THE LYGON ALMSHOUSES THE LYGON ALMSHOUSES FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 Registered Charity Number." 208562 Registered Provider Number.. A0646
THE LYGON ALMSHOUSES Contents Page Legal and Administrative Details Report ol the Trustees Independenl Examinerfs Report Statement ol Financial Activities Stalemenl ol Financial Positn Statement of Cash Flows Notes lo Ihe Financl81 Stalemen15 24 9-20
THE LYGON ALMSHOUSES LEGAL AND ADMINISTRATIVE DETAILS FOR THE YEAR ENDED 31 MARCH 2025 Chalr Mrs Val Barker resigned 12 Nov 2024 Mr Christopher Hancock - appointed 5 Jun 2024 Inlenm Chair 6 Dec 2024 16 Jan 2025 Mr David Morris - reappointed 20 May 2022 hleiim Chair 16 Jan 2025 - 18 Feb 2025 The Rev Peter Dobson - appointed 4 Dec 2024 Chair from 18 Feb 2025 Cllr, Adronie Allord resigned 2 Dec 2024 Mrs Janet Harris appointed 22 Wv 2023 Inlerim Vice chair 6 Dec 2024 18 Fob 2025 Mr Christopher Hancock appointed 5 Jun 2024 Vice chair from18 Feb 2025 r Charfes Noel - Te•appoinl8d 12 Apr 2023 Ihe Bishop of London - appointed 8 Mar 2018 The Rev Ross Gunderson - appoinled 18 Jul 2018 Mrs cla Khalil resigned 7 Apr 2025 Cllr. Arnand8 Lloyd-Harris resigned 8 Apr 2025 Cllr. Ann Rosènberg reslgned 4 June 2024 Mrs Sue Lilton- appoin18d 22 Nov 2023 Mrs Sue Dixon- appoinled 6 Jun 2024 Mr Alis18ir Rae - appointed 12 May 2025 Vl¢è<halr Hon Tmasur•r other Truste¢8 Cl•rk to the Trustegs Mrs Rogalie Ma¢l8rtane As#l•tsnt Cl•rk to the Tru¥two Mrs Kalle AreTrJo-Jones R•gistsr•d Offlce 313 .321 Fulham Palace Road London SW6 6Tr1 Bank•r$ Nalional Westminster Bank PIC 45 Fulh8m Broadway Lolon SW6 IAG Sollcllors Lee Bolton Monier Williams 1 The S8ncluary London SW1P 3JT Accountants Beever and Slrulhers Chartered Ac¢ounlanls One Expre5S 1 Grge Leigh Street Manchester M4 5DL Statutory reglstrallons Regislered Charity Number.. 206562 Registered Provider Number.. A0646 Governlng Document Schème daled 15 March 1977
THE LYGON ALMSHOUSES REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2025 The Tru51ees prosent their annual report and account5 lor Ihe year ended 31 March 2025. Prlncipal activity The principal aclivily ol the charity conlinues lo be the provlsionof sheltered housing lorlhe peop ol Fulham in a 40 flat alm5hoLJse al 313 321 Fulham Pal¥ce Road. 2. Governan¢e The Lygon AIMSSeS are governed by the scheme dated 15th March 1977 whlch provlded for sixteen Trustees.. three exlfi¢l0, six nominated by the local authority and seven co-opted by th8 board ol Truste85 and appointed al 8 special meeting at which all Tnjstees have the opportunty to vote, On 5 June 2024 the Truslees voted to inC35e Ihe number of co-opted Trusteès to 10, providing for a total of 19. As laid down in our scheme, co-opted Trustees "Should be p8rsons who through residen¢8, occupalion or ernployment or olherw5e have special knowladge of the area of the former melropolil3n borouoh ol Fulharn. They are coopted lor the special skills they can oll lo th8 charity. All Truslees are invited to visit the Almshouses. Th8y are sent 8 copy ol the scheme. a copy of Almshouse Association's guide to managing an almshouse charily and copies of minutes. ccounls and polici8s adopted by the Trustees over Ihe course ol lime. Trustee5 can also 81tend the Almshousa Associaiion's Iraining day5 l¢r clerks 8nd Truslees11 they wish. Achltvements and performanc• The Almshouse had on8 vacancy at the end ol the year which has sinco been filled. The c051 of voids was £657 lor the financial yèar12024.. £12,080). During the year the Chubb Careline wa5 upgraded and th8 CCTV coverage expanded. Tha lob entry system was replaced. Ilre door5 were replaced lo meet current regulations and lire tralnlng provlded lor $18ff and residents. A quinquennial review of the buildlng was carried out lo identify maintenance work vthich will be rÈquired in the next S years. A summer garden party wos held lor residents in June. FlnJnelal r•vi•w Charil8ble aclivilies showed a dalicil 01 £25,238 12024.. £39.206 dellclll. Increases In legal & professional lees and depreciation charge5 ex¢eeded increa5e5 in weekly maintenance contributions and other income, There was a nel loss on Investments of £13.54012024.' £72,795 gain), giving a nel delicil for the year of £38,77812024'. £33,589 sulUSI. 