Item 5. Appendix I REGISTEREDCHARITY NUMBER: 213327 REPORT OF THE TRUSTEES AND UNAUDITED FINANCIALSTATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 FOR WALTHAM ABBF.Y NON-F.Dllf.ATI C.HARI'fiES NAL PAROCHIAL WALTHAM ABBEY NON-CI DUCATI ALPAR CHIALCHARITI , COTrITEN"rs OF THE filNANCIAL sfATEMC4 NTS for Ilie Yt41' Enile 31D ember 2024 Page Retmiit of Ihe'fruslees In(lepen(lent Examiner's RepuTI SILiieinerti ofFinan¢ial Activili¢s Balantt. Sheet SialLment ofcash flows Noles lo Ihe FIn￿Lia[ St4i¢tnent5 8- 15 WALTHAM ABBEY NON-EDUCA'fioNAL PAROCHIAL C14ARITIF.S REFERENCE AND ADMINISTRATIVE DETAILS Registrations Almslious¢ As&ocidlion Numbei. 1791 Chgrily Comtlli5sion Number 213327 PrincipAI Offite Franeiq Cjreene Hous¢ Grove C(Jui't Waiiham Abbey Essex EN9 IBP Trtsstets JLaw l. Anderson N Page P H Siniih S J Coll¢y A Caiy Chair Walihain Abbey Town Clerk Appointed 05 Novembet 2024 Resigned 08 October 2024 MRnAgipg Ageiils Hun'i5un Hou5in& 46 Si James's Ciardens London Wl14RQ A Robson-young FCCA J Grinham Chict'F.xccutivc IfroTn May 20241 Financ¢ Manager Ind¢p¢hdtnt Examlner Jan Rickl¢r FCA Alivyns l.l.P Chartered Ac¢(>unwi Croivii Fl(Jus¢ 151 14igh IIDad Loughiun Essex Icylo 41.G BAiiker5 FI%B(" ljank 45 High S¢r¢¢t HIKidesdo H¢i11oTdshii ENI 18TA PaBe I WA Tll IICI Y NON-EDUC.ATIONAL PAROCHIAL CHARITIE RkPOIIT or TFIE TRUSTEES the Yexr Endtil 31 December 2 I'he'l'riisiLLI l)fLSL'iiI IhLir annu￿1 r¢poiq along with the linanLial Sldiemenis ol'ihe charity for tli¢ year ended 31 DeLember 2024. The IEpori includL% deiailE of th05c activitics undcrtakcn by the cliarity lo fuyihei. 115 ¢hai'itable piiipo8cs for IhL public benelit. They have also ioinplied wilh the duly in the Chai'ilie5 Act 201110 have reLTJrd lo public benefit giiidancc published by the C.ommis5ion. CoNSI'fi'u'i ION, CIIARrrABLb OWECTS AND AcfJviTIES Waltham Abbey Non-F.ducational Parochial Lharilies {"IheChaiity"I wase%lahlished in 1894 as Walihdm Abb¢y Parocliial Charities under d sihenie ol'ihe Ch*trity CumtlliS5ion¢rs. Tlie Scheme wfjs vuri¢d in 1912 and rcgistered iviih Ihc Charity Commi8sion on 17 Januaiy 11)C)3 undcr ils PTes¢nl Dame. Ihe Lliai'ily compri5cs 16 ci)nsliluenl charilthes. including Gi'een's Almshous￿, which wos originally esiablished in 1626 by Franets Greene. PuTV¢yQT lo King James The primury purposc of the Chaiity is ¢a provsde accoinmodaiion to POOT persons of gix)d char4¢teT. The Char￿ty provtd¢s I I Im8houses built in 1992 known &s FTancis Grcene FIou8e in Waltham Abbey lo fulfill il% purt)05e. CuvciiNANC.F. ANn MANAGEMENT ARRANC.KMENTS Admini%iralioii ol. Ilic Ch￿'Ity is cari'ied out by up 10 10 Irus1¢¢51 appointed as follows.. lil Tliree e.¥-ollicio Tiwstees. beingihe Re¢ior ofthe Parish Chuirh ofih¢ l.loly Cr08s and St. l*awTence Waliham Abbey* iheTown Clerk i)l-Walilioin Abbey and a mini%ter or repirseniaiivc of"ChurLh¢s Togeiher- &n Wdliham Abbcy: {iil Fiv¢ R¢preseniativc Ti'usiees appointed by the Walihatn Ahbcy l Dwn Council. Each appoiiiimLni beingy for a ieim of4 yeer& (iiil-fivo Co-opiaiive T1￿$tee5, bring pei'sons residing or cai'rying on busin¢55 in or ncar iht Parith of Walih&m Holy Cross appoiiiicd Ioi. ieTtn of 5 y¢&rs by a resoltstion of the'l riisltts. Ilpon a Vli￿nCY ai'isin& efforts are made 10 appoint a neiv Iriisiee iviih relevant ski118 and i)ackgiY)und. haviDg Tegard lo the aclivitics of the chariiy and Ihc necd io mllinlain u diver.%ity of skills atnong ihe Iruslee$. The￿ is no fomial induclion oi. iraining but the existing Ii-usle¢s seek lo ensiire ihai all Iru51ees are awar¢ of Ihcir duties and are equipped iviih Ihc knoivledge lo catty them out. The Iru51L¢s i¥ho served durtng the ycar ended 31 Decembei. 