EGREMONT AND SOMERSET ALMSHOUSE CHARITY (Registered Charity Number 212864) UNAUDITED FINANCIAL sTATEME￿Ts FOR THE YEAR ENDED 31ST OCTOBER 2023 ECREMONT AND SOMERSET ALMSHOUSE CHARITY CONTENTS PACE RefcRt*eatyJ Administrati￿d￿11s I￿¢ Examitvs. Rry Statemcntof FinarKial Aciiviries forthe 3151 (krotra2023 Balance Sheet as at 31# (kb)t* 2023 Noi¢s to the ACc￿nts 7- 12 EGREMOP4T AND SOMERSET ALMSHOUSE CHARITY P8ge I REFEREf*CE ANDADMINISTRATIVE DETAIiS 2128(A Prirtipal We* Sussex GU28 ODU Solicitor& Farrel & Co 66 Lirtolth's Imi F Wf2A JLH Indqxndent Examirter. Mrj A ￿mett ACA Martin awj Corrw A¢¢wrtiaftts 25 Si w1￿hester H8mpshife S023 gHJ BHnk¢r5.' National Wcsmiinw Bank pk M&Tk¢t Sq Pttworth C￿128 OAL Managing Agtmts Savius Petworth Ww Sll&sex GU28 ODU EGREMONT AND SOMERSET ALMSHOUSE CHARITY Pa8c 2 TRUSTEES. REPORT FOR THE YEAR ENDED 31ST ocfoBER 20Z3 The Truste¢s present thrrir rcFx>rt a￿1 finarKh115tstcn￿ts of E8TErMntaThJ &Jmet5cr Alnthjuse Charity for the year ended 31st(ktob¢r 2023. Legal and *JministMivt ¢nform#tioth s¢t out on infornlltion page fOrn￿Part ofthis ryrt. Th¢ finÈn¢io] th¢en￿t5 have been prtyartyj in ac¢ordan¢e with tht ¥¢ouThting rrt>lic1essetf￿t in the Mtes to ihexcounts and comply with the Ch8rity'sTwst I)e￿. the Chanti¢s Act 2011 Accounring and Rcwkrringbycharitith Sta*tnEniof RttorruneTr]￿l Practice applicableto charities preparing their accounts In xc0rdar￿tWllh ihe FiTWi¢l￿ Rtp)llirtg Si•ndard applicable in the UK aTrJ Republi¢of 1rti4￿J published in October 2019 Strueiure. goverll*Deexnd tnallagememt Co•stilutioD CoverDiThg Dorument The charity, Regi51rdiion No. 212864. isalso kTh)wth8s son￿se1 Hospitsl. irt North Str#¢ Petwotth Egrttwnr AIN￿l¥Juse5 ill HoTshaTn Ro*J. Peiworth. Th¢ wvem¢n8 document is a sclteme sealal by thecharity Com￿SSIOnErs on 12th Septerrkner 1983. This wbsAwenily by a scheme sealed by thecharity Commi55ionu50n 4th 21￿1 wrh tt8aTd itrconnerna Persjn tTrn5actions. org*n￿1￿)n, Trusitts aod M*A48emeDI Th¢ trnStr¢50f tb¢ charity at 3 1st (ktober202J. all of wknm hddoffice thtDuglMvJtthe Y￿ were: The Lord Egret￿ffl The Canon M Gillxrt The L￿Y E¥re[￿nI DrSP¢n MrJ Riddell lapw)in*d 26105ll0231 The TTUSt Ikal noies thai the five knJs*es slv)uldeorTyiseof Iwo ex-offi¢io The LoTd E8ttnK>nt a￿￿ Recror from ihrparish of St Mary Peiworth, ¢o-OPtsliV¢ bwsttes. Thtctropthtiwe In￿£¢$3rc app)int&l for fiv¢yt8rs Can tre tt*le¢ied. The trnstees have aprAiiMaL a resident warden. aThl Savillsarrcn8ag•J to overseethe manaBerr*nrof Charity. The accounts are aintained at Lord