Chalty roglstratlon number 218376 (England and Wales) CLIFTON PARISH HOUSES ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 CLIFTON PARISH HOUSES LEGAL AND ADMINISTRATIVE INFORMATION Twstses Mr K C8hill Mrs L Palmer MrA Ha￿lS Mr D Pritcknard Mrs C Vthlle Chartty numbor 218376 Prlnelpal addr•ss Slonebank Chapel L￿e Daventy NN113YU Indeppndgnt oxamlner CottonsArtountants LLP Cheslnul F￿ld Cheslnul F￿d Rugby WarwicK%hlr United CV212PD Solicitorn HCR H8wlLqons Lancaster House Nunn Mills Road Northampio NortFwrylon8hwe NN15GE CLIFTON PARISH HOUSES CONTENTS Pag? Report of Ihe trusteas Independent examlneffs rewi statsment of Ilnancaal activltles Balance shaot Notes to the flnand81 statèmonts 7-13 CLIFTON PARISH HOUSES TRUSTEES. REPORT FOR THE YEAR ENDED 31 MARCH 2025 The Trustees pre8enl theirannual re￿rt aNJ ffinancyal statements forthe year ended 31 2025. Th8 fln&nck918tatements have been prepared In ar>X￿￿￿Xe Trhlth th& accounkng OiThes 8el cKrt in note 1 to the fInan(￿al 8tatsmenlg. Obfvctlves and actfvftlvs TPie object of the Charity Is Ihè rellef of povety andlor by lh& provlslon of housing accommodation for persons who are inhabitants of the Parish of C1ffton-UF￿-[)u￿$1￿rt tr whos8 spous&. porent. chlld. brother or slster shall reside in the area of beneffit on terms acthirvJ to their means. Charfty is aceumulaling raseNes wlth tha anlwatknn of pur￿aS￿7g and dgveloiMThJ LANI in thè ￿lIage or a(4uiring suitat48 properties to add to its portfolio. Thé Charfty currenlty has sixteen woperbes under nHwenl and mwnlenance conlrft)utions are 8ub8ldi89tJ from th8 galn8 èamed on tha Charlty's (*Jrr&nt a￿t Inve8tm8nts. Th8 total Ma￿et value of these Investments at 31st March 2025 w88 £253,167. The Su￿u$ lor Ihe year a11K￿￿ted to £55,479. A¢hl•vém•nts and p•rfornwic• Flnanelal revlow It Is the policy of the Charlty that unrestrKted funds ￿1¢h h￿e not been deswated lor a 8peufic 8hould ba maIntaIn￿ al a levd equivalent to be￿n three and six month's expenditure. The TnJ3lee8 cwsldgr that rgsgrves at this level wlll ensure Ihat. in the event of a swanificant drop In fundiThJ. bhey wll b& ab￿ to continue th8 Chartvs cumwrt actlvltts whlo ￿n￿dera￿On 1$ gven lo ways (n whl¢h add￿￿al tunds may ba r￿sed. Thls level of reserv88 has be8n maintain&1 throughout the year. Metrlcs Tha R8gulattY of Sockql Housiro r￿UireS all FbJJsiNJ A8s&ia1t￿s to a 8tsThYaTd 8et of calculation8 It rafars to as th8 'V8lue for Mon8y Standard,. The standard ￿￿oS the Regulatc¢s own metric definllions lo provide con8iStency acrtTr88 tho il Ik>gs w¥)t pemiit Housing Awxi8tK)ns to ame￿ Ihose definitions lo suit their . own circum8tan¢xs. 2025 2024 20Z3 2022 Roinvostmont New supply delivered Gearfng 0.0% EBITDA Intaresl cover (MRI) 0.0% H8adlln8 wlal ho￿81ng (x)sts por un £3,427 OperaliTrJ margin {social housing lett￿gs}6l.l% Operating margin (ove￿1} ROCE 0.0% 0.0% 0.0% 0.0% £2,698 66.9% 0.0% 0.0% 1.8% 5,276.8% £2.035 80.0% 1.8% 30,867.3 £1,gM 67.3% 61.1% 66.9% 67.3% 80.0% 3.1% 4.2% The above mefriG8 do not re&Yily compare kn the m8dium for 8maH8r Rwistsred Providgrs du¢ to the followiro.. 