THE LLIAm HOLMES ALMSHOUSES CHARrrY REGisfERED CHARrrY NO: 214712 FINANCIAL sfATEMEpirs FOR THE YEAR ENDED 31- MARCH 2025
THE LLIAm HOLMES ALMSHOUSES CHARrrY FINANCIAL STATEMENTS FOR THE YEAR ENDED 31sf MARCH 2025 CONTENTS Page Annual Trustees, Report Statement of Trust Responsbiltbes Accountsnts, Report Balan Sheet Notes to the finanoal Statements 8-12 Income and Expenditure Account 13
William Holmes Almshouses Association Trustees, Report April 2024 to March 2025 Background infomiation.. William Holmes Almshouses, Nottingham Road, Ripley, Derbyshire, were built in 1926 using a bequest made by William Holmes, a provision merchant of Shirley Road, Ripley, who died in 1922, for the benefit of needy people who lived in the Ripley area. It is a registered Charity, number 214712. The Almshouses comprise of six one-bedroom bungalows on the corner of Nottingham Road and Fletcher Street, Ripley, Derbyshire, DE5 3AS. The bungalows are large enough for two people to live in comfortably, with a large kitchen, lounge and bedroom. They are kept lo a high standard with any repairs done promptly. All bungalows have a Lifeline call system in Case of emergencies. The properties were modernised in 1984-1985 new bathrooms and toilets were installed as was central heating. Front storm porches were also added at that lime, this obviously made the bungalows warmer. The bungalows were further improved in 2006 with the installation of double glazing on all windows and doors and the fasciae were also cladded. The Association has all gas appliances in the bungalows checked for safety annually. The checks are carried out by a Gas Safe registered gas engineer. The electrics are also tested every five years. The Association is run by a voluntary Committee comprising five Trustees, of whom must be nominated by Ripley Town Council every four years, (although not necessarily Councillorsl, and three Co-opted Trustees who are appointed on a five-yearly basis.
The current Trustees are: Ripley Town Council Nominees.. Mr lan Fisher Cllr Roland Emmas-williams Mrs Lrz Bowley Mr Mick Hooley Mr James Oldham (electsd 12th March 2025) Mrs Isobel Hany (resigned 16th October 20241 Co-opted Memrs. The day to day running of the As50¢iation is carried OLrt by a Clerk apwinted by the Trustees: The present Clerk is Hannah cuOn. Annual Report Aprfl 2024 to Alarch 2025.. Over the past year the Trustees have coMeted wtyk on the remaining three bungalows to ensure they are rid of damp arKI renovated to a high standard, to enable the heatth, safety, and comfort of our residents. The charity is in a very sound position financially and deals wth any repairs or ISSL quickty and efficiently. It is hoped that over the coming years we will be able to increase our savings to enable us to prowde another bungalow in Ripley. The financial accounts and statements are thecked for accuracy on a regular basis by the Chaiman, lan Fisher, and the Annual Accounts are independently checked by Mabe Allen LLP, Chartered Accountants of 3 Oerby Road, Ripley, Derbyshire. To the best of the Trustees, knowledge. all the statutory 8nd legal requirernents of Iliam Holmes Amshouses Charitys Association have been fvffilled. By order of the Board of TTUStees lan Fisher Chairman of the Board of Trus Detsmber 2025
THE WILLIAM HOLMES ALMSHOUSES CHARrrY srATEMENT OF TRusfEES' RESPONSIBILITIES Homes England and Charity legislation requi the Tee5 to prepare Finanaal Stsitements for each financial year whith give a true and fair vlew of the state of affairs of the Prlvate Registered Provider of Social Ilousing and of the surplus or deficit for that period. In preparing these Financial Statements the Trustees are required to: Selett sultable accounting pJicie5 and then apply them consistentlyi Make judgements and estimates that are reasonable and prudent. State whether applicable accounting 51andards have bn followed, subject to any material departures disdosed and explained in the finanaal statements; and Prepare the Financial Ststents on the going conrn basis unless it is inappropriate to presume that the Private ReglsLEred Provider of Social Housing will continue in business. The Trustees are resFonsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the PrNate Registered Provider of Social Housing and enable it to ensure that tr Financial Ststements mmply with the provisions within the Housing and Regenerdtion Act 2008 and the Accounting Direction for Private Registered Providets of Kial Housing 2019. They have general responsibility for taknng reasonable steps to safeguard the assets of the Private Registered Provider of &xial Housing and to prevent and detett fraud and other irregularities.
