THE SPALDING ALMSHOUSE CHARITY
CHARITY COMMISSION REGISTERED NO. 220077
STATEMENT OF Accoumrs
for the year ended
31 December 2025
Administered by
THE SPALDING TOWN HUSBANDS

THE SPALDING ALMSHOUSE CHARITY
CHARrrY INFORMATION
Ccpoptalive Trustees lappoinled under
the Scheme for five-year terms by the
Trustees)
Mr R. Hancox (Chairman)
Mr D.A.J. Gratton IVice£haim￿n>
Mrs D. Clay
Mrs P.G. Keeling M.B.E.D.L.
Mr C.R.M. Longstaff
Mrs B.K Ruysen
DT. A. Stone
Mr R. Goodliff
Mrs L. Van Egmond
Rev. R.T. Parker-McGee (Appointed 10 September 20251
Mr J.H.P. Lister (Resigned 4 March 20261
Nominative Trustees lapp(Nnted under
the Scheme by the South Holland
District Council for four-year te￿n$)
Cllr. E Sneath
M(s J.8. Vlhilboum
Administrator
Miss S. Tweddel
Property manager
Mr C.J. Penney
Registered Addfess
Roythomes Ltd
Enterprise Way
Pinchbeck
Spalding
Lincolnshire
PE113YR
Tel.. 07534 855519
Bankers
Lkjyds Bank Pl¢
Hall Place
Spalding
Lincolnshire
PE111SF
Auditor
J. Rowbottom
TC Group
14 London Road
Spalding
Lincolnshire
PE112TA
Page 1

THE SPALDING ALMSHOUSE CHARrrY
TRUSTEES REPORT
FOR THE YEAR ENDED 31 DECEMBER 2025
The Trustees present their report and ￿ount$ for the year ended 31 Decernber 2025.
Govemance and Management
The S¢heme- The Spalding Amshouse Charity is regulated by a stheme of the Charity
Commissioners of 13 August 1971 as varied from t1￿ to time., registered number 220077.
Trustees- The Charity is administered by Trustees kncvm as the Spalding Town Husbands.
Particulars of the Trustees and their methTrJ of appointment are set out on page 1, together with the
address of the Charity's registered office. On appointment, Trustees are provided with a delailed
information pack which covers all aspects of the Charity. its constitution, assets and day to day
management. The Trustees consider the information sufftient for the appointee to be in a position
to act in such capacity. The Trustees meet on a quarterly basis. and at other times if the need arises.
The Charity was managed on a day to day basis by the Clerk. the Deputy Ckrk and the
Adminislralof in consultalion, when ne￿Ssary. wtth the Chaimian. The management of the charity
changed from 1 January 2025. with the temiination of the exisling contract and with the appointment
of a new administrator and property manager. They will manage the charity on a day lo day basis in
consultation with the Chair and Vice<hair as appropriate. The Alms people will have ready access to
the property manager and the Administrator should the need arise.
Risk Management- The Trustees have assessed the major risks to wh￿h the Chanty is exposed, in
particular those related to the management of rts investments and finances. and are satisfied that the
policies and systems in place surr￿￿n￿ manage its exposure to those risks.
Related Paty- The Charity is conneded with the Spalding Rel￿f in Need Charty. whbch is also
administered by the Spalding Town Husbands under the Scheme.
Objectives and A¢tlvltles
Objects- The Trustees, objects are to provide almshouses for the benefft of alms peop￿.
Aims - The Truslees, aims are to maintain the Charty's almshouses to a hmjh standard and to
increase the stock of almshouses when resources permit.
Alms people- To be selected as such. almshouse people are required under the temis of the
Scheme to have been residing in the area of benefrt and to be poor persons or (in the case of not
less than eight almshouses) poor aged persons.
Area of Benefit- This is defined wthin the Scheme as the Districl of SoLrth Holland in the County of
Lincolnshire, with a preference for the area comprising the Urban District Council of Spalding as
constrtuted on 13 August 1971 and the Parishes of Cowbit, Deeping St. Nicholas. Pinchbeck and
Weston, in the County of Lincolnshire.
The Trustees consider that the objectives and actNities of the Charity are in accordance with the
Chanty Commission's general guidan￿ on public benefit.
Page 2

