REGISTERED CHARITY NUMBER: 219790 Re ort of the Trustees and Unaudited Financial Statements for the Year Ended 31 March 2025 for Ellen Gl nne Homes
Ellen Gl nne Homes Contents of the Financial Statements for the Year Ended 31 March 2025 Page Report of the Trustees Independent Examinerfs Report Statement of Flnanclal Actlvltles Balance Sheet Notes to the Flnancial Statements 10 to 16 Detailed Ststement of Financial Activitles 17 to 18
Ellen Gl nne Homes Re ort of the Trustees for the Year Ended 31 March 2025 The trustees present their report with the financial statements of the charity for the year ended 31 March 2025. The truslees have adopled the provisions of Accounting and Reporting by Charities: Statement of R8commended 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). OBJECTIVES AND ACTIVITIES ObJectives and aims The Charitable objects of the Charity are noted below and are considered a benefit to the public. i.e. to provide housing. aGGommodation and assistance to help house people who are elderly or disabled, and associated facilities and amenities for such people or for the relief of the aged. disabled" and to rther such general charitable objects as the Trustee may detemiine. FINANCIAL REVIEW Flnancial position The total incoming resources was £58.836 for the year ending 31 March 2025 (2024: £53.830}. The net deficit for the year was £18,082 (2024: Deficit of £11,726). Included within the 2024 expenditure was an amount of £28,286 for propety maintenance and repair. and this included the work undertaken to install new bathrooms and kitchens. In 2025, property maintenance and repair Includes the sum of £7.092. for costs relating to the re-surfacing of the main entrance way. Prlncipal funding sources The principal funding SOue$ arise from the provision of housing accommodation. Expenditure is all related to the upkeep and management of this accommodation. Investment policy and obJe¢tlves The Trustee has th@ power to make any investments which the Trustee sees fit. The Trustee is responsible for the regular review of investments. Page 1
Ellen Gl nne Homes ort of the Trustees for the Year Ended 31 March 2025 FINANCIAL REVIEW Reserves poliey The Trustee has considered the need for an appropriate level of reseNes in conjunction viith the guidan issued by The Charities Commission. In determining a reserves policy, th8 Trust88 has identified core obj8Ctives to be met. These being: The establishment of adequate free reserves, being the unrestricted fund. excluding any endowments etc, less the value of fixed assets. this being so as to ensure that the Charity has adequate liquidity to meet any short-term fluctuations in occupancy levels or exceptional costs outsid8 the scope of the budget" and The development of a strong Balance Sheet and positive cash flow to support the funding and improvement of the existing property. The level of reserves required is determined using comprehensive bud9ets and cash flow forecasts. Regular updates and monitoring of these documents is carried out to ensure that cash flow is adequate for the needs of the Charity. Levels of property investment are budgeted according to resources available and on-going reserve requirements reviewed. Currently tho charity does not have a free reserve 12024: Nil), and there is a reported deficit on the income statement in both years to the 31 March 2025. Free reserves being the tolal of the unrestricted funds, tess the 'endowment' and the net book value of the unrestricted fixed assets. Golng concern Despite there being a deficit in the year. the trustees do not consider there to be any material uncertainties about the charivs abilty to continue as a going concern. FUTURE PLANS The trustees will endeavour to ensure that a surplus is generated, but where losses arise, they will occur due to investing in the propety of the charity. Going fonNard. the aim is to continue with the routine maintenance and repair programme. but where funds allow, further improvement and modemisation work will also be undertaken. STRUCTURE. GOVERNANCE AND MANAGEMENT Governing document The Trustee is Gw Cynefi'n, a Registered Social Landlord, No. L029. The charity is controlled by its goveming document. a deed of trust and constitutes an unincorporated charity. Page 2