Accountant's Report to the Trustees on the unaudited Accounts of The William Holmes Almshouses Charfty We report on the Accounts for the year ended 31g Marth 2025 set out on pages 6 to 13. Respective responsibilities of the Trusteas and reporting accounlant The Trustees of the Private Registered Provider of Social Housing are responsible for the preparntion of the accounts, and they consider that the PrivaiE Registered Prolrider of Social Housing is exempt from an audit. It is our reSnSIbIlIty to carry out protrdures designed to enable us to report our opinion. Basis of Opinion Our work wa5 conducted in accordan with the Ststement of Standards for Reporting Accountants and so our procedures consisted of comparing the accounts with the accounting record5 kept by the Private Registere¥J Prowder of Social Housing and maknng such lirnited enquiries of the Trustees of the Private Registered Provider of &)clal Houslng as we considered necessary for the purpose of this report. These procedure5 provide the only assuran expressed in our opinion. Opinion In our opinion: the Income and EXnditU Account and Balan Sheet for year ended 31st March 2025 are in accordan with the accounb'ng records kept by the Private Registered Provider of Social Housing under section 135(2)(a) of the Housing and Regeneration Act 2008. On the basis of the informatii)n contained in the accounting records: The Income and Expenditure Accourt ar Balan Sheet comply with the requirements of the Charities Act 2011; The Private Registered Provider of Soaal Housing has satisfied the condition5 ft)r exemption from an audit of the accounts for the year ended 31st Marth 2025 as spe(ified in section 136(3) of the Housing and Regeneration Act 2008.
Accountanys Report to the T on the unaudlted accounts of The William Holmes Almshouses Charlty Opinion (contlnued) the Accounts comply wlth the requirements of the Housing and Regeneration Act 2008 and the AccountirKJ Direcbon for Private Register&J Providers of Social Housing 2019. Mabe Allen LLP Croft House Chartered Accountants 3, Derby Road Ripley Derbyshire DE5 3EA
THE WILUAM HOLMES ALMSHOUSES CHARrrY BALANCE SHEET AT 31K MARCH 2025 2024 FIXED ASSErs 41,002 Freehold Housing, Land and lIdingS (8) 41,C(J2 FIXED ASSEf lNVEsfMErirs M & G Invesbnents 613 139,615 CURRENT ASSErs Payments in advance Investments - redeemable within one year: National Saving5- InveStnt Account Cash at Bank - HSBC Community Alc - HSBC Mijney Manager Alc 562 532 807 4,746 995 815 11,850 LESS . CREDITORS: AMouKfs FALUNG DUE wrrHIN ONE YEAR Loan - The Almshouse A55]ation Acauals Income recewi in advan (ifj 3,212 748 3,356 1,136 NEf CURREfiT ASSErs 141,182 TOTAL ASSEfs LESS CURRENT UABILThIES 14,334 LESS . CREDrroRS:AMOUNTS FALLING DUE AER MORE THAN ONE YEAR Loan - The Almshouse A%ociation (In 42,5 141182 TOTAL NEf ASSErs CApfTAL AND RESERVES 53,256 Designated Reserves Income and Expenditure Account (9) 38,119
THE WILLIAM HOLMES ALMSHOUSES CHARITY BALANCE SHEET AT 31ST MARCH 2025 (CONTINUED) The Tru5tee5 are satisfied that the tharity was entiued to exemption under tion 136(3) of the Housing and Regeneration Act 2008 and that neither the TNstees nor the Homes & Communities Agency have required an audtt in accordan with the Act. The Twstees ad(nowledge their responsibilities for: ensuring that the Charity keeps accounting records in accordan with Social Housing and Charity legislation; and preparing accounts which give a true and fair VILW of the State of affairs of the Private Registered Provider of Social Housing as at the end of the financial year and of its surplus or defKii for the financial year in accordan with the quirements of this Act relating to accounts, so far as applicable to the Private Registered Provider. The financial statements have been prepared in accordan with the reyuirements of secknon 135 of the Housing and Regeneration Att 2008 and the Accounting Direction for Private Registered Providers of knial Housing 2019. These financial ststements were approved and authorisoj ft)r issue by the Trustee5 On behalf of the Board of Tn Chalrnian of the Trustees Trustee
