Powell and Welch Almshouse Charity Charity registration number. 218268 Financial Statements Year Ended 31 December 2025
Powell and Welch Almshouso Charity Flnanclal Statsmonts Yèar Ended 31 December 2025 Contents Page Trustees. Annual Report 14 Accountants Report Stat•mont of Financial AGtlvftlo5 (Incorporatlng a Rwonuo A¢¢ount) Balanc• Shaot Note8 to the Flnanclal Statoments 13
Accountants Roport to the Tru8ts88 on the Unaudlted Finandal Statémènts of the Powell and Welch Almshousa Charlty Adminlstratlvo Infomiatlon The Charity is regulated by lh8 Charity Commission, and the reglslratbn number IS 218288. The full name of th8 Charity is The Powell and Wel¢h mSuse Charity, and tts contact address is via the Clerk to the Trusl8es, at 5 P8dder Close. Lutterworth. LeKestershire, LE17 4YT. The Clerk to the Charty is Ms J Wright. Trustees of the Charlty The Trustees who have served during the year and since the year end v as folltrws: Mr Mike Gordon {Chair) Mrs Jane Edwards Mrs Bridget Higgins Mr Ken Patton (Treasurer) resJned 31 Marth 2025 Mr Adrian Foster (Treasurer) From 1 Jun& 2025 Mrs Plppa Beason resigned 31 March 2025 Mrs Carolyn Hubbard reslgned 31 December 2025 Mr Nigel Byard lex-orricio) The Charity is affiliated wth the National ASSlatIon of Amsh)use8. The Charlly had the foliNing professional advisers: RepDrUng Accountsnls PWH Accountancy Limited The Counting House Hlgh Street Lutterworth Leicestershire LE17 4AY Bankers Barclays Bank PIC Leicester Haymarket Towers Branch L8lcester LE19 1FU Objo¢tivos and actlvftles As a modern almshouse charity, we provid8 affordable housing in a rural area for local p8opI8 who are in neeé. Our residents are eldedy people of limited means who a arLepted as almshouse residents due to their urcumstanc8s and their inability to fund a home from their own resoUes.
Accountants Report to the Tru8teos on the Unaudlted Flnanclal Statemonts of the Powoll and Welch Almshouse Charlty Ravlew of the Year- 2026 Trustoos and thelr Roles After more than four years of stability, there were three changes lo the Trustees of the charity in 2025: Ken Patton {Treasurer) sl¢)od down 8fter g year8 of service èt the end of March Pippa Beason (Maintenance) also reslgned after 6 years al the end of Mard) Carolyn Hubbard {Residenl W&lf*e) reslgned at the end of December The Charty was pleased to welcome one naw Trustee durSng the year. and at the end of 2025 the Boar(I consisted of: Mike Gordon {Chairl Adrian Foster (new Treasurer) Bridget Higgins {Maintenance Projects) Jane Edwards (Resident Weffarel Nigel Byard IRector of Lutterworth with Colesba¢h and Bitteswell in the DIese of Leicesler, ex-orriao and attends AGM only) It is Intended to recrull al least one new Trustee in 2026. A part-tlme Clerk (Jane Wrlghl) was recruited during the year to support the Trustses with the running of the charty ar)d has done an excellent N)b so far. A Tfustee's Handbook is being created which will be completed in the Spring of 2026. Flnan¢es Net In¢ome of £27,2 wa8 generated in 2025 arKI al the end of the year investments, saving¥ and cash in hand amountsd to nearly £300,IKK). The charity has no outstandiry loans. In view of the healthy flnancial position of the Charity and the general increase in the cost of living, the Trustees again decided not to increase the Weekty Maintenance Conlr6bullons {WMCs} for residents in 2025 in line with the Homes England infialion formula. WMCS are therefore still malnlalned al Ihelr 2021 level. Property Malnt•nan¢a and Prolects The charity contlnued to maintain all the properties throughout the year. using appropriate tradesmen for a wide variety of lasks lo ensure that the properties r9mained in good order and continue lo offer a hlgh standard of accommodatlon for our Resid8nts. TWardS the end of the year Ihe fire protectlon systems for all of the almshouses wero upgradgd lo the most m¢xlern Standards. The Quinquennial Review Is due to take place in Autumn 2026 and a decision on this maller will be taken in the forthcoming AGM. idents and Welfar• Th wer'e no changes to the residents in 2025, and the ResKlents' Handbook did not require any updates ordon Chair March 2026
