Company registrdtion number: 00461376
Charity registration number: 213320
Frank Hodson Foundation Limited
(A company limited by share capital)
Annual Report and Financial Statements
for the Year Ended 5 April 2024
RWB CA Limited
Northgate House
North Gate
New Basford
Nottingham
NG7 7BQ

Frank Hodson Foundation Limited
Contents
Reference and Administrative Details
Trustees, Report
2to4
Statement of Trustees, Responsibilities
Independent Auditors, Report
6t09
Statement of Financial Aetivities
Balance Sheet
Notes to the Financial Statements
12to25

Frank Hodson Foundation Limited
Reference and Administrative Details
Trustees
J A Lawrence
J Ball FCA
S Perkins Bsc (Hons)
R H Pascual MRICS
A J Belfield
JRBall
A P Kingswood
A-M Pric¢
S Snaith
Secretary
J Ball FCA
Charity Registration Number
213320
Company Registration Number
00461376
The Charity is incorporated in England & Wales.
Northgate House
North Gate
New Basford
Nottingham
NG7 7BQ
RWB CA Limited
Northgate House
North Gale
New Basford
Nottingham
NG7 7BQ
Taylor Rose MW
58 Borough High Street
London
SEI IXF
Registered Office
Auditor
Solicitors:
Bankers
Lloyds Bank PIC
Old Market Square
Nottingham
NGI 6FD
Page I

Frank Hodson Foundation Limited
Trustees, Report
The trustees, who are director5 for the purposes of company law. present the annual report together with the
financial statemenls and auditors, report of the Charitable company for the year ended 5 April 2024.
Referen¢e and administrative details
Reference and administrative details are shown in the schedule of member5 of the board and professional
advisors on page l of the financial statements.
Governing document
The charity is registered as a limited company with share capital, governed by its Memorandum and Articles of
Association.
Trustees
The trustees retire on a rotstional basis every three years. The trustees have a range of professional and business
skills and experience appropriate to the needs of the Foundation.
Full trustees, meetings are held al least six monthly with the day to day operations being delegated to sub groups
as appropiate.
New trustees are sought in the event of a cu￿ent trustee retiring and invited lo join the Trustee body if they can
fill any necessary professional skills gaps. New trustees are provided with a copy of the Memorandum and
Articles of Association, the latesi financial statements and the Charity Commission publication 'The E55ential
Trustee: What You Need to Know,. The trustees are en¢ouraged to undetake the appropaile training and are
giv¢n the opportunity to visit ihe Foundation's properties and meet the residents.
The company provides trustee indemnity insurance for all trnstees.
Risk review
The Trustees have assessed the major risks to which the charity 15 exposed, and are satl5fied thal Systems are in
place to mitigate exposure to those risks.
The effect of Covid-19 continues lo have an impact on the charity's income. As explained within the inv¢stmenl
policy, dividend income is expected to remain subdued in line with economic conditions but the Trustee5 are
confident that the re5erv¢s held by the charity are sufficient to enable its continued operations.
Objective5 And Aetivities
Under its Memorandum the Foundation is empowered to provide homes, hostels and other establishments to
care for the poor or sick. to promote healthcare and to give other assistance in cash or otherwise to such persons.
Rent fr¢¢ acwmmodation is provided for persons who are 60 and over, independent, but of limited means and
able to care for themselves.
Further assistance may be given to r¢sidenls by way of grants and other benefits.
The obj¢¢tiv¢s of the Foundation are within the Charity Commission's guidance on public benefit.
The ciimpany is managed by the trustees, three of whom have executive roles, lssisted by two welfare officers.
Fundraising disclosures
The charity does not carry out significant fundraising a¢tivities that require disclosure under the Charities Act
2011.
Page 2

Frank Hodson Foundation Limited
Trustees, Report
Public benefit
The trustee5 confirni that they have complied with the requiremen15 of section 4 of the Charities Act 201 I to
have due regard to the public benefit guidance published by the Charity Commission for England and Wale5.
Aehievements and performance
The rent free accommodation has remained full and there is a waiting list for most properties.
The welfare officers Continue to make regular visits to the beneficiaries and respond to their property needs and
provide support as appropriate.
Financial review
Th¢ foundation continue to spend substantial amounts on refurbishment of retained properties ewhen they
b¢¢ome vacant.
The net incomel (expenditure) for the year was £212.614 (2023-. £95,224). How¢v¢r. the current year includes a
gain on freehold land & buildings plus investment assets of £315,573 compared to gain of £95.325 in 2023.
Reserv¢$ policy
After deduction of fixed assets from total reserves there are free reserves of £711,412 (2023.. £291,281).
The trustees will review the level of reserves annually when approving (he annual accounts and five year plan.
Investment policy
There are no reslri¢tions on the Foundation's power to invest.
The trustees will deierniine the requirements of the Foundation in the short, medium and long tem.
It will make. change or maintain its investments in the light of these requirements and ihe advice of suitably
qualified advisors.
The investment in property and stock market investments will continue. The latter is in medium risk stocks and
shares with no individual holding excessive in relation to total investment.
The fair value of the charity's quoted investments has recovered some of the loss that was incurred in the
previous a¢¢ounting period and this is reflected in the financial statements as at 5th April 2024. As expected
dividend in¢om¢ has been reduced in this accounting period and is unlikely to recover to previous levels during
the next year.
Page 3

