REGISTERED CHAIUTY NUMBER: 207020
Report of ihe Tru5tee5 and
Fin4n¢i41 Siatemenls lor tbe Year Eftded 31$t Mirch 2024
for
The College of Cobham
Beak Kemmenoe
Chanered Accountants
1-3 Manor Road
Chaiham
Keni
E4 6AE

The Nem" College of Cobh*m
Contents of the Financial Statements
For the Year Ended 315t Mar£b 2024
Page
R¢f¢rence and Administraiion fktsils
Report of the Trustees
2to4
Independent Auditorfs Report
5108
Siaiemenl of Financial A¢tlVllies
Statement of Financial Position
10
Noles to the Financial Statements

Tht Llem. College of Cobham
Reference and Administration Details
For the Year Ended 31st %larcb 2024
Trvstee$:
D Butler- Vice President
R G Cooper- President
P Filmer
J A Ogden DL
R Dymond DL
M Jackson
Clerk to the College:
C Stanton
Prlnclpal Office Addre59:
Cobhambury Road
Cobham
Grai'esend
Kcnl
DA12 3BG
Registered Ch)Irlty Number:
207020
Independent Audlior5:
B¢ak Kemmenoc
Chan¢rcd Accountants and
Re¥isiered Auditors
1- 3 Manor Road
Chatham
Kent
ME4 6AE
Bankers:
National W¢siminster Bank
40 High Str¢el
Rochester
Keni
MEI ILR
Page I

The.NeM" College of Cobham
Report of the Trustees
For the Tr'ear Ended 315t l¥larrh 2024
Structure. Goi'ernance and ￿1#￿￿geMent
The New College of Cobham is a regist¢r¢d Almshouse Charity goi'emed by Act of Parliament 011597 and
by the Charities Act 2011.
The Chariry is administered by a board of six truslees. The President and Vice President are ihe setving
Senior and Junior Wardens of the Rochesier Bndgc Tn￿t. One In￿ree is nominated by the Rochester Bridge
Trust to Serve for a period of liv¢ yfdf5. The remaining three tA￿Le¢S are cO￿pIed local trusiees who are
elected for periods of fil'e years.
The Charity has adopted and ¢omplied with the National Housing Federntion Code of Governan¢¢ 2015.
Objectlves and A¢tlvStles
The Charity proN'ides sheltered accomm(Klaiion for pensioners from Ih¢ ancient parishes of Chalk, Cliffe.
Cobham. Coolin8. Cu.xton. GrdVLsend, Hallin& Hi¥ham. Hoo. Hoo Si Mary. Shorne and Strood. who are
members of the Church of England.
ThL Chariry is & publiL benefii eniiry and the Trusiees have had regard to ihe 8uidan¢e issued by the Charity
Commission on public bencfii.
ThL Lharily administers thirry five flats in Iwo complexes. includin8 a guesi flal and one tlat is sd aside for
th¢ ￿arden.
ThL fir%t complLX is th¢ College Itself. M'hich w'as originally built as a Chantry College in ihc year 136? 11
'as rc.Idified as an Almshou5c on 29ih September 1598. The interior was again refurbished in 1980
Con￿erting it into twelle modern self contained Ilais. one guest flai. an office and a large meeting hall. The
complex is Grade One lisied and open to the publi¢.
The s¢¢ond complex is known as Stonehouse Yard and is situated al)oui ttN'enty yard5 from the Coll¢g¢ and
Comprises of Iw¢niy two modern self contain¢d flats. Thc first Ph￿ of sixtttn flats was completed in 1993.
with an ¢xi¢nsion of a further six flats cotnplcled ID 2012.
The Charity aims pro￿lde value for money for its tenants by deliv¢ring high quality accommodation whilst
ke¢pinK a control on cosis.
The Charity has complied with The Governance and Financial Viability Standard.
Achlei'ements. Performance #nd FiDaDcial Reiie
Thc Almshouses are currently all occupied. There were no ¢hang¢s of tenancy during the reporting period so
no void months.
Extensive works were carri¢d out on the roolof ihe colleg¢ building costing £217,836. which has caused a
significant deficit for the year aThJ reduced Ihe Chariry's a¢¢umulated reserves.
Th¢ TTUStees continue to ¢onsidcr ihat the Charity's financial ￿SlI10￿ 15 secure with iniestments valu¢d at
£128,495 and bank balan¢¢s totalling £163.342.
Page 2

