**REGISTERED CHARITY NUMBER: 207264**
## **REPORT OF THE TRUSTEES AND**
**UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024**
## **FOR**
## **DUNTON'S ALMSHOUSES**
Walter Wright Chartered Accountants 89 High Street Hadleigh Ipswich Suffolk IP7 5EA
**DUNTON'S ALMSHOUSES**
**CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024**
|||**Page**||
|---|---|---|---|
|**Report of the Trustees**|1|to|3|
|**Independent Examiner's Report**||4||
|**Statement of Financial Activities**||5||
|**Balance Sheet**||6||
|**Notes to the Financial Statements**|7|to|10|
|**Detailed Statement of Financial Activities**||11||
**DUNTON'S ALMSHOUSES REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2024**
The trustees present their report with the financial statements of the charity for the year ended 31 December 2024. The trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019).
## **OBJECTIVES AND ACTIVITIES**
## **Objectives and aims**
The general objective of the charity is the provision of housing for 'eligible residents' . An 'eligible resident' is defined in the Trust Deed as someone who is aged 60 or more, who has lived in the parish of Dedham for at least 5 years before applying to become a resident and who is, in the opinion of the trustees, most deserving to occupy one of the almshouses.
The trustees can allow applications from those over 60 elsewhere if they are unable to find an eligible person who has lived in the parish of Dedham for at least 5 years.
If they are still unable to find 'eligible residents' they can allow applications on a wider basis.
The charity continued to pursue this objective during the year under review. During the year the charity has continued to provide the residents with housing for a rate below the market average.
In addition, during the year the charity continued to review its reserves to try to improve the financial return it was making.
## **Public benefit**
Dunton's Almshouses reviews its aims, objectives and achievements each year. In undertaking this review the trustees pay due regard to guidance issued by the Charity Commission in determining how Dunton's Almshouses should carry out its activities for the public benefit.
## **FINANCIAL REVIEW**
## **Financial position**
The level of cash reserves at the year end has increased slightly to £129,286, equivalent to more than 2 years of normal operating costs.
## **Reserves policy**
'The Trustees have followed the Almshouse Association guidelines in setting their policy on financial reserves. In keeping with these guidelines and having regard to their overriding fiduciary duties to maintain the permanent capital of the Charity, while seeking risk adjusted returns from a combination of asset types, the Trustees have notionally allocated their investment assets to three separate reserve funds as follows:
1. Cyclical Maintenance Fund: for known regular building repairs and maintenance, represented by the cash deposit account held with Barclays Bank, into which Weekly Maintenance Contributions from residents are made.
2. Extraordinary Repair Fund: for unanticipated but significant repairs, principally to the roof of the almshouses, represented by investments held with CCLA and M&G.
3. General Reserves, represented by the accounts held with the Saffron and Suffolk Building Societies, are held for general purposes.
During the year to 31st December 2024, the Trustees discussed various potential improvements to the almshouses which would be funded from General Reserves.
The trustees deem the current position of the charity to be healthy.
Page 1
**DUNTON'S ALMSHOUSES**
## **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2024**
## **STRUCTURE, GOVERNANCE AND MANAGEMENT**
## **Governing document**
The charity is constituted under a declaration of trust dated 15 April 1859 and is a registered charity. The declaration of trust has since been amended, with the latest amendment being made on 20 November 2007.
## **REFERENCE AND ADMINISTRATIVE DETAILS Registered Charity number**
207264
## **Principal address**
Fairview The Heath Dedham Colchester Essex CO7 6BU
## **Trustees**
Mrs Léonie McLaughlin (Chairman to 12 January 2025 - resigned as trustee 12 January 2025)
Mr C Sims - appointed 22 March 2024 (Acting Chairman from 12 January 2025, appointed chair March 2025) Mrs M J Jewell
Mr I Lovelock Mrs S Geary - resigned 12 January 2025 Mrs Carolyn Clayton Mrs L Goodall - appointed 22 March 2024 - resigned 12 January 2025 Mr C Biggins Mrs H Roberts - appointed 29 April 2025 Mr P Maston - appointed 29 April 2025
New trustees are appointed by the existing trustees and the trustees keep the skill requirement of the trustees under review.
