SEVERN ALMSHOUSES TRusr
(REGIsfERED CHARftY NO: 218540)
FINANCIAL sfATEMEpirs
FOR THE YEAR ENDED
31- DECEMBER 2023

SEVERN ALMSHOUSES TRusr
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST DECEMBER 2023
CONTENTS
Page
Trustees. Report
Statement of Tru5tees' Respong'blltties
Accountants. Report
Balance Sheet
Notes to the Financial Statements
8-11
Income and Expenditure Account
12-13

SEVERN ALMSHOUSES TRUST
TRUSTEES. REPORT
Year Ended 31 Deomber 2023
The Charity is registered wth the Charity Commission (tharity no. 218540) and is a social
landlord reglstered wth the Regulator of Soaal Housing.
The orlginal four properties were L￿11t in 1927, on land formerly owned by the Butterley
Company Limited and purchased by Frankiin Sevem. The Trust Deed provided for the four
properties to be let to.poor people in the Distrltt of Codnorf.
In 1980, four fvrther properties were built at the rear of the orlginal bulldings.
The Charity is administwed by a Board of Trustees, bytho give thelr time voluntarfly. They
norTnally meet three times per year to ensure that the Trust is managed in an effective manner.
The current Trustees are:
Mrs Isobel Hary
Mr thris Emmas-williams
- Co-OPt&J (Codnor Parish Church)
- Councillor (Amber Valley Borough Coundi
and C(*Jnor Parish)
- Codnor Methodist thurch
- Church of England (St James, Crosshill)
- Codnor Parish Coundl
Mrs Jane Bridges
Mrs Jlll Sharp
Mr Mlck Neale
The day to day administration of the Trust Is cathed out by the aerktrreasurer - Mrs Chrls
Slaymaker.
Objectlves and Artivltles
The charfty maintains 8 tKopwtie5 whld) provlde hcxjslng for residents of Codrtor who are aged
60 or over and who are in housing need.
There have been no changes to occupanry during the past year. The residents receive regular
visits from the Trustees indudlng delivering Chnstsnas gifts.
During the Year Ended 31st December 2023, improvements to the properties have included:
New bollers to 3 properties
Damp proof course to one propety, which included all a5￿￿ated remedial work:
replastering, skirting. redecoration and new fi￿ring.
All boilers have been semced (wtth the eX￿pOOn of 3 new t)oilers) and &3fety
Certificates provided.
Smoke alamis have been replaced and carbon rrK)noxide detectors installed.
Additionallyi the FI￿ Se￿1￿ ha5 Visited the properties to provide a Safe and Well checl
providing ad￿￿ to the residents. There are still two properties to be visited as the
residents were unavailable at the time.
The Trust is financially ￿Und and repairs to the properbes are carried out promptly.

SEVERN ALMSHOUSES TRusr
TRUSTEES, REPORT (Continwl)
Year Ended 31 December 2023
The Quinquennial Repor¢ published in 2022, has continued to inform the Tnjstees regarding
ongoing malntenance of the properties.
The aerkftreasurer prepares a ￿nancIal Ststement for eath TrUst￿S, M￿tIng.
Additionally, the Trustees have approved an utsted Criteria for Residency.
Future expenditure
The Trustees have disojssed:
Installatson of Solar panelllng
Replacing the current boiler5 With ground sourtr heat pumps
Resurfaang of the slabbed pathways with a more suitable safety surfa
In5ts111ng security fenang around the &te adj'a￿nt to the cffj)en fields
The purchase of building land In COdr￿r if a site ttcomes available.
A resldent had requested Improvements to the bathr￿m/shoWer area. The Trustees pursued
this and obtalned a quotation, but due to the eXt￿t of the WO￿ required, the ￿sIdent has
requested that this Is not carried out at the moment.
Followlng the out of area relcratlon of the Twsys pre￿ouS Accountsnt, the Trustee5 have
agreed to the appointment of Mabe Alen LLP, Chartered Accountants, of 3 Derby Road, Ripley,
Derbyshire, to prepare the Annual Accounts.
To the best of the Tru5tees' knowledge, all statutory and legal requirements of Severn
Almshouses Trust have been fijlfilled.
Mrs Isobel Hary
Chair of Trustees
1:4d Yy
DATE
)WE IL924

