I THE LYGON ALMSHOU8ES I THE LYGON ALMSHOUSES FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 Regislered Charity Number.. 208562 Registered Provider Number.. A0646 THE LYGON ALMSHOUSES Cortt•nts Page Legal and Administrative Details Report ￿ the Trustee$ Independent Examinerfs Report Statement of Financial Aclivtrlles 24 Slalement of Flnanclal Posilbn Slalement ol Cash Flows NtstÈi lo the Financial Slalemenls 10-21 THE LYGON ALMSHOUSES LEGAL AND ADMINISTRATIVE DETAILS FOR THE YEAR ENDED 31 MARCH 2024 Chalrman Mrs Val Bather- ￿aPpoInted 19 Aug 2020 Chaiman from 18 Oct 2023 Th$ Rev Ross Gunderson - Chaiman until 18 Ocl 2023 Vl¢oStees to Pfepafe financial slalemenls for ea¢h financial year which give a Irue and lalrview ol Ihe slate ol allairs ol the charity all(J of the incomw resources and applicatitsn of ￿¥oUt¢¢$ of the ¢harily lor Ihal period, In preparing Iheso accounts the Trustees are required to:. Sele¢l suitable aocounling policies arKI then apply them consislenlly ObseNe Ihe methods a￿1 principles ol the Charilles SORP 2019 IFRS 1021 Make judgements and estimates that a￿ ￿asOnable 8nd Prudent Sl8le whether appli¢8ble accounlillg standards have been followed Prepare the ac¢ouni$ on the going concem basls unless it is Inappropriate lo presume Ihal the charity will continue in operation The Trustees are rèsponsiblè forke8ping proper 8c¢ounllng records that dls¢lo$e ￿th ￿asonable accuracy 818ny time thefin8nclal posilif>noS Ih¢¢harity and ¢nabl¢ Ih¢m to ¢nsure that thofinanGiJl $latén16nts comply ￿th thè Charillès A¢1 2011, the ChaTrlies {Ac¢ounls and Reports) Regulations 2008, and the provisions of the Irusl dee(S. They are also responsible foi safeguarding Ihe assds of the chaiity and hen¢e fortaking feasonable slepsforlh? prevenllon 9nd detecllonol fraud and olher irregularities. 10. Value for money The Trustees are mindfulof thè nÈèd lo obl8ln value formoney in all transactions entered into on beha of the charity. In respect of Ihe major works lo be undertaken a competitive lender involving three potential ¢onlr8¢lors Is carried out. The regulator has issued value formoney metrics to ensure perfomiance to be measured consistenty for each Registered Provider. We have adopted these which are reported below. THE LYGON ALMSHOUSES REPORT OF THE TRUSTEES (¢onllnuodJ FOR THE YEAR ENDED 31 MARCH 2024 Indlcator Reinveslmenl in developmenland ca ital works New svpply delivered Social housin units New supply deliVe￿d Non-social housin units Gearin Inte￿81 cover inciuijing ca ilalised re airs EBITDA-MRI Social housing cost per unil 2024 1.32ts 2023 10.66% Commgnta Last year incI￿led major wndow replacement ramme. No additional units No loan5 ale hEld £6,353 £10,051 Reduced capital woths - see above Operating margin Social housin eratin mar Relum on c8 -29.43% -18.29% overall 1181 e lo .29.43% -2.910 -t8.2￿ -1.61% Increased expendilure on repalrs Dlsclosure of Inforniallon to th• r•portlng accountants We. held offi￿atthe date of approvalol theseFinancial Stalements as set out aboveeach confirn, so far as we are aware, Ihat.. the￿ is no ￿levant audit infomation of ￿1)ICh the al￿*10r5 are unaware., and we have taken all the steps Ihals* ought lo have taken a5 member¥ of the B08rd In order lo make ourselves aware of any relevant audit inlomiation and to establish that the auditors are awdre ol thal infonnalion. Signed by order of the Trustees.. Mrs Val Barker ICh8im)anl 2024 Charfes Noel IHon Treasurer) 2024 THE LYGON ALMSHOUSES INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF THE LYGON ALMSHOUSES YEAR ENDED 31 MARCH 2024 I report lo the charity Iruslees on my examination of Ihe¥counls of the Company loilhe year ended 31 March 2024. Responslbilitles and basls ol ￿pOrt As the charity's tTuslees of the Company land also ils directors lor the pu￿OSe$ ol company lawl you are responsible forlhe prep3ratlon of Ihe accounts in ac¢ordon¢e ￿th the wul￿EntS of the Companies Ad 2006 flhé 2006 A¢i'i. HaviFLg satisfied rnyself Ihal the accounts ol the Company are not requlred Its be audited under Part 16 of I 2006 Act and are eligible for independenl examination. I report in ￿specI of my examination of yO￿[CharItY s accounts as carried oui under secllon 145 of the cha￿tieS Act 2011 fthe 2011 Acl'l. In carrying out nw examination I have followed the DI￿¢110n$ given by Ihe Ch￿tY Commisslon under section 14515llbl of the 2011 A¢1, Independent exarninerfs slalement I have completed my examination. I confim that no mallers have come lo my allenlion in connection wlh Ihe examination giving Me cBuse to believe.. 1. accounling records were not kept In respe¢l of The Translormiro Autism Project as required by section 386 ol the 2006 Act., or 2. the accounts do not accord wlh those records.. or 3. the accounts do not comply ￿1th the aGcounling requiremenls of section of the 2006 Acl other than any reqijiremenl that the accounts give a 'lnJe and fair view which is not a maller considered as part ol an independenl examination., or 4. Ihe aGGourits l)ave iitsl b¢¢i) yivpai¥d iii dbbvwd4iiLe wlth the melhods and pilnslples of thB Statement of Recommended Pr8¢1ice for accounting and reporting by Charities lappli¢able lo Charities preparing their aceounl$ In a¢¢ordance with the Fin£ncial Reporting Sland?rd appli¢able In the UK and Republic of Ireland IFRS 10211. I have no ¢oncems and have come across no other matters in connection wth thè 8xamin8llon lo thl¢h allenlion should be dra￿ in Ihis ff port in 0￿er lo enable a proper understanding of the accounts to be reached. Helen Binns FCA Chartered Accountant One Express 1 George Leigh Slreel Manchester M4 SDL Oale.. 14 October 2024 THE LYGON ALMSHOUSES STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2024 2024 2023 Unrestricted Funds Rèstricted Endowment Funds R&serv8S Total Total Note Incomo and endowments from.. Charitable activities Investments 275.251 44.502 275,251 44,502 242,012 43.589 Total In¢omo and endowments 319,753 319.753 285,601 Expondlturè on: Charilable activilies Govemance 3S4.379 4.130 450 354.829 4,130 276.754 9.523 Total expenditure 358.509 450 358,959 286,277 Income from charltable actlvitles and investments lèss 8xp&ndltur8 138,756) {4501 139,2061 16761 Nel Ilossesygains on investments 12a 9,906 62,889 72.796 150.218) Net lexpendlturel I Incom& {28.8501 14501 62,889 33.589 150,8941 Transfars b&twaen fund$ 3.084 13,0841 Ng1 movgmont In fund$ 12S,7661 {4501 69.805 33.589 150,8941 Rè¢onclllatlon ol fundB: Tolal funds brought forward 15 1,028,193 1.063.6S2 650,520 2.742.365 2,793,259 Total funds carri•d forward 15 1.002,427 1,063.202 710,325 2.775.954 2,742,365 All income and eXpendilu￿ derive from conlinuing activilies. The stalement of financial aclivilie5 includes all galns and losses re¢ognl8ed dufing the year. The financial staternénls were approved and aulhorised for issue by the board of Iruslees on September 2024 and sigiied on ils behalf by". Mrs Val Barker imianl.. Mi Charfes Noel (Hon. Treasurer).. The