**REGISTERED CHARITY NUMBER: 218634**
**Report of the Trustee and Unaudited Financial Statements for the Year Ended 31 December 2024 for**
**The James Lloyd Almshouses Trust**
**The James Lloyd Almshouses Trust**
## **Contents of the Financial Statements for the Year Ended 31 December 2024**
||**Page**|
|---|---|
|Report of the Trustee|1|
|Independent Examiner's Report|6|
|Statement of Financial Activities 2024|7|
|Statement of Financial Activities 2023 Comparatives|8|
|Balance Sheet|9|
|Notes to the Financial Statements|11|
|Detailed Statements of Financial Activities 2024|17|
|Detailed Statements of Financial Activities 2023|19|
**The James Lloyd Almshouses Trust**
## **Report of the Trustee**
## **for the Year Ended 31st December 2024**
The trustee present its report with the financial statements of the charity for the year ended 31 December 2024. The trustee has adopted the provisions of the Statement of Recommended Practice (SORP (FRS102)) 'Accounting and Reporting by Charities'.
## **REFERENCE AND ADMINISTRATIVE DETAILS Registered Charity number**
218634
## **Principal address**
219 Heath Road Bournville Birmingham West Midlands B30 1RU
## **Trustee**
James Lloyd Almshouses Trustee Ltd The Corporate Trustee
## **Independent examiner**
R B Welch MA P & W Social Accountants Ltd 10 Newent Road Northfield Birmingham B31 2ED
## **Solicitors**
Veale Wasbrough Vizards LLP Second Floor 3 Brindley Place Birmingham B1 2JB
## **Investment Advisers**
Evelyn Partners 103 Colmore Row Birmingham B3 3 AG
## **STRUCTURE, GOVERNANCE AND MANAGEMENT Governing document**
The Trust was founded by a declaration of Trust dated 12 October 1869 and is now governed by a Charity Commission Scheme dated 20 April 2012.
By virtue of that Scheme James Lloyd Almshouses Trustee Limited (comany registration number 08010707) was appointed as Corporate Trustee of the Charity on 20 April 2012 in place of the existing trustees and acts as the sole trustee. James Lloyd Almshouses Trustee Limited has a board of unpaid directors who are nominated to the board based on their relevant expertise.
The Corporate Trustee's directors meets 4 times a year to discuss, monitor and review activities.
Page 1
**The James Lloyd Almshouses Trust**
## **Report of the Trustee**
## **for the Year Ended 31st December 2024**
Within the Corporate Trustee there are 3 Sub Committees being those for Welfare, Property and Finance. These Sub Committees meet as and when required to deal with matters arising. Reports of those Sub Committees are made to the Full Board of Directors of the Corporate Trustee at the next full meeting.
We comply with the Charity Commission and Almshouse Association recommendations. Conflicts of interest are recorded at each meeting. Neither the Trustee nor the Directors of the Trustee Company receive any pay or reimbursement of expenses
## **The Directors of James Lloyd Almshouses Trustee Limited**
H Billyard Appointed 29th October 2024 P Bowden
J Hurst Resigned 16th July 2024
D Leadbeater L Matheson A Shrimpton R Stanton F Wayt
## **Risk management**
The Charity operates a Risk Register, which looks at the risks and threats to which the Charity is exposed. This is reviewed on an annual basis. The Corporate Trustee is satisfied that appropriate controls are in place to provide reasonable assurance against fraud or error.
## **OBJECTIVES AND ACTIVITIES**
## **Objectives and aims**
The prime objective of the trust is to provide sheltered accommodation for elderly women. The trustee aims to
Promote the wellbeing and independence of the residents. Encourage communal activities. Provide a good quality garden. Provide good quality housing. Manage the resources of the trust effectively and efficiently.
## **Public benefit**
The Corporate Trustee has considered the Charity Commissions guidance on public benefit, in particular how future developments will contribute to the objectives and aims it has set.
## **ACHIEVEMENT AND PERFORMANCE**
The Charity continued to invest heavily in repairing and improving the condition of the Almshouses. All the legal and recommended testing was undertaken on time, and in accord with the best possible practice.
Particularly noticeable was that the volume of day-to-day repairs, coupled with a steady increase in both labour and material costs, resulted in a total cost of over £27,000 for the year, this against a budget figure of £20,000. A trend thought likely to continue in 2025 as the buildings continue to age. The budget for the coming year has been increased by 25%.
