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2024-12-31-accounts

Docusign Envelope ID: B71BACD7-A3F1-83F6-839A-B211B7001473

Charity Registration No. 212270

Home and Communities Agency Registration No. A1614

BRIGHTON & HOVE ALMSHOUSE CHARITY

ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

Docusign Envelope ID: B71BACD7-A3F1-83F6-839A-B211B7001473

BRIGHTON & HOVE ALMSHOUSE CHARITY

LEGAL AND ADMINISTRATIVE INFORMATION

Trustees Mrs K Hancox
Reverend D Millest
Dr F Levack
Councillor M Winder
Charity number (England and Wales) 212270
Principal address Lanes End House
15 Prince Albert Street
Brighton
East Sussex
BN1 1HY
Accountants Mr N Coker FCCA
c/o Price & Company
30-32 Gildredge Road
Eastbourne
East Sussex
BN21 4SH
Bankers Co-Operative Bank plc
Delf House
Southway
Skelmersdale
Lancashire
WN8 6WT
Solicitors Coole Bevis LLP
Lanes End House
15 Prince Albert Street
Brighton
East Sussex
BN1 1HY

Docusign Envelope ID: B71BACD7-A3F1-83F6-839A-B211B7001473

BRIGHTON & HOVE ALMSHOUSE CHARITY

CONTENTS

Page
Trustees' report 1 - 3
Accountants' report 4
Statement of financial activities 5
Statement of comprehensive income 6
Statement of changes in reserves 7
Balance sheet 8
Notes to the accounts 9 - 23

Docusign Envelope ID: B71BACD7-A3F1-83F6-839A-B211B7001473

BRIGHTON & HOVE ALMSHOUSE CHARITY

TRUSTEES' REPORT FOR THE YEAR ENDED 31 DECEMBER 2024

The trustees present their annual report and financial statements for the year ended 31 December 2024.

The accounts have been prepared in accordance with UK Generally Accepted Accounting Practice (UK GAAP) including Financial Reporting Standard 102 (FRS 102) and the Housing SORP 2018: Statement of Recommended Practice for Registered Social Housing Providers and comply with the Accounting Direction for private registered providers of social housing in England 2019.

Objectives and activities

The charity's principal objective is to provide accommodation within the almshouse for poor people of good character residing in the former County Borough of Brighton and Borough of Hove, now a Unitary Authority known as Brighton & Hove City Council.

The aim of the charity is to retain the properties contained within the constituent charities and hold these in a good state of repair for use as accommodation under the terms of the establishing Order.

The objectives for the coming year are to make maximum use of the properties for use by the present and prospective residents.

The trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the charity should undertake. When reviewing the charity's aims and objectives and planning its activities the trustees have had due regard to the Charity Commission's public benefit guidance, including its guidance on fee charging.

The charity holds the properties in Brighton and they have been occupied throughout the year by residents fulfilling the criteria of the principal objective of the charity.

Achievements and performance

Of the 12 almshouses 8 were fully occupied throughout the year. The remainder were vacant at certain points throughout the year. At the year end all almshouses were occupied.

Expenditure on the houses has been contained within budget in the year, and funds have been set aside for future maintenance. No repair and renovation expenditure has been charged to the Cyclical Repair Fund in the year.

Financial review

The financial results for the year ended 31 December 2024 are shown in the attached financial statements.

The statement of comprehensive income on page 5 shows that the net movement in funds in the year amounted to £22,205.

The trustees regard the financial position at 31 December 2024 as satisfactory and consider that sufficient reserves are held to ensure the continuance of the trusts.

Docusign Envelope ID: B71BACD7-A3F1-83F6-839A-B211B7001473

BRIGHTON & HOVE ALMSHOUSE CHARITY

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024

It is the policy of the charity that unrestricted funds which have not been designated for a specific use should be maintained at a level equivalent to between three and six month’s expenditure. The trustees consider that reserves at this level will ensure that, in the event of a significant drop in funding, they will be able to continue the charity’s current activities while consideration is given to ways in which additional funds may be raised. This level of reserves has been maintained throughout the year.

