REGISTERED CHARITY NUMBER: 207805 TRING CHARITIES TRUSTEES9 REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025
TRING CHARITIES FINANCIAL STATEMENTS 31 MARCH 2025 TABLE OF CONTENTS Page AIYNUAL REPORT OF TRUSTEES REPORT OF THE INDEPENDE AUDITORS rATEMENT OF FINANCIAL ACTJVITIES 12 BALANCE SHEET 13 NOTES TO THE FINANCIAL STATEMENTS 14
TRING CIiARITIES ANNUAL REPORT OF TRUSTEES FOR THE FINANCIAL YEAR ENDED 31 MARCH 2025 The Cbrlty. known as Tring Ch8rities. is registed with the Charity Commission No. 207805. 21 Bunyan Close, Tring. HertfordshlTr, HP23 5PS. Trnste¢s The TrustCC5 sttvin8 durin8 the year, and since the year end were 8s follows.. Mr C R Stevens Mr C Grc80ry MTS V A CarT Mrs S B Todd MrN Cave Mr B P Johnson Cl]r MTS P J Hearn Mr H T Grace MrETOram Chairman (colatiVe Truste¢) Vice Chainnan (c0PtaI1vC Trnstee) Co-optative Tru5e Cowoptative Trustee Co-optstive Trustee Co-optativc Trnstee Norninated by Tring Town Council cOpts11ve Trnstee Nominated by Tring TO Council The Chi¢f Executive Officer, who is responsible forday day manag¢m¢nL is Mrs E Winter. Battkers Natlonal W¢stminster Bank PLC. 9 Bank Cour4 Hemel IIempste. HertfoTdshire HPI IBS Solicitors Wilkins Solicitors. Lin¢oln Hous¢. 6 Chur¢h StreeL Aylesbury, Buckinghamshire HP20 2QS Investmtnt Mall2gcr3 Church¢5. Charities & Local Authorities (CCLA) Jnve5tmeth Management Lld One Angel Lane. London EC4R 3AB Aiditors Dux Advisory Lt4 Kennel Club Hou*, Gatehouse Way. Aylesbury, Buckinghamshire. HPI 9 8DB Siructure. GoverDaTr¢e & Manag¢meDt Goveming Document The charity is controlled by its governing documenL a deed of trust and constitutes 8n unincorporated charity. The Trustees present their report with the financial statements of the charity foi the year ended 31 March 2025. The Twstees have adopted the provisions of Accounting and R¢portinB by Charities." Sthtement of Recommended Practice Applicable to chaTitie5 preparing their acwunts in accordw)cc with th¢ Finan¢ia] Reporting Stwd8rd applicabl¢ in the UK and Republic of IRland (FRS 102) (effcGilv¢ l Januftry 2019).
TRING CHARITIES ANNUAL REPORT OF TRUSTEES FOR THE FINANCIAL YEAR ENDED 31 MARCH 2025 Con¢inued Appolwlmut of Truste¢ Indu¢tloD and Training The Goveming D0ment requires that there be two Trusttts nominated by Tring Town Council, two nominat¢d by Tring Rurdl Parish Council and seven cPIed. E4¢h Tntee is appointed for a period of four years atha can be r¢-appointed atthe end of that pcriod. Vacanciescontinue to exist for suitsble nominee$ by TrinB Rur Parish Counril. In appointing TTUStee5, regard is had for the ski115 and expericnce rwired to mainlain a b81gn¢ed board capabk of meeting the managthient requirements of ihe charity. On appoinbnent, and periodically thereafter, Tntstees are infornied of their responsibilities and liabilities. Particular reference is ma¢k to the fjoverning Doeumeni the Charily Commission publi¢ation"Responsibility ofCh8Tity Tru5tee5" and the Almshouse Assc¢iationpublication "Standards of Alrnshouse Managcment", copies of which are available to each Trustee. Trust¢e5 aT¢ ¢n¢ourdgcd lo attend appropriate cxt¢rnal events. where thig will facllitate the widertsking of their rok. Organlgallo• The Board of Trustees administers th¢ charity ond meets a minimum of ihree iitnes a year. Theft are sub- ¢ommittees covering housing applications and alloDnent management. Other 5uIKomrnillees are foTmed from timc lo time to deal with specific projects. To facilitate effective operations. the Chief Executive has delegated authority. within ternis of d¢le8ation approved by the Tnths, for operational matter4 including fina1a1 aftd premises management. Rtlated Partles The charity works ¢losely with the Almshouse Association for advice and guidaTtce on op¢rntional Trssues, the Charity Commission for 8ssist8nce wTrth. and approval of, govern8nce issue5 and changes, ond with Dacon Borough Council on housing matters. RL8k Management Tr TNstees have a risk management strategy. which compri5cs rcBular r¢vi¢ws of the risks awaociated with its activities. SysteTn4 procedures an(L where relevanl, insurance covers are established to mitigate these risks and to minimise any poteniial impact. A key element in the management of financial risk is thc settiTJg of a r¢5crve5 policy, aftd its regu]&r review by the Trustees. Objeetfvtt and Ac¢lvltles The obj¢ctsofthe chariry are the provision of housing Eccommodation for[efiCiarIeS who are in financial n. the relief of financial hardship. either 8eAeTally or individwilly of beneficiaries. and therelief of beneficiari who are sick. disabled or a8ed. Benefi¢iwies, with certain exceptions, must be resident in the area of ber*f¢ lch is the Ancient PaTish of Trin8 {comprisiDg the town of Tring and the villages of Long Marston, Wilstone and Puttenham) and the adjant villages of Wigginton, Aldbury. MaTSWOrth and Pilsne. The ch8Tity'5 Il>je¢tS and aims are met from year to year by the etTicient manag¢m¢nt of almshouses and other propcrty 0ed by the charity.
