CHARITY OF SARAH, DUCHESS OF MARLBOROUGH
ACCOUNTS FOR THE YEAR ENDED
31 WIRCH 2025
R•gi#tèred Charfty Numbfrr. 209340

CHARITY OF SARAH. DUCHESS OF MARLBOROUGH
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
Page
Key Personnel and Advisor8
Tru$tegs' RgPQrt
Independent Examlnefs Report
Statement of Finar￿la1 Activilies
Balanc8 Sheet
Noles to the Financlal Ststemenls
16

CHARITY OF SARAH. DUCHESS OF MARLBOROUGH
KEY PERSONNEL AND AOVISORS
FOR THE YEAR ENDED 31 MARCH 2025
TRUSTEES
MsUDun
Mrs E R H8rrfs
Mr D Sèllèrs
CllrJ A Tayhr
Cllr DrA F Wen
CLERK TO THE TRUSTEES
MrMRoth
OFFICE ADDRESS
48 Martborough Buildings
H8ffield Ro8
St Albans
Herttordshira
AL13RW
ALMSHOUSE ADDRESS
1&88 Madborough Builrfings
Haffigld Road
st. Alb8nS
H&rtrordshirg
ALA 3RW
ACCOUNTANTS
Mefcer& Holg LLP
72 Lond<yt Road
St Albans
AL1 1NS
BANKERS
BarGlays Bank PIC
Lockey House
St. Peters Street
st. Albans
Hertfordshire
AL13AL
SOLICITORS
Taylor Walton SolicAlors LLP
Thorny¢roft House
107 Holywell Hill
st. Albans
Hertfordshi
AL1 1HQ
INVESTMENT ADVISORS
CCLA Investrnent Management knmited
One Ange] Lane
London
EC4R 3AB

CHARrrY OF SARAH, DUCHESS OF fMRLBOROUGH
TRUSTEES. REPORT
FOR THE YEAR ENDED 31 MARCH 2025
The Trustees have pleasure in presenting their Annual Report and Finanriai Statements of the charity for
th8 yearended 31 Mar¢h 2025 The financial statements have prepared in accordance with the
accounting policie5 set out on page5 10 to 12 arKt comply with the charity's trust deed. the
Charities Act 2011 and Accounting and Reporting by Charities-. Slalement of Recommended
Prach'ce applicable to chariJes preparing their accounts in accordance with the Financial Reporting
Standard applicable in the UK and Republic ol Ireland {FRS 102) {effeclive October 2019).
OBJECTS OF THE CHARITY
The objects are as set out in the scheme of the Htgh Court of Chancery of the 3 June 1867 arKI in the
matter of the Charitable Trust Acts 1853 10 1939 and the Scheme approved for the regulation of the above-
mentioned Charity sealed by Order of the 8oard on 2nd day of September 1955.
They are the prOVi￿On and continuing maintenance of the almshouse in Haffield Road. Sl Albans for the
benefit of poor persons of goocl tharader and over 60 ye8rs of age.
PUBLIC BENEFIT
Whèn p18nnlng the charity's 8Ctlvities. the trustees have considered the Charity Commi88ion'8 guidance on
public benefft. and the trustees believe that the activity of the charity and the services that rt provides do
constitute public bene
TRUSTEES
The trustees who have Served during the year and since the end ot the year are as follows".
Mrs J Chamock (reslgned 10 Aprll 2024)
Ms U Dunlea
Mr B W Glbbard Ireslgned 20 January 20251
Mr D J Goo(lridge (r8signed 4 March 2025}
Mrs E R Harri$
Mr D Sellers
Mrs J Smith (appointed 27 June 2025)
Cllr J A Taylor
Cllr DrA F￿en
STRUCTURE. GOVERNANCE AND MANAGEMENT
The Charity of Saiah, DuGhes5 of Marlborough is a registered charity llumljer 209340. 11 is govemed by
Board of Trust￿, which is ￿SPOnsible for the strategic direction of the charity and for establishing policy.
Appointrngnt of TrustO05
The 8cherne allow8 for nlne trustees. One exdficlo who Is the Mcar for the tlme belng of tl)e Ecdesia$lical
Parlsh of St. Leonards. Sandridge. Two Represenlalive Trustees appointed by Sl. Alban$ and District
Counal for a term of fouryeors and six Co-optstive Trustees for a tem of five yeats by the Resolution of
the Trustees The CcFopt8tive Trustees shall be persons res]ding or canwng on business in or near the
Cty ofst Abans.