5. Plans for future perlods Prevenlallve maintenance idenlified in the quinquenni81 rovi8w is being priorilised and a repair programm8 put in place. Public benefit All charities are required lo include in the annual report of th8 TFUSte8s a report of activili undértaken by the charity to further ils charitable purposes lorlhè public benefit. This qUirernenI is met by Ihe principal activity 51alemenl above. During the year ended 31 March 2025 weekly m8inlenance charge lor residents averaged £132.3212024'. £122.01>. Trustees confirm they have Complied with the duly in sèclion 17 01 the Chadlies Act 2011 to have due regard lo public benefit guidance published by the Charities Commission. THE LYGON ALMSHOUSES
REPORT OF THE TRUSTEES (continuerl) FOR THE YEAR ENDED 31 MARCH 2025 Events after the year-end There have been no events alter the year*nd which will impact accounls. ReserNe$ and Investments The Almshouses hold reseroes lo meel lulure liabililies and lo generate income to support the charitable aclivilies. These are backed by investments and are held for the long term. Their performance is Tegularly reviewed by the Trustees. The Trusletrs are satisfied that sufficiu provision has been made irn the Extraordinary Repair Fund IERFI and Cyclical Maintenance Fund ICMFI for future neèds. The total ol the rtsserves held is £2,737,17512024.' £2.775,9541. 9. Statèment of Trustee8' responslbllltles The trusteès A responsible lor prepan9 the Trustèès Annual Report and the linanciBI stalemenls in accordance wlh applic8ble Iw and Unitèd Kingdom Accounting Standards Iuniled Kingdom Gènarally Accepted Accountlng Practicel. The law applicable to charities requires the Trustèes lo prepare flnancial slal8menls for each financial year which give a true and laif view ol the slalè ol allairs of th8 charity and ol the incomir¢J rèsources and application ol resources ol Ihe chanly lor that period. kn preparing these accounts the Trustees are required lo'.- Selecl suitable 8e¢ounting policies and then Bpply them conslst8ntly', Observe th9 methods and principle5 01 the Charitie3 SORP., Make judgemtsnls and eslimales that are reasonable and prudent., Slate whether applicable accounting standards have been follow8d, subject to any material departures di3¢1058d and explained in the financial s18t8ments,' Prepare th$ accounts on the going concem basi$ unless il Is in8ppropriale to pre$um• Ihat the chamty wll continua In oper8tion. The Trustees ats responsible lor keeplng proper accounting tscords that disclosèwith asonable accuracy al any time Ihe linancial positlonof thechadty and enable them lo ensure that the finsncial st8lement8 comply with Ihe Charities Act 2011. the Ch8rities (Accounts and Reports l Regulations. nd the provisions ol Ihe Irust deed. Th9y are also responsible forsaleguardiffj the assets of the harily and hence lor taklng reasonable steps forthe prevention and deleclion of fraud and other Irregularitles. The INstS aro responsible for Ihe rnainlenanct and Integrity of thè charfly and financial inf¢mialion included on the charity s wobslte in 8ceordance with legislation in the Unlled Klngdorn goveming the preparallon and dis$em1nalion of Ilnancial slatoments. 10. Value lor monèy The Trustees are mindlulol tho need lo obtain value Iofmoney in all transaction5 enl•red into on beh8tt of the aharity. In respecl tsl the major Works to be undèrtaken a competitive lendar Involving three polanlial contractors is carried out. The gUlatOr ha5 issued value for money metrics lo ensure performance to be measured consislenty for each Registered Provider, We have adopted these which are reported below.. THE LYGON ALMSHOUSES REPORT OF THE TRUSTEES fconlinued) FOR THE YEAR ENDED 31 MARCH 2025
