C J Gallard's Almshouses, Charitable Trust
Flnaneial statements for the year ended
31st December 2024
RegIS￿red Charity No.. 209787
Index
l General information
2 Report of the tNst¢es and statement of respon$ibiliti¢s
5 Ind¢p¢ndent examiner's reporE
6 Stai¢meni of financial aciiviiias
7 St8lement of financial aciiviues - 2023 cornpardtive
8 Balance sheet
9 Noles to the firtancial sta*ments

C J Gallard's Almshouses, Charitable Trust
General Information
Trustees.. The Charity Tn]St￿ who served during the year were as follows..
Ex-officlo
Reverend R Wilson
The y￿ar ofihe Parish ofst Thomas, Souihborough
Nominative
Mrs J Prance
appointed by Southborough Town Council
Councillor I. Poile appointed by Tunbridge Wells Borough Council
Mrs M. Morton
appointed by Tunbridge WelLs Borough Council
Co-optatlve (persons who have resided or Carried on business in or near
Southborough and appointed by the Tn￿le&S).
Mr G J Coventry (Vice Chair)
Mr N Powell
(Chair)
Ms D Hill
Mr A Langford
Mrs R Wisdom
Clcrk and Treasurer to the Trustees..
Mr Philip (Frdin8er
Almshouses, Manager:
Miss M L M¢Dowall
Address..
27 Gallard's Close. London Road, Southborough, Ken¢ TN4 ONB
Bankers..
CAF Bank Lirnited
25 Kings Hill Avenue, Kings Hill, West Malling, Kent, MEI 9 4JQ
Sollcltors..
B(Iles Wells
10 Queen Street Plac< London EC4R I BE
Accountants..
Begbies
Unit 14, Park Bam, Evegate Business ParL Smeeth, Ashford TN25 6SX
Member of:
The Almshouse Association
Billingbear Lodge, Maidenhead Roa(L WokinghanL Berkshire, RG40 5RU

C J Gallard's Almshouses, Charitable Trust
Report of the trustees and statement of responsibilities
Governance:
The Trust is a Registered Charity governed by Schemes made by the Charity
Commission having as its principal object the management of the properties known
as the C J Gallard's Almshouses, consisting of s¢lf-¢ontained flats in Gallard's
Close. London Road. Southborough, Kent, TN4 ONB. Applicants have to be men
and women of limited financial means over the age of 55 years who have r¢$ided in
Ihe Borough of Tunbridge Wells with priority given to applicAnts from
Southborough. The Charity is financed by Weekly Maintenance Contributions
{"WMC") from the residents. income from Investments and Ark Community Room
lettings and donations. Any surplus must be applied for the benefit of the residents.
The Trust is administered by a body of up to nine Trt￿lees which include the Vicar
of St Thomas's Church, Southborough, two persons nominated by the Tunbridge
Wells Borough Council, one nominated by the Southborough Town Council and five
persons who have resided or c8rried out business in or near Southborough.
The Trnstees believe that they have complied with the duty in section 4 of the
Charities Act 2006 to have due r¢gard to public benefil guidance published by the
Charity Commission and thai they comply with the Governance and Financial
Viability Standard published by The Homes & Communities Agency.
In addition to the trustee meetings held every two months. sub committees assemble
to agree on p)licy matters. obligations under charity law and to monitor the charity's
finances and fabric.
Review of activities:
During 2024 income from the Ark Community and Foresiers Rooms increased once
again. We were able to take on a numb¢r of new hirers for the Ark community hall
which increased our income further.
Following on from the Quinquennial rep)rt earlier in the year we were able to
ppoinl a contractor to carry out low level repairs and refurbishment which have
much improved the appearance of all the buildings.
A number of trnstees attended training courses run by the Almshouse Association
including "The Almshouse Way" which helps attendees gain an understanding of the
Alrnshouse movement and to share common issues.
The Trnstees agreed an incrc&sc in WMC of 6.3Yo from £116.10 to £123.50 for 2024
followin8 an increase of 7 0/0 the previous year. However. a non-ststutory valuation
carried out by the Valuation oifice Agency produced an equivalent fair rent figure
of £165 providing Trustees reassurance that our charges remain substantially lower
than the market level for compardble single bedroomed accommodation in the area.
During this period three flats be¢gme v8¢anL and it took some weeks to fill these
which meant a temporary drop in income from WMC. However. we Were able to
appoint three new residents who have all proved reliable and able to contribute to the
community in th¢ Almshouse.

