THE DAVENPORT HO.NIES
TRUSTEES, REPORT AT4D
FINANCIAL STATEMENTS
YEAR ENDED 31 MARCH 2025
Chmrlty Numb¢T 215415

THE DAVENPORT HOMES
REPORT OF THE TRUSTEES for the year ended 31 M*rth 2025
The Trnstee8 have adopted the provisious of th¢ S¢aicm¢nt of Recommended Ptsctice (SORP) IAccounting and
Reporttilg by Chariiies, (FRS I02) in prrparing thc onnua] report and fill8ncial staternents of the Charity.
Th¢ f￿all¢l￿1 ststettients havc bttn prepared in accordance with the acwwiling policies Set out in notes to th¢
a¢count8 atLd ¢omply with th¢ Choriry's goveming documenL the Charitie5 2011 and Accountillg and
R¢portittg by Ch￿ltIeS.. Siatemcnt of Recommended Praciicc Appli￿b]e to charities preparing their accounts in
a¢cordancc with the Financia] Reponing Standard appli£able the UK aDd Republic of trel&nd published on 16
July 2014.
Reference Adtnlnlstratlv¢ InformAtiott
The TnL8t is registcred the Chartty Comtni8sion. registration number 215415. The Tjust has been aecqited
a ¢hariiy by EIM kn¢nue & Customs and &8 such IL8 iAeome 4ttd Capi￿1 gatns are excmpt from taxation,
The Charity'$ prIn¢1p￿ addrw is 30 Bentley Heath CotiaEes. Tilehou8e Green Knowle. Solihull, B93
9EL
Trustees
Tbe TN3tee8 who acied An the y¢ar ore..
Pregent wm of offi¢e ¢xpire8.'
David Jolm Corw - Chairnwi
Keyin Cooke
Jan Cove
St¢phcn Charlc5 Good¢hild
Mi¢ha¢l Fr￿k Holford
Elizabeth Mary Spenc
Simon Willcock
181k July 2027
18th Septcrnber 2028
201& April 2027
24th I.¢bn￿ry 2030
26th ApTiI 2026
5, Junc 2028
3 IM October 2027
The pregenl Tru8tCC8 are rncmber3 olthe local Co0￿U￿1￿ who are in sympathy with the aim5 of the Charity.
They are local people of illte8rity whose different ¢xp¢ri¢DC¢S combine and add to th¢ CharitY8 acliYitie8
management.
Other Advlyer$
Banker8."
Solicitors..
Inve$¢ment Murtag¢r8:
HSBC Battk PIC of PO Box 68, 130 New Street. B2 4JU
Wallace Robinsoll and Mor8lln. 4 Drury Lan¢, Solibull, West Midl8nd9, B913BD
Eve1)￿ Partners Illvestment Managetnent LLP, 14¢h Floor, 103 Coljnore Row,
Birn]ingham, B3 3AG.
Shona Culler Limited Chart￿￿ Accowitants, Grove Fam) Burtg41ow, Lin¢omb,
Worceskrskn. B3 3AG
Accountants
Audltor
J. W. Hit]ks LLP of 19 Higbfield Ro￿, Edgb&3ton, BIrningha￿ B15 3BH acted &8 audiwr dunog the period
and proptsse than5elves for rwppointment for the cutrent yfar.

THK DAVENPORT HOMES
REPORT OF THE TRUSTEES for the year pnded 31° MaTch 2025 {CODtiDued)
Structurfy Governance and Mwgem¢nt
Governlng D¢xllment
The Charity is govemed by 8 Schem¢ rnted on 6 August 2003 under an Order from the Charity Commission
for Eng]and and Wales under the power given in the Cburitie8 Act 1993 and is known as Th¢ D)venport Homos
(215415).
current Sche￿9 goven)s the chariiies previously known &8 The Davenport Home3 (215415). alld The
Sa￿L￿1 We15h me￿Orial Honjes (216935)
Rttruitment and Appolntment of Tru8tee8
The body of Tru8te¢s ¢onsist$, whcn complete, of not less dwi fuur and not more tlJAn eight compctent persons.
Each'1'LI￿ee is appointed for a tem of five ycars by a rrAolution of rbe TDJsiee8. Upon the completion of their
tenn of office any competeni Truste¢ may b¢ rwpointed.
Rlsk MAllA8emenl
The risL8 to which the Charity is exposed are und¢r tEgUlar￿v[ew.
Policies havc bccn adopted to miligate poientitil risks to th¢ Chariry. its Residents and Employ¢es.
ObJecdveg
The obj¢¢t$ of thc Charity* as set out in the la￿( Scheme. are (4) the provision ofhousin8 acconunÉ)daiion for
benLficiaries' and Ib) su¢h ¢haritable putPO8ey for the benefit of the residenLs as tbe TnLStee8 decidc. The
TnLStLLS have referred to ¢h¢ guidHnLc conthine4J in the Chariiy Com￿18s1on'5 8eneral 8uidance on public
benefit when reviewing tbc Chariiy9 Aim$ ond obj¢¢iiv¢s a[￿ plannin¥ ￿tUre activiti￿. In particular. the
Twstcos hav¢ con$id¢red l￿W planned acuviti&8 will eontribu* to the aims and objectives set.
Publle Beneflt
The Charity provide$ accommodation to those who are uoable ty alTord wMMe￿Ial renis. li maintains c108e
coniaGt with the rcsidcftts, ensuring that their health and welfare are protect
Organljatlonal Structure
All maltets of ￿l1¢Y mauagerneDt ofthe Charity are detern)ined by thc Tn]%tccs at th¢ir regular meetings,
which take place four tim¢J e4¢h year. Infonnal meetings also tske place, morc frequcntly, to review ODgoin8
operational igsue6.
As authoru8ed by the S¢heme the T￿￿te£S bave appointed a part time Trust Ad￿Illi￿tralorTrropety Manager. In
general tem8 the day io day admini8tratian af the Charity is carried out by the TnLSt AdniinistratOT who attend8
each Trustees, meeting to report on all important matt¢rs dealt with since the last meetin8.
The Trystees have ¢sthbli5hed a website at wwW.davenkn￿￿U ÉuLuk. which has been revised And
updated during the year ￿der review.
The Tru8tee8 have appointed a Liaistin Officer who is &Part lime employee to administer to the general welfare
and ¢nvironmtht of all residents on a day to day bo8i8. She ￿￿rtS wc¢kly to the TTU5t Adminiytrator and a
sroup of Trustee8. or more frequent]y if necessary, on any ll￿tter requiring art¢nlion by the T￿￿tee8. In
addition, 5h¢ attends ea¢h forllthl meeting olthe TnIs￿￿ to retA)rt on a more general basis and to take part in
the discussions of the TnLSte&4 on all llLatter8 rel¢v¥rtt to th¢ general welfare of the residcllts.

