Charity regbtrallon ftumbor 205825 {England and Wales} THE BEAUMONT CHARITY ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 25 MARCH 2025 THE BEAUMONT CHARITY LEGAL AND ADMINISTRATIVE INFORMATION 8teeB R J Kerr (Chaimanl EWHClark Mrs L Phillip8 G Holmgs R¢v HA Bryan H Wilson Charity numbèr (England and Wal9$1 205825 Independent examinor Moore ISDUth) LLP 33 The Clarendon Centre Salisbury Bu8lness Park Dairy Meadtsw Lane Salisbury Willshlre SP12TJ Bankers HSBC Bank 81 Tumer5 Hill Cheshunt EN8 9BA THE BEAUMONT CHARITY CONTENTS Page Tru81ee8' report Slatemont of Irusle8s' responsibilllies Independent examine¢s report Sl8tem8nl of finanoal aGlivities Balance sheet Notes to th8 finawal statements THE BEAUMONT CHARITY TRUSTEES, REPORT FOR THE YEAR ENDED 25 MARCH 2025 The trusteès present IheSr annual report and finanaal stattrments for the year ended 25 Mer¢h 2025. The financial slalements have been prepared in accordance with the a¢coun*ng policies set out in nol8 1 to the fnancial statements and comply with the tharity's Trust Deed, the Ch8rf1ies Act 2011 and 'ALu)ur5tJng and R0POrting by Charilies.- Slalemenl of Recommended Pra(1Sce appllcable to charfties preparing Iheir aErounls in accordan￿ with the Finan¢ig1 Reporting Standard apptsLxble in the UK and Republic of Ireland IFRS 1021 {effective 1 January 20191" The Trustees during th8 year and Ihelr appoinling bo(lywhere appropriate were.- R J K8N (Chaimian} EWHClark Mis L Phillips G Holme8 Rev E Hanshaw Rev H A Bryan H Wlson {Resiwed 10 June 20241 Miss L Russell (Cl¢rk & Rec8iverl Appointed by the Trustees 1 June 2018 and relain8d on a rnonthly fee Struthre. govgrnance and managemènt Thg Charity's day-to-day businè88 is c(>ordinated by the Clerk and Recelver and as approprfalè, In consuttation with the Chainnan. The Board of Trustees meet on 8 quarterly basis (or more ftequenly rf needed) lo discuss the trusvs affairs. In addition. a Financa Commilteo cotnprjsing of R K Kerr. E W H Clari Rev kl Bryan. G Holmes 8nd the c￿rk an¢J R6celver meets quartedy lo review the charity's budget and financial poslllon. The 8ppoinlmgnl of th8 Iruslees is gov8rned by the Scheme of the CharTty Commlsslon dated 19April 2004 {Ihe prèsent scheme - amended 13 February 2024). There should be seven Co￿pIed tnJslee$. The trustees are electsd at ordinary mèetings of the trust and once apwinled shall b6 èntitled b hold offlee frjr Iirg. The trustees are given trainlng if requested and attend relevant coursès and seminars as appropriate lo Ihgir fDle within the Charty. The provision of almshouses in Cheshunl dates bad( to 1624 whèn lQng James I paid the sum of £5CxJ as compensation lo the parishioners of Cheshunt for a large piece of Cheshunt Commn he wishod to acquire lo èxtend Theobalds Park. £320 Of this sum was used lo purchasa f8miland in Nazeing. The remaining £180 w85 used lo build ten almshouges at Tumerfs Hill for poor wdows. In 1797, it may be of interest to kfttsw that the rent frorn the ￿88* of the farmland in Nazeing and in(x)rne from other Charit￿S w8s able to provide the 10 wdiythys with tho princely sum of 4 guineas every quarter, half a cauldron of coal a ygar and 6d a week each in breadl The Charity also owned almshouses at Spittalbrook in Wdttharn Cross which wer8 demdished when the M25 was built. The Lx)mpensab"on, logeth&r with a loan (now discharged) from the Huusing Corporation, enabled Ihe Charity lo LMJild 12 flats at Homeleigh Court in CheshunL 11 is not known how the Beaumont Charity got its name, but the conjecture is that il arosg fr(Jm the principal parts of the lands lying al a placè ￿lled Beaumont Gre8n, and il 1$ po￿lb(e that the lords of the manor of 8eaumont were benafa¢tors to and promoters ofthe Charity. THE BEAUMONT CHARITY TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 25 MARCH 2025 The Beaumont Charlty is wulated by a Scheme of the Charity Commissioners dalod 18 July 1 8$ affectad by schemtss of the Commissioners of 28 April 1959. 