Chorlty Nmb•r. 219916 Wiggln Cottogè Homes Trustees, report and finonclal stotements For the yeor ended 51 Morch 2025 rfJDAINS
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Wlggln Coltoge Homes Cont•nts Poge Reference and odmlnL8trotbve details of Charilw its TfUSt••s and advlsers Trustee¥ roport Independent txarrin•r's r•port Stattm¥nt of finorKbul actfvltles Bolanc• sheet Note5 to th• Ilnondal stotementg 8-15
Wlggln Cottay Homes P*f•r•nte and adm1ntratIve d•tak of th• Ch¢Y{l It$ Tru8tees and serS For th• year •nd•d JI Mgrch 2025 Trust••$ B H E Wggln. Chulrmon 8 Toner J Bennett rltu r•glst•r•d nvmber X9916 prapOl offic• Woterslde Hovse Unlt I Woterslde BUne$S Pork 1649 Pershore Rood Stlrchley Blrmlrsgham 830 3DR Accountants Doin5 Audit Limlted 2 Cmber11n Square Blrmlnghom B3 SAX P8g8 1
Wlggln Cottagtr Hom•s Trustse< roport For the yeor end•d 51 Morch 2025 The Trustees present thelr onrbuol report together with the llnondal stgtements ol the ChltY for the year 1 Aprll 2024 to 31 March 2025. Structure, goVernun arrtl managemèrt o. Constitutkjrn The Chorltu WQ5 creoted by Slr Hewy WlggSn Bt, by o deecl doted 21 December 1899 urthr whlch freehold property at NoOrTre was grfted to Ihe Trustees for the usè of suth ryJed or Inflrm persons os the Twstees consldered deservlng in accordonTr %th the objects of chorlty. Under o separ(rte deed doted 8 Jonuory 1900 certain hxed Interest securltles were tronsferred to the CharStu. Thls deed dlrected thot irivestment inccme orKJ rentol Income should be used flrstly to poj for necessory repairs to the Chorlty property and for insurtng the property. The Icrtest Trust Deed wos reglstered wffh the Charity Comftlsgon on 2 November 1994. Wiggin Cottage Homes Is o reglstered chttrity. number 219916, b. Organlsotknal structure and dèdlon-moklng pDIIth$ The mttnogement of the Chorlty b the responsltslllty of the Trustee5 who ore eletted ond co-opted urider the terfns of the Trust deecL The &Jard conslsis of ot leost three volunteer Trusiee& who meet two liwes per yeor. and rely on their mnoging Ogents. Broodenlng Cho4ce5 for (Jder People. io ensure theu comply wmh oll requlred legislatlcx) L)nd best proctice. recelvlng quurrerly updates belmeen BoarLI meetings. ObJ•afv•s ond aCtItIeS a. Prlnclpol g¢livilU ond obl•¢tlv•s The Chorfty's principal octivity Is the runnlng ol olmshouses In 8lrmlnghom. Its chorituble oblectlves ore to wovlde o frlendly. homely erwironment for its olmshouse terrnt5 wffh respett for their priv{y. The freehold property Horborr£ wos gifted to the Trustees for the use of such ed or Inflrm persons as the Trustees consldered (Jeserving in occordonce with the objects of the Chorlty. The deed directed Ihoi investment Income ond rental incOff should used firsrly io pay for necessary reptslrs to the Charlty property ond insurlng the property. In seiiing objethve5 and plonnlng for octiwtie& the Trustees have given due considerotion to generol guIdoe ubllshed by the Chority CommliOn relotlng io publlc benefit, includlng ihe guldonce 'Public benefit". runnlng o chorlty (P82)'. Page 2
