2025-04-05-accounts

Company registration 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 2025

TAG Assurance Services Limited 8 Pendeford Place Pendeford Business Park Wolverhampton West Midlands WV9 5HD

Frank Hodson Foundation Limited

Contents

Reference and Administrative Details	1
Trustees' Report	2 to4
Statement ofTrustees' Responsibilities	5
Independent Auditors’ Report	6 to9
Statement ofFinancial Activities	10
Balance Sheet	11
NotestotheFinancialStatements	12to25

Frank Hodson Foundation Limited

Reference and Administrative Details	Reference and Administrative Details
Trustees	JA Lawrence
	J Ball FCA
	S Perkins BSc (Hons)
	R H Pascual MRICS
	A J Belfield
	JR Ball
	A P Kingswood
	A-M Price
	S Snaith
Secretary	J BallFCA
Charity Registration Number	213320
Company Registration Number	00461376
	The Charity is incorporated in England& Wales.
Registered Office	Northgate House
	North Gate
	New Basford
	Nottingham
	NG7 7BQ
Auditor	TAG Assurance Services Limited
	8 Pendeford Place
	Pendeford Business Park
	Wolverhampton
	West Midlands
	WV9 5SHD
Solicitors:	Taylor Rose
	69 Carter Lane
	London
	EC4V 5EQ
Bankers	Lloyds Bank Plc
	Old Market Square
	Nottingham
	NGI16FD

Page 1

Frank Hodson Foundation Limited

Trustees' Report

The trustees, who are directors for the purposes of company law, present the annual report together with the financial statements and auditors' report of the charitable company for the year ended 5 April 2025.

Reference and administrative details

Reference and administrative details are shown in the schedule of members of the board and professional advisors on page | 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 rotational 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 at 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 current trustee retiring and invited to 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 latest financial statements and the Charity Commission publication 'The Essential Trustee: What You Need to Know’. The trustees are encouraged to undetake the appropaite training and are given the opportunity to visit the Foundation's properties and meet the residents.

The company provides trustee indemnity insurance for all trustees.

Risk review

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 those risks.

The effect of Covid-19 continues to have an impact on the charity's income. As explained within the investment policy, dividend income is expected to remain subdued in line with economic conditions but the Trustees are confident that the reserves held by the charity are sufficient to enable its continued operations.

Objectives and activities

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 free accommodation is provided for persons who are 55 and over, independent, but of limited means and able to care for themselves.

Further assistance may be given to residents by way of grants and other benefits.

The objectives of the Foundation are within the Charity Commission’s guidance on public benefit.

The company is managed by the trustees, three of whom have executive roles, assisted by two welfare officers.

Fundraising disclosures

The charity does not carry out significant fundraising activities that require disclosure under the Charities Act 2011.

Page 2

Frank Hodson Foundation Limited

Trustees' Report

Public benefit

The trustees confirm that they have complied with the requirements of section 4 of the Charities Act 2011 to have due regard to the public benefit guidance published by the Charity Commission for England and Wales.

Achievements 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

The foundation continue to spend substantial amounts on refurbishment of retained properties when they become vacant.

The net income/ (expenditure) for the year was (£57,994) (2024: £212,614). However, the current year includes a gain on freehold land & buildings plus investment assets of £7,850 compared to gain of £315,573 in 2024.

Reserves policy

After deduction of fixed assets from total reserves there are free reserves of £349,824 (2024: £711,412).

The trustees will review the level of reserves annually when approving the annual accounts and five year plan.

Investment policy

There are no restrictions on the Foundation's power to invest.

The trustees will determine the requirements of the Foundation in the short, medium and long term.

It will make, change or maintain its investments in the light of these requirements and the 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 accounting period and this is reflected in the financial statements as at 5th April 2025. As expected dividend income 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 has taken steps that they ought to have taken as a trustee in order to make themselves aware of any relevant audit information and to establish that the Charity's auditor is aware of that information. The trustees confirm that there is no relevant information that 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 Companies Act 2006.