C J Gallard's Almshouses, Charitable Trust
Report of the trustees and statement of responsibilities
The Almshouse Manager continued to organise social and fundraising events on
behalf of various local charities.
Financial review:
Total income rose to £175.756 in 2024, an incr¢&se of £12.735, which includes
£2.676 recovered in respect of prior year legal fees. Expenditure rose £16,574 to
£167.575. principally the result of much increased main*nance costs. The surplus
before investment revaluations was £8.181 (2023.. £12.020).
The prices of the Trust's income and accumulation invcstmcnts rosc, and the overall
value of the portfolio increased by £7.224.
Overnll. there is a surplus for the year of £15,405.
Reserves policy:
The Reserves held by the Charity support the main objective of the provision of
accommodation at C J Gallard's Almshouses for the benefit of eligible residents of
the Borough of Tunbridge Wells. The reserves, excluding the restricted Pennanent
Endowment Fund, Extraordinary Repair Fund and Restricted Fixed Asset Funds.
totalled £16.759. These Reserve5 enable us ¢0 meet cyclical maintenance costs and
in¢lude a provision for special projects and a general reserve. The Trustees. policy
is to hold a general ￿SerVe. in addition to the Pemunent End0￿IDent Fund and
restricted and designated funds and reserves, Cquivalent to three months, general
expenditure. That level stands at £4,420, an improvement of £4,885 on last year.
It is considered that the reserYe5 are adequate to cover kno%￿1 future needs.
Trustees, r¢spon$ibilitks in relation to the financial statements:
The charity trustees are responsible for preparing a trustees. annual report and
financial stalcments in accordance with applicable law and United Kingdom
Accounting Stsnilards (United Kingdom Generally Accepted Ae¢ounting Practice).
The law applicable to charities and registered social housing providers in England
and Wales requires the trustees to prepare financial statements for each financial
year which give a true and fair view of the stale of affairs of the charity &s ai the
balance Sheet date, and of its income and expenditure for that period. In preparing
the financial slatements the truste￿ are required to:
select suitable accounting policies and then apply them consistently:
observe th¢ methods and principl¢s in the applicable Charities SORP;
make judgements and estimates that are reasonable and prudent;
state whether applicable accounting standards have been followe(L subject to
any ma*rial departures that must be disclosed and explained in the financial
statements. and
prepare the a￿oUnts on the going concern basis unle&s it is inappropriate to
presum¢ that the charity will continue on that basis.

C J Gallard's Almshouses, Charitable Trust
Report of the trnstees and statement of responsibilities
The trustees are ￿SponSIble for keeping proper accounting records which disclose
with reasonable a¢cura¢y at any time the financial wisition of the charity and to
enable them to ensure lhat the financial statements comply with the Charities Act
201 I, the applicable Charities (Accounts and Reports) Regulations. the Housing &
Regeneration Act 2008 and the Accounting Direction for Private Registered
Providers of Social Housing 2015 and the governing documenL They are also
responsible for safeguarding the assets of the charity and hence for takin8 reasonable
steps for the prevention and detection of fraud and other irregularities.
Approval:
The rew)rt was fomally approved by the Trustees at their meetin8 held on 13 March
2025 and is signed on their khalf by:
Powel
Chair of Trustees:
13 Mar¢h 2025