SEVERN ALMSHOUSES TRusr
ATEMENT OF TRusfEES' RESPONSIBILrrIES
Homes England and Chaiity legislation require the Trustees to prepare Finanaal Statements
for each financial year whith give a tnje and fair view of the state of affair5 of the Private
Registered Provider of Social Housing and of the surplus or defictt for that period. In preparing
these financial statements, the TrLIst￿ are required to..
Select suitable accounting polioes and then app￿ them consistendy.
Make judgements and estimates that are reasonable and prudent;
stste whether applicable accounting strdndards have been followed, subject to any
material departu￿ disdosed and explained in the financial statements; and
Prepare the financial statements on the going concem basis unles5 it is inappropriate
to presume that the Private Registered Provider of Social Housing will continue in
bu5irEss.
The Trust￿ are resp(￿S4b1e for keeping proper accounting records which disclose with
reasonable acajrdcy at any time the finanaal rNJsibon of the l¥wate Registered Provider of
Soaal Housing and enable it to ensure that the financial statements comply wth the provisions
within the Housing and Regeneration Att 2008 and the Accounting Direction for Private
Registered Providers of &xial Housing 2019. They have general reswnsibility for taking
reasonable steps to safeguard the assets of the Private Registered Promder of ￿)Cial Housing
and to prevent and detect fraud and other irregularities.

Accountanvs Report to the Trustees on the unaudited ac￿￿nts of
SEVERN ALMSHOUSES TRusr
We report on the accounts for the Year Ended 31* D￿mber 2023 Set out on pages 6 to 12.
Respective responsibilities of the Trustees and reportifVJ acrountant
The Trust￿ of the Private Registered Prowder of knial Housing are responsible for the
preparation of the accounts, and they consider that the Private Registered Provider of S(Kial
Housing is exempt from an audit. It is our responsiknlity to carry out procedures designed to
enable us to ￿pOrt our opinion.
Basis of Opinlon
Our work was condutted in accordance v￿th the Statement of Stsndards for Reporfong
Accountants and so our procedures consisted of comparing the accounts with the accounting
records kept by the Private RegÈstered Prowder of sxial Housing and maktng suth limited
enquiries of the Trustees of the Private Registered Promder of &Kial Housing a5 we considered
ne￿SSary for the purF￿Se of tht5 re￿rL These pr[￿edureS provide the only assuran
expressed in our opinion.
Opinion
In our opinion:
the Income and Expendthre Account and Balan￿ Sheet ft)r Year Ended 31° December
2023 are in accordan￿ the accounts.ng re(Drds kept by the Prwate Registered Provider
of Sooal Housing under section 135{2)(a) of the Housing and Regeneration Att 2008;
On the basis of the information contained in the accounting records:
The Ino)me and Expenditure Account and Balantr Sheet comply wtth the
r￿Uirements of the ￿aritieS Art 2011.
The Private Registered Provider of &)cial Housing has satisfied the conditions
for exemption from an audit ()f the accounts for the Year Ended 31" De￿mber
2022 as Specified in section 136(3) of the HousitvJ and Regeneration Art 2008.

Accountanvs Report to the Trustees on the unaudited accounts of
SEVERN ALMSHOUSES TRusr
Continued...
Opinion (continued)
the accounts comply with the requirements of the Howng and Regenerdtion Att 2008
and the Accounting Direction for Private Registered Providers of knial Housing 2019.
Mabe Allen LLP
Chartered Accountants
3, Derby Road
Ripley
Derbyshire
DE5 3EA

SEVERN ALMSHOUSES TRusr
BALANCE SHEEf AT 31sr DECEMBER 2023
2022
RESTATED
FIXED ASSETS
18,211
Freehold Houslng, Land and Bulldings
FEXED ASSEf INVEsfMENTS
(8)
18,211
303,695
M & G Investments
322,529
321,906
340,740
CURRENT ASSErs
478
Payments in advan
1,383
7,109
Cash at Bank
- HSBC Account
Epwoth Cash Plus Fund
9,655
Ilh79
Creditors: Amounts falling due within one year:
Accruals
(630)
(3,000)
7,379
NET CURRENT ASSErs
8,479
TOTAL ASSEfs LESS aiRRENT UABILrriES
CAprrAL AND RESERVES
284,466
Deslgnated Reserrfes
(9)
303,292
44,819
Income and ExperKliture Account
45,927
34
21