THE WILUAM HOLMES ALMSHOUSES CHARrrY NOTES TO THE FINANCIAL sfATEMENTS FOR THE YEAR ENDED 31ST MARCH 2025 i) PIUNCIPAL ACCOUNTING POUCIES The Hnanoal Statements have been prepared in acCOrdar with applicable Accounting Stsndards in the United Kingdom including the Statement of Recommended Practice. The accountlng rolldes of the charity are set out below: Accountin The Rnanaal Ststements are prepared on the hLfjtOri¢31 cost basls of accountlng. rn Turnover represents la1 housing income receivable from tenants. Housin Pro erties The Williarn Holmes Amshouses were cortstructed in the mid 1920's and the original cost is shown under Freehold Housing. Further costs relate to improvements carried out Sin 1984185 whlch were ftjnded by a Housing CorForation Grant; a nKrtgage loan from Amber Valley Borough Council, by a charge on housing, land and buildings and from the Aimshouses own resources. As the prowties are maintsined in a stste of repair such that their estimated residual value is not less than their improvernent cost or C<irying amounL the annual charge (kpreciation would be nil. d) Hous1 A550aation Grant Housing A(lation Grant (HAG) is paid by the Housing Q)rporation to reduce the cost of development and is, therefore, shown as a deducknon from the cost of Housing proFee5 on the Balan Shl HAG is repayable under rtain circumstances, primarily followlng the sale of a property, but will normalty be re5trirted to net proce& of sale. Grants reThved rdating to revenue expendtbjre are credited to the Income & Expenditure Account in the year when suth monies are received. Grants received lating to (zpitsl item5 are ¢Jedited to the balance sheet in the year of receipt against the applicable asset. The Almshouse Association Loan The charity received a loan from The Almshouse Asscoation, a register& tharity. The loan is interest free, unsecured and being repaid over 10 years. The loan is to finan required Maintenan work to the bungalows. An arrangement fee of £2,500 is levied to the chaiity in equal instslments across the 10 year temi.
THE WILLIAM HOLMES ALMSHOUSES CHARITY NOTES TO THE FINANCIAL STATEMENTS (conNUED) FOR THE YEAR ENDED 31ST MARCH 2025 PRINCIPAL ACCOUNTING POUCIES (COIMNUED) clical Re an Main nan The Chanty h05 established a regular programme of Lyclical repairs and maintenance. Costs are tharged to the Inco & Expenditure Account in the year in which they are incuThed. Costs of Extraordinary Repairs, unless representing improvements to the propertte5, are tharged to the Income & EXditUre Account In the year In whith they are incurred. clical R irs and maintenan Reserve This reserve represents amounts set aside for cyclical maintenance costs in excess of budgeted eXpdthre for any year. i) Extraordina Re irs Reserve This Revenue Reserye presents am¢)unts set aside to cary OLtt mai)r repairs on the charivs gxial housing properties. k) Charitsble Fund Pro Reserv This represents that proporlion of the cost of properties which was fInand by charitable donatiorLS and the Charity's own resouires. The tharitable FurKI Property Rerve also indudes depreciation equal to loan repayments provided in previous years. Value Added Tax The Charity is not registered for Value Added Tax. In these Financlal Statements, where applicable, expenditure ts shown indusive of VAT. Cash Flow Statemen Under applicable accounting standards, the arity is not required to produce a Cash Flow StstemenL Fixed Asset Investme Imiestment5 have been valued at market prices at 31 March 2025. Account is taken of unrealised gains and losses in the Income and Expenditure Account. Investment Inco Investrnent income is recognised when Sud) income is reived.