Frank Hodson Foundation Limited
Trustees, Report
Future developments
The Foundation continues to refresh it's property holding and is currently in the process of acquiring several
further properties, whilst continuing to seek appropriate properties to replace and expand the portfolio.
Disclosure of information to auditor
Each trustee ha5 taken steps that they ought to have taken as a trustee in order to make themselves aware of any
relevant audit inforniation and to establish that the Charity's auditor is aware of ihat inforniation. The trustees
onfimi that there is no relevant infonnation thai they know of and of which they know the auditor is unaware.
Small companies provision statement
This report has been prepared in accordance with the small companies regime under the Compani¢s Act 2006.
The annual report was approved by the trustees of the Charity on 17 October 2024 and signed on its behalf by:
J Ball FCA
Trustee
Page 4

Frank Hodson Foundation Limited
Statement of Trustees, Responsibilities
The trustees (who are also the directors of Frank Hodson Foundation Limil¢d for the purposes of company law)
are responsible for preparing the trustees, report and the financial statements in accordance with applicable law
and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice),
including FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland"
Company law require5 Ihe Irustees to prepare financial stai¢m¢nts for each financial year. Under company law
the trustees musl not approve the financial stat¢ments unless they are satisfied that they give a Irue and fair view
of the state of affairs of the charitable Company and of the incoming resources and application of resouroes,
including its income and expenditure, of the charitable company for that period. In preparing these financial
statements. the trustees are required to..
s¢l¢¢t suitable accounting polictes and apply them ¢on5iStently
observe the method5 and principles in the Charities SORP.
make judgements and estimates that are reasonable and prudent.
state whether applicable accounting standards, comprising FRS 102 have been followed, subject to any
material departure5 dis¢losed and explained in the finan¢ial statements. and
prepa￿ ihe financial statement5 on the going concern basis unless it is inappropriate to presume that the
¢haritable company will conlinue in business.
The trustees are responsible for keeping proper accounting records that can disclose with reasonable accuracy at
any lime Ihe financial position of the charitable company and enable them to ensure that the financial statements
comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable
¢ompany and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
The trnstees are responsible for the maintenance and integrity of the Corporate and financial infonnation
included on the charitable company's website. Legislation governing the preparation and disseminp4tion of
financial statements may differ from legislation in other jurisdictions.
Approved by the trustees of the Charity on 17 October 2024 and signed on its behalf by-
all FCA
Trustee
Page 5

