REGISTERED CHARITY NUMBER: 212061 REGULATOR OF SOCIAL HOUSING NUMBER: A1464 Report of the Tru8to08 and Unaudlted Flnanclal Statements for the Year Ended 31 Decembor 2024 for HAMPTON PAROCHIAL CHARITY KNOX CROPPER charlerÈd aiLouil3ntS HAMPTON PAROCHIAL CHARrrY Contents of tho Finan¢ial Ststements for the Year Ended 31 ￿COMb0r 2024 Pago Reference and Admlnlstratlve Oetalls Report of the Trustee8 2 to 7 Independent Examlnerf8 Report Statement of Flnanclal Actlvltles Balance Sheet 10 Notes to the Flnanclal Statoments 11 to 21 Detalled Statement of Flnanclal Actlvllles 22 HAMPTON PAROCHIAL CHARITY Reference and Administrative Detsils for the Year Ended 31 December 2024 TRUSTEES Rev D Wlnterburn (Chairman) Cfropted (St James) Miss B Healey (Vice Chair) Co-opted Cllr S Nicholson Nominative (LBRUT) Mr J Soones JP Nominative (LBRUT) Miss A Walker Nomlnative (All Saints) Rev S Leamy Nominative (LBRUT) Rev B Lovell Co-opted (St Mary's) DrDWle Co-opted Mrs P Williams Co-opted Mrs R Mccann Nominative (St M8ry's> Mrs S Sevanathan Nominative (St James) Rev D Williams Co-opted (All Saints) CLERK AND HOUSING MANAGER Ms N Hall PRINCIPAL ADDRESS 1A Jubilee House Ashley Road Hampton Middlesex TW12 2HX REGISTERED CHARITY NUMBER 212061 REGULATOR OF SOCIAL HOUSING NUMBER A1464 INDEPENDENT EXAMINER Knox Cropper LLP Chartered Accountants and Statutory Auditors 65 Leadenhall Street London EC3A 2AD BANKERS Barclays Bank plc 10 Clarence Street Kingston upon Thames Surrey i(r11 NY Page 1 HAMPTON PAROCHIAL CHARITY Report of the Trustees for the Year Ended 31 December 2024 The trustees present their report wtth the financial statements of Ihe charity for the year ended 31 December 2024. The trustees have adopted the provisions of Accounting and Reporting by Charilies.. Statement of Recommended Practi￿ applicable to charities preparing their accounls in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019). OBJECTIVES AND ACTIVITIES Oblectlves and alms The main objective of the Parochial Charily Is to provide almshouses accommodation for poor peisons of good character who (except in special cases to be approved by the Charity Commissioners) are resident in the area of benefit of the fomier Civil Parish and Urban District of Hampton as constituted on the 27th January 1933. Under the scheme of 3 November 1977 (as varied subsequently) the Trustees are empowered to apply income in the maintenance and running of the almshouse property and in the administration of the Charity and to estsblish and maintain a reserve fund for maintenance, Under the scheme of 24 January 2022 the area of benefit of the charlty was widened to include the Wards of Hampton, Hampton North, Fulwell and Hampton Hill, and Teddington in accordance with the ward boundaries as amended from time to time with preference given to the Wards of Hampton, Hampton North and Fulwell and Hampton Hill. Almspeople as beneficiaries include those of good Character who are currently resident or employed or have family residing in the area of benefit, or other4vise have previously resided or been employed in, or have a strong connection to the area of benefit. The Trustses are required lo: Maintain an Extraordinary Repair Fund. Defray the cost of keeping in repair the memorial to Williarn Cole in the parish church of St. Mary the Virgin; (iii) Pay the following yearly sums to the respectlve Church Wardens for Maintalnlng, repairing and insurlng the parish churches of.. St Mary the Vlrgin, Hampton st James, Hampton Hill All Saints. Hampton 500 250 250 (iv) Defray grants to one or both of the following: Rellef in need up to £3,500 per annum The Hampton War Memorial Charity - up to £250 per annum Subject to the ft)regoing payments, the income is to be applied for the benefit of the alms people. For the purposes of almshouse accommodatlon. the Charity is also a registered provider of Social Housing (Number A1464). Publlc b8nellt We have referred to the Charity Commisslon's general guidance on public benefit when reviewing our aims and objectives and activilies. The public benefrt ot the Charity is In providing safe and comfortable almshouse accommodation for those in need as described in the scheme and living granls to Ihose in need. Whilst rnany of the activities are local in nature, the Trustees do not consider this to be an unreasonable geographic restriction and those in need are not excluded from benefit. Page 2 HAMPTON PAROCHIAL CHARITY Report of the Trustees for the Year Ended 31 December 2024 ACHIEVEMENT AND PERFORMANCE Charltable actlv5tles Twelve flats were occupied for the whole of the year. with no void periods. The trustees explored ways of identifying people in need so that grants could be made in line with the