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2025-12-31-accounts

REGISTERED CHARITY NUMBER: 210074

REPORT OF THE TRUSTEES AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025

FOR

THOMAS PHILIPOT'S ALMSHOUSE CHARITY

Edwards Chartered Accountants 409-411 Croydon Road Beckenham Kent BR3 3PP

THOMAS PHILIPOT'S ALMSHOUSE CHARITY

CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025

Page
Reference and Administrative Details 1
Report of the Trustees 2 to 4
Independent Examiner's Report 5
Statement of Financial Activities 6
Balance Sheet 7
Notes to the Financial Statements 8 to 13
Detailed Statement of Financial Activities 14 to 15

THOMAS PHILIPOT'S ALMSHOUSE CHARITY

REFERENCE AND ADMINISTRATIVE DETAILS FOR THE YEAR ENDED 31 DECEMBER 2025

TRUSTEES C Couves
D Crafter
Ms J Gearing
P Glazebrook
D M Nooney
Ms M Roberts
Ms A Stebbings
Ms M Garrod
Ms S Robinson
D Riley
PRINCIPAL ADDRESS Philipot Path
London
SE9 5DJ
REGISTERED CHARITY 210074
NUMBER
INDEPENDENT EXAMINER Edwards Chartered Accountants
409-411 Croydon Road
Beckenham
Kent
BR3 3PP

Page 1

THOMAS PHILIPOT'S ALMSHOUSE CHARITY

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2025

THE CHARITY

Thomas Philipot's Almshouse Charity is an unincorporated charity, which exists under a Charity Commission Scheme of 14 November 1871 as varied by Schemes of the Commissioners of 22 July 1887, 16 August 1940, 5 September 1963, 14 December 1976 and 24 October 1980.

THE TRUSTEES AND CLERK Colin Couves David Crafter Maura Garrod Janet Gearing (resigned August 2025) Peter Glazebrook David Nooney (Chair) Ronald Pratt (appointed February 2025) David Riley Megan Roberts Sue Robinson Angela Stebbings

Clerk to the Trustees: Linda Clayton

According to the requirements of the Scheme, up to eleven Trustees may be appointed, seven of which must live in Eltham, or within seven miles its parish church, and four of which must live in Chislehurst, or within four miles of its parish church.

When vacancies arise on the Board of Trustees, the remaining Trustees consider which skill set is required. Prospective trustees meet the Trustees beforehand and Trustees will then decide whether to elect them to the Board. If more than one Trustee applies to fill the vacancy, then a vote is held at a Board meeting.

The Trustees meet six times during the year. These meetings are supplemented by regular meetings of committees charged with overseeing specific areas of responsibility: finance; maintenance and health and safety; and applications for residency. This expanded committee structure reflects the growing complexity of the Trustees' responsibilities for ensuring good governance. The latter requires the Trustees to regularly review the Charity's range of policies and procedures and, in consultation with the residents, to introduce changes which are of benefit to the functioning of the Charity and the interests of the residents.

PROFESSIONAL ADVISERS

Estate Surveyor: Richard Thomas, R.T. Property Services Ltd, 1 Ely Gardens, Tonbridge, TN10 4NZ

Accountant: Edwards Chartered Accountants, 409-411, Croydon Road, Beckenham, Kent, BR3 3PP

The Trustees present their annual report together with the audited financial statements of Thomas Philipot's Almshouse Charity (the Charity) for the year. The Trustees confirm that the report and financial statements of the charity comply with the current statutory requirements, the requirements of the charity's governing document and 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) (Charities SORP (FRS 102)). The Legal and Administrative information on page 1 forms part of this report.

OBJECTIVES AND ACTIVITIES Objectives and aims

The object of the Charity is to provide high quality housing to poor persons of good character residing within the ancient parishes of Eltham and Chislehurst, and to maximise the benefits for residents in accordance with the Charity's governing Scheme.

