REGISTERED CHARITY NUlBER. 207304 REPORT OF THE TRLTSTEES AND L'N.4[IDITED FINLNCIAL STATENIENTS FOR THE YE.4R EliDED 31 lARCH 202S FOR LII.4RY HOIIGHALII ALhlSHOUSES TRUST ftr.IcC.abe Ford 11-illianis Chartered Accouiiiants Charlton House Dour Streei DOI'LR kent CT16 IBL
IARY HoL,GH1 ALlsHOU5Es TRUST COI%TENTS OF THE FIN.4NCIAL ST.4TEME]YTS FOR THE I'E,IR EINDED 31 lARCH 202) Page Reference and Administrative Details Report of the Trustees Independent Examiner's Report Statement of Financial Activities Balance Sheet Notes to the Financial Sialements 7 10 12 Detailed Statement ofFinancial Aclii'ilies 13
MARY HOUGHMI ALNISHOUSES TRIIST REFERENCE AND AD)IINISTRATII'E DETAILS FOR THE YEAR ENDED 31 .NIARCH 2025 TRUSTEES Ms D GrossllL B Gardner (resigned 5.6_24} P Dodkins A Friend PDJull Mrs J Arfman G Coiian (resioned 6.6.25} Dr L Leith (appointed 14.8.24) Ms S Beer (appointed I1.6.25) PRINCIPAL ADDRESS 70 St Leonards Road DEAL Kent CT14 9AY RF,GISTERED CHARITI, NLI,IIBER 207304 IINDEPENDETrTh ExAlINER Iccabe Ford Williams Chartered Accountants Chdrlton House Dour Sireet DOVER Keiil C.T16 IBL CLERIK AND TRE.4SIIRER Mrs B Ransom IN1'ESTlENT IIOLDER CCLA 85 Queen Ilictoria Street London EC4V 4ET Page I
IARY HOUGHA]¥I ALNISHOUSES TRUST REPORT OF TIIE TRLSTEES FOR THE I'EAR ENDED 31 ML ARCH 2025 The Iruslecs prescnl their report with the financial statcments of the charit), for the Trear ended 31 March 2025. The trustees have adopted the proi"isions of Accounting and Reporting by Charities= Statement of Recommended Practice applicable to chaTiiies preparing their accounts in accordance iiiih the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 102} (effective l January 2019). The Mar), HouJam Almshou%s Charity, was set up by a conve}ance dated 25 Nqar¢h 1890 and schemes which regulate the operations of the Charity dated 23 Febnsary 1981 and 7 April 1986 as amended on 14 February 2018 and 21 October 2020. The Charity became a registered Housing Association on 16 June 1986 and M-as deregistered on 19 September 2001. OBJECTIN'ES AII D ACtIVlTIES Objectii'es and all5 a) Thc objcctive of the charity is to procure. maintain and let l2 Almshouses in Deal. The residents shall be aged infirm Deal Boatmen and subject thereto poor, aged and infirm persons ii.ho are inhabitants of the former Borough of Deal as constituted on ihe 31 N.larch 1974. b) Il'hilsl there are oni}. 12 unils, and N'acancies generally occur rarely. applications for occupancy are invited annually through public notice in the local press and on notice boards of ihe Deal Toiin and Illalmer Parish c.ouncils and references from the Doi'er Dislrici Council. ResideTJts are then selected halg regard to the aims of the Charity, ils approved criteria and following inierview. ) After complying iyith the financial requiremenis, deiailed in ihe Scheme of Administration: the income of the Charity shall be applied for ihe ben¢fil of the occupanls or an). of them in such a manner as the Trustees think. fil from time to time. d) The occupanls were granled a sum in respeci of each Property cquii'alent to the Ilyater Charges pa)'able for the )'ear. Administration Trustees mel a total of four tirnes during the year. an addiiional meeting ivas held io discuss the back ivindoii.. replacements. An agreement il.as reached iiith the joineti. business ihat the charity ii-ould pay the deposit once all 'indoii's had bccn manufactured and inspeLled b!. Tersons: the Managing Agenl to protect ihe charities funds. The deposii 01'£60.000 il'as paid in N'oi'cmber 2024. Tersons {Managing Aoenl) maintained a personal link- Ivith residents and continued to respond spccdil), to needs associRted 'ith housing, repairs and initial health issues. Public Benefit Vheii revieii'ing thL Charit) 5 aims and objcctives, measurino perforn)ance and planning future actiN'ities, truslees have had regard to Ihe Charil). Commission's guidance on public benefit. Rei'aluation Investments are rei'1¢ liied ai ecich year eiid and the increase:'decrease in N'alue is char£ed to tlie appli¢able funds ai ihc s'ear end. Thc chan<7c is not directly distributable to the Tesidents. Dei'elopnients, Actii'ities and Achiei'emenl The tolloii'ino inspections and associated is'ork5 11-ere undertaken during ihe )'car.-- -.4nnLtal Cyas Inspection C.ertificaies -FirL Risk AssLssment -one neil. shoiier room installed and onc kitchen refurbi5hmLnt carried out. The charit! s income ivas maintenance conTributions ii'hich ivere collected al the expected leN"el.