charity's objectives. Financial assistance was given lo 8 (2023: 5) deseNing applicants in the year lotalling £3,591 (2023: £2,668). FINANCIAL REVIEW Flnanclal review As disclosed in the Statement of Flnancial ActNities on page 8 the surplus on total activities for the ye?r before gains and losses on investment was £42,143 (2023. £26,114). Investment income and deposit interest was £37.917 (2023: £36,598). The "housing surplus" or surplus of rents against almshouse operatlng costs and assoclated Interest payable, amounted to £9,167 (2023: deficil of £6,816). The charity is dependent on the Income generated from its investments to underpin its charitable objectives, The Endowed Capltsl Fund as at 31 December 2024 was £1,096,065 (2023,, £1,075,992) The Extraordinary Repair Fund as at 31 December 2024 was £377,723 (2023., £359,439). The Income Fund as at 31 December 2024 was £95,589 (2023: £57.807). Invo8trnont pollcy Funds are invested in such a manner as the Trustees think fit in order to provid8 an appropriate and balanced portfolio taking into account the requirements of the law relating to the Investment of chaiitable monies, and the investment policy of the Charity. Reserves pollcy The Trustees, reseNes policy tskes into account the fact that some funds are endowed or designated for Specific purposes. In the case of unrestricted funds. the Trustees seek to maintain general reserves whlch wlll support the ongoing alms of the Charity and allow It to operate on a going concem basls. Golng concern The Board has reasonable expectation that the charlty has adequate resources to continue operations for the foreseeable future. For this reason, the going concern basis has continued to be used in preparing the financial statements. The Board has considered the short and long term health of the charity and is content that a robust budget provides assurance that the going concern basls Is appropriate in preparing the financial statements. FUTURE PLANS The Trustees intend to continue their current activities in maintaining the almshouse accommodation through the Parochial Charity. The ongoing refurbishment of premises continues, in accordance wlth the aim of improving the service to tenants and future plans will involve an ongoing review and implementation of any works considered necessary. STRUCTURE, GOVERNANCE AND MANAGEMENT Governlng document The Charity is governed by a scheme dated 3rd November 1977, as amended by a scheme dated 24th January 2022. The Charfty's Registered Number is 212061 and it is also registered by the Regulator of Social Housing (Number A1464). Page 3 HAMPTON PAROCHIAL CHARIT Report of the Trusteas for the Year Ended 31 De¢omber 2024 STRUCTURE, GOVERNANCE AND MANAGEMENT Charlty constitutlon The Charity is administered by a maximum of twelve Trustees, comprising: (a) SIX Nomlnauve Trustees appointed for a term of four years as follows: Three by the Council of the London Borough of Richmond Upon Thames, who shall be persons who through residence, occupation or employmen( or othenNise, have special knowledge of the area of benefit. One by the PCC of St. Mary the Virgin, Hampton. One by the PCC of St. James. Hampton Hill. One by the PCC of All Saints, Hampton. Ib) Six Co-opted Trustees, appointed for a term of five years. Investment powers are determined by the Trustees Act 2020. This is a principal Charity and embraces the Charities of the Parochial Quitrents, Mary Gavell, John Turner, Cyrus Maigre, William Cole,Eva Maria Garrick and John Jones. Code of Governance The code of governance adopted by the Trustees is the Charity Governance Code for Smaller CharitSes, as this best fits with the aims and objectives of Hampton Parochial Charity as an Almshouse Charity and represents a standard of good governance practs'ce to which all charities should aspire. The Board of Trustees confirms compliance with the Governance and Financial Viability Standard. In doing so. the Board confirms that it has an appropriate, robust and prudent business planning, risk and control framework in place. Organl8atlonal Structure The management of the Charity is carried out by the Clerk, Ms Nicola Hall, who is also the Houslng Manager. The greater part of the administration is concerned with the almshouse accommodation at Jubllee House, built in 1985 to provide Iwelve almshouse flats. The Trustees meet at quarterly intervals and the Buildlng. Finance and Appointments Committees meet periodically during the year. The trustees undertake induction training as a trustee on appolniment and further trustee training as required. Intemal Control8 The Trustees acknowledge their responslbility for the Charity's system of inlernal controls, in¢luding Intemal financial