Page 2

THOMAS PHILIPOT'S ALMSHOUSE CHARITY

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2025

OBJECTIVES AND ACTIVITIES

Significant activities for achieving objectives

There is a statutory obligation on the Trustees to demonstrate achievement in public benefit. The Trustees consider they fulfil this obligation by meeting the above objectives and by fostering good relationships between the Almshouses and the local community. During the year six new almspersons were appointed.

The Trustees are keen to foster a strong sense of community and the Warden arranges regular activities to ensure that residents become friends, support each other and have lives as fulfilling and outward looking as possible. This includes regular breakfast get-togethers, fish and chip lunches, soup lunches, ploughman lunches, coffee mornings, afternoon teas talks and barbeques. Residents also celebrated Christmas and Easter with parties.

Residents are also encouraged to meet independently, including informally in the lounge, and to organise their own clubs. During the year a weekly Craft Club, Keep Fit, Singing Club and Bingo have met.

Great importance is given to fostering good relations with the local community. This has included regular contact with Eltham Park Baptist Church, , Sisters of Mercy and the local primary and secondary schools. Activities with the schools included concerts, carol singing, teas and hamper deliveries. The residents help with the Sisters of Mercy's fundraising efforts and other events have supported both national and local charities, including marking Remembrance with an event to fundraise for the Royal British Legion.

The communal gardens are exceptionally maintained and provide an oasis for the residents and their visitors to enjoy. The recently built outdoor patio area was built serves as a focal point for residents to meet informally outside and outdoor games have been introduced. A Friends and Family day was held where family members and people with strong associations to Philipot's were invited to come together for a barbeque, which was greatly enjoyed. Residents are also encouraged to have a small area of the garden to tend, should they wish.

The Trustees give priority to the health and safety of residents and to maintaining the fabric of the buildings to a high standard. This included the installation of fire doors during the year.

This report provides a welcome opportunity to express appreciation for the loyal, determined and enthusiastic support given to the Charity by all the staff: The Clerk to the Trustees, Linda Clayton; the Warden, Anne Weston and the Warden's Assistant, Kara Berry and Premises Manager, Matthew Byfield, who lives on-site. The Charity could not run as successfully as it does without the dedication and expertise demonstrated by these Charity employees. The Trustees are also very fortunate for the support and professionalism of the Charity's professional advisors, surveyor Richard Thomas and Edwards Chartered Accountants. Their advice throughout has been much valued, as has the advice of the Almshouse Association. Lastly, and self-evidently, the Charity's effectiveness depends upon a committed body of Trustees with the necessary skills and expertise. All give unstintingly of their time and experience to what is a worthy cause.

FINANCIAL REVIEW

Financial position

The financial position of the Charity remains healthy and sufficient to absorb contingencies. Despite the continuing cost of living crisis and increased energy costs the Charity achieved an end of year operating surplus. An increase in the value of investments will enable the Charity to undertake a significant programme of structural improvements in 2026.

Reserves and investment policy

The Trustees have an agreed policy to maintain, in all circumstances, sufficient cash reserves to meet projected, budgeted expenditure for a minimum period of two months. This level of cash reserves will be reviewed regularly and adjusted where necessary, both in terms of amount and time period, in the light of the Charity's financial performance, interest rates and investment fund values, inflation and financial markets sentiment.

The Trustees have adopted an investment policy in which they seek to strike, in their investment fund decisions, the optimum balance between risk and reward always having regard to the Charity's particular need for probity and prudence. This is achieved through the maintenance and management of a portfolio of investment accounts with differing fund profiles of interest earned, risk and accessibility. This portfolio is reviewed regularly and adjusted as necessary in the light of the Charity's financial performance, economic conditions particularly levels of growth and inflation and consequent investment fund values and financial markets sentiment.

Page 3

THOMAS PHILIPOT'S ALMSHOUSE CHARITY

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2025

STRUCTURE, GOVERNANCE AND MANAGEMENT

Governing document

The charity is controlled by its governing document, a deed of trust and constitutes an unincorporated charity.

Risk management

The Trustees regularly review the major risks to which the Charity is exposed and have adopted a policy under which all areas of possible risk are regularly reviewed and any necessary action taken. They are acutely aware of their obligation to ensure good governance of the Charity's affairs through the Trustee Code of Practice adopted in 2011. They regularly review their range of policies and procedures.

