**REGISTERED CHARITY NUMBER: 209189**
## REPORT OF THE TRUSTEES AND
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024
## FOR
## THE ASHFORD ALMSHOUSES
Cassidys Chartered Accountants South Stour Offices South Stour Road Mersham Ashford Kent TN25 7HS
THE ASHFORD ALMSHOUSES
## CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024
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Page
Report of the Trustees 1 to 2
Independent Examiner's Report 3
Statement of Financial Activities 4
Balance Sheet 5
Notes to the Financial Statements 6 to 10
Detailed Statement of Financial Activities 11
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THE ASHFORD ALMSHOUSES
## REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2024
The trustees present their report with the financial statements of the charity for the year ended 31 December 2024. The trustees have adopted the provisions of 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 (FRS 102) (effective 1 January 2019).
## **OBJECTIVES AND ACTIVITIES**
## **Objectives and aims**
The principle object of the charity is to provide housing accommodation for poor persons of good character who are inhabitants of Ashford, Kent.
In setting objectives and planning for activities, the Trustees have given due consideration to general guidance published by the Charity Commission relating to public benefit when reviewing the charity's aims and objectives and in planning future activities.
## **ACHIEVEMENT AND PERFORMANCE**
## **Charitable activities**
The income of the charity from rents and investments is used to maintain and keep in good repair the properties belonging to the charity.
During the year the property held has continued to be rented to those considered to meet the charity's requirement.
## **FINANCIAL REVIEW**
## **Reserves policy**
The trustees maintain reserves at a level they deem sufficient for the future needs of the charity.
It is the charity's policy to maintain a balance of at least 3 months average expenditure in current accounts held at Lloyds, to meet its' day to day running costs.
In addition, the charity holds cash on deposit via the Church of England to fund large one-off repairs costs and also to generate additional investment income.
## **FUTURE PLANS**
The trustees are satisfied that the investment strategy adopted will enable them to continue to maintain the properties of the charity in good order and thus continue the provision of accommodation in accordance with their charitable objects in the future.
## **STRUCTURE, GOVERNANCE AND MANAGEMENT**
## **Governing document**
The charity is controlled by its governing document, a deed of trust and constitutes an unincorporated charity.
Under a scheme established by the Charity Commissioners on 30 September 1992, the property and investments formerly administered as asset of Ashford Almhouses and other Charities and Crothall Almshouses were to be administered as the property of this charity.
In addition, under a scheme approved by the Charity Commissioners on 8 April 1998, the property and investments formerly administered as assets of The Sidney and Lillian Howland Trust (AL) were to be administered as property of this charity.
## **Recruitment and appointment of new trustees**
The board of trustees when complete, is made up of four trustees from the Borough Council, the Rector of Ashford and the remaining trustees are individuals with local knowledge. The appointment of trustees from the council takes place within the council and the appointment of the Rector of Ashford is automatic with his position. For an individual to be appointed, they must be proposed by one of the existing trustees; then seconded by an existing trustee, and all other trustees must agree.
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THE ASHFORD ALMSHOUSES
## REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2024
## **REFERENCE AND ADMINISTRATIVE DETAILS Registered Charity number** 209189
**Principal address** 11 Bank Street Ashford Kent TN23 1DA
**Trustees** B J Heyes R Blount L W Krause J D Hudson Rev. Canon J Worthen Miss C S Hannah Dr C J Hallett Cllr E E Wright J K Fox
**Independent Examiner** S G Whorlow FCA Cassidys Chartered Accountants South Stour Offices South Stour Road Mersham Ashford Kent TN25 7HS
Approved by order of the board of trustees on ............................................. and signed on its behalf by:
........................................................................ Rev. Canon J Worthen - Trustee
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INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF THE ASHFORD ALMSHOUSES
## **Independent examiner's report to the trustees of The Ashford Almshouses**
I report to the charity trustees on my examination of the accounts of The Ashford Almshouses (the Trust) for the year ended 31 December 2024.
## **Responsibilities and basis of report**
As the charity trustees of the Trust you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('the Act').