Ellen Gl nne Homes Ra ort of the Trustees for the Yaar Ended 31 March 2025 STRUCTURE, GOVERNANCE AND MANAGEMENT Risk management The trustees have a duty to identify and review the risks to which the charity is exposed and to ensure appropriate controls are in place to provide reasonable assurancE against fraud and error. The trustees identify the risks to Grwp Cynefin which includes the risks to which the charity is exposed where applicable, and for each of these an assessment has been made as to their impact. severity and probability. Intemal and external controls have been reviewed for effectiveness in mitigating these risks. Systems established to manage the level of risk include the following-" The review of major risk related incidents (and steps tsken to address these) in an annual meeting of the Management Board. The management and control of risk is an ongoing process in the Charity. Responsibility for ensuring that there are appropriate risk management structures in place, and for reviewing those structures. is the responsibility of the Board. REFERENCE AND ADMINISTRATIVE DETAILS Registered Charity number 219790 Principal address Grwp Cynefin Ty Silyn Y Sgwar Penygroes Gwynedd Page 3
Ellen Gl nne Homes ort of the Trustees for the Year Ended 31 March 2025 Trustees Grwp Cynefin The Trustee is responsible for the affairs of Ihe Charity. but being a corporate body. this task is delegated to the Management Board. whose members are the Directors of Grfvp Cynefin. The current members and members who served during the year, and who meet twice a year are.. Mana ement board members.. Tim Jones Chair (appointed September 2023) Carys Edwards Chair {resigned September 2023) Sion Fon Vice Chair (appointed September 2023) Elen Llwyd Williams Vice Chair (resigned September 2023> Dafydd Lewis (resigned September 2023) Llinos lotwerth Mike Corlfield Jane Lewis John Antony Jones Geraint Wyn George David Lloyd Nigel Finney Ken Beech Tony Oakley Delyth Lloyd Paul Robinson Sally Baxter (signed November 2023) (resigned December 2023) (co-opted July 2023) (COwOPted July 2023) {co-OPted December 2023) {co-OPted December 2023) {Copted D8mber 2023) Com an Secrets Helen Wyn Jones Independent Examiner Emyr Rice-Roberts BA FCA Emyr Mortimer Cyf 32 Y Maes Caernarfon Gwynedd LL55 2NN Sollcltors Pritchard Jones Lane 37 Y Maes Caernarfon Gwynedd LL55 2NN Page 4
Ellen Gl nne Homes ort of the Trustees for the Year Ended 31 March 2025 Approved by order of the board of trustees on its behalf by- 10 September 2025 and signed on Helen Wyn Jones - Secretary Page 5
Inde endent Examinerfs Re ort to the Trustees of Ellen Gl nne Homes Independent examinerfs report to the trustees of Ellen Glynne Homos I report to the charity trustees on my examination of the accounts of Ellen Glynne Homes (the Trust) for the year ended 31 March 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 Acf). I report in respect of my examination of the Trusvs accounts Caled out under Section 145 of the Act and in carrying out my exarnination I have followed all applicable Directions given by the Charity Commission under Seclion 145(5)(b} of the Act. Indèpendent examinerfs statement I have completed my examination. l o)nfirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect: accounting records wera nol kept in respect of the Trust as required by Section 130 of the Act" or the accounts do not accord with those records. or the accounts do not comply with the applicable requirements concerning the form and contenl 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 aGhed. Emyr Rice-Roberts BA FCA Emyr Mortimer Cyr 32 Y Maes Caemarfon Gwyn&dd LL55 2NN Page 6
Ellen Gl ne Homes ststement of Financial Activities for the Year Ended 31 March 2025 31.3.25 Total funds 31.3.24 Total funds Unrestricted Designated Restricted fund funds funds Notes £ INCOME AND ENDOWMENTS FROM Charltable activities Charitable activities 54,758 54,758 49,870 Investment income Other income 4,078 4,078 3,894 66 Total 58,836 58,836 53,830 EXPENDrruRE ON Charltable actlvities Charitable aGtivities 76.146 76,146 64,782 Other 772 772 774 Total 65.556 NET INCOME I (EXPENDITURE) (18,082) (18,082> (11,726) RECONCILIATION OF FUNDS Total funds brought forward 155,790 114,413 240,100 510,303 522,029 TOTAL FUNDS CARRIED FORWARD 137,708 114.413 240.100 492.221 510.303 CONTINUING OPERATIONS All income and expenditure has arisen from continuing activities. The notes fomi part of these financial statements Page 7
Ellen Gl nne Homes Balance Sheet 31 March 2025 31.3.25 Total funds 31.3.24 Total funds Unrestricted Designated Restricted fund funds funds Notes £ FIXED ASSETS Tangible assets 99.023 240.100 339,123 339,896 CURRENT ASSErs Debtors Cash at bank 5.254 63,27S 5,254 177,688 2,711 187.492 114,413 68,529 114,413 182,942 190,203 CREDITORS Amounts falling due within one year {28,001) 128.001) (18.897) NET CURRENT ASSErs 40,528 114.413 154,941 171,306 TOTAL ASSETS LESS CURRENT UABIUTIES 139.551 114,413 240,100 494,064 511,202 PROVISIONS FOR LIABILITIES {1.843) (1,843) (899) NET ASSETS 137,708 114,413 240,100 492,221 510,303 The notes fomi part of these financial statements Page 8 continued...
