REGISTERED CHARITY NUMBEIL. 210365
REPORT OF THE TRusfELS AND
AUDITED VINANCJAL STATEMENrs
FOR THE YEAR ENDED 31 DECEMBER 2024
FOR
THE HENRY PINNOCK AND VICTORIA & ALBERT
MEMORIAL CHARITY

THE HENRY PThNOCK AND VICTORIA & ALBERT
COP4TENfs OF THE FINANCIAL STATEMEiYrs
FOR THE YEAR ENDED 31 DECEMBER 2024
P4g•
Rtferenee and Admlnlstrative Detall8
Report of the TnD¢e
2 to 9
Retwjrt of the Independent Audltorj
10 to 13
ststement of Fln*nclal Adfvltle8
14
lance Sheet
15 to 16
Statsment of Change8 In Equity
17
C*sh Flow StalemeDt
18
Notes to Ihe C&4h Floiv Slatement
19
Notsg to the Flnanclal Ststements
20 to 33
Detslled Statsment of Financial Activitie8
34 to 35

THE HENRY PINNOCK AND VICTORIA & ALBERT
MEMORIAL CHARITY
REFERENCE AI¥D ADMINISTRATIVE DETAILS
FOR THE YEAR EIYDED 31 DECEMBER 2024
TRusfEES
A Ridgers
Ms C Stone
Ms L Milner
A J Verrill
Ms J Walla
BSHay
C P Painter
W P Woolley
A Pritchard
Ms N Bolley
W W￿l]eY godly pa5s¢d away on 27th May 2024. We extend our dcepesl LxThdoicncu to thc fwnily and
atknowled8e his invaluabl¢ contributions to the ch￿ry overthe 30 years.
B Hayre Smgh e4)noluded his t¢nurc fjs in May 2024, a5 sch¢duld. We him for his dcdicated %rvi¢e
dwin8 his tsrm.
PRINCIPAL ADDRESS
The L(NJge
St Thomas's Almhouses
Old Road Wesl
Gravesend
Kent
DAII 7LA
REGISTERED CHARITY
NUMBER
210365
AUDITORS
Sargeant Partnership Limited
Chartered Accountants
and Statutory Auditors
5 Whil¢ Oak Squar¢
London Road
Swanley
Kent
BR8 7AG
SOLICITORS AND BANKERS Legal Representstiv¢- Furley Page
Bankers- Nation81 Westm]￿8ler Bank PLC
ADVISERS
ProF*rty Consultant-
PSW Building Consultancy
Human Resources Conlact- Populo HR
Page I

THE HENRY PINNOCK AIYD VICTORIA & ALBERT
MEMOIUAL CHARITY
REPORT OF THE TRUSTEES
FOR THE YEAR ENDED 31 DECEMBER 2024
The trLLStees present th¢ir report with the fin￿￿la1 statements of the charity for the year ended
31 December 2024. The Iruslees have adopted the provisions of Accounting and Reporting by Charities:
Statement of Recommended Practice applicable to ¢hariti¢s pwaring their a￿OUnts in ￿cOrd￿nce with ihe
Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) {¢ffe¢tive l January
2019).
oWE￿IVEs AND ACTIVITIES
Principal Activity
The Principal a¢livity of the charity in the year under review was that of the provision of almshouse
accomm(MJation at St ThomL8'S Almshouses. Gravesend and within the Grave$E￿n Borough. The
almshouses are operated by the charity as a r¢gisler¢d so¢i81 housing pmvider. Almshouses ar¢ a ¢harilabl¢
forni of 5elf-sufficient. Iow-¢OSt Community housing held in In￿1 for lo¢al people in need of genuinely
affordable housing. There cutTently over 1.6(M) independent almSho￿Se ¢harilies providing hom¢s foT
over 36,000 people.
The charity was originally founded as a result of the will. in August 1624. of local man Henry Pinno¢k. The
charity's objects although modernised in their language over lim¢. r¢main in line with his wish¢s. namely. (a)
the prevention or relief of poverty by the provision of S￿la] housing in th¢ forni of almshouse
accommodation to persons in need who (except in special cases approved by the trustees) are inhabitants or
fornier itthabitanls of the Borough of Grdvesham with a preference for persons who have resided for not less
than 10 Ye￿ in the Borough of Gravesham. and (b) such charilable pUrym￿ for the benefit of the Tesidents
as the tn￿teeS decide.
St TIM)mas's Almshouses. is one of the largest almshoLLse providers in the country and
provides accommodatton in the form of 54 one-bedrwmed tlals, 6 one-bedroomed accessible bungalow&
and two x 2-bed flats also on the sit¢. The sile is designed for indepetKlenl living, but a5 a community, and
there 15 consideration given to provid¢ for r¢sid¢nts' well-being, both physical and mental.
Supporting the work of almshouse provision is the investment income from properties and land owned by
the charity, a commercial space and flats above in Tunbridge Wells, and land in Norfolk, the bulk of
whi¢h is leased as farm land. In addition, ￿her social housing rents, have been received from residential
properties in Northfleet and Swanswmbe. held as other freehold properties.
Public benefit
The Trustees have considered the Charity Commission's guidance on public benefit. In particular,
the trustees consider how future developments will contribute lo the objectives aThJ aims they have sel.
and are actively looking lo increase the charity's public benefit.
Page 2

THE HENRY pifiNocK AND VICTORIA & ALBERT
REPORT OF THE TRUSTEES
FOR THE YEAR ENDED 31 DECEMBER 2024
ACHIEVEMENTS AND PERFORMANCE
Key PerfonnaDce Indicato
The Trustees monitor the Charity's perfomiance throughout the year. In addition to oper4tional perforniaTKe
indicators. the following strntegic perfornian¢e obje¢tiv¢s hav¢ E¢en identified and are revi￿ed on a regular
basis:
- Nurnber of i￿¢ficIaTieS
. Fr¢¢ r4s¢rv¢$
- Programme investment yield
- Staff engag¢ment
Trustee Skills
- Residents able to live independently
- Diversity and Inclusion (re. benefiCi￿leS)
Pagc 3

THE HEIYRY PINNOCK AIYD VICTORIA & ALBERT
MEMORIAL CHARITY
REPORT OF THE TRUSTEES
FOR THE YEAR ENDED 31 DECEMBER 2024
FINANCIAL REVIEW
Fin4neiHI position
The year 2024 marked a significant progression for Pinnock5 Charity, &8 we navigated through challenges
and achievements that undersc0￿d our dedication Io governance, community supwrl and S￿￿tainable
growth.
Our strategi¢ ￿MMItment remained robust as we furthered our mission through comprehensive governance.
ensuring all trustees were aligned with our core objectives. This included the successful integrntion of new
trusteffj bolstering our board's capabilities and preparedness for future opportunities.
Financially. the charity continued to demonstrate resilience and prudence, managing our resour¢&s to foster
growth while Maintaining healthy surpluses. This fi￿1 respO￿81b11lty ¢nabled us lo advance our property
management efforts effectively? including the initiation of significani development project5 aimed at
expandin8 our housing provisio
In terns of property development, we commenced the ambitious Custom House wjecL reflecting our
prO￿￿1ve approach to addressing the hollqing needs within our community. This project, along with our
ongoing engagements with local authorities and stskeholders. highlighted ow strdtegic intent to enhance our
IK>using stock and public benefit.
Our charitable activities saw notable enhan¢ernen￿ with the implementation of updated p)licies lo support
our beneficiaries more effectively. Thi5 w&s complemented by our active participation in grant schemes.
which not only fortified our financial base but also our commitment to community service.
MoTeover, ￿ ¢elebratiort of our 400th anniversary w&8 a highlight of the year, bringing together community
members and dignitsries to commemorale our longstanding service and impact. This event not only
celebrated our past but also sparked enthusiasm for ow futur¢ endeavours.
As we moved towards a more Strn￿tUred future with the incorFx)rntion of a ChaTitable Incorporated
Organi5ation {CIO), we laid down a modem foundation will enhance our operational efficiencies and
governan¢¢ sttwcture, ensuring greater a¢wuntability and proleclion for ow Irustees.
The year also saw us strengthening our financial controls and TiSk management pr(wse& ensuring that we
remain compliant and aligned with best pYa¢ti¢¢s in charity gov¢mance and financial manag¢m¢nL
In summary. 2024 was a year of strategic achievements and le8rning for Pinn￿kS Charity. We have set a
solid foundation for continued success and impact, driven by our commitment lo ow mission and the
commullities we serve. As we look forward. we are poised for further growth and suslatned impacL
underpinned by strong governance. stsBtegic investments. and a deep commitment to enhancing ihe lives of
our Ixneficiaries.
On 8th July 2024. a valualion was completed on the social housing properties by Jenner Jones Chartered
Surveyors (RICS). The valuation has increased to £5.9W.000 for Ihe social housing units and £225.000 for
The Lodge and is reflected in the 2024 accounts.
Page 4