The New" College of Cobh*m
Report of the Trustees
For tbe Trear Ended 31st March 2024
Achievements, P¢rform4nce and Financial Review- continued
The Charity plans lo run at a small surplus in the coming Yea￿ to ensure the reseTh'es are resiored to a level
exceeding £1.300.￿0. This will ensure ihai the Charity can continue to provide quality housing by Carrying
out Tepairs when ihey are required. and ils tenanls continue to receive value for money.
Statement ofTrustees' Respon$lbllitlts
The Trustees are responsible for prepanng the Rewrt of the TTUSlttS and ihe Financial Staiements in
a¢cordance with the Hgusing SORP 7018. Uniied Kingdom Generally A¢¢ept¢d Accounting Practic¢
(United Kingdom A¢¢ounling Standards and applicable lawl. including FRS 102 'The Financial Reporting
Standard applilable in th¢ UK and Republic of Ireland, A¢¢ountin¥ Direction !019, the Charities Aci 2011
and all other applicable law.
The law applicable to chariii¢s in England and Wales rcquircs the Trusiees to prepare Financial Siatcm¢nts
for cach financial year which gil'e a rruc and fair I'iew of the statc of affairs of the Chariry and of the
incoming resource5 and application of resources, including the income and expendiwre. of ihe Charity for
that period. In Preparing those Financial Statements ihc Trustccs arc required to..
select suitabl¢ accounting policies and apply them consistently:
- obscrvc th¢ m¢ihods and principles in the Housing SORP 2018:
mak¢ Judgements and eslimates that are reasonable and prudeni- and
prepare the Financial Statements on a going ¢onc¢m basis unless il is inappropriale io presume that the
Charily will continue in business.
The Trustees are responsible for keeping prop¢r accounting records which disclose, with reasonable ac¢ura¢y
at any time. the linancial position of the Charil>' and lo enable Ihem io ensure thai Ihe Finan¢i¥l Stalements
Comply with the Charities Act 2011 and irust d¢cd provisions. They are also responsible for safeguarding the
asseis of the Charity and hen¢c for thkn.ng reasonable sieps for the prevention and d¢t¢Clion of fraud and
other irregularities.
Statement as to Disclosure of Information to Auditor5
So lar as the Trustees are aware, Ihere is no relevant audit infornation of which th¢ Charity s auditors are
unaware, and each Trnst¢¢ ha5 taken all the steps thai they ought io hav¢ taken 05 a Trnstcc in order to make
th¢ms¢lv¢s awar¢ of any rele%'ant audii inforniaiion and to estsblish that the Charity's auditors are aware of
Ihat infom)aiion.
Page 3

The New College of Cobham
Report of the Trustees
For the I'eAr Ended 31st Nlllr¢h 2074
The Trust¢es have appro￿.ed the report above for the ￿ear ended 31 March 20?4 and have authorised me io
sign 1¢ on their behalf.
R Cooper- Presideni
Dat¢ of Approial..
Pagc 4

