e>P
srEWART'S AND BUDGEN'S ALMSHOVSES
FINANCIAL STATEMENrs
FOR THE YEAR ENDED 31 DECEMBER 2023

'STewARfs AND BUDGEN'S ALMSHOUSES
For the year ended 31 December 2023
INDEX TO ThE FIPIANCIAL STATEMEtirs
Page
Assodatlon Infomiatlon
Report of the Trustees
24
Audltorfs report
Income arKI expendlture account
Balance sheet
Notes to the finandal statements
9-14

'STEWARfs AND BUDGEN'S ALMSHOUSES
For the year ended 31 December 2023
205886
HOMES tIlGLAND:
A3722
Mrs J Reyndds (Ch)inn In year)
Mw5 D 8ri&dl
Mr H Shjh
Mr R 8onk5
Mr5 C Sea
MrT SimmL
rsSLee
Mrs S Fordham {YegW 27Juty 2023>
Mrs A Edgar
Ms T Dallman (appolnted 7 July 2023)
Mr R P*)vrtillski (ap[¥)In￿￿ 14 Decemter 20231
Mr H Shah
Mr A I￿leY
77-79 H4h Street
E9ham
Sur
Ian S AThYers
Chartered Aecourtsnt &
Slatut(Ky Audltor
MaM1enhead
Be￿ShIre
SL6 4LW
BAMKERS:
Barrjays Bank PJ¢
210 m￿h Street
TW3 IDL
Horne Engel & Freeman
473 H￿h Street
TW20 9ES

. STEWARfs AND BUDGEN'S ALMSHOUSES
For the year ended 31 Decanber 2023
REPORT OF ThE TRusfEES
for the Year Ended 31 De4*mber 2023
The Trustees prEsent thelr rer*rt. whith IncorFthtes the requirtyr￿ts cl a strJtsgK Re[￿rt. tC#Jether wlth the
financial statements for the year ended 31 December 2023.
ConstAuUon and Prlnclpal Actlvlty
stewart's and Budgen's Almshouses rthe is a regi#ernJ social landlord with charltabbe statu5.
0￿gInatIng trust ¢Jeed was dated 16 October 1925 and was varied by schemes dated 12 January 1962 and 27
Januory 1966, as amende(l on 20 Febr￿ry 2020. The As9xiatson was registered with the Charity Commission in
englartd and Wales on 14 June 1962. The Ass(thtion is subject to regulation by HorT*S Errfjland and the
Regulator of Soaal HovsiThJ.
The A55¢oation provldes almshouses for sin9k ￿ wklowed women of not less than 45 years of age who
have been parlshloners or inhabitsnts of the Egham area fcf not bess than 20 years.
Maln polnts of Intere9tr
Thls revlew was written by JS11 ReyrKJd5. sadty pass8J away in Mar¢h 2024.
In the maln 2023 has been a fairly une￿ptIonol year for the c￿ty. wth one noticeable exceptlon. as ￿ted
below. Otherwise. ¥¥e have had full (Kcupancy and setued aThJ harrronlous groups of residents at sites.
Health issue5 have continued for several resth)ts but they have been ¥￿11 SLJPiKJrted by family and our two
Almshouse Trustees who show great Wisdom artd sknll in thelr ￿ntart with the residents. We are fortunate to
have suth dediuted Tnjstees.
The one diffiwlty we ha(J Tn 2023 was the rdpK11y deteriorating health and behavfjour of one residen¢
diagnos&J with dementia In 2022. This has been a situation ftr the Trustees and myself and the year hos
been a hard one as we endeaVOu￿ Inib"ally to sU￿￿*t the resident in her own almshouse but subsequently, for
her own safety, needed to work with the CourKil in re-housing her bn a sUlts￿e ca￿ home where she was safe.
The lengthy episode t(N)k its tdl on Twstees has fLtussed mLth thought and discusslon as we ackn¢)wledge