Indicator Reinvestment in development and 5.08Y. capital works as a Q/¢ of book vakE ol property New supply delivered (Social housing units) New supply delivered INon-so¢ial housing units Gearing Interest cover including capitalised repairs IEBrrDA-MRII Social housing cost per unil 2025 2024 1.32°1. Commentary Window winder, front door control, reconfigue plant room, fire protection works No additional units No loans are held £10.459 Increased capital works - see above Operating margin (Social housing 1etling_sl Operatlllg margin loveralll Retum on capital employed -26.66¥. r-29.43° -26.66°/. -29.43¥0 -3.06°/ -2.9 jQ/ Disclosure of infomation to the reporting accountsnts We, who held olficeatthe date of approval of these Financial Slalements as setout abov8each conlinn so far as we are aware. that.. there is no relevant infomiation of which the independent examiners ar8 unaware.. and we have taken all the step5 that we ou9ht to have taken as members of the Board in order to rnake ourselves aware ol any relevant inlormalion and to establish that the independenl examiners are aware of that information. Signed by order of the Trustees.. Rev Peter Dobson (Chaimanl 15 1 7 12025 Ch8rfes Noel (Hon TreaSurI IS/ ? / 2025
THE LYGON ALMSHOUSES INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF THE LYGON ALMSHOUSES YIAR ENDED 31 MARCH 2025 I reptsrt to Ihe eharily Irusloos on my eKaminÉl1ion ul Ilie 3ccuuiils of the Charily for the year ended 31 M<tr¢h 2025. Respon55bilities and basi5 of report As Ilie chanly's Iruslees, you are responsible lor the preparation ol th8 accounts in accordance wlh Ihe reqiiiremenls ol the Charities Ar.12U11 ('Ihe Aci"). I rèport In r65pecl of my examination of the Trust's accounts carried oijl under 5eclton 145 of the 2011 Act ard in carrying out my examination. I have followed all the applicable Directions given by Ihe Charily Cornmissi under section 14515llbl ol the Act. Independent examlnÈr'$ ststement I have cornpleied my examination. I confirm Ihal no matters have come lo my allenlion in connection the 8xaminalion giving me cause lo believe. 1. a¢counling records weF. noi kept in in accordance with section 130 of Ihe Charities A¢t,' or 2. the a¢¢ounls do Mt accord with Ihose records., or 3. Ihe 8GGounls do not cotnply with the accounting requiremenls of 5e¢iion 396 of the 2006 Acl other than any requirernEnl that Ihe accounts oive a 'lwe and f8ir Vie which is noi a maller considered as part of an ind8pendÉni examination, or 4. the accounts did nol cornplymrylh the applicable requirements conceffling the form and conienl of acco*S sel out in Ihe Charilies IAccounls and Reports) Regulation$ 2008 olherthan any requ1ment that the a¢¢ounls give a 'lrue and fairf view which is not a matier consider1 as pari of an Independeni examinatitsn. I have no concerns and have come across no olher mallers in connection th the examination lo which allenlion shoukl be drawn in Ihis report in order lo enable a proper understanding of Ihe acctsun15 10 be reached. Helen Binns FCA chart?d Accountant One EXpsS 1 George Lelgh Slreel Manchèster M4 SDL D81e' l-:i..l.i.e.]..1(,:.'2.:,
STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2025 2025 2024 Unr•stricled Funds R•strictsd Endowment Funds Reserves Total Total Note Income and endowmtnts from: Donations and legaclos Charitable 8¢livilies Inveslmenls 775 318.751 43,102 775 318,751 43. 102 275,2 44.502 Total income and •ndowments 362,628 362,628 319,753 Expenditure on.. Charilable 8clivitl8S GovernarKe 383,240 4.176 450 383.690 4,176 354,829 4,130 Total expenditur• 387.416 450 387.866 3S8,959 Income from charltable activitlès and investm•nts less expenditurè 124,7881 14501 125,2381 139,2061 Net Ilossesygabng on inv8slmenls 138 16,282 129,822) 113,5401 72.795 Net lexptrndlturel I Incomè 18,506) 14501 29.8221 138.7781 33,589 Transfers batsveen lunds 3,084 3,064 Net movèment in funds 15,4221 1450 132,9061 138,7781 33,589 Reconclllatlon of funds.. Total funds brought lorward 16 1,002,427 1,063,202 710,325 2,775,954 2,742,365 Total funds carrled forward 16 997,004 1,062,752 677,419 2,737,175 2,775,954 All income and expenditure derive from continuing aclivilies. The slalgmenl of financial activities includes all gains and losses recognised during the year. The financial statements ware approved and aulh0ri5ed lor issue by the board of Iruslees on and signed on il eh811 by". Rev obson Ichairnanl.. Mr Chades Noel (Hon. TaSUrer1.. The notes on pages 9 10 20 fomi part ol these financial s18lements.