The trustees have assessed the major risks to which the charity is exposed, and are satisfied that systems are in place to mitigate exposure to the major risks.

The trustees intend to continue the provision of accommodation for poor people of good character, and will maintain the present properties in good order and hold investments as at present as a means of continuing the charity's objectives.

Structure, governance and management

The charity was established by the Order of the Charity Commissioners on 18 September 1973. There are twelve almshouses which are situated at Hanover Place, Brighton, East Sussex. The eight constituent charities are listed below.

  1. The charity called Howell's Almshouse, Brighton, in the county of Brighton and in the borough of Hove, in the county of Sussex, comprised in a deed of grant dated 20 August 1859 and a scheme of the Charity Commissioners of 22 June 1966;

  2. The charity called the Percy Wagner Almshouses, in the county borough of Brighton regulated by a scheme of the Charity Commissioners of 3 December 1957;

  3. The charity known as the Pilgrim's Cottages at Brighton, in the county of Sussex regulated by conveyance dated 28 December 1854;

  4. The charity of Laura Sophia Soames for the residents in the cottages of the said charity numbered 3 above which charity is regulated by declaration of trust dated 21 June 1884;

  5. The charity of Laura Sophia Soames for the repair of the cottages of the said charity numbered 3 above which is regulated by declaration of trust dated 17 September 1887;

  6. The charity called the Widows' Cottages at Brighton in the county of Sussex regulated by declaration of trust dated 25 May 1852;

  7. The charity of Laura Sophia Soames for the residents of the cottages of the charity numbered 6 above which charity is regulated by the said declaration of trust dated 21 June 1884;

  8. The charity of Laura Sophia Soames for the repair of the cottages of the said charity numbered 6 above, which charity is regulated by the said declaration of trust dated 17 September 1887 and in the matter of the Charities Act 1960.

The charity is registered with the Charities Commission (registration no. 212270) and the Homes and Communities Agency (Registration number A1614).

Docusign Envelope ID: B71BACD7-A3F1-83F6-839A-B211B7001473

BRIGHTON & HOVE ALMSHOUSE CHARITY

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024

The trustees who served during the year and up to the date of signature of the financial statements were: Mrs K Hancox

Reverend D Millest

Dr F Levack

Councillor M Winder

Trustees are recruited by other trustees or the clerk to the trustees, and serve for as long as they feel able to serve the charity.

Trustees bring varying fields of expertise from their own business and professional experience, and act in decision-making and policy issues, as well as having overall responsibility for the continuation and furtherance of the objects of the charity.

The day to day management of the almshouse is conducted by the clerk to the trustees, Mr Oliver Maxwell-Jones. The trustees meet quarterly to manage the running of the charity, and make strategic and specific decisions.

The trustees have assessed the major risks to which the charity is exposed, and are satisfied that systems are in place to mitigate exposure to the major risks.

None of the trustees has had any interest in contracts or transactions of the charity in the year.

Code of governance

The Charity complies with the principal recommendations of the 2015 NHF Code of Governance.

Value for Money

Value for Money is about being effective in how we plan, manage and operate the Charity, it means making the best use of the resources available to us to provide quality homes to improve the quality of life of our residents, together with high quality services and support.

The trustees' report was approved by the Board of Trustees.

..............................

Mrs K Hancox

Trustee 13 May 2026 | 15:42:48 BST Dated: .........................

Docusign Envelope ID: B71BACD7-A3F1-83F6-839A-B211B7001473

BRIGHTON & HOVE ALMSHOUSE CHARITY

CHARTERED ACCOUNTANTS' REPORT TO THE TRUSTEES ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF BRIGHTON & HOVE ALMSHOUSE CHARITY FOR THE YEAR ENDED 31 DECEMBER 2024

We report on the accounts for the year ended 31 December 2024, set out on pages 5 to 23.

Respective responsibilities of the Board and the reporting accountants

The Board of the Registered Social Housing Provider is responsible for the preparation of the accounts, and they consider that the Registered Social Housing Provider is exempt from an audit. It is our responsibility to carry out procedures designed to enable us to report our opinion.

