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2025-03-31-accounts

REGISTERED CHARITY NUMBER: 217544

REPORT OF THE TRUSTEES AND

FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

FOR

BRIDGNORTH HOUSING TRUST REGISTERED NAME OF: BRIDGNORTH GENERAL MUNICIPAL CHARITY

FWC Advisory Ltd Wallace House 20 Birmingham Road Walsall West Midlands WS1 2LT

BRIDGNORTH HOUSING TRUST REGISTERED NAME OF: BRIDGNORTH GENERAL MUNICIPAL CHARITY

CONTENTS OF THE FINANCIAL STATEMENTS for the Year Ended 31 MARCH 2025

Page
Chairman's Report 1
Report of the Trustees 2 to 6
Report of the Independent Auditors 7 to 10
Statement of Financial Activities 11
Balance Sheet 12
Cash Flow Statement 13
Notes to the Cash Flow Statement 14
Notes to the Financial Statements 15 to 24
Detailed Statement of Financial Activities 25

BRIDGNORTH HOUSING TRUST REGISTERED NAME OF:

BRIDGNORTH GENERAL MUNICIPAL CHARITY

CHAIRMAN'S REPORT for the Year Ended 31 MARCH 2025

The Trustees continue to promote the aims and objectives of the Charity.

Properties

Repairs and renewals to the existing properties have continued throughout the year. Our focus remains to upgrade and renovate empty properties as they came available.

The project to renovate 4/5 Severn Street has now been completed to a very high standard.

Proposals to build further units of accommodation on our land adjoining St Stephens Place are still ongoing,

Trustees

There is currently 1 Trustee vacancy.

Residents

The occupancy rate for the year is 96.1 %. This figure is a great improvement on the past 2 years. Minor resident issues continue to take up a lot of office time.

Trustees remain committed to providing a safe and welcoming environment for all of our residents.

Governance

The Finance committee has continued in its excellent work in looking at the financial arrangements of the Charity in more depth.

Trustees acknowledge the work done by the selections committee in ensuing that the process to fill void properties with those most in need is expediated.

Finance

The Charity remains in a healthy financial position.

Staffing

Our Continued thanks to Joanne Talbot-Bibb as Clerk to the Trustees, and to Louise Davis assisting her with the finances.

Ms V Voysey – Chair – Trustee

20 November 2025

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BRIDGNORTH HOUSING TRUST REGISTERED NAME OF: BRIDGNORTH GENERAL MUNICIPAL CHARITY

REPORT OF THE TRUSTEES for the Year Ended 31 MARCH 2025

The trustees present their report with the financial statements of the charity for the year ended 31 March 2025. The trustees have adopted the provisions of the Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019).

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BRIDGNORTH HOUSING TRUST REGISTERED NAME OF: BRIDGNORTH GENERAL MUNICIPAL CHARITY

REPORT OF THE TRUSTEES for the Year Ended 31 MARCH 2025

OBJECTIVES AND ACTIVITIES Objectives and aims

The objects of the charity are:

(i) the provision of Almshouse accommodation for beneficiaries; and

(ii) such charitable purposes for the benefit of the residents as the trustees decide.

(iii) The relief of poverty (relief in need scheme)

The Charity owns 79 properties throughout the Town of Bridgnorth on 5 sites.

Beneficiaries of the Charity are appointed on licence using the following criteria:Persons in need who are inhabitants of the area covered by the former Bridgnorth District Council as at the date it was abolished and replaced by Shropshire Council (1st April 2009). Preference shall be given to women.

Trustees hold a list of people wishing to be considered for accommodation. When a vacancy occurs, the Trustees consider the list and decide using the above criteria who in their opinion is most in need of the available accommodation.

The Charity does not currently advertise for its waiting list.

Management

Trustees continue to revise and update their operational policies.

The Finance Committee continues to look at the financial arrangements of the Charity in more depth. Decisions from these meetings are ratified at the full Trustee meetings.

The Selections committee continue to meet on an ad hoc basis to select residents. Decisions from these meetings are ratified at full Trustee meetings.

Trustees

The appointment of trustees is based upon the skills and experience of potential trustees relevant to the Charity's objectives.

The Charity also looks for a variety of additional suitable skills and experience in addition to those offered by existing trustees.

Future plans, in the immediate future, are for the Charity to appoint a suitable trustee to fill the existing vacancy.

There remains 1 vacancy.

Mrs Helen Howell resigned on 23/08/2024. Mrs Sara Barlow joined the board of Trustees on 29/08/2024.

Beneficiaries

The Almshouse resident's ages currently range from 24 to 97.

During the year:

1 resident moved into residential care. 3 internal moves to more suitable accommodation.

3 residents have sadly died.

We have welcomed 3 residents to the Charity from a wide section of society. We have housed people facing homelessness, the disabled and those undergoing acute financial hardship.

It is the opinion of the Trustees that the charitable objectives have been met.

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BRIDGNORTH HOUSING TRUST REGISTERED NAME OF: BRIDGNORTH GENERAL MUNICIPAL CHARITY

REPORT OF THE TRUSTEES for the Year Ended 31 MARCH 2025

Properties

During this year 8 properties became vacant and following any works necessary were relet. Income loss during the year whilst higher than we would like, remains consistent with expectations due to the amount of work that has been undertaken.

Renovations to some of the vacant properties taken longer than expected due to the amount of work needed.

Public benefit

The Trustees have reviewed the Charity Commission's guidance on the requirement to report on public benefit. The Board is satisfied that the work of the charity, described below, accords with its stated objects and provides tangible public benefit to a wide section of those who reside within the charity's areas of benefit; the criteria used to assess those who may benefit are not unreasonably restrictive. Trustees remain committed to their charitable obligation to provide further homes whether through development of land already owned or through acquisition.