Independent examiner's report
to the trustees of
C J Gallard's Almshouses, Charitable Trust
I report to th¢ truste¢s on my examinatK>n of th¢ a¢￿￿￿ts of C J Gallard's AlmsFL)uses' Charitable TrLLSt for the year
ended 31 December 2024 whieh are Set on pages 6 ￿ 15.
Responsibilities and basis of report
As the charity tnJst¢es of th¢ Trust you are reSp)n￿l￿Re for the pretmation of the ￿￿nts in aC￿rdAnCe with th¢
requirements of the Chariiies A¢1 2011 {Ihe Act?.
I rew)rt in resfft of my ¢xamination of the Tws¢e¢s' accounts carried out under 5￿tion 145 of the 2011 Act and in
CITryifi8 Out my ¢xamination I have followrd au th¢ applicable DirectKJLS 8iv¢n by the Charity G)mmtssioner und¢T
Section 145{5Xb) of the 2011 Aet.
IDdependeDt examiner's $tst¢menl
I hav¢ wmpleied my examination. I confirnj that ￿ material matters h4v¢ ¢ome to my attemion in connection with th¢
examination givitTrB me eaus¢ to beli¢v¢ that in any m￿trial Tesrrtt
(l) aecounlin8 r¢wrds were not kept in respeet of the Tn￿ as required by sedion 130 of the Aci. or
(2) the accounts do tkit ae¢ord with thox re¢ords,' or
(31 the accounts do noi comply with the applicable requ1￿MeNts LX)nc¢rning the forni and conteni of &c¢ounts Set out
in the Ch￿l1]eS (Accounts and Reponsl Regul&tion5 2008 oth¢r than any requirement that the occounts give a
true and ftiir vi¢W which is not a matter eonsider¢d as part of an irtdependcnt examin*ion.
I hav¢ no con¢errLS and hav¢ come across rKJ other matters in ¢onnectioth with the examination to %thi¢h attention should
be drawn in this rcwjrt in order to enable a proper understanding of the accounts to t¢ reached.
D¥nlel Valentlne ACA
Begbles
CharieredA¢eounlonts
Unit 14
Park B8rn
Evegaie Business Park
Smeeth, AJhfoTd
TN25 6SX
. 2025

C J Gallard's Almshouses, Charitable Trnst
Statement of financial activities
for theyear ended31st December 2024
Tot81
31 Dee
21124
Totsi
31 Dec
2023
EThdtswmeDt Res¢rirt*J Design*ted UDrestrided
I￿ndS
thd
Notr4
llleome frorn:
Charitable activities
- Weekly maintenance Contributions
Other activitie5
- Ark CommurtÉty Room lettings
tA)natLofL5
Investrnertts
Other- r¢￿Very of legal c4)sts
Tot#] Income
3ffj19
156,746
160J65
150.572
3.707
3,767
300
8,648
2.676
3.472
700
8.277
3,413
5232
2h76
3,413
3,922
168.421
175.756
163,021
Expenditur¢ on:
Ch8ritsble activities
- Almshouses, expenditure
- Cyclical maintenance
. Management and administration
Inter¢si payable
Tot*1 expendliure
93￿78
93,578
20.112
34.822
19.063
69,595
15,460
46,017
19,929
20,112
34,822
19.063
20,112
147,463
167,575
151,001
Net Intom¢ befor• g•inJ Ind
losses on inveJtmeDts
3,413
(16.190)
20,938
12,020
GAlng1(10sges) on Investment •$8ets
3.743
3,481
7224
3,671
Net In£omel(expeudlture)
3.743
894
{J6,190)
20,958
15,405
15.691
Transfers between fvnd$
14J73
(16.073)
N•t movement In funth
3.743
21367
{14th90)
4085
15.405
15,691
R•coD¢lll4¢lon of thnds:
Total fund5 brought forward
Tot*1 futtds c*rried forwArd
13
2,091J711
27.029
465
2329,820
2,214,129
£2.229.820
13
£115.429
£2,113,037
£12J39
£4.421)
12245,225

