COLTON'S HOSPITAL CHARITY FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 Reglslered Charf(y Number 221281 Charity CorThnission Scheme Dated 28 April 1980 Registered s(la1 Landlord number A3033 Fortus
COLTON'S HOSPITAL CHARITY INDEX PAGE TRUSTEES REPORT INDEPENDENT EXAMINER'S REPORT STATEMENT OF COMPREHENSIVE INCOME STATEMENT OF CHANGES IN FUNDS STATEMENT OF FINANCLAL POSITION STATEMENT OF CASH FLOWS NOTES TO THE FINANCIAL STATEMENTS 9-14
COLTON3 HOSPITAL CHARITY TRUSTEES REPORT FOR THE YEAR ENDED 31 DECEMBER 2024 REFERENCE AND ADMINISTRATIVE INFORMATION Charity numttsr 221281 Registered social landt)rd numbw: A3033 The Crk of the chariiy and thg principal offic•:. The bankets ofth8 chty e._ Mrs E Faiers 59 Windmill Lane Yo Y010 3LG CAF Bank Limited POBox289 West Malling ME194TA The investment maner$ of the charlty are:. CCLA Inv881m8nt Management Ltd Senator House 85 Queen Vicloria Sl London EC4V 4Er The indendent examiner of th8 is.'- F Howard Fortus Limited Equinox House Clifton Part( Avenue Shipton Road Yo Y030 SPA Managemgnt $tructubp The trustees of the charty are:. Dr M Tyler (Char) Ms D Boyle Mr8 E J Sinanan Mrs L E Wilkinson R8vereTrJ D S Bisby MsLACox Dr J Issiti IR85igned 09109r2024} STRUCTURE. GOVERNANCE AND MANAGEMENT The ch8rily was founded by Deeds of 10 and 11 Februwy 1717 and set up by the Charty Commisslon Stheme of 28 April 1980 as nended by resdution adopled 16 January 2011 to administer the almshcwses and investrnenls. Organl$ation Thetrustees e£Jnslst ofseven pw80ns. the majority ofwhom must be member5 ofTh8 St &2viourgate Unitarian Cha1 Charity. Others may be aPinted from the community local to the 8lmshousè$. In 2024, th8 trustees met lo limes in general meeting5 and In sla1 meetings a5 well as some eleclronlc ccynrnUntions in order to 8th1ner the Trusl. The charity is registered wrfh the Regulator of Soryal Housing is a m8mbgr of The Independent Houslng Ombudsman Stheme. The Trust is also a membèr of the National Almsh)use ABsallon.
COLTON'S HOSPITAL CHARITY TRUSTEES REPORT FOR THE YEAR ENDED 31 DECEMBER 20241Conilnued) OWECTIVES AND ACTlVtfiES Obfvcts of the charlty The ect oftha Tnjst is the proviston and maintenarKe of the 12 almshouges knovm as Cdton's Hospkal siluoted in Shipton Str8et. YLYk. The qualrfication for resdence is that an applicant should be a 'poor woman.. The Iruslees regu1)n5 at present state that applunl$ should be wJ8d 55 years or over. There are rKJ restrKti'orE in terms of religious affiliation or martial stsbJ$. Actl¥ltle$ of tho charfty The qualty of acrAJmmodation avali able to residents has been maintan8d at a hi standard with in porticular seNlce and maintenance agreaments in place for the gas cell1r heing systems, fires and electric showèrs. The twsle8s have undertaken an assessment and confirmed the trust's ts)mp1Ce wtth the governar an(1 fin¢•1 viabiliy sland*d. Investment pollcy The Irlee8 have crmsider8d the most appropriate polty inv8sknert funds and have found that s1011 un trusts, deS19r for the charity sector. meet their requirements to 98ngrate captsl growih. Public benefft Thg trustee5 confifm that th8y have referred to tha guidance contained in the Charity Commissicm's general guidan on public beneftt when rev9 the trust's awns and objectives and in exercising their powers or dutie8. ACHIEVEMENTS AND PERFORMANCE Overth8 pastyearth8 trustees have maint8in8d Iheir interest in the wElfare arKI need5 of the residents. The maln wo carried out during 2024 was the instsllation of PIV systems into 6 of the wopertEs to deal wrth ongoiThJ damp issues. and a CCTV system folbwiro soma anlisocial behaviour. Various thr wort( was carried oui as well as routi maintenance. VALUE FOR MONEY mRIcs This a rwuirement of the of Social Housing: 2024 2023 NHF. Reinvestmont New su social housin units New su Non-social housin Geari E81TDA MRI interest cover Headline sock?1 housin Oporating margln (social hwsing lettin ralin ma Retum on ca units 0.18 747 622 122 r unit 56 33 in overall lal em 56 18.5 'National figures provided by the National Houslng Fgderatlon- 2024 data
