MERSEA ISLAND TRUST
ACCOUNTS AND TRUSTEES, REPORT
YEAR ENDED 31 MARCH 2025
Regulator ol Social Housing registration number.. L1259
Charity registration number.. 206064

MERSEA ISLANDTRUST
FINANCIALSTATEMENTS
YEAR ENDED 31 MARCH 2025
Contents
Page
Mersea Island Trust Information
Trustee5 Report
Independent Auditor's Report
State ment ol Cornprehensive Incorne
Balance Sheet
State ment of Cash Flows
io
Notes to the Financial Statements
11-18
The following ptige does notfom? part of the statutory occounts
Property Revenue Account
19

MERSEA ISLANDTRUST
TRUST INFORMATION
FOR THE YEAR ENDED 31 MARCH 2025
Charily rtgi5tration number
206064
Regulator of Social Ho￿SIng registration number
L1259
Trustees
Caitriona Banting
Joanna Jackson (Chairman)
Cheryl Rutter
Laurie Sharpe Iresi8ned 3 10ecember 20241
Jayne Taylor
Rita Kemp
Alison Vico (Treasurer) (Appointed 18 November
20241
Committee members
Carole Butterfield
David Payne Iresigned September 20241
Yvonne D3y
Andrea Selway (resigned February 20251
Tenant representatlves
Evelyn Rutter
Christine Chamberlain
Registered office
Akhurst Court
Melrose Road
West Mersea
Essex. C05 8J8
Accountant5 and auditor
Streets Audit LLP
The Old Exchange
64 West Stockwell Street
Colchester
Essex, COI IHE
Solicitor
Headgate Court
Head Street
Colchester
Essex
8anker5
Barclays Bank plc
9 High Street
Colchester
Essex

MERSEA ISLAND TRUST
ANNUAL REPORT OF THE TRUSTEES
FOR THE YEAR ENDED 31 MARCH 2025
The trustees of Mer5ea Island Trust present their report, and the audited financial statements of the year ended 3 1
March 2025.
Organisation
The Mersea Island Trust 15 governed by the trLJ5tees who have delegated the operation of the Trust's activities to 8 M3in
Committee consisting of trustees and others which meets at least quarterly. The trustees hold an ènnuèl general
meeting to which committee member5 are invited. Names of the trustees and committee members are shown on page
Individuals interested in acting as trustees are appointed after they have been recommended as having the qualities
and ski115 expected ol trustees and after attending a committee meeting. Training is Eiven where appropriate,
dependent upon the requirements ol each individual trustee.
Financial review of the past year and futurè devèlopmènts
The accounts show the financial performarice for the year ended 31 March 2025. The 5urplu5 for the year is £42,292
12024.. £1.0551.
The operating costs ol the Trust are show a5 a one line entry on page 8 of the accounts and detailed under note 2 on
page 13.
During the year there have been changes to the tenants In the two htsmes runs by the Trust.
There were three rental voids at Mersea Court during the year, two tsl which required m3jor works so there was a delay
before reletting,. there was one void at Akhurst Court during the year, which wa5 re-let quickly.
We cornpleted the conversion of the former 3 bedroom warden'5 flat at Akhurst Court into tr￿0 I bedroom flats, both
were let earlier than anticipated, resulting in additional income which off set Some of the conversion costs.
Flat 11 at Mersea Court was refurbished and wa5 let at an increased rental charge.
Fire safety irnprovernent work5 were starting during the year at both properties. The irnprovements carne about as a
result of a fire safety inspection.
There were staff changes during the year." Mersea Courtwarden leftin March 2025 and has subseouently been replaced,.
the 3dministration manager left in February 2025. this wa5 a part time role and has been replaced with a full time role
following the year end.
The Trustees plan to continue to operate the homes in the manner in the future to best meet the needs of their users.
Objectives and strategies for achieving those objertives
The rnain objective ol the Trustees tsl the Mersea Island Trust are to..
Keepto and apply, national standard of service and the implementstion of a risk Management Statement and National
Occupational Standard.
Work in partnership with other organi5ations to meet the needs of the Tenant5 and Staff of the homes. To use their
discretionary powers to apply lund5 for the benefitof the elderly residents of Mersea Island and in particular, to acquire
and run homes for those purposes. There are two home5, Akhurst Court and Mersea Court. sitLJated in West Mersea,
each of which have representation on the Main Committee.
Code of 8overnance
The Mersea Island Trust wa5 e5tabli5hed as a charitèble trust by a declaration of trust dated 2 May 1961. The founder
trustees were headed by Dr J Llewellyn Jones. The Mersea Island Trust is registered as a charity with the Char1ty
Cornmi55ioners Ino, 2060641 and as a registered social landlord with the Regulator of Social Housing.