the IlkelihLX)d of a &mllar Incldent in the future with the ￿se in the Nmbers of those bdentyfied as havirwJ
dementia In the communlty.
Cydical ¢hecks and repalrs have been ctyiiplew sati¥•Xorily, our one remalning kltchen at the Pcdey Green
slte finlshed in for Chrfjstmas. The building5 are now in gK<x1 Sha￿ fr)r the coming years. in no small part
Ixcause ￿ our excelknt contractors but also ￿auSe of the th0￿gh arn1 routine health theck of all the
operties by our Trustees. Lee and Tlna Searte. Warm thanks to them ￿th.
Other re￿lUeS
Investment Incrxne for the year of £50.221 was up ty over 12¢h over last yearfs figu￿ of £44.625.
Portfolio values
Our investment policy has been to sed( a I)etWe￿ mcthrate cakNtal ￿O￿th and good Income retums,
obviously taken over a tern) of years. To date, we have continued our t￿louS policy of primar41y investing in
the M & G's Charifund income units to achleve a balanced thm. However. these Investments reft￿t the
ger*ral market trend and. whilst income has increased. in 2023 there was a mcwjest detrease In value of 1%,
with our Investments value at the year*rKI *anding at E810.398 12022 E819,755). Thè Trustees tommissthed
review of the Assoclation's Investments and rts perf0r[Twn￿ and wdl be seektng to implement appropriate
rettJmmen¢JatSons. In that regard. Sin￿ the year end. our new Tw5urtr has prtrJu¢ed a paper for the Trustees
to consider our onwng Investment FdKy.
The Trustee5 took wofessional a(fvI￿ In December 2015 aThJ r￿alved the housing st￿￿ accordlngly in the 2015
flnanoal statements. The Trustees believe that, given the restrtted charitable objects of the Association, there
ha5 treen no material change In value to the balaKe sheet date. The Twstees are consclous of the guldance
recommendlng peric*lic [￿OfeSsional valuations, but feel the benefit would be marginal given the cost of su¢h a
further review.
PolKy regarding the Assooation s Reserves . £1.346.035 31 Decem￿2023
The Assockation's reserves comprlse unrestrKied fvnds rf £1.625,073, woth a mc¢Jest attrityjtion of É3,686 to
des19r￿ted Extraon1inary repaSr lunt1. Given the freehohy woperties represent assets of E703.095. free reserves
are essentr.ally represented by the liquid assets. As ouulned in previou5 repJrt5 our present assessment is that In
the Charity's local area ￿ benefit, another AImS￿Se deve￿p￿￿It wouk1 not be viable. However. the Trustees
do not dtscount the tossits.lity in the knger term. current view 15 that the income from our ￿￿110 shwld
Supp￿ the needs of the tenants of our 11 woperb.es (vh*n fully occupieij) whose abillty to Ilve Independent
Ilve5 in their own Iw)me demands some degree of domtlllary help. We do provi¢Je support from tfjme to tlme. but
it has to date required the Chartty to contribvte finar￿lal1Y on a very mincr scale. Our ￿idents. needs vary
wtdety from one year to another, so we shall not te cortemed rf we carry a significant surplus In any one year.