E8fETTh>nr's E5teie Office in Pe￿rth. The full bDard of tsu5teesn)Ety5 a ￿. All new m￿fee5 are fully brief on knw ihe OT8anisation operairs lo thsure that they their obligationsosbus*¢s. As v¥*n¢ies fOrM￿lee5 an5e, applications are sought from poitniial ¢andid¥ttsknown ￿ the tnste¢s •rn1oth¢rsui¢abl¢ lo¢￿ wple. Applic￿($*￿e then ¢onsideTed by the tW51ee5 Ond app)inimettts by resolut￿n￿[the tN*ecs Objectivts llctivities Somer5cI Hospital was enO)wd on Sihjathuary 1746. •thlthe Eglert￿ni Almth)us¢son 3 1st Dxember 1836. The two chariti￿ were amalgama*d on 12th September 1983. Th¢ Sonxrs¢t Hospit￿ twtldin8¢ont•ins tiin¢se1frfontsi￿j residential flais all of whith were availabl¢ 10 1¢¢ in the yeat s¢lf-collrained resid￿1 warth5' maison¢tt¢. TheJ¢ isalso a Tesid¢nts' lounge atyj a spare bedroom for guests. The Egremnt Almth>ll5es Fojikling contri￿% fourresidcntial fl*& The charity knlds itspeTll]anenl etthwmi proFtyarvJ appliestht l￿metherefr0￿ atyj fmm other ￿urCeS 10 ihe tnana8ement. mainienath¢¢. repair. improven￿Tht Or[d￿lIding0[lhc E&renJ)￿ Alm$￿Se58￿1 Hospityl Almshouses an4 subject lo tneetin8 Ihw¢osis,othmwse awly th¢ Ir￿orne for the b¢rfit oftht ￿dents in the A]nth)uscs Public Bellefit The iNstees confiTm rtKy havecornplid with theduty in ￿lon 1715lofihe 2011 ChaTiiieS Act ￿ havedue rewd to 8uidarKe b)ish￿ by the Cl)arity Commission. Tr beth￿ltsth￿41lse from the¥ims (Asje*tiVe50f the ¢harity are the pmvision of rduced cost accomm￿￿3t10n for a8ed rxx)rperwt Achievements and performaD¢t The Iru5*esconlinue lo be sarisfjed thai Ihe¢harity is meetin8 its L￿Je¢￿V Fln*DdAI Rtht The chBniy mth a surplus forthe yearof £49240121r22- £70J34lbefore tcvaluathoThof investmEntsarKi b2foretrntLsfers betw¢¢n futwjs. Thi$ was afteT incurring￿￿] t￿l￿1C￿¥￿e *¥J TrFwr¢osr% incI￿j1￿8cYC1iral ￿P11r* on the ajthuses of £56,36212022- £25.1391. UnTealised profitson revaluatton of investrnent5 totallgd r21.62312022- kns5es£213J911 resuliin8 in a ￿rpluS forthe year of£70.863 l¢ompated with a dcficl of £143.057 in 20221. EGREMONT AND SOMERSET ALMSHOUSE CHARITY Page 3 TRUSTEES. REPORT FOR THE YEAR ENDED 31ST ￿tOBER 202J FiDaD¢ig1 Collt'd The nel assets al 3151 OrwLxr2023 atTh)unttrJ fv £4.IWJ3.