Frank Hodson Foundation Limited
Independent Auditor's Report to the Members of Frank Hodson Foundation Limited
Opinion
We have audited the financial statement5 of Frank Hodson Foundation Limited (the 'Charity') for the year ended
5 April 2024, which Comprise the Statement of Financial Activities, Balance Sheel, and Notes to the Finan¢ial
Stalements, including a summary of significant accounting policies. The financial reporting framework that has
been applied in their preparation is United Kingdom Accounting Standards, comprising Charities SORP FRS
102 'The Financial Reporting Standard appli¢able in the UK and Republic of Ireland, and applicable law (United
Kingdom Generally Accepted Accounting Practice).
In our opinion the financial statements:
give a true and fair view of the state of the Charity's affairs as at 5 April 2024 and of it5 incoming resources
and application of resour¢e5, including its income and expenditure, for ihe year then ended.
have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice.
have been prepared in accordance with the requirements of the Companie5 Act 2006.
BASIS for opinion
We conducted our audil in accordance with International Standards on Auditing (UK) (ISAS (UK}) and
applicable law. Our responsibilities under those standard5 are further described in the auditor responsibilities for
the audil of the financial statements section of our report. We are independent of the Charity in accordance with
the ethical requirements that are relevant to our audit of ihe financial statements in the UK, including the FRC'S
Ethical St￿dard, and we have fulfilled our other ethical responsibilitie5 in accordance with these requirements.
We believe that the audit evidence we have obtained is sufficient and appropriate lo provide a basis for our
opinion.
Conclusions relating to going coneern
In auditing the financial statements, we have concluded that the trustees use of the going concern basis of
accounting in the preparation of the financial statements is appropriate.
Based on the work we have perfomed, we have not idenlified any material uncertainties relaling to events or
conditions thal, individually or collectively, may cast significant doubt on the Charity's ability to Continue as a
going concern for a period of at least twelve months from when the original financial slatements were authorised
for issue.
Our responsibilities and the responsibilities of the tnlstees with respect to going concern are described in the
relevant sections of this report.
Other information
The trustees are responsible for the other inforniation. The other infonnation comprises the information included
in the annual report, other than the financial stat¢m¢nls and our auditor's report thereon. Our opinion on the
financial statements does not cover the other inforn]ation and. excepl to the extent otherwise explicitly slated in
our report, we do not expre55 any fomi of assurance conclusion thereon.
In connection with our audit of the financial statements, our responsibility is to read the other infomation and,
in doing so, c()nsider whether the other infomiation is materially inconsislent with the financial statements or
our knowledge obtained in th¢ audit or otherwise appears to be malerially mi5Stated. If we identify such material
in¢onsisten¢i¢s or apparent material misstatements, we are required to d¢terniine whether there is a material
misstatement in the financial statements or a malerial tnisstatemcnt of thc other information. If, based on the
work we have perfornied. we conclude that there is a material misstatement of this other infomiation, we are
required to report that fact.
We have nothing to report in thi5 regard.
Page 6

Frank Hodson Foundation Limited
Independent Auditor's Report to the Members of Frank Hodson Foundation Limited
Opinion on other matter prescribed by the Companies Act 2006
In our opinion, based on ihe work undertaken in the course of ihe audit..
the information given in the Trust¢¢s' Report for the financial year for which the financial statements are
prepared is consistent with the financial statements. and
the Trustees, Report has been prepared in accordance with applicable legal requirements.
Matter5 OTh which we are required to report by exception
In the light of our knowledge and understanding of ihe Charity and its environment obtsined in the course of the
audit, we have nol identified material misstatements in the Trustees, Report.
We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to
report to you if. in our opinion:
adequate accounting record5 hav¢ not been kept, or returns adequate for our audil have not been received
from branches not visited by us. or
the financial slatements are not in agreement with the accounting records and returns. or
certain disclosures of trustees remuneration specified by law are not made: or
we have not received all the inforniation and explanations we require for our audit.
Responsibilities of trustees
As explained more fully in the Statement of Trustees, Responsibilities (set out on page 5), the trustees are
responsible for the preparation of the financial statements and for being satisfied that they give a true and fair
view, and for such internal control as the trustees detern) jne is necessary to enable the preparation of financial
statements that are free from material misstatement, whether due to fraud or error.
In preparing the financial statements, the mislees are responsible for assessing Ih¢ Charity's ability to continue
as a going concem, disclosing. as applicable, matters related to going concern and using the going concern basis
of accounting unless the trustees eith¢r intend to liquid&te the Charity or to cease operations, or have no realistic
alternative but to do so.
Auditor responsibilities for the audit of the financial statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free
from material misstatement, whether due to fraud or error. and to issue an auditor's report ihat includes our
opinion. Reasonable assurance is a high level of &8surance. but is not a guarantee that an audit condu¢ted in
accordance with ISAS (UK) will always detect a material misstatement when it exists. Misstatements can arise
from fraud or error and are considered material if, individually or in the aggregate, they could re&sonably be
expected to influence the economic decisions of users taken on the basis of these financial statements.
Extent to which the 8udit was CApable of detecting irregularities. including fraud
Irregularities. including fraud. are instances of non-compliance with laws and regulations. We design procedure5
in line with our responsibilities. outlined above, to detect material misstatements in respect of irregularities,
including fraud. The extent to which our procedures are capable of detecting itTegularitie5, including fraud is
detailed below:
Our audit procedure5 were designed to respond io risk5 of material misstalement in the financial statements,
recognising ihat the risk of not detecting a material misstalement due to fraud is higher than the risk of not
detecting one resulting from error, as fraud may involve deliberate concealment by, for example, forgery,
misrepresentations or through collusion. There are inhereni limitations in the audit procedures perfonned and
the further r¢mov¢d non-compliance with laws and r¢¥ulations is from th¢ cvenis and transactions rcflccted in
the financial stat¢m¢nts, the less likely we are to bewm¢ aware of it.
Page 7