C J Gallard's Almshouses, Cbaritable Trust
Statement of financial activities
for rheyear ended 3Jst December 2023
Comparative
Tot&1
31 Dec
21n3
dowment
Rutrirted Deslgnlted Inrcstricted
funds
fund
No¢¢5
Ineome from:
Charil&ble activities
- Weekly mainknatKe cotrtribution
Other artLYlties
- Lettings
Donations
LDV¢Stm¢nts
3,562
147,010
150,572
3.472
3.4n
700
8,277
3J76
4,901
Tot91 Incomt
3J76
4.262
155383
163,021
Ex￿ndIt￿re on:
Chhritable aetivities
- Almshouses, cxpenditwe
Cyeli¢al maintenance
- Monagemeni and admini$lrn¢ion
Interest payable
Total expendlture
69.595
69.595
15,460
46.017
19,929
15,460
46,017
19.929
15,460
135,541
151.001
Net ltseome before g4lng and
losses on investme*ts
3J76
(11,198)
19.842
12,020
GaIn￿{lo$S¢s) on Inveltment *uets
1,877
3,671
Net ltse¢)mtl(eSP¢Ddlture)
1,877
5.170
(11.198)
19,842
15.691
Triwferj between fun
13.706
(13.706)
Net movement Its funds
1.877
18.876
(11,198)
6,136
15,691
Reeothelll*tlon of fundq:
TO￿ funds brought forwwd
Total thDds earrlod forward
109.809
2,072.694
38,227 ￿6 601)
2,214,129
465
£27,029 £2,229.820
£111.686
£2,091,570

C J Gallard's Almshouses, Charitable Trust
Balance sheet
31st December 2024
Nota
21n4
2023
Tangible fixed *s*ets
2J14J26
2,314.326
InvtSttneD
21JO,770
2(M).133
Current
De￿Or$
c￿ at bank and in hand
380
19.807
20.187
195
19.787
19.982
Creditors: Amounts falling due
within one year
N¢t ¢urr¢nt liabilitles
21.17
20.130
983
148
Total Itsa eurrent li8bili¢ies
2 J14,113
2.514,311
Creditors: Amounts fa]ling du¢
after mor¢ ihan one year
Other creditOf5
268388
284,491
268W8
284,491
£2245225
£2,229,820
CAplt*l And reserves
Unrestricted fvnds
Genernl reser¥¢
Designated reservcs
Restricted fjxed ass¢1 fimds
Other restrictcd funds
P¢nnan¢n¢ ¢ndowm¢
12&13
13
13
13
13
4A20
12 J39
2.0298J8
83.199
115,429
(465)
27.029
2,015.265
76.303
111.686
£2245325
£2.229.820
Appn)ved by the Trusteey on 13 Ma￿h 2025
d on th¢ir behalf by
Mr iy Powell
Chfilr
Mr G J Coventry
TnLSt¢e