Ivlggln C¢iioq• Hom•s Truste•s' report (continu•d) For thè y•or •nd•d 31 March 2025 Achlevements and perforniance R•vl•w of actfvldos The Charu continues to ¢perote stK units thot ore owned (2024 - six). nonthl rev Revlew of fin0nl activities The surplus lor the year ended 31 March 2025 amounted to £21.102 (2024- £31.445J Total furM15 (IS ot 31 March 2025 omounted to £462.53012024- £441.428). The Trustees lIeVe the Ilnonclal poslfjon ot the year end Is odequate to meet ihe Choritys oblectlves for the forthcomlng yeor. b. R•8ow$ polku At 31 Morch 2025. the Chorify hod endowment furK15 of £58.852 (2024- £58.852), unrestrttecl funds of £311.02B (2024. £258.481) ONI restcted funds of £92.650 (2024 - £92.650). Reserves ore belng mointained to fund the chorttoble octivity of runnlng the dmshovse& c FI[1101 ri* mgTh)g•rn•nt obl•ctlv•s and pollcl•s The Trustees hove consldered the mojor r to which the Chorfty is exposed and hove establSshed systems ond Interntsl controls to mr(lQOte them. d. Inv•stm•nt ptslitrJ and returns The Trustees ¢onfjnve to review Investment policy on o regular bosls. •. Golkyj concern Alter Mon9 oppropriate enqulrles. the Trustees hove o reosonable expectahon thot the Charlty hgs odeouote resources to continue In operotlonol existence for the foreseeable future. For thls reason. they continue to odopt the golng contrrn blS In preporing the finonclol stotements. Further detolls regording the adoption ol the goiro concern basls can be fouNI In the (Kcounting pollcles Page 3
gG4n Cottogt Tr[e¥ report (¢¢>fttlnu•d) For the year endtd 31 March 2025 f. Futur• developments The monogin9 Ogent. Broodenlw Cholces for Older People. 51 contlnve to mointoin the Charitls property ond invest In ony improvements thot are requId so os to te able to contlnve to provlde o frIelU. hornely environment for Sts olmshouse beneflclones. u&ng the Wlg9ln COtt(e Homes funds ov(xkJble. In 2025/26 the Board wlll begin the formol process quired to merge WIgn Cottoge Homes Into Broodening Chdces lor (Xder People (registered chority number.. 1074954) ¢rt¢mènt ot Trustees, rpolrrtI8S The Trustees ore reSpsIble for preptsrlng the Trustee5' rert ond the finentsol siotements In occordonce opplicoble low ond Unlted KiniJdtsm Accountlng Stondords (United Klngdom Generully Accepted Accounting Practi). The low opplicoble to charmes In Englond & Wales requlres the Trustees to prepore flnanclal stotements for eoch finonctjl whlch glve a true arKI folr vlew of the State of offoirs of the Charltu und of Its irfomlrt9 resources ond appllcatlon of resour5 Includlng Its Income ond expendture. for thot period. In preparing these linonciol stotements the Trustees are required to.. select Sultab occovntlng rK)Ildes and I1n apply them consisiently.. observe the methods ond prinaples of the Chorlties SORP IFRS 102).. moke judgements and COUntIng estimates thot are reanble ond prudent state whether oppllcoblè UK AccountirKJ StorKlor(ts (FRS 102) have been followed. subject to ony material depurtures dlsclosed and explained in the flnoncial statements.. prepare the flnonclol stateffonts on the golry concern bosls unless rt is Inopproprk)te to presume thtst the Chortty wlll contlnue In bufftS The Trustees ore responsible for keeplng odequate accountlng recorLk that ore sufflclent to show ond explain the Chorlly's trorwictions and disclose ¥thth reasonable occuracy at any fjme the financial positson of the Chorfty orn entse them to sUre thot the Ilnonclol statements comply wf(h the Charitses Act 2011. the Choriiy (Accounts ond Reports) Regulations 2008 and the provlslorb5 of the Trust deed. They a olso responble for sirfeguordiry the ossets of ihe Chority and hence lor toking reosonotrAe step5 for the prevention ond detectbn of froud ond other Irregulorf(les. Approvd by orde¥ of the members of the boord of Trustees and slgned (Y) thelr beholf ty.. $ lif IyJ7 8 H E Wlggln 8 Toner Trustee Trustee LJte'. L.11. 1l+.11.tS Page 4
