NCUILsirr02531655055 The Hartlepools War Memorial Homes and the Crosby Homes Durham Aged Mineworkerfs Homes Association PO Box 31 The Grov8 168 Front Slreet Chester le Street Co Durham DH3 3AZ Robson Laidler Accountsnts Limited Mains House 143 Front Street Chester le Street DH3 3AU Dear Sirs We confinn to the best of our knowledge and belief and having made appropriate enquiries of other directorsltrustees and officials of the charty, the following representations given to you in connection with your independent examination of the charity's financial statements for the year ended 31 March 2025. General We acknowledge as trustees our responsibility under the Charltles Act 2011 and the Housing and Regeneration Act 2008 for the financial statements which give a true and fair view and for making accurate representations to you. All the accounting records have been made available to you for the purpose of your independent examination and all the transactions undertaken by the charity have been properly reflected and recorded in the accounting records. All other records and related information. including minutes of management meelings. have been made available to you. The financial statements are free of material misstatements, including omissions. We believe that the effect of uncorrected misstatements is immaterial both individually and in total. Intemal Control We acknowledge our responsibility for the design and implementatlon of internal control systems to prevent and detect fraud and error. We have disclosed to you the results of our rtsk assessment that Ihe financial statements may be misstated as a result of fraud. There have been no irregularities (or allegations of irregularities) involving management. employees who have a significant role in intemal control or others that could have a material effect on the financial slatements. Assets and Liabilities The charity has satisfactory tille to all assets and there are no liens or 8ncumbranc8S on the charity's assets, ex￿pl for those that are disclosed in the notes to the financial statements. We have recorded or disclosed. as appropriate, all liabilities, both adual and contingent, and have disclosed in the notes to the financial statements all guarantees that we have given lo third parties. We have no plans or intentions that may materially alter the carying value or classification of assets and liabilities reflected in the financial statements. Loans and Arrangements The charity has not granted any adVan￿S or credits to, or made guarantees on behalf of, directors other than those disclosed in the financial statenients. Legal Claims All claims in connection with Ittigation that have been, or are expeded to be, received have been properly accrued for in the financial statements. Law and Regulatlons We are not aware of any irregularities, including fraud, involving management or employees of the charity" nor a￿ we aware of any breaches or possible breaches of statute, regulations, contracts, agreements which might prejudice the charity's going concern slatus or that might result in the Gharity suffering significant penalties or other loss. No allegations of such irregularities, including fraud, or such breaches have come to our notice. Transactlons Wlth Related Parties We are not aware of any transactions with related parties requiring disclosure in the financial statements. Or.. All transactions