2024 4Lir Shown on page l of this repurl, ￿ well as any changes in Iru5le¢s allLr Ihc yeur end. Usually. IhLk Iru%I¢¢s meet quarterly ¢0 makedecision% of ￿l1¢Y and allncaiions, monilorpcrfDrmance, manage i'isk, T¥c¢ive accounis. and approvc Ihc l)udgel and dny si8nificanl expendilui'¢. Day-to-day manJgemcnt is delegated lo the managing agent. Flarrison Housink. R¢prescnlaiives ()f the managing agtnl attend Ineelings ofiru51¢es but have tm) voliTrg I'ighls. The use ota managing figEnt cnables Ilie Cliai'ii). 10 benefit from ptx)febsivnal management, PURPOSE, OWECTIVESAND ACTIVITIES FOR THC PUBLIC BENCifiT The Trti%lecs liave con8id¢rcd the Chai'ity Cotllmi55ion gluid￿¢¢ un public benefjl considcr th41 the activitie8 of the chai'ity meet ils Lharilul)l¢ objecls and provide & bcnefii its the public. AcliJEI,L￿lF.ryT￿AN￿ FUTURE PLANS Incoine Irom ve%idenls' contribuiiuns for accommodation iv8s f In9,97512023.. £101,522). 1.11¢ Weekly Mainlenanee Contributions arc rcviL'IVLd ic nniially hy the I'ru51¢es with new rates dkwlied fiDtn l OciobeT each ycar, in 2024 this was 7.7Yo. The Charity ocLupanL)' I'aie s 910/y in 2024 (2023.. 92Yol which is bL-loiv Ili¢ Lhai'iiy's lai'Bel rate of 98Q/¢. EKpendilui'L on Cliariloble Aclivilie% ivas £139.414 {2023., £118.8721. An analysis of these co8ls is shown in note fi on page I l. T'he Lost ofr'rLpair4 h￿ve increased due lo cyclical repair% dclivered in th¢ y¢ar, void T¢pairs liave dlso increased due 10 4 further void8 in the yC£1r in addition lo th¢ 2 vacani propeiti¢¥ a5 01.the end of 2023. Deprecilltion ci)818 arc al%0 highei. Ilue lo distM)sal of r¢pluLed heater5 in Ilic yek)I'. 'fhc%e incira%cd costs resulted ITh d nel Iu5s before Irdnsfers of £21.246. Thc invc.4iineni tx)i#falio performcd similarly 10 2023 returned g nel gain of £3.410 12(J23.. £3,552). While 2024 yielded good relurns. Iliere ivtss a doivniiiim in tlie markci in Q4 wliich lias cunlinu¢d into 2025. 68kn of Walihatn Abbcy's investmenis with M&G ivliiLli lia¥ liolvever Out[￿rfO1Thed the Ioss tnaking market d￿rIng Ihis tirn¢ pei'iod and Yield￿ relurns in eurly 2025. Page 2 WALTHAM ABBEY NON-EDUCATIONALPARUCHIALCHARITIL REPORT OFTHETRUSTEES for ilie Year Ende 31 Deiomb r 2024 The Vdlue ofihe Cyclicdl Repair5 fund #l Ihe stxrt of the year iva5 £89.000 and has IK'tn rcduced by £20,371 cy¢liLal St￿lld in the ycar. No Iransfcr is proposcd in 2024 a5 the fund is %uffi¢icnl loi. dclivcry of Ihc long-tcmi eyclical Inainlcnance plan. The ExtlEOTdinary RcpaiTS Fund holds a furthcr balancc of £00,380 to providc addilional 5UPPOrt if r¢quired. A Iraiisler of £9,187 representing the d¢prebiali4)n on a5se15 acqllired using the grant mojiey reLeived has been Inade fiK>m the Social I lou￿1n￿ Grants l.und io the Gcncral Rcscrves. RE5KIiVKS POLICY D¢sigiialed I￿SerVes￿re Inainlained Ik15ed on 8uidance i&sutd by Ihe Almshouse AS￿¢latIon forexpendituiron w'clical Inainienance artd extraordinary repairs of Ihc Charity's PTOP¢rtle5. The Trustees hav¢ revi¢i¥ed the reserves pDIiLy and eonsider il prudeni 10 keep sut]icieiit general r¢serve%. not invL'%ltd in langible rixcd as%els 10 cnablc Ilic payment ot-nJnniDg costs for J minimum cif12 tnonih%. Al thc pirsajt time the policy cannot b¢ achieved but the TTUStees remain cot)fideni that Ilic Charity has suifici¢nl working Lapiiaj as a lar8e percentage ol- 115 iliCOliiC cotnprisr5 Housing Benefit. RELATED PAR'fYTRANSAcfioN5 Th¢re iverc no iransactions iviih related parties during Ihe ￿tiod. RISK POLICY AND RISK MANAGEMETrvr The 'l'rustce5 have rcvieived Ihe Ilisk Registei. which 5cck5 10 ideniify the significant risk8 to which the Charil), is exposcd and huve tlie plan8 in placc lo miligaic those i'isks. The I'isks revieived ittclude ihose relating Iv the vperaliuns and linanLrs of ihe Charily an(1 Ihey are Xalislied ilidt system.