Frank Hodson Foundation Limited
Independent Auditor's Report to the Members of Frank Hodson Foundation Limited
A ￿rther description of our responsibilities is available on the Financial Reporting Council's website al:
w.frc.org.uk/auditorsresponsibilities. This description forn)s part of our auditor's report.
As part of an audit in accordance wilh ISAS (UK). we exercise professional judgement and maintain
professional scepticism Ihroughout the audit. We also..
Identify and assess the risks of material mi5Statement of the financial statements, whether due to fraud or
error. design and perforni audit procedures responsive to those risks, and obtain audit evidence that 15
sufficient and appropriate to provide a basis for our opinion. The risk of not detecting a material
rnisslatement resulting from fraud is higher than for one resulting from error, as fraud may involve ¢ollu5ion,
forgery, intentional omissions. misrepresentations, or the override of inlernal control.
Obtain an understanding of internal Control relevant to the audit in order to design audit procedures that are
appropriate in the circumstances, bui not for the purpose of expressing an opinion on the effectiveness of the
Charity'¥ internal control.
Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and
related disclosures made by the trustees.
Conclude on the appropriateness of the trustees use of the going concern basis of accounting and, based on
the audit evidence obtained, whether a material uncertainty exists related to events or conditions that may
asl significant doubt on the Charity's ability to continue as a going concern. If we conclude that a material
uncertainty exists, we are required to draw attention in our audilor's report to the related disclosures in the
financial stateinents or, if such disclosures are inadequate, lo modify our opinion. Our Conclusions are based
on the audit evidence obtained up to the date of our auditor's report. However, future events or conditions
may cause the Charity to cease to continue as a going concern.
Evaluate the overall presenlation, slructure and content of ihe financial simtements, including the disclosures,
and whether the financial siatements represenl the widerlying transactions and event5 in a manner that
achieves fair presentalion.
Obtain suffi¢ieni appropriate audit evidence regarding the financial infomiation of the entities or business
aclivities within the Charity to express an opinion on the finanei&l statements. We are responsible for the
direction, supervision and perforniance of the Charity audit. We remain solely responsible for our audit
opinion.
We communicate with those charged with governance regarding, among other matter5, the planned scope and
timing of the audit and significant audit findings, including any significant deficiencies in internal control that
we identify during our audit.
Use of our report
This report is made solely to the charitable compoJ]y'S tNstees, a5 a body. in accordance with Chapter 3 of Part
16 of the Companies Act 2006. Our audit work has been undertaken so that we might State to the Charity's
trustees those matters we ar¢ required to state to them in an auditor's report and for no other purpose. To the
fullest extent pern)itted by law, we do not accepl or assume responsibility to anyone other than the charitable
company and its trustees as a body, for our audit work. for this report, or for the opinions we have fornled.
Page 8

Frank Hodson Foundation Limited
Independen
'tor's Report to the Members of Frank Hodson Foundation Limited
Neil Coupland
A {S¢nior Statutory Auditor)
For and on behalf of RWB CA Limited, Statutory Auditor
Northgate House
North Gate
New Basford
Nottingham
NG7 7BQ
17 October 2024
Page 9

Frank Hodson Foundation Limited
Statement of Financial Activities for the Year Ended 5 April 2024
(Including Income and Expenditure Account and Statement of Total Recognised Gains
and Losses)
Total
2024
Total
2023
Unrestricted
Note
Income xnd Endowments from:
Donations and legacies
Investment income
50.582
266,743
277,990
277,990
Total Income
277,990
277.990
317,325
Expenditure on:
Raising fund5
Charitable activities
(119,082)
(261,867)
(119,082)
(261,867)
{87,178)
230,248)
Total Expenditure
Gainsllosses on investment assets
(380,949)
315,573
(380.949)
315,573
(317.426)
95.325
Net income
212.614
212,614
95,224
Net movement in funds
212,614
212,614
95,224
Reconciliation of funds
Total funds brought forward
14,497.949
14,497.949
14,402,725
Total funds carried forward
21
14,710,563
14,710,56J
14,497,949
All of the Charity's activities derive from continuing operations during the above NTO periods.
The notes on pages 12 to 25 forni an integral part of these financial statements.
Pag¢ 10

