REGISTERED CHARITY NUMBER.. 220857
Report of the Trustees and
Financlal Statements for the Year Ended 31 March 2025
for
ELEANOR PALMER TRUST
Knox Cropper LLP
Chartered Accounlanls ancl Slalulory Auditors
65 Leadenhall Street
London
EC3A 2AD

ELEANOR PALMER TRUST
Contents of th8 Flnan¢lal Ststements
for the Year Ended 31 March 2025
Page
Reference and Admlnistrativa D&tsSls
Report of the Trustees
2 10 12
Report of the Indepgndent Auditors
13 10 15
Statoment of Financlal Activlties
16
Balance Sh&&t
17
Cash Flow Statement
18
Notos to the Cash Flow Statement
19
Note8 to the Financlal Statgmonts
20 to 32

ELEANOR PALMER TRUST
Ref&rencè and Admin18tratlve Detslls
for th8 Year Ended 31 M•r¢h 2025
TRUSTEES
Eleanor Palmer Trustee Limited
PRINCIPAL ADDRESS
106B Vvood Street
BaTnel
Hertfordshire
EN5 4BY
REGISTERED CHARSTY
NUMBER
220857
AUDITORS
Knox GTopper LLP
Chartered Accountants 8nd Slalutory Auditors
65 Leadenhall Street
London
EC3A 2AD
SOLICITORS
MHHP Law LLP
The Studio
Highslone House
165 Htgh Street
Barnel
EN5 5SU
BANKERS
National Weslminsler B8nk PLC
Barnel
Hertfordshire
EN5 5FF
Page 1

ELEANOR PALMER TRUST
Report of the Tru8te&s
for the Year Ended 31 March 2025
ThÈ Iruslees present their report with the financi81 slalemenls of the chaiily for the year endÈd
31 March 2025. The trustees have adopted the provisions of Accounting and Reporting by Charities..
Statement of Recommended Practice applicable lo chawilies preparing their accounts in accordance with the
Financial RepOrtIt￿ Standard applicable in the UK and Republic of Ireland IFRS 102} leffeclive 1 January
20191.
The orlgin of the Charity was a tyenefaclion of Eleanor Palmer who died in 1558. A¢¢ording to the plaque in
Barnel Church. she "did gev8 low acares of medowe ground in Kentishe Towrte holden of ye pwebend of
Cantelous unlo ye use of the Poore of this lowne and of Kentish lowne for everf,. The remaining land was
sold and the funds from the sale were invested by "The Eslale Charity of Eleanor Palmerf.. In September
2021, the Board members of the Eslale Charity voted lo close the Charily and the assets were divided
btheen Eleanor Palmer Trust and Sl Pancreas Welfar& Tru81. in the proportions stated in the Scheme.
Page 2

ELEANOR PALMER TRUST
Report of the Trustees
for the Year Endèd 31 March 2026
OBJECTIVES AND ACTIVITIES
ObJective5 and aims
Princlpal activitles
One of Ihe key objectives Df the Eleanor Palmer Trust is lo assist Ihe relief of p8rsons in the aroa of bener
who are in need, hardship or distress.,
Eloanor Palmer Trust provides Almshouse, supported accommodation for older people in financial hardship.
The properties are available for singles and wuples. In th8 Nuising 8nd Residential Care Home, 24-hour
cafts is provided for older people. The Charity also provid6s Relief in Need Grants for people in the local area
ol ben8fil.
The Charlty owns seventy*ighl Almshouse Sheltered Housing flats and bungalows located over four sit&s in
the EN5 area. It delivers housing, maintenance. and support services that meet the Regulator of Social
Housing IRSHI Slandards and prides itsew on the high $landards il achieves. Eight of these units are
suitabl6 lor wheelchair users. The majority of the properties have been devèloped over the last 30+ years.
anLI further improvements continue lo be considered by the B08fd, such ag the inslallalion of wet rooms and
kitchen upgrad8s, which is an ongoing programme, 8$ well as Security improvements.
"The Care Home. originally opened in 1990 with funding from a Social Housing Grant provided through the
Loc81 Authority. In February 2018, thè Care Quality Commission (CQC} approved ils re-regislralion,
changing its slalus from a 'Residenlial' Car& Home lo a combined 'Nursing and Residential, Care Home."
We currently support over 89 residénts through our Housing Support Officers. Additionally. every property is
equipped with a 24-hour alarm call system connected lo a rgsidenl's "talk-back" panel. Out of hours
assistance is provided by Enfield S8f8 and Connected.
The Charity's granl-giving serv1ce offers financial support lo individuals and nol-for-profil organisaliorTrs. In
accordance with the Scheme, beneficiaries must reside within the design81ed areas of benefil-primarily the
former Ipre-19651 Urban Dislricls of Chipping Barnet and East Barnel, which include n￿$1 of the ENS and
EN4 poslcode areas, as well as parts of N11 and N14.
The Charity is regisleied with. and works with the following bodies and organisal¢ons,'
. The Regulator of Social Housing {RSHI
National Register of Social Housing INROSHI
The Charity Commission
The Almshouse Association
The Care Quality Commission ICQCI
London Borough of Barnel
London BoTough of Islinglon
Hertlordshire County Council
Chartered Inslilule of Housing {CIHI
National Housing Fedeialion
Acuity Performance Benchmarking
. Age UK, Bgrnel
LACNG Larger Almshouse Charities Core Group
. WLAG Wesl London Almshouse Group.
Page 3

ELEANOR PALMER TRUST
Report of th& Trustees
for the Yèar Ended 31 Mareh 202S
ACHIEVEMENTS AND PERFORMANCE
Value for moneylmetrlcs
Eleanor Palmer Trust {EPT) is ? Registerèd Provider IRP) of Social Housing and we are required by the
Regulator of Soci81 Housing IRSHI, lo demonslrale lo our key stakeholdérs that we meet th8 standards sel
on 'Valu8 for Money., Value for Money for EPT means being effective in how we plan, mana90 and op8rale.
Our annual income was £3,763,012, the majority of which is received from social housing lellings al
£3,379,021
Our annual expenditure was £3,158,227 and of this we spent £2,488,124 on the provision ol setvices and
£245.027 on maintenance.
Support and management costs for s¢Kial housing lellings were £385,936. Void costs were £11,488 for
Sheltered Housing and £80,040 for the Care Home.
Part 1- Industry wide Value for Money Metrlcs
The RSH requires that performance eviden￿ is published in our annual accounts against s@ven key metrics.
The purpose of the revised slandard is lo ensure that the housing bodies report on a sel standard m8lrics so
that performan¢e can be compared lo pee¥s. Eleanor Palmer Trust IEPTI uses variety of metrics lo gauge
and corllpare its performance. 11 participates in A¢urty Benchmarking group covering the South and East of
England wher8 rt can compare wth other organisalions dèlivering similar sheltered housing seNices.
Wf(h regards to EPT. we have an untypical profile, being both a provider of supported housing for older
people and also a care home provider which will inevitably distort some of our metric resuts.
The Value for Money standard requires associations lo report in their accounts how they have performed
against their own metrics and how that p8rformance comparès lo peers.
The metrics focus upon measures of efficiency. effectiveness and economy.
Metric 1.. Reinvestment D/0
The investment in properties lexisling stock and new supply) as a percentage of
the value of lot81 properties hekl.
Metri¢ 2.. New supply delivered (social housing units} % the number of new social housing units delivered
as a proportion of lolal social housing units owned. We do not have any new hom6s in development.
However. flats fomier￿ occupied by the scheme managers wer8 made available lo Residents in April 2016.
M8lric 3.. Gearing.. Nel debt as a percentage of the value of tol81 properties hekl.
Mètric 4.. Eatnings before lftteresl, Tax, depreciation, amortisalion, major repairs Included (EBITDA MRI)
Interest Cover % Thi5 is a k8y indicator lor liquidity and investment capacity. 11 wneasures the level of
surplus a registered provider gen6rales compared lo interest payable. Thi5 avoids any distortions slÈmming
from the depreciation charge.
Metric 5.. Headline Social Housing cost per unit- Social Housing costs {as defi'ned by the Regulalorl dwided
by total unil owned andl or managed.
Metric 6.. Operating Margin O
expenses are taken into account.
This demonslr8les the profitability of operating assets before exceptional
Metric 7.. Return on capital employeLI IROCEQknI '_This compares the operating surplus lo total assets less
current liabilities. 11 is 2 common measure in the commercial sector lo ass8SS the efficient investment of
C8pilal resources.
Page 4