COLTON'S HOSPITAL CHARITY TRUSTEES REPORT FOR THE YEAR ENDED 31 DECEMBER 2W24 Iconlinued) FINANCIAL REVIEW The total comwehensfve inGrme for the year was £41.18512023.' ir8 £39.6241, contrtdrtions from residents has increased to £47,739 from £46.658. Repairs have decreased to £5,935 frtyn £19.739. Repairs 1rt1jed contwiu1j refijrbishment work. and various garden maiTrtenance, plumbing and heating k. The CL*renl level of fe reseryes is £64,04512023.. £53,461} after deducting designated funds fixed assets. Reserv8s are malnlalned in accl)rdae wiitri the rec(xnmendalics of The Almshouse AsSockg1i. Two funds are maintained.. la) The Extraordinary Repair Fund IERFI is f the purpose of meeting major items of repalr an(J is invested in accUmulatic and income untts of the COIF Charitie5 Investment Fund, and ethical inv8strnent fuTr acwmulalicn unrts. (bl The Cyclical ma1)tenan FuThJ {CMFI is for the purpose of meet9 maintenanc8 costs of a ular nalure otr than annual c(Ets and is h8hY on deposit Sn the COIF deposl acccunt and COIF ethical investment fund income uniis. Trustee's rnspon5ibillll•$ The trustees are responsible for preparing the report and financial statements irb accordance with applicable law and regulations. The regislered sooal housing18gislalion require the trustees to prepare financial statements for each financial year which give a true and fair view of th8 stale of affairs of the charity and of f(s income and expendrtur& for that period. In prep8riro the financial stalements the Irustee5 are required to:_ Select suitsble a¢coun¢ing policles aThJ apply thwn consi8tèndy', Make judgements and esllmates that are rgasonable prudent., SMe whethw applicable accountiThJ stsndards have been lolowed. subject lo any malorial departwes disclosed and explained in the finawal statements: and Prepare the financial stalem8nts on a going nCern basis unless it is inappropriate to presLThethatlhechar will continue in business. The trustees are resrK)nsible fN keerAng proFer accounting records which dlsclose wsth reasonabl8 accuracy 81 any timethe financial posrtion of the charity8n(J to enable lito gnsurethat the financial statem8rts compty with the Housing and Regeneration ACA 2008 and The Accounting Direction for private registered provklers of social housing in England 2022. They have general responsibility for taki re8sonable steps lo safeguard the assets ofthe charity aThJ detect frd aThJ other irregularilies. Approved by the tnjslees on 8 septernr 2025 and signed behaff of Ihe trustee5 Trustee Trustee
INDEPENDENT EXAfvINER'S REPORT TO THE TRUSTEES OF COLTON'S HosprrAL CHARITY YEAR ENDED 31 DECEMBER 2024 I report to the charty truste68 on my ex*ninatbn of the acD)unts of the charty fr)r the year ende(J 31 December 2024 which comprise the statement of comwehensive incorne. Statement of change in fLtrKls, statemert of financial positi¢)n, statem8nl of cash flows and relevant notes. Ro$pectiVO f•sponsibilrlies of th• trustees and T9plIng aGGounlants Thè trustees of the Registered Social Housing Provider are responsible for the preparation of the accounts. and they conswjer Ihal the Registered Social Housing Provider is exempt from an authl. It is our responsibility to carry out prOdureS designed lo enable us to p{t our opInn. 