THE DAVENPORT HOL￿Es
REPORT OF THE TRUSTEES lor the year ended 31" Marth 2025 {￿ntinued)
Organlsattonal Struetur¢ (Continued
Individual Trusiees make themselves availabl¢ rcgularly to meei the TnLSt Adlllinistrdtor, the Liaison o£ficer
and residents to eJNYe all matters of corLC¢rn or¢ dcott with pmmpdy. Certain Tmsiecs with speoialist
l<nowledgc experience attelld the site regularly to advise, within the bounds of their specia]i8t expertise. o
action it 18 necessary for the Tru8teed to take. Property. legal 8nd finon¢iJl rn#tt¢rs are dealt with in thi5 way.
Aehievemellt4 PerforM￿te ind FknXnei￿ Revie
1118 the Aim of the Chan'ty, both present]y and in the fvture, to provide comfortable aud well.mainthined
properties for tbe use ctf rt8id¢nts 8nd to proYid¢ a secure and peaeefid environ]nent in which they may live. The
Charity pre8enily has adeq￿le f￿anCIal r¢80urc¢s alld plans in place to enable the Clwity to meet thcBe
objectives.
All ¢ottsg¢8 And flats have bcen occupied thToughoui the year except for Short peri(xts between the depattr¢
and arrival of beneficiaries •od where refurbishmcnt has been tskin8 place.
The TrustCC8 are ple&8ed thai the social welfare of the ffsidetti$ 1$ being maintsined by the activities of the
LiRison Officer and of the residents them8elves. These a¢tivities oomlly include 80cial fjJnction8 at Bentley
He&ih Cotiage8, trtps to local p18ccs of interest and a Christsnas luncheotL
The tN8tees have decided that theirbe8t interests would be Served by the co08t￿¢(lOll of five &ddition&l cotthge8
on th¢141ttd at Bcntley Heath. Plans have becn (lrnwn up to achi¢v¢ ihis ¢nd. During the year fee8 totsllillg
£127,037 have been incutted on the Trnv build
The fthau¢ial $ta¢Lmcnl¥ disc105e details of ihe financial trHn5a¢¢ious for the yeAr and it will bc geen that a
providing for the upk¢¢p of the a]llthuses, benefits for tesithlll4 8ovexnan¢e and costs olgenerntll￿ fvDd$,
thete wa8 a surplus of £21,585.
th¢ Ye￿ ¢hor¢ ha8 been an increase in the marketVAl￿ of th¢ Charity'6 investtneni8 and as a result th¢
valtte of th¢ Cbhriiy'8 Ful￿8 at 31# Ma￿h 2025 was £5,508394.
The Truste¢8 are olthe opinion that the B21an¢¢ Sheet di8¢1¢￿e6 funds adequate for the purpose of ￿lfillIng the
obliBAlions of the Charity.
IDYe$tment PDIICY
The Scheme imp08es no reytrictioDs on the itive8thient powets of the Tru5tee8.
The Trustees have approved an inirstsn¢nt p)licy ihat requtres the prodU￿10n of an adcquatc income rett￿n
CQD518tent with & requirement lo matntain th¢ r¢ai value olthe Capital of the Charity. The Trnstc&g h&vo
appointcd Evelyn Partners lovestmeni Management LLP of 14th 1.'1¢)or, 103 Colmore Row, Bimiinghatn, B3
23G to a¢t a8 Invcstmcnt Managers io the Charity with full disGretionary Pow￿8. Their perfomwice is
mctnitored using the FTSE All Share Index as a bencllltwk
Reserves Pollcy
The inve8Pmettts of thc Charity produce an income wbich. together with the rt8idents' Weekly Maintenance
Contribuiion, is t￿mi￿llY ￿Ore thgn that necessary to cover the costs of adnJini$tering aud maintaining the
Present almshouses. It is the Trustees policy to retain an amount approximating to the e8timt4ted total 0￿ratIng
expeDse$ for the forthcommg year in the Unrc8triCted Income Fund. Fund5 surplus to these requlretnents are
transferred to a fund desigllated to meet tuwre developnmts. The T￿tee8 are ¢onstantJy ￿nsIdering ways in
which these surplus Funds may be uscd tt> increase the number of almsbouse utiits operated by the Charity or to
cary out major improvements to existing accottllD(Mlation.