An important year for improvements, in particular a programme for five replacement kitchens, which had to be increased to six due to a longstanding, but unforeseen water leak. Two of the kitchens included some asbestos material requiring specialist removal, only added to the complexity.
Page 2
**The James Lloyd Almshouses Trust**
## **Report of the Trustee**
## **for the Year Ended 31st December 2024**
We were given substantial financial support from several charities with whom we have mostly worked with for several years, and the Directors wish to list those charities involved. Some grant aid was received in 2023, and the remainder in 2024:-
_The CB & HH Taylor Charitable Trust The LJC Fund The Richard Cadbury Charitable Trust The Lord Austin Charitable Trust The Edward Cadbury Charitable Trust_ The total grants received were £20,000.
In addition, the Baron Davenport Charitable Trust gave £4,000 towards two new electric mobility scooter stores. We now have four such stores that allow reasonable security for the equipment, and safe recharging of the batteries, which cannot be achieved in the residents’ own accommodation.
The Directors strive hard to keep the payment from residents down to the lowest figure possible, following the lead from our Founder in 1869. The Weekly Maintenance Charge, (WMC), is of course set at a level that covers all of the outgoings, providing a small surplus at the end of the year. The small increase in WMC this year was felt prudent by the Directors to cover a general increase in costs, and especially as the fixed price dual-fuel contract we had enjoyed for several years expired in mid- 2024, with, of course, a substantial increase in costs.
The investments are managed on behalf of the organisation by a specialist firm, and it is worth noting that the, just over, £27,000 received from the dividends, was included in the general income. If the residents had to make good that figure, this would add nearly £17 per week for each of the 31 people living with us.
The Directors continue to confirm that investment policy should remain in its present form, being particularly mindful that, despite the substantial sums spent on the existing buildings, there is a need to cover as much as possible of the cost of replacement buildings, which is likely to be required when the current facility is no longer fit for purpose, or economical to repair.
## **FINANCIAL REVIEW**
During the year under review, the Charity recorded an overall surplus and increase of funds of £62,377, (2023: surplus of £24,893). Income from providing accommodation for elderly women has increased from the previous year to £208,125, (2023:£193,783) reflecting full occupancy of the site during the year. During the year there were restricted donations of £10,000 for kitchen replacements and £4,000 towards an additional scooter store. Expenditure has gone down from £227,544 in 2023 to £219,471 which is mainly due to the significant reduction in repairs and maintenance expenditure which was offset partially by an increase in utility costs and professional fees.
The charity achieved a surplus from charitable activities amounting to £29,844 (2023: surplus £1,386) which was due in part to full occupancy, an increase investment income and donation, and a reduction in the overall expenditure. There is an unrealised gain on investments of £4,640, (2022: gain of £365), and there was a realised gain on sales of investments of £27,893 during the year, (2023: £23,143). The Corporate Trustee agreed to transfer £11,500 to the Extraordinary Repair Fund (ERF) (2023: £17,000) plus an additional £27,719, (2023: £27,175) to the Building Fund.
The portfolio is managed on a discretionary basis by a specialist team of investment managers , Evelyn Partners, based in Birmingham who have a detailed knowledge of charity law. The directors of the Corporate Trustee meet the investment managers on an annual basis (March) to receive their report. The Chairman of the Finance sub-committee maintains regular contact with investment managers for periodic updates.
The finance sub- committee of the Corporate Trustee meets twice a year to receive reports from the property subcommittee on capital expenditure and to produce and monitor the budget for the full board to consider and approve.
Page 3
**The James Lloyd Almshouses Trust**
## **Report of the Trustee for the Year Ended 31st December 2024**
## **2024 Reserves**
The charity has throughout the period under review continued to face the pressures of inflation both from a perspective of cost of raw materials and labour. Consequently, this placed pressure on both the Repairs Budget and Major Works as mentioned earlier in the report. However, this did not prevent the planned programme for 2024 being completed and within a revised budget.
The Corporate Trustee is satisfied the original endowment, plus the accumulated capital growth, is sufficient to maintain the buildings in the short to medium term, but longer term, and ultimately when the buildings require demolition and renewal, that the level of reserves meet future capital requirements.
Annual payments into both the ERF and Building Fund were maintained during 2024 as mentioned earlier in the report. The Corporate Trustee is committed to the transfer of monies on an annual basis to both Funds for long term investment.