The annual report was approved by the trustees of the Charity on 7 October 2025 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 Limited 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 requires the trustees to prepare financial statements for each financial year. Under company law the trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources, including its income and expenditure, of the charitable company for that period. In preparing these financial statements, the trustees are required to:

• ¢ select suitable accounting policies and apply them consistently;

• observe the methods 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 departures disclosed and explained in the financial statements; and

• prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitable company will continue in business.

The trustees are responsible for keeping proper accounting records that can disclose with reasonable accuracy at any time the 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 company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

The trustees are responsible for the maintenance and integrity of the corporate and financial information included on the charitable company's website. Legislation governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.

Approved by the trustees of the Charity on 7 October 2025 and signed on its behalf by:

J Ball 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 statements of Frank Hodson Foundation Limited (the 'Charity') for the year ended 5 April 2025, which comprise the Statement of Financial Activities, Balance Sheet, and Notes to the Financial Statements, 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 applicable 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 ofthe state of the Charity's affairs as at 5 April 2025 and of its incoming resources and application of resources, including its income and expenditure, for the year then ended;

• ¢ have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and

• ¢ have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the auditor responsibilities for the audit 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 the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

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 performed, we have not identified any material uncertainties relating to events or conditions that, 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][statements][were][authorised] for issue.

Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of[this][report.]

Other information

The trustees are responsible for the other information. The other information comprises the information included in the annual report, other than the financial statements and our auditor’s report thereon. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the financial statements or a material misstatement of the other information. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

We have nothing to report in this 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 the work undertaken in the course of the audit:

• ¢ the information given in the Trustees' 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.

Matters on which we are required to report by exception In the light of our knowledge and understanding ofthe Charity and its environment obtained in the course of[the] audit, we have not 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 records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or

• ¢ the financial statements 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 information 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 determine 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 trustees are responsible for assessing the Charity's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate 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 that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted 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 reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

Extent to which the audit was capable of detecting irregularities, including fraud

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures 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 irregularities, including fraud is detailed below:

Our audit procedures were designed to respond to risks of material misstatement in the financial statements, recognising that the risk of not detecting a material misstatement 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 inherent limitations in the audit procedures performed and the further removed non-compliance with laws and regulations is from the events and transactions reflected in the financial statements, the less likely we are to become aware of it.

Page 7

Frank Hodson Foundation Limited

Independent Auditor's Report to the Members of Frank Hodson Foundation Limited

A further description of our responsibilities is available on the Financial Reporting Council’s website at: www. frc.org.uk/auditorsresponsibilities. This description forms part of our auditor’s report.

As part of an audit in accordance with ISAs (UK), we exercise professional judgement and maintain professional scepticism throughout the audit. We also:

• ¢ Identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of[internal][control.]

• ¢ Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of[the] Charity’s 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 cast 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 auditor’s report to the related disclosures in the financial statements or, if such disclosures are inadequate, to 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 presentation, structure and content of[the][financial][statements,][including][the][disclosures,] and whether the financial statements represent the underlying transactions and events in a manner that achieves fair presentation.

• ¢ Obtain sufficient appropriate audit evidence regarding the financial information of the entities or business activities within the Charity to express an opinion on the financial statements. We are responsible for the direction, supervision and performance of the Charity audit. We remain solely responsible for our audit opinion.

We communicate with those charged with governance regarding, among other matters, 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 company's trustees, as 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 are required to state to them in an auditor’s report and for no other purpose. To the fullest extent permitted by law, we do not accept 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 formed.

Page 8

Frank Hodson Foundation Limited

Independent Auditor's Report to the Members of Frank Hodson Foundation Limited

Sey Statutory Auditor)

For and on behalf of TAG Assurance Services Limited, Statutory Auditor

8 Pendeford Place

Pendeford Business Park Wolverhampton West Midlands WV9 5HD

7 October 2025

Page 9

Frank Hodson Foundation Limited

(IncludingStatement of Financial Activities for the Year Ended 5 April 2025 Income and Expenditure Account and Statement of Total Recognised Gains and Losses)

.

