DRAYfoN PAROCHIAL CHARITIES
ACCOUNTS
FOR THE YEAR ENDED 31 DECEMBER 2024
REGISTERED CHARITY NO: 221225

DRAYfoN PAROCHIAL CHARITIES
INDEX TO THE ACCOUNTS
FOR THE YEAR ENDED 31 DECEMBER 2024
Pages
1-2 Report of the Trustees
3 Independent Examiners Report
4 Re￿IPtS and Payments Account
5 Re￿Ipts and Payments (Non Housing Adivrty)
6 Statement of Assets and knabilities
7-12 Notes to the Accounts

DRAYfoN PAROCHIAL CHARITIES
REPORT OF THE TRUSTEES
YEAR ENDED 31 DECEMBER 2024
The Trustees have pleasure in presenting their report and accounts for the year ended 31
December 2024
Activities
Drayton Parochial Charities was established on 5 December 1977 under the Charities Act
1960.
The deed joined the charity of Robert Comeville and four chanties administered together as
the Drayton Almshouse Charity. The deed stated that the income of the charity of Robert
Corneville is to be applied by the trustees for any charitable purposes for the general benefit of
the inhabitants of the Parish of Drayton for whith provision is not made out of council tax,
taxes or other public funds. The income of the Drayton Amshouse Charty is to be applied by
the trustees for the benefit of the charTty.
Review of the
Dra
on Almshouse Chari
With the exception of a few weeks at the beginning of the year v4hen one property was
Un0￿Up1ed. all of the Almshouses were occupied throughout the year.
We ￿ntInued to subscribe to The Amshouse Assooation and Independent Housing
Ombudsman Limited.
We renewed the cOn￿SsiOnary li￿nce for those benefioaries covered.
Extraordina
ir Fund
The Extarordinary Repair Fund (ERF) is invested with Blackrock. Charities UK Bond Fund and
Charities Equity Fund {formerly Charinco and Channshare investments). The income is
ar£umulated, and 2024 Accounts include the accumulated income for that year. The income
has been added to the original cost of the investments as per note 7.
Robert Comevllle Chari
A grant made to Abingdon Bndge with a further commrtment for 2024125
Public Bonefrt
The trustees confirm that they have had due regard to the guidan￿ published by the Charty
Commission on public benefit.
Page I

DRAYfoN PAROCHIAL CHARITIES
REPORT OF THE TRUSTEES (CONTINUED)
YEAR ENDED 31 DECEMBER 2024
Trustees, Res
onsibilities
Registered social housing legislation requires the Trustees to prepare financial statements for each
financial year which give a true and fair view of the state of affairs of the Registered Social Landlord
as at the balance sheet date and of the surplus or defictt for that period. In preparing these financial
statements the Truste8s are required to .'
- Select suitable accounting policies and then apply them consistently;
Make judgements and estimates that are reasonable and prudent.
State whether applicable accounting standards have been follow￿, subject to any material
departures disclosed and explained in the financial statements-
Prepare the financial statements on a going cOn￿M basis unless it is inappropriate to presume
that the Reqistered Social Landlord will continue in business.
The Trustees are responsible for keeping proper accounting records which disclose with reasonable
accuracy at any time the financial posthon of the Registered Social Landlord and enable it to ensure
that the financial statements comply with Sthedub 1 to the Housing Art 1996, the Accounting
Requirements for Registered Soaal Landlords General Detemiination 2006 and the Statement of
Recomrnended Practice 'Accounting by Registered Social Landlords,. It has general responsibility
for taking reasonable steps to safeguard the assets of the Registered Social Landlord and to
prevènt and detect fraud and other irregularities.
Bankers
Barclays Bank plc
Abingdon
Oxon
Trustees
The Trustees during the year were:
Mr Roy Marshall - Chair
Mrs Lorraine Lee - Treasurer
Mrs Sharon Rosher- Secretary
Kirsty Hodder
Helen Kendrick
BY ORDER OF THE TRUSTEES
L Lee- Treasurer
Page2