I report in respect of my examination of the Trust's accounts carried out under Section 145 of the Act and in carrying out my examination I have followed all applicable Directions given by the Charity Commission under Section 145(5)(b) of the Act.
## **Independent examiner's statement**
I have completed my examination. I 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:
1. accounting records were not kept in respect of the Trust as required by Section 130 of the Act; or
2. the accounts do not accord with those records; or
3. 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.
I 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.
S G Whorlow FCA
Cassidys Chartered Accountants South Stour Offices South Stour Road Mersham Ashford Kent TN25 7HS
Date: .............................................
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THE ASHFORD ALMSHOUSES
## STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2024
|Notes
**INCOME AND ENDOWMENTS FROM**
Investment income
2
**EXPENDITURE ON**
Raising funds
3
Other
**Total**
Net gains on investments
**NET INCOME**
**RECONCILIATION OF FUNDS**
Total funds brought forward
**TOTAL FUNDS CARRIED FORWARD**|31.12.24
Unrestricted
fund
£
59,712
27,889
32,849
60,738
18,053
17,027
2,886,562
2,903,589|31.12.23
Total
funds
£
63,538
19,229
31,730
50,959
13,155
25,734
2,860,828
2,886,562|
|---|---|---|
The notes form part of these financial statements
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THE ASHFORD ALMSHOUSES
## BALANCE SHEET 31 DECEMBER 2024
|Notes
**FIXED ASSETS**
Investment property
6
**CURRENT ASSETS**
Debtors
7
Investments
8
Cash at bank
**NET CURRENT ASSETS**
**TOTAL ASSETS LESS CURRENT**
**LIABILITIES**
**NET ASSETS**
**FUNDS**
9
Unrestricted funds
**TOTAL FUNDS**|31.12.24
Unrestricted
fund
£
2,410,000
419
257,257
235,913
493,589
493,589
2,903,589
2,903,589
2,903,589
2,903,589|31.12.23
Total
funds
£
2,410,000
407
239,205
236,950
476,562
476,562
2,886,562
2,886,562
2,886,562
2,886,562|
|---|---|---|
The financial statements were approved by the Board of Trustees and authorised for issue on ............................................. and were signed on its behalf by:
............................................. Trustee
The notes form part of these financial statements
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THE ASHFORD ALMSHOUSES
## NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024
## **1. ACCOUNTING POLICIES**
## **Basis of preparing the financial statements**
The financial statements of the charity, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) '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 (FRS 102) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Charities Act 2011. The financial statements have been prepared under the historical cost convention.
## **Income**
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.
## **Expenditure**
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.
## **Investment property**
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in the Statement of Financial Activities.
## **Taxation**
The charity is exempt from tax on its charitable activities.
## **Fund accounting**
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.
Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.
## **2. INVESTMENT INCOME**
|Rents received
Deposit account interest
Dividends received|31.12.24
31.12.23
£
£
47,943
56,148
10,742
6,422
1,027
968|
|---|---|
||59,712
63,538|
continued...
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THE ASHFORD ALMSHOUSES
## NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2024
## **3. RAISING FUNDS**
## **Investment management costs**
|Property repairs
Maintenance charges|31.12.24
31.12.23
£
£
24,859
15,999
3,030
3,230|
|---|---|
||27,889
19,229|
## **4. TRUSTEES' REMUNERATION AND BENEFITS**
There were no trustees' remuneration or other benefits for the year ended 31 December 2024 nor for the year ended 31 December 2023.
## **Trustees' expenses**
There were no trustees' expenses paid for the year ended 31 December 2024 nor for the year ended 31 December 2023.
## **5. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES**
|**INCOME AND ENDOWMENTS FROM**
Investment income
**EXPENDITURE ON**
Raising funds
Other
**Total**
Net gains on investments
**NET INCOME**
**RECONCILIATION OF FUNDS**
Total funds brought forward
**TOTAL FUNDS CARRIED FORWARD**|Unrestricted
fund
£
63,538
19,229
31,730
50,959
13,155
25,734
2,860,828
2,886,562|
|---|---|
continued...