8a$l$ of opinion Our procedures cx)nsisled of comparing the accounts wih the accounting records kept by Registered Soci Housing Provider and making such enquiries of the officets of the Registered Social Housing Provider as we on5idered necessary for the purpose of thts report. The58 procedures provide th8 only assurance expressed in our opinlon. Oplnlon In our oplnion= the accounts for year ended 31 December 2024 are in accordance with the accounting records kept by the Registered S(Ki81 Houslng Provider under paragraph 13512)lal of the Hou$iThJ and Regenerdtlon Acl 2008,. having regard only to, and on basis of th& infomiatK)n contained in the accounting records: the accounts comply with the requirements of the Chariti&s Act 2011,. the Registered Social Housiro Provider has satisfied the conditions for exemption from an audit of the accounts forthe year ended 31 December2024 speGrfied in section 13613) of th8 Housing and Regenerth'on Act 2008., the accounts comply bviih the requirements of the Housing and Regen8ration Act 2008 the Accounting DIrti n for private registered provider5 of social housing in England 2023. F Howard Fortus Lwnited Equinox House Cllfton Parf< Aven Shiptcfi Ro&J York Y030 SPA Date: 8 September 2025
COLTON'S HOSPITAL CHARITY STATEMENT OF COMPREHENSIVE INCOME YEAR ENDED 310ECEMBER 2024 Note Year ended Year ended 31 D8mber 2024 31 December 2023 Turncw 47,739 46,658 OFerating expendbjre (21,2361 (34.055) Op•ratlng Surplu{doficit) 26,503 12,603 Interest rec8iV8ble 5,576 Surplus for the y•ar 32,079 17,107 Movement in fay value of financial inslrL¥nents 9,106 22,517 Tolal comprohènslve InCom{eXpendIlUre) for Ihe year 41.185 39.624 Balance at 1 January 2024 313,649 274,025 Balance at 31 De¢emb8r 2024 354.834 313.649 The results relate wholy to continuing adNities. The a¢c£thpanying note5 fomi part of the fIrCIal statements. Apyoved by the Injstaes on 8 Septemb8r2025 and shd on behalf of Ihe trust Trustee Trustee
COLTON'S HOSPITAL CHARITY STATEMENT OF CHANGES IN FUNDS YEAR ENDED 310ECEMBER 2024 Balance al Gaii on Balancè at January 2024 Inwne Expenditure Investments Tfansfers DeCber 2024 Incomg and expenditure reseThe 60,001 49,098 121.2361 380 {10,(NJ)I 78.243 Designated Cyclic81 m8int&nancefuThJ 81.374 4,217 10.000 Extraor(ffinary repair fund 172.274 7.737 180,011 313.649 53,315 (21.236) 9,106 Balance al Gain on Balance at January 20rJ Income Expenditur8 Investmts Transfers December 2023 Inc8 and expenditwe re88rve 44,835 47.984 {34.055) 1.Y37 60.001 Designaied Cyclical maintenart6fuThJ 74.974 3,178 81,374 Extraordinary repair fund 154,216 18.058 172,274 274,025 51,162 134,0551 22,517 313,649 The wal maintenance fund Is lo meet maintenance ccst of a regLdar naliffe cther than annual costs. It is represented by: 2024 2023 Cost of fixed investrnents Investment revalLwtion 26,000 11,011 26,(KJO 10.022 37,011 36,022 Short term investments S9,9 45,352 Total 96.580 81.374 The gxtrac¥dinary repairfund is a reserve for exceptional maintenance projects. It is represented by. 2024 2023 Cost of investmènts Investment revaluat 69,904 110.107 69,904 102,370 Tolal 180.011 172,274
COLTON'S HOSPITAL CHARITY STATEMENT OF FINANCIAL posrrioN YEAR ENDED 31 DECEMBER 2024 Year ended Year 8nded 31 December 2024 31 December 2023 Fixed a$$ots Tangible fixed assets 14,198 6,540 Investmpnts 231.256 222,150 245,454 228,690 Curr•nt assets Debtors 10 3,182 3.%2 Investments 59.569 45,352 Cash and cash equIvants 48.842 40,684 Total Gurrent assets 111,593 89.598 Less.. Creditors- amounts falling due within one year {2,2131 14,639) Net current assets 109,380 84,959 Total nèt assgts 354,834 313.649 Resem¥ Inccfne and expgnditwe reserve 78.243 60,001 Design*ed resèNes Extraordinary repair fund Cydical m8inlenants fvnd 180.011 172,274 81,374 354,834 313.649 The financial statements were apFfoved and authoTised for issue by the trustees on 8 Septsmber 2025 and s¥Jned on behalf of Ihe trustees Trustee Trust The notes on pages 9 to 14 fom part ofthes8 accounts.