ELEANOR PALMER TRUST
Report of tha Trustees
forthe Year Ended 31 Mareh 202S
2024J25
2023124
A5 reslaled
4.83/0
NIA
-10,10°/D
-2109°
£14 700
-1.03OA
2.25Y.
11.79QkVh
Benchmark
e-investment
New su
I delivered
Gearin
4 EBITDA MRI-Inleiesl Cover %
Headline Social cost
er unil
Operating Margin Isocial Housing Lellings only)
eralin
Mar
Overall
eturn on Ca
ital Em lo
ed
2.28%
NIA
2.70%
ov.
17.30°
2009/0
£6.447
2801¢/
ROCE
18,64°/
2.53¥0
enchmafk data from Acuity Smaller Providers 2023134 benchmark sector scorecard analysis report.
Part 2- EPT Value for Monèy Objective¥
11 Stratèglc Objectives
Our slralegi¢ objective is lo "provide qualrfLy housing, care and support services for okier people in need that
promotes independen¢e and choice in a safe environmenf, lo older people in our area of benefit. We are
Gommilled lo maintaining the highest standards of housir79 and professional care for all residents. In 8n
inclusiv8, personal, supportive, Sale, and friendly community.
21 Our approach to achlevè value for monoy and the delivery of value for mon8y to stakeholders
al Understanding the needs of our stakeholdgrs
Otjr main stakeholder group is our residents, both current and future. It is our residents and families. who
drive demand for our service and for whom we strive for continual improvement in providing homes of a high
standard.
Ke "Stakeh'older.
Residents- Sheltered Housing
Our.und9fStan'dRn
of'Stakeh"o
ersAx
OCtations'.'
Thé lop priority for residents is keepin9 them informed and listening
lo their views, the overall quality of their homes, responsive repairs,
maintenance and a safe community. Regular events, classes and
outings ar8 Ofganised to encourage the inler8clion and support fr)r
each other within the EPT communil
Activities - mental and physical stimulation, personal interests and
hobbies, re-decoration and upgrading of the facilities, safety in a
secure and clean Home, friendly staff, and meetings organised for
residents or their family members lo hear their views, good
communication, s
eed of medical attention and com
lianl care.
Good management communication, support and a collaboralnie
8pproach, training and career progression opportunities.
Resident and families- Care
Home Icanlelowes House)
Eleanor Palmer Trust Staff
Risk Assessment and Prccedur@s monitored on a re
ular basis.
Following the iegulations, demonslraling delivery ol the charitable
ob'eclives, our mission, strato
1¢ vision and financial slabilil
Understanding and following the regulations of the RSH. Strong
policy on value for money for residents and a financially viable
or
anisalion.
Delivery of service that is safe, effective, caring, responsive and
well-led. Full
com
lianl care and accommodalion.
Delivery of housing, support and care services that are in
accordance with local slrale
ies and meet the re
uired standards.
Coll8boralive working where possible to help beneficiaries,. sharing
of knowledgè and setvices lo hetp ben8fKiarie8,' best value in
sèrvice
rovision.
Standards ofAlmshouse Management {SAMI.
Charity Commission
The Regulator of Social
Housing
Care Quality Commission
London Borough of Barn81
Third Sector organisations that
deliver services in our area
The Almshouse Association
Page 5

ELEANOR PALMER TRUST
Report of the Trust•è$
for the Year Endèd 31 Mar¢h 2026
bl Our Approach
We continue lo proV￿e a housing support service with an aim to promote a good, safe, effeclwe, inclusive
community for our residents to enjoy. Value for money 15 extremely important lo us and this is consid&red in
all of our spending decisions.
• Conducting bi-monthly Board meetings to ensure that all Board members are fully up lo dale of all elements
of the Ch8rily on a regular basis.
Annual skills audit of all Board members.
Conducting quarterty resident meetings attended by the Boaid members, th& CEO and the Housing
Support staff lo consult and listen lo the r8sidenl views on the m8nagemenl of the maintenance of their
homes and services provided.
Carrying out annual Tenant Satisfaction Measures Surveys ITSM) in line with Government requirements, lo
ensure 8 SiIPPDrtive, $flicient, cost-effective housillg management service is provided to a hvJh level of
resident satisfaction and lo listen lo their views.
Maximising Choi￿ and value for money for our residents.
Annual review of financial procedures, maintaining focus on costs throughout our opeTalion8 by procuring
good, efficient services al the best pric8.
. Appointing professional consultants lo project manage the ongoing planned maintenance wotk.
Ensuring the maintenance plan is adhered lo and included with the annual budget.
Invest in our staff, especialW in their training and development.
Obtaining the services of specialist investment comp8ny lo ensure increasing financial return on our
investments.
We are a m8mber of Acuity benchmarking group Whe￿ both the sector scoracard, regulator metrics and
o¢her benchmarking data is entered. The benchmarking Teport reflect8 our dals and th81 of other similar
organisalions.
Improv8d turnaround limes on voids bench marked agalnst other providers.
Aim to achieve year on year efficiencies.
* Subsidising Resident's events and offering a variety of outings, activities and group sessions ta support and
slimulale the residents. Alming lo encourage community spirit. stimulation of physical and menlal well-being
and offering support.
31 Strategy for dellvering homes to meet range of needs
We engage with our residents, and their familles via a variety of means, including..
Experienced Housing Support Officers.
Experienced Registered Nurse Cale Home Manager.
. Experienced Deputy Care Home Msnager.
Experisnced Senior Management Team.
Regular staff training programme.
Maintenance satisfaction forms for all works completed within resident's homes.
Coffee mornings, group events and activities for sheltered residents held weekly scheme by sch&me.
Weekly organised resident 8clivrfcies include lunch club, Bingo, gam&8 afternoon. support meetings and fish
& chip suppers.
Evenls, trips and aclwities e.g. 811 siles Christmas lunch party, Seasonal afternoon leas. Ihealre, boat and
sea-side trips, plus many other resid6nl OL51ings.
Resident suggeslionlfeedback boxes al all siles.
. Annual gardening compelilion.
Senior Management team inspection visits and ad-hoc regular visbts to speak with residents.
Annual Tenant Satisfaction Measureslsurveylfeedback questionnaires are circulated to all sheltered
housing schemes and Care home resid&nts, farnilynriends and lo all glaff members.
Maintaining the alarm call system lo provide 24 hr. response lo resident incidents.
Page S