Basis of opinion

Our procedures consisted of comparing the accounts with the accounting records kept by the Registered Social Housing Provider and making such enquiries of the officers of the Registered Social Housing Provider as we considered necessary for the purpose of this report. These procedures provide the only assurance expressed in our opinion.

Opinion

In our opinion

Price & Company

Price & Company Chartered Accountants

13 May 2026

......................... 30-32 Gildredge Road Eastbourne East Sussex BN21 4SH

Docusign Envelope ID: B71BACD7-A3F1-83F6-839A-B211B7001473

BRIGHTON & HOVE ALMSHOUSE CHARITY

STATEMENT OF FINANCIAL ACTIVITIES

FOR THE YEAR ENDED 31 DECEMBER 2024

Unrestricted Highlighted Endowment
funds
Fund
funds
2024
2024
2024
Notes
£
£
£
Income from:
Charitable activities
10
90,494
-
-
Investments
3
1,988
-
-
Total income
92,482
-
-
Expenditure on:
5
Charitable activities
4
127,781
-
-
Total expenditure
127,781
-
-
Net gains/(losses) on investments
9
-
7,143
5,331
Net income/(expenditure) and movement in funds
(35,299)
7,143
5,331
Reconciliation of funds:
Fund balances at 1 January 2024
168,506
153,466
2,812,694
Fund balances at 31 December 2024
133,207
160,609
2,818,025		 Total Unrestricted Highlighted Endowment
funds
Fund
funds
2024
2023
2023
2023
£
£
£
£
90,494
94,748
-
-
1,988
1,645
-
-
92,482
96,393
-
-
127,781
104,289
-
-
127,781
104,289
-
-
12,474
-
15,634
6,899
(22,825)
(7,896)
15,634
6,899
3,134,666
176,402
137,832
2,805,795
3,111,841
168,506
153,466
2,812,694		 Total
2023
£
94,748
1,645
96,393
104,289
104,289
22,533
14,637
3,120,029
3,134,666

The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.

Docusign Envelope ID: B71BACD7-A3F1-83F6-839A-B211B7001473

BRIGHTON & HOVE ALMSHOUSE CHARITY

STATEMENT OF COMPREHENSIVE INCOME FOR THE YEAR ENDED 31 DECEMBER 2024

2024 2023
Notes £ £
Turnover 4 90,494 94,748
Operating expenditure 4 (127,781) (104,289)
Operating surplus/ (deficit) 6 (37,287) (9,541)
Interest receivable 3 1,988 1,645
Movement in fair value of investments 9 12,474 22,533
Total comprehensive income for the year (22,825) 14,637

18th June 2026 The accounts were approved by the trustees on .........................

..............................

Mrs K Hancox

Docusign Envelope ID: B71BACD7-A3F1-83F6-839A-B211B7001473

BRIGHTON & HOVE ALMSHOUSE CHARITY

STATEMENT OF CHANGES IN RESERVES FOR THE YEAR ENDED 31 DECEMBER 2024

Income and
expenditure
reserve
Endowment
fund
designated
Endowment
fund general
£
£
£
At 1 January 2022
176,402
137,832
2,805,795
Total comprehensive income for the year
(7,896)
15,634
6,899
Revaluation in year
-
-
-
At 31 December 2023
168,506
153,466
2,812,694
Total comprehensive income for the year
(35,299)
7,143
5,331
At 31 December 2024
133,207
160,609
2,818,025		 Total
£
3,120,029
14,637
-
3,134,666
(22,825)
3,111,841