STEWARfs AND BUDGEN'S ALMSHOUSES
For the year ended 31 Dernmber 2023
REPORT OF THE TRusfEES
for the Yèar Ended 31 December 2023 {C•ntinu•d)
R￿k Management
The Trustees have sought to identify the mahir risks to which the Assttiaiion is exposed and wfjthSn reason for
small charity. where intemal controls are r*cessorily limited. have esiablish8J systems to ensure that these risks
are reviewed and are minimised as far as pos9ble.
In settlng our view5 herÈin and in managerrtht of the Charty generdlly. the Trustees have given carefvl
¢onslderd￿on to the Charity Commlssknn's gufjdè￿e on publK benefit.
Accomm¢xlatlon of good qualtty
In the TfUStees' tyinh)n the charity mK1es eX￿lIalt value for money and gr•￿1 quality accommodation for its
reSId￿ts at low cost. Our visiting team of Trustees conknnL*d as before, with responsitxlity for the Manor Fami
almshouses wlth Mrs Susan Lee and Mrs Chris￿ne Searte for the Pcdey Green woFthes. with the Chaimk4n
providing sUPP)rt ror tr*)th locations.
Perwnnel
The Trustees In Offi￿ thls year are detsiled on Page l.The Trvstee eoan1 has seen $￿e rr￿ernent in 2023 wlth
the ￿SIgnatyOn of Mrs Fordham in 2023 and the aftival of Pls T. Dallman and Mr Ryszard Nowobllskl In the
OU￿rnn of that year. Thls briThJs the Tnjstee Board to a totsl of 10.
As Chalr I have been very thankftjl fty the exputyse and d9jlca￿on shcMTn by the Trustee Board. They. together
wlth our Treagjrer. HemarKJ Shah and the Charity Secretsry, Andrew Riley. are professional and thorough in all
their work for the Charity and have been a great SUPF#Yt to me. As I Ic*)k to ￿rement in Marth 2024 1 can only
e thanklul for my thirty Ilve years with the Chbrity; it has dwnpj Immeasurnbly in that time but Its core values
of servi￿. respect and kirKkne5S Still prevall. may that contlnue.
Afternote:
Sadly Mrs Reynohls passed away unexpectedty è few days befwe her final rnee￿ng ￿ Chair of the Charlty.
Although she Is not here to read this. the Trustees would like to put on record their grab.tude for her devotion
and efforts on behalf of the Charity and its gster tharityes, Egham Educati¢)n Trust and egham United Charity.
Following1 her retirement the Trustees had resolv8J to app)int Mr Ryszard NOW￿bI15k1 as the new Chair. HIS
appointment has now been ¢Cffifirm￿I with the Charity Commission.
The Trustees believe they have complied wtth rekvant reqvirements of the Govwnance and Finandal viablllty
Standord, so far as appllcable to a small regi#ered gxial houslng provider.
The Trustees a￿ responsfjble for keeping rryer ac£ountirvJ ￿CordS which dlsdose wlth ￿8$Onable accuracy at
any kn.me the financial position of the Assooation and to enab￿ the Trustees io ensure that the financial
statemènts compty with the wulrements of the Charities Att 2011 and the kcoun￿n9 Direttion for prfvate
reglstered providers of scclal housiThJ in England 2019. The Trustees are also responsible fcf safeguardlt)g the
assets of the Asscthtkm and heno fty tsklTh3 reasonat* step5 for the wevention and detecuon of fraud and
other irregukrrt￿s.
Tax Status
The Trustees are of the opin*)n that the As9xia￿C￿ Os notloble trxation on Ots ttoritjbk ?ctfvitles.
Extenwl Audltor
A re￿lu￿On to reapFdnt the auditor. lan S Ande￿. will be prDFwJ at the Annual General Meevng.
statement As To Dlsdosurn Of Infor￿On To Audltws
So far as the Trustees are aware, there is M rel￿ant audlt Infomiation rf wh￿h the Association's auditor Is
unaware. and each fnjstee has tsken all the steps that he or she tsught to have taken as a Trustee In onler to
make themselves awa￿ of any rele4ani a￿*t lnrrymatl￿ and io establt5h that the Assttiation's audltor is aware
of that Infrym?tion.