11 January 1966, 7 March 7960 and 19 April 2004 (tho present s¢heme). The registered address of the Beaumont Charity is 16 Lamdmead Road Cheshunl Herts EN8 9HP. The Charity registration number is 205825. Admlntstratlon d•tai1s The Ch*it*s banker Is the HSBC Bank at Tumers Hill, CheshunL The independent examiner is Robert M8cdonald, FCCA, Mooie (South) LLP. 33 The C18rendon Centra, Salisbury Business Park. D8iry Meadow Lan8, Salisbury Imltshire SP12TJ. Obj￿tiveS and activlllos The Charity continues to provlde 8¢0)mmodallon fot residents of the Parish of Cheshunl who ar& in need. eitheT financially 01 so¢ially. and who are nol18ss than 60 years of age (except in spedal cases lo ba appointed by the Cornmissionersl. These prowsos w8re amended al a meeting of th8 Ini8tees in May 2013 10 indude Cheshunt residents who had move¢S away awKI Yrdnted to relum and Cheshunl residents who wanted to move their elderly parents inlo the area to provlde famity car8. The Chaiity owns 40 widenees. Eath resld8nt pays a weekty contribvtlon towards the mainlenanca and essential Se￿I¢9S of the propertl88 and a contribution toward$ the cost of heating. fighting. water and carelSne. The trustees conti￿e to revise resident maintenance wntributmjns upwards to move away trom reliance on investment incorn8. Achlevomants and perfomiance In June the charity celebrated the A￿lent Almshouses, 400th blrthday and a r8sSdenV$ 100th birthday. A marqu88 was elected in tho grounds of the Tumers Hill si18 and 8 party held. Re8idefils of both sit8s, tru81ees pasl and present, contractors, loca] counallors and the Mayoi of Broxboume. ¢eiebraled with an aft8moon tea and enjoyed each otherfs ry)rnpany long into the evening. In addilion to the pavty, artides about the Beaumont Charity aknshouses were placed in the lo(zl paper. the resident magazlne publish8d by Broxbourng Dlstricl Council and Axis Magazin8- 8 Iotxj gthde to East Hert5. There were a150 displays in Cheshunt Library, Lowewood Museum and Hertfordshlre Archives. The thaiity continues to iefuTblsh and modemise its aw)mmodalion both when a property becomes vacant durfng occupancy. Works this year have induded: 10 The Almshou$98- Complete refurbishrnenl includlng new kitchen 8rn1 wel room. Redecoratton and new floor covering Ihroughoul. 13 and 23 The Almshousgs- Redecoration throughoul new ffoor Co￿1ng3. 11.13 &18 TheAJmshouses and 6 Homeleigh Court- New lQlchens 6 The Almshouses - New wel rooin including new flooi covering 11 Homèleigh court- Be(ItODrn redecorated 10.13.19,23 TheAtmshou8es - Naw hot water cytinder3 2,7.9 Homeleigh Court- New Boilers 1 Hom8lelgh Court- New radiators InstaNed throughotrt Iho Property The Turners Hlll gue51 room was ctearod an¢J iefflodelled into 8 me81ing r¢)omloffice and 3tor8. It was redecorated and a new toilel, washbasin and heater waro installed. In addition, it had new floor covettngs. heating and fuffliture. The charity ts wailing for the building lo be given an offi¢lal a{kIre￿ so Ihat it C9n be used a5 the Charbty's Head Ol￿Addr&s8. The fronla9e of the Ancient Alm3hovse8 was significanuy improvod by over dadding the e￿$ting facAa and sofffts wilh a mah¢gany effect boarding arKt r¢pla¢lng the drainpipes and gutters wilh look81ike iron cast deep thannpl guttering. New lighting w3$ a150 installed. The rear of the AncAenl AJm5houses were also rgmodelled using treUi8 to deMan￿e and ¢oncea] bin areas and provide 8 seating area each resident away from the bins. THE BEAUMONT CHARITY TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 25 MARGH 2025 The Horneleigh Court foul water •Jrains were all Survey￿ and rppaired. The charity continuos vmth worf(s related to its fire risk assessment. Signrficant works this year induded ensuring all cupboard door8 at Homeleigh Court had intumescent stn.ps and wood cladding on Ihe c¢ilin9s of ¢ommynal pgssage5 were coated in fire retardant varnish. Flnancial review The allathed finanaal statements show the CLwrerFt state