THE LYGON ALMSHOUSES STATEMENT OF FINANCIAL POSITION AS AT 31 MARCH 2025 2025 2024 Note Flxed a55e15 Housing properties Other fixed a5se15 Investments 1,514,060 22,600 1.177,113 1,473,284 9,218 1.284,954 12 13 2.713,773 2,767,456 Currènt 4$$0ts Debtors Cash al bank and in hond 14 6.300 47,830 3,270 20.861 54.130 24,131 Crltors. amounts falllng due wlthln onè year 15 130,7281 115,6331 Nèt current assets 23,402 8,498 N•t asséts 2,737,175 2.775,954 Capltal and Reslricled reserves Endowment r6$8rvès Unreslricled reserves 1.062,752 677,419 997,004 1.063,202 710,325 1,002,427 Total charlty funds 16 2,737,175 2,775,954 The financial slalements were approved and aulhorised lor Issue by the board of Iruslees on signed on behalf ol th board of Iruslees by,, and RevP er Dobson ICh8lm8nl'. Mr Charte5 Noel (Hon. Treasurer).. The notes on pages 9 10 20 lorm part of these financial statements.
THE LYGON ALMSHOUSES STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 MARCH 2025 2025 2024 Note Cash flow from operating activitie5 18 113,8261 181.4241 Nèt cash flow from operating activities 113,826 181,4241 Cash flow from investlng actlvltles Purchase of tangible fixed assets Paymenls to acquire inveslm8nts Proceeds frL)m movement in inveslmenls Interest received Div*Yends received 96.607) 115,6991 110,000 830 42,271 130.4351 115,8931 40,000 541 43,961 Net cash flow from Investing aetlvllies 40,795 38.174 N8t decrea in cash and cash equival•nts. 26,969 143,250 Cash and cash equlvalents at 1 Aprll 20,861 64.111 Cash and cash equivalents at 31 Mah 47.830 20,861 Cash and cash equlvalents conslsts of.. Cash 81 bank and in hand 47,830 20.881 Cash and cash equlvalents ot 31 March 47,830 20,861 The notes on pages 9 10 20 lomi part ol these financial slalements.
THE LYGON ALMSHOUSES NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 Legal Form The Lygon Almshouses is a charily registered in England with the Charity Commission. tts registered ollre 313 Fulham Palace Road, London, SW6 6TH. I. PRINCIPAL ACCOUNTING POLICIES Basis of accounting The financial 518lernenls have been prep8red under the hi51ori¢al cost convention on an accruals basis. They have bÈ6n prepar8d In accordsnee wth the Statement ol Recornmended Practice.. Accounting and Reporting by Charities ISORP 20191 and applicable accounting sl8fKlards and thè Charities Act 2011. The charity constilules a public benefit entity as defined by FRS 102. The financial slalements have bèen prepared in accordancewilh Accounting and Reporting by Charities. Slalement of Re¢ommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in Ihe UK and Republic ol Ireland IFRS 1021 Issu8d on October 2019, the Charities Act 2011, the Housing and Regeneration Act 2008, the Accounting Direction for pnvate registered providers of soc housing in En9land 2022 UK Gen&ra11y Accepted Practice. IncomSng resourcèsllneome rècognStlon All incoming resources are included in the Slaternent of Financial Activities IS OFAI when the charity is legally entitled to the income afterany performance conditions have be8n m81, the amount can bè measured reliably and it is probable that the income will be received. Outgoing resources lexpenditurel abilities are recognised as resources expended as soon as the is a legal or constwtive obligati)n commilling the charily to the expenditure. All expeThJiture is accounted for on an accnjals basis and has been classified under the headings that aggregate all costs related to the oalegory. Costs of charitable activities include all costs relating lo the maintenance of the housing properties as well as the support and weff are of the residents. Governance Costs include the cost ol govemance arrangements which relate to the general running of tIE ch8rity. Support costs are those that assist the work ol the charity bul do not dI¢11Y represenl charitable 8Ctivili aTh1 includ8 officè costs, govern8? ¢osls, atyl adminislr8live payroll costs. Funds General funds are unre51riGled funds which are available for use al the discrelion of the trustees in furtherance of the general objectives ol Ihecharity and which have not been designated lorolherpurpos&s. Designated funds comprise unreslricled funds that have been set aside by the Iruslees for particular purposes. The aim and use of each designated fund is sel out in the notes to the financial slatements. Restricted funds are fundswhich are lo be used in accordancewlh specific restrictions imposed by donor6 or which have been raised by the charity for particular purposes. The cost of raising and administering such funds are charged against the specific fund. The aim aThJ use of each restricted fund is set OLrt in the notes lo the financial statements.
