HENRY BOYS ALMSHOUSES FINANCIAL sfATEMENTS FOR THE YEAR ENDED 31ST MARCH 2025 Houslng Corporatlon No: A4063 R8gl$tered Charlty No: 221456
HENRY BOYS ALMSHOUSES CONTENTS PAGE Board Report Independent Audltorfs Repoyt statement of Compr8henslve Inc(*lle Undudlng Income & Expendlture A(countl Balttn Sheet stalenient of (knnges In Raserves Notes io the nandal Ststements 8-11
HENRY BOYS ALMSHOUSES BOARD REPORT FOR THE YEAR ENDED 31ST MARCH, 2025 of Hou51ng A$allo[l and Charity J11)mon requlre Trustees to prepare nandal Stateinents for eath fin8Dcia1 year, whidi give a true and falr e ol the stale of affalts of the Charity as at the end of thÈ financial yÉar and of )e surplus or deficll for th.al perlod, In prepallng the Finandal Slalemenis, sultrdblB a£counUng wllcla5 have en adopted and conslstenuy applied, th the best of the Tfustees, knowledge and bellef, by rèfereno lo reasonable and prudeat judgements and estlmates. Appllrable accounung standards have beETh followed. The Trustees are respons1te for maintalnlng adequate accouTrUng records, for safeguaidlng the Jssets of tlie Cnarity and for prevenlng and del&ting traud and other E¥regular41ies. The TriisiE85 are al requlred to Indlcate vihere the Flnandal Statenients are prep8red otjier than ¢)n the ba515 Ihal the charity Is a going cimcern. The trustees of the Cyarlty regularly vIeW the Charity's flndnTr5 to determlne the mlnlmum amount of reseThes req(Ilrpd for the day to day manageTrnt or the Charlty In order to piowde for the future. Miy amounts over and above this thnlmuiii dre invested bad( into the 31'lty In the furttierance ol ils objecbw set out In its Schemè. The Charltyls Constltuted under the scheme 0124th June 1991, as aniended 8th August 2018. ès gn)ended 23rd March 2021, all lStered wi(Ii ihe Charlty Co)mIsSIon. The Charlty Is required to work withln the parameters of Ils Stheme In respett ¢f how and where It can r¢uull new Trustee5. part of the Managernent Agreement behveen the Charity and GreeDSquarÈ4ccord, the appolnled managlng agent for the Almghouses, one of Iho sérvltès GreellSqttareAccord prov5de5 Is adwce and support to ensure the Charity's adherence to Its conshtutiiig Trust Deed and Scheme, Th15 includes tralning and admlnlstratlye support In apwvlment of truslees. The Charfty's objects are to provide Home or Home5 for pwr or Infirm persons aged 60 years or over. Tlie ChaTlty owns an Ajmshouse, sltuated at 1 - 12 Henry BDYS lnshoU5, Wednesbury Road, Wal7], West Mldlallds, WSI and coirprlses of htyefve unlts for occupation by persons not less tIn 60 yearg of age, subject to the dlscretlon of the Trustees. Thc truste05 have had dua regard to guldance pub115hed by the Charity Commi$4(1] on public benefit. The Charw Is reglstered vAth The Charity Commlssloners (Number.. 2214561, 4tkd with the Honieg and Commnities Agency (Number.. A40631, arrfj ConsUted by a Deed of Trust dated 24th June 1991, as arnended on 3L Marth 2021, The (Jay-tdaY managenienl and admlnlstration of the AJmshou5e51s rarried out by Green5qu)reAccord Llniited and overseen by the Board, wl)kh conslgts ol the Trustees ol the CharSty. The free reserves of the charty, after deducung fixed assets and related sal Houslng Grant Ilablllty, amounted to £213,L5212024 £20DA921, 7he trustees conslder ihls is adequate to meet unexikcted outlays, The perfOrrr of the charltylg as d15dosed In the finBncial statements OTr page5 5 to 11. The Trustees conslder Uiat the charity15 In 8 sound financia1 posItto at Ihe year-eiid. DISCLOSURE OF INfoRMATION YO AUDITORS So far as Ihe trustee5 ate aiyare there is no relevant audlt1nlormaUon of whith the chariV5 audltors are unaiyare, and each tru5te2 has taken all steps ttiai he or she (bLiglit to have tske as a trustee In order to make hlmself OT herself aware of any relevaiit audlt information and to estèEAish that Ilie chbritvs audltors are aware of that Informadon. The Trustees who have seryed ihe Charlty durlng the yea¥ are as folk>ws.' Norinan Matthew5 na Jukes Ndl Walket Mohammed Arlf Tracey PUrstuSe- Reslgne(13t,03.2025 Charloite Holme5- Reslfjn 31.03,7.025 Mehml Ram- AptK>inted 30.05.2024 Paul bott- AppDlnled 11.03.2025 For and on behalf ofthe Board Date11,12u
