THE CHARITY OF MARJORIE HURST UNAUDITED FINANCIAL STATEMENTS YEAR ENDED 31 MARCH 2025
THE CHARrrY OF MARJORIE HURST FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 Contents Page Registered Social Houslng Proer Information Réport of the Trustees Reporting Aceountants, Report Statement Of Comprehenslv? Income Statement Df Finanaal PDSition Statèment of Changes in resetves Notes to the financial statements
THE CHARITY OF MARJORIE HURST FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2026 R¢glstered Charlty number 215596 Règulator of Social Housing registration number A4057 Trustees of thè Charity Mr. D. R. Dallimorè, Chairman Mr A. Lloyd-Green Mr. P. A. Baron Mr. S. D. Amstrong Mrs. V. J. Young MBE Clerk to the Trustèes Mrs. S. Baron Registered office 1 St Peterfs Avenuè Knutsford Cheshire WA16 DDN Accountant Harts Ltd Westminster House 10 Westminster Rd Macclesfield Cheshirè SKI0 18X Bank?T Natwest Bull Ring High Street Norlhwich CW9 5BN
THE CHARITY OF MARJORIE HURST FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 REPORT OF THE TRUSTEES The Board of Trustees of The Chttrity of Maryorie Hurst presents ils report and unaudited financial ststements of the Reglstered Provider IRP) for the year ended 31 M8rch 2025. The Ch3rity of Maoorie Htjrst is a Registered Charity12155961 and a Registered Social Landlord IA40571. The Charity is an Almshouse Charity providing 8¢¢ommodalion for the elderfy. The Ch8rity operate5 exduslvely within the town of Knutsford. The Charity's Goveming Instrument 1$ 8 Scheme made by the Charity Commissioners on the 25 March 1983. The Board of Trustees The Trustees of the board who have served durfng the year were as follows= Mr. D. R. Dallim0- Chairman Mr A. Lloyd-Green Mr. P. A. Baron Mr. S. D. Amstrong Mrs. V. J. Young MBE The Charity's Goveming Instrument provides five Trustees lo be appointed by Knutsford Town Coundl. New Trustees are supplied with the Goveming Instrument, last Ascounts and a Copy of Standards of Ajmshouse ManagemenL They are invited to have an induction meeting wth the Clerk. Training for both new and semng Trustees is by attending seminars organised by the Mmshouse Association. The Trustees delegate th8 day to day management of the Trust tr) the Clerk, Mrs S Baron. Thè Charity's objectives The Charity provid¢$ almshouses for mature people in finan¢ial need who are resident in Knutsford. Public benefit statemènt The Trustees of the Charity malntsln the vlew that they have complied with the dity described in section 4 of the Charities A¢t 2011 to have due regard to the public benefit guidanG¢ published by the Commission. The Trustees have considered Ihis and believe that the Charity continues to act as a public benefit entity by maintaining the ten almshousss as quality housing for mature people at a cost well below market levels. mshotJsÈ vAcancies are advertised locally through loixl chartties, shops and chLtrches. by wotd of mouth and on the Charity's website. Qvalrfying applicants are interviewed and assessed in r&spect of financial and housing need and ac(xTrmmod8tion offèred tD those applicants deemed suitable and with the greatest need. Value for money delivering pury>os& and objectives including perforrnance metrics The Trustees of the Charity b81ievs that they have achieved value for money in delivering purpose and objectives by maintsining the len almshouses as quality housing for m8lure people at a cost well bEIow market levels. 2025 2024 OV• 0% Reinvestment New Supply (Social housing units) OA N¢w Supply (Non-social housing units) % Gé8ring % EBITDA MRI interest ¢ov¢r % Headline social housing cost £ Operating margin Isoo81 housing lettings}°A OpeTating margin loveralll / Relum on Capital employed -32% -260 £3,450 28• 55% £4,474 32Y¢
THE CHARITY OF MARJORIE HURST FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 REPORT OF THE TRUSTEES Review of activities and achievements The Charity has continued to keèp the almshouses in good condition and up-to-date. The boilers in all of the properttes are sewviced annually and water tanks in the cottages are inspBded annually for water quality. The quinquennial inspection of the properties in 2022 ¢0MMended a number of repairs and 5mprovements which have been implemented, for example, redeGoralion of the exterior and arranging entrrgy performance certificates for those properties wthout one. Five year electroal testing of the properties took place In November 2024 and all were found to be in reasonable c)r good condition. For a number ol years the Charity has been looknng at opportunities to acquire more properties for its portfolio. In 2021 the Charity loaned Ollerton Educational Foundalion, a small loo81 Gharity. £20k to renovate a derelict fom)er schoot house with a view