1. As a pro￿d￿ of 16 units. small chaw in costs 8 dr￿alle ¢ffe¢t ofthe metrlcs 2. The charfty operates ￿ a stable number of urMt3 a￿j has no lyxrowwgs The Trustees ¢￿￿nue to keep ￿der r￿W ways tn 45thich they may be atle to achieve Icrrter operating ¢x)3ts in future ygars, su¢h &8 ￿re pr08Ctfve maintewwth ￿9n$ to the tlsk of utwected repair bllls. CLIFTON PARISH HOUSES TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 The regulator asks prowder5 to lay out motrkx of I￿1r own th81 they ean measure themselves against. We have selected meth¢% whlch best refiect the Out￿8$ we 8re $0oking to d6llver Sn line with our busine55 plan for our rn$housè Ch8rfty. Thè regulator has also suggested th81 Almshouses who are ￿la1 prOV￿e￿ fom banthmaTking groups to 8nable thèm to rrEasure ther Vfm against other ¢x)mparable oryJanlsalons. In fvlure year5 Clifton Partsh Hou898 is very wlling to part￿1pate vAth any benchmarklTrJ group that comès to the Chaiitys attention ￿thIn a sIr￿lar area ol operati￿. 2025 2024 2025 Target Oc{￿pancY 11XJ% Con1rtbutions collected a5 % of ￿nt￿bUlon8 99.1% % of resklents completing annual questionnalro WA % of ltsms ryalS￿ In Arm11 quesUonnair8 that hav8 beèn tlos8d out during thè year 1c(I% 1(1)% 100% 11xJ% 34.48% NIA 100% 11XJ% There was no questionnaire completed In 2025 duo to 8ttenfjon on ihe CIO trar￿KOOn. No Com￿81n9 ware ra￿1vad durfNJ 2025. The Tru8tees have a&888sed the wnaior risks to whl¢h the Charfty Is ex[￿d. and are salsfled U)81 sy8tsms ar8 In Pla￿ to mltigmle exposure to the major ri8k8. Structure. governance and managemènt The charfty known as Cllfton P&ish Houses corryrised in conveyancg and twsl d8e(L% dated 2ThJ May 18￿, 4th February 1 ¥25 and 23rd Sépt8mb8r 1930 and the Charlty known as the Nurses ReEld&nce comprlsod In a conveyance and INSI deed dated 20th March 1933 were approved and established a8 lh& P8rlsh Housès Chwity Housing A￿%￿.0tiOn by Ihe Charity ComThkssiongrs on 241h September 1997. The Charbty Reg￿tratIon No. is 218376. The Trustee8 ad¢wt all thè ralevant as re[￿MMended by The Almshou8eAssod811on. Thts Trustee$ who seNed duriro the year and up to dats ofsIgnatu￿ ofthe firAndal statements were.. Mr Kevln CaMI Chaiman Mrs Lynda Palmer MrAan Harrts Mr Davkl Pdlthard Mrs Clare Mthtt8 Efforts wlll ¢x)nttiNJe lo re¢uurt furtherTrustees to enwe the t￿ttnUeS to w and reftects the communlty ol Cllfton that It sorv&s. The Twslees have set plans n KAa(* lo trAr￿￿tIon tha legal stabjs of the charity frcffj an uninci*porated trusl where Ihe Trustees have pe￿￿￿ liabllmy lo a CIO (Charllabl8 Irtcorporated Organwllonl. Tho transfer 1$ now