TRING CHARITIES ANNUAL REPORT OF TRUSTEES FOR THE FINANCIAL YEAR ENDED 31 MARCH 2025 Continued The majoriry of incomc arises in th¢ forni of weekly maintenance contribution5 ¢'WMC") from residents and property ren( and th¢ remainder almost entirely from inve5th1ent income. WMC and property rcnt is reviewed annually and fixe4 taking due regard of the Local Housing Allowance advised by the Valuation Office Agency and Almshouse Asso¢i8tion 8uidelin¢s. The charity does Dot canvass actively for donations. ID¢ome is used to meet approved blBeied expenditure and to make transfers to reserve5 within Agreed parameters. A¢bievw¢nts aDd P¢rforn•nee Almshouses Bre situated in Trin8 (the18nd and buildings ovmeAI by Tring Charities) as follows: Ash Road 7 Units Vesty Ha]1 3 Units Westron Gardens 20 Units All of the units are occupied currently; those at Vestry Hall by younger people who, for a numiw of reasons are unable to compete in the commercial market forprowties. The remaining properties are o¢¢upied by ppIc a8ed 55 and above. Void5 amounted to £2.269 this year. Incorne aDd expeftditu wa5 Close to that budgeted. All ofthe proJxrti¢$ have been maintsined in a satisfactory condilion and there is an on-going pmgr3mmc of routine and cyclical maintenance. Tring chariti also own5 lets a 8arnge and hall at Ve5ty Hall, Trifig and a property in Duttdale Road. Tring. Land is held: 1. 5.22 acre5 of arable a8ricuiturnl land at Wilstone. 2. 0.58 acr¢s of allotment gardens at Potash L8n4 Long Marston. PPTQX. 2 acres of 8llolment gardens ai Mortimer Hill. Tring and 4. approx. 3.5 am of re¢r¢8tion ground at Mortirner Hill. Tring. The Ègriculiural18nd at WilOne is let. partly to # ]( Allotment Association. All th¢ &llotments at Long Marston are mana8ed by Trin8 Chariti¢5 (half on behaifof Long Mar5ton Church). The recreation ground at Mortirner Hill is mamaged by Dacorum Borou8h C(Mmcil and no ch&rg¢ is mede by Tring Charities for its use at presenL. Gener41 ben¢fitforthe poor continued to bc a feature of the clwity's Work. Donationsamountsngto £5,852(2024: £9.933) were made durin8 the year. The Millennium Education Foundation was launched in 1999 is a separate charity under the control of Tring Chariti&s, numEered 1077157. The Foundation provides 8rants io impecunious students from Tring and 5urroundin8 villages WArdS th¢ cost of higher education. and its work continued through the year.