## **Investments**
Over the 12 months ended 31st December 2024, the overall value of the portfolio in total return terms recorded a gain of 7.6% compared to a gain in the benchmark index (ARC Charity Steady growth) of 8.2%. The portfolio has outperformed the benchmark over 5 years, 26.3% versus 22.3%.
Income generation was supported by new money invested during the period under review. Investment income totalled £27,190 (2023; £25,147). This placed the portfolio on an estimate gross interest yield of 3.16%.
In conjunction with the investment manager the question of asset mix and the risk profile surrounding the investment portfolio is discussed on an annual basis. The investment strategy approved by the Corporate Trustee and which is currently in place is to achieve a balance between income and long-term capital growth. A time horizon of 3 to 5 years forms the basis relative to performance and any substantial change in asset allocation.
The biggest performance driver in 2024 was the technology sector emanating in the United States. Artificial Intelligence became the watchwords for investors and companies at the forefront of new technology achieved phenomenal growth and pushed Wall Street to all time highs. Positive momentum was seen in most western bourses because of this euphoria.
What global equity markets chose to ignore were the risks allied to global geo-political factors which remain far from being resolved. Economic factors have more recently been a drag on market sentiment particularly in the bond markets. Inflation remains stubbornly high and therefore both the Federal Reserve Bank and the Bank of England have to date resisted the temptation to cut interest rates to the levels market analysts were forecasting 6 months ago.
Global equity and bond markets will remain volatile in the current political and economic environment. The US President is another unsettling factor with the introduction of tariffs threatening a global slow down.
The recent annual review from our investment manager was in the main positive for equities but more sanguine towards bonds. The existing balance of the portfolio is well based from a global perspective.
## **RESERVES POLICY**
The charity’s stated reserves policy is to hold at last six months expenditure in reserve, either in cash, or short-term deposit. The charity has current accounts with both Lloyds and Santander banks which totalled more than £144,000 at the end of the 2024. The Corporate Trustee has over the last two financial years reduced monies held on bank deposit for long term investment but retained sufficient to meet at least six months expenditure and any unbudgeted repairs.
Page 4
**The James Lloyd Almshouses Trust**
## **Report of the Trustee for the Year Ended 31st December 2024**
## **FUTURE DEVELOPMENTS**
The Directors have agreed a programme of work for the 2025 improvements.
This work includes re-roofing the five bungalows. The quality and construction of the existing buildings was exposed during the storms in late 2024, so this work has been a priority. The main roofs to the flats are not in the same condition as this is monitored, and whilst they are now coming up to 60 years from construction, it is thought they should last for some years to come.
We plan to increase the insulation levels to external walls and roof spaces to the flats, bringing them up to modern standards. Whilst all the residents are comfortably warm, this can be achieved if less gas is used, whilst also reducing the carbon dioxide emission, which is part of our environmental strategy. This will also enable the Energy Performance rating of five of the properties to be retested, as they are currently EPC Grade D, and to remain lettable, they must be no worse that Grade C by 2030. All the other of our units are Grade C.
The long-term future of the heating systems, currently gas boilers, remains under review, present Government thinking being that such boilers will no longer be available from 2035.
It had been our intention during the year to replace those parts of the paths in the inner courtyard which are still tarmac. However, at the end of 2024, a section of the cast iron pipe network in the courtyard was found to be corroded and leaking. This network is part of the National Grid system, and not under our control. Other sections of the pipework must also have deteriorated over the years, and to replace current paths may well be unwise.
Again, due to age, there are some four properties due for their kitchens to be renewed, one of which is known to have asbestos problems.
Approved by order of the board of the Corporate Trustee on 15th April 2025 and signed on its behalf by:
............................................. A Shrimpton (Director) on behalf of James Lloyd Almshouses Trustee Ltd - Trustee
Page 5
**Independent Examiner's Report to the Trustee of The James Lloyd Almshouses Trust**
I report on the accounts for the year ended 31st December 2024 set out in the following pages.
## **Respective responsibilities of trustee and examiner**
The charity's trustee is responsible for the preparation of the accounts. The charity's trustee considers that an audit is not required for this year (under Section 144(2) of the Charities Act 2011 (the 2011 Act)) and that an independent examination is required.
It is my responsibility to:
examine the accounts under Section 145 of the 2011 Act
to follow the procedures laid down in the General Directions given by the Charity Commission (under Section 145(5)(b) of the 2011 Act); and
to state whether particular matters have come to my attention.