IndependeDt Auditor's Report ¢0 the Trustees of
The New. College of Cobham
We ha￿e audited the Financial Statements of The New College of Cobham for th¢ ycar ended 31si March
2024 comprise the Stat¢m¢nt of Financial Acti%'iti¢s. Statcmcnt of Financial Position and Notes to the
Financial Siatemenis. including A swnmary of significanl accounting policies. The financial reportin
framework thai has b¢en applied in th¢ir pr¢paration i% applicablc la￿ and Uniied Kingdom Accounting
Siandard5. including Financial Reponing Siandard 102 The Financial Reporting Sianiknd appliLable in the
UK and Republic of Ireland, Iuniied Kingdom Generally Accepted AccouniÈng Pra¢tice}.
Opinion on Fin*ncial Statements
In our opinion Ihe Financial STaiemenis'.
give a rrue and fair view of ihe stste of the Chariri s affairs &% ot 3 Isl March 20?4 and of lis incoming
resources and application of resources, including its in¢om¢ and expcndilure, for the year then cndLd:
have been properly prepared in accordqnce with Umted ￿ngdO[n Generally Accepted Accounting
Practice. and
have be¢n prepared in accordance with the requiremenls of the scheme sei up under th¢ Charities {The
New Collcge of Cobhaml Order 1978. Ihc Chariics Aci ?01 l. the Aci of Parliameni of ¢h¢ year 1597
and amended by Section 14 of the Rochesler Bridge Aci 1908.
Ba$ls for oplnlon
W¢ conducted our audit in accordance with International Siandards on Auditing IUKI IISAS IUKII and
applicable law. Our responsibilitlLS under ihose $iandards are furth¢r de8crib¢d in thc Audiiors,
rcspon5ibilitie5 for the audit of the financial $iat¢m¢nis s¢ciion of our report.
We are independent of th¢ Chariiy in g¢cordan¢e with the thhical requirements that are relevant to our aLidii
of the financial siatemenis in rh¢ LIK. including Ihe FRC'S Eihical Standard. and the pro&'isions al'ailablc for
small eniiiies. in the ¢ir¢umstances sei oul in note thirteen lo the financial statemenis. and we hav¢ fuifill¢d
our other ethiLal r¢spunsibiliti¢s in accordance with ihese requirement%. 11 e belieKe that the audit efvidenLe
we hal'e obtained is sufficient and appropriaie to pro%'ide a basis for our opinion.
Con¢lu$long rel¥tlng to golng eontern
In auditing ihe financial s¢alcmcnt5. wc have concluded ihai the Tru.sitts' us¢ of th¢ going ¢onc¢m basis of
a¢couniin8 in th¢ preparation of the financial statements is appropriate.
Bascd on the ￿'ork we hai'e perfonned. we haie noi identified any material un¢¢rLiinii¢s r¢l)ting to ¢￿entS or
conditions that. individually or ¢olle¢iiv¢ly. may ¢ast 5ignifi¢ant doubt on the Cliarity's ability to continue as
a going concern for a peri(xl of ai l¢a31 tweli'e months from when the financial stp¢ement5 are authorised for
issue.
Our responsibilities and the r¢spon$ibiliiies of ihe TnLStees with re5pe¢t w going concem are described in the
relevant sections of this report.
Other information
The Trustee5 ar¢ r¢sponsible for the other infomiaiion. The other inforniation comprises the infomation in
the Report of the Tn]st¢¢s. but doc5 not includc thc financial statements and our Repon of the Audiiors
ther¢on.
Our opinion on the f￿￿n¢la1 stat¢m¢nts does noi cover the other infornution and, except io the extent
oihetwise expltciIIy 5tat¢d in our report. w'e do not express any forn) of assurance conclusion thereon.
Page S

Independent Auditor's Report to the Trustees or
The le￿. College ofcobbam
Other information (continued)
In connection w'ith our audil of the financial statcments. our responsibility is lo read ihe other infom)ation
and, in doing so, ¢onsid¢r whether the other information is rnalerially inconsistent wilh the financial
staiemenis or our know.ledge obiained in th¢ audit or othenvise appears to be materiall>' missraied. If we
identify such matcrial inconsisiencies or appareni material misstaiemenrs. we are required to d¢t¢rmin¢
whether this gil'es rise lo a maierial misstatemeni in ihe financial siaiements themsel￿e8. If. based on the
work we have perfornied. we conclude ihai there is a material misstatement of ¢his other infornmtion, we are
required to rewrt ihat fact. We hai'e noikn'ng to report in ihis regard.
latters on which we are required to report bi ex¢eptlon
In (hL lighi of ihe knowlLdgL and und¢rsiandinK of th¢ Chari¢y and lis environmeni obtained in the course of
the audit. we have noi ideniified materittl misslat¢tnenls in the RewTrrt of the Trustees.
Re$pon$lbllltles of the Trn$tee$
As explaincd more fully in thi Statement of Tn￿tees, Responsibiliiies s¢1 oui on page tw'o. th¢ Trustees are
responsible for the preparation of the financial siaiemenis and for being saiisfied Ihat ihey giv¢ a true and fair
view, and for such iniLrnal control as the Trusiees deiermine necessary to ¢nabl¢ the preparation of financial
statemenls that are free from material missiaiement. w'heiher du¢ io fraud or error.
In preparing the financial statements. the Trustees ar¢ r¢s￿￿1b1¢ for assessing the Charity's ability ¢0
continue as a going concern. d1￿10S1n8. as applicable. man¢rs r¢lated 10 80in8 ¢onc¢rn and using the ¥oing
Concern basis of ac¢ounlin8 unless th¢ Trustees eiiher intend to liquidaie ihe Charity or to cease operations.
or have no realisti¢ ali¢rnatii'e bui io do so.
Audltor's responsibllltle$ for the *udl¢ of Ihe Ilnlnclal statemenls
Our objeLliv¢¥ are io obtain reawnable assuranLc aboui ￿'h¢theT the financial statements as a whole are free
from mJi¢rial mi&%ialemcnl. whcihcr duc to frnud or error. and to issue a Repon of the Auditors that inLludes
our opinion. Reasonable assurance Is a high lei'el of assurnncc. but is nol a guarantee thai an audii conduLi¢d
in accordance ￿'Ith ISA5 IUKI will always delect a maierial misstaiemeni w.hen il exisis. Misstatem¢nt% cJn
arisc from fraud or error and are considered material if. indiKidually or in the aggregate. Ihey could
rLasonably bc expected io Influence the economic decisions of users tsken on the basis of ihese finan¢ial
slalements.
Th¢ ¢xtent to which our pr￿edureS ar¢ Capable of d¢iec¢ing irregularities. including fraud is detailed below..
Our approach to identifying and assessing the risks of material misstatement in respect of irregularities,
including fraud and non4omplian¢c M'ith laws and r¢gulaiions. th'as as follows.
The engagement partner ensured that the engagement team colleciivel). had the appropriate competence.
capabiliii¢s and skills to identify or recognik non<ompliance with applicable law's and regulations.
We identified the laws and regulations applicable to the Chariiy through discussions with Ttustees and
oth¢r tnanagcmcnt, and from our commercial knowledge and experience of the business sector;
We focused on Sp￿lf1¢ laws and regulations which we considered may hai'e a direct material effeLi on the
finaTLcial st&t¢m¢nlS or the opcrations of ihe Charily. including taxation legislaiion and data protection.
anli-bribcry, cmployment and health and safery legislation:
We assesscd the extent of compliance with the laws and regulatio￿ identified above through making
enquiries of Tnanagement: and
Pa8e 6