Wiqgln Cottoge Homes Independ•nt ex(smin•r's report Forth• y•ar •nd•d 51 Morch 2025 Independent •xomin•r's report to the Trust•¢s of Wlggln Cottoye Hom•8 Cthe Chorttw) I report to the Chorfty Trustees on my exorrlnollon of the flnonciol Statements of the Chorr(y for the yeor ended 31 Morch 202& wNch are set out on paoe$ 6 to 15. RespordbIlli and ba$ls of r•port As the Trusrees of the Chorrty you are responslble lor the preparotlon of the finonclal stotements In (CordOn th the requirements of the Charltles Act 2011 Cthe 2011 Acr). I report In respect of my exatninotlon of the Charltys flnonclol stotefflents corrSed out urKJer 58cUon 145 01 the 2011 Aa arKI In corrylng oJt my exominotlon I hove followed the oppllc0e Dlrettions glven by the Chortty COMMIS0 under settion 14%5)(b) of the 2011 Act. Ind¢p•nd•nt •xarriner's stat•m•nl I hcwe c¢Jmpleted my exalnatIOn. I conflrm that no molters hove come to my ottentbn In connethon wrth the exomlnaik>n giving me couse to belleve thot In onu motertal respert accountlThJ records not kept In respect of the Chorlty os requirèd by sectlon 130 of the 2011 Act,. or the financlal stotements do not accord with those recor. or the flmnclol sttstements (k) not comply wrth the appltoble requlrements concemlng the form ond content of rinonciul st(Jtement5 set out In the Choribes (Accovnts ond Reports) Regvlotlons 28 other thon ony requlrement that the fvnanclol stotements glve ts Irue and fav vlew whkh Is not o motter considered 0$ port of un Independent extsminotlorL l rr) coemS ond hove corne across no other nkniers In connectlon the exominotion to whlch attentlon should be drawn In th15 repotT In order to enoble ts proper understalIng of the fInCl01 stotements to be reuched. ThLs report Is Ma solely to the Chorlty's Trustees. os o bcéy. in occordonce wth Part 4 of the CharItI {Accounts ond Reports) RegvlatTOn5 200a Mu work hos been undertoken so thot I might stole to the Chorycu's Trustees those moners I om required to stote to them In on Independent exominerfs report and for no other purpose, To the fullest extent perrrltted bu low. I do not accept or ossume responsibility to onyone other thon ihe ChorSty ond ihè Chtsrlty's Trustees os o body. for my work or for thos report. Signed.. Ooted: 27/11/2025 A(¥Jrew Morris FCA Dclns A(Kllt Limlted Elrmlngham Page 5
ggln Cottage Home5 Stotèmnt of flnanclal oaivities For the uear ended 31 Morth 2025 Unrestricted fvn(ts 2025 Rèstrlcted Endowm¢nt funds funds 2025 2025 Totul fund$ 2025 Totol funds 2024 Not• Incomt from- Donatlons and legacles Chorttoble Ochwtses 120 120 44.598 44.598 49.344 Investtnents 4.870 4.870 1.652 Total income 49.588 49.588 51.497 Expenditure on: Chorltable octlvities 486 20.052 Toiol expendtture 2&486 28.486 20.052 Nèt mov•m•ni kn funds 21.102 21.102 31.445 R•condliation of funds: Total funds brought forword 12 289.926 92.650 S&852 441.428 409.983 Net movement In lurids 21.102 21.102 31,445 Total fvnds carrl•d forword 12 511.028 92.650 58.852 462,530 441.428 The notes cn poges 8 to15 form port of these finonclol statemen Page 6