Accountants Report to the Trustees on tho Unaudlted Flnancial Statsments of the Powell and Wolch Almshouse Charlty from tho Treasur•r er 2025 Income from MaIntenan contributions was £48,745, having reduced 81igMly (by £601) from 2024 as a result of timing of payments from Residents. The intsrest on savings and income from Investments held increased to £8,603 (from £7,520) and there wa$ a significant iruease in the value of the Investment in the M&G accounts of £19,291 in 2025 (Compared lo £5,349 in 20241. Overall therefo the Charitys incom8 (inclusive of investment retums} increased to £74.639 from £60,216 (2024> Exp8ndlture increased from £17,529 10 £27.446 in the year. malnly as a result of the 8S9essmenl and renewal of some properties fire and smoke detectors and in a small part the employment of the part-time Clerk. Due lo the incfeased expendlture. C1$ operating surplus reduced lo £27,2 (from £37.337 in 2024) however wrth the addition of th8 M&G Investment Tetum it was £47.193. The Total Funds of the Charity now stand at £518.306 (compared to £471,113 in 2024} which Is broken down as follows.. £218.446 {42.19h} 15 held in properti8s- which is the almshouses themselv88 £186.683 {36.0%1 is held in financial Investments with M&G £113.160 (21.9%) is Nel CUrnt Assets, nearly all of which 18 held a8 cash In savings or in hand. Plans for Future Perlods The Charity is in a healthy fInarla1 situatiC and has sufficient reserves to meet 11$ futu liabllflFes. Within the next 6 months a quinquennial inspection is due and wtth some works Ilkety to be recommend& this will require additional expendibjre on the almshouses in 2026 and 2027. This properties of the charSty are being depreciat by 2% annually and our auditors have reminded the Trustees that although the almshouses are not deemed as investments, a revaluation of these assets would be required in the future rfthey were Intend to be us&J as seCuty on a loan. The Trustees will therefore consider whether a revaluation mlght fomi part of the qulnquennial inspection glv8n a surveyor is often appointed to them out. Adrlan Fostar Treasurer March 2026
Accourrtants Report to the Trusloos on tho Unauditgd Flnanclal Statomgnts of thg Powell and Walch Alm8hou8e Charity Tt•&*' r•sponsibiliti8s The trustees ar& r88pon8ltA8 for prèpamg thè Trusteeg Annual Report ond the ffinanual statents In ac£ordance 1th appllcablg law and Unliod KInn AccounlirvJ Standards (United Klngdom Gen8TaltyArwted AccountlTrJ Practicel. The law appllcabl8 to charflles In EtvJland & W8bslNorthem Ireland requlres the tr(rstees to prepare financkql statements for each financial y8ar whkh giv• 8 tru$ and fair wgw of the State of affalrs of tho chartty and of the IncornlrvJ resouTcas and application of resourens of the charfty for th81 perlod. In prepariro these )Ynancial slalements, the Iruslees are requir&J to.. Selt suitable accounting poIleS and then appty tham eon%$lonlty', obsaNe th8 m8th()ds and principl88 in the Charilles SORP 2015 IFRS 1021.. make ludg&m8nts and esllmates that are reasonable and prudent,. stale whether applicable acc£)unling stgnd8rd8 have been followèd, subi8¢t to any m818rfal d8p8rture8 di8c108ed and explained in the fincIal stat8m8nts' preparè Ihè ffinanci81 slatsmen16 on the golng concern ba81$ unless M Is inapproprlatg to PT8sume thot tho charity wll conunue In operaon. The trustees are r8sponslble for k8èping pmpar 8(xx)unting r8COTds that dlsdose reasonable aVraCY at any time the financial posilion of the charlty and ènable them to ensurg that the financial stal8m8nts comply with the Charilyas Act 2011. They are akn responwble for safeguarding the as88ts of thè charity 8nd hence for tsking re8son8bl8 st8P8 for1h8 prpventijn and dthticfi of fraud and other irregulartbes.