THE LYGON ALMSHOUSES NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 1. PRINCIPAL ACCOUNTING POLICIES (conflnued) Funds Icontlnu•dl Endowmenl funds represent those assets which musl be held permanently by the charity. principal Iriveslmenls. Income arising on the endowmenl lund5 can be used in accordance with the objecls ol the charity and is included as unreslricled income. Any capital gains or losses arising on the investments fom part ol the fund. Investment management charges and legal advice relating to the f und are charged against the fund. Inveslmenl income and gains are allocated lo the appropriate fund. Tangible fixed assèts Tangible fixed assets are stated al cost lor deemed cosll less accumulat depreciation and 8¢¢umulated irnpairment losses. Cost includes costs directly allribulable to making thè asset capable of operating as intended. Depreciation is provided on all tangible fixed assets, al rates calculated to write off the Cost, less eslimata residual value, ol each asset on a systernatic basis over its èxpected useful life as follows= Fixtures. fittings and equipment Freehold buildings Property improvèmènts Roofing 5 years 1 years 5 - 20 years 30 years Inve5tment$ Investments are recognised initially al fairvalue which is nomally th8 transaction prfc8 ex¢ludirvJ transaction costs. Subsequently, they are measured at fair value with changes recognised in 'net gains I Ilossesl on investments, in the SOFA if the shares 8re publicly traded or their fair valu¥ can olh8wse be measured reliably. Other investments are measured at cost less irrpairmenl. Dèbtors Amounts receiv8bl8 lor paid in advance) at the end ol th& pèrfod are Includ&J in the accounts under debloTr. These include invoiced service and ppaid expenditure. Llabilities Amounts payable al the end ol the period are included in the accounts under amounts payable within or after one year as appropriate. This includes amounts due to suppliers and accrued expenditure (due bul not invoiced). Improvements to proP8rties The charity capilalises expenditure on housing properties which adds to the value of thepropertyorexlends ils useful life. Improvements to property that relalts lo assets th81 have a separately identifiable life lo the property concerned are also capilalised bul under a category separate from ltr property. 10
THE LYGON ALMSHOUSES NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 1. PRINCIPAL ACCOUNTING POLICIES (contlnued) Provlslons Provisions are recognised when the charity has an obligation al the balance sheet dale as a $11 DI a past event. il is probable Ihal an oulllow DI economic benelils will be required in selllemenl and the arnounl can be reliably eslimaled. Going ¢on¢em The financial slalemenls have been prepared on a going concern basis as the trustees belitsve that no malenal uncertainties eKIS1. The Ituslees have considered the level ol funds held and the expected level of Income and expenditure lor 12 months from aulhorising these Iinan¢i31 slatemenls. The budgeted incorne and expenditure Is sufficienl with the level ol reseFves lor Ihe charity lo be able lo continue as a goirg concern. Judgemènts and key sources of estimation uncertainty preparation ol th8 financial statements qUireS management to make judgèments, eslirnalès and assumptions Ihat affect the amounts reported lor assets and liabilities as at the balance sheet date and the amounts reported for revenues and expenses during the year. However, the nature of estimation means that actual outcomes could differ Iiom thos8 estimates. The lollowng I1geMentS lapart from those involving estimalesl have had an effect on amounts recognised in the financial statements.. Tangible fixed ass6ts ar8 d8preci8ted over their useful lives taking into 8ccount sIdUal values, wherè appropriate. The actual lives of the assets and residual values are assessed annually and may vary depending on a number of factors. In re-assessing asset lives, ftOrS such as