THE HENRY PINNOCK AND VICTORIA & ALBERT
MEMORIAL CHARfTY
REPORT OF THE TRUSTEES
FOR THE YEAR EIYDED 31 DECEMBER 2024
FINANCIAL REVIEW
Reserves policy
G¢nernl Funds
General funds are unrestricted funds which are available for use at the discretion of the Tn￿lee$ in
furtherance of the general objectiv¢s of the Charity which have not been designated for other purposes, other
The Charity's ststed Reserves Policy is that the Charity holds at least 12 months, expxnditure in reserve,
either in caslL or short-tem deposits.
Previously, the Tr￿1¢¢$ d¢signa¢¢d r¢s¢rv¢s for the future major repairs expenditure on all housing
properties under the 1998 Housing Act arrdngements and other properties in so far as the major repairs
expenditure is not eligible for grants from the Housing Corporation or I(￿] authorities. Regular annual
contributions were set aside in an Extraordinary Repairs reserve in accordance with the Trust Scheme dated
29 June 1982. In 2024. the Trusttts hav¢ consolidated and reduced the resetves held for ongoing major
repairs and cyclical maintetydnce across its property Portfolio. The unrestricted Teserves held is now
equivalent to 12 months of ope￿10n01 expenditure.
In the previous year the Trustees enha￿ed the designation of the reserves to provide a clear ststernent of
intent in regard to furthering the charity's objectives to incre&se its public benefit. As a consequence a new
designatsd reserve 'Public Benefit" was created which was to be used ftir the acquisition of social housing.
With the Customs House development in progress. the designation has been reversed by the decisiort of
the Trustees and h&$ been transfetTed to the general fund in 2024.
Revaluation Reserv¢
The revaluation reserve is part of the unrestricted [￿rVeS and has resultsd from the revalualion of the social
housing and other freehold properties.
Going coneer
After making Ihe appropriate enquiries, the Trustee5 have a reasonable exp¢¢tation tlwt the Charity has
adequate resources lo continue in operntion existence for th¢ for¢s¢¢able future. For this reaso￿ they
continue to adopt the going concern b&sis in preparing the financial statements. Further adoption of th¢ going
con(Ern is included in the accounting policie&
Prlor Year AdJu8tment
The 2023 restatement of figures relates to the reclassification of freehold property to investment property and
the restatement of the revaluation reserve and designated fund.
The reclassification of investment property at 3111212023 was £1,848.075. less amortisalion £121.945. being
net book value of £1.726,730. as shown in note 13.
With the recl&8sification of the investment propety, this has restated the revalualion reserve at 3111212023,
as detailed in note 18. The revaluation reseTve is Nil at 3111212023, due to the overall cumulative revaluation
1055. This1055 was retained in the general reserve (after tr8nsfrr to designated funds in 2023). This has been
adjusted in 2024 due to the upward revaluation of the social hoLLsing and other fiE¢hold properties.
Page 5

THE HEIYRY PIIYNOCK AND VICTORIA & ALBERT
MEMORIAL CHARTrY
REPORT OF THE TRUSTEES
FOR THE YEAR ENDED 31 DECEMBER 2024
FUTURE PLANS
Keeping th¢ objectives of the charity at the centre of the Str￿¢81¢ decisions being made by trustees. the
future plans are ambitious and involve increasing the public benefii by adding significantly to the nwniKr of
almsho￿eS available within the borough. As part of this objective, the charity has committ¢d to an ambitious
project involving the acquisition and development of a property site expected to result in 27 housing unils
.with 65 bedrooms for s￿18] housing purwses. As of Decemb¢r 31. 2024. the charity has all￿ated
£3.LK)4,829 for initia] acquisition costs. with a total projected investment and final market valuation of
approximately £8.7 rnillion ll￿n Completion. This project sUp￿rts OUT strategic obj'ectives to eXP￿d our
social housing offerings and is expected lo signifi(andy enhance our asset base and service capacity upon its
projected completion in 2026. The initial acquisition cost is not dependent on Any external funding.
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing doc￿Ment
The object of the ¢harity is laid down by a Charity Commi&sion scheme dated 29th June 1982 and is the
provision of residences for persons in need in Grdvesend or in the ecclesiastical parishes of St Mark.
Rosherville or All Saints. Peny Street. Northfleet.
Charitable Incorporated Organisation {ClO)
The Pinnocks Charity was in¢oTporaled a5 a CIO on 1011212024. under Charity Number1211347.
This new CIO was registered to facilitate in¢orporation of the charity and. ultimately, all a￿ts and activity
will b¢ transferred to the CIO with the unincorporated charity subsequently closed down and notification
given to the Charity Commission. thai the CIO is the unincotyor&ted charitys succe&80r.
There h&$ no change to the operational arrdngements of the Charity to date and no changes ar¢ ¢xp¢¢ted
in 2025. All operdtions continue to be carried on through the unincorpofdled charity and the CIO is lo remain
dOrn￿nt until all necessary approvals hav¢ b¢¢n re¢¢iv¢d from the Charity COm￿lSsion and other interested
third parti¢s and the trustees have resolved to go ahead with the incorporation. This is not exp￿ded to take
place until the Cwl(MD House development has been concluded in March 2026.
Recruitment and appolntmeDt of new trust¢e8 and tralnlng
Advice for trustees published by the Charity Com]nission is given to new board members and new gutdance
is notified arkd made available &1 Board meetings. Trustees have free access to ail members of staff to ensure
that they can be fully aware of the activiti¢S ond methcKls of the charity.
OrganisatiODal $tru¢¢ure
The aim of the charity is to provide a]mshouse accommodation ￿ St Thomas's AlMsh0￿CS. The charity
operates by means of a board of trustees which aims to meet at least five times per year. A maximum of five
trustees ar¢ co-optative trustees serving ternis of five yeays. A maximum of five twsttts are representative
trustees aptx)int¢d by Gravesham Borough Council for lernis of fouryears.
Relwted parti
In addition to the related party disclosure in note.17 in the ReEK)rt & Accounts, trustees regularly 'declare on
interest" as appropriate and all have completed the questionttaire.
Risk management
The Charity operates a Risk R¢8iSter. which looks at the risks and threats to which the Charity is exposed.
This is reviewed on a regular basis. The Trustees are satisfied that appropriate controls are in place to
provide reasonable assurance against fraud or ¢rror.
Page 6