## **Independent Examiner**
Mr M Wallace TEP CTA FCA Walter Wright Chartered Accountants 89 High Street Hadleigh Ipswich Suffolk IP7 5EA
Page 2
**DUNTON'S ALMSHOUSES**
## **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2024**
## **REFERENCE AND ADMINISTRATIVE DETAILS**
## **Bankers**
Barclays Bank plc PO Box 1 9 High Street Colchester CO1 1DD
Suffolk Building Society PO Box 547 Ipswich IP3 9WZ
Saffron Building Society Saffron House 1a Market Street Saffron Walden CB10 1HX
## **REVEREND C A JONES ACCOUNTS**
The Reverend C A Jones account was an endowment to the Almshouses, the income from which was originally intended to provide heating to the residents. The income from this endowment comes from the investment each year and as long as there is sufficient income, is donated to the residents currently as a Christmas gift. A summary of the transactions for the year is shown in the attached notes.
## **CLERK**
During the year, Mrs Amanda Watkins, served as the Charity's Clerk. The trustees are grateful for her commitment and time given to the Charity.
Approved by order of the board of trustees on 11 August 2025 and signed on its behalf by:
Trustee
Page 3
**INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF DUNTON'S ALMSHOUSES**
## **Independent examiner's report to the trustees of Dunton's Almshouses**
I report to the charity trustees on my examination of the accounts of Dunton's Almshouses (the Trust) for the year ended 31 December 2024.
## **Responsibilities and basis of report**
As the charity trustees of the Trust you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('the Act').
I report in respect of my examination of the Trust's accounts carried out under Section 145 of the Act and in carrying out my examination I have followed all applicable Directions given by the Charity Commission under Section 145(5)(b) of the Act.
## **Independent examiner's statement**
I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
1. accounting records were not kept in respect of the Trust as required 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 requirements 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 fair view which is not a matter considered as part of an independent examination.
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
Mr M Wallace TEP CTA FCA
Walter Wright Chartered Accountants 89 High Street Hadleigh Ipswich Suffolk IP7 5EA
11 August 2025
Page 4
**DUNTON'S ALMSHOUSES**
## **STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2024**
|Unrestricted
fund
Notes
£
**INCOME AND ENDOWMENTS FROM**
**Charitable activities**
Residents' contributions
38,159
Investment income
2
8,621
**Total**
46,780
**EXPENDITURE ON**
**Charitable activities**
Almhouse expenses
32,725
Net gains on investments
12,955
**NET INCOME/(EXPENDITURE)**
27,010
**RECONCILIATION OF FUNDS**
Total funds brought forward
397,434
**TOTAL FUNDS CARRIED FORWARD**
424,444|Restricted
fund
£
-
91
91
240
77
(72)
3,939
3,867|2024
Total
funds
£
38,159
8,712
46,871
32,965
13,032
26,938
401,373
428,311|2023
Total
funds
£
35,081
5,047|
|---|---|---|---|
||||40,128|
||||32,179|
||||16,531|
||||24,480
376,893|
||||401,373|
The notes form part of these financial statements
Page 5
**DUNTON'S ALMSHOUSES**
## **BALANCE SHEET**
## **31 DECEMBER 2024**
|Unrestricted
fund
Notes
£
**CURRENT ASSETS**
Debtors
4
702
Investments
5
295,344
Cash at bank and in hand
129,286
425,332
**CREDITORS**
Amounts falling due within one year
6
(888)
**NET CURRENT ASSETS**
424,444
**TOTAL ASSETS LESS CURRENT**
**LIABILITIES**
424,444
**NET ASSETS**
424,444
**FUNDS**
7
Unrestricted funds
Restricted funds
**TOTAL FUNDS**|Restricted
fund
£
-
3,290
750
4,040
(173)
3,867
3,867
3,867|2024
Total
funds
£
702
298,634
130,036
429,372
(1,061)
428,311
428,311
428,311
424,444
3,867
428,311|2023
Total
funds
£
3,500
281,572
117,389
402,461
(1,088)
401,373
401,373
401,373
397,434
3,939
401,373|
|---|---|---|---|
The financial statements were approved by the Board of Trustees and authorised for issue on 11 August 2025 and were signed on its behalf by:
Trustee
The notes form part of these financial statements
Page 6
**DUNTON'S ALMSHOUSES NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024**
## **1. ACCOUNTING POLICIES**
## **Basis of preparing the financial statements**
The financial statements of the charity, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Charities Act 2011. The financial statements have been prepared under the historical cost convention.