Docusign Envelope ID: B71BACD7-A3F1-83F6-839A-B211B7001473

BRIGHTON & HOVE ALMSHOUSE CHARITY

BALANCE SHEET AS AT 31 DECEMBER 2024

Notes
Fixed assets
Tangible assets
12
Investments
13
Current assets
Debtors
14
Cash at bank and in hand
Creditors: amounts falling due within
one year
15
Net current assets
Total assets less current liabilities
Capital funds
Endowment funds-general
General endowment funds
Revaluation reserve
16
Income funds
Highlighted fund
17
Unrestricted funds		 2024
£
£
2,725,000
248,195
2,973,195
3,530
146,409
149,939
(11,293)
138,646
3,111,841
115,835
2,702,190
2,818,025
160,609
133,207
3,111,841		 2023
£
£
2,725,000
235,722
2,960,722
2,236
182,807
185,043
(11,099)
173,944
3,134,666
110,504
2,702,190
2,812,694
153,466
168,506
3,134,666		 2023
£
£
2,725,000
235,722
2,960,722
2,236
182,807
185,043
(11,099)
173,944
3,134,666
110,504
2,702,190
2,812,694
153,466
168,506
3,134,666
2,960,722
173,944
3,134,666
2,812,694
153,466
168,506
3,134,666

18th June 2026

The financial statements were approved by the Trustees on .........................

..............................

Mrs K Hancox

Trustee

Docusign Envelope ID: B71BACD7-A3F1-83F6-839A-B211B7001473

BRIGHTON & HOVE ALMSHOUSE CHARITY

BALANCE SHEET (CONTINUED) AS AT 31 DECEMBER 2024

1 Critical accounting estimates and judgements

In the application of the charity’s accounting policies, the trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

2 Accounting policies

Charity information

Brighton & Hove Almshouse Charity is a registered housing provider.

2.1 Accounting convention

The accounts have been prepared in accordance with UK Generally Accepted Accounting Practice (UK GAAP) including Financial Reporting Standard 102 (FRS 102) and the Housing SORP 2018: Statement of Recommended Practice for Registered Social Housing Providers and comply with the Accounting Direction for private registered providers of social housing in England 2019. The Charity is a Public Benefit Entity as defined by FRS 102.

The financial statements are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value. The principal accounting policies adopted are set out below.

2.2 Going concern

At the time of approving the financial statements, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus the trustees continue to adopt the going concern basis of accounting in preparing the financial statements.

2.3 Charitable funds

Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives.

Restricted funds are subject to specific conditions by donors or grantors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements.

Docusign Envelope ID: B71BACD7-A3F1-83F6-839A-B211B7001473

BRIGHTON & HOVE ALMSHOUSE CHARITY

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024

2 Accounting policies (Continued)

Endowment funds are subject to specific conditions by donors that the capital must be maintained by the charity.

2.4 Incoming resources

Income is recognised when the charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.

Cash donations are recognised on receipt. Other donations are recognised once the charity has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.

Legacies are recognised on receipt or otherwise if the charity has been notified of an impending distribution, the amount is known, and receipt is expected. If the amount is not known, the legacy is treated as a contingent asset.

2.5 Resources expended

Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement, and the amount of the obligation can be measured reliably.

Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges are allocated on the portion of the asset’s use.

All expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all costs related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with use of the resources.

2.6 Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life, as follows:

Social housing properties for letting

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in the statement of financial activities.

Docusign Envelope ID: B71BACD7-A3F1-83F6-839A-B211B7001473

BRIGHTON & HOVE ALMSHOUSE CHARITY

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024

2 Accounting policies (Continued)

Housing properties

Housing properties are properties held for the provision of social housing or to otherwise provide social benefit. Housing properties are principally properties available for rent and are stated at cost less accumulated depreciation and impairment losses. Costs include the cost of acquiring land and buildings, development costs, interest charges incurred during the development period.

Expenditure on housing properties which results in an enhancement of economic benefits of the asset such as an increase in the net rental stream over the life of the property is capitalised.

Expenditure that represents the replacement or restoration of assets that have a separately identifiable life to the property concerned are also capitalised but under a category separate from the property. Such expenditure is then depreciated over the expected useful life of that item.

Any works which do not result in an enhancement of economic benefits of a property are charged to the income and expenditure account. This includes expenditure incurred to ensure that the property can maintain its existing level of net rental income or the standard of performance anticipated when the asset was first acquired or constructed or last replaced.

Grants related to capital costs are deducted from the cost of the properties involved, but are shown separately as deferred income in creditors.