THE HENRY PINNOCK AND VICTORIA & ALBERT
MEMORIAL CHARITY
REPORT OF THE TRUSTELS
FOR THE YEAR ENDED 31 DECEMBER 2024
VALUE FOR MONEY STATEMEKr
In presenting a for Money Slatement for 202. Pinnock's Charity ha8 adopted the Value for Money Staiement
Metics introduced by the Regulator of Social Housing, which ar¢ shown below.
R¢lnv¢s¢m¢n¢ %
WorL8 to existing rffoperties
Housin8 properties at valuation
11,536.604
11,556,604 B
0.[￿1*￿
New Supply dellvered %
al Social FIousing UtLit5
Total Social Housing units dcvelorKd
or acqulred in thc year
Total Social H￿sIng Units Managed
pcriLNJ cnd
b) Non.So¢ial Housing Units
Total Non.So¢iai FIousin8 Ulllts
O A developed or acquird in the yellr
Total Social Housing Units
Managed at period eThJ
Tota] Ntsn-So¢ial Housing Uni¢S
MaTha8ed at period end
68
68
68B
74B
Ge*rlAg
Short tenn lojns
Long iern] loans
Cash and ¢&sh equivalents
Housing properties 4t valuation
11.556,604
77.775
77.775 A
I1,556.604 B
0.67%
E#rnlMgs btfore Interes( T8& Depr¢¢l•don, Amortisatioth, Major Repairs llleluded (EBITDA MRI)
Intereyt Cover
Operating sU￿]usI(derJCit)
+ Intercst receivabl¢
+ Total (kpr¢ciation rharge
802.010
54,776
187.633
1.044,419 A
Interest capitalised
costs

THE HENRY PINNOCK AND VICTORIA & ALBERT
MEMORIAL CHARITY
REPORT OF THE TRUSTEFS
FOR THE YEAR ENDED 31 DECEMBER 2024
VALUE FOR MONEY STATEMENT CONTINUED
H•ad]In• So￿￿ Houskn8 Cos¢ £
Total S￿la1 Housing Unlts
Managed Bt period WKi
Management Costs
S¢tvic¢ charge costs
Repairs & rnaiDtenunce ￿sts
Other (social iM)using Icttin8> cost8
283,073
111.645
410,833 A
68 B ￿043
OptrxtlDg Mxryln •A
a) Social Housing lettin8S
Operating sU￿1￿51{d¢fiCIt) fiDm soclal
housin8 lettings
Income from 50¢iai hous]￿ l¢ttin8s
b) Overall
826,726 A OFtrating SUTplusl(d¢fi¢it) overall
557,871 B
Income (overall)
802,010 A
1,490,459 B
14&19% AIB
5UIY• B
Retsrn on C*ptto1 Employed
Operating $urplu81ldeficit) overall
802.010
Totsi a&8ets cu]T¢nt liabilitiu 13J31.127
802,010 A
13.531,127 B 5.93%
Page 8

THE HENRY PII¥NOCK AND VICTORIA & ALBERT
MEMORIAL CHARITY
REPORT OF THE TRUSTEES
FOR THE YEAR ENDED 31 DECEMBER 2024
POST BALANCE SHEET EVENTS
In the period subsequent to the balance sheet date. inveslmenl propety was sold to the value of £1,275,(m.
The fund5 are to be used for the continued developmenl of the new Alms Housing site. currently included in
"Other Freehold Properties"
STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS
So far as the trustees are aware, there is no relevant audit infonnation (infomiation needed by the charity's
auditOT5 in connection with preparing their report) of which the charity's auditors are unaware, and wh
trustee has taken all the steps that he or she ought to have taken as a tn]stee in order to make himself or
herself aware of any relevant Hudit infonnation and to esthblish that the charity's auditors are aware of that
inforn)ation.
STATEMENT OF TRUSTEES, RESPONSIBILITIES
The tn￿tee5 ar¢ responsible for preparing the Re￿rt of the Twslees and the financial statements in
accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally
Accepted Accounting Pradi¢e).
The law applicable lo charities in England and Wales, the Charities Act 2011. Charity (Accounts a￿1
Reports) Regulations 2008 and the provisions of ih¢ tr￿1 deed requires the trustees lo prepaR financial
statements for each fu￿￿1a1 year which give a true and fair view of the State of alrairs of the charity and of
the incoming resources aThl application of resources. including the inc(xne and exFthditure, of the charity for
that period. In preparing those financial slatements, the trustees are required to
select suitable accounting Fxblici¢s gnd then apply them ¢onsistently*
observe the methods and principles in the Charity SORP.
make judgements and estimates that are reasonable and prud￿t.
state whether applicable a¢counting standards have been followeiL subject to any m8t¢rial d¢partur¢s
disclosed and explained in th¢ fina￿181 slalements.
PTepare the financial statements on the going concern b&sis unless it is inappropriate to preswne that the
charity will continue in busine&s.
The t￿￿S are responsible for keeping proper accounting recor(L8 which disclose with r¢Lsonable a¢cura¢y
at any time ihe financial position of the charity and to enable them to ensure that the finatKial stat¢m¢nts
comply with the Charities Act 2011, the Chaxity (Accounts and Rep)rts) Regulations 2008 and the
provisions of the trust deed. They are also r¢sponsible for safeguarding the assets of the ch8Jity and hence for
taking reasonable steps for the prevention and detection of frnud and other ijYe8ularities.
The trustees are also responsible for maintsining a satisfactory syst¢m of wntrol over th¢ charity's books of
accounts and transactions.
Approved by ordv of the board of trustees on ...2nd Seplemkr 2025........
. and si8ned on its behalf by:
C P PainteT- Trustee
Page 9

REPORT OF THE INDEPENDENf AUDITORS TO THE TRUSTEES OF
THE HENRY PINNOCK AND VICTORIA & ALBERT
MEMOIUAL CHARITY
Oplnlon
We have audited the financial statements of The Henry PinTho¢k and Victoria & Albert M¢morial Charity (the
'charity') for thc year ended 31 December 2024 which comprise the Statement of Financial Activities, the
Balance She¢ the Cash Flow Statement and note8 to the financial statements. including a summary of
significant accounting poli¢i¢s. The financial reporting framework that has been applied in their preparation is
applicable law and United Kingdom Accounting Siandards (United Kingdom Generally Accepted Accounting
Practice).
ltt our opinion the fin￿￿1￿1 statements:
give a tn￿ and fair view of the state of the charity's affairs 85 at 31 Decunber 2024 a￿{ of its incKyming
resources and application of resource4 for ihe year ih¢n ended.
have b¢¢nproperly prwared in accordance with UnitedKingdom Generally Accepted Accountin8 Practice:
hav¢ been prepared in accordance with the requircments of thc Charitics Act 2011, the Housing and
Regeneralion Act 2008 and the Accounting Direction for privat¢ provid¢rs of s(￿181 housing in England
2022.
Bag19 for Opinion
We conductcd our audit in a￿ordaI￿¢ with International Standards on Auditing (UK) (ISAS (UK)) and
applicable law. Our responsibilities underihose standards are fiuther described in the Auditors, responsibilities
forthe audit of the fU￿￿La1 ststements section of our report. We are Indep￿dent olthe charity in acwrdance
with the ethical requirements that are relevant to our audit of the financial statements in the UK, includin8 the
FRC'S Ethical Standard. and we have f￿rilled ow other ethical responsibilities in accordatKe with these
rcquirements. We beli¢v¢ that th¢ audit evidence we have obtained is sU￿￿lent and appropriate to provid¢ a
basis for our opinion.
Conclusions relatlng to golng eoneern
In auditing the financial statements, we havc cimcludcd that thc trusttts, use of the going concern basis of
accounting in the prcparation of the f￿￿ncIal statements is appropriat¢.
Based on the work we have perforn)ed, we have not identificd any material uncertainties relating to events or
conditions that. individually or collectively> may cast significant doubt on the charity's ability to continue as a
going L%)ncern for a period of at least twelve months from when the financial statements are authorised for
ISSU¢.
Our rcsponsibilitie5 and th¢ rwinsibilities of the trustees with respect to going concern are described in th¢
relevant s￿￿On8 of this re￿rt.
Other information
The tTUSt¢es are responstble for the other infommtion. The other inforniation comprises the infomlation
included in the Amiual Report, other than thc financial statements al￿ our Report of the Indq)endcnt Auditors
Ihem
Ouropinion on the fLnancial staternents does not cov¢rthe oiherinfom]ation except to the extent otherwis¢
explicitly stated in our report, we do not express any forni of assurance conclusion ther¢on.
In connection with our audit of the financi81 statements, our responsibility is lo read the other inforn]ation attd.
in doing so, consider whether ihe other inforn)alion is materially inconsisteni with the financial statements or
our knowledge obtained in ihe audit or otherwise appears to be materially mis8Lqted. If we identify s￿h
material inconsistencies or apparent material misstatements, we are r￿UIred to determine whether this gives
rise to amaterial misstatement in th¢ financial stalemenls themselves. If. based on the WO￿ wehav¢perfonne
we concludc that there is a material misstatement of this other infomiation. w¢ are required to report that fact.
We have nothing to report in tbis regard.
Page 10