HENRY BOYS ALMSHOUSES INDEPENDENT AUDITOR'S REPORT TO THE BOARD OF HENRY BOYS ALMSHOUSES Oplnlon We have audlted thè flnandal statements of Henry Boys TShoUSe5 (t 'a5sodaNon? for the year ended 31 b1arch ?.025 whlch comprlse ol a statement of comprehenslve Income, a balance sheet and notes to the flnanclal stateinents, Indudlng a suinmary of slgnlficant accouoilng PDllcles. The flnandal rcpothng fraw,ework that has been applled In thelr preparatron Is appllcable law Unlted Kliigdom Actounung StaardS, Includlng Flnandal Reportlno Standard 102 7he R/iBnd31 Reportlng Standard applicable In the UK&nd Republlc of Ire/8nd (Unlled Klngdom Generally Accepted Accountlng Practlce). In oplnlon the financial statements: glve a true and fair eW of the stste of the assodauon's afFalr5 as at 31st March 2025, and of Its Incornlng resourre5 ènd appllcAYon of rtsoiirces, Indudlng Its Incomo and expendlttjre, for the year ttien have l)een propwly prepared In accordants wth Unlted Kng(k)m Gefierally Apted Accounung Pradltr,. and have been prepar8J In a(rordance wllh die reqi11Mets Jf the charfe$ Att 2011, the Houslng and Regeneratton A(t 2a08 and Ilie Accountii)g Dlrectlon lor wwate reglstered provlders of sodal houslng In England 2022. asi5 fo* oplnl011 We COcted our audlt èccordatME wllh Interiiadollal Stanclards on Audltlng {VKI (fsAs (U) ènd appllcable la¥v. Our respon51bllides under those standards are further de5cribeci In the Alt01S rpOnSIbIlIe5 foi the audit of Ilie finandal statements secllon of oiir report. We are IrKJepen(leiil of the assoclation In accordan wlth the elhlr21 requlrenients that are relevant to our audlt of the finandal stateinents In the UK, Indudlng the FRC'S Ethlcal Standard, and we have fu1fl11ed our other etlilcal responslb',lities In aC¥danCe wlth tliese reoulrements. We beIve thal the audlt &denCe we have obtsined Is SLEfficlent and approprlate to provlde a bals for our opliilon. Coiicliisions r¢latin# to llolng coii¢ern In audltlng the flnanaal statements, we have ¢J)ncluded that tro board's use of the golng conrn basls of accounting In the preparatlon of the flnandal stalementsls approprlate. Ba1 on the work we hève performed, we have not Identtfled any materfal uiicertalnlles rdatlng to events or condlb'ons that, IndlK4dually or colledvely, may cast slgninc3nL doubt on the assodatton'g abillty to conunue as a golrtg COnM for a peilod of al leasi twelve rnonths fron) when the Ananrial Statements dre aLEthorlzed for Issue, Our responsllAlltres and the responslbllllles of the board with respett to go1 conwn are descrfbed li) the I'elÈvant s&Uons of this report. other inforniatlon The other Informallon comprlse5 the Informatton Included Iii the board report, ollier than the ftnandal statements and our audltor's report thereon. The tyjard ore iesponslble for ihe other Inlormaknon contalned wlthln the board report. Our oplnlon on the fiE)and81 stateinents does not cover other Ii)formalion and, except trj Vie extent otherwise expliciuy slated in our IEport, lye do not exprets any fo of assurance conduslon Ihereon. Our wponslb151ty Isto read the other Inforrnauon ènd, In ddng so, conslder whetr the otPier lnforfna0n Is materlally Incon5tstent with the financlal stAtements or our knovledge obtalned In the cnurse of the audll, or oll)erw15e appears to be materlally mlsstated. If we Identify such tnaterlal Iiicui)slstendes or apparent 1nate.rlal n)ltateMents, we are I'equired to deternilne whether thls glves rise to a materlal rnlsstatement In the flnandal statemeiits themsefves. If, b&£Ad on thg work WF. ha. performpA, we tondude that tliere Is rllaterlal mIsslateMit of thls other Inlormatton, we are required to report that féct. We have nothlng to report In tlils reoard.
