REGISTERED CHARITY NUMBER: 219805 ort of the Trustees and Unaudited Financial Statements for the Year Ended 31 October 2025 for The Nellie Fenton Tru l Fund Mccabe Ford Williams Bank Chambers 61 High Street Cranbrook Kent TN17 3EG
The Nellie Fenlon Trust Fund Contents of the Financial Statements for the Year Ended 31 October 2025 Page Reference and Administrative Details Report of the Trustees Independent Examiner's Report Statement of Financial Activities Balance Sheet Notes to the Financial Statements 8 to 13 Detailed Statement of Financial Activities 14
The Nellie Fenton Trust Fund Reference and Administrative Details for the Year Ended 31 October 2025 TRUSTEES Mr E WaKer LLB Rev J Tapper FCA Mrs J Freeslon MT TTapper Bsc Msc MRICS MCIArb PRINCIPAL ADDRESS Fenton House High Street Cranbrook Kent TN17 3EJ REGISTERED CHARITY NUMBER 219805 INDEPENDENT EXAMINER Mccabe Ford Williams Bank Chambers 61 High Street Cranbrook Kent TN17 3EG BANKERS Natwest Bank PIC 13 Market Place Faversham Kent ME13 7AF INVESTMENT ADVISORS Rathbones Investment Management 30 Gresham Street London EC2V 7QN Page 1
The Nellie Fenton Trust Fund ort of the Trustees for the Year Ended 31 October 2025 The trustees present their report wrth the financial slalements of the charity for the year ended 31 October 2025. The Iruslees have adopted the provisions of Accountin9 and Reporting by Charities.. Statement of Recommended Practice applicable lo charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 leffeclive 1 January 20191. The Trustees present their annual report together with the financial statements of the charity for the year ended 31 October 2025. OBJECTIVES AND ACTSVITIES Objectives and aims The objectives of the charty are.. 1110 provide for the relief of poverty amongst elderly persons and amongst persons in distressed circumstances, and 2110 promde a residence for impoverished elderly persons and impoverished persons in distressed circumstances being members of the Kent Quarterly Meeting of the Society of Friends and other impoverished persons as the Trustees select. The properties are based in Cranbrook, Kent. There have been no changes lo the objectives during the year. In setting objectives and planning for actiwlies, the Trustees have given due consideration lo general guidance published by the Charity Commi55ion relating to public benefit, including the guidance 'PubSic benefit.. running a charty IP821'. ACHIEVEMENTS AND PERFORMANCE Revigw of activities The results for the year are set out on page 8. The lolal income for the year. including interest eamed on the accumulating investment held in the Extraordinary Repairs Fund, was £34,86712024- £36,586). Expenses amounted to £27,30912024 - £36,025) for the year. Overall, there was a surplus for the year before investment movements of £7.55812024- surplus of £5611. Nel gains on investments amounted lo £50,349 12024 - nel gains of £46.0921 leaving an ovfjrall surplus for the year of £57,90712024 - surplus of £46,653). Investment policy and pgrforman¢g The Trustees, investment policy is low risk wlh the aim of maintaining capital whilst earning sufficient income to meet the annual expenditure of the Charity. FINANCIAL REVIEW Financial review After making the appropriate enquiries, the Trusteès have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. For this reason, they continue lo adopt the going conrn basis in preparing the financial stslemenls. Further details regarding the adoption of the going concern basis can be found in the accounting policies. Page 2
The Nellie Fenlon Trust Fund Re ort of the Trustees for the Year Ended 31 October 2025 FINANCIAL REVIEW Reserves policy Unrestricted Funds The unrestricted funds of the Charity consist of the income and expenditure account and other income funds, including designated funds. 11 is the Trustees, aim to maintain unrestricted funds at a level sufficient to meet one yearfs expenditure. The current level of £30,844 meets this largel. It continued to be the Trustees, policy to transfer the Almshouses Association's recommended sums from the general funds lo designated funds whilst still keeping residents, contributions as low as possible. Designated Funds Reserve for building mainlgnance and repairs Established by the Trustees to provide for the maintenance and repairs of the buildings. the balance at 31 October 2025 was £6,13212024- £5,840). Cyclical malntonance fund Established voluntarily in accordance wf(h powers contained in the Charity Commissioners Scheme lo provide for items of ordinary maintenance of the almshouses, which recur al Infrequent