to merging the two ¢h8rities. The Charity's Trustees made the decision in 2022 not to proceed with the tnerger bul the loan remains and is secured by a charge on the property while eaming interest fr>r tha charity. Since the year end. 108n, including capital and interest, has been repaid to the Charity- Review of financial posÉtion The Trust remains financially sound, showng 8 continuing surplus from operating activities despEte ongoing infflationary pressures. The Trust aInts1$ adequate and appropriate resetves. The reservos are hèld in a divèrse range of listed shares that are constanuy reviewed as well as in bank accounts to spread and diminish any risks. Cash funds are available in accessible accounts comprising a currerst account and two deposit 8¢Gounts. The Tnjstees are not aware of any other fa¢tor$ that are likely to affect the future perforniance OT the financial position of the Charity. The Tnjstees continue to look for opportunitiès to add more properties to the portft)lio in Knutsford town ntrp. Assessment of compliance wlth the Governance and Finaneial Wabilty Standard The Trustees of the Charity believè that they have remained compliant with the Govemance and Finanoial Viability Standard by delNering their aims, objectives and intended outrownes for residents and potential residents in gn ¢ffe¢tive. transparent and accountable rnanner. Thèir govemance has ensurEd that the Charity has adhered to all relevant law, complied with the Tnjsl Scheme and all regulatory requirements. They have remained accountable to residents. thè r8gulator and relevant Stakeholders while safeguarding taxpayers, interests and the reputation of the sector. The Charity in addSsing the matter of risk management and assessment has in place an extensive system intemal controls Includlng regular meetings. extemal accounts preparation. budget. management accounts, financial regulations and a variety of policies including a risk policy. Al of these ¢ontrols are periodically reviewed by the Twslees and are presenljy judged adequate for purpose. In this manner the Trustees considerthat they have protected social housing needs.
THE CHARrrY OF MARJORIE HURST FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 REPORT OF THE TRUSTEES Rgservgs Policy The Trustees nSider it prudent to maintain a Iiqltid cash r8serve to covèr day-taY maint¢nanGe of the properties c. £20,000. Code gf governance The Charity's goveming document sets out the requirements of the Scheme induding provisions for appointing TnJstees- the meetings and proceedings of Trustees,- the man8gement of the prortiEs,- insurance- management of income., and selection of residerrts. The goveming document requir8s five Trustees be appointed by the Town Counul. The Trustees serve for four years after which period Ih8y may put themsefves forward for r8-appointmenL At the now quartedy meetings, the Truslèes consider the issues surroundln9 the running of ttTe properties. Investrnerrts, reserves, risk management and performance. The day to day adrninistration of the properties is delegated to the Clerk. Thè Board of TnJsteÈs keèps the skill requirements for thg Trustèes under review and in the event that a Trustee perrnanently retIs, the Board notifies the Town Council. An appointment is made at a meebng coTrvened accoiding to the ordinary practice of the Town Council. Trustees do not need to be a mtsmkr of the Town Council. statement of r¢spon5ibiliti•s of thè Board of Trustees The Board is r&3ponsible for prep8ring the report and financial ststem¢nts in a¢cordance wth applicable law and regulation$. Registered social housing legislation requires the Board to prepare finanoal statetnents for each financial year which 9iv¢ a true and fair view of the state of aff8irs of the Charity and of its income and expenditure for that period. In preparing these f nancial statements. the Bo8rd is requirsd to= Select suitsblg accounting policies and then apply ihem ¢onsistsnUy' make judgements and 8stimates that 8re reasonable and PTudenL state whether applicable accounting standards have been followed. subject to any matèrial departures disclosed and explained in the financjal slatsments-, and prepare the financial statements on the going concem basis unless it is inappropriate to presume that the Charity will continue in business. Th& Board Is responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the Charity and enable tt to ensure that the finan¢ial statements compty with the Housing and Regeneratit)n Act 2008 and the Accounting Direction for Private Registered Providers of Social HoL55ing in England 2022. It has general responsibility for taking reasonable steps to safeguard the assets of the Charity and to prevent and delect fraud and othèr itregularities.