Frank Hodson Foundation Limited
(Registration number: 00461376)
Balance Sheet as at S April 2024
2024
2023
Note
Fixed assets
Tangible assets
Investments
13
14
7,625,000
6,374,160
6,965.303
7,241,374
13,999.160
14.206.677
Current assets
Debtors
Cash at bank and in hand
15
16
11,645
723,337
25,722
285,739
734.982
311,461
Creditors: Amounts falling due within one year
17
(23,570)
(20,180)
Net current a$set$
711.412
291.281
Net assets
14,710,572
14,497.958
Funds of the Charity:
Unrestricted income funds
Callcd up share capital
Unrestricted
19
14,710,563
14,497,949
Total unrestricted funds
14,710.572
14,497,958
Total funds
21
14.710,572
14,497,958
The financial statements on
(ktober 2024
igned on
es 10 to 25 were approved by the t￿Slee5. and authorised for issue on 17
ehalf by-
eir
ence
stee
11 FCA
Trnstee
The notes on pages 12 to 25 forn) an integral part of these financial statements.
Pagell

Frank Hodson Foundation Limited
Notes to the Financial Statements for the Year Ended 5 April 2024
I Charity stAtus
The Charity is limited by share capital. incorporated in England & Wale5.
The address of its registered office is:
Northgate House
North Gate
New Basford
Nottingham
NG7 7BQ
These financial statements were authorised for issue by the Iruslees on 17 October 2024.
2 Accounting policies
SummAry of significant accounting policies and key accounting estimates
The principal accounting policies applied in the preparation of these financial slatements are set out below.
These policies have been consistenily applied to all the years presented. unles5 otherwise stated.
Statement of compliance
The financial statements have been prepared in accordance with Accounting and Reporting by Charities:
Sialement of Recommended Practice (applieable to charities preparing their accounts in accordance wilh the
Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)) (issued in October 2019)
(Charitie5 SORP (FRS 102}), the Financial Reporting Standard applicable in the UK and Republic of Ireland
(FRS 102) and the Companies Act 2006.
Basis of preparation
Frank Hodson Foundation Limited meets the definition of a public benefit entity under FRS 102. Assets and
liabilities are initially recogni5ed at hisiorical cost or transaction value unless otherwise stated in the relevant
accounting policy notes.
Goine concern
The trustees consider thal th¢re are no material uncertainties about the Chariry's ability to continue as a going
concern nor any signifi¢ant areas of uncertainty thal affect the carrying value of assets held by th¢ Charity.
Exemption from prep#ring a cash flow statement
The Charity Opied to early adopt Bulletin I published on 2 February 2016 and have therefore not included a cash
flow statement in these financial statements.
Income and endowments
All income is r¢¢ognis¢d once the Charity has entitlement to the income. it is probable that the income will be
r¢¢eived and the amount of the income receivable ¢an be measur¢d reliably.
Page 12

Frank Hodson Foundation Limited
Notes to the Financial Statements for the Year Ended 5 April 2024
Donations and legucies
Donations are reci)gnised when the Charity has been notified in writing of both the amount and settlement date.
In the event that a donation is subject to condilions that require a lev¢1 of perfom)ance by the Charity befor¢ the
Charity is entitled to the funds. the income is deferred and not recognised until either those conditions are fully
met, or the fulfilment of those conditions is wholly within the control of the Charity and it is probable that these
conditions will be fulfilled in the reporting period.
Deferred income
Deferred income represents rental amounts received for future periods and is released to incoming resources in
the period for whi¢h. it has been received.
Inveslment income
Dividends are recognised once the dividend has been declared and notification has been received of the dividend
due.
Other income
Rental in¢ome is recognised by the charity once it becomes entitled to the income based on the specific rental
agreements in place.
Expenditure
All expendilure is recognised once ihere is a leg21 or ConSt￿ctive obligation lo that expenditure, it is probable
settlement 15 required and the amount can be measured reliably. All costs are allocated to the applicable
expenditure heading that aggregate similar costs to that category. Where ¢osts cannot be direcily attributed to
particular headings they have been allocated on & basis consistenl with the use of resources. with central staff
osts allocated on the basis of time spent. and depreciation charges allocated on the portion of the asset's use.
Other support costs are allocated based on the spread of stsff costs.
Raisingfunds
These are cosls incu￿ed in attracting voluntary income. the management of investments and those inCu￿ed in
trading activitie5 that raise funds.
Charilable aelivilies
Charitable expenditure comprises those costs incurred by the Charity in the delivery of its activities and services
for ils beneficiaries. It includes both costs that can be allocated directly to such activities and those costs of an
indirect nature necessary to support them.
GovernaThce costs
These include the costs attributable to ihe Charity's compliance with constitutional and statutory requirements.
including audit, strategic management and irustees meeting5 and reimbursed expenses.
Taxation
The Charity is considered ¢0 pass the tests set out in Paragraph I Schedule 6 of the Finance Act 2010 and
therefore it meets the definition of a charitable company for UK corporation tax purposes. Accordingly, the
Charity 15 PQt¢ntially exempt from taxation in respe¢t of income or capital gains received within categories
covered by Chapter 3 Part I l of the Corporation Tax Ad 2010 or Section 256 of the Taxation of Chargeable
Gains Act 1992. to the extent that such income or gains are applied ¢xclusively to charitable purpos¢s.
Page 13