intervals. The fund balance al 31 October 2025 was £19,83212024- £15,463>. Extraordlnary repalrs fund Established compulsorily in accordance wf(h the Charity Commissioners Scheme to provide for the extraordinary repair, improvement or rebuilding of the almshouses. The fund balance al 31 October 2025 amounted to £17,LIS212024- £5,350). Endowment funds The endowment funds represent the Eslale Account and comprise the Pem)anenl Endowmgnl of the Charty. Endowments funds at 31 October 2025 lolalled £385,58212024 - £353,379). STRUCTURE. GOVERNANCE AND MANAGEMENT Structure, governance and management The charrty is controlled by its governing document, a deed of trust and conslitules an unincorporated charty. a. Constitution The Charity, known as the Nellie Fenton Trust Fund, was founded by the will of Nellie Lydia Fenton proved in the Principal Registry on 31 October 1957 and comprised in an Order of the High Court of Justice Ichancery Division) on 28 July 1958. A subsequent Charity Commissioner's Scheme was approved on 8 June 1976. b. Methods of appointmgnt or glgction of Trustees The management of the charity is the responsibility of the Trustees who are elected and cwpled under the lemis of the Trust deed. c. Risk management The Trustees have assessed the major risks lo which the charty is exposed, in particular those related lo the operations and finances of the charity, and are satisfied that systems and ProdureS are in place lo miligale exposure to the major risks. Plans for future perlods The Trustees will continue to support the aelivities of the Charity for the foreseeable future. TRUSTEES, RESPONSIBILITY STATEMENT The trustees are responsible for preparin9 the Report of the Trustees and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). Page 3
The Nellie Fenlon Trust Fund ort of the Trustees for the Year Ended 31 October 2025 TRUSTEES. RESPONSIBILITY STATEMENT- continued Charity law requires the trustees to prepare financial statements for each financial year. Under that law, the Iruslees have elected to prepare the financial statements in accordan wrth United 'ngdoM Generally Accepted Accounting Practice Iuniled Kingdom Accounting Standards and applicable lawl. Under charity law the trustees musl not approve the financial Statements unless they are satisfied that they give a true and fair view of the slate of affairs of the charity and of the incoming resources and application of resources, including the income and expenditure, of the charity for that period. In preparing those financial slalemenls, the trustees are required to select suitable accounting policies and then apply them consislenlly., observe the methods and principles in the Charities SORP", make judgements and estimates that are reasonable and prudent., prepare the financial statements on the going concern basis unless f( is inappropriate lo presume that the harity will continue in business. The trustees are responsible for keeping proper accounting records which disclose wi(h reasonable accuracy at any lime the financial position of the charity and lo enable them to ensure that the financial statements comply with the Charities Act 2011 and The Charty (Accounts and Reports) Regulations 2008. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. Approved by order of the board of trustees on 8 June 2026 and signed on its behalf by.. Rev J Tapper- Trustee Page 4
Inde endent Examiner's Re ort to the Trustees of The Nellie Fenton Trust Fund Independent examiner's report to th& trustees of The Nellie Fenton Trust Fund I report to the charity trLJStees on my examination of the accounts of The Nellie Fenton Tiusl Fund Ithe Trust) for the year ended 31 October 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 I'lhe Act'i. I report in respect of my examination of the Trusfs accounts carried out under Section 145 of the Act and in carrying out my examination I have followed all applicable Directions given by the Charity Commission under Section 145{5llb} of the Act. Independent examlner's statement I have COTnpleled my examination. I confirm that no material matters have come lo my attention in connection with the examination giving me cause lo believe that in any material respect". accounting records were not kept in respect of the Trust as required by Section 130 of the Aet., or the accounts do not accord with those records", or the accounts do not compty with the applicable requirements conceming 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 wf(h the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts lo be reached. D N A Boobbyer FCA Mccabe Ford Williams Bank Chambers 61 High Street Cranbrook Kent TN17 3EG 8 June 2026 Page 5
