EGREMONT AIW SOMERSET ALMSHOUSE CHARITY (Regtstered Charity Nllmber 212864) UNAUDITED FINANCIAL STATEMEI¥TS FOR THE YEAR ENDED 31ST (￿BER 2024 EGREMONt AND SOMERSET ALMSHOUSE CHARITY PAGE B￿an¢* Shert&s a 31#(k*knr2024 Nates totlK A 7-12 EGREMONT AND SoME1￿ET ALMSHOUSE CHARITY REFERENCE AND ADMINISTRATIVE D￿All5 212864 GU28 ODU Soli¢iLm'. FJr¢r& Co 66 LtiKob]Y Imi Fiejth WC2A 3LH In(kpaJdaJt Examujtr. Mrj A Bwnett ACA 25 SI S1￿ct Hthiwshire S023 9FU Wesl s￿ GU28 OAL Savills GU28 ODU EGREMONT AND SOMERSET ALMSHOUSE CHA P•gt 2 TRUSTEFS. REFORT FOR THE YEAR Ef4DED31sr(rroBER2024 The TrusteespieseEittheirrerAYt *)d row￿la1 ststtmmtsof Egmmt A]nth)￿ Chartty fth-the w ended 31stOctober 2024. Le8￿ and th1n15tr*i￿ infont•tiWS¢t OWOD th¢ pag¢ forn￿ wt of thiSTEWrt. Tr finEnc4al strtcmits hav¢ trÉ¢n Prepar￿ in *cord•Jcewith thc x£ountinKp)licies set oul llj IhE notes lothe xcouttsand L￿P]Y with thE aJxity'5 T￿￿1 t)tt¢ the ChatiliesA¢t 2011 and Attounting *dReportUJ8by Ch*itits". St*eN*￿0[Re¢0nD￿ Ptxtice applicable kn dwities PTeparin8 their accout￿ in xe0rd￿ with the Fir￿¢la1 ReF￿s￿thd •Fvlxabk inthc UK ￿dRew￿l1¢ of Ir¢latMlwblishtd in Cktob¢r 2019 CoDstitllllOD and GoverBiDg Docurntnt The chatity. ReBiStrabonNo. 212864, i% also ktsowtt&8 Ho4yitsi in N(ffth Strrt PetstrThth EveTh￿l A]n¥knwes in Hotsh*n Roa¢ Petworth. The 8ovem1ng4knw￿M is a%h¢nKs¢al¢d by th¢ClJJrity ComtDiS5W)W5 ryj 12th Sep*mbet 1983. ThLS su￿￿1￿ntlY 4l*red by * OrgAnIs*tio￿Tru￿tceS *lld M*ll#¥e￿etht The tru51eesofttR ch￿ty at 31A (h4)btr 2024.all ofth)mkdd offi¢¢ilffo￿thc yw wv¢'. The [￿rdE￿￿k)nt The Canon M Gilb¢n The Lady Egrerbw)M DrSP¢ll Mr J Riddell The TnLSt Dttd nottt8 Ihttthe fi￿1￿J$It¢Ssl￿￿Ad￿lS¢ ofnw ¢x4)IficiD]￿ynb￿4 ThE i￿rd eawj ReooT fmm parKshof St Mary PeiwortK thr¢¢ th￿tte$ The LTrOPtknve tr￿le£S *t 4YKK)inted for five yeus bw can be rt-electrd. Them￿1￿5 have aptx)irted aTe51deDiW¥th￿ atyj Sa*lls ut enBW wovv5¢¢tr nwJ&8c￿1Of￿ Chatity. The accou[￿$ are MB]nta￿ed at Lord EyettKxJi's Emt otri¢¢ in Pewrth. Tr fvil Irt)ftTd of rnsteesnKets tsvite a yts. All t)ewinsMees are fvlly briefrd on howthvor88rtisation optrates to ¢nswt th* ¢lw wKkr5tsndtheirobligatsIx￿&S iJuAecs. As va¢*Kits for In￿e¢S arise. applications ate 50u8hi from poieniial ¢4)dIda￿ knowm 10 * ￿treS0￿1￿thEy5￿tablc local ￿p]e. Awli¢antsare wnsid¢r¢d by th¢ th￿[¢£5 and appolntrnentsnth by r¢soluti(xJ ofthe Inlste Objt¢tiv¢JaDd •¢tivi¢ Somerset H05Pital en&)wed on sthJ￿￿8rY 174Q th¢ Ey¢tTh)nt Alt[L%1K>￿Ort 31siDettmter 1836. The n¥0 charirie5 W¢T¢ malBam&ted on 12th Sepiemkn 1983. Th¢ Sonrrw Hoswtsl buildingLY)ntairts nineself-tontaitied residentsal flas a)1 of whith W¢T¢ 3vailableto lei irt the year awj one 5elf-wnw￿￿￿$ithn1WKdeTh%' Ththe tsalso aresidents, a Spa￿ brthwm for guests. The Egre0￿1 Alrr*how¢s ￿lI(￿nE fourtstdtntsal flats. m￿￿tellIn¢t, Tepair, itiWoven￿L0r Tebuilth"ng ofthe EWe[￿t Alrrkn th Stsn￿￿ Hospi￿ Alm51K￿ Subj￿1 to ttKding these CD515, oil*Mse apply th¢ incom¢ forthc beneffit0f￿ le51det￿ in the Ajnkn. Publ1¢ B¢A¢fi¢ Th¢ confirnL they have corylied the duty in 17(5)of ￿ 2011 Cknitics Act lo have due ieg8td io guidath¢t publishcd by thE Chuity Conllnissiou. The tknxfitsth* ar￿e fromthe airr6 *¥J (M>Faivcs of thE chaity theptuvision oftedueed LX>St &¢ommothion for aged wrpersor Athltwtthents i*d perforn*o¢e Th¢ Irw*¢s coniinue to b¢ ￿1$fi¢d¢h￿lthe ¢h*ity L*u￿tit￿1ts FinADciII Revicw The Ch￿IlY s)ude aWu5 forth¢ yurof £933912023- £49340)￿(￿￿ mduatiMofinvesDnentsand b¢foT¢ trwJsfeT5between funds. ThL4 wasafter incuTTin8tirtai ￿￿E￿Ie￿a)ce ￿ watrtosty mcjtyth"￿cYcllc•l rcpJiTS.on th¢ al[￿￿K)us￿Of £78.99712023- £56,362). Reaiised ahd ￿T￿e￿IsedprOfJ1S on re¥￿Uall￿aTh1 ylc5 of IDvc5th￿ts tsAalled£231.65012023- £21.6231 Tesuliing in 4 swpI￿ for y¢w of£240.88912023. £70.8631. EGREMoNfAND SOMER8ET ALMSHOUSECHARTrY TRUSTELS. REPORT FOR ThE YEAR ENDED 31STOCTOBER 2024 FmDciII Review Collyd The net *%sets at 31st OdotrKI2024 *nwlltdto£4243.953 laxrymrd 7rf1£4.(M13.(k54 * 31a(knob¢r20231 of £4.165.513 12023- £3.840,6311 w&8 held fixed ￿ets. Th¢ In￿¢￿s￿OnsId¢TthItthg dwmy ￿71 its kn lth"liiies¥hJ ¢onfThth•t dl assets ave held in xe0rda￿ewith the Rill pr￿￿S¢S th f￿] xwuni of th ¢ÉKroly wilh cimtro]& Ir￿ PToperry ownership and public liability 15 T¢￿¢53¢dO￿￿l￿lty. Reservts Pollty The charity ain￿ ￿MaIn￿1th ￿ &kquate wh reservewithti18eElw￿ frK day to day nm7]￿ L))Sts. Al the yeatcnd the ¢iwtty had£785,63712023-£72I.551}in gw¥J fr¢Ttservrsall¢r W￿re[rUlg£othts Cycli￿7 Malntrn￿ fi￿￿<2023 £0) detsils of Ththich w¢ d￿[￿*￿ in wt¢ 14. Tr Trustees aitn t0matnla1n74Trn￿ty ay￿5 in this fund and to aEounutat¢ for filture iepaiB of it5 ddandhi*xic and tr￿sferav8Ilable￿￿ 10 build up fiJTrts for t￿p￿F Poli Trui1￿ R￿￿*s1b111t￿s i* rtl*tlM th the Flts*•tl*l S¢xtr•t*ts The law applicable todwili¢5 in F￿gI￿d & Walcs Tequire thE tr￿￿t0￿41￿C r￿claI fwt*h fin¥J¢iai year. which give atn]e and f4irviewof ttLe stste of afflits of ¢h*Lty I￿] of tF* ill¢(rfnti￿rt$tyJft¢S and appl1￿10n0f Te50w¢esof th¢ clwity for that . obscrv¢th¢ wincipl￿ in trCknti¢55td irt the firwn¢igl$w¢mits," operation. positionof the chatity