ELEANOR PALMER TRUST
Report of tho Trustees
lor the Year Ended 31 March 2025
41 Optlmlse Economyj &fficlency and pffectiveness
The Chaiity has had a successful year whilst mainlalned high standards of service and maintenance of the
housing stock.
We have a Fobusl approach lo our costs rrkgnagement. We have a planned mainl@nance slrate9y carried out
by a qualified surveyor lo ensure that maintenance program is pre-planned and financial resources are
allocated in a timely manner. The senior management team carTres out compèlilive tendering on other
services which we obtain on a periodical basis to ensure that competitive pricing is achieved without
compromising on quality. We participato in a benchmarking group lo ensure that we are providing th8
services in line with our peers.
We reviw contracts annually lo ensure not just economic value. bul also quality in our contract se¢vices for
the best servicelproducls is received.
Our cyclical maintenance targets have been mel and that we are up lo dale with planned maintenance.
Our monitorin9 of the maintenance Servi￿ procurements of goods continues to be good. which achieves a
more cosl effectlvè and effi¢ienl servic6. This results in clarity of spending, 811ocalion of resources and
historical records for future cyclical works. budgeting 2nd thus producing more effective results for
benchmarking. This has had a positive impact on OUT Value for Money.
Our Five-year Maintenance Strategy is about achieving excellent quality alongside value for money. Better
pr￿ul￿ment processes have led lo a continuing plan of work, bul with lighter control of cost8 and increase
focus on accessibility and oase of use for our frailer residents.
Staff trainin9 and information regularty provided.
The Trust's entrance cThlèria for housing have resulted in more people in direct financial hardship being
housed as per our Scheme.
51 Our Achievements and Aims forthe followlng 12 months
The Charity has a continued focus on a slrDng p￿Ven￿lIVe Maintenan￿ policy wh￿h results in both less
inconvenience for residents, well maintained propèrt1es and beller value for money.
Continuing to monitor KPI'S in respect of repairs and maintenance. voids and lellings. We also use the
iFrfom)alion lo sel otjr fO￿ard targets.
The lop priority for residents is keèping them informed and lisl&ning to their v¢8ws, the overall quality of their
home. responsive repairs, Maintenan￿ and a safe community.
V8rious improvements have been made in the outdoor and indoor areas 8t all of the siles, for the residents
and visitors comfort, mental and physical health and well-being. These improvements include..
Major tree maintenance works, and boLbndary fonce repl8￿ment have taken place throughout the year and
8re continuing.
Pathway maintenance and widening of foolpalhs and curb drDPS for residents who have mobility issues
havo been carried out al the majority of si18S.
Newsy designed kitchens and wel rooms have been inslalleé al all four sites throughout Ihe year.
A fire door rep18cemenl programme in the Care Home has been completed and will continue lo be rolled
out in the sheltered housing silos. The Byford House stte is now complete and the fire door replacement
programme will continue lo be rolled out throughout the year at all other sites.
New eledri¢ Velux windows and blinds have been filled at the Care Horne.
Refurbishment of the Care Home lounge.
New armchairs in the Care Home lounge for the residents and continuatiorb of the furniture replacement
programme in the Care Home and sheltered housing communal lounges.
Legionella survey and works completed to reduce the risk of Legion811a.
PagÈ 7

ELEANOR PALMER TRLIST
Report of the Trustèes
for the Year Endod 31 March 202$
The Care Home's Lounge relurbishmenl of floor sunken electrical sockets throughout the seating area and
additional Resident sealing.
Re-developed the sunktsn garden area and pathways al the rear oflhe Home.
Inslallalion of new disabled garden access at the Home.
. LaunLlry area upgrade.
Laundry and communal kil¢henlkJunge refurblshmenls al all four siles
The conversion of balhrocims to wel rooms in the Almshouses continues for future proofing the facilities in
all resident's homes.
Looking al development options for additional Almshouses using existing land.
To create an additional ensuite wel room in the Home.
New fire door entry has been created at the Care Home.
Refurbishment of the communal loungo at Wood Street, $heFtefed housing sile.
Garden improvements with planting
New bin store al Byford House sile.
Friv8cy trellis filled at Eleanor Gardens.
The staff and residents, voluntary run allolmenls have produced an abundance of fNit and vegetables which
have been delivered on a regular basis lo the Care Home and sheltered residents alike.
The Charills plan8 going fotward are.. -
Looking lorward the Charity aims to..
The Home is working towards the Gold Standards Framework.
Boiler Room re4esign and boiler roorn upgrade al Byford House.
Fire Rated works al Chesterfield Road silè.
Design and develop a new comrnLbnal outdoor area al Palmer Gardens, wlh palio and new garden furniture
for the residents.
Wel room and kitchen upgrade programme continued lo be ro116d out in the Care Home and al the
sheltered housing siles.
A fire door replacement programme in the Care Home has been completed and will ¢onlihue lo be rolled
out in the sheltered housing siles including communal lounge doors al sheltered housing srtes.
Reconfigure the sink and trolley area al the Care Home.
Looking at development options for additional Almshouses.
FINANCIAL REVIEW
Flnancial positlon
The Charity has deliVe￿d a strong operating performance. The Board is pleased to report a 8urplus for the
12.monlh period for the year ended 31st March 2025 of £651,467.
The operational Suiplus this year was £604,785, before adjustm&nls for the valuation of inveslmenls.
The Board monitor fe5ulls of the Care Home on a monlhty basis and the Almshouses on a quarterly basi8
against the agreed annual budget. The Board have reviewed future forecasts and are satisfied that the
Charity Is 8 going GOn￿rn. The 8ccounls have therefore been prepared on the going Concern basis.
Repairs and stock malntenance
The Charity aims lo k8ep all ils properties and sites safe, secure and well maintained following a planned
and cyclical maintenance PTogramme.
An extraordinary repair fund has been established for many years lo finance any exliaordinary repairs the
Charity has lo carry out.
Page B

ELEANOR PALMER TRUST
Report of the Trustee8
for thg Year Ended 31 March 2025
FINANCIAL REVIEW
Investmont and reserves policy
The Charrty holds reserves backed by investments lo meet ils short and long-term obligations. Fre8 reserves
are hekl lo meet short-lerm oblig81ion$. The Charity has had a positive year with investmonl income of
£351,555.
A portfolio of investments is held lo provide, in the short term. income to subsidise housing costs, ensurÉng
the conlinualion of the ChaTily and any additional benefits required for residents.
In the long tem, the investments aim to achieve sufficient growth, enabling the above benefits lo Continue at
or 8bove the same relative l@vel of value.
Rathbones Group continues lo manage the charily's main investment portfolio. Ralhbones prepare5 a
comprehenslve report for the Board every quarter and presenls it annualty. The Board makes all key
decIS￿n$.
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governlng document
The charity is controlled by governing document, a deed ol trust and Constitutes an unincorpoTaled
charity.
PaB8 9

ELEANOR PALMER TRUST
Rèport of the Trustees
for the Year Ended 31 March 2025
STRUCTURE, GOVERNANCE AND MANAGEMENT
Risk management
The Risk Register is kept up ID dalo, and the Policies Procedures are reviewed to ensure that residents
and staff are kept safts and supported. An emergency protocol is available for all staff lo implÈmenl if
required, along with additional training and support.
Compllance with thg Governance and Vlablllty Standard
The Board confirm that the Charity has mel the Rogulalor of Social 14ousing's regulatory expeclalions in
terms ot governan￿ and financial viabilily.
The Board intend lo ensure that the Charity continues lo meet the needs of residents by maintaining the
properties lo a high slandaTd and, where possible, adapting them lo suit the n@eds of individual residents as
their circumstan￿S change. The Board are confident that the Charity will continue lo provide safe,
comfortable homes for the residents in pleasant surrounLlings for th& foreseeable future. Value for Money is
al the heart of how we think al Eleanor Palmer Trust, the B￿rd and CEO are focused on maintaining that
commitment in the fuluie.
From 1 April 2024. the regulation of social housing changed. following changes Introdu￿ by the Social
Houslng (Regulalionl Act 2023. The Housing Secretary announ¢ed that an amendment had been passed by
the Government requiring social housing mana9ers lo gain professtonal qualifications. This required social
housing managers lo gain professional qualifications through the Chartered Institute of Housing ICIH). The
aim of these chang&s is lo strengthen the accounlabilily of So¢i81 Landlords for providing good quality
affordable homes, quality services, and Irealing residents wilh dignity and respect. Two of the Charity's staff
members have completed the required qualiftcation.
Risk assessmgnt- prlncipal rlsks and uncertalnties
Pol?ntial major risks that the Charity could be exposed lo art considered by the Board and the sysl&m8
reviewed.
Cyber risk
The IT Infraslruclure of the Charity is a paramount lo the Board 8nd overseen by the Chief ExeculNe. The
ChaTily tdenlilied that as a regulated body they are vulnerable to a concerted cyber-attack and has protocols
In place.
Governance
We Gonlinue to work towards our slated aim of ensuring our approach lo governance 15 best practice and
that we woik lo the principles sel within the Good Governance c￿e. Strategic focus continues lo bg of
parsmounl importance for the Board. The Board members have a w￿e ran9e of varied skills and experience
that conlribules greally lo the slienglh and knowledge of the Board.
Rlsk management and internal control
The Directors have reviewed the msjor risks lo which the charity is exposed relating to the operations of the
Charity. *ts inveslfnenls and ils finances. The Directors believe that by examining the specific and general
business and operations risks faced by the Chaiily, by onsuring controls exist over the finan¢ial systems and
safe custody of the Charity's assets and illveslm8nls, and by monitoring Ihe reseTves of the Charity they
have established effective means lo mitigate those risks.
The Directors are responsible for the Charity's system of internal control. They recognise that such a
system can provide reasonable, bul not absolule, assurance against material miss131emenl or loss.
The main f8alures of the internal control system are..
wrillen financial procedures which sel out responsibilities and level8 of authority
annual budgets with clear accounlabilily for control of each part of the budget
quarterly reporting cycle to the Directors.
Page 10