expecled lo lake place on 31st March 2026 due lo IMg(MW régulatory due d111gen￿. This move is antirApated to enable Tru$t8esldlrectors to ￿ recrulted. The Trustees acknowledge and apprèoata tha wrlt of Ihe Code ol Govemance LsSu￿j bythe Charity Commlsslon and recommended by the Akr*hou8e A380(¥all(￿ gnd appty those ethents of oxle whieh tl n￿d￿r appropdat8 to the svzo and SCO￿ of yrdlions. Jrfng the y8ar the Tw8tees r8view￿l a Nmbgrof thelr pc4ldes on a rotatijnal ba818. kntmduclng naw ones thèra it was I*m￿dered approprfats. The Trustees ￿e￿eWed the rob and remuneratbn of the Cle￿, being of d)8Th￿S In socLql h￿j$1￿j I govemmenl legi￿all0￿ and K$￿￿g Wldes up to date. ThB Charlty (xn be contacled 1hrOu￿ its vla aarkloth8Trus188S@CllftonParf5hHou58s.org.uk and 07999021849. CLIFfoN PARISH HOUSES TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 The tr¥Jslees are required under legislalh)n rdaong lo Registered Sodal LAndkYds to prepare ffinanclal S￿leMents for each year whith give a Inja 8nd I￿r ￿eW of the state of 8ffalrs tsf tho 8$8odÈllon * th8 and of th8 flnanel81 yaar and of the Income and eXP6WKlliur8 ofth& asso(a8Uon fNthg year ende(l ¢n that d*8. In preparfng Ihe8e Ihancial ststemenls the tnth ￿e req￿r￿j to: . select sultable ac(x)untlng poffiryes WKI thom (x)n81818nly; . rnake reasonablo and prudent jUdg￿ents and eslimates: • State whetherapplfcabk aox)unfjng $t8ndards and stal¢nw)ts of rBryxnrnen￿ w8¢U(* have bgon foH¢)wad, and g￿& detalls of any departur8s; and . preparn the flnandol sta1&7wnts on 8 ￿ng (xJnc*rn basls unlèss In our vlew lh6 ass0dad￿ IMII tr unth8 to conllnu8 in buslnass. The trustetrs are mspon5ik4e for keeFxng proper ￿nIJ(￿J reC￿S that disdose reas(￿able accuracy at any Ume Ihe financlal posibon oflhe charity. The tr￿￿&S strmwld 8nsure that the Ac￿)untS CKJM with the Charities Act 2011 and the 2018 Stat8mént of Ré(x)mm8rYl8d Practls8 for reyist8r8d gA)d81 hous4ng providars. They al60 r&sponsib19 for 58feguardng the 8s3ets of lh8 d*rity hence fortaking reasonablg 8t8ps the prevetrtlon and detsctk)n of fraud arKI ottw Irregufariknes. Publlc benefit Thé trusteès ara satithd th81 thg activtbes of the tharlty ￿￿t ib charl￿e objecbkns as set out above, and ther￿ore provid8 a ben&fft to member5 of the putlic. On behalf ofthe Tru Mr K Cahlll Chalrmar) Dated: ..291.Q912Q25 CLIFTON PARISH HOUSES INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF CUFTON PARISH HOUSES I report to the Twslees on my examination of the llnandal 8tat8mAnts of alfton ￿L￿h Hous&s {th8 Charity) forthe year end&J 31 Marth 21J25. Rasponslbllftlès and basls of rèport The Twst¢es of tt)e Cllfton Pwlsh Houses gre restx)nsible for th8 preparatkn of the accounts, and they cOn￿der that thg Cllfton Parlsh Hous6s h oxenyt fmm an audlL 11 is my respJnsibNty lo cary out procedures desp3n&J to enabb us to rewi wropwk)n. Indopwd$nt