controls. The system of controls covets govemance, strategy and finance, relating to the safeguarding of assets, the maintenance of proper accounting records and the reliability of financial information used both within the organisation and for publication. The systems established and malntained can provide reasonable but not absolute assurance against material misstatement or loss, The Trustees give consideration lo the major risks to which the charity is exposed and have revlewed the establlshed systems and procedures to manage these risks. It has been agreed thai the Trustees will annually review these risks. Key management remuneration The trustees receive rbo remuneration for their services other than the reimbursement of out-of-pocket expenses. Page 4 HAMPTON PAROCHIAL CHARITY Report of the Tru8tee8 for the Year Ended 31 December 2024 STRUCTURE, GOVERNANCE AND MANAGEMENT Rlsk management The Trustees give consideratM)n to the major risks to which the charity is exposed and have reviewed the established systems and procedures to manage these risks. It has been agreed that the Trustees will gnnually review these risks. The Board's focus in the year on the below principal risks: Risk of losin Trustees leadin to ineffeclive mana ement of the Chari The charity currently has 12 Trustees and has undertaken a skills audil to ensure a diverse range of skills is available for the effective funnlng of the charity. The risk of loss of Trustees is mib'gated through succession planning involving the wider community and advice from the Almshouse Association, Maintainin Pro erties to Decent Homes Standards In the face of Risin Cosls Reports are made to the Board at each meeting to ensure all properties and inspections are up to date. A rolling programme of works is in place for component replacements to aid the spread of costs. The Charity currently has sufflcient Extraordinary Repairs reserves to undertake necessary works as they arise. Lack of Maintenance Cha e Increases and otential for lon Void Periods Income and expenditure are reviewed quarterly and closety monitored by Trustees. Mainlenance charge contribution increases are agreed in line with Inflation. The charity has widened Ihe catchment area for almspeople to mitigate the risk of long void periods. Vmth the refurbishment works undertaken to date, the Trustees are confident of limiting the void periods to a minimum. Rlsk of loss throu h ineffective financial controls and rlsin OVernan￿ costs Hampton P8rochlal Charity has documented financial procedures which are adhered to and monitored by Trustees. Trustees also c105ely monitor budgets and sign off rnonth end flnancial reports. Governance costs are frequently reviewed and cost-effective services sought via approved suppliers. Page 5 HAMPTON PAROCHIAL CHARITY Report of the Trustees for the Year Ended 31 December 2024 VALUE FOR MONEY (VFM) Each year the Charity uses a range of data to measure VFM progress against the housing sector. The results help influence investment decisions and provide the regulators and other stakeholders with information on the progress of the Charity, whilst also ensuring compliance with the regulatory VFM standard. Hampton Parochial Charity's metrics have been compared to a small Almshouses benchmarking group which conslsts of small Almshouse Gharities with between 6 and 30 units in management which the Trustees feel is an appropriate measure of performance. Small Alm8hou885 Benchmarkln Metrlc 2024 2023 Commentary New supply delivered 0% ov Ovo The Charity has 12 Almshouses In management. Thls remains as per the previous year. with no new supply of social housing or new su l of non-social housln Gearing (58.91)% (30.37)% (21.57)% The Charity has minimal borrowings repayable one year and stren thened cash reseprfes. EBITDA MRI 192.25Qh {28.21)% (673.70)% The Increasing result over the prior year reflects the return to a surplus, whi15t loans and associated interest able has reduced. Soclal Housing Cost Per Unit £6,085 £6,949 £4,798 The charity has done well to monitor expenditure in the year. Whilst expenditure overall was consistent with the prior year, Hampton Parochlal Charity supports its charitable objectlves via its Investment returns. Operating Margin Overall 32.10% 20.93 QA 23.62% As a Charity, Hampton Parochial Charity receives signrficant income from investments, which produced £37,352 in 2024, Ihus impacting the operating margin, This income also underwrites part of the charit eratin costs. Soci81 Housing Lettlngs only 9.71% (7.73)% 9.67% ROCE 2.58° 1.68% 8.290/0 A steady percentage indicates there isn't significant volatility in ttte Charity's results. but 2024 saw a return to a surplus following