(Wl¢oryartyJ wiih£3.932.201 at 31stlkiober2022lof which £3,840,631 12022- £3,758.8231 was held as fixed The trusteesconsiderthat Ihecharity wll bEabletO Tf*i itsfuture liabilitiesaTrJ ¢onfitTll th￿all as5Ct5 ITE held in accoT&nce with the tru51ee5' wweT5. Rlsks Through the employment of profcs5ional ￿vI￿)r￿1he tru5tee5 5cek to erbsurEthat all of theCharity"s management a￿1 decision tnaking processestake full accouni of aTrJ ttywly with rrlevant lews1￿10th atyj rt8ulatory ¢ontfvl& Insur8n¢e lnt1udin8pro￿rty OWnEt5hip and public liability 1$ Te4$se$￿ anrjually. Reserves Poli¢y Th¢ charity aims tt) maintain an ad4tRte cash r￿erVe wthin gerKrnl urtTf5trictd fvThJ5 forday to day Tuntting costs. At (he Y￿rend the charity had £721,55112022- £075.4971 in BeTbEral free TeseTves afteT ty8nsferrin8 £0 ￿ theCyclir81 Mainienance fund12022 £60.000 to the Cyrli¢al Mainienan¢¢ Futtdldetailsof whKh •r¢di8clos&l in no* 14. Th¢ Trustrcsairrt toproAimt¢ly a yeWs Tunni08 ¢OSts in Ihis fund and to a¢¢¥mulat¢ fu￿$ for f¥tur¢ repair5 of its old a￿1 histryic propcrtse5 Tvn> designated ￿nds8[C trAiThiained to cover peri￿1c Unex￿[¢dI¥quir￿I ryairc05ts. The tru#ees trview these fundsannually and trHnsferavailable nK)ncy lo build up fuwJ5 forthes¢]w<)s¢ Inve$iment Poll¢y An at)a]ysi5 of invesmKnts held is dctrilal innote 12 ro the finarKHI sMemEnt5. The Trusrecs aim fora balanced returnon th¢ Trn$tets Rtspottdbllltltslth rtlarfots t• fbt Fl*aMeialStxtrme•ts The Irustees are Tesponsible forpTep*ing thtrTntstees' Arthu•l Rep)rt and ihe fiman¢i#l s¢aiett*nts ith *¢othewith applicable law and Unitejj Kingdom Accountin8StandardslUttittd Kin8domGenera]ly A¢licKs and then apply them co￿￿¢￿1]Y. - observethe principles in IheCharitiES SORPIFRS 1021: - make jud8ementsand ¢#im*i¢s that are r¢asomable prwlent,. - stste whdherapplicable accounting sr3ThJardsknvebecn followvl 9JbiccE to any wdterial dep3n¥res disclosal explain¢d in the financial stalenKnl& - ptVTe th¢ finan¢ial stat¢nKntson the golngconccrn￿￿5 UTr1￿ it Is irMppropria¢ ￿ pr¢su￿ that th¢ ¢harity *¢ll in optration. ThE trusiees are reswnsible forkeeping WPErarcountin8 ruord5 rhai disc105e wilh re&w)nable accurncy at any iitne the financial position of the charily •nd enable Il*m ¢0 etwre i￿t Ihe fi]wKial s¢atyn¢nts￿ry1y with the Charities A£1 2Ql I, IhE Charities IA¢¢ounts and Repoftsl Re8ulai1o￿ artd prowisionsof thetrnst d¢•l. 8r¢ also wewnsible for safe8uawdin8 the assets of the charity and he￿ce for taking reasonable 5tepsfoT the prevcnti0na￿j detectionof fra￿1 and other iTTegularities. on behalfofthe Trus*cs'. Dated.. Lord Egre - Chairm& EGREMONT AND SOMERSET ALMSHOUSE CHARITY Pa8e4 REPORTOFTHE INDPEh"DENT EXAMINER TOTHETRUSTEES FOR THE YEAR ENDED 31STocfoBER 2011 I report ￿ thecharity trusteeson my examinationofthea¢¢ountsofthe¢hrity fot Iheyearetyjtyj 51￿ (kknbtr 2023 which are set{￿1 on pages510 11. ReapoD51bllltles