**REGISTERED CHARITY NUMBER: 209301** ## **TRUSTEES' REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024** ## **FOR** ## **DAVID HENRY WARING HOME TRUST** LEES Chartered Certified Accountants Ingram House Meridian Way Norwich Norfolk NR7 0TA **DAVID HENRY WARING HOME TRUST** ## **CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024** |||**Page**|| |---|---|---|---| |**Trustees' Report**|1|to|5| |**Independent Examiner's Report**||6|| |**Statement of Financial Activities**||7|| |**Balance Sheet**||8|| |**Notes to the Financial Statements**|9|to|13| |**Detailed Statement of Financial Activities**||14|| **DAVID HENRY WARING HOME TRUST** ## **TRUSTEES' REPORT FOR THE YEAR ENDED 31 MARCH 2024** The trustees present their report with the financial statements of the charity for the year ended 31 March 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** In setting their objectives and planning their activities, the Directors of the Trustee Company have given careful consideration to the Charity Commission's guidance on public benefit. The objectives of the Directors are to maintain and administer the Charity and its almshouses, which provide housing for the benefit of those with limited means. The almshouses, known as David Henry Waring Home, are situated at David Henry Waring Court, Staines Road, Bedfont, Middlesex, TW14 8PE and consists of 8 units of 1 bedroom flats and extensive and attractive communal spaces including a lounge, library and kitchen. In addition there is a 2 bedroom bungalow on the estate. The estate benefits from a large and attractive garden with many established trees. The Directors intentions are to provide comfortable and affordable accommodation in a relaxed environment for the beneficiaries and all their efforts are concentrated in this direction. The Directors appreciate that creating a sustainable scheme that meets with their objectives, could take several years and that temporary alternative uses for the site may be necessary in the short term to ensure the charity remains viable and the site available for social housing development. ## **ACHIEVEMENT AND PERFORMANCE** Corporate trusteeship of David Henry Waring Home was taken over from the London Borough of Hounslow on 24th July 2019. One member of staff joined the charity under TUPE arrangements. All of the 8 flats are located in a large, converted Victorian house with an extension built in the 1980's. 1 flat was empty at 31st March 2024. The bungalow (lodge) had been used for accommodation for the gardener but upon his retirement and moving away the task was given to contractors and the bungalow boarded up. The Charity has obtained permission from the Charity Commission to let the bungalow at a commercial rate to help the Charity's finances. The property has now been let and contributes approximately £1,500 per calendar month in rental. Directors undertook weekly meetings with residents, attending coffee mornings. The meetings have proved a useful way to engage residents about the Charity's future plans (see below). During the year the Charity continued its review of its governance and appointed 4 new Directors. The Charity has a very proactive approach to safeguarding and there were no safeguarding concerns during the year. The Charity holds a bank account with the Charities Aid Foundation (CAF Bank). Page 1 **DAVID HENRY WARING HOME TRUST** ## **TRUSTEES' REPORT FOR THE YEAR ENDED 31 MARCH 2024** ## **FINANCIAL REVIEW** The charity came into the control of The Charity of Elizabeth Jane Jones Trustee Ltd. in July 2019 from the previous trustees, Hounslow Borough Council. The Directors recognise that the scheme at present with the potential maximum of only 8 flats and one bungalow let commercially, is not financially viable. The Charity has incurred considerable expense in design costs and obtaining planning permission to build a new block of flats to replace 20 bedsit units, deemed in 2018 to be no longer suitable for accommodation. The charity received notification in July 2023 that the scheme submitted in 2020 was considered approvable subject to legal agreements with te planning authorities Disappointingly, the continued inflation in building costs and sustained high interest rates has meant that the scheme costs had escalated so the current scheme of 31 flats was no longer financially viable, even with generous grants available for social housing. Whilst it is not possible at the present time to commence development (see below) these pre-spend costs of £507K (shown as restricted funds in debtors in the balance sheet) we believe these will be utilised in the scheme as designed or a similar project. As discussed below and as predicted previously the charity has utilised all cash available to it due to the ongoing costs being approximately twice the income from eight flats. ## **Reserves policy** The charity aims to hold reserves to secure its future and allow for contingencies and risks in its operation. The Charity holds investments with Blackrock and CCLA. of £190K and £79K respectively, totalling £269K. The former is intended as