LOUISA COThAGES CHARITY TRUST ANNUAL REPORT AND FINANCIAL5TATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025 REGISTERED CHARITY NUfvIBEA 1*0078
LOUISA COTTAGES CHARITY TRUST CONTENTS PAGE L•8•1 •nd Admlnlstratlve Report of the Trustee5 34 Independent emamlnerfs report Siatement of Flnanclal A¢tl¥ltles 8•lance Sheet Notes to the Accounts 8-11
LOUISA COTTAGES CHARITY TRUST LEGAL AND ADMINISTRATIVE DETAILS Charlty name Loulsa Cottages Charlty Trust Chorlty number 220078 Reslstered offlce Estate Office Queen Street Waddesdon Aylesbury Bucklnghamshlre HP180JW Trustees The Honourable E Freeman-Attwood SJP Trust Corporation Llmited Independ•nt Ex4mln•r Martln and Company Two Brewers House 50 North Street Thame Oxfordshlre OX9 3BH Bankers Natwest Pl¢ Hlgh Street Trln8 HP23 SAP
LOUISA COTTAGES CHARITY TRUST REPORT OF THE TRUSTEES The trustees present their annual report and the financial statement5 for ihe year ended 31 December 2025. The financial statements have been prepared in accordance with the accountinB policies set out on pa8es 8 and comply wlth the Charity'5 Articles of Associatlon and appllcable law. Structure, Governance and Managemént Loulsa Cottages Charlty Trust (The Charltyl Is a registered charlty, number 220078. The Charity was reglstered on 3 July 1963 and is governed by its governing document The Will of Emma Louisa, Lady Rothschild, The Charity is a Registered SocSal Landlord, re8lStered number A1892 and 15 a member of the National A$50clatlon of Almshouses. The activlties of the charlty are managed by its trustees. ObSects and a¢tlvltles The Charlty manages the elBht Almshouse5 at Trin8, and applies Income for repairs for the beneflt of the Almspeople. Publlc beneflt The Irustees have paid due regard to the guidance issued by the Charlty Commi5slon on the subject of public benefit and conslder that thelr activltle5, alms and strate8le5 are for the public beneflt. Achle¥ements and perfomiance The charlly has conlSnued to meet Its objective5 In maintainSng and mana8ing the properties. It reported a deficit before 8alns or losses on Investment5 of £4,288 for the year12024: 5UTpIu5 of £17,676). At 31" December 2025 the charity had total funds amounting to £156,672 of whlch £4,194 were restricted in nature. No chan8es in tenancy have taken place during the perlod. Reserves pollcy The trustees, policy 15 to hold reserves equivalent to six months runnin8 COSt5 which has been achieved. In order to maintaln this level of reserve5, where possible the Trustee5' pollcy on all major repairs Is to seek further fundln8 from grants or donatlons. The Tru5tee5 have secured future fundSng of £10,000 per annum from the Rothschild Foundation to contrlbute towards property maintenance costs.
LOUISA COTTAGES CHARITY TRUST Investment pollry The charity has no lon8 lerm Investments. It retains any surplu5 cash en deposit tv meet any unforeseen repairs to the Almshouses. REPORT OF THE TFIUSTEES Icontlnuedl Rlsk Management The trusteÈs are responslble for estèbllshlng and monltoring internal control systems within the charSty. The major rlsk which may impact the activitles of the charlty have been rcviewed durinE thp vear and the trustees arÈ satisfied that the system of intemal contmls ¢urrently in place is adequate. whilst recD6nl%in8 that they are designed to manage rather thah ellmlnate risk. Internal controls are revlewed on an ongoing basls Bs part of the day-to-day risk managemènt procoss within thc charity. Plans for futuie peilods The charlty will centinue to manage the Almshouses. ststemont of Trustees, Responslbllltles The trustees are rèsponsible for preparlng the Trustees, Rpport and the flnancial statements In accordance with applicable law and United Klngdam A¢¢ountlng Standards Iunlted KlnRdom Generallv Accepted Accounting Practlcel. The Ch3rltles Act 2011 requlres the trustees lo prepare fSnaiiclèl statements for each flnanclal yeai wliicl) Kive a true and fair view of the stale of affairs of the chorlty and of the incomlng resources and ppllcalion of resources, of the £harlly for that year. In preparing these statements, the trusteos are requlred to., select sultable accountlng pollcles and then apply them conslstently,. observe the methods Jttd prlnclples lil the