19gkn Cottag• Hom•s Re&4st•r•d numb•r. As at 51 r¢h 2¢Y25 2025 2024 Note FLYe(1088•ts Tonglble owts Curr•nt osgéts 267,754 231.278 Debtors 10 100.616 2111n Cvrrent lobilkies CredY(ors amounts lolling dve wlthln one year (5.84Q) (2.021) 194.776 210.150 Total net assets 462.530 441.428 Churlly funds Endowment funds 12 58.852 58,852 Restrlcted funds 12 92.650 92,650 Unrestrlcted fur 12 311.028 289.926 Total funds 462.530 441.428 The Ilmnciol stotements were approved and outhonsed lor issue by the fruslees and slgned on thelr beholf by.. H E %*llggSn Trustee Ton•r Trustee The notes on poges 8 to 15 lorm port of these fimnciol stotements. Page 7
Wygln Cottoy Homès Not•s to thg flnonckil ¥t¢em•nts For th• yr ended 31 Murch 2025 General Inforwnution Wogin Cottoges Homes Is an unlncorporoted chorlty gIStered the Chority Comrrdgn for England an¢4 Woles. The ocklress of the Chonty's reglsrered office is W(rters4de House. Unf( 3 Woterslde Buslness Pork. 1649 Pershore Rood. Stlrchley. Blrmingham, West Mldlands Englond 850 3DR. £e¢)vntlng polldes 21 Bosis of prepurthlon of financlol siuiam•nts The financial statefnents hrwe been ppored In occordonce wlth the Chorities SORP (FRS 102)- Accountlng und Reportlng by Chorltle& Stotement of Recommended Practice opplicoble to choritEs prewrlng thelr flnorri¢l stotements in occordance wtth the Flnonclal RepLYtSng Stondord oppllcotle In the UK oncl Republlc of Ireland IFRS 102} (effective 1 January 2019). the Finttnclol ReportitKJ Standord opplicoble In the UK and Aepubllc of Irelond (FRS 102) and Chorilles Act 2022. The finonclol stotements have been ppored to glve a 'true ond vlew and have deporred Irom the Chorities (Accounts ond ReF)Orts) Flegulofjons 2008 only to the extent required to provide a 'true oré folrf vlew. This deponure has Involved lollowlng the Charities SORP (FRS 102) published In October 2019. Wkjgln Cottage HorrEs meets the defItIon of o pU1C benefft enttty under FRS 102. Asset5 ufid liobilloes are initiolly recognlsed ot histomcol cost or transaction valL* unless otherwbse stated In the relevoni occountlng policy. 12 Going cDn¢èm The Trustees have ConsIder he golng concern concept ond any associoted moterlol urertaIntie5, the bosis of ony slgnlficant judgements ond the motters to conslder when conflrmlng the preporollon of the flnunclol stotements on o golng coKern basis ond the Trustees are comlortoble Ihot there ore no odjustments required. The Trustees expett the Charlty to contlnue in Operlon for ot least 12 month5 from the date of gn1rng the flnonclol statements. 13 Income All income Is recognlsecl once the Charity hos entitlement to the incom& It Is protoble that Ihe Irome wlll be received and the omount of income recelvable con be meogured relSobly Incoming sOurceS from thorftoble OctIeS relote to housing beneflt and rents reoived dlrecily Irom tenancies in respect ol the almshouse tenoncles. Investment IrKome Is cKcounted lor on an occruols bjsls. Psge 8
Vfiggin Cottoge trknmes Notes to the finandol stotements For thè u•ar •nd•d 31 March 2025 countlrq pol1d9s(nt1nved) 2.4 Expenthture EXpdItUre Is recognlsed once the is a legal or c$1cVe obligation to tronsfer economlc benefit to thlrd party. Ycls probable thot o tronsfer of economt be1$ I11 be requlred In settlement and the omount of the obllgotlon con be meosured lIably. Expèndrture on chorltable 0ltIeS Is iUrred on directly undertoking the octwities which further Chtsrity's objeLllve& os well os ony 055(rKrted support Costs. Governonce costs comprlse oll costs Involwng the wblic octountobllltu of the Charltu and its Complian th regulation ond good procttce. TIEse costs Inclu( costs reloted lo Sndependent eX0rTNnatn. monagement ond legol lees All expenditure irKluslve