examlnof8 Jtstemènl My procedures (x)nsIst￿ of cornparing thp ac(wnts vith th? acccwnting rec#Nds kept by th8 c11ftc￿ Parish Houses and maknng 8uch enquires of the D￿r¥ of the Cltfton Pa￿ Houses rx)nsldetEd necessary for the rpose of this reporL These procethres proV￿e the ￿lY assurdnce 8xprtsswJ in my q)Inlon. I have complèted my axamlnauon. In my oplnlon.. thg accounts for the year ￿ 31st March 2025 are In accord￿ the a￿U￿ting records kept by tho Cllfton Parish Houses uThJ¢r paragraph 135(2Xa) of the HoLÉskng and Regenerat1￿ Act 2008.. havlng r8gartl On￿ to, and on lh8 basL8 of Irff￿al￿on contoined in the ￿cOL￿ting records: - Ihe accfjurits u)mply with the rgqulrem8rts of the Ch8rit8sAci 2011: - the CArfion Parish HoLmS has Saltsfied the fAYKlibons for 8xemplK>ll frtKn an audil (Jfthg accourts fr)r thg year ended 31st March 2025 specified in sec11￿ 13613) of the Fk¥j￿ ar¥J Reggn8ration Act 2008; the a(xourrt3 wlh the requirements ol thg H(w¥iry and Regenerthn Act 2008 and the A(x¥)unOry Direction for prr4ate reWer￿1 provK*TS of s(thl In EThJand 2019. I havè no COn￿m8 and have come across no olher matters in ojnrtection wrth the examination to which attenfjon $h(xJkl ￿ drawn In thL8 rewyl kn ord&r tr) enable 8 pr(w understandlng of the financ4al statements to bts reached. Mr M WPalmer F.C.A CottonsAcwJnlants LLP Chg¥lnut Field H￿88 Chgslnut Fiehj Rugby Wornld(shire CV212PD United King¢kn CLIFTON PARISH HOUSES STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 MARCH 2025 Unrestrfcted Endowment funds lundB Totsl Unrestrlcted Endowmènt fund fvnds d081gnated Total 2025 2024 2024 2024 In¢om• from: ChaTht8ble acttvities InVeSt￿￿nts ,825 3,494 ,825 3.494 83.534 1.592 83,534 1.592 Total Incomo 94,319 94.319 85.126 85,126 endlture on: Charltsbk ￿1vIt19S 55.266 $5.2&8 43.552 43.552 Net gainslllosse81 Investments 16,426 16.426 14.332 14.332 Not movomont In fijnds 55.479 55A79 55.906 55,906 Fund balanc9s al 1 Ayll 2024 907,646 176,461 1,086.107 851.740 178,461 1,030,201 Fund balances at 31 March 2025 .125 178,461 1.141,586 7,646 178,461 1.086.107 The stalgmptrt of finandal acdvities I￿[L￿S a]J gains and ktsses TecoJnised in the year. All inromo and &xpondltur8 derive from ￿ntinUing actith. CLIFfoN PARISH HOUSES BALANCE SHEET AS AT 31 MARCH 2025 2W25 2024 Notss Fixed assets TangitAe a&8ets 10 756.6TI 757,110 Currant assots Debtors Investments Cash at bank and in ha 11 12 1.339 Z36,741 93,769 253,167 13S,034 389.403 331.849 Credltors: amounts falllng duo wlthln ono ￿•r 13 14.494) 12.8521 Net oJrr8nt ossots 328,997 Totsl assets less ￿rr*nt liabiliti4s 1,141,586 1.086.107 Incomo funds Designated funds Unrg8trlcted funds 14 178.461 .125 178.461 907.646 1.141.586 1,086,107 The finandal statsmer)ts were wroved by th8 Trustees syjned beh￿ by.. 2919.912Q25 Mr K CBhlll Chalmian Mr tLPrrtt*]a Trus CLIFfoN PARISH HOUSES NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AIARCH 2025 Ac¢ountlng pollcks Charfty Infomiation The Assoriatk)n 18 a ￿giste￿I tharlty aThl a reg(ster￿j s(K4 landlord. 