ofthé financ8s wh￿h the trustees consider to be Sound. Revenues hava Increa8ed slighlty due to ￿￿ease In contributions from o¢cupiers. Specific policies established by th8 trustees are set out below. It becam8 dear lo the trustees that the alrnshouses wer8 being too heavily subsfjdised and CLMlribulions were not inline with Ihoso r0￿mMended by the Almshouse Association. Therefore the Iruslees have implem¢nled Changes for 202&26 onwards to ensure resident contributions more dosely ￿semble the c05t of maintaining the almshouses and grounds and thal unexpected costs do not result in an overall deficit. Investment Policy The charft￿$ inveslmènl policy is generalty not to allow interest and dividends from invastsnents lo accumuL8ts but to usè them in fuffilllng the Charity's obl￿tives. The funds were moved in 2024f2025 and are now wfth an Investment Management company to Improve e2pital growth and inojme. The trustees re￿eW the perfomiance ofthe Charl￿S investm8nts at 8ach Finance Committ8B meating. ReseThes Po15cy Reserves are split into permanent (*pital {£378.890}, revenue reserves 1£2,215,7911 and restricted ieserves (£3,3101. The pemanent capital represents funds that rnusl be held permanentty by the Charity. 11 repre¥ents proceeds from the saje of endowed propety and shares. The pemianenl capital shown In the Flnandal Slalemenl8 8s Perrnanenl Endowment Funds, was used lo finance part of the freehold land ond buildings. Revenue Reserves shown as Uftrastrtcled Funds can be sptil as represenung part of the freehokl Ignd gnd buildings and general r&sgrves. The gongral rgserves are used lo fund the day to-day operation of the trust and malntain reservos for unexpectedldisaster recovery event8. These funds are invested In cash and other fvnd8 which can be ea81￿ reali58d. Th9 Irustegs recognisgd that there18 a sub8tanffj81 sum of money avallable lo meet exceptional one-off repalr8. However, th8 trus18es hav8 a proa¢tivg approach lo propety checks and maintenance and therefore no longer consider the need lo hold or conlrtbule to a specM¢ fund for thls type of event. The Cyclical Maintenance Fund remain5 and cash held on an instant acrkss deposit account. It is hoped that cydical repairs can be mel from in year malntenance contributions and over time a CMF reserve wll be acryjmulated for larger piojec*& Principal Risks and Un¢ertaintie$ All rfsks to the Charity were again re￿awed in 2024r25 and rlsk managornenl continues to foBus on 8very aspect of the day-IoThday saf8ty. maintenance and running of IhB FKopartias and th8ir grounds at th& locations. The Chadty has o wejkdgvgloped Hoallh and Safety plan and lo9 whlch gnsures all concems are re￿rded and appropriate action taken. This plan includes infomalion drawn from tho Fire Insp8cti¢)n, Fixed WirB Test, Asb88108 Report. Qulnquennial Reports 8nd the trustees own proactive monitoring. Public Bongfit The Trustees aGknovAedge tha duty to hav8 due regard lo th6 Charty Commission's p￿iShed gener￿ and relevant sub-sector guidance on public benefft. All activities undertaken by fhe Charity are for the public benefit. Wlh a focus on prowding accornrnodation for thos¢ residents who a￿ consiil¢red tu be In need, eilhor finanGially or SO￿ally. The Chaiitls operation is very much geared to providing benefrt to the local communty as hi9hli9hled by the activities reported herein. This will also continue lo be central to ils future plans. THE BEAUMONT CHARITY TRUSTEES, REPORT (CONTINUED FOR THE YEAR ENDED 25 MARCH 2025 Plan8 for Futur• Pèrlod$ The trustees will con￿nUe to maintsin the properties in good order and lo maintain ful ¢)ccupancy al an affordabk contribution Irom the residents and through careful management of investments lo ensuro thg long-temi comfort oltXCUP8nts. K•y Managgment Rernunoratlon Pollty The Trusl¢os are regarded as the key management of thè Chafity. They did Th)t receive r8munarallon or benefits in k￿￿. Golng Concern The Tfuslees assess whèlher Ihe