TRING CHARITIES ANNUAL REPORT OF TRUSTEES FOR THE FINANCIAL YEAR ENDED 31 MARCH 2025 Continued FiknADeial Revie The Trustces aim to provlde sufficient income from almshouses, other propety and investments to cover anticipated charitabl¢expenditur< includingdepreciation. Total incoming resources amounted to £299,516(2024: £282,138) and total Tesources expended were £J98,784 (2024: £228.256). Imvestment Powers Polley Under the govcming do¢umenL the ¢harity has the power to invest in any waythe Trustees wish. By investing in income and growth nds, the Tnthes aim to maintain sufficient assets to secure the benefits of both present and firtur¢ beneficiaries. The net loss on Tevaluation of investtnents in the year was £148,066 (2024: £267.834 gain). ReseTve5 Policy In addition lo generhl reserves for working c&pitRI purposes, reserves are required to fjjnd fvturc medium-term expenditure in the fom) of cyclicai rnaintenance cost4 extraordtnary unforeseen repair costs in the long lerm, the cost of Tebuilding freehold premises. Regular transftrs to reserves are made eth yw to mcet these eventualities. Adual r¢T¥e5 at the end of the year were: Cyclical MaiJ)tenaTAce Fund Exttaordinary Repair Fund Property Sinking Fund 494.798 299,290 2,195,849 (21)24: £486,058) (2024: £293,965) (2024: £2.192.283) Separate des1ted investhjents we hekl in respert of these fvnds and the inveStmt wfOrniar is reflerttsl in the above fi8iire$. The TTU51ees review regularly the reserves policy and the perforniance of the underlying investments to satisfy themselves that the reseeS are adequate for their purpose. Amounts have been transferred to Iksignated ReserY¢8 (s¢¢ no* 13) in line with Almshouse Association recommendations. PIAns for Futare Perlod8 Tring Ch8ritl¢s will ¢ontinue trj help rneet the needs of qualifying beneficiarie4 especially in the fields of hou5in8 and edUClon. Staiement of Tnsle¢5' Responsibilities The T(¢¢5 are responsible for pRparin8 the Annual Report and the fitwi¢ial ststements in a¢cordan¢¢ with pplicabl¢ law and regulations. Law appli¢able to charities in England & Wales. the Chwiiies Act 2011, Charity (Accounts and Reports) Regulations 2008 and the provysions of the trust deed requires the Trustees to prepare financial st•tements for ¢aeh financial year, ]ch 8ive a true and fair view of th¢ charity's financial activities durtng the year and of its rinancial position at the end of the year. Im preparing these financial statements. the Tru51¢es are required to: select suitable accounting policies and then apply them eonsistenily. rnake jud8ements and estimate5 that are repsonable and prudenL
TRING CHARITIES ANNUAL REPORT OF TRUSTEES FOR THE FINANCIAL YEAR ENDED 31 MARCH 2025 Contlnued state whether applicable UK accounting standaftls and statements of I¢MMended practice h&ve been followed. subject to any molerial departures disclosed and explained in the financial statements. prepaTC the finan¢i81 ststements on th¢ going c¢M basis unless it is inappropriate te presume that the charity will continue in operalion. The TNstees ar¢ responsible for keeping accouThtin8 records that disclose with rnsonable accuracy 8t any time the finan¢iaJ position of ihe charity ond which ¢nabl¢ them to ertain ihe financial position of the charity and to ensure that the financial statements comply with the Charities Act 2011 and the tTUSt deed. They att also responsible for safeguarding the assets of the chartty attd henLY f(Y taking reasonable steps for the preveniion and detection of fraud and other itreBulaTities. The Anftual Teport of Trn5ttts was approved by the Board of Trustees on 25 September 2025. ColiD IL Stevens Chalrman of Tru$ttts
REPORT OF THE INDEPENDENT AUDITORS TO THE TRUSTEES OF TRING CHARITIES OplDIo Wehave audited the financial statements ofTring ChaTiti¢S {the'charity') forthe ycar¢nded 31 Mrh 2025 which compri% the StstemeTht of Financial Activities the Balance Shect ond nole5 to the financial stst¢m¢nts, including a summary of significant Unting polici¢& The financial reporting framework that Iw been applied ID their preparation is applicable and United Kingdom Accounting Standords (United KlnEdom Generally Accept&4 AccoufttinB Practice). In our opinion the financial st&ements: -giv¢ a true and fair view of the stste of the charity's affhirs as at 31 March 2025 and of its in¢oming rcsouTttS d application of resour¢e& for the year then ended. ave been properly prepared in accordan¢e with Unlted Kingdom Ge¢rlY Acttpted Accowi¢ing Prxti¢e; and ave been prep8red in acr(¢d•nce Wbth the requiremcnts of the Chiti Act 2011. sk for opiDiox We CL¥UCted ouraudit in accordance with International standds on Auditing (UK) (ISAS (UK)) and applicable w. Our responsibilities under those stsnd8rds are further described in the Auditors, responsibilitie5 for the audit of the fmancial statements section of our reFQrt. We are independent of the Charity in accordance with th¢ ethi¢al quiremenis that are relevant io our audit of the financial statements in the UK, in¢luding the FRC'S Ethi¢al Standard, and we have fvlfilled our other ethical reSnsibIlItieS in accordance with these requirements. We believe that the audil evidence we have obtained is suffioient and appropri8te to Provid¢ a basis for our opinton. Con¢lu$loDS relating to 8olng COb¢ern In auditin8 the financial statements, we have concluded that the Tntee5, use of the going concern basis of accounting in the prcpration of the financial statements is appropriats. Based on th¢ work we have perfornd. we have Mt identified any material un¢ertain¢i¢S relating to events or conditions thaL individually or collectively. may cast Significarst doubt on the chwity's ability to wntinue as a going concern f<Jr a period of at kast twelvc months frorn when the financial s¢atcments are authoris¢d for issue. Our reSPsIbIlitIeS and the responsibilities of the Trustees with K8pect to goin8 concern ar¢ described in the relevant sections of this report. Other information The TStee5 Bre responsible for the other information. The other inforniatlon comprises ihE inforniation included in the Annual Repon. other than the financial statements and our Report of the Independent Auditors thereon. Our opinion on the financi81 statements does not cover the other inforniation and. except to the extent otherwise explicitly SEated in our ffporL we do not expTe5s any forni of assurance conclusion theTeon.
