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2025-04-05-accounts

REGISTERED CHARITY NUMBER: 210687

CHARITY OF LIONEL ANNESLEY DORANT FOR ALMSHOUSES

TRUSTEES' ANNUAL REPORT AND FINANCIAL STATEMENTS

FOR THE YEAR ENDED 5TH APRIL 2025

CHARITY OF LIONEL ANNESLEY DORANT FOR ALMSHOUSES

INDEX TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 5TH APRIL 2025

CONTENTS

Page

1 2-4 5 6 7 8 9-16

Legal and Administrative Information Trustees' Annual Report Independent Examiner's Report Statement of Financial Activities Balance Sheet Statement of Cash Flows Notes to the Financial Statements

CHARITY OF LIONEL ANNESLEY DORANT FOR ALMSHOUSES

LEGAL AND ADMINISTRATIVE INFORMATION FOR THE YEAR ENDED 5TH APRIL 2025

Charity name: Charity of Lionel Annesley Dorant for Almshouses
Charity registration number: 210687
Office address: 73 Pondfield Crescent
St Albans
AL4 9PA
Almshouse address: Dorant House
New Greens Avenue
St Albans
AL3 6HT
Trustees: Mrs E. Hayward (Chairman)
Dr S. Boffey
Mrs B. Brennan
Mrs G. Clark
Cllr. S. Howland
Cllr. J. Murray
Mrs. J. Singleton
Administrator: Mrs J. Hayward
Independent examiner: Philip Dean FCA
Hicks and Company
Chartered Accountants
Vaughan Chambers
Vaughan Road
Harpenden
AL5 4EE
Principal Bankers: Barclays Bank PLC
16-18 St Peters Street
St Albans
AL3 4DZ

Page 1

CHARITY OF LIONEL ANNESLEY DORANT FOR ALMSHOUSES

TRUSTEES' ANNUAL REPORT FOR THE YEAR ENDED 5TH APRIL 2025

The trustees present their annual report and financial statements of the charity for the year ended 5th April 2025. The trustees have adopted 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 (FRS102) (effective 1st January 2019).

The charity operates under the name Dorant House and provides sheltered accommodation for the elderly from its property, of the same name, at New Greens Avenue, St Albans, AL3 6HT.

Objectives and Activities

Objectives and aims

The objectives of the charity are to provide Almshouses for older people in need of accommodation who are, or have been, resident in the City and District of St Albans.

Significant activities

The charity's objectives are achieved by collecting a contribution from the residents who occupy the Almshouses under the control of the trustees. Such charges are utilised in maintaining, repairing and refurbishing the Almshouses as necessary and the paying for the support costs for the functioning of the charity.

Public benefit

The trustees have paid due regard to the Charity Commissions Public Benefit Guidance and compiled with section 17(5) of the Charities Act 2011 in exercising their powers and duties, and have sought to demonstrate that the charity continues to provide benefits to suitable persons who relate directly to its objectives. The benefits are publicly available to all who qualify. All applications are subject to due process and consideration without discrimination.

Achievements and Performance

Charitable activities

The Almshouses controlled by the trustees continue to be maintained, repaired and refurbished in order that the existing and new residents are properly catered for.

The charity has continued to provide nineteen units of reasonable rate accommodation to its residents throughout the year, with an occupancy rate of 89% (2024: 88%). The constant demand has reflected the need for such a charity that provides a valuable support service in the local community. The trustees continue a programme of repairs, maintenance and refurbishment so that occupancy is constantly at a high level.

Financial Review

Financial position

The financial results for the year as shown on pages 6 and 7 reflect the contributions received from residents, investment income received in the year, the costs incurred in collecting the income and maintaining the properties, the support costs and the financial state of affairs of the charity at 5th April 2025.

Principal sources of income

The major source of income are contributions from residents. Contributions from residents were £8,177 higher than the previous year at £147,963 (2024: £139,786).

Principal items of expenditure

The trustees continue to monitor and control costs that are incurred after due consideration.

The main items of expenditure continue to be the repair and maintenance of the properties and gardens under the control of the trustees, as well as light and heat and staff costs. Total expenditure on charitable activities increased by £25,795 to £163,735 (2024: £137,940).

Overall in the year there was a net income before investment gains or losses of £30,590 (2024: £54,353).