THE DAvEfipoRT HofrfES
BIPORT OF THE TRUSTEES for the year ¢nded 315t March 2025 (contlllued)
Pl￿5 for Future Perlod$
The Tn￿tee$ plan to continue to opernte th¢ ￿￿$bOu￿ and will consider way8 in wbich surplus fiuLdB can be
utilised to fiwther the objects of the Charity.
StAtemeDt of Trugteeg, Re8ponsibilitieJ for the Ilnandal statements
The Tru8¢ee8 are responstblc for preparing the Trustres. Report aud the statemeuts in accordance with
appli¢abl¢ law and United Kingdom Accounting Stslldards (United Kingdom Gw¢rally Accepted Accovntill8
Praclice).
Thc law applicable to Clwitie4 in ErtElattd & Wfti&q wires the Tn￿te¢S to prepare financial ststements frjr
ea¢h fmatt¢ial ye4r which give a trne at￿ fair view of the stste of the Chgrity's affaiTS atsd of the incoming
resources and appli¢4ti0tt of resources of the Chariry for that perio
In preparing th&qe fthancial 8thtemettt8. the Tn￿1¢¢$ are requircd to..
l?) Select suithble accouniing poltcies omd apply th¢m ¢0oSiStentiy'
Ib) observe the inethods and principle5 in the Charities SORP.
le) make judgernents and ¢8tirnales thBt are rt&8onable and pntht;
Id) 8tate whether applicable a¢countsn8 Stsndard5 have been follow•1
SUbj￿t to any material depa[ll￿cs disclosed and ¢xplaiu¢d in th¢
f￿an¢t87 s¢a¢ethents" and
(e) prepare the financial sthtements (>tt o going ¢onccrn basis unlcAS
it iy ¢onsidereA inappropriaie lo assume that thc Twst will ¢Otstinue.
The Tru8tees ore re8pt)n$ible for keeping properarcoun¢ing Tec()rds that disclLW with reasonable accuracy ai
any time ihe ruw￿la1 position of the Charity And enable th¢m to eLsure that the financial statements comply
with th¢ Cbari¢i¢5 Act 2011. the CbaTity (Accounts and ReFort8) Re8ulation8 2008 and the provi8lOll8 of the
S¢heme.
The Trustees are alyo responsible for safeguarding the 188¢ts of the Ch￿7¢Y and for takillg reasonable steps for
the ptYven¢ion and detection of fraud and oih¢r irreguloriLies.
Approved by the Trustees on 20, October 2Q25 und ilgned on thelr behalf by:
D.J. CORNEY
Chairnian

Independ¥nt Auditorfs Report to the Trustees ofThe Davenport Homes
Op¥iion
We have audited the finanual statements of The Davenport Home5 lthe'dTrriVI forthe year ended 31 March 2025 which comprfseofthe
statement of Financlal ActI￿ti￿, BalantÈShÈetand note5 tothe finanaal 5tatema)ts, uiduding slgnlflcantaccountSng pollo*. The financial
repO￿n8frarnewoIkthat has been applied intheirpreparation i%applicable law and Untted ￿ngdOM AttountlngStand3rds, including
Flnancial Reporting Stsndard 102 Ihe FAn0rJcAoIRe￿l￿w5tondafttapPlkoble In the UKortdRepublK oflrelundlunited K￿d0M General
Accepted Attounting Pra¢tlcel.
In our oplnSon theflnanclal stat£fnents:
givea truè falrvtew ofthèstate of the tharrws affaits a5at 31 Marth 202S. and oflts Incomlng resour￿ and applkatlon of
resources, kncluding Its income and expenditure, fortheyear then ended;
have been prowly prepared in accordancewlth Unlted ￿ngdorn GeneraltyAccepted Accounting Practke,. and
have been prepared In accordante wlth the requlrernentsofthetharities Act 2011.
BaslsforoFAnlon
We conducted ouraudil In accordance with Intemational Standard5 on Auditlng IUKI IIsA5 IUKII and applicable law. Our re4)onslbilities
under those 5tsndards are fvrther described In the auditor re5pon5ibilities for theaudlt of the flnandal statements settlon of our report.
We are Independ￿tOf the tharlty In accordan￿ vAth the elhlcal requlrements that are relevant to our audlt of the finandal statements In
the UK Includin8 the FRCS Ethical Standard, aNJ wehavefvlfllledour other ethtal responsibllitits in accordan￿ with these
requirements. We bellevethatthe audit evideno we haveobtained i55uflldent and approprlateto provide a basis for our oplnlcn.
Conduslonsrelatln8tO80kn8 concun
In audltlng the flnanclal ststements, we have crnduded thatthetrustee< use ofthe golngconcern basls of accountknB in the preparatlon of
the finatKlal ststeM￿ts Is apryoprtate.
805ed on thework we have performgj, we have rK*t identified any matwlal unc¥tslntles relatln8to trftntstyconditlons thaL Indlvldually
Of￿11e¢l￿eIy, may cast slgnthcant doubl on Ihetharitvs ablllty to continueas a golngtoncem fora perlod of at least ￿e￿Ie months from
when the flnandal statements ale authorlsed for kssu
Our reSpC￿55b1lItles and Ihe respjnslbllldes of the trwsteeswlth respect tO8olr8concem are desulbed In the relevant seci1c4￿ of thlg
report.
Otherlnlomiatlon
The other Information comprlses ihe Inf￿Malkln Indud&J In the trustee5' amual report. other than the financl31 ststemenls and our
auditorfs reportthereon.The trustees are responsible for theother Infomiation. OUr0F￿nion an the finandal statements does not coverthe
other Information and we do rnt expfessanyfom of assurdnce condusbn thereon.
Our responslbility is to read the other Information ar¥J, kn doI￿S0, tonsidwwhethertheotherinformatp)n Is materbally Inconslstenl wlth
thetlnancial StateM￿ts or our knowledge obtained in thecourseof tho audSt oroiherwlse appears to be Material￿ misstated. If we
Idenrifysuch materfal knconsSstend2s orapparent material misstatements, we are requIr￿1 to determkne whether th15 8Sve5 riseto a
material misststement in the financial ststoments themSe￿e$. If. basLxl on the wcrfkwe h￿e performed, we condude that the￿ isa
material misstatement of this other informat￿, we are required to report that fact.
We have nothlng to report In thls re8ard.
Matters rm we are requlred toreptyt byexw
We have nothlng to report In re5pectof the fo11th￿r￿Mart￿s in relat￿ntO which the (hdties (Aeeounts and Reports) Regulations 2CA)8
requlre us to report to you If, In ouroplnk)n'.
the Informadon wven in thetru5tees' rwt 15 In(onsb5tent ￿ any nkiterial rwwkhthe flnaNlal statements,. or
suffi¢l￿t accounUnB records have not kept. or
the finanaal ststements are not in a8Teement with the3CC￿Jnt[r8 records.. c
we have not recerved all the Informatlon eXplana￿onS we re(wireforour aud
Responslbllltlesof trust8•s
As explalned more fully In the trusteg responslbiliti&s statemenL the twsrees a￿ respL)nsible ts the preparation of the flnanclal
statements atKI for bekEs3tlsfied that theY￿￿e a true and fairwew, arKt for suth intemal control as thetrustee5 determine is neceS￿ry to
enable the preparntion offfinanoal statementsihat are free from material m￿statemen[ whether dueto fraud or err￿.
In p￿parjngtheflnanUa1 statements, thetrustees a￿ rost¥)nsible forasswwwthe tharitvs ablllty tocontinue as a going concem,
disclosln& 85 appllcable. matters related to goln8 concem and us•)gthe8oin8cO￿ern basil of accountkng unless the trustees either thtend
to Ilquidatethe tharity orto cease operatloll5, or have no realistic alt￿nat￿e to do so.

