Almshouse property costs: Insurance and utilities General repairs and maintenance Cyclical repairs and maintenance Website costs Analysis of Grants payable: Grants in Advancement of Life Grants for Relief in Need 6 Analysis of Goverance and Support costs Support costs: Administration and sundry costs Subscriptions and seminar costs Governance costs: Independent examiner's remuneration Legal expenses 7 Tangible Fixed Assets Property: Cost At 1 April 2024 and 31 March 2025 Improvements Less: Grant Depreciation At 1 April 2024 and 31 March 2025 Net Book Value At 1 April 2024 and 31 March 2025	2025 £ 5,899 6,297 9,427 660 22,284 2025 £ 1,549 1,667 2025 £ 30 275 305 1,298 7,856 9,154 2025 £ 16,900 (9,235) 7,665 - 7,665	2024 £ 5,386 6,900 3,414 660
		16,360
		2024 £ 3,245 6,747
		2024 £ - 267
		267
		1,257 -
		1,257
		2024 £ 16,900 (9,235)
		7,665
		-
		7,665

There is no record of the original cost of construction of the Almhouses at 10-13 Kingsbury Street, Calne and no value is attributed thereto. Improvements relate to costs incurred since 1972, less funding by a Local Authority Grant. The balance of £7,665 was funded by the charity by transfer of unrestricted funds, to a Designated Improvements Fund

CALNE WELFARE CHARITIES

Notes to the Financial Statements for the year ended 31 March 2025

8 Fixed Assets Investments Permanent Endowment Market Value At 1 April 2024 Additions to investments at cost Disposals at carrying value Add net gain/(loss) on revaluation At 31 March 2025 The investments compromise: CCLA -COIF Income Fund M&G -NAACIF Income Fund Allocated by Fund: Calne Advancement in Life Charity Fund Calne Relief in Need Charity Fund	2025 £ 8,205 - - 34 8,239 2,334 5,905 8,239 1,885 6,354 8,239	2024 £ 7,886 - - 319
		8,205
		2,437 5,767
		8,205
		1,852 6,353
		8,205

The original cost of fixed assets investments is £3,190. Gain on cost as at 31 March 2025 is £5049

9 Debtors: Amounts falling due within one year Arrears of Maintenance Contributions Prepayments and accrued income	2025 £ (776) 1,192 416	2024 £ (219) 969
		750

CALNE WELFARE CHARITIES

Notes to the Financial Statements for the year ended 31 March 2025

# Current Asset Investments Market Value At 1 April 2024 Additions to investments at cost Add net gain/(loss) on revaluation At 31 March 2025 The investments compromise: CCLA -COIF Income Fund M&G -NAACIF Income Fund M&G -NAACIF Accumulation Fund Allocated by Fund: Almshoue Cyclical Repairs and Maintenance Fund Extraordinary Repair Fund Calne Advancement in Life Charity Fund Calne Relief in Need Charity Fund	2025 £ 457,976 20,000 26,850 504,826 27,515 47,935 429,376 504,826 107,014 322,361 44,154 31,296 504,826	2024 £ 431,428 - 26,548
		457,976
		28,734 46,818 382,425
		457,976
		104,323 278,102 44,055 31,497
		457,976

All investments are carried at their market value. Holdings in common investment funds are valued at their mid price. Asset sales and purchases are recognised at the date of trade at cost (being their transaction value). During the year £ 23,160 of cash held within the Cyclical Repair Fund was invested into the M&G-NAACIF Accumulation Fund.

The original cost of Current assets investments is £117,562. Gain on cost as at 31 March 2025 is £387,264

# Cash at Bank Bank-Current accounts Allocated between funds: Calne Almshouse Charity Fund Cyclical Repair and Maintenance Fund Extraordinary Repair Fund Calne Advancement in Life Charity Fund Calne Relief in Need Charity Fund # Creditors: Falling due within one year Other Creditors and Accruals Maintenance Contributions paid in advance Residents' Deposits held	2025 £ 5,643 £ 4,489 - - 3,331 - 4,485 5,643 £ 625 1,350 1,376 3,351	2024 £ 24,815
		£ 67,798 7,403 - 31,733 - 3,590 - 257 -
		24,815
		£ 684 1,337 1,376
		3,398