with related parties have been disclosed in the financial statements. We have made available to you all relevant information conceming such transactions and are not aware of any other matters which require disdosure In order to comply with the requirements of the Charities Act or accounting standards. Post-Balance Sheet Events There have been no events since the b81ance sheet date which necessitate revision of the figures included in the financial ststements or inclusion of a note thereto. Should furlher material events occur, which may necessitate revision of the figures included in the financial statements or inclusion of a note thereto, we will advise you accordingly. Going Concern We believe that the Charity's financial statements should be prepared on a going concern basis on the grounds that current and future sources of funding or support will be more than adequate for the charity's needs. We have considered a period of ￿e1ve months from the date of approval of the financial statements. We believe that no further disclosures relating to the charity's ability to continue as a going concern need to be made in the financial statements. Grants and Donatlons All grants. donations and other income, the r8ceipt of which is subject to specific terms or conditions, have been notified to you. There have been no breache5 of terms or conditions in the applicalion of such income. Yours faithfully Signed on behalf of the board of trustees. The Hartlepools War Memorial Homes and the Crosby Homes ZCSLS Date THE HARTLEPOOLS WAR MEMORIAL HOMES AND THE CROSBY HOMES TRusfEFS' ANNUAL REPORT AND UWAIJDrrED ACCOUNTS For the year •nd•d 31 Mar¢h 202S Rrylster•J tharlty Numb•r 119384 Corporatton Mumber A1055 If Y¥￿ WO￿1￿11(£ Jd￿t￿￿1 InlormatiDTh rogArdlng anyollh• Chjrftys •tt1v5N￿r poIKl&s, r¥lqs. ctympl•fftts pro¢•dum•t4 FI&￿￿ th8hssockth'5 Nomilny Ayl5."" Tht Gro PO BDM 31 160 street Chest¢pk-S 3YH IDA91) 3aszw38 fO•￿h￿ory.yk Emaw.. 7he H•rtlepLd$ War Meniorialhomesttftd the Cmsby Ht7me5 TrU5tce5,￿rM￿l unauoired Kccvnts 31 2025 Contentg Trwees arHI Advl$ors ....-....... . Rlport of the Trustees......,..... .. Inde￿ndent Exurnlnerfs Report....,.. 51tt¢m¢Thi ef CornprÉhÈnslve Income for the y4ar ollded 310 fv14rth 2025................... Slatement of Flnanelal Poswon ￿ at 31x1 Marth 2025 .,.......,.,........-..................... Notes,....... .10 The Hartlepools WarNemoriJl homes and the Cmsby Homes Triistees'aftntsal reportDnLI unaudjted aCCo￿ts 31 Morch 2025 Trustees and Advlsor p wIt5Dn (ChDlrl P Jackson Cllr P 8rown B 8age P Nuttall S Cowie AdyI￿rn M•Traglng Ag•nts Ourharn Aged Mlneworker5' Homes A5so¢ladon POBox3L The Grov• 168 Front street Chester-lo-street Co. Dutham OH3 3AL Ind•pMdont examlll Laldler AC￿U￿tants Llmlted Fernwoorl Hw5e Fernwood JesfftDnd Newca5tk uporn Tyne NE2 ITJ Telep￿)￿¢. Fax,, Ethall.. w¥b￿t•.. f019113681111 10191) 3882838 Infoodornha.oro.¢Jk ww*.