Charity No: 206331
THE SAINT SAVIOUR'S ALMSHOUSES
Financial Statements
Year ended 31 March 2023

THE SAINT SAVIOUR'S ALMSHOUSES
CONTENTS OF THE FINANCIAL STATEMENTS
For thè y8ar endèd 31 March 2023
Charlty Infoimatlon
Strateglc Report
Trustee's Report
34
Independent Examlnerfs Reportto theTNstee
statement of Financial Activities
Statement of Financial Position
statement of Cash Flows
Notes to the Financial Statements
9-15

THE SAINT SAVIOUR'S ALMSHOUSES
CHARITY INFORMATION
For the year ènded 31 March 2023
TRUSTEE
First Garden Cities Homes Limited Isole Trustee)
REGISTERED OFFICE
Pioneer House
Noilon Way South
Lelchworlh Garden Cily
Hertfordshire
SG6 1NY
INDEPENDENT EXAMINER
Vincent Marke ACA,
Crowe U.K. LLP
Sl James House
Sl James Square
Cheltenham
GL50 3PR
BANKERS
NIA
CHARITY NUMBER..
206331

THE SAINT SAVIOUR'S ALMSHOUSES
STRATEGIC REPORT
For the year ended 31 March 2023
The Trustee presents ils report and the Financial Slalemenls for the year ended 31 March 2023.
PRINCIPAL ACTIVITIES
The principal activity of the Charity is the provision of Almshouses for the benefit of poor persons. not
less than 80 years of age. The Charity is based in Hilchin, Herlfordshire, with its registered office in
Lelchworlh Garden City.
REVIEW OF THE CHARETY
The land and buildings known as Saint Saviour's Almshouses (The Cloislersl Is owned by the Charity,
a nol-for-profil registered Charity. The surplus made by the Charity has been used in Ils entirely in
reducing the long-lerm funding facility extended by First Garden Cities Homes, the sole Iruslee, as
revealed in the following financial accounts.
The Charity has 10 owned proporties and has no external borrowings. The properties are managed by
First Garden Cities Homes.
LAND AND BUILDINGS
Propèrties in the Slalement of Financial Position are slated al cost. Al 31 March 2023 the cost lolalled
£1.1 m compared lo a valuation of £2.6m for insurance purposes.
FINANCIAL RISK MANAGEMENT
The Charity's activities expose il lo a number of potential financAal risks induding credit risk cash
flow risk. The Charity's principal financial assets are bank balances. rent arrears. other receivables, and
inveslinenls,
VALUE FOR MONEY
The Charlty belleves that a focus on expenditure levels ensures that efficiency continues lo improve.
We are committed lo achieving value for money on behalf of Dur residents by ensuring compelilive
procuiement of goods and service8.
£1 m lapprox.) has been sponl on rèlLirbishments since 2015, as part ol a programme designed lo
maintain our assets lo a high standard both now and for the fLJture, these were part funded by the sole
Iruslee.

THE SAINT SAVIOUR'S ALMSHOUSES
TRUSTEE'S REPORT
For the year ended 31 March 2023
The Trustee presents ils report and the Financial Statements for the year ended 31 March 2023.
TRUSTEE
First Garden Cities Homes is the sole Trustee. Ay Trustee, the Charily has lille lo the land on which Ihe
properties are built, in Ifust for the Charity and is requiied lo adminis16r and manage the properties,
STRUCTURE, GOVERNANCE AND MANAGEMENT
The Saint Saviour's Almshouses is a registered Charity, number 206331. The Almshouses were established
by a scheme dated 25 January 1935, amended by a scheme dated 29 May 1958 and further amended by
an order dated 14 February 2013.
The Charity seeks lo continue ils work through the careful ownership of existing resources and is responsible
for the management of 2 scheme of almshouses known as The Cloisters, Hil¢hin.
Rlsk Management
The Truslea is responsible for the management ol the risks faced by the Charity. Risks are identified.
assessed and ¢onlrols are established IhroughoLJt the year. The Trustee has consSdered the major risks to
which the Gharily is exposed and has established systems and pro¢edures lo manage those risks.
The Trustee is satisfied that the major risks identified have been adequately mitigated where necessary.
PUBLIC BENEFIT
Charitable Objects
The objects are to provide Almshouses for the benefrt of poor persons of not less than 60 years of age and
¢ommuni¢anls of the Church of England.
Oblectlves for the year
The objectlves for the year are shaped by these strategic aims.
FINANCIAL REVIEW
The Saint Saviour's Almshouses, surplus of £8,045 for the year ended 31 March 2023. which has been used
in ils entirely lo reduce the long-lerm Ilability of funding ￿ceiVed from the sole Iruslee al the lime of the
refurbishment programme in 2015. The Saint Saviour's Almshouses also incurred a £31,437 interest charge
in relation lo the afoTemenlioned long-lerm liability. The reserves al year end 31 March 2023 were £304,547.