MERSEA ISLAND TRUST
ANNUAL REPORT OF THE TRUSTEES - continued
FOR THE YEAR ENDED 31 MARCH 2025
The Input of volunteers
The Trust ha5 one full time administrative staff rnember and relies upon the input of unpaid volunteer5 to acl ès trustees
and committee members.
Pvblic benefit statement
The Trust en3ble5 the elderly to continue livin8 on Mersea Island. The Trust has had due regard to the guidance
published by the Charity Commission on public benelir.
Re5erve5 Policy
The Tru5tee5 have examined the charity's requirements lor reserve5 in the light ol the main risk s to the organi5ation.
It Is to e5tab115h a policy where the reserves are to be used to rnaintain the capital committnent of the Trust in keeping
within the requirementsof the Health and Safety requirements and where nece55ary the improvement ol the facilities.
These reserves are analy5ed in note 13 on pa8e 17 and where required revalued as required by company law.
Availability and value of assets
The tru5tee5 believe that the Trusys assets are available and adequate io fulfil the obligètions of the Trust. The market
value of the trvsys land is substantially in excess ol its book value at the year end. as shown in riote Ioto these accounts.
Value for monev
The Trust is charged with the responsibility lor providing and demonstrating that it does provide value lor money. The
Trust is constantly workillg to rnanage it5 resource5 to rnaximise c05t effectiveness and efficiency, while at the sam
time providing qU31ity service5 to rneet tenants need5.
The Trust manages 1ts value for money responsibilities by its approach to budgetin8, risk management. interest rates,
service quality. void5 rnanagement and energy consumption whilst keeping an optimum balance between realistically
low Costs and a quality service.
The Trusvs performance against the seven metrics reqLJired by the Regulator of Social Housing are..
2025
2024
Varlan
% shift
Comments
Reinvestment
Newsu
I delivered
Gearin
Earnings before Interest, tax, depreciation
ma
or re
airs / interest cover
Headline soci31 housin8 Cost per unit
NIA
NIA
NIA
NIA
No outstandin
loan finance
No outstanding loan finance
£8,731
£8,957
13%)
Includes costs of flat
refurbishments and fire safety
updates.
See above
See above
erating margin
Return on ca
ital em Its ed
14.631%
1.07
236%
247%
1.57%
The Trust has complied with the Governance and Financial Viability Standard.
Donation5
During the year the Trust made no charitable donations.
Trustees, responslbllitie5
The trustees are responsible for preparing the report and financial 5tatemernts in accordance with applicable law and
regulations.

MERSEA ISLAND TRUST
ANNUAL REPORT OF THE TRUSTEES - contlnued
FOR THE YEAR ENDED 31 MARCH 2025
Registered social housing legislation require the trustees to prepare financial statements lor each financial year which
give a true and fair view of the state ol affairs of the Trust and of its income and expenditure for that period.
In preparing these financial statements. the 8oard of trustees is required to..
select suitable accounting policies and then apply them con515tentlv.'
make Judgements and estimates that are reasonable and prudent.,
st3te whether applicable accounting standards have been followed, subject io any material departures disclosed
and explained in the financial 5tatements,' and
prepare the financial statement5 on the going concern basis unless it Is inappropriate to presume that the
association will continue in busines5.
The trustees are respon51ble for keeping proper accounting records which disclose with reasonable accuracy at any
time the financial position of the Trust and enable it to ensure that the financial Statements comply with legislation 3nd
the AccountinE Direction for private registered provider5 of Social housing in England 2 022. It has general responsibilitv
for taking reasonable steps to safeguard the assets of the Trust and to prevent and detectfraud and other irre8ulariries
and for maintaining a satisfactory system of control over the Trust's books of accounts and transactions.
Disclosure of information to the auditors
We, the trustees of the Trust who held office at the date ol approval of these financial statements as set out above
each confirm, so lar as we are aware. that..
there is no relev3nt audit information ol which the trusvs auditors are unaware.. and
we have taken all the steps that we ought to have taken as Trustees iri order to make ourselves aware of any
relevant audit information and to establish that the company's auditors are aware of that information.
Jjac
on
Chairman on behalf of the tru5tee5
I September 2025