## **Basis of the independent examiner's report**
My examination was carried out in accordance with the General Directions given by the Charity Commission. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from you as the directors of the corporate trustee concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently no opinion is given as to whether the accounts present a 'true and fair view ' and the report is limited to those matters set out in the statements below.
## **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 reasonable cause to believe that in any material respect:
(1) accounting records were not kept in respect of the charity as required by section 130 of the 2011 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.
R B Welch MA P & W Social Accountants Ltd 10 Newent Road Northfield Birmingham
Date: 15th April 2025
Page 6
**The James Lloyd Almshouse Trust**
## **Statement of Financial Activities for the Year Ended 31 December 2024**
|**Unrestricted**
**funds**
**Notes**
**£**
**INCOME AND ENDOWMENTS FROM:**
Donations and legacies
-
Investment income
2.
27,190
**Income from charitable activities**
Providing accommodation for elderly women
208,125
**Total income**
235,315
**EXPENDITURE ON:**
**Charitable activities**
Providing accommodation for elderly women
198,606
**Total expenditure**
198,606
**Net income before gains on investment**
36,709
**Investment gains/(losses)**
Realised gain on sale of investments
27,893
Unrealised gain on investments
4,640
**NET MOVEMENT IN FUNDS**
69,242
**RECONCILIATION OF FUNDS**
-
**Total funds brought forward**
9.
1,585,803
**TOTAL FUNDS CARRIED FORWARD**
9.
1,655,045|**Restricted**
**and**
**Endowment**
**funds**
**£**
14,000
-
-
14,000
20,865
20,865
(6,865)
-
-
(6,865)
-
103,676
96,811|**31.12.24**
**Total funds**
**£**
14,000
27,190
208,125
249,315
219,471
219,471
29,844
27,893
4,640
62,377
-
1,689,479
1,751,856|**31.12.23**
**Total funds**
**£**
10,000
25,147
193,783|
|---|---|---|---|
||||228,930
227,544|
||||227,544|
||||1,386
23,143
365|
||||24,893
-
1,664,586|
||||1,689,479|
The notes form part of these financial statements Page 7
## **The James Lloyd Almshouse Trust**
## **Comparative Statement of Financial Activities for the Year Ended 31 December 2023**
|**Notes**
**INCOME AND ENDOWMENTS FROM:**
Donations and legacies
Investment income
**Income from charitable activities**
Providing accommodation for elderly women
**Total income**
**EXPENDITURE ON:**
**Charitable activities**
Providing accommodation for elderly women
**Total expenditure**
**Net income before (losses) and gains on**
**investment**
**Investment gains/(losses)**
Realised gains on sale of investments
Unrealised gain / (loss) on investments
**NET MOVEMENT IN FUNDS**
**RECONCILIATION OF FUNDS**
**Total funds brought forward**
10.
**TOTAL FUNDS CARRIED FORWARD**
10.|**Unrestricted**
**funds**
**£**
-
25,147
193,783
218,930
220,130
220,130
(1,201)
23,143
365
22,307
1,563,496
1,585,803|**Restricted**
**and**
**Endowment**
**funds**
**£**
10,000
-
-
10,000
7,413
7,413
2,587
-
-
2,587
101,089
103,676|**31.12.23**
**Total funds**
**£**
10,000
25,147
193,783
228,930
227,544
227,544
1,386
23,143
365
24,893
1,664,586
1,689,479|**31.12.22**
**Total funds**
**£**
-
20,155
192,491|
|---|---|---|---|---|
|||||212,646
169,688|
|||||169,688|
|||||42,958
-
(108,005)|
|||||(65,047)
1,729,633|
|||||1,664,586|
The notes form part of these financial statements Page 8
**The James Lloyd Almshouse Trust**
## **Balance Sheet At 31 December 2024**
|**Notes**
**FIXED ASSETS**
Tangible assets
5.
Investments
6.
**CURRENT ASSETS**
Debtors
7.
Cash at bank and in hand
**CREDITORS**
Amounts falling due within one
year
8.
**NET CURRENT ASSETS**
**TOTAL ASSETS LESS**
**CURRENT LIABILITIES**
**NET ASSETS**
**FUNDS**
9.