use of going concern is appropriate, i.e. whether Ih8r8 8rè 8ny material lo events or wndthons that may ¢a$t significanl doubt on Ihe ability of Ihè Charity to continue as a going ¢oncem. The Trustees make this assessment in resped of the period. one year from the date of approval of the financial stalemenls. The Trustees condude that there are material uncertainties about Ihe Chanvs ability lo conlinu& ccordingly the ffinancial statemènts are prepa￿d on a going concem basis,. The ustees, report was approved by the Board of Twstee¥. rr Ichaimmnl Tru51 Dated.. THE BEAUMONT CHARITY STATEMENT OF TRUSTEES. RESPONSIBILITIES FOR THE YEAR ENDED 25 MARCH 2025 The IrustÈ8s am responsible for preparing the Trustèeg Report and the fman¢i81 statomènts in accordance with applicable law and Unf(ed Kingdom Accounting SlandaTds {Untted Kingdom Generally Accepted Ac(>Junling Pr8cAice). Th8 law applicable to charities in England and W8]es r8quire8 the trusle6s to prepare financial 81alements for each finanryal year which gTve a true and fair view of the stale of affaif$ of the tharity and of the inGoming re8ources and application of resources of the tharfty for that year. In preparing Ihese fin8wal statements, the trustees are required lo.. - selsct suitable a￿oUnting polici8s and then apply them consistent￿. - observe the methods and prlnaples in tha Charities SORP., - makejudgemenls and estimales that are reasonable and prudent., state whether applicable 8txounting Btandard8 have been followed, subject to any mateital dep8rtur8s disdosed and explained in the flnanclal slalements-, and prepare the financial statements on Ihe going concern basis unless rt 18 inappropriate to presume that Ihe thority will continue SA Oporation. The trust@￿ are responsible for keeping sufflaenl aC￿untIng records that disclose with reasonable aceuracy al any limè the financial position of the d)arity and enable them to ensure that the financ4al statements ￿mpty with the Charities Act 2011. th¢ Charity IA(tounts and Reports) Regulatlons 2008 and the provisions of tho twsl deed. They are also responsible for safeguardlng the assets of the charity and hen(* for laklng reasonable staps for the prevenUon and detection offraud and other iwularilies. THE BEAUMONT CHARITY INDEPENDENT EXAMINER'S REPORT TOTHE TRUSTEES OF THE BEAUMONT CHARITY I report lo the trustees on my examination of Ihe financial slatements of Th8 Beaumont Charity {Ihe ¢h8rity) for the year ended 25 March 2025. Rgsponslbllltlos and b•$ls of report As th& truste6s of the charity you are responsiLle foT the préparation of the firranctal statem8nts in aco)rdanrK wlth the requirernents of the Charities Act 2011. I report in respèct of my examinallon of Ihe charity'8 financAal statèments Ca￿¢j out under saction 145 of thg Chatilies Act 2011. In carrying out My examination I have follow8d Directions given by the Charfty Commission under soction 14515)(b) of the Chatflies Aci 2011. Indgpondent examln•rf$ Statement sin￿ tho charity's gross incowne exceed8d £250.OC￿1. Ihe indopendenl examinèr musl be a member of a body listed in sectiDll 145 of lh8 Charities Acl 2011. 1 confimi that l am qualified to und&rt8ke Ihe examination because 18m a member of FCCA, which is one of the listed bodies. I have completed my ex8minalion. I confim) that no matters hav8 corne to my aitenlion in connection with the exarninalion giving me cause lo believe that in any material respe¢t= accounting records were not kept In respect of the charity as r8quired by seclK)n 130 of the char￿e￿A¢t 2011. Ihe finand21 statements do not acurd with those rècords., or the finandal statements do not cxjmpty with tho applicable requirements (x)nceming the form and t￿ntant of financial slalements sel out in thè Charities (Accounts and Réports) Regulations 2008 olhgr than any requir8ment th81 the finandal stslemenls give a trt￿ and fair ￿ew. which is not a matter conslder&d as part of an ind&pendenl exominalion. I have llo concems