a long-term reserve for capital expenditure and the latter a short-term reserve.. The charity holds an investment property (lodge) valued at £400-450K in 2024. The charity holds a loan from EJJ Charity within the same corporate trustee of £272K repayable on demand, and shown in accounts as other creditors. The charity held £3K in the bank. The cash reserves of the charity are therefore zero and cash flow is maintained by the loan made available through loan by EJJ which is repayable on demand. The charity recognises that the current cash flow situation must be addressed,to provide a more secure financial position and has agreed to liquidate assets held in investment funds and investment assets to address this situation subject to approvals being gained to allow reserves to be available to accommodate contingencies and risks in its future operation. The exhaustion of cash reserves as predicted before the charity took responsibility for David Henry Waring Home has required that the charity take significant steps to prevent further erosion of the financial viability of the charity. (see future plans) ## **Staff** The Charity employed one part time member of staff at the year end. Page 2 **DAVID HENRY WARING HOME TRUST** ## **TRUSTEES' REPORT FOR THE YEAR ENDED 31 MARCH 2024** ## **FUTURE PLANS** Due to the continued non viability of the site in its current format of 8 flats, the future plans are centered of identifying a financially viable opportunity for the charity, and work has been ongoing to identify these. It is critical to the Charity's long-term future that a financially viable format for the charity is identified whether by utilising the planning permission to develop 31 new flats secured in July 2023, by improving viability of the currently approved scheme, or by adopting another format which is financially viable. The Charity is exploring a range of options to ensure the Charity's viability and longer term viability and availability of the site for charitable purposes. Given the current situation this may need to include some commercial letting options of the site or parts of it in the interim period, whilst planning approval is sought for a viable scheme considering current building costs and interest rates. .The charity continues to work with local government, planning authorities and other key stakeholders so that a suitable solution is found. ## Events following year End Due to the financial challenges outlined clearly above the board of the charity made the difficult decision to suspend operation of the charity in its current format of eight flats used for almshouses. This decision was made following consideration of the financial situation of the charity and the needs of the residents. The charity continues to work with residents to locate suitable alternative homes for them and has committed to support them through this difficult process, and has financed relocation. To date suitable accommodation has been located for three of the six residents. The charity has also had to reduce staff supporting the charity and the part-time member of staff was served with redundancy notice in July 2024 and it is anticipated that alternative accommodation will be found for all residents by end 2024.to allow ongoing costs of site to be reduced to minimal levels while a viable future for the charity is identified. The Charity has met with stakeholders, including architects, planning authorities grant makers and local government to develop feasible options for the site, Page 3 **DAVID HENRY WARING HOME TRUST** ## **TRUSTEES' REPORT FOR THE YEAR ENDED 31 MARCH 2024** ## **STRUCTURE, GOVERNANCE AND MANAGEMENT** Under the agreement to transfer the Corporate Trusteeship to the Charity of Elizabeth Jane Jones Trustee Ltd, three former trustees of David Henry Waring Home joined the Board of Directors at the AGM in October 2019, bringing the total number of Directors to eleven. The Board of Directors of the Corporate Trustee shall consist of at least six, and no more than fourteen, competent persons. New directors are appointed by a resolution of the board for a term of five years. Directors may seek re-appointment after their term of office expires. At bi-monthly board meetings, the Board agrees the broad strategy and major policy decisions of the Charity including consideration of investment policy, reserves policy and risk management. Day to day management is undertaken by the Chief Executive and staff of the Charity of Elizabeth Jane Jones assisted by the member of staff based at David Henry Waring Home. The Charity has three sub committees that undertake the functions of: * Approving new applications for accommodation * Overseeing the demolition and rebuilding of the 1970's wing, reporting to the Full Board for appropriate authorities * Assessing and reporting to the Full Board and planned borrowings in relation to the new build The major risks, to which the Charity is exposed, as identified by the Directors, are regularly monitored and periodically reviewed. Steps have been taken to establish systems and procedures to mitigate