2024-04-05-accounts

CHARfTh REGISTRATION NUMBER: 211424 The Lowestoft Church and Town Almshouse Charity Financial statements 5 April 2024

The Lowestoft Church and Town Almshou8e Charity Financial statements Year ended 5 April 2024 9• Tntst•es' annual r•port Indgpondfjnl aurfitorf$ rfjport to th8 I￿￿tee$ St41oment of fin4noal acii%fjbes 11 Balance sheat 12 Notès to the finandal statements 13

The Lowestoft Church and Town Almshouse Charlty Trustee8' annual rnport Year ended 5 Aprfl 2024 Thè ffinan¢il #l•rn•nls h•%• I)￿ prww•J kn •c<<Kdmi th• •ruuntvig pri•s wt in not•$ to th& 8c¢ounts and compty wilh the ¢thaiitfs go¥emYy d0￿Ment, the Charrlies Act 2011 and ArKounling and R•portlng by chart￿.. Slthwnt ol Re￿mrnerthd Prac¥￿ 0￿4b19 to chaths preparlrvJ tlwlr accounts in a￿ance vAth th• FlnarKW Repth Stwth Appkablè In ts UK and Ro￿￿1￿ of hl8Th1 publlshed In Octob•T 2019. R•ght•r•d ¢h•rty n Ch•rlty r•gl•tr•lJon 211424 Prfnclp•l offlc• Lowestoft NR32 1FF Th• Ifu•tM• The trullwi whD ¥•rMI dwlng ts y•w and ￿ th• dth of apwovd r• # folm: Mr A sId￿lfi￿. Nthn•tk¥tr i ex Offldo Ichoknwi) J Cdlh. Cwtallve PAl8s G P BucJey. Irened l(MJ5raw) P Shw. Ex Orndo tr P KnW- Nomin•11￿ (r••lyn•d 12107r2023) trs M Ecd•i. Co&QPt•¢ Vlss R Patt•r$on- fvk)mknwb% Iroslwwd 10101rk024) C L¢•c*. N(thwwti¥• E yO￿9m￿n- Nomlnkn(rn81o￿d 1ZI17r2023) M G•1. NorTth•tro A 88llrkk. Cfyopl•tl P PAg•- Ntsrrantiti￿ {wlnted 131CW21Y23) A P•wc•- NcthIn•ii￿ {4ppoini•d 111W2023) G Battri￿. R•v S Stok••- Ex Offico M HoW￿- No￿n￿l¥• (4ppoint•d 1¢I￿lr2024)

The Lowestoft Church and Town Almshouse Charfty Trustaes, annual report fthiiiftu•rfl Year ended 6 Aprll 2024 Mr M 8reez• Norfon Pe$kott Soli¢1 18 Church Pl8ln Great Ya￿OUth Norfolk Regulator of Soclal Houllng numb•r A1160 Audlt Lo¥ewd Bl¥k• LLP Chartered accounlants & stalulory audllor B•nk$ldè 300 Peachman Way Broadland Business Pa No￿•Ch NR7 OLB Bank• Bardays Bank Pk 61 London Road North Loww610 Sullolk NR32 1LT Sta¢kbMk•r8 Barreil & Cooke 516 Opte Stre•t Norwi¢h Norfolk

The Lowestoft Church and Town Almshouse Charfty Trustees. annual report (¢o•thw¢ Year ended S Aprll 2024 A¢tlvlil•8 Purpo808 and r Charlll$ purp06e$ are lo b•ngfit the publlc by provldlng Aknshouses lo provldo aGcommodatlon fty the poor and elderfy of Lowfjsto en$urlnq oww0￿ dallv•rs alH We rthrf•w our alms. obleclfvgs gnd 8dlNltl¥s ea¢h year. Thls T8vlèw looks al wh•1 w• 8¢hl•¥ed and thw oulcomes ol our worf¢ In the ple￿Ou$ 12 months. Tha reviow looks 41 the suc￿3 of 88¢h key aelI￿ty and the benefits ttw have broughl to Ihose group8 of people we ore sel up to hglp. The review Also helps us onsuro our aim. obj8cIN•S and acti￿1185 remained forAtsed on our staled purpo$8s. We have reftrted to Ihè guidance con¢ain¢d in the Charity Comrnisslon's general guldance on public bonefft when re￿awIng our alm and objectives and In p18nnlng our fuiure acllvllks. In partlcular. the Tru$l¢es v)nsid¢r how planned a￿￿tIeS 11 contrlbule lo the awns arKI obledl¥es Ihey have s•1. How our ac1fv1tl•s d•lfv•r publlc b•n•fft Our rnaln andwhowè lry lo t￿pared•S¢￿d above. Al charltabl8 adwligs fows on providing aKommodw)n lor Ihe poor and alderty ol Lowesloft. The Lowesloft Church and Town Alm¥house Chsrity administsrs g 0167 almshouseswith 2 untts ofwardens acc0mn￿dal10n. Obl•¢OvM and a¢llvltl•# The thartty has a pollcy ol fAnllnual repalrs and Improvements lo Ch￿h Gréen almshouse vAih a vitr to upgradlng Ihe a(xommodaknn lo be able to prowde • far grtaler rosldontlal area lo boneffit Ihe occupants. Thg chlty ha¥e adoptfjda policy of adding bedro¢m$ lo bed-sil accommodallon where p0851bl• and 8 furlhof converslon of Ihre• bed-sll fials lo fomi to one Wroom Il#ts has bèèn ￿mMenced In the lasl year. Alm¥ •nd str•t•gl As properties bocome unoccupl¢d Ih•y *• r•fU￿1$h•d 4$ necess￿ and th• charfty alms lo Mn#nu• wilh thè oftgoing bed.sit Conv￿1) CharW$ a¢hl•v•m•nts In rnlallon lo alms for publ1¢ b•n•fit Ongolng ma5n¢onan¢• and dgwallon of th• skn hgs b•8n out lo makntaln Ihe hlgh stsndard ol acc4)mmod8llon provthd lo the benefi¢i•ri•s of the ¢harity.