Unrestricted funds
Restricted funds
Permanent Endowment Fund
**TOTAL FUNDS**|**Unrestricted**
**funds**
**£**
666,032
854,590|**Restricted**
**funds**
**£**
13,431
-
13,431
-
-
-
-
-
13,431
13,431|**Endowment**
**Fund**
83,380
-
83,380
-
-
-
-
-
83,380
83,380|**31.12.24**
**Total funds**
**£**
762,843
854,590
1,617,433
9,569
144,529
154,098
(19,675)
134,423
1,751,856
1,751,856
1,655,045
13,431
83,380
1,751,856|**31.12.23**
**Total funds**
**£**
761,553
770,416|
|---|---|---|---|---|---|
||1,520,622
9,569
144,529||||1,531,969
9,060
163,446|
||154,098
(19,675)||||172,506
(14,995)|
||134,423
1,655,045||||157,510
1,689,479|
||1,655,045||||1,689,479|
||||||1,585,803
20,296
83,380|
||||||1,689,479|
The notes form part of these financial statements Page 9
**The James Lloyd Almshouse Trust**
## **Balance Sheet At 31 December 2024**
The financial statements were approved by the Board of Directors of James Lloyd Almshouses Trustee Ltd, the Corporate Trustee on 15th April 2024 and were signed on its behalf by
.............................................
A Shrimpton (Director) James Lloyd Almshouses Trustee Ltd -Trustee
............................................. F Wayt (Director) James Lloyd Almshouses Trustee Ltd -Trustee
.............................................
P Bowden (Director) James Lloyd Almshouses Trustee Ltd-Trustee
The notes form part of these financial statements Page 10
**The James Lloyd Almshouses Trust**
## **Notes to the Financial Statements for the Year Ended 31 December 2024**
## 1. **ACCOUNTING POLICIES**
## **Accounting convention**
The financial statements have been prepared under the historical cost convention, with the exception of investments which are included at market value, as modified by the revaluation of certain assets and in accordance with the Financial Reporting Standard 102, the Charities Act 2011 and the requirements of the Statement of Recommended Practice, Accounting and Reporting by Charities.
## **Incoming resources**
All incoming resources are included on the Statement of Financial Activities when the charity is legally entitled to the income and the amount can be quantified with reasonable accuracy.
## **Resources expended**
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**
No depreciation is provided for in respect of the freehold properties held. These properties are fully maintained throughout the year. Depreciation is provided at 10% on cost for stairlifts and scooter stores. Fixture and Fittings are depreciated at 10% and 20% to reflect their expected useful life of each purchase. Computer expenditure is depreciated at 25%.
## **Taxation**
The charity is exempt from tax on its charitable activities
## **Fund accounting**
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustee.
Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements
## **Pension costs and other post-retirement benefits**
Contributions payable to the Scheme Manager's private pension scheme are charged to the Statement of Financial Activities in the period to which they relate.
## **Going Concern**
The trustee considers that there are no material uncertainties about the Trusts' ability to continue as a going concern. There are no material uncertainties affecting the current year's accounts.
## **Reporting Currency**
The reporting currency is £ Sterling.
The notes form part of these financial statements Page 11
**The James Lloyd Almshouses Trust**
## **Notes to the Financial Statements for the Year Ended 31 December 2024**
## 2. **INVESTMENT INCOME**
||**31.12.24**|**31.12.23**|
|---|---|---|
||**£**|**£**|
|Income from UK investments|27,190|25,147|
## 3. **TRUSTEES' REMUNERATION, BENEFITS AND DONATIONS**
## **Trustee’s remuneration**
Neither the Trustee nor the Directors of the Corporate Trustee received any remuneration or other benefits for the year ended 31 December 2024 nor for the year ended 31 December 2023.
## **Trustee’s expenses**
There were no expenses paid to the Trustee or the Directors of the Corporate Trustee for the year ended 31 December 2024 nor for the year ended 31 December 2023.
## **Trustee’s donations**
There were no donations from the Trustee or the Directors of the Corporate Trustee for the year ended 31 December 2024 nor for the year ended 31 December 2023.
4. **STAFF COSTS**
|**STAFF COSTS**|||
|---|---|---|
||**31.12.24**|**31.12.23**|
||**£**|**£**|
|Wages and salaries|37,343|35,589|
|Social security costs|-|-|
|Other pension costs|2,171|2,098|
||39,514|37,687|
|The average monthly number of employees during the year was as follows:|||
||**31.12.24**|**31.12.23**|
||2|2|
No employees received emoluments in excess of £60,000.