REPORT OF THE INDEPEIYDEIYT AUDITORS TO THE TRUSTEES OF
THE HENRY PINNOCK AIYD vicfoRIA & ALBERT
MEMOIUAL CHARITY
Matters OD which we are required to report by exeeption
We hav¢ nothing to report in respect of the following matters wh¢r¢ the Clwities (A¢¢ounts and RetM)rts)
Regulations 21X)8, and the Housing and Regeneration Act 2(K)S requires ￿ to rery)rt to you if. in our opinion:
the infornlation given in the R￿ort of the T￿￿e¢S 18 Incon518ten1 in any material resp￿ wilh the financial
statements.. or
sufficient ￿CoUntIng records have not been kq)t' or
Ihe financial statements are not in agreement with the accounting r￿ordS and returns. or
we have not receivcd all th¢ inforn]a¢ion and ¢xplanations we require for our audit.
Responsibi]itstt of trustees
As explained more fillly in the Statement of Trustees, Resw)nsibilities, the trustees are responsible for the
prq)aration of the financial statements which give a true and fair view, and for such internal control as th¢
tru81ee8 detern]ine is necessary to enable the Preparation of financial statements that are free from rnaterial
misstatement, whether to fraud or error.
]n preparing the fu￿)Cial statements, the trustees are responsible for assessing the charity's ability lo continue
as a going disclosing, as applicable, matters related to going concern and using the going concern
basis of accounting unless the tNstees either int￿d to liquidate the ch￿ltY or to cease operations, or have no
realistic alternative but to do so.
Pagell

REPORT OF THE IIYDEPENDENT AUDITORS TO THE TRUSTEES OF
THE HENRY PINNOCK AND VICTORIA & ALBERT
MEMORIAL CHARITY
Our responslbilitses for th¢ audit of the financlal stAtements
We have been appointcd as auditors under Section 144 of the Charities Act 2011 and Section 136 of the
Housing and Regenttation Act 2008 and report in accordance with the Act and relevant regulations made or
having eff¢¢t th¢reund¢r.
Our objKtives are to obtain reasonabl¢ a$suranc¢ about wh¢th¢r the financial stat¢m¢nts as a whole ar¢ free
frorn material mi8Statement, whether due to fraud or error. and to issue a Rqx)rt of the Independent Auditors
that includes our opinion. Reasonable assurance is a high level of assurance. but is not a guarantee that an
audit conducted in acKordance with ISAS (UK) will always det￿t a matcrial misstatement when it exists.
Misstatements can arise from fraud or aror and are considered material if, individually or in the aggre8ate,
they could reasonably be expected to influence the economic decisions of u5er5 tsk¢n on the basis of these
financial ￿aternents.
The extent to which our procedu￿$ capable of detecting irregularities, including fraud is detailed below:
The objectives of ow audit are to identify and assess the risks of material mi8Statement of the fJnancia]
statements due to fraud or ¢m)r,' to obtain sufficient approprialc audit evidence regarding the asscssed risks of
material misstat¢m¢nt du¢ to fraud or error. and to respond appropriately to thosc risks. Owing to the inherent
limitations of an audit. there is an unavoidable risk that matcrial misstatements in the financial statements may
not bc detected. even though the audit is properly pla[￿ed and perform￿ in accorda￿e with th¢ ISA'S (UK).
In identifying and a5s¢ssing risks ofmaterial misstatcment inK8pect of itregularities including) fraud and non-
complianc¢ with laws and regulation4 our procedures included the following..
- We obtaincd allunde￿ding of the legal and ￿gUlatOry frameworks applicable to the charity and the sector
in which they operate. We deterniined that the following laws and regulations were most significant: the
Cl)arities Act 2011, and the Housing and Regeneration Act 2008.
-we obtained an understanding of how the Charity is complying with those legal and ￿gUlatOry frameworks
by making inquiries to thc management and trust¢¢s. W¢ Co￿obOrn1cd our inquiries through our r¢view of
papers provided to the audit cngdgement t¢am.
-we assessed thc suwtibility of the Charity's financial statements to material Misstal￿nen( including how
fraud mighi occur. Audit pr(Kedures perfornid by ihe audit engagemenl leam included:
a) Identifying and assttsing the design effectiv¢nes8 of controls management has put in place to Prev￿71 and
det￿t fraud.
b) Understanding how those charged with governance considered and addressed the potential for override of
controls or other inappropriat¢ infiuence over the financlal reporting process"
c) Challenging assLunptions and judgements made by management in its significant accounting estimates
and evaluating the appropriateness of accounting policies used.
d) Identifying and testing journal entries, in particular any journal entries posted with unusual account
combinations: and
e) ASS￿Sing the exlenl of compliance with the relevant laws and regulations.
Pag¢ 12

REPORT OF THE INDEPENDENT AUDITORS TO THE TRUSTEES OF
THE HENRY PINNOCK AND VICTORIA & ALBERT
MEMORIAL CHAIUTY
0 Conclude on the appropriateness of the Trnstees use of the going concern basis of accounling based on audit
¢videnc¢ obtained, whdher a material uncertainty exists related to events or conditions that niay ￿5t a
significant doubt on the Chant￿S ability to continue as a going concenL
g) Evaluate the overall presentatio￿ structUTe and content of the financial statement8, including disclosur¢&
and whetherthe fllmncial statements rq)r¢sent theunderlying transaction5 and events in a mannerthat achieves
fatr presentation.
A further d¢s￿iption of our responsibilities for the audit of the financial statements is located on the Financial
Reporting Council's website at www.frc.org.uklauditorsresponsibilities. This description fornls part of our
Report of the IndcpcThdent Auditors.
A further description of our T¢sponsibiliti&s for the audit of the financial statements is located on the Flnancial
Reporting Council's website at www.frc.org.uklaudilorsresponsibilities. This d￿CriptIOn forn]s part of our
Report of the Independent Auditors.
Use of our report
This report is made solely to thc charity's trustCC5, as a kndy) in accordance with Part 4 of the Charities
(Accounts and Reports) Regulations 2008 and s￿tiOn 137 of the Housing and Regeneration Act 2(N)8. Our
audit work has been undertaken so that we might state to the charity's trustees those matters we are required to
statc to thcm in an auditors, r¢port and for no other purpose. To the fullest extent perniitted by law, we do not
accept or assume rcsponsibility to anyone other than the charity and thc charity's trustccs a5 a body, for OUT
audit work, for this rqM)rt, OT for the opinions we have fornial.
Sargeant Partnership Lirnited
Chartcrcd Accoulltallts
and Statutory Auditors
5 White Oak Squarc
London Road
Swanley
Kent
BR8 7AG
1110912025
Date: .............................................
Page 13

THE HENRY PINNOCK AND VICTORIA & ALBERT
MEMORIAL CHARITY
STATEMENT OF FINANCIAL AcfIvITIES
FOR THE YEAR ENDED 31 DECEMBER 2024
2024
Unrestricted
funds
2023
Total
funds
as restated
Notes
INCOME AND ENDOWMEfiTr FROM
ChAritsble gctivities
Charilable Aclivili¢s
1.340,218
573.163
(hher trading activitie5
Investment income
OtI￿r income
958
149.283
914
178.261
45.390
Totsl
1490 459
797,728
EXPENDITURE ON
Ch*ritsble activities
Charitable Activities
630.984
502,670
2,689
TotAI
633,673
502,670
Net gain5 ¢)n investments
113.244
IYET INCOME
Other reeognised gainsl{k)55es)
Gains on revaluation of fix¢d assets
I,￿2,848
408.302
3,339,032
Net movement In funds
4,431,880
408.302
RECONCILIATIOI¥ OF FUNDS
Total funds brought forward
9,083J21
8.675.019
TiyfAL FUNDS CARIUED FORWARD
13 515201
9083 321
CONTINUING OPERATIONS
All income and expenditure has 8ris¢n from wnlinuing activities.
The notes forni part of these financial statements
Page 14

THE HEfiRY PINNOCK AND VICTOIUA & ALBERT
BALANCE SHEET
31 DECEMBER 2024
2024
un￿StrIcted
funds
2023
Total
funds
as reststed
FIXED ASSETS
Tangible ￿Sets
Inv¢stment pmperty
12
13
11,585,879
1,939,4
42(K),519
.726,730
13525,279
5,927249
CURRENT ASSETS
Debto
C&5h at bank
14
19,488
77.775
16.646
3.189.441
97263
3,206.087
CREDITORS
Amounts falling due within one y¢ar
15
(91,415)
<50,015)
NET CURRENT ASSETS
3,156072
TOTAL ASSETS LESS CURRENT
LIABILITIES
13,531,127
9,083,321
CREDITORS
Amounts falling due after more than one
16
(15.926)
NET ASSETS
13,515201
9,083J21
The notes fonn part of these financial statanents
Page 15
Continued...