THE SPALDING ALIASHOUSE CHARITY
TRUSTEES REPORT {continued)
FOR THE YEAR ENDED 31 DECEMBER 2024
Summary of Main Achievements and Events
During the year, a number almshouse varanues occajrred. and new beneficiaries were appointed to
fill the vacancies.
During the year. the Trustees continued wtth the ongoing refufbishment of their properties to ensure
they provide up to dale facilities for the benef￿larIeS of the charity-
During the summer all aknshouses were inspected by the Truslees and reports prepared on any
outstanding issues.
Financial Review
The details of the financial transactions durrng the year are shovm in the Statement of Financial
ActNities. on page 8. whilst the Financial Postlion is shown on the BalancE Sheet on page 9. along
with Ihe necessary details in the notes on pages 10 to 21.
Restricted Fund - During Ihe year, the Charity has received no reSt￿￿ted funds (2024 - £0). The full
details of the Restricted Fund appear in note 10.
General Fund and Reserve Funds- The weekly maintenance contribulions from alms people and
the income from investments fomiing part of the Endowment Fund are credrted to a General Fund.
The General Fund is an unrestricted fund. the main purposes of which are to defray routine
maintenance expenses and to meet other costs incurred in the management of the almshouses (note
3).
In setting the weekty maintenance contributK)ns, the Trustees budget for the cost of maintenance of
the almshouses in accordance with recommendations made by the National Almshouses
Association. The recommendations a￿ for an amount to be induded for the cost of routine
maintenance and this is credtied to the General Fund. and for further amounls to be included for the
costs of extraordinary repairs and cyclical Maintenan￿ and these are transferred to two reserve
accounts. namety. an Extraordinary Repair Fund and a Cyclical Mainlenance Fund. The
Extraordinary Repair Fund and the Cydical maintenan￿ Fund are also unrestricted funds the main
purposes of which are explained in note 11. The full details of the three unrestricted funds are given
in such note.
During the year, maintenance and repair costs amounted to £262,052 {2024 - £188.050). of vknich
£60,529 met from the General Fund and £201.523 vras met from the Extraordinary Repair Fund.
During the year sunifThnt drainage repairs We￿ completed, with a totsl cost £125.622. which was
funded by Ihe Exlraordinary Repair Fund.
During the year. the Charity has received unrestricted funds of £451.413 (2024- £287.8521. After
expenditure, net incoming unrestricted funds amounted lo £136.110 (2024- £2,996). The level of
unrestricted funds at the year end amounted to £578.77412024 - £310.480). of which the
General Fund Tepresenled £608.119 {2024- £80,202). the Extraordinary Repair Fund represented
£103.254 {2024- £291,254) and the Cyclical Maintenance Fund represented defictt of £132.602
12024 - £60.976).
Endowment Fund- The level of the Endowment Fund at the year end amounted to £600,251 12024 -
£712,468). The full details of the Endo￿nt Fund appear in note 9.
Page 3

TRUSTEES REPORT (contlnuod)
FOR THE YEAR ENDED 31 DECEMBER 2024
Flnanclal Revlew (contlnuod)
Inv8strnents- InVeStr￿ of the Endc*hThent Fund a￿1 the Extrac￿thnary Repair Fund is under the
direct ¢4)ntrd of the Trustees. C(¥nmon Inv8Stmenl Funds are currentty the Tntstees. rTrf8rred
investrnent vehicl8 f￿ surplus cash n suth fvnds as th8y are spe￿fi￿llY designed fty charities and
therefore manag8 the rlsks lrt)erwrt in the invesknenl markets.
BY OROER OF THE TRUSTEES
Mr K Han¢ox
Chair

INDEPENDEpif AUDITOR'S REPORT
TO THE TRUSTEES OF
THE SPALDING ALMSHOUSE CHARrrY
Opinion
We have audited the financial statements of The Spalding Almshouse Chanty (the 'charity') for the
year ended 31 December 2025 which compTise the Slaternent of Financk?l Actrvities, the Balanr
Sheet, the Statement of Cash Flows and the related notes. including signrficant accounting
policies. The financial reporting framework that has been applied in their preparation is applicable
law and United Kingdom Accounting Slandards, including Financial Repo￿.ng Standard 102 The
Financial Reporting Standard ap￿ICable in the UK and Republic of Ireland {United Kingdom
Generalty Accepted Accounting Piactice).
In our opinion, the financial ststements..
- give a true and fair view of the stale of the charitys affairs as at 31 December 2025 and of its
incoming resources and application of resource5. for the year then ended.. and
- have been properly Prepared in accordance with United Kingdom Generalty Accepted Accounting
Practice,. and
- have been prepared in accordance wtth the requirements of the ChariiEs Act 2011.
Bas18 for Dplnlon
We conducted our audit in accordance with Intemational Standards on Audiling (UK) IISAS (UK))
and applicable law. Our responsibilities under those standards are further described in the Auditsrfs
rèsponsibilities for the audit of the financial statements section of our report. We are independent of
the charity in accordance with the ethical requirements that are relevant to our audit of the financial
slalements in Ihe UK. including the FRC'S Ethi(al Slandard, and we have fuffilled our other ethical
responsibilities in accordance wrth these requirements. We believe that the audit evidence we have
oblained is sufftient and appropriate to provtde a basis for our opinion.
Conclusions relating to going concern
In auditing the financial statements. we have concluded that the Trustees, use of the going concem
basis of accounting in the preparalion of the finawal statements is appropriate.
Based on the wort we have perfomied, we have not identified any material uncertainties relating to
events or conditions that, indivKlualW or collectivety. may cast signrficanl doubt on the chanty's
ability lo continue as a going concem for a pericMI of at least Iwelve months from vthen the financial
statements are authorised for issue.
Our responsibiif(ies and Ihe ￿spOnSibl11t1eS of the Trustees with respect to going concem are
described in the relevant sections of this report.
Other inforniation
The other infornat￿n comprises the infomiation #iduded in the annual report, other than the
financial statements and OUT audrtorfs report thereon. The Trustee5 are responsible for the other
information. Our opinion on Ihe finanoal slatements does not cover the other information and we do
not express any form of assurance conclusion thereon. In connection wth our audit of Ihe financial
statements, our responsibilty is to read the other infornation and. in doing so. consider whether the
other information is materially inconsistent with the financial stalements or our knowledge oblained
in the course of the audr(, OT OtheThMse appears to be materialty misslated. If we identrfy such
material inconsistencies or apparent malerial misstatemenls. we aTe required lo detemiine whether
this gives rise to a material misstatement in the financial statements themselves. If. based on the
work we have performed. we conclude that Ihere is a material misstatement of this other
information, we are required to report that fact.
Page S

