| CONTENTS | ||
|---|---|---|
| PAGE | ||
| Trustees’ report | ||
| Auditors’ report | ||
| Statement of financial | activities | |
| Balance sheet | ||
| Notes to the financial | statements | 10-17 |
| Total | Total | ||||||||
|---|---|---|---|---|---|---|---|---|---|
| Unrestricted | Restricted | Designated | Endowment | Funds | Funds | ||||
| Funds | Funds | Funds | Funds | 2025 | 2024 | ||||
| £ | £ | £ | £ | £ | £ | ||||
| Note | |||||||||
| Income and |
endowments | ||||||||
| from: | |||||||||
| Donations and | legacies | 2 | 100 | - | - | - | 100 | 1,000 | |
| Investment income |
3 | 11,021 | - | - | - | 11,021 | 9,044 | ||
| Income from Charitable | |||||||||
| activities | 4 | 409,748 | - | - | 23,778 | 433,526 | 404,757 | ||
| Total income |
and endowments | 420,869 | - | - | 23,778 | 444,647 | 414,801 | ||
| Expenditure | on: | ||||||||
| Charitable activities | 5 | 269,126 | - | 172,353 | 28,509 | 469,988 | 390,536 | ||
| Total expenditure | 269,126 | - | 172,353 | 28,509 | 469,988 | 390,536 | |||
| Net income/(expenditure) | |||||||||
| before gains |
on investments |
151,743 | - | (172,353) | (4,731) | (25,341) | 24,265 | ||
| Netgain/(loss)on investments | - | 3,607 | 130,173 | 7,715 | 141,495 | 43,972 | |||
| Net income/(expenditure) | 151,743 | 3,607 | (42,180) | 2,984 | 116,154 | 68,237 | |||
| Transfers between Funds | (151,452) | - | 151,452 | ||||||
| Net movement | of funds | 291 | 3,607 | 109,272 | 2,984 | 116,154 | 68,237 | ||
| Reconciliation | of funds | ||||||||
| Total funds at | 31 January 2024 | 435,743 | 36,389 | 843,326 | 347,177 | = | 1,662,635 | 1,594,398 | |
| Total funds at | 31 January 2025 | 436,034 | 39,996 | 952,598 | 350,161 | 1,778,789 | 1,662,635 |
| 2025 | 2024 | ||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| £ | £ | £ | £ | ||||||||||
| Note | |||||||||||||
| Fixed assets | |||||||||||||
| Tangible Fixed Assets | 10 | 800,902 | 836,867 | ||||||||||
| Investments at Market Value |
11 | 1,257,471 | 1,115,977 | ||||||||||
| 2,058,373 | 1,952,844 | ||||||||||||
| Current Assets |
|||||||||||||
| Debtors | 12 | 14,374 | 14,579 | ||||||||||
| Cash at bank and in hand | 236,837 | 241,870 | |||||||||||
| 251,211 | 256,449 | ||||||||||||
| Creditors | |||||||||||||
| Amounts falling due within one | year | 13 | (90,096) | (80,815) | |||||||||
| Net Current Assets | 161,115 | 175,634 | |||||||||||
| Total Assets Less Current Liabilities | 2,219,488 | 2,128,478 | |||||||||||
| Creditors | |||||||||||||
| Amounts falling due in more | than one | year 14 | (440,699) | (465,843) | |||||||||
| Net Assets | 1778,789 | 1,662,635 | |||||||||||
| Funds | |||||||||||||
| Unrestricted funds |
|||||||||||||
| General fund | 15 | 436,034 | 435,743 | ||||||||||
| Designatedfunds | 15 | 952,598 | 843,326 | ||||||||||
| Restricted funds | 15 | 39,996 | 36,389 | ||||||||||
| Endowment funds | 15 | 350,161 | 347,177 | ||||||||||
| 1,778,789 | 1,662,635 | ||||||||||||
| Approved by the Board of Trustees | on AS AE Peer), |
AA | ERRE | ans | ada | and signedon their behalf by | |||||||
| SES | ) | TRUSTEES | |||||||||||
| SN | |||||||||||||
| The notes on pages 10 to 17 form | Partof these | accounts. |
| 2025 | 2024 | |||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| £ | £ | |||||||||||||||
| Other | 100 | 1,000 | ||||||||||||||
| 100 | 1,000 | |||||||||||||||
| Income | from | donations | and | legacieswas | £100 | (2024: | £1,000) | of | which | £nil | (2024: | £nil) | was | attributable | to | restricted |
| funds. |
| 2025 | 2024 | ||||
|---|---|---|---|---|---|
| £ | £ | ||||
| Dividends | - equities | 3,670 | 3,059 | ||