IARY HOUGHAI¥I ALhlSHOUSES TRUST REPORT OF THE TRI"'STEES FOR THE I'EAR ENDED 31 NIARC"H 2025 FINANCIAL REI'IEW Resen'es Policy The Reserves Policy is ¢Ewge io the Siatement of Financial Activiiies in each year the amounts detern]ined by the Almshouses Association for Cyclical fllaintenance and Emra Ordinar). Repairs. There ii'ere insufficient funds to carry tbis out and an additional £52,955 was lyithdra1 to aid iiith the funding required for bank windoiv replacements The reserves polic), of the Trustees is to aim for a siluation where ihe charity has free reserves that will allow it to meet its costs for 6 months, and also to save up ndS for the pury)oses of expanding the charit), properties. At the year end the haritable twsl had reserves of £2,850,434 {2024 £2,914,298) of 'hICh £225.894 (2024 - £271,523) Mas designated and £2,600,000 (2024 - £2.600,000) ere endoMTnenl amounis: leaving £24,540 (2024 - £42,775) of free resen'es. STRLCTI", RE, GOI'ERi%AYCE .4ND IIANAGENIEN'T Trustees Responsibility for the Ilccounts The charit), is controlled bv lis governing documenL a deed of trust and ¢onstilutes an unincorporated charity. Recruitment 2nd gppointment of new trustees The Trus(ee Bod), should comprise of up to cight members Thho are appoinied on the folloiling ba515=_ One Ex-oificio Trustee bein the Chairman of Ihe Dover District Council for the time being. Tlie appointment is made annuall}, each May. One NominatiN'e Trustee appointed b). tk)i'er Di5trici Council for a terni of office of 4 sear5. Six C.0 Opted Trustee5 appointed b), the iyhole Trustee bod).. Such Trustees must be a resident of the fomer Borough of Deal and a member of the Church of England. The appointment time being for five years. Approved b). order ofthe board oftruslees on .i..l...O.L¢.....lo.25.... and signed on its behalf by: MsvDth@ss Trustee trJ J. Ac Pa¥e 3
INDEPENDENT EXAI¥IINER'S REPORT TO THE TRIISTEES OF IARY HOLICHATrI ALI¥ISHOUSES TRUST Independent examiner's rert to the trustees of Illary Hougham Almshouses Trust I report to the charity trustees on m). examination of the accounis of Mary Hougham Almshouses Trust (the Trust) frir the year ended 31 LKlarcb 2025. Responsibilities 2nd basis of report As the ¢harity trustees of the Trust you are responsible for the preparation of the accounts in accordance with the requirements of ihe Charities Act 2011 ('the Act.). I report An respect of my exatllination 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 b> the Charity Cottllnission under Section 145(5)(b) of the Aci. Independent exgminer's statement I have compleled my exatnination. I confwrn that no material matters have come to mv attention in connection with the examination giving me cause to believe that in any malerial respect= accountine reeords were not kept in respect of the Trusi as required by Section 130 of the Act= or the accounts do not accord ii'ith those records. or the accounts do not compl). ii-iih the applicable requirements concerning the form and content of accounts sei out in the C.harilics (Accounts and Reports) Regulations 2008 otheF than any requirement thal the accounts give a true and fair vieii.. which is not a mailer Lonsidercd as part of an independent examination. I have no concerns and have come across no oiher mallers in eonneclion il'iih the examination to ,hICh attention should be dram'n in this report in order to enable a proper understanding of ihe accounts io be reached. Mr J Sheaiher Bsc FCA Mccabe Ford TIlliamS Chartered Accountants C.harlton Flouse Doiir Strcit DOVER Kent CT16 IBL Date.. Page 4