INDEPENDENT AUDITOR'S REPORT
TO THE TRUSTEES OF MERSEA ISLANDTRUST- continued
FOR THEYEAR ENDED 31 MARCH 2025
Oplnign
We have audited the financial statements of Mersea Island Trust lor the year ended 31 March 2025 which comprise
the Staternent of Comprehensive Income, the Balance Sheet, the Statement ol Cash Flow5 and notes to the finaricial
staternents including significant accounting policies. The financial reporting framework that has been applied in their
preparation is applicable law and United Kingdom Accounting Standards including FRS 102 'Yhe Financial Reporting
Standard applicable in the UK and Republic of Ireland" Iunited Kingdom Generally Accepted Accounting Practice).
In our opinion the financial statements..
8ive a true and fair view of the state of the Trusvs affairs as at 31 March 2025 and ol its incomin8 resources and
application of resources, including its income and expendifure lor the year then ended,,
have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice, and
have been prepared in accordance with the requirements of the Charities Act 2011. the Housing and Regeneration
Act 2008 and the Accountin8 Direcrion for private registered providers of social housing in England 2022.
Basis for opinion
We conducted our audit in accordance with International Standards on Auditing IUKI IISA5 IUKII and applicable law.
Our responsibilities under those standards are further described in the Auditor's re5pon5ibilitie5 lor the audit of the
financial statements section of our report. We are independent of the trust in accordance with the ethical reouiremenis
that are relevant to our audit of the financial statements in the UK, including the FRC'5 Ethical Standard, and we have
fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence
we have obtained is sufficient and appropriate to provide a basis lor our opinion.
Concluslons relatlng to golng contern
In auditing the financial 5tatement5. we have concI￿led that the trust's use of the 8oin8 conTrrn basis of accountiw in the
preparation ol the financial statements Is apprtsprièie.
Based on the workwe have perfomed, we have not identifEd any material uncertaint£srelarin8 to events or ccmdrt1or￿ th<
Individual￿ Of co11ectDiely, rnay cast 5ignrficant doubt onthe a5500at￿n'5 abilityto iontinueas a going concernfora pe riodof 3t
least twelve rnonth5 from when the financial 5t3ternents are authorised lor Issue.
Our respor6ibilitie5 and the respJn5itrx'l((ies ol the trusteeswith respeLI to going concerriare descnbed in the relevantsectiors
ol this report.
Other Informatlon
The other information compr5e5 the information iacluded in the annual report. other than the finanual ststernents ￿d our
auditor's report thereon. The trustees are res￿n￿b￿ forthe other information containedwithin the annual repoKtJ Our0￿n￿)n
on the financial statements does not ccwer the other information and, except to the extent otherwise explicitly statrd in wr
report, we do not express any form of assurance conclusion thereon.
Our responsibility is to read the other infoTrnation and, in doing $0, consider whether the other information 15 m3teri
incon515tent with the financial statements, or our knowledge obtained in the course of the audrt, or otherwise appe￿ ￿ be
materially misstated. If we identify such material inconsistencEs or apparent material misstatement5. we are required b)
determine whetherthis gives rise to a material misstatement in the finarKkil statementsthemselves.11, ba5edon the work ¥%e
have perf￿med, we cOrK￿l* that there is a material misstatement of this other information, we are required to report that
fact.
We have nothing to report in this re8ard.

INDEPENDENT AUDITOR'S REPORT
TO THE TRUSTEES OF MERSEA ISLANDTRUST- continued
FOR THE YEAR ENDED 31 MARCH 2025
Matters on wh4ch we are required to report by exception
We have nothing to report in respect ol the following matters where the Charities (Account5 and Reports) Regulation5
2008 requires us io report to you if, in our opinion..
the information given in the financial statements is inconsistent in any material respect with the tru5tee5' repo
or
sufficient accountin8 reiords have not been kepi,. or
the financial statemenis are not in agreement with the accounting records return5,' or
we have noi received all the ￿nfOrmatIon and explanation5 we require lor our audit.
In addition, we have nothing to report in respectof the followin8 matter where the Housing and Regeneration Act 2C08
requires us to report to you if, in our opinion..
a satisfactory system of control over traMsa£tions ha5 not been maintained.
Responsibilities of the Trustees
As explained more fully in the Trustee's Responsibilities Statement set out in the trustee5' report, the Trustees are
responsible lor the preparation of the finaniial statements and for being satisfied that they give a true and fair view,
and lor such internal control as the board deterrnine is necessary to enable the preparation of financia5 statements that
are free from material missiatemenL whether due to fraud or error.
In preparing the financial statements, the board 15 respon51ble lor a55essing the trust's ability to continue as a going
concern, disc105ing, as applicable, matters related to going concern and usine the Eoing concern ba515 of accounting
unle55 the bo3rd either ilitends to liquidate the trust or to cease operations. or has no realistic alternative but to do so.
Auditor's responsibilities for the audit of the financlal statements
Our objecrives are to obtain reasonable assurance about whether the financial statements as a whole are free from
marerial misstatement, whether due to fraud or error, and to issue an auditor'5 report that includes our opinion.
Reasonable assurance is a hi8h level of assurance but is not a guarantee thai an audit conducted in accordance with
ISAS IUKI will always detect a material rnisstatemeni when it exists. Misstèiemenis can arise from fraud or error and
are considered material il, individually or in the aggregète, they could reasonably be expected to influence the economic
decision5 of users taken on the basis of these financial statements.
lrregu13rities,inc￿dlng Ir3ud, are instances ol non-compk'ance with laws and reguL3tior6. We desEn procedu￿$ in line our
responsiEMlities, outlined above, to detect rnaterk41 mis5taternents in respect of irregularitEs,inclthingfraud. Our approach to
identifying and assessing the risks ol rnaterial mi55tatetnent in re5PeCt of irregularities. including fraud and non-
compliance with law5 and regulations. wa5 as follows..
the engagement partner ensured that the engagement team collectively had the appropriate competence.
capabilities and ski15s to Idefit￿fy or recognise non-compliance with applicable law5 and regulations,.
we Identified ihe laws and regulations applicable to the Trust through discussions with tru5tee5 and from our
knowledge and experience ol the sector.,
we focused on Specific law5 and regulations which we considered may h3ve a direct m3terial effect on the
financial statements or the operation5 of the Trust. including the Charities Act 2011. data protection,
employment and health and Safety legislation.,
we assessed the extent of compliance with the laws and regulations identified above through making
enquiries of trustees,. and
identified laws and regulations were communicated within the audit team regularly and the team remained
alert to instances of non-compliance throvghout the audit.