==> picture [417 x 236] intentionally omitted <==

----- Start of picture text -----
|||||||| |---|---|---|---|---|---|---| |Unrestricted|Total|Total| |Note|£|2025£|2024£| |Income|and|Endowments|from:| |Investment|income|3|293,066|293,066|277,990| |Total Income|293,066|293,066|277,990| |Expenditure|on:| |Raising funds|4|(97,978)|(97,978)|(119,082)| |Charitable activities|5|(260,932)|(260,932)|(261,867)| |Total Expenditure|(358,910)|(358,910)|(380,949)| |Gains/losses|on|investment assets|7,850|7,850|:|315,573| |Net (expenditure)/income|(57,994)|(57,994)|212,614| |Net movement|in funds|(57,994)|(57,994)|212,614| |Reconciliation|of funds| |Total funds|brought forward|14,710,563|14,710,563|14,497,949| |Total|funds carried|forward|20|14,652,569|14,652,569|14,710,563|

----- End of picture text -----

All of the Charity's activities derive from continuing operations during the above two periods.

The notes on pages 12 to 25 form an integral part of these financial statements. Page 10

Frank Hodson Foundation Limited

(Registration number: 00461376) Balance Sheet as at 5 April 2025

		2025	2024
	Note	£	£
Fixed assets
Tangible assets	12	7,265,000	7,625,000
Investments	13	7,037,754	6,374,160
		14,302,754	13,999,160
Current assets
Debtors	14	52,660	11,645
Cash at bank and in hand	15	318,833	723,337
		371,493	734,982
Creditors: Amounts falling duewithin oneyear	16	(21,669)	(23,570)
Net current assets		349,824	711,412
Net assets		14,652,578	14,710,572
Funds ofthe Charity:
Unrestricted income funds
Called up share capital	18	9	9
Unrestricted		14,652,569	14,710,563
Total unrestricted funds		14,652,578	14,710,572
Totalfunds	20	14,652,578	14,710,572

Total funds

The financi ents on pages 10 to 25 were approved by the trustees, and authorised for issue on 7 October 2025 andSigned on their beha :

==> picture [189 x 84] intentionally omitted <==

----- Start of picture text -----
J A Lawrence
Trustee =
J Ball FCA
Trustee
----- End of picture text -----

The notes on pages 12 to 25 form an integral part of these financial statements. Page 11

Frank Hodson Foundation Limited

Notes to the Financial Statements for the Year Ended 5 April 2025

1. Charity status

The Charity is limited by share capital, incorporated in England & Wales.

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 trustees on 7 October 2025.

2 Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice (applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)) (issued in October 2019) - (Charities 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 recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy notes.

Going concern

The trustees consider that there are no material uncertainties about the Charity's ability to continue as a going concern nor any significant areas of uncertainty that affect the carrying value of assets held by the Charity.

Exemption from preparing a cash flow statement

The Charity opted to early adopt Bulletin | published on 2 February 2016 and have therefore not included a cash flow statement in these financial statements.

Income and endowments

Deferred income

Deferred income represents rental amounts received for future periods and is released to incoming resources in the period for which, it has been received.

Page 12

Frank Hodson Foundation Limited

Notes to the Financial Statements for the Year Ended 5 April 2025

Investment income

Dividends are recognised once the dividend has been declared and notification has been received of[the][dividend] due.

Other income

Rental income is recognised by the charity once it becomes entitled to the income based on the specific rental agreements in place.

Expenditure

All expenditure is recognised once there is a legal or constructive obligation to that expenditure, it is probable settlement is 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 costs cannot be directly attributed to particular headings they have been allocated on a basis consistent with the use of resources, with central staff costs 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 staff costs.

Raising funds

These are costs incurred in attracting voluntary income, the management of investments and those incurred in trading activities that raise funds.

Charitable activities

Charitable expenditure comprises those costs incurred by the Charity in the delivery of its activities and services for its beneficiaries. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them.