2.7 Fixed asset investments

Fixed asset investments are initially measured at transaction price excluding transaction costs, and are subsequently measured at fair value at each reporting date. Changes in fair value are recognised in net income/(expenditure) for the year. Transaction costs are expensed as incurred.

2.8 Impairment of fixed assets

At each reporting end date, the charity reviews the carrying amounts of its tangible and intangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).

2.9 Cash and cash equivalents

Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

Docusign Envelope ID: B71BACD7-A3F1-83F6-839A-B211B7001473

BRIGHTON & HOVE ALMSHOUSE CHARITY

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024

2 Accounting policies (Continued)

2.10 Financial instruments

The charity has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the charity's balance sheet when the charity becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Basic financial liabilities

Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Derecognition of financial liabilities

Financial liabilities are derecognised when the charity’s contractual obligations expire or are discharged or cancelled.

2.11 Finance

The accounts have been prepared on the basis that the Charity's capital expenditure will be funded by loans or from the Charity's own or other charitable resources. Grants receivable towards capital projects are treated as stated in the notes above.

2.12 Value Added Tax

Irrecoverable VAT which can be attributed to a capital item or expenditure is added to the cost of the capital item or expenses where practicable and material.

Docusign Envelope ID: B71BACD7-A3F1-83F6-839A-B211B7001473

BRIGHTON & HOVE ALMSHOUSE CHARITY

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024

3 Income from investments

**Unrestricted ** Unrestricted
funds funds
2024 2023
£ £
Income from listed investments 16 12
Income from unlisted investments 1,055 990
Interest receivable 917 643
1,988 1,645

Docusign Envelope ID: B71BACD7-A3F1-83F6-839A-B211B7001473

BRIGHTON & HOVE ALMSHOUSE CHARITY

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024

4 Particulars of turnover, cost of sales, operating costs and operating surplus

Note
Turnover
£
Social housing lettings
10
90,494
Other social housing activities
Other
-
90,494
Activities other than social housing
-
90,494		 2024
Cost of
sales
Operating
expenditure
Operating
surplus/(d
eficit)
£
£
£
-
(127,781)
(37,287)
-
-
-
-
(127,781)
(37,287)
-
-
-
-
(127,781)
(37,287)

Docusign Envelope ID: B71BACD7-A3F1-83F6-839A-B211B7001473

BRIGHTON & HOVE ALMSHOUSE CHARITY

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024

4 Particulars of turnover, cost of sales, operating costs and operating surplus (Continued)

Note
Turnover
£
Social housing lettings
10
94,748
Other social housing activities
Other
-
94,748
Activities other than social housing
-
94,748		 2023
Cost of
sales
Operating
expenditure
Operating
surplus/(d
eficit)
£
£
£
-
(104,289)
(9,541)
-
-
-
-
(104,289)
(9,541)
-
-
-
-
(104,289)
(9,541)

Docusign Envelope ID: B71BACD7-A3F1-83F6-839A-B211B7001473

BRIGHTON & HOVE ALMSHOUSE CHARITY

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024

5 Accommodation owned and in management
2024 2023
No of No of
properties properties
Social housing
General housing:
- social rent 12 12
Total owned 12 12
Future planned accommodation in development at the year end - -
6 Operating surplus/(deficit)
2024 2023
£ £
The operating surplus/ (deficit) is arrived at after charging/ (crediting):
Accountants remuneration for independent examination 3,000 3,000

Docusign Envelope ID: B71BACD7-A3F1-83F6-839A-B211B7001473

BRIGHTON & HOVE ALMSHOUSE CHARITY

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024

7 Administrative expenses

Housing
management
costs
Charitable
administration
costs
£
£
Management fees
15,683
-
Rates and water
8,522
-
Insurance
2,459
-
Electricity
1,235
-
Gas
2,363
-
Repairs and maintenance
72,050
-
Garden expenses
5,241
-
Maintenance and survey report and inspection
fees
4,613
-
Television expenses
-
-
Legal and professional fees
6,018
4,259
National Association of Almhouses subscription
467
-
Sundry expenses
1,871
-
Independent examination fee
2,095
905
122,617
5,164
122,617
5,164
Analysis by fund
Unrestricted funds
122,617
5,164
122,617
5,164
For the year ended 31 December 2023
Unrestricted funds
100,402
3,887
100,402
3,887		 Total
2024
£
15,683
8,522
2,459
1,235
2,363
72,050
5,241
4,613
-
10,277
467
1,871
3,000
127,781
127,781
127,781
127,781		 Total
2023
£
9,656
4,831
1,325
952
3,099
62,571
4,930
3,464
23
8,945
293
1,200
3,000
104,289
104,289
104,289
104,289

8 Trustees

None of the trustees (or any persons connected with them) received any remuneration or benefits from the charity during the year.