We have nothing to report in this regard.
Matters on whlch we are requlred to report by ex¢eption
We have nothing to report in resFeCt of the following matters in reLatTron to vthith the Charrties
(Accounts and ReFQrts) Regulations 2008 require us to report to you rf, in our opIn￿n..
- the information given in the finan￿al statements is inconsistenGy in any material respect with the
Trustees Report..
- sufficient accounting records have not been kept: or
- the finanaal statements are not in agreement wrth the accounting records.. or
- we have not received all the infomialion and explan*ions we require for oui audit.
Responslbllltles of Trustees
As explained more fully in the ststement of Truslees, responsibilitr'es, the Trustees are responsible
for the preparation of the financial statements and for being satisfied that they give a Iwe and fair
view. and for such intemal control as the Trustees determine is necessary to enable the
preParat￿n of finanaal statements that are free from material misstalement, whether due to
fraud or error.
In preparing the financial statements, the Truslees are ￿5￿nSible for assessing the chanty's
ability to continue as a going concem. disclosing, as applicable, matters relaled to going con¢em
and using the going concern basis of accounts'ng un￿sS the Twstees either intend to I￿uldate the
charitable company or to cease operalions, or have no realist￿ aliematNe but to do so.
Audltorfs respon$lblllties for the audit of the financial statements
We have been appointed as audrtor under section 144 of the Chartties Act 2011 and report in
accordance wrth regulatbons made under the Act and relevant regulats.ons made or having effect
thereunder.
Our objectives are to obtain reasonable assurance about whether the financial statements as a
whole are free from matenal misstatement, whether due lo fraud or eTTor, and to issue an audrtols
report that Includes our opinion. Reasonable assurance is a high level of assuran￿ but is not a
guarantee that an audit conducted in accordance wth ISA5 (UK} will a￿yS detect a material
misslalement when tt exists. Misstatements can anse from fraud or error and are considered
material rf, individualty or in the aggregate. they could reasonabty be expected lo Influen￿ the
economic decisions of users taken on the basis ot these fi'nanc￿1 slalements.
Irregularities, induding fraud. are inStan￿S of non-Compl￿nCe with laws and regulalions. The
extent to wh￿h our procedures are capable of delects'ng irregulanties. including fraud is detailed
below.
Extent lo which the audlt was con$ldered ¢apable of detecting irregularities. including fraud
The objectives of our audrt. in respec* of fraud. are: to Klentsfy and assess the risks of malerial
misstatement of the financial statements due to fraud- lo obtain Suff￿lent appropriate audit
evidence regarding assessed risks of material misslatement due to fraud, through designing and
implementing appropriate responses.. and to respond approprialely to fraud or suspected fraud
identified during the audil. however, the primary responsibility for the prevention and deteclion of .
fraud rests vthh those charged g0Veman￿ of the entity and bts management.
Our approach was as follows:
. We identified areas of laws and regulats.ons that could reasonabty be expected lo have a material
effecl on the financtal statements from our general commercial and sector experience, and
through discussion wrth the Truslees and olher managemenl {as required by audrting standards}.
and discussed with the TTuslees and other management the policies and procedures regarding
compliance with laws and regulations..
. We considered the legal and regulatory frameworks directly applicable lo the financial statements
reporting framework (FRS 102) and the relevant tax compliance regulations in the UK..
We considered the nature of the industry. the control environment and business perfomiance,
including the key drivers for management's remuneration..
. We communicated identrfied laws and regulations throughout our team and ￿Mained alert to
any indications of non-compliance Ihr(KJghout the audit:
Pa9e 6