% in place adequalely tniiigale those risks. Kcvi%cd procedurL% arc in placc lo ensiirc compliancc with hcallh and safei>' of rcsidciits, 51aff, and volunieeTS. STATEMENr OTr TKusrEES RESPONSIBILITIES The trusiees dr¢ responsible tor preparing the R¢wrt of Ihe'l'rustces and thc financial 5tat¢meni8 in accordancc iviih applicable law and rcgulalion5. 'lknc law applicahle lo charilic8 in Lngland & Wal¢s IEquires tlie Iruslee5 to pr¢pyTe fjnancidl siaie11)¢nls foi. ¢aGh rinancial ye￿. accordatK¥ iyiih Uniied KinL)dom Generally ALL¢pl¢d Accouniin81?raclicelUnil¢d Kingdoni AcLoiinling Standard% arad applicable Idw}. 'I'IIL Iruslees mu%1 nol appmve Ihc firtartcial %ialcmcnts unless Ih¢y are salisficd that they giire J ti'ue and fair vicw ot. the slatc of affaiTS of the charity of the incoming resourees and application of rtsouire& iii¥ludiiigi Ili¥ iT5¢0me and expenditure, ofthc charity (or Ihui pei'iod. In preparing Ihcse fJDan¢ial 81aiemenls. the Iru51¢cs are re4uir¢d io.. selcct su&labl¢ accouniing policies and &pply Ih¢m ¢onsisienily' observe ihe Ineihods aiid priniiples in IhL' Chdriiies SORP,. makL.ju(l¥iiienls dccounlingy t51iniales Ilial cifL icasonable and PTud¢nt: $iat¢ ivlieiher applicable UK ALcounling Slandards have bten followed, subject to any Innlerial departures di5cID%cd and cxplaincd in th¢ financial slaicmenls. prcpai'c ihe fJnan¢ial %laiemcnts on the going Guncerji basis unle55 It is inapptopriate to piesuiiiL Ih1£ I the ch￿'ll), vill continue Io op¢i'HIe. Thetru5t¢¢s air responsible for keepin8 suffic&cntaccouniing i'ecords. Ihal di5Llose iviih reasonabl¢acGui'acy al any iinic th¢ finanGial P08iiion of ilie charily and ajable Ilieill to ¢D5ur¢ Ilidi Ilie financial %lalcmenl8 coinply with the Charities Acl 2011. the Charity {Ac¢ourtis Reports) Regulalion¥ 2008 aiid Ilic provi.%ions of thc Iru51 de¢(l. Th¢y are also re5POnsible for safeguai'ding the as￿¢1$ of Ihc cliarily and h¢DLY foi. taking reasonuble sieps for Ihe pr¢vLTrlii>ii dnd delectiuii of Iraiid and oilier ii'r¢gulai'iliL.%. ON BEHALF OF Tllb IIOAKD: TRUSTEE Dalcd.. 10 Jun¢ 2025 Page 3 IAL llld•peudent EM•￿t￿•R￿portl•￿•Trns￿¢￿0¢w1*1a￿ AblwNow-E4lttAtIMhl P•roEhlAI Chi T rep￿ fr> the charity trusttts on my ¢xomination ofihe fin8nciDI Swcmthtsof 1hey¢br￿d¢rf 31 Dccembw 2024 which g)rnwi%c the St*unenl of FJtwtYAal ActivitiK the Balat)¢e Sh¢d. tk Ststane4Lt ofcth Fknvs and Tdthl Mte& This report li solety to thedwlty'j In wjrdw wtth ScL*ion 145 ofthe Ch&ritles Act 2011, My work ha5 be￿ ￿ndertak¢ll ￿ Ih&t I mithi 5tDte to the eh8rlty'5 Inisl¢e5 tho8¢ matteTr l am rtquir¢d ￿ state to thetll In thi8 ￿porta￿ foT Tr> oihCrw￿ To the th11&41 Lytethi petmltted by law, l &J not occept or rcwsibility lo ottxr than the cJ4Aty atNI Ik dwlty'8 ￿le¢5 &9 a IKNIY. for my wovk. for thi3 opIJJkn¥ I hRv¢ forni Re5p0￿1b1MIl¢6 bull •fryrt A5 Ihelruswof (h¢Chartty*yOU Werew￿1b]e￿ thcw¢wa¢knof iknfinanciq] st&km¢nls tnacc£YdHrKe Ivlih th¢ requir&nenL% of ¢h¢ aMiliu Arx 2011 {'th¢Ad'i I re￿t in tsp¢ct of my exami￿tion orth¢ chsrity's lIn￿l￿[ St&tern￿tI c¥Tl¢d out utth geetion 145 of Il* Chgritls5 A¢t2011 {'thE2011 Ad.) I￿1 intffjlngo￿mY examiMtKm I haye followed all Iheapplicthle Direclions giv¢Tr by Ilje awlty COMMI￿LOn under 145(5Xb}of th¢ 2011 A An independ#]t ￿aMInati(￿ dou w i[Milv¢g￿l]crfn￿ all ts cvid¢nce that would be wuircd in Bn and eoDsequcntJy (h)tts not covcr all tht iknt ￿ ￿d5¢01 LtyisideTS in BlYinÈ th¢ir oplnion on the Finan¢ial slatakncnts. The plan￿￿E WKI of ￿ autht goes beY(￿d limilcd B5wranL% that indepenthnt exQmin￿tIoYj ¢•n proYid& cons4￿￿tty. l exww no opinion a8 io W1￿her the r]n￿C￿l stglememls presrnl a 'truc and fatr, vi¢w my rep)rt is limited to th>se S￿IrJe ￿￿trA5 