FINANCIAL REVIEW

Principal funding sources

The charity's income for the year totalled £492,475 (rental and associated income £473,428 and investment income £19,047). The charity's funds applied in the year totalled £345,659 leaving net incoming resources before gains on investment and other assets of £146,816.

Total net assets of the charity amounted to £15,612,647. The trustees are of the opinion that the charity has sufficient assets available to fulfil its obligations and future commitments.

Investment policy and objectives

It is the opinion of the Trustees that the investment performance has exceeded reasonable forecasts. The total investment value at 31.3.2025 was £697,823 compared to £756,625 on 31.3.2024.

Reserves policy

The Trustees have established, by way of transfer from the unrestricted funds, a cyclical maintenance fund and an extraordinary repair fund. Details of these funds are disclosed in the financial statements. It is the opinion of the Trustees that these funds are adequate for the repairs noted on the quinquennial reports.

STRUCTURE, GOVERNANCE AND MANAGEMENT

Governing document

The charity is controlled by its governing document, a deed of trust and constitutes an unincorporated charity.

Following an amalgamation of the following General Municipal Charities which had been regulated under a scheme of the Charity Commissioners dated the 23rd November 1934 The Bridgnorth General Municipal Charity was formed.

  1. The Almshouse Charity

  2. The Charity of John Guest

  3. The Charity of William Pulley

  4. The Spinners Charity

  5. The Charity of Walter Wrottesley

  6. Reverend Francis Palmer's Hospital (incorporated 15th June 2006)

The above mentioned Charities are administered and managed together as one Charity under the title of the Bridgnorth General Municipal Charity (Known as Bridgnorth Housing Trust) subject to and in conformity with the provisions of a scheme dated 26th June 1979;

amended 5th January 1988; amended 21st October 1998; amended 15th June 2006; and constitutes an unincorporated charity.

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BRIDGNORTH HOUSING TRUST REGISTERED NAME OF: BRIDGNORTH GENERAL MUNICIPAL CHARITY

REPORT OF THE TRUSTEES for the Year Ended 31 MARCH 2025

STRUCTURE, GOVERNANCE AND MANAGEMENT Organisational structure

There are 12 Trustees co-opted to the board for a period of 5 years.

Trustees shall be persons who through residence, occupation, employment or otherwise have special knowledge of the Bridgnorth area.

Day to day management and administration of the Charity is carried out by the Clerk to the Trustees, Mrs Joanne Talbot-Bibb, assisted by Mrs L Davis from the offices situated at The Office, Spinners Court, St Stephens Place, Bridgnorth, with advice from the Trustees.

Risk management

The Trustees have a duty to identify and review the risks to which the charity is exposed and to ensure appropriate controls are in place to provide reasonable assurance against fraud and error.

REFERENCE AND ADMINISTRATIVE DETAILS Registered Charity number

217544

Principal address

The Office Spinners Court St Stephens Place Bridgnorth Shropshire WV15 6AE

Trustees

Mr R V Davies Mrs H Howell (resigned 24/8/2024) Mrs J Durham Mr D Moorhouse Mr D Walker Mr T Brettell Mr C Rawlings Mrs V Voysey - Chairman Miss P Oakley Mrs N Cooper Mr J Gittens Mrs S Barlow (appointed 29/8/2024)

Auditors

FWC Advisory Ltd Wallace House 20 Birmingham Road Walsall West Midlands WS1 2LT

STATEMENT OF TRUSTEES' RESPONSIBILITIES

The trustees are responsible for preparing the Annual Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

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BRIDGNORTH HOUSING TRUST REGISTERED NAME OF: BRIDGNORTH GENERAL MUNICIPAL CHARITY

REPORT OF THE TRUSTEES for the Year Ended 31 MARCH 2025

STATEMENT OF TRUSTEES' RESPONSIBILITIES - continued

The law applicable to charities in England and Wales, the Charities Act 2011, Charity (Accounts and Reports) Regulations 2008 and the provisions of the trust deed requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources, including the income and expenditure, of the charity for that period. In preparing those financial statements, the trustees are required to

The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charity and to enable them to ensure that the financial statements comply with the Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the trust deed. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Disclosure of information to auditors

So far as the trustees are aware, there is no relevant audit information of which the charities' auditors are unaware, and each trustee has taken all the steps that he or she ought to have taken as a trustee in order to make himself or herself aware of any relevant audit information and to establish that the charities' auditors are aware of that information.

Approved by order of the board of trustees on 20 November 2025 and signed on its behalf by:

................................................................. Mrs V Voysey - Chairman - Trustee

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REPORT OF THE INDEPENDENT AUDITORS TO THE TRUSTEES OF BRIDGNORTH HOUSING TRUST REGISTERED NAME OF: BRIDGNORTH GENERAL MUNICIPAL CHARITY

Opinion

We have audited the financial statements of Bridgnorth Housing Trust Registered name of: Bridgnorth General Municipal Charity (the 'charity') for the year ended 31 March 2025 which comprise the Statement of Financial Activities, the Balance Sheet, the Cash Flow Statement and notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the charity in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the trustees' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charity's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report.

Other information

The trustees are responsible for the other information. The other information comprises the information included in the Annual Report, other than the financial statements and our Report of the Independent Auditors thereon.

Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

Matters on which we are required to report by exception

We have nothing to report in respect of the following matters where the Charities (Accounts and Reports) Regulations 2008 requires us to report to you if, in our opinion:

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REPORT OF THE INDEPENDENT AUDITORS TO THE TRUSTEES OF BRIDGNORTH HOUSING TRUST REGISTERED NAME OF: BRIDGNORTH GENERAL MUNICIPAL CHARITY

Responsibilities of trustees

As explained more fully in the Statement of Trustees' Responsibilities, the trustees are responsible for the preparation of the financial statements which give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the trustees are responsible for assessing the charity's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charity or to cease operations, or have no realistic alternative but to do so.