notes on pages 1110 22 fom p8rt of these flnancial glalemenls. THE LYGON ALMSHOUSES 8TATEf41ENT OF FINANCIAL POelTION AS AT 31 MARCH 2024 2024 2023 Note Fixed asssts Housing propertles Other fixed assets Investments 10 11 12 1,473,284 9.218 1.284.954 1.485,625 886 1.236.266 2.767.456 2,722,777 Currènt a￿+ts Debtors Cash al bank and In hand 13 3,270 20,861 8,724 64.111 24,131 72.835 Credltor8.' amounts falllng du• vAthln one y&ar 14 {15.6331 {53,2471 Not current assets 8,498 19,588 Net assets 2,775,954 2,742,355 Capltal and r•sèrv•$ Reslllcled reserves Endovment reserves Unreslri¢led Te3etves 1.063.202 710.325 1,002,427 1,063,652 650,520 1,028,193 Total charity funds 15 2,775.954 2.742,365 The financial statements were approved and aulhorised forissue by the board of Iruslee5 on September 2024 and signed on behalf of the board of Iwslees by.. al an).. Mr Charfe8 Noel (Hon. Treasuferl.. The notes on pages 1110 22 fom) p8rt of these financial stalemenls. THE LYGON ALMSHOUSES STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 MARCH 2024 2024 2023 Note Cash flow from operating a¢tiviti•$ 17 181,4241 26,750 Not cash fftow from tsp8ratsng actlvitles 181,4241 26.750 Cash flow fiom Invgstlng actlvltl•$ Purchase of tangible fixed assets Payments to acquire invèslmenls Proceeds from movernenl in inveslmenls Interest ￿ceiVed Divldends ￿e1Ve￿ {30.43S1 115,893) 40,000 541 43,961 1158.3491 120,083) 60,000 210 43,379 Nol cash flow from invèsting a¢llvitlg9 38.174 174,.8431 Nèl decreasa In ¢a$h and ¢a$h ¢quival*nts. 143,2501 148,0931 Cash and cash equlval8nts at 1 Aprti 64.111 112,204 Cash and cash equlvalents at 31 March 20.861 64,fj11 Cash and cash equlvalants conslsts of.. Cash al bank and in hand 20.861 64,111 Cash and ¢ash 8qulvalents at 31 Mar¢h 20,861 64,111 The note= on p4)gcts 11 to 22 form part of Ihcse flnan¢lal statcmcnts. THE LYGON ALMSHOUSES NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 IIJARCH 2024 Legal Form The Lygon Almshouses 1$ a charity registered in Er¥Jland wlh the ChaTrty Commtssion. Ils registered oflK% i% 313 Fulham Palace Road, London, SVV6 6TH, PRINCIPAL ACCOUNTING POLICIES Ba81$ of accounting Tlie fiiiaiiGial slaleiiieiils liave been p￿pared undei 11)e hisloriGa1 Gosl coiivention ac¢ru6ls basis. They have been prepared in accordance wlh the Statement of Recommended Practice.. Accounting and Reporting by Charities ISORP 20191 and applicable accounting standards and the Charilies Act 2011. The charily constilules a public benefit enlily as defined by FRS 102. The financial $lalemenls have been prepared in accordancewlh Accounting and Reporting by Charities.. Stalernenl of Recommended Practice applicable to eh8ritiès prèparing their aecounts in accordancts wlh the Financial Reporting Standard applicable in the UK arKI Republic of Ireland IFRS 1021 issued on Oclobe¥ 2019, Charili¢s Act 2011. Ihe Housing and Regeneration Ac12008. the Accounting Direction for private registered provideis of soc housing in EThJland 2022 and UK Generally Accepted Prdclice. Incomlng resourcosllncomg reco9nltlon All incomlng ￿SoUrceS are Included In the Slalemenl of Financlol Aclivlties ISOFAI when the charity is legally enlllled lo the Income aflerany perfomiance condlllon8 havebeen mel, Ihe amount can b& measijred reliably and il is probable thai Ihe Income will be re¢eived. Outyoing rosourcgs 18xpèndlturo1 Liabilities are ie¢ogni5ed as resources expended as soon as Ihere is a legal or ¢onslw¢live obligati)n ¢ommilling the