Ellen Gl nne Homes Balance Sheet- continued 31 March 2025 FUNDS Unrestricted funds: General fund Future maintenance fund 137,708 114,413 155,790 114.413 252,121 270,203 Restricted funds: Capitsl grants fund 240.100 240,100 TOTAL FUNDS 492,221 510,303 Th8 financial statements were approved by the Board of Trustees and authorised for issue on ...-...10 September 2025 and were signed on its behalf by= TimJ Chair of the managem8nt board The notes form part of these financial statements Page 9
Ellen Gl nne Homes Notes to the Financial Statements for the Year Ended 31 March 2025 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. Going concern There are cUrntlY deemed to be no material uncertainties about the charity's ability to continue as a going conrn. Income All incom8 is r8cognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probabl8 that the income will be ceiVed and the amount can be measured reliabty. With regard the main income source. the rentsl income receivable, this is accounted for on the basis of invoices raised for the rentsl accommodation provided and from the rental of the agricultural land. This includes the direct collection for the local housing contributions, including housing benefit. collected directly from the local authority. together with personal contributions from residents. Expondlture Liabilities are re¢ognised 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 Ca italisation and use of fixed as6ets Housin Pro erties The cost of the properties and residual land value is reviewed for depreciation annually. The Trustees consider there to be no material change in the property value and so have decided that there is no depreciable amount to record. The properties, encompassing both agricultural land and the accommodation premises, are vieWed for impairment annually and again, the trustees consider there to be no impaiment at this time. Page 10 continued...
Ellen Gl nne Homes Notes to the Financial Statements - continued for the Year Ended 31 March 2025 ACCOUNTING POLICIES - continued Tangible fLxed assets Where components of the building are replaced, the cost is capitalised and depreciated over the estimated life of that component. ff not material, the original Cost of the component is written off through the statement of financial activity. Social Housin Where developments have been financed wholly or partly by Social Housing Grant (SHG), the grant received is accountad for in a restricted fund. SHG may be repayable if a propety is sold. Depreciation is provided on all tangible assets so as lo write off the cost, less estimated residual value, on a straight-line basis over the useful economic lives of the assets concemed. The following rates are Currently deemed to apply: Fumiture & equipment is depreciated on a 100/ty Straight-line basis. Taxation The charity is exempl from tax on its Charitable activities. Fund accounting Unrestricted funds can be used in accordan with the charitable objectlves at the discretion of the trustees. Designated funds are unrestricted funds that have been earmarked by the trustees for particular future proj8cls or commitments. Restricted funds can only be used for particular restricted purposes wtthin 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 not8S to the financial statements. Hlre purchase and leasing commllments Rentals paid under operating leases are charged to the Statement of Financial Activities on a straight line basis over the period of the lease. Page11 continued...
Ellen Gl nne Homos Notos to the Financial Statoments - continued for the Year Ended 31 March 2025 INVESTMENT INCOME 31.3.25 Total funds 31.3.24 Total funds Unrestricted Réstricted funds funds Deposit account interest 4.078 4,078 3,894 TRUSTEES. REMUNERATION AND BENEFITS There were no twstees, remuneration or other benefits for the year ended 31 March 2025 nor for the year ended 31 March 2024. Trustees. expensos There were no trustees, expenses paid for the year ended 31 March 2025 nor for the year ended 31 March 2024. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES Unrestricted Designated Restricted fund funds funds Total funds INCOME AND ENDOWMENTS FROM Charitable activities Charitable activities 49,870 49.870 Inv8Stm8nt income Other income 3.894 66 3,894 66 Total 53,830 53,830 EXPENDITURE ON Charitable activities Charitable activities 64,782 64.782 Other 774 774 Total 65.556 65,556 NET INCOMEI(EXPENDITURE (11,726) (11,726> RECONCILIATION OF FUNDS Total funds brought forward 167,516 114,413 240,100 522,029 Page 12 continued...
Ellen Gl nne Homes Notes to the Financial Statements - continued for the Year Ended 31 March 2025 COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued Unrestricted Designated Restricted fund funds funds Total funds TOTAL FUNDS CARRIED FORWARD 155,790 114,413 240,100 510,303 TANGIBLE FIXED ASSETS Fixtures Freehold Plant and and property machinery fittings Totals COST At 1 April 2024 and 31 March 2025 335,454 4,179 17.297 356,930 DEPRECIATION Al 1 April 2024 Charge for year 4,179 12,855 773 17,034 773 At 31 March 2025 13,628 17,807 NET BOOKVALUE At 31 March 2025 335.454 3.669 339,123 At 31 March 2024 335,454 4,442 339.896 DEBTORS: AMOUNTS FALLING DUE wrrHIN ONE YEAR 31.3.25 31.3.24 Trade deblors Amounts recoverable on contrad Other debtors Prepayments 3,686 646 569 353 1,799 569 343 5,254 2,711 Page 13 continued...