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REPORT OF THE INDEPENDENT AUDITORS TO THE TRUSTEES OF BRIDGNORTH HOUSING TRUST REGISTERED NAME OF: BRIDGNORTH GENERAL MUNICIPAL CHARITY

Our responsibilities for the audit of the financial statements

We have been appointed as auditors under Section 144 of the Charities Act 2011 and report in accordance with the Act and relevant regulations made or having effect thereunder.

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Independent Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

We gained an understanding of the legal and regulatory framework applicable to the company and the industry in which it operates and considered the risk of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations. This included those regulations directly related to the financial statements, including financial reporting, tax legislation and industry regulations including GDPR, employment law and health and safety.

We communicated the identified laws and regulations with the audit team and remained alert to any indications of non-compliance throughout the audit. We carried out specific procedures to address the risks identified.

These included the following:

In addressing the risk of management override of controls, we carried out testing of journal entries and other adjustments for appropriateness, assessing whether the judgements made in making accounting estimates are indicative of a potential bias and evaluating the business rationale of significant transactions outside the normal course of business.

Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation as to what extent the audit was considered capable of detecting irregularities, including fraud.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Independent Auditors.

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REPORT OF THE INDEPENDENT AUDITORS TO THE TRUSTEES OF BRIDGNORTH HOUSING TRUST REGISTERED NAME OF: BRIDGNORTH GENERAL MUNICIPAL CHARITY

Use of our report

This report is made solely to the charity's trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. Our audit work has been undertaken so that we might state to the charity's trustees those matters we are required to state to them in an auditors' report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charity and the charity's trustees as a body, for our audit work, for this report, or for the opinions we have formed.

FWC Advisory Ltd Wallace House 20 Birmingham Road Walsall West Midlands WS1 2LT

20 November 2025

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BRIDGNORTH HOUSING TRUST REGISTERED NAME OF: BRIDGNORTH GENERAL MUNICIPAL CHARITY

STATEMENT OF FINANCIAL ACTIVITIES for the Year Ended 31 MARCH 2025

Notes
INCOME AND ENDOWMENTS FROM
Charitable activities
3
Rental and associated income
Other
Investment income
2
Total
EXPENDITURE ON
Charitable activities
4
Expenditure on charitable activities
Net gains/(losses) on investments
NET INCOME
Other recognised gains/(losses)
Gains on revaluation of fixed assets
Net movement in funds
RECONCILIATION OF FUNDS
Total funds brought forward
TOTAL FUNDS CARRIED FORWARD		 Unrestricted
Restricted
funds
fund

£
£
472,903
-
525
-
19,047
-
492,475
-
345,659
-
(5,138)
-
141,678
-
2,851,733
-
2,993,411
-
12,619,236
-
15,612,647
-		 2025

Total
funds
£
472,903
525
19,047
492,475
345,659
(5,138)
141,678
2,851,733
2,993,411
12,619,236
15,612,647		 2024
Total
funds
£
413,913
613
19,067
433,593
397,196
47,912
84,309
-
84,309
12,534,927
12,619,236

The notes form part of these financial statements

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BRIDGNORTH HOUSING TRUST REGISTERED NAME OF: BRIDGNORTH GENERAL MUNICIPAL CHARITY

BALANCE SHEET 31 MARCH 2025

Notes
FIXED ASSETS
Tangible assets
9
Investments
10
CURRENT ASSETS
Debtors
11
Investments
12
Cash at bank and in hand
CREDITORS
Amounts falling due within one year
13
NET CURRENT ASSETS
TOTAL ASSETS LESS CURRENT
LIABILITIES
CREDITORS
Amounts falling due after more than one year 14
NET ASSETS
FUNDS
17
Unrestricted funds:
Revenue reserve
Unrestricted Extraordinary repair fund
Unrestricted Cyclical Maintenance fund
Revaluation of investment assets reserve
Revaluation of fixed assets reserve
TOTAL FUNDS		 Unrestricted
Restricted
funds
fund

£
£
15,949,819
-
697,824
-
16,647,643
-
20,228
-
54,516
-
30,736
-
105,480
-
(58,588)
-
46,892
-
16,694,535
-
(1,081,888)
-
15,612,647
-		 2025

Total
funds
£
15,949,819
697,824
16,647,643
20,228
54,516
30,736
105,480
(58,588)
46,892
16,694,535
(1,081,888)
15,612,647
3,980,228
56,368
205,403
472,397
10,898,251
15,612,647
15,612,647		 2024
Total
funds
£
13,005,792
756,625
13,762,417
14,797
4,307
35,938
55,042
(71,107)
(16,065)
13,746,352
(1,127,116)
12,619,236
3,864,690
26,334
181,037
500,657
8,046,518
12,619,236
12,619,236

The financial statements were approved by the Board of Trustees and authorised for issue on 20 November 2025 and were signed on its behalf by:

............................................. ............................................. Mrs V Voysey - Chairman – Trustee Trustee

The notes form part of these financial statements

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BRIDGNORTH HOUSING TRUST REGISTERED NAME OF: BRIDGNORTH GENERAL MUNICIPAL CHARITY

