Ch•vlty r¢#istFatlon nufflber 213838 ALMSHOUSES OF WILLIAM JONES ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 ALMSHOUSES OF WILLIAM JONES LEGAL AND ADMINISTRATIVE INFORMATION Trustees A Elbi Ichairmanl Mrs S Campbell Mr E Elliott Mr D J N RoEer5 Mr G HÈwitt Professor W Horbury Mr M Curtis Charbty number 213838 Indewnd¢nt ¢xamlner Mitthell Charles*￿h 24 Nicholas Street Chester CHI 2AU Bankers Lloyds Bank pl Cknk to the Trustee Mr H.J Butler Jolliffe & Co LlP Solicitors 6 St John Street Chester CHI IDA Inv•stm•nt Manag•r: Quiller Chev￿{ Livorpool ALMSHOUSES OF WILLIAM JONES CONTENTS Trustees, report Statemeni ol trustees, responsibilit4es Independent examiner's report 51atemeni of fifian¢i•l •ttryities Balance sheet Noies to the financ￿1 M*tments 7-13 ALMSHOUSES OF WILLIAM JONES TRUSTEES. REPORT FOR THE YEAR ENDED 31 DECEMBER 2024 The trustee5 present their annual repr￿ and financial swements fortheyear ended 31 December 2024. The financi#l statements hove been prepared Fn acco￿anCe with the accounting policie5 set out in note I to the financial statements and cornply with the Charity'5 governing docurnent. the Charities Act 2011 afid "Actouniing and Reporting by Charities.. Statement of RecomrneThded Practice applicable to charitie5 preparing their account5 in alCDrdan¢e w4th the Financial Reportin8 Standard applicable in ihe UK and Republic of Ireland IFRS 1021 (effective l January 20191 Oblettfves •nd •dMtles The Charity was constituted under Charity Commission Scheme5 dated 12th April 1960. 41h November 1969 and 19Th january 1989 to provide ond maintain Almshouses fr¥r occupation by suitabty qualsfied ￿m$peoPle. There were poliry changes urlnÉ the year efided 31st Dectmbet 2024. Almspeopl• The Charity provides that applicants for one ol the Charity's Almshouses wrt￿ meet the followin8 qualificati•rts may be provided wilh a¢commodation'.- Applicants shall be in financlèl need without subManii•l financial fesour¢es ol ihtlr own. bl Applicants shall be not le55 than SS yèars of age and of 8ood charatter. Appli¢anis mu$t at the lime of ihe4r apwinimeAt resKle in Chester. The Trustet$ belSeve that the objeds of the tharity are compliant with the Charttles Commission Guidance OTr Public Benellt. Achlevements and perlorMarKe All the flats in Park Streei and the house at 11lestmtn￿er PA)ad were occupied during 2024. Flnan¢l•l r¢vlew The Statement ol Financial Activities shows that the net incomin8 resourtes amounts to £16,885112023: £12Q.98911. There was a net gain on sales of investments amounting to ElS.169 12023.. £8.6051 KNin¥ an increase in total funds of £8,28412023. Deficit £12,384). The overall investment pollcy is to ¥chie¥e an appropriate balanced return between income and capital appreciation. The investment5 are dix105ed in the accounts ai CO￿ with i of their Cur￿￿1 market value. The Trusiees consider that the investments are held on a long term basi5 and therefore hasT r￿1 alle￿d the irwestments on the 8alafi¢e Sheei to market value. The Trustees recogni5e the risk associated with investment in rnaiTh5tream finaThcial mar*et5 and a£cept this risk in return for the prospert of additional returns over lon8er Per￿dS of time. As such. they wish to remain largely iTrvested at all time5 subject to C35h re5erve5 being held as Part ol the investmerf martagemeni process and to cover aTry excepiional liabilities. ALMSHOUSES OF WILLIAM JONES TRUSTEES, REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 Strurturej pvernanct •nd maTr•iemert The trustees who seNed during the year and up to ihe date of si8nature of the finarKYal statements were.. Mrs