INDEPENDENT EXAMINER'S REPORT
TO THE TRUSTEES OF DRAYtON PAROCHIAL CHARITIES
ON THE ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2024
CHARrrY NUMBER 221225
Respg¢tivo responsibilities of trustees and examiner
The Gharity's trustees are responsible for the preparation of the accounts in accordance
with the Charities Act 2011 {'the Acr).
The charity's trustees consider that an audti is not required for this year under seth.on 144
of the Act and that an independent examinatDn is needed.
It Is my responsibilty to:
examine the accourts under section 145 of the Charities Act,
to follow the appliGable Directions given by the Charity Commission
(under sedion 145{5}Ib) of the Act. and
to state whether particular matter5 have come to my attention
Basis of independent examinerfs statement
My examination was Carried out in accordance with general Directions given by the Charity
Commission. An examination includes a review of the accounting records kept by the charity
and a cornparison of the accounts presented wtth those records. It also includes consideration of
any unusual items or disclosures in the accounts, and seekiro expk3nations from Ihe trustees
con￿mIng any such matters. The procedures undertaken do not provide all the evidence that
would be required in an audit, and consequently no opinion is given as to whether the accounts
present a 'true and fairf view and the report is limited to those matters set out in the statement
below.
Independent examinerfs statsrnent
In connection with my examination. no material matters have come to my attention whiGh gives
me cause to believe that in. any material respect:
the accounting records were not kept in a¢¢ordance with seGtion 130 of the Charrties Act,. or
the accounts did not accord vrith the accounting records, or
the accounts did not Comply with the applicable requirements conceming Ihe form and
content of accounts set out in the Charibes (Accounts and Reports) Regulations 2008 other than
any requirement that the accounts give a Irue and fairf view which is not a matter ￿nsidered
as part of an indèpèndent examination.
I have no cOn￿M$ and have come across no other matters in connection with the examination to
which attention should be dravm in this report in order to enable a proper understanding of the
. accounts to be reached.
Signed
Retired AGwuntant
Name
Mrs L A Jones
Address
7 Newman Lane
Drayton
Abingdon OX14 4LP
Page 3

DRAYTON PAROCHIAL CHARITIES
RECEIPTS AND PAYMENTS ACCOUNT
FOR THE YEAR ENDED 31 DECEMBER 2024
Note
2024
2023
TURNOVER From Lettings
Contributions receivable from occupants of
Almshouses
33,422
33.943
For the year ended 31 December 2023
33,422
33,943
Operatlng Costs
Water Rates
Management Expenses
Repairs Major Works
Current cyclical repairs and maintenance
921
2,497
12,168
9,194
656
1. 779
3,933
3.828
f 0, 196
OPERATING SURPLUS
Conts'nuing operations
8,642
23.T47
Interest receivable and similar income
1.882
1.390
Accumulated Income on Investments
Blackrock Chanbes UK Bond Fund Acc Unts
Blackrock Charities UK Equity Fund Acc Units
1,7e6
5.769
1.655
5,514
7,534
7,169
Interest payable and similar charges
SURPLUS ON ORDINARY ACTIVITIES
2,020
16,038
(2.054)
30,252
Transfer to designated reserves
Transfer to Extraordinary Repair Fund
Transfer to Robert Comeville Charty
(1,882)
(7,5341
(122)
(1.390)
(7. 169)
(89J
11
12
6,5CK)
21,604
Revenue reseNe brought foNRrd
179,466
157.862
Revenue reserve Garried forward
185,966
179,466
There ar& no recognised surpluses or deficrts other than the surplus for the year.
The at)ove surplus is the historical cost surplus.
Page 4

DRAYfoN PAROCHIAL CHARITIES
RECEIPTS AND PAYMENTS ACCOUNT
NON HOUSING ACTIVITIES
FOR THE YEAR ENDED 31 DECEMBER 2024
Note
2024
2023
Extraordrn
air Fund
Dividends on investments
Charities UK Bond Fund (fomierty Channco)
Chartties Equity Fund {formerly Charinshare)
1,766
5,769
1,655
5,514
Net Surplus for the year
11
7,534
7,169
Comeville Chari
2024
2023
Dividends on inveslments
Charrttes UK Bond Fund {formerly Channco)
Charities Equity Fund Iformedy Charinshare)
186
1.927
186
7,839
2.113
2.025
Interest on bank ordinary deposit and capital reserve accounts
782
595
2.895
2,620
Less
Grants
Withdrawn in error
Management Expenses
1,600
200
122
8t)0
{ 1,922)
68
{ 868)
973
1,752
Transfer from Re￿iptS and Payments Account
122
68
Net Surplus for thè year
12
1,095
1,820
Page 5