CHARI￿ OF SARAH, DUCHESS OF MARLBOROUGH
TRUSTEES, REPORT (Continued)
FOR THE YEAR ENDED 31 MARCH 2025
Then considering new trLL8t80s. the Boar(I has Tegard to the requirement for any speaalisl skills n88¢J8d.
New Twslaes ￿r￿arg0 an induction PrO￿8S to brief them on their legal obligations under tharity law. the
Charfty Commls&on guidance on Public Benefft, arKJ infomi them ofthe content ofthe Stheme. the
deCI￿on-ma￿￿g proces5 and the rerEnt financia perfomjance ofthe charity.
Oryanlsatlon
The Board meets up to 5 limes a year and there are sub-commllte85 covering r8$id8nts, finance and
eslales The Twstees have appointed a Clerk to cary outth8 day to day management.
OUR AGTIVITIES. AGHIEVEMEltrs AND PERFORMANGE
The charity operates in a Grnde 2 listed building. providing arrnmmodatI￿ y￿1h1n 35 sew-contained
8lfflshouse fl8ls, maintaining tho property and gwuunds ¥nd providing u)mmun81 f8cllities fcf the t￿efft of
residents.
The actNfaes undertaken to support these aims remain broadty gmi18rfrom yearto year. These indude
carying out planned maintenance and upgrade proie(as in order that the alms-how accommodation
meets the nesd$ofr8*dwts.
The trustees are aware of the need lo balance the preservalion of the Lyjilding with the provision of
accommodation that meets currenl standards. Accordingly. Ihe Trustees hava adcpted a Fdlcy of r•talnlng
fiJThJs to ensure ihal the fabric ofthe building and ar£0Mmtra￿10n Is propety malntsined.
Quinquennial suw are e8rried out every 5 ye8ts lo deleminethe requirements and thus of major repair
works ofthe Charity. The next quirq¥Jenrrial suNey 15 scheduled for 2026r27.
A kng-lern finanrial plan is mainta.ned to ensurelhatknds are teirvJ in a wto alkywfor
term maintenar￿wQlkS to be carrted out.
FINANCIAL REVIEW
most recent a¢counts cover year ended 31 March 2025-comp8rative acuunts coverthe 12 months
p&lod from 1 April 2023 to 31 March 2024. Totsl income forthe period was £295.50512024. £250.6111.
Total expanthiure on Ihe chari￿s acbvihes in Iha year was £180.840 coM￿led with £127.577 in the previoLtS
period.
In the general unrestricted fiJrKI. there wa5 a su￿uS for the year of £49,576 {2024: £240,55n y￿th the
decrease due lo an unrealised loss on rovaluation of investsnonts compared to a gain in the prfor year.
Overall, theTewas a surplus (general, and endovmwtt) forthe year of £46.125 {2024'. surplus £246,788)
afterts￿n9 a(zount ol movement in invegtrnent V81LkS &i%n9 durin9 the wiod.