THE HEIYRY PIIYNOCK AND VICTORIA & ALBERT
MEMORIAL CIIARITY
BALAI¥4CE SHEET- continued
31 DECEMBER 2024
FUNDS
18
13J15.201
9.083.321
TOTAL FUNDS
13,515 201
9083 321
The fina￿]81 statements were approveA by the Board of TTU5tees and authorised for issue on
..2nd September 2025 .. . and were signed on its ￿half by:
C P Paintsr- Tn￿tee
N Botley. Trustee
The notes forni part of these financial ststements
Page 16

THE HENRY PINNOCK AND VICTORIA & ALBERT
MEMORIAL CHARITY
STATEMENT OF CHANGES IN Eourry
FOR THE YEAR ENDED 31 DECEMBER 2024
Ret•in¢d
e*rnlttg$
Rev•lyatlon
Other
Dgslgmat•d
rtserv¢
Tol81
•quity
BgIAnt¢ gt 1st Jxnmxry 2023
Surplus from statement of
¢ompr¢h¢nsiv¢ In￿Me
In¢Ttase in property valuation
In¢r¢as¢ in mark¢1 value of
investm¢nts transfer
Intercst arising in the year trdnsf¢r
Prior Y¢aT Adjustm¢￿- restated
Transfer from income and
expenditure accouint
Balance at 31 Deeember 2023
{as restAttdl
31X).IXXI
4.512.414
2.955
3,859,651
8,675,020
4D8J02
408,302
{2.808.911)
2,808,911
(402,819
.703,503
2,106J22
305,483
2,955
8,774,883
9.083,321
Surplus from statement of
comprehensive income
Increase in prop¢rty valuation
Increase in mark¢t valu¢ of
inv￿1￿cnts transfer
InterE5t y￿51ng in the y¢ar transfer
Transfer from prior periods
Transfer from incotne and
expenditure attount
BAIAnee At 31st Detember 2024
1,091848
1.092.848
3,339.032
3339,032
{385.0(M))
385,IX>O
8,777,838
9 791 169
(2,955
8 774 883
3,724 032
13J152OJ
The notes form part of these fjnancial ststements
Page 17

THE HENRY PINNOCK AND VICTORIA & ALBERT
MEMORIAL CHARITY
CASH FLOW STATEMENT
FOR THE YEAR ENDED 31 DECEMBER 2024
2024
2023
as restated
Notes
Cash flows from oper*¢lng ac¢lYltle5
C&sh generated from operntions
1027401
290 294
cash Wivided by opernting activities
1027401
Cash flows from Inve$tlng ac¢ivi¢ies
Purchase of tangible fixed assets
Purchase of investment proi
Sale of tangible fixed assets
Sale of fixed asset investments
Interest received
(4,205.065)
(10,343)
2,150
{427,333)
270.000
2.292.388
83.731
Net cash (used in)Iprovided by invesling activities
4.158.482)
2218 786
Cash flows from financing activities
Capital repayments in year
Net cash provided by financing activities
19,415
Change In cash and equivalents
in the reportlng perlod
Cash and cash equivalents At the
beginning of the reporting period
(3,111,666)
2,509,080
3 189441
680,361
Cosh and ¢ash equlvalents At the end
of the reportlng period
3.189441
The notes fom) part of these financial statements
Page 18

THE HEIYRY PINNOCK AND VICTORIA & ALBERT
MEMORIAL CHARITY
NOTES TO THE CASH FLOW STATEMENr
FOR THE YEAR ENDED 31 DEcEI￿BER 2024
RECONCILIATION OF NET IIYCOME TO NET CASH FLOW FROM OPERATING
ACTIVITIES
2024
2023
as restated
Net ifteome for the ttporting period (as per the Ststsm¢nt of
Fingncial A¢tfvities)
Adjustments for:
Depr¢¢iation Charges
Gain on investments
tA)ssl(profi1) on disposai of fixed assets
Interest received
(Incre&%eydecrease in debtors
Incre4se/(decrease) in creditors
1.091848
408.302
187,633
135,094
(236,062) (113,244)
2,689
{45,390)
(54,776)
(83.731)
(2,842)
17,486
37.911
28,223
Ne¢ cash provlded by operAtions
1.027 401
290,294
ANALYSIS OF CHANGES IN NET FUNDS
At 111124 Cash flow At 31112124
Net C48h
Cash at bank
3 189441
3 111666
3,189.441
3,111,066
Debt
Finance leases
19,415
19,415
Totsl
3 189.441
3 131081
The noles fomi part of these financial statements
Page 19

THE HEIYRY PINNOCK AND VICTORIA & ALBERT
MEMORIAL CHARITY
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
ACCOUNTING POLICIES
Basis of preparlng the financial statements
The financial statements of the charity, which is a public benefit entity under FRS 102. hav¢ b¢
prepared in accordance with the Charities SORP (FRS 102) 'A¢counlin8 and Reporting by Charities..
Stafrment of Recommended Practice applicable to charities preparing their accounts in a￿ordanCe
with the Financial Reporting Stsndard applicable in the UK and Republic of Ireland {FRS 102)
(effective l January 2019),. Financial Reportin8 Standard 102 'The Financial Reporting Standard
applicable in the UK and Republi¢ of Ir¢land' and ihe Charilies A¢t 2011. The finan¢ial statetnents
haye been prepaTed under the historical cost convention. with the exception of investments which are
included at market value, &$ mrKlified by the revaluation of certain &ssets.
A¢¢oun¢ln8 ¢onvendon
These financial statements are also in accordance with the Statement of Recommended Practi￿ for
registered providers of social housing in England in 2018.
The significant accounting policies applied in the prepardtion of these financial statements are set out
below. These policies have been consistently applied to all years presented unless otherwAs¢ stated.
Going concern
The trustees &8se&s whether the use of going concem is apptY)priale, ie) whether there are any material
uncertainties related to events or conditions that may ￿t significant doubt on the ability of the charity
10 continue &s a going concern. The trLJStees make the assessment in respect of a period of 12 months
from the date of the issue of the financial statements and have concluded that the charity has adequate
Tesources to conlinue in operational ¢xist¢n¢e for the for¢s¢¢abl¢ futwe and there are no material
uncertainties alx)ut th¢ Charity's ability to ¢ontinu¢ as a going ¢on¢ern.
Income
All income is recognised in the Statement of Financial Activities once the Charity h&s entitlement lo
the funds it is probable that the income will be received and the amount can be measured reliably.
Income from charitsble activities r¢presents the maintenance charges (net of agents charges and
voids) paid by residents living in th¢ almsho￿5¢$ and rental income from other freehold propertie5
hel& foT other social letting.
In accordance with the Housing SORP. housing &ssociation and social housing grants are
recognised using the perforniance model ￿ follows:
(a) A grant that does not impose specified fvture perforn)ance-related conditions is re¢o8nised as
revenue wh¢n the grant proceeds are received or receivable.
(b) A grant that impos¢s specified future perf0M￿nCe-re1aIed conditions is recognis¢d as r¢v¢nue only
when the perforn￿nCe-relaIed conditions are met.
(c) A grant received before the revenu¢ recognition criteria are satisfied is recognised as a liability.
In certain circumstances, such as ihe sale of housing properties, these social housing grants may
become repayable. anii in the evenL is a sulK)rdinated debt and is accounted for as soon as liability
arises within creditors: amounts falling du¢ within one year.
InvestmeJrt income represents income and r¢nts received from investment properties aThl interest on
bank deposits.
Page 20
continued...