REPORT OF THE INDEPENDENT AUDITORS TO THE TRUSTELS OF TRING CHARITIES Conilnued In connection wilh our iudli of the finencial statements, our responsibility is to read the other infonnatim and, In doing so. consider whether th¢ ijther infomiation is materially inconsistent with the financial ssatements or our knowled8e obtsined in the audit or otherwise appears to bc materially misstated. If we identify su¢h terial inconsistencies or WPPaTent material misslalernents. we are requir¢d to detern)ine wh¢ther this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have perforn?ed, v conclude that there is a material misstatement of this other infonnation. we are requlred repm fact. We have nothing to report in this regard. Oplnlons OD other matters preserlbed by the CompAol&s Aet 2006 In our opinion, based on the work undertaken in the course of the audit: the infornl10n given in the Report ofthe Trustees forthe financial year for which the financial Slatem¢nts are prepared is ¢onsithnl with the r)nan¢ial statements" and the Report of the Trustees has been prepared in accordance with appliuble le8al r¢quir¢mmis. Mitttrs oh which we are wulred to report by ¢xeeptlo In the light ofthc knowl¢dge and understanding of th¢ charity and its envxronment obtained in the course of the audil we have not idmtified material misstatements in the Report of the TTUStee5. We have nothin8 lo report in respect ofthe following matter5 where the COMP]eS A¢t 2006 requires us to report to you if, in our opinion". athquat¢ ac¢ounting records have not been kept or retums adequate for our audit have not been Teceived from branGhgs not visited by u5; or tjx finantial ststements are not in agreement with the accounting records and retums. or ccrtain disclosures of TTUStees' remuneration specified by law are not made; or we have not receiv¢d all th¢ infom?At20n and explanations we require for our audil- OT TneeS were not entitled to take advantage of the small companies, exemption from the requirement to prepare a Strategic Report or in preparing the Report of the Trustees. RespoDsibilities ofTrnsttes As explained rn0 fully in the Ststement of TTrMees' Responsibilities, the Trnstees are responslble for the preparation of thc financtai statements which give a tnje and fair view, and for such internal control as the Trustees ddeTmine is necess to ¢nable the prep8ration of fm8n¢ial statements that are free from material rnisthtemen wh¢th¢r due to fraud or In prewin8 the financial statement4 the Trustees are responsible fora5s¢ssing ih¢ charity's ability to Continue as going eoncern. disclosin& appIlbI@ matters related to going concern and using the going ¢oncem basis 4)f accountin8 unl¢ss the Trustees elther intend to liquidate the ¢haTity or lo cease operations. or have no realistic alterntitive but lo do so.