ELEANOR PALMER TRUST
Report of th• Tw$t&es
for the Year Ended 31 March 2025
STRUCTURE. GOVERNANCE AND MANAGEMENT
Eleanor Palmer Trusl was lounded on 29 February 1558 and is a registered charily, no. 220857.
The present goveming instrument ol the Charity is a Scheme s@aled and registered with the Charity
Commission on 22nd May 2015. This conslilules a Limited Company, Limited by Guarantee, Eleanor
Palmer Trustee Limited acts as Trustee of the Charily.
The Scheme mdifies earlier Schemes which regu5ated the Charity previously known as the Charily of
Eleanor Palmer (share of, for the benefit of the Ancient Parish of Chipping Barnet). In 1999 the Samuel and
Rebe¢¢a Byford Charity was in¢orporaled into the Eleanor Palrner Tiusl Charity.
Eleanor Palmer Trustee Limited consists of eleven compelenl Direclors, four are London Borough of Bamel
Nominated Directors, and seven Co-opted Directors. The accounts are prepared in accordanc8 With the
Charities SORP (FRS 1021.
The Board meet bi-monthly and continually review th& care and housing being off8red and are ah￿ayS
looking for improvemenls lo benefit the resid8nls and tho longevity of the Charity. The Chief Executive
Officer ICE0} is appointed by the Board lo rnanage the day-104ay operations of the Charity, The CEO h85
delegated 8ulhorily, within terms of delegation approved by the Board for operational mallers including
finance and employment. The risks are analysed and compiled in the risk register which is rèviewed and
monitored by the Board al every Board meeting.
The Board has a robust system of rules, management. policies and procedures to help maintain a high
standard of governance and conduct. The Board has a diverse range of backgrounds in business and
prolessional Ikfe bringing 8 broad range of expérience lo Board providing a high standard for effective and
informed decisions throughout the year. All Board members give their lime voluntarily.
The Charity is regislered with the Regulator of Social Housing and with the ca￿ Quality Commission.
The Board confiim that they h8ve complied with Ihèlr duty under seclM)n 17 of the Charities Act 2011 i
respect of public ben8lit guidance published by the Charity Commission.
Page 11

ELEANOR PALMER TRUST
Rgport of thè Trustge8
for thè Year Ended 31 March 2025
STATEMENT OF TRUSTEES, RESPONSIBILITIES
The Iruslees are responsible for preparing the Report of the Trustees and the financial slalemenls in
accordance with applicable law and Unl£ed Kingdom Accounting Sland8rd$ (United Kingdom Generally
Accepted Accounting Praclrcel.
The law applic8ble lo charities in England and Wales, the Charities Act 2011, Charity (Accounts and
Reports) Regulations 2008 and the provisions of the trust deed requires Ihe Iruslees to prepare financial
slalemenls for each financial year which 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 thè charity for
that period. In preparing those financial slalem6nls, the trustees are required lo
-se18cI suitable accounting policies and then apply them consistently.,
-obsorve the methods and principles in the Charity SORP.,
-make judgements and eslimales that are reasonable and prudent.,
-prepare the finsncial statements on the going concern basis unless il is inappropriate lo presume that the
harlty will continue in bltsiness,
The Iruslees are responsible for keeping proper accounting records which disclose with reasonable accuracy
al any lime the financial position of the charity and to enable them lo ensure that the financial slalemenls
comply with the Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008, the Housing and
Regeneration Act 2008, the Accounting Direction for Prtvale Registered Providers of Social Housing 2019,
?nd the provisions of the trust deed. They are also responsible for safeguarding the assets of the charity and
hence for takirig reasonable steps for the prevention and deleclion of fraud and other Fr￿gularItIes.
The Iruslees are responsible for the maintenance and integrity of the charity and financial informalk)n
included on the charity's website. Lugislation in the United Kingdom gov@rning the preparation and
dissemination of financial statements may differ from legislation in olherjurlsdiclions.
Approved by order of the board of Iruslees on .
Trustee
Page 12

Rgport of tho Ind8pondent Audltors to tho Trustees of
Eleanor Palmgr Trust
Opinion
We have aLFdited the financial st8temenls of Eleanor P81mer Trust {Ih9 'charity'l for the y&ar ended
31 March 2025 which comprise the Slalemenl of Financial Aclivilies, the B81ance Sheet, the Cash Flow
Statement and notes lo the financial slalemenls, including a summary of si9nificanl accounting policies. The
financial reporting framework that has beèn applied in their preparalion is applicable law and United
Kingdorn Accounting Standards (United Kingdom Generally Accepted Accounting Praclicel.
In our opinion the fi'nancial slalements..
give a true and fair view of the stale of the charity's affairs as at 31 March 2025 and of ils incoming
resources and application of resourcos, lor the year then ended.,
havè been properly prepared in accordance with Untied Kingdom Generally Accepted Accounting
Practice.. and
h8ve been prepared in accordance with the requirements of the Charities Act 2011.
Basis for opinion
We conduded our audit in accordance with International Standards on Auditing (UK} IISAS IUKI} and
applicable 18w. Our responsibilities under those standards are further described in the Auditors,
responsibilities for the audit ol the financial slalemenls section of our report. We arè independent of the
charity in accordance with the elhic81 r8quiremenls that are relevant to our 8udil of the financial slalements
in the UK, including the FRC'S Ethical Standard, and we have fulfilled our olh8r ethical responsibilities in
accordance with these requirements. We believe that the audit @vidence we have c*lained is sufficient 8nd
appropriate lo provide a basis for our opinion.
Conclusions relating to golng concern
In auditing the financial slalemenls, we have concluded that the trustees, use of the going concern basis of
accounting in the preparation of the financial statements is appropriate.
Bas6d on th8 work we have performed, we have not identified any material uncertaintios relating to &venls or
conditions that, individually or collectively, may ¢asl significant doubl on the charity's ability to continue as a
going concern lor a period of al least twelve months from when the financial statements are aulhorised for
issue.
Our responsibilities and the responsibilities of the trustees with respect lo going concern are described in tha
relevant sections of this report.
Other information
The trustees are responsible for the other information. The other information comprises the inlormalion
included in the Annual Report, other than the financial ststemenls and our Report of the Independent
Auditors Ihereon.
Our opinion on the financial statements does not cover the other information and, except lo the exlenl
otherwise explicitly staled in our report. we do not express any form of assurance conclusion thereon.
In connection with our audil of the financial stal8ments, our responsibility is to read the other information
and, in doing so, consider whether the other information is materially ir¢consislent with the financlal
statements or our knowledge obtained in Ihe audit or otherwise appears lo be materially misslaled, 11 we
identify such material inconsistencies or apparent material misslalements. wo are requiTed lo determine
whether this gives rise lo a material misslBlement in the financial statements themselves. If, based on the
work we have performed, we conclude that IheTe ts a material misslalemenl of this other information, we are
Tequired to report that fact. We have nothing lo report in this regard.
Matters on whlch we are required to report by exceptlon
We have nothing to report in Tespèct of the following matters where the Charities {Accounls and R8POrts}
Regulations 2008 requires us lo report lo you if, in OUT opinion..
the information given in the Report of Ihe Trustees is incons¢slent in any material respect wllh the financial
slalemenls., or
sufficient accounting records have not Iken kept., or
the financial statements are not in agreement with the a¢counlin9 records and relufns.. or
we have not received all the information and explanations we require for oui audit.
Page 13