1ARY HOuGHAl ALNISHOL,SES TRUST STATENIENT OF F1)A)CIAL,Il1,ITlES FOR THE I'EAR EfDED 31 MARCH 202) 2025 Total funds 2024 Total funds Unreslricted nds Restricted fuThd5 EndoMTnent fund Notes IIYCO.NIE AND ENDOWIIENTS FRO)1 Residents mainienan¢e ¢ontributions Investment income 73.620 8.102 73.620 8,102 69.834 i,858 Total 81.722 81.722 75,692 EXPENDITURE OY Charitable gctiN'ities Operating costs 152,912 152,912 87.050 Nel gains on investments 7,327 7,327 10,636 NF.T INCOIIIEI(EXPENDITURE) (63.863) (63.863) (722) RECOIYCILI.4TION OF FIINDS Total funds broughi foThi'ard 314.297 2,600,000 2,914.297 2,915,020 TOTAI, FIINDS CARRIED FORII'ARD 2$0,434 2.600,000 2.8iO.434 2,914.298 The notes form part of ihese fm(Incial slaiemenls Page S
1¥1.4RY HOuGHAl ALIISHOUSES TRUST BALANCE SHEET 31 lARCH 2025 2025 2024 Notes FIXED ASSETS Tangible assets Investments 2,600,000 25,023 2.600,000 24,390 2,625,023 2,624,390 CURRENT ASSETS Debtors Investments Cash at bank 855 200,345 55,799 892 246,607 44,259 io 256,999 291,758 CRF.DITORS Amounts falling due within one year (31,588) (1.850) NET CURRENT.4SSETS 225,411 289,908 TOTAL A55ETS LESS CLRREINT LIABILITIES 2.850,434 2,914.298 ET ASSETS 2.850.414 2,914,298 F[,"'Ds Unreslri¢ted funds.. General fund Capital Fund C}'clical rnlaintenance Fund Extra Ordin&ry Repair Fund Expansion Fund 13 24.540 2).549 42,775 24,916 25.664 25.664 195,279 200.J45 250,434 314.298 EndowmLnl funds 2.600.000 2.600.000 TOTAL FUNDS 2,850.4.34 2,t)14,298 The financial slaiements ii'ere approi'ed by ihe Board of Truslees and authorised for i.f Qo¥.....z.o..¥.J..... and iiere sioned on its behalf bv: issue on stcc IIv7 T. 64 The notes fomi pan of these financial statements Page 6
I¥IARY HOUCHANI ALIIISHOUSES TRUST
NOTES TO THE FI%,INCI.4L STATEIIENTS
FOR THE I"E.4R EIIDED 31 ,N1ARCII 2025
STATUTORY INFORNIATIO)
Mary Hougham Almshouses Tt is an unincorporated chartty.
The presentation ¢urren¢y of the financial 51alements is the Pound Sterling {£}.
ACCOUNTING POLICIES
Basis of preparing the fJnanci81 statements
The financial statemenls of the charity,: Ivhich is a public benefjt enlit), under FRS 102. have been prepared in
accordance iviih the Charities SORP (FRS 102) 'Accounting and Reporting bj. Charities.. Stalement of
Recommended Practice applicable to charlties preparing their accounts in accordance '1th the Financial
Reporting Standard applicable in ihe UK and Republic of Ireland IFRS 102) {effective l January 2019),,
Financial Reporting Siandard 102 'The Financial Reporting Standard applicable in rhe L'K and Republic of
Ireland, and the Charities Act 2011. The financial statemenis have been prepared under the historical cost
convention, Th'ith the exception of investments Mthich are included at market value, as modified by the revaluation
of certain assets.