¢amha.ory.uk B•nk•rs BBrdBy5 8ank PLC H&rtlepoo1 Drancl Th• T￿$ Grovp (Northl PO8oxN•.7 5t0tkton-o￿-Te￿s TSI6 IAH Sglldtorn O*eNI L•w Flrm Spaceworks Benton Pèrk flty3d Newca5tk Tyne IIE7 7LX The Nortlepools Var 14emuri8lhomes and t*e cr￿D￿ Homes TRtsStees'anm￿j rtport anL4 uAJudltÉd accounts 31 Mard) 2025 Report af the Tru5tse$ Thss report has been prep•rtd In aCCOfdance wlth relevant le4tslation InclLullng the SEatÉmeTrt of RecofftrneTrded ￿actICe.A￿xjuTrtfn9 by Charftles, Issued by the Ctwlty Commlsslon and'tnternal Flnènclal Canlrol & Flnanclèl Re￿rth￿. Issueé bv the former S￿￿te$ Authwlty. The Tru¥tees present thelr report t*)gether pudlted nnanclèl Statemnts for the per104 éndekl 319r Mbrch 2D2S The H&rtlepool War Memorlal &The Crosby Trl(¥nes was found¢d In 1923 4nd Is ar) ufjkncorporat2d ¢harity dmlnlsrered by è ￿atrIty Commlsslon Schem2 Sealed on the 21￿ January 2Q04. It 15 AlmihLJuse Charlty (No, 2I938416nd E Re91Stgrqd HDU51ng thodatlon (No, A1055), The penon$ who aro members or the Tn15tees srt out on page 2. The pollcy when re¢iultln9 n¢w Trurtqes 15 tc wolnl tb03e wllh re￿¥ant sklll¥ to carry out the ￿sInesS of the tharlty. ObJ*tts pfrivldè he￿sIng acrDmrnodBtiDn fvr persons 4Yho at ony time prfw to thelr sdertlan shall ha¥e been rE$ldwt In the are? of benefit ror at kast ten yaar5 of the adult pwloLI of thelr IlvEs ono who are elther aged. Inllrm or Inrapadtsted by ￿?$0￿ of war or actldent.- Prnperty Lwd and t￿11&+n98 kntswn as 1-31 ant* 2.16 Ryehlll Garden5, Hwrlepool, ClevelaTrd TS26 QJJ. M•n&#¢mÈfflt Durh•m Aoed Mlneworkets, Hom&s A5s0datl¢fi aLt ￿ rnanaulng agents. Revlew of Actlvlty The 24 Iwo bedrugTh Single stotey homts, vJ¢re fully txcupl¢a through the year except lor 4 hlch were ¥oJrf l¢*r J totsl ef 34 wéeks at an avero9e wlekly malnt4nonEe rwtrlbvtlon ol E72.32. ThÈ home5 all Th*et the Govemmenl"DEGEnt Standard", an •¥s¢i m•nwemeDt strafegy Is In place to maintsln the hom•s tts the Nghest st8n¢8rd& A waltln9 115t Is matntaSnett ond 40 appllcarti are on ttie115t. The Hartlepoofs War M*morl•l htsmes ènd the Cm5by Ilornes Twstws, &nnuolrepprt Bnd ungudll¢d acroiints 31 Marclj 2025 V4lu¢ hr 11on•y St4tom•Dt RegisterEd cha￿lY Is cèrnrniued to belng èn effertlve and effldemt soci)I busin¢ss KhievlN Value for Money tw") ITh •ll Df it5 &tiiviti65. As the thartty only h¢$ 24 unt¢5 to athlcve VTH ￿ benehts Irom th& pol￿2$ and pmiè¢urÉs of DAMHA {the tnaTbBglsvJ aqqntl. éxample$ of this a￿ wheré a new rAILral heatlno boller Is repLFlred ihe ¢¢sts a those ne9Oiloted by DAMHA vrfhu h•ve in cxre55 of 1700 uni15, Thls prlnclple •150 •ppIip5 for rvp14cerneTht kItChe￿ and hèthrooms as requlred. Qtsinouenntai inSPetti0r￿ aré carrted o￿t to 5thetlule planned mtintenDnce. that SBid mony of the Imwovernents are carr5ed out duriny pErlods duo to the ￿ ènd vulnerabllity pr thE Throu9h the man0￿MeTrt agreement The Hwtkpool's W?r Memorfal Htsrnes and rhe Crosby Ho41 have a cost-elfectfvÈ prows of ma))slnp ￿•V to rJ¥y rnpalts ènd th* coll*rtlon of the weeklv malnténaDo charge. Residents c4D èlso contatt hO￿Ing offi¢ws Dn o frEe phvn8 number. VIM Is Khleved by u*ng whero approprlJte local contrart¥Jrs. •.9. land￿ape malntenanc•. Key ams Df P•rFomi8nc¢ lor the thw4ty over tlme In to VIN are * follow5." 2025 2024 2023 2022 ZQ21 Operabw c0619 pvcer*lago ol iLThover 1EXdudi￿ Amrtisatlon And 411.1W• D•w•d•liMI maln1￿£nce per 6JAI% 6Q91% 33.00% 6434% t3245 t1.402 £1.461 1,186 £1142 No of Voklj 5R y￿r Roui*b reylra ctffip*l•rt on kn• 98.58% 95.97% 89fy8% Mo (lan9es Ih pojlcy have occurred slno the last Innual Tepurt and AO chhrh9e5 are Currontty under ￿VIeW. The IlwllwL¥15 War Memon•l hoffle$ 4rtL¥ thè Croaty Homes Tn￿teeS.