Docusign Envelope ID: B71BACD7-A3F1-83F6-839A-B211B7001473

BRIGHTON & HOVE ALMSHOUSE CHARITY

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024

9 Gains and losses on investments

Endowment Endowment Total Endowment Endowment Total
funds funds funds funds
2024 2024 2024 2023 2023 2023
Gains/(losses) arising £ £ £ £ £ £
on:
Revaluation of
investments 7,143 5,331 12,474 15,634 6,899 22,533

Docusign Envelope ID: B71BACD7-A3F1-83F6-839A-B211B7001473

BRIGHTON & HOVE ALMSHOUSE CHARITY

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024

10 Particulars of income and expenditure from social housing lettings
Note
Rent and other charges receivable
Turnover from social housing lettings
Administrative expenses
Management
Routine maintenance
Other costs
Operating expenditure on social housing lettings
8
Operating surplus/(deficit) on social housing lettings
Void losses		 Rental
income
£
90,494
90,494
30,262
81,904
15,615
127,781
(37,287)
11,320		 2024
£
90,494
90,494
30,262
81,904
15,615
127,781
(37,287)
11,320		 2023
£
94,748
94,748
19,863
70,965
13,461
104,289
(9,541)
7,003

Docusign Envelope ID: B71BACD7-A3F1-83F6-839A-B211B7001473

BRIGHTON & HOVE ALMSHOUSE CHARITY

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024

11 Employees

There were no employees during the year.

12 Tangible fixed assets

Tangible fixed assets
Social housing properties
for letting
£
Cost or valuation
At 1 January 2024 2,725,000
At 31 December 2024 2,725,000
Carrying amount
At 31 December 2024 2,725,000
At 31 December 2023 2,725,000

The investment properties were valued at £2,725,000 on 15 October 2021 on a fair value basis, subject to the existing tenancies, by Messrs Flude, Chartered Surveyors, and consider that at the year end the valuation is reasonably up to date. No depreciation is provided in respect of these properties.

At 31 December 2024, had the revalued assets been carried at historic cost less accumulated depreciation and accumulated impairment losses, their carrying amount would have been approximately £22,809 (2023 - £22,809).

The Brighton and Hove Almshouse Charity was originally created from a number of smaller charities. Information relating to the acquisition values of the freehold properties is not known. - Alterations and improvements made since the establishment of the combined Charity in 1973 were capitalised as improvements, and the cost of these is the figure shown as historical cost in the note above.

The properties owned comprise 12 units, all let as almshouses in accordance with the provisions of the Order under which the charity was formed.

Docusign Envelope ID: B71BACD7-A3F1-83F6-839A-B211B7001473

BRIGHTON & HOVE ALMSHOUSE CHARITY

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024

13 Fixed asset investments

Cost or valuation
At 1 January 2024
Valuation changes
At 31 December 2024
Carrying amount
At 31 December 2024
At 31 December 2023
14
Debtors
Amounts falling due within one year:
Rent and service charges receivable
Prepayments and accrued income
15
Creditors: amounts falling due within one year
Rent and service charges received in advance
Accruals and deferred income		 Unlisted
investments
£
235,722
12,473
248,195
248,195
235,722
2024
2023
£
£
1,194
1,228
2,336
1,008
3,530
2,236
2024
2023
£
£
4,038
3,719
7,255
7,380
11,293
11,099		 Unlisted
investments
£
235,722
12,473
248,195
248,195
235,722
2024
2023
£
£
1,194
1,228
2,336
1,008
3,530
2,236
2024
2023
£
£
4,038
3,719
7,255
7,380
11,293
11,099
248,195
248,195
235,722
2023
£
1,228
1,008
2,236
2023
£
3,719
7,380
11,099

Docusign Envelope ID: B71BACD7-A3F1-83F6-839A-B211B7001473

BRIGHTON & HOVE ALMSHOUSE CHARITY

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024

16 Endowment funds

The endowment funds of the charity include unrealised surpluses on the revaluation of the freehold land and buildings held to fulfil the objectives of the charity.

