2025-08-31-accounts - Felsted Almshouse Charity

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FELSTED ALMSHOUSE CHARITY

REPORT AND ACCOUNTS FOR THE FOR THE PERIOD 1 APRIL 2024 TO 31 AUGUST 2025

UK Registered Charity number: 209111

FELSTED ALMSHOUSE CHARITY

REPORT AND FINANCIAL STATEMENTS

FOR THE PERIOD 1 APRIL 2024 TO 31 AUGUST 2025

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FELSTED ALMSHOUSE CHARITY

TRUSTEES’ ANNUAL REPORT

FOR THE PERIOD 1 APRIL 2024 TO 31 AUGUST 2025

Reference and Administration details
Registered charity number		209111
Charity’s principal address		Felsted School
		Felsted
		Essex CM6 3LL
Trustee		Felsted School Trustee Limited. The Directors of
		the Trustee Company who served during the year
		are listed below
		J Abel Smith (Resigned 4 Jul 2025)
		M Beale (Chair)
		GP Boult (Resigned 24 Mar2025)
		RIC Brown
		CA Carrington (Resigned 4 Jul 2024)
		G Cherry (Appointed 26 January 2026)
		J Crouch
		JH Davies OBE (Resigned 5 Jan 2026)
		A L Dowling (Appointed 22 Apr 2025)
		Dr J C Nicholson
		ALM Oxnam (Resigned 4 Jul 2025)
		L Poston
		Z Rantell (Appointed 16 Nov 2024)
		AH Sefton (Resigned 4 Jul 2025)
		OH J Stocken CBE
		Rev N Stuchfield
		PE Wardell
		L Wells (Appointed 16 November 2024)
		J Windsor
		S Wolfe
Clerk to the Trustees		Mr J L Atkins
Bankers		Barclays Bank Pic
		1 Bank Street
		Braintree
		Essex CM7 9UQ
Solicitors		Stone King LLP
		Upper Borough Court (UBC)
		Upper Borough Walls
		Bath
		BA1 2RG
Independent examiner		Mark Pearson FCA
		Lambert Chapman LLP
		3 Warners Mill
		Silks Way
		Braintree
		Essex CM7 3GB
	]

FELSTED ALMSHOUSE CHARITY

TRUSTEES’ ANNUAL REPORT (CONTINUED)

FOR THE PERIOD 1 APRIL 2024 TO 31 AUGUST 2025

The financial statements have been prepared in accordance with the accounting policies set out in the notes to the accounts and comply with the charity’s governing document, the Charities Act 2011 and Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland published on 16 July 2014.

Structure, governance and management

Description of the charity’s trusts

The charity was constituted on 23 October 1876 and is governed by a definitive Trust Deed and Rules dated 23 August 1961 as varied by a further scheme of 18 August 1965 and by Charity Commission Order of 15 April 2013 and Trustee resolution of 15 June 2013. A resolution was passed on 1 December 2012 to approve the appointment of Felsted School Trustee Limited as sole trustee of the charity. Appointment as a director of the Trustee Company is by invitation as and when a vacancy arises.

Objectives and activities

The purpose of the charity is the operation of Almshouses. The Almshouse caters for 7 people and during the year was fully occupied except for periods of changeover of tenants and refurbishment of properties.

Achievements and performance

The trustees have actively sought to continue to maintain the properties at a high standard of decorative repair.

Public benefit

The Trustees have given due consideration to The Charity Commission published guidance on the operation of Public Benefit requirement when considering the charity’s objectives and activities.

Reserves

The Trustees have considered the reserves held by the Charity as of 31 August 2025. It is the Trustees’ policy to hold unrestricted reserves to provide for continual improvement to the Almshouses, including making prudent provision of up to ten times annual expenditure to allow for major capital improvements to the properties as required for the safety, health and enjoyment of the occupanis. At the balance sheet date free reserves stood at £412,090 and the Trustees believe that this is sufficient for that purpose at the present time. Total reserves held at 31 August 2025 were £459,474 of which £9,494 is restricted and £29,078 is endowed and these are not available for general purposes.