. srEWART'S AND BUDGEN'S ALMSHOUSES
For the year ¢rtded 31 December 2023
for the Year Ended 31 December 2023 (CoThtlnued)
Approval of Flnahclal Statèmefits
The ftnanclal statements are apwcwal by the Trustees subnissh?n aThJ approval by the Audltor of the
Assoclation.
BY ORDER OF THE TRusfEES
Draft
Andrew fvley
24 July 2024

STEWARfs AND BUDGEN'S ALMSHOUSES
For the year ended 31 December 2023
Oplnlon
I have audtsj the finamal statemerts of Stewarfs and BLKW'S Almsfv)uses fthe knwation? M pages 7 to 14. The
AsSocIa￿On Is both a reg15tered charity aTrJ a registered 5ttitil larnlknrd and these flnandal statements have been pwared In
atton1ance the Trust Deed dabj 16 Octobw 1925 (as •merthd). the Statement of Recommended Pracbce {SORP):
countlng by Rg3iste￿ Scoal Houslng ProvKIw5 (UpJ* 20181. the Houslng and Regwwdtyon 2008 and the
Lcounting Dlrth for private reglstw&J providers Iws1￿ in EngkirK1 2022. in cOM￿lan￿ wth United Kingdom
Accountlng Standards (United Kingdom G￿er￿[W AcceFted kcounting Prnciicel indLvJing FRS 102 Tr Rnandal ReportlrvJ
staftdards ap￿Icable in tt* UK and Re￿￿1C d IrdaNr.
rn my oplnlon the finanoal Strte￿nts:
gNe a truè and fair view of the stats of the Asscoakn's affairs as * 31 ￿mber 2023 arKI cl ￿ totsl recognised
result the yèar then ended; aTh1
have been pmperfy preparey In acCor(la￿e wth the Trust Deed dknj 16 Orlobw 1925 (as omendedl and United
Klngdom Generalty Accepted knunting Prdcbce;
have been proFeriy prepared in aCcr￿￿rKe Mth the require￿￿ts of the Charftles Ad 2011, thè Hw5ing and
Regenerntron Art 2008 Acownb"ThJ rAretti￿ regt51ered pn)viders cl s￿131 hrAASing in England
2022.
Basls for oplnlon
I conducted my audlt In accordan￿ with intematioMI Sta￿rds on Audiling (UK) (ISAS (UK)) and appluble law. l am
Independent of the Asxxration in accordan￿ with the eihical ￿ul￿f￿nts that are rekvant to my audit of the financial
statements in the UK. induding the FRC'S Ethiol Stsnt1ard. aThJ klie¥e that the audit evidence obtaIr￿ is stffioent and
appropriate to provide a basls for my opinkjn. I have nothirKJ to ￿[￿rt In respect of the following matters whid) the ISAS
(UK) ￿QUi￿ me to rer(rt to you Whe￿.. the use of the 90ing ccrttrn basis of accounting in the preparation of the
financial statements is not apprvpriate; ty the finarKial statewrents fail to disdose any identified matersal un￿rta5n￿es
that may cast slgnlficant doubt on that bass a terK4J of at least twelve months from the date when the flnan¢ial
statements are authorised for Is9Je.
Oth*r IntOrn￿On
The Trustees a￿ resp)nsible for the other infC*mati￿ induded in the annual report other than the finandal
statements and my auditorfs report thtreon. My Opinic￿ on the finanaal statements does Th)t cover the oth
Information and I do not express any form rf assuran￿ cOr￿￿510n thereon.
In connettlon v￿th my avdlt of the financial statements, my responsknilrty is to read the other information and. in
dolng ￿1. consSder whether the crther informatoon Is materially inconsistent with the financial 5taternents or my
knowledge obtsined in the audit or othen*ise appears to be materially mi55tsted. If. based on the work I have
performed, I condude that there is a materi•l misStatem￿t of this other informatlon. J am requlred to re￿rt
that facL
I hove ￿thIng to rep)rt in this ￿0rd.
Matt•rn on which I am r•qulr•d to r•port by *xcepikn
I have nothlng to report in respttt of the folkjwing matt&s where the aThJ RegeneratN)n P£t 2008 4nd the
chart￿e5 Art 2011 requfj￿ me to ￿p)rt to you if. in my opinion:
The Informa￿on In the Tmstees, Repjrt is Iwsistent in any material aSFect wfjth the financial statsments: or
A satisfactory system of contrt*l over transactions has teen maintslned: or
sufficient atcountin9 records have not txen kept:
the flnandal statemenrs are not in agreement with the accountong records aN1 retUrn5: or
I have not recelva1 all the Infomiation and explanatbjns I Trqyire tr my a￿lIt.
As explained more fulty In the Tnjstees, Res[￿51b11￿eS Ststement. the trustees are responsible for the preparatSon of
financkl stateThwts whth 9lve a true and fair vlew. and for suth internal control as the Trustees determine Is necessary
to enable the preparabon of financial ststements that a￿ fre¢ from materfial mlsstaterrrt whether due to fraud or error.
Further, the Trustees are resFon&ble for assessing matters rdatirKJ to gcrfng con￿rn and fty the use of the 9¢￿ng concern
basls for acc{Jun￿ng.
Aud5torfs responslbllltles for the audlt of the Ilnancial slat￿ents
I have been app)Inted as audltor under secbty) 145 of the (Jant￿5 Att 2011 and reF*Yt In acctrdarKe wlth regulatlor
made under Section 154 of that ACL My reSkKJnsi￿llty is to aud￿ and exwess an otynlon on the flnancial staterr*nts In
attOrdan￿ with applicoble Traw and Internatlonal Stsndarts on Auditing {ISAs (UKI.
My objecknve5 are to obtain reasonable assuran￿ atKJut whether the financijl statements as a vthole are free from
material mlsstatement. whether due to fraud or error, and to issve a Report of the Audltors that Includes my oplnlon.
Reasonable assurance Is a hKJh level of assurance, Ixrt is not a 9uardntee that an aL*Jit conducted in aCcOrdar￿ wlth ISAS
(UK) will always detert a material misststeTh*nt when it exists. Misstatements can arise from fraud or error and are
consldered material if, indivKlually or in the a99regate. they could rea9)MIYy be eXp￿ted to influence the Èconomic
decisions of u5er5 taken on the basls of these financial ststwnerts.
Irregularities. induding fra￿1. are Instan￿ (* non-(￿40anee with taws and regulauons. I d￿9n wc(edu￿$ in line with
my ￿spOnSIbl11t1e5. Outjined at¥)ve. to det￿t material misstatements in respect of Irwularities, includln9 fraud. The
extent to whlth my procedures are capable d detectlng Irregularities, induding frau¢J Is ¢Jetailed belgw..

