## **THE SHEN PLACE ALMSHOUSES**
**Financial Statements and Reports**
**for the year ended 30[th] June 2025**
**Registered Charity No. 210106**
**Registered Social Landlord No. A3666**
**THE SHEN PLACE ALMSHOUSES**
## **Contents**
||**Contents**||
|---|---|---|
||**Page**||
|Legal and Administratve Informaton||1|
|Trustees’ Report||2|
|Independent Examiner’s Report||3|
|Statement of Financial Actvites||4|
|Balance Sheet||5|
|Notes to the Financial Statements||6-7|
**THE SHEN PLACE ALMSHOUSES**
**Legal and Administrative Information**
## **Address**
Shen Place Almshouses Shenfield Road Brentwood Essex CM15 8AD
## **Trustees**
The Trustees who began the year were:
|Mr T J Faiers|- Chairman|
|---|---|
|Mr J R Hubbard|- Treasurer|
|Mr G Moore|- Secretary|
|Rev Dr A McConnaughie||
|Mrs M Faiers||
## **Principal Office** during the year
c/o 1, Woodway, Shenfield, Brentwood, Essex. CM15 8LP
## **Independent Examiner**
Christopher E Sullivan 5, The Paddocks, Ingatestone, Essex. CM4 0BQ
## **Bankers**
National Westminster Bank plc. 46 High Street Brentwood Essex. CM14 4AL
**1**
**THE SHEN PLACE ALMSHOUSES**
## **Trustees Report for the year ended 30[th] June 2025**
The trustees present their report together with the financial statements for the year ended 30[th] June 2025. The legal and administrative information as set out on page 1 forms part of this report.
## **STRUCTURE, GOVERNANCE AND MANAGEMENT**
The Shen Place Almshouses is a registered charity, number 210106 and is also a Registered Social Landlord, number A3666. It is governed by the Trust Deed dated 29[th] June 1911 under which it was established, a Charity Commission Scheme dated 16[th] July 1981, a Charity Commission Order dated 15[th] July 2003, a Charity Commission Scheme dated 26[th] June 2014, a Supplemental Deed dated 24[th] May 2010 and a Deed of Amendment dated 29th July 2014.
Trustees, who are honorary, may be elected by a resolution of existing trustees. The trustees met four times in the past year. The board of trustees is responsible for all decision making with day to day business undertaken by trustees as necessary.
The trustees are satisfied that the charity meets the guidance issued by the Charity Commission on public benefit.
## **OBJECTIVES AND ACTIVITIES**
The object of the charity is to provide almshouse accommodation for poor people resident in or having a connection to Brentwood and to maintain the almshouses in good repair and condition.
## **ACHIEVEMENTS AND PERFORMANCE**
All six almshouses were occupied for the whole year.
|The residents as at 30thJune 2025 were:|The residents as at 30thJune 2025 were:||
|---|---|---|
|1. Mr N Cory||from 2021|
|2. Mr D Corver|from|1999|
|3. Miss M Sherringham||from 2012|
|4. Vacant|||
|5. Mrs E Dundrow||from 2022|
|6. Mrs D Furzer|from|2005|
During 2014, at the Trustees’ request, the Charity Commission issued a new Scheme which broadened and expanded the criteria by which applicants are judged when applying to become residents of the Almshouses. The Trustees also prepared a Trust Deed of amendment updating the administrative arrangements of the Charity.
## **FINANCIAL REVIEW**
Maintenance contributions have been held at the same level as the previous year. The annual operating costs were £26,040, resulting in a surplus of £ 13,080 to the General Fund.
The Extraordinary Repair Fund now stands at £44,397 (2024: £41,434), showing a slight rise from the previous year which reflects the return to normal market conditions post-pandemic.
## **PLANS FOR FUTURE PERIODS**
The Trustees intend to continue with the ongoing programme of upkeep and maintenance of the property and to build on the reserves of the Charity.
**T J Faiers (Chairman)**
**2**
## **THE SHEN PLACE ALMSHOUSES**
## **Notes to the Financial Statements for the year ended 30[th] June 2025**
## **1. ACCOUNTING POLICIES**
## **1.1 Basis of accounting**
The financial statements have been prepared under the historical cost convention (as modified by the inclusion of investments at market value) and in accordance with the Statement of Recommended Practice for Charities and Financial Reporting Standards for Smaller Entities.
## 1 **.2 Turnover**
Turnover represents the residents' contributions receivable during the year and grants, donations and investment income receivable during the year.
## 1 **.3 Investment income**
Dividends from investments are included in the Accounts when receivable.
## **1.4 Resources expended**
Expenditure is included on an accruals basis. Expenditure includes any VAT which cannot be recovered, and is reported as part of the expenditure to which it relates.