The Lowestoft Church and Town Almshouse Charity Trustees. annual roPOrt(¢onthw Year endod 6 Aprfl 2024 Achl•v•m•nts and p•rfomi•nc• Th• charfty crmllnu•s wtth Ils general I•￿rG and Imwowm•nl$ al the Church Gr•on ￿M$hoUs•S wllh • vhw to upgradlng th• accommodallon. The 0160 has plans wh•n lund6 4T• avallabl• lo und•rlake slgnlflcanl bull¢fvthks lo the Ihre&$lorny block ol flats lo add bedrooms lo Ihr•g bed$ll prop•rlleg. As a r&sull of changes to Bulldln9 Reoulallon$ following lh• Gr8enf811 tragedy. Ih05e works will Involv• o)mplole romodglllng of the Ihroe Ilals and VAII be ot • $tgniffi¢Jnl eML This has ¢urr•nlly b••n dd•y•d du• lo tgh bulld co$t8. Fln•ncknl M¥l•w The mults ofth• Charfty ar• 8•1 oul In dolall p•g• 11. p￿n61p41 FuThdlng S￿1$•• Th• ch•rfll•ts m•ln of Inci)m• r•nt•l Inwm• from Indl%thal l•n•rts andlor hou￿Tr9 ben•fil. R•MrvM Pollty The unr•slrfct•d rei•Ms qrn u8•d lo ffln•r¢c•th• ch•rfty on • dal￿b•ll8. Tho r•i•rvttw• r•gul•rfy rnvl•w•d by the Tru81ee8 In order lo ensure that th&re18 enough fundlng avallablè for lh• ¢hwlty ¢0 cortbnu• In th• foreseeablo luturo. Free I•1•r¥￿ •m¢)unl to £92.558 as 015 Aprl 2024 (2023.. £424.288). D•slgn•l•d funds thlch r•pr08•nl Iho ExiraoTdln•ry R•palr Fundw•r• pi•vlousty r•duc•d lo £NII as lh• fund w$ fulty utillged lo fiMn¢e Ih Pha1• 111 d6v•lopmenl ￿ th• Long's Dlry Sl1•. Th• Chartty hai prtvlouily mad• •nnu•l cfjnlrfbullon¥ lo Ihli fund It) th• sums adA8ed by th• Alm$h¢us• A$iod•Uon, Th• ¢h•rfty h•$ mainthlned It8 bJlldlng8 regulaty and ag roqulr•d, h h•s not be•n noc•J$ary to mak• a wllhdrawal from lh• Extrnordinary R•￿ir Fund for iom• y•4r. Since complètton of th• Ph#￿ 111 d•¥￿0pM•nI, lh¢ annu c4nlrfbutlonJ h•v• ¢omrnonc•d I)n￿ •g•ln lo bulld up Ihè r•i•MI lo Iln4n¢g ¥ub•lgnll•l ond •xlrnordlMry r•poirs or future d•volopm8nl$. Ther• Is In omounl$ rKommend•d by Ihe Almthousa As•ocl•Uon. Th• balanc• ol Exlfaordlnary Repjlr Fund •15 Awil 2024 w•• £197.447 (2023.. £100.428).

The Lowestoft Church and Town Almshouse Charity Trust￿$. annual reporl (thgthu•¢ Y•ar •nd•d 5 Aprll 2024 Gov•rnlng docun•nt Th• Ch•rity 1$ r•gty1w•dT￿thfr Chly Con1n￿ andw8s crn•d by sthemtt on 14 March 1986. TnMt•• appolntm•rt ory•th•lknnal TN$t••$ We dlhw noM￿ed ty LTh¥•sloft (Xkn Bfoad Parlth Courol or St Mwgoref8 P•rothl81 Church C￿n￿. cwt•d by exlstr¥ tr￿1￿5 or we exrfKIo. Th• Trn81••8 m••t on 4 lknonttty b• k+ tIK• ro•uh PTOWMS of Ihe dwrlly • N4•w to th• b•n•f ItAy to othe Th• d•y to d•y •dmird$tron ol th• 8owtr$ Is und•rt•kffi tyth• Clork th• supwbl8l¢n ofth• Tr￿18&1 who m••t bl•morttty re¥lv# •xp•nthluM. Fundrnknlng Ai th• dom nol •clfrth fundrnlm frcffi the Ily m not i•￿•Md wllh th F￿d￿kn1 Regulator. Rl•lt M•n•g•m•rt Th• IN•1•￿ hw• 8M••Md th• mrf to •w•d •nd •r• MI1•1￿1 th•1 thor• tsm8 kn pl•¢• lo M￿9110 Ilw rhks. tsd P•rtl Th• thathy w#h Th• LThbwloft Ch•thy Bowd. Tho tr•0 hw• wmmon lJu•l••• w• admlnhl•red ¢ommonty •t the regbtwed ollke. Th• Ir•TMaLion b•lw••n th• th•iilh$ 1$ the PAymenl ol an Inl•rcgmwny low balan￿ Wd tAh Th• L￿110ft ChArity Board. The tNstee8 do not n•ld¥ It 4pprowhte lo ¢¢MMdhJ•t¢ lh• r•sth as th dwrtllol obj•¢t￿S.