CHARrrY OF SARAH. DUCHESS OF MARLBOROUGH
TRUSTEES. REPORT (Continued)
FOR THE YEAR ENDED 31 MARCH 2025
The market value of the Charitys COIF Fund investments decreased in the year by £68.54012024.
£123.754 increase) bringirKJ the totd market ofthe pothlto in the to £1.402,522 as at 31 Marth
2025131 March 2024.. £1.471.061).
The Iru5tee5 are ￿eaSed th8 firwKial perfL￿￿O forlhe year. wlmch Ind￿ thatth8 urthrfwng
finarKial pwbon of the Charity is satisfactory.
The 899 of the Charfty's wopety asset is gjch thet deta18 ofthe 0￿(nal o)st ore unavailable. The tnlslees
see no usetul pufpose in eslimalirg current usage values for property ofthis typ6 and. therefore. the value of
freehc4d propety is not refiected in the finanaal statements. The sum in5LEred for the butldings at 1&88
Haffield Road. is Cu￿￿£8.874.099.
Investment Pollcy and Perforniance
There are no restsicti¢Jns on the Charivs power lo invesL The investrnerrt 04ective of the trustees is to
combine inccffle and capital gr￿ in a conseNative manner. The finance committee Tegularfy seeks
professlonal athee on the allti¢ati¢Jn of investments.
The assets of the Charfty have bpen dlvkled Into thefolkmlng fun(ts:
1. Capital- Endovmi•nt Fund
This is th8 Charivs permanent capital base arxl onlythe income arisry from ful￿ may be
expended ¢)n thè Chafttys otfjeds.
Major Repairs- Designated Fund
Thisfijnd can be ubTisgJ lo finaT￿ nOn-r￿Urring repair5. ReL¥rt surveys I[K￿Ztelhatthi5 ftUKIwi￿ L
ci)nwm￿l wilhin the merfium iem).
General Fund
This represents the day to day aclNty ofthe charityar￿ can te ublised by theTn&stees aslhey see ffit
This is currenty invested in the COIF Chwibes Investrnentfvnd. the Bardays Bank Currentrnnt
and ts Bardays Bank Business Savera%wnL
The truste8S o)ntinueto Wieve it is prudentto maintsin reserves atttms Iwd. Trs wll ccntiwlo b8
reviewed annually as part oflhe kng-tenn plan.
R•sorv66
£704.89512024" £587.972) at 31 Matt*t 2025. trusiees 5ealo m&rthn Lmrestsicted reserves ata levd
that wll allowthe day lo day opwakn of the 8lm5hcu5e to ccrfinue fOr1￿fr)TeSeeableftJlU￿ and current
level of reseNes 15 consistentwith this. The trustees are aware that larger One￿ projeL*s will require some
inveslmorrts to be reatised.

CHARITr OF SARAH. DUCHESS OF MARLBOROUGH
TRUSTEES. REPORT (Continued)
FOR THE YEAR ENDED 31 MARCH 2025
RISK MANAGEPJIENT
The Trustees continue lo considerthe major risks to %thieh thè Charity is exposed and go Satisfi￿ that
systems are in placelo mrb"g*8 those maten.al risks.
PLANS FOR FUTURE PERIODS
A plan is being implomented lo *nhanc• the fire rosislance of the Chority'$ prgmi$o$. Thero are no
other major projects planned for the immediate luture.
TRUSTEES RESPONS81UTIES IN RELAnoN TO THE FINANCIAL STATEMEiirs
The charity trustees are resporv3ible for preparing a Trustees. Annual Report and the finanaal statements
in accordance with apPlica￿e law and Unitad Kingdom AccountFng Standards IUnil8d Kingdom Ganerally
Accepted Accounting Practice).
The law applicable to chanties in En9land & Wales requires the tnjstees lo prepare financAal statements for
each financial year which give a Irue and fair view of the of the charity and of the incoming resources and
application of resources of the chanty lor that Feriod. In prepanng these finarrial statements. the trustees
are required to:
al setect surtable accounting policAes arKI then apply them con3i3tenUy',
bl obseThe the methods and princAples in the Charilies SORP..
cl make judgments and estimates that are reasonable and prudent.,
dl state whether applicable accounling standards have been followed, subject to any material
el departures discloged and explained in the financial st8lemenl$.
f) prepare the financial statements on the golng concem basis unless it is inappropriate lo presume
that the charity will continue in operatÉon
The trustees are responsible for keeping proper aecounting reccids that rfisclose with reasonable
accuracy at any timethe financial position of the charity and to enable them to ensure that the
finanual statements comply with the Charities Act 2011. the Charity IAccounts and Reports)
Regulations 2008 arid the provisions of the tnjst deed. They are also responsible for 8afegu8rding the
assets of the ch8rity and takirya reasonable steps for the prevention and detection of fraud and other
irregularibes.
Approved by the trustees and signed on their bghalf
Dr Allison F Wren