Accountants Report lo the Trustee8 on the Unaudited Flnanclal Statements of tho Powell and Welch Almshouse Charlty We ieixyt on the finandal stat8ments fDr th& year endad 31 0mbr 2025 sot oul on thg paggs b81ow. Re*p•¢tiv• rponSIbIlItI•8 of th• Trusto0$ and Reportlng Acwintsnt The Tru$loe8 8r6 rssponslble for th9 pr8parydtion of th8 Ilnanclal ststements, and they con6i¢Jer that The Powell ond Wekh Ajmshouse Charity is exempt from an audit. It is our responsibility to cary pti procedures deslgned to gnab19 U$ to report our opinlon. 8a¥ls of oplnlon Our pledureS cons6sted OfMp$An9 the ffinarrial statsments vthh the accounting rg(xxds képt Thg Pol11 and Wglch mshouse Charity and making suth enqulrfes of the officers of The Powell and Wel¢h Almshouse Charity as we consfQerèd necessary for the purpo888 of thss report prOcere8 provbjg wly tho assuran¢g oxpfe880d in i)ur oplnlon. Oplnlon In ovr orAnlon: the finanaal stat•m8nts for the year ond9d 31 December 2025 are In 8ccord8nce witti th& accounting Tecords kept by The Powell 8nd Welch Almshouse Charlty under paragraph 135121 of th8 Htsuwng and RggengfdlK)n Act 2008,. haThJ regard onty to. 8rKI on the basis of the Infonnation contained In tha o¢o)untlng word&. the Statem8nl of finan¢k91 activities and balaneA theet conwty th8 requlremènts ofth& ChaiiU88 Act 2011: the Powdl and Welch m$hOusa Charity has sab"sflèd thè ttjndity'ons for exemplon from an aud ofthe financial statemenis for Ihg year ended 31 Decemb¢r 2025 specffied In Bectton 163(31 of the HoudrYJ and Rogeneration Act 21XJ8,' and th8 flnandal ststements comply with thg rgquirem8nts of th8 Hou$lNJ and R8generallon Act 2008 and the AccounUng 01Cl for Private Registered Provfjdèrn for Soc4al Houslng 2012. PWH Aecountancy Llmltgd ReportltYJ A¢countsnts The Countlng H04 High Street Lutterworth Leicestershire LE174AY
Powell and Welch Almshouse Charlty Statsmant of Financlal Activiti08 for the Year Ended 31 December 2025 (incorporating a Revenu8 Account) 2025 2024 funds lunds FW Totsl Total ogllted No•2 Incomlng r•Urces Incomlng resourc•s from charttable actlvltles Maintenance conlrfbutlons InGorning resources from generatéd funds Investment in¢ome M18cellaneous income 46,745 46.745 47.346 8,603 8,803 7,520 Total Incomlng re80urco8 55.348 55,348 54.866 Resourw oxpend•d Charitabl8 actlvlties: Supported housing and houslng for almFK)use residents Governance c08t8 6.240 28,846 16,929 600 Total resourc •xpond•d 21.206 6.240 27,446 17,529 Net Incomel{expendliur•) 34,142 16,240) 27,902 37,337 Transf•rs b8twoon funds Oth•r reglSe(l galns". Gain51{10sses) on investments Not movement In fund9 19,291 19,291 19.291 47,193 5.349 42,686 34,142 16.240} ROnG11[atIon of funds: Totsl funds brought forwwd 268,180 37.867 165,066 471.113 428,427 Totsl funds carrlod forward 302,322 57,158 158,826 518,306 471,113 All income and expenditure derlve from ¢£vinUln9 activities. The stalemenl of flnanclal actlvilles Includes all gains and 10s5es recognised during the year.
Tho Powell and Welch Almshouse Charity Balan¢e Sheet Year Ended 31 December 2025 2025 2024 Fixed assets Housing properties Investments 218,446 186,683 224,686 161,069 405,129 385,755 Current assets Debtors Cash al bank and in haTr 617 113.160 474 85,484 113,777 89,958 Credltors: amounts falllng due wlthln ono ygar (6001 1600) Nat ¢urrent a8setsllllabllltle$) 113,177 89,358 Net a88ets 518,306 471,113 Charity Fund$ Gemral Fund Designated Fund Restricted fixed asset fund 302,322 57,158 158,826 268,180 37.867 165,Ck56 Total ¢harity funds 518,306 471,113 Approved on behaff of the Board of Trustees Mr M Gordon. ChaiThnan Date: Mr A Foster (Treasurer) The notes on pages 8 10 13 form part of these finartclal statements.