THE SAINT SAVIOUR'S ALMSHOUSES
TRUSTEE'S REPORT
Forthe year ended 31 March 2023
ACCOUNTING AND REPORTING RESPONSIBILITIES
The Trustee is responsible for preparing the Trustee's Report and the financial statements in accordance with
applicable law and United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting
Standards).
The law applicable ID charities in England and Wales requires the Trustee lo prepare financial slalemenls for
each financial year which glve a tru& and fair view of the slate of affairs of the charity and of the incoming
resources and appllcalion of resources of the charity for that period. In preparing these financial slalemenls, the
Trustee is required lo..
Select suitable accounling policies and then apply them consi4lenUy',
Make judgments and estimates that are reasonable, and pnjdenl.,
stale whethèr applicable accounting standards and slalements of recommended practice have
been followed, 5u4.ecl lo any departures disclosed and explained In the Financial Slalemenls,
and.,
Prepare the Financial Slalemenls on the going concern basis unless il is inappropriate to presume
that the Charity will continue in operation.
The TrLJslee is responsible for keeping aCGounling records which disclose with reasonable accuracy the
financial position of the Charity, and which enables il lo ascertain the financial position of the Chaiity and
which enables il to ensurts that the Finan04al Slalemenls complywih Ihe Charities Act 2011 ancl the Charrty
IAcGoun15 and Reports) Regulations. The Trustee is responsible for safeguarding the assets of the Charity
8nd hèn¢e forlaking reasonable steps for the prevention and detection olfraud and other irregularities.
The Slralegr Ropth and fruslee's Report were approved by the Trustee on 21yi July 2023 and signed on
behalf by.
Rlchard Laval

SAINTSAVIOUR'SALMSHOUSES
INDEPENDENT EXAMINER'S REPORT TO THETRUSTEE
For the year ended 31 March 2023
I report lo the Iruslees on my examination ol the accounts of The Saint Saviour's Almshouses for the ye
ended 31 March 2023 which are sel out on pages 6 10 16.
This report is made solely to the charity's Iruslee accordance with section 154 of the Charities Act 2011.
My independent examiner's work has been undertaken so that I might slate to the charity's Iruslee those
matlers12m required lo stale lo them in an indepenolenl examiner's report and for no other purpose. To the
fullest exlenl permilled by law, I do not accept or assume responsibility lo anyone other than the charity, the
Charity's members as a body 2nd the charily's trkJSte6 for my independ&nt ex8miner's work, for this report,
or for the opinions I have formed.
Re5pon5ibilities and basis of report
As the charity Iruslees of the Trust you are responsible lor the preparatlDn of the accounts in accordance
with the requirements of the Charities Act 2011 I'lhe Acl'l.
I report in respect ol my &xaminalion of the Trust's accounts carried out under section 145 01 the 2011 Act
and in carrying out my examination I have followed all the applicable Directions given by Ihe Charity
Cornmission under section 14515llbl of the Acl.
Independent examinerfs statement
I have completed My examination. l Confirm that no material mallers have come lo my attention in
connection with the examination giving me cause lo believe that In any material respect..
accounting records were not kept in respect of IhB Trust as r¢quired by section 130 of the Act," or
2. the accounts do not accord with those records,. or
3. the accounts do not comply with the applicable rèquirements Concerning the form and content of
accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any
requirement that the accounts give a 'true and lar view, which is not a matter Considered as parl of
an independent examination.
4. the a¢counls have not been prepared in accordance with the methods and principles ol the
Slalemenl ol Recommended Practice for accounting and reporting by charities applicable lo
charities preparing their accounts in accordance with the Financial Reporting Standard applicable in
the UK and Republic of Ireland IFRS 1021.
I have no concerns and have come across no other mallers in connection wlth the examination lo which
attention should be drawn in this report in order lo enable a pioper unoserslanding of the accounts lo be
reached.
o.L t-
ncenl Marke ACA
Crowe U.K. LLP
Sl James House
st James Square
Chellenham
Gloucestershire
GL50 3PR