CHARrrY OF SARAH, DUCHESS OF MARLBOROUGH
INDEPENDENT EXAMINER'S REPORTTO THE
TRUSTEES OF THE DUCHESS OF MARLBOROUGH CHARrrY
I report to the charity tn￿eets on my examinabon of th& acix)unts of the charity for the year ended 31
March 2025 whiGh are set out on pages 8 to 17.
Respon51bllltles and basls of roport
A8 the charit￿8 tfustees you aro re$pon$ibla for th• preparation of thg accounts in accordance the
requirements of the Charities Act 2011 (Ihe A¢f).
I rew>rt in respect of my examination ofthe thari￿S accounts carried out uni5er section 145 ofthe Act and
in carrying out my examination I have followed all the ap￿ICable Direction5 given by the Charity
Commisston under section 145{5){b) of the Act.
Indopondont examlnefs ststsmènt
I hav& eomplètad my examlnatl¢)n. l eonfirm that no materral matters have como to my attèth.on In
connection wth the examination giving me cause to bdieve that In any matertal respect
accounttng recordswere not kept in respect of the charity as r8quir8d by section 130 of the Act or
the a¢¢ounls do not accord Mth those records., or
the accounts do not comply wth the applicable requlrements conceming the form and content of
accounts set out In the Charifjes (Accounts and Reports) Regvlats"ons 2008 other than any
requirement that the accounts give a and fair vievl which is not a matter eonstdered as part of an
independent examination.
I have no concerns and h8ve come across other matters in (￿neth0n with the examination lo
aitenlion sh(JJld be drawn in this r¥port in order to enable a proper understanding of the accounts to be
reachecl.
st•v• Robinson FCA
Institute of Chartered Accountants in England and Wal8S
72 London R08d
StAlbans
AL1 1NS
Date 14 January 2026

CHARITY OF SARAH. DUGHESS OF MARLBOROUGH
STATEMENT OF FINANCIAL ACTIVITIES
FOR THE YEAR ENDED 31 MARCH 2025
General
Unrnstrtetsd
Fund¥
Endowment
Fund
Total
Year ended
31.3.25
Total
Year ended
31.3.24
INCOME AND ENDOWMENTS
Charifable adivitses
Conlribulion$ by Residents
228.￿9
228.909
207,797
Invesim&nl Inely￿". . Inter8St
- Dividends
24,858
24,858
40.008
3.146
39.418
Olher Income
1,730
Totsl Incom
295.505
250611
EXPENDITURE
Charitable Actlvltles:
OperatM ofAlms-house
180.840
180,840
127,577
Total Expenditurè
180.840
180.840
127.577
Net In¢omollExpendlturn)
before other recognised
galns and losses carrlod
forward
114.665
114,665
123,034
Unr•alis4d and rgallsed
gainsl{lossesl on investrnent
assets
165,0891
{3,451>
168,$40)
123,754
Net Incomol{Exp•ndltuml
49.576
{3.451>
46.125
246,788
Transfers betsyeen funds
Net Movement Tn Funds
49.576
{3.4511
46.125
246.788
Fund balances brought
forw3rd 1 April 2024
2.059.032
2152836
1.SYJ6,rM8
Fund bafancos carrfed
forward 31 Mar¢h 2025
12
2,108.60B
9Q.353
2 198,961
2.152.838
The Statement of Finanual Activitie5 indudes all Gains and Losses recognised in the year.
AU the ab)ve results a￿ derNed from o)ntinuing activibes.
The notes on pages 10 to 17form Fartof th8s8 fin8na81 staternents.