1.1 Accountlng ¢onvwtlon Tho fInaN￿al stalem8nb have rxepar&l in accord￿ wrth the charity3 governiru docutnents. the Chariti88 Ad 2011 And th8 ststoM￿l of R￿Mènd&d p￿tle£ 'AcctsJntsrKJ by Registered knal Landlords 2018, and the Accounthng R8quirerri8nb Registeréd ￿181 Landlords General Detemiination 200fj applicablG to charities, preparing th￿r aC¥￿￿ts in accudance with the Finanual R0POrt st￿d￿ds akylicab18 In tha UK and RBpublic Df Ireland IFRS102 1A)- Th8 finanaal statements are prepar￿1 in 8terfiThJ, whth 18 th8 IU[KtK￿￿ I￿rren￿ of the Charfty. Monetary 8mounts in these financkal statements are r￿nded to the nearest£. 12 G￿ng concgm Al the time of apFKovlng thg financial statgments, lh9 Tnjstaes hav8 a msonBble expeciation ttMI th8 ￿artty has adequate resources to (￿Inue ￿ opwational existence for th8 fO￿S￿63ble fubjre. Thus the Trust998 eontlnue to adopt Ihe goiThJ corKem ba&s of acuuntiThJ in preparing ihe firwci81 stslgrnents. 1.3 Charltable fitnds Unrestricted fijnds we avaiLgble kn use at the d18c¥Bti￿ of Ihg Trustees Sn furtherance of their tharttable objecbves. Wllhin the chari￿le funds are intemalty restricted fund8 pw thg Chartys (>)vemlng Dowment. These are sel aside for Internal purp￿eS and are made up ot. Propety reserve £143.470 Cydlcal malntenanco £24,991 Extraordinary rep81rs £10.000 Total £178.461 1A Incomg Tumover represents weekjy m￿nIen￿ c￿ntributiOns. W￿1￿J1￿9 Ihe nothng off of 8ny we0￿Y malntenance Contributions nol rrfoiv¢d. 1.0. bad iknbts. servtce dwrges receTriable and revenue grants ￿e1V9b1• from central gK>vemment and a￿l￿)r￿@s. Exp8niSlur8 is recognised onc8 thern is a legal or conslTuL*ve (￿gatI)n lo transfer econ(Mnlc bon8fit to a third paty, it 18 prt)b8ble th814 tron8fgr of boneffts ¥&ill be required in settlement, and the anwnt crf the obligation can be measured relk3Lty. Expgndlturo Is by actfvlty. The ¢xJsts of eath athty are made up of tho totsl of ￿[r￿ c￿Sts and 8hared wst8, induding SUPFK>rt (wts invdved In urKlert8ktng actiwty. Direct ￿￿ts attributatrAe lo a singl8 activty are all0¢￿ted direcly to that athity. Shar￿1 Ix)8ts which u)ntiibute to more than one activity and support costs vknich are not attrityjtable to a activtty are apportioned b8trffj9n thos& activiti&s on a basls con8151ent wltt) the use of rw)urces. ￿traI staff costs are aloLz￿l M the b88B of gP9nL and depre￿ation charges are allocatsd on ths por￿￿ ol the awt's usa. 1.5 Tanglble fixed assets Tangible fix￿ assèts ar8 Inlljally m•asur8d 8t (xjst subs8qu8nty measured at o)st or valuation, net depreciation and impairment losses. ComptJteTS Freehold land and buihdings Housing ass0(ialvJn grant 25% stra￿Jh1 In6 0% CLIFfoN PARISH HOUSES NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Accounllng pollelès IContlnu8d) HouslTrJ properties are stated at cost less appluble grants. The provisions of Financkal Reporting SI￿dard 15 are a¢¢opt¢d by th& trustees. Fkn¥ever. tr* trust￿ eonslderlhat ts INos of th¢s& assets are $0 king and th¢ resldu81 values arg so hlgh that the is not Matsri￿. Grants for capitd eyFendliure are deductsy frDm the o)st of the flxed asset to whlch they resale as th6y become recafvable. Grants received In thnce of rdevant expendrbjre are IncI￿￿ed in CUTrTenl liabl1￿e8 and represent amounts to ba uUIIsGd in the next accountiig ￿0d. Grant clatms prlor lo the year end, In Tespect L# r818¥anl ax￿dItUrè Incurred, but not r8(dv8d unll aftèr Iha Y￿ Indudad In curr8nt S￿￿. Grants for rever￿ eXpendI￿re are c¥edited to the incajne and 8xp8nditure acc•Junt as they be￿rne 1.6 Cash and cash Équlv8l•nts Cash and cash equivalents indude cash In hand. deposits hehj at c￿[ vrith banks, oth￿ short-temi liquid Investsnents I￿¢h orkJlnd maturllès of thr89 nM)nths orlgss, and b8nk ovèrdrafts. Bank 0￿r&aftS Brg shown vAthln borrowlngs in Iwrrent IlabilWÈs. 1.7 Taxatlon The as60claUon has dHrfta￿e status and is ther91￿ not suty'wAto cOrp￿a￿On tax on its swplus. 1.8 Pènslon ￿$ts #nd oth¥r po$trtlrom•nt bondHs Th& Charlty p8￿CIpal•S In a d￿fi￿d contribution penthn Sch￿ quBSfyiw èmployo8s. The assets of the hgmo ar& ho￿ 8eparotsly from t1￿$8 of th8 Chadty in an irKlepgndently 8dminl3t9rgd fund. The c￿tributIonS payable by the Charlty are IrKaudwJ within expBnditure in the Statemnt of Financial Actiwlles in the pefiod to which they relats. 1.9 Valu* addod tax Thè ch8rfty ￿ not raglstarad for valu& tax ￿ ￿nsequ&n￿. th& charfty h&8 be￿ charged vpJuB added tsx by oxt6mal sUpp￿er$, flgwgs wlhkn the$8 finan081 stat8mgnts are recorded Inijusfve of v81u& add￿ tax. In¢om¢ from charllabl• a¢tMtIos Unrastrlet•d Unrèstrlct•d fvnds funds 2025 2024 Weokly mait)tsn8n(¥ Ix)ntrfbutk)ns ,825 83.534 CLIFTON PARISH HOUSES NOTES TO THE FINANCIAL STATEMENTS (CONTINUED> FOR THE YEAR ENDED 31 MARCH 2025 Investments Unrestrlctod Unr•strlcted fijnds Jnds 2025 2024 Inve8trn&nl In¢om8 3,494 1.592 Charltabl& actlvltles 2025 2024 Dépr8d8tlon Gardenlng Light and heat Clerk's fees eaning Substhptk)ns Insuranee 433 1.5 522 13.509 616 1,145 1.758 202 9,491 Y3,195 137 1.116 431 1,121 380 1.325 900 7,687 652 834 1.995 211 Profeswnal fees Pmp6ty maintsna Tdephone Audlt and Oc￿jn[ancY Sundry Other charitable expendibJTe 27.806 144 1.031 494 55,266 43,552 55,266 43.552 Not mov•m•nt tn futm 2025 2024 The net movement in 1$ stated alterdwgwW{(Thlrtl￿l. Foe$ payalAo for the Independ￿t ex8mhialion of th• c*8riVs finaxial statements Dep￿lat￿)n uf ¢hYned tangth fcntingont laNIIUes at 31 March 2￿25 or 31 March 2024 likèly to ¢rystallise vthFMn 12 ￿)nthS oflhe app￿0Val of the these a>xxJnt& 13-