charity lo the expenditure. All expendilure is a¢¢ounled foron 8n a¢cwals basis and has been clas8ilied under the headirvjs Ihal aggtegale all costs related lo the category. Costs of charitable activities include all costs rel&tirsg lo the mair)lenance of the I￿V$ing propertl&S 89 wèll as the support and welfare of the residents. Govemance ¢osl$ iftclude the ¢osl ol govemance arrangements Tthich ￿pale lo the general ftN)ning of I charily. Support Go$ls are those that assist Ihe WO￿ of the ¢harily bul do not directly represent charilable aclivilie5 and incluile office costs, govefflance ¢0818, and adminislralive payroll costs. Funds GÈnÈral funds are unrestricled furKJs which are available for uge al the discretion ol the Inislees in furtherance of the general objectives of Ihecharily and thich have not been designated lorolherpurposes. Designated funds compiise unreslricled funds that have been sel aside by tho Iiuslees Igr patlirular purposes. The aim and use of each designated fund is sel out in the notes lo the financial 51alemenl¥. R081rict8d fundsam fundS￿leh arè tobè used In a¢¢ord8ncé wlh sp8cilic réstrictions imposed by dono or which have been raised by the charity lor partlcular purposes. The cost of raising and adminisler%ng such funds are charged against the specific fund. The alm and use of each reslricled fund is sel out in the notes lo the financial $talemenls. THE LYGON ALMSHOUSES NOTES TO THE FINANCIAL STATEMENTS FOR THÉ YEAR ENDED 31 PJJARCH 2024 PRINCIPAL ACCOUNTING POLICIES (conllnue(l) Fund$ Icont]nuod) Endowrenl fvnds represenl those assets vthich musl be held pem)anenlly by the charity, principal inveslmenls. Income arising tsn the endosbmenl fund5 can be used in accordance wlh the objects of the ¢harily and is included as unreslricled income. Any capilal gains or losses arising on the inve51menls fotm part of the fund. Investmenl management charg8s and legal advice welaling lo the fund are charged against the fund. Inveslment income and g8ins are alloc8t8d to thè appropTialo fund. Taxatlon The Charity has charilable stalus vAlh HM Revenue and Cu$l¢ms and 1$ exempl from UK18x on Ils primary purpose trading income and investment incom¢. Tanglblè Ilx•d 888•ts Tangible lixed assets are stated al cost lor deemed costl less a¢¢umulaled depr¢¢iallon a¢¢umulaled Impalrmenl losse5. Cost includes cosls directly allributable lo maklng the a$$el Capabl? of operating as intended. Depwialion 18 provlded on all tangible flxed ass￿8, at rales calculated to Swbte off the c05t, less estimal8J residual value, of each asset on a systematic basis over ils expected usolvl life 8$ follows.. FÈxlure$, fittings and equipment Fre*hold buildings P￿PertY improvements 5 years 100 years 5- 20 years 30 years Inv&$lment$ Inveslmenls are recognised initially al falrvaluts thich 1$ nomally the Iransaclion prtce excluding Ir8n8a¢llon costs. Subsequently, they ar6 measured al fair value wlh changes feeognised in 'nel gains l Oossesl on inveslni8nls' tn th9 SOFA if the $h8res are publicly traded or Iheir fair value can otherwse be measured reliably. Other inve8lmenls are measured al cosl less impaimient. Debtors Amounts re¢eivatr)ie (or paitt In aijvancel at the end ol Ihe periofj are InGluded In the accounls under det$to￿. These include invoi¢ed service and prepaid expendilure. Llabllltl•s Amounls payable at the end of the periL)d are included in the accoun18 under amounts payable Nvilhin 01 alter onè yèar as appmpriale. This includes an70unts due to suppliers and accrued expenditure Idue bul ntsl invoicedl. Improv8mgnts to propgrt10s The chatily capilalises expendiluie on housing p￿pertIeS ¥thich adds lo the value of th&property orexlends ils useful life. lrnprovements lo property that relate lo assets that have a separately identifiable life 1¢> Ihe p￿pertY concemed are also ¢apilali$¢d bul UJKler a category separate from the property. 