Ellen Gl nne Homes Notes to the Financial Statements - continued for the Year Ended 31 March 2025 CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 31.3.25 31.3.24 Trade creditors Other creditors 6,922 21.079 6.110 12.787 PROVISIONS FOR LIABILITIES 31.3.25 31.3.24 Provisions 899 MOVEMENT IN FUNDS Net movement in funds At 31.3.25 At 1.4.24 Unrestricted funds General fund Future maintenance fund 155,790 114,413 (18,082) 137,708 114.413 270,203 (18,082) 252,121 Restrlcted funds Capital grants fund 240.100 240.100 TOTAL FUNDS 18,082 510,303 492,221 Net movement in funds, induded in the above are as follows: Incoming Resources Movement resources expended in funds Unrestrlcted funds General fijnd 58,836 (76,918) 118.082) TOTAL FUNDS 58,836 76,918 18.082 Page 14 continued...
Ellen Gl nne Homes Notes to the Financial Statements - contlnued for the Year Ended 31 March 2025 MOVEMENT IN FUNDS - continued Comparalives for movement in funds Net movement in funds At 31.3.24 At 1.4.23 Unrestricted funds General fund Future Maintenan fund 167,516 114,413 (11.726) 155,790 114,413 281,929 (11,726) 270,203 Restrlcted funds Capital grants fund 240.100 240.100 TOTAL FUNDS 522,029 11.726) 510 303 Comparative net movement in funds. included in the above are as follows- Incoming Resources Movement resour$ expended in funds Unrestrlcted funds General fund 53,830 (65,556) {11.726) TOTAL FUNDS 53,830 65,556 11,726) Fund ur ses Unrestricted funds The general fund is available, at the discretion of the trustees, for use in the furtherance the chartty's objectives. The unrestricted balan, shown above, includes a historic endowment fund balance of £121,670. which was brought forward when the management of the charity was taken over from the Order of St John Trustee Company. This is believed to represent the holding of 1,394 accumulation shares in the National Association of Almshouses Common Investment Fund and 2,111.93 accumulation shares in Charinco Charities Narrower-range Common Investment Fund. These holdings are believed to have been disposed of in 2007, and although not directly attributable to any charitable assets therefore, this balance is excluded when calculating the chaiity's free reserve. Page 15 continued...
Ellen Gl nne Homes Notes to the Financial Statements - continued for the Year Ended 31 March 2025 MOVEMENT IN FUNDS - continued Future maintenance fund The Charity does not make provision for future cyclical works but charges actual costs incurred to the income and expenditure account. However, the Charity does designate a part of its reserves for future repairs and maintenance. This designated fund represents funds set aside for future maintenance and repairs expenditure, and was, per its governing documents, initially funded by the holing of 44 accumulation shares in the National Association of Almshouses Common Investment Fund. But since these wer8 disposed of. the amount held in the fund is delermined through the assessments made by twstees of the amounts approximated to be required. Ca ital rant funds This restricted fund, amounting to £240,100, represents a Social Housing Grant that was received in latiOn to the acquisition of the fixed asset property. Transfers During the year to March 2025. there were no transfers bets¥een the funds (2024: Nil). 10. RELATED PARTY DISCLOSURES The trustae of the chariiy is Grfvp Cynefin (GC). GC carry out all of the management functions of the Charity and are paid a management fee. This means that the majority of the costs incurred. £75,518 in 2025 (2024: £60,862). were paid to the trustee. The management fee for 2025 was £6.921 (2024: £6,110). No individuals or rporate bodies were paid for their services as Board Members. As al the year-end £20.509 (2024: £13,065) was due lo GC for accrued management and other charges etc. Page 16
Ellen Gl nne Homes Detailed Statoment of Financial Activities for the Year Ended 31 March 2025 31.3.25 31.3.24 INCOME AND ENDOWMENTS Investment income Deposit account interest 4.078 3,894 Charitable actlvitles Rental receipts 54,758 49,870 Other income Miscellaneous income 66 Total incoming resour¢e$ 58,836 53,830 EXPENDITURE Charltablo activities Hire of plant and machinery Rates and water Insurance Light and heat Caretaker's mobile Management fee Alami monitoring Voids & bad debts Cleaning Grounds & maintenance Subscriptions Repairs & renewals PmiseS expenses 599 1,285 1,792 15,156 3,218 6,921 847 2,076 684 787 358 35,288 267 1.199 1,454 1,942 12,483 3,216 6,110 787 1,491 755 657 196 28,286 446 69,278 59,022 Other Fixtures and fittings 772 774 Support Costs Finance Bank charges 62 61 This page does not form part of the statutory financial statements Page17
Ellen Gl nne Homes Detailed Statement of Financial Actlvlties for the Year Ended 31 March 2025 31.3.25 31.3.24 Finance Governance costs Auditors, remuneration for non-audlt work Professional and legal fees Accountancy & examination 840 4.859 5,506 1.300 6,806 5.699 Total resources expended 76,918 65.556 Net expenditure This page does not fomi part of the statutory financial statements Page 18