HENRY BOYS ALMSHOUSES XNDEPENDENT AUL)ITOR'S REPORT TO THE BOARD OF HENRY BOYS ALMSHOUSES Matters oil whlch w8 are required to réport by oxceptlon We have nolhlno to report In iespect of the follovthng matters In relailDfk to vjhlch the Charllles (Accounts and Reposts) ReoLJlatlons 2008 reoulre us io report to you If, In our oplnlon,. the Informatlon gIn In the financlal statements Is Incixslstent In any materlal respect wlth the board report,. or suffldenl accounung rÈcords havè not been kept., or ihe financial statements ore not li) agreement wlth the accounllng records,. or we have not recelved all the Infom)adon and exanatIonS we requlre for our audlt. In addltlon, we have noihing lo report In respert of the follolvlro matter where the Hin9 and Regenerauon Art 2008 requlres us lo rwrt to you If, In our oplnlon.. a satlsfactory system of control over tran£10n5 has not be malnta1ned. Respon$lbllitlgs of the board As explained more lully In the board's responslbililles statement Isel out on page 11, the board niembers (who are also the trustees of the associatton for the purposes of Char law) a responslble for the preparailoii of the finandal slalenients and for belng salisfled that Ihw glve a bue and lalr ew, and for surh Internal control as the board delèrmlne Is necessary to enable the preparatton ol flnandal statements that are free from mateilal mls5trtemenL wliether due to fraud Dr error. In prepailng tve ISnaal statements, the board Is reswnslble for asse5slng the as9JdaUon s ablllty to contrnue a5 a golng COnrn, dlscloslngi as applICae, wnatters related to golng cunTrrii arkd u51no the golng a)nrn L*sls of accounung unless the board either Intrnds to Ilquldate the aSsadOr1 or to cease operauons, Dr has no reallsuc alternallve bift lo do so. Audltoffs re5poi3$lbilltlo5 for tlie audlt of the fthlllltlbl $tatement$ Our oblecfjve5 are to obtsSn reasonable fissuran ab(K whellw the nnanclal statements as a whole are free from materlal mls3tal'emen¥ whether due lo fraud or error, and to Issue an a(tor'S report that InLludes our oplnion. ReasollaLle a55urance1g a hlgli level ol aurants, bul Is not a guarantp.o that an audlt conduttd In accordance with ISAS {UKI will Blways delett a niaterlal mlsstatement when It exlsts. Mlssiatemenl% can arise froni fraud or ermr and are consldered material If, Indlvidually or In the aggregate, they could reasonably expected lo Influen the ecMIC deoslons of users taken on the basls of these flnancjal slalements, We have been apwlAlÉd as audltor under seLtlon 1441 of the Charftles Act 2011 and sectlon 136 of the Hou51ng and Regeiierallon Act 2008 and report in accordan wilh regulattons made urKJer settlon 154 of the Oprllles Act 2011 and secllon 137 of the Housin9 and Regeneration Act 2008. The spedflc prOdureS for Ihls engagement and the extent to whlch these are capable of delecuw Irregu1arllles, indudlng fraud Is detailed below,. In Identifyrfiig and assesslng rfsks of material rnisstatement In respect of Irregularlti85, Indudlng fraud and nOn-0)n)pllan wlth laws aFKJ regulalJon5, we consldered the lollovlng: the naiure of the settor, control enwionment and bUneSS performan,. enqulrf&s of rnanagenient alLut 1dflcaIion and aswsment of the rfsks of Irregularflles,. any maws we Identified having @Wed Ihe aSS(allOnS prOdureS for COfflwilg with laws and regulattons, and whether they werp awarp of any Instances ol non-compllance, and any acbJal, susperted or alleged fraud, The key lavjs and regulatK)ns we consldered In thls conlexl Induded the CliariUes Att 2011, aNJ the Houslw ar Regenerallon Act 2008. Our proreS to respond to Identlfled Ind1 the fdlowlng:
HENRY BOYS ALMSHOUSES XNDEPENDENT AUDITOR'S REPORT TO THE BOARD OF HENRY BOYS ALMSHOUSES re%lewln9 the ftnandal statement dlsdosuru and tesllng to supportfng documenlatyon. er)qulrlng of managenient concernlng potentl81 Illlgallon aThJ clalms,. perforinlng analytlcal procedure5 I'o Identify any unusual or unexpected ielatlonshlps that may Indlcate rfjsks OF mèlerlal mItate,ent due lo fraud,. testlng the approprlateness of ioiirnal entrles and other adlugtmenis, assesslng whether accounting estirrtales were Indlcatlv8 of a polen¥al blas, ar evaluafjng any sIgnIflnt Iransathons that were unusual or outskle the normal LIrSe of bLJslness. We also remalned olerl to any Indlcallons of fraud or non-con)pliance with laws and regulallon5 throughout the audlt. Because of the Inherenl IlmltsUon5 of an aiidil, IheTe Is 3 rlsk that we vrtll t detect all Irregularltyes, Including those leadln9 to d Inatelal Mlsstatement In the flnandal statements or n0n-compl1an vdth gulauon, Thls rtsk inuease5 the more that compllance wlth a law or regulat1 Is removed from the ents and Irangacuons refletted In the flnanchl stalen)lIs, as we wlll bèless Ilkdy to become aware of Instsi$ of Iion-compllance. The rlsk Is also greater regardlng Iriegularltl occurdng due lo fiaud rather than enor, as fraud Ii)vo5ves IntenUoiial Q>lKealmenl, forgeryi collus1on, omlsslon or mlsrepresentallDn. A further descrtpllon of our responslb111des Is avallable on the Rnandal Réporting Councll's webslie. Thls desulplion fomis part of ouraLKJltY)r's report, Uso ofour report Thls report ls made solely to the assoclation's board, as a bodyi In acCdanCe wlth Part 4 of the cha¥eS (Attounts aid Reports) RegulaUDns 2008 and secuon 137 of the Hol1)0 and Reoeiieiauon Act 20011. Our audlt work has been undertakw so that we mlght state to the aSsoaaan's ard those matters we are requlred lo slate to them In an audltorfs report ai)d for no nther purpose. -fo the ftjllest extent pem)1tied by law, we do not 8ccep.t or ass'ame responslblllty to anyon8 other thali the assodallon aThl the assodatlon's tymrd as a lJ)dyi for our audlt work, for thls report, or for the oplnloiis ive have formed. stalutory Aiidilor Church Court Stourbrldge Road Halesowen West Mldlands B633 Date
HENRY BOYS ALMSHOUSES stateiiient of Compr¢lienslv8 Income (Iiicluding Income amd Expertdlture Account) for the year elided 31st March, 2025 Note 2025 2024 Turiiovér: 62,465 63,655 Operatlny Costs: Manageinenl sete$ Oay to Day Maintenai) VoidlM8lor Repalrs Oepreclauon 120,919) (3,865) (16,507) (18,406) (3,738) 117,421) (11,229) 781 Opeyating Surplu8 11,701 3,874 Interest Re1vable and Other Income Movement Falr Value of Inv&slments 5,471 6,522 Surplus on ordlnary activltlgs béfore taxatlon 13,936 12,75g Tax on 5urpliis Surplus for the flnanciAI year
HENRY BOYSALMSHOUSFS Balanca Sheet for the Year Ended 31st March, 2025 Noto 2025 2024 FIXED ASSETS Housliw land and bulldlngs (iiel of depredauon) 581,859 581,400 Investments 86 609,486 631,709 CURRENT ASSEYS Debtors Cash at Baiik io 1,972 1,6111 205,219 211,613 CURRENT LIABILITIES Creditors: Amounts falllng due within one year li 57 NEf CURRENT ASSETS TOTAL ASSETS LESS CURRENT LTABILITIES Credltors: Ainounts fallliig dué fter ona year NET ASSETS CApifAL AND RESERVES Unrestdcled ReseNe 13 622,595 608,659 The Hnanclal Statements were approved by the Tr1 and slgned on behalf of the Boai"d by.. Trustee i1,lab Trustee 16 Date