A Elloy Ichairrnanl Mr5 S Campbell Mr E Elliott Mr D J N Rogers Mr G Hewitt Prole$50r W Horbury Mr M Cunls At the year end, the body of Tiustees consi515 of $￿tA cwptati4* trustee5. Until July 2023, the Rev D Che5ter5 ex.offitlo Trustee la Clerk in Holy Orders seleded from the p•rish Chester most closely associated with the Almshouses situèted ¢n Park Street). Co-optative Trustees are app)iThted lor a term of live yeats by Trusiees resolution. Trtssiees, re591utlgns are passed by majority Vote. Thè Trustees usually rneei iwice yearty. The fi￿1 meeting lakes pla¢¢ in April and the second meetsn8 takes place In November. At the April meetlll8, the Trustee5 consider the accounts for the financlal year ending in the previous December. At both the April ènd N￿ernber meetings, the Trustees consider the in¥e5trnent performance of the trust's share portfollo, the trust's financial position and receive a report frorn the Clerk on the Alm5people (bein8 the octup•nts of the seven Almshouses owned by the irustl. The irusiees. report was approved by the Board of Tfustees. MrsA TfUStee Iloy ICh3irrnanl Date.. ALMSHOUSES OF WILLIAM JONES STATEMENT OF TRUSTEES. RESPONSIBILITIES FOR THE YEAR ENDED 31 DECEMBER 2024 Law applicablt to charities in En8land and Wales requi￿$ the trustee5 to prepa￿ fin¥ncial 5ts1ements for eJrh fiNarKial year which give a true and fair view of the charity'5 financial artwitie5 durin6 the year and ol it5 financial p051tion at the end of the year. In preparin8 financial statements 8Ning a true and fair view. the trustees should lollow best prattice and.. select suitoble •¢CouNti￿ polIc￿$ and ihefi appty them eonsistentlyi make reasonable and prudent judgements èfKI estirnale5- prepare the linan£ial ststements ¢)n the toini concern basis unle5S It Is inappropriate to presurne that the charity will continue in business. State whether applicable accounting standards and statements of recommended practice have been followed. subjeu ic+ any departures dixlosed explained in the linancial statements. The trustees are responsible for.. keepin8 proper accountlng records: $3feguardin8 the charity's assets: taking reasonable steps lor the preyembon and detectlon of fraud. ALMSHOUSES OF WILLIAM JONES INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF ALMSHOUSES OF WILUAM JONES I report to the trustee5 on my examinailon of the financial llatements of Almshouses ol Wllll•m Jones Ithe Charity) for the year ended 31 December 2024. Respohslbllltles •nd bail$ of ￿POrt As the trustees of the Charitv vou are responsible for the preparatitsn tsf the financial 5tsterneTht5 in accordance with the requ1￿MentS of the Charille5 Art 2011 (the 2011 Act). I report in respect of my examinatlon of the Chariiy's fin•rt¢i•l sutements C•fried out under strtion 145 of the 2011 Act. In Carrying out my examinaison I have lollowed •ll ihe applicable Diretlions ¢iven by the thèrity Comm15sion under section 145lSllbl of the 2011 Act. Independent examlner'$ 5tstement Your attention 15 drawn to the fact that the charity ha5 prepared fjnancial 5tstements in aC￿rdanCe wlth A¢countln8 and Reportin8 by Charlties preparin8 their accounts in a£cofdan¢e with the Financial Rew)rtin8 Standard applicable in the UK and Republic of Ireland IFRS 1021 in prelereAce io ihe Actounting and Reportin8 by Charitie5'. Statement ol Recgmmended Prauice issued ort l April 2￿5 which is velerred its in the extant regulation5 but ha5 now been withdrawn. l understand that this has been done in older for linaftcial ststements io provide a true and tsir view in a¢rordance wlth Generally Accepted Accouniin8 Pla￿1