DRAYTON PAROCHIAL CHARITIES
STATEMENT OF ASSETS AND LIABILITIES AS AT 31 DECEMBER 2024
2024
2023
FIXED ASSETS
Tangible assets
Housing Properb'es
Less Housing Asscoation Grant
110,174
110,174
89.4C)O
20,TT4
10
20.774
Invostm•nts
Repair Fund
164,538
14,707 179.245
157,004
14,707 171,711
200,019
192,485
CURRENT ASSETS
Cash at Barsk
Community
Deposit {Cyclical Provision)
Deposit {Comeville Chantyl
Cash in Hand
5nsurance conlribubon
Almshouse overpaid wmc
62.606
44,888
16332
15
113,000)
214
110.527
S23
48,990
37,007
15,137
101,134
284
LIABILITIES: Amounts fall¥ng du• withln ¢)M y•ar
NET CURRENT ASSETS
TOTAL ASSETS LESS CURRENT LIABILrriES
100 850
293.335
310,023
LIABILITIES: Amounts falling due after more
than om yèar
10
114,5641
{ 74.887)
NET ASSETS
278 448
CAPITAL AND RESERVES
Designated Reserves
Revenue reserve - housing activi￿5
Speaal Reserve- non housing activities
11
79.176
185.966
69, 760
7 79,466
29.222
278 448
12
Approved and authorised by the Trustees on
Mrs L L* -Trea5urer
Mr R Marshall- Chair
Miss S Rosher- se¢￿tary
on behatf of the trustees
Page 6

DRAYTON PAROCHIAL CHARITIES
REPORT OF THE TRUSTEES {CONTINUED)
YEAR ENDED 31 DECEMBER 2024
Accountin
Policies
(al Introduction and Accounting Basis
The principal accounting polictes of the Association are set out in paragraphs (b) to ts") below.
These accounts are prepared under the historical cost convention. are based on the Housing
Corporation's Statement of Recommended Praclice for Registered Social Landlords and comply
with the Accounting Requirements for Registered Social Landlords General Determination 2006.
The ex8mption from preparing a Cash Flow Statement to comply wtth FRS1 has been used on thè
grounds that the chanty is a small charty.
(b) Finance
The accounts have been prepared on the basis that the ca￿tal expenditure referred to in note 6 will
be grant aided, funded by loan or met out of reseries. There vms no addrtional Capital Expenditure
this year.
(¢1 Mortgages
Mortgage loans are advanced by the Housing corporab.on under the terms of a mortgage deed in
respect of a housing scheme.
Advances are available only in respect of a development which has been given approval for housing
association grant.
Id) Houslng Assoclation Grant (HAG)
The above grant made by the Department of the Environrnent is utilised to reduce the amount of
mortgage loan in respect of an approved scheme to the amount which tl is estimated can be
serviced by the costs of the scheme in accordan￿ with instructions issued from time to time by the
Department of the Environment. The grants are paid directly to the Housing Corpofation being the
lending authority and are reflected in the accourts of the Associab'on only when payment has been
made and the relevant mortgage loan reduced.
(e} Housing Association Grant- Acquisition and Development Allowances Receivable
The above allowances are detemiined by the Department of Environment and are advanced as
mortgage loans. They are to finan￿ ￿rtain intemal administrative costs relating to the acquisition
and development of housing land and buildings for approved schemes. Amounts equal to these
allowances are added to housing land and buildings aThJ a￿ feleased to income and expenditure
account when they are receNable.
(fj Fixed Assets - Housing Land and Buildings
Housing properties are stated at cost. The development cost of housing properties includes the
following-_
Developmerrt expenditure
Interest charged on the mortgage loans raised to finance the s¢héme
(iii) Amounts equal to acqui8ition and development allowances recèivable.
Page 7