The Lowestoft Church and Town Almshouse Charity Trustees, annual report (coniinuedj Year ended 5 April 2024 Trustees. responsibilities statement The Iiustees. who are also directors lor the puryjoses ol company law. arè responsible fgl preparing the trustees, report and the financial statements in 3ccordan¢e with applicable law and Uniled Kingdom Acctsunling Standards (United Kingdom Generally Accepted Accounting Practs'cel. Company law requires the charily Injstees to prepare financial statements for each yèai which give a Itue and lair Mew ol the state of affairs ol the chaiilable company arml the incomtng resources and application of resources. induding the income and expenditure. lor that per¢od. In preparing Ihese financial slalemenls. Ihe truslees are required lo.. select suitable accounting poliaes and then apply them ¢onsislenlly'. observe the method5 and principles in the applicable Charities SORP 2019 IFRS1021.' make judgmenls and accounbng estimates Ihat are reasonable and prudent," state whether ap￿ICable LIK accounling standards have been followed, 5Ut4'eGI lo any malertal departures disclosed and explained tn the financial 51alemenls'. prepare the financial statements on the going concem basis unless il is inappropriale lo presume that the charity will conlinue in operation. The trvslees are responsible for keeping proper accounling records Ihal disclose wilh reasonable a￿uracY al any lime the finan¢ial posttson of thè chaiity and enable them to ensurè ihal the financial slalemenls ¢omply with the Charilies Act 2011, Ihe Charities (Accounts and Reports) Regulalions 2008 and Ihe provisions ol the Trust Deed. They are also responsible lor safeguarding the assels ol Ihe charity and hence for taking ieasonablè sleps for ihe prevèntion and dètection of fraud and olher iiregularitiès The financial slalemen15 have been prepare(I lo give a Iruè and fair view and we have departed Irom the Charities IAccounls and Reporlsl Regulations 2008 only to the extent required to provide a 'lriJe and fair view- This departure has involved Ihe Accounting and Reporting by Chafilies." Slalement ol Recommended Pracltce applicable lo d)arrties prepaving their accounts in accordance wilh the Financial Reporting Standard applicable In the UK and Republic ol Ireland IFRS1021 issued in Odober 2019 rather than the Accounting and Reporting by Charitses: Statement of Recommended Practice effective trom 3 April 2005 which has since been withdrawn. The Iru51ees' annual reportwas approved on.1/J<./&Tr￿ Z/and signed on behalfoflhe board oftrustees by.. Mr R Stebbings- Nominative Trustee Offiuo {Chaim)anl

The Lowestoft Church and Tovffi Almshouse Charlty Independent audltoes rewt to the trusteos of Th• LoW￿t0ft ChurGh and Town Almshouse Charlty Yaar and￿ S April 2024 Oplnlon We have au¢d l￿finandal st0M•￿ L(y￿10flChurch 4ndT￿nAIMGho￿$fj Charity Ilh•'chari far lh• year •nd•d 5 Awl 2￿4 vrtl¢h corwtse the 8tat•m•nt crf fin￿(a41 8clliiUes. bthnce sheet and the r•l•led notes. Indudln9 SIW￿fi￿nI acc￿nI￿9 pollcl•8. The fflnonclgl r8POrtlng Ihal his bèan applled In Iholi proparauon * athl¢abkn Urithd K¥Wom Accounllng Stwdard$. I￿￿ding FRS 102 The FlnarKlal Reportlng Stondwd •pplic•td• in th• im( and Rewbllc of Ireland (Urwted Kwwdom G￿erAlY In our op1n1￿ th• thI•m￿: • Iwo and lair ol lh• 8tat• ol th& thwW$ affs as al 5 Awil 2024 and ol #8 Irthng Iwour￿ and o1r•¥oWc￿. inththw 18 k%ome •xp•ndilur•, tr th• y•w then anded.. have been prop•fy w•pw•d ¥1 •cctydvK• wmh Unll•d Klwhm GonW￿lY A(￿pI•d Accounlkng Pr¢tlc•: ha￿ boen prepwtd kn accordm th• 1•wIr•N￿ts ol th• Chwltbg• Pt 2011. th0 d R•pn•r•tlon Ad 2(XXI th• Dhckn for Pthith R•t•r•d Provld•r• of Sod41 2022. lor oplnlon INe conducled our wall In accordanc• Int•rrwknl on Audlung (UK) OSAS IVIQ) •nd appIl￿b1618w. Our r￿ponSIbIl￿￿$ sland•rd$ ar• fwiher desulbed In tho Audllor r•Sponsi￿l￿A f¢rlh• •udll of lh• fin•noaal •l•t•m•rts ucilon olour We Ind•p•ndent ofth• chlty In •c¢ordAnc• wtth lh• •thl¢•l r•qulr•m•rl8 Ihat • r•l•vnl to I￿r of t￿ financlal st•l￿•D￿ In th• LK. Induthng lh& FRC'• Ethl¢•l St•r#Jwd, WKI ￿ h4w other •llkal r•sponBibilili•i li fLOrd•n￿ htylh these r•qur•m•nts. We Ihat Ihe aud evhJerKe ￿ hav• obtaln•d i¥ ¥ufau•nl wropilile lo prn￿de bmlg for our op1￿n. Conolu•lon• v•l•tlng to g01ry ¢onc•rn In udhlng the It41em￿th. tA h•¥e th•1 th• tyu8t•••' of lh• gok4 concwn bmli of B#8ed on the W￿kwo hove perfomKd. we hav• not kl¢th •ny mal•rial unv4rtntg retating lo events or conlrrtions thal, indr4idualy or ￿, c•st 8lwlfflcant th)ubl on th• dwiity'¥ Jtiilty lo as A going Mn¢•m for • •11o•81 Iw•l¥ monlhi trom thè fkn•nd81 Stalwnents •r• aulhorlled for luu•. r ro$ponS￿￿tI•l and th¢ ¢f*• In¥t•M w(th i•y¢l to (¥Jrmm d袢rfb•d In lh• rd•vanl of Ihl$ r•p