technological innovation, product life cycles and maintenance programmes are taken into account. Residual value assessments consider issues such as lulure market conditions. the remaining life of the asset and projected disposa values. Resetves Extraordinary repairs The Soheme requires the Trustees to sel aside a sum of tyjt less than £900 each year forthe purpose of providing for extra-ordinary repairs, Improvements, and rebuilding of the Almshouse belonging to the charity. The Tnjstees have designated appropriate reserves. Deslgnated reserves The charity designates reserves that are not freely available for general use bul which are part of its accurnulaled income.. A Arthur designation represents a legacy received in 1992193 plu5 further legacies received in 2012113, 2018119 & 2021122. The Trustees are not aware ol any reslriclions on the use ol the legacies but have nevertheless delemined they should be used for the benelil ol thè rèsidents. Designations for cyclical maintenance and extraordinary repairs are explained in the rèspective accounlirYJ policies sel out above. Endowment fund Endowment fund designation represents the Original investment in Ihe charity logelher wth subsequent surpluses and deficits atlribulable lo that investment. Restricted Funds Restricted funds represent the social housing grant plus a donation of £9,000 ceiVed in 2019 which was applied lo the cost of improvements to the pathways and is depreciated as sel out in note 16. 11
THE LYGON ALMSHOUSES NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 I. PRINCIPAL ACCOUNTING POLICIES (conllnued) Flnanclal Instruments Financial instruments such as loans. accounls payables, accounts receivables cash are classified either as basic or complex. All financial inslrumenls are initially measured al their lair values al the lime the transactions occur. Subsequently all basic in51rutnen15 are measured al amortlsed cosl and all compleA financial instruments are measured al a fair value through the comprehensive income. Financial inslrurnenls hekl by the Charity are classllied as lollows.. .Cash is held al cost .Fixèd as5el investments ar8 held at fair value .Olher Financial as5e15 such as Tèceivables are classifled as103ns and recelvables and held al amortls& cost using the ell&clive inleresl method, •Financial liabllities are held al amortised cosl using th8 tsfleelive inl8rèsl method. 12
THE LYGON ALMSHOUSES NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 Income from Donatlons and Legacles 2025 2024 Donations and Legacies 775 775 Income from charltablè •¢tlvltle> 2025 2024 Maint8nanc& contributions Guest rooms Sir William Powell managernenl income Laundry & other income 274,578 5,350 28,177 12,646 241,696 3,745 21,787 8.023 318.751 275,251 Void losses Ibelng rental income108t a$ a result ol property not belng let, although available lor letting) 6S7 12,080 Incom• from Inv•8tm•nts 2025 2024 Disldbulions ceIVed from the Endowment Fund Dislribullons received from the Archie Arthur Fund Distribullons recelved from tho General Fund Oistribulions r6inv8sled In the Extraordlnary Repalr Fund Bank deposit Interest 19,927 4,519 2,126 1S,699 831 19,541 4,184 4.343 15,893 541 43,102 44,502 13
THE LYGON ALMSHOUSES NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 Analy55s of resources expended staff Costs Other Direct Costs Other Allocated Costs Totsl 2025 Tolal 2024 Charhla iv ies Clerf( and admin Insurance al& Bank cha Station & sundries Catenn & entertainment reciation Warden Utilities & counctl tax Cleanin and Gardenin Equipment Mainienanc8 Routine Maintenance Wnte off of arrears 59.995 59,995 10,325 23,536 653 4,024 671 42,449 21,119 35,746 27,789 18,637 139,474 1728 383,690 42.166 10.136 11.(64 10.325 23.536 653 4,024 671 42.449 rolessional fees 1.571 3.109 21.119 19.870 43.998 23.807 21,720 139, 2,500 354,829 35.746 4,666 18,637 139,474 17281 279,453 23,123 104,237 Total Stricted sourceS expeThJed at 31 March 2025 lotalled £45012024.. £4501 Govèrnancè 2025 2024 Accounting fees (including VAT) 4,176 4,130 4,176 4,130 Nèt Income I lexp¢ndlture) for thè year endlng 31 March 2025 Nel irorne l {expendilure) is stated after charying I l¢redilirol'. 2025 2024 Depreciation of 18ngible fixed assets Loss I Igain} on fair valL* movement of inveslrnenls 13.$40 (72,7951 14