Page 2

CHARITY OF LIONEL ANNESLEY DORANT FOR ALMSHOUSES TRUSTEES' ANNUAL REPORT FOR THE YEAR ENDED 5TH APRIL 2025

Review of investments

The charity's investment in the National Association of Almshouses Common Investment Fund increased by £723 (2024: 10,117). During the year further shares were purchased to the value of £5,000 (2024: £5,000) and the fund received dividends of £24,352 (2024: £21,994) which were reinvested. The valuation at the year end exceeds accumulated cost by £156,066 (2024: £155,343).

The house at 49 Partridge Road, St Albans, formerly the warden's house, continued to be let commercially under an assured shorthold tenancy. The net income from this letting contributed to the surplus an amount of £10,903 (2024: £14,112). The investment property was valued, during the year ended 5th April 2023, by Leaders, Estate Agents, and for the purposes of inclusion in these financial statements and subject to the tenancy, the property is valued at £600,000, with no material change to the value in the year.

On 7th March 2024 the charity removed £350,000 from bank deposits and invested the funds in COIF Charities Investment Fund Income units. This added to a very small holding from prior years. At the end of the year the valuation of the total holding amounted to £324,718 (2024: £345,179) representing an unrealised loss of £20,461 (2024: £5,127) in the period.

The balance sheet shows net current assets of £217,995 (2024: £211,813) including cash balances of £213,403 (2024: £210,143). The charity's financial position has continued to improve over the year and it has sufficient resources at the balance sheet date to maintain its activities for the foreseeable future.

Reserves policy

The charity is required to maintain an Extraordinary Repair Fund by Supplemental Order of the Charity Commission, dated 19th November 1980. The transfer for the year to the Extraordinary Repair Fund was £5,000 (£2024: £5,000), which was in excess of the minimum required by the Charity Commission. The balance on the Extraordinary Repair Fund at 5th April 2025 amounted to £596,296 (£2024: £566,221).

The Capital Fund comprises the charity's own accumulated resources expended on the acquisition of the housing investment properties and in bringing those assets to their existing condition together with the associated investment property revaluation reserve. The balance on the Capital fund at 5th April 2025 amounted to £1,050,500 (£2024: £1,054,782).

Based on the charity's activities, the trustees aim to have unrestricted general reserves to cover one year's expenditure. The estimated average yearly expenditure is £155,000. At 5th April 2025, the charity's unrestricted general funds were in excess of the reserve policy, but the trustees consider this prudent so the charity has sufficient resources to cover the risks of unexpected repairs maintenance to the properties. General reserves are deemed to be at a suitable level to fund the day to day expenses of the charity, as well as a comprehensive insurance policy.

Total funds held by the charity at 5th April 2025 were £2,193,262 (2024: £2,182,410).

Risk management

The trustees have reviewed the major risks to the charity and considering these to be potential damage to the building. To mitigate this risk to the charity, the Extraordinary Repair Fund is being built up to fund any major work that may be required to the building. The charity also ensured that there are contracts to maintain fire alarms and extinguishers.

Structure, Governance and Management

Governing document

The governing document of the registered charity is a Trust Deed dated 10th March 1976, together with subsequent variations of the scheme. It is a registered charity and a member of The National Almshouse Association.

Organisational structure

The trustees meet regularly to manage the charity's affairs. There is a paid administrator who is responsible for day to day management and a resident warden who looks after the house and its residents.

Trustees induction and training

Trustees are appointed in accordance with the Charity Commission document dated 14th April 1982 and shall consist, when complete, of not less than seven and not more than nine competent persons being three Nominative Trustees (appointed by St Albans District Council) and not less than four and not more than six Co-opted Trustees recruited for their interest and expertise.

Page 3

CHARITY OF LIONEL ANNESLEY DORANT FOR ALMSHOUSES TRUSTEES' ANNUAL REPORT FOR THE YEAR ENDED 5TH APRIL 2025

Plans for future periods

The future aims of the charity are to continue to offer a high quality sheltered environment for the Almspeople.

Trustees

The trustees who held office during the year were as follows:

Mrs E. Hayward (Chairman) Dr S. Boffey Cllr. S. Howland Mrs B. Brennan Cllr. J. Murray Mrs G. Clark Mrs. J. Singleton

Statement of Trustees Responsibilities

The trustees are responsible for preparing the Report of the Trustees and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

The law applicable to charities in England and Wales, the Charities Act 2011, Charity (Accounts and Reports) Regulations 2008 and the provisions of the trust deed requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources, including the income and expenditure, of the charity for that period.