INDEPENDENT AUDITOR'5 REPORT
TO THE TRUSTEES OF MERSEA ISL4ND TRUST- continued
FOR THE YEAR ENDED 31 MARCH 2025
We assessedthesuxeptibilty oftheTwst'sfinanaalstatements to material misstatement, i￿luding0brain1rÉ an urQerstwding
of how fraud might occur, bv..
making enquiries of trustees as to wherethey C￿51￿eredthere was susceptibility to fraud, their knowledgeof acttja.
suspected and alleged fraucl,. and
consideringthe internalcontrols in place to mitlgate risks ol fraud and non-compliance with laws and regulations
To address the risk of fraud through management bias and override of controls, we..
performed analytical procedures to identify any unusual or unexpected relationships,.
tested journal entries to identify unusual transactions..
assessed whether judgements and a55umption5 made IN determining the accounting estimateswere indicaiNe of
potential bia5.' and
investigated the rationale behind significant or unusual transactions.
Because of theinherent l1rn1tat￿￿s of an audit. there 15 a risk thal we will not detect all Irregularrties, including those lead￿810
material misstatement In the financial statements or non-compliance with regulation. This risk increases the more that
compliance with a law or repJlatDn is removed fromthe e¥*nt5 and transaction5 reflected in thefinancial statements, as wll
be less likely to become aware of instances of non-complance.The risk is also greater regarding irreguL3r((ies Occurringd￿ to
fraud rather than error. as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation.
In response to the risk ol Irregularitie5 and non-compl¢ance with lèws and regulations, we designed procedures which
included, but were not limited ro..
agreeing financial statement disclosures to underlyin8 supporting documentation,.
reading the minutes ol meetings ol those charged with governance., and
enquiring of management a5 to actual and potential litigation and claims.
Use of our report
This report is made solely to the board of trustees, as a body, in accordance with Part 4 of the Charitie5 (Account5 and
Reports) Regulations 2008 and section 137 of the Housing and Re8eneration Act 2008. Our audit work h3s been
undertaken so that we might state to the board of trustees those matters we are required to State to them in 3n
auditor's report and for no other purpose. To the fullest extent perrnitted by law, we do not accept or assume
responsibility to ènyone other than the trust and the board ol tru5tee5 as a body, for our audit work, lor this report, or
lor the opinions we have formed.
Streets Audit LLP- Statutory Auditor
The Old Exchange
64 West Stockwell Street
Colchester
Essex
COI IHE
STREETS AUDIT LLP
Chartered Accountants &
Registered Auditors
I September 2025

MERSEA ISLANDTRUST
STATEMENT OF COMPREHENSIVE INCOME
(INCLUDING INCOME AND EXPENDITURE ACCOUNn
YEAR ENDED 31 MARCH 2025
2025
2024
Note
Turnover
400,666
359,517
Operating costs
1375.4501
1376,1751
Gross IdellcStllsurplus
25,216
116,6581
Administrative expenditure
Other operatin8 income
Operatlng IdÈfl£ltllsurplus
25,216
116.6581
Interest receivable and simllar income
Interest payèble and simllar charges
17,076
17,713
IDtfltitll5urplus on ordlnary artlvltles for the year
42,292
1.055
Revaluation of tan8ible fixed assets
Total comprehenslve Incom• lor th• year
There are no reco8ni5ed 8ains and1055es Other than the surplu5 reported above.
Note ol hIstorl￿1 cost surpluses and defldts
There 15 no difference between the results disclosed in the Income and expendlture account and ihe result on an
unmodified historical cost basis,
The accounts were approved by the Committèe on I September 2025 and were 518ned on its behalf bv..
J Jackson Chalrman

