MRS GELL'S ALMSHOUSES- ICKENHAM REGISTERED CHARITY NO. 213205 TRUSTEES REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025 MRS GELL'SALMSHOUSES- ICKENHAM TRUSTEES REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025 INDEX Page Legal & Administrative information Report of the Trustees Report of the Independent Examiner Statement of Financial Activities Balance Sheet Notes to the Financial Statements 8-14 MRS GELL'SALMSHOUSES- ICKENHAM LEGAL AND ADMINlSfRATIVE INFORMATION TRUSTEES EX-OFFICIO Revd C Britton Mrs L Varley Mr G Edwards Mrs R Duff Mr R Lavender Rector Churchwarden resigned 2914125 Churchwarden resigned 2914125 Churchwarden appointed 2914125 Churchwarden appointed 2914125 ) St. Giles Ickenham Mr K Arnold MrELee Mrs R Hodgson Trustee Trustee Trustee CHARITABLE STATUS Mrs Gell's Almshouses is a charity registered with the Charities Commission in England, charity number 213205. It was established in 1857 under the will of the late Charlotte Gell of Ickenham, for the benefit of elderly alms people being church members. CLERK TO THE CHARITY Miss B Baxter TREASURER MrELee INDEPENDENT EXAMINER Mrs F Chandramohan FCA PRINCIPAL ADDRESS St.Giles Rectory, 38 Swakeleys Road, Ickenham, Middlesex PRINCIPAL BANKERS Barclays Bank plc MRS GELL'S ALMSHOUSES- ICKENHAM TRusfEESANNUALREPORT FOR THE YEAR ENDED 31 DECEMBER 2025 The Trustees present their report and the financial ststements for the year ended 31 December 2025. PRINCIPAL ACTIVITY The Charity's principal activity during the year continued to be the administration and management of the Almshouses at 22A-26D Swakeleys Road, Ickenham, Middlesex, UBIO 8BG. The Trustees are satisfied that the work of the Charity is in accordance with its objectives and provides tangible benefits to the occupants of the Almshouses. REVIEW OF AcfiviTIES Routine upkeep and maintenance of the flats was continued throughout the year. Further window replacements were completed; the cost being met from the Extraordinary Repairs Fund. Major exterior redecoration works were also completed, together with carpet replacements in two of the flats. These costs were met from the Cyclical Repairs Fund. FINANCIAL REVIEW AND RESERVES POLICY Regular payments toward maintenance, heating and lighting from the residents, together with dividends from investments, amounted to an income of £32,219 for the year. The major areas of expenditure were on maintenance of the property and gardens, energy costs and depreciation of fixed assets, being the capitalised cost of major refurbishments to kitchens, bathrooms and windows and the summer house refurbishment. Together with other running costs, total expenditure in the year was £40,591, half of which was paid from designated or restricted funds. However, the funds invested with M&G Investments yielded a gain of £66,534 which led to an overall surplus for the year of £58,162. The Trustees have set aside, as designated funds, a sum of £78,000 for extraordinary repairs and £40,000 for cyclical repairs, reserves which they believe are adequate for these requirements. MRS GELL'S ALMSHOUSES- ICKENHAM TRUSTEES ANNUAL REPORT FOR THE YEAR ENDED 31 DECEMBER 2025 (continued) RISK MANAGEMENT The trustees review the risks which the Charity faces on a ￿gUlar basis and confirm that steps are then taken to mitigate any significant risks. TRUSTEES RESPONSIBIUTIES IN RELATION TO THE FINANCIAL STATEMENTS The Trustees have reviewed the Almshouses financial position including projected income and expenditure in the coming year, the level of cash and reserves together with the system of financial management. As a result of this review, the Trustees are of the opinion that the Almshouses Charity is well placed to manage its operational and financial risks successfully. The Trustees have a reasonable expectation that the Almshouses have adequate resources to continue in operational existence for the foreseeable future and therefore continue to adopt the going concern basis of accounting in preparing annual accounts. MRS GELL'S ALMSHOUSES- ICKENHAM INDEPENDENT EXAMINER'S REPORT TO THE TRusfEES OF MRS GELL'S ALMSHOUSES FOR THE YEAR ENDED 31 DECEMBER 2025 I report to the trustees on my examination of the accounts of the charity for the year ended 31 December 2025 which are set out on pages 6 to 14. Responsibilities and basls of report As the charity's trustees, you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011. I report in respect of my examination of the charity's accounts carried out under section 145 of the Charities Act 2011 and in carrying out my examination I have followed all the applicable directions given by the Charity Commission under section 145151(b) of the Charities Act 2011. Independent