The Nellie Fenton Trust Fund Statement of Financial Activities for the Year Ended 31 Octobei 2025 31.10.25 Tot81 funds 31.10.24 Total funds unstriCted funds Endowm8llt fund Notes INCOME AND ENDOWMENTS FROM Charitable aclivilie$ 25,623 25,623 24,154 Investment income 9,244 9,244 12,432 Total 34,867 34.867 36,586 EXPENDITURE ON Charitable activities Charitable activities 24,278 24,278 33,358 Other 3,031 3.031 2,867 Total 24,278 3,031 27.309 36,025 Net gains on investments 15,115 35,234 50,349 46,092 NET INCOME 25,704 32,203 57,907 46,653 RECONCILIATION OF FUNDS Total funds brought forward 48.157 353.379 401.536 354.883 TOTAL FUNDS CARRIED FORWARD 73,861 385,582 459,443 401,536 The notes form part of these financial statements Page 6
The Nellie Fenton Trust Fund Balance Sheet 31 October 2025 31.10.25 Total funds 31.10.24 Total funds Unr85trieted funds Endowment fund Notes FIXED ASSETS Tangible assets Investments 1,119 57,273 1,119 430,891 373,618 383,834 58,392 373,618 432,010 384,953 CURRENT ASSETS DebloTS Cash 81 bank and in hand 728 20,833 728 32.797 2,686 19,959 11,964 21,561 11,964 33,525 22,655 CREDITORS Amounts falling due within one year 16,0921 16.092} 16,0721 NET CURRENT ASSETS 15,469 11,964 27,433 16,583 TOTAL ASSETS LESS CURRENT LIABILITIES 73,861 385,582 459,443 401,536 NET ASSETS 73,861 385,582 459,443 401,536 FUNDS Unrestricted funds Endowment funds 10 73.861 385.582 48.157 353,379 TOTAL FUNDS 459,443 401,536 The financial statements were approved by the Bi)ard of Trustees and aulhorised for issue on 8 June 2026 and were signed on ils bohalf by.. Rev J Tapper- Trustee Mr E Waller- Trustee The notes form part of these financial statemenls Page 7
The Nellie Fenton Trust Fund Notes lo the Financial Statements for the Year Ended 31 October 2025 GENERAL INFORMATION The Nellie Fenton Trust is an unincorporated charity with the registration number 219805. The address of the principal office is Fenton House, High Street, Cranbrook, Kent, TN17 3EJ. ACCOUNTING POLICIES Basis of preparing the financial statements The financial stslements of the charty. which is a public benefit gnlily under FRS 102, have been prepared in accordance with the Charf(ies SORP IFRS 1021 Accounting and Reporting by Charities.. Slalement of Recomrnended Practice applicable to charrties preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ire5and IFRS 1021 leffeclive 1 January 20191,, Financial Repotting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland, and the Char(ties Act 2011. The financial statements have been prepared under the historical cost convention, with the exception of investments which are included al market value, as modified by the rev8lu81ion of certain 85sels. The presentslion currency of the financial slalemenls is the Pound Sterling (£1. Income All income is recognised in the Slalement of Financial Activities once the charty has enlitlemenl lo the funds, it is probable that the income will be received and the amount can be measured reliably. Expenditure Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity lo that expenditure, it is probable that a transfer of economic benefrts will be required in settlement and the amount of the obligation can be meaSUd reliably. Expenditure is a¢counled for on an accrLJals basis and has been ¢185sified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed lo particular headings they have been allocated to activities on a basis consislenl with the use of resources. All expenditure is inclusive of irrecoverable VAT. Fraohold property The original cost of the Almshouses is based on their value in 1957. The economic useful value would be well in excess of the carrying value so no depre¢ialion has been charged. Taxation The charity is exempl from tax on ils charitsble aclimlies. Fund accounting Unrestricted funds can be used in accordance with the charitable objectives al the discretion of the trustees. Reslricled funds can only be used for particular reslricled purposes wlhin the objects of the charty. Reslriclions arise when specified by the donor or when funds are raised for particular reslricled purposes. Designated funds comprise unfeslricted funds that have been set aside by the Trustees for particular purposes. Endowment funds represent permanent endowment funds provided under the original will and musl be retained within the Charty. The aim and use of each designated fund is sel out in the Trustee's Report. Investrnenl income, gains and losses are allocated to the appropriate fund. Page 8 continued...
