**REGISTERED CHARITY NUMBER: 218455**
Report of the Trustees and
Unaudited Financial Statements for the Year Ended 5 April 2025
for
Francis Willmer McAulay Memorial Cottages
Xeinadin Humber Limited 117 - 119 Cleethorpe Road Grimsby North East Lincs DN31 3ET
Francis Willmer McAulay Memorial Cottages
## Contents of the Financial Statements for the Year Ended 5 April 2025
|||Page||
|---|---|---|---|
|Reference and Administrative Details||1||
|Report of the Trustees||2||
|Independent Examiner's Report||3||
|Statement of Financial Activities||4||
|Balance Sheet||5||
|Notes to the Financial Statements|6|to|11|
|Detailed Statement of Financial Activities||12||
Francis Willmer McAulay Memorial Cottages
Reference and Administrative Details for the Year Ended 5 April 2025
**TRUSTEES** Mrs J Vincent (resigned 15.10.24) Mr M F Strawson Mr S G Falconer Mrs S Hampson Mr P D F Strawson Mr R Osmond (appointed 28.11.24) **PRINCIPAL ADDRESS** 82 Grimsby Road Cleethorpes North East Lincs DN35 7DP **REGISTERED CHARITY NUMBER** 218455 **INDEPENDENT EXAMINER** Xeinadin Humber Limited 117 - 119 Cleethorpe Road Grimsby North East Lincs DN31 3ET **BANKERS** National Westminster Bank PLC 39 Grimsby Road Cleethorpes North East Lincs DN35 7GB
Page 1
Franci
otta
illmer McAula
for the Year Ended 5 A "120
The trustces pr¢seni their report with the finwKial of the ¢h4rity for the year ended S April 2025. The tnJeeS
have adopted the provisiotts of A¢¢ollntin8 and Repornng by CTharities'. S1¢¢ of R¢wnmendal Prnctsce aFvlicable to
charities PTeparing iheir xcounts in a¢cordan¢e with the Fir)wKial RcpoTtsng Standard awlicable in the UK R¢public of
[reland IFRS 102) leffeaive l January 2019).
OWECnVES AND AcrivrriES
Pollclu and ObJe£tfveJ
The provision of Almshouses at Ayle5by foT aged inhabitsn8 Aylesby and the ncithixjuthood thereA)f.
The cAigin&l building consistrd of a block of six cott88es with an inte11 comtDDll rcA)rn which sitU8t&4 at the east end
of the block. All of thc cottages have been motkrnised afyj hav¢ central kntlTh8 in5¢alled. Th¢ TnLStees agretd to convert thc
¢omrnon r(M becom¢ccrttag¢ Dumber seven arwj this WL8 comple*d and0¢p in Novcmber 1995.
It is Folicy of the TTU5tees to rnainthin and improv¢ ¥ll the Almsho to a very high standlrd in order thjt all residctjrs may
live out their lives in cornfort eTMldigt)iiy.
Revlew of actlvltles
Durin¥ the financia] year the 5evM cotta8L4 have i%¢n rn•inwned a standard. The nrt mvement in funts, before net
gain5 on investtnents, for the ycar ended 5 Awil 2025 is 8 ios5 of £44012024 - ioss of £24,068) whi¢h hfts been d¢duc*d
from UnTe5trictcd Furth.
FINANCIAL RF.VIEW
Rutrvej policy
It is the Chwitgs p)li¢y to sufficient fuTK15 the tTh)rni commilmen¢ 1¢ h¥s to mttt its declar objectiv.
Publle Benefit
Francis Willmer M¢Aulay M¢nK>rial Cottages prode s¢vert almshousu in the village of Aylesby for the retired Ferso
of good ctwacter who are Fwr p¢tsons inhabiuns Ayl¢sby a1 the nei8hbouthood th¢reof. Preference is Biven ¢0 applicants
with a ruratyagncultural bknd. All the cottages are rnaintaincd to a very Iu"8h srandard in order that the residenrs may
live oui their lives in comfort M)d th"Bnity.
STRUCTURE, GOVERNANCE AIYD MANAGEMENT
Constitutlon
The tNst is a 'stered chan"ty, number 218455 op•xtsn8 from 82 Grirt*ty Rcrf aeethow, North E45t Lin¢olJJshI,
DN35 7DP and is governed by the thlarntiw of da*d 19Novemb¢r 1938. amts¥Jed on 4 April 1955.