THE WILUAM HOLMES ALMSHOUSES CHARTrY NOTES TO THE FINANCIAL sfATEMENTS {CONnNUED) FOR THE YEAR ENDED 31sf MARCH 2025 SOCIAL HOUSING OPERATING cosrs 2024 2025 Housing Accommodation (6 unTis) 1,578 seNis 6,431 - Management 66 956 - Routine MaintenarKe (3) (4) {5) 1,944 7,569 SERVICES 299 Cornmunication System 440 Water Rates Council Tax Electrtc & Gas 202 276 476 83 MANAGEMEKr 2,672 Secretsrvs Honorarium 1,101 Insurdn 1,764 Accountsncy 396 Subscriptions & &milar f5 438 Sundry expen 60 Bank charges Loan arrangement fee 2,839 1,076 1,939 937 592 60 125 (In ROLrrINE MAIi¥fENANCE 3,186 Day to Day Maintenan 770 Cydical Repair5 3,041 -io-
THE WILUAM HOLMES ALMSHOUSES CHARftY NOTES TO THE FINANCIAL sfATEMEMfs (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 INTEREST RECEIVED AND SIMILAR INCOME 2025 58 Bank Deposit Accounts 41 National Savings Bank InvthIt Account 4 158 M & G diwdend income 20 TAXATION The Williarn Holmes Almshouses is a Register&J a)arity and is therefore exernpt from liability to taxation on its income and capital gains. FREEHOLD SOCIAL HOUSING LAND AND BUILDINGS At Cost: 3,030 6 Bungalows, Nottingham Road, IpleY 17,894 Improvements - 1984 80,986 Improvements - 1985 22,168 Completion - 1990 6,672 Improvements - 1994 4 099 Improvements- 1996 134,849 107 657 27,192 21,440 Improvements 2000 (19,696) Less: Housing A)ciation Grant 3 000 Improvements - 2006 31,936 6,086 Impmvements - 2007 2,980 Improvements - 2021 3,030 17,894 80,986 22,168 6,672 134,849 57 27,192 21,440 {19,696) Less: Houng Association Grant 31,936 6,086 2,980 -li-
THE LLIAm HOLMES ALMSHOUSES CHARrrY NOTES TO THE FINANCIAL STATEMENTS (copifINUED) FOR THE YEAR ENDED 315r MARCH 2025 DESIGNATED RESERVES Extrac*dlE¥3ry Cydlcal Repalrs arItable Flnandal Repalr5 & maIntenan Fund Property Hardshlp ReseNe ReseNe Reserve Total Balance 1.4.2024 53,256 14,330 37,119 TransfeJ5 (t0)Iftrt Inmme and Expendknre AcLY)unt'. (15.137) (807) (14.330) Costs irtthrr8 Ftrow5k)n In year Balan 31.3.2025 li 10. ACCOMMODATION IN MANAGEMENT The number of units of social housing accommodation managed by the arity a5 at 31 Marth 2025 amounted to six (2024: &x). 11. MATERIAL INTEREsf OF TRusfEES There were no contrads during. or at the year end, in which a Trustee was, or is, nterIallY intere5teJJ (2024: none). -12-
THE WILLIAM HOLMES ALMSHOUSES CHARirY NCOME AND EXPENDrruRE ACCOUNT YEAR ENDED 31ST MARCH 2025 Turnover Operatjng Costs Notes INCOME AND EXPENDrruRE FROM LEING$ Social housing lettirKJs (Ib) 24,310 (2) 70,269 OTHER INCOME AND EXPENDrnIRE Interest received and similar income Gains on sale of investments (6) 3,993 18 DEFicrr BEFORE TAXATION (41,784) Taxation (7) Unrealised Gains on investment TOTAL DEFICIT AFfER TAXATION FOR THE PERIOD OF ACCOUNT MOVEMENT ON RESERVES Balan brought forward 1st April 2024 87,926 Deficlt for the year (39,348) Trarsfers (to) l from: Cydical Repairs and maintenan Reserve Extraordinary Repairs Reserve 14,330 807 -13-