Frank Hodson Foundation Limited
Notes to the Financial Statements for the Year Ended 5 April 2024
Tangible fjxed assets
Freehold land and buildings is Ca￿led at fair value, derived from the current market prices for comparable real
estate detem)ined annually by internal valuers. The valuers use observable market prices, adjusted if necessary
for any difference in the nature, localion or condition of the specific asset. Changes in fair value are recognised
in the statement of financial activilie5.
Investment properties
Investment property is carried at fair value, derived from the current market prices for comparable real estate
detennined annually by internal valuers. The valuers use observable market prices, adjusted if necessary for any
difference in the nature. location or condition of the specific asset. Changes in fair value are recognised in the
statement of financial activities.
Fixed asset investments
Fixed asset investments, other than programme related investments. are included at market value at the balance
sheet date. Realised gains and losses on investments are calculaled as the difference between sales proceeds and
their market value at the start of the year, or their subsequ¢nt cost, and are charged or credited to the Ststement
of Financial Activities in the period of disposal.
Unrealised gains and losses represent the movement in market values during the year and are credited or
charged to the Statement of Financial Activities based on the market value al the year end.
Investments in subsidiaries and a5SOCiXtes are measured for at cost less impairnient. For investments in
subsidiarie5 acquired for consideration including the issue of shares qualifying for merger relief. cost is
measured by reference to the nominal value of the shares issued plus fair value of other consideration.
Trade debtors
Trade debtors are recognised initially al the Irdnsaetion price. A provision for the impaimient of trade debtors is
established when there is objective evidence that the charity will not be able to collect all amounts due
according to the original terms of the receivables.
Cgsh and cash equivalents
Cash and cash equivalents comprise cash on hand and call deposiis, and other 5hort-temi highly liquid
investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of
change itl value.
Trade creditors
Trade creditors are obligations to pay for goods or services thal have been acquired in the ordinary course of
business from suppliers. Accounts payable are classified as current liabilities if the charity does not have an
unconditional right, at the end of the reporting period. to defer settlement of the cr¢ditor for at least twelve
months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months
after the reporting date, they are presented as non-current liabilities.
Trade creditors are re¢ognised initially at the transaction price.
Fund structure
All funds held by the charity are unrestriced general funds that are available for use at the trustees's discretion in
rtherance of the objectives of the charity.
Page 14

Frank Hodson Foundation Limited
Notes to the Financial Statements for the Year Ended 5 April 2024
Pensions and other post retirement obligations
The Charity operate5 a defined contribution pension scheme which is a pension plan under which fixed
contributions are paid into a pension fund and the Charity has no legal or constructive obligation to pay further
contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to
employee service in the Cu￿ent and prior periods.
Contributions to defined contribution plans are recognised in the Statement of Financial Activilies when they are
due. If contribution payments exceed the contribution due for servi¢¢. the excess is recognised as 8 prepayment.
Financial instruments
Fair value measurement
The best evidence of fair value is a quoted price for an identical asset in an active market. When quoted prices
are unavailable, the price of a recent transaction for an identical asset provides evidence of fair value as long as
there has not been a significant change in economic circumstances or a significani lapse of time since the
transaction took place. If the market is not active and recent transactions of an identical asset on their own are
not a good estimate of fair value. the fair value is estimated by using a valuation technique.
3 Income from donations #nd legaeies
Total
2024
Total
2023
Donations and legacies;
Donations from individuals
50.582
50.582
Pagc 15

Frank Hodson Foundation Limited
Notes to the Financial Statements for the Year Ended 5 April 2024
4 Investment income
Unrestricted
funds
General
Total
2024
Total
2023
Interest receivable and similar income.
Other interest receivable
Other income from fixed asset investments
Income from rents
8,662
128,857
140,471
8,662
128.857
140,471
5,656
118,844
142,243
277,990
277,990
266,743
5 Expenditure on raising funds
a) Investment management costs
Unrestricted
Total
2024
Total
2023
General
Other investment management costs:
Stockbrokers portfolio management costs
Management fees and expenses
Propeity expenses.. Let
Trustee remuneration and expenses
24,508
1,910
79,124
13,540
24.508
1,910
79,124
13,540
25,434
953
50,492
10,299
119,082
119,082
87,178
6 Expenditure on charitable activities
Unrestricted
fund5
General
Totgl
2024
Total
2023
Welfare officers salaries
Welfare officers expenses
Property expense5= Rent free
Gifts to residents
Sundry expenses
Management fees and expenses
Trustee remuneration and expenses
42,180
5,227
150,328
2,300
965
9.549
36,680
42,180
5,227
150,328
2,300
965
9.549
36,680
41,887
4,086
114,270
2,280
,812
10,481
40,475
247,229
247,229
215,291
Page 16