## **Income**
Residents' contributions, dividends and interest are credited in the period in which they are received.
## **Taxation**
The charity is exempt from tax on its charitable activities.
## **Investments**
Investments are included at their fair value.
## **Property**
The property comprises:
(a) Nine almshouses situated in Crown Street, Dedham founded in 1571 and rebuilt in 1806. (b) Farm land at Clacton
All of the properties have been held by the charity for many years and the original cost is unknown. No value has been attached to them in the Balance Sheet, but they are insured for £1,918,959.
## **2. INVESTMENT INCOME**
|Farmland rent
Deposit account interest
Dividends|2024
£
1,750
6,643
319
8,712|2023
£
1,750
2,895
402|
|---|---|---|
|||5,047|
## **3. TRUSTEES' REMUNERATION AND BENEFITS**
Mr C Biggins, a trustee, was paid £NIL (2023 £1,400) for his services as clerk.
During 2024, the current clerk, who is not a trustee, was reimbursed expenses of £47.48.
One of the trustee was reimbursed the sum of £105 expenses for attending a CPD Course.
## **Trustees' expenses**
There were no trustees' expenses paid for the year ended 31 December 2024 nor for the year ended 31 December 2023.
Page 7
continued...
**DUNTON'S ALMSHOUSES**
## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2024**
|**4.**
**DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**
Trade debtors
Other debtors
Amount due to be transferred from restricted funds
**5.**
**CURRENT ASSET INVESTMENTS**
Unlisted investments
Other
Market value
**General Fund**
2024
**COIF Charities Investment Fund**
**£**
Capital account
96,885
**Saffron Building Society 1 Year Savings Bond**
84,162
**M & G Investments**
Common investment funds:
Duntons Almshouses
109,076
Sophia Hewitts Bequest
5,221
**TOTAL**
£295,344
**Reverend CA Jones Charity**
COIF Charities Investment Fund
£3,290
**6.**
**CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**
Other creditors
**7.**
**MOVEMENT IN FUNDS**
At 1.1.24
£
**Unrestricted funds**
General fund
397,434
**Restricted funds**
Reverend CA Jones Charity
3,939
**TOTAL FUNDS**
401,373|**4.**
**DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**
Trade debtors
Other debtors
Amount due to be transferred from restricted funds
**5.**
**CURRENT ASSET INVESTMENTS**
Unlisted investments
Other
Market value
**General Fund**
2024
**COIF Charities Investment Fund**
**£**
Capital account
96,885
**Saffron Building Society 1 Year Savings Bond**
84,162
**M & G Investments**
Common investment funds:
Duntons Almshouses
109,076
Sophia Hewitts Bequest
5,221
**TOTAL**
£295,344
**Reverend CA Jones Charity**
COIF Charities Investment Fund
£3,290
**6.**
**CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**
Other creditors
**7.**
**MOVEMENT IN FUNDS**
At 1.1.24
£
**Unrestricted funds**
General fund
397,434
**Restricted funds**
Reverend CA Jones Charity
3,939
**TOTAL FUNDS**
401,373||2024
£
529
-
173
702
2024
£
214,471
84,163
298,634|2024
£
529
-
173
702
2024
£