sel oul in the Indepet￿¢￿t examiner's At8t¢matt. I ￿ve L¥jmpI¢t￿ my exomillotlon.I cotth thBtrn tnaterfot M￿1￿¥h￿ce0Mt￿ my 8ttention inGOnn¢￿I0￿ Ivlth ihe oxamknation glving ine uuse lo htlieve thtl iu any maltti81 rt¥prya: accoun¢in8 re¢fjrd¥wttt not ktyt InFupeL* oftlK (knity requir￿ by sA*ion 130 of th¢ A¢t:or > the flnonGial staturtents do Thjt ￿c￿>t￿ wtth iets)rd4" (* thr rma￿lat stat¢monL% thj fvt wmply wlth thc aJ4ylltable requlLEmL¥ts GOTK*nJlng the Form conw ofaccouttts set oui in (P￿ Clwilies {Ace4xthts and Rep(xtsl Regulatio￿ 2Th>8 other than 8 rcqiiirement thfit the accouts give a'twe fair Vlcw whid] Is Th)t a m￿ter consldered as part of itrtkpethi exa[Thin￿10n. I h&v¢ no u>ncuns thl have eom¢ eth)35 rn ¢Jthr Matte￿ wlih thB c¥amination to which &ttcnilon a￿ld be dmwn ltt this rtpwi In wdplto en&ble a pIDp￿ of the finanGlal slal¢ments J A luck1￿, F Alivyns LLP Chariwed Acco￿1*￿ts Crown House 151 Higli Road IA>ughkn Essex ieJ104LO D4t& 11 WALTHAM ABBEY NON-EDUCA'fioN HIALCHARITIES STATEMENT OF FIiYANCIAL ACTIVITIES for tkne Year I;, dell 31 De¢pmb¢r 2024 Nul¢ Ilmrogtritte C¥eneral De5igibrit¢d T&t41 R¢strfcltd 'rot*l 2024 2023 INCOME & ENDOIVhlENTS FROM 109.975 4,783 109,975 4.783 101,522 4,786 InvcstmeTht intomt TOTAI. INCOMF 114,75¥ 114.75% 106.308 EXPENDITIIRE ON: Charft4bl¢ &¢llvlll¢s 139,414 139.414 1111.872 TOTAL ICXPLNDITVRE 139,414 139.414 111¢872 Ntt Ealnsll1055es} oll i￿¢￿tm¢￿t$ 3.410 3.552 NET IEXPENDITUREhl INCOME BbbORE TRANSFLI RS (24,656} 3.410 121.2401 19.0121 Tr4nsfews Be¢w¢om Futtds 13 29.558 20.371 9,187 NKI. ILXVLNDITVREV INCOME ArfLR TRANSFER8 BEiJVbEN I'.IINDS 4.902 {20.371) 15.7771 {21,2461 19,0121 RECONCILIATION OF FUNDS: UNDS BROUGHT bORWARD 55,425 149,380 434,738 63().543 648,555 FIINDS CARRIED FORWARD 60,327 129,009 428,961 618,297 639.543 All income and expendiluir has aris￿ from conlinuiDg aciivitics. 'rh¢ nDlcs fomi part of Ihesc finan¢iAI staiemen15 WALTH BBEY NON- DUC.AI'I AL PAR CHIAL BALAN SIICI ET As 8t JI December 2024 2024 2023 Notes FIXED ASSETS HuLlSlll&i and oilier property Invc%lniLiII. 10 485,1185 502,335 602,797 612,095 CURRCNT ASSETS.. D¢hi¢)I'b ￿ni1 prepaytn¢nt5 Casli ai bank lind in I￿nd 4674 41.Y30 34,808 46,604 CRf.DITORS.. Amounts falling duc ivitliin year 12 19,308 19 56 NET CURREwf ASSETS: TOTAL ASSETS LESS LIABILITIES: 618297 639 543 REISERVES.. UniLsiriLied... Income expendihire Dccounl {Genei?I fund) Desi&Jnaled iEserves 60.327 129,009 55.425 149.380 RLbiriclLd..- Eiidoi¥ii)eni fund social Ili>usiiig tirani fund Revaluaiion rcserve 205,993 183.739 205.993 192.926 61¥,297 639,543 Tlie linAnLiHI slaiemenis weir appix)ved and auihori5¢d for issuc by Ilie Board of Trustees on 10 Junc 2025 and iver¢ SigllLd on 118 behalf by.. 'rRlJ4'1'1.'r... The note5 foim parl of Ihese financial siatemenls Page 6 WALTI4AM ABBEY NON-EDUCAI'IONAL PAROCHIALCHARITIES STATEMENT OF CASH FLOWS for the Year Ended 31 Deeember 2 24 RECONCILIATION OF NET EXPENDITURE TO NET CASH FLOW FROM OPERATING AcfIviTICI S 2024 2023 (Expendlturellnet Income for the reportlng perlod las per the statement of Ilnanclal athlvltlesl Adju5tmentsfor'. Depretiatlon Charges nterest received Dlvldends received IGainslllo55e5 on investments Ilncreaselldecrease in debtors Incwselldecreasel In credltors Loss on disposal of flxed assets 121.246 19,0121 37,021 14221 14,3611 13,4101 1,053 14481 30.102 17631 14,0231 13,5521 1891 175.4301 Net Cash provldedllused In) by operatlon activltle5 8.187 162,7671 TATEMEIYT OF CASH FInWS 2024 2023 CAsh ftow5 from operAling 4ctivitS¢5: Ca%h gener￿Ld fi'om opci'aiions (Sce above} 8,187 162,767) Cash flows from investing Attivitie5: Interes1 received Dividend5 Vtceived DiYidend¥ t¢ithvested Pureliase of tangible fixed 455ets 422 4.361 