Examlners Statement I have completed my examination and confirm that no material matters have come to my attention in connection with the examination, giving me cause to believe that in any material respect: l. Accounting records were not kept in respect of the charity as required by section 130 of the Act; or 2. The accounts do not accord with those records: or 3. The accounts do not comply 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 with the examination to which attention should be drawn in this ￿port to enable a proper understanding of the accounts to be reached. Mrs. F Chandramohan FCA Date= 201 MRS GELL'SALMSHOUSES- ICKENHAM STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2025 Income and Endowments from: 2025 Total Funds 2024 Tota5 Funds General Fund Designated Funds Restricted Funds r4ute Donations Charitable Activities Investments loo 31,548 571 loo 31,548 571 31,548 568 Total Income 32.219 32,219 32,116 Expenditure on: Charitable Activities Other Expenditure 20.270 17,813 2.508 40,591 29.268 Total Expenditure 20,270 17,813 2,508 40,591 29,268 Net Income/(Expenditure) before transfers 11.949 117.813) (2,508) (8,372) Transfers between Funds Gross Transfer5-in Gross Transfers-out 11,999 1,740 13.739 113,739) 26.984 126.9841 113,7391 Other recognised gainsllosses Gain/loss on investment assets 66,534 66.534 31,817 Fund net movement 64,744 15.814) {7681 58.162 34.665 Fund5 brought forward Funds carried forward 325,949 390,693 176,459 170.645 19,440 18,672 521,848 580,010 487.183 521.848 MRS GELL'SALMSHOUSES- ICKENHAM BALANCE SHEET AT 31 DECEMBER 2025 2025 Total Funds 2024 Total Funds General Fund Designated Funds Restricted Funds Fixed Assets Tangible Assets 52.645 18,672 71,317 77,899 Current Assets Debtors Investments Cash at Bank / in hand 1,184 362.073 1.184 475,989 1,160 409,455 113,916 29,414 4,084 33,498 34,784 Current Liabilities Creditors: amounts falling due in one year io 11,978} 11,9781 11,450} Net current assets Total Net Assets 390.693 390,693 118,000 170,645 508,693 580,010 443.949 521.848 li 18,672 Represented by: Unrestricted Funds Restrirted Funds 12 13 390,693 170,645 561,338 18,672 502,408 19,440 18,672 Fund Totals 390.693 170.645 18.672 580,010 521,848 Approved by the Trustees on: and signed on their behalf by: B.Baxter (Clerk) uff(Trustee) ee(Treasurer) MRS GELL'S ALMSHOUSES- ICKENHAM Notes to the Financial Statements year ended 31 December 2025 l. Basis of preparation These financial statements have been prepared under the historical cost convention, recognising items at transaction or cost value. The exception to this is that investments are valued at the current market value prevailing at the balance sheet date. The financial statements have been prepared in accordance with the Statement of Recommended Practice: Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102) issued on 16 July 2014 and with the Charities Act 2011. The charity has tsken advantage of the provisions in the SORP for charities applying FR5102 not to prepare a Statement of Cash Flows. The trustee5 have considered the level of funds held, together with the expected levels of income and expenditure in the 12 months following the date of these financial statements. They also believe that there are no material uncertainties and therefore these financial statements are prepared on a going concern basis. 2. Accounting policies-income The charities principal income derives from maintenance and heating contributions receivable in respect of housing accommodation comprising eight bed-sit dwellings and one flat occupied by the trustees, representative. Income is included in these financial statements when the charity becomes entitled to it, it is more likely than not that it will be received and a reliable value can be attributed to it. Grants and donations a￿ only included when the above criteria are met. MRS GELL'S ALMSHOUSES- ICKENHAM Notes to the Financial Statements year ended 31 De￿mber 2025 (continued) 3. Expenditure and liabilities Resources expended are recognised within the period to which they relate. Liabilities are recognised where it is more likely than not that there is a legal or constructive obligation committing the charity to pay out resources and the amount of the obligation can be measured with reasonable certainty. 4. Taxation Mrs Gell's Almshouses is a registered charity and is therefore exempt from taxation on its income and capital gains. 