CHAR￿ OF SARAH, DUCHESS OF PIARLBOROUGH
(Regi¥tered Gharlty Number 209340)
BALANCE SHEET AS AT 31 MARCH 2025
31.3.25
31.3.24
Notes
FIXED ASSErs
Tangible assets
Inveslments
1,191
1471061
1,403,713
1,471,Cffj1
CURRENT ASSErs
Dèbtors
15,408
704.452
Ca8h at bank in han(1
799.292
828,052
719,860
CREDITORS: Arnountsfalling du¥
38.085
withÉn one year
NET CURRENT ASSETS
795.248
681,775
N￿ASSEr$
2,198.981
2.152.836
CHARITY FUNDS
GeneT81
1.711.893
1,662.318
Designated FurKIs.'
Major Repairs Fund {fomw
Emergency repoii lundl
Utility Fund
396.715
396,715
Total Unrestrleted Fund&
10
2.f08.60B
2.OSg.033
ENDOWMENT
Capital Fund
11
TOTAL CHARITY FUNDS
2.198,961
2,152,836
Approved on bohalf of tho Tn￿￿8&
DrAllison F Wren
Tnp noies on page5 9 to 10 TO￿ pan ofthese flnanclal S￿leMents.

CHARrrf OF SARAH, DUCHESS OF MARLBOROUGH
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
ACCOUNTING POUCIES
Ba818 of A¢¢ountlng
P¥8ch￿. A¢￿Un￿n9 and Rep)rtllig by Chartbe$ pr8paring their accounts in ac(y)nlance with Financial
Reportin9 Slandard appllcable In the UK and Republlc of Ireland IFRS 102) on 1 0￿9b￿r2019
8nd the Financial Rewrung StsniJar¢ applicable In the Unlte(I lfjngdom and R8publtc of Irthnd
IFRS102), the Charii*s Act 2022 a￿1 UK Ge￿ralY Ac£apted Prathe.
The Charfy Lvnstiluks o publicentiiy as defined by FRS102. Th8 Trustees con&derthatlhere ale
material unc8rtairth8 about the atilfy to conknuo as a going ￿ne￿n.
Jud9ements and key source# ofestlmatlon uncertAlnty
The preparation ofthe financ•al statements requires Man89￿lentI0 makeNidg8ments. esimates and
as5umpil￿S that aff￿￿ Ihe amounts reported for8ssets liat4"r￿"eS as al Ih8 bala￿e sheet date and the
amounts reported revenues 8nd expense8 during1h8 ye8r. Tr thre of estirnotion mean5 that aLlual
outo)rne8 ¢ould thfferfrom tlwse esttmates. The follwng jU￿ements have had a significant effect on
amounts rea)gnlsgJ trj the tjnandal S￿*men￿.
Froohold Property
Th• ofthe ChariVs propety assets 18 suth that details ollhe ￿91￿1 ¢ost ar• unavallabl8. Tr Irustees see
no usefvl purpose In estimating OJfTent usage values for prcFerty of this type and. therefore. the value offreehokl
propty is not refflected in the fjnBnc4al state[￿.
TanglbEo flx•d as￿8 and depr8ciatson
All 8&%ets arArt from freehold prcm oJ8Ur¥J rm than £1.CIY) 8r& rApilaltsed and valued al hbtoric cosL
Deprecjabon is tharoed on eXistti￿ aquiprrEnt C￿ a str8ighl-fin& b8$ig Over tts esbmated ￿￿11 lrfe of 10 years.
the tftèstees a&sess thatfaw valug 16 less than ngl book the a58ets a￿ irwwted.
Investmonts
Invesfvnts arè indudèd wrfhin Ihe Ba￿n￿ sheet at the Ma￿lValUe e¥isliThJ at the BJan¢e Shtei d*. The
stat8m8nt offinanaal arth￿e$ ind￿Je$ the net gains and Jossès arisiNJ eA) rèvauation and dIspos￿$ durin9 the