The Lowostoft Church and Town Almshouse Charity Independent audltorfs report to the tr118tees of The Low•stoft Church and Town Alrnshouse Charlty (cwthy Year ended 6 Aprll 2024 Oth•r Inlommllon The other InloThatlon Q￿p[l$e$ the Infomiauon Induded In the trustees. annual report. other Ihan the financlal statements and our aud11￿6 wort Ihereon. The Irustees are responslble for the other Infomiallon. Our oplnlon on the finandal 8tal&m¢n18 does nol ￿81 the oiher Infom8llon and we do not exweu ony fomi of asswance conduslon Ihet40n. Our respon$ltyllty ts to read the olher Inlomallon and. In dolng so. conslder whethor Ihe olher Infonnallon ts malerlally inconsistenl wth the financlal stslemenis or OUT knowledge obtalned In lh• course of the audll, or othemise appear8 lo be malerialty mlsstoled. Ilwe Idenllfy 8u¢h malerfal Incon8lslencles oiapparènl malerfal IIIIS5talements. we are requlred lodelennine whetherlhl$ gives rise lo a m81•rial ndy¥lal•mertl In th¢ ffinandal stalaments thernsèfv8s. 11. based on tht Work w8 have parformèd. wa ctsndudè ihat them ig a mal•iial mi$sl8lemenl of Ihts other inforniation. we are rgquired lo report that fa¢L Wè hève nothln9 to report In IhSs ffjga￿. Mattern on whl¢h w• •rn r•qulr•d ts rnport by •xc•pllon We have Thjlhing to rep¢>rt in respect of thè lolltrmng matters whèrè the Chaiiuès IAc¢ounls and Reports) Regulailons 2008 requir98 u$ to reporl lo youll, In our oplnlon- th• rfomwVon glven In the tru51¢es' report is ￿￿OnsIStenI h 8ny maleiial respec¢ wllh the ffinorKlal Slatemenls: or $th¢i8nl aGrA)unting reGords hav0 nol boon k•pl: or the 17n￿GI81 statements ar¢ not in agreernent wilh the reco￿$. or we have ￿t r¢rAi¥ed am Ihg inlomiallon and explanations we requlre for our authl. addition. we have nolhlng to report In re$pacl of t￿ frAlowlng mallerwhete Ihe Houslng and Regenerallon kt 21x18 requr•$ us to reporl to you il, in our optnion: g sa￿sIa¢¢ory system of Gontrol over trans•dion$ ha$ I￿1 bo•n mainloined. ResponBlbllltte• of tnwtses As explalned moro fulty kn Iho Iruslees. resFrf>n¥lbllllès slèlemwl {set out on pay 6). Ihe IN8l•eg •r• re$ponsiblfj for th• proparntion ol th• financial statwnènls and for bèing $8tisffied that they give • INe and fa ryew, and forsuth ￿tern?1 as the trustees d8lermlne is necessary toenable the preparnllon of ffinancwl slalernenls thal are free knm rnaltrial mis$lal•menl, whèther due lo fr4ud oreffor. IN weparfng th? flnanclal slalemenls. th& Iruslees are responslble for assesslng th8 thaiity's llty lo continue as a going con¢em, disdosing. as appllcabie. mallers related to golng con¢em and u$lng the golng neem basis of accounllng unless tho tntslee$ either in1￿d to liquid8le thè ¢hwity or to cA4se operations. OT h￿￿ no realsll¢ *mai¥8 bul to do so.

The Lowestoft Church and Town Almshouse Charity Independent audltorfs report to the trust￿5 of Th8 Lowestoft Church and Town Almshous• Charlty (¢Mth¥u•• Yoar ended 5 April 2024 We have been ¥poknled as awlrt¢Y wAion 144 of Ihe Chartll•s A( 2011 and rwrt in accordanc• wilh th• Act and relevarrt r•￿￿n8 m•d• or havry èllt( Ihertjjnder. free frorn malefiO1 mlsslalement. whether ikn to frnud or •rrnT. tffjd Issu& an au¢Jtorfs reFQrt Ih81 Indud our oplnl+Jn. Re8GonAble as$L￿Ce Is a Ngh IMI of assur•rK•. Ixrt 1$ not * gUar￿lee that an audll e¢)ndud•d In ISAI OJK) wll ws d•te¢t a m•t•rial mistalam8rt It èxlsts. Ml•st•lem¢nl• can from frwl or •rmr rd• ￿nildernd materlal If. hdmdualty or kn lh• 9ggregg1e. thy ¢ould roasonatrAy b• to bnknc• lh• •coMmk ded￿On$ of usets taken on the basls ol th•s• firAncld StaI￿rth. Ingular￿•I, Indudln9 tr￿1, of nonwcompNwK• ilh Iws •ThJ r•9￿1￿￿$. We d8$lgn Pr￿dur•I In Ilno ￿th our rn¥ponthWtkn8. ￿rtInd •bM. lo detect m8lerfal ml8slal•m•rts In r•$pe& of Irrngulathl•s, IrKaudrt fraud. Th• •xnl to whK our procedw•s are capablè of detecllng wuIarf￿, I￿1￿￿n9 If•ud h d•ld b•lw. Enqulry ol •nYty to In•l•n¢￿ of n(fr¢o￿l￿ wllh l• f•￿11￿1￿. R•vlvthng flnwKad slatem￿l ￿￿10$u1•S I•￿Tra kn •uFpth ()cumonl•¥on to •M•s$ complIan￿ vllh 4pWkalJl• Iw•A And re9￿￿OnI. entr1•8 and other 4dlu61m•nts fw apwoprin•88. •v4ualkng lh• r•llonah of $lgr•nl hnMcllon• o￿ld￿ th• noffl￿ cour￿ ol actsiryll•s •nd r•vibwuvJ a¢￿￿)11r￿a •$llmath for bl8S. B•ws• of th• Inh•r•nt thittayons olan audl. Ilw• is a risk th•1 w• wm not d•t•d al Yr•gul•rttt•s. knthdlr¥J Iho8• l•ad¥J to a malerfal mlulatemert kn th• ffirranclgl st•t￿￿rts or nM-wTrp￿lnC wrfh regulation. Th1• k Incr•a8•s th• nKrt thal COM￿h•￿ with • ITh or r•wlalion li rnm0¥￿ frcrfn the •¥enl8 and transacllo rnffl•ct•d Inth• fin￿￿141 slat•m•nls. a• w•w• b• lets I￿•￿10 b•c¢)m Thar• of i11￿C•S ofnon•compll•nc•. Th• rt#k l¥ d$0 gr•al•r r•gardlr¥J wrewlwltiK orxurryffj du• to fraud rntlw th•n •Nor. •• fraud kn¥01￿8

The Lowestoft Church and Town Almshouse Charlty Independent audltorfs roport to the tru8ts08 of The LoW￿t0ft Church and Town Almshouse Charlty feonllRu•dJ Year ended 5 Aprll 2024 A further desGrfplion of our responslblNties Is avallable on the FRC'S webslte al ¥￿￿.fr¢org.uklaud1loI$r8sP0n6fj1￿1lI1a$. Thls descrfpuon lornis part of our audllorfs rewL U•9 of rnport Thi5 report 15 made solety ¢0 th? charlvs Iwslees. as a body. In acc¢rdance wllh Part 4 of t￿ Charltles (A¢¢ounls and Reports) Regulaiions 2008 and section 137 of the Housing and RegenerntK*n Act 2008. Our audrt woth has been undertaken 80 that we mighl stale lo the charitys Iruslees those matterswe are required to slate lo them in an audilofs rèporf and for no other purposo. To fillèsl 4xl8nl pemmttad by law. wo do l acupl w •s$(tme re$pon$lblSty to 8nyon• other Ihon Ihe ¢h8rity and trustees •8 a body, fol our audil work, lor this reporl, or lor the opinions we have fomed. Proclor FCA DChA (Sentor Stslulory Aud#or) For on behawol Lovwwell Blake LLP Charlered a￿￿ffi￿nts 8 Slèlulory •udltor Banksidg 300 Peachman Way 8roa¢Mand Business Park NR7 OL8 2610912024 Lovewell Blake LLP 1$ el91b￿ lorappointmentof the ¢h•rlty by vlrfue 01118 eligbtllty forappoinlment85 audit( of a company uThJer 8eotkni 1212 d Ihe cl￿panI&S Act 2006.