Report of tho Independent Audltors to the Trust￿ of
Elèanor Palmer Trust
Responsibilitios of truste8s
As oxplained MO￿ fully in the Slalem8nl of Trustees. Responsibilf(ie8. the trustees are responsible for the
prepaialion of the financial slalements which give a true and fair view, and for such internal control as the
Iruslees determine is necessary lo enable the preparation of financial slalemenls that are free from material
misslalemenl, whether due lo fraud or error.
In prop8ring the financial statements, the trustees are responsible for assessing the charity's ability lo
continue as a going concern, disclosing, a& applieable, mallers related lo going concern and using the going
concern basis of accounting unless the trustees either intend lo liquidate the charity or lo cease operations.
or have no realistic allernalive bul lo do so.
Our responsibllltles for the audlt of the financial Statements
We have been appointed as audiltsrs under Section 144 of the Charities Acl 20118nd report in accordance
with the Act and relevant regulations made or having effect Ihereunder.
Our objectives are lo obtain reasonable assurance about whether the financial slalemenls as a whole are
free from material misstalemenl, whether due to fraud or error, and lo issue a Report of the Independent
Audilors that includes our opinion. Reasonable a5suran¢e is a high level of assurance, bul is not a
guarantee that an audit conducted in accordance with ISAS (UK} will a￿ayS delecl a material misslalemenl
when il exists. Misslalements Can arise from fraud or error and are considered material if, individually or in
the aggregate, they could reasonably be expected lo influence the e¢onomic decisions of users taken on the
basis of these financial stalemenls.
The extent lo which our procedures are capable of detecting ir￿gUIarl1ies, including fraud is detailed bebw..
Irregularities, including f￿Ud, are instan￿$ of non&compliance with laws and regulations. We design
procedures in line with our responsibilities. outlined above, to delecl material misslalements in respect of
irregularities, including Iraud. The exl&nt lo which our procedures are capab18 of dete¢ling irregularities,
including fraud is detailed b810w.'
. We obtainèd an understanding of the legal and regulatory frameworks that are applicable lo the charity and
determined that the most significant are the Charities Act 2011 and the acGoullling direction for private
registered providers of social housing 2022.
The Charity is required lo comply with charity law and, based on our knowledge of ils aclivilies, we
identffied that the legal requiiem8nl lo accurately account tor reslricled funds was ol key 8ignifican¢e.
• We understood how the charity is complying wilh those frameworks via eommunicatton with those charged
with governance, together with the review of the charity's documented policies and procedures,
We assessed the susceptibility of the charitys linancial slalemenls lo material misslalement, inclLMling how
fraud might occur by considering the key risks impacting the financial slalemenls. These included risks
associated with Revenue Recognition, application ol accounting estimates, and Management Override of
Controls, whi¢h w&re dis¢usseLI and agreed by the audit team.
Our approach included agreeing the charity's recognition of income lo the lemis of licensee agreements,
reviewing the assumptions used and cor)Irols applied the calculation of accounting eslimales, the review
of journal entries pro￿Ssed in the accounling records and the invesl¢galion of Significant and unusual
transactions identified from our review ol th8 accounting records.
Based on this understanding we designed our audit procedures lo identify non-compliance with such laws
and regulations. Our procedures involved a review of the reporting lo the board members with respect lo thè
application of the documented policies and procedures 8nd a review of th8 financial slalements to ensure
compliance with the r@PDrting requirements of the charity.
There are inherènt limitations in the audit pro￿d￿r¢S described above and, the further remov&d
non-compliance with laws and regulations is from the 8venls and transactions reflected in the financial
slalemenls, the less likely we would become aware of it. The risk of not detecting a material misslalemenl
due lo fraud is higher than the iisk of not detecting ono resulting from error, as fraud may involve deliberate
concealment by, for example, forgery or inlenlional misr8pres&ntalions, or through collusion.
A further description of our Te5ponsibilitie8 for the audit of IhÈ financial slalements is located on the Financral
Reporting Council's website al www.frc.org.uk1audilor8￿sPQnSlbllIIle$. This descciplion forms wrt of our
Report of the Independent Auditors.
Pagè 14

Report of the Indopendent Audltors to the Tru¥tè•s of
Eleanor Palmer Trust
Use ofour report
This report is made solely to the charity's Iiustees. as a body, in accordance wlh Part 4 of th8 Charities
(Accounts and Reports) Regulations 2008. Our audit work has been LSndertaken so that we might slate to the
charity's Iruslees those mallers we are required lo slate lo them in an audiloTS' Teport and for no other
purpose. To the fullest èxtent permitted by law, we do not a¢¢epl or assume responsibility lo anyone other
than the charity and the charity's Iruslees as a body, for our audit work, for this report, or for the opinions we
have formed.
Lo¥ &fffr llr
Knox Cropper LLP
hartered Accountants and Statutory Auditors
65 Leadenhall Street
London
EC3A 2AD
Date..
Page 15

ELEANOR PALMER TRUST
ststemenl of Flnancial Activitlgs
for the Yèar Ended 31 March 2025
2025
Totsl
funds
2024
Tot81
funds
as restated
Unreslri¢led
funds
Restricted
fvnd
Notes
INCOME AND ENDOWMENTS FROM
Donations and legacies
1.970
1,970
2,915
Charltable activltltrs
Almshouses
Care Home
1.015,918
2.363,103
1,01 5.918
2.363,103
943,750
2,334,375
Other trading activities
Investment inCf)me
30,486
351,555
30,466
351555
31,608
354,376
Total
3763012
3 763.012
3 667 024
EXPENDITURE ON
Raising funds
39,140
39.140
26,877
Charitable actlvities
Almshouses
Care Home
733,763
2 324 899
60.425
794,188
2,324.899
953,467
2,257,670
Total
3 097.802
3 158,227
3,238.014
Net gains on investments
NET INCOMEIIEXPENDITUREI
711,892
{60,4251
651.467
948,953
RECONCILIATION OF FUNDS
Total funds brought forward
As pieviously report8d
Prior yèar adjuslmenl
13.613,942
13
13.613,942 16,556,080
3 891091
3,891091
As restated
13,613,942
3.891.091 17,505,033 16.556,080
TOTAL FUNDS CARRIED FORWARD
14,325.834
3,830 866 18.156 500 17,505,033
The notes ltsrm part of these financial statements
Page 16

ELEANOR PALMER TRUST
Balance Sh88l
31 March 2026
2025
Total
funds
2024
Total
fund8
as restated
Unr￿St￿ted
funds
Res1iiEted
fund
Notes
FIXED ASSETS
Tangible assets
Investmènts
Investments
Investment property
16 2,972.734
3,830.866
8,803.400
6,795.952
17 9,465,082
18
615 000
9.465,082
9,547,815
615 000
13,052,816
3,830,666 16,883,482 16,958.7S7
CURRENT ASSETS
Deblors
Cash at bank
19
160,106
1367 871
160,106
1367 871
81,772
766.938
1.527,977
1,527,977
848,710
CREDITORS
Amounts falling due ¥vithin one year
20
1169,5431
1169.5431
1215,5121
NET CURRENT ASSETS
1,358,434
1.358 434
633,198
TOTAL ASSETS LESS CURRENT
LIABILITIES
14,411,2SO
3,830,666 18,241,916 17,591.965
CREDITORS
Amounts falling due after more than one year 21
186,4161
185.416}
186,9321
NET ASSETS
14 32S.834
3 830 666 18 156,500 17,505,033
FUNDS
Unrestricted ftjnds
Restricted funds
23
14,325,834 13,613,942
3.830.666
3,891,091
TOTAL FUNDS
18,q56,500 17 505 033
The fin8ncial slalemenls were approved by the Board of Trustees and authorised for issue on
I7￿ S I￿￿-.....2￿.Z.fj..,. and were signed on ils behalf by..
Trustee
Thè notes loim part ol these financlal statements
Page 17