STATEMENT OF FINANCIAL ACMVIMES
For the year ended 31st March 2023
Notes Unrestrlcled Restrlcled
Funds
Funds
Total
Total
2023
2022
Incomo from..
Donations andle9￿
Charltable adiviliss
Olherlra(Slngacti¥ibes
65,192
65.192
62,e84
Total Income
66.192
65.192
62,684
Expèndltura on..
129.0041
129.W41
149,0511
Total Expendlture
129,0041
129,0041
149.0611
Net Irb¢omtl Itxp6ndltur¥l b&foro Investment g•ln$ I1108$081
3&1B7
36,187
13.633
Flnance IKoma
Iniéwi pay¥blè and fin8ntsno ws
Nel gaIn￿ Ilossesl on Swestwls
(31.4371
2,g91
131,4371
2,991
12,628
Net Incom￿ lexpeodlturel for the year
8,046
8,045
26,261
Rèconclllatlon of lunds..
und balances al lh8 start of the year
Fund balances at the end ol the year
296.502
3D4,547
296.502
304,647
270.241
296,502
The financial statements were approved by the board on 20￿ July 2023 and were signed on 14
September 2023..
Richard Laval
Boar(I Chalr

STATEMENT OF FINANCIAL POSITION
For the year ended 31 March 2023
2023
2022
Notes
Fixed Assets
Housing properties
Investment
878,067
45,262
893,126
42,271
10
Total Fixed Assets
921,329
935,397
Current Assets
Debtors
Cash at bank and in hand
Total Current Assets
3,980
63
10,236
10,299
3,980
Current Llabllltr8s
cr￿lIOrs.. amounts falling within one year
18,3401
16,5111
et
urrent
ssets
14,3601
3,788
sse
ess
urren
ies
Creditors falling due after more than one year
12
612,422
642,683
Totsl NetA85et8
304.547
296,502
Unrestricted Income Funds
General funds
304,547
296,502
Total Charlty Funds
304,547
296,502
The financial slalemenls were approved by the bDard on 201h July 2023 and were signed on 141h
September 2023..
Richard Laval
Board Chalr

STATEMENT OF CASH FLOWS
For the year ended 31 March 2023
2023
2022
Note5
Cash flows from operatlng activltles
Nel incomellexpendilure) for the year
Adjuslmenls for..
DepreciabDn charges
{Galns)Ilosse5 on Investtnerits
Income from investmenls
{Increaselldecrease in stooks
Ilncreaselldecreas8 in debtors
Incre8selldecreasel in Qredilois
Incr88selldecrea581 in provisions
Interest payable
Net cash In I loutlflow from operating actlvlties
8,045
26,261
17,060
12,991)
44.825
(12,6281
10
13,917)
128,433}
1241
158,5651
31,437
21,201
11311
Cash flows from flnanclng activlties
Interest paid
Net cash in I loutl flow from financing activitie8
131,43n
131,4371
Change in cash in the year
110,2361
{1311
Cash and cash equivalents al the beginning of the year
Cash at the end of thè year
10.236
10,367
101
10,236
l April 2022
Cash Flows
31 March 2023
Nèt fund5 r8conciliation
Cash at bank and in hand
10,236
110,2361
101
Net Cash
10,236
110,2361

STATEMENT OF CHANGES IN RESERVES
Forthe year ended 31 March 2023
Revenue Reserves
2023
2022
Balance at 1 Aprfl
296.502
270,241
Total comprehensive Income for the year
8,045
26,261
Balance at 31 March
304,547
296,502