MERSEA ISLANDTRUST
BALANCE SHEET
AS AT 31 MARCH 2025
2025
2024
Note
Fixed 355et5
Housing properties at depreciated cost
1,697.058
1,682,745
Less..
Social housing grants
Low carbon buildings programme grant
1441,3871
164,846
1,190,825
48,582
1441,3871
164.8461
1,176,512
37,852
Other fixed assets
io
1,239,407
1,2 14,364
Current assets
Debtors
Cash at bank and in hand
li
2.086
373.192
1.557
364,027
375,281
365,584
Credltors- amounts falling due within one year
12
115,2851
122,8401
Net current assets
359.993
342,744
Total assets less current liabilitie5
I,S99,400
1,557,108
Credltors- amounts falllng due after more ihan one year
Total net a55ets
1,599,400
1,557,108
Reserves
Income and expenditure reserve
Designated reserve
13
13
1,558,946
40,454
1,516,654
40,454
Total Reserves
1,599.400
1,557,108
The financial statements were approved and authorised for issue by the Committee on I September 2025 and were
signed on its behalf by..
J Jackson
Chalrman
The note5 on pages 11 to 19 form part of these accounts.

MERSEA ISLANDTRUST
STATEMENT OF CASH FLOWS
YEAR ENDED 31 MARCH 2025
2025
2024
Note
Cash flow from operatin8 artivities
15
70,250
75,086
Net ta5h Ilow from operatlng artlvltles
70,250
75,086
Cash flow from inve5ttng adivities
Payment5 to acquire tangible fixed assets
Interest received
165,5991
4,514
144.3721
5.996
Net osh Ilow from investin8 activitles
161,0851
138,376
Cash flow from financing activitie5
Repayment ol long term loan5
Interest paid
Net cash flow from financin8 artivities
Net Ide£rèasellintrèase In cash and cash equivalents
9,165
36,710
Cash and cash equlvalents at l Aprll 2024
364,027
327,317
Cash and cash equlvalents at 31 Marth 2025
373,192
364,027
Cash and ￿5h equivzlents con515ts of..
Cash at bank and in hand
373,192
364,027
Cash and ￿5h equivalents at 31 March 2025
373,192
364,027
io

MERSEA ISL4NDTRUST
NOTES TO TH E FINANCIAL STATEMENTS
YEAR ENDED 31 MARCH 2025
Summary of s1gnifl￿rtI attounting polldes
lal General information and basis of preparallon
Mersea Island Trust is registered as a charity with the Charity Commissioners and as a registered social landlord
with the Regulator of Social Housing and is a registered provider of social housing the United Kingdom. The
address of the registered office and operating address is eiven in the Trust information on page l of these
financial staternent5. The nature of the Trust's operations and principal activities are set out in the Trustees
report on page 2.
The Trust con5titute5 a public benefit entity as defined by FRS 102.
The financial statement5 have been prepared in accordance with applicable accounting 5tandard5 including
Financial Reporting Standard 102 The Fin¢inciol Reporting Stondard Applicoble in the UK ond Republic of Ireland
IFRS 1021. the Ststement of Recommended Practice for Social HousinE Providers 2014, and with the Accounting
Direction for private re8lStered providers of social housing in England 2022. The financial statements are also
prepared under the requirements of the Housing and Regeneration Act 2008. The financial statements have
been prep3red on a 80in8 concern basis under the historical cost convention. modified to include cert3in item5
at fair value. The financial statements are prepared In sterling, which 15 the functional currency olthe Trusi arid
rounded to the nearest £.
The significant accounting policies applied in the preparation of these financial 5tatement5 are set out below.
These policies have been consistently applied to all year5 presented unles5 Otherwise Stated.
Ibl Tangible fixed assets
Tangible fixed assets lincluding social housing propertie51 are stated at cost less accurnulated depreciation and
accumulated impairment 105ses. Cost includes costs directly attributable to making the a55et capable ol
operating as intended such a5 the cost ol acquiring land and building5, developments COSts, interest charges on
loans during the development period and expenditure on improvement5. Expenditure on Improvements will
only be capitèli5ed when it results in incremental future benefit5 such as incr easing rental Income. reduci
maintenance costs or resultin8 in a si8nificant extension of the useful economic life ol the property.
Depreciation is provided on all tangible fixed assets. at rates calculated to wrife off the cost, less estimated
residual value, ol each asset on a systematic basis over its expected useful life as follows..
Housing properties, flat5
are stated at cost less Housing Association Grant IHAGI.
Until 1999 it was considered th3t housing properties
were maintained in a state of repair such that their
estimated residual value was not less than their cost so
no provision wa5 made on an annual basis for
depreciation.
since l April 1999 depreciation has been charged at 2%
of the estimated cost, net of 8rants received, of erecting
the building5 and making improverrents.
Other fixed assets
are stated at cost less accumulated depreciation.
Depreciation is charged at IO% per annum straight line.
The useful economic lives of all tangible fixed assets are reviewed annually.
11