REPORT OF THE INDEPENDENT AUDITORS TO THE TRUSTEES OF TrIY4G CHARITIES Continued Our responsibllltltt for the attdit ofthe fiDelI1 statemebts We have been appointed as auditors under Section 144 of the Charities Act 20118nd rew¢ in aOrdanC with the Act and relevant regulations made or h&ving efftct thereund¢T. Ourobjedives are io obtsin reasonable assurance about whetheT the financial Statements as a wholc are ftte from ma181 misststemenE vAJetheT due to fraud or error. and Io i55ue a Rgport of the Independent Auditors thal includes our opinion. Regsonable )ssurancc is a high level of assurance. but is rt a Buarantee that an audit conducted in accordance with ISA5 {UK)will always detecl a rnaterial mi55tatementwhen it exists. Misstatements can arise from fraud orerror and are considered maierial if, IndividllY or in the ag8regai4 ¢hey could reasonably be expected ID influence the economic decisions of users lak¢n on the basi5 of these financial statements. The objeclives of our audit are to identify and assess the rlsks of material Misslatent of the financial stalemcnts due to frnud and error. to obtain suificient appropriate 8udit evidence r¢8ardin8 ihe w5ed risks of malerial misstatement due to fraud or error. and to resp)nd appropriat¢ly to tho5¢ risks. Owing to the inherent limitations of an audii there is an unavoidable risk that material misstatements In the financial 5tat¢ments may not be detected, even though the audit is properly plonn¢d and wfornied in accordance with the ISAS IUK). In idryttifying and ¥s5C5sin8 risks of material misstatemt in respect of irregularitie5, including fraud and non- compliance with laws and regulation& our prcttdures in¢luded the foll¢)win8: We obtained an undeT51anding of the legal and regulatory framewoTk$ 8pplitable to the ch8Tity and the sector in which it operates. We determined that the laws and rcgulations that were most significanl: The ChaTities Act 2011, UK GAAP, The Dats Proteciion Act And Occupational Health and Safety regulations. We obtsined In understsndin8 of how the Charity is complying with thos¢ legal and regulatory frameworks made enquiTi¢S to the management and Tnre¢S of known orsUSP%t¢d inth¢es of fraud ark4 non-compliance with 18w5 2nd regulations. We wrrobora*d OUT enquiries through our review of board minutes. other relev1 meeting minutes and review of correspondence with Te8uIRtory bodies. We asse5s th¢ susceptibility of the Charities finaftcial statements to matcrial mi551at•n¢nL includin8 how hud might occur. Audil procedures perfomed by the auditt¢8m in¢luded: o Identifying and assessing th¢ controls management has in place to prevent and detect fraud. Understanding how those charged with 8overn8nce considered and addressed the potential for override of controls or other inappropriatc influence over the financial reporting process" Chpdllenging assumptions and judgments made by management in its significant accounting ¢slimat¢S and judgments. in particular relation to the reco8nition of Land & Buildings Identifying and le)ng journal entrie& in parti¢ular journal entries Posted unusual 8e¢ount combinations- Assessing the extent of compliaftce with thc leVant laws and regulations. The are inherent limitations in the audit procedures des¢rlbed above and the further removed non-compliance with Iwws and regula¢ioThs arc from the events £Ad transathions reflected in the financial ststemcnts, the l¢ss likely we would bewme aware of il. Also. the risk of not d¢tecting a material misstatement due t¢ fraud 1$ higher than th¢ risk of not detectin8 one resulting from eTror, a5 fraud may involve deliberate conce41rnent by. for example. for8¢ry or inlen¢ional mIsreprenIat1On4 or through ¢ollusions.
REPORT OF THE INDEPENDENT AUDITORS TO THE TRUSTEES OF TRING CHARtTIES Conlinued A furth¢r description of our responsibilitics for the Audit of the financial statements is located on the Financial Reportlng Council's website at www.frc.OTg.uklaudiiorsr¢sponsibilities. Thisd¢scription fornpart of our Report of the Independ¢nt Auditors. Use of our report Thi5 report 15 made solely to the charity'sTrusteu. as a body, in accordance with Port4 of the Ch8rtti¢s (A¢wunts and Reports) Regulations 2008. Our audit WOTk has been undertaken so that misht state to the charity Trustees those matters we are Tequired to state to them in an auditOTS' Teport and for no other purpose. To the fullest extcnt pernyitted by law, we do not a¢pt or 8ssume responsibility to any¢ other than the charity and the ¢hwity's TnsSte¢s as a body, forour audit work. for this Teport, or for the opinions we have fonned. £ PLFfi Bianca Pern1 FCA (Settlor Ststuiory Auditor) For and on behalf of Dux Advisory Ltd Kennel Club House Gatehouse Way Aylesbury Buckinghamshire HP19 8DB l Odnknr ao