èft￿ttaI wort Jnd uyJaudilety truzl deèd, Mblert to èny mètorfai depsrtvrcg dlsclosed explalhÉd In the flnjndal Gtatements: ènd prepare the flnandal 5tst8monts the gdThJ concern bJ5Ls Urb1￿ It Is lTroppruprlbts to prosume that the a55011atthi wlll cortlnve In bu$lness. Twstges aR respDnÈlbJe fDr k*¢pIr￿ proper ateounttng rertsid5, sufficiènt to dlsclose at any tlme, with reasonable a¢curacyJ the finwiclal posJth7n of the Char￿ at Ihat Ilme and enab￿ the TrustPe5 ¢0 Énsure Ihat its nnttnilal statements ¢amply with rhe ljarltles Att 2011, the HoJsln9 •n(J Regeneratson Art 2008 and the Accounts"ng DireGth>n for Prfv*e Regtstered Pmvlders of Sodal Housing In Ern¢F4nd 2019. The Trustees have oenernl re•PonsI￿.￿ty for tsking suth steps gs ère r•èsonatyy oponto thorn losaftyuard the asSEts of the A550C3ation and to pr*vent ind detert Itaud and oth8r I￿10U1?r$￿È$. The Yrustees are rtsponslb¢e for the mèlntsrhantt Integ￿ty of the wrporate ar￿ fln&ncial Infiymation Induéed on the Assodatton's web5itE. Le9I51?tton In the UK goverrfng Preparation and d155ernknJllo ol firFancibl stètements may dlffer frm legIsla￿On In other JUrisd￿on¥, Sl9ned un behalf ol thu TN5teEts Chèlr 1% 5￿ternber 2025 rhe Hartrepools Warmemonal homes the Crosby Twstees'annual report and wtaudltedaccoLmrs 31 fvfarch 2025 Independent Ex•mlnarf$ Report J reth to the Trustee5 on rny exarnknawon of tho Nnan¢l81 ststemenrs of H2rUepool Wir Memorfj IltsrAes The Crosby HgmE5 for y¢Hr 31 Marrh 2025. R**pon$ibllkk6 ba•1• of Mpklrt s the truskees of the charSty yoti ère resp¢n$lble lor the pre￿¢￿110￿ ol the flDafi¢lal stotemonts In •cGDrdatK¢ wlth the requlrerr¥ofits of the ènd Reger4eraUDn Act 20￿B and Charftie5 Act 2011. I report In re¥Ject of my exarnlnatton of the Charlty's Iln£nclal statements Caryled S￿tion 145 ol the thBrities Act 2011. In carylng out My examlnatlen I havt followed the drertlons glven by the Charlcy CornmLsslon under5octi¢n 14515)(bl of the Cha Yifies Act 2011. llAd•p*nd•nt •x•MIn•￿￿ •tat•m•nt I have tompleied my evo¥nauon. I imt nts h)atte￿ hav¢ torntr to my attofttion kn conhethon wlth lh• examlnatlon givlno rne ¢avse to bell1￿ thai M Ihy nmierial rwert, ac¢ovTh¢kng *etords We￿ not kept In resp¢rt of the Charfty 65 reouwed by 5ErtIDll 130 tsr th* Charl¢k5 Art 2011. The fifbandal statetnent5 Jo not èccord with thD5e rè¢Drds,' tsr The 5tstement5 th not compl¥ the 4pplcJblE r¢q¥lrernents concernlng the forni contenl of the flnanclal ststernents Set out In the Charltks (ACCO￿￿$ and Reports) Regulatlons 2008 other thon any requlremert that the fmardal staternents give è tnkènd fair view, whlth 1$ r￿t a mètterton$idtrèd as pari rf ah kndopèndent e¥arnlThatlon. I have rn conums and have corne across no ¢ther m4ittts In connacthiTr wlth the eymhiath)n to whfth attentlon should be drawn In thls report In order tv enable a proper understandin9 ¢1 the finandal tatEments to be reached. Nl¢Mlas Cunnlngh3m IFCCA) Robwn Laidl¢r Accounlonts Llrrblted Fernwood Kou5e Fofnwooo Roa )e5mand Newcastle upon Tyne NE7 7LX Daied U-q- 2Q25 Tré Martrepools WJrMemohal hom¢5 an&1 the Cmstsy Ilomès Trustees'annv•i report Jnd unèudlr¢d Jccounts 31 Il•rth 3(J35 Sl*tem¢nt ol CompY¢h•Trslve Incom¢ for the year end•d 3111 March 2025 2L725 3024 Tumov•r IOS,380 l¢y,771 (63,654) 111,5771 Operwng Co5 {113.3751 {15,1231 Deprecktlon Opet•tlny (D*ff¢lt]lSypplw¥ L￿S on dlsposal ol Mxed Assets Interest re￿1¥able 123, 118) (58D) 2g,34D 1.160 1,137 rotal CgmprRIMn*lv• IrKorn• forth• y••r Tra￿ter Ifom Deslgnbted Reserves Income and Expenthwre Reserve ai i hprtl 24 (22,538) 30.477 449,815 419,338 Intomq #Thd 1X￿d￿￿re R•*•r¥• at $1 25 427,277 