Approved by order of the board of trustees on 6 August 2026 and signed on its behalf by:

D M Nooney - Trustee

Page 4

INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF THOMAS PHILIPOT'S ALMSHOUSE CHARITY

Independent examiner's report to the trustees of Thomas Philipot's Almshouse Charity

I report to the charity trustees on my examination of the accounts of Thomas Philipot's Almshouse Charity (the Trust) for the year ended 31 December 2025.

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

Since your charity's gross income exceeded £250,000 your examiner must be a member of a listed body. I can confirm that I am qualified to undertake the examination because I am a member of the Institute of Chartered Accountants in England and Wales, which is one of the listed bodies.

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.

John Duggan FCA The Institute of Chartered Accountants in England and Wales

Edwards Chartered Accountants 409-411 Croydon Road Beckenham Kent BR3 3PP

6 August 2026

Page 5

THOMAS PHILIPOT'S ALMSHOUSE CHARITY

STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2025

Notes
INCOME AND ENDOWMENTS FROM
Other trading activities
2
Investment income
3
Total
EXPENDITURE ON
Trading activities
NET INCOME
RECONCILIATION OF FUNDS
Total funds brought forward
TOTAL FUNDS CARRIED FORWARD
CONTINUING OPERATIONS
2025
Unrestricted
funds
£
334,917
44,215
379,132
161,029
218,103
1,150,298
1,368,401
2024
Total
funds
£
324,685
34,664
359,349
268,661
90,688
1,059,610
1,150,298

All income and expenditure has arisen from continuing activities.

The notes form part of these financial statements

Page 6

THOMAS PHILIPOT'S ALMSHOUSE CHARITY

BALANCE SHEET 31 DECEMBER 2025

Notes
FIXED ASSETS
Tangible assets
7
Investments
8
CURRENT ASSETS
Debtors
9
Cash at bank and in hand
CREDITORS
Amounts falling due within one year
10
NET CURRENT ASSETS
TOTAL ASSETS LESS CURRENT
LIABILITIES
CREDITORS
Amounts falling due after more than one year
11
NET ASSETS
FUNDS
13
Unrestricted funds
TOTAL FUNDS
2025
Unrestricted
funds
£
176,529
1,073,434
1,249,963
7,363
178,489
185,852
(26,540)
159,312
1,409,275
(40,874)
1,368,401
1,368,401
1,368,401
2024
Total
funds
£
176,529
700,714
877,243
6,063
329,724
335,787
(21,004)
314,783
1,192,026
(41,728)
1,150,298
1,150,298
1,150,298

The financial statements were approved by the Board of Trustees and authorised for issue on 6 August 2026 and were signed on its behalf by:

D M Nooney - Trustee

The notes form part of these financial statements

Page 7

THOMAS PHILIPOT'S ALMSHOUSE CHARITY

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025

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, with the exception of investments which are included at market value.

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 - not provided

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.

Pension costs and other post-retirement benefits

The charity operates a defined contribution pension scheme. Contributions payable to the charity's pension scheme are charged to the Statement of Financial Activities in the period to which they relate.

continued...

Page 8

THOMAS PHILIPOT'S ALMSHOUSE CHARITY

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2025

2. OTHER TRADING ACTIVITIES

Weekly maintenance contributions
Utilities receivable
INVESTMENT INCOME
Interest receivable
Investment income
2025
£
290,129
44,788
334,917
2025
£
10,017
34,198
44,215
2024
£
281,629
43,056
2024
£
281,629
43,056
324,685
2024
£
7,784
26,880
34,664

3. INVESTMENT INCOME

4. TRUSTEES' REMUNERATION AND BENEFITS

There were no trustees' remuneration or other benefits for the year ended 31 December 2025 nor for the year ended 31 December 2024.

Trustees' expenses

There were no trustees' expenses paid for the year ended 31 December 2025 nor for the year ended 31 December 2024.