. We considered the procedures and controls that the chanty has established to address risks
identified, or that otherwise Prevent. deter and detect fraud. and how senior management monitors
those programmes and controls.
Based on this understanding we designed our audit procedures to identrfy non-compliance with
such laws and regulatK*ns. Where the risk was considered to be higher, we perfomied audit
procedures to address each 1denlff￿d fraud risk. These prctedures included.. testing manual
joumals., reviewing the financial statement dischjsures and testing to supporting documentation.,
performing ana￿lCa1 procedures.. and enquiring of management, and were designed lo provide
reasonable assurance Ihal the financial stalements were free from fraud or error.
Owtng to the inherent limitatt'ons of an audit, there ts an unavoidable risk that we may not have
detected some material misstatements in the financial statements, even though we have properly
planned and perfomied our audit in accordance with audrting standards. For example, the further
removed non-compliance with laws and regulations (ir￿gU1arItle5I is from the events and
transactions Teflected in the financial statements. the less likely the inherentty limited procedures
required by auditing standards would idenlfy il. The risk is also greater regarding irregularities
occurring due to fraud rather than error. as fraud involves intentional concealment, forgery,
collusion. omission or m1srepresentat￿n. We are not responsible for preventing non-compliance
and cannot be expected to detecl nori<omplk?nce with all and regulations.
A further description of our responsibilities is aval￿ble on the Financial Reporting Council's
web51te at.. https:114YMH.frc.org.uklauditorsresponsibilities. This description forms part of our
audito¢s report
Usè of our report
This report is made solely to the charity's Trustees, as a tx)dy. in accordance with Part 4 of the
Charities (Accounls and Reports) RegUlatb￿lS 2008. Our audit work has been undertaken so that
we might stste to the Chanty's Trustees those matters we are required to state lo them in an
auditor's report and for no other Purpose. To the fullest extent pem)itted by law, we do not accept
or assume ￿spOnSIbl1ty to anyone olher than the charity and the charty's Trustees as a body, for
our audit Work, for this report. OT for the Opini¢￿S we have fomied.,
Josh Rowbottom (Senior Statutory Auditor)
for and on behalf of TC Group
Chartered A¢¢ountsnts
ststutory Auditor
14 London Road
Spalding
Lincolnshire
PE112TA
TC Group is eligible for appointment as auditor of the charity by virtue of its eligibilty for
appointment as audrtor of a company under sectM)n 1212 of the Companies Act 2008.
Page 7

THE SPALDING ALMSHOUSE CHARrrY
STATEMENT OF FINANCIAL ACTMTIES
FOR THE YEAR ENDED 31 DECEMBER 2025
Unrestricted Endowment
Funds
Fund
2025
Totsl
2024
Total
INCOME
Donations and le9acies
Garage renl
Income from investments
Wayleaves
175.913
700
28.978
175.913
7(YJ
28,978
32.657
205.596
205,596
33.497
Charitable activities
Ajmshouse management
245.817
451.413
245,817
451,413
254,355
287,852
TOTAL INCOME
EXPENDITURE
Charitsblg activities
Almshouse management
Direct almshouse costs
Support costs
Cyclical maintenance
Extraordinary repairs
other expenditure
Accountancy fees
Bank eharges
TOTAL EXPENDITURE
119.542
66,521
119.542
66.521
97,221
61.873
89.219
40.747
11
201.523
201,523
2.650
2,650
90
390,326
2,650
3￿.326
291.710
Net surplus l (defi¢it) fr>r the
Profit on property disposal
Net gains l {losses} on
investments
61,087
61.087
(3,858)
58.395
58,395
14.070
16.628
(2.558}
12,294
NET SURPLUS I IDEFlCtD
136.110
(2.558)
133,552
8,436
Transfers with Restricted Fund 11
5.600
NET MOVEMENT IN FUNDS
127 952
Reconciliation of funds:
At 1 January
2025
At 31 December
2025
Movemgnt
Transfern
Endownenl Fund
Restricted Fund
Unrestricted funds
712,468
3.144.520
310.480
4 167468
(2,558)
(109,659)
(22.5251
132,184
600,251
3,121.995
578,774
4 301 020
10
11
136.110
133552
rhe notes on pages 10 to 21 fomi a part of these accounts
Page 8

BALANCE SHEET
AT 31 OECEMBER 2025
2025
2024
FIXED ASSErs
mshouses
Investments
3.365.839
574.353
3.940.192
3,395.339
554,145
3,949.484
CURRENT A8SErs
short.tem dep)*ts
366.140
243,393
2,078
Prepayments
Cash at bank
12.359
397.988
8.766
263.837
CURRENT UABILMES
Amiyjnts faillry due *ithin one
NEf CURRENT ASSETS
TOT￿ PSSETS LES8 CURRENT
LIABiullE8
3￿}.3￿)
248.921
4.330.582
4,198.405
CREDrroRS
Amounts fallirKJ C￿8 after one
29,562
30.937
TOTAL A8SErs
4,301.020
4,167,468
CAprrAL FUNDS
End￿Inent FurMI
Restrlcled Fund
6CQ.251
3 121.995
3,722.246
712,468
10
3.856,988
GENERAL A14D RESERVE FUNDS
Unrestrictsd fuThts
11
$78,774
310,480
4,301,020
4,167,468
The financial stslemwts ￿ pages 8 to 21 aFVtr4ed ty the TnL5teos on
b8hatt by.
0306...?026..
aThJ Signed
Ilr
TnL8tee
Paps 10 kn 21 ftxm a xcounts
P8g8 9