The trustees consider thal there are no material uncertainties aknut thc Charit5J's ability- to continue as a going
n¢¢m.
Income
All income is recognised in the Siatemenl of Financial Activitie5 once the charity, has eniiilement to the funds, it
is probable that thL income ilill be receii.-ed and the amount can be measured reliably. Income represents
Jaintenance Contributions receivable.
Expenditure
Liabilities are recoonised as expenditure as soon as there is a legal 01 constructii'e obljoatioii coii)Inittin¥ the
charity to that expenditure. it is probable ihat a transfer of ecoiiomic benefils ivill be required in settlenieiit and
Ihe amount of ihe obligation can be measured reliabl!,. EipeThdilure 15 accounted for on an accruals basis and has
been classified uiider headings ihal alYeale all c05t rclated to the category.. Il'here costs cat]not be directl),
attributed to particular headings ihe). hae been allocaied to aetii'itics on a basis consistent ii'ith the use of
resources.
Tangible filed assets
lary, Hou(Jham Alm_qhousef ii'ere ¢onsiructed in the late nineteenth Cenlury,. The original cost included the
improN'emenis carriLd out since 1987 11.hich 1s"Lre funded b!. a Housin? Corporation Granl: a niortgaue loan from
the Dover Dislricl Council secured b)" a charge on housin
land and buildings and from Mary" Flouvham
Almshoiises Chaiitt"'S resources. As the properlies arL mainiained in d stale of rL'pair such that their
estiniated residual 'alue is not less than their iMpro"eMe1]t cosl or canylng amouI)t, no Il<preLidlion is
applied.-I'he properties are included at mark-et i'alue.
Taxation
Tlie cliarit), i5 exempt from taK on its chIlable actii'ities.
Tr"und accounting
lJnreqtricled fiinds can be used in accordance ii.ith the charilable objectives at the discretion of rlie trustees.
UnrLslricled invcsiments haN'c been presented ai rheir fair i'alue, as ai die s'"ear end_
ResiriLted Fiinds C<in only be used for particular resiriilLd purposes ivtihin the objects of the chari15'.
RestriLlions arise ii,hen specified bi- the donor or ivheii funds are raised for part&culat rcslriclL'd purpose5.
Cy¢li¢al Nlaintenance Fund {CfvIF)" This ieser¥'e represents desi£nated amounls set aside for Q-clical
1<11nlen
IARY HOUGHAIII ALlSHOUSEs TRusr LNOTES TO THE FIN'..IJCIAL STATElEsTs- CODtinued FOR THE YE.4R EliDED 31 IIIARCH 202) ACCOUNTIYG POLICIES- eontinued Fund accounting Expansion Fund- This resep+'e represents designated sums set aside io expand the amount of properties held by the chariti,. CRPltal fund. This consists of designatrd reserves. made up of unrestrtcted donations recetved b). the rharity- Endowment fund,. This consists of freehold property of the charity. Investments Investments are slated al their fair i'alue and the increasel decrease in value is charged to the applicable fund5 at the year end. The ehange is not direcily distributable lo the lenants. RESIDENTS I¥IAINTEN.4NCE COI%TRIBUTIOJS 2025 2024 Resident maintenance 73,620 69,834 INVESTIIENT INCOII IE 2025 2024 Investn)ent iIiconie Interest receivable 7.320 782 5,209 649 8,102 5,858 TRIISTEES, REI¥II,'NERATION' AID BENEFITS There iiere no trustees, remuneraiion or other benefits for the vear ended 31 Nlareh 2025 nor for the Jear ended 31 N4<lrch 20?4. Trustees, expenses There Kvere no trustee5' expenses paid for ihe ear ended J l March 20?5 nor for the )'ear ended 31 Nlarch 2024. CONIP,IR.4TIVES FOR THE ST.4TE%IEi%T OF FIN.4NCIAL.4CTII:ITIES UnresEriCted Restricted funds funds EndoThThenl fund Total funds 1CollIE AND ENDO11.lE1Ts FRO.N1 Resideiits maintenai)ce coniribuiions InN'estmenl income 69.834 5,858 69,8.34 5.858 7).69? 75.692 EIPE%'DITI',RE O CharitAble ietii'ities Operatin(F Costs 87.050 87.050 Tet gFains on ini'estments 10.636 10.636 NET INCOI)IEI(EXPEINDI"I'[IRE) (72?) (722) Page 8 conliniiLd...