CALNE WELFARE CHARITIES

Notes to the Financial Statements for the year ended 31 March 2025

# Analysis of Charitable Funds

Analysis of Charitable Funds
	As at					Gains and	As at
31	March 2024	Income	Expenditure		Transfers	losses	31 March 2025
	£	£	£		£	£	£
Movement of Funds:
Permanent Endowment	8,205	-	0		-	34	8,239
Unrestricted Funds:
i) Calne Almshouse Charity Fund	65,835	27,521	(31,743)		(59,710)	-	1,903
ii) Cyclical Repair and Maint Fund	96,921	-	-		2,649	7,444	107,014
iii) Extraordinary Repair Fund	246,369	-	-		56,486	19,507	322,362
iv) Calne Adv in Life Charity Fund	40,464	1,810	(1,549)	-	1	99	40,823
v) Calne Relief in Need Charity Fun	30,556	6,167	(1,667)		576	(201)	35,431
vi) Designated Improvements Fund	7,665	-	-		-	-	7,665
	496,014	35,498	(34,958)		-	26,883	523,438

The Permanent Endowment Fund relates to investments provided to the charity, with the express purposes of generating an annual income for the charity, to use in accordance with its aims and objectives.

Unrestricted Funds:

Calne Almshouse Charity Fund

Fund to manage and maintain the Charity's Almshouses and provide accommodation to Almspeople, resident in the Parishes of Calne, Calne Without, Bremhill and Highworth, in the county of Wiltshire, which is referred to as the 'area of benefit' shown below.

Cyclical Repairs and Maintenance Fund

The charity has established a regular programme of transfers to a cyclical property repair reserve fund, in anticipation of significant repair, renewal and maintenance costs incurred on a cyclical basis, i.e. at infrequent intervals, which is not deemed general/annual repairs and maintenance.

Extraordinary Repair Fund

The charity has established a regular programme of transfers to an Extraordinary Repair reserve fund, in anticipation of future extraordinary property repair liabilities.

Calne Advancement in Life Fund

Fund to assist persons who have not attained the age of 25 years, resident in the 'area of benefit', who are in need of financial assistance and who are preparing for, entering upon, or engaged in any profession, trade occupation, or service, by providing them with outfits, or by paying fees, travelling or maintenance expenses. Or by such other means, for their Advancement in Life, or to enable them to earn their living as the Trustees think fit.

-promoting education, (including social and physical) of those such persons referred to above.

CALNE WELFARE CHARITIES

Notes to the Financial Statements for the year ended 31 March 2025

Calne Relief in Need Fund

Fund to relieve either generally or individually persons resident in the 'area of benefit', who are in conditions of need, hardship or distress, by making grants of money or providing or paying for items, services of facilities calculated to reduce the need, hardship or distress of such persons.

Designated Improvement Fund

Designated property improvement fund, which represents the funding of property improvements to the Almshouses less Local Authority grants received.

# Analysis of Funds by Asset type

Permanent Endowment Unrestricted Funds: i) Calne Almshouse Charity Fund ii) Cyclical Repair and Maintenance Fund iii) Extraordinary Repair Fund iv) Calne Advancement in Life Charity Fund v) Calne Relief in Need Charity Fund vi) Designated Improvements Fund	Fixed Investments Bank Debtors/ Total Assets (Creditors) £ £ £ £ £ 8,239 - - 8,239 - - 4,489 2,586 - 1,903 - 107,014 - - 107,014 - 322,361 - - 322,361 - 44,154 3,331 - 40,823 - 31,296 4,485 350 - 35,431 7,665 - - - 7,665
	7,665 513,065 5,644 2,936 - 523,438

# Ultimate Controlling Party

The Trustees consider that the charity is jointly controlled by the Trustees. There is no ultimate controlling party.