THE CHARrtY OF MARJORIE HURST FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 REPORT OF THE TRUSTEES We, the Trustees of the Board who held Offi at the dale of approval of these Financial St8t6ments as set put above each ¢onfimi, so far as we are aware, that: Ihere is no relevant accounting infomialion of which the Charity's accountsnts are unaware- and we h8ve taken all the steps that we ought to h8ve tsken as Trustees in order to make oursefves aware of any relèvant accounting information and to estsblish that the Charity's accountsrjts Ére aware of that information. By order of the Board Mr. D. R. Dallimore. Chaim)an
THE CHARITY OF MARJORIE HURST FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 REPORTING ACCOUNTANTS, REPORT Accountants, report to the Board on thè unaudlted accounts of The Charlty of Marjorie Hurst We report on Ihe accounts for the year ended 315t March 2025 set out on pages 8 to 17. Respective responsibiliti88 of thè Board and roporting accountants The Board of the Registered Social Housing Provider is responsible for the preparation of the accounts. and they consider that the Registered So¢i81 Housing Provider is exempt frorn an audit. It is our responsibility to C8rry out procedures designed to enable us to report our opinion. BasÈs of opinion Our procedures consisted of comparing the accounts with the accounting records kept by the Registered Social Housing Provider an¢ making such enouiries of the officers of the RegiStpred Social Housing Provider as we considered necessary for the purpose of this report. These procedures provide the only assurance expressed in our opinion. Opinion In our opinion= the accounts for year ended 31si March 2025 are in accordance wilh the accounting rec(*ds kept by the Registrd So¢ial Housing Provider under paragraph 135121{al ol the Housing and Regeneration Act having regard onty to. and on the basis of the infom)ation contained in the accounting records.. the accounts wmply wlth the requirements of th8 Chariti8s Attf 2011-, thts Registered Social Housing Provider has satisfied the condilioris for exemption from an audll of the accounts lor the year ended 31st March 2025 specified in sedion 136161 of the Housing and Regen¢rotion Act 2008.. the ac£ounts ¢omply with the requirements of the Housing and Regeneration Act 2008 and the A¢wunting Direction for pri registered providers of so¢(al housing in England 2022. David Taylor For and on behalf of Harts Limitsd Chart¢red Accountants Westminster House 10 Westminster Rd Macclesfield Cheshire SKIO 1BX Dated.. oj
THE CHARrrY OF MARJORIE HURST FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 STATEME OF COMPREHENSIVE INCOME {Including Income and Expenditure Account) 2025 2024 C¢ndMlng 0puaon$ Ing TOTAL TOTAL Turnover 48,132 45,377 Operating exp8nditur 134.5011 144,7401 Operating surplus l {dèficit) 13,631 637 Interest receivable 8nd dividend income Profit I Ilossl on fair value movement of investments 15.803 12,184 15,433 20,609 Surplus I Idefieit) on ordinary actNities for the year before tax 41,618 36.679 Tax on surplus I Ideficitl on ordinary activities Surplus I Idèficlt) for the year after tax 41,618 36,679 Total ¢omprehen5ive income for the year 41.618 36,679 Extraordinary income 5,000 Extraordinary expenditur¢ 13.694 Adjusted comprehenstve incom& for the year 41.618 27,985 Reconclllatlon of Funds Funds at 1 April 2024 561.792 533,807 Funds at 31 March 2025 603.410 561,792 Dated.. Signed on behalf of th8 Board of Trustees Mr.D.R.D limore, Chairman Mr. A. Lloyd-Green, Trustee
THE CHARITY OF MARJORIE HURST FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 STATEMENT OF FINANCIAL POSITION 2025 2024 Fixed assets Land and Buildlngs 341,933 341.933 Current assets Dèbtors Current asset investments Cash at bank and in hand 26,916 313,192 110,916 25,900 295.657 88.567 451,024 410.124 Creditors: amounts falling due within ont year 10 4,316 5,034 Net current assets I Iliabilitiesl 446,708 405,090 Total assets lèss current liabilities 788,641 747.023 Creditors: amounts falling du8 aft•r more than one y?ar 12 185,231 185,231 Total net assets I (liabilities) 603,410 561,792 The Funds ofthp Charity- Unrestrictsd Funds: Cyclical Maintenance Fund Extraordinary Repairs Fund General Fund 7,307 9,600 586,503 561,792 Total Charity Funds 603,410 561.792 The financlal statemenls were approved and authoris8d for issue. by the Board of Trustees on Sign on behaK of the Board (rfTrustees Mr. D. R. Dallimore, Chairman Mr. A. Lloyd-Green, TnJsteE