of Irrecoveroble VAT. 2.5 Tuxath)n The Chtsrtty is considered to poss the te$ set out in Paragraph 1 Schedule 6 01 the FlThJnce Act 2010 ond therefore it ffleets the definitlon of o chorfioble compony lor UK corrx)rotlon tax purpose5. Accordlngly. the Choriry Is exempt from taxatK)n in respect of Income or copitol goins recelved within ctrtegorles covered b Chopter 3 Port 11 ol the Corporatlon T(TX Act 2010 or Section 256 of the Toxotlon of chorge0e Galns Act 1992. to the extent thtst Such Incolre or golns ore applled excluslvehJ to charttoble purposes 2.6 TgIbl¢ Tr•d ¢xs•ts ond d•pr•cknlon C05t of the Inltlol constructlon ond eqvlpplng ol the Chorn$ prorerties. or extenslons thereof, ore corytolisecl a1 Included in freehold property In the bolonce sheet. Freehold land Is not deprecioted. Depreciotlon on hougw properbes Is charged so os to ollocate the cost le thelr resldtsol volue over thelr esfjmated Ljseful Ilves In equol onnuol Instolments trom the dale of completion of the last major relurbishment work ofier purchose. The eslrwted useful lives are os follows.. Freehold property 100 years Impolrment reewS ore cofiled out onnuollu provlslon mode ogoinst the carruyng volue where opproprlote. 2.7 D•btors Debtors ore recognised ot the settlement omoLJnt. Piepoymenls e valwd at the omount prepuld. 18 UabS1tt1gs Llobilltles ore recogSed when there is an obllgotlon ot 8OlcJn sheet d¢)te a5 0 iesult of a post event. It Is proboble thot o iransfer of economlc beneflt w511 be requlred In $tleMent. ond the amount of the settlement con be estlmted reliably. "alItIeS ore recognlsed ut the omount thot the Chorrty onttitM)tes it will pou to settle the debt or the amount it hos recelved os ocfvanced poyments for the goo(Js u services It must provlde. Page 9
IiThJgln Cottage Homés Not¢$ to th¢ flnanclol stgtemÈnts For the ueor ended 31 Morth 2025 Actt•UMltwJ polklo$ <¢¢ntlnue6) 2.9 F*ngI Instruments The Ctrnrfty only hos fIrnoI 0s5ets and flThJndol Ilobllltles ol o kind thot quo1fjfy as btssic flmndol irnstruments. Bosic flnoncld Instruments a Irltlolly recognlsèd (rt trorysoctlon value and subsequently meowred ot thelr settlement value. 110 FurKI o¢¢ounting Unrestricted funds a funds which ore ovolloble for use at the dietn of the Trustees in furtherorKe of the general objectwes of the Chorfty tsnd whlch have not been deg9lKlted for other purposes. Restrlcted funds ore funds which ore to be used In ttcordtsnce wh speclflc restrttions imwsed by donors or whth hove been roised by the Charity lor portlcukir purFoses. Restricred lunds relate io housing 9ronts rettived and ore being unwound across the perlod the ossodoted ossets ore belng depreocrted. ErMk)wment furKls ore funds gNen to be held 0$ copltal. Inve5trn¢nt Income. golns and losses ore ollocoted to the appropriote fuTYI. In¢om• from donthions und l•goci•s lthrestrlct•d I5 2025 Tthol funds 2025 Totol fund¥ 2024 Donutions 120 501 Income from ¢horltable actltIeS Unrestrkted funds 2025 Total fvnds 2025 Total fund5 2024 Rems recelved 44.598 44.598 49.344 Page 10
vjgoln Cotti>oe Homes lot•s to thè finorKl¢Jl 5ta¢ements For th• Year ènd•d 31 March 2025 Investment Income Unrestrlcted funds 2025 Totul fund$ 2025 Total funth 2024 Inve#ment IOrne- connected ¢horities 4.870 4.e70 1.652 E¥pethJltvre on tharltobl• a1¥11108 Total funds 2025 Total funds 2024 Operotlng costs 21.455 12.614 GovernorKe costs 7.051 7.438 20.486 20.052 G)verr4Jnce costs corksist of the Broadenlng Cholces for Older Peeple monogement charge together th legal fe25. Employ••$ rhe Chorlty hos no employees Trustees, remunerath)n and exp•nses During the ueor. no Trustees received any remunerotlon or other benefits12024- £NILJ Oung the yeor ended 51 Morch 2025. no Trustee expenses hove been Incurred Q024 - £NIL). Page11