these risks. Key amongst these risks is the financial viability of the site and ability to obtain permission for a development to be financially viable and meet strict planning constraints relating to the Grade II listing of the property in a conservation area. The Board keeps its skill requirements under review and, in the event that a Director permanently retires or additional Directors are required, the Board of Directors actively seek to recruit suitable persons in order to maintain or improve the overall standard of expertise required to run the Charity effectively. The induction process for any newly-appointed Directors comprises attendance at least one Board Meeting as an observer, an initial meeting with the Chair and CEO. There follows a series of short meetings with the CEO with discussions on investments, and the powers and responsibilities of the Trustee Company Board and the Sub Committees. The welcome pack includes a brief history of the Charity, copy Board and Sub Committee Minutes, a copy of the last three years of Annual Reports and Accounts, a copy of the governing trust deed and a copy of the Charity Commission's guidance 'The Essential Trustee: What You Need To Know'. The Charity is an active member of following bodies: - The Almshouse Association - The National Housing Federation - The G320 group of smaller London based housing associations ## **REFERENCE AND ADMINISTRATIVE DETAILS** ## **Registered Charity number** 209301 ## **Principal address** Staines Road Feltham TW14 8PE Page 4 **DAVID HENRY WARING HOME TRUST** ## **TRUSTEES' REPORT FOR THE YEAR ENDED 31 MARCH 2024** ## **Trustees** ## **THE TRUSTEE** The charity is served by the Corporate Trustee; Elizabeth Jane Jones Trustee Limited. ## **The Directors of Elizabeth Jane Jones Trustee Limited** The Directors who served the Corporate Trustee during the period were as follows:Mr A V Groves (Chairman) Mr C J Gage Mrs S Alderson Mrs A Gupta Revd P J Smith Mrs C F Mays Mrs A T McCreadie Mrs S Brewerton Mr D I Harvey Mr W R Jinks Mr T J A Wright (appointed 22 November 2023) Mr B F Marken (appointed 22 November 2023) Mr P Kingsmore (appointed 22 November 2023) Mrs K E Mills (appointed 22 November 2023) Mr C J Gage served as Chairman for the period from 1 April 2022 to 27 September 2023 when he was replaced as Chairman by Mr A V Groves, who was previously the Vice Chairman from 1 April 2022 to 27 September 2023, when he was replaced by Mrs S Alderson. ## **Clerk** Mr N Lucas ## **Independent Examiner** Anthony Brain FCA LEES Chartered Certified Accountants Ingram House Meridian Way Norwich Norfolk NR7 0TA **Bankers** CAF Bank 25 Kings Hill Avenue West Malling Kent ME19 4JQ ## **Solicitors** Bircham Dyson Bell 50 Broadway London SW1 0BL **Chartered surveyors** Sneller Commercial Bridge House 74 Broad Street Teddington TW11 8QT Approved by order of the board of trustees on ............................................. and signed on its behalf by: ........................................................................ A V Groves - Trustee Page 5 ## **INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF DAVID HENRY WARING HOME TRUST** ## **Independent examiner's report to the trustees of David Henry Waring Home Trust** I report to the charity trustees on my examination of the accounts of David Henry Waring Home Trust (the Trust) for the year ended 31 March 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. Anthony Brain FCA LEES Chartered Certified Accountants Ingram House Meridian Way Norwich Norfolk NR7 0TA Date: ............................................. Page 6 ## **DAVID HENRY WARING HOME TRUST** ## **STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2024** ||||||2024|2023| |---|---|---|---|---|---|---| |||Unrestricted|Restricted||Total|Total| |||fund|funds||funds|funds| ||Notes|£|£||£|£| |**INCOME AND ENDOWMENTS FROM**||||||| |**Charitable activities**||||||| |Weekly maintenance charges||49,977||-|49,977|49,182| |Investment income|2|17,267||-|17,267|8,621| |**Total**||67,244||-|67,244|57,803| |**EXPENDITURE ON**||||||| |**Charitable activities**||||||| |Charitable Activities||127,019||-|127,019|146,546| |Other||9,856||-|9,856|369,927| |**Total**||136,875||-|136,875|516,473| |Net gains/(losses) on investments||-|3,845||3,845|(29,026)| |**NET INCOME/(EXPENDITURE)**||(69,631)|3,845||(65,786)|(487,696)| |**Transfers between funds**|11|65,027|(65,027)||-|-| |**Net movement in funds**||(4,604)|(61,182)||(65,786)|(487,696)| |**RECONCILIATION OF FUNDS**||||||| |Total funds brought forward||(5,091)|2,984,056||2,978,965|3,466,661| |**TOTAL FUNDS CARRIED FORWARD**||(9,695)|2,922,874||2,913,179|2,978,965| The notes form part of these financial statements Page 7 ## **DAVID HENRY WARING HOME TRUST** ## **BALANCE SHEET 31 MARCH 2024** |Notes
**FIXED ASSETS**
Tangible assets
6
Investments
7
**CURRENT ASSETS**
Debtors
8
Investments
9
Cash at bank
**CREDITORS**
Amounts falling due within one year
10
**NET CURRENT ASSETS/(LIABILITIES)**
**TOTAL ASSETS LESS CURRENT LIABILITIES**
**NET ASSETS**
**FUNDS**
11
Unrestricted funds
Restricted funds