CHARTfY OF SARAH, DUCHESS OF MARLBOROUGH
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
{Contlnued)
ACCOUNTING POUCIES Icontinuedl
Incom• Rocognition
Al income is Tecognised On￿ the charity has entitlemenl lo the intsrymè. Ihèrè is ènough cartainty of rèc£ipt and
so it probable that the income will be received, and the amount of iwthme rece￿able (an be measured Teliabty.
The followng sp￿fic povcies are 8pplutAe to thgories of irwme:
Investment Income is ir￿1￿led within the Finanwl Slatements on 8 gross basis. irtdudin9 cr•dit for tax
deducaed at source. for amoLuts TeceNable at the Balan￿ ￿eet date.
Contributions from R￿idsnts ar8 itKaudad in the Slatemenl of Financ4al Adivities in the period on a
ra¢8ivablè basis.
R•alis•d gah￿ and loss•s
All gains losses are taken to the 5tateTTth of finanaal ￿[1¥1￿5 as they arise. Realised gains and lJ$5es on
investrnents are L*kyJlèted as the belween sales proceeds and their opening ¢8rying v8lue orthÉir
purthasevalue rfwuired sub5equenttothefit5t day ofthe finanoal year. Urtre8lised ga￿$ and losses are
calcuL9ted 881he (Iff￿8￿ b8b4w ttwrt8rv4ug 8tlhè y￿end a)d Ihe(rcanwngYth. RealLwJ ￿ L￿reakn1
gan5 *et))mbin&J
Exp•ndltur•
Liabiltbes are recconised as experKll￿re as soon as IFEre is a IwJal or constnJc*ve obl￿atIon ￿rnmrtts"r￿ th8
rity to tst exFEn¢AttJre, itis pr￿￿b[8 1h8ls811l8Th￿I￿II rw4Ul￿. aThJ the an￿untof0b1Vkn?n can b
mèasu￿￿ reliatly.
All exPendi￿r￿ is a(munt•d foron an actswfs basis. •xpenses, SUPFXJrtcrJsts and govemance ￿8t$,
ar& allsxated or apporttoned to the applicable expendtture heading8 in the slattrment of fin¥nrial activitie¥.
Charftable actlvltles
CharflaNe expendlbJre ojmprtsesthose LThts inDJrred try Ihe thatity in ts ddiwyofits *￿V￿e$a￿l Serv￿5￿
costs of8n inthrecl naiure, necessary lo Sup￿ them.
lo¢ation ofsupportond g4Mmanc• costs
Costs that arg directy ailribulabte afe reallocaied on a Charitab￿ actswty ba813 and SUP￿rt costs then addgd.
Central administration and support costs are apportioned lo the tharil•ble 8¢tivrliès on a i•asonabl• and
consistent basis
Irrecovernble VAT
Irreoiveoble VAT is d*rg¢d against the expenditure h￿dIng forwhith ilvms inGUtred.
io