THE SAINT SAVIOUR'S ALMSHOUSES
NOTES TO THE FINANCIAL STATEMENTS
For the year ended 31 March 2023
AGCOUNTING POLICIES
(a)
Basls of Accountlng
The financial Slalemenls have been prepared in accordance with the Slalemenl of
Recommended Pra¢lice.' Accounting and Reporting by Charities preparing their accounts in
accordance with the Financial Reporting Standard applicable in the UK and Republic ol Ireland
IFRS 1021 Issued in October 2019 and the Financial Reporting Standard applicable in the Unilod
Kingdom and Republic ol Ireland IFRS 1021 and the Charities Act 201 l and UK Generally
Accepted Practice as il applies from l January 2019.
The Saint Saviourfs Almshouses is a public benefit entity, as defined in FRS102, and applies the
relevant paragraphs prefixed 'PBE' in FRS102.
Ib}
Going Concern
The financi81 statements have been prepared on the going concern basis. An organisation is a
going concern if it is expected lo continue operations for the next twelve months. First Gaiden
Cities Homes as the sole Iruslee of Saint Saviour's have assessed the ability lo continue as a
going concern for twelve months after the signing of the year end 2023 accounts.
Icl
Turnover
Turnover iepresenls resldenls, charges receivable in respeGt ol Almshouses.
Id}
Housing Properties
Housing properly cost includes the cost of acquiring land and buildings, development costs, interest
charges incurred during the development period and expenditure incurred in Tespecl of
improvements.
Works lo existing propeth'es are works which result in an increase in the nel rental income, such as
a reduction in future maintenance costs, or result in a significant extension of the useftjl economic
life of the woperly in the business.
Depreciation is calGulaled lo write off the Cost of fixed assets on a slraighl-line basis over their
eslimaled useful lives.
The useful economic life of the structure is 100 years.
Major components are Irealed as separable assets when replaced and depreciated over their
expected useful economic lives or the lives of the properlie5 to whiGh they relate, if shorter al the
following annual rates..
Roofs
Kitchens
Balhiooms
Windows
50 years
20 years
30 years
30 years
30 years
RewiringlEle¢trical 30 years
Thermal boarding 20 years
Central healing
30 years
Lrft
30 years
Boilers
15 years
Freehold land is not depre¢ialed.
10

THE SAINT SAVIOUR'S ALMSHOUSES
NOTES TO THE FINANCIAL STATEMENTS
For the year ended 31 March 2023
Investments
Investments are slated al fair value (market value). Changes In market value are taken to the
statement of Comprehensive Income.
Taxation
The Charity has charitable status and therefore is not subject lo Corpor8tion Tax on its surplus
arising from charitable aclThiilies.
Igl
VAT
The Charity is not VAT registered. Expenditure is therefore shown inclusive of VAT.
Ihl
Financlal Instruments
Financial assets and financial liabilities are recognlsed when the Charity becomes a party to the
contra¢lual provisions of the inslrumenl.
Flnancialassets carried at amortised cost
Financial assets carried al amortised cost comprise rent arrears, trade and other receivables an
¢ash and cash equivalents. Financial assets are initially recognised al fair value plus directly
allribulable transaction costs. After initial recognition, they are measured al amortised cost using
the effe¢live interest method. Discounting is omilled where the effect of discounting is immaterial.
If there is objective evidence that there is an impairment loss, the amount of the loss is measured
as the difference between the asset's Carrying amount and Ihe present value of estimated future
cash flows discounted al the financial asset's original effe¢live interest rate. The cairying amount
of the asset is redu¢od a¢¢ordingly.
A fi'nancial asset is dere¢ognised when the contractual rights to the cash flows expire, or when
the financial asset and all substantial risks and reward are Iransferred.
11 the arrangement Conslilules a financing Iransaclion, the financi81 asset is measured al the
present value of thè future payments discounted al a matkel rate of interest for a similar debt
inslrumenl.
Flnanclal Ilabllitles carried atamortised cost
These financial liabilities include trade and other payables.
Social Housing Grant ISHGI and other grants
Vhere grants are received from goveinmenl agencies they are recognised when there is
reasonable assuranee that the conditions allached to them will be complied with and that the grant
will be received.
Government grants are Tecognised using the accrual model and are classified either as a grant
relating lo revenue or a grant relating to assets. Grants relating to revenue are re¢ognised in
income on a syslemalic basis over the period in whi¢h related costs for which the grant is intended
ID compensate are recognised. Where a grant is receivable as Compensation for expenses or
losses already incurred or for the purpose of giving immediate financial support with no future
related ¢osls, it is re¢ognissd as r&v8nue in the period in whiGh il becomes receivable.
Grants relating lo assets are recognised in income on a syslemalic basis over the expected useful
life of the asset. Grants received for housing prDperties are recognised in income over the
expected useful life of the housing property slruclure. Vvhere a grant is received specifically for
components of a housing property. the grant is re¢ognised in income over the expected useful life
of the component. Granls received from non-governmanl sources are recognised as revenue
using the performance model.