CALNE WELFARE CHARITIES

Calne Almshouse Charity Detailed Statement of Financial Activities for the year ended 31 March 2025

Calne Almshouse Charity Detailed Statement of Financial Activities for the year ended 31 March 2025
	2025		2024
	£	£	£	£
Income
Incoming resources from charitable activities
Maintenance Contributions	23,640		21,977
Light and Heat	3,881		3,525
		27,521		25,502
Total Incoming resources		27,521		25,502
Expenditure
Expenditure on charitable activities
Insurance	1,131		1,082
Electricity and Gas	3,799		3,452
Council Tax	-		-
Advertising & Marketing (website)	260		300
Water rates	969		853
Repairs, renewals and cleaning	15,724		10,310
General Expenses	-		4
IT Software & Consumables	400		360
Website costs
		22,284		16,360
Governance costs
Accountancy and Independent examination		1,298		1,257
Legal Expenses		7,856		-
Support costs-Management
Remuneration of Trust Secretary
Administration and sundry expenses	30		-
Subscription and seminars-National Almshouse Assoc	275		267
		305		267
Total resources expended		31,743		17,884

Net Income/(Expenditure) before transfers to funds		(4,222)		7,617

CALNE WELFARE CHARITIES

2025 £ £ - - 1,810 1,810 - 700 399 450 - 1,549 261	2024 £ £ - - 1,750 1,750 2,000 - - - 1,245 3,245 (1,495)	2024 £ £ - - 1,750 1,750 2,000 - - - 1,245 3,245 (1,495)
- 700 399 450 -	2,000 - - - 1,245
		1,750
		3,245

		(1,495)

CALNE WELFARE CHARITIES

Calne Relief in Need Charity Detailed Statement of Financial Activities for the year ended 31 March 2025

2025 £ £ - 251 300 4,200 4,751 1,416 6,167 - 100.00 100.00 25.00 21.50 300.00 120.00 350.00 - - - 250.00 - - 1,266.50 400.00 4,501	2024 £ £ 132 891 376 2,200 3,599 1,372 4,971 3,674 - - - - - - - 250 380 320 150 793 900 6,467 280 (1,776)	2024 £ £ 132 891 376 2,200 3,599 1,372 4,971 3,674 - - - - - - - 250 380 320 150 793 900 6,467 280 (1,776)
- 100.00 100.00 25.00 21.50 300.00 120.00 350.00 - - - 250.00 - -	3,674 - - - - - - - 250 380 320 150 793 900
		4,971
		6,467 280

		(1,776)

CALNE WELFARE CHARITIES Investment Performance Year ended 31 March 2025

			Unit Value		Capital	Dividend	Total	Total
			31/03/2025	31/03/2024	Appreciation	in year	Return	Return
			pence	pence	(Depreciation)		2025	2024
					in year
CCLA	COIF Charities Ethical Investment Fund (from 2/7/21)	Income units	296.61	309.75	-4.24%	2.9%	-1.4%		5.8%
M&G	Charity Multi Asset Fund ( from 15/11/19)	Income units	93.08	90.91	2.39%	4.2%	6.6%		3.2%
M&G	Charity Multi Asset Fund (from 15/11/19)	Accumulation	12,256.35	11,460.81	7.05%	**	7.1%		4.3%
		units

** Notional dividends re-invested and reflected in the unit value.

Analysis of Investments by Fund:			CCLA		M&G		M&G	Total	Total
			COIF		Charity		Charity	As at 31-3-25	As at 31-3-24
					Multi Asset		Multi Asset
	Units		Income	Units	Income	Units	Accumulation
			£		£		£	£	£
Permanent Endowment
i) Calne Advancement in Life Charity Fund		52.50	156	1858	1,729		-	1,885	1,852
ii) Calne Relief in Need Charity Fund		734.40	2,178	4486	4,176		-	6,354	6,353
		786.90	2,334	6,344.00	5,905		-	8,239	8,205
Unrestricted Funds:
i) Cyclical Repair and Maintenance Fund		-	-	-	-	873.13	107,014	107,014	104,323
ii) Extraordinary Repair Fund		-	-	-	-	2,630.16	322,362	322,362	278,102
iii) Calne Advancement in Life Charity Fund		4,638.35	13,758	32,656.00	30,396	-	-	44,154	44,055
iv) Calne Relief in Need Charity Fund		4,638.35	13,758	18,842.35	17,538	-	-	31,296	31,497
		9,277	27,516	51,498.35	47,935	3,503.30	429,376	504,827	457,976
		10,063.60	29,850	57,842.35	53,840	3,503.30	429,376	513,066	466,181