llldependent Auditor's Report to the Trustees of
The le￿. College of Cobham
Auditors, responsibilitie5 lor the audit of the financial 5talement$ {coDtinued)
IdLniified law's and regulations ￿'ere communicaicd ￿'1th1n ￿le audit tcam regularly and th¢ team remained
alert io instances of non-compliance ihroughoui ihe audit.
Wc assc5sed th¢ sus¢eptibiliiy of the Chariry's financial statements io maierial misslatement. including
obtaithing an understanding of how fratsd might occur. by-.
Making enquine5 of managernent as to where they considered there was susceptibility io frdud, their
knowledge of actual, su5pe¢ted and Jlleged fraud: and
Considering the internal controls in place to miligaie risks of fraud and non-compliance with laws and
regulations.
To address ihe risk of fraud ihrough managemeni bias and o%erride of conlTols, we:
Perfomed analyiical procedures to id¢niify any unusual or unexpected relationship5-
-Tested Journal enlries io iden¢ify unusual transactions:
A5scssed whether judgements and assumpiions made in detemiining lh¢ a¢couniing estimates were
indicati&'e of potenlial bias: and
Invesliguied the rationale behind significant or unusual transaclion5.
In rebponse io th¢ risk of irre8ulariiies and non-compliance with laws and regulaiions, we designed
proLedures whiLh inLluded. bui were noi limiied to..
- Agreeing financial statem¢ni disclosures to underlying supporting documentation. and
Enquiring of mana¥emeni ￿ to actual and poieniial litigation and claims:
A further descriplion of our responsibililies for ihe audii of the financial siai¢menis is located on the
Financial Rcporting Cguncil's website at wWw.fr¢.org.U￿&vd1tOrsrcsp0n$1bIlitI¢s. This description fornis pan
of our Report of the Audiiors.
Page 7

Independent Auditor's Report to the Trustees of
Tbe Nem College of Cobbam
Use of our report
This report is made solely to the Charily's Trustees. as a body. Our audit work has been undertaken so that
w¢ might slate io ihe Chariiy's Trustees those matteT5 we are rcquired to stale to th¢m in a Report of the
Auditors and for no other purpose. To the fullest extenl pennittcd by law. we do noi accept or assutne
responsibility to anyone oiher ihan ihe Charity and the ChariW5 Trustees as a Erf)dy. for our audit work, for
this report. or for the opinions we have fomled.
Natalie Harrison FCA FCCA CTA TEP (Senior Sthiuiory Auditor)
for and on behalf of Beak Kemmenoe
Chartered Accountants
& Statutory Auditors
1-3 Manor Road
Chatham
Keni
ME4 6AE
Dale: 9 April 2025
Page 8