MERSEA ISLANDTRUST
NOTES TO THE FINANCIALSTATEMENTS- Icontinuedl
YEAR ENDED 31 MARCH 2025
1¢) Debtors and ueditors recelvèble I payablè within one year
Debtors and creditors with no stated interest rate and receiv3ble or p3y2ble within one year are recorded at
transaction price. Any losses arising from Impairment are recogni5ed in the statement of cornprehen51ve income
in other administrative expenses.
Idl Loans and borrowings
Loans and borrowing5 are initially recognised at the transaction price including tr3nsaction costs. Subsequently,
they are measured at amortised cost using the effective interest rate method, less impairrnent.
arrangement constitutes a financing transaction it is measured at present value.
(Èl Impairment
Assets not measured at fair value are reviewed for any indication that the asset may be impaired at each balanc
sheet date. The level at which an impairment Is assessed is the sheltered housing at each site. The key indicator5
con51dered are state ol repair and occupancy levels.
If such indication exists, the recoverable amount Is estimated and compared to the carrying amount. Where the
carrying amount exceeds Its recoverable amount, an impairrnent Ios5 15 recogni5ed in expenditure through the
5taternent of comprehensive income.
Ifl Provisions
Provisions are recognised when the Trust has an obligation at the balance sheet date as 3 result of a past event,
it is probable that an outflow of economic benefits will be required in settlement and the amount Can be reliably
estimated.
Provision5 for cyclical maintenance or major works to eyisting stock are not made unless they represent
comrnitments or obligations at the Balance Sheet date where there 15 no discretion to avoid or delay the
eKpenditure.
Recycled Ct7pitol Grants Fund
Capital grants can be recycled under certain condition. if a property is sold, or if another relevant event takes
place. Recycled grants can be used for projects approved by the Regulator ol Social Housing and they are
Cfedited to the Recycled Capital Grant Fund within liabilities.
In certain circumstances, such as the sale of housing properties, capital grants may be repayable, and, In that
event, IS Subordinated to the repayment ol other loans by agreement with the Regulator of Social Housing. It 15
accounted for as 500n a5 the liability arises within creditors.. amounts falling due within one year. When any
grarit to be recycled or repaid is less than the grant relating to the disposal, the difference is treated as abaied
grant. Abated capital grants are treated as a componeni of the surplu5 or deficit on disposal.
181 Turnover and other income
Turnover Is measured at the lair value of the eon5ideration received or receivable. The policies adopted lor the
recognition of turnover are 3$ follows..
Turnover represents rentsl and service charges income receivable in the year net of rent and service charge
losses from void5. revenue grants from the government Ilocal authorities) and the Regulator of Social Housin8,
Interest receivoble
Interest income is recognised using the effective interest method is recognised as the Trusys right to recewe
payrnent is established.
Ihl Employee benefits
When employees have rendered service to the Trust, short-term employee benefit5 to which the employees are
entitled are recognised at the undiscounted amount expected to be paid in exchange for that service.
12

MERSEA ISLANDTRUST
NOTESTO THE FINANCIALSTATEMENTS- Icontinuedl
YEAR ENOEO 31 MARCH 2025
Partlculars of turnover and admlnlstratlve expendltuie from soclal houslng lettln85
2029
2024
Turnover
Rent receivable
Service charge income
157,050
250,980
408,030
17,3641
144,684
219,264
363,948
14,4311
Void losses
Turnover from soaal housing lettlngs
400,666
359,S17
Administrative expenditure
Managernent (including non-routine maintenance)
Service charge cost5
Routine maintenance
Depreciation of housing properties
70.703
152.626
111.565
40.556
89,984
144,629
103,881
37,680
Admini5tratlve expenditure on social housln8 lettings
375,450
376,175
Training
Total operatlng costs
375,450
376,175
Operating Ideficitllsurplus on social housinB lettings
25 216
Accommodation owned and in mana8ement
Akhurst
Court
Mersèa
Court
Completed units.. Housing for older people
Total
Number ol uriits at l April 2024
Changes in year
Number ol units at 31 March 2025
21
20
41
23
20
43
Increase relates to the subdivision of the former warden's flat at Akhurst Court.
Surplu5 on ordinary activities
Surplus on ordinary activities 15 Stated after charging..
2025
2024
Auditor'5 remuneration for audit
Auditor'5 remuneration
lor non-audit services
Depreciation of tangible fixed as5et5
7,956
2,260
40,556
6,480
1,740
37,680
13