THE SPALDING ALMSHOUSE CHARITY
NOTES TO THE ACCOUIITS
FOR THE YEAR EMDED 31 DECEMBER 2024
The abbreviations "E.R.F." and"C.M.F." as used in these notes fflean ￿Spective7y the Extraordinary
Repair Fund and the CyclKal Maintenance Fun(J particulars of %thich are given in note 11.
l. A¢countlng Polici•s
The signrfKant accounting policies applied in the preparation of thèsè financial statements are sel out
below. These policies have been ¢onsistènty applied to all years presented Un￿55 other*ise staled.
lal Ba$1$ of pvèparatlon of financlal ststements.
The charity constitules a public benefft enlty as defined by FRS 102. The finanryal statèments have
been Prepared in accordance wth Accounting and Reporbng by Charitses: Stalemenl of
Recommended Piacb"¢e appli¢able to ¢harilies preparing their accounts in accordance wth the
Financial Reporting Standard applicable in the UK and Republ￿ of Irelan(J issued in Odober 2019.
Ihe Financsal Reporting Standard applicable in the Urtit¢d ￿ngdoM and Reputlic of Ireland IFRS
102). the Charrties Act 2011 and UK Generalfv AcceDted Accountino Practice.
The financial slalements a￿ p￿pared on a going concem basis under the historical rJ)st
convention. mc4Jfi¥d to indude certain items al fair ¥ahJe. The financial statements are presented in
sterfing wh¢ch is the functional ujrrency of the Chanty.
Ibl Fund*
Unrestricteil fvnd$ are available for use at the discretion ol the Tru51ees in fvrtherance of the
general objectives of the Charity and wthich have not been des￿nated for other purposes.
The Restricted Fund rep￿sents those assets have been designated for a spec4fic purpose
(see note 101.
The Endowment Fund represents those assets must be held pern￿nentty by the Charity (see
note 91.
The Endowment Fund and the Restricted Fund are represented principally by investments and
almshouses. Any capf(al gains or h)sse$ 8rising on the investments or almshouse5 fall to be Irealed
as part of the lund of which they fomi part. Endowment Fund income can be used in further8n¢e of
the genetal objectives of the Charity and is incbjded a5 unrestr￿ted income.
Icl Income r￿QgnItion
All incoming resources we tncknled in the Statement of Finanaal Activities (SOFA) when the Charity
islègalfy ent'lled to the income aftef any performance conditions have been mel. Ihe amount ¢an be
measured reliabty and it is probable that the incorne will be received.
Investment income is racognised in the acccwjnts when the amount can be measured reliably and
the Charitys right to receNe payment is established.
Legacies are recognised in the financial statements at the earfier of rècèipt or communication from
the personal representabve5 of the estslè admsing that a payn￿nI of the legary V•ill be made, or that
property beqveathed ￿11 bè transferred. Where a kgacy has condits'ons associated the
payment then Ihe bequest is onty recognised vthen all conditi.ons have been meL
Idl Weekly Maintenance Contributions
Weekly maintenance ¢onlnbub"on$ from almspeople inc￿de the cost of T(￿t￿e mainlenano of the
almshouses belonging to the Charsty and the amounts translerred lo the E.R.F. and the C.M.F., all of
which are delermined in accordance wrth guidance and regulatws issued by the National
Alm5hou5e5 A5so¢ialion.
(•) Exp•nditur• rncognition
Expenditure is accounted for gfOS5 on an accntsls basis and ha$ been ClasSrf￿d under headings
that aggregate all cos15 related lo the category.
Charitable actNitie5 experKliture indude Jll ￿$0￿ree$ applied by the Charity in undertakn'ng ils
Chantsble obje¢lives as Opkwd to support costs.
Page 10

ThE SPALDING ALMSHOUSE C•IARirY
MOTES TO THE ACcOUP￿s (Continued)
FOR THE YEAR ENDED 310ECEMBER 2025
l. ACCOUn￿ng Pollcl•s Iconllnu￿l
lfj Alm$lwu$*s
The almshouses belorvjing to the Charity have been induded at the valuations detailed in note 4.
The almshouses arè functional assets of the Charrty in the furtherance of its objects. but are not
depreciated on the grounds provision is made wrthin the E.R.F. and the C.M.F. lo ensure that the
residual value is not materialty lower than the ¢arrying value.
Igl Debtors and creditorn re¢eivablelpayable T*lthin one y•ar
Debtors and uedilors with no stated intèrèst rate and receivable or payable Vlithin one year are
recorded at Iransaction price. Any kjsses arising from impairnient are recognised in expendrture.
Ihl Investments
Quoted investmenls are shown al their fair value at the balan¢e Sheet date Isee note 5). Any
movement in IheiT fair value 15 re¢ogni5ed in the SOFA.
11} R•sourc•s •xp•nd•d
Charitable acliv7ties indude all resources by the Charrty in undertaking its charitable
objective5 as opposed lo goveman¢e costs. They are the resources expendèd in managing the
{h}Golng con￿rn
The financial statements have been prepared on a going concem basis as the Trustees believe that
no material uncertainties exist. The Trustees have consRlered the level of funds held and the
expected level of income and expendrture foi 12 rnonths from authoriyn9 thesè financial statèmènts,
which is Suffiaent with the I￿61 of reserves of the Chanty to be abk to continue as a going concem.
Page11