Governance costs

These include the costs attributable to the Charity’s compliance with constitutional and statutory requirements, including audit, strategic management and trustees meetings and reimbursed expenses.

Taxation

The Charity is considered to pass the tests set out in Paragraph 1 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 is potentially exempt from taxation in respect of income or capital gains received within categories covered by Chapter 3 Part 11 of the Corporation Tax Act 2010 or Section 256 of the Taxation of Chargeable Gains Act 1992, to the extent that such income or gains are applied exclusively to charitable purposes.

Tangible fixed assets

Freehold land and buildings is carried at fair value, derived from the current market prices for comparable real estate determined 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.

Investment properties

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined 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.

Page 13

Frank Hodson Foundation Limited

Notes to the Financial Statements for the Year Ended 5 April 2025

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 calculated as the difference between sales proceeds and their market value at the start of the year, or their subsequent cost, and are charged or credited to the Statement 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 at the year end.

Investments in subsidiaries and associates are measured for at cost less impairment. For investments in subsidiaries 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 at the transaction price. A provision for the impairment 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.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade creditors

Trade creditors are obligations to pay for goods or services that 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 creditor 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 recognised 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 furtherance ofthe objectives of[the][charity.]

Pensions and other post retirement obligations

The Charity operates 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 current and prior periods.

Contributions to defined contribution plans are recognised in the Statement of Financial Activities when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

Page 14

Frank Hodson Foundation Limited

Notes to the Financial Statements for the Year Ended 5 April 2025

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 ofa 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 significant 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.

Page 15

Frank Hodson Foundation Limited

Notes to the Financial Statements for the Year Ended 5 April 2025

3 Investment income

	Unrestricted
	funds	Total	Total
	General	2025	2024
	£	£	£
Interest receivable and similar income;
Other interest receivable	6,151	6,151	8,662
Other income from fixed asset investments	110,655	110,655	128,857
Income from rents	176,260	176,260	140,471
	293,066	293,066	277,990

4 Expenditure on raising funds

a) Investment management costs

Unrestricted

	Unrestricted
		Total	Total
	General	2025	2024
	£	£	£,
Other investment management costs;
Stockbrokers portfolio management costs	23,192	23,192	24,508
Management fees and expenses	1,953	1,953	1,910
Property expenses: Let	58,460	58,460	79,124
Trustee remuneration and expenses	14,373	14,373	13,540
	97,978	97,978	119,082

5 Expenditure on charitable activities

	Unrestricted
	funds	Total	Total
	General	2025	2024
	£	£	£
Welfare officers salaries	44,577	44,577	42,180
Welfare officers expenses	4,741	4,74]	5,227
Property expenses: Rent free	142,893	142,893	150,328
Gifts to residents	2,590	2,590	2,300
Sundry expenses	2,045	2,045	965
Management fees and expenses	9,765	9,765	9,549
Trustee remuneration and expenses	38,473	38,473	36,680
	245,084	245,084	247,229

Page 16

Frank Hodson Foundation Limited

Notes to the Financial Statements for the Year Ended 5 April 2025

£245,084 (2024 - £247,229) of the above expenditure was attributable to unrestricted funds and £Nil (2024 - £Nil) to restricted funds.

In addition to the expenditure analysed above, there are also governance costs of £15,848 (2024 - £14,638) which relate directly to charitable activities. See note 6 for further details.

6 Analysis of governance and support costs

Governance costs

	Unrestricted
	funds	Total	Total
	General	2025	2024
	£	£	£
Trustees remuneration and expenses
Wages and salaries	7,983	7,983	7,620
Social security costs	474	474	424
Other staffcosts	315	315	120
Audit fees
Audit ofthe financial statements	4,080	4,080	3,900
Other fees paid to auditors	-	-	1,780
Accountancy fees	2,148	2,148	-
Trustees indemnity insurance	848	848	794
	15,848	15,848	14,638

Page 17

Frank Hodson Foundation Limited

Notes to the Financial Statements for the Year Ended 5 April 2025

7 Net incoming/outgoing resources

Net outgoing resources for the year include:

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||||| |---|---|---|---| |2025|2024| |£|£| |Audit|fees|4,080|3,900|

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8 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 £11,530 (2024: £11,131) and expenses reimbursed of £188 (2024: £328).