Financial review

The net movement in funds for the year was an increase of £4,438 (2024: £33,356). During the year general repairs were carried out to the properties.

Declaration

The Trustees declare that they have approved the Trustee’s Report above.

Approved by the Trustee on 21 March 2026 and signed on its behalf

M Beal Chairman of Felsted School Trustee Limited

Independent examiner's report to the trustees of Felsted Almshouse Charity

| report to the trustees on my examination of the accounts of the Felsted Almshouse Charity for the period ended 31 August 2025, which are set out on pages 4 to 12.

Responsibilities and basis of report

As the charity trustee of the Felsted Almshouse Charity you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 (‘the Act’).

| report in respect of my examination of Felsted Almshouse Charity’s accounts carried out under section 145 of the 2011 Act and in carrying out my examination | have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.

Independent examiner’s statement

| have completed my examination. | confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:

accounting records were not kept in respect of Felsted Almshouse Charity as required by section 130 of the Act; or
the accounts do not accord with those records; or
the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a ‘true and fair view which is not a matter considered as part of an independent examination.

| have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.

Mark Pearson FCA Lambert Chapman LLP 3 Warners Mill Silks Way Braintree Essex CM7 3GB

Date

FELSTED ALMSHOUSE CHARITY

STATEMENT OF FINANCIAL ACTIVITIES

FOR THE PERIOD 1 APRIL 2024 TO 31 AUGUST 2025

	Restricted	Endowment	General	Total	Total
	Funds	Funds	Funds	2025	2024
	£	£	£	£	£
Income and endowments from:
Donations	-	-	50	50	-
Charitable activities (note 4)	-	-	44,240	44,240	24,440
Investments	-	-	9,198	9,198	7,658
Total Income	-	-	53,488	53,488	32,098
Expenditure on:
Charitable activities (note 5)	-	(2,073)	(45,205)	(47,278)	(21,702)
Total Expenditure	-	(2,073)	(45,205)	(47,278)	(21,702)
Net Income	-	(2,073)	8,283	6,210	10,396
Net Gain/(Loss) on investments	-	-	(1,772)	(1,772)	22,960
Netmovement infunds	-	(2,073)	6,511	4,438	33,356
Total funds brought forward	9,494	31,151	414,391	455,036	421,680
Totalfundscarriedforward	9,494	29,078	420,902	459,474	455,036

FELSTED ALMSHOUSE CHARITY

BALANCE SHEET

AS AT 31 AUGUST 2025

		Restricted	Endowment	General	Total	Total
		Funds	Funds	Funds	2025	2024
	Note	£	£	£	£	£
Fixed assets
Tangible assets	ri	-	29,078	8,812	37,890	40,242
Investments	8	-	-	214,619	214,619	216,390
Total fixed assets		-	29,078	223,431	252,509	256,632
Current assets
Debtors	9	-	-	1,258	1,258	386
Cash atbankand in hand		9,494	-	261,624	271,118	217,670
Total currentassets		9,494	-	262,882	272,376	218,056
Creditors: amounts falling due within one year
	10	-	-	(65,411)	(65,411)	(19,652)
Netcurrentassets		9,494	-	197,471	206,965	198,404
Netassets		9,494	29,078	420,902	459,474	455,036
Funds ofthe charity	11
Restricted funds		9,494	-	-	9,494	9,494
Endowmentfunds		-	29,078	-	29,078	31,151
General funds		-	-	420,902	420,902	414,391
Totalfunds		9,494	29,078	420,902	459,474	455,036

The accounts were approved by the Trustee on

and signed on its behalf by:

M. Beale

Chairman of Felsted School Trustee Limited

FELSTED ALMSHOUSE CHARITY

NOTES TO THE ACCOUNTS

FOR THE PERIOD 1 APRIL 2024 TO 31 AUGUST 2025

Charity information The charity is unincorporated and registered with the Charity Commission in England and Wales (registered number 209111) and domiciled in the UK and is a public benefit entity. The address of the registered office is Felsted School, Felsted, Essex, CM6 3LL.
Basis of preparation (policy)

The principal accounting policies adopted, and critical areas of judgment are as follows:

Felsted Almshouse Charity meets the definition of a public benefit entity under FRS 102. The accounts (financial statements) have been prepared under the historic cost convention with items recognised at cost or transaction value unless otherwise stated in the relevant note(s) to these accounts.