The notes form part of these financial statements
Page 12
**The James Lloyd Almshouses Trust**
## **Notes to the Financial Statements for the Year Ended 31 December 2024**
## 5. **TANGIBLE FIXED ASSETS**
|At 31 December 2024
**DEPRECIATION**
Charge for year
At 31 December 2024
At 31 December 2024
At 31 December 2023
Disposals
At 31 December 2024
**DEPRECIATION**
Charge for year
Disposals
At 31 December 2024
At 31 December 2024
At 31 December 2023
**COST**
At 1 January 2024
Additions
At 1 January 2024
**NET BOOK VALUE**
At 1 January 2024
Additions
**COST**
At 1 January 2024
**NET BOOK VALUE**|**Freehold**
**property**
**£**
806,826
-
806,826
71,311
-
71,311
735,515
735,515
**Fixtures**
**and fittings**
**£**
55,566
-
-
55,566
48,413
4,357
-
52,770
2,796
7,153|**Property**
**improvements**
**£**
27,355
11,724
39,079
12,990
3,908
16,898
22,181
14,365
**Computer**
**equipment**
**£**
2,307
-
-
2,307
2,068
79
-
2,148
159
238|**Plant and**
**machinery**
**£**
43,647
-|
|---|---|---|---|
||||43,647|
||||39,365
2,090|
||||41,455|
||||2,192|
||||4,283|
||||**Totals**
**£**
935,701
11,724
-|
||||947,425|
||||174,147
10,435
-|
||||184,582|
||||762,843|
||||761,553|
The notes form part of these financial statements
Page 13
**The James Lloyd Almshouses Trust**
## **Notes to the Financial Statements for the Year Ended 31 December 2024**
## 6. **FIXED ASSET INVESTMENTS**
|Share
Securities
£
**MARKET VALUE**
At 1 January 2024
613,575
Additions
174,618
Disposals
(138,513)
Revaluations
6,334
At 31 December 2024
656,014
**NET BOOK VALUE**
At 31 December 2024
656,014
At 31 December 2023
613,575
All investments were held in the UK.|Fixed
Interest
Securities
£
137,267
54,729
-
(1,694)
190,302
190,302
137,267|UK Cash held
as part of
portfolio
£
19,574
54,719
(66,019)
-
8,273
8,273
19,574|Totals
£
770,416
284,066
(204,532)
4,640|
|---|---|---|---|
||||854,590|
||||854,590|
||||770,416|
|||||
## 7. **DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**
|Trade debtors
Other debtors|**31.12.24**
**£**
1,705
7,864
9,569|**31.12.23**
**£**
1,351
7,709|
|---|---|---|
|||9,060|
## 8. **CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**
|Trade creditors
Other creditors|**31.12.24**
**£**
10,568
9,107
19,675|**31.12.23**
**£**
4,260
10,736|
|---|---|---|
|||14,995|
The notes form part of these financial statements Page 14
**The James Lloyd Almshouses Trust**
## **Notes to the Financial Statements for the Year Ended 31 December 2024**
## 9. **MOVEMENT IN FUNDS**
|**At 1.01.24**
**£**
**Unrestricted funds**
General fund
1,310,577
Extraordinary repair fund
198,051
New building fund
77,175
1,585,803
**Permanent Endowment Fund**
83,380
**Restricted funds**
Health and wellbeing
6,643
Stairlift
1,030
Scooter Store
797
Wet room
4,826
Kitchen
7,000
20,296
**TOTAL FUNDS**
1,689,479
**Incoming**
**resources**
**£**
**Unrestricted funds**
General fund
235,315
**Restricted funds**
Health and wellbeing
-
Stairlift
-
Scooter Store
4,000
Wet room
-
Kitchen
10,000
14,000
**TOTAL FUNDS**
249,315
Net movement in funds, included in the above are as|**Net**
**movement**
**in funds**
**£**
69,242
-
-
69,242
-
(949)
(1,030)
2,803
(689)
(7,000)
(6,865)
62,377
**Resources**
**expended**
**£**
(198,606)
(949)
(1,030)
(1,197)
(689)
(17,000)
(20,865)
(219,471)
follows:|**Transfer**
**between funds**
**£**
(39,219)
11,500
27,719
-
-
-
-
-
-
-
-
-
**Gains and**
**losses on**
**investments**
**£**
32,534
-
-
-
-
-
-
32,534|**At 31.12.24**
**£**
1,340,600