5. STAFF COSTS

The average monthly number of employees during the year was as follows:

Wardens, clerk and gardener
No employees received emoluments in excess of £60,000.
COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
INCOME AND ENDOWMENTS FROM
Other trading activities
Investment income
Total
EXPENDITURE ON
Trading activities
NET INCOME
2025
4
2024
4
Unrestricted
funds
£
324,685
34,664
359,349
268,661
90,688

6. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES

continued...

Page 9

THOMAS PHILIPOT'S ALMSHOUSE CHARITY

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2025

6.
COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued
RECONCILIATION OF FUNDS
Total funds brought forward
TOTAL FUNDS CARRIED FORWARD
7.
TANGIBLE FIXED ASSETS
COST
At 1 January 2025 and 31 December 2025
NET BOOK VALUE
At 31 December 2025
At 31 December 2024
8.
FIXED ASSET INVESTMENTS
MARKET VALUE
At 1 January 2025
Additions
Reversal of impairments
At 31 December 2025
NET BOOK VALUE
At 31 December 2025
At 31 December 2024
Unrestricted
funds
£
1,059,610
Unrestricted
funds
£
1,059,610
1,150,298
Freehold
property
£
176,529
176,529
176,529
Unlisted
investments
£
700,714
240,000
132,720
1,073,434
1,073,434
700,714

There were no investment assets outside the UK.

The investments at the balance sheet date consisted of:

Extraordinary Repair Fund - invested in 4,677 (2024: 4,677) M&G Charity Multi Asset Fund accumulation shares and these are shown at a market value of £659,089 (2024: £566,220).

Current Account Investments - invested in 48,646 (2024: 46,802) M&G Charity Multi Asset Fund shares and these are shown at a market value of £414,345 (2024: £134,494).

continued...

Page 10

THOMAS PHILIPOT'S ALMSHOUSE CHARITY

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2025

9. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

9.
DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2025
£
Trade debtors
78
Other debtors
3,164
Prepayments and accrued income
4,121
7,363
10.
CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2025
£
Trade creditors
2,608
Other creditors
23,932
26,540
11.
CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2025
£
Other creditors
40,874
12.
LOANS
An analysis of the maturity of loans is given below:
2025
£
Amounts falling due in more than five years:
Repayable otherwise than by instalments:
Other loans more 5yrs non-inst
40,874
13.
MOVEMENT IN FUNDS
Net
Transfers
movement
between
At 1/1/25
in funds
funds
£
£
£
Unrestricted funds
General fund
991,684
253,419
(15,000)
Cyclical maintenance fund
21,847
(12,887)
10,000
Hardship fund
28,151
168
-
Lift renewal fund
65,785
-
5,000
Extraordinary repair fund
42,831
(22,597)
-
1,150,298
218,103
-
TOTAL FUNDS
1,150,298
218,103
-
2024
£
65
2,799
3,199
6,063
2024
£
1,625
19,379
21,004
2024
£
41,728
2024
£
41,728
At
31/12/25
£
1,230,103
18,960
28,319
70,785
20,234
2024
£
65
2,799
3,199
6,063
2024
£
1,625
19,379
2024
£
65
2,799
3,199
6,063
21,004
2024
£
41,728
2024
£
41,728
1,368,401
1,368,401

continued...

Page 11

THOMAS PHILIPOT'S ALMSHOUSE CHARITY

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2025

13. MOVEMENT IN FUNDS - continued

Net movement in funds, included in the above are as follows:

Unrestricted funds
General fund
Cyclical maintenance fund
Hardship fund
Extraordinary repair fund
TOTAL FUNDS
Comparatives for movement in funds
Unrestricted funds
General fund
Cyclical maintenance fund
Hardship fund
Lift renewal fund
Extraordinary repair fund
TOTAL FUNDS
At 1/1/24
£
847,650
41,591
28,151
60,785
81,433
1,059,610
1,059,610
Incoming
resources
£
378,964
-
168
-
379,132
379,132
Net
movement
in funds
£
159,034
(29,744)
-
-
(38,602)
90,688
90,688
Resources
expended
£
(125,545)
(12,887)
-
(22,597)
(161,029)
(161,029)
Transfers
between
funds
£
(15,000)
10,000
-
5,000
-
-
-
Movement
in funds
£
253,419
(12,887)
168
(22,597)
218,103
218,103
At
31/12/24
£
991,684
21,847
28,151
65,785
42,831
1,150,298
1,150,298