C J Gallard's Almshouses, Charitable Trust
Notes to the fmancial statements
3JJt December 2024
l AttountiDg pfrlie
(a) Bafis ofpreporaho
The accounts have been prepared in accordanLf with i) the Sthtrment of Re￿rnMended Practice: A¢counting
and Reporting by CharitiCS Preparing thEir aceounts in accordance with the Fina￿1&7 Reporting Stsndard
applicable in th¢ UK and Rcpubli¢ of Irela[￿ (FRS 102) published on 16 July 2014. ri) the Financial
Reportin8 Standard applicable in the UK and Republic of Ir¢land IFRS 102) iiil the Charities Act 2011.
The finan¢ia] ststements have been prepAred under the histotieal ws¢ wnventiO￿ as adjusted for the
revo]uatioTr of inv¢stsnents.
Th¢ tryst Con￿lIuteS 4 public benefit entity as defitt￿ by FRS 102.
) Sto￿10ry ba
The charity is a re8istered charity with the Charity Comrni5$ion and th mernber of the National Association of
Almshous¢5.
(¢) Goingc0p￿rn
The truste¢s consider that there are no mawial urtewtsinties aknut the tNsfs ebilty ¢0 continue a5 a 80ing
C4)n¢ern.
(dj Income (ucluding inveslmepugairtT)
Income is reeognÈsed once the chprÈty has entltlement w the itkcome, there L$ SUtTi¢ient c¢rtainty of receipt
and 50 It is probabl¢ ihe irthme will be received and the amount of in¢om¢ receivable can be m¢Asured
reliably.
(e) Erpenditsr*
Expendilure is rewgnised once there is a le8a] or constructive obligation to m¥ke a payment to & third pary,
it is probable thai sertlemenl will be rtquired and the amount of the obliwion can be mea5UTed reliably.
Yalue odded lor
The charity 15 not registered for value added Where applicthle. ex*itur¢ is shown in¢lusiv¢ of VAT
Hotssingproperti
Thc fr¢¢h)Id latKI and 0ri8inai 20 flats (￿M$h￿e9} we tre&ted &8 t￿T￿lt81]￿l &8s¢ts and included 81 nil
Yaluol¢ost. Subsequent addilion5 improvement expenditure are stated at (x)st and include attributable
finance costs during the development wiod. Subsequent finance LX)Sts we written off in the statement of
f￿anci¥l activities.
No depreciation is AS the 81mshous¢5 well-m8intsined. hv¢ a long-life and a stron8 residual
value, any depre<1￿10￿ would be immatrrial.
The charity only has financial &ssets fiDanciai liabilities of a kind qualify as ba5i¢ financial
instruments. Basi¢ financial i[￿tn￿￿et￿ are iniiially reCo￿lS¢d at tratLsa¢iion value and subsequently
measured at their settlement value. Bank loans are Subsequ￿tty M￿ured at aMorti￿1 wst using the
¢fYectiv¢ interest method and investments are sub5equerrtly measured at their markd valu¢ as at the balanc¢
sheet dare using the closing q￿ted mark¢t price.

C J Gallard's Almshouses, Charitable Trust
Notes to the financial statements
31st December 2024
(i) Jprv¢$DMents
All gains and losses are takm ts the statanem of fIna￿l&l activities as they arise. Realised gaits and losses
on investsnents are u]culated a5 the differen¢e bthwe¢n sa]cs pr(*eeds and their tspenin8 canying value or
their purchase value if acquÉred subw4u¢ni ￿ the first day of the financial year. Unreaiised gains and losxs
are calculated as the dIffer￿￿e ￿*t¥￿en fair value At the year end and their carrying va]ue. Realised and
unrealisd inv¢stm¢nl gains arwl lossts combirttd in th¢ 5tat¢menl of fu￿￿111 activitie&
Designa¢edresétveJ
Dcsignated r¢s¢rv¢s are part of WeStri￿ funds ￿1th hve been e4rnwW by the Tn￿te¢S for a particutsr
Pur￿se. Such designathons may b¢ reversed by future Trustee dexL510n5.
(k) R¢strietsdreJer¥
R¢stri¢¢ed fill￿$ are those wed for particular pur￿$¢5. narrower than the overall ¢haTitsble purposes of the
charity.
2024
2023
2 Income And eIp¢Ddi¢￿r¢ from tharlt*ble *etivitles
Weekly rn8lntenaDce comtributlOD$
160J65
130,572
Almghouses, expendlture
Wages and salari¢s IT￿1¢ 4)
Routine m&intenance and servi￿$
Careline
Garden costs
Utilities (w4t¢r, elxtricity and w)
Insurance
TV licence
27,789
37,1S9
SJOO
&128
12.280
2054
29.226
13.71%)
5.596
6.139
11.628
2.956
60
£93J78
£69.595
Cycll¢•l m•lneeniD¢e
£20,112
£15.460
Ex¢r*vordln•ry repjlr flllld
MAnagement *Dd *dmlthi¥tntio
Wages and Salaries (note 3)
Fees and subscrioions
Tel¢phon¢ and TT
A¢countsn¢y & independcrrt exarnination
Le8al and professional fe¢s
St&ff trairting and serninar5
Trav¢1 & subsisience
Trustees, expenses
Bank charges
Administration and sundry expenses
17,077
16,928
1,250
5.109
3,570
14.950
5J30
3th90
4,073
161
249
698
66
3.093
£46.017
73
2,920
£34022
Interut p*y8bk
£19,1163
£19,929
Exp¢Ddhure eh*rlt#bie *etivitia
£167J75
£15l.001
Net ineomt from eh*ritsble *ctivrtits
731
£1429)
10