J Ball FCA

J Ball FCA received remuneration of £15,966 (2024: £15,240) and £631 (2024: £240) of expenses were reimbursed to J Ball FCA during the year.

The remuneration was for bookkeeping, accounting and secretarial services provided during the year.

A-M Price

A-M Price received remuneration of £39,024 (2024: £37,242) and £Nil (2024: ENil) of expenses were reimbursed to A-M Price during the year.

The remuneration was for property management services.

No trustees 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 2025

9 Staff costs

The aggregate payroll costs were as follows:

The aggregate payroll costs were as follows:
	2025	2024
	£	£
Staffcosts during the year were:
Wages and salaries	99,906	95,346
Social security costs	3,766	3,137
Pension costs	1,956	1,841
Other staffcosts	5,308	5,467
	110,936	105,791

The monthly average number of persons (including senior management / leadership team) employed by the Charity during the year expressed as full time equivalents was as follows:

	2025	2024
	No	No
Management ofwelfare and property	2	2
Welfare officers	2	2
Secretarial and accounting
	eo

3 (2024 - 3) of the above employees participated in the Defined Contribution Pension Schemes.

No employee received emoluments of more than £60,000 during the year.

10 Auditors' remuneration

	2025	2024
	£	£
Audit ofthe financial statements	4,080	3,900
Other fees to auditors
Allothernon-auditservices	-	1,780

11 Taxation

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 2025

12 Tangible fixed assets

12 Tangible fixed assets
	Land and
	buildings	Total
	£	£
Cost
At 6 April 2024	7,625,000	7,625,000
Revaluations	65,502	65,502
Additions	24,498	24,498
Disposals	(450,000)	(450,000)
At 5 April 2025	7,265,000	7,265,000
Depreciation
At 5 April 2025	-	-
Net book value
At 5 April 2025	7,265,000	7,265,000
At5April2024	7,625,000	7,625,000

Page 20

Frank Hodson Foundation Limited

Notes to the Financial Statements for the Year Ended 5 April 2025

Revaluation

The fair value of the company's Land and buildings was revalued on 5 April 2025 by S Perkins, a trustee of[the] company. An independent valuer was not involved. Had this class of asset been measured on a historical cost basis, their carrying amount would have been £3,981,138 (2024 - £4,034,201).

13 Fixed asset investments

	2025	2024
	£	£
Investment properties	3,580,000	2,530,000
Shares in group undertakings and participating interests	7	7
Other investments	3,457,747	3,844,153
	7,037,754	6,374,160

Investment properties

Investment properties
	Investment
	properties
	£
Cost or Valuation
At 6 April 2024	2,530,000
Revaluation	62,556
Additions	987,444
At 5 April 2025	3,580,000
Provision
At 5 April 2025	je
Net book value
At 5 April 2025	3,580,000
At5April2024	2,530,000

The investment properties are stated at market value as at 5 April 2025 as valued by S Perkins, a trustee of the company.

The value ofthe[freehold][investments][is][£3,580,000][(2024:][£2,530,000)][and][long][leasehold][is][£Nil][(2024:][£Nil).]

Page 21

Frank Hodson Foundation Limited

Notes to the Financial Statements for the Year Ended 5 April 2025

Shares in group undertakings and participating interests

==> picture [429 x 336] intentionally omitted <==

----- Start of picture text -----
|||||||||||||||||| |---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---| |Subsidiary| |undertakings|Total| |£|£| |Cost| |At|6|April|2024|7|7| |At|5|April|2025|L|7| |Net|book|value| |At|5|April|2025|7|7| |At|5|April|2024|7|7| |Details|of undertakings| |Details|of the the|investments|in|which|the|Charity|holds|20%|or|more|of the the|nominal|value|of any any|class|of share share| |capital|are|as|follows:| |Country|of|Proportion|of voting|rights|Principal| |Undertaking|incorporation|Holding|and|shares|held|activity| |2025|2024| |Associates| |Furlong|Court|:|3|5|Property| |(Management)|Lid|England|and Wales|Ordinary|1%|1%|Sinagemient| |Field|Farm|Managment|:|"|"|Property| |Ltd|England & Wales|Ordinary|43%|43%|Management|