CASH FLOW STATEMENT for the Year Ended 31 MARCH 2025

Notes
Cash flows from operating activities
Cash generated from operations
1
Interest received
Net cash provided by operating activities
Cash flows from investing activities
Purchase of tangible fixed assets
Purchase of fixed asset investments
Sale of fixed asset investments
Transfer of current investment
Interest received
Dividends received
Net cash used in investing activities
Cash flows from financing activities
Loan repayments in year
Net cash used in financing activities
Change in cash and cash equivalents
in the reporting period
Cash and cash equivalents at the
beginning of the reporting period
Cash and cash equivalents at the end
of the reporting period		 2025
£
125,915
(209)
125,706
(92,294)
(11,337)
65,000
(50,000)
208
18,839
(69,584)
(61,324)
(61,324)
(5,202)
35,938
30,736		 2024
£
25,551
(199)
25,352
(20,219)
(11,549)
2,520
-
195
18,872
(10,181)
(59,088)
(59,088)
(43,917)
79,855
35,938

The notes form part of these financial statements

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BRIDGNORTH HOUSING TRUST REGISTERED NAME OF: BRIDGNORTH GENERAL MUNICIPAL CHARITY

NOTES TO THE CASH FLOW STATEMENT for the Year Ended 31 MARCH 2025

1. RECONCILIATION OF NET INCOME TO NET CASH FLOW FROM OPERATING ACTIVITIES

Net income for the reporting period (as per the Statement of
Financial Activities)
Adjustments for:
Losses/(gain) on investments
Interest received
Dividends received
(Increase)/decrease in debtors
Increase/(decrease) in creditors
Net cash provided by operations		 2025
£
141,678
5,138
(208)
(18,839)
(5,431)
3,577
125,915		 2024
£
84,309
(47,912)
(195)
(18,872)
13,717
(5,496)
25,551

2. ANALYSIS OF CHANGES IN NET DEBT

At 1/4/24 Cash flow At 31/3/25
£ £ £
Net cash
Cash at bank and in hand 35,938 (5,202) 30,736
35,938 (5,202) 30,736
Liquid resources
Deposits included in cash - - -
Current asset investments 4,307 50,209 54,516
4,307 50,209 54,516
Debt
Debts falling due within 1 year (60,392) 16,096 (44,296)
Debts falling due after 1 year (1,127,116) 45,228 (1,081,888)
(1,187,508) 61,324 (1,126,184)
Total (1,147,263) 106,331 (1,040,932)

The notes form part of these financial statements

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BRIDGNORTH HOUSING TRUST REGISTERED NAME OF: BRIDGNORTH GENERAL MUNICIPAL CHARITY

NOTES TO THE FINANCIAL STATEMENTS for the Year Ended 31 MARCH 2025

1. ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements of the charity, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Charities Act 2011. The financial statements have been prepared under the historical cost convention, with the exception of investments which are included at market value, as modified by the revaluation of certain assets.

Critical accounting judgements and key sources of estimation uncertainty

The preparation of the financial statements requires the trustees to make judgements, estimates and assumptions that affect the amounts reported for assets and liabilities as at the Balance Sheet date and the amounts reported of income and expenses during the year; however, the nature of estimation means that actual outcomes could differ from those estimates. The following areas of judgements (apart from those involving estimates) and estimates have had the most significant effect on amounts recognised in the financial statements:

Tangible fixed assets

The charity carries its tangible fixed assets at valuation, where they were acquired prior to the latest professional valuation, with changes in fair value being recognised in the Statement of Financial Activities. The trustees review the carrying value of the tangible fixed assets at each year end taking into consideration recent professional valuations and market trends

Income

All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.

Expenditure

Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.

Tangible fixed assets

Freehold land and buildings are stated at cost or valuation. Housing properties are included at valuation unless acquired after the latest valuation, in which case they are valued at cost. The value being based on existing use value for social housing. Full valuations are undertaken at least every 5 years, and an interim valuation is carried out in year 3. The trustees have not accounted for depreciation on its housing properties as their estimated remaining useful economic lives exceed 50 years.

Taxation

The charity is exempt from tax on its charitable activities.

Fund accounting

Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.

Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.

continued...

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BRIDGNORTH HOUSING TRUST REGISTERED NAME OF: BRIDGNORTH GENERAL MUNICIPAL CHARITY

NOTES TO THE FINANCIAL STATEMENTS - continued for the Year Ended 31 MARCH 2025

1. ACCOUNTING POLICIES - continued

Fund accounting

Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.

Extraordinary Repair Fund

The purpose of this fund is to fund large non-recurring repairs to the charities properties

Cyclical Maintenance Repair Fund

The purpose of this fund is to fund foreseeable, regularly recurring maintenance work on the charities properties

Capital Reserve Fund

The purpose of this fund is to provide funds for capital acquisition.

General Funds

General funds represent the free funds of the Charity which are not designated for particular purposes.

Investments

Investments are stated at their market value at the balance sheet date. Gains or losses during the year have been credited or debited to the Statement of Financial Activities in the year in which the gain or loss has been made.

Debtors and creditors

Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in expenditure.

Pension costs and other post-retirement benefits

The charity operates a defined contribution pension scheme. Contributions payable to the charity's pension scheme are charged to the Statement of Financial Activities in the period to which they relate.

Going concern

The Board of Trustees has reviewed the charity's financial position and consequently believes that there are sufficient resources available to manage any foreseeable operational or financial risks. The Board, therefore, considers there is reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. For this reason, the Board of Trustees continues to adopt the going concern basis of accounting in preparing the financial statements.

2. INVESTMENT INCOME

Investment income
Bank interest		 2025
£
18,839
208
19,047		 2024
£
18,872
195
19,067

continued...

