REGISTERED CHARITY NUMBER: 220807 REPORT OF THE TRUSTEES AND UNAUDrrED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 FOR THE JOHN HENRY KEENE MEMORIAL HOMES Clemence Hoar Cummings Chartered Accountants Riverside House 1-5 Como Street Romford Essex RM7 7DN THE JOHN HENRY KEENE MEMORIAL HOMES CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 Page Report of the Trustees Independent Examiner's Report Statement of Flnanclal Actlvltles Balance Sheet Cash Flow Statement Notes to the Cash Flow Statement Notes to the Flnanclal Statements 9 to 14 Detailed Statement of Financial A¢tivitles 15 to 16 THE JOHN HENRY KEENE MEMORIAL HOMES REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2024 The Tnjstees present their report with the firkancial statements of the charity for the year ended 31st December 2024. The trustees have adopted the provisions of Accounting and Reportlng by Charities.. statement of Recommended Practice applicable to charities preparing thelr accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 (effective I January 20191. OBJECTIVES AND ACTIVITIES Objectives and activities The purpose of the Registered Social Landlord is lo proviée and maintaln almshDLJses for the residential care of persons in need, In accordance wlth the terms of the scheme. The Scheme restricts the area of benefit to the City of Chelmsford. As a matter of practice, the Trustees consider for admisslon to accommodate persons between the ages of fifty-five and seventy-nine. Because of stairs, for flats the age of appointment is fifty-five and over, whilst for bungalows applicants are considered from the age of sixty. The Registered Social Landlord owng 28 rÈsid@ntlal bungalows and 14 flats occupied by residents, except for a small office and one bungalow which is occupied by a member of staff. A regular programme of maintenance to the almshouses has been carried out and the Trustees have continued a programme of improvements to the estate. The Communal Room, operbed in November 2006, is used by the residents who continue to arrange an active programme of soclal events and other activitie5. There are several regLtlar monthly events now taking place along wilh special c>ne-off occasions and visiting speakers. Public benefit The Trustees conf(rm that they have complled wlth the duty in Sectlon 4 of the Charities Act 2006 to have due regard to the Charity Commission's general guidance on public benefit. ACHIEVEMENT AND PERFORMANCE Charitable activities During the year the Trust has made further Improvements to the housing stock. These Include: 5 Bungalows refurbished with new kitchens 5 Bungalows refurbished with new bathrooms Installation of a new boiler in three of the properties New gutters and dL)wnpipes on all the bungalows Refurbishment of entlre flat roof and new gutters on the communal building Additlonal CCTV Installe Extended the wildflower garden and created new flower beds and lawn area5. There is healthy slzed waiting pool for properties from which applicants can be chosen quickly to reduce the posslbility of lengthy void periods. The complete housing stock meets the Decent Homes Standard. FINANCIAL REVIEW Financial position The financial results for the year are set out on page 6. The Registered Social Landlord retain5 sufficient reserves to maintain the almshouses. Reserves held at 31st December 2024 were £1,903,788 (2023 £1,780,194), of which £843,125 is held as the endowment fund and £308,495 Is held as restricted funds. The charity's unrestricted funds as 31st Dècembèr 2024 amounted to £752,168. Paqe I THE JOHN HENRY KEENE MEMORIAL HOMES REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2024 FUTURE PLANS The Trustees remain consclous of the need to budget for the lono-term malntenance and improvements. Maintenance contributions had been ralsed over prevlous years to achieve a level close to 'target rent, for the Chelmsford area. Thls has improved the financial position of the charlty and aided the recent programme of improvements to the housing stock. At thelr meeting ir¢ January 2025 the Trustees agreed to increase the weekly maintenance contributions by 2.70/a in line with the Regulator of Social Housing guidelines {inclusive of water and sewerage charges) effective from 2nd April 2025. During the coming year the Trustees aim to contlnue work to replace the Finlock gutters on the flats. They will also continue to Install easy access shower rooms and new kltchens as appropriate, both when there are voids and for existing residents. The lavender beds will be replanted after a delay due to an outbreak of box blight in 2024 and the agreed new seatino areas around the grounds will be installed. The bungalow porches will be re palnted and the communal areas in the blocks of four flats will also be repainted. The reserve mair5tained for replacement of the communal room now stands