REGISTERED CHARITY NU￿lBER. 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,GH￿￿1 AL￿lsHOU5Es 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 ExA￿lINER Iccabe Ford Williams Chartered Accountants Chdrlton House Dour Sireet DOVER Keiil C.T16 IBL CLERIK AND TRE.4SIIRER Mrs B Ransom IN1'EST￿lENT 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 all￿5 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 hal￿g 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 re￿rt 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 HOuGHA￿l ALNISHOL,SES TRUST STATENIENT OF F1)A)CIAL,I￿l1,ITlES FOR THE I'EAR Ef*DED 31 MARCH 202) 2025 Total funds 2024 Total funds Unreslricted nds Restricted fuThd5 EndoMTnent fund Notes IIYCO.NIE AND ENDOWI*IENTS 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 HOuGHA￿l 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 T￿￿t 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 alY￿e￿ale all c05t rclated to the category.. Il'here costs cat]not be directl), attributed to particular headings ihe). ha￿e 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. the Lhaiit).. Extra Ordinan, Repairs Fund (ERF). This reseTh'e represents desÉonated amoui)ts sel aside to carr) out major repairs on housing properties. If unused it iiill be used to expand the amouni of properties held b}, the charih,. Paoe 7 continlied... IARY HOUGHAIII AL￿lSHOUSEs TRusr LNOTES TO THE FIN'..IJCIAL STATE￿lEsTs- 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