THE LYGON ALMSHOUSES NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 Reporting accountsnl's rèmunèratlon Amtsunls payable lo Independent Examiner.. 2025 2024 Independent exarnination of accounts Other financial stsrvices payroll 3,000 1,176 3,000 1,130 Trusta•s' and key manag8mènt pèrsonnèl remunèratlon and expenses The key management personnel arè the Trusl6es. Truslees neither ceIVed rKsr waived any remunèration during the year12024'. £Nill. Truslees expenses were nil loi the yaar to 31 March 2025 12024.. nil). 10 Stsff costs and omployÉ• b•neflts The averag& monthly number ol •mployees and fulllime equivalent IFTEI Ibased on 8 40 hour weekl dufiro thè yèar endirrfJ 31 March 2025 was as lollows.. 2025 Numb8r 2025 FTE 2024 Nurnber 2024 FTE Charitable acliviliès The tolal staff Costs and employee beneflls were as follows.. 2025 2024 Wages and salaries Social security Pension costs Training and other 98,490 2,316 2,955 476 77,351 2,053 315 104.237 80.063 No employee received lolal empioyee benefi15 of more than £60,00012024.. ne1. 15
THE LYGON ALMSHOUSES NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 11 Houslng propertles Land Houslng Pro ertlos Property rovements Total Cost A11A ril 2024 Additions 920,000 308,370 512,171 76,854 1,740.911 76.854 Al 31 March 2024 920,000 308,370 589.025 1,817,395 De Al 1 A ri12024 Char e for Ihe ear At 31 March 2025 recialion.. 104,848 3,084 107,932 162,409 32,994 195,403 267,257 36,078 303.335 Net book value.. At 31 March 2025 920,000 200,438 393,622 1.514,060 At 31 March 2024 920,000 203,522 349,762 1,473,284 The nel book value of land and buildings comprise of freehold property. 12 Other fixed assets Fixtures, Fittings and Equlpment Housin Fixtures, Fittings and Equipment Office Total Cost AIIA ri12024 Addition5 42,165 27,239 19,753 69.404 19,753 Dis osal At 31 March 2025 42,165 46,992 89,157 De recialion. At1A ri12024 Cha e lor the Dis osal Al 31 Mah 2025 42,165 18,021 6,371 60.186 6,371 ear 42,165 24.392 66,557 Net book value.. At 31 March 2025 22,600 22,600 Al 31 March 2024 9,218 9,218 16
THE LYGON ALMSHOUSES NOTES TO THE FINANCIAL STATEPAENTS FOR THE YEAR ENDED 31 MARCH 2025 13a Investments Market Value Permanent Endowment Fund Unrestrlcted Funds Total Fund,. Extraordinary Repair Archie Arthur General Fund As at 1 April 2023 Revaluations Income re-invesled Disposals A5 at 1 April 2024 Rèvaluations Disposals Inctsme Re-invested As at 31 March 2025 640,107 62.889 500.322 7,267 15,893 1154,1221 369,360 9,940 95.837 1,106 1,236,266 72,795 1S,893 114,122 140,0001 115,055 1,284.954 4.014 113,5401 1110,0001 1110,0001 15,69. 9,069 1,1n,113 933 702,996 129.8221 97.543 2,328 15,699 394.999 673.174 99,871 The historical cost of listed inveslm8nts held as at 37 March 2025 is £1,081.62712024.. £1.081.6271. 13b Investments Cost maet Value 2024 2024 2025 2025 PERMANENT ENDOWMENT FUND COIF Charities Ethical Investment Trust - 226,955.92 income units 582,027 582,027 702,996 673.174 EXTRAORDINARY REPAIR FUND National Association of Almshouses Common Investment Fund 2024.. 4,646.926 accumulation units 2025.. 3,222.811 8ccumulation units 312,708 312,708 369.360 394,999 ARCHIE ARTHUR FUND National Association ol Almshous8S Common Inveslrnenl Fund 107,296.013 incorne units 71,626 71.626 97.543 99.871 GENERAL FUND National Association of Almshouses Common Investment Fund 2024.. 126,559.499 income units 2025.. 9,743.102 income units 131.159 10,097 115,055 9,069 TOTAL INVESTMENTS 1 177 11 THE LYGON ALMSHOUSES 17