Method of oppoltttment or elttdon oftrvfftL*
TTUStees ar¢ ch08Crt Cause of their sp141# k]se which will be ofbenefii the Chariiy. Tntste£s do Tmrt receive
tTaining from this Charity.
PrlndpAI *ttlYltle8
The plle of the charity 15 to maintain AlnLSboCS in the of Ayl#by for use by r*rg)ns of the pansh of Aylesby
ond th¢ swroynding di5trict&
App
ved by order of thc IK)ard of knjstett on 21 Octottt 2025 8Ni si its half by..
Mr S G Falconer- Trust£e
Page 2
## Independent Examiner's Report to the Trustees of Francis Willmer McAulay Memorial Cottages
## **Independent examiner's report to the trustees of Francis Willmer McAulay Memorial Cottages**
I report to the charity trustees on my examination of the accounts of Francis Willmer McAulay Memorial Cottages (the Trust) for the year ended 5 April 2025.
## **Responsibilities and basis of report**
As the charity trustees of the Trust you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('the Act').
I report in respect of my examination of the Trust's accounts carried out under Section 145 of the Act and in carrying out my examination I have followed all applicable Directions given by the Charity Commission under Section 145(5)(b) of the Act.
## **Independent examiner's statement**
I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
1. accounting records were not kept in respect of the Trust as required by Section 130 of the Act; or
2. the accounts do not accord with those records; or
3. the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination.
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
Jennifer Toulson FCA
Xeinadin Humber Limited 117 - 119 Cleethorpe Road Grimsby North East Lincs DN31 3ET
21 October 2025
Page 3
Francis Willmer McAulay Memorial Cottages
## Statement of Financial Activities
## for the Year Ended 5 April 2025
|Unrestricted
funds
Notes
£
**INCOME AND ENDOWMENTS FROM**
Other trading activities
2
30,415
Investment income
3
364
**Total**
30,779
**EXPENDITURE ON**
**Charitable activities**
Charitable
31,219
Net gains on investments
4,130
**NET INCOME/(EXPENDITURE)**
3,690
**RECONCILIATION OF FUNDS**
Total funds brought forward
248,924
**TOTAL FUNDS CARRIED FORWARD**
252,614|Restricted
fund
£
-
-
-
-
-
-
18,894
18,894|5.4.25
Total
funds
£
30,415
364
30,779
31,219
4,130
3,690
267,818
271,508|5.4.24
Total
funds
£
26,394
590
26,984
51,052
15,113
(8,955)
276,773
267,818|
|---|---|---|---|
The notes form part of these financial statements
Page 4
Cotta
Balance Sheet
5.4.
Total
5.4.24
fimds
fimds
FIXED ASSETS
Tanglble assets
TnvestmenL8
4119)
182289
18.894
60.793
182289
60,793
178.159
224.188
18.894
24J.082
238.952
CURRENT ASSETS
Debiors
Inve$tmenL8
Cash at bank
3,8(
3,804
719
25,9f2
25.972
29,497
29.776
29.776
30216
CRF,DI'I'OXS
Amount$ falling due within ye
{] J50)
IlJ50}
11,350)
NET CURREIYT ASSETS
28.426
28.426
28.866
TOTAI. ASSETS LESS CURRENT
LIABILITIES
252,614
1&894
271J08
267,818
NET ASSETS
252,614
18.894
271J08
267,818
FUNDS
Unre8tricted fill
Restricted fvnds
10
252.614
18,894
248,924
18.894
TOTAL FUNDS
271 J08
267,818
The fjnancial statements were approved by the Board of Tn¢¢$ and aUt1$¢d for issue on 21 October 2025 and were
signed on its by:
Mr S G Fal)1. Tntee
The n¢5 fonnpArt of th¢s¢ fiwiaj stst¢ments
Francis Willmer McAulay Memorial Cottages
Notes to the Financial Statements for the Year Ended 5 April 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.
## **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**
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
- Equipment - 10% on cost
## **Fund accounting**
General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the charity and which have not been designated for other purposestrustees.
Designated funds comprise unrestricted funds that have been set aside by the Trustees for particular purposes.
Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the charity for particular purposes. The costs of raising and administering such funds are charged against the specific fund.
Investment income , gains and losses are allocated to the appropriate fund.
## **Investments**
Investments are stated at market value at the balance sheet date. The Statement of financial activates includes the net gains and losses arising on revaluations and disposals throughout the year.