In preparing these financial statements, the trustees are required to:

The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charity and to enable them to ensure that the financial statements comply with the Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the trust deed. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

The report was approved by order of the Board of Trustees on 12th January 2026 and signed on its behalf by:

E Hayward Chairman of Trustees

Page 4

CHARITY OF LIONEL ANNESLEY DORANT FOR ALMSHOUSES INDEPENDENT EXAMINERS' REPORT TO THE TRUSTEES OF CHARITY OF LIONEL ANNESLEY DORANT FOR ALMSHOUSES

FOR THE YEAR ENDED 5TH APRIL 2025

Independent examiner's report to the trustees of Charity of Lionel Annesley Dorant for Almshouses

I report to the trustees on my examination of the financial statements of Charity of Lionel Annesley Dorant for Almshouses year ended 5th April 2025, which are set out on pages 6 to 16.

Responsibilities and basis of report

As the charity's trustees you are responsible for the preparation of the financial statements in accordance with the requirements of the Charities Act 2011 ('the 2011 Act').

Having satisfied myself that the financial statements of the charity are not required to be audited and are eligible for independent examination, I report in respect of my examination of your charity's financial statements as carried out under section 145 of the 2011 Act. In carrying out my examination I have followed the applicable directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.

Independent examiner's statement

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 Charity as required by section 130 of the 2011 Act; or

  2. the financial statements do not accord with those records; or

  3. the financial statements do not comply with the accounting requirements concerning the form and content of financial statements set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the financial statements give a 'true and fair view' which is not a matter considered as part of an independent examination; or

  4. the financial statements have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities (applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)).

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 financial statements to be reached.

Philip Dean FCA Hicks and Company Chartered Accountants Vaughan Chambers Vaughan Road Harpenden AL5 4EE

Date: 12th January 2026

Page 5

CHARITY OF LIONEL ANNESLEY DORANT FOR ALMSHOUSES

STATEMENT OF FINANCIAL ACTIVITIES

(Incorporating an Income and Expenditure Account) FOR THE YEAR ENDED 5TH APRIL 2025

Note
INCOME FROM
Charitable Activity:
Contributions by Almspeople
Donations received
Investments
3.
Other income
Total income
EXPENDITURE ON
Raising funds:
Investment property expenses
4.
Charitable Activity:
Residential charges collection fees
Property repairs and maintenance
5.
Lift maintenance
Light and heat
Insurance
Water charges
Garden maintenance
Council tax
Warden's salary
6.
Warden's call
Telephone
Administrator's fee
7.
Governance costs
8.
Depreciation
Sundry expenses
Total expenditure
Net income before transfers
Transfers between funds
11.
Net income before gains/(losses)
on investment assets
Gain/(loss) on investment assets
Unrealised gain/(loss) on investments
Net movement in funds
Reconciliation of funds
Total funds brought forward
Total funds carried forward
17.		 General
Designated
2025
fund
funds
Total
£
£
£
147,963
-
147,963
17
-
17
25,401
24,352
49,753
-
-
-
173,381
24,352
197,733
3,408
-
3,408
3,224
-
3,224
77,463
-
77,463
6,346
-
6,346
16,458
-
16,458
3,426
-
3,426
2,947
-
2,947
3,923
-
3,923
1,516
-
1,516
17,691
-
17,691
1,310
-
1,310
1,120
-
1,120
9,317
-
9,317
13,238
-
13,238
4,944
-
4,944
812
-
812
167,143
-
167,143
6,238
24,352
30,590
(718)
718
-
5,520
25,070
30,590
(20,461)
723
(19,738)
(14,941)
25,793
10,852
561,407
1,621,003
2,182,410
546,466
1,646,796
2,193,262
Unrestricted funds		 2024
Total
£
139,786
-
56,258
50
196,094
3,801
3,150
60,355
3,579
15,457
3,257
2,433
1,433
2,084
16,762
1,441
895
8,674
12,421
5,071
928
141,741
54,353
-
54,353
4,990
59,343
2,123,067
2,182,410

The notes on pages 9 to 16 form part of these financial statements.

All of the above results are derived from continuing activities. There are no other recognised gains or losses other than those stated above.