at £195,000. We plan to consult with an Architect on the basis of a feasibility study for the future replacement of the Raven Room. STRUCTURE, GOVERNANCE AND MANAGEMENT Governing document The charity is controlled by Its governing document, a deed of trust and constitutes an unincorporated charity. Charity constitutlon The charity was founded by a trust deed dated 29 Ntsvember 1932 as amended by a supplemental deed dated 30th October 1933 and is now governed by a scheme of the Charity Commission dated 10th May 1988 with revisions made by resolution on the Ilth of October 2022. The Charity is registered as a charity under the Charities Act 2011. It is also a Registered Social Housing Provider, which st3tus takes priority over its charitable status for reporting purposes. Recruitment and appointment of new trustees The Trustees of the Registered Social Housing Provider are shown on page 3 of these accounts. The appointment of the Mayor of Chèlm%foré is an ex-offlcio appointment. One Trustee is nominated by each of Chelmsford Cathedral, the Parochial Church Council of the f cclesi3Stical Parish of St Mary the Virgin, Great Baddow and the Parochial Church Council of the ecclesiastical Parish of St Michael and All Angels, Galleywood. The remaining Truste@s are appointed by the Trustees. Organlsatlonal structure The governing body Is also responsible for the management of the Registered Social Housing Provider, with day to day administration in the hands of the Clerk and employed staff. REFERENCE AND ADMINISTRATIVE DETAXLS Registered Charity number 220807 Prlnclpal address CIO The Old Bam, Parsonage Road Takeley Bishops Stortford Hertfordshire CM22 6QX Page 2 THE JOHN HENRY KEENE MEMORfAL HOMES REPORT Of THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2024 Trusteos J Black Ireslgned 31.10.24) L Foster D J Wlsbey D Fento J Halstead J Shaw D Lumley M Bodley l Moody {reslgned 30.4.241 J DoakTn P Adlington Independent Examiner Clemence Hoar Curnmlngs Chartered Accountant5 Riverside House 1-5 Como Street Romford Essex RM7 7DN Bankers Barclays Bank PLC 2 Hlgh Street Chelmsford CMI IBG REGULATOR OF SOCIAL HOUSING REGISTERED NUMBER A3937 Approved by order of the board of trustee5 on by.. and signed on Its behalf D Lumley - Trustee INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF THE JOHN HENRY KEENE MEMORIAL HOMES Independent examiner's report to the trustees of The John Henry Keene Memorial Homes I report to the charity trustees on my examination of thè accounts of The John Henry Keene Memorial Homes {the Trust) for the year ended 3 1 December 2024. Responsibilities and basis of report As the charity trustees of the Trust you art responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 I'th@ Act,). I report in respect of my examination of the Trust's accounts carrled out under Section 145 of the Act and in carrying out my examination I have followed all appllcable Dlrections glven by the Charity Commission under Section 145(5)(b) of the Act. Independent examiner's statement Sincè your charity's gross income exceeded £250,000 your examiner fflust be a tllember of a listed body. I can confirm that l am qualified to undertake the examination because l am a member of the Institute of Chartered Accountants in England and Wales, which Is one of the listed bodies. I have completed my examination. I confirm that no materlal matters have come to my attention in connection with the examination giving me cause to believe thot in any material respect.. accounting records were not kept in respett of the Trust as requlred by Sectlon 130 of the A¢t; or the accounts do not accord with those records,. or the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulatlons 2008 other than any requirement that the accounts glve a trLte and falr vlew which Is not a matter consldered as part of an independent examination. I have no concerns and have come across no other matters in connectlon wlth the exam1natlon to whlch attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached. David 8elbin Bsc BFP FCA DChA Clemence Hoar Cummings Chartered Accountants Riverside House 1-5 Como Street Romford Essex RN7 7DN Date.. Page 4 THE JOHN HENRY KEENE MEMORIAL HOMES STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 DECEMBER 2024 2024 Total funds 2023 Total funds Unrestricted funds Restricted fund Endowment fund Notes INCOME AND ENDOWMENTS FROM Charitable actlvities 246,134 7,368 253,502 236,802 Investment income 30,433 30,433 24,555 Total 276,567 7,368 283,935 261,357 EXPENDITURE ON Charitable activities Maintenance of social housing 148,567 36,684 185,251 217,923 Net oalns on Investments 22,904 2,006 24,910 17,700 NET INCOME/(EXPENDfTURE) 128,000 Transfers between funds 11 (114,022) 22.904 (27,310) 114,022 123,594 61,134 Net movement in funds 13,978 22,904 86,712 123,594 61,134 RECONCILIATXON OF FUND5 