CHARITY OF SARAH, DUCHESS OF MARLBOROUGH
NOTES TO THE FINANCIAL STATEMENTS
FOR ThE YEAR ENDED 31 MARCH 2025
(Continu•dl
ACCOUNTING POUCIES 1¢ontIn￿dI
Funds Structuro
unreStrk￿j incom8 fur¥Js c￿npl15e those funds whith Ihe lJustees ate fTPÈ lo use torany puwJs& in furtherance
of the charitable objectivés. Unrtststded funds indu(le ￿e￿gnated funds where the Iruslees, at Iheir discretion.
have cre#ted 8 fvnd for ¥ $peofi¢ pufpos•.
Th9 capital gndowmonl fijnd 15 the charity5 pe￿an8￿1 caprt81 base and Ihe income arising from Ihis fvnd May
be expended on the charivs objectives.
Furtherdetalls of ea(*b fund are dk%dosed in Note 12.
Debto
Trade and other deblorB arg rgcognised al lh¢ settl¢m¢nt amount due afier any trade discounl offered.
Prepayments arevaI￿￿ at the am￿ pyepaid net ofanytrth <fjsc>)lwttd￿.
CaBh at bank and In hand
Cash at bank and cash in hand indtjdes (xsh and short tsrm hÉghly liquid investments that are readity
Cr•ditQTS artd pro¥iBt<)ns
Credltcrfsarwj prov[si￿are recoJ15￿ %there the tharity a preSentobW￿1 resulw from a w￿{tha(￿lI
probabty resutt in the transfer offunds to a third party and the arno￿t due to Sett￿ the ot4iga*on can be measured
or estimated reI￿bty. Creditors arKI PTOVi5ions are n¢xmaUy recO￿lse￿ atlheir settlement amount after dI￿￿1n9
fDT anyltade discounls due.
Financia5 instruments
The charity (￿lY has financial assets 8nd financi81 li8bilittes ol 8 klnd that quar￿ as basle flnandal
instruments. B88%¢ fin8n¢ial instrumènts are initially recognised at trans8ci¢on v8lue and $ubsequÈnlly
measured al arnUrti5￿ LX)St LksIr￿ Ihe effethe ￿lterest method.
CHAR￿ABLE STATUS
The chartty is Tegister&J wilh the charity commi&sK)n, ￿gIstratIon number209340 and in consequence it is exempt
from taxation on irKomtr ari8iTh3 from and oxpended on its charitable actiV￿e6.
CONTRIBUTIONS BY RESIDENTS
Totsl
2025
Total
2024
MainlenanL* conlributp)ns
li

CHARrrf OF SARAH, DUCHESS OF MARLBOROUGH
NOTES TO THE FINANCIAL STATEMETrirs
FOR THE YEAR ENDED 31 MARCH 2025
IContInu￿)
ANALYSIS OF EXPENDITURE ON CHARITABLE AGnviTY
Operdting
costs of
Alm•hou*e¥
Support
and
governance
costs
31.3.25
Opernting
costs of
Alm•hou¥•*
Support
and
gov•m*ne•
Costs
31.3.24
Proparty.
repalrs.
refLtrrbishment
and
malntenar
Light and heat
Insurar
Watei charges
Garden and
tree
malntenance
General upkeep
sub￿ripl10n8
Council tsx
Legal and
piofess50nal
WMC Collecbon
fees
Sundry
èxpènst8
51.396
51.396
45.733
45.733
67,027
5.038
3.063
6,014
67,027
5,038
3.063
6.014
34,755
5.199
3.459
3,865
34,755
5,199
3.459
4.748
889
3,567
18.05B
22.806
889
3.567
13,288
3,206
892
2,548
16.272
19.478
892
13.288
4,694
4.694
6.537
6.537
6.000
1.215
1,215
954
954
149.494
31.346
180,840
106.611
20.966
127.577
Support and gOv•Man￿ ¢osts IIn¢lUd￿ •l>ov•l:
31.3.25
31.3.24
CleTk's fees and experEses
Independgnl examination fee
Legal and Professional
18,058
5,821
7.767
16.272
31.346
20.966
12