C J Gallard's Almshouses, Charitable Trnst
Notes to the financial statements
31si December 2024
Residents are not tenants benefictaries of th¢ Charity utk&r conditions of a li¢ence ￿ o¢cupy an Almshouse
flat. They pay a weekty mainl¢na￿e contribwion (WMC) for the maititen#n¢e atKI s¢tvices provided in
ac¢ord8nce with the detsils laid down in the Reside[￿, HandbooK their lictrtee and original letter of offer. Th¢
WMC rate is determined by the Tr￿ on a non.prtsfit making basis.
Vaun¢ flats usually arising from death or from a resident no longer being capoble of independent living. are
filled from a list of appli￿lts who have 4Jpli¢d to come and live at Ga]lard'$ C105c. Void losses therefore only
arise from th¢ period betwttn a tlat falling Y￿atht and a neww¢sid¢nt bein8 able to tske up OC¢UP*iOEL
2024
2023
3 Stsff eolts and try$tees' remuntrntion •nd tipetss
Gross wage5 and salari¢$
Employers, t)aiional in$uranc¢
Employment allowance
44,865
46.154
3J61)
3,408
L3J60[ ￿3,4081
£44065
£46.154
Allocaied L% follow7..
Almthouse5' expetKlitur¢
Mana8em¢nt and adMinis￿l0n
27,789
17.077
£44166
29,226
16,928
£46.154
Avern8e no of employee5
No trustees rK¢ived any rtmur*rnti￿ in the year (2023..£nill. Expenses of £nil wrre reimburs¢d in the year
(2023= £413).
2024
2023
4 Investment Income
Bank itjierest
Dividend income
199
8,449
£8.648
176
8,101
£8.277
£3.413 (2023.. £1,376) of dividend intome relatrs to inv¢51menrs allocatrd to th¢ reswictrd Extra-ordinary fund.
All other investsnent income i5 unr¢thtrd ineome.
S Tgxatlon
C J Gallard's AlrnslKJuses' Ctwitable Tn￿￿ is a re8iSt¢red Chrity aTrJ. as su¢K is ￿1￿￿(1&1[Y exempt frsm
taxation of its income and gains fallin8 within Income Tax Act 2￿7 Part 10 and the T￿tion of Chargeoble
GaLn5 Act 1992 $.256 to the extent that they are 8ppli¢d to its ch8ritsble obj¢¢tives. No ￿ liability arises it) the
year.
11