13,3421 120,3711 763 4.023 13,0331 (19,8841 Net CASh providvd by investing activities (18.9301 Change in tash ca$h tqulv%ltnts in the Rtportlthg period Cash aiid cwsh C4UiVAlents At tlie beginning of the reporting period {10,7431 180.898) 41.930 122,828 CAsli tAsli eqDivalellts at the end of tjie reporting yeriod 31.187 41,930 The noies loriii parl ol-lhesc financial staleincnls Pagl 7 WALTHAM ABBCIY NON-EDUCATIONAL PAROCHIALCHARITIES NOTES TO THE filNAN rTrr Ilie Yexi. Ende(131 Dcccmber 2024 ACCOUNTING POLICIES Waliham Abbry Non-Educalional Parochial Chariiies is a Chalily Tegisler¢d in England & Wales, nutnbei. 213327. and is governed by a Sdi¢m¢ appiuved by Ihe Charity corninission dated 17 Jknuaiy 1963. Bx5is of Accoujjtiiig The account5 (financial 8talemen18) of th¢ rharily have been pirpared on & going concern basis tsndei" the historical U151 Lonvention, with the exLepiiots Ihdt inve51menls 8lE included at rnarkei valuc. The ac¢ounl% have been prcpared in accordance with Ihc Siateimenl ol. Ilecommcndcd Pracli¢¢'. Accounting arKJ Re￿)rling applicable 10 harities preparing their a¢¢ount5 in accoi'dance iviih Ihc l-'inancial Rcporting Standard IfRS1021 and applicabl¢ UK ALiuuniin8 Siandard5 ar¥J the Charities ALI 2011 and UK Generally A¢¢epled PL'&cii¢e 88 11 applia8 from I Janiillry 2a1 5. The fil1￿Cial s¢aiem¢n15 have been prepared 10 give a 'lriie and fair. view and have dep￿le￿ fiY)Tn the Cliai'ilies IAccoiini$ and Ileports) Regiilalions 2￿8 only lo Ihe exietji reqlliT¢d lo provide a 'tru¢ and fair viciy,. Thi% depatluir h￿5 involved following A¢th)unting llnd Rcpoiiing by Chai'ities preparing Iheii. aL¢uunls tn acLordanGe viili lh¢ I,iiiancial Rewriing Sixndard applicable in lh¢ UK and Republic of Iwland IFRS 1021 issiicd on 16 July 21114 rnihcr Iha* Ihc Accountiiig and Reporting by Charities.. Slaiemenl ufRecommetJde(I Praclice etTeclive Irom l April 2005 ivhiih h88 since bccn wiihdi•ivn. The Cliority meet5 the definition of a public entity iindcr FR8 102. Tlie linancial slatements are prcsented in biei'ling ivhich is the fun¢iion81 cunrncy of the Chai'ity and Ix)unded lo Ilic nearc%t pound Coing Contern -l-lie tinanLial slalemenls have been ptepared on a goittg wncern basis as Ihe Trustee5 believe Ihal no malcri&l unceitainiies exist. The Trusleo8 havc considcred the Icvel of funds held and lh¢ expecied lev¢1 ¢)f incomc and e.¥pendtlurc for 12 Jnonihs frum auihuri5ing these fink)n¢ial slateinenis. Thc budgeted in¢*)mc exp¢nditurc is.%ul7icient with thc levcl (>f re5crves foi. the Charily lo be able 10 corttinue a5 a going ¢oncern. Income xnd Ei iiilowrnomts All income is I'eei>gni%ed inthe Staltment orriiiancidl Aclivilies ivhen Ihetyhxrily 18 legally ¢nliil¢d lo the income. Residents, conlribuiions Iwhi¢h includcs Servi¢¢ Ch￿ge incom¢l are accounled fur in Ilie period ¢0 ivhich ihey rL'laic. xpeii(Ilture Bw$is of Apportionillg Costs All cxpcndilLir¢ 18 accounted tor on an accruals basis and has been classified under hetsdin8S that aggregatc all Lxis15 Irlaied 10 lh¢ category. Expthdiluir Is I'ccogniKd once Ilieir is a legal or LonsiruLlive obliga11￿ to make payiiienis 10 third paiaies. il is probable thai Ihe seiilemenl will be required at)d Ihe arnount ol. Ihc obligation can bc mea%ured Teli&bly. c.h endit Cosls for th¢ full ycar include Ihc cost.8 of rcfiirbishmenl. maintenance and tnanagement of Ihe propety ond ¢0st5 I'claliiig lu Ihe gienerdl w¢lf#ir of the tesi(l¢n15. All expenditure is chargcd in thc tinancial year to Ivhich il relate5. Houslmg Properties Component A£couiiling 'I'lic urib7in#l FranLis Gr¢¢n¢ Alttishouse.