10 THE LYGON ALMSHOUSES NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 3q MARCH 2024 PRINCIPAL ACCOUNTING POLICIES (contlnued) Provl8lon$ Provisions afe recognised when the charity has an obligation al the balance sheet ijale as a result of a pa$1 event, il is probable Ihal an oulllowol ￿OnOMiC benefits wll be required in selllemenl and the smL)unl can be Teliably eslimaled. OoiFI9 coiictsrii The fin8ncial s18lemenls have been prepared on a going concerft basis as Ihe trustees believe that no material uncertainties exist. The Iw$lees have considered the level ol funds held and the expected level of income and expenditure for 12 months from authorising these linancial slalemenl$. ThÈ budgÈtèd income and èxpenditure Is sulfici8nl wilh the 18vel of r6seN8S for Ihè chaTrly lo be able lo continue as a goirYJ concem, Judgamonts and key sourcgs of ostlmatton unc8rtalnty The P￿paratIOn of the financial slalernenls requires management lo make judg&menls, estimates and assumptions that affect the amounts reported foras$ets and liabilities as al the balance sheet date and the amounts reported for revenues and expenses during the year. However, the naluio 91 eslimalion means that actual outcomes could differ from those eslimales. The follo￿￿ng judgements lapart f￿M those Involving eslimalg$1 have had an eff¢¢l on amounts r¢¢ognSsed Sn the fInar￿la1 staternenls.. Tarngible fixed assets are depreclaled over Ihtrir useful lives taking Into account rèsidual values, ￿ere appropriate. The actual lives of the a55ets and re5idval values are 8$se$sed 8nnua11y and may vary depending on a number ol factors. In re-assessing asset lives, lacltsrs such as technological innovation, product Ille cycles and maintenance programmes are taken into acco￿1. Re8idual value as$es$menls consldÉr issuès such as future mart(8t conditions. the remaining life ol the asset and projected disposa values. Resèrves Extraordinary repairs The Scheme requires the Trustees 10 Sel aside a sum of not less than £900 e8ch year fr)rthe purpose ol providing for extra-ordinary repairs. improvernents. and rebuilding of the Alm8hou8e belonging to the charity. The Trustees have designated appropriate reserves. Designated res&￿e5 The charity designales reserves Ihal are not I￿elY available lor genetal use blrt which are part of ils accumulated income.. A Arthur designalion represents a legacy ￿ceiVed in 1992193 plus further leg8¢i9s woived in 2012113, 2018119 & 2021122. The Trustees are not aware of any reslriclions on the use of the legacies but havè n6verth&lèss detemiined they should be used lor Ihe benefit of Ihe ie5idenls. Designations lor cyclical mainlenan¢e and exlr8ordlnary repalfs are pxplained in the respective accour*ling policies sel out above. Endowment fund Endowment fund designation represents the original inve51menl In th? charity logethef wlh subsequent surpluses and deli¢lts allribulable lo Ihal inveslmenl. Restrlcted Funds Reslricled funds represent the social housing grant plus a donation of £9.000 received in 2019 Yknich was applied lo the cost of improvernenls lo the pathways and is depreciated as sel oul Èn note 16. 