srEWARfs AND 8UDGEN'S ALMSHOUSES
For the year ended 31 Derymber 2023
As part of an oudit In accordan￿ with ISAS {UK). l exercise profesgwl judgment maintsMI professl¢)nal sceptiasm
throughout the audit. l also..
l. Identlfy and asstts the rlsks of materfjal rThsstrternent of ￿ flnancoal statements. whether due to fraud or
error, deslgn and p¥fvrm aud￿ procedures reSkK)n5i¥e to those rfjsks, and obtain Ju¢Jit eviden￿ that Is
sufftdent and appropriate to prDvlde a basts for my opinion. The risk of not ¢Jetectln9 a rrkiterial misstatement
resulting Irom frnud Is hlgher than fLr one resuitirrfj from enw. as may Involve collusi¢)n, ftygery*
Intentlonal omlsslons. mi5represent•tyons. or the of Internal control.
2, Obtaln an understsndlThJ rf irttemal cMlrol rebevant to the audlt In ￿der to <*sl9n audlt prcKedures that Jre
ppropriate in the cIrcumstan￿. but Thjt for the puryw of exwessln9 an 4Mnlon on the effethveness ol the
Assocktlon's Internal control.
3. Evaluate the approprlateness of accountfjThJ polKles used a￿1 the rea50￿￿er￿ of Jccountlrwj estlm)tes
nd related dlsd05ures made by the trustees.
4. Conclude on the approprlaleness of the Trustees. w of the goln9 Cortem bas1$ of Kcounting Jnd, based on
the audlt evldence obtslned, whether a materlal uncertalnty exlsts r%lated to events or condltlons that may
cast significant doubt on the Assttiatb)n's ats'lity to ¢￿tinUe •$ o wng concern. If I conclude that a materlal
uncertslnty exlsts. l am reoulred to dfaw atten￿on In my a￿lIt0￿$ reixxt to the relate(I dL$closu￿ In the
flna￿la1 ststements or. If such dlsclosures are Inadequatr. to modlfy my opinion. My condusion5 are based on
the audlt evldence obtslned up to the ot my audIts￿$ rwt. H(rrn. future events or Condbtlons may
use the Asxxlatlon to cease to coDtlnue as è 9¢￿n9 concem.
5. EvJlu•te the overall presentstkjn. Str￿t￿re a￿1 omttht ¢Y the fin•nd•l stètsmerts. Indudlnq the
Olxlosures, ond whether the flnandal ststements rewesent the un(￿Y1Th0 tran5aCthJns and events In
manner that a¢hleves falr presentatton.
A lurther deSC￿ptIl)n of my responlbllltles lty a￿lIt 15 k￿ated In the F￿n￿•1 Reportlng Coundl's webslte at
. Thls descrlptlon lorms part of my Judlt**s rep)rt.
I•￿ of my rnport
Thls report bs m&Je solely to the Asscdavon's trustets, ￿ a bth. In accordan￿ wlth re9￿￿tIM$ under sectlon 154 of the
Charifies Art 2011 and sectyon 137 cl the Nou￿r￿j aTrJ Req￿rntknn Art 2LM)8. My audlt ¥¥ork has been undertsken $0 thot I
mlght S￿te to the Assodatron's trustees those ffotters l am reouktrj tts state to them Sn an a￿lItOrf$ rewrt and for no other
purkk)5e. To the lullest extent pemiltted by l)w. l ¢10 Kcept or assufft re¥tyslblllty to anyone other than the
and Its trusiees Js 4 boty. fty my a￿lIt wo￿. thls reF#Yt, •y o￿nI)n5 I have forff￿.
lan S An(JersL
Chartered Accwntsnt & Ststutwy AudKry
Greengarth
Thlcket Grove
Maldenhead.
Berksh1￿ SL6 4LW
Datsl: 24 July 2024