449,Bl5 All IrKDme and expenthturE shuwn abjve r•lètes to CDntlwlng aLtlvlUe5. The Ilwtl¢poo15 WarNefflofjal lJvme5 tlje Crosby 14 TnJstee$'annu*l reKort artd u+knu&rted attOUJFts 3J March 2035 St•t•mtnt of Ch•ng•i In K•s¢No• Vor yur •Th*•d JI M•r£h 2025 250,54$ 4rt9￿]s I￿jLI 91 9>,t02 92•,094 la Aprll 242 Tota comprnhlln£lv• r4TrMÈIIDefi¢ltl fr( the Year {22,538) ev*lL4WOts LvdwpIu5 art￿ng durlfio the y•or 16,7951 3,749 427,277 12DJII 9JA 99,102 91.J57 YI fr14r(h 2025 The Mariiepools Mernorlal hDnie5and th¢ Crosty rfust*•5'anftiial reportènd un8vdtted accounts 31 fvtsrch 2Q25 stalemont of Flnand•l PoBltton as at 3111 M*rch 2025 202S 2025 2024 20Z4 flx•d AsF•ts rongible A55ets In¥e5tments 597,832 28¢,060 877.892 468,703 Z86,859 755.562 Currqnl Drbtsrs Cash It bartk and Ipl han 3,500 283.887 287,387 3,498 2Y,286 432,784 cra￿+t￿r￿. Amounis falllng due wlthln one yeor 120,691) IIL,0461 N•t Cvrr•nt 266,693 421.738 Trtsl A••eto 1,144,505 I,I77,3DO CMdit4)rt', AmouTrt5 falling ue after morc than ypar 1253,228) 1256,6D61 Totsl Ass•ts 891.357 920,694 Investfflent Rqyaluotlon ResENe Income & Eipet)dOture Ac(¢unl Jynated Reserv other ReseNes Charftable Fund PFupeFty ReS￿e 243.749 427.277 120,311 918 99,102 2SO.548 449.815 120.311 918 99.102 891,357 920,694 The fin￿riAl #oteThents Shown Dn pa9e$ 7 w 16 were approvtd by tn¢ 7rustee5 on il September 2025 and WEQ $19fbed on Its behalf by.. Tr. Chalr Truste The 4Yor M¥mort?I hgm*$ 4ndvJe Crostry lome rrustees'anrpuelréportand UnaUdrt￿ a¢counts 31 ma￿ 2D25 Not•# A(Gvurtlng Polld Isls •f•e¢tsuntlnp The finandal statements of the knsoclotion Jre prep#ry¢ under the hist•ri¢¥l ￿$¢ cony¢￿tI0Th, except for Mve5tments whkh are held * markÈt valuÈ. Th15 Is In accordance V4ith èppllrable a￿￿ntInU standards, namelyt UK Generally Accepted Accountlng PractlcE {iJK GWI Including Rwnclal Reportiry Stèndard 102 {FRS 1021 •nd the Housing SORP 2014: St4tvmwt of Recommended Piètt5te for Regi$ter¢d SoJal Htsuslng Prtsvldws •)d ¢omply wlth the kcountin DlreEtloTh for Prlvate Keg15tered Provllers of sottal Houslr#J 2019. Whlle the Assoclatlon ￿ èn idr4rthworat¢d Charlty ¥nd o member tyf the N•t10￿1 or Almshouse5, the Assodatlon 15 a150 J Reslsrerad Social Mou51n9 Pravlder. Thereftyo. thé nnaKlal 3ta¢ements hèvE beerb preparrd In compllince wlth the èl#uslng SORP 20L4 to enable wrL51stanCyi ¢￿e arnd transparnn¢y In 04tr reportlno to th* htyJsrng F•gulator, c•sh Flaws A> è sm•ll Registe￿ Socfal Hou5Ing Provldtr. Tre H#rtl¢pool'¥ MemDrfal home¥ and the Crosby trlome5 h&ve elected to use trelr ¢xrbwrion to prepare a stotement ot cash IIDWS. FIxedA￿e*l￿V¥$t￿￿￿f$ Jnve$tments classified UFJder fix¢d assets ￿ 5tBted ot market valLJE at the balJDce shet date, where th15 15 readly identiflable. othsr ifivestments are ktaled at cost. Ihe Ass￿￿at10n'5 foreta5ts aTrd proJethon5 show that thÈ As*acl8tlon should be able to contlnue operate wlthin the Iqvel vr ts cutreftt facllitles and no m6ttWs have been ¢rawn to Its altertiun to 5ugge* thèl ￿￿￿re lunL11kng may not be forthcomlng on acceptable te￿$. fter moklng enquliles, the Tru5tee5 ha¥e a reasonable expecrarlon rhat the A55011•tlDV has aOequ*e resources to eODlknue In opwJtlonol exlstents lor the ltye5Ee4bl¢ ￿ur¢. According￿, th?y ¢(ffitlnue to adopl the golng concein bBsls In preparlr¥J th¢4e nnbntlal strtements. Ilousln9 P¥opertl• lousing properties are stated at cort, less a(oJrnul&ed