ELEANOR PALMER TRUST
¢a5h Flow Statement
lor the Year Ended 31 March 2026
2025
2024
as reslaled
Notes
Cash flows from operatlng activltles
Cash generated from operations
Interest paid
315,725
58,081
9,139
Nel cash provided by operating activities
306 716
Cash flows from Investlng activltlgs
Purchase of tangible fixed assets
Purchase of fixed asset investments
Sale of fixed asset investments
Reclassification of investments to cash
Interest rec8ived
Dividènds received
1183,5091
1823,6921
791,135
200,000
16.611
295,044
1351.930)
(1,981,158)
1,685.278
66,400
10.094
304,382
Nel cash provided byllused inl investing activities
Cash flows froTn financlng activitles
Loan repayments in year
1,2421
Nel cash used in financing activities
Change in cash and cash equivalent5
in the reporting period
Cash and cash equlvalents at the
beginning of the reportlng perlod
600.933
1219,234)
766,938
Cash and cash equlvalents at the end
of the reporting period
1 367.871
766,938
The not6$ form part of thase financial stalgrnents
Paga 18

ELEANOR PALMER TRUST
Notes ¢0 thg Cash Flow Statsrnant
for the Year Endèd 31 March 2025
RECONCILIATION OF NET INCOME TO NET CASH FLOW FROM OPERATING ACTIVITIES
202S
2024
as reslaled
Net income for Ihe reportlnu perlod las per the Statemènt of
Financlal Activities)
Adlustments for:
Depreciation Charges
Gain on investments
Interest received
Interest paid
Dividends received
Ilncreaselldècrease in debtors
IDeoreasts)Iincrease in creditors
651,467
948,953
176,062
151,924
184,710) 11,040,463)
{16,611)
110,0941
9,009
9,139
1295,0441
{304,3821
178,3341
224.813
46.114
78.191
Net cash provlded by operations
315.725
58.081
ANALYSIS OF CHANGES IN NET FUNDS
Al 1.4.24
Cash flow
Al 31.3.26
Nèt cash
Ca8h at bank
766 938
600 933
1.367 871
766.938
600.933
1367 871
Debt
Debts talling due within 1 year
Debts falling due after 1 ye8r
11.3721
86 9321
11441
11.5161
85.4161
88,3041
Total
602.305
1280,939
The notes form part ol these financial statements
Page 19

ELEANOR PALMER TRUST
Notes to the Flnanclal Statemènts
for the Year Ended 31 March 2025
ACCOUNTING POLICIES
Basis of preparlng the flnanclal statements
The financial stalemonls of th8 Charity, which is a public benefit enlily under FRS 102. have been
prepared in accordance with the Charities SORP IFRS 1021 'Accounling and Reporting by Charities..
Slalemenl of Recommended Practice applicable lo charities prepallng their accounts in accordance
with the Financial Reporting Standard applicable in the UK and Republic of Ireland {FRS 1021
leffeclwe 1 January 2019>,, Financial Reporting Stsndard 102 'The Financial Reporting Standard
applicable in the UK and Republic of Ireland, and the Charities Act 2011. The accounts comply with
the Charities Act 2011. the Housing and Reguneralion Act 2008 and the Accounting Direclton for
Privat& Registered Providers of Social Housing in England 2019.
The financial slalemenls have been prepared under the historical cost convention, with the exception
of investments which are included al market value, as modified by the revaluation of certain assets.
Critical a¢¢ounting ludgempnts and kèy sources of ostimation uncertainty
The following are the critical judgements and key sour¢es of eslimalion uncertainly that the Board has
made in the process ol applyiny the charity's accounting ptslicies and that have the most signifi¢anl
effect on the amounts recognised in the financial slalemenls..
Identification of houslng property components
The charity accounts for ils expenditure on housing properties using component accounting. Under
compononl accounting, the housing property is divided into those major ¢omponenls which are
considered lo have subslanlially different useful economic lives. Judgement is used in allocating
property costs between Components {land, structure, kitchens, bathrooms elc) and in determining the
useful economic lives of each componenl.
Housing propety depreci81ion is calculated on a component by component basis. The idenlilication
of such components is a maller of judgement and may have a material Impact on the depre¢ialion
charge. The components selected are those which reflect how the major repairs lo the property ar8
managed.
Incom8
All incorlle is Tecognised in the Slalement of Financial Activities once the charity has enlitlemenl to the
funds, il is prc*able that the income will be received and the amount can b$ measured reliably,
Income from housing repr&senls housing contributions by way of maintenance charg6s from
residents.
Investment income is earned through holding assets for investment purposes such as shares. 11
iTrclud6d dividends and interest. Where il is not pra¢lical lo identify inveslmtsnt management costs
incurred within a s¢heme with reasonabl8 accuracy the investment incom8 is reported nel of these
costs.
11 is in¢lude¢J when the amount can be measured reliably. Interest income is recognised
using the effective illleresl method and dividend income is recoanised as the charity's right to recewe
payment is established.
Social Housing Capital grants are recognised only when receivable. or in the period in which a
8ch&me is complelod and where thè arnounl of the grant has been determined. Grants ale reflecl&d in
the reslricled Housing Fund with dèpreciation on grant funded assets reducing this fund.
Expenditure
Liabilities are re￿gnISed as expenditure as soon as there is a regal or conslruclive obligation
commilling the charity lo that expenditure, il is probable that a transfer of econDmic benefits will be
required in settlement and the amount of Ihe obligation can be mèasufftd reliably. Expenditure is
accounted for on an a¢cruals basis and has been classified under headings that aggregate all cost
rèlated lo the category. Where costs cannot be directly allribuled lo particular htradings they have
been allocalad lo odivilies on a basis consislenl with the use of resources. Irrecoverable VAT is
charged as a cost against the activity for which the expendlcure was incutred.
Page 20
Dnbnued...

ELEANOR PALMER TRUST
Notes to th• Flnan¢lal 5tatement$ . continuèd
for th8 Yemr Ended 31 March 2025
ACCOUNTING POLICIES . contlnued
Tangible fixed assets
Housing properties are slated al depre¢tated cost. The cost ol completed housing properties is
depreciated over the life of the properties. Properties are accounted for on a component Cost basis
with each component being depreciated over ils estimated economic life. The principal components
identified and the depreciation rale applied lo each component are sel out below..
Housing properties structure
Roofs
Boilers
Kitchens
Bathrooms
Windows and doors
Electrics
2%
20°
100A
100
10¢/
10QA
The Charity ¢8pilalises expenditure on housing properties which increases the nel rental stream over
the life of the property. An increase in the nel rental stream may arise through an increase in renlal
income. a rédu¢lion in future Maintenan￿ costs or a significant extension of the life of the property.
Depraciation on other assets has been provided in order to wrf(e off the Cost over its expected useful
life on 8 slraighl line basis al the following rates.,
Fixtures and fillings
Motor vehicles
25%
Investment property
Investment property is shown al most recent valuation. Any aggregate surplus or deficit arisino from
changes in fair value is recognised in the Slalemenl of Financial Aclivilies.
Investments
Investments are a form of basic financial investment and are initially recognised al their transaction
value and subsequently measured at fair value as at the balance sheet date using the closing quoted
market price. The slalemenl of financial activities includes the net gains and losses arising on
revgluations and disposals throughout Ihe year.
Realised gains and losses on investments are calculated 8$ the difference between sales proceods
and their opening carrying value or their purchase value if acquired subsequent lo the first day of the
financi81 year. Unrealised gains and 1os888 are calculated as the difference between the fair value al
the year end and their carrying value.
Taxatlon
The charity is exempt from tax on ils charitable activities.
Fund accounting
Unrestricted funds can be usgd in accordance with the charitabl8 objectives at Ihe discretion of the
trustees.
Reslricled funds can only be used for particular restricted purposes within the objects of the charity.
Restrictions arise when speCif￿d by the donor or when funds are raisod for particular restricted
purposes.
Further explanalion of the nature and purpose of each fund is included in the notes lo the financÉal
$18lemenls.
Debtors
Trad8 and other debtors are recognised al the seltlernenl amount due after any trade discount
offered. Prepayments are valued al the amount prepaid nel of any trade discounts due.
Page 21
cont4nu8d...