Comparative net movement in funds, included in the above are as follows:

Unrestricted funds
General fund
Cyclical maintenance fund
Extraordinary repair fund
TOTAL FUNDS
Incoming
resources
£
359,349
-
-
359,349
359,349
Resources
Movement
expended
in funds
£
£
(200,315)
159,034
(29,744)
(29,744)
(38,602)
(38,602)
(268,661)
90,688
(268,661)
90,688

continued...

Page 12

THOMAS PHILIPOT'S ALMSHOUSE CHARITY

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2025

13. MOVEMENT IN FUNDS - continued

A current year 12 months and prior year 12 months combined position is as follows:

Unrestricted funds
General fund
Cyclical maintenance fund
Hardship fund
Lift renewal fund
Extraordinary repair fund
TOTAL FUNDS
At 1/1/24
£
847,650
41,591
28,151
60,785
81,433
1,059,610
1,059,610
Net
movement
in funds
£
412,453
(42,631)
168
-
(61,199)
308,791
308,791
Transfers
between
funds
£
(30,000)
20,000
-
10,000
-
-
-
At
31/12/25
£
1,230,103
18,960
28,319
70,785
20,234
1,368,401
1,368,401

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
Cyclical maintenance fund
Hardship fund
Extraordinary repair fund
TOTAL FUNDS
Incoming
resources
£
738,313
-
168
-
738,481
738,481
Resources
Movement
expended
in funds
£
£
(325,860)
412,453
(42,631)
(42,631)
-
168
(61,199)
(61,199)
(429,690)
308,791
(429,690)
308,791
Resources
Movement
expended
in funds
£
£
(325,860)
412,453
(42,631)
(42,631)
-
168
(61,199)
(61,199)
(429,690)
308,791
(429,690)
308,791
308,791
308,791

14. RELATED PARTY DISCLOSURES

There were no related party transactions for the year ended 31 December 2025.

Page 13

THOMAS PHILIPOT'S ALMSHOUSE CHARITY

DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2025

INCOME AND ENDOWMENTS
Other trading activities
Weekly maintenance contributions
Utilities receivable
Investment income
Interest receivable
Investment income
Total incoming resources
EXPENDITURE
Support costs
Management
Rates and water
Telephone
Postage and stationery
Advertising
Sundries
Alarms
Maintenance charges
Cleaning
Computer costs
Travel
Subscriptions
Gardening
Office equipment
Refreshments
Surveyors
Training
Voids
Accountancy
Insurance
Light and heat
Mortgage interest
Legal fees
Human resources
Wages
Social security
Carried forward
2025
£
290,129
44,788
334,917
10,017
34,198
44,215
379,132
19,294
(56)
196
-
1,517
13,457
69,898
3,150
727
95
1,089
2,045
2,566
338
14,256
1,156
3,108
11,094
6,545
21,281
5,337
-
177,093
81,971
346
82,317
2024
£
281,629
43,056
324,685
7,784
26,880
34,664
359,349
13,930
962
145
756
2,002
13,457
105,471
2,909
70
-
1,004
1,326
-
293
15,288
-
14,561
10,543
6,248
22,599
5,442
63
217,069
74,152
641
74,793

This page does not form part of the statutory financial statements

Page 14

THOMAS PHILIPOT'S ALMSHOUSE CHARITY

DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2025

Human resources
Brought forward
Pensions
Other
Change in investment values
Total resources expended
Net income
2025
£
82,317
2,097
84,414
(100,478)
161,029
218,103
2024
£
74,793
2,020
76,813
(25,221)
268,661
90,688

This page does not form part of the statutory financial statements

Page 15