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 14 Debtors 2025 2024 Arrears ol weekly mainlenar)ce charges Provision loi doubllul debts Piopayments and accrued income 1,703 12,5001 7,097 3,850 13,5001 2,920 6,300 3,270 All deblors a due wlhin one year. 15 Crèditors: amounts falling due wlthin one year 2025 2024 Trade creditors Accrued expenses Other creditors 7,6S9 19,942 3,127 1,429 12,3) 1,814 30,728 15,633 16 Fund cOnc111at1on Balancè at Surplusl 144fl¢I1) IDlÈrest& Inve5bnent Incom• DtprÈ¢ InvesThonl Transfer to Cycllcal Trwh¥fèr BaLirtce at 31 March 2025 2024 Extraotdln ary Roservy Fund A Arthul regacy Cyclal rnainienance 99.870 97.542 2.328 6.821 S,235 13.157 Exyraotdinary repai 369.361 9.940 15,699 39S,000 Ac¢umuLqled 528,702 125.2381 3,634 4,014 (6.2351 115,6991 488.977 Unrpslrirl2d $efveS 1.002.426 125.2381 3.534 16.282 997.004 Re$tn¢ted funds 1,063.202 1,062.752 Perynanent Endowment 710.325 13.0841 129.8221 677,419 T¢)tsl 25,2 Extraordlnary paIrS and the Archie Athur lega¢y are represented by fixed asset inv8slmer*ts as disclosed in the investment note. The permanent endowment reserve represents the c051 of housing properties less the depreciatn charge plus Ihe book value of investrnents including surpluses and deficits arising from the revaluation ol those investments. The cyclical rnaintenance reserve Iscash backed by a separatelydesignatedbank account. Restricted fuTKIs represent the social housing grant. £1.056.452, plus a donation from 2019 of £9.000 which was applied to housiro improvements and is depreciated ov8r 20 y8ars, net book valve £6,300. 18
THE LYGON ALMSHOUSES NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 17 Analy51s of net assets beh¥een funds Unrestrlcted funds Endowment funds R8Stricted funds Totsl 2025 Fixed assets Cash and Current assets Current liabilities 973,602 54,130 130,7281 677,419 1,062,752 2,713,773 54,130 (30,7281 Total 997,004 677,419 1.062,752 2,737,175 18 Reconclllatlon of n¢1 In¢om? I lexpendlturel lo net cash flow from op•rattng i¢tlvlll•$ 2025 2024 Nel lexpendilurel l incom8 lor year 138,7781 33,S89 Dividands racaived Interest receivablè Depreciation and impairment of tangible fixed gssets Loss8$ 1198lnsl on invèstmènts Decrease I lincreasel in debtors In¢a$& I Idecreasel in creditors 142.2711 18311 42.449 13,540 {3,0301 1S,09S 143,9611 IS411 172,7951 5,454 137,6141 N•t cash flow from operadng tIVItIe* 113,8261 181,4241 19 R•lat•d party tran$a¢tlons Slr Wllllam Powell's Alrnshouses Ss 8 rglale(I party as the two charities had 2 Iruslees In common.. Councillor Adronie Alford The Rev, Peter Dobson During the year the Lygon Almshouses provided management Services lo SlrWi11iam Powell's Almshouses forwhich il charged a fee of £26.177 12024.. £21.7871. There was a balance oulslanding al the end ol lh8 year £4.74412024.' £4871. 20 Capltal Commllm•nts 2025 2024 Capital expenditur8 Contracted for and nol provided for in the accounts NIL THE LYGON ALMSHOUSES NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 19
21 Financial instruments The Carryi[ amounts ol the charity's financial instruments a as follows.. 2025 2024 Financial assets Measured al lair value through nel income l expenditure.. Fixed assel listed investments InDte 131 1,177,173 1.284,954 Measured al cost Cash al bank and in har 47.830 20,861 Measured at amortised cost.. Trade and other debtors Inole 14 excl prepayments) Totsl Flnancial Assets 1,703 1,226,646 3.850 1,309,665 Flnanclal Il•bilitie5 Measured at amortised cost Trade and other creditors Inote 151 Totsl Financial Liabilitie5 30,728 30,728 15,290 15.290 22 Net Funds Analysis of ¢hang8s in nel funds: At 1 April 2024 Cash Flows Non-cash Movements At 31 March 2025 Cash and cash equivalents Housing 108ns due in one year Fk)using loans due alter year 20.861 26,969 47,830 20,861 26,969 47.830 23 Operating Leases There are operating lèases held as at 31 March 202512024.. non&l Accomrnodation in Managem¢nt 2025 2024 Number of nits owned.. Supported housing and housing for older people 40 40 The We no additions or disposals lo units during the year12024'. non81. 20