extensive repair costs in 2023. Deficits on social housing activities are often cov8red by income from its charitable endowments. Relnvestment 0% 1,85% The almshouses are maintained to a decent standard, and no capital improvements were required in the year. The trustees are satisfied that the properties continue to b8 well Maintained, Page 6 HAMPTON PAROCHIAL CHARITY Report of the Trustees for the Year Ended 31 De¢ember 2024 STATEMENT OF TRUSTEES, RESPONSIBILITIES The trustees are responsible for preparing the Report of the Trustees and the financial statement5 in accordance with applicable law and United Kingdorn Accounting Slandards (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 Ihe 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 applicalion of resources, including the income and expenditure, of the charity for that period. In preparing those finanaal statements, the trustees are required to select suitable accounting policies and then apply them consistently., obsewe the methods and principles in the Charity SORP; make judgements and estimates that are reasonable and prudent; prepare the financial statements on the going concern basis unless it is inapproprlate to presume that the charity will continue in business. The trustees are responsible for keeping proper accounting records which disclose with reasonable accuiacy at any time the financlal 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) Regulatlons 2008, the Housing and Regeneration Act 2008, the Aexounllng Direction for Private Registered Providers of Social Housing 2022, and the provisions of the trust deed. They are also responsible for safeguarding the assets of the charity and hence for tsking reasonable Steps for the prevention and detection of fraud and other irregularitles. Approved by order of the boaril of trustees on l.ly..￿l.u4￿.. . and signed on its behalf by: Page 7 Independent Examlneffs Report to the Trustees of Hampton Paroehial Charlty Independent examIne￿$ report to the trustees of Hampton Parochlal Charity I report to the charity trustees on my examination of the accounts of Hampton Parochial Charity {the Trust) for the year ended 31 December 2024. This report is made to the Trustees. as a body, in accordance with the terrns of my engagement. Our work has been undertaken so that we mlght carry out an Independent Examination of the financial statements in accordance with the General Directions given by Ihe Charity Commissioners. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the Charity and the Charity's Trustees, as a body, for our work or for this report. Responslbllltl88 and basls of report As the charity trustees of the Trusl you are responsible for the preparation of the a￿ountS in accordan with the requirements of the Charities Act 2011 {'Ihe AGV). Having satisfied myself that the accounts of the Charity are not ￿qUired to be audited under Section 136(3) of the Housing and Regeneration Act 2008, an independent examination has been carrled oul. I report in respect of my examination of the Trust's accounts carrled out under section 145 of the Act and in carrylng out my examinatlon I have followed all applicable Directions given by the Charity Commlssion under section 14515>{b) of the Act. Independent examiner's statement I have completed my examinallon. I confirm that no materlal matters have come to my attention In Gonnectlon with the examination giving me cause to belleve that in any material respect.. 1. accounting records were not kept in respect of the Trust as requlred by section 130 of the Act; or section 135(2){a) of the Housing and Regeneration Act 2008; or 2. the accounts do not accord wilh those records; or 3. the accounts do not cornply with the applicable requirements concerning the form and content of accounts set out In the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination. I have no concerns and have come across no other matters in connection wlth the examlnatlon to whlch attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached. Jts.J.L James Holland-Leader FCA Knox Cropper LLP Chartered Accountants 65 Leadenhall Street London EC3A 2AD Date: ... Page 8 HAMPTON PAROCHIAL CHARI Statemenl of Flnanolal A¢llvltles for the Year Ended 31 December 2024 2024 Total funds 2023 Total funds Unrostricted funds Endowment fund Notes INCOME AND ENDOWMENTS FROM Charitable actlvltle8 Housing 93,380 93.380 88.197 Investment incorne 37,917 36,598 Total 131297 131,297 124,795 EXPENDITURE ON Charltable actlvttles Housing Charltsble Activitites 80,923 3,390 84,313 95,013 3,668 Total 98,681 Net gains on Investments 12 101,195 NET INCOME 66,066 20,073 76,139 127,309 RECONCILIATION OF FUNDS Total funds brought forward 417,246 1,075.992 