Independent Audltorfs Report to the Tru5tee5 of The Davenport Homes Icontlnuedl
Audltor rel￿nSIbIlItIeS1Ortht audttof thefknarKlal stater
We have been apw)Inted as audttor urKler 144 of theCharltiesAct 2011 and reportin aC0)rdan￿wIth the Att and idevant
regulations made orhavlng effect thereunder.
Ouroblectlves a￿t0 obtsin ￿&sonable3$sU￿￿8bO￿Whetherthe finanaa15tstements asa whdearefreefrom material m15Statement.
whotherduèto fraud ttr error, andto issue an auditorfs rwl that indudes our oplnion. Reasonable assurants Is a hl8h level of a55urance,
but IS nota guarantee that an audtt conducted in ac07rdan￿ ISA5 IUKI wlll a￿3¥5 detett a materkal misstatement Wh￿ It exists.
Misststernents can arise from fraud or erroraryl are considered mateyal if, i￿al￿dUally0r1n the aggregate, they could re350nably be
expected to Influen￿ the economlcdedslons ofusers taken onthe bas￿ ofthesefinandal ststernents.
Irregularitle5, includingfraud, are Instances gf non<ompliancewlth laws and re8ulatlons. We design procedures in line our
respons1￿Ittles, outlined above. to detect material m1ssta1em￿ts in re5pectof Irregular￿les. Induding fraud. The extentEO whkh our
pr¢ttdures are capable of detectln8 IrreBuLarlttes, Sndudingfraud is detailed bdow:
We identified areas of laws and regulatlons that could reasMatyy be expectedto havea materjal effect on thefinanaal statements and
dlscussed the poliaes and procedures regardlngtompliance.
Speafic areas consldered were asfollM-
EnquirinBwiih Manag￿rent and other5 logaln an understsndln8of thed)arfty ltsdf Including opwation5, financlal repordn8and
known fraud orerror.
Ewaluatlng and undetstsndingthelnternal CC￿trOl system.
Performin8anatytical procedurÉs as e%pected or Unexpectedvari?n￿ in acmunt balan￿ or Class￿ oftrans*lons appear.
Teslng documentstion suppOrtir￿ account balan￿ ordasses oftran5actions.
Owln8 to the Inherent Ilrnltatlons of an audit. thweiq an unmldatr￿e rtskthat we maynot have detected all Irregularl￿e5 Includlngthose
leading to materlal mlsstatements In thefinanoal ststements or rTh<oMplI*￿ wlth rewl*vJn, ev￿ though we have properly planned
and performed our audlt In accorda¢Ke with auditirE5tandard5.
Thls rfsk Increases the rrore that compllance wlth a Liw or regulatlon s refTrMd from the ￿ents and transactkin5 reflected in the flnanclal
statements, a5 we wll be less to become aware of instances of non<0m￿4a￿e. The rtsk Is also greater re8ardin8 lrye8ularftles
occurrlngdue to fraud talher than error. as fraud Invo￿ htent¥)nal conoalmenL f￿ery, cdlu51on, omis5Son ormisrepresentatlon.
Afvrther descriptlon of our re5ponslbilitle5 bavalableon the FRCswebsite at..
auditors
audit-
uditor-S-
re5
n51bilitie5-for.
-re5
f f.Thls de5LYlption forms part of our
?udltorfs ￿port.
We communlcatewlth th05e tharged ￿th goVernan￿regar￿ln& am0￿ other matter4 the planned scope ar￿ tlmlng of theaudltand
sl8nSflcant audlt flndSn8s, IncluthnB any 5knilkant der￿en￿e5 In Intemal ccffltrol thatwe 1d￿tIfy￿UrIng ouraudlt.
Useofour report
This report Is rnade Sole￿ to the tharlvstrustees. &q a bc#*. In acctydance Part4 ofthe Charities (Accounts and Reports) Resulatlons
2008. ￿raudItwork has been undertaken sothat we mwdht state ￿ thetharitV5 tru51ees those matters Wea￿ requlred to state tothern
In an auditorfs report and for other purpose. To the fiJ51est extent pemiitted by law, wedo not ac£ept or assume respJnslbllity to anyone
otherthan the tharlty and thechariV5trustees as a body, for￿j1 audll wort forthis reporL or forthe opinlons we haveformed.
nsllN'I
JW Hink4 LLP
Chartered Accountants and StatutoryAudhors
19 Hlghfleld Road
Edgbaston
8irmingham
West Midlands
38H
Da￿..-.....................