THE SPALDING ALIISHOUSE CHARITY
MOTES TO THE ACCOUNTS Icontinuedl
FOR THE YEAR ENDED 310ECEMBER 2025
2. In¢om* from Inv•stm•nts
UMestri¢t
Funds
202S
Total
2024
Total
Endowrnent Fund
81ack Rock Gharrties UK Bond
Fund A- Inc
M&G Charity Mulli Asset Fund-
Inc
C.O.l.F. Charities Investment
Fund - Inc
C.O.l.F. Oeposbt A￿Unt
4.268
3.480
3.317
9,396
9,396
6.921
3.938
3,938
5,480
21.082
21.082
18,258
Gwwral Fund
C.O.l.F. Dèposit Account
E.R.F.
M&G Charity Multi Asset Fund-
Acc
Black Rock Chari¢ies UK &)nd
Fund A-ACC
M&G Charity Multi A55et Fund-
1.425
1.425
1.983
1.351
1.806
2,265
C.O.l.F. Deposit ACr￿unt
2.153
2,153
2,997
3.599
8,419
C.M.F.
C.O.l.F. deposrt account
2,872
2,872
3,997
Total In¥estm•nl In¢om•
28,978
28,978
32.657
Page 12

THE SPALDING ALMSHOUSE CHARITY
MOTES TO THE ACCOUNTS l¢ontinu•dl
FOR THE YEAR ENDED 31 DECEMBER 2025
3. Almshouse ljlanagement Account
2025
2024
WEEKLY IAAINTEIIANCE COIURIBUTIONS
245,817
254,355
EXPENDITURE
Dlr•ct almshouse costs
Routine maintenance
Talephone and Lrfeline semce
Water and sewerage charges
Empty propèrty costs
60,529
27,C67
26,086
14.340
24,335
462
119.542
97,221
Support costs
Clerks, remuneration and expgnses
Admini$lralor co$1$
Professional fees
Sub$¢riplions
National Almshouses Association
Comprèhensivè insurance
Advertising and website
Sundry èxpènses
Social activil￿S
23.642
23,507
6.767
2.766
1.1
7.398
594
245
412
39,822
6.335
5.659
420
7,C4)0
167
35
2.435
66.521
61,873
Other expenditur•
Bank charges
Accountants fees
2.650
2,740
2.650
188,803
161.744
Excem ol in¢omt over exp•ndityr• b•foY* pro¥blon
for cyclical maint•nance and extraordinary vepain5 (see
note111
57,014
92.611
Thè weekly maintenance contributs'ons are subject to assessment under the applicable legislation by
the relevant local govemment officer a view to ensuiing they do not exceed what would be fair
Tents for the almshouses.
During the year. no Temunerab"on w paid to any of th* Tmstee$.
Related party tran￿¢tion
The Spakling Relief in Need ChaTty is under the o)ntrol of a common Board of Trustaas.
Page 13

THE SPALDING ALMSHOUSE CHARITY
NOTES TO THE ACCOUNTS (continued)
FOR THE YEAR ENDED 31 DECEMBER 2025
4. Flxed Assets - Almshouses
2025 2024
Units
Unils
2025
2024
Restricted Fund
Kingston Cottage Homes- 1907
7 South Parade. Spalding
Masham Homes - 1961
2-8 Green Lane. Spalding
Mary Gage Homes- 2010
2a & 2b Green Lane. Spalding
AIKe Wilson Homes
169 -179 Winsover Road. Spalding - 1980
181 & 183 Winsover Road. Spalding - 2011
Adrian Gall Homes- 1968
1 & 3 Clay Lake and 2248 Bowditch Road.
Spalding
Lucille Van Geest Homes- 1994
2 & 4 Hoekman Way. Spalding
2-24 Hoekman Drive. Spalding
8a Hoekman Drive - 2011
29,500
126,000
126,000
192.891
192.891
258,409
156.225
258,409
156,225
17
17
550,937
550,937
69,000
408,000
83,026
69,000
408,000
83,026
12
12
Gamtyn Almshouses- 2008
59-77 Clover Way, Spalding
John Van Geest Homes- 2015
Rosemary Cbse & Larkspur Way. Spalding
18 Brownbw Crescent. Pinchbeck - 2013
10
10
623.475
623.475
10
10
678,579
678,579
78,297
78,297
68 3.224.839 3.254.339
67
Endowment Fund
Edwin Datton Homes- 1938
1 & 3 Wesl Parade. Spalding
TurnerAlmshouses - 1962
37 & 39 Knight Street. Pinchbeck
66,000
66,000
75,000
75.000
141,000
141,000
72 3,365,839 3,395,339
Total Book Value
71
A Properlies are recorded at valuation as prepared by Messrs Munton & Russell in January
1995 in accordance with guide lines issued by the Royal Institute of Chartered Surveyors.
A The Bowdrtch Road properties are induded at the valuation as above ￿u$ the cost of 32A
Bowditch Road when 32 Bowdrtch Road was converted during 2021.
Pioperties are valued at cost.
C Properties V￿re valued. as above in A. in January 1995 at a value of £201.000. The value
was increased by the cost of refurbishment during 2011 to two of the original units.
D Properties a￿ recorded at valuation as prepared by Messrs Munton & Russell in May 1998
in accordance wth guide lines issued by the Royal Institute of Chartered SuNeyors.
Page 14