THK HEIYRY PINNOCK AND VICTORIA & ALBERT
NOTES TO THE FINANCIAL STATEMENTS - ¢onliDued
FOR THE YEAR ENDED 31 DECEMBER 2024
ACCOUNTING POLICIES- ￿ntINued
Exp¢ndlture- ch*rlt4ble activiti£4
Expenditure is recognised as soon &s there is a legal or constructive obligation committing the Charity
to that expenditure, il is probable that a Irdnsfer of economi¢ benefits will be required in settlement
and the amount of the obligation can t¢ me4sur¢d reliably. Expenditure is accounted for on an
ac¢ruals basis and has been cl&ssified under headings that aggregate all cost related to the cale80ry.
Where wsts cannot be directly attributed lo particular headings they have been allocaled to activities
on a b&8is consistent with the use of resources.
T*ngible fixed &8sets
tkprecialion is provided at the following rates in order to write off each asset over its e5titnated useful
life.
Freehold Land- Nil
Housing Prot*rties and freehold buildings- See below
Plant and machinery etc- 15Y• on r￿(￿Illg balance
Social housing and other freehold prop¢rti¢s are prin¢ipa]ly properties available for rent and are
included at V￿uatIOn, the valuation basis being ihe existing use value for social housing. Housing
properties are r¢-valued regularly. The aggregated sutplus or deficit on re-valuation is transfetTed to a
revaluation reserye.
All properties atr depreciated by component on a straight line basis over the estimated ￿SefUl
economic lives of component eategories, in accordance with the principles of component accounting
tn the Housing SORP.
Useful economic lives for identified components as follows:
Structure . Straight line over 50 years
Outbuildings- StTaight line over 50 years
Kitchell5- Straight line ov¢r 20 years
Bathrooms- Straight line over 30 years
Heating systems- Straight line over 20 years
O¢h¢r fr¢¢hold property includes costs trwgnis¢d in relation lo a new property development for
Alms Houses. On completion, the property will be trdnsferred to "social housing prowties" a￿1 the
accounting treatment will be consistent with the atrA)ve.
Inveslment property
Fixed asset investment propertie5 are a form of finan¢ial instrument and are initially recognised at
their initial wst and subsequently measured al fair value al the b￿ance sheet dale, unless the value
canrthot b¢ m¢asured reliably in which case it is measured at cost less impairnient. Investment gains or
losses and whether realised or unrealised are combined and presenÈd as "Net gainsllo&s¢s) on
investments in the Stat¢m¢nt of Financial Activities"
Taxation
The charity is exempl from tsx on its charitable activities.
Deb¢org
Trade and other debtors are recognised at the settlement amounl. after any trade discount offer&1 and
prepayments are valued 8t.ihe amount prepaid net of any trade dise4)untS.
Page 21
continued...

THE HEMiY PINNOCK AND VICTORIA & ALBERT
NOTES TO THE FINAIYCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2024
ACCOUNTING POLICIES- ¢ontinued
Debtor8
C8sh al bank In h*nd
Cash at bank and in hand includes cash and short terni highly liquid funds with a slv)rt maturity dat¢
from the detK)Sit ￿Ing made.
LIabiliti￿ and provlslons
Liabililies are reco8nised when there is an obligalion at the balance sheet date ￿ a result of a past
eveni, it is probable that a transfer of ¢¢onomic b¢n¢fil will be required in settlemen¢ and the amount
of th¢ settlement can be eslimat¢d r¢adily.
Liabilities are recognised at the amount that the Charity anticipates it will p8y to settle the debt.
Any provisions are measured at the best estimate of the amount to settle the obligation.
1*4se agreement and commitmeDts
Lease agr¢¢m¢nts are treated at present value. with interesl being rwognis¢d ov¢r th¢ wiod of the
Public benefl¢
In the previous year th¢ TTuslees enhanced the designation of the reserves to provide a clear staternent
of intent in regard to furtheTing the charity's objectives to increase its public benefit. As a consequence
a new designated reserye "Public Benefit" was created which was to be ￿sed for the acquisition of
social housing. With th¢ CLLStoms House developtnenl in pro8re55. the designation has been reversed
by the decision of the Tr￿Ste¢S and has t*en transferred io the general fund in 2024.
Furthennore, in 2024, the Trwslees have consolidated aThJ reduced the reserves held for ongoing major
repairs and cycli(xl maint¢nanc¢ across its propety FQrtfolio. The unrestricted reserves held is now
¢quivalenl to 12 months of operdlionai expenditUTe.
Property managed by agents
Where th¢ RSL Ca￿leS the financia] risk on the propety managed by agents, all th¢ In￿Me and
¢xpenditure arising from the property is included in the Income and Expenditure Account.
Employee benefits
When employees have rendered service to ihe charity. short-terni employee i￿efits to which the
employees are entitled are recognised at the undis¢ount¢d amount ¢xp¢d¢d lo be paid in ex¢hang¢ for
that service. The charity operates a d¢fin¢d contribution plan for the benefit of ils employees.
Contributions are expenses as they become payabl¢.
Termination ben¢fils refer to the benefits provided to an employee when their employment is
ternlinated by the enlity's decision, prior to the employee's norn)ai retirement date.
Pagc 22
continued...

THE HENRY PIIYNOCK AND VICTOIUA & ALBERT
MEMORIAL CHARITY
NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2024
ACCOUI¥TING POLICIES- Contlnued
Fund accounting
Gentral Funds
Generni funds are unrestricted funds which are available for use at the discretion of the Trustees in
furth¢r8nce of the general objectives of ihe Charity which have not been designated for other
purposes. other than..
The Charity's stated Reserves Policy is that the Charity holds at least 12 months, expenditure in
reserye. either in cash or short-terni deposits.
Previou51y* the Trustees designated reserves for the future major repairs expenditure on all housing
propertie5 under the l998 Housing Act atTangements and other properties in so far as the major
repairs eX￿ndItUre is not eligible for grants from the Housing Corw)fdtion or I￿al auihorilies.
Regular annual COntri￿tIOnS were set aside in an ExtraoTdiTwy Repairs reserve in accordance with
Ihe Trust Scheme d￿ed 29 June 1982. In 2024. the Trustees have consolidated and redu¢ed the
reserves held for ongoing major repairs and cyclical maintenance across its property portfolio. The
unrestricted reserves held is now equivalent lo 12 months of operdtional expenditure.
In the pr¢vious year the Trustees enhanced the designation of the resetves to provide & clear stat¢menl
of intent in regard to furthering the charity's objectives to i￿rease its public benefit. As a consequence
a new designated reserve "Public Benefit" was created which was to be used for thc acquisition of
social housing. With the Customs Hous¢ dev¢lopmenl in progress the designation has ￿en reversed
by the decision of the Trusiees and has been trarL8ferTed to the general fund irt 2024.
Revalugtion Reserve
Th¢ rEvalualion reserye is part of the unrestricted reserves and has resulted from the revaluation of the
social housing and other freehold properties
CRITICAL ACCOUNTING JUDGEMENTS AND KEY SOURCES OF ESTIMATION
UNCERTAINTY
Estimates and judgements are continually evaluated and atE based on historical exFtrience and other
r￿tors. including expectations of future events that are believed to be reasonable under the
circumstances.
The estimafys and assumptions that have a significant risk of causing a material adjuslment to the
caTrying amounts of assets and liabilities within the next fina]￿la1 year are discussed below..
Tangible Fixed As5e15 -the Charity has recognised tangible fixed a55ets (freehold propertie5) with a
¢arrying value.as detailed at the retX)rting date (note 9). These assets are included al valuation, the
valuatiun basis t*ing the existin8 use value for social housing, based on cost less provision for
depreciation and impainnenl.
Page 23
continua...