¥1

THE DAvE￿￿O￿T HOMES
BALANCE SHEET at 31 M*reh 21125
2025
2024
Fixcd Ass¢ts
TattgiTr)le a&8¢ts (Note 7)
Inve8trllents (Note 8)
2.169.331
3.326.022
2,067,916
3,268,927
5,495.353
5,336,843
Dcbtors (Note 9)
Bank and cash
4.230
32.007
13,076
24,149
36.237
37,225
Less Liabilitics
Amounts falling due within
on¢ yeor (Not¢ 10)
23.296
30,201
Nct CurT¢nt Assets
12.941
7,024
Net As8ets
£5,508294
£5,343,867
FuDdy (Note I l)
Incollle
Unre8tri¢ted Income
DeS18￿21¢d for Alutshowes
111.384
89,799
111,384
89,799
Capitsl
Expendable Endowmenl
Pennallent Endowment utilised for Atm8bou8e8
3.227,579
2,169.331
3.180,152
2.067,916
5,396.910
5.254,068
£5.508.294
£5,343,867
The notes on paB&8 10 to 17 forni part of these fmancial statements.
Approved by the Trustee8 1)n 20th OctoE*r 2025:
D. J. CORNEY
Mrs J. COVE
M. F. HOIFORD
Mrg M SPENCER
S. C. GOODCHItD
s. wtLLC(
COOKE

THE DAVENPORT HOMES
r4oTES TO THE FLNANCIAL STATEMEFM
for the ye¥Lr ended 31 Tr14rch 2025
l. Swllmiry of $iguificant accounting Policles
la) GenerAI informatton and basig ofprepar8tioD
The Davenport HOM￿ is an Ullinco4M)rntsd charity regis*red in EnglatLd
And Wales. The addre58 of the office is given in the Reference and
Administrative InfoTmatioll section page l of these financial siatements.
Thc charity's principal activities are tbe provision of bousing ￿comMOdatIon.
The charity ¢()nstitutes a public benefit cntiry &5 deftned by FRS 102. The
financi￿ StateM￿ts hav¢ be¢n prepared in accordancc with Accounting and
Reporting by Charities.. StaitrtDellt of Recommended Practice applic&ble to
to chariti¢8 pr¢paring theiraccounts in accordance with the FinanGi
Reporting Standard applicabl¢ in the iinited Kingdom and Republic of
Ireland IFRS I02) issued on 16 July 2014, the Ciwiiies Aci 2011 attd UK
Generally Aceepted Pra¢ti¢e as it applies from l Janullry 2015.
The fin8nci81 ststements have been pwered to gtve a'tswe end foi
view and have depdrted frorn the Chariiies (Accounts and Rwrts)
Regulations 2008 OT]ly io tts¢ ¢xt¢nt required to provide a'ttue and fair
view. Thi8 dcparture has involved loUowin8 the A¢coun¢ing and Reporting by
Chariti¢S.' Statement of Rccommcnded Practice apphcabl¢ to chariti¢
prq)aritig their a¢counts in Accordance with thc Financial Reporting
Standard applicable in the LK and R¢publi¢ oeireland {bRS 1021 issued on
16 July 2014.
The fjnanciai $ia¢ements are prepared on a goin8 concern b&8i8 under th¢
historical cost ￿nVentiOn. mcKlified to irt¢lude certain ttcms at fglir
valu¢. Th¢ financial statemen18 prepared in 8iLYling whi¢h 1$ the
fun¢uonal Curren￿ of th¢ chaTi¢y.
The 8ignificT￿I accountill8 policie8 applied in the prep4r4tion of th¢6¢
rinancial siatemenly Are Set oui below. The8e poiieies have been
e(m8i51cntly appli￿ to 4]1 ye4ry presented unle55 otheNise state
(b) Trund¥
Unreytricted are available for at the di%retion of the
trustees in furtherance of the general obj•xtiVes olthe charity.
De8ignY4ted ￿ndS are thos6 fimd3 which are uftr¢stricted in nature lut
which havc bccn designated by the Tn￿leeS to be ￿5¢d in u parti¢ul4r
Restric￿d fvnds are ffijnds which ore ¢0 be used in ac¢ordance with
specific r¢8triction8 xmpcK*d by dollors or which have raiscd by the
charity forparti¢ular purposes. The CO￿ of rat8ing and ad￿l￿terIng
such fiuKis are charged against th¢ specific fuo(L The clmrity Iw no
tricted ￿lld$.
Endowwertt funds represent those as8et8 w￿.¢￿ must ￿ held pe[u￿Lent1Y by
tbe Gkwity. In¢ome arising on the endowment funds can be used in
accordance with the objects of the clthrity aryd is included ￿ unrestrlcted
income. Any capital gaias or1058es arisitig Fo￿1 part of the fund. Ch¥rg&s
or leg￿ advice rclating to tILe fvnd are charged agaitist thc fitnd.
io-