COLTON'S HOSPITAL CHARITY STATEMENT OF CASH FLOWS FOR THEYEAR ENDED 31 DECEMBER 2024 Note Yew ended Year ended 31 December 2024 310ecember 2023 Not $h gen•rnt•d from operating actlvltS8s 31.005 12.519 Cash Ik)w from Inv8sting activill•$ Purchase offLxed assets Interest receN8d {8,6291 14.2181 13,1781 112,8471 9,341 Transfer fromltto) investments 110,0001 Net chang• {oulyln cash and cash equivalents 8,158 9.341 Cash and cash equlvalents at beginnlng of tho ar 40.664 31.343 Cash and cash equlval•nts at end of the year 48.842 NEf CASH GENERATED FROM OPERATING ACTIVITIES Year endgd Year erKled 31 December 2024 31 December 2023 Operthg {deficitysurplus for th8 year 26,503 12.603 Adjustmenls f norFcash ern$ {Increase}Idecrease in debt5 Incr8aselldecxea5el in creditors Interest receTried Depreckgbon 380 12,4251 5,576 971 177 14.5111 4.504 31.005 12,519
COLTON'S HOSPITAL CHARITY NOTES TO THE FINANCIAL STATEMEiifs- 31 DECEMBER 2024 PRINCIPAL ACCOUNTING POLICIES CHARifY INFORMATION Conon's Hospital Charrty is a charity réglstered with the Charily Commlsslon for England and Wales is registered with the housing assorialion. BASIS OF PREPARATION The financial stalemenls have b8en prepared in attordance wilh aPpIable accounting standards including Financial Reporting Standard 102 Thg Financial Reporting Standartl Applicable in Ihe UK and R6publK of Ireland IFRS 1021. the Stat8menl of Recommended Practi for Sociol Housing Providers 2018, and with the Accounting Direction for private rggistered providers of Soctal housing in England 2022. The financi81 slalements are also prepared under th8 rg]uirernents of the Housing and Regeneration Act 2008. The charity is a Put4ic Benefit Enlily as defined by FRS 102. The financial statements have been prepared on a going conrn ba515 under the historical cost Gonvention. nK)drfied to Include Certain items at fair value. The financial statements are prepared In sterling, which is the functional CuencY of the charity. The svJnificanl accounting policies applied in the preparation of these flnanryal statements are sel out below. These pN)li¢ies have been con51Stently applied to all years presented unless otherwise stated. The requirem8nls of the SORP: Actounting by Registered Social Housing Providers 2022 relating to comrKJnent accounting has not b8en fOll(ed by the trte8$ as they do not feol that it yvould add any ben8frt for the users of the alunts. GOING CONceRN Al Ihe lime of approving the finanaal statements. the Iwstees have a reasonable expecaallon that the charty has adequate resources to continue in operational existence for tho foreseeable future. the trust continue to adopl the going concern basis of &cwrrting in preparfng the financi81 statements. TANGIBLE FIXED ASSETS AND DEPRECIATION lThJivithJal fLxed assets o)sling more Ih8n £l.0fy) are capitslisad Fr8ehold land is r11 depreciated. Depreciation of Otr assets ts cakulated to write off th& excess of cost over estimated residual amount evenly over their exFected eful h'ves as follows subject lo annual r8ViW. Freeh)Id property Equ¥>mert FreeId property is net of th8 housing assoaation grant and therefore has a lower value. No depreckation ha5 been charged as the value in the accounts is k)wer than market valug. At each reporting end date, the charity revieyds the c8ryirg afflounts of ts tangible assets to determine whetherlhere is any indication that those assets have Suffered an impaimionl loss. If ary suth indulion exists. the recoverable amwnt of the asset is estimated Sn order to detemiine the oxient of the impaimient loss Irf any}. Straight line Straight line 20% INVESTMENTS Fixed asset inveslTn8nts initl8lly measured at transartion pric* exduding trans8rtK)n costs, and oro subsequenlly measu at fair value at each reKK>rting dale. Changes in fair value are recognised in net in¢emel{exrndr(Ur8I for the year. TranSact)n sts are expensed as incurred.