THE SPALDING ALMSHOUSE CHARITY
NOTES TO THE ACCOUNTS (contlnued)
FOR THE YEAR ENDED 31 DECEMBER 2025
4. Flxed Assets - Almshouses (continued)
The Edwin Damon Homes and Tumer Almshouses v￿re fonnerty part of the endowment capital of
charities that merged with the Spalding Almshouse Charity. Accordingty they are Ireated as part
of the Endowment Fund.
The Trustees estimate that the approximate market value of the almshouse stock would be in the
region of £6.75 Mill￿n. These types of propety are unusual in nature and do not often come onto
the open market and as a resuft definitive valuations are dtfficull and often subjective. The
Trustees consider Ihal the cost of obtaining an up to date professional valuation would outweigh
any benefit.
5. Fixed Assets - Investrnents
Units hekl Market value Acquisitionsl Movement Market value
at 31112125
at 01101r25 (Disposals)
in value
at 31112125
Endowment Fund
Black Rock Charilies
UK Bond Fund A- Inc
M&G Charity Mulb.
Asset Fund- Inc
C.O.l.F. Charities
Investment Fund - Inc
42,326.437
60.010
922
60,932
81.889.112
76.018
8,672
84,690
12.510.260
253.874
{12,152)
241,722
E.R.F.
M&G Charty MU￿1
Asset Fund- Acc
310.000
37,532
1,607
4.549
43,688
M&G Charity Mulb.
Asset Fund- Acc
Black Rock Charities
Growth & Incorne
Fund Class A- A
521.535
63.143
2.705
7,651
73,499
48,971.596
63.568
1.826
4.428
69,822
Balance at 31 December 2025
554.145
6.138
14,070
574,353
Balance at 31 December 2024
536.429
5.422
12,294
554,145
Page 15

THE SPALDING ALMSHOUSE CHARITY
NOTES TO THE ACCOUNTS (continued)
FOR THE YEAR ENDED 31 DECEMBER 2025
6. Short-Temi Deposlts
2025
2024
C.O.l.F. deslgnatsd deposits:
Endowment Fund
General Fund
E.R.F.
C.M.F.
104,059
5,340
59.496
74.498
243,393
366.140
366.140
7. Creditors Amounts falllng due wlthln one year
2025
2024
Mortgage debt (see note 7 & 8)
Activity creditors
Accruals and deferred income
1,375
2.934
3.289
7.598
1,375
9,453
4,088
14.916
8. Credltors Amounts falllng due after one year
2.025
2024
Morlgage debt
29.562
30,937
The mortgage referred to in this note {and in notes 7 and 10> is in respect of consideration
monies left outstsnding by South Holland Distnct Council for the site purchased from the Council
on which the Mary Gage Homes now stand. The mortgage is inlerest free, and is being repaid
over 40 years by half yeaty instalments of £687.50.
Page 16

THE SPALDING ALPASHOUSE CHARITY
NOTES TO THE AccouKfs (continued)
FOR THE YEAR ENDED 31 DECEMBER 2026
9. Endowment Fund
The endowment caprtal includes the E(trwin Dafton Homes. Tumer Almshouses and investments
together with Ihe loan capital described below.
The fund represents donated monies and assels which are held on trust to provide expendab
income for the general Purposes of the Chanty, this income is credited to the General Fund.
The endowment capital is held as folk)ws:_
Market
value
01101125
Market
value
31112125
Movement
in funds
Change
in value
Almshouses Isee note 4)
Loan capltsl
Investments (see note 5)
C.O.l.F. deposlt account lsee
note 61
Inter fund balances
Due from Restncled Fund
141.000
74,238
389,902
141,000
68.638
387.344
{5.600)
(2.5581
104,059
(104.059)
3,269
712.468
3.269
600,251
Balance at 31 December 2025
109.659
2,558
Balance at 31 December 2024
707,028
5,440
712,468
Loan capltal represents transferred capilal monies used to assist wrth the cost of constructing the
GaM￿n Almshouses (part of the Restricled Fund). and is being repaid over 30 years at an annual
rate of £5,600.00.
Page 17