TIUNG CHAIUTIES STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2025 Note 2025 IneomlDg resources Charitabl¢ Activities Weekly Maintenance Contributions e'wMC') & Rents Generated Funds Investmeni income Bank interest 14 207.121 195,813 91,335 1.060 85,564 761 Other Income Totsl IDcwi•g resourtts 299,516 282,138 Total resoyrce5 expended Charitable Expenditure 14 (198,784) (228,256) Net incomiyl(olltgoing) resoyrces before other reeogni8ed galns ¥nd lo Net Gainl(Loss) on revaluation of investments & property 100,732 53.882 2&3 (148,066) 267.834 Net movement In fvnds (47?34) 321.716 Reconciliation of fujds Total fvnds brought foTwaTd 5,741,589 5,419,873 Totsl fBnd% CArrled fornard £5,694,255 £5.741,589 Tr statement of financial tIViti inrludes all Bains and losses in the year. All Inc(Nning rur$ and r¢sour¢es exp¢nded derive from continuing activitic& 12
TRING CHARITIES BALANCE SHEET AS AT 31 MARCH 2025 Not 2025 2024 TAY4GIBLE FIXED ASSETS 2,476.114 2506.414 INVEsfMENTS 3.120.509 3,109575 5,596,623 5.615.989 CURRENT ASSETS Debtor5 Cash at Bank 5,073 102,751 4,714 138.782 CREDITORS Amounts falling du¢ within one year 107,824 143,496 (10,192) (17I96) NET CiJRRENT ASSETS 97.632 125,600 TOTAL ASSETS LESS CURREf4T LIABILITIES £5,694255 £5.741,589 UNREsfRICTED FUNDS Desi8nated Funds G¢neT81 Funds 13 2.989,637 2.704.618 2,972,306 2,769,283 £5,694,255 £5,741,589 Approved by the fT s and authorised for issue on 2S Septernber 2025 arml signed on its behalf by: ..C R Stevens. Chainnan of Trnstees The accompanying notes on pages 14- 22 fonn port of these financial staiements. 13
TRING CHARITIES NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 3J MARCH 2025 I. ACCOUNTING POLICIES a) Ba$ls of preparlng the finaDeial statements Th< fin¥ncial statements ofthe charity, which is 8 publi¢ b¢nefiteniity underFRS 102. have been prepaycd in accordance with the Financial Reporting Standard applicable in the UK and Rqjublic of Ireland (FRS 102). Accounlin8 and RepoTtin£ by Charities: the Ststement of Recommended Practice for charities applying FRS 102 issued in October 2019, the Charities Aet2011 and UK GeneTally Acceptsd Accounting The financial stakmenis have been prepared under the histr)rical cost conv¢ntion, as modified by the revaluation of assets. The psentatiOn currency of these financial statements is in Pounds SteTlin8. The fiJJan¢ial statements have b¢¢n pryr¢d to give a and fairf view and have departed fmm the Charities (A¢¢ounts and Reports) Regulations 2008 only to the extent required to PTDvide a'true and fai view. This departure has involved following the Charilics SORP (FRS 102) rather thon the Accounting and Reporting by Charities". StatcmcJRt of Recomm¢nd¢d Practice effective from l April 2005 whi¢h has since been withdrawn. Tr rjnancial statements have been pr¢p3ffd on a 80ing con¢¢rn basis. The Trustees have reviewed and considera rclevant inforniation, includin8 the annual bud8et and fure cash flows in making their assessment. The TTUStees have tested their ¢&8h tlow analysis to tske into account the impact OR th¢ir charity of possible 5¢¢nari05. alongside the measures that they can take to mitigate the impact. B4sed on thes¢ ass¢5sments. given th¢ rneasuresthat could be underlaken to mitigate the current adverse condition& and the current resources available, the Trustees have con¢ludcd that they can continue to adom the going ¢on¢em basis in preparing the aTrnual rep)rt and a¢¢ounts. The principal aECOUntin8 policies adopted are setout below. These policie5 have been consistently applied to all years presented unless otherwise stated. b) Taxglble Ftsed Assets Freehold Propcrty is showm at deemed ¢oM (valUed in 2015 as part of the tran5ilional arrangements Ilowed following the introduction of FRS 102) and 984)A of this valuc Is depreciated on 4 $traight- line basis ai 2¥• per year. There are a number of plots of lan given to the charity over the years and these have not be¢n attributed a value in the financial statements as it has not been possible to ascertain any cost orto value them with any accurdcy. The hav¢ been referred to in ihe Annual Report of the Trust¢es. c) FrAed Asset Inve5tmeDts Investments in equity instwmcnts initially recognised at trAnsactioD price excluding tronsaction costs nd are subsequently me8sllred at fair value with change5 re¢o8niscd in th¢ Ststemenl of Financial Actlvities. 14