and have Come auoss no other matters in connection w￿h the examin8tion lo which attenlion should be drawn in thSs report in order lo enable a proper understsnding of the finanoal slatsments lo be raa¢had. Uso of my roport Thls report ts rnade solely to the Charity's Trustees. as a body, ifj accordan￿ with Chapter 3 of Part 8 of the Charibes Act 2011. My examination has been undertaken 80 that I might slat8 to the Chai]￿S Trustees those matters l am required state lo them in an independent examiner's report and for no other purpose. To the fullest dbyl body, . I do not accept or Assume responsibilrty lo anyone other than thè Charty aFMI the Chaws my examination. for this fyport. orfor the opinions I have fomied. ees as Moorè (South) LLP 33 Thè Clarendon Centre Salisbury Businass Park Dairy Meadow Lan¢ Salisbury Itshire SP12T * ¢4 wJo> voln o) (o OJ cc OJ ¢y THE BEAUMONT CHARITY BALANCE SHEET ASAT25 MARCH 2025 2025 2024 Notas Fixed assets Tangible assets Investments 13 14 1,032.030 1.566,468 1.032.030 1,554.665 2,598.498 2.586.895 Currant assgts Debtots Cash at bank and In hand 16 2,296 9.902 1,898 58.864 12.198 60.782 Crodltors: amounts falling duè withln one year 16 (12.905) (20.932) Nèt currènt Iliabllitiesllas$¢ts (707) 39.830 Total a88ets l•$$ turront IlablllUe8 2,597.791 2.626.525 Thè funds of the charity Endowrnent funds Restrlcted income fLM)ds Unrestricted funds 18 19 20 378,890 3.110 2.215.791 378.890 145,540 2.102.095 2.597.791 2.626.525 efin ndal slalements werè approved by Ihe truste￿ on ......................... RJKerr Trustee Chaimian) THE BEAUMONT CHARITY NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 25 MARCH 2025 A¢¢ounttng pollclgs Charlty lrtformation The Beaumont Charity is an unlncorporaled charity, regtslered in England and Wales. The reglstered offi¢e addr￿ 15 16 Landrnead Road, Cheslnul, Waltham CrL¥SS. EN8 9HP. 1.1 Accountlng convention The ffnanclal statamants have bean prèpared In at￿rdance the chari￿$ Trust Deed. the Charities Ad 2011 8rKI 'ALxounling and Repoitng by Ch8ritiès= Statement of Recommended Practic8 applie2bl@ to ¢h8rities preparing their ac￿Unts in accx)NJance with th8 Finand81 Reporting Standard appllcable in th8 UK and RepU￿1C ot Ireland IFRS 1021 {effectNe 1 January 20191" The charity is a Public Be￿ttl Enuty 8$ define4J by FRS 102. The ffinan￿al statements have d8parted from the Charities (Accounts and Reports) RegulatK)ns 2008 only to Ihe extent required lo prowde a true and fair view. This departure has involved folloving the Statement of Re￿mmended Practi￿ for charitie5 applying FRS 102 rather than Ihe version of the Statement of Rec¢mmended Practice which is ￿ferred lo in the Regulations but which has since been Mthdrawn. The finanaal stalements are prepared in slerting, which Is the functional cwrency of the charrty. Monetsry amounts in these finanaal 81atetnenls are rounded to th8 nearest £. The fin8nryal Statements hav? been preparet1 under th8 historical cost convention mothfied lo Include th rèvaluation of investments and certain financial inslrum8nts 81 fair value. The prfneipal a¢￿Unting poliues adopted ar8 $61 out belc>w. 12 Golng ¢on¢èm The Trusl¢gs' assess whether the use of going concem is appropriate. i.E. whelher there are any tnat8rta] un￿rtaInlieS related to events or condthons th81 may cast signthcant doubt on the ability of Ihg Ch8r¢ty to ntinue as a going Con￿￿. The Trusteas, mxkÈ this assessment in respect of period of one year from the date of approval of the financial slalemenl8. The Trustees, conclude that there are no m8teri81 un(%rtaintie8 about the Charl￿s a>ilty lo continue and accordingly the finanGYal statemants 8rè propared on a going concern basis. They have (xjme lo this condusion by assessing the current level of reserves: working eapital requ1￿ments and anticipated commitments. 1.3 Charltabl• fund8 The nature and purpose of each fund Is explained in not8 16. 