11 THE LYGON ALMSHOUSES NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 PIIARGM 2024 PRINCIPAL ACCOUNTING POLICIES (conllnuedj Flnanclal Instrumants Financial instnjments such as loans, accounts payables, aocounlg réceivable8 and ¢88h are classlfled either as basic or complex. All firsanclal inslwmenl8 are inltially measured al their fair values al Ihe lime the Ir8nsa¢lions occur. Subsequently all basic instruments are measured al amortised cost and all complex Ilnancial instruments are measured at a fair value through the comprehenslve Income. Firpan¢ial ilislrumenls held by the Charily are Gla$sifi¢d 05 follows. .Cash is held at cosi .Fixed asset investments are held at lair value .Other FiTrancial assets such as ￿CeIVable$ are ¢la$$ilied 85 loans and receivables and held at amortis cost using the elfe¢live interest method, *Fln8n¢ial liabilities are held at amortised cost using the eflecllve inleresl method. 12 THE LYGON ALMSHOUSES NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 Incom8 from charltablg a¢tsvlllgS 2024 2023 Maintenance eontribthions Guest rooms Sir William Powell managemenl incom8 Laundry S other in¢ome 241,696 3,745 21.787 8,023 212.516 4.290 16,990 8,216 275.251 242,012 Void IDSS8S (being rentsl in¢ome lost as a result of property not being let, although available for IBllingl 12,080 12.238 Incom8 from Invgstments 2024 2023 DisltFbLrtions received fiom the Endovment FutKI Distributions received from Ihe Aichie Arthur Fund Dislribulions received from the General Fund Dislribtrtions reinve51ed in Ihe Extraordinary RepaiT Fund Bank deposit inteTe$t 19,541 4,184 4.343 15.893 541 19.541 3,75S 20,083 210 44,502 43,589 13 THE LYGON ALMSHOUSES NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 Analys1$ of re8ourco8 exp&nd6d Stsff Costs Other Direct Costs other Allo¢at•d Costs Total 2024 Tolal 2023 .Charltablfr acllvltl8$ Clerk and admin Insurance Le al & rolessiorsal fees Bank char es Slalione & sundries CaleriA & entertainment Oe recialio Warden Ulililies & COLsncil lax Cleanin and Gardenin ment hrtaintenance Routine Mainlen8nce Wllte off ol arrears 42,166 42,166 10,136 11,064 480 1,571 35.689 6,930 9,288 478 2,558 1.904 30,955 18.496 10,136 11.064 480 3,109 34.444 19.8YO 43,998 5.780 21.720 139,964 18.027 23,807 21,720 39 964 2,SOO 354,829 26,359 22,802 82,384 191 276,754 80,063 274,766 Total restricted resources èxpended a131 March 2024 lolalltrd £45012023.. £4501 Governance 2024 2023 Accounting lees lin¢ludlng VAT) 4,130 9.523 4,130 9,523 Net In¢ome I lexpendlturel lor thè yeor endSng 31 March 2024 Nel itKome I (expenditu￿) is stated afler charging I Icrediling).. 2024 2023 Depreciation of tangible ftxed assets 34.444 30,955 Loss I Igainl on fair value movement ol investments 172,7951 50,218 14 THE LYGON ALMSHOUSES NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 Reporting accountant's ramungrntlon Amounts payable lo Independent Examiner (excluding VATJ.. 2024 2023 Independenl examinalion of accounts12D23= A￿111) Olhèr finaneial serviGe$ - payroll 2,500 942 7.000 936 Trustees. and kgy managgment personnel remuneratlon and exp&n$è$ The key management personnel are the Trustees, TFuslees neither received nor waived any remuneration during the year12023- £Nill. Trustees expenses were nil tho year lo 31 March 202412023.. staff costs and fjmploy￿ b*nofits The average monlhly number ol employeÈs and fulllimè èqtJiva1ent {FTEI (based on a 40 hour weekl during Ihe year ending 31 March 2024 was as follows.. 