Charltles, SORP,, make judgements and estimates that are reasonable and prudent; State whether applicable UK Accountin¥ Sldndards have been lollowed, suble¢t to any malerlal departures dlsclosed and eiplaSned In the financlal statements,, piepare the finantlèl 5tAtement5 on the going concern basls unless it is inapproprlate ta presume that the charStable company wlll continue In operatlgn. The trustees are re5ponslble for keeplng accountlng record5 that disclose with reasonable accuracy at any tlme the financial p051tion of the Charitv and pnable them tll nsUre that the financial statements ¢ornply with the Charities Act 2011. The Trustees are also re5PDn5ible for Safeguarding the assets of the Charlty and hence for takin8 rea59nable step5 for the prevention and detection of fraud and other iryegularities. by the Trustees on .., lo..iÉ............. and signed on their behall bv.. Anna Au5 Trustee Ion behalf ol SJP Trust Corporatlonl
LOUISA COTTAGES CHARITY TRUST INDEPENDENT EXAMINER'S REPORTTO THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2025 I report to the trustees on my examination of the financlal statements of Louisa Cottages Charity Trust (The Charity) for the year ended 31 December 2025. Respertlve responslbllltles of trustees and emamlner As thè Trustees of the charity you are respun51ble for the preparation of the flnanclal statements in accordance with the requlrements of the Charities Act 2011 (the 2011 Act). I report in respect of my examlnatlon of the charlty's flnancial Statements carrled out Under section 145 of the 2011 Aet. In carrying out my examination I have followed all the appllcable Oirections given by the Charity Commission under sectlon 1451511bl of the 2011 Act. 8asls of Independent examlnerfs report Your attention is drawn to the fact that the charlty has prepared financlal statements in accordance with Accountlng and Reportln8 by Charities preparin8 their accoun15 in accordance with the Flnanclal ReportlnB Standard applicable in the UK and Republic of Ireland IFRS 1021 in preference to the Accountln8 and Reportin8 by Charltie5.' Statement of Recommended Practice1s5ued on l April 2005 which is referred lo In the extant regulatlons but has now been wlthdrawn. l understand that thls ha5 been done In order for financial statements to provide a true and falr vSew In accordance with Generally Accepted Accounting Practice effective for reporting periods beginnin8 on or after l January 2015. Independent examiner'5 Statement I have completed my examlnatlon. I conflrm that no matters have come to my attention in connection with the exarninatlon 8ivlnB me cause to believe that In any material respect.. Accounting records were not kept in respect ol the charlty as required by section 130 of the 2011 Act,. or The financial statements do not accord with those records,. or The flnancial statements do not comply with the applicable requirements concerning the form and content of accounts set out In the Charitie5 (Account5 and Reports) Regulation$ 2008 other than any reqLilrement that the accounts give a true and fair view whSch Is not a matter considered as part of an Independent examination. I have no eoncern5 and have come across no other matters In connection with the examination to which attentlon should be drawn in this report in order to enable a proper under5tandSn8 of the financial sta ements to e reac ed, Will NSxev Martin and Company Two Brewers House 50 North Street Thame Oxfordshire OX9 38H Dated
LOUISA COTTAGES CHARITY TRUST STATEMENT OF FINANCIALAcfiviTIES FOR THE YEAR ENDED 31 DECEMBER 2025 Restrlcted Unre5trlcted Fund Fund 2025 Total 2024 Total Not• Income Donatlons and legacles Ineome from investments 17,000 17,000 39,396 23,000 37,654 39,396 Total income 17,000 39,396 56,396 60.654 Expendlture Expenditure on raising funds 117,0001 143,6841 160,6841 142,9781 Total expendlture 117,ocK)I 143,6841 160.6841 142,9781 Net 8ain5lllossesl on investments 123 123 56 Net Incomellexpendlturel for the year 14,1651 14,165 17,732 Net movement In funds for the y••r 14,1651 14, 1651 17,732 Total funds brought forward li 4,194 156,643 160,837 143,105 Tot41 funds carrled torward 4,194 152,477 156,672 160,837 The notes on pa8e5 8 to 11 form part of these account5.