10- COLTON'S HOSPITAL CHARITY NOTES TO THE FINANCIAL STATEMEKfs- 31 DECEMBER 2024 (Continued) PRINCIPAL ACCOUNTING POLICIES IC¢)nllnuod) TURNOVER Tumover represents residenl$' contrlbulions donations rerAivatAe forth8 year. HOUSING ASSOCIATION GRANTS Houn9 Association grants are paid by The HousiThJ Corporation to reducethe cost ofdevek)pment and is ther8fore shown as a deduction from the cc61 of housing woperties on the balanc8 sheet. Hou%ng Associalion grants are repayable under certaii circumsiances. primarily followng the sale of a property, bul wll nom)alty be restricted to net proceeds of a sale. OTHER GRANTS Other grants are Cled u) a receipts basts and matched agalnst any wsts to whrh they relat8. FUND AccouiillNG Unrestrirted funds can be US in aCdan wrfh the charitable ot48thes at the discretion of the trustees. D68Ignat r•s•No$ DesfvJnated reseryes ar6 part of unrestrlcted resms which have been eamiarked by the bowd for particular purpose. Such designations may be reversed by future board decasions. Expenditure cannot be directly set against designated reseNes. but il can fk tsken thrDugh the income ar¥Y expendture account. A transfer is Ih8n made frcffl designated res as 8FfJfcpfiate. Thetrust designaledthose reseNesset aside forfulure major repairs on all of 115 housing properties. The amounis set aside are bas8d on a stock condrtion survey of the trust's Using properties ond represents the expenditure that cannot be met from the tru51's future rental income stream. The desigrot8d re88fve is the amowrt that the board estimates is reqjired forlLrture majcT repay FINANCIAL INSTRUMENTS The chanty has elected to appty thè provisiorts Lrf Section 11 'Basic Financial Instrumenls, Serion 12 '0ther Finrla1 Inslrumerts Issugs, of FRS 102 to all of f(s firwncial irtslruments. Inslrum8nts are recognised in the charlly's balance $et the charity party to the IXJntractual promsions of the instrumenL Financial assets and liabililes are off5d, wfjth ts rbetamounts txesenled in th8finart4al statemerts. when there is a legally enforceab right lo set off the rewgnised amounts and there i5 an w)tenl to setlle on 8 t basis or to realise the ass8t sewe th8 liabilty $imultaneousty. BacrIan¢Tr assets, which irflude debtr)rs and cash and bank balances. are InallY measured al Ironsaction prre. Cash and cash equivalents ilUde Lzsh in hand and depogls held at t%ll with banks. Basic financial li8bilities, Yi¢luding ueditors are initialty reu)gnk al translI0n prKe. AmounL8 payable S daSsIfi as current liabilitw * payment Is due within one year less. If n¢X they are presented as nonpcurr&* liabilities.