Total funds brought forward 738,190 285,591 756,413 1,780,194 1,719,060 TOTAL FUNDS CARRIED FORWARD 752,168 308,495 843,125 1,903,788 1,780,194 The notes form part of these financlal statements Page 5 THE JOHN HENRY KEENE MEMORIAL HOMES SALANCE S?IEET 31 DECEM ER 2024 2024 Total fund5 2023 Total funds Unrestricted funds Restricted fund Endowment fund Notes FfxED ASSETS Tangible assets Investments 1,267,186 1,267,186 61,852 370,347 1,189,849 345,437 308,495 308,495 1,329,038 1,637,533 1,535,286 CURRENT ASSETS Debtors Cash at bank and in hand 14,340 746,104 14,340 746,554 4,655 740,088 450 760,444 450 760,894 744,743 CREDITORS Amounts falling due wlthin one year (8,276) (8,276) (6,1031 NET CURRENT ASSETS 752,168 450 752,618 738,640 TOTAL ASSETS LESS CURRENT LIABILITIES 752,168 308,495 1.329,488 2.390,151 2.273,926 PROVXSIONS FOR LIABILITIES io {486,363) {486,363) (493,732) NET ASSETS 752,168 308,495 843,125 1,903,788 1,780,194 FUNDS un￿strICted funds Restricted funds Endowment funds li 752,168 308,495 843,125 738,190 285,591 756,413 TOTAL FUNDS 1,903,788 1,780,194 131 siatEments wwe approved by the Board of Trustee5 and 6uthorised for issue on nd were slgned on its behètf by: D Lumiey- Trustee M BcKiley - Trustee The notes form part of these ftnancial statements Page 6 THE JOHN HENRY KEENE MEMORIAL HOMES CASH FLOW STATEMENT FOR THE YEAR ENDED 31 DECEMBER 2024 2024 2023 t4otes Cash flows from operating activities Cash generated from operations 122,069 62,275 Net cash provided by operating activities 122,069 62,275 Cash flows from investing activities Purchase of tangible fixed assets Sale of tangible fixed assets Interest received (114,021) {62,547) 1,424 22,023 27,734 Net cash used in investing activities (86,287) 139,1001 Cash flows frorn financing activities Iricome attributable to endowment Expenditure attributable to endc>wment 7,368 {36,684) 7,370 {28,6651 Net cash used in financing activities {29,316) 121,295) Change In cash and cash equivalents in the reporting persod Cash and cash equivalents at the beginning of the reporting perlod 6,466 1,880 740,088 738,208 Cash and cash equlvalents at the end of the reporting perlod 746,554 740,088 The notes fomi part of these financial statement5 Page 7 THE JOHN HENRY KEENE MEMORIAL HOMES NOTES TO THE CASH FLOW STATEMENT FOR THE YEAR ENDED 31 DECEMBER 2024 RECONCILIATION OF NET INCOME TO NET CASH FLOW FROM OPERATING ACTIVITIES 2024 2023 Net Income fer the reporting period (as per the Statement of Financial Activities) Adjustments for: Depreciation charges Gain on Inveslmènts Profit on disP05al of fixed asset5 Interest received Income attributable to endowment Expenditure attributable to endowment Increase In debtors Decrease in creditors 123,594 61,134 36,684 (24,910) 29,115 {17,700) {1,424) (22,0231 (7,370) 28,665 {1,8461 {6,2761 (27,734) {7,368) 36,684 (9,685) {5,196) Net cash provided by operations 122,069 62,275 ANALYSIS OF CHANGES IN NET FUNDS At 1.1.24 Cash flow At 31.12.24 Net cash Cash at bank and in hand 740,088 6,466 746,554 740,088 6,466 746,554 Total 740,088 6,466 746,554 The notes form part of these flnancia5 statements Page 8 THE JOHN HENRY KEENE MEMORIAL HOMES NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 ACCOUNTING POLICIES Basis ol preparing the financlal statements The John Henry Keene Memorlal Homes is a registertd charity and a private registered provider of social houslng in the United Kingdom. The address of the registered office is glven in the charity information on page l of these finèncial statements. John Henry Keene Memorial Homes constitutes as a public beneflt entity as defined by FRS 102. These financial statements have been prepared in accordance wlth applicable accountlng standards including Statement of Recommended practi￿ applicable to charities preparing their accounts In accordance with Financial Reporting Standard appllcable in the UK and and Republlc of Ireland {FRS 102) as amended in July 2019, the Statement of recommended Practice for Social Housing providers in 2014 (the SORP) and with the Accounting Dlrection for private registered providers of social housing in England 2015. The flnanclal statements are also prepared under the requirements of the Housing Regeneration Act 2008 and the Co-operative and Community Benefit Societies Act 2014. The Financial statements have been prepared on a golng concern basis under the historlcal cost convention. The significant accounting policies app5ied in the preparatlon of these flnanci?l statement are set out below. The pollcles have been consistently applied to all years presented unless otherwise stated. Critical accounting judgements and key sources of estlmation uncertalnty The Trust makes estimates and assumptions concerning future performance. The resulting accounting estimates will, by definition, seldom equal the actual results. The estimates an