The Nellie Fenton Trust Fund Notes to the Financial Statements - continued for the Year Ended 31 October 2025 ACCOUNTING POLICIES - ¢ontinugd Going concem The Trustees assess whether the use of going conrn is appropriate i.e. whether there are any material uncertainties related lo events or Conditions that may cast significant doubl on the ability of the Charrty lo continue as 8 going ¢on¢ern. The Trustees make this assessment in respect of a period of at least one year from the dale of aulhorisation for issue of the financial slalemenls and have concluded that the Charity has adequate resources lo continue in operational existence for the foreseeable future and there are no material uncertainties about the Charity's ability lo continue as 8 going ¢oncern. thus they continue to adopt the going concern basis of accounting in preparing the financial statements. INVESTMENT INCOME 31.10.25 31.10.24 Listed investments Cash investments 9,069 175 12,29S 136 9,244 12,432 TRUSTEES. REMUNERATION AND BENEFITS The were no trustees, remuneration or other benefrts for the year ended 31 October 2025 nor for the year ended 31 October 2024. Trusteos. expenses In accordance wf(h the provisions of the will of Nellie Fenton, Mr E Waller has Charged the Trust £240 in respect of professional services provided for the year ended 31 October 202512024 £3471. Buss Murton Law (South Eastl Limited. for whom Mr Walter works as a director, made the charge. There was an amount oulslanding of £39012024- £3471 at the balan sheet date. During the year, expenditure lolalling £130 was re-imbursed to one Iruslee regarding gifts to residents. No other expenses or fees were paid to the Iruslees during the year. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES UnStrICted funds Endowmènt fund Total funds INCOME AND ENDOWMENTS FROM Charitable activities 24,154 24,154 Investment income 12,432 12,432 Total 38,586 36,586 EXPENDITURE ON Charitsble activities Charrtable activities 33.358 33,358 Other 2,667 2,687 Total 33,358 2,667 36.025 Net gains on investments 11,566 34,526 46,092 Page 9 continued...
The Nellie Fenton Trust Fund Notes to the Financial Statements ¢ontinued for the Year Ended 31 October 2025 COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES . continued Unrestricted funds Endowment fund Total funds NET INCOME 14,794 31.859 46.653 RECONCILIATION OF FUNDS Total funds brought forward 33,363 321,520 354,883 TOTAL FUNDS CARRIED FORWARD 48,157 353,379 401,536 TANGIBLE FIXED ASSETS Fre8hold pioperty COST Al 1 November 2024 and 31 October 2025 1,119 NET BOOK VALUE At 31 October 2025 1,119 At 31 October 2024 1,119 FIXED ASSET INVESTMENTS Listed investments MARKET VALUE Al 1 November 2024 Additions Disposals Revaluations 383,834 50,850 154,142} 50,349 Al 31 October 2025 430,891 NET BOOK VALUE At 31 October 2025 430,891 At 31 October 2024 383,834 Investment funds are held in portfolios managed by UK-based fund managers. The underlying investments comprise a diversified mix of UK and international holdings. Page 10 continued...
The Nellie Fenton Trust Fund Notes to the Financial Statements - continued for the Year Ended 31 October 2025 FIXED ASSET INVESTMENTS- continued Cost or valuation al 31 October 2025 is represented by.. Listed investments Valuation in 2925 Cost 47,057 383,834 430,891 DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 31.10.25 31.10.24 Other debtors Prepayments 2,157 529 728 728 2,686 CREDITORS.. AMOUNTS FALLING DUE WITHIN ONE YEAR 31.10.25 31.10.24 Other creditors 6,092 6,072 10. MOVEMENT IN FUNDS Net movement in funds Transfers betsveen runds At 1.11.24 At 31.10.25 Unrestricted funds General fund Extraordinary Repairs Fund Cyclical Maintenance Fund Reserve for Building Maintenance 21,504 5,350 15,463 5,840 19,380 9,044 110.0401 2,668 4,360 3,012 30,844 17,062 19,823 6,132 12.7201 48,157 25,704 73,861 Endowment funds Endowrnenl Fund 353,379 32,203 385,582 TOTAL FUNDS 401,536 57,907 459,443 Page11 ¢ontinued...