C J Gallard's Almshouses, Charilable Trnsl
Notes to the financial statements
31st De¢ember 2024
6 Tangible fixed *ssets
Freehold
property
Ai I st January 2024
At 31st Decemlxr 2024
2J14J26
2J14?26
Nel book volmt..
At 31$t December 2024
£2,314J26
At 31st December 2023
£2,314,326
The Charity owns the freehold of the land a¢ th¢ Jur￿l0n of London Road and Yew Tree Road in SouihboroU￿,
Keni with 26 flats (alrTL%hou5esl therein, one of which is occupied by the Almshouses. Monager. which is part of
the PernwJ¢nt EtklowTh¢nt. The lat)d is vested in the Official Custodian for ¢haritiu by virtu¢ of the Scheme of
Regulatvjn dated 2 January 1914 wnfirnieA tn a rvlised Sch¢me dthj 15 April 1969.
7 Investments
IYAtlots*l A$8oei*tlon or
Almihouses Commo
Inv¢stm¢nt Fllnd
Type of share$
Income Accumul￿10Tr
Mark¢¢ val
TotAI
At 1st Janu8ry 2024
Additions
Disp)s&ls at etrryÉn8 valu¢
Unre&lised SUTplus on revaluation
At 31st Deeember 2(124
111.686
88.447
3.413
110.0001
3,481
200,133
3,413
(10,000)
7.224
3.743
£1 IS429
185J41
£200,770
At 31st December 2023
£109.809
£83.277
£200,133
The investtnenls eowise Income aryl A￿￿n￿lat￿)n shares with the Natiortal As50fiation of Almshouses
Common InvestThRnL Fund INAACIF), adminiskred by M&G Securities Limited. Whi]st the Charities Ad 1992
divests r¢$wJn3ibility for investh)et￿ ￿ the Charity T[￿￿tee$. the Income units are all￿ated to th¢ P¢tThanent
EThdowThenl Fund ond are Reththed capital U[￿er Charity Commission control ond any ¢xp¢ndiwre could be
$ubject to r¢¢oupmwt orders. The Accumulation units are 8]loc￿ed to the Extr-ordtnary r¢pair fimd and are
Restrirted Capit￿ under the trustees, control. to the multitude of small aquisitions over many years it is not
prnctical to dctcrmine historic cost.
2024
2023
8 D¢btors
Prepayments and attrued income
195
£380
£195
12

C J Gallard's Almshouses, Ch¥4ritable Trust
Notes to the financial ststements
31st December 2024
2024
2023
9 Creditors: Arnounts failing due wtthin one y¢ar
Loan rePa￿ents due in less th#n l year
PAYE & NIC
A￿n￿lS
15,600
1880
3h90
14,570
1.990
3.570
£20,130
£21,170
10 Creditorj: Amounts fallin8 du¢ 4ft¢r more than one year
Th¢ Charity
Bank Limitrd
2024
Totsl
2023
Total
Loans
£268.888
£268,888
£284,491
Loans are vepayable &s follow5..
B¢￿ten one and two years
Between two and five year5
After more than five yeArs
16.645
56,882
195.361
1&64S
56,882
195J61
15.600
S3.312
215.579
£268.888
£26&888
£284,491
The loons from The Ch￿lty Bank LirniteA ccffjprising adv8nce5 of £150,000 in 2011, £175,000 in 2012, and
£140,000 in 2013 are rewable over 25 years and are seeurtsj On the frtthold propety. Interest is payable at
6.S¥d per onnum.
I I Anal￿1$ of net AOtts ￿tWeeTh thDds
2024
Endowthtnt
futtd
Restrleied
DeslgDated UnrTs¢rl¢ted
fund
Tot81
TAn¥lble nxed •ssets
Investments
Cash *t
Other net turrent iMtt#
Creditor5 > l yur
2J14J26
85J41
2J14J26
2￿￿,770
19.807
{20.790)
268,888
£2,245225
11SA29
12J39
7368
777
(27J67)
£1 IS.429
£2.113.037
£12J39
£14,245
2023
nd
Tangible frxed &s5¢ts
Investm¢nts
Cash at bank
Other n¢t Current assc
CTediiors > l year
2J14,326
88.447
2.314,326
200,133
19,787
(19.9351
(284,491)
£2,229.820
111.686
27.029
{7,242)
6.777
{26,712)
(284.4911
£2,091.570
£111.686
£27,029
£{465
13