COLTON'S HOSPITAL CHARIT NOTES TO THE FINANCIAL STATEMENfs - 31 DECEMBER 2024 (Continued) PRINCIPAL ACCOUNTING POLICIES Iconlinuodl Crftical accountkng •stlm•s and judgemonts In the application ofthe Charit$ accounting policKgS. the trustees ere requred to Make1jgeMents. estimates and 8ssumptions about the carying amount of assets aTrJ liabilitw that are not readily apparent from other sourcs. The 8Stimates and asso¢iated 8s$umpkn"ons are bas&J on historul experience and olherfaGtors that are considered to be relev8nt. Actual results may differfrun these estimates. The estimates and underlying aswmptions are rew8w8d on an ongoing basis. Revisions lo accounting eslifflates ere recognised in the 0d in which the 8Stirnate i8 revlsed vthere the rovision affects onty that perKKI, OT in the period of the revisSon and fvture periods where the revision affects kjth ujrrent luture pori(#Js. TURNOVER 2024 2023 Contributions from resider 47,594 46,653 DonatIcS Other irorne 145 47.739 46.658 INTEREST RECEIVABLE AND SIMILAR INCOME 2024 2023 other detx)sit interest COIF investment income dividerKIs 2,843 2.733 3.242 1.262 5,576
12- COLTON'S frIOSPITAL CHARITY NOTES TO THE FINANCIAL STATEMENTS- 31 DECEMBER 2024 (Continuodl PAirricuLARS OF INCOME AND EXPENDrruRE FROM SOCIAL HOUSING LETllNGS All h(Sing is classed as supwted housiw and hoUsid for okJ pecWe. 2024 2023 Incomg Renl lwabl8 Other income 47,594 145 46,653 Turnover from soclal houslng l•ttlngs 47,739 46.658 Operating exp•ndrture Man4ement Roulino maiitenance Mqor repairs exFendf(ure DepreGtiOn of housiig properties and equipment Other u)sts 12,534 5,935 12.536 19.739 971 1,796 1.780 Opernting oxpendlture on soclal houslng lettings 21.236 34.055 Oporntlng SulUsI(dofi¢ll} on soclal houslnglgttings 26,503 12,603 Void10&ges 1.576 4.3 TRUSTEes AND RELATED PAirrY TRANSAcnoNS No Iruslees any persons connected wh them reGeNed any r8muneration for their s8rvices to th8 tharty during this or thè weceding year. No tnjstees {2023.' nlll received any r9imbursement for expenses inwrred during th& year12023: £nill. The clerk lo the truslees 12023.11 ceIV1 reimbursements for £2.987 of honorarium expenses12023.. £2.9521 and £173 of IraveE expense5 {2023- £1291 incurred during th8 year. Th8 derk's totsl honorarium plus expenses and travel was £3,16012023: £3,081 }. There was £56120rJ: £1.7071 outstanding to the derk al the year end. EMPLOYEES There were no employees during either year. ACCOUNTANCY FEES The independent examinets also ry8pare the accounts for dtblon. The fee for the independ8nl examination i% £1,728 (2023.. £1,632). These figur&s are indusNe of VAT.
13- COLTON'S HosprrfvL CHARITY NOTES TO THE FINANCIAL STATEMENTS . 31 DECEMBER 20241Contlnued) FIXED ASSEfs - TANGIBLE Housir Freehold Associion ProFerty Grant Equipment Total Cost As at 31 December 2023 Additions 133,578 (127.0381 8,629 8,629 As at 31 December 2024 133.578 1127.0381 8,ff29 15,169 D¢prgciatlon As at 31 DecÉmber 2023 Charge for year 971 971 As at 31 December 2024 971 971 Net Book Valug As * 31 December 2024 133,578 1127.038) 14,198 As at 31 December 2023 133,578 1127,038) 6.540 The freehokd property wngsts of 12 aknhouses al Shipton Street. Yotk. The original mst is unknos9n. so the cost shown above rele$ to addi(ions to the scheme. A first legal charge on freehold prcpety is held by the Housing Corporation. FIXED ASSETS- INVESTMENTS 2024 2023 Al 1 January 2024 222.150 199,633 Gainllk)ssl in the ye 9,106 22,517 At 31 DBcemb8r 2024 231.256 222,150 Investrnents at market value compris8d.. UK equities 231.256 222,150 Historical cost as at 31 Decembgr 2024 105.904 105,W4
14- COLTON'S HOSPITAL CHARITY NOTES TO THE FINANCIAL STATEMEKfs- 31 DECEMBER 2024 {clIned) 10. DEBTORS 2024 2023 Rent receNable Prepayments 1,097 2.085 2,018 3,182 3,562 11. CREDITORS 2024 2023 Trade cradlcws other ueditors ALuuals Deferred knccffie 2.143 1,848 1.765 392 2,213 4,839 Deferred IncMe relates to reshjent o)ntribution paid in advarte.