DRA￿oN PAROCHIAL CHARMES
REPORT OF THE TRUSTEES (CONTINUED
YEAR ENDED 31 DECEMBER 2024
Accountin
Pollcies
continued
(fj Fixed Assets- Housing Land and Buildings (continued)
These costs are etther tenned °Qualfying costs. by the Department of the Environment for an
approved housing association grant scheme and are considered for mortgage loans by the
Housing Corporation or are met out of the Association's Reserves.
All invol￿S ￿lating to capitsl expenditure artsing in the year for bthich mortgage advances
have been receNed in the year have been included.
Interest on the mortgage loan financing the development is capitalised up to the relevant date
of the interim HAG application. Interest on the residual mortgage loan after this date is
charged to income and expenditure account. Interest on advan￿$ made after the interim HAG
application are capitalised up to the final relevant date of the scheme. Interim and final relevant
dates are determined by the Department of the Environment in accordance wth guKlelines laid
down in circulars.
(g) Depreciation- Housing Land and Buildings
Freehold property is not depreciated on the basis that tt is maintained in a satisfactory state of
repair and th8 relevant cost of repair is tharged to the income and expenditure account.
The freehold property has been assessed to have a high residual value and as such any
depreciation tharge would not be rnalerial.
{h) Provision for Futurn Cyclical Repaira and Malntenance
The provision reflects the Asswation's liabilty to maintain its properties in accordar￿e with a
planned programme of works. Decorating is planned to take place every five years or when a
property is va¢aled if eariiw.
{il Special ReseThe {Non-Housing Activltles)
The special reseNe arises from the income of the Comeville Chartty and the funds in the
reserve are only available for charitable purposes for the general benefit of the inhabrtants of
the Parish of Drayion for which provision is not made out of coun￿1 tax, taxes or other publi
funds
U) Apportionment of Management Expenses
Administration and operating costs are allocated 90% to income and expenditure account
(housing activities) in respect of the costs relating to the management and maintenance of
housin9 accommodation for letting. and 100/0 to the Comeville Charity.
Pa8e 8

D￿yTON PAR
HIAL CHARITIES
)TES TO THE ACCOUNTS
copiriNUED
FOR THE YEAR ENDEO 31 DECEMBER 2024
2 Turnover, and Operating Surpl
2024
2023
Soci81 hO￿l￿J ￿￿nCI￿ats.on
Tumovar
13.422
33.943
Operating C05tS
(24,7￿)
(10.210)
Or¢ratt"ng Surplus
8,642
23.733
Interest receivabb and smilar incxjme
Accumulated investrnent IrKome
7.169
Inte￿$t pay8bla aThJ sinwL3r charges
{ 2,020}
(2.085)
ID8fiutySurplus forthe year
16038
0￿ratIng ¢08ts from lettingB
Housing ac¢ornodation16 Unltsl
Water Services arKI Council Tax
Major Works Expenses
Managemenl Expenses (see TrJte 31
Current cyclical rep8ir5 and maint8riance
921
12.168
2.497
9.194
24.780
3.733
1.779
4.028
10,196
3 Managgmont EX￿nI•S
Tolil
Admkn
Z4
23
E8tat• Costs
Insuran
Garden MairtenarKe
ghling and
939
1,270
1.005
1,270
100
305
Repai[5 and ktaintenarte
Repair5 Maiorworks
Cydical
933
12,168
12.168
2, 743
Office Overt)ead8
Conf6renc8S
Subscnpbons
Sundries
Legal aNJ PrOfe￿I￿n81
524
967
18
468
939
7,￿24 12,168
1.270
23,9
5,721
Apporbwnent Offinan￿ aThJ
admirr5tr8bw exponditure
122 11,6801
Total Expendth
7924 12 168
23 980 5 721
Pa￿9

DRAYfoN PAROCHIAL CHARITIES
NOTES TO THE ACCOUNTS
CONTINUED
FOR THE YEAR ENDED 31 DECEMBER 2024
4 Employèes. Payments to Trustees and Officers
There were no employees, and the only transactions wth Trustees were the reimbursement
of expenses incurred in the nomial day to day running of the chanty.
5 Houslng Stock
The number of units of housing accomodation in management at 31 December 2024
Units in Management
2024
2023
Housing accomodation for lettirvJ
6 Fixed Assets-Housing Land and Buildings
2024
2023
Cost
At the beginning of the year
110,174 110,174
At the end of the year
110174 110174
Note.. No cost is included for the land refe￿ed to above and which was acquired many years
ago.
Page 10