EL&4NOR PALMER TRUST
Nole5 to the Flnancial Statemènts - contlnued
forth& Year Ended 31 March 2026
ACCOUNTING POLICIES- contlnued
Creditors
Creditors are recognised where the charity has a pres8nl obligation resulting from a past event that
will probably result in the transfer of funds to a third party and th8 amount due lo sellle the obligation
can be measured or estimated reliably Creditors are normally recognised at their sottlemenl amount
after allowing for any trade discounts due.
Financial Instruments
The ¢hariLy only has financial assets and financial liabilities of a kind that qualrfy as basic financial
inslrumenls. Basic financial instruments are initially recognised al transaction value and subsequently
measured al their settlement valu@ with the exception of bank loans which are subsequently
measured al amortised cost using the effeclive interest method.
Going concèrn
The financial slalemenls have b8en prepared on a going concern basis as the Trustees believe that
no material un¢ertainlies exist relating lo &venls or conditions that may cast significant doubl on the
ability of the charity lo continue as a going Concern, The Tnjslees have concluded that the charity
has adequate resources lo continu& in oper81ional existen￿ for al least 12 months from
aulhorising these financial slalemenls.
DONATIONS AND LEGACIES
2025
2024
as restated
Donatlons
2,915
OTHER TRADING ACTIVITIES
2025
2024
as re$laled
Rents received
Other trading activities
27.900
30,558
1,050
31,608
INVESTMENT INCOME
2025
2024
as rèslaled
Rents received
Other fixed asset invest Fll
Deposit account interest
39,900
29S,044
16,611
39,900
304,382
10,094
354 376
Page 22
continued...

ELEANOR PALMER TRUST
Noteg to the Flnan¢lal Statement8 - continuod
for the Year Ended 31 March 2025
INCOME FROM CHARITABLE ACTIVITIES
2025
2024
as reslaled
Activity
Maintenance charges
Almshouses
Mainlen&n¢e charge voids Almshouses
Residents fee income
Care Home
R8sidenls voids
Care Home
1,027,406
111,4881
2,443.143
80.040)
961,942
118,1921
2,369,137
34,7621
3 379.021
3,278,125
SOCIAL HOUSING ACTIVITIES
2025
2024
as
reslaled
Turnover from Social Housin9
Operating costs of Social Housing
1,015,918
943,750
Operaling sUrplu￿1defiCit) on Social Housing aclivilies
235181
RAISING FUNDS
Raising donations and legacles
2025
2024
as rostaled
Shop repairs & maintenance
Investment management costs
S27
26,877
26,877
CHARITABLE ACTIVITIES COSTS
Support
costs Isee
Trote 81
Dirocl
Costs
Totals
Almshousgs
Care Home
628,235
2 104916
185,953
219,983
794,188
2 324,899
2733,151
385 936
3119087
Paoe 23
¢ontsnued..

ELEANOR PALMER TRUST
Notos to the Flnan¢lal Statements . contlnued
for the Year Ended 31 March 2025
SUPPORT COSTS
GoverEFance
Costs
ManagBrnEnl
Fina[￿8
Totals
Almshouses
Care Home
147.675
195,754
4,545
13,733
18,205
165,953
219,983
10.569
385,936
Activity
Manag@menl
Finance
Governance costs
Basis of allocalion
Based on staff lime
Based on staff time
Based on staff tim8
AUDITORS, REMUNERATION
2025
2024
as reslaled
Fees payable lo the charity's auditors for the audit of the charty's
financial slalemenls
Fees payablÈ lo the charity's auditors for other services..
Under provision for prior year
11,850
1e,865
Total audk fees
26.730
16,865
Other non-audil services
5.208
Tol?1 fees payable
10. TRUSTEES. REMUNERATION AND BENEFITS
There were no Iru81ees' remuneration or other benefits for th8 year ended 31 March 2025 nor for the
year ended 31 March 2024.
Trust8es' expenses
There were no trustees. expenses paid for the year ended 31 March 2025 nor for th6 year ended
31 March 2024.
Pags 24
conbnued...

ELEANOR PALMER TRUST
Note$ to th? Finan¢lal Slatemonts . contlnued
for the Year Endèd 31 March 2025
11. STAFF COSTS
2025
2024
as restated
Wag8s and salaries
1591439
1 338,275
1 591 A39
1,338 275
The average monthly number of employees during the year was as follows:
2025
2024
as re51ated
47
Average number of employees
53
The numbèr of employe&8 whose employee benefi￿ (excluding employer pension costs) exceeded
£60,000 was..
2025
2024
as restated
£60,001 - £70,000
£70,OD1- £80,000
£80,001 £90,000
12. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
Unrestricted
frjnds
Reslriclad
fund
Total
funds
as reslaled
INCOME AND ENDOWMENTS FROM
Donations and legacies
2,915
2,915
Charitable actlvltles
Almshouses
Care Home
943,750
2,334,375
943.750
2,334,375
othèr trading activilt8S
Inveslrnent income
31,608
354,376
31,608
354,376
Total
3,667.024
3,667,024
EXPENDITURE ON
Raising funds
26,877
26.877
Charltablg aclivitles
Almshouses
Care Homtr
893.042
2 257,670
60,425
953,467
2,257,670
Total
3.177,589
60,425
3,238,014
PagÉ 25
continued...

ELEANOR PALMER TRUST
Notès to the Flnanclal Ststements - ¢ontlnued
for th8 Year Ended 31 March 2025
12. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued
UnrÈstricled
Restricted
fund5
lund
Totsl
fttnds
as reslaled
Net gains on inveslm8nls
519 943
519943
NET INCOMEIIEXPENDITUREI
1,009,378
180.4251
948.953
RECONCILIATION OF FUNDS
Total funds brought fomard
12,604,564
3,951,516 16,556.08D
TOTAL FUNDS CARRIED FORWARD
13,613 942
3 891,091 17 505,033
13. PRIOR YEAR ADJUSTMENT
As a registered providsr of social housing. Eleanor Palmer Trust have previoLJsly adhered lo the
Housing Slalemenl of Recommended Piaclic& ISORPI. Following the introduction of section 1.6 of
the Housing SORP 2019, which clarifies that Almshouse Charities musl adtspl the Chaiilies SORP in
th8 preparation of ils financial stalemenls, piovided this does not conflict with 8ny applicable legal or
regu1810ry requiremenls that musl be adhered lo, these financial slalemÈnts have been reslaled lo
comply with the Charities SORP IFRS 1021 'AccoLtnling and Reporting by Charities.. Statement of
Recommended Practice appli¢able to charllies preparing their accounts in accordance wilh the
Financial Reporting Standard applicabl8 in the UK an(J Republic of Ireland IFRS 102} {effectwe I
January 20191,.
The impact Df the reslalemenl of the financial statements under the Charities SORP is as follows..
At 1st ApTiI 2023
As Previously
Stated
Adjustment
As Restatod
Fixed ass81s
16,958,766
16,958,766
Current assets
848,710
848,710
Creditors due within one year
Cr8dilors due in more than one yèar
1275,9361
60,425
{215,5111
3.917,598
3,830,666
86 9321
13 613,942
17 505,033
UnreStr￿ted Funds
Restr￿ted Funds
13,613,942
13,613,942
3,891,091
{3,891,0911
13613,942
17 505,033
The adjuslrlleNI rele¢ls the recognition of the Social Housing Grant as In￿me during the year in
which the Charity received the right lo the grant in restricted funds amounling lo £6,042,458. nel of
accumulated depreciation of £2,090,942.
Page 26
conbnued...