HENRY BOYS ALMSHOUSES statement of Clianues lrt Reserve5 for the Year Ended 31st March, 2025 2025 Total Resarve 2024 Totgl Reserve At l Aprll 2D24 608,659 595,900 Total Comprehenlve Income At31 Marth 2025
HENRY BOYS ALMSHOUSES NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH, 2025 PRINCIPAL ACCOUNTING POLicfES Tl)e Henry Hoyg Alm5hoiises Is establlshed as an unlncorpoffited chaAty under the tharllles Act 2011 and Is a prfvate reglstered wovlder of sotsal houslng In the Unlted Klngdom. Tr,e addresses of the pla5 of business are olven In the Yeey1 of operatlons on Page l of these flnanclal ststsments. The nature of the diarty's operatlons and prindpal acuvities ère to prode rell&f for the persons Iii h8rdshlp by the provi*on ol Nn15houses accornmodatlon, conslltules a publlc benefit entity as deflned by FRS 102. The Hnanclal statements have been ppared in accordan wlth appllcable accounting StaiardS In¢ludlng Flnanclal Repong Standards 102 'The Flnandal Repoyung StRndards applicable In the UK and Republlc of Ireland, (FRS 102), the Slatenient of Recommended Pradlce for sal Hoiisl Prothders 2018 (SQRP 2018) aFKI th the Accounung Dlreclon for prfvète reglslered provlders ul scLlal hous[ in England 2022. The Flnanclal Stateinents are also prered under the requlrements f the Housii)y and Regenerallon Act 2008. The Nnanaal Statements have been prepared on a gng conrn ba515 under the hlstorical (x)st convenmon, modifled to Include rts1 Items at falr value, The Financlal Slatemenls are wepared In sterllngi whlch Is the functional currency of the d)arfty. The slgiiiflnI accoiinbng p)Ildes app5iEd In the preparatlon ol these finaiiaal statements are sel out beltsw. The polldes Ive been o)ns15tenlly applled lo all years prent unless otherwlse staW. A svmmary of the more Imp)rtant accountlng pollcles Is set oui bdDW. (A) Basls of Accoiintlny Ttie Rnandal Statements are prepared on the hlstorlcal cost basls ol accountlng. (b) T41niovor Turnover represents renls, and servlce charges reTrlvable ind amor115adon of grants re1veLl ousimg Propertles During the year ended 31 March ?021 Henry Boy5 Almshouses adopted full cvmponent accounung In relatlon to the capltollzatlon and depredatton of its houslng propety stod<. All houslno prOthe$ havé been S1t between thelr land, structure costs and theSr major components which requlre plodI¢ plaCeMent. Refurbisliment or replament of such n)aJor components Is capltslised and depredated over the esdmdled useful Ilfe of the component as shown In the table below. Land Is not dep¥etloled. (c) Coiiiponent Estimated useful life In eai's loo 20 30 20 35 Bulldln Bathroom Boiler & Central 14eati Windows & Doors (d) Governmeht Grants Govarnn7ent grants, Ii)cludlng al Hoiislng Grants (SHG) whlch was recelved from the Htsuslng Corporation In Tespett of h01151ng propertles, are recognlsed at the falr value of the asset r5Ved or recelvable and accounted for uslng the accrual rnodel. They are re(yJgnlsed ès a Ilablllty and amorlised over the uselul ecanomlc 1Sfe of the t. The amorifsauon Ss rett4n'sed wllhln Turnover. (e) Iiivestinents Investments are stated at market value. (f) Cycll¢al R¢palY$ & Malntenan¢¢ Trustees have eslabllshed a regular progrnmme of o/dlcal repalrs and malntenarKe. ts are charged to the Reveniie account In the year In whlch they are Incurred.