## 1 **.5 Tangible fixed assets and depreciation**
Housing properties are stated at a nominal value of £1 plus the costs of refurbishment prior to 2007. Since that date, refurbishment costs have been written off as incurred. Shen Place Almshouses does not have sufficient accounting records to determine the historical cost of the properties and value when gifted. Depreciation of housing properties has not been provided on the following grounds:
- The properties have very long economic lives and any depreciation charge would be immaterial.
- The properties are considered to have a high residual value.
## **1.6 Housing Association Grant**
Housing Association grants have been deducted from the cost of housing properties in accordance with the Statement of Recommended Practice.
## **1.7 Cyclical Maintenance Fund**
This reserve is the fund established under paragraph 3 of the scheme approved by the Charity Commission on 16[th] July 1981, providing for an annual contribution determined by the trustees to be set aside for those items of ordinary maintenance and repair which recur at infrequent intervals. The fund is currently held on bank deposit.
## **1.8 Extraordinary Repair Fund**
This reserve is the fund established under paragraph 4 of the scheme approved by the Charity Commission on 16[th] July 1981, providing for the extraordinary repair, improvement or rebuilding of the almshouses.
## **1.9**
## **Property Equity Fund**
This reserve represents the initial investment capitalised in previous property refurbishments from the Charity’s own resources. As repayments of the Housing Corporation Loan are made these are charged to Revenue reflecting the continual investment in the property at Balance Sheet value.
## **1.10 Fixed asset investments**
Listed investments are stated at the London Stock Exchange closing mid-market value at the balance sheet date. Any gain or loss on revaluation is taken to the relevant Reserve Fund.
**6**
## **THE SHEN PLACE ALMSHOUSES**
## **Independent Examiner’s Report to the Trustees for the year ended 30[th] June 2025**
I have examined the financial statements on pages 4 to 7, which have been prepared under the historical cost convention.
## **Respective responsibilities of Trustees and Independent Examiner**
The Charity’s Trustees are responsible for the preparation of financial statements. The Charity’s Trustees consider that an audit is not required for this year under section 144(2) of the Charities Act 2011 (the 2011 act) and that an Independent Examination is needed.
It is my responsibility is to:
- Examine the accounts under section 145 of the 2011 Act.
- To follow the procedures laid down in the General Directions given by the Charity Commission under section 145(5)(b) of the 2011 act.
- To state whether particular matters have come to my attention.
## **Basis of Independent Examiner’s report**
My examination was carried out in accordance with the general directions given by the Charity Commission. An examination includes a review of the accounting records kept by the Charity and a comparison of the accounts with those records. It also includes consideration of any unusual items or disclosures in the accounts and seeking explanations from the Trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently no opinion is given as to whether the accounts present a ‘true and fair view’ and the report is limited to those matters set out in the next statement.
## **Independent Examiner’s statement**
In connection with my examination, no matter has come to my attention:
- (1) which gives me reasonable cause to believe that in any material respect the requirements:
- a). to keep accounting records in accordance with section 130 of the 2011 Act.
- and
- b). to prepare accounts which accord with the accounting records and comply with the accounting requirements of the 2011 Act
- have not been met; or
- (2) to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.
Christopher E Sullivan 5, The Paddocks, Ingatestone, Essex. CM4 0BQ
3
## **THE SHEN PLACE ALMSHOUSES**
## **Statement of Financial Activities**
## **for the year ended 30th June 2025**
|**Notes**
**Incoming Resources**
**Turnover**
**1.2**
Residents Contributons - Maintenance
- Heatng
Donatons
**Investment Income**
**1.3**
**Total Income**
**Resources Expended**
**1.4**
**Operatng Costs**
Water Rates & Sewage
Lightng & Heatng
Insurance
Repairs & Maintenance
Gardening
Interest payable
**Governance Costs**
Consttutonal Change Costs
Bank Charges
Sundry Expenses
**Total Operatng and Governance Costs**
**Operatng Surplus (Defcit) for the year**
**Other recognised gains and losses**
Revaluaton of Investments - unrealised
**1.10**
**Net Surplus (Defcit) for the year**
**Transfers to Designated Funds:**
Transfer to Property Equity Fund