alld enajle them th enmthat ts financial $￿t￿￿￿￿￿1Y with th¢ Chariii¢s A¢1 2011, th¢ Ch￿￿¢$ (Accounts and kqm>￿l Regdai0Th8 ￿dthe pmvisiortsof the trwd¢ed. Try wc atso rcspwfyTrl¢ for safr8uwduJ8thc of th¢ si￿¢don b¢halfofdKTnk4ic¢s'. Lord E EGREMONT AND SOMERSET ALMSHOUSE CHARITY REPORT OF THE JNDPENDENT ￿￿￿lNER TO THE TRUSTEFS FOR THE ENDED 31ST ocfoBER 2024 I rw)rtto the charity trus*¢s on my ex*hinationofthe the k¥theY￿ erthd 31AOttober 2024 whithare 5et(Nrt on pages5￿11. RtwMlblUtltJ*•d basts of v¢p•rt As the C1￿]ty'S ITU5tee5you we tesrA)tLsible fo[thEwTaM￿ofthE with thE tc4uitEt[￿llts of the ClJaTiti¢s A 2011 I'the Act'l. I repon in T¢SF¢¢t of rny ¢x￿)i￿lOn ofth¢ ¢harity'5 r4aiimtswrKd (x]t utth s¢oion 145 &Jd iD raryytngouirny examinaiion J hav¢ fo]lowrd all the applicable th"r¢oion5wv¢n by ￿ Cbarity ConMni5sion wth5¢uion 145{5)(bl of th¢ A¢L Ind¢ptud¢•texarniner's ststw¢llt I havetompleted my ex&ninatioii. l t￿fim1 m*enai M*tershaveCTh￿rny attemiM in Con￿¢t1￿￿th thttx•nin&iott giving me cause ￿believ¢th￿ in any r•" . acto￿tingr¢￿Tds wv¢ w k¢pi in Twofth¢ a5 ryullrdby 130oftheA¢ . the accountsdo tM)txcord with l]M)5eTECOt&". OT -the ￿coUntsdo Mi thnply with the appli¢*)k wutruwnts corKtrniDg thc fo￿ and ¢on*niofxrfrtJNs sd ¢￿1 llj th¢ Chwiii IA¢counts and Rew1sI Regul*ions 2￿8 othr than￿Y Teq¥Irtw￿t th&tr*xwJntswv¢a'm¥and f4irvi¢w' whith is Tro¢a mau¢r considered as pan of an md¢* ewinatioD. r¢wrt in (xderto able aptupet J8m¢5 An8U5 B CA 25 St Thom*s Stre Willchetht HaM￿hiTe S023 9HJ GREMONT AND SOMF,RSFT ALMSHOUSE CHAIiITY STATEMENT OF FIP4ANCIAL AcfivTriFS FOR 171E YEAR ENDED 31Sf OCTOBER 2014 3111*2424 31n*2 INCOME FROM.. IIU29 IIU29 125.469 13.( 61118 75210 13.092 828 81.920 12.050 66J62 78.412 6.710 6.710 TQTAL]NCXIME IW.7Jg 71• WENINTUREThW.. Ryirs& ma1yrte￿￿ lJ74 l J74 l J74 9.193 13M8 I3￿8% 10.567 78.997 4.126 20.170 6.4563 7)Bl 17261 7.131 3.181 56.362 4.126 4.126 2O.1Tr A663 7J81 17261 7.134 Woge5 Wth&Ck W•trrR4*5&Cw•l T•x 4.346 Te1c*￿t (kn[Eco￿￿) 2.340 6237 7.492 7.492 437 0.075 437 6.075 263 5.610 1.9W) 144.074 172.123 172.122 TOT*L LVENTirruRE NETJNCOM &71• •J39 493 Ndwnsrf1O53es}￿ Im*stm Ttan5fctsbrtwtth futsts 21557 201. 231.650 21. 13 (￿.(￿) Nrf MOVEME14T INFUNI 70 RECthYCILIATION OF FUNDS Fundbalinc¢sbroughi fonvard 711J51 235J16 3.IMO.127 4.(KI3. 3.932201 FUND BALANCKSCARAI£DFOILWARD 21•W3 EGREMONf AND SOMERS￿ ALMSHOUSECHARITY BALANCE SHEET AS AT 31ST OCTOBER 2•24 Tawbi¢fixedsws FttholdPtoFerty 981.423 19.f*l 934.450 23.853 Iml.lJ84 958.3D3 2271.429 1.989J28 893 893,(KN) 4.l65J13 3.840.631 c￿hat BankatsJehaniJe5tkwFur•l B9.033 176.113 96303 183.013 162.433 4243.953 4.N3.1kn4 3247fft5 3.046.127 Income Funds DesTrwtedFurtd4' Exttaorthnary REPits Fthj cydI￿ Fthj 13 ￿5￿7 r21351 108263 41430 153.832 81354 210M3 235J86 4243.953 4.