Frank Hodson Foundation Limited
Notes to the Financial Statements for the Year Ended 5 April 2024
£247.229 (2023 £215.291) of the above expenditure was attributable to unrestricted funds and £Nil (2023
£Nil) to restricted fvnds.
In addition to the expendtture analysed above, there are also governance costs of £14,638 (2023 £14.957)
which relate directly to charitable activities. See note 7 for further details.
7 Analysis of governAnce and support costs
Governanee costs
Unrestric¢¢d
funds
General
Total
2024
Total
2023
Trustees remuneration and expenses
Wages and salaries
Social security costs
Other staff costs
Audit fees
Audit of the financial statements
Other fees paid to auditors
TNstees indemnity insurance
7.620
424
7,620
424
120
7,547
435
485
120
3.900
1,780
794
3.900
1,780
794
3.900
1.796
794
14,638
14,638
14,957
Page 17

Frank Hodson Foundation Limited
Notes to the Financial Statements for the Year Ended 5 April 2024
8 Net incomingloutgoing resources
Net outgoing resources for the year include:
2024
2023
Audit fees
3.900
3.900
9 Trustees remuneration and expenses
During the year the Charity made the following transactions with trustees..
S Perkins Bsc (Hons)
Management of the properties and welfare Services (payable to Simbec Properties LLP for his services) of
£11,131 (2023.. £10,774) and expenses reimbursed of £328 (2023: £659).
J Ball FCA
J Ball FCA received remun¢ration of £15,240 (2023.. £15,094) and £240 (2023.. £969) of expenses were
reimbursed to J Ball FCA during the year.
The remuneration wa5 for bookkeeping, accounting and secretarial services provided during the year.
A-M Price
A-M Price received remuneration of £37,242 (2023- £36.894) and £Nil (2023.. £465) of expenses were
reimbursed to A-M Price during the year.
The remuneration was for property management service5.
No tNst¢e5 have received any other benefits from the charity during the year.
Page 18

Frank Hodson Foundation Limited
Notes to the Financial Statements for the Year Ended 5 April 2024
10 Staff costs
The aggregate payroll costs were as follows-.
2024
2023
Staff costs during the yearwere:
Wages and salaries
Social security costs
Pension costs
Other staff costs
95.346
94,445
3,445
1.803
5,521
1,841
5.467
105.791
105,214
The monthly average number of persons (including senior management I leadership team) employed by the
Charity during the year expre55ed as full time equivalents was as follows:
2024
2023
Management of welfare and property
Welfare officers
Secretarial and accounting
3 (2023 - 3) of the above employees participated in the Defined Contribution Pension Schemes.
No employee received emoluments of more than £60.000 during the year.
I l Auditors, remuneration
2024
2023
Audit of the financial siatements
3,900
3.900
Other fees to auditors
All other non-audit services
1,780
1,796
12 Taxalion
The Charity is a registered charity and is therefore exempt from taxation.
Page 19

Frank Hodson Foundation Limited
Notes to the Financial Statements for the Year Ended 5 April 2024
13 Tangible fixed assets
Land and
buildings
Total
Cost
At 6 April 2023
Revaluations
Additions
Transfers tolfrom investment properties
6,965.303
35,555
350,809
273,333
6,965,303
35,555
350,809
273,333
At 5 April 2024
7,625,000
7.625.000
Depreciation
At 5 April 2024
Iyet book value
At 5 April 2024
7,625,000
7,625,000
At 5 April 2023
6.965.303
6,965,303
Page 20

Frank Hodson Foundation Limited
Notes to the Financial Statements for the Year Ended 5 April 2024
Revaluation
The fair value of the company's land and buildings wa5 revalued on 5 April 2024 by S Perkins. a trustee of the
company. An independent valuer was not involved.
Had this class of a55et been measured on a hislorical cost basis. their carrying amount would have been
£4,034,201 (2023 - £3.503.289).
14 Fixed asset investments
2024
2023
Investment properties
Shares in group undertakings and participating interests
(hher investments
2,530,000
3.275.000
3,844,153
3,966,368
6,374,160
7,241,374
Investment properties
Investment
properties
Cost or Valuation
At 6 April 2023
Revaluation
Disposals
Transfers tolfrom land and building5
3.275.000
70,000
(541.667)
(273,333)
At 5 April 2024
2,530,000
Provision
At 5 April 2024
Net book value
At 5 April 2024
2,530,000
At 5 April 2023
3,275,000
The investment properties are stated al market value as at 5 April 2024 as valued by S Perkins, a trustee of the
company.
The value of the freehold investments is £2,530,000 (2023.. £2.519.000) and long leasehold is £Nil (2023..
£650,000).
Page 21