SEVERN ALMSHOUSES TRusr
BALANCE SHEEf AT 31ST DECEMBER 2023
(COWINUED)
The Trustees are satisfied that the tharity was entided to exemption under settion 136(3) of
the Housing and Regeneration Act 2(M)8 and that neither the Trusttts nor the trlomes &
Communltles Agency have required an audit in accordan￿ wth the Art.
The Trustees ackn￿edge their ￿sponSIbl[￿lS for:
ensuring that the tharity keeps accounting record5 in accordance with ￿la1 Houslng
and Charity leglsiatSon; and
preparing accounts which give a true and falr of the State of affalrs of the Prlvate
Registered Provider of Social Housing as at the end of the financial year and of its
surplus or deficit for the finanoal year in accordan￿ with the requlrements of thls Act
relating to accounts, so ftdr as applicable to the Prtvate Registered Provider.
The financlal statements have been p￿Pared in accordano wlth the requlrements of section
135 of the Houslng and Regeneratlon Att 2008 and the Accountlng Direth'on for Private
Reglstered Providers of Social Housing 2019.
These Ilnanclal statements were approved and authorised for Issue by the Trustees
6./4/.io.2.k
On behalf of the Board of Trustees
Mrs 150bel Harry
Chris Emmas-williams

SEVERN ALMSHOUSES TRusr
NOTES TO THE FINANCIAL sfATEMENTS
FOR THE YEAR ENDED 31- DECEMBER 2023
PRINCIPAL ACCOUNTING POUCIES
The Finanaal Statements have been prepared in accordance with applicable Accounting
Standards in the United Kingdom induding the Ststement of Recommended Prattice.
The accounting policies of the charity are set out below".
si
ofAc
ntin
The Financial Ststements are prepared on the historical cost basis of
accounting.
Tumover represents swal housing Income receivable from tenants.
Hou
Pro
All assets a￿ initially recorded at cost.
her
ran
rec
Ived
Grants received relating to revenue expenditure are credited to the Income &
Expenditure Account in the year when such monies are recelved. Grants
received relating to capitsl items are credlted to the Balance Sheet In the year
of receipt against the appllcable asset.
and Mainten
The Charity has estsblished a regular programme of cydlcal repalrs and
maintenan￿. Costs are charged to the Income & Expenditure Account in the
year in which they are incurred.
b)
d)
Costs of Extraordinary Repairs, unless representing improvements to the
properties, are charged to the I￿oMe & Expenditure Account in the year in
which they are incurred.
C 11 al Re
airs and M
int
ce
This reserve represents amounts set aside for cydical malntenance costs In
excess of budgeted expenditure for any year.
or
ai
This Revenue Reserve represents arnounts set asj'de to carry out major repairs
on the charitys social housing properties.
Charitabl
und Pro
Thls represents that pro￿￿On of the cost of properties which was financed by
charitable donations and the a)arity's own resour￿5. The charitable Fund
Property Reserve also indudes depreciation equal to loan repayments provided
in previous years.
V lue Added T
The Charity is not registered for Value Added Tax. In these Financial
Ststements, where applicablei expenditure is shown inclusive of VAT.
Fixed
Investrnents have been valued at market Pr1￿ at 315t December 2023.
Account is taken of unreallsed gains and losses in the Income and Expenditure
Account.
Investment Income:
Invesbnent income is recognised when such income is received.
g)
h)
i)
k)

SEVERN ALMSHOUSES TRusr
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31￿ DECEMBER 2023
2. SOCIAL HOUSING OPERATING COSTS
2022
Notes
2023
Housin
Accommodation
Mana
ement
SeNices
Routine maintenance
8 Untts
4,500
634
3. SERVICES
2022
Notes
2023
2,291
384
Rates & water
Light & heat
(4,897)
4. MANAGEMENT
2022
Notes
2023
TreaSU￿S Honorarium
Insurance
, Accountan
ons & slmilar fees
918
523
542
154
62
73
, Bank CharLes
Bank Interest
5. RoimNE MAIwfENANCE
2022
2023
dlcal re
orre
airs
Garden u
9,143
06