209,551
104,894|
|---|---|---|---|
||||1,655,045
83,380
5,694
-
3,600
4,137
-|
||||13,431|
||||1,751,856|
||||**Movement in**
**funds**
**£**
69,242
(949)
(1,030)
2,803
(689)
(7,000)|
||||(6,865)|
||||62,377|
The notes form part of these financial statements Page 15
**The James Lloyd Almshouses Trust**
## **Notes to the Financial Statements for the Year Ended 31 December 2024**
## 10. **2023 COMPARATIVE MOVEMENT IN FUNDS**
|**At 1.01.23**
**£**
**Unrestricted funds**
General fund
1,332,445
Extraordinary repair fund
181,051
New building fund
50,000
1,563,496
**Permanent Endowment Fund**
83,380
**Restricted funds**
Health and wellbeing
7,898
Stair lift
2,701
Scooter Store
1,595
Wet room
5,516
Kitchen
-
17,709
**TOTAL FUNDS**
1,664,586
**Incoming**
**resources**
**£**
**Unrestricted funds**
General fund
218,930
**Restricted funds**
Health and wellbeing
-
Stair lift
-
Scooter Store
-
Wet room
-
Laundry
10,000
Total Restricted funds
10,000
**TOTAL FUNDS**
228,930
Net movement in funds, included in the above are as|**Net**
**movement**
**in funds**
**£**
22,307
-
-
22,307
-
(1,255)
(1,672)
(797)
(690)
7,000
2,587
24,893
**Resources**
**expended**
**£**
(220,130)
(1,255)
(1,672)
(797)
(690)
(3,000)
(7,413)
(227,544)
follows:|**Transfer**
**between funds**
**£**
(44,175)
17,000
27,175
-
-
-
-
-
-
-
-
-
**Gains and**
**losses on**
**investments**
**£**
23,507
-
-
-
-
-
-
23,507|**At 31.12.23**
**£**
1,310,577
198,051
77,175|
|---|---|---|---|
||||1,585,803
83,380
6,643
1,030
797
4,826
7,000|
||||20,296|
||||1,689,479|
||||**Movement in**
**funds**
**£**
22,307
(1,255)
(1,672)
(797)
(690)
7,000|
||||2,587|
||||24,893|
The notes form part of these financial statements Page 16
**The James Lloyd Almshouses Trust**
## **Detailed Statement of Financial Activities for the Year Ended 31 December 2024**
|**INCOME**
**Voluntary income**
Donations
**Investment income**
Income from UK Investments
**Income from charitable activities**
Residents' Maintenance Contribution
**Total incoming resources**
**RESOURCES EXPENDED**
**Charitable activities**
Wages
National Insurance
Pensions
Employee Life Assurance
Rates and water
Insurance
Light and heat
Sundries
Repairs and maintenance
Cleaning
Gardening
TV and music licence
Warden out of hours call service
Staff travel
Supervising cyclical repairs and assessments
Website development, hosting and advertising
Warden activities
Site assistant
Training
Bad debts
Depreciation of property improvements
Depreciation of plant and machinery
Depreciation of fixtures and fittings
Depreciation of computer equipment
Donations|**Unrestricted**
**funds**
**£**
-
-
27,190
208,125
235,315
37,343
-
2,171
334
5,205
6,150
22,325
1,120
72,880
6,431
3,369
413
3,531
12
-
240
3,882
391
-
-
1,072
1,060
4,357
79
-
172,365|**Restricted**
**funds**
**£**
14,000
14,000
-
-
14,000
-
-
-
-
-
-
-
-
17,000
-
-
-
-
-
-
-
-
-
-
-
2,835
1,030
-
-
-
20,865|**31.12.24**
**£**
14,000
14,000
27,190
208,125
249,315
37,343
-
2,171
334
5,205
6,150
22,325
1,120
89,880
6,431
3,369
413
3,531
12
-
240
3,882
391
-
-
3,907
2,090
4,357
79
-
193,230|**31.12.23**
**£**
10,000|
|---|---|---|---|---|
|||||10,000
25,147
193,783|
|||||228,930
35,589
-
2,098
313
4,139
5,784
18,691
807
109,014
6,486
3,770
381
2,785
57
4,392
240
3,208
-
431
85
2,736
3,063
4,663
79
-|
|||||208,809|
The notes form part of these financial statements Page 17
**The James Lloyd Almshouses Trust**
## **Detailed Statement of Financial Activities for the Year Ended 31 December 2024**
|**Support costs**