The ￿ev* College of Cobham
Statement of Financial Actii'ities
For the Year Ended 31st March 2024
20?4
2023
Noi¢s
INCONIE AND EYDOMTrIENTS FRONI:
Charitable actil'ilies
Investments
231.855
3.208
221.161
1.420
Total
235.063
222.581
EXPENDITURE Oi%:
Charitable a¢iiN'ities
401,467
204,713
Total
401.467
204,713
OPERATING SURPLLSI(DEFICIT)
166.4041
17.868
NET GAIN'S A￿D LOSSES O
INN'ESTIIEYTS:
Gain&'lloss¢s) on invesimeni assets
11.8041
TOTAL COIIPREHEINSIVE IYCOIIE
AND NET ￿lOvE1]EN'T IN FLNDS
152.495)
16,064
RECON'CILIATIOY OF FUliDS:
Total funds broughi (orward
1.383.228
1,367.164
TOTAL FUYDS CARRIED FORWARD
.230.733
1.383.228
COYTIYUIliG OPERATIONS
All income and expenditure have arisen from continuin8 actii'ities.
RESTRICTED FUNDS
No restrictions have been placed on any of ihe Charity's incoming re50ur¢eq in the year and a¢¢umulared
funds brought forward. Funds are used in accordance with the charitable obJ¢¢iii'es at the di5¢r¢tion of the
Trustees.
Page 9

The iNeiTr College of Cobharn
Sta¢ement of Financial Position
At 315t l¥larch 20?4
20?4
?02)
Notcs
FL￿D ASSETS
Houiing properiies
Other propert).
tnkesiments
10
10
922.669
37,200
128.495
940,441
114,i86
1,088.364
1.09• 117
CL'RREIST A.S.%ETS
Stocks
Dcbtors
Cash ar bank and in hand
4,S94
1,076
163 14?
4,)94
7,688
30i.06!
13
169.012
317,34)
CREDITORS
Amounr* lJlling diie ii'iihin orte )'ear
14
126,6431
126,3441
LYET CL RRt.NI' ASSET5
14? 369
291,001
TOTAL.4SSETS LESS CURRENT
LIABILITIES
1230.733
1,383 ??8
P*ET.4SSETS
1.230,7i3
1.393 ??8
Unresinct¢d bjnds
1.210,733
1.383 ?28
TOT.4L FLINDS
1 ?30.733
The Financial Srat¥menis iver¢ approied by rhe Board of Trusie¢s on
behalf by..
IW/ZS
Jnd ￿'¢re signed on 115
R Coop¢r- Presid¢nL
R DN'mond DL- Tnlstee
Paee 10

The Ne*. College of Cobham
Notes to the Financial Siatements
For the Yegr Ended 315t hlarch 2024
STATUTORY INFOR,IIATIO
The Ncw College of Cobham is a registered Almshouse Chariry goi'erned by Act of Parliament of
1597 and by th¢ Chariiies Act 201 l. The Chariry's registered number and prin¢ipal office add￿5$ can
b¢ found on page l.
ACCOUNTING POLICIES
Basls of preparing ihe Financial St*tem¢nts
Th¢ financial siatem¢niN of the ChariN' ar¢ prepared in accordance wilh UK Generally A¢¢epted
A¢¢ouniing Practic¢ ILK GAAPI including The Chariiies SORP Financial Reporting Standard l Q2
'Th¢ Financial Reporting Siandard applicablc in the Uniied Kingdom and Republic of Ir¢lond' IFRS
1021 and ihc Housing SORP ?018.. Siaremeni of Re¢ommendcd Practice for Registered Social
Housing Providers and compl). wilh the Accounlin¥ Dir¢¢iion for PTivate R¢gisiered Providcrs of
Social Hou.sing 2019. excepi thai Certain freehold PTOP¢Tty is shown al ialuaiion whi¢h is explaincd in
more detail in Note 9. The finan¢ial sthtements have been prepared und¢r the historical cosi
convenlion. The Charity is a public benefii entity.
The provisions of Seclion IA 'Small Entities" of Financial R¢poning Standard 102 "The Financial
Reponing Sianddrd applicable in the UK and Republic of Ireland" and the Chority SORP do not
require a small entity lo pruduce a cash flow siaiement. The Charity has taken ad%'yniage of this
exemption.
The functionul and preseniaiion curr¢ncies of ihe financial statements are Pound Sierlin81£1.
Golng ¢on¢ern
The Tru5t¢cs have reviewed future budgets and cash flow projeciions in conjunction with the current
economic climat¢. in order to express an opinion on thc adequacy of workn'ng capiial and thc ability
for ihc Charity io continue as a goin8 concern for thc foresccable futur¢. The Trustec5 continul to
forecasi that the Charity will operate within its financial constraints for a period of at leas1 12 months
trom rhe approval of the financial slatements. There are no material uncertainti¢s aboui the Charity's
ability io continue.
Income
All income is recognised in rhe SOFA oncc the Charity is entitled io the funds. it is probable that the
in¢ome will be Teceii'ed and Ihe amount can be measured reliably.
Grants and donations are only included in the SOFA when ihe Charity has unconditional ¢ntitlemenl
to th¢ r¢sol￿ces.
Gain&'llossesl on inve5tm¢nt assets includes any gain or loss on the sale of investments and any gain
or loss rcsuliing from revaluing investtnens io markct value ai the end of the year.
Eipendlture
Liabilities are recognised as expenditure as soon as there is a legal or constructiv¢ obligation
commilting the Charity to that expenditure. it is probable Ihai a Iransf¢r of economic benefits will be
requir￿ in setilemeni and thc amouni olthe obligation can be mcasurcd reliably.
Page 11