DRAYTON PAROCHIAL CHARITIES
NOTES TO THE ACCOUNTS
CONTINUED
FOR THE YEAR ENDED 31 DECEMBER 2024
7 Investments- Extraordinary Repair Fund
Cost
Market Value
2024
2023
2024
2023
Blackrock Chanties UK Bond Fund (formedy Charin¢o)
929.991 {2023. 929.991) Accumulatson Sha￿$
Accumulated income
Investrnenl in year-
Balance as at 31 December 2￿24
51.210
1,766
47,805
1,655
1,750
51,210
42,874
43.038
BlaGkroGk Charibes UK Equity Fund {fomedy Charishare)
6417.18 (2023 6417 181 Accumulation Shares
Accumulated income
Investnment In year-
Balan￿ a5 at 31 De￿mber 2024
105.794
5,769
98,530
5.514
1,750
105.794
174,459 164,005
Total per Accounts as at 31 D¥kmber 2024
217 332 207 043
8 Investments- Comeville Charity
Cost
Market Value
2024
2023
2024
2023
Blackrock Charibes UK Bond Fund {fomety Charin¢o)
3.099.2412020. 3,099.241 Income Units
Blackrock Charits'es UK Equity Fund {fomiety Charisharel
7,600.568 {2021. 7.600.568) Income Units
4,394
4,597
14,707
14.707
14.707
56,913
61 308
55,368
59 965
9 Liabilities-amounts falling due within one year
2024
2023
Grant drawn not pah
Mortgage Orchardbrook PLC-now BCM Gh)bal
200
323
£523
284
284
10 Liabilities - Amounts falling dug aft8r more than one year
2024
2023
Houslng Loans
Loan repayable after on8 year advanced by
Mortgage Orchardbrook PLC-now BCM Global
Housing Loans
This is the baLgnce outstanding on the residual loan and rt is repayable by haw yea￿Y
annuities of principal and interest the last of which falL8 lo be pa#d on 31 March 2040.
The loan bears interest at 13.375Yo. This loan cannot be repahl eafly as ternis were
agreed suty'ect to the Chantys re￿p1 of a grant of £89.400 from the Housing Association.
The loan is secured by a fir51 legal charge over the propeTb"es concemed.
Page 11

DRAYfoN PAROCHIAL CHARITIES
NOTES TO THE ACCOUNTS
CONTINUED
FOR THE YEAR ENDED 31 DECEMBER 2Q24
11 Designated Reserves
ycllcal Repalr Extrnorthn*ry
& PAaint•nanix
Repalr Fund
Total
At 1 January 2024
4,960
64.800
69,760
Transfer from revenue reserve
1,882
7.534
9,416
At 31 Decemter 2024
6.842
72,334
79,176
The cyclical repair and maintenance fund and extraordinary repair fund reflect the
charitls liabilty to maintain rf(s properties in aw￿rdanCe wtti a planned programme of
works and proV￿e for possible large one off repairs.
12 Special Reserves - non housing activitles (charitable purposes}
2024
2023
At 1 January 2024
Income and expenditure account for the year
Transfer from revenue reserves
At 31 De￿Mter 2024
29.222
973
122
30.317
27,401
1.753
68
29,222
This reserve is the accumulated surplus of income of the Comeville Charrty
13 Drayton Parochial Charities was established on 5 December 1977 under the Charities
Act 1960.
The deed joined the charity of Robert Comeville and four Gharittes administered together as
the Drayton Almshouse Chanty. The deed stated that the income of the charity of Robert
Comeville is to be applied by the trustees for any charitable purposes for the general benefit
of the inhabitants of the Parish of Drayton for which provision is not made out of council tax,
taxes or other public funds. The income of the Drayton Almshouse Charity is to be applied by
the trustees for the benefrt of the chanty.
Page 12