After making enquiries, the Trustees have a reasonable expectation that the charity has adequate resources to continue its activities for the foreseeable future.

Accounting policies

INCOME

Recognition of income

Contributions are included in the Statement of Financial Activities (SoFA) when:
e the charity becomes entitled to the resources; e the receipt is probable and e the monetary value can be measured with sufficient reliability.

Investment income

This is included in the accounts when receivable.

Investment gains and losses

This includes any gain or loss on the sale of investments and any gain or loss resulting from revaluing investments to market value at the end of the year.

EXPENDITURE AND LIABILITIES

Charitable activities

Governance costs

Charitable activities comprise all costs which are directly attributable to the objects of the charity. Expenses are recognised when a constructive or legal obligation to the recipient has been created by the charity. Include costs of the preparation and examination of statutory accounts, the costs of trustee meetings and cost of any legal advice to trustees on governance or constitutional matters.

ASSETS

Tangible fixed assets for use by charity

The endowment property of the Charity comprising land at Felsted, Essex with seven almshouses thereon is not valued. Improvement and renovation costs are capitalised as they are incurred, and depreciation is charged on the cost of improvements at a rate of 2% per annum.

Investments

Investments quoted on a recognised stock exchange are valued at market value at the year end.

JUDGEMENTS

KEY ASSUMPTIONS

GOING CONCERN

Apart from those judgements involving estimations, the management team have not made any judgements in the process of applying the entity’s accounting policies that have a significant effect on the amounts recognised in the accounts.

There are no key assumptions concerning the future or other key sources of estimation uncertainty at the reporting date that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next reporting period.

The trustees consider there are no uncertainties about the charities ability to continue as a going concern nor any significant areas of uncertainty that affect the carrying value assets held by the charity.

FELSTED ALMSHOUSE CHARITY

NOTES TO THE ACCOUNTS (CONTINUED)

FOR THE PERIOD 1 APRIL 2024 TO 31 AUGUST 2025

4. Analysis of income from charitable activities

			2025	2024
			£	£
	Contributions from
	occupants ofAlmshouses		44,240	24,440
5.	Analysis ofexpenditure
			2025	2024
			.	£
	Charitable
	activities	Insurance	2,100	1,487
		Rates	-	150
		Repairs	38,935	14,546
		Energy	-	583
		Depreciation	2,353	1,660
		Management fee	2,125	1,500
		Subscriptions	-	343
		Sundry	40	33
		Governance costs (see below)	1,725	1,400
			47,278	21,702
	Governance costs
			2025	2024
			£	£
		Independent examiner fee
		Professional fees	1,725	1,400
			1,725	1,400

The charity had no employees during the year (2024: nil)

6. Trustee expenses and remuneration

There are no trustee expenses and no remuneration was paid to the Trustees in the current or preceding year.

FELSTED ALMSHOUSE CHARITY

NOTES TO THE ACCOUNTS (CONTINUED)