And bxsls of r￿￿rt As the charity'5 mi*eesyou arc rE5&￿S11￿ef0rl￿ PTrpaT*ion of the acc(*Jntsin xCovJa￿e the rquirements of the Charities Act 2011 I'ihe A¢i'i. I tewrt in Tespect of my exaThnation of the charity sxcountscarricd out uthseciion 145 of the Act atKt in canyingout my examination I have folk>wal all the applicable ￿"rECtIo￿ yvenby thp(1wiryCowAnt5sion utthsection 14515Xbl of the Act. 1•dept￿mIe￿A￿IAeY'$ $tstrmeA¢ I have compleied my exnmiJJatÉon. I confirm nJa*rial ￿￿te[S hove cotDe to my attention incwne¢iion with the￿aMIt￿l0￿ givin8Tne cause to believe that any tna*rial rE5PCCr. - accounting rrcordswete rth kw in Tespenof thetltatity IS twuirtd by 130ofthe Act: or - the a¢¢ounis do a¢¢oYd with thos¢ reco￿. or - the Bccollnts do rn>t comply with the applicablerequiTements cotKerningthe form conteniof accounis setout in the Ch•riiies IAccounis and Rwrtsl Regul￿lOnS 2(K)8 oiherthan any r4uiren￿nI that the xcounts give a'trueatml fair view. which is noi a matter onsidered as parrofan irwjcpervJeniexa]n15￿llL￿. I have no eon¢em$ and haVe¢on￿ acTOSS no oihermatiers ith ¢onne¢iioth theeAamln￿l0th to whs¢h attethion should be drawn in thi5 rep)rt in order to enable a Proper un tandingof the2C¢c￿ to b¢r￿￿. J*nes An8US Jne¢i ACA Martin and CotN)any Charteral Accountams 25 SIT1￿Mas Sireet Win¢hester Hampshire S023 9HJ . 13, rLJ_ 2024 EGREMONT AND SOMERSET ALMSHOUSE CHARITY STATEMENT OF FINANCIAL ACTJVJTIES FOR THE YEAR ENDED 31ST ocfoBER 2023 Totil J111•2•23 TolAI 5111th22 INCOME FROM.. 1?5.469 1?5.469 1)0.667 l#*tJt#**ts -fjlalri￿ Frnren15 12.050 4,645 4.615 f6JL? 55 J65 68,106 73.767 TOTAL INCOME 199336 11&773 EXPENDITVREOF4.. ReFdif5 & Maintenzr Manz¥fflnert. GlattinB faTm51￿￿ Arbittal(K-Gl&rrin¥ farrn l J74 1.374 l J73 2.738 9.193 1,3 14,861 10561 IOJ67 Somers¢t & Eyunoni AlmsfvJJse5 Repirs& Maintyof 50J62 4.126 19J71 4J46 7J53 18.564 Wa¥e5 W3rden & Clcar*r WateTRalc5& CourKIl T EIE£lnEityIIE55 tE(obYritS1 5,442 1&501 18JOI Insujaf TdephLY*11ts5 Itt0￿￿5> rden MaintwKe Swjry ￿￿￿lture (kprc¢ialion AlrnsP￿￿ AsS￿latI￿ Sthcri Accoun[ar￿Yr￿[¥￿5 6,450 ).061 2.661 4.9)? 263 ?4? 5.150 1,980 103.578 5.610 lJ.231 144.074 144,074 TOTAL VAPEI4DttURE 19.641 11&4. NET INCOME 49J4• 7•J.M Net vi￿￿1055¢$10ntTh￿¢5￿y Trdn5fm knween 1.459 19J68 4ET MQVEMENT IN FUND5 i* II4J0571 RECONCILIATION OF FiJf4D5 Fun￿￿7￿￿￿¢5b[￿u5hi fcwdrd 675.497 L)9.4M5 Jts?6.759 3.93?