1893,238 1,365,929 TOTAL FUNDS CARRIED FORWARD 473 312 1096,065 1569 377 1,493,238 CONTINUING OPERATIONS All income and expenditure has arisen from continuing activities. The notes fonn part of these finandal statements Page 9 HAMPTON PAROCHIAL CHARITY Balance Sheet 31 December 2024 2024 Total funds 2023 Total funds Unrestrided funds Endowmer)t fund Notes FIXED ASSETS Tangible assets Inveslments 11 12 16,870 121,789 974,276 138,659 1352 001 142,790 1.310,255 394,596 1,096.065 1,490,660 1,453,045 CURRENT ASSETS Debtors Cash at bank 13 1,351 145 419 1,351 145 419 1,280 107,682 146.770 146,TTO 108,942 CREDITORS Amounts falling due within one year 14 ¢4,902) 14,902) {4,862) NET CURRENT ASSETS 141868 141868 104,080 TOTAL ASSETS LESS CURRENT LIA81LITIES 536,483 1,098,065 1,632.528 1,557,125 CREDITORS Amounts falling due after more than one year 15 (63,151) (63,151) (63,88n NET ASSETS 473 312 1096 065 1 $69 377 1,493,238 FUNDS Unrestrlcted funds Endowment funds 17 473,312 1096,065 417,246 1075 992 TOTAL FUNDS 1569 377 1,493 238 The flnancial statements were approved by the Board of Trustees and authorised for issue on . and were signed on its behalf by: Trustee The notes fomi part of these financial stalemenls Page 10 HAMPTON PAROCHIAL CHARITY Note8 to tho Flnanclal Statements for tho Year Ended 31 December 2024 ACCOUNTING POLICIES Basls of preparlng the flnanclal statements Hampton Parochial Charity is a charity constituted under a trust d8ed and registered as a charily with th8 Charity Commission of England and Wales. The address of the registered office is given on Page The financial statements of the charity, which is a public benefit entity under FRS 102. have been prepared in accordance with the Charities SORP (FRS 102) 'Accountlng and Reporting by Charities: Statement of Recommended Praclice applicable to charities preparing their accounts in accordance with the Financial Reporting Stsndard applicable in the UK and Republic of Ireland (FRS 1021 (effective 1 January 2019),, Financial Reporting Stsndard 102 'The Financlal Reporting Standard applicable in the UK and Republic of Ireland, and the Charities Act 2011. The accounts comply with the Charities Act 2011, the Housing and Regeneration Act 2008 and Ihe Accounting Direction for Private Registered Providers of Social Housing in England 2022, The financial statements have been prepared under the historical cost convention, with the exception of investments which are included at market value, as modlfied by the revaluation of certain assets. The financial statsments are presented in sterling, whlch Is the functional currency of the Charlty and are rounded to the nearest pound. The accounts have been prepared to give a Irue and fair view, and have departed from the Charities {Accounls and Reports) Regulations 2008 only to the extent requlred to provide a 'lrue and fair view,. This departure involved following Accountlng and Reporting by Charities preparlng their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102) issued on 16th July 2014 raiher than the Accounting and R8POrting by Charities Statement of Recommended Practice effective from 1 st April 2005 which has since been wlthdrawn. The almshouse properties of the Parochial Charity were redeveloped in 1985 under a scheme approved by the Housing Corporation. A Social Housing Grant was made and a mortgage loan advanced by the Houslng Corporation. Golng concern The financial statements have been prepared on a going con￿rn basis 8S the Trustees believe that no material uncertainlies exist. The Trustees have considered the level of funds held and the expected level of income and expenditure for 12 months from authorising these financial statements. The budgeted income and expenditure is suff￿lent with the level of reserves for the Charity to be able to contlnue as a going concern. Critical accountlng Judgements and key Sources of eBtlmatlon uncertalnty The following are the critical judgements and key sources of estimation uncertainty that the Board has made in the process of applying the charity's accounting policies and ihat have the most significant effect on the amounls recognised in the financial statements.. Identification of housing property components The charity accounts for its expenditure on housing properties using component accounting. Under component accounting, the housing propety is divided into those major components which are conSide￿d to have substantially different useful economic lives. Judgement is used in allocating property costs bethleen components (land, structure, kitchens, bathrooms etc) and in determining the usefjjl economic lives of each component. Housing property depreciation is calculated on a component-by