----- End of picture text -----

Details of the the investments in which the Charity holds 20% or more of the the nominal value of any any class of share share capital are as follows:

Page 22

Frank Hodson Foundation Limited

Notes to the Financial Statements for the Year Ended 5 April 2025

Other investments

	Listed
	investments	Cash deposits	Total
	£	£	£
Cost or Valuation
At 6 April 2024	3,757,303	86,850	3,844,153
Revaluation	(146,733)	-	(146,733)
Additions	701,990	-	701,990
Disposals	(889,870)	(51,793)	(941,663)
At 5 April 2025	3,422,690	35,057	3,457,747
Net book value
At 5 April 2025	3,422,690	35,057	3,457,747
At5April2024	3,757,303	86,850	3,844,153

The market valueofthe listed investments at 5 April 2025 was £3,422,690 (2024 - £3,757,303).

14 Debtors
	2025	2024
	£	£
Trade debtors	50,626	7,969
Prepayments	903	1,414
Other debtors	1,131	2,262
	52,660	11,645
15 Cash and cash equivalents
	2025	2024
	£	£
Cashatbank	318,833	723,337

Page 23

Frank Hodson Foundation Limited

Notes to the Financial Statements for the Year Ended 5 April 2025

16 Creditors: amounts falling due within one year

	2025	2024
	£	£
Trade creditors	2,090	2,225
Other creditors	388	373
Accruals	11,162	11,059
Deferred income	8,029	9,913
	21,669	23,570
	2025	2024
	£	£
Deferred income at 6 April 2024	9,913	8,058
Resources deferred in the period	8,029	9,913
Amounts released from previous periods	(9,913)	(8,058)
Deferredincomeatyearend	8,029	9,913

17 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 £1,956 (2024 - £1,841).

18 Share capital

Allotted, called up and fully paid shares

==> picture [426 x 47] intentionally omitted <==

----- Start of picture text -----
2025 2024
No. £ No. £
Ordinary of£1 each 9 9 9 9
----- End of picture text -----

19 Commitments

Capital commitments

Investment property additions

The total amount contracted for but not provided in the financial statements was £Nil (2024 - £846,432).

Page 24

Frank Hodson Foundation Limited

Notes to the Financial Statements for the Year Ended 5 April 2025

20 Funds

				Other
	Balance at 6	Incoming	Resources	recognised	Balance at 5
	April 2024	resources	expended	gains/(losses)	April 2025
	£	£	£	£	£
Unrestricted
General	14,710,563	293,066	(358,910)	7,850	14,652,569

Included in unrestricted funds is a revaluation reserve of £4,384,054 (2024: £4,869,755).

21 Analysis of net assets between funds

21 Analysis of netnet assets between funds
	Unrestricted	Total funds at
	funds	5 April
	General	2025
	£	£
Tangible fixed assets	7,265,000	7,265,000
Fixed asset investments	7,037,754	7,037,754
Current assets	371,493	371,493
Current liabilities	(21,669)	(21,669)
Totalnetassets	14,652,578	14,652,578

22 Related party transactions

During the year the Charity made the following related party transactions:

Field Farm Management Ltd

(Subsidiary of the company.)

At the balance sheet date the amount due from Field Farm Management Ltd was £763 (2024 - £763).

Taylor Rose

(A J Belfield is a consultant solicitor of[this][firm.)]

During the year Taylor Rose provided services of £6,042 ((2024: £8,714) to the company. At the balance sheet date the amount due to/from Taylor Rose was £Nil (2024 - £Nil).

Page 25