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BRIDGNORTH HOUSING TRUST REGISTERED NAME OF: BRIDGNORTH GENERAL MUNICIPAL CHARITY

NOTES TO THE FINANCIAL STATEMENTS - continued for the Year Ended 31 MARCH 2025

3. INCOME FROM CHARITABLE ACTIVITIES

Activity
Rental income
Rental and associated income
Licences and heating
contributions
Rental and associated income
Other Income
Other		 2025
£
441,458
31,445
525
473,428		 2024
£
387,329
26,584
613
414,526
4.
CHARITABLE ACTIVITIES COSTS
Expenditure on charitable activities
5.
DIRECT COSTS OF CHARITABLE ACTIVITIES
Water rates and council tax
Insurance
Light and heat
Repairs and renewals
Grass cutting and garden maintenance
Mortgage interest
Loan interest
6.
SUPPORT COSTS
Expenditure on charitable activities
Support costs, included in the above, are as follows:
Governance costs
Wages
Pensions
Auditors' remuneration
Professional charges
Administrative costs		 Direct
Costs (see
note 5)
£
264,965		 Support
costs (see
note 6)
Totals
£
£
80,694
345,659
2025
2024
£
£
29,438
24,893
9,087
8,337
12,708
26,616
133,042
179,650
17,949
9,971
649
2,153
62,092
64,165
264,965
315,785
Governance
costs
£
80,694
2025
2024
£
£
43,758
43,802
1,564
-
4,100
3,900
20,269
24,261
11,003
9,448
80,694
81,411

continued...

-17-

BRIDGNORTH HOUSING TRUST REGISTERED NAME OF: BRIDGNORTH GENERAL MUNICIPAL CHARITY

NOTES TO THE FINANCIAL STATEMENTS - continued for the Year Ended 31 MARCH 2025

7. TRUSTEES' REMUNERATION AND BENEFITS

There were no trustees' remuneration or other benefits for the year ended 31 March 2025 nor for the year ended 31 March 2024.

Trustees' expenses

There were no trustees' expenses paid for the year ended 31 March 2025 nor for the year ended 31 March 2024.

8. STAFF COSTS

Wages and salaries
Other pension costs
The average monthly number of employees during the year was as follows:
Management and administration
No employees received emoluments in excess of £60,000.		 2025
£
43,758
1,564
45,322

2025
2		 2024
£
43,802
-
43,802
2024
2

The average number of employees is calculated on a full time equivalent basis, analysed by function.

9. TANGIBLE FIXED ASSETS

COST OR VALUATION
At 1 April 2024
Additions
Revaluations
At 31 March 2025
NET BOOK VALUE
At 31 March 2025
At 31 March 2024		 Freehold
property
£
13,005,792
92,294
2,851,733
15,949,819
15,949,819
13,005,792

continued...

-18-

BRIDGNORTH HOUSING TRUST REGISTERED NAME OF: BRIDGNORTH GENERAL MUNICIPAL CHARITY

NOTES TO THE FINANCIAL STATEMENTS - continued for the Year Ended 31 MARCH 2025

9. TANGIBLE FIXED ASSETS - continued

Market Values:
Wardle Close
St Stephens Place
Severn Street
10 Church Street
3 St. Leonards Close
Spinners Court
Various Land
Historic Cost:
Wardle Close
St Stephens Place
Severn Street
Spinners Court Development		 2025
£
235,000
4,719,994
4,409,305
610,500
964,000
4,947,270
63,750
15,949,819
2025
£
156,063
108,296
2,237,017
2,550,192
5,051,568		 2024
£
178,420
3,974,230
3,380,456
497,170
747,920
4,163,846
63,750
13,005,792
2024
£
156,063
108,297
2,144,721
2,550,193
4,959,274

All freehold land and buildings are used for direct charitable purposes. The freehold land and buildings were valued by Ress Associates, Chartered Surveyors, on the basis of open market values in August 2024.

None of the freehold property that is owned by the charity has been depreciated during the year ended 31 March 2025, nor for the year ended 31 March 2024.

10. FIXED ASSET INVESTMENTS

Market Values:
Opening values
Additions
Disposals
Net gains (losses) on revaluations during year
Closing values
Historic cost		 2025
£
756,625
11,337
(41,878)
(28,260)
697,824
225,427		 2024
£
699,683
11,549
(1,069)
46,462
756,625
255,968

There were no investment assets outside the UK.

continued...

-19-

BRIDGNORTH HOUSING TRUST REGISTERED NAME OF: BRIDGNORTH GENERAL MUNICIPAL CHARITY

NOTES TO THE FINANCIAL STATEMENTS - continued for the Year Ended 31 MARCH 2025

10. FIXED ASSET INVESTMENTS - continued

The market values of the fixed asset investments at the year end are as follows:

COIF Income Shares
COIF Accumulation Shares
M&G Charity Multi Asset Fund Income
M&G Charity Multi Asset Fund Accumulation
11.
DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
Rental and maintenance debtors
Debtor adjustment account
Other debtors
Prepayments
12.
CURRENT ASSET INVESTMENTS
COIF deposit
Bank deposit
13.
CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
Bank loans and overdrafts (see note 15)
Other loans (see note 15)
Trade creditors
Pension due
Accrued expenses		 2025
£
219,312
197,237
27,761
253,514
697,824
2025
£
12,280
1,090
1,903
4,955
20,228
2025
£
4,412
50,104
54,516
2025
£
42,296
2,000
3,432
235
10,625
58,588		 2025
£
219,312
197,237
27,761
253,514
697,824
2025
£
12,280
1,090
1,903
4,955
20,228
2025
£
4,412
50,104
54,516
2025
£
42,296
2,000
3,432
235
10,625
58,588		 2024
£
230,028
201,235
27,114
298,248
756,625
2024
£
11,449
(1,372)
-
4,720
14,797
2024
£
4,204
103
4,307
2024
£
58,392
2,000
1,909
224
8,582
71,107
2025
£
12,280
1,090
1,903
4,955
20,228
2025
£
4,412
50,104
54,516
2025
£
42,296
2,000
3,432
235
10,625
58,588

continued...