W4gin Cottage Htsmes Notès to the tlnandal stotements For th* yèar ènded 31 March 2025 Tanglbl• flxed a5Sèts Freehold Flxtwes and property frttings Totul Cost or ¥oluatlon At l April 2024 Addllions 290. 9.404 40,592 300.095 40.392 At 31 March 2025 290. 49.796 340.487 At 1 April 2024 Chorge for the yeor 59,413 1907 9.404 6&817 1.009 5.916 At 51 Morch 2025 62.320 10.413 72.733 Net book volue At 31 Morch 2025 22&3n 39.583 267.754 At 31 Morch 2024 231.278 231,278 Page 12
ggln Cottoge Home$ Notes to the flnanclal siffldnents For tho year •nd•d 51 March 2025 Debtors 2025 20Z4 Arwunts tswed by 8roadenlng Chdces for Older People her debtor5 200.255 210,048 25 Prepoyrnents and ¢Kcrued Income Rent orreors 265 2.028 95 95 200.616 212,171 Credltors: Amounts falling du• wlthln on• u•ar 2025 2024 PreFX]Id rent Othercre(Itors ond occruols 4.175 1.665 1.334 io Page 13
Wbllgbn Cottoge Homes Not•5 to Ihe flnancEal stements Forthe uegr end*d 31 Morch 2025 12. Stut¢m¢nt of fvnds Stotemem af funds . current Yr Balance ot 1 Aprll 2024 ealonc• ot 31 Morch 2025 Incom• Expendttur• Unrestrirt•d fvnds Revenue serveS (Unrestricted funds) 289.926 49.588 (24486) 31t028 Endowm•nt fvnds rw5t fund (Endowment funds) 58,852 s(8s2 Ilestricted funds Restrlcted funds 92.650 92.650 Total of fvnds 441.428 49.586 r28.486) 462.550 atement ¢f funds. prbor y•ar Bolonce ai l Aprll 2Q23 Bulorhce Exp•ndltur• 31 Mgrch 2024 Income UnrestrKted funds Revenue reserves (Unresrricted funds) 258.481 51.497 (20.0521 289.926 Endtswment funds Trust fund (Enthwment funds) 58.852 58,852 Rewicted funds Restricted funds 92.650 92,650 Total of funds 409.983 51.497 {20.052) 441.428 Page 14
Wlgoin Cottage Hom•s Not•s to tho fingnclgl statements For the yoar OrKI 51 March 2025 15. AnalysL8 Qf not ussets b•tw••n fund8 Anolysl¥ of net Ossèts bètween fvnds- current uoar Unr•strlrt•d fvnds 2025 Regtrlctod endowment funds fund$ 2025 2025 Total funds 2025 Tonglble fe assets Currerrt ossets 116.252 91650 58.852 267.754 200,616 (5%40) 200,616 (5.840) Credltors due wtthin orE yeor Total 311,028 92.650 58,852 462.550 Anolysis of net o¥¥•ts b•tw••n fuThJs- prlor year (threstrlcted funds 2024 Rèstrreted Endowment fwds fwds 2024 2024 Total 2024 Towlbie fixed (J5sets Current assets 79.776 92.650 5&852 251.278 2111 212.In Credltors due within on6 yeor (2,021) (2,021) Total 289.926 92.650 5&852 441.428 A•lat•d partu tronso¢tlons At the bakjnce sheet dote, the Chorlty hos one Trustee who acts 05 dlrettor for Broodenlng Chth¢es lor Older People. a Charity thot ous os the monoglw ogent. The monooemert fee chorged In the year wc55 £d391 (2024 - £4086). Broodenlro Cholces for Older People pools Surplus funds th connected porties to eoslly fflanoge the Invesimern portfollo. Interest Is charged on the lthjns ol the group's depostt mte. DurSng the year. the Charlty received £4A70 (2024- £1,652) on deposlts held th Brorjdeniro Chdces lor Older People. At the boknnce sheet dLY(e. £200.253 (2024 - £210.048} wa5 due to the Chorlty from Br(Mxlenin9 Choices for Older PeotAe. None of the Trustees hC anu personal IntereM in any of the trttnsothons of the Chorfty durlng the yeor Page 15