Page 6

CHARITY OF LIONEL ANNESLEY DORANT FOR ALMSHOUSES BALANCE SHEET AS AT 5TH APRIL 2025

Note
FIXED ASSETS
Tangible assets
12.
Investments
13.
Total fixed assets
CURRENT ASSETS
Debtors
14.
Cash with deposit takers
Cash at bank and in hand
Total current assets
CURRENT LIABILITIES
Creditors:
Amounts falling due within one year
15.
NET CURRENT ASSETS
NET ASSETS
16.
THE FUNDS OF THE CHARITY
17.
Unrestricted funds:
Designated - Capital
Designated - Extraordinary Repair Fund
General
TOTAL CHARITY FUNDS		 Unrestricted
Restricted
Funds
Funds
2025
£
£
£
454,253
-
454,253
1,521,014
-
1,521,014
1,975,267
-
1,975,267
18,602
-
18,602
102,133
-
102,133
111,270
-
111,270
232,005
-
232,005
14,010
-
14,010
217,995
-
217,995
2,193,262
-
2,193,262
1,050,500
-
1,050,500
596,296
-
596,296
1,646,796
-
1,646,796
546,466
-
546,466
2,193,262
-
2,193,262		 2024
£
459,197
1,511,400
1,970,597
14,876
100,628
109,515
225,019
13,206
211,813
2,182,410
1,054,782
566,221
1,621,003
561,407
2,182,410

The notes on pages 9 to 16 form part of these financial statements.

The financial statements were approved by the Board of Trustees on 12th January 2026 and were signed on its behalf by:

____ ____ E Hayward S Boffey Chairman and Trustee Trustee

Page 7

CHARITY OF LIONEL ANNESLEY DORANT FOR ALMSHOUSES STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 5TH APRIL 2025

RECONCILIATION OF NET INCOME TO
NET CASH FLOW FROM OPERATING ACTIVITIES
Net income for the year (page 6)
Adjustments for:
Net (gains)/losses on investments
Depreciation charge
Investment income
(Increase)/decrease in debtors
Increase/(decrease) in creditors
Net cash (absorbed)/generated by operating activities
CASH FLOWS FROM INVESTING ACTIVITIES
Investment income
Purchase of investments
Net cash generated/(absorbed) by investing activities
Change in cash and cash equivalents in the
reporting period
Cash and cash equivalents brought forward
Cash and cash equivalents carried forward
Comprising:
Cash with deposit takers (page 7)
Cash at bank and in hand (page 7)		 2025
£
10,852
19,738
4,944
(49,753)
(3,726)
804
(17,141)
49,753
(29,352)
20,401
3,260
210,143
213,403
102,133
111,270
213,403		 2024
£
59,343
(4,990)
5,071
(56,308)
285
(174)
3,227
56,308
(376,994)
(320,686)
(317,459)
527,602
210,143
100,628
109,515
210,143

Page 8

CHARITY OF LIONEL ANNESLEY DORANT FOR ALMSHOUSES NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5TH APRIL 2025

1. STATUS AND BASIS OF ACCOUNTING

Status

The charity being a registered charity is not liable for taxation on any of its investment income, nor any other gains derived from carrying out its charitable activities.

Basis of accounting

The financial statements have been prepared under the historical cost convention with the exception that fixed asset investment and the investment property are included at fair value. The Financial Statements of the charity, which is a public benefit entity under FRS102, 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 1st January 2019)’, Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ and the Charities Act 2011.

2. ACCOUNTING POLICIES

Tangible fixed assets and depreciation

Tangible fixed assets are included at cost, where that is greater than £1,000. Cost includes the original purchase price of the asset and cost attributable to bringing the asset to its working condition for its intended use.

Depreciation is provided so as to write off the cost of fixed assets over their expected useful economic lives as follows: Freehold land - Not depreciated Freehold building - 0.5% on reducing balance Subsequent expenditure - Replacement windows - Over 20 years from 2013 Furniture, Fittings and Equipment - 15% on reducing balance

Fixed asset investments

Investments, including the investment property, are included within the Balance Sheet at their market value at the Balance Sheet date. The Statement of Financial Activities includes the net gains and losses arising on revaluation and disposals during the year.