**TOTAL FUNDS**|Unrestricted
fund
£
3,270
-
3,270
5,032
-
3,543
8,575
(21,540)
(12,965)
(9,695)
(9,695)|Restricted
funds
£
2,420,000
189,958
2,609,958
507,119
78,788
-
585,907
(272,991)
312,916
2,922,874
2,922,874|2024
Total
funds
£
2,423,270
189,958
2,613,228
512,151
78,788
3,543
594,482
(294,531)
299,951
2,913,179
2,913,179
(9,695)
2,922,874
2,913,179|2023
Total
funds
£
2,425,334
281,113
2,706,447
475,708
76,011
2,676
554,395
(281,877)
272,518
2,978,965
2,978,965
(5,091)
2,984,056
2,978,965| |---|---|---|---|---| The financial statements were approved by the Board of Trustees and authorised for issue on ............................................. and were signed on its behalf by: ............................................. A V Groves - Trustee The notes form part of these financial statements Page 8 **DAVID HENRY WARING HOME TRUST** ## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 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 2015)', 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 with the exception of investments and freehold property which are initially recognised at their transaction value and subsequently measured at their fair value as at the balance sheet date using the closing quoted market price. ## **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. ## **Tangible fixed assets** Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life. Freehold property - 2% on cost Fixtures and fittings - 25% on cost Freehold land and buildings, used for charitable purposes are shown at an "existing use" valuation in accordance with the revaluation policy adopted by the Charity. Other fixed assets are shown at historical cost. ## **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. ## **Investments** Listed investments are a form of basic financial instrument and are initially recognised at their transaction value and subsequently measured at their fair value as at the balance sheet date using the closing quoted market price. The charity does not acquire put options, derivatives or other complex financial instruments. Realised gains (or losses) on investment assets are calculated as the difference between disposal proceeds and their opening carrying value or their purchase value if acquired subsequent to the first day of the financial year. Unrealised gains and losses are calculated as the difference between the fair value at the year end and their carrying value at that date. Realised and unrealised investment gains (or losses) are combined in the statement of financial activities and are credited (or debited) in the year in which they arise. Other investments are included at cost, which is considered to be approximate to their market value. Page 9 continued... **DAVID HENRY WARING HOME TRUST** ## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2024** ## **2. INVESTMENT INCOME** |Rents received
Deposit account interest|2024
£
11,533
5,734
17,267|2023
£
7,937
684| |---|---|---| |||8,621| ## **3. TRUSTEES' REMUNERATION AND BENEFITS** There were no trustees' remuneration or other benefits for the year ended 31 March 2024 nor for the year ended 31 March 2023. ## **Trustees' expenses** There were no trustees' expenses paid for the year ended 31 March 2024 nor for the year ended 31 March 2023. ## **4. STAFF COSTS** The average monthly number of employees during the year was as follows: ## **5.** |2024
Administration
1
No employees received emoluments in excess of £60,000.
**PRIOR YEAR COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES**
Unrestricted
Restricted
fund
funds
£
£
**INCOME AND ENDOWMENTS FROM**
**Charitable activities**
Weekly maintenance charges
49,182
-
Investment income
8,621
-
**Total**
57,803
-
**EXPENDITURE ON**
**Charitable activities**
Charitable Activities
146,546
-
Other
369,927
-
**Total**
516,473
-
Net gains/(losses) on investments
-
(29,026)
**NET INCOME/(EXPENDITURE)**
(458,670)
(29,026)
**Transfers between funds**
303,273
(303,273)
**Net movement in funds**
(155,397)
(332,299)
**RECONCILIATION OF FUNDS**
Total funds brought forward
150,306
3,316,355
**TOTAL FUNDS CARRIED FORWARD**
(5,091)
2,984,056|| |---|---| ||| ||| ||| ||| ||| Page 10 continued... ## **DAVID HENRY WARING HOME TRUST** ## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2024** ## **6. TANGIBLE FIXED ASSETS** |**COST**
At 1 April 2023 and 31 March 2024
**DEPRECIATION**
At 1 April 2023
Charge for year
At 31 March 2024
**NET BOOK VALUE**
At 31 March 2024
At 31 March 2023|Freehold
property
£
2,420,000
-
-
-
2,420,000
2,420,000|Plant and
machinery
£
5,681
4,539
394
4,933
748
1,142|Fixtures
and
fittings
£
24,721
20,529
1,670
22,199
2,522
4,192|Totals
£
2,450,402| |---|---|---|---|---| |||||25,068
2,064| |||||27,132| |||||2,423,270| |||||2,425,334| There would be no potential tax liability if the properties were sold at current market value provided the gains were applied for charitable purposes. ## **7. FIXED ASSET INVESTMENTS** ## **8.** |**MARKET VALUE**
At 1 April 2023
Disposals
Revaluations
At 31 March 2024
**NET BOOK VALUE**
At 31 March 2024
At 31 March 2023
There were no investment assets outside the UK.