THE CHARITY OF MARJORIE HURST FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 STATEMENT OF CHANGES IN RESERVES Analysis of movement in funds General fund Cycllcal Extraordinary repairs fund Total maintenance fund At 1 April 2024 Incoming resources Expèndittjre Transfer Net Investment gains I {lossesl 561,792 ,935 134,5011 116,9071 12.184 561.792 63.935 (34.5011 7.307 9,600 12,184 At 31 klarch 2025 586 503 7,307 603410 Analysis of net assets bèlwètn funds General fund Cyclical m8intenanee fund Extraordinary repairs fund Total Land and Buildings Net curfftnt assets Housing Association Grant 341,933 429,801 1185.2311 341,933 446,708 1185,231) 7,307 9,600 At 31 Mar¢h 2025 586.503 9.600 603,410 In the cuent year transfers have been made from the General Fund to the Cydical M8intenan¢e Fund and the Extraordinary Repairs Fund as recommènded by the Almshouse Association. PRIOR YEAR Analysls of movement in funds General fund Cyclical maintenance fund Extraordinary rèpairs fund Total At l April 2023 Incoming Tesources Expenditure Transfer Net Investment 9alns / Ilossesl 533,807 65,810 158.4341 533,807 65,810 158,4341 20,609 20,609 At 31 March 2024 561.792 561792 Analysis of n&t ass•ts beeen funds General fund Cyclical maintenance fund Extraordinary repairs fund Total Land and Buildings Net current assets Housing Association Grarrt 341.933 405,090 1185.2311 341.933 405.090 1185.2311 At 31 March 2024 561,792 561792 10
THE CHARITY OF MARJORIE HURST FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 NOTES TO THE FINANCIAL STATEMENTS The notes on pages 11 to 17 form part of these accounts Summary of significant accounting polici•s la) General Infomiation and basis of preparation The Charity of Marjorie Hurst is a Registered Charity {2155961 and a privats Registered Provider IRP) of Soual Housing IA4057} in the United Kingdom. The address of the registered office is given in the RP infomi8tion on pagè 2 of thèse financial statements. The nature of the RP'S Dperalions and principal activities are that of an AlmshosJse Charity providing attommodation for Poor aged persons. The Charity operates exduslvety withln the town of Knutsford. The RP constittrtes a public benefit entity as defined by FRS 102. The finanryal stslements have been prepared In 8c(x>rdance with applicable 8cwynting standards including Financjal Reporting Standard 102 Ihe Financial Reporting Slondard Applicable in the UK and RepubliG ofirelaNd IFRS 102), the Statement of Recommendèd Practice for Social Housing Provide 2018 and with the Accounting Direction for pNvate règistered provider5 of soryal housing in England 2022. The financial statements are al80 prepared under the requirements of the Housing 8nd Regeneration Act 2008. The financial ststements have been prepared on a going concern basis under the historical Gost Eonvention. Tnod(fied lo include certain items at fair value. The financial statements are prepared in sterling. which i% the functional currency of the RP, and rounded to the n&orost pound. The significant accounting policies applied in the preparation of thes& financi81 statements are set out below. These pc4icies have been consislenuy appli8d tts 811 years presented unless utherwise ststed. Ibl Land and Buildings Tangible fjxed assets (including soci81 housing properties) are slated al cost lor deeméd cost) or valuation less accumulated depreciation and aGcumulated impairment lossés. Cost indudes Gosts dirèctly attributable to Man9 the asset capable of operating as intended such a5 the cost of acquiring land and buildings. developtnents Costs. interest charges on loans during the developrnent period and expenditure on improvetnents. Expenditure on improvements will only be capilali5ed when it results in incremental future benefits such as increasing rental income, reducing maintenance costs or resulting in a significant extension of the useful economi¢ life of the property. Depreaation is provided on all tsngible fixed assets, at rates calculated to writ¢ off the cost, less estimated residu81 value, of each asset on a systernatic basls over Its expected useful1rf9 Ss follows.. HoLtsin9 properties The useful economic lives of all tangible fixgd a$$ets are reviewed annually. The residual value of the propéites has been considered and is not deemed to be lowèrth8n cost. as such no depreatIon has been applied. 11