MERSÉA ISLANDTRUST
NOTESTO THE FINANCIAL STATEMENTS- Icontinuedl
YEAR ENDED 31 MARCH 2025
Interest and other fInan￿ income and charges
al Interest receivable and similar income
2025
2024
Bank interest receivable
Solar panel income
4.515
12.561
5,996
11,757
17,076
17,753
bl Interest payable and Similar charges
2025
2024
Bank loans and overdrafts
Trusiees
Ourin8 the year no trustees12024.'Nonel were reimbursed for expenses.
None of the trustees received any remuneration during the year.
Staff costs
The average number of employees during the year wa5 512024.. 51. They were all employed as wardens. deputy
warden5, cleaners or co-ordinator5.
The èggre8ate remuneration ol such employees was a5 101Sows'
2025
2024
Wages and salaries
112,310
106,152
112 310
There are no employees who received more than £60,000 as their employee package.
106 152
Board and key management ptrsonnel remuneration
No emoluments were paid or were receivable by the trustees or committee.
Tax
Mersea Island Trust is an exempt charity within the meanin8 of schedule 3 of the Charities Act 2011 and is
considered to pass the tests set out in Paragraph I Schedule 6 Finance Act 2010 and therefore it meets the
definition ol a charitable company for UK corporation tax purposes provided its income is applied to charitable
purposes only. Accordingly, no provision is made for corporation tax but this assumes that income continues to
be applied solely to charitable purposes.
14

MERSEA ISLANDTRUST
NOTES TO THE FINANCIAL STATEMENTS- Icontinuedl
YEAR ENDED 31 MARCH 2025
io
Tan8ible flxed assets
Housin8
properiies
lor letting
freehold5
Furniture
fittings and
equipment
Total
Cost..
At l April 2024
Additions
Disposals
2,193,232
49,033
41,792
16,566
2.235,024
65,599
At 31 March 2025
2,242,265
58,358
2,300,623
Grants from the Houslng Corporatlon
At l April 2024 and 31 March 2025
441,387
441,387
Grants from Low Carbon Bulldlngs Programme
At l April 2024 and 3 1 March 2025
64,846
64.846
Depredation..
At l April 2024
Charge for year
Depreciation on disposals
At 31 March 2025
510,487
34,720
3,940
5.836
514,427
40,556
545.207
9,776
554.983
Net book value..
At31 March 2025
1,190.825
48.582
1,239,407
At 31 March 2024
1176 512
1214364
All of the total c05t of household properties relates to completed schemes.
The freehold property at Akhurst Court, Melrose Road, West Mersea is vested in the name of the official
custodian lor charitie5. Mersea Court wa5 formerly the Coronation Memorial Trust property and 15 a
freehold property vested IN the name of the ollicial custodian for charities. Deducti ng grants from the
cost of the hou5irig propertie5 contr3venes the Companie5 Act however the trustees feel that thi5 IS
necessary to Show a true and fair view of the position.
During the year expenditure ol £ 111,565 12024.. £103.8811 on existing properties was made which
r@lates to routine maintenance rather than an enhancement of economic benefits to the housing
properties.
Current rebuilding costs for insurance purpose5 inclusive ol fees and VA T are £ S,205,379 lor Akhurst
Court and £3.586,900 for Mersea Court.
Grants from the Housing Corporation may become repayable under certain restricted circumstances
Such as the sale of property. In this event the grant repayable would become a current liability
subordinated to other creditors.
15

MERSEA ISLAND TRUST
NOTES TO THE FINANCIALSTATEMENTS- (continued)
YEAR ENDED 31 MARCH 2025
li
Dèbtors
2025
2024
Trade debtors Igr05S Social housing rent arrears)
15
15131
Other debtors
2,071
2.070
2.086
1,557
12
Ciedltors.. amounts fallln8 due withln one year
2025
2024
Trade creditors
Rent5 paid in advance
Other creditors
Actruals and deferred income
5.502
10,106
2,691
7,092
5,642
7,092
22,840
16

MERSEA ISLANDTRUST
NOTES TO THE FINANCIALSTATEMENTS- {continuedl
YEAR ENDED 31 MARCH 2025
13
Re5erve5
Provisional
Aftercare &
Community
Contingencv
Fund
Income and
Expenditure
Account
Total
At 31 March 2024
40,454
1,516,654
1,557,108
IDeficitll5urplus for the year
Transfers
42,292
42,292
At 31 March 2025
1 $58 946
1 $99 400
The income and expenditure reserve represents cumulative surplus and deficits net ol other adjusrments
bl The Provisional Aft
mm
PACCF
edRe
erv
Thi5 de5ign3ted reserve represent5 those monie5 the trust has built up over the ye3r5 to fund its work lor and
outside ol the provision of sheltered accommodation at Akhurst Court and Mersea Court.
The movernents on the PACCF during the year are included in the income and expenditure account shown on
page 8 of the accounts. A transfer was made from the income and expenditure account to the PACCF, of the net
movements in the year which are as follows'.-
2025
2024
Interest received
553
553
14
Auditors. Ethical Standards
The relevant circumstances requirin8 disc105ure in accordance with the requirement5 of APB Ethical standard
Provisions Available for Small Entities are that, in common with many ch8ritie5 of our 511e and nature we use our
auditors to assist with the preparation ol the accounts. Our auditors also provide payroll bureau service5.
17