5. Analysis of Income 2025 Total Funds 2024 Total Funds General Fund Designated Fund5 Restricted Funds Donations received Charitable activities- Maintenance contributions Heating contributions loo 100 20.976 20,976 20,976 10,572 31,548 10.572 31,548 10.572 31.548 Investments: Dividend income Investment income 571 571 545 23 571 32,219 571 32.219 Total income 32,116 MRS GELL'S ALMSHOUSES- ICKENHAM Notes to the Financial Statements year ended 31 December 2025 (continued) 6. Analysis of Expenditure 2025 Total Funds 2024 Total Funds General Fund Designated Funds Restricted Funds Charitable activlties: Repairs & Maintenance Garden maintenance Gas Electricity Water Insurance Helpline Stationery & Postage Cleaning Subscriptions/Donations Bookkeeping services Software fees Depreciation charges Miscellaneous 4,335 2,780 7.119 444 1,696 2,186 11,999 16,334 2.780 7,119 444 1,696 2,186 7.226 1.875 7,752 290 684 1,739 14 540 353 600 180 14 540 353 600 450 343 740 180 8.322 23 180 7,974 15 5.814 2,508 23 Total Expenditure: 20,270 17,813 2.508 40.591 29.268 io MRS GELL'S ALMSHOUSES- ICKENHAM Notes to the Financial Statements year ended 31 De￿rnber 2025 Icontinued) 7. Tangible fixed assets Housing Property- historical cost Housing Property- improvements Summer House renovation Total Cost.. At l January 2025 Additions Disposals At 31 December 2025 17,760 58,141 21,600 1,740 97,501 1,740 17,760 58,141 23,340 99,241 Depreciation: At l January 2025 Charge for the year At 31 December 2025 17,442 5,814 23,256 2,160 2,508 4,668 19,602 8,322 27,924 Net book value: At l January 2025 At 31 December 2025 17,760 17,760 40,699 34,885 19,440 18,672 77,899 71,317 Mrs Gell's Almshouses were constructed in 1857 and since there is no record of the original cost, no value is attributed thereto. Improvements carried out in 1982, which amounted to £ 150,281, were mostly financed by a Housing Association Grant. The remaining balance of £ 17,760, met by the Almshouses, was capitalised. As the properties are maintained in a state of repair such that their residual value is not less than this historic cost, no annual depreciation charge is made. Major refurbishments to the kitchens and bathrooms, costing £ 58,141 between 2021 and 2023, and the refurbishment of the summer house costing £23,340 between 2024 and 2025, have been capitalised. These assets are being depreciated on a straight-line basis over 10 years. li MRS GELL'S ALMSHOUSES- ICKENHAM Notes to the Financial Statements year ended 31 De￿rnber 2025 (continued) 8. Debtors 2025 2024 Prepaid insurance premiums Prepaid Almshouses Association Fees 810 374 1,184 807 353 1,160 9. Investments 2025 2024 M&G Charity Multi Asset Fund 475,989 475.989 409,455 409,455 10. Creditors 2025 2024 Accrued tree pruning costs Accrued gas costs Accrued electricity costs Accrued water charges Accrued bookkeeping fees 1,020 480 140 98 240 1.978 800 290 120 240 1,450 12 MRS GELL'S ALMSHOUSES- ICKENHAM Notes to the Financial Statements year ended 31 De￿mber 2025 (continued) 11. Analysis of Net Assets between funds Unrestricted funds Restricted funds Total 2025 Fixed Assets Current Assets Current Liabilities 52.645 510.671 (1,978) 18.672 71,317 510,671 (1.978) 561.338 18,672 580,010 12. ANALYSIS OF UNRESTRICTED FUNDS General Fund Cyclical Repairs & Malntenance Fund Extraordinary Repairs Fund Investment In Property Fund Total unrestricted funds Balances at l January 2025 Incoming resources 325.949 40.000 78.(M)O 58.459 502,408 98,753 98,753 Outgolng resources (20,270) (10,601) (1,398) {5,814) {38,083) Transfers inl{out} Balances * 31 December 2025 The Cyclical Repairs & Maintenance Fund is set aside for periodic repairs to the properties and the Extraordinary Repairs Fund is set aside for non-routine and more major repairs. The Investment in Property Fund holds the value of capitalised assets. (13,739) 10,601 1,398 (1,740) 390.693 40,000 78.000 52,645 561.338 13 MRS GELL'S ALMSHOUSES- ICKENHAM Notes to the Financial Statements year ended 31 Deomber 2025 (continued) 13. ANALYSIS OF RESTRICTED FUNDS Cottage Summer House Fund Totsl Restrlcted Funds Balance at l January 2025 Incoming resources Outgoing resources Transfers in/(out) Balance at 31 December 2025 19,440 19.440 (2,508) 1,740 (2,508) 1,740 18.672 18,672 The Cottage Summer House Fund comprises the net book value of the refurbishment of the summer house in the property gardens in 202415. 14. COMMITMENTS At the balance sheet date there were financial commitments in respect of tree pollarding and pruning, £3,160, and scaffolding costs, £5,580. These works are planned for January 2026. Although not contracted for, the trustees are expecting some roof repairs will be necessary in the near future. The cost of this is not known but will be covered by the Extraordinary Repair Reserve as necessary. 15. OFFICERS AND SENIOR EXECUTIVE EMOLUMENTS The Trustees are defined as the officers and senior executives. No remuneration or expenses were paid to the Trustees (2024: NIL) 14