. srEWARfs AND BUDGEN'S ALMSHOUSES
For the year ended 31 December 2023
STATEMENT OF FINANCIAL ACTIVITIES
srATEMENT OF COMPREHENSIVE INCOME (INCLUDING INCOME AND EXPENDrnIRE ACCOUNT)
for the Year Ended 31 December 2023
2023
2022
41,198
39,332
Operating costs
{49,237)
(48,117)
Optr*ing surplus/ (defidt)
(8.039)
(8,785)
Infrrest receivable and other income
Interest payable and simllar charges
SO,221
44.625
Surplusl {Deficit) on ordinary actlvlttes
befove tsx•tlon
42.182
35,840
Tax on result of ordlnary artivitres
Surplus/ {D•fidt) for the year
after taxatlon
15
42,182
35,840
other recognlsed galns and losses:
Revaluation of tsngible fixed assets
Movement in investment Values
Profft on Sale of investments
li
(14,049)
{44,889)
Total Comprehens1￿ In¢ome/ (dofidt) for the year
28.133
(9,051)
All of the activities of the charity are dassed as co￿nuIng.
On behalf of the Trustees:
Mrs D Brlckell
Mr R Nowobilskl
Dated: 24 July 2024

srEWARfs AND BUDGEN'S ALMSHOUSES
For the year ended 31 Oecember 2023
BALANCE SHEET
As at 31 December 2023
2023
2022
Tangible assets
703,095
709,081
Current assets
Debto
Investments
Cash at bank
io
li
12
3.447
810,398
537,957
2,409
819,755
495,532
1,351,802
1,317,696
Less: Creditors
Amounts falling due within one year
13
5,767
5,780
1,346,035
1,311,916
Total assets less ￿rrent liabilities
2.049.130
2,020,997
Provisions for liabi1Stles
and charyes
14
3,686
Capltal and rès•rv
Income and expenditure account
Revaluation reserve
15
15
1,625,073
420,371
1,596.940
420,371
2.049.130
2,020,997
These finanaal statements were approved by the Tntstees and authorised for issue on 24 July 2024 and are
slgned on their behalf by:
Mrs D Brlckdl
Mr R Nowobilski

. srEWARfs AND BUDGEN'S ALMSHOUSES
For the year ended 31 December 2023
NOTES TO THE FINANCIAL sfATEMENTS
for the Year Ended 31 December 2023
ACCOUNTING POLfciES
The fin3noal statements have been prepared in accordan￿ wfth applicable Finantial Reporting Standards In
the United Kingdom (induding the Statemert of Recommended Pratttce (SORP).. Accounting by Reglstered
Social Housing Providers (Update 2018) and the Accounting Direction for private registered providers of
social housing In England 2022 and FRS 102 Ihe Financial Reporting Stsndard5 applicable in the UK and
Republic of Ireland" as ap￿ICable to small entities per amerbJments publlshed March 2018. Subjett to the
foregoing the polioes a￿ conslstent wth prevlws years. A summary of the more important accounting
poliaes is set out below.
General Inforniatlon and basls of accountln9
Stewarts's and Budgen's Almshouses 15 a private registered kyovider of soaal housing in the
Unlted Klngdom. The address of the registered office is as detailed for the Secretary on page l.
The Assoaation is a public benefit entity and the nature of the AsSOQation'5 operatlons and
prinapal activity is as an almshouse charity.
The finanaal statements are prepared i)n the historical o)st basls of accounting subiect to the annual
revaluation of inve5tsnent a￿ts and perlodlc revaluation of its Freehold property wlthin Tangible
fixed assets.
Golng Concern In the current economlc condltlons
The trustees have a reasonable expectation that the Assooation ha5 adequate resources to
continue in operational existence for the foreseeable future. In their opinion the impatt of Brexft
and the present Covid-19 ufisis is not a concern to their adoption of the going con￿rn basis in
preparing the annual report and accounts.
As per FRS 102 published March 2018 by the Fina￿la1 Reporting Cou￿61, as a small entity the
Assoaation 15 n?t required to Produ￿ a cash flow statemenL
Turnover
Turnover represents rental income re￿1¥able.
Freehold Propertles are induded at 2023 valuat￿n. based on the professional valuation in the 2015
financial ststements. Deprectation on t￿lIdIng5 is d￿rye￿ on a straight line ba95 over the useful life
of the building - 50 year5. As regards other fixed assets, the A550ciation's pollcy Is to charge
expeThllture on minor Items to tr* Ststement of Finanaal Activities.
Major Repalrs
The Assoaation provldes for future major repair expenditure on all housing properties developed
under the original 1988 Hou￿n9 Act arrangements and for other properties In so far as the major
repair5 expenditure is not eligible for grants from Homes England or local authorities.
Social Housing Grant
Where developments have been finaft￿d wholly or partly by-housing a550clation" grant, the c05t of
those developments has been reduced by the afflount of the grant received.
Investments
Listed investments are recognised at mid-market value at the balance sheet date. Both realised
and unrealised gains and losses on investments are reflerted in the statement of financial
activities. Investment income Is credlted to the statement of financial artlvttles on an accruals
basis, indusive of taxation credit where applicable.
expendlture
Expenditure Is allocated to expense headings either on a dirert cost basis or apportioned according
to time spent. The irrecoverable element of VAT Is included with the item of expense to which fc
relates.