depreJ3ty"on. MBJor cornpanonts of hDuslrTry prDpertles. Such as wlndty*s and heatlng components. h)vÈ been a£rDunted fof depretlated separately from the maln fabrk. ovcr their expeded econofftlE IIve5. Depreckntlon Is charged at the rates èp*led belg¥Y to writt the cost of thE 45set D¥er thelr expecied u58ful econoWc Ilv Lané Miln Fabrfc Roof Elertrica15 Wihduws External DoDrs - Xot Deprecloted 11)0 years strntght fine - 40 yews stralght Ilne 30 years Jtraight IiAt 25 years stralght Ilfj 25 years #raigttt Ilne 20 years strnlght Ilne 15 yoar5 Stral9ht line 15 yèars srralutrc Ilne 30 years straight1Sne Kltche oller5 Heatiftg Installètlons io rne HJrtleptttsFs Ivar Memorial 1￿m¢S afttl the Cmsby Hoffles rtusrees'arpnr￿I report and vn•udlted aceounts 3114arth 2025 Ihe Scmwr for Impalrment 15 undertaken cornpar¢n9 sthemt s c)rylng 4mwnt to its reo)verèbl¢ ?motsnL whe￿ the carrylng amount of ) sthemo Is deeffiÉJ t¢ ÈxceoÉ its recoverable arnpunt, the scheme is wdttery Oown to Its reewerabk alllOLYIt. The resultlng impairment105515 rec*gnlsed a$ ¢)Der4lti ewd*urÉ. Where B s¢h&me Is currerrtly not to be prov1￿￿9 s•Nl¢e potantlal to the A5so£ia*on. ts rettsvèrabie amount Is falr v•lu• kss rry5ts tD sell. trbto Debtors ore M￿Sure￿ at Iran50cIiDn price, less any imp￿rment. rndltrovs Cr8dltor5 are measured at ¢ransètttoTh pdce. De619n•1￿ Rvpprve A de51gnated reserve ho5 been creatsd in order to meet f￿lure expenditure up¢rt plartn•d mBintenafKe and rnlnor Imwovemenrs. A stock condltivn Survey In respeLt of )11 the prop2rtles (Brrted Dut In 2001 hès been usedto oraw up a forrnal plan￿e￿ M&￿tenanCe & Mlnorlrnprovcmonts Ogramm￿. The re5ENe hy¥ been crerted frgtn th¢ Trusts P￿vIOUS cydcal Mal￿nance and Tha Ilartlepo91s W4r Memorrfal horn¢5 and th¢ Cr05by tlorntt& Trts5tee5'•nnval report and Una￿lted a¢¢ounts 31 march 2025 extraordlnary re￿IrS desi9nateé reserve$ and estsbllsw to the extent that it 1$ ¢onsidqréd thDt thls e*w.n¢Jiture can b# m•t frtsm the charity 3 ¢wri res*vés. Ch•rJiabltr PropertyX•s•rY• Thls roservt represents that propgrtion Dr the o)5¢ of the pfDPtrtles. whlch was flnarKed thanlbble doDaiiort$ as well as the tha¥Kl¢s own rtstsur￿, Admlnlstr3tlon The management of the Asso¢kfiDn conunues to be deèlt wlth by Durham Ageol Mlneworkw Hornes Assoclatlon {DAMHAI o seporately re91StW￿ hou$in9 aS5Qlibti(>n 151251. Rental Income Ènd adrnini51rative ￿sts are receivod and pald by the a5500ation who make ¥ maThagwn¢nt thèto¢ for Irtbng is #gent. The Hortle&wls W4V &Vemortal home5 ènd the Cm5ty Homes Twstées, annval mportanLI vnavdltedHccDunts 31 Marr* 2Q25 Tufno¥ar and Oporatl#B siivplus fr*rth• Y￿r by cl￿ OT Ouslnes• 1025 1024 T￿MOver Irgm irfilngs Rfjnts ané service chaffJe5 receivable ArnortlsEd yovEmrnent grnnts 102,004 3.376 105,380 101.395 3,376 104,771 Operltlhi Exyendlturè debts wrthn off Managernsrt Dèy to ¢tay rep*rs & malrntenance s￿viCeS lincludiny Wator R•tesl Depr¢dat5tsn Toial Expgndltur• on Sod•l Hou&lni Lettlng0 21,424 77,6B5 14,066 15,123 126.498 J7.955 3J.200 12.699 11,577 75,431 Vold L055e5 12,394) (491) S•n5or Ex•cull¥¢* The 5onk*r EX*￿1ve5 are denrted as the Truslogs, who rccelved no emDluments durlnp the year {2U24: Enlll Int•r#•t r¢¢¢l¥•tslE ¥nd •lmllv IrKome 2025 2014 Investment Income 1,160 1,137 Surp1￿ Ordln•ry Artlv5tt4$ 2025 2024 Thp SurpJLts on orthnary actl￿tIeS Is st•ted after chirong.. AbdStorfs remuneratlon Ind8pendenE e%amlthers