| Interest | — | fixed income securities | 7,175 | 5,782 | |
| Interest | — | deposits | 176 | 203 | |
| 11,021 | 9,044 | ||||
| Income | from investments | was £11,021 (2024: £9,044) of which £11,021 (2024: £9,044) was attributable | to unrestricted | ||
| funds. | |||||
| INCOME | FROM CHARITABLE | ACTIVITIES | |||
| 2025 | 2024 | ||||
| £ | £ | ||||
| Contribution from Residents: | |||||
| Maintenance contributions | 317,819 | 300,083 | |||
| Service | charges: | ||||
| - Home |
helpservice | 5,212 | 5,093 | ||
| - Heating |
76,738 | 65,819 | |||
| - Alarm |
9,549 | 9,314 | |||
| Visitors | room | 430 | 670 | ||
| Social Housing Grant released | 23,778 | 23,778 | |||
| 433,526 | 404,757 |
| 2025 | 2024 | |||||||||
|---|---|---|---|---|---|---|---|---|---|---|
| Audit Fee | 7,140 | 6,600 | ||||||||
| Legal and professional fees | ||||||||||
| Executive Officer’s salaries and secretarial | services | 25,017 | 23,573 | |||||||
| Pension contributions | 935 | 744 | ||||||||
| 33,092 | 30,917 | |||||||||
| 8 | COSTS OF ACTIVITIES | UNDERTAKEN | DIRECTLY | |||||||
| 2025 | 2024 | |||||||||
| £ | £ | |||||||||
| Salaries | 48,076 | 45,790 | ||||||||
| Cyclical maintenance | 65,772 | 63,252 | ||||||||
| Extraordinary repairs | 40,257 | 38,682 | ||||||||
| Garden maintenance | 19,458 | 20,752 | ||||||||
| Day to day maintenance | 45,423 | 32,514 | ||||||||
| Heating costs | 76,116 | 59,904 | ||||||||
| Rates | 18,593 | 13,094 | ||||||||
| Residents functions and outings | 4,488 | 3,095 | ||||||||
| Professional fees | 18,741 | 4,724 | ||||||||
| Alarm system maintenance | 6,877 | 7,006 | ||||||||
| 343,801 | 288,813 | |||||||||
| 9 | EMPLOYEES AND TRUSTEES |
|||||||||
| 2025 | 2024 | |||||||||
| Wages and salaries | 72,748 | 66,070 | ||||||||
| Social security costs | ||||||||||
| Pension contribution | 1,280 | 1,036 | ||||||||
| Total emoluments | 74,028 | 67,107 | ||||||||
| No employee received emoluments | of £60,000 or | more. | ||||||||
| The Trustees received no | remuneration | during the year (2024: £nil). | ||||||||
| Expensesamounting to £2,300 was | reimbursed to three | Trustees | for charitable expenses duringthe year (2024: £1,925). | |||||||
| The average number of employees | was | 4 | (2024: | 4). | Calculated | on a full time equivalent basis, analysedby function, | ||||
| was: | ||||||||||
| NUMBER | NUMBER | |||||||||
| Direct Charitable Expenditure | 3 | 3 | ||||||||
| Management and Administration | of | Charity | 1 | 1 | ||||||
| 4 | 4 | |||||||||
| All staff are employed by the Charity | ||||||||||
| -13 - |
| TANGIBLE FIXED ASSETS |
|||
|---|---|---|---|
| Freehold | Fixtures | ||
| Housing | Fittings € | ||
| Properties | Equipment | Total | |
| £ | £ | £ | |
| Cost or valuation |
|||
| At 31 January2024 | 1,776,411 | 169,299 | 1,945,710 |
| Additions | - | - | - |
| Disposals | - | - | - |
| At 31 January2025 | 1,776,411 | 169,299 | 1,945,710 |
| Depreciation | |||
| At 31 January 2024 | 950,692 | 158,151 | 1,108,843 |
| Charge for the year | 28,509 | 7,456 | 35,965 |
| Depreciation on disposal | - | - | - |
| At 31 January 2025 | 979,201 | 165,607 | 1,144,808 |
| Net book value | |||
| At 31 January2025 | 797,210 | 3,692 | 800,902 |
| At 31 January2024 | 825,719 | 11,148 | 836,867 |
| INVESTMENTS | ||
|---|---|---|
| 2025 | 2024 | |
| £ | £ | |
| Market value at 31 January 2024 | 1,115,976 | 1,072,005 |
| Net unrealised investment gain |
141,495 | 43,972 |
| Market value as at 31 January2025 | 1,257,471 | 1,115,977 |
| Historical cost as at 31 January2025 | 168,435 | 168,435 |
| UK listed investments are represented by: | ||
| Investment and unit trusts |