THE CHARITY OF MARJORIE HURST FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 NOTES TO THE FINANCIAL STATEMENTS Ic} Debtors re¢eivable l ¢rèdltors payable within one ygar Debtors and ¢dItorS w6th no slated interest rate and receivable or payable wthin one year are recorded at transaction price. Any losses arising from impairment are CogniSed in the st8t•ment of comprehensive income in oth8r administrative expenses. Flghts of soaal landlords to have improvemènt works carried out to properties by a third party (such as a local authority) are recognised as prepayrnents where payment has occurred in advance of the works being carried out and receipts in advance from the same third party reeognised as liabilities. Assets and liabilities or incom& and exper¢diture are not offseL {d) Investments Invesknents are recognised Inalty at fair value which 1$ ntjmially the transaction Pri ex¢luding transaction c(>sts. Subsequently. they are measured at fair value through the statement of comprehensive income rf the shares are publicly traded or their fair v8lue can othenvis8 be measLEred reliably. Other investments are measured at cost less impaimient. le} Loans and borrowing8 As the loan in the accounts constitutès a financing transaction il is eaSured at present valuts. lfj Turnover and other in¢om• Turnover represents rental and servi¢e ¢hargÈs income receivable in the year net of rent and seNice ¢harg8 losses Itom voids. Interest and diwdends reGeivable Interest income is recognised using the effective interest tnethod and dividersd Inc¢me is re¢ognised as the RP'S right to receive payment is established. Igl Government grants The Government grant originally from the Housing Corporation (now Hotnes England) received in respect of the capitalised renovations that took place beeen 1995 - 1997 is recognised at the fair value of the asset received. The assets ore accounted for using the cost model and th¢ 9ovemment grant is awounted for using the accruals model. The difference bÈtweèn the fair value of the asset and the consideration is recognised as 8 118bility and amortised over the useful econgmic life of the asseL The Govemmenl grant Is In respect of the propety which currendy has not been depreciated as per note 1lb)- As such no amortssation of thè Govemment 9rant required. 12
THE CHARITY OF MARJORIE HURST FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 NOTES TO THE FINANCIAL STATEMENTS 2 Partlculars of tumover and administratÉve expèndlturt from social housing lettings 2025 2024 Turnovérfrom soelal housin lettin Mainl¢nanG¢ ¢ontribution receivable 48,132 45,377 Totsl Turnover 48,132 45.377 eratin enditurg Management expenditure Clerk's Reffluneration W8rden ¢osl A¢counlan¢y InsLJrance Subscriptions Professional fees Training 8.500 2.993 2,334 1,315 1,088 720 6,600 4.442 2.220 1.319 675 190 15,446 16,950 Marntenance expenditure Routine maintenance Planned maintenanGe Major rèpairs èxpenditure Gardsn upkeep 3,891 9,193 3.248 16,733 1.312 14,396 22,044 Other expenditure Heat and light Telephone Print. post & stationery Travel costs Sundries Donations Bank & investment charges Profit I loss disposal fixed assets 321 615 168 152 37 302 1,630 180 4.167 7,250 113 254 2.200 260 3,155 Adminlstrativ• Oxpenditure on social housing Ipttings 34,501 44,740 Operating surplus l (dpficitl on soclal housing lettings 13,631 16371 Void losses 1,470 13
THE CHARtrY OF MARJORIE HURST FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 NOTES TO THE FINANCIAL STATEMENTS Accommodation owned and in management Numbèr of units at 1" April 202S Number of units at 315t March 2024 Sell-contained homes at affordable rent levels= Housing for older people 10 10 Interest receivable and divsdend income 2025 2024 Bank and building society deposi15 Dividends rèeeiv8ble Other interest receivable 2,757 11,356 1,690 2,446 11,376 1,611 15.803 15.433 Key management personnel The Trust¢¢s thernselves are not remuneratèd for their service whereas th¢ Clerk to the Trustees, Mrs S Baron billed a totsl of £8.500 12024.. £6.6001 for her servlces to the Trust during the year to 31 March 2025. Employees and Trustèès The average monthly number of stsff employ8d during the year was as follows.. 2025 2024 Clerk to the Trusteès Uns¥Jaried Ttustees Total 14