1¥IARY HOLTGHAIll ALlSHOUSEs TRUST OTES TO THE FINAliCIAL STATEIIEN7S- continued FOR THE I'E.4R Ef4DED 31 .11.4RCH 2025 COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIIFITIES- continued Unrestricted Reslricted EndoiiThent nds funds nd Total funds RECONCJLIATiof OF FUNDS Total funds brought fonvard 315.020 2,600,000 2,915.020 TOTAL FUNDS CARRIED FORM'ARD 314,298 2.600,000 2,914,298 T.4NGIBLE FIXED ASSETS Freehold property COST OR IKALUATIOL At l April 2024 and 31 March 2025 2,600,000 NET BOO1& I'AI,IIE At 31 March 2025 2.600,000 Ai 31 March 2024 2,600,000 Cost or valuation al 31 h.larch 2025 is represented b),= Freehold propert), Valuation in 2022 c.ost 1.9?4.414 675.586 2,600,000 'I"he freehold properties ii'ere valued b) the trustees al mark-el value at 31 Nlarknh 202.5. FIXED ASSET I,%.EsTIErTs Unlisted investmeIits IARKLT I',ILLIE Ai l April 2n24 Revalualiuns 24.390 At 31 M&1rch ?02) 25.023 NEI. BOOK I'.,ILIIE At 3 5 Nqarch 202) 25.023 At 31 Nfjarlh 2024 24,390 There ii'ere no in*eslment a55ets outside the LIK. Page 9 continiied...
M.4RY HOLIGHA.%I AL.%ISHOttSES TRIIST NOTES TO THE FIN,V*CIAL STATENIENTS- eontiDued FOR THE I'EAR ENDED 31 IIARCH 2025 FIXED ASSET INI,ESTlENTS_ continued Cost or valuation at 31 March 2025 15 represented bj.. Unlisted investment5 Valuation in 2020 Valuation in 2021 Valuation in 2022 Valuation in 2023 Valuation in 2024 Valuation in 2025 Cost (1,902) (1,470) ,034 6.33 26,982 25,023 DEBTORS: AIIIOIINTS FALLING DUE M'ITHIli ONE YEAR 2025 2024 Debiors and prepa)'ments 855 892 io. CLKRENT ASSET IINI'ESTII IEIYTS 202) 2024 Purchase Units larket Nlarket Cjclical N,lainlenance Fund Extra Ordinari. Repairs Fund Expansion Fund 2).000 25.000 ?06.98J 20.870 20.870 158.802 25,664 25.664 195.279 200.345 2)6.983 200.i42 ?00,345 246,607 ii. CRLDI'I'OX5: ANiouiYfs FALLI)G DUE II'ITHIN OIIE I-EAR 20?5 2024 Sundr)" creditors 1,8.50 12. AJAI,I'SIS OTr INET ASSETS BETII'EEN FL,NDS 2024 'l-otal funds Unrestricted Restricted fuiids Endoi¥"menl fuiid Total fuiids Fixed assets Ini'¢.£lnientS Current aS5Lts Curreiii liabililics ?.600.000 2.600.000 ?).023 256,999 (31.5881 2,600.000 24.390 291.758 (1,850) 23.023 256.999 (11588) ?50,434 2.600,000 2.8 50.4.14 2.914,298 Paoe 10 coiilinued...