2024 Numbèr 2024 FTE 2023 Number 2023 FTE Charitable acllvilies The lolal siaff costs and employee benefits as follows.. 2024 2023 Wages and salaries So¢ial security Pension cosls Training and other 77.351 344 2.053 315 71,600 1.889 188 80,083 73,677 No employee rec&ved total employe8 benelils of mrjre than £60.00012023.. None). 15 THE LYGON ALMSHOUSES NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDELI 31 MARCH 202 10 Housing propertl88 L8nd Houslng Pro rtie$ PrO￿ty rovements Totsl Co81 A11A ri12023 Additions 920,000 308,370 492.677 Al 31 March 2024 308.370 512,171 1 740 541 D8 181ion'. A11A ri12023 Char e for the ear Al 31 March 2024 101,764 3,084 104,848 133.658 28,751 162,409 235,422 31,835 267,257 Nel boDk valuè.. At 31 March 2024 920,000 203.622 349,762 1,473,284 Al 31 Mar¢h 2023 920,000 206.606 359 019 1,485,625 Thè nèl boc*k value of land and buildin9s comprise of freehold Pfoperty. 11 0th9r fixgd assgts Flxluro5. Flttlng8 and Equlpment Housln Flxtures. Fittings and Equlpmont Office Totsl Cosl At1A ri12023 Additions 42,165 16,2>8 10,941 58,463 10,941 05al Al 31 March 2024 42,185 69,404 Oe recialion.. At1A ri12023 Char e for the Dis osal 42,165 15,412 2.609 57,577 2.609 ear Al 31 March 2024 42,165 18,021 60,186 Nel book value.. At 31 March 2024 9,218 At 31 March 2023 886 886 16 THE LYGON ALMSHOUSES NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 124 Invtrstments Markèt Valu• Pomianent Endowment Fund Unr•strlct•d FLFnds Total Fund,. Extraordinary Archlo Repair Arthur Gfrnèral Fund As al 1 Apiil 2022 Revaluations Income r8-Invesled Disposal$ As at 1 April 2023 Revaluations Disposals In¢ome Re-invesle(I A8 at 31 March 2024 673,696 133.S891 554.121 {13,8821 20,083 160,0001 SOO,322 7.267 1154. 122) 15,893 369.360 98.584 12,7471 1,326.401 150,2181 20,083 60,OODI 1,236,266 72,795 140,0001 15,893 116,055 1,284,954 640.107 62,889 96,837 1.706 933 114.122 702.996 97.543 The historical cosl of listed investments held as al 31 March 2024 is £1.081,62712023'. £1.081,6271. 17 THE LYGON ALMSHOUSES NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCtrF 2024 12b Invgstmonts Cost Market Volu¢ 2023 2023 2024 2024 PERMANENT ENtX)WMENT FUND COIF Charities Elhical Investment ust - 226,955.92 income unils 582.027 582,027 640,107 702,996 EXTRAORDINARY REPAIR FUND National Associalicn of Almshouse$ Common Investment Fund 2023.. 4,646.926 8c¢umulalion unils 2024.. 3,222.811 accumulation units 427,974 312,708 500,322 3S9,360 ARCHIE ARTHUR FUNO Nalional Associalion of Almshouses Common Invoslmenl Fund 107.296.013 income uni18 71,626 71,626 95,837 97,543 TOTAL INVESTMENTS 13 Dgblors 2024 2023 Affears of weekly mainlenance charges Provislon lor doubtful deb18 P￿paYMentS 3,850 13,SOO) 2,920 2,459 11,0001 7,265 3,270 8,724 All debtors aro duo ￿tAIn one year. 18 THE LYGON ALMSHOUSES NOTES TO THE FINANCIAL STATEMENTS POR THE YEAR ENDED 31 MARCH 2024 14 Creditors., amounts falling due wlthin one year 2024 2023 Trade credilofs AGcwed expenses Weekly mainteriance charges paid in advan¢ other eredltors 1,429 12,390 36,279 15,286 157 1.525 1.814 15,633 53.247 15 Fund recon¢lllatlon Balance al $￿TPlUs{ InlerÈst& Inv•$tm•nt Income Dgpio¢b IweAlm&nt tlon galns Tiansfèrto Cy¢li¢al ialnlenancÈ 31 March 2024 zozJ Extraoydln ary Res•rv• FUT A Arfhur le9ac Cycucal m8inier*aTi¢e 9S.836 1.708 97,542 1.633 168 5.QOO 6,B21 Exlraordinary PÈI A￿Um￿lated $u￿1v$ Ufjr¢51(￿td ¥eserves 500.323 15.693 7.287 