1A kncom• Income 18 recognlsed when the charity is legally entided lo it after any performance condNons have mel tho amounts be measured reliably. and11 Ss probable that Income wlll be received. Cash donatlons are recognised on roceipt. Oiher donaions are reo)gnlsed once the Gharily has been notifi of the donatlon, unlo&5 performancÈ condllions require deferral of tha amount. Income lax recoverable wi ielalion lo donatons rec8ived under GrftAid or doeds of covenant is r￿gnised at the thmo of the donatiDn. THE BEAUMONT CHARITY NOTES TQ THE FINANCIAL STATEMENTS ICONTINUED) FOR THE YEAR ENDED 25 MARCH 2025 Ac¢ounling poli¢ie$ Icontlnuedl 1ts Expèndituro Liabilities ate rewgnlsed as Bxpendilur8 as soon as thefe 58 a legal or construclwe objigalion commtitlng the charity lo that expenditure. il is prob8ble that settlefflent will be required and the amount of the Dbligation can be measured reliaily. All expenditure 18 ch4rged lo the Stat8ment of Fin8nial aclivilies on gn occruals ba$ls, indusive of any VAT. which ￿￿￿01 b8 recovered. The tharily has one activity, being the wovi8ion and running of th8 Almhou8es. All expens&8 (including governanc8 and support costs) ale attributed lo that charitable activity. All expenses are allocated directly to the applic8ble expendrture headings based on actual invoices recewabje. Support costs have bean allocated be￿een governanc8 oosts and other costs. Governance costs comprise all costs Involving the public accountability of the charjty and its ￿mpliance wlh regulation and good practice. No expenses requi1& apportionment bemeen the exp8nse headings. 1.6 Tanglbl• flxed 0$8ots Tangible fLxed assets are initialty mea8ured al cost and subs8qu8nlty moasured al cost or valuation. net of depreryalion 8nd any impawment losses. Depreciation is reo)gnlsed so as to ￿lIe off the cost or vatuation of ass8ts lass Ih8ir r8sidv4 values overtheir us8ful Iiv8s on the following bas8s-. F￿e￿(1d land and bLbildings FI￿re5 and ffitllngs Se8 below 10% StrakJht line basis The gain or loss arising on the disposal of an asset is determined as the difference be￿eeTr fhe sal8 procaeds and tha carrying va￿e ofthe as8eL and is recognised in the statement offinanctal activthg& Items costing more than £500 are capitali58d and carried in Ihe balancè shèèt at historical cost. As th? proporties arg maintained in a stale of repair such that Ihoir 8slima18d residual valu8 is not 18S5 than their improvernenl or developmanl cost. the annual ch8igè ￿ dèprouatiDn would be nil. 1.7 Fixed a$s¢t inY•stments Fixed asset inveslmenls a￿ irtili811y measured al transaction price exduding transaction c0515. and are subs8quÈntly measured al fair value al each ieporting dale. Changes in fair value are re￿gnised in net incomel(expendrfurel fortha year. Trans8Ction Costs are 8XP8ns8d as in(xJrred. All gasns and losses are taken to th& Slalemenl of Financial Adivilies as they arise. Realised gains and losses in investments are ialculaled a5 th8 diffeFerJce between sales proceeds and their opening carrying value or their purchase value rf acquiied subsequent b the first day of Ihe financial year. Unrealised gains and lossos are Calculated as Ihe difference between the fair value al the year end and their carrying value. Reali5ed and unrealised inveslmenl gains and losses are combined in the Statement of FinanaalActbvilte5. Tha Charity L*)es not acquire put option5, derivatives or olher complex financial instruments. The main form of financi81 risk fwl by the Charity is that of volatility in equity markets 8nd inveslmenl markets duè lo wider e¢onomrc conditions. the allilude of iwestors to inveslmenl risk and chwges in senlirnenl conceffling eqUIt￿S and within particulw se(aor8 or sutTrsedor8. 10- THE BEAUMONT CHARITY NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 25 MARCH 2025 Accounting pollGles (Continu￿) 1.8 Impalrn)8nt of fixed asBets At ea¢h reporting end dale, the chadty rov18WS the carrying amounts of 118 tsngibl8 assets lo determlne whethe¥ there is any indication that those a58ets have sUffe￿d on impairment loss. If any such indication exists. the recoverable ￿OUnt of the asset es1iwnal￿1 In order to detemiine the extent of the impairm9nl loss Irf any). 