## **Housing properties**
The Housing properties comprise freehold land containing 2 acres, 3 roads or thereabouts situated at Aylesby, North East Lincolnshire and having a frontage of 300 feet or thereabouts to the road leading from Aylesby to Great Coates with the 7 Almshouses and other buildings thereon, known as the Francis Willmer Memorial Cottages.
Page 6
continued...
Francis Willmer McAulay Memorial Cottages
## Notes to the Financial Statements - continued for the Year Ended 5 April 2025
## **1. ACCOUNTING POLICIES - continued**
There is no record of the original cost of the cottages so an assessed value of £2,000 at 13 September 1929 has been used. The remainder of the cost figure relates to subsequent improvements to the cottages funded by Social Housing Grant. The Social Housing Grant is credited to the Statement of Financial Activities when received and then transferred to a restricted reserve. The grant is repayable under certain circumstances, primarily following the sale of the property but will be restricted to net proceeds of sale.
As the cottages are maintained in a state of repair such that their estimated residual value is not less than their improvement cost of carrying amount, the annual charge for depreciation would be nil.
## **Cyclical repairs and maintenance**
The Charity has established a regular programme of cyclical repairs and maintenance. Costs are charged to the Revenue Account in the year in which they are incurred.
## **Extraordinary repairs**
Costs of Extraordinary Repairs, unless representing improvements to the properties, are charged to the Revenue Account in the year in which they are incurred.
## **2. OTHER TRADING ACTIVITIES**
|Maintenance contributions
**INVESTMENT INCOME**
Bank interest|5.4.25
£
30,415
5.4.25
£
364|5.4.24
£
26,394|
|---|---|---|
|||5.4.24
£
590|
## **3. INVESTMENT INCOME**
## **4. TRUSTEES' REMUNERATION AND BENEFITS**
There were no trustees' remuneration or other benefits for the year ended 5 April 2025 nor for the year ended 5 April 2024.
## **Trustees' expenses**
There were no trustees' expenses paid for the year ended 5 April 2025 nor for the year ended 5 April 2024.
continued...
Page 7
Francis Willmer McAulay Memorial Cottages
## Notes to the Financial Statements - continued for the Year Ended 5 April 2025
|**5.**
**COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES**
Unrestricted
Restricted
funds
fund
£
£
**INCOME AND ENDOWMENTS FROM**
Other trading activities
26,394
-
Investment income
590
-
**Total**
26,984
-
**EXPENDITURE ON**
**Charitable activities**
Charitable
51,052
-
Net gains on investments
15,113
-
**NET INCOME/(EXPENDITURE)**
(8,955)
-
**RECONCILIATION OF FUNDS**
Total funds brought forward
257,879
18,894
**TOTAL FUNDS CARRIED FORWARD**
248,924
18,894
**6.**
**TANGIBLE FIXED ASSETS**
Freehold
property
Equipment
£
£
**COST**
At 6 April 2024 and 5 April 2025
60,793
4,744
**DEPRECIATION**
At 6 April 2024 and 5 April 2025
-
4,744
**NET BOOK VALUE**
At 5 April 2025
60,793
-
At 5 April 2024
60,793
-|Total
funds
£
26,394
590
26,984
51,052
15,113
(8,955)
276,773
267,818
Totals
£
65,537
4,744
60,793
60,793|
|---|---|
The trust property is vested with the Official Custodian for Charities and was insured during the year for £2,547,779 (2024: £2,465,434).
continued...
Page 8
Francis Willmer McAulay Memorial Cottages
Notes to the Financial Statements - continued for the Year Ended 5 April 2025
## **7. FIXED ASSET INVESTMENTS**
|**MARKET VALUE**
At 6 April 2024
Additions
Unrealised gain/(loss)
At 5 April 2024
**HISTORICAL COST**
Investments at market value comprise:
Listed investments
All the fixed asset investments are held in the UK.
**8.**
**DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**
Other debtors
**9.**
**CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**
Other creditors
**10.**
**MOVEMENT IN FUNDS**
**Unrestricted funds**
General fund
Cyclical Repairs & Maintenance Reserve
Extraordinary Repairs Reserve
**Restricted funds**
Restricted Funds
**TOTAL FUNDS**|||Listed|
|---|---|---|---|
||||securities|
||||£|
|||||
||||178,159|
||||-|
||||4,130|
|||||
||||182,289|
|||||
|||||
||||109,041|
|||||
|||||
|||5.4.25|5.4.24|
|||£|£|
|||182,289|178,159|
|||||
||At 6.4.24
£
218,811
3,174
26,939
248,924
18,894
267,818|5.4.25
£
3,804
5.4.25
£
1,350
Net
movement
in funds
£
3,690
-
-
3,690
-
3,690|5.4.24
£
719
5.4.24
£
1,350
At
5.4.25
£
222,501
3,174
26,939
252,614
18,894
271,508|
continued...