_701 4,075J58 FUND DALANCES CARRIEDFORWARD 721551 4.W3.r 3.9.12201 The 1¥￿0￿1n￿￿rts￿¢es fr￿￿￿arIn$efr￿ iP¢chariil5¢CrfdiNinKf¥mIi￿ Pd¥t6 EGREMONT AND SOMERSET ALMSHOLSE CHARITY BALANCE SHEET AS AT 31ST (￿OBER 2011 ZOZI XED ASSETS Tan¥ible fiAeéassnl and SoTnerset AlmsFK)vse Ch•rity is • ¢harity regi#eral in Engla￿1 and W&le& Thecharity's re8jSt¢rrd number aDd te8iStud offictthldresscanbe fou￿1 ITLtheTn￿lenci￿ ststementsof thecharity. which is a public bEnefii enrity, havebeen P[rya￿] in arcoTdancc wth the Siat¢m¢ntof Recommernled Pr&tice: Accountingawj Rewrrin8by Charitie5 P￿￿TIng YhviTa¢wuIi15 in xcordante with the Financial Rwrring star¥ja￿ appli¢*ble in the UK Rewbli£ of IT¢1￿ IFR51021 iS￿d in Ooober 2019 aThl Ehe Fi￿ancial Reporring StaTrJawd aw)li¢ablt io th¢ UK and R¢publi£ of IrelaThllFR51021 and the Chariiies Aci 2011 aThJ UK Gerterally A¢¢eyed AccouniinB PtxtLceas It applies from 14 January 2015. The financial 51atements have been prep•r•Y utthih¢ his￿¢￿1 ¢osr c0nvemj0￿ ￿ n￿lfi￿1 by the Th*lu￿10￿ of inve5ttneni& The financial siaiernents have bEell prcpaTEd ro 8ive a'true aThl fair view and haw¢dep#rt¢d from lh¢ Ch￿itIeS IAccounis4ThJ Reportsl Re8tslations 2(MJ8 ottly to theextent required to provide a'tsue and fair view. This deporture has involved followirtg A¢wurttin8and Ryrtln8 by Chariiics preparing ihEiT accounts in accordance with the Financial Reportittg Standard applicable in the UK and Republic of IrelarvJlFRS1021 iswvj in(*lobcr 2019 rather than the Accountinga￿l RewrtiThg by Chanries". Sraten*ntof Re¢ortmeth WXli¢eeffx¢iwe from 19 April 2(K)5 whi¢h has since been wiihdrawn. The irns¢ees¢onsiderih8t th¢re are m m&tcriaJ u￿¢￿nIlesakn1the Chan"ty'sability to continue goin8 Incorne All illcome is Te¢o8nised on¢¢th¢¢huity h&5¢ntiilcmeNto the incoff& li is w>bhblethat thE incomc will bc re¢eivtyJ and Catt be ￿liablY m¢&wrth. iknationsare rEco8ni5uI when Tccavableby ihvcharity. Rethtal irKow ts in¢lud¢d ift the wiod th￿ it isdu4 netof4ny I￿g￿ver4)Ican￿u￿￿ Any re[￿charg￿l in advance aredeferred. Bank interest is i￿1￿j¥j whth re¢eiv*Y¢. l￿vI￿ndS3Te recognised when thedivideThl h&sbren dc£larrd arvj tM>tific*orbhasbxn T￿elv￿ of the arTh)uni due. Expenditure All liabiliiiesare recogniscd a5 500n as ihert is a le881 or¢0￿￿1UCtsve obli8atioiicoii)mittin¥ theclwity to thai expeTrJilure atyl it is probabk Ih•i th¢payn￿t will beftquited a￿1 can be reliably nusured. All expeThJiluTE L5 ￿Qu￿ted for0￿ ana¢¢rualsbosisatbJ irflwl¢siffeo)wetthl¢ VAT. Raising fut￿$¢0*$ inClUd¢Tent￿l￿￿tl0￿£hO[￿ ryoperty rcpHirsatKI WAintenancechar8e5 forGlattin8 Farni and are recogThi5ed in iheperi￿i they rejateto. Charitsble exwstsin¢ludetheo)stsinvolvtd ith th¢d•y ￿ day wnnin8of the alnth)uses forth¢ tenants. EGREMOP4T AND SOMERSET ALMSHOUSE CHARITY Page 8 NOTES TO THE FINAYt CIAL STATEMENTS FOR THE YEAR ENDED31ST OCTOBER 2023 ACCOUNTING POLICILS ICONTINUEDI T*rt2iblt FI¥￿ A5sety FiKvJ assttswlmhse on￿￿3[ co$ wa% nK>re £350 havebeeTrcapitrliscd aThl depreciaredoverthe followng peri¢NJs.' Fixrnres a￿] quipttKnl 25Q/o Otia rvJu¢in8 ￿18￿¢* basis Fixturesond EqUIpn￿ldcpreCiaI￿l to ltsstrAn£15 havebecn writECnOff. Frtehold property The *lmshoustt are hIst￿lebUIldingS•￿[ 25 well 35 betngthe functiofml proptttiesof thecharity lknng used to provide tedu¢ed cost accomrrKMlation with the chaTitable decdl are al￿ claswj as hiS￿ncal buildinBsarvJ hence heritage assets. 1￿C to ihe uniquene550f ihe buildingsa rc*e£t of ihvoriwnal properties is diffiruli 10 *ttriLwieand as such Ihe onginal valuesof the assets haye b¢en tx¢luded fwom Ih¢ higty¢t sh¢don the b•*s th•1 Yel¢ablt¢osi lnfomiation is noi available8t￿ convention￿ valuaiion *pproa¢h¢sl¥k wffi¢ioJi rel￿7[ity. The valueof the building5 includal in thexcounis rq)re￿nt5 ittyrDvements undertaken io ihe buildingssince 1983. Since these costs si8Nificantly lower Ihan ihv bjildittgs likely valu4 arwj as the l￿ildIng$ ate kw in good Ttpair, the Trustee$￿lIeve Ihat il ISIK*t woprittkn thye¢i*e the woputi Fixed Assei IDvestrneNts Iiivtstmentsore valued at rnid-mar￿ value* Ehe bal￿51￿cl d*. All Trali5a ar￿ unrralis•J gains aThJ lossesare taken th¢ Ststemcntof Fir￿￿1￿1 ActkVIti InvesimeDI properly Investment prop¢rti¢s forwhi¢h fairvalue can be rdiably withouiuTrluecost oreffort are meB5ural at fair value at rq)ortiThg date with£h￿Be5 in fatr value reco8Tri5cd in nttsainsltosseson iThvcstmeTrts in the stalen￿n¢ of DÉbtors Trnde d¢btorsar¢ r¢urthi at th¢iT sclllement arr￿1. PtcpayrnEnts￿C va]uoaat the preplid a[￿Unt ￿ the Balanc¢ Shcet date. C*sh #i Blxk i*d Jo H•wd Cash ai bartk ¥NI in ha￿* in¢1￿￿¢$ ¢ash athl S￿*rt terni highly liquid investments with short ma￿￿tY0f thret nK*nihs or less fiom Ihedaitof ￿q￿¢$I110n orop¢ningof ihe depositor 5imilarxcount. CTtdAtors Trade CTtyjitorsarwlothtr¢ttds￿￿81t rtty)8nis•J whth the charity has a pr¢5Mt obligatioorewliit18 from past events and ¢an bemeawrtd or¢stJmat¢d reliably. credi￿rsarc rccognLsal at thetrsettlcment arrdyjn Taxatio The ¢haFiry ¥$exthwi tsx on itsthwi¢abka¢tiviii¢s Page 9 EGREMONT AND SOMERSET ALMSHOUSE CHARITY NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED3IST ￿ToBEft 2023 ACCOUNTING POLICIES ICONTINUEDI Fw*d3 Unrcstiicted fuThJsatr futKlsthatcan be ustyj in *cordartt￿th