Telephone
Postage, stationery and computer
Legal and professional fees
Hire of office equipment
Stockbroker fee
Accountancy and bookkeeping
**Total resources expended**
**Net funds before gains and losses on investments**
**Realised gains on investments**
**Unrealised gains on investments**
**Net movement in funds**|**Unrestricted**
**funds**
**£**
1,081
863
8,905
542
4,786
10,064
26,241
198,606
36,709
27,893
4,640
69,242|**Restricted**
**funds**
**£**
-
-
-
-
-
-
-
20,865
(6,865)
-
-
(6,865)|**31.12.24**
**£**
1,081
863
8,905
542
4,786
10,064
26,241
219,471
29,844
27,893
4,640
62,377|**31.12.23**
**£**
924
1,175
2,114
726
4,286
9,509|
|---|---|---|---|---|
|||||18,734
227,544|
|||||1,386
23,143
365|
|||||24,893|
The notes form part of these financial statements Page 18
**The James Lloyd Almshouse Trust**
## **Comparative detailed Statement of Financial Activities for the Year Ended 31 December 2023**
|**INCOME**
**Voluntary income**
Donations
**Investment income**
Income from UK Investments
**Income from charitable activities**
Residents' Maintenance Contribution
**Total incoming resources**
**RESOURCES EXPENDED**
**Charitable activities**
Wages
National Insurance
Pensions
Employee Life Assurance
Rates and water
Insurance
Light and heat
Sundries
Repairs and maintenance
Repairs and maintenance (from the ERF)
Cleaning
Gardening
TV and music licence
Warden out of hours call service
Staff travel
Supervising cyclical repairs and assessments
Website development, hosting and advertising
Warden activities
Summer Event / 150th Anniversary Celebrations
Training
Bad debts
Depreciation of property improvements
Depreciation of plant and machinery
Depreciation of fixtures and fittings
Depreciation of computer equipment
Donations|**Unrestricted**
**funds**
**£**
-
-
25,147
193,783
218,930
35,589
-
2,098
313
4,139
5,784
18,691
807
109,014
-
6,486
3,770
381
2,785
57
1,392
240
3,208
-
431
85
300
1,391
4,357
79
201,396|**Restricted**
**funds**
**£**
10,000
10,000
-
-
10,000
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
3,000
-
-
-
-
-
2,436
1,672
306
-
-
7,413|**31.12.23**
**£**
10,000
10,000
25,147
193,783
228,930
35,589
-
2,098
313
4,139
5,784
18,691
807
109,014
-
6,486
3,770
381
2,785
57
4,392
240
3,208
-
431
85
2,736
3,062
4,663
79
-
208,809|**31.12.22**
**£**
-|
|---|---|---|---|---|
|||||-
20,155
192,491|
|||||212,646
32,801
-
1,936
274
4,280
4,781
19,081
758
57,237
-
5,470
4,136
361
2,640
41
3,940
369
4,100
-
54
-
2,736
4,529
4,663
35
-|
|||||154,222|
The notes form part of these financial statements Page 19
**The James Lloyd Almshouse Trust**
## **Comparative detailed Statement of Financial Activities for the Year Ended 31 December 2023**
|**Support costs**
Telephone
Postage, stationery and computer
Hire of office equipment
Stockbroker fee
Accountancy and bookkeeping
**Total resources expended**
**Net funds before gains and losses on investments**
**Realised gains on investments**
**Unrealised gains/(losses) on investments**
**Net movement in funds**|**Unrestricted**
**funds**
**£**
924
1,175
726
4,286
9,509
18,734
220,130
(1,201)
23,143
365
22,307|**Restricted**
**funds**
**£**
-
-
-
-
-
-
7,413
2,587
-
-
2,587|**31.12.23**
**£**
924
1,175
726
4,286
9,509
18,734
227,544
1,386
23,143
365
24,893|**31.12.22**
**£**
880
1,195
478
4,215
8,699|
|---|---|---|---|---|
|||||15,467
169,689|
|||||42,958
-
(108,005)|
|||||(65,047)|
The notes form part of these financial statements Page 20