Income

All incoming resources are included in the Statement of Financial Activities when the charity is entitled to the income and the amount can be quantified with reasonable accuracy. The following specified policies are applicable to particular categories of income:

Expenditure

Expenditure is recognised on an accruals basis as a liability is incurred and is recognised where there is a legal or constructive obligation to pay for expenses. Expenditure includes irrecoverable VAT and is reported as part of the expenditure to which is relates:

Fund accounting

Unrestricted funds are available for use at the discretion of the trustees in furtherance of the general objective as they see fit.

Page 9

CHARITY OF LIONEL ANNESLEY DORANT FOR ALMSHOUSES NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5TH APRIL 2025

2. ACCOUNTING POLICIES (continued)

Going concern

The financial statements have been prepared on a going concern basis as the trustees believe that no material uncertainties exist. The trustees have considered the level of funds held and the expected level of income and expenditure for the twelve months from authorising these financial statements. The budgeted income and expenditure is sufficient, together with the level of reserves, for the charity to be able to continue as a going concern.

3. INVESTMENT INCOME

Rents receivable
NAACIF Accumulation Units:
Distributions invested
COIF Income Units:
Distributions received
Interest receivable		 General
Designated
Total
fund
fund
2025
£
£
£
14,311
-
14,311
-
24,352
24,352
9,586
-
9,586
1,504
-
1,504
25,401
24,352
49,753
Unrestricted funds		 Total
2024
£
17,913
21,994
9
16,342
56,258

4. INVESTMENT PROPERTY EXPENSES

Agents and professional fees
Repairs and maintenance
PROPERTY REPAIRS AND MAINTENANCE
Flat refurbishment
Flats - Fixtures and fittings
Electrical EPC reports - flats
Electrical work - flats
Roof repairs
Redecoration - communal areas
Electrical work - communal areas
Fire equipment maintenance
General repairs and maintenance
STAFF COSTS
Wages and salaries
Pension costs
Payroll admin costs
Average weekly number of persons employed during the year:
House staff - Warden
Page 10		 2025
£
3,300
108
3,408
2025
£
39,466
1,857
-
11,612
14,050
2,201
2,214
1,415
4,648
77,463
2025
£
17,106
326
259
17,691
1		 2024
£
3,801
-
3,801
2024
£
39,235
1,585
1,400
3,041
-
-
7,005
2,833
5,256
60,355
2024
£
16,214
303
245
16,762
1

5. PROPERTY REPAIRS AND MAINTENANCE

6. STAFF COSTS

CHARITY OF LIONEL ANNESLEY DORANT FOR ALMSHOUSES NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5TH APRIL 2025

7. SUPPORT COSTS

Administrator's fee Charitable
Governance
Total
activity
cost
2025
£
£
£
9,317
9,317
18,634
(Page 6)
(Note 8)		 Total
2024
£
17,348

8. GOVERNANCE COSTS

Annual accounts and Examiner's fee
Subscription - National Almshouse Association
Support costs (note 7)		 2025
£
3,480
441
9,317
13,238		 2024
£
3,360
387
8,674
12,421

9. TRUSTEES' REMUNERATION AND BENEFITS

There was no trustees' remuneration or other benefits for the year ended 5th April 2025 nor for the year ended 5th April 2024.

10. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES

Note
INCOME FROM
Charitable Activity:
Contributions by Almspeople
Donations received
Investments
3.
Other income
Total income
EXPENDITURE ON
Raising funds:
Investment property expenses
4.
Charitable Activity:
Residential charges collection fees
Property repairs and maintenance
5.
Lift maintenance
Light and heat
Insurance
Water charges
Garden maintenance
Council tax
Warden's salary
6.
Warden's call
Telephone
Administrator's fee
7.
Governance costs
8.
Depreciation
Sundry expenses
Total expenditure		 General
Designated
fund
funds
£
£
139,786
-
-
-
34,264
21,994
50
-
174,100
21,994
3,801
-
3,150
-
60,355
-
3,579
-
15,457
-
3,257
-
2,433
-
1,433
-
2,084
-
16,762
-
1,441
-
895
-
8,674
-
12,421
-
5,071
-
928
-
141,741
-
Unrestricted funds		 2024
Total
£
139,786
-
56,258
50
196,094
3,801
3,150
60,355
3,579
15,457
3,257
2,433
1,433
2,084
16,762
1,441
895
8,674
12,421
5,071
928
141,741

Page 11

CHARITY OF LIONEL ANNESLEY DORANT FOR ALMSHOUSES NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5TH APRIL 2025

10. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES (continued)