-20-

BRIDGNORTH HOUSING TRUST REGISTERED NAME OF: BRIDGNORTH GENERAL MUNICIPAL CHARITY

NOTES TO THE FINANCIAL STATEMENTS - continued for the Year Ended 31 MARCH 2025

14. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

Bank loans (see note 15)
Other loans (see note 15)
15.
LOANS		 2025
£
1,078,888
3,000
1,081,888		 2024
£
1,122,116
5,000
1,127,116
An analysis of the maturity of loans is given below:
Amounts falling due within one year on demand:
Bank loans
Mortgage repayable in less than 1 year
Other loans
Amounts falling between one and two years:
Bank loans repayable within 1 - 2 years
Mortgage repayable within 1 - 2 years
Other loans repayable within 1 - 2 years
Amounts falling due between two and five years:
Bank loans repayable within 2 - 5 years
Other loans repayable within 2 - 5 years
Amounts falling due in more than five years:
Repayable by instalments:
Bank loans repayable after more than 5 years
16.
SECURED DEBTS
The following secured debts are included within creditors:
Bank loans
Mortgages		 2025
£
42,296
-
2,000
44,296
43,846
-
2,000
45,846
141,481
1,000
142,481
893,561
2025
£
1,121,184
-
1,121,184		 2024
£
40,256
18,136
2,000
60,392
41,736
372
2,000
44,108
134,709
3,000
137,709
945,299
2024
£
1,162,000
18,508
1,180,508

The mortgage taken out by the charity was secured upon 1, 2, 6 and 32 Severn Street Bridgnorth, and their associated assets. The charge was satisfied in the year ended 31 March 2025.

The bank loan taken out by the charity is secured by way of a charge over the residential units held by the charity and located at St Stephens Place, Almhouses, 10 Church Street and Palmers Hospital, 3 St Leonards Close.

continued...

-21-

BRIDGNORTH HOUSING TRUST REGISTERED NAME OF: BRIDGNORTH GENERAL MUNICIPAL CHARITY

NOTES TO THE FINANCIAL STATEMENTS - continued for the Year Ended 31 MARCH 2025

17. MOVEMENT IN FUNDS

Unrestricted funds
Revenue reserve
Unrestricted Extraordinary repair fund
Unrestricted Cyclical Maintenance fund
Revaluation of investment assets
reserve
Revaluation of fixed assets reserve
TOTAL FUNDS		 At 1/4/24
£
3,864,690
26,334
181,037
500,657
8,046,518
12,619,236
12,619,236		 Net
movement

in funds
£
169,938
-
-
(28,260)
2,851,733
2,993,411
2,993,411		 Transfers

between

funds
£
(54,400)
30,034
24,366
-
-
-
-
At
31/3/25
£
3,980,228
56,368
205,403
472,397
10,898,251
15,612,647
15,612,647

Net movement in funds, included in the above are as follows:

Unrestricted funds
Revenue reserve
Revaluation of investment assets
reserve
Revaluation of fixed assets reserve
TOTAL FUNDS		 Incoming
resources
£
492,475
-
-
492,475
492,475
Resources

expended
£
(345,659)
-
-
(345,659)
(345,659)
Gains and

losses
£
23,122
(28,260)
2,851,733
2,846,595
2,846,595
Movement
in funds
£
169,938
(28,260)
2,851,733
2,993,411
2,993,411

Comparatives for movement in funds

Unrestricted funds
Revenue reserve
Unrestricted Extraordinary repair fund
Unrestricted Cyclical Maintenance fund
Revaluation of investment assets
reserve
Revaluation of fixed assets reserve
TOTAL FUNDS		 At 1/4/23
£
3,850,212
36,804
147,196
454,197
8,046,518
12,534,927
12,534,927		 Net
movement

in funds
£
37,848
-
1
46,460
-
84,309
84,309		 Transfers

between

funds
£
(23,370)
(10,470)
33,840
-
-
-
-
At
31/3/24
£
3,864,690
26,334
181,037
500,657
8,046,518
12,619,236
12,619,236

continued...

-22-

BRIDGNORTH HOUSING TRUST REGISTERED NAME OF: BRIDGNORTH GENERAL MUNICIPAL CHARITY

NOTES TO THE FINANCIAL STATEMENTS - continued for the Year Ended 31 MARCH 2025

17. MOVEMENT IN FUNDS - continued

Comparative net movement in funds, included in the above are as follows:

Unrestricted funds
Revenue reserve
Unrestricted Cyclical Maintenance fund
Revaluation of investment assets
reserve
TOTAL FUNDS		 Incoming
resources
£
433,592
1
-
433,593
433,593		 Resources
expended
£
(397,196)
-
-
(397,196)
(397,196)		 Gains and
Movement
losses
in funds
£
£
1,452
37,848
-
1
46,460
46,460
47,912
84,309
47,912
84,309

A current year 12 months and prior year 12 months combined position is as follows:

Unrestricted funds
Revenue reserve
Unrestricted Extraordinary repair fund
Unrestricted Cyclical Maintenance fund
Revaluation of investment assets
reserve
Revaluation of fixed assets reserve
TOTAL FUNDS		 At 1/4/23
£
3,850,212
36,804
147,196
454,197
8,046,518
12,534,927
12,534,927		 Net
movement

in funds
£
207,786
-
1
18,200
2,851,733
3,077,720
3,077,720		 Transfers

between

funds
£
(77,770)
19,564
58,206
-
-
-
-
At
31/3/25
£
3,980,228
56,368
205,403
472,397
10,898,251
15,612,647
15,612,647

A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:

Unrestricted funds
Revenue reserve
Unrestricted Cyclical Maintenance fund
Revaluation of investment assets
reserve
Revaluation of fixed assets reserve
TOTAL FUNDS		 Incoming
resources
£
926,067
1
-
-
926,068
926,068
Resources

expended
£
(742,855)
-
-
-
(742,855)
(742,855)
Gains and

losses
£
24,574
-
18,200
2,851,733
2,894,507
2,894,507
Movement
in funds
£
207,786
1
18,200
2,851,733
3,077,720
3,077,720

continued...