TRING CHARITIES NOTES TO THE AccouNrs FOR THE Y£AR ENDED 31 MARCH 21r25 Continued d) IDcomlng Resourtt5 All incoming rc50UTces Ire included in the statement of findncial actlvities when the thaTity is cntitl¢d to th¢ fwid4 it 15 pmbabk that ihe income will be received ajxl the amount be measured reliably. c) Rewureu Expended Liabilitics are recognised as expenditure as soon as there is a le8al or constructive obligation committin8 the ¢harity to that expeTJdithre, it 1$ probablc that a transfer of economic benefits will be required in settlement and the amount of the obligation cgn be measured reliably. ExpendiiUi¢ is accounted for on on awuals ba5i52nd has been classified und¢r he8dings that aggregate all cost rel&ed to the category. Where costs cannot be direcily attributed to parti¢ular headings they have been allo¢atrd to xtivities on & basis onsistcnt with the use of reurCeS. n FIDaDclal In5trnments The chBrity has elected to 8pply th¢ provisions of Section I I 'Basic Financial Instruments, and Section 12 '(MKr Financial 1Th8triimeThts Issues, of FRS 102 to all of its finan¢ial instruments. Financial instruMts arc reco8nised in the charity's balance sheet wh¢n the charity b¢¢omes paty to the contractyal provisions of the instrument. Fin¥111•$ts and liabilitie5 arc offseL with the net amounls premted in the financial stalements, when thcre is a legally enfoTceable right lo offt the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle thc liability simultaneou51y. Flna•¢lal Instrume•ts at morli5ed eost The dbarity trade debtor and ¢reditor balan¢es are measured ttt amcrftised cost taking into arcountbad debi provision or writs offs respectively. g) Taxatlon Th¢ dwity is exempt from wrporation tax on its tharitsble activities. h) PensioDS The ¢harity operates a d¢fin¢d contribution pension schcm¢. Contributions payable to the charity's pension scheme 8re charged to the Statement of Financial Activities in the FrioKI to which they relak. i) Funds Strudure General fijnds are unresiricted fuTrJs whi¢h are available for use at the discretion of the Trustees in fvrtherance ofthc general objectivesofthe Charity and which have not been designated for otherpurposes. Designated funds are unrcstri¢ted funds that have been set asid¢ by the Trustees for particular purposes. The aim and use of each designated fimd are set out in rMe 13 of the fincIAl stat¢m¢nts. 15
TRING CHARITIES NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2025 Restrithd funds can only be for pgrticular restricted purpos¢5 Within the objects of the Charity. Restrictions rise when specified by the donor or when funds are raised for particular restricted purposes. Th¢¢h8rity has no restricted fvnds at the Balance Sheet date bul should a donor require that & donation be spent on a particular purpo%. or should funds be rnised for a spttific purpose, these would be separalety idrntified. j) Criti1 Aeeounting estimates Dd judgemtnts pttparift8 financial statements it is necessary to make certain judgements, eslimat¢5 and umlOn$ that aff1 the amounts recognised in lh¢ finanrial statEments. Thue a5sumption$ are reassessed annually s part of the accounts preparati(m pro¢e. The crilical jud8m¢nts that the Trustees have made in th¢ process of applying the charltys &¢couing polieies that have the most Si8nifi¢ani effe on the statutory financial slaternents ar¢ discussed below. (i) Useful economic lives oft•n8ible &ss¢ts The annual depreciation tharee for property, plant and equipment is Sensiti to ¢lwnge$ in usefvl ¢conorni¢ lives and residual values of assets. These 8re Teassesscd annually. (li) Recovernbility of debtors The charity esthblishcs a provision for debtors that are estimated not to be recoverable. When assessing recoverability. the Trustees have considered factors such as the ageing of debtors P&St experience of r0Verabl1ity and the credit profile of individual or groups of custorn¢rs. k) Cssh And eL8h equlvalents Cash cath equivalents include cash in h8nd, deposits held at Call with bank4 other short-terni highly liquid inveskn)ents with original maturit1¢5 of three month5 or less and bank overdrafis. B8T& overdral when applicable, are shown wiihin tLirrowi7Jgs in currut li8biliti¢s. 16
TIUNG CHARITIL NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2025 Continued Z TANGIBLE FIXED ASSETS Freehold Property COST OR VALUATION As at 31 March 2024 Addition 3,825,000 46200 As 8t 31 March 21r25 3,87131NJ DEPRECIATION As 3131 March 2024 Charg¢ for the Year 1,318.586 76,500 As at 31 March 2025 I J9S086 NET BOOK VALUE As at 31 March 2024 £2,506.414 As 31 March 2025 £2,476,114 3. FIXED ASSET INVESTMENTS Llsted Jnvestmtnts COST OR VALUATION As 31 March 2024 Additions ain(LoSses) on revaluation As at 31 March 2025 3.109.575 159.0(K) 14 LI.1209 17