the C1￿1￿1t0bjeets¥i thedis¢retKJn of themisttt Lksi8nda fvnds ar¢ those htththat the I￿￿eJowmet)t fiLn(L4 are those fi1￿lS which are to be held as capita] in ihE fonn of lnvcstrnen￿ eitherpro (kwsits and cannot be 5peM. The i]Korne fivm the knvesmKntscan beU5￿ foT the chantabr rty or 5haTe51 epurtx>se and srn resrrictionon itsuse. INVESTMENT INCOME Tolal 2023 Tothl 2022 FMDds FuMd5 Iln¢omel IDoigll•iedl Dividawjs Interest 58.979 2738 2237 61.216 5.146 55.291 74 TRVSTEES REMUNERATJON & EXPENSES No etnoluments oreApens¢5 were paid ￿ th¢mW￿SdUrinS th¢￿T. EMPLOYEES Ullr¢5tricttd UwrestrI￿ £ndown*nt Fum FuDd5 FuDd5 {IB¢ou*) (Dewatedl Totsl 2011 Tot•1 2012 Wag¢s atkl Salari45 National ImsurwK¢ Pension ¢osts Holiday cover 17.429 lJ47 595 17,429 1.347 595 16.395 1.383 786 Averdge numberof emptyc5 112022- 1 FIXED ASSETS EErtTrDDi E4•ipmEnt H05pitsI H05pitsI Totsl 2023 Total 2022 Cost as ai 111112022 Additiotts during w. Disp)sals durin8 ytar Lo* as al 31IlLi.2U23 23fj,538 697.912 72.370 18,4V4 110.8541 I.IMhS,820 18,W) 110.8541 I.IM,820 Dewffi*ion as ai 111 Ir2022 DePr￿lai1￿n Charge in Year Deprlriaiion IKb disr￿￿15 I)CPTeciation &sat 3111vr2V2_ 59.458 7,909 110.8551 59.458 7,969 110,855 55.154 4,304 N¢1 tKok v•i¥¢• 3111VQU23 236.53 6Y7.Y12 23.a53 ¥5¥.3UJ Y47,3b2 Net to)k wah*at 3111U12U22 236.53 6Y7.Y12 12.Y12 Y47,362 Y51.666 Pkge 10 EGREMONT AND SOMERSET ALMSHOIJSE CHARITY NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR EWDED 31ST OCtOBER 2023 INVESTMEf4TS 202J 2022 Markd Value at 151 Novanber 2022 1.918.461 2,064Jy Add.. Addiii¢)n5 to invesrttK￿alCo Lw.. DisFA)Sg]s at carying Net 8ainllh)ssl on rcvaluaiion 49,244 45.347 21.623 Value al 31st Qkb)t¢r2U23 eowi5inB Charitses OffKiaJ Investsnenl FuThJ ChaTishaTe xcufflulation shatf5 M&GChanty Multi Asset FUNI LGf. formuiy Abetdeen StsThknd prmrfolio 19.793 401.174 434,530 1,053 1,534,228 1.496.473 INVESTMEf4T PROPERTY 2023 2022 lilamn8 k•rn? ¥93.1 8Y3,IW Glatting Fami is incl￿￿*￿ ￿ w•lvation. being estima￿1 marka valu¢ for¢xiwn8us¢ The Trnsw hav¢TeyiV*￿ the walue at 31& (ktobet 2023 thj ¢on%deT thai ¥aJue isjill ¥e•>)wble. DEBTORS 2023 1022 Tr￿¢ debtor5 Jnvestmet4 iKome rry¢ivrknl¢ Rent Tfteivab Rent billa in *Jvar￿e 314 12.759 (13,8271 7.654 288 20,7W> 122,508 8,974 10 CREDITORS.. Amo•nts f*ll*g dme ooe yur 2013 2022 TThleCralitOTS Rtsi Yweiv•Jlbilled in *j¥9￿¢ Otherttyjitors atsj *¢n*ls 11,426 9.480 9,251 EGREMONT AND SOMERSET ALMSHOUSE CHARITY Pa8e 11 NOTES TO THE FIiYANCIAL STATEMENTS FOR THE YEAR Ef4DED 31ST ocfoBER 20LI CONNECTED PERSON TRANSACTIONS During the yearthecljarity i￿ul[￿j expuvjiwrrof £21.52412022- £9.13?) in rr5pecI of wjrllinistrdtion. arKI repairs and in￿rOVementS to the ptDpariesby the ixonfield E￿ale& IAml EgrrrrK>n¢ a trustK 15 the ￿le propri*orof tht LttiKkfieid EsEats ThecrEdirorat thebw"tmin8of the £450. At the end of th¢ yw, ther¢ was a creditorof £480. 