MERSEA ISLAND TRUST
NOTES TO THE FINANCIALSTATEMENTS- Icontinuedl
YEAR ENDED 31 MARCH 2025
IS Re¢DncSllatlon of operatlng surplus to cash flow Irom operatlng actlvltles
2025
2024
IDeficrtll5urplus for the year
42,293
1.055
Interest P3V3ble
Interest received
Depreciation and impairment of tangible fixed assets
Ilncre35el in trade and other debtors
Increa5e/ld£crea5el in trade and other creditors
Loss on di5P05al ol tsngible fixed asset
14,5151
40,556
15291
17,5551
15.9961
37,680
15,180
9,505
17,662
Net cash Ilow from operatlng adlvltles
70,250
75,086
16
Pensions
The trust operates a workplace pension scheme for employee5. During the year the cost to the trust wa5 £ 4.856
and at the balariee sheet date an amount of £317 was due to the scheme provider.
17
Related party transactlons
There were no related party transactions during the year.
18
Crltlcal a¢tountln8 estlmates and judgments
In the application of the charities accounting policies. the Trustee 3re required to make judgements, estirnate5
and assumptions about the carrying amount ol assets and liabilitie5 that are not readily apparent from other
sources. The estirllates and a550ciated a5sumptiOn5 are based on historical experience and otherfactor5 that ar
considered to be relevant. Actual results may differ from these estimates. The estimates and underlyirig
assumptions are reviewed on an ongoing basis. Revisions to accounting estimates ère retogni5ed in the period
in which the estimate is revised where the revision affects only that peritsd. or in the period of the revision and
future periods where the revision affects both current and future periods.
The jud8ement5 that the trustees have made that have the most $18nificant effect on the amounts Tecogni5ed in
th£ financial statements 3re deterrnining whether there are indicators of impairment of the Charity'5 tangible
ssets. The factors taken into consideration when making the judgements include the economic benefit5 the
assets will provide to the charity.
The Trustees have not made any material estimates in relation to these financial ststements.
18

MERSEA ISLANDTRUST
PROPERTY REVENUEACCOUNT
YEAR ENDED 31 MARCH 2025
2025
2024
Akhur51
Court
Mer5ea
Court
Alhurst
Court
Mer5ea
Court
Total
Total
Income
Rent5
Ser¥i¢e Charges
82,635
143,280
74,416
107,700
157.051
250,980
76,992
119,664
67,692
99.600
144.684
219.264
225.915
182.115
IIOB.030
196,656
167,292
363.948
Losses arlsln8 from vacanf xcommodètion
16.4601
17.3641
12.3461
14et Income
225.oll
176.656
400.666
194,31Q
165,107
359.517
Expenditure
wardens 53larie5
wardens councll tax
helpline moniroring
rates
watÈr charges
31,007
848
,050
30,180
61,187
848
15,368
30,849
827
7.665
24,977
341
6,968
55,826
1,168
14.633
7.318
381
3.022
3.498
11.390
5,911
14.100
125
9.661
9.533
27.626
16.170
34.720
4.250
6.051
6.021
10.420
4,958
21,840
3.611
2.499
3.314
5.509
4.229
15.840
7.861
8.550
9.335
15.929
9.187
37.680
6.639
6.035
16,236
10,259
20.620
arden maintenance
properties
3,316
2,520
5,836
fittin85 aDd equipment
telephone
insurance
-105s on di5P05al
2,06S
3,992
2,058
3,992
4,113
7,984
2,676
12,8681
17.662
1,024
3,646
3,700
777
17.6S2
Totèl 5EThce cust
198,811
84,371
193.182
110.351
71.958
182,309
Management
25,562
596
1,060
1,677
5,108
588
540
45
25,562
327
1,878
1,677
5,108
930
51,123
923
2,938
3,354
10,216
1,518
540
90
24,535
1.5?3
1.424
19,708
24.535
873
1,188
16,149
49,070
2.446
2,612
3S,857
posiase anLI 5tatioDery
leg31 and profe5%0nal
accountancv
-bookkeeping
-advertising
-bank charges
45
Tot￿ rnan4ement ¢o#s
35,176
35.527
70,703
47,24
42,745
89,985
Routine m31ntenan¢e
47,911
63.654
111,565
S8,387
45,494
103,881
Tot31 oxpen5È5 bèfore Ilnan¢e ¢osts
191.898
183,552
375,450
215,978
160,196
376.174
Surplus on propertles before fln*ce cost5
33.113
ri.8971
25,216
121,6681
5,010
116,6581
Surplus on p¥opertSe5 after finaTrce c05tS
3J.iiJ
(7.8971
Z5.216
IZI.66BI
5,010
116,6581
19