srEWART'S AND BUDGEN'S ALMSHOUSES
For the year ended 31 December 2023
NOTES TO THE FINANCIAL sfATEMENTS
for the Year Ended 31 December 2023
TURNOVE￿ opeRAllNG SURPLUS AND SURPLUS BEFORE TAXATION
2023
2022
Tumover from lettings:
Eleven units on average (2022 11 units)
Rent losses frorn volts and provisions
42,143
(945)
41,543
(2,211)
41.198
39.332
Rental irKome per unit was intreased in April 2018 by 1.6%. Rents have been increased by 2%
effertive April 2023.
One unlt whith had been vacant from October 2023 has been reoccupied from May 2024.
Those tenants re￿Ning housing subsidy a￿ treated 4 weekly in arears by the Councll whereas
rentsl is stricuy due on a monthly basis in advance. Tenants, who pay all or part of the rental ¢Jue,
do so on that basls.
2023
2022
Operating costs:
Malntenance and runnlng costs of Amshouses
Support costs
G)vemance
42,218
1,258
5.761
41,202
1,208
5,707
49.237
48,117
I governan￿ costs are attrilmrtable to the Issociabon's principal artivity.
TRusfEES' EI4OWMENTS & RELATED PARTIES
The￿ were no Trustee emoluments paid durfry the perfod {2022 £ th1). Reimbursed expenses of
£250 {2022 £200) were payable relating to costs expended on behalf of the Charity.
The Trustees also administer two other Charities whith Serve the same area of benefit: Egham
Education Trust and Egham United Charity. Apart from sharing of meeting premlses, no
transactions took place between the three charitie5 in the year under revlew. Copies of the
accounts of the charlties may be obtained from the Secretary.
EMPLOYEE INFORMATION
The Secretary to the Trustees appointed in the year has daimed no honorarium. The Atting
Secretary until September 2022 was in receipt of a small honorarium of £196. These are the only
Indlvlduals falling wlthln the remfc of key management personnel. There were no employees during
the period.
io

. srEWART'S AND BUDGEN'S ALMSHOUSES
For the year ended 31 December 2023
NOTES TO THE FINANCIAL sfATEMENTS
for the Year Ended 31 December 2023
INTEREsf RECEIVABLE AND SIMILAR XACOME
2023
2022
Investrnert income
Bank and buildlng soaety interest
45,653
4.568
44.033
592
50.221
44,625
INTEREsf PAYABLE AND SIMILAR CHARGES
2023
2022
Interest payable
The Assooatlon has bank overdrafts or loans
SURPLUS
2023
2022
Surplus on ordinary artivities before
tsxation is stated after charging:
Audltorf5 remuneration (incl.VAT £560: 2022 £560)
in their capadty as auditor5
Other governance costs
Depreaation - buildings
3,360
2,401
5,986
3,360
2,347
5,986
TAXATION
The Tnjstees a￿ of the opinion that the A550ciation is not liable for taxatlon on its
charitable actlvitles.
TANGIBLE FIxeD ASSErs
Freehold
Properties
2023
Freehokl
Properties
2022
cosr OR VALUAnOM:
Valuation as at l January 2023
Addition in year
750,984
750.984
As at 31 D￿ember 2023
750,984
750.984
DEPRECIATION:
As at l January 2023
Charge for year
Release on revaluation
41.903
5,986
35,917
5.986
As at 31 December 2023
47,889
41,903
NET BOOK VALUE:
At l January 2023
709,081
715,067
At 31 December 2023
703.095
709,081
li