THE SPALDING ALMSHOUSE CHARITY
NOTES TO THE ACCOUNTS (continued
FOR THE YEAR ENDED 31 DECEMBER 2025
10. Restrlcted Fund
The Restricted Fund comprises donated monies held on trust to be appl￿ for the provision of
almshouses and further funds althated for suth purpose by the Trustees from General and
Reserve Funds.
The Restricted Fund capital is held as folknYs:_
Balance
Payments
Balance
at 01101125 and transfers at 31112125
Almshouses (see note 4)
Loans from endowment capltal
{see note 9)
3,254,339
(29,500)
5.600
3,224.839
{68.638)
{74.238)
Short temi balances wlth other funds
Due to Endowment Fund (see note 9)
(3.269)
(3,269)
Mary Gage Homes:.
Mortgage (see note 8)
Balance at 31 December 2025
(32,312)
3 144 520
1.375
(30,937)
3 121 995
Balance at 31 December 2024
3.137.482
7.038
3,144,520
Page 18

THE SPALDING ALMSHOUSE CHARITY
NOTES TO THE ACCOUNTS {¢ontinued)
FOR THE YEAR ENDED 31 DECEMBER 2025
11. General and Reserve Funds
General and Reserve Funds movernents
2025
Total
2024
Total
E.R.F.
C.M.F.
General
Balance at 1 January
2025
Almshouse
Management Account
(see note 3)
Income from
inveslmenls (see note
2)
291,254
(60.976)
80.202
310,480
314,522
57,014
57.014
92.611
3.599
2.872
22,507
28,978
32,657
Other income
Extraordinary and
cydical maintenance
Profrt on disposal of
South Parade
Change in value of
investrnenls (see note
5}
Transfers
Balance at 31
December 202S
176,618
176.618
(201.523)
(201,523>
(129,966)
58.395
58,395
16,628
16,628
6,854
(65.096)
(74.498)
271,778
132.184
{7,038)
103.257
(132.602)
608.119
578,774
310,480
The transfer of £5,600 Telate to a loan taken out by the Restricted Fund from the Endowment
Fund. As the loaned funds have all been used by the Restricted Fund. the transfers to Reslricled
Funds are needed in order to make the loan repayments.
The remaining transfers are Tegarding the sale of 7 Soulh Parade profrts on disposal which have
been transferred to the general fund along with the cb5ure of three COIF designated deposit
accounts, which have been transferred into one general COIF account (see note 6).
Page 19

THE SPALDING ALMSHOUSE CHARITY
NOTES TO THE ACCOUNTS (continued)
FOR THE YEAR ENDED 31 DECEMBER 2025
11. General and Reserve Funds
Made up as follows:
2025
Total
2024
Total
E.R.F.
C.M.F.
General
Investments (see note
5)
Short-Terrn Deposits
Cash at bank
Debtors
Prepayments
Accrued income
Creditors
Balances between
funds
Balan¢e at 31
December 2025
187.009
187.009
164,243
366,140
12,359
366,140
12,359
139,334
8,786
2.078
9,600
9.600
9,889
(6.223)
9,600
9.889
(6.223)
(13,541)
(83.752)
(132,602)
216,354
103.257
(132.602)
608.119
578,774
310,480
12. Control
The Charrty is controlled by the Trustees as a body. No individual Truslee has any Control over
the Charity.
13. Legacles and Bequests
The Trustees were made aware in previous years that lrfe interest trusts had been established by
the Will of the late Handley Tony Stephenson who died in 2004 and that such trusts names the
Charity as the beneficiary of the trust fund on the death of the lrfe tenant.
The administration of the Estate has now been completed and a donation and tegacy of £165.000
wa5 r￿1Ved on 28 February 2025, wilh a further £9.889 received on 16 February 2026 which
has been accured in the 2025 financial statements.
Page 20

THE SPALDING ALMSHOUSE CHARITY
NOTES TO THE ACCOUNTS (continued)
FOR THE YEAR ENDED 31 DECEMBER 2025
14. Statement of Financial Activities - Comparatives
Unrestricled Endowment
Fund
Fund
2024
Total
INCOME
Voluntsry Income
Garage rent
Income from investments
32.657
33.497
33,497
Charttable actlvltles
Almshouse management
254,355
287,852
254.355
287,852
TOTAL INCOME
EXPENDITURE
Charitsble activities
Almshouse management
Direct almshouse costs
Support costs
Cyclical maintenance
Extraordinary repairs
Other expenditure
TOTAL EXPENDITURE
97.221
61,873
89.219
40,747
2.650
291710
97,221
61.873
89.219
40,747
2,650
291.710
Net gains on investments
NET (DEFICIT) I SURPLUS
6,854
2,996
5,440
12.294
8,436
Realised gains on inveslmenl assets
Transfers between funds
{7.038)
{7,038)
NET MOVEMENT IN FUNDS
Page21