12 TRUSTEES JNDEMNITY IP45URANC Truslces itthmnity In￿lINe0r wto £llJl(KN) was it*[WJ￿ ith thewialist aimskn irwr*Kc package with effcct frnm rrnewal in June 2023. 12022 £IIMi(m 13 MOVEMENT IN FUNDS At 1.11.22 Tr*I￿en At 31.10.23 Re#rl¢trd Capitsj EthWr￿t fir￿j 3,026.759 19J68 3.046,127 Ullreslricted fuath I￿oMe futml atthl funds . Extrao￿l￿ary rwir futsj - Cyclical Maintc[￿￿c fuTrJ 675.497 46.054 721,551 150,799 79.146 3.033 153.832 81.554 Tothl fuith 3.932,201 70.863 0 4,￿3,[ lth¢omithK Rttourtes Moven*nt re50Urtes eipewded In funds Rertritted Capital Ethwment fund 19.368 19,368 UnrestrÈ¢ted fund¥ I￿Ome fund ated - Extraordinary ryir fvtbj - Cyclical maint•wKe 2￿1,695 154.641 46.054 3.033 3.033 1408 Totsl funds 225.504 154.IAI 70.863 Details of thecapital R￿0upment fij￿] are set ￿J¢ in 5￿C 15. l4 AP4ALYSIS OF NET kSSETS BETWEE1¥ FUI¥DS Tangible l•ve5trneNt IDveslMeRts Net currTht rixed assets assets Tot•1 Re5trkied fu•ds Capitsl Endownwi FuThJ 303,037 893.¢XK .915,497 165.407) 3.046.127 Unre$trit￿ finds I￿Ome Fu￿] 65521)6 66.285 721.551 ljeyignated Fund5 Extrdordinary Repair FutKI CyclKal m￿ntenar￿e FuThl 73.831 SO.￿1 81.554 153.832 81,554 "l-otsl fund5 EGREMONT AND SOMERSET ALMSHOUSE CHARITY Pag¢ 12 NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST OCTOBER 2023 £ThJowmtrtt Funds These furK15 wtse eThk)wtyJ by a ¢J¢•J forth rdirfof wpty)p￿ itt a d¢S18￿0￿j ar IncoTne FllDd This fund has accumulated ftDm irth5ne rttivtyj aryj the fret fuThJsof the ¢harity which Deslgn•ted FxDds Thes¢ fulxls have ¢sr¥blisknl forthepu4x>seof ryoviding fortheeXtr￿jrdinary Tepairs atKi cjrlical n￿intenance of the PYOWiesothI a yearly sum is ￿ be sd aside in￿e￿￿ fuJMI forthis purr￿>S& The Trusttts havt sth aside £012022 £00.(KX>I thisytar forafttictpatal major repAir& 15 CAPITAL RECOUPMENT FUND In 2013. the Charity commi￿1£￿ au￿riS￿l sa￿1]0￿$ tokllirtg £180.LMX> 10 finarte major r¢pairs and improyemertts wilh repaYme￿tsof this over 30 year5 which c(KllmEncuJ in 2014. The Tnjstees ￿nsider￿j the ¢urrtnl balanceon the Income FuThl a8r<•] ￿ bIl￿g forward thE TEPa￿l￿nI of the ba1￿COU￿1a￿j1r1g Oll the C*itsl R￿auP￿t￿l Furd in 2021. This fiLThI has tK)w rtKrBd with the Capiral E￿￿wMen1 Furd.