ELEANOR PALMER TRUST
Notes to thè Flnancial Statemènts - contlnu•d
for the Year Ende(131 March 2025
13.
PRIOR YEAR AOJUSTMENT . continued
During the year ended 31st March 202d the following ?djustments were made".
2024
Surplus for the year as Previously reported
Reversal of amortisation of social housing giant
1,009,378
0 4251
As reslaled
948,953
Depreciation of £60,425 was charged lo reslricled funds in the year resulting in a Glosing balance on
restricted funds al 31 March 2024 of £3,891,091.
14. UNITS IN MANAGEMENT
The chaTlty had 78 units in management relating to almshouses duiing the year. 12024.. 781.
The charity had 34 units in management relating lo the care home during the year.12024.. 34).
15. SOCIAL HOUSING GRANT
The total Social Housing Grant received by the Eleanor Palmer Trust as al 31st March 2025
amounted ID £6,042,45812024'. £6,042,458).
The full Capilal Grant would on5y be¢ome repayable if the Almshouses were disposed of and the grant
was not recycled.
Aggregate amotjnt received
Al 31 sl MaTch 2025 and 3181 March 2024
6,042 458
Roleased lo Stalemenl of Financial Activities
At 31st March 2025 and 31st Ma￿h 2024
6 042,4581
Social Housing Grant Carried forward
Page 27
c0n1in￿ed...

ELEANOR PALMER TRLIST
Notes to th8 Flnaneial Statem•nts - continued
for the Y•ar Ended 31 Maich 202S
16. TANGIBLE FIXED ASSETS
Flxtures
and
Housing
pmperties
Motor
vehiefe3
Totals
COST
Al 1 April 2024
Additions
9,063,225
153 515
364,672
29,994
26,SSO
9,454.447
183 509
At 31 March 2025
9 216.740
9 637,956
DEPRECIATION
Al 1 April 2024
Charge for year
2,340,786
154073
291,160
26.549
2,658,495
176061
Al 31 March 2025
2 494 859
313,148
2 834 556
NET BOOK VALUE
Al 31 March 2025
6.721 881
6 803,400
Al 31 March 2024
6 722,439
73,512
6,795,952
17. FIXED ASSET INVESTMENTS
2026
2024
as reslaled
Shares
Other
9,281,049
184.033
9,481,415
66 400
9 465 082
9547 815
Additional information as follows:
Listed
investments
MARKET VALUE
Al 1 April 2024
Additions
Disposals
Revaluations
Reclassificalionltransfer
9,481,415
706,059
1791,135)
84.710
200.0001
Al 31 March 2025
9281 049
NET BOOK VALUE
Al 31 March 2025
9 281,049
At 31 March 2024
9,481415
There were no inveslmenl assels outside the UK.
Page 28
conlinu8d...

ELEANOR PALMER TRUST
Notes to the Flnancbal Statem•nts - continuod
for tho Yèar End8d 31 March 2026
17. FIXED ASSET INVESTMENTS - continued
Cost or valuation al 31 M8rch 2025 is represented by..
Listsd
Inv•stment8
Valuation in 2025
9 281049
Investments (neither listed nor unlisted) were as follows,.
2025
2024
as reslalgd
Cash hald by investment Man￿eT
18. INVESTMEMf PROPERTY
FAIR VALUE
Al 1 April 2024
and 31 March 2025
615000
NET BOOK VALUE
At 31 March 2025
615.000
Al 31 March 2024
615,000
The investment property was valued on an open market basis by Julian Lewis & Co, Chartered
Surveyors, in 2022. The valuation was not materially different lo the previous valuation in 2017.
Therefore, the value in the 8c¢ounts has not been adjusted. The Board is of the opinion that the
current value is not materially different from the last professional valuation.
19. DEBTORS: AMOUNTS FALUNG DUE WITHIN ONE YEAR
2025
2024
as reslal
Trade debtors
Other debtors
Prepayments and accrued incDMe
82,009
43.950
47,S19
11.145
81,772
Pagè 29
¢ontsnu8d...

ELEANOR PALMER TRUST
Note$ to the Flnanclal Statsments . continued
for thè Yèar Ended 31 March 2025
CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2026
2024
as reslaled
Twad8 creditors
Taxation and social security
Other creditors
93,634
146,419
29,448
39,645
169.S43
215 512
21. CREDITORS.. AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2025
2024
as reslaled
Other creditors
85,416
86,932
22. LOANS
An analysis of the malurily of loans is given below..
2026
2024
as reslaled
Amounts falling due within one year on demand..
Housing loan
1.516
Amounts falling betwe@n one and two years..
Housing h)an 1-2 years
Amounts falling due belween two and fme years.,
Housing loan 2-5 years
6,161
11,424
Amounts fallinu due in more than five years..
Repayable by inslalmenls:
Housing loan over 5 years
77,579
72.315
The housing 108n is seculed by a specific charge on a number of the Trust's housing properties and is
repayable al a rale of interest of 10.250A.
P8ge 30
eontinued...

ELEANOR PALMER TRUST
Notss to thè Flnanclal Ststèm8nt8 - contlnuod
lor tho Y•ar Ended 31 March 2025
23. MOVEMENT IN FUNDS
Prior
year
adjustment
Net
mowment
in funds
Al
31.3.25
At 1.4.24
Unrestrlcted funds
General fund
Endowment Fund
5.416,080
8,197,862
870,165
41.727
6,086,245
8 239,589
13,613,942
711,892 14,325,834
Restrlcted funds
Housing
3,891.091
160,4251
3,830,666
TOTAL FUNDS
13613942
3 891.091
651467 18 156.500
Nel movement in funds, included in the above are as follows..
Incomlng
resources
Resources
expended
Gains and
losse
MovèM￿L
in funds
Unrestricted fund$
General fund
Endowment Fund
3.763,012
13,097,802)
4,955
670,165
3.763,012
13,097,802)
48.682
711,892
Restricted funds
Housing
60,425)
160,425}
TOTAL FUNDS
3763 012
3 158 2271
651,467
Comparatives tor movement in funds
N8t
movement
in funds
At
31.3,24
At 1.4.23
Unrestrlcted funds
General fund
Endowment Fund
4,903,023
7 701.541
513.057
496.321
5,416,080
8,197.862
12,604.564
1,009,378 13,613,942
Restrlcted funds
Housing
3,951,516
(60,4251
3,891,091
TOTAL FUNDS
16,556,080
948 953 17,505,033
Pag6 31
continued..-

ELEANOR PALMER TRUST
Note$ to th? Financlal Statements . ¢ontinu8d
for tho Year Ended 31 March 2025
23.
MOVEMENT IN FUNDS- contlnuad
Comparativé nel moverrEnl in funds, included in the above are as foliows..
Incorning
resources
Rasources
expended
Gains and
losses
Movement
in fuFKfs
Unrestrlcted fund8
General fund
Endowment Fund
3,667,024
{3,177,5891
23,622
496 321
513,057
496.321
3.667,024
Restricted funds
Housing
(3,177,589)
519,943
1.009,378
160.42S)
160,425)
TOTAL FUNDS
3,667 024
3,238 014
519.943
948 953
Endowmont Fund
The endowment fund is derived from the sale of Somè of the properties on the Kentish Town eslale in
1982.
Houslng Fund
This represents the social housing grant received from the Housing Corporation for property
improvements lo the Almshouses. Depreciation on housing prop@rties is charged lo this fund over the
lif& of the components of the building.
24. RELATED PARTY DISCLOSURES
There were no related party transactions for the year end8d 31 March 2025.
25. ULTIMATE CONTROLLING PARTY
A corporate Irusleo was appointed as trustee of Eleanor Palmer Trust on 22 May 2015. Th8 Eleanor
Palmer Trustee Limited, a charitable company (company number 094404941.
Page 32