THE HENRY PINNOCK AND vicfoRIA & ALBERT
MEMORIAL CHARITY
NOTES TO THE FINANCIAL STATEMENTS- continu￿1
FOR THE YEAR EIYDED 31 DECEMBER 2024
CIUTICAL ACCOUNTING JUDGEMENTS AND KEY SOURCES OF ESTIMATION
UNCERTAIiYfY- continued
Depreciation is provided at rates ¢alculat&J to write off the cost or valuation of tsngible fixed &ssets
over each asset's expe¢l¢d ￿eful life. The clwity regularly reassesses the useful economic life of its
housing properties and other freehold buildings. When acquired the useful life of the main structures
was ￿eSSed lo ￿ 50 years. Historically the useful lives have iK¢n re-set to 50 year5 each lilne there
has IKen a revaluation and therefore future depreciation charges are based on the revalued amount and
the extended LLseful life of the building.
Investment Properties - at 3111212024. the ¢harity holds investment proiKrty at fair value. as d¢tail¢d
in nol¢ I l. In order to deterniine the fair value of investsnent property the Charity has engaged
ind¢p¢nd¢nt valuation Specialists in the area to ascertain a valuation. One of the investment Properties
held, has subsequently been sold after the balance sheet dats, and the fair value at 31112Q024 is
consistent with the sales price achieve
OTHER TRADING ACTIVITIES
2024
2023
as restated
Sundry Income
958
914
INVESTMENT II¥COME
2024
2023
as restated
Rents received
Dividends Receivable
Int¢r¢sl Received
94,507
94,530
5,204
78.527
54,776
149283
178261
Investment income represents rental income received fn)m investment properties and bank deposit
interest.
Page 24
continued...

THE HENRY PINNOCK AND VICTORiA & ALBERT
MEMORIAL CHARrrY
NOTES TO THE FINANCIAL STATEMENTS- Continued
FOR THE YEAR EfiDED 31 DECEMBER 2024
INCOME FROM CHARITABLE ACTIVITIES
2024
2023
as resiated
Activity
Charitable Activities
Charitable Activities
Charitable Activities
Grants
Social housing rents
Non S￿la1 housing rent5
770,666
557.872
11.680
162.000
386,523
24.640
1340218
573 163
Income represents the maintenance charges (net of agent5 charges and voids) paid by residents living
in the almshouses and rent￿ incoe from other social housing.
GI￿lS receiv￿, included in the abov4 ar¢ as follows:
2024
2023
as restated
LAHF grant
400th Anniversary Grant
767,641
3.025
162,000
770,666
162,000
Number of unlts m8naged by
Regls¢ered Soelal Landlord *t
31 D¢vmb¢r
2014
62
l January
2024
62
Social Hou5in8 units- almthouscs
Other rent41 prowiie$- 50cia] housing
Other rental properties- commercial
74
70
CHARITABLE ACTIVITIES COSTS
Support
costs (see
note 7)
Direct
Costs
Totals
Charitable Activities
618.984
630 984
SUPPORT COSTS
Governance
costs
Charitsble Activities
12.000
Page 25
continued...

THE HENRY PINNOCK AND VICTOIUA & ALBERT
MEMORIAL CHAIUTY
NOTES TO THE FINANCIAL STATEMENfs- ¢oDtinued
FOR THE YEAR ENDED 31 DECEMBER 2024
TRUSTEES, REMUNERATION AND BENEFITS
There were no trustees, remuneration or other benefits for Ihe year ended 31 December 2024 nor for
the year ended 31 December 2023.
Trustees, expens¢s
Out of Pock￿ expenses reimbursed to Trustees in the year amounted to £25 (2023 . £27)
EMPLOYEE BENEFITS
2024
2023
as restated
Wages and salaries
Social security costs
Other pension costs
183.068
13.883
17.824
170,667
16.473
214775
201590
Th¢ average monthly number of employ￿5 during ihe year w&8 as follows:
2024
2023
as restated
Athninistrdtion
The number of employees whos¢ employ¢¢ b¢nefils (excluding employer t*nsion costs) exceeded
£60.0(K) was..
2024
2023
as reststed
£70.001- £80.000
The Chief Offic¢r of the charity received total emoluments of £79,891 for the year ended 31
December 2024. This includes all taxable benefits and any contributions rnade by the chaTity to a
defined contribution pension scheme on their behalf.
Wl)en employees have rendered service to the charity. short-terni employ¢¢ benefits to which the
employees are entitled are reeognised at the undiscounted amount expxted to be paid in exchange for
that service. The charity operates a defined contribution plan for the benefit of its employees.
Contributions are expenses a5 they become payable.
Terniination benefits refer to the benefits provided to an employee when their employment is
tem)inated by the entity s thision* prior to the employee's nornial retiremeni da*.
Page 26
continued...

THE HEI¥RY PINNOCK AIYD VICTORIA & ALBERT
MEMORIAL CHARITY
NOTES TO THE FINANCIAL STATEMENTS- continued
FOR THE YEAR ENDED 31 DECEMBER 2024
10. COMPARATIVES FOR THE STATEMENT OF FINANCIAL AcfiviTIES
Unrestricted
funds
as restaled
INCOME AND ENDOWMENIB FROM
Charitable *ctivities
Charitable Activili¢s
573.163
Other trading activities
Investment income
Other income
914
178,261
Totsl
797.728
EXPENDITURE ON
Charitable activities
Charitable ActiVLties
502,670
Net gains on investments
113244
NET INCOME
408,302
RECONCILIATION OF FUNDS
Total funds brought forward
8.675,019
TOTAL FUNDS CARRIED
FORWARD
9,083,321
11. PIUOR YEARAtAIUSTMENT
The 2023 restatement of figures r¢lates to the reclassification of freehold property to investment
prop¢riy and the reslalement of the revaluation reserve and designated fimd.
The reclassification of investment propcrty at 3111212023 was £1,848,675. less amortisation
£121,945, being a nct IxK>k value of £1.726.730. as shown in note 13.
With thc reclassification of the investment propety. this has r¢stal¢d the r¢valuation reserve at
3111212023, as detailed in note 18. The revaluation reserve is Nil at 3111212023, due to the overall
cumulative revaluation loss. Thi5 loss was retained in the general reserve (after transfer to designaled
funds in 2023). This has b¢en adjusted in 2024 due to the upward revaluation of the social housing
and other f￿ehOld properties.
Page 27
continued...

THE HENRY PINNOCK AND vIcfoRIA & ALBERT
MEMORIAL CHAIUTY
NOTES TO THE FINANCIAL STATEMENTS - Continued
FOR THE YEAR EIWED 31 DECEMBER 2024
12. TANGIBLE FIXED ASSETS
Other
Freehold
Properties
Social
Housing
Properties
Plant and
machinery
Totals
COST OR VALUATION
At l January 2024
Additions
Disposals
Revaluations
850,￿0
4,175,314
3,607,503
20,774
29.751
(19,006)
4,478,277
4.205,005
(19.006)
3 048,202
2 992 753
At 31 December 2024
5 080 763
31.519 11712 538
DEPRECIATION
At l January 2024
Charge for year
Eliminated on dis￿SaI
Revaluation adjustmeT
37,782
45.622
227,995
103,846
11.981
4.430
(14,167)
277.758
153,898
(14,167)
290.830)
23.551
267 279
At 31 December 2024
126 659
NET BOOK VALUE
Al 31 December 2024
5,020,910
6 535.694
29 275 11.585.879
Al 31 December 2023
812,218
3 379 508
4,200,519
Cost or valuation at 31 tk¢ember 2024 is represented by:
Other
Freehold
Properties
Social
Housing
Properties
Plant and
machinery
Tota15
Valuation in 2024
5,080.763
6.6(M),256
31,519 11.712,538
On 8th July 2024, a valuation was completed on the social housing pro￿rtIeS by Jenner Jones
Chartered Sutveyors (RICS). Th¢ valuation has in¢reased to £5,900,000 for the social housing units
and £225.000 for The Lodg¢.
Other Freehold Property rel￿eS to property held for social hO￿]ng. This includes the purchase and
developm¢nl costs of a pro[￿rtY sile, which will result in housing units available for social lelling
purposes in 2026. Note 19 details the capital commitment of this project.
Page 28
continued...