The i%eM College of Cobh*m
Yote5 to the Fin#ntial Statemenls- continued
For the Year Ended 31st March 2024
ACCOLi%TING POLICIES 40ntinued
Charltable Activities
This compiise5 all the resources expended by the ¢hariry in undertaking its work to m¢¢1 its charitsble
objecti￿e$. It includes both the direcl costs of charitable aciiN'ities iogether ￿lth the support costs
incurred that ¢nabl¢ these acrivities io be undenaken. The Charity docs not spend r¢sour¢es raising
donation% and l¢ga¢i¢s. all expendinwe has been ¢aiegorised as charitable expenditure.
Repairs and renewals
Major building Improvemenis are capitslised. the costs of mainiaining the buildings are written off as
incurred. The toial expenditure on works io exisling prop¢rti¢s during the reporting period amounied
¢0 £263.05912023.. £82.155). all of which has IKen charged io ihe SOFA.
T4xatloTr
The ¢ntity is a registered charity and as such lis income falling within Seciion 5?4 of ITA 2007 arc
exempi from Corporation Tax to the extent thai they are appliLd to its charitabl¢ purpose.
Fund a¢¢t)unt$
UnrLStriLtcd funds can b¢ used in accordance with th¢ charitable objectiTr'es ai ihe dis¢r¢tion of the
trustees. There are no funds wilh additional re51riciions.
Tgn8ible fixed Issets
The Chari¢y's buildings are classified as properry. plani and equipmeni as ihey are used in achieving
the Charity's objeclii'es rather ihan held for investment PUTpose5.
Th¢ CollegL buildings are maintsin¢d to a high stale of repair so it is considLred that thc residual valu¢
Temains above cosi. accordingly no depreciaiion is charged. A historic valuaiion is used in place of
initial ¢osi. The freehold land is hcld at a historic valuation in place of cost and is noi depreciated.
The Trustees have depre¢iai¢d the Stonehouse Ywd buildings over fifty ye4r5 representing their
estimatcd useful life.
Investment*
Investments are lisied equity investmenis inilially measured ai fair value ￿1th any subs¢quent fair
value gains or losses rccognis¢d tn the SOFA. Fa￿ value Is d¢ierniined by the quoted market pri¢¢.
Listed investments are categ0ri5ed as fixed assets as the Charity plans to use its bank assets to fund ils
chariiable expenditurc and ￿.111 only consider selling the inv¢sth)ents once these have been d¢pl¢t¢d.
Cash held iti interest bearing bank accounts is categorised as c&sh at bank.
Stock5
Sto¢ks are valued at the lower of cost and net realisable value, after making due allowance for
obsole1¢ and slow moving items.
Flnanclal instruments
Financial assels and fillancial liabili(i¢s are recognised ￿.hen the ChariN becomes a party to the
cOntrac￿al provisions of thc instrum¢ni. Financial liabiliii¢5 aDd equity ins(ruments arc classified
according io the substance of ihe contra¢tual arrdngements entcred into.
Pa8e 12