Balance at
1 January
2024
£
Expendable endowments
Fund Capital Account
2,812,694
2,812,694		 Incoming
resources
£
-
-		 Movement in funds
Resources
expended
Transfers Revaluation
gains/(losse
s)
Balance at
31 December
2024
£
£
£
£
-
-
5,331
2,818,025
-
-
5,331
2,818,025		 Movement in funds
Resources
expended
Transfers Revaluation
gains/(losse
s)
Balance at
31 December
2024
£
£
£
£
-
-
5,331
2,818,025
-
-
5,331
2,818,025
2,818,025

Part of the fund balance relates to unrealised surpluses on the revaluation of the investments held in the fund.

The amount of the unrealised revaluation surplus at 31 December 2024 was £2,702,190 (2023: £2,702,190).

17 Endowment funds - Highlighted fund

These are endowment funds funds which are material to the charity's activities.

At 1 January
2024
£
153,466
Previous year:
At 1 January
2023
£
137,832		 Gains and
losses
At 31
December
2024
£
£
7,143
160,609
Gains and
losses
At 31
December
2023
£
£
15,634
153,466

Docusign Envelope ID: B71BACD7-A3F1-83F6-839A-B211B7001473

BRIGHTON & HOVE ALMSHOUSE CHARITY

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024

18 Designated funds

The unrestricted funds of the charity comprise the unexpended balances of donations and grants which are not subject to specific conditions by donors and grantors as to how they may be used. These include designated funds which have been set aside out of unrestricted funds by the trustees for specific purposes.

Extraordinary Repair and Improvement Fund

This fund is to provide for extraordinary or irregular property repairs and future improvements to the properties.

19 Analysis of net assets between funds

Unrestricted
Endowment
Endowment
funds
funds
funds
2024
2024
2024
£
£
£
At 31 December 2024:
Tangible assets
-
-
2,725,000
Investments
-
155,170
93,025
Current assets/(liabilities)
133,207
5,439
-
133,207
160,609
2,818,025
Unrestricted
Endowment
Endowment
funds
funds
funds
2023
2023
2023
£
£
£
At 31 December 2023:
Tangible assets
-
-
2,725,000
Investments
-
148,028
87,694
Current assets/(liabilities)
168,506
5,438
-
168,506
153,466
2,812,694		 Total
2024
£
2,725,000
248,195
138,646
3,111,841
Total
2023
£
2,725,000
235,722
173,944
3,134,666

20 Related party transactions

There were no disclosable related party transactions during the year (2023 - none).

Issuer

Price & Company

Document generated Tue, 23rd Jun 2026 7:54:06 BST

Document fingerprint b899fef98878514bc526d170ebcac646

Parties involved with this document

Document processed

Party + Fingerprint

Tue, 23rd Jun 2026 7:56:41 BST Price & Company - Signer (cadd36f2ba3451997e7558fd8c8c6700)

Audit history log

Date

Action

Tue, 23rd Jun 2026 7:54:06 BST Tue, 23rd Jun 2026 7:54:06 BST

Tue, 23rd Jun 2026 7:55:02 BST Tue, 23rd Jun 2026 7:55:03 BST Tue, 23rd Jun 2026 7:55:09 BST Tue, 23rd Jun 2026 7:55:12 BST Tue, 23rd Jun 2026 7:55:22 BST Tue, 23rd Jun 2026 7:56:41 BST Tue, 23rd Jun 2026 7:56:41 BST Tue, 23rd Jun 2026 7:56:41 BST Tue, 23rd Jun 2026 7:56:41 BST

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