IIIARI, HOuGHAl ALNISHOUSES TRUST NOTES TO THE FINANCIAL STATEMEfiTS- continued FOR THE I'EAR E.NDED 31 NIARCII 202) 13. MOVEIIIENT IN FUNDS Transfers betti'een fi]nds movement in fvnds At 31.3.25 At 1.4.24 Unrestrieted funds General fund Capital Fund Cyclical N.laintenance Fund Extra Ordinary, Repair Fund Expansion Fund 42,774 24.916 25.664 25.664 195.279 (71,190) 633 814 814 5,066 52,956 24,540 25,549 (26,478) (26,478) 200.345 314,297 (63:863} 250,434 EndoTrment funds EndoN¥ineni Fund 2.600.000 2,600,000 TOTAL FIII%DS 2.914.297 (63:S63) 2,850,434 Net movement in funds, included in the al)ove are as folloHs= Incorning resources Resources expended Gains and losses Nlovement in funds Unrestricted funds General fund Capital Fund Cyclical Ilaii)tenance Fund Extra Ordinary, Repair Fund Expansion Fiind 81,722 (152.912) (71,190) 633 814 814 5,066 814 814 5.066 81,722 (152,912) 7,327 (63,863) TOTAL FL'INDS 81.722 (152,912) 7,327 (63,863) C.omparatii'es for 01'eInent in funds Nel moi."ement in fi]nds Transfers betii'een funds At 31.3.24 At 1.4.2J Ilnrestricted funds Gencral fund Capiial Flind C.N'clical Ilaintenance Fuiid Lxtra Ordinan. Repair Fund F,xpansion Fund 18.132 23.88? (9,580) 42,775 24,916 2).664 2).664 195.279 1.034 664 (44.917) 8.274 (15,4201 27.000 45.581 187.005 -315,020 (722) 314.?98 Endoii'ment funds Endoii'menl Fund 2.600.000 2.600,000 TOTAI, FIINDS 2.91 i.O?O (722) 2,914.298 Pagell continued...
MARI, HOUGHAI¥I ALI¥ISHOUSES TRUST OTES TO THE FINANCIAL STATE)IENTS- eontiDued Tr-OR"IHE I'EkiR E.NDED 31 MARCH 2025 13. MOVEI¥lE,T I.Y FUNDS - eontinued Comparalive net movement in funds, included in the above are as follo.5= Ln¢oming resources Resources expended Gains and losses Movement in funds Unrestrieted funds General fund Capital Fund Cyclical N,Iaintenance Fund Extra Ordinar). Repair Fund Expansion Fund 75,692 (41,469} 34,22.3 1,034 664 (44,917) 8.274 1.034 664 664 8,274 (45,581) 75,692 (87:OiO) 10,636 (722) TOTAL FUNDS 75.692 (87.050) 10.636 (722} 14. RELATED PARTY DISCLOSI,'RES There ii¢re no relaled pany transactions for ihe s.ear ended 31 March 20?5. PagL 12
IIIARY IIOUGHALII ALI¥ISHOLSES TRU DETAILED STATEIIENT OF FI)IlNCIAL ACTIVITIES FOR THE I'E.4R ENDED 31 MARCH 2025 2025 2024 INcolE AND ENDOm,lE15TS Resident5 maintenanee ¢onlributions Resident maintenance 73,620 69.834 In*estment income Investment ineome Interest receivable 7,320 782 5.209 649 8.102 5,858 Total incoming resources 81,722 75,692 EXPENDITURE Charitable aetivities Rates and iyaler Insurance Sllndry, expenses Management fees L'nidial charges Stair lift mainleTtance Service charges Nlational association of almshouses Ombudsmi£ n Repairs and mainteiiance Room hire Repairs Elecirical ilorks Repairs - Fire protection Repairs - Gas Fires Repairs - Mlater Refurbishment Loss of deposit due to supplier insolvenci, Independent exan)inLr's fee Clerk's expeiises Accoiinlanc}' and adniinistration 2.887 1.707 2.597 2,373 145 7.200 931 624 4.101 6,600 698 3,219 4.398 411 84 495 58 1,480 131 971 32 2,759 1,819 11,924 45.581 1,782 1.728 503 703 3,042 3.463 121.175 1.680 1.224 844 152,912 87,050 Total resources e.xpended 152,912 87,050 'et expenditure before Rains and losses (71.190) (11,358) ReAlised 2nd unreali5ed reeognised gains and losses Siirplus,dLficil on ini'eslments 7,327 10,6.16 Net expenditure (63.863) {722} This page does not forni part of the slatulory. financial statements Page 13