C J Gallard's Almshouses, Charitable Trust
Notes to the financial statements
31st December 2024
12 Genernl reserve
At 1st January 2024
Surplu5 for the year
(465)
2Q958
Transfer5 to restri¢t¢d fixed asset reserves
Ch￿lty Bank IoAn r¢p4yments
Boiler fimd
Transfer
(14J73)
16.073)
At 31st December 2024
£4,420
At 31st December 2023
£14651
13 Movunent of fu￿dI
Ftsttd
balan
Lvfwd
Fund
balAntes
elfwd
G*ltt* *nd
10sseJ TrADgferg
IDcom¢ Eip¢ndltur¢
2024
Perminertt F￿Thd
3,743
J15,429
R¢J¢ri¢t¢d flxed Anet funds
Property fund
an reserve
2J14J26
99061
2J14J26
(284,4818
1,029838
14.S73
21115365
14J73
Other reytricted funds
Extra4)rdinary repair fund
3.413
3,48]
83,199
76JQS
3,413
3,481
,199
Unrestrlrted fun
G¢neTal reserve
14651
168A21
{147,463)
(16m3}
4.420
Unrestrlcted dulgn*t¢d fund*
Cyclical m&inteThance fund
sp￿1￿ proj¢cts fimd
Boiler fjjnd
24067 .
3th19
(2Q112)
8J74
2,462
IJ03
2.162
I￿￿}
27029
3,922
(20,112)
I￿￿)
12J39
TOTAL
2329J2
17S756
(167575)
7324
2345325
PermaDent eDdowrnent fuDd
The Permanent endown¢nt fimd comprises the freelK)Id prDpty held at no va]ue and th¢ ing)m¢ share type invth¢nts.
Re5Èricted f￿•d xsset fvods
The restricted fixed &8set fjJnd5 repres¢ni the trustees. InVeskne￿ in housing pft)perties less the outstanding balan¢¢ on the
Charity Bank loan.
14

C J Gallard's Almshouses, Charitable Trnst
Notes to the financial statements
31st De¢ember 2024
Kxtr*thordin•ry fund
The extrd.ordinary repair fimd is used for expenditure on nMior repair5 or significant improvements and comprises
accumulalion share type investsnents.
Cy¢lic*l
The Cyclical Mainten￿¢< fund is retained by the tnLSt¢es to prtivide for regular upke¢p. including int¢rn￿ and external
repair and re-decoration.
Special projects fund
Thc Special projects fi]nd is used for ¢¥￿￿]lUre only on w1￿1Y tiUth￿ projects.
Fund
Fund
balances
fwd
Gains and
losses
Income FJpenditswe
TranAfer8
2023
Pennanent EndoMYn¢nt Fund
109.809
1.877
111,686
Resiricied fixed asset
ProF¢rty fijnd
Loan res¢rve
2J14.326
312.767
2,314.326
13.706
1299.0611
2015,265
2.OOIJ59
13,706
Other restricted fut
Extraaordinary repair fund
71,135
3.376
76905
71.135
3.376
76J05
Unrestri¢ted fvnd$
(knerAI reserve
{6,601)
155 J83
(135J41)
(13.706)
(465)
Unrestricted designaied fiJnd5
Cycli￿] tnaintettan¢¢ ￿nd
Spccial projects furtd
36.765
1.462
3.562
I IS,460}
24,867
2,162
700
38227
4.262
{15,4601
27,029
TOTAL
2,214.129
163,021
(151,0011
3,671
2,229.820
14 ixg•l costs
The cllarity has incurred legal ¢o$ts to d* of £89.049 in COr￿e￿I0￿ with the termination of a licence to 0￿UpY one Of the
flats. Th¢ ¢haritys legal acuon w&% Su¢¢ess￿l and it w&$ awarded costs of £59.629 plus interest at BOA (from June 2022) in
August 2022. £2,676 h&8 been T￿0Vered to date. Recovery of the balat)¢e is believ￿1 to be extremely uncertain and thereft)re
in accordanrx with the Stat¢m¢nt of Recommended Prxticc, th¢ income h&s N)1 been recogniswj in these accounts.
15