FOR THE PERIOD 1 APRIL 2024 TO 31 AUGUST 2025

ee

7. Tangible Fixed Assets

			Property
			Improvements
			£
Cost	b/fat 1 April 2024 and c/fat 31 August2025		83,047
Depreciation b/f 1 April
2024			42,804
Charge forthe year			2,303
Depreciation as at 31 August 2025			45,157
NBV31	31 August 2025		37,890
NBV	31 March 2024		40,242
8.	Investment Assets
		401.33	1453.83	324.88
		COIF Inv Fund	COIF Inv Fund	COIF Inv Fund	Total oo
		Acc units	Acc units	Acc units
		£	£	£	£
Carrying (market value) at 1 April 2024		103,169	29,706	83,516	216,391
Netgain (loss) on revaluation		(361)	(1,119)	(292)	(1,772)
Carrying (marketvalue) at 31 August 2025		102,808	28,587	83,224	214,619
9.	Debtors (all due within one year)
				2025	2024
				£	£
	Prepayments and accrued income			1,258	386
10.	Creditors (all due within one year)
				2025	2024
				£	£
	Management fee			3,625	4,500
	Independent Examiner’s fee			5,425	3,700
	Other creditors			56,361	11,452
				65,411	19,652

FELSTED ALMSHOUSE CHARITY

NOTES TO THE ACCOUNTS (CONTINUED)

FOR THE PERIOD 1 APRIL 2024 TO 31 AUGUST 2025

11. Analysis of Net Assets Between Funds

				Fund
				Balances at
	Restricted	Endowed	General	31 August
	Funds	Funds	Funds	2025
	£	£	£	£
Fixed Assets	-	29,078	8,812	37,890
Investments	-	-	214,619	214,619
Net Current Assets	9,494	-	197,471	206,965
TotalFunds	9,494	29,078	420,902	459,474

				Fund
				Balances at
	Restricted	Endowed	General	31 March
	Funds	Funds	Funds	2024
	£	£	£	£
Fixed Assets	-	31,151	9,091	40,242
Investments	-	-	216,390	216,390
Net CurrentAssets	9,494	-	188,910	198,404
TotalFunds	9,494.	31,151	414,391	455,036

FELSTED ALMSHOUSE CHARITY

NOTES TO THE ACCOUNTS (CONTINUED)

FOR THE PERIOD 1 APRIL 2024 TO 31 AUGUST 2025

iee ——CS 12. Endowed and restricted income funds The endowed fund represents the endowed property at Felsted, and the charge for the year is the depreciation thereon.

The restricted capital fund represents historical funds set aside for a limited number of uses.

	Fund Balances				Fund Balances
	at				at
Fund name Restricted Endowed General	1 April 2024 £ 9,494 31,151 414,391	Income £ - - 53,488	Expenditure £ - (2,073) (45,205)	Loss £ - . (1,772)	31 August2025 £ 9,494 29,078 420,902
Total Funds	455,036	53,488	(47,278)	(1,772)	459,474
	Fund Balances				Fund Balances
	at				at
Fund name	1 April 2023	Income	Expenditure	Gain	31 March 2024
Restricted Endowed General	£ 9,494 32,614 379,572	£ - - 32,098	£ - (1,463) (20,239)	£ - - 22,960	£ 9,494 31,151 414,391
TotalFunds	421,680	32,098	(21,702)	22,960	455,036

Related party transactions

There were no related party transactions during the year (2024: nil) or amounts ouistanding at the year end.

$$eee

FELSTED ALMSHOUSE CHARITY

NOTES TO THE ACCOUNTS (CONTINUED)

FOR THE PERIOD 1 APRIL 2024 TO 31 AUGUST 2025

14. Statement of Financial Activities — Prior Year Comparative Figures By Fund Type

	Restricted	Endowment	General	Total
	Funds	Funds	Funds	2024
	£	£	£	£
Income and endowments from:
Donations	-	-	-	-
Charitable activities (note 4)	-	-	24,440	24,440
Investments	-	-	7,658	7,658
Total	-	-	32,098	32,098
Expenditure on:
Charitable activities (note 5)	-	(1,463)	(20,239)	(21,702)
Total	-	(1,463)	(20,239)	(21,702)
Net gain on investments	—	——	—_—	—___.
	-	(1,463)	11,859	10,396
Net income/(expenditure)	———	—	—_	——_
	-	-	22,960	22,960
Net movement in funds	-	(1,463)	34,819	33,356
Total funds brought forward	9,494	32,614	379,572	421,680
Totalfundscarriedforward	9,494	31,151	414,391	455,036