TItE DAVENPORT UOMES
NOTES TO TRE FINANCIAL STATEMENTS
for the year ended 31 MArch 2025 {ctsn(inuedl
(e) tncome recognition
All incoming rssources are illclltded ill the Statemcllt of Financial Activities
{SoFAI wh¢u th¢ ¢h8rity is legally entitled io the income after ally
perforni&nce conditions have been MCL the amount c4n be measured reliably
and it i8 probable thai the ttieome will b¢ r¢¢¢ived
Ittve8tment iticorne 15 oarned through ]￿Iding wets for investment purposes
sueh as slLare5 and propety. It includes dividends, iDwesi and residents,
onthly COTJtributions. ￿There it 18 llot practic&ble to ida)tify investjnent
nagement costs incutyed withill a seheme with reasonable accuracy the
inV￿lIn¢￿t iucome is reported nct of these costs. It is included when tb
amuLLni can b? m¢wed ￿lIablY. loteresi income is recognised u8tng th¢
effective interest method, dividend inwme aDd r¢sidenls' monthly
conrributioL8 are reco8ttiqed &q the ¢b4rity'S rigb¢ to receive payment is
estsblishcd.
(d) Lxpendlture reeognltlo
All ¢KpEndi¢ure 18 aCCOUllt&l for OD an accruals bASiS and h&q be
Cla￿lfied under the h¢3ding8 that aggregate all costs relaied to the
category. ExpendJ"ttve ig re¢ogtits¢d wh¢r¢ th¢r¢ is a l¢gai or constrpjcuve
obligauott to make payments to third partie8, Lt is probabl¢ that th¢
settlLmertt will be required and the amount of the obli8ation can be measur
reliably. It ￿ cate8oriscd under the followrtig h¢ading8'.
- Expenditure on charitsble activities Includes the upkeep of abn8houses aud
bencfii8 forffsidents as well a8 the Administrative cos1&
- Otb¢r expenditure represents those items llot f￿]Ing into the ¢ategorie8
above.
Irrecovernble VAT 18 Charg￿ &8 an expens¢ against the acliviry for which
experAditure aroye.
(e) Governanee costs
Governance costs include those costs a&80ciated with tneetin8 the
con¥titutional and $¢atu¢ory requirements of The chariry and include
ccountancy fees, audit fees gnd ¢osts linked to the stra*gic management
of the charity.
(0 Tfinglble gsseti
Purchases of land alld buildin88 are capitalised at ¢osi. Awls
don&ted to the Iwt or acquired at le&8 than their current value
are capi￿liXed at the currwt value a¢ the date olacquisiuon.
Sub8equent expenditure on a fixryl that enhances the value of
the asset 18 capitalised. Any fixtures end fitting5 acquired on the
initial purclwe or erection of a building are capital]sed &s p8rt
of thc buildill8 W8ts. AU replameots of and fittings are
charged as a revenue expeDSe.
li

THE DAVENJ PORT HOMES
NOTES TO THE FINANCIAL STATEME.NTS
for the vear ended 31 MArch 2025 {continued)
ID Tanglble assets (conttnued)
Purchascs of furniDJn amd other equiprnenl ond any fLXtures and
fittithg8 d￿rn¢d to be addiitOL8. 88 distinct from replacejnents. ue
capitalised if the initial cost of tbe a&8et exceeds £2,(KM).
Othenvise the cost 1$ treated a8 a revenue expeJL8e.
Depreciation is writtell off fjxed assets at rn¢es appropriatc to
their usefid ee4Trnornic Itve& The ra￿ used are:
Frechold land
Fr¢¢I￿ld bU￿dIng9
Iyo per aiiiiiiln (E4lirnated life of100 years)
Furniture & w1pm￿t 200A per atjnum (Eqtitn8t¢d lifr of 5 years)
The Tru8tee8 review tILe cm)in8 V41ue5 of all fixed assets eaeb
year and in any case wbrre the net cwing value of an &sset 1$
higher its rc¢over8ble amount an charge is made to
write dowtt the net ¢aryin8 value to the lower tecoverable amowiL
(g) lllve8tmeDts
Invesknents are r¢wgnised initially at fAir vAlue which is nomthlly the
transaction pricc excluding trarL4&clion costs. Sub5equendy. they are
me&yured at fair valuc with changes r¢¢ognised in'net gall￿{105&esI on
AnvesuThents' in th¢ SOFA if thc shares are pubii¢ly traded or theiT fair
value can otherwise be me&sured rejiably. Othcr inve8th￿lts are zn¢asured &t
coyt le88 impairnienL
Current asset investment8 are short tern) highly liquid invesknents and are
held at Eair vulue. The8¢ include cash on deposii and cash equivaients with
a n￿l￿rity of less than one year.
(h) Debtors And ¢r¢dlior8 re¢¢Sv8blelpayAble Ivlibkn One year
Dcbtors and nlitor8 With no ststed interes¢ rn* and r￿e1VAble or payable
within one year arc w¢ord¢d at transaction price. Any loxsefj arising from
impAim)ent are recognised iti expcndittwe.
(l) Tax
The charity is an ￿eMpt ¢lwity within the meaain8 of schedule 3 ofthe
Charitlcs Act 2011 and i8 con5idcred ¢0 the tests set out in Paragraph
I Schcdule 6 Finance Aci 2010 and theref(Trre it meets the definition of a
olwity for UK Corporation tsx pu￿.
(i) Going con¢eTQ
The fit]Ancial Statements have been prepared on a going cott¢ern b&8is a8 the
trustees believe that no material uncertainrtes exist. The In￿lets bave
¢onsidered the level of ￿ttds held and the expect￿ level olincome and
expenditure for 12 months from authorising tbese financial ststcments. The
budgeted illcotnE and expenditure is sufficient with the level of reserve8 for
the charity to be able ￿ colltillue ￿ a goillg wncenL
-12-