The Lowestoft Church and Town Almshouse Charlty Stat•m•nt of Ilnanclal acllvltle8 Year ended 5 Aprll 2024 2024 Ro$lriclgd fvndi Totsl lund• Total furrfls 2023 Lhv•stri¢lfjd funds Incom• and •ndowrn•rbts Charflable 8cWlhs Inv•61menl Income 426,434 320 425,434 320 353,176 323 Total Incom• 425,754 425.754 363.499 Exp•ndlthrn Exp•ndMuM on chwlt•blo adlW•8 Total •xp•ndllw• (344,378) (344,378) (344,3781 {344,378} (227.741) (227.741) N•1 In¢om• and n•t movthn•nts In lund• b•lor• g•ln• and lo••M on Inv••tsn•nts 81.378 81.376 125.758 N•1 94n8 ¢n Inv•slm•nts N•t In¢om• b•lor• oth•r g•ln• and lo•••• 5,898 87,274 6,898 87.274 1,148 126.908 Olh•r f•¢ognls•d galn• •nd Io•M• Galm from r•valuatlon of Ilxed au• 573220 M•t mov•m•nt In 87.274 87,274 700.128 RKonclllallon of lun Total fund8 brought lornard Yotal fund• ¢•th•d I0￿￿nI 8.203.499 480.000 8,683.499 7.983,373 8,683,499 8.290.773 480.000 .770,773 Th• •18l¢m•nl of f#)fjndal PAI￿￿¢$ IndUd￿ al g•ln$ •nd1088•• r•collnlg•d kn the year. All Inc•m• and •xp•ndttur• d•riv• from continuing acthwlitt. Th• noteB on p*g•8 13 to 21 fomi wt of thMg flnJncl41 stst•m•nts. 11

The Lowestoft Church and Town Almshouse Charity Balance sheet 5 April 2024 2024 2023 Note Flxed assets Tangible fixed assets Investments 12 13 8.759.690 197.447 8.501.000 114.623 8.957.137 8.615.623 Current a$$ets Debtors Cash al bank and in hand 14 4.152 152.265 5.327 480.096 156.417 485,423 Creditors: Amounts falling due within one year 15 163.8611 161.155) Net Current assets 92.556 424.268 Totsl assets less current liabilities 9.409.693 9.039.891 Creditors: Amounts falllng due after more than one year Net assets 16 1278.9201 1356.3921 8,770.773 8.683.499 Funds of the Charity Restricted funds UnrestrTcled funds.. Revalualion ¥eserve Olhei unrestricted income funds 480.000 480,000 4.441.765 3.849.008 4.441,765 3.761.734 Total unrestricted funds 8.290,773 8,203,499 Totsl ¢harlty funds 18 8.770.773 8.683.499 These financial st&emenls"_weTe approved by Ihe board of truslees and aulhorised for issue on /1..10... . .Afayd ate signed on behall of Ihe boaid by.. Mr R Slebbings . Nominative Trustee - ffic*) (Chairm Mts G Battrith- Nominative Trustee The note5 on page5 13 lo 21 form part of these financial 5talements. 12-

The Lowestoft Church and Town Almshouse Charlty Notes to th8 flnanclal statements Year ended 6 April 2024 Genernl Inftsrnmtlon The charity 18 8 publlc benefil enllty and 4 rgi$t•red chartty In England and Wales and Is irw¢yalod. The address Of1￿ prfnclpal olft¢• is 148 London Road Norlh. Ltyvestoft. Suffolk, NR32 1HF. Slat•mont of ¢ompllan¢• The charity cons￿lUt95 a pubtl¢ benefit endty as d•fined by FRS 102. The financlal $lètements have prnpafed In accordance ￿th Ae¢ounting end Repofllng by Charilles.. Slatèmenl ol Recomm¢nd•d Pracllce appll¢•ble ¢0 eharilles preparing thelr accounts in accordance wrth Ihe Flnan¢ial Repofilng Standard applic•ble in the UK and Republ1¢ of Irgland issued in Odober 2019. the Flnancial Reporting Standard applicable in the Unbted lQngdom and Rgpublic of ltèland IFRS 1021, the Ch¥riiies Act 2011, The Aeeounling Dlrectlon ol Prfv81o Reglstered Provlders of Soclal Housbng (2022) and UK Generalty A￿pIed Ac¢ounllng PraGttce. The fflnanclal 8tatemenls have been prepared lo gfve a Irue and fair Ifj•w 4nd have departed from th8 CharflS8s (Accounts and Reporlsl R•gu181ion$ 2008 only to lh• extonl required lo provlde a Irue and tsir vvl. This departure has Involved followlng the Accounllng and Reporting by Ch8rllles: Slatemont of Re¢ommendfjd Praclic4 appli¢able lo ¢harilles preparlng Ihair accounts in accofdance wlth the F￿ana41 Reporting S￿ndard9p￿1￿ble In the UK and Ropubli¢oflreland issued In October2019 rh¢r than the Attounllng ar#1 Rep￿ting by Charilles.. Stslement of Recommended Pracllce effedive from 1 Awl 2005 whlth has since be¢n withdrawn. Accountlng polld•8 {) Bail• of preparauon The fwnoaal Slatsments h8¥0 been prwrgd on a golng C￿CoM ￿511 undfri the hlstorlcal ¢051 cimvenlim. rn(xlifnd to Indude c•rtaln liems al lalr valu Th• ffinanci￿ stal¢m•nls are prepared In $lerlng. wN¢h1g Ihg fwKlional ¢uffency ollhe ertlty. Ibl Golng conc•m The charfV$ ablmty lo conlinuo lo otwate as a going reli&s on the fftntal Income from residents of their alm8houses. There 1$ no reason for the Tru¥t•gs lo con$id•r that the number olresldenl$ WOLdd IAI to an extent th81 the golng conc4m slalus of Ihe dbarfty would bè brought Inlo quesllon. nor ar¢ thero any oth•r maknial uncert4lntS&s aboulthe charlty's ablllty lo ￿ntinu0 as a going concem. The Charity has Ihe support oflhe Lu4Y•Stoft Charity Board. a thadty Ihal 8h8res the $8me Irust•es and has the same aim$ and obiedSves. Lowestoft Charty Board hold a signfflcant investment porttollo whlch could bè easify liquidated were cash ftow to becom& a ￿gnificant issue for eithér ctha￿ty. The Trust￿9 have a reasonabl expttta¢lon thal ihe Charity has adequate resource5 to ctsntlnue In operallonal exi$lenc ltsr the foreseeable fithNe. thus they conilnu? to adopt Ihe going concam basls In wwarlrvJ the fin￿Cial statements. 13.