% w¢iE cons11￿cted in 1626. Sincc Ih¢iE 15 no prccis¢ r¢l￿rd ofihe vrigillal co%1, no value 15 attributed Ihereio. The c051 of Ihe Hoiising Properties relaics 10 tmpTovemenls caiTied out sinle 1992 ivht¢h have becn funded by Social FIousin8 Gi'ant, a mortgak7e loan seLwr¢d by a chaiEe on the Alm8hou5C propctli¢4 and fix>m Ihe ChaTilies own iysources. Page 8 WALTHAM ABBEY NON-E4 DUCATIONAL PAROCHIAL CHARITIES NOTES TO THE FINANCIAL STATEMENrs for the YeAr End￿1 31 Dtrember 2024 Housing Properlies air 51at¢d at cost less accumulated depreciation and any impatllnent 10ssLS. WJlihdin Abbey Non-Lduc&lional l)&roclital Charilios calculates dcpircialiDn by implctncnting componcnl a¢c()uniii)g. F..qiimalcd figure% h*ve bcen u%ed ivhcrc duc to ihc cla￿￿e of lime or Ihc disproportionate cost of ascertainin&¥ Ilil figui-es, it ha5 noi b¢¢n FK>ssible io gcl dciual intori￿ali0n. Tliis medns Ihal depreciation is ¢I￿l'g¢d based on the cxpecied useful lifc of cach comtxincnt iviihiii Ihc housing pi'opcrlic5 as follows.. FrLcliold Property Building Warden Call system Maijis water conv¢i%ion Kilchcn% & Bathrooms CominunAI loung¢ fuiniluiy l-ire Alarin system )minuttal arcas radiators Electric h¢alinu (all flats'l 20 )'ears 50 years 20 years 20 year5 20 ycars 10 years 20 year5 20 ycars 15-20 years 20 years 30 years 20 years Windoivs Gullering Other'fangibk Fixed A5$¢t$ Plant an(1 niabhip¢ry ib slale(i ai cost less a¢Lumulaied depreciation and any impainn¢ni losses. Assels arc writtcn uff on a sirdiglit linc basi5 ovcr 5- 311 y¢aiE. MY4jor Rep*ir5 Costs oftnajor rq)air4 uiile%s rcpre%cnling iniprov¢menL8 to Ihe fabric of Ihc Housing Properties, )ii tyhai'ged lo thc SOFA in the year in wliich Ihcy arc incui'rcd. ImpAirment At eg¢h Balance Sheel date. housing PToperlie5 arc a5S¢Ssed 10 delerrtiine ifihere are indica¢oT% Ihal Ilie properlies may be itnpaiird in value,. illhei-e such indiLalors of iinpaii'menl, tlien acomparison ofihc propci#ic% cairying value is compllrcd lo ils rccoveiablc amount 1% undcriakcn. Any excess over the r¢¢overable ￿noUn1 is recognised as an impairm¢ni loss and charged as expenditUT¢ in Ihe SOFA: tlie carrying value is IrduGed appropriaiely. l#vtstments InVe￿I￿eniS are measured initially at Losi and subgLyuenily ai fail. value {IheiT markel value} ai Ilic balance 5h¢et dale. Tli¢ sofA includts Ilie nci gains and lo%scs oi'i%ing rcvaluations and di5PQ5als Ihroughttui the >'Lar. Thc li'usiec% adopi a caulious invc51m¢nt p)licy so as lo minimi5¢ risk. Invesim¢nls are moniioird an(1 revi¢wed by Irubi¢es on a regular basis. Sotial Jlou&ing Cr4nt Social Housing Graiii ISFIGI was paid by IhL Houhing Corpoi'alion lo reduLc the cosl ol. dcvclni)mcnl. In wI￿anCe witli Ihc Cliai'ily Sl)111) {I.'RS 1021 Ihc $1-ICi Is rccognised a5 incoTnc in the ycar ot'rcccipi and Ireoied as a resii'icicd Cund {SDGial Housing Ciiainl fuiidl. lkni5 lund 1$ reduced dnnually over lh¢ e.%PLLILJ uselul lifL or th¢ buildinL. Tlie ioial SHG r¢ttived ivas £459.34Y 1% repayablc usually Dnly ifihc propcrt). ]% dcinolishcd. 'he value of ihc 81?nt iyould usually tran%lci' Iviili IhL propcrty to neiv owners if sold. Cash 8t b•nk han Casli al bank and in l￿d includes currcnl and bank d¢posil accounls iyiih rx) wiihdraival limilalior5S. CreditoJ% Ci'cdilors are rec(18ni5cd %¥herc thc charity ha% a prc%cnl obligation resulting froni a past ¢veni Iliai ivill result in th¢ Iran%fcr of fund5 10 ¥ third pariy and ili¢ the ¢onir8Liual provisionb vfiliL insirutnenl. Page 9 WALTHAM ABIILY ON-EDUCATIONAL PAROCHIAL CHARITIES Trlldt (including rcntall and othei'debiois and creditor% arc clas5ifJed as ba%1¢ financial in51riiinenis and measured ul iniliiil recognition at Iran￿¢tIOn pi'ice. Debitsi% and cr¢dilor% are su&%equcnlly mca%ured lli umoTlised cost iising Ilie el7eLliv¢ inieirsl i?ie meihod. A piY)visiun i% ¢slabli5hed ivhen Ihere is objeeiive evidence