THE CHARrrY OF MARJORIE HURST FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 NOTES TO THE FINANCIAL STATEMENTS Land and Buildings Housing propèrtles for lettlAg Land rots1 Cost.. At April 2024 Additions during year Disposals 227.955 113.978 341,933 At 31 $1 March 2025 Depreciation: At 1si April 2024 Charge foryear 227,955 113,978 Al 31st March 2024 Net book value: At 31st March 2024 227 955 113.978 341933 At 31" March 2025 227 955 113.978 The properties at 50 - 60 Silkmill StrBel, Knutsford. Cheshire were constructed in th8 late nineteenth century and the is no record of the original ttost and no value is attributed thereto. The Housing Properties cosl relates lo improvements carried out betwe¢n 1995 - 1997, which were funded by grants from the Housing Corporation (now thè Regulator of Social Housing) and from the Charity's own resources. The propertie$ wère professionally value(I by Drivers Jonas, Chartered Surveyors on 27 November 1997 at £560,000 and the existing use value £280,000. No adjustment has bèen made for either of these values And the Trustee's consider that thè value of the properties is in excess of th8t shown on the balance sheet. The Charities SORP IFRS1021 states that a iangibl¢ fixed asset must be depreciated ov8r its useful economic life. The Charity should choose a depreciation method which reflects the use of the assÈt and the expected timing or consumption of ils economic benefits. This residual value of the properties has been considered and not deemed to be lower than GOSt, 88 such no deprsciation has been applied. 15
THE CHAR]TY OF MARJORIE HURST FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 NOTES TO THE FINANCIAL STATEMENTS D•btors 2025 2024 Trade debtors Prepayments Sundry debtors Ollerton Educallon81 Foundation 867 1,520 52 24,477 1,450 1,664 22.786 25.900 Current asset Investments 2025 2024 Listed investments Other investments 225.179 88.013 203.804 91,853 313,192 295.657 The fair value of list8d investments is detèrmined by referring to the quoted price for identical assets in an ¥Gbve mark¥t at the balance sheet date. Listed investment additions of £5,351 {2024= £4,261) werè made during the year whems the valuè of the listed investments rose by £16,024 12024.. rose by £12.4631. Olh8r investments Bomprise of a CCLA - COIF Charities Investment Fund Accumulation Units ERF Schetne with a value of £16.120 12024 £16.4471 and 8 CCLA - COIF Charities Investment Fund Income Units RetainÈd COIF Retums Scheme of £71,893 12024.. £75,406). The fair value of these other Investments is as per the Cethficate of Balance provided by CCLA which discloses the value of these Schemes as per the balance sheot dale. Th¢ value of these investrnents fell by £3.84012024= rose by £8.146). In tot81 the overall value of the investments rosè by £12.18412024= £20,e091. 10 Creditors.. amounts falling due within one year 2025 202 Other creditors- Trustees expenses Fiental income received in advance Accruals and defee income 200 393 4,441 757 3,559 4.316 5,034 16
THE CHARITY OF MARJORIE HURST FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 NOTES TO THE FINANCIAL STATEMENTS 11 Leaslng Agreements Minimurn lease payments under non-cancellable operating leases fall due as follows.. 2025 2024 Within one year Btheen one and fiv¢ y¢ars In more than fjve years 3,025 2.915 3,025 2.915 12 Creditors: amounts fallin9 due after morè than on• year 2025 2024 Defeed income- Housing Association Grant 185.231 185,231 13 ContÉng•nt liabilitiès As at the 31 March 2025 there were no contingent liabifilies. 14 Rèlatèd party transactions Out of pocket expenses tolalling £57912024.. £8241 were reimbursed to the Clerk, Mrs S Baron over the course ofthe year. Out of pocket expense5 totalling £85 were reimbursed to th8 Chaimian. Mr Dallimore. in resp$et af ChrÉstmas presents lor thè rÈsidÈnts. 17