The Powell and Wolch Alm8hou8e Charlty Notes to tho Financlal Statements Yoar Ended 31 D8cember 2025 Accounting Policies Introduction and Accounting Bas1$ The finand#l statements have been prepared in accordance wtth appllcable financlal reporting standards, the Statement of Recommended Pra¢tice, 'Accounting By Registered Landlords, issLd In May 2005. and General Detemiinalion 2006. Flxed Assets Major expenditure on langible fLxed assets18 capttallsed. Depreciati)n is provided on all tangible red assets at rates calculated to Yfflte off the cost18ss estlmated residual value of each asset eventy over ti15 expected useful lffe on the following bases- land 18 not depreclated housing properties.. 2% per annum straight line
The Powell and Welch Alm8hou88 Charlty Notes to tho Financial Ststements Yoar Endad 31 D8comber 2026 Investment Income 2025 2024 Dlvidend Income Bank Interest received 6,958 1,645 6,219 1,301 8,603 7,520 Resourca$ oxp•nded R¢W¢t•d TCW F4Jnth T¢l41 F¥nd¥ GonW 045*natsd aBs•ts 2024 Charitablg actlvft108 Serrflces Water rates Repalrs and maintenance Insurance 2.325 15,254 1.667 2,325 15,254 1.667 1,892 5,033 1.614 19,246 19,246 8,539 Add: Othor •xpondfture Miscellaneous Govemance Depwplion 1,360 1,360 800 6,240 2,150 6.240 6,240 Totsl 1.960 6,240 8,200 Govgrnancg Accountancy fees Twstee expenses 6CK) 600 Ombudsman's fees 600 600
Tho Powell and Welch Almshouse Charlty Notes to the Flnanclal Stst•ments Year Endad 31 D•cembor 2025 Housing propertleg 2025 2024 Cost or valuation.. Al 1 January 2025 Additions At 31 December 2025 311,978 311,978 311,978 311,978 Depreciation.. At 1 January 2025 Charge for the year At 31 December 2025 87,292 6.240 93.532 81.052 6,240 87,292 Net book value.. At 31 DeCernr 2025 218,446 224,686 The Charitable Trust was established In 1847 and the orlglnal costs for th8 freehold land and lyJlldlngs ¢)wned by the Chanty are not known. The value of land included above is £63,000 10-
Thè Powell and Welch Almshou80 Charlty Notes to tho Flnanclal Statements Year Ended 31 D•cembor 2025 Fixed asset Investments M&G ERF Accumul'n Shares M&G Incom& Shares Tolal Cost or valuation Al 1 January 2025 Income for the year Unreallsed gain(lOs8O$} At 31 December 2025 147,661 6,323 17.895 171,879 13,408 634 762 14,804 161.069 6,957 18,657 188.683 Dgbtors 2025 2024 Prepayments a1 other debtors 617 474 617 474 11
The Powell and Welch Almshouse Charlty Nolas to th• Financlal Statemont8 Yoar Ended 31 December 2025 CrlIorS. amounts falling due wlthln one yoar 2025 2024 Accruals 600 12-
Tho Powell and Welch Almshouso Charlty Note8 to the Financial Stat•ments Year Ended 31 December 2025 Fund raconclliatlons Unre8trfct¢d funds Balance at 1* January 2025 Gains I (losses) Balance at 31st December 2025 Incomg Expenditure Transfers General Designated Restricted 268,180 37.867 165,066 55,348 (21,2061 302,322 57,158 158,826 19,291 {6.240) 471,113 55,348 (27,446) 19.291 518.306 Analys1$ of not assets botweon funds G&ierg1 ds DOnated Resmcted fid$ Tol Fix&J assets Investments Current assets Current Ilabilities 218.446 218,446 186,683 113,777 (600) 171.879 113,777 {600) 14,804 Total 285,056 14.804 218.446 518,306 .13-