CHARITY OF SARAH. DUCHESS OF MARLBOROUGH
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
{Contlnued)
5. PAYMENTS TO TRUSTEES
The Trustees receNed no rwnunerabon for thairwob* 88 Tn￿te•S in either the current or prec4din9 period.
During Ihe period rK) tN5tee5 re￿iVed reimbur5ementfor expenses.
TANG18LE FIXED AsseTS
Cost at 1st Aprtl 2024
Addityons
Dis￿819
Cost at 3181 Mard) 2025
1.3110
Dep￿cIall0n at 1st Aprfl 2024
Depreuation charge for the year
Elimination on disposals
Depreciation al 3151 Marth 2025
11091
Net Book Value at 31st March 2025
FIXED ASSETS INVESTMENTS
Deslgnated
Funds
Endovfflignt
Fund8
Total
Co¥t
At 1st April 2024
Addilions
Disposals
At 31 March 2025
777.347
26.326
803.673
777,347
26.326
803.673
Market Valu
At lai April 2024
Additions
Disposals
Gainl(los$l on investments
At 31¥¢ March 2025
1.397,001
74.061
1.471.062
65,089
1 331 912
3.451
70.610
68.540
1.402.522
Loss on investments compiise unrealised losses on Tevalu8tion to market V81ue of £6B.54012024: Nel gain$
£123.754) 8t￿ reaÉised gains on dispoS￿S Df investments of£Nil (2024". £NII.
13

CHARITh OF SARAH, DUCHESS OF MARLBOROUGH
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
(Continued)
Details of material inveslmenl are as follows:
% Vgluè of
Portrofio
COIF Charity Fund8
Income un5ts
100%
DEBTORS
31.3.25
31.3.24
Amounts due from Residents
Prepgyments and ac¢ryed income
3.684
11.724
32.760
32.760
15.408
9. CREOITORS: AMOUNTS FALUNG DUE WITHIN ONE YEAR
31.3.25
31.3.24
Trnde C￿ditorS
Accruals and dof•rrnd incomo
204
32.600
5.795
32.290
32,804
38,085
14

CHARTr1 OF SARAH, DUCHESS OF MARLBOROUGH
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
{Continued)
10. ANALYSIS OF MOVEMENTS IN UNRESTRICTED FUNtYs
%lo¥ement In funds
Balance
Incoming
at l April resources
2024
Ex￿nd￿re
G8in8. Loy
& Trnnsfers
Balance
at31
March
2025
General Fund
1.662.317
295,505
(180,840)
(65,089)
1,711,893
Designated Funds
Major repairs fund
396.715
2.059,032
396.715
2 108.608
180.840
65,089
The Mapr Repairs Fund Ifom7erty Emergenuy Repair Fund) was (xeated to finar￿e n￿-reCUrring repairs.
11. ENDOWMENT FUND CAPITAL
The c2pilal fund FS the charity's pe￿anent capital base and the in(x)me arising from t￿S fund may be expended
only on the charitys objects.
12. ANALYSIS QF NET ASSETS BETWEEN FUNDS
Unrestricted
General
Unrestricted
Designated
Endowment
Fund
Total
Funds
Fixed Asset Invesljnorrts
Net currnnt assets
916.845
795.248
396.715
90.353
1,403.713
795,248
1.711.893
396.715
90.353
2,198.961
31.3.25
31.3.24
Unrealised galns on Inveslmont a￿•ts In¢lud•d abové:
Unrealised yair55 as at 1# April 2024
14et 94ln8111088e8} on revaluatlons durlng the year
1.069.083
{68.540)
945.329
123.754
Unreali$ed gains a$ at 31* March 2025
1.01)0.543
1.069.083
15

CHARtrY OF SARAH, DUCHESS OF MARLBOROUGH
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
(Continued)
13. ULnMATE CONTROLUNG PARTY
The Trusts08 ¢on11nu¢ to èxeTdse fAXrtToI overthe affalrs of the ¢harity.
14. RELATED PARTY TRANSACTIONS
No other Telaled party tron$8¢lions gro$e lrt the ¢urrenl ptrriod or preceding year.
15. FINANCIAL INSTRUMENTS
31.3.25
31.3.24
FlnancSal assets
Financtal assets meaSLtred at fair value through profit or loss
Financial assets that are debt instrumenis measured at amorlised
st
795.262
704.452
T95,262
704,452
Flnan¢l81 Llabllltle¥
Finartciaj liabilibes measured at amotlised
{32,8041
138,0851
32.804
38.085
16