Ihal the Charity will ni)I bL able io collect all amounls due. Casli £ind cash equivalents are classified as basiL linanLig1 ins11'um¢nt5 and compi'ise cssh in hatxl and al bank, slioi'l-ieim hank dcp05ils w&th an oi'iginal maiui.ily of Ihire months or less 8nd bank Ove1￿raft5 wliich are an integi'411 pait of Ihe Chai'iiy's cash manJLT¢¥n¢nl. Fun(1 Aetountlng ticnLI'cil funits. are unj'eslricled funds which are ￿¥￿ilable for use al the diwr¢iion of the triisiccs in furtherancc or Ilie geneY&l obj¢ctiv¢8 of the charity Ènd whirh have not been designattd for otliei. puipoyes. 'I'h¢ l)esignaled Irser¥c £on5151s vf funds sei aside 10 meel Tnaintenance costs io exces8 of anniial budgeted c.Kpendilure. Ilcsli'icled funds are fund$ which are lo b¢ iised in ac¢thrd#nc¢ iviih specific Irsiriciions imposcd by donors or vhi¢h have been raiscd by the charity for p&rliculai' PllTPTrSe%. 'fhe cost ofixising and adillinislerinB such fund re ¢harged against the SKEcifi¢ fund. Vnlue Added T•x Waltham Abbcy Nnn-Educational Paix)chial Charities is noi r¢gisi¢Ted foi. VAT ond in th¢5e fjnancial st81ement%. IvheiE opplicuhle. expenditurc shoivn 15 inrlii%ive of v AT. STATF.MENT OF FINANCIAL AcfIviTIC4 S {2023 COMPARATIVE) CenLir41 De¥l¥nate Rwlrlrl¢ Totwl 2023 Jh'c'olll & ENDOWMENTS FROM.. CharilAblo A¢tlvldty 101.522 4,786 101.522 4,786 Inl'e5ti￿tTht Incomt To'fpll. INC:0M￿. 106,308 106.308 EXPLNI)I'I'(IIIL ON.. 118.872 118,872 TO'I'AI. F.Xl'kNDITIIRr 118,872 3.552 3,552 r E'f IEIP&NDITURLVINCOME RFFORtP 'I-IIANI Sl,'b.liS 112,564) 3,552 19.0121 TrAiisfers Between Funds 4.187 5.000 Nl'f Tr*iOVLl*lF.NT IN tfUNDS 18,377) {5.635) 19,0121 RECOIYCILIATION OF FUNDS: ri'.NDS JIIIOIIGHT FORWARI) 63,802 144.380 440.373 648,555 FIINDS CARRIED foRWAIID 55.425 149,380 434.738 639 543 Page 10 WALTHAM ABBEY NON-EDUCATIONAL PAROCHIAL CHARITIES NOTES TO THE FINANCIAL STATEMTr,NTS ror the Year Ended 311)e r 2024 WEEKLY MAKNTEIYANC& CONTRIBUTIONS 21124 2023 Gross amouiit receivable Less.. Voids 118,577 18.6021 109,975 I la.302 111.71101 101.522 INfEREST RECEIVABLE AND SIMILAR INCOME 2024 2023 Dii'idends Inieresi re￿]Ved 4,361 422 4.023 763 4,783 4.786 TRUSTE4ES' AND KCIY MANAGEMENT PERSONNEL REMUNCIRATION AND EXPENSES The Trustees. wl?o coinpi'i5E all the Key Management Peysoniiel ofihe Chai'ity. ncithcr receivcd nor 1valv¢￿ any r¢inuncialLon during ihe yeai'12023.. Lnill. 'fhc'l'wsi¢eq did noi havc any ¢xpcn￿s reimbursed dui'iiig IhL year 12023.. £nill. Ilarrison H()using wcrc ￿mployed by the TTusie¢$ 10 act as the Managingy Ageni IOT IhL LI)Ariiy and are responsible for day-loday adtnini&trdtion. Employees Ther¢ w¢rc no ¢mployees in 2D2412023.. Nill. XPENDITURE ON CHARITABLE AC.TIVITICI S Divttt Expendlture 2024 2023 Ilcpaii's & Inaini¢nancc Repairs- vuid Gardcning LiglitlD8 & hcaling and ivat¢T PropETly vpeiaiing cos15 E4ad Dcbt5 IDsuTanLe Depr￿latiOn SuP￿rt cosis Iscc Eclow) Governttnce c051s {5ee belDW) 25,788 13,822 1,440 25,9()5 8.5(Jl 10,587 1.392 1.526 3,271 3,069 37,021 38,289 2.785 3a.102 34.770 3.465 13(}.414 11¥.1172 Pagell WALTHAM ABBCIY NON-EDUCATI ROCHIAL HARITIE NOTES'I"O TIIE FINANCIAL STATEMEiYTS i. tlie Ytlv Ended 31 D ber 2024 6. EXPENDITURE ON CHARrrABI,C AcfiviTICI S Icontinue¢l) Supi>ort costs 2024 2023 Management Fee Other ¢xpcndilui 35.175 3,114 32,296 2,474 38,289 34.770 Covern*thce Costs 2024 2023 Independent Exatniner's fees 3,638 3.465 3,638 3,465 TAXATION Tlie charity 18 4 registered chaTity as Buch its income and gains lalling within sebtioTr 47110 489 of the Curpoidlion Tllx Jct 2010 or seciivn 256 of the TÉL¥ation of Cliargcabl¢ Ciain% Act 1992 are exempt from oiporaiion i#% lo Ilie cxlenl ihai they al'e appli¢d lo its chariiable objeclives. FIXED ASSET INVESTMENTS 2024 Market VRlue 2024 202J Market VAlue 2023 C05t Cost liive5tment* cornprige tht followiiig: 1.244 COII.. Income Shar¢5 COll.