The Nellie Fenton Trust Fund Notes to the Financial Statements - continued for the Year Ended 31 October 2025 10. MOVEMENT IN FUNDS- contlnued Net movement in funds, included in the above are a5 follows.. Incoming r8sourc8S Re50urc8S expgnded Gain5 and lojses Movement in funds Unrestrictod funds General fund Extraordinary Repairs Fund Reserve for Building Maintenance 34.268 599 121,5581 6.670 8,445 19.380 9,044 12,7201 {2,7201 34,867 124,2781 15,115 25,704 Endowmentfunds Endowment Fund {3,0311 35,234 32,203 TOTAL FUNDS 34,867 127,3091 50,349 57,907 Comparatives for movament in funds Nat movemènt in fund5 Transfèrs b8tW8en funds At 1.11.23 At 31.10.24 Unrestricted funds General fund Extraordinary Repairs Fund Cyclical Maintenance Fund Reserve for Building Maintenance 14,917 2,556 13,006 2,884 16,403 186 11,8071 12 19,8161 2,608 4,264 21,504 5,35Ql 15,463 5,84CI 33,363 14,794 48,157 Endowmentfund$ Endowment Fund 321,520 31,859 353,379 TOTAL FUNDS 354,883 46,853 401,536 Comparative nel movement in funds, included in the above are as follows.. Incoffling re50ur¢e$ Resources expended Gains and losses Movement in funds Unrestricted funds General fund Extraordinary Repairs Fund Cyclical Maintenance Fund Reserve for Building Maintenance 34,428 2,093 53 12 123,7851 17,7131 11,8601 5,760 5,806 18,403 11,8071 12 36,588 133,3581 11,566 14,794 Endowment fund$ Endowment Fund 12,6671 34,526 31,859 TOTAL FUNDS 36,586 136,0251 46,092 46,653 Page 12 continued...
The Nellie Fenton Trust Fund Notes to the Financial Statements - continued for the Year Ended 31 October 2025 10. MOVEMENT IN FUNDS- continuod A current year 12 months and prior year 12 months combined position is as follows.. Nel movement in funds Transfers between funds At 1.11.23 At 31.10.25 Unrestricted funds General fund Extraordinary Repairs Fund Cyclical Maintenance Fund Reserve for Building Maintenance 14,917 2,556 13,006 2.884 35,783 9,230 11,8071 12,7081 119,8561 5,276 8,624 5,958 30,844 17,082 19.823 6,132 33,363 40,498 73.861 Endowment funds Endowment Fund 321,520 64,062 385,582 TOTAL FUNDS 354.883 104,560 459,443 A eurrenl year 12 months and prior year 12 months combined nel movement in funds. included in the above are as follows.. Incoming sources Resources expended Gains and losses Movement in funds Unrestrlctgd funds General fund ExtraoTdinary Repairs Fund Cyclical Maintenance Fund Reserve for Building Maintenance 68,696 2,692 53 12 145,343} 17,713) 11,8601 12,7201 12,430 14,251 35,783 9,230 11.8071 12,7081 71,453 {57,6361 26,681 40,498 Endowment funds Endowment Fund 15,698} 69,760 64,062 TOTAL FUNDS 71,453 163,3341 96,441 104.560 11. RELATED PARTY DISCLOSURES There were no related paty transactions for the year endèd 31 October 2025. Page 13
The Nellie Fenton Trusl Fund Detailed Statement of Financial Activities for the Year Ended 31 October 2025 31.10.25 31.10.24 INCOME AND ENDOWMENTS Charitable activities Rent Meter collections 25,623 24,Cl59 95 25,623 24,154 Investment income Listed investments Cash investments 9.069 175 12,296 136 9.244 12,432 Total incoming resources 34,867 36,586 EXPENDITURE Other Investment management fees 3,031 2,687 Support Costs Managom¢nt Insurance Electricity Gas Cleaning Repairs and renewals Council lax Garden Sundrie5 Water 1,374 1,233 3,534 407 2,720 4,976 2,352 438 1,561 1,547 1,342 4,597 363 10,773 5,777 1,440 532 1,234 18,595 27,605 Governance costs Accountancy and legal fees 5,683 5,753 Totsl resources expended 27,309 36,025 Net income before gains and lossos 7,558 561 Net gains and losses Net gainsAosses on fixe(* asset investments 50.349 46,092 Net ineome 57.907 46,653 This page does not form part of the statutory financial statements Page 14