The Nem. College of Cobha
Notes to the Financial Siatements- continued
For the Year EDded 31st illartb 2024
ACCOU'liTIYG POLICIES 40ntinued
Finaneial Instruments Icontlnuedl
All linancial assets and ligbiliti¢s are intiially measured at transaction pri¢e (including transaction
¢osts}. except for those financial J%sets classified at fair ialue through profit or loss. w.hich ar¢
initially mea5ur¢d ai fair i'aluL I￿.h1¢h is nornially the trnnsaction price ¢x¢luding Iransaction costs).
unless the arran8¢m¢nt consiitules a financing rransaclion. If an arrangetnenl consiitutes a financin8
transaction, the financial asset or finanLial liabiliry is measured ai ihe present value of the future
payments discoun¢ed ai a markei rdte of inieresi for a similar debi insirumenl.
Financial assets and liabilities are only offset In ihe balance shcet ￿.hen. and only when there exist5 a
legally enforceable right to set off Ihe recognis¢d amounts and th¢ Chan'iy iniends either to sertle on a
nei basis, or io realise thc assei and s¢llle ihe liabilily simulianeously.
Debt instTumentg ihai comply with all of ihe condition of paragraph 11.9 of FRS 102 are classified as
'basic'. For debt instrnments thai do noi meel the condilions of FRS 102.11.9. the Charity considers
whether the debt insirument is consist¢ni with ihe principle in pardgraph I1.9A of FRS 102 in order io
d¢terniinL whether it ¢an be classifi¢d as basic. InstNmcni% ¢lassified 'basi¢' financial instrumLnts
ar¢ measurcd subs¢qu¢ntly at amortised ¢osi using thc effective inEercsi meihod.
Debt instruments ihat have no stated inlere%i rote land do not constiwi¢ financin8 transa¢iionl and are
classified as payable or r¢c¢ivable N'iihin one year are initially measured at an undiscounted amounl
of the c45h or oiher consideraiion expecled io be paid or received. nei of impaimieni. Wilh the
excepiion of some hedging insirumenls. other debt instTumenis noi meetin8 conditiuns of being
'basic' financial instrumenis are measured at fair value ihrough profit or loss.
Financial &%sets are derecognised wh¢n and Only when al Ihe contractual rights to the cash flows fvom
the financial ass¢1 expire or ure settl¢d, bl rhe Charity transfers lo another pany substantially all of the
ri5k5 and r¢￿'ardS of ownL Tship of the financial ass¢t. or ¢1 Ihe Chthrily, despite having rctained some,
bui not all. signiflcani risks and rewards of ownership. ha5 transferred conlrol of ihe asset io another
party. Financial li8biliiies are dercco8nis¢d only whcn ihe obligalion spe¢ifi¢d in the contract is
discharged. cancelled or expires.
Critlcal Accountlng Judgements and ke>. source5 of eslim#tlon uncertainly
In the application of Ihc Chariiy s accountiiig policies. the Trustc¢s are required to make judgement5.
estimates and assumptions about the carylng amounts of assets and liabilities that are nol readily
appaT¢nt from oiher sources. The esiimate5 and ￿sOCIal¢d assumptions are based on historical
experience and other facfors thai are conSid¢￿d to be relevant. Actual results Tnuy differ from these
estimat¢s. The esiimales and underlying assumptions are re%'iewed on an ongoing basis. Revisions to
accounting estimates are recognised in ihe period in H.hich the e%thmaie is revised if the re￿IS1On
affects only thai period. or in the peTiod of the rci'ision and future penods if the revision aff¢¢ts both
current and funjre periods.
Thc Trustees have concluded that the crittcal judgement in preparing the financial statements is the
valuation. useful life. and d¢pr¢¢iation policy of th¢ Chariry s buildings. The Trustees hav¢ concluded
that th¢ College building5 are mainiained io a high siaie of repair and it is considered thai the residual
valuc rcmains aboN'e cost, accordingly no depT¢ciation is charged. The Trustees haN'c Concluded that
the Stonehouse Yard buildings should be depreciated over fify ycat5 representing thcir estimated
Useful life.
Pa8¢ 13

The le￿. College of Cobham
Note5 to the Financial StaieTnents - conrinued
For the Y¢gr Ended 31st Marcb 2024
IYCONIE FRONI CHARITABLE Acfii"ITIES
2024
2023
Accommodation chaTges and guest flat reni
Fartnland rental
229.065
2.790
218.371
2,790
231,855
291,161
INVESTNIEI%T INCONIE
2024
2023
Interest receivable
3.208
1,420
CHARIT ABLE ACTII'ITIES EXPE%DITL¥RE
2024
2023
Warden expenses
Inburance
Auditors, remuneration
Electricity
Fuel oil
Waier and sewage
Telephone
7.)41
6.272
3.560
43,956
14,184
S.XY6
1.359
7.046
5,374
3,410
32,436
20.365
7.052
1,023
k 11
Cleaning
SubsCriPtion5 8nd donations
Wages
Administration costs
Repair8 and maintenance
Gard¢ning and paih maintenance
Catering
DepT¢¢iation
Bank charges
Interest payable
1.230
961S
18,627
72
263.059
14,330
2.440
17.772
388
113
1,560
1,125
14,980
356
82.155
8.?63
1.415
17.772
322
59
401,467
204.713
Repairs and mainienance ¢0s1S include5 £217.836 spent on repairin8 the roof of the college building
in accordance with the quinquennial repoTt.
ENIPLOYEES
The ai'erage number of employees during the period was 112023 -11. the Clerk to the Coll¢g¢ is the
only paid ¢mploJee.
Page 14