- D¢po%it fund M&(i Chai'ity Assci Inc()me l.lind M&CI Charity Assel Accumulatiun fund 31 DLYembrr 25.245 12,328 7,623 71,916 117,112 5.748 12,321 2,843 22.716 24.687 11.720 7,376 66,577 5,748 11,710 2.843 19,982 40,283 43,628 110,360 21124 2023 MAdiet Value: l January A¢curnulaied Incom¢ reitsvesi¢d Unr¢alised gain￿(loS5es} 31 Decemb 110,360 3,342 3,410 117.112 103.775 3.033 3.552 10.360 The oi'iginal Cobl of invcslmenis c8nnot bc a5cenaiJed. so they have been slated ai IheiT values (>n l April 1988. Addiric)ndl inv¢sIM￿lS sinLY ihal date ur¢ valucd at e()st. Page 12 WALTHAM ABBEY NON-EDUCATIONAL PAROCHIAL CHARITIE NOTES TO TIIE FINANCIAI, S'I'A'I'F.MCNTS for the YeHr F.niled 31 Dectmbti. 2023 INVESTMENT REVALUATION RESERVE 2024 Z023 Balanc¢ IMDughi IoTward Unreali5ed gainslllosseb) Llalancc CQTri¢d foTward 3S.819 3.410 32,267 3.552 39,229 35,819 io. TANGIBLE FIXED ASSETS Freehold Houslng Propertv New Bulld Propertv Plant & ?¢hlnery Total At l Jan￿ary 2024 Addltlons during the year Disposal during the year At 31 December 2024 807,882 40,487 256,662 20,371 19,7881 267,245 1.105.031 20,371 19,7881 1,115,614 807.882 40.487 reciatlo At l January 2024 Charee for the year Dlsposal At 31 December 2024 488,625 16.156 40,487 73,S84 14,759 13,6821 84.661 602.696 30,915 13.6821 629.gZ9 504,781 40,487 Net book value At 31 December 2024 303.101 182.584 485,685 At 31 December 2023 319,257 183.078 502,335 DEwfoRS: AMOUNTS FALLING DUCWITIIIN ONE YEAR 2024 Z023 Weekly maint¢nan¢e conlribulions I,¢$s.' Bad Dcbt Pyovision Pirpayincnis 8,740 {7,371} 2,252 6.501 14.1001 2.273 3,621 4.674 Page 13 WALTIIA ABBfi Y NON-EDUCATIONAI. PAROCHIAL CHARITIIS NOTf.8 TO THE FINANCIAL f r tli¢ Yexr Ei nded 311)e ATEMENTS 21124 om1> 12. CRCI)ITORS: AMOUNTS FALLING DUE WITHIN ONC YLIAR 2024 2023 Trod¢ Lr¢diloYs A¢cruals 11.768 7,540 19,308 8.715 19,756 RESERVES Gainsl{1055esl Transfers on bthyee liivestm*iit$ funds balaiice5 31.12.23 income baJxnce3 EXpendIt￿re 31.12.24 Ciencral funds 55.42S Ik5'ignaied ERF 60,380 Designated CMI", 89,000 Endo%¥ment Fund 205,993 Stscial14ousing Grant fuTKI 192,926 Rev¥lualion Rcscrve 35,819 639,543 114,758 1139,4141 29,558 60.327 60,380 68,629 205.993 19.1871 IB3,739 39,229 618,297 120,3711 3.410 3,410 114,758 1139,4141 Fitnds bAIAthe¢$ 31,12.22 Inctrme Gh1n￿lI0$s¢SI 'frAMsfers behvten funds Expthdlture ittve51ments 31.12.23 Cicn¢rTrl tunds 63,802 106.308 DeSiLin￿l¥d ERF 60.380 l)c.%ign8iL'd CMF 84.000 Endoivmcnt Fund 205.993 Social Hoiising Gont Fund 202,113 Revaluution Reserve 32,267 648,555 1118.8721 4,187 55,425 60,380 89,000 205,993 192,926 35,819 639.543 5.000 19,1871 3,552 3.552 106.308 1118,8721 l)ag¢ 14 WALTHAM ABBEY NON-EDUCATIONAI, PAROC.HIAL CHARITIES NOTES TO THE FIN AL TATEMENTS ftsr tlit Year Ei ndeil 31 Dec¢mber 2024 Analysis of net a55eis by funds.. Fixed ASset5' Current A55ets CurrÈnt Net Mssets Cicneral funds Dc%ignalcd l.RF Designated CMI.- En(loivinertl SHG Fund Revaluation Rewves 44,827 60,380 68,629 205.993 183.739 39,229 602,797 34,808 119,3081 60,327 60,380 68.629 205.993 183,739 39,229 618.297 34.808 119,3081 The Designated rescrvc cortsisis of funds Set asid¢ l(} m¢cl mainicnancc costs itl ¢x¢ess of annual budgel¢d ¢¥PL*)ditur¢. 14. CAPITAL COMMITMENTS Ai 31 Decett)ber 2024 Ihere wei'e no cvnlracled capilal Corntnitmtnt {2023.. £nill. Ai 31 DecembLr 2024 capiial commitjnenls duihorised but not cunlTycied iveir £30.00012023.. £nill. IS. HOUSING sfocK Tl)eT¢ %v¢r¢ I l units under manag¢mcnt at 31 Dcc¢mb¢r 202412023: 1 l uni151 16. RELATED PARTY TRANSACTIONS Tliere ivere no r¢laled pariy Iransaclions ¢iiher Ihis ycar or Iu5t year. Pag¢ IS