The Lowestoft Church and Town Almshouse Charity Notes to the flnan¢lal statements Year ended 5 Aprll 2024 l Ac¢ounlng polkl•• f¢wix 1¢) Judg•m•nts k•y ourt•B ol •#llmth unc•rtdnty •3$umpli(￿S that affed the nounl¥ rnP￿ttd. These •slim•tes arwj jLwJg•m•nts Ar¢ conlinLsally ewed and arè bas￿ and th factors, kn¢￿dIrffj exp&￿On$ ol firture ev•ts Ihat •re beMe¥d to ￿ iea)nable under the (knmstan¢•8. Acco￿tIng estlmatés ar• m•d• fulw• and. by th•ir nalw•, wdl r¥rnly •qu81 lh¢ ¥elgt•d 1knand￿ sthl•mwrti kKJud• JudgBm•ils (Jpart fr(¥n Iho Invdykng •$tlrnfjUons) Ihal m•n•9•m￿l hav• m•d6 In thè rrfoctss ol aprkig the énthy's cthx)tlng polia•s. judg8m￿tI •nd •stM)Mlion urvrtalnty thal may h8¥e A spwlfiranl r18k of c8u&lng a maleflal adju8knenl kn the amourts of a￿t% afxI11gbWlb•s the next In•ndal yegr ar• a8 •8 fomows: Property vlu•lltsn. Freèhdd propttty Ls rècord•d at valuth •tNI f•¥aluod w 3 y•ws. Such valu• requlres the •ppll¢aIl￿ of judgement r•9rAd lo tho nalurn of •uth wopgrty taking irto •ccourt tof$ 9pecific lo Ihelr specL•lised ￿ture. An Ind•p•nd•rrt vahjer Ss ullli•d lo Fwovld• an •sllmal• the IAlr value for flnarthl llthwl PU￿•￿. IX• 12 mw• Inknnlon concwrdng th• valuth￿ of luth propwtb••, Id> FWKI •¢¢ourtlng Unr•l￿ct•d w• v•l•bl• lor •1 th• of th• In￿1￿• to my of rpo#•i. Extraordnary Rtipak oxthts of morl•s hm b•M ￿1 ••kl• by th• to m••t th• tyl of •xlr•ordln•ry r•p•trs. purpos8 and il i• lh• policy of InMt•èi monltor thè appkthi of th0￿ In Al Irthme Is Included h I￿ st•lemenl alln•rKwl •dfiiitb•s whon éniftknmtnt h8¥ paimd to the charfty. M h PTob&A• thjl lh• •c¢nomk b•n•ffts ￿￿￿81•d ￿th th• Ir•nsth wll llv to th• <•rHy and th•

mount cAn mea8￿. Th& ¥p•clk pA• aPpl￿d lo PrtI￿1# cAlwrte8 of

. bank In1w￿l on m •C4¥u81s tmslk . r•ntal income, nel olrnrt •rKI seplce ¢Pwg• loss•s from wxds. •Mh•r w)come i• r¢cognl8ed wlhln the $lal¢mert actlvths on o rece￿•ble bas In Exp•nd# eyndtw• & rqcowlB•d on an b•th •$ a l•blMy Is IwTh•d. ExpwdMw• I￿ud•S •ny VAT whith e4nnol be rec¢Awed. •Thl kn clg88lW uThl•r tr••thngs oftho ￿tIm•nI offmnthl acllvNIè8 wh5ch h relales: -14-