Frank Hodson Foundation Limited
Notes to the Financial Statements for the Year Ended 5 April 2024
ShAres in group undertakings and participating interests
Subsidixry
undertakings
Total
Cost
At 6 April 2023
Additions
Disposals
(5)
(5)
At 5 April 2024
Net book value
At 5 April 2024
At 5 April 2023
Details of undertakings
Details of the investmen15 in which the Charity holds 20 % or more of the nominal value of any class of share
capital are as follow5=
Country of
incorporation
Proportion of voting rights Principal
4nd shares held
Activity
Undertaking
Holding
2024
2023
Associates
Furlong Court
(Management) Ltd
Field Fann Managment
Ltd
England and Wales Ordinary
220/0
Property
Management
Property
Management
1/0
England & Wales
Ordinary
43Q/o
Page 22

Frank Hodson Foundation Limited
Notes to the Financial Statements for the Year Ended 5 April 2024
Other investments
Listed
investmen¢s
Cash deposits
TotAI
Cost or V8luation
At 6 April 2023
Revaluation
Additions
Disposals
3,865,032
206,637
723,823
(1,038,189)
101,336
3,966.368
206,6)7
723,823
(14,486) (1,052,675)
At 5 April 2024
3,757,303
86.850
3,844.153
Iyet book value
At 5 April 2024
3,757,303
86,850
3.844,153
At 5 April 2023
3,865,032
101,336
3,966,368
The market value of the listed investments at 5 April 2024 was £3.757.303 (2023 - £3,865,032).
15 Debtors
2024
2023
Trade debtors
Prepayments
Other debtors
7.969
1,414
2.262
24,633
1.089
11.645
25,722
16 Cash and cash equivalents
2024
2023
Cash at bank
723,337
285.739
Page 23

Frank Hodson Foundation Limited
Notes to the Financial Statements for the Year Ended 5 April 2024
17 Creditors: amounts falling due within one year
2024
2023
Trade creditors
Other taxation and social security
Other creditor5
Accrua15
D¢ferred income
2,225
3,495
2,932
343
5,352
8,058
373
11,059
9.913
23.570
20.180
2024
2023
D¢f¢tTed income at 6 April 2023
Resources deferred in the period
Amounts released from previous periods
Deferred income at year end
8,058
9,913
(8,058)
5,665
8,058
5,665)
9,913
8,058
18 Pension and other schemes
Defined contribution pension scheme
The Charity operates a defined contribution pension scheme. The pension cost charge for the year represents
contributions payable by the Charity to the scheme and amounted to £1,841 (2023 - £1,803).
19 Share capital
Allotted, Called up and fully paid shares
2024
2023
Ordinary of £1 each
20 Commitments
Capital commitments
Investment property additions
Thc total amount ¢ontracted for but not provided in the financial statements wa5 £846,432 (2023 - £286.552).
Page 24

Frank Hodson Foundation Limited
Notes to the Financial Statements for the Year Ended 5 April 2024
21 Funds
Other
recognised
Balance at 5
gains/{losses) April 2024
Balance gt 6
April 2023
Incoming
resources
Resources
expended
Unrestrieted
General
14.497.949
277,990
(369.997)
304,621
14,710,563
Included in unrestricted funds is a revaluation reserve of £4.869.757 (2023.. £4,838,861).
22 Analysis of net *ss¢ts between funds
Unrestricted
funds
General
Total fund$ at
5 April
2024
Tangible fixed assets
Fixed asset investments
Current assets
Cu￿ent liabilities
7,351,667
6,647,493
734,982
{23.570)
7,351,667
6,647,493
734,982
(23,570)
Total net assets
14,710,572
14.710,572
23 Related party transaetions
During the year the Charity made the following relaled party transaction5-
Taylor Rose
(A J Belf5eld is a consultant solicitor of this firn.)
During the year Taylor Rose provided services of £8.714 (2023.. £5.925) to the company. At the balance sheet
date the amount due to/from Taylor Rose was £Nil (2023 - £Nil).
Field Farm Management Lld
(Subsidiary of the company.)
At the balance sheei dat¢ the amount due from Field Fam Management Ltd wa5 £763 (2023 - £Nil).
Page 25