TRING CHARITIES NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2025 Continued 4. DEBTORS 2025 778 4.295 2024 803 3,911 WMC Teceivable Prepayments and Aecrned Income £S073 fA.714 S. CASH AT BANK 2(Y25 2024 Natwest Bank CharitiC5 Deposit Fund (CCLA) 71.432 31,319 39.799 98,983 £102.751 £138,782 6. CREDITORS Amounts falling due within one year 2025 2024 AcenS and Sundry Creditors £iO,J92 £17,896 7. DONATIONS 2025 2024 Chrtstmas Gi118 to Beneficiaries Sundry Donations 2,403 3,449 2,403 7.530 £5052 £9,933
TRING CHARITIES NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2025 Continued . TRUSTEES, REMiiNERATION AND EXPENSES None of the Trnstees (or any FTson$ ¢onnttted with them) received any remuneration benefits or reimbursed expenses frorn the charity during the year (2024: £Nil). 9. WEEKLY MAINTENAIYCE CONTRIBUTIONS SERVICE CHARGES ("WMC There were 30 almshws¢ units in managen¢nt throughoth the financi81 ycar (2024.30). Total WMC rKeivabk was£192.985 {2024: £183,562). Losse5 arising from vacancies amounted 10£2,269 (2024: £4.0061 There were bad debts of £Nil (2024.. £Nil). There were WMC 4rreors of £778 (2024,. £803) at the year The 4veTage WMC per Mshouse for the year was £6,433 (2024: £&118). This represents an inCTeas¢ of 5% on the pwious year. 10. STAFF COSTS AFID AUDITORS? REMUNERATION Th¢ avernge number of persons employal by thc charity during the year was 2 (2024.2). No employee benefits exceeded £60,000. (2024 . £0) The aggr¢gats payroll costs were #s follows: 2025 2024 Salarie& pEnsion and N.1. £35,149 £32,932 AudiloTS' Remuncration 2025 Audil Other Services 6.234 5,940 19
TRING CHARITIES NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2025 Continued 11. ANALYS15 OF NET ASSETS BETWEEN FUNDS G¢Der•l Funds Total D¢signat¢d Funds Total Funds Tangible fixed assets Investments Cash at bank Other net current a5sels 2,476,114 130,872 102,751 2.476,114 3.120.509 102.751 2.989,637 704 18 £2 JI MOVEMENT IN FUFIDS G¢neral Funds 2.769.283 299,516 (198,784) {159.000) D¢slgttat¢d Funds 1972.306 Tot*1 Fund5 5.741.589 299,516 (198.784) As at l April 2024 Ineijming Resource5 Expendilure TrBnsfer from General Fund Depreciation ID Undertylng Investrftents 159,000 141669 As at 31 March 2025 CoMPATIVE FOR MOVEMENT IN FiINDS G¢n¢rAI Funds Designated Fvnds Totsl Funds As at l April 2023 Incomin8 Resources Expenditure Transfer from General Funds Appreciation in Underlying Investments 2,859.851 282,138 (228.256) (156,000) 1560.022 5.419,873 282.138 (228256) 156,000 256 As at 31 March 2024 741 2Q
TRING CHARITIES NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2025 Continued I& DESIGNATED FUNDS Propcrty Cyclical Sinking Fund Maintenance Fund Extraordinary Repair Fund Total Designated Funds As at l April 2024 Trdnsfer5 frorn Genernl Funds Depreciation in Underlying Investh)ts 2,192,283 106.(K)O 486,059 33,000 293,966 20,000 2.971308 156,000 138 671 As at 31 March 2025 £2.195349 £494.798 £299290 £2.989ffj37 Property Sinking Fund. Purpose: To build a fvnd sufficient to re-build the cherity's almshouses when no bn8er fit for repair. Basis oftransfers: Each year, 2% of latest re-inststement value aq certified at each quinquennial inspection. Cyelkll MalnteiiADce Fund & EXtrrdinary RepAir Fnlld PuTFKise: To bjild sufficient funds to provid¢ for cost of cyclical repaiTS (¢.8 replacement of kilehths ond bathroom5) 8nd extra-ordinary unexpected repairs (e.8 roof repair5 where not covered by insur4nce) Basis of Transfers: Each year. amount per Iroputy as Tecommended by The Almshouse Associalion. 21
TIUNG CHARITIES IYOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2025 Continued 14. DETAILED STATEMENT OF FINANCIAL ACTIVITIES Chari¢abl¢ Activltle8 2025 2024 JNCOMING RESOURCFS WMC -Almshouses Less Voids 191985 (2.269) 183,562 (4,006) 190,716 179.556 Rents- Allolments Vestry Hall 1,223 5,520 1,075 5,520 9,662 85.564 761 InvestmeN Income Bank Interest Other Income 91,335 1,060 £299,516 £282,138 RESOURCES EXPENDED Repairs & maintenCe Servi¢¢ Costs Lifeline Rental Depre¢iaiion INote 2) Donations (Not¢ 7) Subscription5 Secretary's Employment Cosl Mainknance Officer's Fmployment Cost Postage. Stationery, Tel. & Travel Legal & Professional F¢¢s Insurance surtdrl & Bank Clwrges Adv¢rtiSbng 66,532 613 (47) 76,5(Kl 5,852 89,636 933 3.190 76.500 9,933 770 22,732 10.200 1,120 8.034 4,487 70 24.399 10.750 443 7,460 4.614 264 INCOMINGIIOUTGOING) £IW732 £53382 22