1.9 Cash and Cash equlvalents Cash and cash equivalents indude cash In hanfl. deposbts held al call ￿￿th banks, other short-t6rrn liquld investments wNh origin81 maturities of three months or18ss. and bank overdrafts. Bank overdrafts are shcwn within trrfjrrowings In ¢urr8nt li3bilities. 1.10 Flnanclal instruments The charty has elected to 8ppty tha provisions of SectTon 11 'Basi¢ Financaal Instruments, and Sactlon 12 'Oth&r Financial Instruments I$￿e$, of FRS 10210 all of its finanaal InslNments. Finanrial Instrumants ar8 reca)gnised in th8 c*aiiVs baante sheet when th• charity become¥ party to tha contractual provlslons ol thg inslrument. Financ4al assets and liabiliues are offset, with the net amounts presented In the finanGial statements, when thtsre Is a legalty etrforceable right to Sot off tho recognised amounts and thére is an intention to settle on a nèt basis orto reallse the asset and settle the liability slmultaneously. ¥$1¢ financial assets Basic finanaal assets, whlch indud8 debtor8 and rash and bank balance8, are inilialty measured at transaction pri￿ indudlng transaction costs and are 8ubsequently carried at amort18ed cost yslng the effedve interest method unless the arrangement ￿nStItUteS a flnancing transaction, where thg transartion is easured al the present valu8 of the fvlure recelpl$ disGountsd al a market rate of intere¥L Finan￿81 assets dassrfied as re￿Iva￿e within one year are not amortlsed. Bask IlnanciTalliabllftlos Basic finaneial liabililles, induding creditors and bank loans are initially recognised at transaGtion price unloss tho affangement constilulès a fin8ndng transadion, where the debt instrumonl is measured at the w88ent value of the future paym8nls discounted 81 a marfwm&nts 378.&JO 378,890 Pmioug yèar: At 26 March At 25 Ma￿h 2023 1024 PomHnent endov4ments 378,890 378.89) 18- THE BEAUMONT CHARITY NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 25 MARCH 2025 19 ReBtrictod funds The income funds of thè charity include the following r8stricted fvnds comprising the followkng unexpended balances of funds held on trust for spectfic purp0s8S-. At 26 March 2024 In¢oming Resourc¥$ re$our¢es expendpd Tran$feYs Galns and At 25 March losses 2025 Extraordinary Repair Fund Cydical M8intenancE Fund 124,370 {123,5781 2,318 3.110 21,170 (145,172) 123.578 424 145,540 (145,172) 2,742 3,110 Pr•vlous year: At 26 March 2023 Incomlng resources Resources èxpènd•d Transfers Galns and At 25 March losses 2024 Extraordlnary Repair Fund Cydical MaintenarKe Fund 115,648 5.691 (126.845) 126,845 3.031 124.370 21,170 21,170 138,818 5,691 (126.845) 126,845 3.031 145,540 Th8 natsJr8 of these funds is explained in note 16. Unrtttrlctsd funds At 26 March 2024 Incoming Rosources resour¢es expèndèd Tran*fe Galns and At 25 March lo$ses 2025 General funds 2.102,095 300,902 {183,554) 13,652) 2.215,791 Previous ygar. At 26 March 2023 Incomlng Resourc resourcos expended Transl8rn Galns and At 25 March lows 2024 General funds 2,071.856 258.125 1141,5871 1126,8451 40,546 2,102,095 19- THE BEAUMONT CHARITY NOTES TO THE FINANCIAL STATEMENTS {CONTINUED} FOR THE YEAR ENDED 25 MARCH 2025 21 Anatysi5 of net a8sets betw••n fund¥ Unffostrlctsd fundg 2025 Restrlcted Endowmènt fund fvndg 2026 2025 Totsl 2026 At 25 March 2025: TangI￿le assets Investments Current assetsl(liabilitiesl 653.140 1.563.358 (707) 378.890 1.032.030 1,5fj6,468 1707) 3.110 2.215.791 3,110 378.890 2.597.791 Unrostrfct9d Restrfcted Endowmont funds funds funds 2024 2024 2024 rotsl 2024 At 25 March 2024: Tangible assats InvgStm¢nts Current assetsl(liabilitiesl 1,032,030 1.030.235 39.830 1,032.030 1.554.665 145,540 378,890 2,102.095 145,540 378,890 2.626.525 22 Related party tran$actlong There were no disdos8ble related p8ty transacttons during Ihp year12024- none).