Net income before transfers
Transfers between funds
Net income before gains/(losses)
on investment assets
Gain/(loss) on investment assets
Unrealised gain/(loss) on investments
Net movement in funds
Reconciliation of funds
Total funds brought forward
Total funds carried forward
TRANSFER BETWEEN FUNDS
Amount of transfer		 General
Designated
Note
fund
funds
£
£
32,359
21,994
11.
(402)
402
31,957
22,396
(5,127)
10,117
26,830
32,513
534,577
1,588,490
17.
561,407
1,621,003
Capital
Extraordinary
Capital
Revaluation
Repair
Total
Fund
Reserve
Fund
2025
£
£
£
£
(3,976)
(306)
5,000
(718)
Unrestricted funds		 2024
Total
£
54,353
-
54,353
4,990
59,343
2,123,067
2,182,410
Total
2024
£
402

11. TRANSFER BETWEEN FUNDS

The transfer from General Fund to the Capital Fund comprises the release of resources required to fund the balance sheet carrying value of the fixed asset property investments.

The transfer from General Fund to the Extraordinary Repair Fund of £5,000 is for the purpose of providing resources for major repairs to the charity's housing property.

Under a supplemental order of the Charity Commission dated 19th November 1980 the minimum annual payment to be made into the Extraordinary Repair Fund is £900.

Page 12

CHARITY OF LIONEL ANNESLEY DORANT FOR ALMSHOUSES NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5TH APRIL 2025

12. TANGIBLE FIXED ASSETS

Cost
At 6th April 2024
Additions
At 5th April 2025
Depreciation
At 6th April 2024
Charge for the year
At 5th April 2025
Net book value
At 5th April 2025
At 6th April 2024		 Furniture,
Freehold
fittings &
property
equipment
£
£
548,628
66,686
-
-
548,628
66,686
(93,846)
(62,271)
(4,282)
(662)
(98,128)
(62,933)
450,500
3,753
454,782
4,415		 Total
£
615,314
-
615,314
(156,117)
(4,944)
(161,061)
454,253
459,197

All tangible assets were used for charitable purposes.

The charity's freehold property comprises the housing property known as Dorant House, New Greens Lane, St Albans, AL3 6HT. Cost includes the purchase cost of the site incurred in 1978 amounting to £30,000 and subsequent expenditure on building costs amounting to £518,628 and expenditure on replacement windows incurred in 2012/13 and 2014/15.

The site acquisition costs is not depreciated. The vacant possession market value of the property is estimated by the trustees to be of the order of £1.5 million at 5th April 2025.

13. FIXED ASSET INVESTMENTS

At 6th April 2024 at valuation
Additions at costs
Distributions reinvested
Unrealised gains/(losses)
At 5th April 2025 at valuation		 Extraordinary
General
Capital
Repair
Fund
Fund
Fund
Investments
Investment
Investments
COIFCIF
Property
NAACIF
£
£
£
345,179
600,000
566,221
-
-
5,000
-
-
24,352
(20,461)
-
723
324,718
600,000
596,296
Designated funds		 Total
£
1,511,400
5,000
24,352
(19,738)
1,521,014

All investment assets are held within the UK and in order to provide an investment return for the charity.

The charity's investment property held in the Capital Fund is the detached house at 49 Partridge Road, St Albans, AL3 6HT, formerly used to provide warden's accommodation, currently let on an assured shorthold tenancy. The original cost of the property was £49,403. The property was valued in the year ended 5th April 2023 for the purposes of inclusion in the financial statements by Leader, Estate Agents at £600,000, with no material change to the value in the year ended 5th April 2025.

The charity's investment held in CCLA Investment Management Ltd COIF Charities Investment Fund Income Units is stated at market value at 5th April 2025. Historical cost amounted to £350,200 at 5th April 2025 (2024: £350,200).

Page 13

CHARITY OF LIONEL ANNESLEY DORANT FOR ALMSHOUSES NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5TH APRIL 2025

13. FIXED ASSET INVESTMENTS (continued)

The charity's investment held in the National Association of Almshouse Common Investment Accumulation Shares are stated at market value at 5th April 2025. Historical cost, comprising the original investment, subsequent additions and accumulated dividends amounted to £440,230 at 5th April 2025 (2024: £410,878).