-23-

BRIDGNORTH HOUSING TRUST REGISTERED NAME OF: BRIDGNORTH GENERAL MUNICIPAL CHARITY

NOTES TO THE FINANCIAL STATEMENTS - continued for the Year Ended 31 MARCH 2025

18. RELATED PARTY DISCLOSURES

The charity has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with related parties.

There were no related party transactions for the year ended 31 March 2025.

-24-

BRIDGNORTH HOUSING TRUST REGISTERED NAME OF: BRIDGNORTH GENERAL MUNICIPAL CHARITY

DETAILED STATEMENT OF FINANCIAL ACTIVITIES for the Year Ended 31 MARCH 2025

INCOME AND ENDOWMENTS
Investment income
Investment income
Bank interest
Charitable activities
Rental income
Licences and heating contributions
Other Income
Total incoming resources
EXPENDITURE
Charitable activities
Water rates and council tax
Insurance
Light and heat
Repairs and renewals
Grass cutting and garden maintenance
Mortgage interest
Loan interest
Support costs
Governance costs
Wages
Pensions
Auditors' remuneration
Professional charges
Administrative costs
Total resources expended
Net income before gains and losses
Realised recognised gains and losses
Realised gains/(losses) on fixed asset
investments
Net income		 2025
£
18,839
208
19,047
441,458
31,445
525
473,428
492,475
29,438
9,087
12,708
133,042
17,949
649
62,092
264,965
43,758
1,564
4,100
20,269
11,003
80,694
345,659
146,816
23,122
169,938		 2024
£
18,872
195
19,067
387,329
26,584
613
414,526
433,593
24,893
8,337
26,616
179,650
9,971
2,153
64,165
315,785
43,802
-
3,900
24,261
9,448
81,411
397,196
36,397
1,452
37,849

This page does not form part of the statutory financial statements

-25-

BRIDGNORTH HOUSING TRUST REGISTERED NAME OF BRIDGNORTH GENERAL MUNICIPAL CHARITY CHURCH STREET ALMSHOUSES DETAILED STATEMENT OF FINANCIAL ACTIVITIES for the Year Ended 31 MARCH 2025

INCOMING RESOURCES
Investment income
Investment income
Bank interest
Incoming resources from charitable activities
Other income
Licences and heating contributions
Total incoming resources
RESOURCES EXPENDED
Direct Charitable Expenditure
Light and heat
Water rates and council tax
Insurance
Repairs and renewals
Other
Gardening
Support costs
Management
Office and administrative costs
Total resources expended
Net Incoming Resources before transfers
Transfer to designated funds
To/From Extraordinary repair fund
To Cyclical repair fund
From Cyclical repair fund
Net Incoming Resources for the Year		 2025
£
18,838
209
19,047
525
31,445
31,970
51,017
4,205
1,779
730
29,560
-
-
36,274
5,366
5,366
41,640
9,377
_
(6,494)
3,856
(12,625)
(15,263)
(5,886)		 2024
£
18,872
197
19,069
613
26,584
27,197
46,266
9,057
1,595
732
2,181
-
-
13,565
5,229
5,229
18,794
27,472
_
2,436
3,708
-
6,144
33,616

This page does not form part of the statutory financial statements - 26 -

BRIDGNORTH HOUSING TRUST REGISTERED NAME OF BRIDGNORTH GENERAL MUNICIPAL CHARITY ST STEPHEN’S PLACE DETAILED STATEMENT OF FINANCIAL ACTIVITIES for the Year Ended 31 MARCH 2025

INCOMING RESOURCES
Incoming resources from charitable activities
Rental income
Other income
Total incoming resources
RESOURCES EXPENDED
Direct Charitable Expenditure
Light and heat
Water rates and council tax
Insurance
Repairs and renewals
Gardening
Other reliefs
Support costs
Management
Office and administrative costs
Total resources expended
Net Incoming Resources before transfers
Transfer to designated funds
To/From Extraordinary repair fund
To Cyclical repair fund
From Cyclical repair fund
Net Incoming Resources for the Year		 2025
£
148,793
-
148,793
339
14,752
3,004
41,460
9,434
-
68,989
25,389
25,389
94,378
54,415
_
9,983
25,064
(19,397)
15,650
70,065		 2024
£
134674
-
134,674
612
12,850
2,604
49,085
2,162
-
67,313
26,489
26,489
93,802
40,872
_
14,197
24,103
(23,050)
15,250
56,122

This page does not form part of the statutory financial statements - 27 -

BRIDGNORTH HOUSING TRUST REGISTERED NAME OF BRIDGNORTH GENERAL MUNICIPAL CHARITY SEVERN STREET DETAILED STATEMENT OF FINANCIAL ACTIVITIES for the Year Ended 31 MARCH 2025