The Lowestoft Church and Town Almshouse Charity Notes to tho financlal statsments ieonthu•¢ Year ended 5 Aprtl 2024 Ac¢ountlng pollcl•B (Mnthutdl Exp•ndlluve (eoTr#n - Chaiitabk acdvllles cowlse Ihoso co818 Incurred by the ¢harhy in the dthery of its acti¥itses and servke$ lor its benthart•s. ll Indud8s bolh that can be allocated dire¢Uy lo Suth 8dlyili•s and those Ct)sts of an Indlrect nature necossary lo support them. - Governw￿ costs irKlulde Ihose r￿sts assoeitited with meellng thè constttullonal and stslutory requirements olthe dlarity and IndLKle the aud61 fee6 and costs linked lo the slrat•gic managem￿1 of - Tho cosl of repairs and maintenance are recognised when a blndtng obllgauon to Sncur expendlture Is entèred Into. Improvements lo properties whh add value to the properties or substsntialty lengthen Ihe wopertles usefil16fe are capllallsed as fj¥ed assels. Repair ilgms whith involv8 Iho r•placfjmont or fmewal of Items wllhln the fab￿¢ of •xl$llng bulldlng bul whl¢h do nol add value lo the property w• wrM¢en off a8 In￿Trad. 19) Tinilbk a&Mts 1) Fr￿hold propwty l¥ rev8lued every three year8 and the aggre9a¢e 8urplu3 Iran8foffed to rovaluallon reseNe. Thg amount by whlch the valuaUon of indlvldu41 woportle815 loss than thelr cost and ￿nSIdered to be pennanent is tharoed lo t￿ income and èxpendilure xcount. No d•w•craUon or amL¥lls•tlon Is provlded In respe¢l olfre•hold pro￿rtY. 18 lh• polky of the Trustees lo malntaln all Ihe propgrtifjs lo Ihe hlghest sl)dard through regular malnlenance 8TrJ repair. This resums In both # very long 8￿nomIC Itfe an(J •sllmaled residual value SUGh that any depreciion and aG¢um￿al￿d depred￿On would b& Inmaterial. Ihl Inv••lm•nts UnlS$led equfjty knveslments aTe Inlllalty recordad al cost, and subsequenty measured al falr valua. 11 l•ir value cannot ￿ Teliabty mgasured. a$6els are measured al co$l1055 impaI￿enL U£l•d Inveslments mwured at f811 Valuè with changos in t￿1 vdue bolng rectsJni8ed In In¢cne c expendlture. Flnandal Inlrum•nts A ffinanclal astsl or a financlal lablllty Is rocognised only vthen the an￿ty a p8rty lo the cDntroctuo1 PTovlslon3 of the In8trumenL Baslc finondol Instr￿￿entS Arè Inslially ro¢09nised al Ihè amount r•Gelvabh Qf paable including any related transaction coyts. unless the a￿angemen1 ￿n¥t11ul¢s 4 Ilnanciig lrnnsactlon, whèrè it re¢ognlsed at the pr•s•nl value of the luture paym•n¢s distt)unl8d al 8 mark41 Al• of inlgrg$1 fr)T a slmllar debt instrumenL CuThenl assels cuffenl liabllftle8 are $Ltbsequ8nlty measured at the cash ry olh•r ¢on$tderabc expected to be pald or r•c•ivod and nol dlscounted. Ul D•finod ¢onlrfbutlon planB Contrlbutlons to defined conffibulbn plans ai recognlsed as ￿ expense in thè perlttd In wtrd¢h the 1418d Is provided.

The Lowestoft Church and Town Almshouse Charity Note8 to th• financlal $tat•m•nts Year ¢ndod 5 Aprll 2024 Clw#abl• •¢tl¥lll•¥ urv•4tr1￿ Tol•l Lw•slthtod T(4al Funds Fw 2024 Funds 2023 Rent recei4•d ContslbuUon• losl fr(¥n vL4ds 41kry,281 .261 335.905 1511) 17.782 19.173 19.1n 17.782 425,434 425.434 353.176 353.178 & kn¥••tsn•nt Ihcam• Till Lhmlrfct•d T(knl 2024 Fund• FwMI¥ 2023 323 Totsl Furmlj UNaitrfct•d Tclal Fundi 2024 Fwd¥ 2023 Funds 33,074 5.451 10,013 3,129 127.772 33.074 5.451 10.013 3.129 127.772 33.134 5,307 7,4n 304 73.657 7.138 4.8n 37.891 4.173 48,733 33,134 5,307 7.472 P•nslon corAth Councl l•x Wlndvw ¢l•¥dng 73.657 7,138 4,872 37.891 4,173 48.733 WJl•r r#l•s kn•u1￿c LSghl & h Telephone supp￿ o) 6.331 6,331 76.254 4.543 69.306 344,378 344.378 227,741 227,741 Support ¢0 cliwts Tol•l 2024 Totsl 2023 7.528 9221 23227 29,330 89. Gener41 oXPO111•$ 9221 23227 10.924 10.948 19.481 AA¢Me¢l$ le¢$ 69,308 48,733 -10-

The Lowestoft Church and Town Almshouse Charlty Notss to the financlal slatements Year ended 6 Aprll 2024 Houslng accommodallon unlts Tho numbe¢ of Y￿(6 of a¢¢￿ModItIOn for t￿ yaAr In Telalkni to Alm¥houM$ w4$ 8712023.. 88). Audltorn v•mun•rntlon 2024 2023 p#y4bl• for the audm of the ￿an￿oIs141•M￿l$ 8,280 5,350 10. 8t•ff ¢o•l• Th• tol•l ilff colts And •mploye• b•n•fd8 for lh• p•rfod • •Mtyi•d •• follm.. 2024 2023 Wag•$ •nd $810rf91 ETnpfoy•r contribullom to penslon plan8 33.074 6.451 33,134 5.307 38,525 38.441 Th• av•T•g• h••d co￿1 ol •mth••• durfng th• yoarw•s 2 (2023.. 21. No •mplw• fe¢•l¥•d •M￿0y•• b•n•fts of mor• th•n £80.(#)O dudn9 th• y•8r12023.' NWI. 11. TnMt•• rnmun•rnll•D Ind •xp•n• No r•munerallon or other b•n•fts fram •mploymanlvlth th• thwlty <* • r•l•t•d •nUty W•f• f•c•lv•d by the tN81¢88. 12. T•nglA• flx•d 4•Mts Lon9'• Dalry AlM•h0￿•• T•t•l eo•t or v•lu•lltsn Al e Aprll 2023 Addlllons 4.991,(MlO 3,510,( 8.$01.000 258.090 At $ Aprtl 2024 D•pr•clatlon At 6 Aprfl 2023 and fj Aprfl 2D24 Caffylng am0￿¢ At 6 Aprfl 2024 Al 5 April 2023 5,246,690 3.510.(KID 8.759.890 5.249.6 3,510,000 3.510.000 8,759,690 8.501,000 4,991,000 -17-