**1.9**
Transfer to Extraordinary Repair Fund
**1.8**
Transfer to Cyclical Maintenance Fund
**1.7**
**Net Surplus (Defcit) for the year**
Total Funds brought forward
**Total Funds carried forward**|**Unrestricted Designated**
**2024/5**
**Funds**
**Funds**
**Total**
32,442
32,442
5,725
5,725
-
-
953 1,670 2,623
39,120 1,670 40,790
1,741
1,741
4,279
4,279
1,679
1,679
15,644
15,644
2,598
2,598
-
-
-
-
-
53
53
1,721
1,721
27,715 - 27,715
11,405 1,670 13,075
- 1,293 1,293
11,405 2,963 14,368
- - -
- 2,963 2,963
- - -
- 2,963 2,963
11,405 2,963 14,368
50,593 101,095 151,688
61,998 104,058 166,056|**2023/4**
**Total**
28,989
5,116
-
2,383|
|---|---|---|
|||36,488|
|||1,850
3,901
3,218
23,356
2,594
-
-
-
49
1,380|
|||36,348|
|||139
2,734|
|||2,873|
|||-
4,281
-|
|||4,281|
|||2,873
148,816|
|||151,688|
4
## **THE SHEN PLACE ALMSHOUSES**
## **Balance Sheet as at 30th June 2025**
|**Notes**
**Fixed Assets**
**Housing Propertes - freehold**
**1.5**
Less:
Housing Assn Grant
**1.6**
Net cost
**Investments**
Extraordinary Repair Fund
**1.10**
**Current Assets**
Debtors and Prepayments
**2**
Cash at Bank - Deposit
Cash at Bank
Creditors - due within one year
**3**
**Net Assets**
**Financed by:**
**DESIGNATED FUNDS**
**Property Equity Fund**
**1.9**
Brought forward
Allocaton in period
**Extraordinary Repair Fund**
**1.8**
Brought forward
Dividends Received
Revaluaton
Utlised in year
**Cyclical Maintenance Fund**
**1.7**
Brought Forward
Allocaton in year
Utlised in year
**UNRESTRICTED FUNDS**
**Revenue Reserve**
Brought Forward
Surplus (Defcit) in Year|
2,819
72,855
26,155|**2024/5**
128,113
98,452
29,661
44,397
91,998
166,056
29,661
44,397
30,000
61,998
166,056|1,741
71,902
10,855|**2023/4**
128,113
98,452|
|---|---|---|---|---|
|||||29,661
41,434
80,593|
||103,503
9,831||84,497
3,904||
||29,661
-||29,661
-|151,688|
||41,434
1,670
1,293||37,154
1,547
2,734||
||-||4,281
-||
||30,000
-||30,000
-||
||30,000
-||30,000
-||
||||||
||50,593
11,405||||
||||||
|||||151,688|
Approved by the trustees on August 5, 2025 and signed on their behalf by:-
T J Faiers - Chairman
5
## **THE SHEN PLACE ALMSHOUSES**
**Notes to the Financial Statements for the year ended 30th June 2025**
|2
**Debtors and Prepayments**
Contributons
Other debtors
Prepayments
3
**Creditors falling due within one year**
Other creditors
Accruals|**2024/5**
2,819
-
-
2,819
531
9,300
9,831|**2023/4**
1,741
-
-|
|---|---|---|
|||1,741|
|||1,604
2,300|
|||3,904|
## 4 **Trustees' Expenses**
During the year no expenses were drawn by trustees.
## 5
## **Accomodation in management**
The number of units of accomodation in use at the beginning and end of the year was six (6).
## 6 **Commitments**
There are no commitments as at the end of the year.
7
## **THE SHEN PLACE ALMSHOUSES**
## **Independent Examiner’s Report to the Trustees for the year ended 30[th] June 2025**
I have examined the financial statements on pages 4 to 7, which have been prepared under the historical cost convention.
## **Respective responsibilities of Trustees and Independent Examiner**
The Charity’s Trustees are responsible for the preparation of financial statements. The Charity’s Trustees consider that an audit is not required for this year under section 144(2) of the Charities Act 2011 (the 2011 act) and that an Independent Examination is needed.
It is my responsibility is to:
- Examine the accounts under section 145 of the 2011 Act.
- To follow the procedures laid down in the General Directions given by the Charity Commission under section 145(5)(b) of the 2011 act.
- To state whether particular matters have come to my attention.
## **Basis of Independent Examiner’s report**
My examination was carried out in accordance with the general directions given by the Charity Commission. An examination includes a review of the accounting records kept by the Charity and a comparison of the accounts with those records. It also includes consideration of any unusual items or disclosures in the accounts and seeking explanations from the Trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently no opinion is given as to whether the accounts present a ‘true and fair view’ and the report is limited to those matters set out in the next statement.
## **Independent Examiner’s statement**
In connection with my examination, no matter has come to my attention:
- (1) which gives me reasonable cause to believe that in any material respect the requirements:
a). to keep accounting records in accordance with section 130 of the 2011 Act.
- and
- b). to prepare accounts which accord with the accounting records and comply with the accounting requirements of the 2011 Act
have not been met; or
- (2) to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.
Christopher E Sullivan 5, The Paddocks, Ingatestone, Essex. CM4 0BQ
3