(￿3.(￿1 MGthrt Dlie... EGREMONT AND SOMEWSET ALMSHOUSE CHARtrY NOTESTO THE Fif4ANCIAL STATEMENtS FOR THE YEAR EP4DED31ST (￿BER21124 STATUTORY INFORMATION ACCOUNTING POLICIES A¢¢0¥Dtirycr￿v¢llIi IIJE Statemtsofthe charity, which is apjblic Wirntsty. hJv¢ bcen pwd in accordance withthe with the F￿￿￿18[ Re￿nIngs￿)d￿d 4>pliubl¢ ID the UK Republicof Itrl*Jd IFRS1021issued in Ociokr2019 atLd the Ftnanthal RepornngSw¢JaTd applith UK aTrJ Republic0fl￿I￿d (FRS1021 and iht Chanii¢sAet 2011 aftd UK G¢J)¢raily A¢£¢Oed AccthMti￿P￿Ilt£ a% it 4Wies ftom l*J*wwy 2015. Th¢ fin￿Cial Mat¢rn¢nts h bccn prwed underthe historical tNwJified by th¢T¢vatu*ion of inv¢strrMts. IAc¢ounis andRep)nsl R¢Bul*ior6 2(NJ8 fflly w th¢¢xtenLrequi¥edto ￿idea.￿￿ *d fair, vitw. This dtpartur¢ha5 involved fol]w￿ A¢¢ovniingand R¢porwby cThzr1tie5￿Vl￿ d*1[*¢O￿ts in a¢uffth¢e w7¢hth¢ Finw)ci R¢poning Stsndwd ￿pIlth ￿the UK Republic of ￿tI￿(FRs102I isswd in (knbb¢r2019 r&h¢rth4nthe Accounung 8rHI R¢tffikDg by Chuilits". St*tt*thiof Rtcth-thnt￿ F￿•C¢¢ffculyC from IA Aptil 2￿5 which h*% slljce bEeD withthaw*. IDtoTh¢ T￿iVed be rtli&Slytlle&%wed R¢ntal is itLcIth in thewKdthat ii is Aty rents clwged in adYanL* ate defeNed. B*)kintertsi is i￿1￿￿ knTrcciv¥ble. Exp¢JditsT¢ All liabilities ¥e rt(WI￿al th¢rE 15 wLxKtsth￿VtoblJ￿￿ ¢onrriuingth¢ ¢baty tothat reco￿]$￿ inthe period tlxy to. chaitknlee4x￿s1ft¢lWkthe ¢osts involvcdinth¢ thy to dlly nmnu>8of the for EGREMoprrAND SOMElL￿T ALMSHOUSE CHARTfY Page8 NOTES TO THE FINANCIAL sfATEMEfiTS FOR TAE YFAR ENDED31sT{￿ToBER 2024 ACCOUNflNG POLJCIFS (Co￿DI T*RgiNt Flxed Asstts Fixed assets whjse oriwnal v)5[W￿rnore £350 have I￿1￿￿1￿d￿J￿W￿1*￿[bw¢r& foliowin8periith.. FiKtUfe5 a[￿eqUip￿￿￿f Fixtures aftdE¢wtpD￿IthP1wl4cdt0)E￿% than £15 havebeth twritwioff. Frttbold proptrty lTh¢ a]rn5houscs aTE hi5tNi¢ buildiw •)d as w¢ll a5 l*ingthE fu￿*its￿ KWiesof the djarity (ttittg used to provid¢ dW￿d ¢ts￿ ￿mn￿lon dJRJtsbk deed) aisodassed&g hi5fffficai I￿1"1d￿￿ and henLY hetits8e assets. thje toth¢ ￿1q￿￿OEthe buildiw a valualion in w of th¢origma] prorwDc5 15 very difficulito attribute and a5 such the otigina] v8iucsof thE have l*enexdwkd thc ba￿¢¢ slwotLth¢ b¥15 thatRliable ￿$1 ujfomwion ss noi availabl¢ and conventi￿￿ y￿uatI(￿l *pwothl&* suffi¢icnir¢lithilAy. Th¢ Val￿ of thebuildiEV irt¢1￿*d in the ￿￿Esents wdtttakenw the twildll¥5 sujce 1983 SMLY these costs are si8nifmrtty low¢rkn ￿L￿￿ld]￿, likely valu4 aThd&4 kept in K(KyJTew.the Ttustees believ¢ li is not spptorKiate to dEweth*e th WOFrttyrs. Inv¢5tyents are Val￿d* mid-m**et valww th b￿￿￿¢*￿1d￿. All Ye4ii*d unrealisedgwD54¥MI I¢)sses aTe ta th¢ Statew£ntof FiTLqncial Aaiviiies. InvtJt•ext pvoperty ]nve5tmeni proptrn.es for wbich fairvalue w be r¢]thty withoututKh￿ cost (Ktffort nx&%wed ￿ fwr value at e8ch rtpJrD"ngd8rewith ch￿8t$ in far valw rww4J uj netgai￿ oty investments inthe STa¢￿t of Auiviiies. TTa(k debtOTS ¥e rttorthdattkirs¢ul¢rD¢ntrnMrt Prtpw￿ •r¢vaiwd* th¢w¢paKI the BalarK¢ Sh¢¢i C￿h It B•Dk ••d IN Hxnd bank and in hand ￿￿￿]e5c*sh slw)rt *trn hi8htyl1quidittvestim￿*ith sh)n mati]rity ofthreen￿Its or le&% Creditors TaLqti Ihe ch¥ity is extrytfrom thxon Itsd￿.￿bIt *(iviti Pagt 9 EGREMONT AND SOMERSET ALMSHOUSE CHARITY NOTES TO THE FINANCIAL STATEMEKfs FOR IHE YEAR ENDED31ST o￿oBER2D24 ACCOUNTING POLICIFS IcoKfiNUED} Funds Uttresttitied fijnds are [￿d$ be u*d In the Chuitsble objcas ￿ the discfrfion of the mwtes. [k$i￿￿ed fi]nd% *e th(tse futyjs thathe thL%tetsh*ve set fot Cycl￿ miintert**ea￿J extr￿[dI￿ary Tepairs. En(knwT[￿rt fullthltt tIM)se filt￿ which ate tok htld&% t4Jitai in the fom) of1nvests￿n1s. either OT shares I dcposits and ¢*moi ￿ SFent. The ir*ome 8*￿#¢d the inv¢5twJts usd for the ¢hanthb ¢ purpose and h8s no restriction on its w¢. INVFSTMENT INCOME Total Totxl 2023 #to*t} {Dt*y*trdl Diwidth InicT¢St .106 2012 2307 62,413 6.415 01.210 5.146 TRUSTEES REMUNERATIOli & EXPENSFS EMfLOYELS To¢•1 Tothl 2023 F#ods Waw *d Saiariu Natio]JaJ I]L8ura￿e 17.742 iJ72 .056 17.742 1,372 1.056 17.429 1.347 595 Holiday co￿¥ Avcrage nwnberofaryioyts I I21)23- 11. FIXED ASSETS Totsl Tol*l 2023 Hwmlal HOSP￿￿1 Cosi &8 at iii In023 Additions duting yw. dunrtg year Lost as at 31111)12V24 230.538 697.912 40.973 80.425 1.014,875 1412 49,385 l.(¥)6,820 18.9(Y) 110.854} reciatM￿ as at 111 Ir2023 Depreciotion Char8e m Yeat DepreC￿lOn on diSr￿￿alS l)epre¢iatson as at 3111t)nv2c 56.572 56,572 59.458 7.969 110.8551 Nei b￿k ￿￿ue at 3111LIQU24 236.538 744.¥85 19.t*Jl I,Wl.V¥4 Y5¥,3V3 Nei Val￿ ￿ 3111vnu23 I3￿53¥ 6Y7.912 23.¥53 Y5¥.3V3 Y47,362 P•8e 10 NOTES TO THE FINANCIAL STATEMENTS FOR THE YFAR ENDED31ST ￿TOBER 2024 2023 1.989.328 1.918.461 Athj.. Additi(m￿ to atL¥*t 6ll64 49.244 219.937 21,623 Matktt Val￿ a 31si(k*th£2U24 19,517 434,530 1.053 ,534,228 M&G Ch￿ty Mutti Asxt Fund LGT Fse The TnL*iees have set &%ide£O12023 £01 this year f(ff aMicw¢dm8Jw ryir4 MMxE&se4