THE DAVENPORT HOMES
NOTES TO THE Fif4ATr4CIAL STATEIIEliTS
for the year ended 31 NIarch 2025 {coDtinued)
tncome from oper#tillg activltles
202S
2024
Contributions from residents
Maintenance ¢harg&s
Gas cbarges
Contribuiions towards office costs
Other tticome
194577
3.603
170,262
4,466
2,000
49
52
£200,232
£176,777
Income from funds held by Investment tllADagers
2025
2024
tn¢ome from inveytmcnts listed
on a recogni9¢d slock ¢x¢hangc
85,804
86.076
Int¢￿￿t on funds held OD de￿it
£85,804
£86,076
ChArltable expendlntre
2025
2024
Upk¢¢p of almshouses and benefits for residents
Eleating lighting
WalLr rates and eoun¢il tax
Insur￿¢¢
Dep￿oi￿tIOn of building8
Repairs and reoewals
Equipment
Property
F3lat¢ ¢XPeDses
Salaries and penyiort Colltributions
Office expenses
Sundry expe
10,023
4,783
3,492
25,622
10,569
10,169
3,529
24.352
1,324
58,531
32,036
53,182
5,914
5,856
960
92,031
28.643
50,2?8
5.489
3.516
£200.763
£229.486
Ckargcd agflinst Pern￿ent Endowm¢nt
Depreciation
Ch2ryed agaiL$t Unrestricted tDcome
All other charitable expe￿8¢8
25,622
24,352
175,141
205,134
£200.763
£229,486
GovernAnee costs
2025
2024
AccDuntallcy and audit fe43
Tru8t¢e8' indemniiy iL8urance
Ot1￿ professional fee8
10.302
1,746
8,757
9,702
1.765
10,561
£20.805
£28,028
13-

DAVENPORT HOMES
NOTES TO THE FINANCIAL STATEMENTS
for the year ended 31 March 2025 Icolllinued)
RemullerAtlon other benefits
None of the Tnutees n¢eiv&s remuneration or otheTben¢fits from the TrusL
During tILe year D. Corney ￿CeiVed £638 (?024 £470). K. Cooke r¢ceiv¢d £1,383
(2024 £Nd), S. Goodchild rec¢ived £347 (2024 £Nil). M. H0]fO￿ received
£Nil (2024 £209) ond M. SPe￿tr received £Nil12024 £299) in rein)bursement
of out of wckei expense8 incurred on behalf for the TrtLyL
[￿rIng the year the average numberof ejnployees w&s l fijll-time and 2
p8rt-time {2024 1 fijll-time atld 2 port-time). Their totsi ren]uncration
w&s £53,182 {2024 £50.228).
T&nglble flxed assets
Fr¢¢hold land and u]wshouKs buili thereon
L*nd
Bulldlll%$
Total
Cost
At l April 2024
85296
2.589.090
2.674,386
AddiuoD8
127,037
127,037
At 31 Mar¢h 2025
85296
2.716.127
2,801,423
Depreciation
At l April 2024
606,470
606,470
Char8e for the peric
25,622
25,622
At 31 Mir¢lJ 2025
632,092
663,092
Written dowij Yalue 8131 Mareh 2025
£85.296
£2,084,035 £2,169,331
Written down Value al 31 Mawh 2024
£85,296
£1.982,620 £2.067,916
The Charity8 freehgld laod Ond buildings are slated at historie41 c081 a¢cL￿Ula*d
depr￿lation. Historical cost i￿ludeS ¢xpcrLditure that is dittctly aitribvtable to bring
the land and buildin8Y to a eondition neeesw f(Trr it to b¢ capable of operating in the
rn8nn¢r inlended by the Trustres. Depreciation is charged at l•/y of cost> per annum.
l4-