SEVERN ALMSHOUSES TRusr
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST DECEMBER 2023
I￿tEREsT RECEIVED AND SIMIIAR INCOME
2022
REsfATED
Notes
2023
Bank Deposit Account
M & G Accumulation Account
l M & G Income Account
19
11294
19
12,986
18
7. TAXATION
The Sevem Almshouses Trust is a Registered Charity and is therefore exempt
from liabilty to taxation on income and capit35 gains.
8. FREEHOLD SOCIAL HOUSING LAND AND BUILDINGS
At Cost:
8 Houses, Nottingham Road. CcKlnor
£1
9. DESIGNATED RESERVES
Cyclical Repairs
& Maintenan
Major Repairs
Reserve
Balan
l Jan 2023
Prior Year
Adjustmen(
added to
nin
Transfer
(to)/From l & E
l Account
4.501
3,497
1,004
279,965
279,965
Balan
18,826
18,826
Balan
31.12.2023
795
10. ACCOMMODAIION IN MANAGEMENT
The number of units of 50cial housing accommodation managed by the Charity as at
31 December 2023 amounted to eight (2022: eight).
-1¢>

SEVERN ALMSHOUSES TRusr
NOTES TO ThE FINANCIAL sfATEMEKrs
FOR THE YEAR ENDED 31sf DECEMBER 2023
11. MATERIAL INTEREsf OF TRusfEES
There were no contrdtts during, or at the year end, in which a Tnjstee was, or is,
materially interested. (2022: None)
12. PRIOR YEAR ADJusfMEKr
The prior year adjustment as stated within the accounts relates to the M & G investrnents
which has been restated to market value in accordan￿ wÉth the Charities SORP/FRS 102.
The Balance Sheet figure regarding the M & G investment was previously shown at its original
cost. However, this figure did not indude the amount of dimdends received and ￿InveSted
into the investrment over the years.
Calculating the actual cost as at 1st January 2022 was not practicable and would be an onerous
and time consuming task. indeed, it may not even be wssible to calculate in view that the
reinvestsnent of the dividend income is refiected in the Pri￿ per unit rather than the number
of units within the investment. Since there are no tax implications and the current Balance
Sheet at 31" D￿mber 2023 follows the Chartbes SORP, there would be litde benefit to
calculating this going back to l January 2022.
The adjustment made to prior year figu￿ (2022) relating to the two M & G Investsnents were
as follows:
Investment Income (Credtt) in(Teas&l by £12,987.29
Profft on disposal of M & G Units (Debit) re(luced by £9,182.54
Unrealised loss (decrease in market value) (Debtt) increased by £11,374.49
Retsined reserves brought forward (Credit) increased by £288,526.94
sted Investments (Debit) increased by £280,957.20
Furthennore, since one of these investments relates to firture major repairs to the Tru5Vs
proFerty portfolio, the uplift in value of that invthent has been allcKated to the Major Repairs
Reserve (which is a designated reserve).
-li-

SEVERN ALMSHOUSES TRusr
NOTES TO THE FINANCIAL sfATEMENTS
FOR THE YEAR ENDED 31V DECEMBER 2023
Turnover
Operating
Notes
INCOME AND EXPENDrnIRE
FROM LErrINGS
Social housing lettings
(Ib)
22,559
(2) {21,497)
OTHER INCOME AND EXPENDrnIRE
Interest received and similar income
(6)
SURPLUS BEFORE TAXATION
13.394
Taxation
(7)
Unrealised gain on investment
TOTAL SURPLUS AFfER TAXATION
FOR THE PERIOD OF ACCOUNT
MOVEMENT ON RESERVES
Income & Expenditure Account
Balance brought fornard
I" January 2023
44,819
Surplus for the Year
19,934
Transfers (to) / from:
Cydical Repairs and Maintenance ReseNe
Major Repairs Reserve
(18,826)
-12-

Severn Almshouses Trnst
Income and Expenditure A£collut
for the Year Ended 315t December 2023
31.1223
31.12.22
Income
Gross rents rec¢iYed
Inv¢strLteni income
22,559
12J32
22.037
13,009
34,891
35.046
Expenditure
Rates and water
Property insurance
Light and heal
Cyclieal repairs
Major repairs
Garden upkeep
Sundry expenses
Accountsncy
Subscnptio
Bank Charges
Bank inicresl
ProfiUL053 on dtsposal of M & G Uniis
Unrealised Lossl{Pmfitl on
investtnents
14J98)
1.037
676
7,743
9,143
2.291
918
384
5,946
9,320
3,193
2,381
600
524
73
1.154
2970
542
62
(67)
(6,540)
11,374
14,957
36,942
EXCF.SS OF INCOME OVER EXPENDITURE
2022 - F.XPEf¥DITURE OVER P4COME
19.934
(1,896)
Pag¢ 13