The Nem. College of Cobham
Notes to the Financi31 Statements- Continued
For the Year Ended 31st Mar¢b 2024
GAINS ON I%I'EST%IENT ASSETS
2024
2023
GaiThllloss) on Charities Official Ini'¢siment Fund
13,909
1,804)
NET DEFICIT
The nel movement in resources is 8tsied after charging..
2024
2023
Auditor4, remuneration for auditing ihe aecounts
Audiiors. remun¢ra(ion for a¢¢ouniancy setN'ices
Staff costs
D¢preciaiion
2.?50
1.310
18.627
17.772
2.150
1,260
14,980
17.772
TRLSTEES. RENILThERATION AND BEYEFITS
The Trubtees received no remuneration or r¢imbursemeni of expenses for their 5ervi¢es durin¥ the
year12023 - norte}.
£70 w&s payable to the Tr￿slee5 ai lh¢ reporting dale {2023.. Nil).
10. TAYCIBLE FIXED ASSETS
Sionehouse
Yard
buildings
College
buildings
Fr¢¢hold
lamiland
Totals
COST
At 151 April 2023 and at
31$1 March 2024
332.121
888.623
37,200
1.257.944
DEPRECIATIONI
At I st April 20?3
Charge for year
280.303
17.772
280,303
17.772
At 3 1st March 2024
298.075
298,075
I%ET BOOK I'ALUE
At J 1st March 2024
332.121
590.548
37,200
959.869
At 3 1st March 2023
332.121
608.320
37.200
977,641
Page 15

The ye￿. College of Cobham
otes to the Financial Statements - CODtinued
For ihe l'ear End¢d 3151 Mar¢h 2024
TAI%GIBLE FIXED ASSETS- contlnued
Grants
The Losts of the properties in¢lLMled above are suied after grants received which are analysed a5
follows=
Sionehouse
Yard
buildings
College
buildings
Freehold
farniland
Toials
Gross cost
Grdnis received
731.J98
399.277)
1.840.196
951.5731
37.200
?,608,794
1.350.850)
¢1 cost
332.121
888.623
37.200
1.257.944
V4luAtion
The College buildings w'ere valued nominally at £50,0(Kl on 31 O¢tober 1979, subsequent
improvemLnls have been included ai cost.
The Freehold farmland was valued ai £37.200 on 31 March 1983.
11. FIXED ASSET INVESTNIENTS
Lisied
Investrneni
MARKET N'ALUE
Ai I 51 April 2023
R¢valuaiion
114,586
13.909
A13 1st March 2024
128,495
The original cost of the fixed assei investments is £IO.172 (2023 £10,172).
12. STOCK
2024
2023
Leaflets
4.594
4,594
P8ge 16

The Yem. COll￿e of Cobh*
l%otes to the Financial Statement5- COntiThued
For the Year Ended 31st Nlar¢b 2024
13. DEBTORS: A,%IOU)'TS FALLING DLE WITHIN ONE YEAR
2024
2023
Trade debtors
Other debiors
1,076
2,790
4,898
1.076
7.688
No provision has been recognised in resprfi of the rent arrears12023'. Nil) as they are considered fully
r¢covernble.
14. CREDITORS: A￿loL￿Ts FALLING DLE IN'ITHIN ONE YEAR
2024
2023
Trade ¢rediloTS
Social 4ecurily and other taxes
OihLr crediturs and accruals
3.237
651
2,646
26.643
26.344
IS. CAPITAL CO%IMI ITNIENTS
Ai 31 March 2024 ih¢re were no outstanding contrnctual commitments for capital expendiiure.
16. PRON'ISION AI'AILABLE FOR S￿1ALLER ENTITIES
Th¢ Charity uses its auditors 10 assist with the prepardlion of lh¢ Financial St&tcments.
17. RELATED PARTY DISCLOSURE
There have been no relaled parry tran$8¢iions.
Page 17