THE HENRY PII¥NOCK AND VICTOIUA & ALBERT
MEMORIAL CHARITY
NOTES TO THE FINANCIAL STATEMENTS- continued
FOR THE YEAR ENDED 31 DECEMBER 2024
12. TANGIBLE FIXED ASSETS- Continued
Fixed i￿luded in the abo￿ which are held under fll)ance leases are as follows:
Plant and
machinery
COST OR VALUATION
Additions
24,004
DEPRECIATION
Charge for year
330
NET BOOK VALUE
At 31 December 2024
23.674
At 31 De¢emkr 2023
13. INVESTMENT PROPERTY
FAIR VALUE
At l January 2024
Additions
Revaluation
Impairni¢nts
1,848,675
10.343
115,725
At 31 December 2024
1,939,400
AMORTISATION
Al l January 2024
Charge for year
Impairnients
121,945
33,735
155,680
At 31 December 2024
NET BOOK VALUE
At 31 December 2024
1.939.400
At 31 December 2023
1.726,730
Investment property is r¢cogni5ed at fair value and property valuatiOT15 are performed every 5 years.
Fair value al 31 December 2024 is repr¢seMed by:
Valuation in 2024
1,939.400
Page 29
continued...

THE HENRY PIM¥OCK AND VICTORIA & ALBERT
MEMORIAL CHARITY
NOTES TO THE FII¥ANCIAL STATEMENTS - CODtinlled
FOR THE YEAR ENDED 31 DECEMBER 2024
14. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024
2023
&8 restated
Ttpde debtors
Prepayments and accrued income
8.343
7,449
Included in trade receivables are rent arrears of £8.343 (2023: £7.449)
15. CREDITOKS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024
2023
as re$￿ed
Finance leases (see note 17)
Trade creditors
So¢ial security and other taxes
Other creditot%
Accruals and def¢r￿d income
3,489
46,236
4,518
981
36,191
3,869
4,827
41J19
91,415
50.015
The average number of days between receipt and payment of pur¢hase invoices is less than 30 day&
Accruals and deferred income includes rent ￿Yable in advance of £20,134 (2023: £6,879)
16. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024
2023
as restated
Finance leases (see note 17)
15,926
17. LEASING AGREEMENTS
Leaslng Agreement
Lease weements are treated at present value, with interest Eeing recognised over the pericd of the
le&se. Capital commitments in fflaiion to the lease agreement is detsiled in the notes to the accounts.
Page 30
ntinued...

THE HENRY PINNOCK AND VICTORIA & ALBERT
MEMORIAL CHARITY
NOTES TO THE FINANCIAL STATEMENfs- CODtinued
FOR THE YEAR EIYDED 31 DECEMBER 2024
I& MOVEMENT IN FUNDS
Net
movement
in funds
Transfers
between
funds
At
31112124
At 111124
Unrestricted funds
General fund
Revaluation Reserve
Other Reserve
Designated Reserve for Public Benefit
305.483
.092.848
3.339.032
8.392.838
385,000
(2,955)
8 774 883
9.791,169
3,724.032
2,955
8 774 883
9083 321
4431,880
13 515201
TOTAL FUNDS
9083 321
4431880
13 515201
Net movement in funds, included in the a￿ve are as follows:
Incoming Resources
resources
expended
Gains and Movement
losses
in funds
Unrestrlcted funds
General fund
Revaluation Re$¢t
1,490,459
(633.673)
236.062
3 339 032
1.092,848
3 339.032
1.490,459
633.673) 3,575.094
4.431.880
TOTAL FUNDS
1.490,459
633,673) 3,575,094
4.431.880
Comparatives for movement In funds
Net
Transfers
b¢twc¢n
funds
movement
in funds
At
31112123
At 111123
Unrestricted funds
General fund
Revaluation Resetve
Other Reserve
tksignaled Reserve for Public Benefit
300.000
4,512,414
2.955
3,859,650
408,302
(402,819)
(4.512,414)
305.483
2.955
8 774 883
4915233
8.675.019
408,302
9,083,321
TOTAL FUNDS
8 675.019
408,302
9,083,321
Page31
ontinued...

THE HEIYRY PINNOCK AND VICTORIA & ALBERT
MEMORIAL CHARITY
NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2024
I& MOVEMENT IL¥ FUNDS- Continued
Cornparative net movem¢nt in funds. i￿luded in th¢ alx)v¢ gre &8 follows:
Incoming Resources
resources
expended
Gains and Movement
losses
in funds
Unrestrieted funds
General fvnd
797,728
(502,670)
113.244
408.302
TOTAL FUNDS
797,728
502.670)
113.244
408.302
A current year 12 month5 and prior year 12 months combined position is as follows:
Net
movement
in funds
Transfers
between
funds
At
31112124
At 111123
Unrestricted funds
General fund
Revaluation Reserve
Other Reserve
Designated Reserve for Public Benefit
300,0
4,512,414
2,955
3,859.650
1,501.150
7.990,019
9,791,169
3.339,032 (4,127.414) 3,724,032
(2,955)
3 859 650)
8675 019
4 840,182
13,515201
TOTAL FUNDS
8,675,019
4840 182
13.515.201
A current year 12 months and prior year 12 months combined net movement in funds. in¢luded in the
above are as follows..
InGoming ReSou￿eS
resources
expended
Gains and Movemenl
losses
in fitnds
Unrestricted funds
General fund
Revaluation Reserve
2,288,187 (1.136,343)
349.306
3 339.032
1,501,150
3.339,032
2.288,187
1,136,343
3,688,338
4,840,182
TOTAL FUNDS
4.840,182
Page 32
ntinued...

THE HENRY PINNOCK Ar￿D VICTORIA & ALBERT
MEMORIAL CHARITY
NOTES TO THE FINANCIAL STATEMENTS- continued
FOR THE YEAR ENDED 31 DECEMBER 2024
18. MOVEMENT IN FUNDS- continued
Transfers between funds and deslgnated fund
The Caroline Richards Charity fund held at 3111212023 of £2,955 has been iransferred to the generdl
fund. as was held solely for the maintenance of the graves of the Richards family in Grdvesend
cemetery. The fund h&8 been fully used to clean and repair the grave in 2024.
In the previous year the Trustees enhanced ihe designation of the reserves to provide a clear statement
of intent in regard to furthering Ihe charity's objectiv¢s to increase ils public benefit. As a consequence
a new designated reserve "Public Benefit" W&8 created which was to i* used for the acquisition of
social housing. With the Customs House development in progress, the designation has been reversed
by the decision of the Tnjstees and has ixen transferred to the generdl fund in 2024.
The revaluation reserve tr8nsfer frotn designated funds tn 2024. relates to an upwards revaluation of
social housing> allowing the cumulative revaluation deficit from 2023 to clear.
19. CAPITAL COMMITMEiYrs
Contracted for but not yet provid¢d for in the financial statemenW in relation lo building works for
other freehold property held. for social housing.
2024 £5.858.795
2023 £0
20. RELATED PARTY DISCLOSURES
Ai the date of these finan¢ial statements. five trustees were councillors of related Local Authorities.
21. POST BALANCE SHEET EVENTS
In the period subsequent to the balance sheet dale. investment property was sold to the value of
£1,275,000. The funLts are to be used for the continued dev¢lopm¢nt of the n¢w Alms Housing sit
currently included in "Other Freghold Properties..
In the post balance shed period, a valuation was completed on an investment propety. and the
revaluation has been included in 2024, 10 allow the inveslmeni to be recognised at fair value.
Pag¢ 33