srEWARfs AND BUDGEN'S ALMSHOUSES
For the year ended 31 December 2023
NOTES TO THE FIfiANCIAL sfATEMEP4TS
for the Year Ended 31 December 2023
TANGIBLE FIXED ASSEfs (continued)
The freehold propertles were professionally revalued on 16 December 2015 on an existiThJ
Use basis, wtth a revaluation reserve of £420.371 arising. The above value also includes the cost of
par*ing space for £10,983 in 2017. The Trustees believe that, in the light of property valuations
generalty and the speofic cirojmstances relating to the almshouses, that the valuation remains
valid for these finanoal statements. For 2016 onward5 depreciation on the deeffled buildings
element is charged over 50 years useful life.
Housing properties at cost less trbmes England grart and
internal fuThding account were:
2023
2022
Cost of properties
Registered Social Landlord grarts
from (now) Homes EnglaThl
intemal fvnding account
637,512
637,512
(226,258)
(3.497)
{226,258)
(3.497)
407.757
407.757
io.
DEBTORS
2023
2022
other debtor5
Prepayments and accrued income
1,228
2,219
1,071
1.338
3.447
2,409
I debtor5 are due within one year.
11. INVEsfMENTS
2023
2022
Quoted investments
Market value brought foThdard
Accumulated income for year
Addition5/Di5P05als at cost
Reallsed {gains)Ilosses
Unrealised galnsl {losses} for year
819,755
4,692
860.374
4.270
(14.049)
(44,889)
Aggregate market value of
listed investments
810.398
819,755
Breakdown of Investment retums:
Charity Multi A55et FurKI . Accurnulation shares
27.961
49,868
45,104
27,961
45.176
42,611
Accumulated Income
Unrealised gains
Market vdue
122.933
115,748
12

STEWARfs AND BUDGEN'S ALMSHOUSES
For the year ended 31 December 2023
NOTES TO THE F114ANCIAL ￿ATEmENTs
for the Year Ended 31 December 2023
ii.
INVESTMENTS (contlnued)
2023
2022
Charifijnd - Income Units
468,599
468,599
Additions at Cost
Unrealised gain
218.866
23S,408
Market value
687.465
704,007
Totsl cost
Addition51DtSP05als at cost
Acwmulated income
Unrealised gain5
496,560
496,560
49,868
263,970
45,176
278,019
Totsl market value
810,398
819,755
12. CASH AT BANK
2023
2022
Virgin Saver account
Buslness saver account
Community current account
80,000
455.132
2,825
80,000
413.532
2,000
537,957
495,532
13.
CREDtTOR&. AMOUNTS FALLIIIG DUE WmllN ONE YEAR
2023
2022
Accruals and deferred Income
5,767
5.767
5,780
13

SfEWARfs AND BUDGEN'S ALMSHOUSES
For the year ended 31 December 2023
MOTES TO THE FINANCIAL 5TATEMEp¥f5
for the Year Ended 31 December 2023
14.
PROVISIONS FOR LIABILITIES AND CHARGES
Extraordinary
repair
fund
2023
Total
2022
A5 at l January 2023
Transferred from operating costs:
Income aThl expenditure account
3,686
A5 at 31 De￿rnber 2023
3.686
15.
RESERVES
Income and
Expenditure
account
Revaluatlon
Reserve
As at l January 2023
1,596,940
420.371
Surplusl (deficit) for the year
Transfer to Extraordinary repair fiJThJ
Increase/ (decrease) in value of inve5trnerts
Revaluation of freehold property
42,182
(14,049}
Surplus carrled forward
1,625,073
420,371
14