INCOMING RESOURCES
Rental income
RESOURCES EXPENDED
Direct Charitable Expenditure
Light and heat
Water rates and council tax
Insurance
Repairs and renewals
Gardening
Mortgage interest
Support costs
Management
Office and administrative costs
Total resources expended
Net Incoming Resources before transfers
Transfer to designated funds
To/From Extraordinary repair fund
To Cyclical repair fund
From Cyclical repair fund
Net Incoming Resources for the Year
Incoming resources from charitable activities
Total incoming resources		 2025
£
110,311
969
9,430
2,403
35,831
1,440
649
50,722
18,823
18,823
69,545
40,766
_
8,169
19,280
(6,878)
20,571
61,337
110,311		 2024
£
83,159
1,154
7,762
1,848
95,749
2,358
2,153
111,024
16,356
16,356
127,380
(44,221)
_
(44,762)
18,541
(8,687)
(34,908)
(79,129)
83,159

This page does not form part of the statutory financial statements - 28 -

BRIDGNORTH HOUSING TRUST REGISTERED NAME OF BRIDGNORTH GENERAL MUNICIPAL CHARITY THE REVEREND FRANCIS PALMER’S HOSPITAL DETAILED STATEMENT OF FINANCIAL ACTIVITIES for the Year Ended 31 MARCH 2025

INCOMING RESOURCES
Incoming resources from charitable activities
Rental income
Total incoming resources
RESOURCES EXPENDED
Direct Charitable Expenditure
Light and heat
Water rates and council tax
Insurance
Repairs and renewals
Gardening
Other
Support costs
Management
Office and administrative costs
Total resources expended
Net Incoming/(Outgoing) Resources before transfers
Transfer to designated funds
To/From Extraordinary repair fund
To Cyclical repair fund
From Cyclical repair fund
Net (Outgoing)/Incoming Resources for the Year		 2025
£
39,946
39,946
6,895
2,921
871
18,237
693
-
29,617
6,816
6,816
36,433
3,513
_
5,069
7,712
(12,890)
(109)
3,404		 2024
£
36,028
36,028
15,621
2,201
1,050
21,171
90
-
40,133
7,086
7,086
47,219
(11,191)
______
4,871
7,416
(7,658)
4,630
(6,561)
_

This page does not form part of the statutory financial statements - 29 -

BRIDGNORTH HOUSING TRUST REGISTERED NAME OF BRIDGNORTH GENERAL MUNICIPAL CHARITY WARDLE CLOSE DETAILED STATEMENT OF FINANCIAL ACTIVITIES for the Year Ended 31 MARCH 2025

INCOMING RESOURCES
Incoming resources from charitable activities
Rental income
Total incoming resources
RESOURCES EXPENDED
Direct Charitable Expenditure
Light and heat
Water rates and council tax
Insurance
Repairs and renewals
Support costs
Management
Office and administrative costs
Total resources expended
Net Incoming/(Outgoing) Resources before transfers
Transfer to designated funds
To/From Extraordinary repair fund
To Cyclical repair fund
From Cyclical repair fund
Net (Outgoing)/Incoming Resources for the Year		 2025
£
6,991
6,991
129
557
143
374
1,203
1,193
2,396
4,595
_
634
964
-
1,598
6,193		 2024
£
6,454
6,454
-
485
100
483
1,068
1,269
2,337
4,117
_
609
627
-
1,536
5,653

This page does not form part of the statutory financial statements - 30 -

BRIDGNORTH HOUSING TRUST REGISTERED NAME OF BRIDGNORTH GENERAL MUNICIPAL CHARITY SPINNERS COURT DETAILED STATEMENT OF FINANCIAL ACTIVITIES for the Year Ended 31 MARCH 2025

INCOMING RESOURCES
Incoming resources from charitable activities
Rental income
Other Income
Total incoming resources
RESOURCES EXPENDED
Direct Charitable Expenditure
Light & heat
Water rates & council tax
Insurance
Repairs & renewals
Loan interest
Support costs
Management
Office and administrative costs
Total resources expended
Net Incoming/(Outgoing) Resources before transfers
Transfer to designated funds
To/From Extraordinary repair fund
To Cyclical repair fund
From Cyclical repair fund
Net (Outgoing)/Incoming Resources for the Year		 2025
£
135,418
-
135,418
171
-
1,936
13,961
62,092
78,160
23,107
101,267
34,151
_
12,674
19,280
-
31,954
66,105		 2024
£
127,014
-
127,014
171
-
2,003
16,343
64,165
82,682
24,983
107,665
19,349
_
12,179
18,541
-
30,719
50,068

This page does not form part of the statutory financial statements - 31 -

BRIDGNORTH HOUSING TRUST REGISTERED NAME OF BRIDGNORTH GENERAL MUNICIPAL CHARITY MANAGEMENT, OFFICE AND ADMINISTRATION COSTS DETAILED STATEMENT OF FINANCIAL ACTIVITIES for the Year Ended 31 MARCH 2025


EXPENDITURE
Office salaries
Pension costs
Light and heat
Water rates and council tax
Insurance
Repairs and renewals
Telephone
Computer costs
Printing, postage and stationery
Bank charges
Audit costs
Professional charges – surveyors
Professional charges - payroll
Sundry expenses
Total Management and Administrative Costs
Total Management and Administrative Costs
Allocation of Management and Administrative Costs
Church Street Almshouses
St Stephen’s Place
Severn Street
Reverend Francis Palmer’s Hospital
Wardle Close
Spinners Court		 2025
£
43,758
1,564
3,235
830
323
608
858
1,232
399
715
4,100
20,269
447
2,356
80,694
80,694
5,366

25,389
18,823
6,816
1,193
23,107		 2024
£
43,802
-
2,245
758
817
575
1,357
1,021
568
800
3,900
24,261
416
892
81,412
81,412
5,229
26,489
16,356
7,086
1,269
24,983

This page does not form part of the statutory financial statements - 32 -