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THE ASHFORD ALMSHOUSES
## NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2024
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6. INVESTMENT PROPERTY
£
FAIR VALUE
At 1 January 2024
and 31 December 2024 2,410,000
NET BOOK VALUE
At 31 December 2024 2,410,000
At 31 December 2023 2,410,000
Fair value at 31 December 2024 is represented by:
£
Valuation in 2018 420,000
Valuation in 2022 590,000
Cost 1,400,000
2,410,000
7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.24 31.12.23
£ £
Prepayments 419 407
8. CURRENT ASSET INVESTMENTS
31.12.24 31.12.23
£ £
Listed investments 257,257 239,205
9. MOVEMENT IN FUNDS
Net
movement At
At 1.1.24 in funds 31.12.24
£ £ £
Unrestricted funds
General fund 2,886,562 17,027 2,903,589
TOTAL FUNDS 2,886,562 17,027 2,903,589
Net movement in funds, included in the above are as follows:
Incoming Resources Gains and Movement
resources expended losses in funds
£ £ £ £
Unrestricted funds
General fund 59,712 (60,738) 18,053 17,027
TOTAL FUNDS 59,712 (60,738) 18,053 17,027
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continued...
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THE ASHFORD ALMSHOUSES
## NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2024
## **9. MOVEMENT IN FUNDS - continued**
## **Comparatives for movement in funds**
|**Unrestricted funds**
General fund
**TOTAL FUNDS**
Comparative net movement in funds, included in the above are as
Incoming
resources
£
**Unrestricted funds**
General fund
63,538
**TOTAL FUNDS**
63,538|At 1.1.23
£
2,860,828
2,860,828
follows:
Resources
expended
£
(50,959)
(50,959)|Net
movement
in funds
£
25,734
25,734
Gains and
losses
£
13,155
13,155|At
31.12.23
£
2,886,562
2,886,562
Movement
in funds
£
25,734
25,734|
|---|---|---|---|
A current year 12 months and prior year 12 months combined position is as follows:
|**Unrestricted funds**
General fund
**TOTAL FUNDS**|At 1.1.23
£
2,860,828
2,860,828|Net
movement
in funds
£
42,761
42,761|At
31.12.24
£
2,903,589
2,903,589|
|---|---|---|---|
A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:
|**Unrestricted funds**
General fund|Incoming
Resources
Gains and
resources
expended
losses
£
£
£
123,250
(111,697)
31,208|Movement
in funds
£
42,761|
|---|---|---|
|**TOTAL FUNDS**|123,250
(111,697)
31,208|42,761|
continued...
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THE ASHFORD ALMSHOUSES
## NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2024
## **10. RELATED PARTY DISCLOSURES**
There were no related party transactions for the year ended 31 December 2024.
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THE ASHFORD ALMSHOUSES
## DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2024
|**INCOME AND ENDOWMENTS**
**Investment income**
Rents received
Deposit account interest
Dividends received|31.12.24
31.12.23
£
£
47,943
56,148
10,742
6,422
1,027
968|
|---|---|
||59,712
63,538|
|**Total incoming resources**
**EXPENDITURE**
**Investment management costs**
Property repairs
Maintenance charges|59,712
63,538
24,859
15,999
3,030
3,230|
|**Other**
Wages
Rates & Water
Insurance
Electricity charges
Gas
Sundry expenses
Clerks expenses
Subscriptions|27,889
19,229
5,292
5,040
6,145
3,401
2,177
2,292
8,147
7,272
9,437
8,586
537
4,238
245
206
407
233|
|**Support costs**
**Governance costs**
Accountancy and legal fees|32,387
31,268
462
462|
|Total resources expended|60,738
50,959|
|**Net (expenditure)/income before gains and**
**losses**
**Realised recognised gains and losses**
Realised gains/(losses) on fixed asset investments|(1,026)
12,579
18,053
13,155|
|**Net income**|17,027
25,734|
This page does not form part of the statutory financial statements
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