1,257,471 | 1,115,977 |
| ‘11 | INVESTMENTS | (continued) | (continued) | (continued) | |||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Ra | Market | ||||||||||||
| 2025 | 2024 | ||||||||||||
| . | £ | £ | |||||||||||
| The following investment | represents more | than | 5% of | the | Portfolio valuation: | ||||||||
| Charnico Acc Shares | 149,700 | 146,814 | |||||||||||
| Charities official investment | fund | 328,223 | 298,625 | ||||||||||
| Charishare Acc | shares | 317,368 | 279,221 | ||||||||||
| Schroder investment charity | fund | 347,637 | 288,096 | ||||||||||
| Reconciliation | of Movement | in Unrealised | Gains | on | Investment | Assets | |||||||
| £ | |||||||||||||
| Unrealised gainsat 31 January 2024 | 947,541 | ||||||||||||
| Net surplus arising on revaluations for the | period | 141,495 | |||||||||||
| Unrealised gainsat 31 January 2025 | 1,089,036 | ||||||||||||
| 12 | DEBTORS | ||||||||||||
| 2025 | 2024 | ||||||||||||
| £ | £ | ||||||||||||
| Trade debtors | 2,600 | - | |||||||||||
| Other debtors | 2,502 | 4,545 | |||||||||||
| Prepaymentsand accrued | income | 9,272 | 10,034 | ||||||||||
| 14,374 | 14,579 | ||||||||||||
| 13 | CREDITORS: | AMOUNTS | DUE | WITHIN | ONE | YEAR | |||||||
| 2025 | 2024 | ||||||||||||
| £ | £ | ||||||||||||
| Trade creditors | 14,178 | - | |||||||||||
| Pension contributions | 345 | 317 | |||||||||||
| Other creditors | and accruals | 51,795 | |||||||||||
| Deferred grant | income | 23,778 | 23,778 | ||||||||||
| 90,096 | 80,815 | ||||||||||||
| 14 | CREDITORS: | AMOUNTS | DUE | AFTER MORE | THAN | ONE YEAR | |||||||
| 2025 | 2024 | ||||||||||||
| £ | £ | ||||||||||||
| Loan | 155,366 | 156,732 | |||||||||||
| Deferred grant | income | 285,333 | 309,111 | ||||||||||
| 440,699 | 465,843 |
| 15 | ANALYSIS OF |
NET ASSETS BETWEEN | NET ASSETS BETWEEN | NET ASSETS BETWEEN | FUNDS | ||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| General | Restricted | Designated | Endowment | Total | |||||||||
| Fund | Fund | Funds | Fund | Funds | |||||||||
| £ | £ | £ | £ | £ | |||||||||
| Tangible fixed assets | 3,692 | - | - | 797,210 | 800,902 | ||||||||
| Investments | - | 39,996 | 1,142,929 | 74,546 | 1,257,471 | ||||||||
| Current Assets | 493,556 | - | (190,331) | (52,013) | 251,212 | ||||||||
| Current liabilities | (61,214) | - | - | (28,883) | (90,097) | ||||||||
| Long term liabilities | - | - | - | (440,699) | (440,699) | ||||||||
| 436,034 | 39,996 | 952,598 | 350,161 | 1,778,789 | |||||||||
| 16 | FUNDS | ||||||||||||
| At | Revaluation | At | |||||||||||
| 31 January | Incoming | Outgoing | of | 31 | January | ||||||||
| 2024 | Resources | Resources | Transfers investments |
2025 | |||||||||
| £ | £ | £ | £ | £ | £ | ||||||||
| UNRESTRICTED | FUNDS | ||||||||||||
| General fund | 435,743 | 420,869 | (269,126) | (151,452) | - | 436,034 | |||||||
| DESIGNATED | FUNDS | ||||||||||||
| - Extraordinary repairs | reserve | 827,397 | - | (54,846) | (59,743) | 130,173 | 842,981 | ||||||
| - Cyclicalmaintenance | reserve | 17,218 | - | (60,691) | 165,772 | - | 122,299 | ||||||
| - Routine maintenance | reserve | (1,289) | - | (56,816) | 45,423 | - | (12,682) | ||||||
| 843,326 | - | (172,353) | 151,452 | 130,173 | 952,598 | ||||||||
| RESTRICTED FUND |
|||||||||||||
| Sinking fund | 36,389 | - | - | - | 3,607 | 39,996 | |||||||
| ENDOWMENT | FUND | ||||||||||||
| - Expendable | 347,177 | 23,778 | (28,509) | - | 7,715 | 350,161 | |||||||
| TOTAL | 1,662,635 | 444,647 | (469,988) | - | 141,495 | 1,778,789 | |||||||
| Unrestricted funds comprisethose funds |
which the | trustees | are | free to use | in | accordance charitable objects. |