The Lowestoft Church and Town Almshouse Charity Note3 to the flnanclal ¥tatemonts ftoftUnu•d) Year ended S Aprll 2024 12. Tanglbl• Ilx•d (roftlthued) Both th• Alm￿Ulei #nd Loni'l Dabry Slte f•pr•s•nl lh• charfty'i Interest In fr••hold property. Th• Almhous•s and L<Yy's Dairy Sit• w•r• prof•$iiMaly r•¥￿U•d •1 £8,$01,000 ty E*st Cornmwa•l Chartwed Supmyorn •8 al 6 Aprm 2023 on the ￿85$ ofopen math•l value. On a I￿10￿¢•1 C￿1 basli. the histori￿1 ¢osl of418ueli * £4.338.764. Th•r• 16 a Itgal charg• o¥•r 80me of the charlivs fr••hold propèrty In relallon to thè loan from th• nn•ct•d eh•rfty, 13. Inv••tm•nl• InvMtm•nts Cmt orv•lu•tlon Al 6 Aprfl 2023 Addttlons Oth•r mov•m•nl• 114.623 78,928 5.898 At 5 Aprfl 2024 Imp•lrnwnt At 6 Aprfl 2023 •nd S Aprll 2024 C4rylng amount At S Aprfl 2024 Al S Awll 2023 197,447 197.447 114,623 All InV￿lm•nts Ihwn •bo¥• •r• h•ld 41 ¥•trAUon. Hlslwlc of Inv￿lMInIS1• £177.354. 14. D•btor4 2024 2023 Pr9Pwffl￿1I •nd •oGnMd incom• (X￿r d•blor• 1.084 4,243 5.327 4.152 10. Cr•dltorn: Amounts f•lllng du• wlthln on• y••r 2024 2023 Trade uedllofs Accru￿$ and d8f•Th•d iwoma AmfAmls ts￿d lo eonnècled ¢h8dty 2,848 41.015 20.000 38.309 20.1)00 83,861 81.155 18-

The Low•stoft Church and Town Almshouse Charity N¢)168 to the flnanGlal stat•m•nts (¢oJ Year ended 6 Awll 2024 16. Crndltorn: Am9￿1 du• t•Athkn on• y••r 2024 29.245 (29.245) 31.952 31.952 Rel8•￿ dwiNJ lh• y• 0•fa￿ed d￿n4 thè y••f 29.245 29,245 D•f•rrnd Incom• coffl￿￿ rnnts r•c4wd kn ¢fvneè of 2024. 11. Crndkn: Amount• l•llw du• mor• •n• 2924 2023 278.920 388.392 Th• Wl •Ywnl of du• •ft•f 5 y•ws lo £298.(W)O. Th• •ppl¢l• VA Inml p•y4bl• l(Yth• y••r £7.528 Q023: E7.380). 17. P•Ml•n• Ind olh•r po•t v•Ornffwnt b•n•fft4 D•th•d ¢ontrltrArtlon pl•n• £5,451 Q023: £S.307k

The Lowestoft Church and Town Almshouse Charity Not•$ io Ihe financlal statements Year •nded 5 Aprll 2024 11. Anaty•lg of ¢harllabl• fund• Unr•8trf¢t•d funds Al 6 April 2023 Galns and At 6 Aprfl 2024 Income Expèndllure Trnnsf•rs Gèneral l￿dS Deslgnaleil Fund Revaluallon reseThe 3.861,306 100,428 4.441.785 426.754 1344.378) (91.1211 91.121 3.651,561 197,447 4.441.765 8.290,773 6.898 8,203,499 425.754 1344.3781 5.898 Al 6 Awil 2022 Galns and los¥•$ At 5 Awil 2023 Incornfj Exp•nditw• Genernl lunds Desl9naled Fund Reyaluallon re5eive 3,534.400 100,428 3.868.545 353.499 1227,7411 1,148 3,661,30e 100.428 4.441.765 573.220 7.503,373 353.499 1227.741) 574,368 8,203.499 R•strl¢t•d furtdl Al 6 April 2023 Galns and At Ios8e8 5 Aprfl 2024 omè Expenditsxe Restri(ed fi￿d$ 48Q.000 480.000 Al 8 Awll 2022 Galns and los￿$ 5 Aprfl 2023 Incom• Expendbtwe Rosirfcted fthd8 480,1)00 480,Crf)O Thè degn3ted lund represents Ihe fflovements lor th& year on the Exlrawdlnory Repalr Th• purpose ofthe ftmd 1$ to allow IOT the rogular malntenance ofthe Charws bulldlThJ& The reslrfcled fund relales lo a grant from Homes England for Ihe dgYglopm•nl of Ihe Lt)ng's Dairy Slle and Is ropresfjnt8d by freèhold property. The bO￿nCe has remained on réstricled funds due to ongolng reslrldlons on Ihe u¥e lo whlth th¢ pmpety funded by the grnnt bg pul.

The Lowestoft Church and Town Almshouse Charity Notes to tho financlal ststgments fconllffu•d) Year •nded 5 Aprll 2024 19. Anal￿1 of n•t8s•ts betw••n thnd• Unr•slrt(*ed D•slgna¢ed Funds Fund8 R•stricled Totsl Funds Funds 2024 Tanglble fixed a￿ts Inveslments Cuwenl a$sel$ CTedllors grgal•r than 1 year 8279.890 480,000 8,759,890 197,447 92.556 1278.920) 480,0th) 8,770,773 197.447 (278.9201 8.093.326 197.447 Unre8trfcled De8ign8ted Funds Fund5 Resty1Ct￿ Total Funds Funds 2023 TaThjIb￿ flxed avdets Inve$lm•nl5 CuThanl Ass•ts Credmors water t￿) 1 y•ar 8,IY21,000 14,195 480,000 8,501,000 114,623 424.268 (356.392) 8,683,499 100,428 <356.392) 8.103.071 11x1.428 480,000 20. R•lat•d p•rtl•• In 2013. The Lowesloft Church afKI Tolm Estale Charfty (LO￿l0ft Charlly Bowd). a charity shares Ihe ￿me truslees as thi$ charity. Providgd a loan 01 £315.000 lo th charity lo fund th• acqulsltlon olthe Long's Dalry site. An infomi81 l￿ft was afso issued when The Lowéstoft Churth and Town Eslale Charity opened a naw separa1• bank account andlgft some of Ils funds In the ¢hariV8 bank attounl. Al thg balanca sheèt dalè £298.92012023'. £376.392) was due lo The Lowesloft Church and Town É8late Charity. The balanc& Is secured by a legal charge oversome of the chArity'$ fr89hold proporty. Th• enllre amount is ropayablg by Instalments over 25 y•ars wth inl•r951 currgnlly at 2%. During the year, the Chaiity paid £13.64712023: £3.005) lo Norion Peskfjtt solldtors for Iho 8eNces of the Clerk othèr professi¢)nal seNlc•& The Clerk Is a partnèr In thai firm.