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 ￿mS￿use 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) res￿Jned 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 ASS￿latIon 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 resoU￿es.

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 DI￿ese 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.
T￿WardS 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. C￿1￿$ 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 CUr￿nt Assets, nearly all of which 18 held a8 cash In savings or in hand.
Plans for Future Perlods
The Charity is in a healthy fInar￿la1 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 seCu￿ty 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
T￿￿t•&*' r•sponsibiliti8s
The trustees ar& r88pon8ltA8 for prèpamg thè Trusteeg Annual Report ond the ffinanual stat￿ents In ac£ordance ￿1th
appllcablg law and Unliod KIn￿n 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..
Sel￿t suitable accounting poI￿leS and then appty tham eon%$lonlty',
obsaNe th8 m8th()ds and principl88 in the Charilles SORP 2015 IFRS 1021..
make ludg&m8nts and esllmates that are reasonable and prudent,.
stale whether applicable acc£)unling stgnd8rd8 have been followèd, subi8¢t to any m818rfal d8p8rture8
di8c108ed and explained in the fin￿cIal stat8m8nts'
preparè Ihè ffinanci81 slatsmen16 on the golng concern ba81$ unless M Is inapproprlatg to PT8sume thot
tho charity wll conunue In opera￿on.
The trustees are r8sponslble for k8èping pmpar 8(xx)unting r8COTds that dlsdose reasonable a￿VraCY 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 0￿mb￿r 2025 sot oul on thg paggs b81ow.
Re*p•¢tiv• r￿ponSIbIlItI•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 pl￿edureS cons6sted Of￿Mp$An9 the ffinarrial statsments vthh the accounting rg(xxds képt Thg Pol￿11 and Wglch
mshouse Charity and making suth enqulrfes of the officers of The Powell and Wel¢h Almshouse Charity as we
consfQerèd necessary for the purpo888 of thss report prOce￿re8 provbjg wly tho assuran¢g oxpfe880d in i)ur
oplnlon.
Oplnlon
In ovr orAnlon:
the finanaal stat•m8nts for the year ond9d 31 December 2025 are In 8ccord8nce witti th& accounting Tecords kept
by The Powell 8nd Welch Almshouse Charlty under paragraph 135121 of th8 Htsuwng and RggengfdlK)n Act 2008,.
ha￿ThJ regard onty to. 8rKI on the basis of the Infonnation contained In tha o¢o)untlng word&.
the Statem8nl of finan¢k91 activities and balaneA theet conwty th8 requlremènts ofth& ChaiiU88 Act 2011:
the Powdl and Welch ￿m$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 01￿C￿l 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
o￿g￿llted
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 re￿g￿lSe(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}
R￿OnG11[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 ¢£v￿inUln9 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, issL￿d In
May 2005. and General Detemiinalion 2006.
Flxed Assets
Major expenditure on langible fLxed assets18 capttallsed. Depreciati)n is provided on all tangible r￿ed
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 DeCern￿r 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 a￿1 other debtors
617
474
617
474
11

The Powell and Welch Almshouse Charlty
Nolas to th• Financlal Statemont8
Yoar Ended 31 December 2025
Cr￿lIorS. 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
DO￿nated Resmcted
fi￿d$
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-