THE DAVENPORT HOLlffS
NOTES TO FINAPICIAL STATEMENTS
for the period eDded 31 Mareb 2025 (coniinuedl
Inveltments
2025
2024
Cogt of inV￿lMents lisied on
ognised Str)ck Fx¢hangc
At l April 2024
Purchases
Cost of 8a]es
2,459.851
509.865
(474,331)
2.377.734
455,610
(373,493)
At 31 Mar¢b 2025
2,495.385
2.459,851
Sutplu8 on revaluation
At l April 2024
Eliminated on ￿1¢5
Adjusttnent for th¢ period
765,991
(92,746)
125,061
615.472
(12,5421
163,061
At 31 MarGh 2025
798J06
765,991
Markei Value at JI M8r¢h 2024
£3,293.691 £3,225,842
Invcs¢m¢nts at MArket val￿tr ¢ompTtsed:
Gov¢rnmcnt yiock
Other fixed in¢Lrest secvritie8
Equities and uttit trusts
198,235
275.023
2.820,433
102,918
276,410
2.846,514
3,293,691
32,331
3,225,842
43.085
Uninvesced rash
£3.326.022 £3268,927
At 31 March 2025 ¢he Trust held the following investh)¢nt whi¢h individually repr&seThted
in ex¢¢s8 of 5(/*• of the kntsl value of the wrtfolio.
Vanguard Fund$ PLC 2,625 units
Market Valuc £213,695- 6.49Y•
The fair value of listed itiv¢8tm¢nts 18 detsrnjiaed by refrIa￿e to the quot
pri¢¢ f(Trr idenli¢al a&se(8 in an active Tn4rk¢t 4t ¢he balance sheet date.
All investsnen¢8 ure ￿rIed at their fair vaiuc. tnvattuents in equitie8
and [L￿￿j interest seeuritio4 arc a]1 traded ill quoied public wrk¢ts.
prirnaTily the L4)nth)n Stock Eleb￿¢. Holdings in common inve8tmeDt fjJlld8,
uttit trnsts and open-ended investtllent wnpani¢s are at the bid price. The
basis of fair value for qu01￿1 inkeslmellts is equivalent to the market
v￿1Ve, using the bid price. Ass¢t Sales and purchases recognised at
the d&te of trade at cost (that is their traDsaction value).
15-

THE DAVENPORT HOMES
NOTES TO THE FINANCIAL STATEMENTS
for tILe year eDded 31 March 202$ (continued)
Investments (Continued)
The n￿ill iisk to thc Charity from fujancial itiStrwlleDts lies in the
co]nbination of uncertain invasm)ent markets vo]atility in yield. Th
Clwity is reliattt on divid¢nd yi¢ld to fmance its work. Liquidiry risk
i8 anticipated io be low as all A&g¢ts are traded. The ChariW8
itivestments are maillly traded in markets with good liquidity atsd high
tradittg Yolumes. The Charity has no matrrial investment holdings iti
markeL8 subject to exclwjge controJ5 or tradillg restrietitsns.
The Charity manage5 these investment ri8k5 by retaini￿ expert adviser5
and oper4ting un invcstment policy that providu for a hj'gh degree of
diversification of holdings within invesmeni cla&w thaf are quoied on
recognised 510ck eKGhanges. The Cbarity docs not make uye of derivatives
atsd similar complex financial instruments as ir lak￿ the view that
itivesttn¢nts are held for their longer tenn yield tota] rcNrn and
hi810ric s￿dI¢S of quoted financial itt8trumcnts have shown that
volatility in ally part1¢u1￿ 5 yew pcriod will twrnlllly be correcte
Debtor•
2025
2024
DividendA al￿ inierest in transit
Sundry and Prepayments
1.700
2.530
1,855
11.221
£4,230
£13,076
10. Ll•bllltle$: Amounts falllng due wlthlTr one year
2025
2024
Accnthls
23.296
30201
£23.296
£30.201
11. Fllndj
The Tru.4t h&8 four funds, two of whi¢h are capital ￿nds, the Expendable Endowment
Fund alld th¢ Permanent Endowment Fund and two of which Are income funds. the
Designated for Almshouses Fund and the L￿￿trICted Income Fund.
The Expendable EndowÈnent Fund represents the Eclleral ofthe TNs¢ the
ittcome from which provides the Cb&rity'y incoming re80urccs. The Perrllanent
Endowment Fund has been utiliyed for the 8¢qui8ition of a]mshouses, land aod
buildings and cannot be di8tribut&L
During the year a transfer of £127,037]]as been m•le from tbe Expendable Endowmcnt Fulld
to th¢ Pemwietst Endowment Fund to match the expeadilure c4)italised.
The Unrcstricted Income Fund wresents the general unallocatcd income of the Charity.
Durin8 the year the Tnkn trallSfer￿d a net arn(WDt of £66,008 from the Unrcslricted
Income Fund to the Expendable Endowment Fun
16-

THE DAVENPORT HOMES
r40TES TO THE FtNANCL4L STATEWENTS
for th¢ year ended 31 Mareh 2025 (CODlinlled)
12. Anolysi5 of i8sets betweell fuTrd
DeslElIAted
lor
Almshouses
Income
Unrestricted
Iucorne
Tot&1
Debtor#
Uninvested cLgh
Bank and c&sh
4,230
98.443
32.007
4.230
98,443
32,007
134.680
134,680
Less.. Liabilities
23.296
23,296
£111.384
£111,384
CAplt41
Expendable
Pemanent
Endowment Endowment
Totgl
Tangible a&4et$
Ligted inve8lmLm
Uninvested cash
Bank and ¢a8h
2.169,331
2,169J31
3293,691
(66,112)
3,293.691
(66,112)
£3,227.579
£2,169.331 £5,396,910
13. Related party trATr8a¢tlons
Durin8 thc y¢ar the received £2,247 (2024.. £2267) in Tespect of otTiGe rental and ielephone,
frotn the W. E. Dunn Charitable Tnts4 a tswst of wbieh D. CorDey. ttwltt, is also & trustee.
At the year end there is a debtor frotu the W. E. Lkn Charitsble Th￿t of £243 (2024.. £247).
14. YeRr end cb*tt¥e
tts the prior period the trustees eleet¢d w ¢bange the year end frotn 5th April to 31rt March to ali8n
With month end reporting and adrninistrdtiY¢ purposes. As a resulL the comp4Trtive infornitttion
presented in the fJnan¢ia] statements (iti¢luditi8 th¢ related notes) may not be enti￿lY coraparable
in every respecL
17-