LOUISA COTTAGES CHARITY TRUST BALANCE SHEET As at 31 December 2025 Not•s 2025 2024 Flxed assets Tangible flxed assets Social Investment 922 799 922 799 Current •sset5 Oebtors 3,137 2,827 Cash at bank and In hand 155,326 158,759 Total current assets 158,463 161,S86 Current IlabllSt1*5 Credltors.. zrnounts falllnB due wlthln one year io 12,7141 11,5481 Net currènt ass1 155,7SO 160,038 Total n•t a¥•ts 156,672 160,837 Capltal and re5erv•s Unrestrlcted Revenue ReseNe Reslricted Revenue Reserve Investment Revaluatlon ReseNe Endowment Fund li li li li 15 1,609 535 868 3,660 155,897 535 745 3,660 156,672 160.837 The notes on pages 8 to 11 form part of these accounts, The fln and clal statements were approved and authorlsed for Issue by the irustees on . Bned on thely behalf by.. Ann8 Austqn Ion bghalf of SJP Trust Corporatignl Trustee
LOUISA COTTAGES CHARITY TRUST NOTES TO THE ACCOUNTS Principal Accountlng Policie5 The Charlty is registered with the Housing Corporation as a Registered Social Landlord as defined ori8inally by the Housin8 Act 1996 and the Housing anil Re8eneration Act 2008. Basls of Accountln8 The financial statements have been prepared Sn accordance with the Charities Act 2011 and "Accounting arid Reporting by Charities.. Statement of Recommended Practice applicable lo charities preparin8 thelr accounts in accordance with the Financial Reporting Standard applicable in the UK and Republlc of Ireland IFRS 1021 leffectlve l January 20191" The charity is a Public Benefit Entity as defined by FRS 102. Loulsa Cottages Charity Trust constitutes a public benefit entlty a5 deflned by FRS102. As5et5 and liabilities are Initially reco8ni5ed at hlstorical cost or transaction value unless otherwise stated in the relevant accountln8 policy notes. Preparatlon of the accounts on a 8oln8 concern basls. After reviewing the charity's forecasts and projectlons, the trustee5 have a reasonable expectatlon that the charity ha5 adequate resour¢es to continue Sn operatlonal ex15tence for the foreseeable future. The charity therefore contlnues to adopt the golng concern basis in preparing its financial statements. Turnover and other income All incoming resources are Included In the SncDme and expendbture account when the charlty is legally entitled to the income and the amount can be quantified with reasonable accuracv. Income Donation5 are recognlsed In the year In whlch the charlty has entltlement to and probablllty of receipt and the arnount can be rellably measured. Income from bank deposlts and other investments, whlch Ss accounted for when St is recelvable. Income frorn investments represent resldential charges receivable from the gccupanls of the propertles. Expendlture Expenditure Is included on an accruals basS5. Expenditure on raising fund5 comprlse those expense5 directly attributable to managing investment Income. Flxed asset5 All fixed assets are Initially recorded at cost. social investments Investments are stated at market value. Revènue re5er4es Unrestricted funds are available for use at the discretion of ihe trustees In furtherance of the general objectives of the charlty. Restricted funds are sijblect to restriction5 on their expenditure imposed by the donor.
LOUISA COTTAGES CHARITY TRUST NOTES TO THE ACCOUNTS Icontinuedl Donatlons and le8acies 2025 2024 The Rothschild Foundation 17,000 23,OC(J 17,000 23,000 Income from Investments 2025 2024 Property rental Income 39,395 37,657 39,395 37,657 Net Income / lexpendlturel for the year 2025 2024 This Is stated after ehargin8'. Independent examlner fees 1,437 1,323 Expendlture on charltable actlvStle$ Restrlcted Unrestrlcted Total Funds Total Funds Funds Funds 2025 2024 Property expendlture Warden fees Flepalrs and malntenance Gardenlng and grounds maintenance Lighi and heat Water rates Insurance Independent examlner costs Social Housing Regulator Sundry expenses 5,439 26,520 3,349 354 3,496 2,164 1,437 664 261 5,439 36,520 3,349 354 3,496 2,164 1,437 664 7,261 5,807 20,536 2,580 344 2,S93 1,693 1,323 519 7,583 10,000 7,000 17.000 43,684 60,684 42,978 Trustees, remuneratlon and expenses No remuneration or expen5e5 have been paid to trustees in the year12024'. £nill
LOUISA COTTAGES CHARITY TRUST NOTES TO THE ACCOUNT5 {continuedl Tan8ible Flxed A$5ets Houslng propertle5 were donated prior to the implementatlon in 1994 of the Statement of Recommended Practice and therefore have no original cost. Works undertaken Sn the year have been treated a5 repairs and malntenance. There were elght un5t5 under management at the year end12024.. 81. Investments, at market value 2025 2024 612024.. 615hares in National Association of Alm5houses,' Common Investment Fund Ihistorital c05t £12,. 2021.. £ 121 Premium Saving Bonds 872 50 749 50 Market value at 31 December 2025 922 799 Debtors 2025 2024 Prepayments and accrued income Other debtors 2,691 446 2,454 373 3,137 2,827 10. Cr•dltors: •mounts falllng due within on• year 2025 2024 Other creditors Accruals and deferred income 437 2,277 191 1,357 2,714 1,548 io
LOUISA COTTAGES CHARITY TRUST NOTES TO THE ACCOUNTS Icontinuedl 11. Capital and reserve5 Unrestricted Unrestricted Restrlcted Investment Restrlrted revenue Revenue revaluatlon Endowment reserve Fund reserve reserve TOTAL 2024 At l January 2025 Unrestricted surplusl(deficill for the year Reslricled surplu81ldeficill for the year Increase in inve81ment market value during the ygar 155.897 535 745 3.660 160,837 143,128 14,2881 14.2881 17,460 194 123 123 54 At 310ecember 2025 151,609 535 745 3,660 156,672 160.837 12. Taxatlon Status A5 a re8lStered charlty, the charity Is exempt from taxation on its income and 8alns. 13. Related Party Transactlons There were no12024.. £01 related party transactlons durln8 the year. li