Cost or valuation at 31 March 2024 is represented by:
Valuation in 2023
This represents a portfolio of investments held with BlackRock.
**DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**
Trade debtors
Rebuild pre-spend
Prepayments and accrued income|Listed
investments
£
281,113
(95,000)
3,845
189,958
189,958
281,113
Listed
investments
£
189,958
2024
2023
£
£
355
1,702
507,119
469,463
4,677
4,543
512,151
475,708| |---|---| Page 11 continued... **DAVID HENRY WARING HOME TRUST** ## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2024** ## **9. CURRENT ASSET INVESTMENTS** |Investment fund
This represents a portfolio of investments held with CCLA.
**CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**
Trade creditors
Taxation and social security
Other creditors||2024
£
78,788
2024
£
15,660
90
278,781
294,531||2023
£
76,011| |---|---|---|---|---| |||||2023
£
12,338
158
269,381| |||||281,877| ## **10. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR** Included in Other Creditors is a loan of £272,991 (2023 - £262,531) from a charity with the same Corporate Trustee. The loan is considered as repayable on demand. ## **11. MOVEMENT IN FUNDS** |||Net|Transfers|| |---|---|---|---|---| |||movement|between|At| ||At 1.4.23|in funds|funds|31.3.24| ||£|£|£|£| |**Unrestricted funds**||||| |Revenue|(5,091)|(69,631)|65,027|(9,695)| |**Restricted funds**||||| |Fixed Asset|2,984,056|3,845|(65,027)|2,922,874| |**TOTAL FUNDS**|2,978,965|(65,786)|-|2,913,179| |Net movement in funds, included in the above are as follows:||||| ||Incoming|Resources|Gains and|Movement| ||resources|expended|losses|in funds| ||£|£|£|£| |**Unrestricted funds**||||| |Revenue|67,244|(136,875)|-|(69,631)| |**Restricted funds**||||| |Fixed Asset|-|-|3,845|3,845| |**TOTAL FUNDS**|67,244|(136,875)|3,845|(65,786)| |**Comparatives for movement in funds**||||| |||Net|Transfers|| |||movement|between|At| ||At 1.4.22|in funds|funds|31.3.23| ||£|£|£|£| |**Unrestricted funds**||||| |Revenue|150,306|(458,670)|303,273|(5,091)| |**Restricted funds**||||| |Fixed Asset|3,316,355|(29,026)|(303,273)|2,984,056| |**TOTAL FUNDS**|3,466,661|(487,696)|-|2,978,965| Page 12 continued... **DAVID HENRY WARING HOME TRUST** ## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2024** ## **11. MOVEMENT IN FUNDS - continued** Comparative net movement in funds, included in the above are as follows: |**Unrestricted funds**
Revenue
**Restricted funds**
Fixed Asset
**TOTAL FUNDS**|Incoming
resources
£
57,803
-
57,803|Resources
expended
£
(516,473)
-
(516,473)|Gains and
Movement
losses
in funds
£
£
-
(458,670)
(29,026)
(29,026)
(29,026)
(487,696)| |---|---|---|---| ## **12. RELATED PARTY DISCLOSURES** Included in Other Creditors is a loan of £272,991 (2023 - £262,531) from a charity with the same Corporate Trustee. The loan is considered as repayable on demand. Page 13 ## **DAVID HENRY WARING HOME TRUST** ## **DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2024** |**INCOME AND ENDOWMENTS**
**Investment income**
Rents received
Deposit account interest
**Charitable activities**
Weekly maintenance charges
**Total incoming resources**
**EXPENDITURE**
**Charitable activities**
Staff costs
Repairs and maintenance
Grounds maintenance
Heating and lighting
Council tax and water
Insurances
Telephone etc
Other expenses
Accountancy
Bank charges
Computer expenses
Plant & machinery depreciation
Fixtures & fittings depreciation
Bad debts
**Other**
Professional fees
Demolition Costs
Total resources expended
**Net expenditure**|2024
£
11,533
5,734
17,267
49,977
67,244
26,382
25,253
35,555
22,389
2,883
1,843
6,961
384
3,245
60
-
394
1,670
-
127,019
9,856
-
9,856
136,875
(69,631)|2023
£
7,937
684
8,621
49,182
57,803
24,085
55,509
22,507
17,739
4,092
4,537
1,319
1,621
10,775
30
92
343
1,670
2,227
146,546
30,740
339,187
369,927
516,473
(458,670)| |---|---|---| This page does not form part of the statutory financial statements Page 14