214,471
84,163
298,634|2023
£
1,005
2,295
200
3,500
2023
£
201,572
80,000
281,572|2023
£
1,005
2,295
200
3,500
2023
£
201,572
80,000
281,572|2023
£
1,005
2,295
200
3,500
2023
£
201,572
80,000
281,572|
|---|---|---|---|---|---|---|---|
||Market value||Market
value||Cost|||
||2024||2023|||||
||**£**||**£**||**£**|||
||96,885||92,130||36,790|||
|||||||||
||84,162||80,000||80,000|||
|||||||||
|||||||||
|||||||||
||109,076||100,978||53,727|||
||5,221||5,051||1,566|||
|||||||||
|||||||||
||£295,344||278,159||£172,083|||
|||||||||
|||||||||
||£3,290|||£3,413|||£162|
|||||2024
£
1,061
Net
movement
in funds
£
27,010
(72)
26,938||2023
£
1,088
At
31.12.24
£
424,444
3,867
428,311||
Page 8
continued...
**DUNTON'S ALMSHOUSES NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2024**
## **7. MOVEMENT IN FUNDS - continued**
Net movement in funds, included in the above are as follows:
|Incoming
Resources
resources
expended
£
£
**Unrestricted funds**
General fund
46,780
(32,725)
**Restricted funds**
Reverend CA Jones Charity
91
(240)
**TOTAL FUNDS**
46,871
(32,965)
**Comparatives for movement in funds**
At 1.1.23
£
**Unrestricted funds**
General fund
373,135
**Restricted funds**
Reverend CA Jones Charity
3,758
**TOTAL FUNDS**
376,893
Comparative net movement in funds, included in the above are as follows:
Incoming
Resources
resources
expended
£
£
**Unrestricted funds**
General fund
40,034
(31,979)
**Restricted funds**
Reverend CA Jones Charity
94
(200)
**TOTAL FUNDS**
40,128
(32,179)|Gains and
Movement
losses
in funds
£
£
12,955
27,010
77
(72)
13,032
26,938
Net
movement
At
in funds
31.12.23
£
£
24,299
397,434
181
3,939
24,480
401,373
Gains and
Movement
losses
in funds
£
£
16,244
24,299
287
181
16,531
24,480|
|---|---|
Page 9
continued...
**DUNTON'S ALMSHOUSES NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2024**
## **8. RELATED PARTY DISCLOSURES**
There were no related party transactions for the year ended 31 December 2024.
Page 10
**DUNTON'S ALMSHOUSES**
## **DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2024**
|**INCOME AND ENDOWMENTS**
**Investment income**
Farmland rent
Deposit account interest
Dividends
**Charitable activities**
Residents' contributions
**Total incoming resources**
**EXPENDITURE**
**Charitable activities**
General repairs
Rates and water
Insurance
Light and heat
Christmas gifts to residents
Sundries
**Support costs**
**Governance costs**
Clerk's honorarium
Accountancy and other professional fees
Total resources expended
**Net income before gains and losses**
**Realised recognised gains and losses**
Realised gains/(losses) on fixed asset
investments
**Net income**|2024
£
1,750
6,643
319
8,712
38,159
46,871
26,853
1,443
1,500
1,232
240
77
31,345
-
1,620
1,620
32,965
13,906
13,032
26,938|2023
£
1,750
2,895
402|
|---|---|---|
|||5,047
35,081|
|||40,128
23,713
1,637
1,469
584
200
322|
|||27,925
1,500
2,754|
|||4,254|
|||32,179|
|||7,949
16,531|
|||24,480|
This page does not form part of the statutory financial statements
Page 11