HENRY BOYS ALMSHOUSES NOTES TO THE FINANCIAL STATEMENTS forthe Year Ended 31st March, 2024 (g) Extraordlnary Kepalrs Costs of Exlraordlnary Repalrs, unleas ¥epresentlng Improvements to the propertles ere tharged to the Revenue account for the year In whlch they are Incurred. (h) Valuo Addéd Tax Henry Boys Almshou 15 not reglstered for Value Added Tax, In these ffNinclal statements, khere applitab1e, expendSture Is shown Iniluslve of VAT. Casli Flow Statemeiit Under FRS 102, the aiarily Is not requlred to produ a Cash Flaw Statement, (J) Designated Rasatves DOnated reserve5 ére pait of unrestrsctsd reserves whlch have been earmarked by Ihe Board lot. a p3rticiilar purpose. sudi deslgnalloNs may be reversed by tre Board declsLons. Expendlture nn0t be dlreclly set against deslgnated rÉseNes bulls taken through the Income and expendliure a(ut. A transfer Is then made from deslgnated reseNes as approprlate. The Capltal Fuiid represents Iiicome recelved In earlier years whlch the trustees resolved should be held for the future cdpital purpuses of the Charlty, 2. TRUSTEES EMOLUMENTS Thé Dlrectors are defjned as the Trustees, None of the Twslees reIVed any emolunRnls. 3. EMPLOYEE INFORMATION The Charlty employs no staff, 2025 2024 4. TURNOVER MaINtenan Contrlbutyon Se1 U)3ryÈ Vold5 Amcwtisatlon of GovwnrnÈnt Grants 62,825 1,899 (6,035) 59,20S 3,960 (3,286) 77 63,655 62,465 5. INTEREST RECEIVAOLE AND OTHER INCOME 2025 2024 Bank Interest Investment income 6. SURPLUS ON ORDINARY AcTIvrEs BEFORE TAXATION 2025 2024 Thls Is slalgd 8fter charglng.. Audttors Remunerats'ork Ilncludlr¥J VAT) In thelr capaoty as Audltors 7. fAXATtON Henry Bow Alrnshouses Is a Wlstered Charfty and Is, therefore, exempt from Ilablllty lo iaxatfon on I Income and Cakllal galns.
HENRY Boyti ALM5HQUSES NOTES TO THE FINANCIAL STATEMENTS for the Year Ended 31st Marcli, 2025 8. FIXED ASSETS 2025 2024 HOUSING LAND AND BUILDZNGS~ Froehold Cost As at 1st Aprjl 2024 Addlttons 681,237 672,737 As at 31st March 2025 Depreclation As at 1st Aprll 2024 arged iii year ,831 473 90,849 As at 31d March 2025 Net BookValu¢ At beglnnlng of year At eiid of year Land wlth an esllTnated c05t of £65,174 Is not cleprttlèled. 9. INVESTMENTS 2025 ?.024 At Valuatlon: Chataty Comilllssloners- COIF Shares 10. DEBYORS 2025 2024 Prepayments Contrlbutlon Arreai's 314 658 11. CREDrroRS: Amounts falliiig due witliih 0110 year 2025 2024 Trade Creditors Contr5buUon paid Sundry Credltors GOvernnnt Grants Accruals 7,595 1,970 932 3,776 4,099 2,128 3,456 12. CREDrroRS: AIMoiints falllng due After one year 2025 2024 Government Grants io-
HENRY BOYSALNSHOU5ES NOTES TO THE FINANCIAL STATEMENTS for the Year Ended 31st Mbrch, 2025 13. REVENUE RESERVE Total Total AL i&1 April 2024 Surplus for the ye8r Transfer from Capllal Fund 548,659 13,936 535,900 12,759 At 31st March 2025 DESIGNATED RESEKVES Capltsl Fund Capital Fund At ISI Aprll 2024 Transfer to Reven(E ReseNe 60,000 60,000 At 315t March 2025 14. ACCONMODATION The charity manages 12 unlts of hOIng for older people.