Page 9
Francis Willmer McAulay Memorial Cottages
## Notes to the Financial Statements - continued for the Year Ended 5 April 2025
## **10. MOVEMENT IN FUNDS - continued**
Net movement in funds, included in the above are as follows:
|Incoming
Resources
resources
expended
£
£
**Unrestricted funds**
General fund
30,779
(31,219)
**TOTAL FUNDS**
30,779
(31,219)
**Comparatives for movement in funds**
At 6.4.23
£
**Unrestricted funds**
General fund
227,766
Cyclical Repairs & Maintenance Reserve
3,174
Extraordinary Repairs Reserve
26,939
257,879
**Restricted funds**
Restricted Funds
18,894
**TOTAL FUNDS**
276,773
Comparative net movement in funds, included in the above are as follows:
Incoming
Resources
resources
expended
£
£
**Unrestricted funds**
General fund
26,984
(51,052)
**TOTAL FUNDS**
26,984
(51,052)|Gains and
Movement
losses
in funds
£
£
4,130
3,690
4,130
3,690
Net
movement
At
in funds
5.4.24
£
£
(8,955)
218,811
-
3,174
-
26,939
(8,955)
248,924
-
18,894
(8,955)
267,818
Gains and
Movement
losses
in funds
£
£
15,113
(8,955)
15,113
(8,955)|
|---|---|
continued...
Page 10
Francis Willmer McAulay Memorial Cottages
## Notes to the Financial Statements - continued for the Year Ended 5 April 2025
## **10. MOVEMENT IN FUNDS - continued**
A current year 12 months and prior year 12 months combined position is as follows:
|**Unrestricted funds**
General fund
Cyclical Repairs & Maintenance Reserve
Extraordinary Repairs Reserve
**Restricted funds**
Restricted Funds
**TOTAL FUNDS**|At 6.4.23
£
227,766
3,174
26,939
257,879
18,894
276,773|Net
movement
in funds
£
(5,265)
-
-
(5,265)
-
(5,265)|At
5.4.25
£
222,501
3,174
26,939|
|---|---|---|---|
||||252,614
18,894|
||||271,508|
A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:
||Incoming|Resources|Gains and|Movement|
|---|---|---|---|---|
||resources|expended|losses|in funds|
||£|£|£|£|
|**Unrestricted funds**|||||
|General fund|57,763|(82,271)|19,243|(5,265)|
|**TOTAL FUNDS**|57,763|(82,271)|19,243|(5,265)|
## **11. RELATED PARTY DISCLOSURES**
There were no related party transactions for the year ended 5 April 2025. There were also no related party transactions for the prior year ended 5 April 2024.
Page 11
Francis Willmer McAulay Memorial Cottages
## Detailed Statement of Financial Activities for the Year Ended 5 April 2025
|Detailed Statement of Financial Activities
for the Year Ended 5 April 2025|||
|---|---|---|
||5.4.25|5.4.24|
||£|£|
|**INCOME AND ENDOWMENTS**|||
|**Other trading activities**|||
|Maintenance contributions|30,415|26,394|
|**Investment income**|||
|Bank interest|364|590|
|**Total incoming resources**|30,779|26,984|
|**EXPENDITURE**|||
|**Charitable activities**|||
|Repairs & Maintenance|10,961|26,659|
|Window Cleaning|852|862|
|Water charges|486|3,504|
|Insurance|1,875|1,780|
|Electricity|572|362|
|Miscellaneous expenses|213|304|
|Almshouse Association Subscriptions|351|233|
|Heating Oil|6,137|8,068|
|Garden Maintenance|1,975|1,355|
|Admin Charge|6,447|6,647|
||29,869|49,774|
|**Support costs**|||
|**Governance costs**|||
|Accountancy and legal fees|1,350|1,278|
|Total resources expended|31,219|51,052|
|**Net expenditure**|(440)|(24,068)|
This page does not form part of the statutory financial statements
Page 12