foe 1.083 1,148 rh* H**(22,538)**| |---|---| ||| |Surplus/(Deficit) per draft accounts|**(22,538)**| ## Discussion points **1. Income** : income has remained consistent to prior years as expected. **2. Expenditure:** expenditure has risen by 70% to £128k in the year. This has been largely due to the planned expenditure in relation to improvements to smoke alarms and upgrades to loft insulation carried out in the year. **3. Accountancy accrual** we noted that accountancy fees had been accrued based on an estimate of prior year fees. We will be able to provide a quote prior to YE 31.03.26 so that this can be accurately reflected in future years. **4. Balance Sheet :** the balance sheet has remained stable during the year. There has been an increase in fixed assets which has also has resulted in the decrease in cash following the works carried out on the boiler and heating systems within the properties during the year. Overall reserves have decreased by £29K due to the deficit in the year due to the increased expenditure mentioned above. **5. Investment valuations** : the value of the 3 ½% warstock included within investments has remained uncharged in the year at £1,829.We understand that efforts are being made to obtain the relevant paperwork in relation to this investment in order for the correct valuation to be included within the accounts accurately in future years, however given the current value of the investment any change to the current year would not be considered material. **6. Rental debtors/prepaid rents** : we identified that there were several balances that look to be outstanding from prior years. We recommend a review of older balances is carried out in the current year and any bad debt provision provided. **7. Trustees report** : as a charity a reserves policy should be included within the trustees report. The reserves policy should explain what the current level of reserves is and what level of reserves is targeted to be held and why. We would recommend that this is considered and included in future years. **8. Charity Commission:** We would recommend that information such as changes to trustees are updated with the Charity Commission on a timely basis. We also noted in prior years the letter of representation, along with the audit findings report were filed at Charity Commission. Please note neither of these documents should be filed with Charity Commission in future. Only the accounts (including the trustees report) should be filed. 3 ## Other areas for consideration ## Operating leases Changes to accounting standards will require that long term operating leases be recognised as an asset on the balance sheet for accounting periods starting on or after 1 January 2026. This is noted for information purposes only and will not impact on the current financial statements. ## Your accounting policies As part of our audit procedures, we consider whether your accounting policies are appropriate to the charity’s circumstance and consistently applied. If there are alternative accounting policies that could be applied in your circumstances, we point these out to you to consider. We believe that all your accounting policies are appropriate to the company and correctly applied. ## Proposed opinion Subject to any material points noted above being addressed then it is our intention to issue an unqualified or clean Independent examiners report. 4