430.401 (39.2071 3.534 933 15,0001 154.122 528,702 1.028.193 139.2071 9.534 9,906 1,OU2,426 Re51fjcted ftsnds I,Q63.652 1.063.202 Permanenl Endowxèni 650.S20 (3,0841 62.B89 710,325 Total 2 742 36£ 2 Y7S 933 Extraordinary repairs and lh6 Archiè Arthur lagacy are rèpwsenle(f by fiKed 8S5et inV05trnonts as disclosed ift the investmenl note. The pemian8ril endowment re$8rve represents the cost of housing propertses less the d8pre¢iabJn charge plus thè book v81ue of inveytrnents including suipluses 8ncS deficits arising from Ihe revalu2tiDn of those Invesbnenls. Th6Cyclic8lmaintenar￿e r65erv8 ￿SCash backed bya separ8lelyde$ignal8dbankaw)unl Restricted futxls present the social housing grani, £1.056.452. plus a donaboTr from 2019 of £g.ODO which was 2pplied to hou5¥ improvements and is depreciated Dvei 20 yeats, rEètbGok value £7,200. 19 THE LYGON ALMSHOUSES NOTES TO THE FINANCIAL STATENJENTS FOR THE YEAR ENDED 31 MARGH 2024 16 Analy$i8 of nBI assets befv4een funds Unrèstricted funds Endow7nent Reslrlcled funds funds Total 2024 Fixed assets Cash And evrrénl a$#•t$ Currenl li8bilille$ 993,929 28.621 115,290) 710,325 1,OS3,202 2,767,45fj 26.631 (15,2901 Total 1.00S,270 710,325 1,063,202 2,778,797 17 Reconciliation of nèt Incom8 11gxpendltsJrg1 to net ¢a8h flow from opèrating activities 2024 2023 Nel lexpendilurel l income for year 33.589 150,8941 Dlvidends re¢elved Interest receivable Deprecialit>n and impairment of tangible fixed assets Losses I Igainsl on investments Deere8se I Iln¢re8$el In deblors Increase I Idecreasel in credilors (43,9611 15411 34,444 172,7951 6,464 137,6141 143,3791 1210} 30,955 50,218 3,42S 36,635 Net ¢ash Ilow from operatlng *ctSvltles {81.4241 26,750 18 Rgloted party tran8actlon5 SIT William Powell's Almshouses is a related party as thè two ¢harille$ had 2 InJ$lèe$ In c(>mmon." CouncilloT Adronie Alford Rev. Penny Seabrook Duriny the year the Lygtsn Almshouses provided management servl¢e$ lo Slrwlliam Powell'$ Alm$houses forwhich il charged a fee of £21,787 12023.. È1E.9901. Th¢r¢ wo¥ a b?1gn¢¢ ¢ul$tondin9 at thg ¢nd of ¢hi> year £487 P023.' £nill. 19 capitsl Commltments 2024 2023 Capital expenditur¢ contracted for and not proviijed for in the accounts 20 THE LYGON ALMSHOUSES NOTES TO THE FINANCIAL STATEMENTS FQR THE YEAR ENDED 31 MARCH IQ14 20 Flnanclal Instruments The carying amounts of the charity'8 linancial InstnJTn8nls 8re as follows.. 2024 2023 Flnanclal assets Measured al fair value through nel In¢ome l expenLlllure'. Fixed asset listed inveglmenl$ {ntsle 131 1,284,954 1,236.266 Measured al cost Cash al bank and in hand 20,861 64,111 Measured at aMOrtisÈd ctssl.. Tr8de and other debtors {note 14 ex¢1 prepaymenlsl Totsl Flnancial Assots 3,850 1,309,865 2,459 1,302,836 Flnanclal li8bilities Measured al amortised ¢r)&t Trade and othèr eTedilors Inole 151 Total Flnanelal Llabllltle8 15,290 15,290 53,247 53,247 21 Not Funds An9￿$1$ of ehareéÈ in Ttel ftJnds-. Al 1 April 2023 Cash Flows Nofycayh Movements Al 31 March 2024 Cash and cash 8quival&nl$ Housing 1o8n$ duè in one year Housing loans due alter one year 64.111 143,2501 20,861 64,111 {43,2501 20.861 22 Oparating L&a888 There ere ￿ operating leases held as al 31 March 2024 (2023.. none) 21 THE LYGON ALMSHOUSES NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENOED 31 MARCH 2024 23 Accommodatlon in Management 2024 2023 Supported housing and hgusing lor older peoplè 40 40 There weie no additions or disposals to unils durirTrg Ihe year P023.. none). 22