14. DEBTORS

DEBTORS
Contributions receivable
Prepayments		 2025
£
16,749
1,853
18,602		 2024
£
10,225
4,651
14,876

15. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
Social Security and other taxes
Resident payments in advance
Accruals		 2025
£
270
4,954
8,786
14,010		 2024
£
498
3,192
9,516
13,206

16. ANALYSIS OF NET ASSETS BETWEEN FUNDS

Unrestricted Funds:
General Fund
Capital Fund
Extraordinary Repair Fund
Unrestricted Funds:
General Fund
Capital Fund
Extraordinary Repair Fund		 Tangible
Fixed asset
Current
Current
fixed assets
Investments
Bank
assets
liabilities
£
£
£
£
£
3,753
324,718
213,403
18,602
(14,010)
450,500
600,000
-
-
-
-
596,296
-
-
-
454,253
1,521,014
213,403
18,602
(14,010)
Tangible
Fixed asset
Current
Current
fixed assets
Investments
Bank
assets
liabilities
£
£
£
£
£
4,415
345,179
210,143
14,876
(13,206)
454,782
600,000
-
-
-
-
566,221
-
-
-
459,197
1,511,400
210,143
14,876
(13,206)		 Net assets
5th April
2025
£
546,466
1,050,500
596,296
2,193,262
Net assets
5th April
2024
£
561,407
1,054,782
566,221
2,182,410

Page 14

CHARITY OF LIONEL ANNESLEY DORANT FOR ALMSHOUSES NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5TH APRIL 2025

17. FUNDS - ALL UNRESTRICTED

General Fund

The General Fund comprises the accumulated revenue surpluses available on the charity's general objectives as the trustees see fit together with the associated investment revaluation reserve.

Capital Fund

The Capital Fund comprises the charity's own accumulated resources expended on the acquisition of the housing investment properties and in bringing those assets to their existing condition together with the associated investment property revaluation reserve.

Extraordinary Repair Fund

The Extraordinary Repair Fund comprises the accumulated resources designated by the trustees to be set aside to meet extraordinary repairs, improvements or rebuilding of the Almshouses together with accumulative investment distributions and unrealised investment gains.

GENERAL
Accumulated surplus
Investments:
Revaluation Reserve
DESIGNATED
Capital Fund
Accumulated resources
Investments:
Revaluation Reserve
Extraordinary Repair Fund
Accumulated resources
Investments:
Revaluation Reserve
Total Designated Funds
Total Funds		 Balances
Transfer
6th April
Incoming
Outgoing
between
2024
resources
resources
funds
£
£
£
£
566,534
173,381
(167,143)
(824)
(5,127)
-
(20,461)
106
561,407
173,381
(187,604)
(718)
503,879
-
-
(3,976)
550,903
-
-
(306)
1,054,782
-
-
(4,282)
410,880
24,352
-
5,000
155,341
723
-
-
566,221
25,075
-
5,000
1,621,003
25,075
-
718
2,182,410
198,456
(187,604)
-		 Balances
5th April
2025
£
571,948
(25,482)
546,466
499,903
550,597
1,050,500
440,232
156,064
596,296
1,646,796
2,193,262

Page 15

CHARITY OF LIONEL ANNESLEY DORANT FOR ALMSHOUSES NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 5TH APRIL 2025

17. FUNDS - ALL UNRESTRICTED (continued)

GENERAL
Accumulated surplus
Investments:
Revaluation Reserve
DESIGNATED
Capital Fund
Accumulated resources
Investments:
Revaluation Reserve
Extraordinary Repair Fund
Accumulated resources
Investments:
Revaluation Reserve
Total Designated Funds
Total Funds		 Balances
Transfer
6th April
Incoming
Outgoing
between
2023
resources
resources
funds
£
£
£
£
534,577
174,100
(141,741)
(402)
-
-
(5,127)
-
534,577
174,100
(146,868)
(402)
508,477
-
-
(4,598)
550,903
-
-
-
1,059,380
-
-
(4,598)
383,886
21,994
-
5,000
145,224
10,117
-
-
529,110
32,111
-
5,000
1,588,490
32,111
-
402
2,123,067
206,211
(146,868)
-		 Balances
5th April
2024
£
566,534
(5,127)
561,407
503,879
550,903
1,054,782
410,880
155,341
566,221
1,621,003
2,182,410

Page 16