THE SAINT SAVIOUR'S ALMSHOUSES
NOTES TO THE FINANCIAL STATEMENTS
For the year ended 31 March 2023
ReGycling of grants
Vlthere there is a requirement lo either repay or recycle a granl received for an asset that has been
disposed of, a provision is included in the SlaleFFTrenl of Financial Position lo re¢ognis& Ihis
obligation as a liability. When approval 15 received from the funding body lo use thè grant for 8
specific development, the amount previously recognised as a provision for the recycling of the
grant is reclassified as a creditor in the Slalement of Financial Position.
On disposal of an asset for which government grant was received. if there is no obligation lo repay
the grant, any unamortised grant remaining within liabilities in the Slalemenl of Financial Position
related lo this asset is derecognised as a liability and recognised as revenue in surplus or delicil
in the Slalemenl of Financial Activities.
12

NOTES YO THE FINANCIAL STATEMENTS
For the year ended 31st March 2023
2 PARTICULARS OF INCOME AND EXPENDrruRE
FROM LETTINGS
St Savlours
2023
2022
General Needs Housing Accommodation
Tumover from social housing lettlngs
Rents receivable
Grant amortised
64,852
340
62,297
387
Total Incoma from lèttings
65,192
62,684
Expendlture on letting actlvltles
Services
Management
Depreciation on houslng pmpertiès
Routine maintenance
Cyclical maintenance
Planned Maintenance & Major Repairs
2,248
928
17,058
8.772
1,807
480
44,825
1,939
Totsl expenditure on lettings
29,004
49.051
Operating surplus on lettlng aetlvities
36,188
13,633
Volds
3 FINANCE INCOME
2023
2022
Interest receivable from short term bank deposits
304
4 INTEREST PAYABLE AND FINANCING COSTS
2023
2022
Interest payable from inloicotnpany loans
31.437
6 SURPLUS FOR THEYEAR
2023
2022
Surplus foi the ye8r is slated after charging..
Independenl examiners, remuneration=
428
480
6 STAFF COSTS
The Charity does not employ any staff.
13

NOTES TO THE FINANCIAL STATEMENTS
For th8 year ended 31st March 2023
st Saviours
2023
7 TANGIBLE FIXEDASSETS- HOUSING PROPERTIES
2022
Cost
Al l April
Additions
Disposals
31 March
1,092,980
1,092,980
1,092,980
1,092,980
Depreclatlon
AIIApr
Charge for the year
199.853
17.060
155,029
44,825
At 31 March
216,913
199,853
Net book value
Al start ol yoar
893,126
937,951
Al end of year
876,067
893,126
8 DEFERRED INCOME-GOVERNMENTGRANTS
2023
2022
Al 1 April
Opening Balance Adjustmènt
Amortisalion lo Slalemenl of Comprehensive Income
14,281
14,867
1471
13401
{3401
Al 31 March
13,941
14,281
Due < 1 year
340
340
Due > 1 year
13,601
13,941
14

NOTES TO THE FINANCIAL STATEMENTS
For the
earended 31st March 2023
st Savlou
9 DEBTORS
2023
2022
Amounts falling due wilhin onp year.
Ariears ol tent and seivice ch8rg8s
Otherdebtors
3,917
63
3,980
63
10 CURRENT ASSET INVESTMENTS
2023
2022
397 NAACIF Accumulation shares
At 1 April
Rev8lualion
42.271
2,991
29.643
12,628
At 31 Maich
4S,262
42,271
11 CREDITORS
IAMOUNTS FALLING DUE WITHIN ONE YEAR)
2023
2022
Trade Creditors
Other Creditors
Accruals
Governmentgrants (note 71
4,435
2,571
1,024
4.667
480
340
340
8,340
6,511
12 CREDITORS
(AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR)
2023
2022
Governrnenl grants Inole 71
ounts owed to parent und8r tsking
13,601
598,821
13,941
628.742
612,422
642.683
15