JACOB WRIGHT COTTAGES
Wm Fortune & Son
Chartsred Accountants
Registered Auditors
Collingwood Hou$e
Church Squar¢
Hartlepool
TS24 7EN
Jacob Wrftght's Cottages
PO Box 31
The Grove
168 Front Street
CheSter-￿street
County Durham
DH3 3YH
Dear Sirs
We Confllin that the following infornmtion in connection with your audit of the
financial statements for the yeat ended 31 December 2024 is to the best of our
knowledge aud belief, trne and fair. bearing in mind the requirements of the Housing
and Regeneration Act 2008 and the Charities Act 2011.
l. General
To the best of our knowledge and belief all transactions undertaken by th¢
company have been properly recorded in the accounttng records and these
financial statements and all relevant records have been given to you.
2. AccountillE Policies
The accounting policies used are detailed in the financiaI statements and are
con8lSt¢nt with those adopted in the previous financial Stat￿llents.
3. Income and Expenditsre Account surplus £1,107
Ex¢¢pt as disclosed in the financi81 statements, thc results for the year were not
matCTially affected by:
(a) transactions of a sort not usually undertaken by the co]npany,
(b) circumstances of an exceptional or non-recurrent natur4
(c) charges or credits relating to priot periods or
(d) any change in the basis of accounting.
Any expenditure Included in the financial Statements (wh¢r¢ ￿￿llpts or vouchers
were not available) was PTOP¢Tly made in connection with the carrying on of Ihe
Company's buslness, unless specifically notified to you as being of aprivate
nature.
4. Fixed Assets £90S52
(a) the company has a satisfactory title to all fjxed assets included in the
financial statements.
Ib) the fixed assets to which the company has satisfactory title included in
th¢ financial statements.
S. Debtors £3,771
Balan¢es included in the financial statements are all valid debtors or
prepayments. The bad debts vThitten off are complete as far as the diTethors are
aware and fi￿1 provision has been made against specific debts which are known
ormay be expected to be iTTecoverable.
Document ￿le Name..
htlPS..Ildatnhaorguk.my.sharepoint.romlper5DnallmW￿ghL0é￿hè_0ty_u￿0Q[￿merntsljac0b Wrlght MEEUnv1202513rd March 20251Letter hÈad.do¢%

6. Other Current Assets £23210
In our opinion, other current assets are expected to reAlise in the ordinary course
of business at least the amounts at which they are stated in the company's
Balanc¢ Sheet.
7. Liabilitle$ (£2,229)
All known liabiliti¢s of material amount at 31 D¢c¢fflber 2024 ar¢ shown in the
finanGial statements including the liability for all purcha￿ lo which title has
passed prior to 31 December 2024.
8. Capltsl Conllnitments
At 31 Decemb¢r 2024 there w¢re no ¢onllnitments for capital exp¢nditure.
9. Contingent Liabilities
No contingent liabiltties existed at 31 De¢ember 2024.
10. Post B￿a￿te Sheet Events
No events have o¢curred between 31 December 2024 and the date of this lette¥
whith could Mat￿lalIY affect the financial statanents.
11. Tr#n$aetious wlth Trnstses
The Company has had at no tim¢ during the year any a￿angemenE transaction or
a￿eernent to provide credit facilities (including loan4 quasi-108ns or credit
transactions) for the directors nor to guarantee or provide security for such
matters.
12. Going Contern
In our opinion, the company will have adequate resources available to finance its
trading and other obligations during the course of the twdve months from the
date of tbis letter.
13. Law and Regulations
We confinn that the company bas complied with all law and regulations relevant
to the activities of thc company dwing the year under audit and that w¢ have
made availabl¢ all such relevant infonnation necessary for audit purw)s¢s.
Yours faithfi￿Y
Trn8te¢

JACOB WRIGHT'S corrAGES
TRUSTEES. ANNUAL REPORT AND ACCOUNTS
For the year ended
31 December 2024
Reglstered Chartty Number 222306
Regulator of Sodal Houslng Number A2293
If you would Ilke Jddltlonal onl￿MatIon regardlng any of the chart￿9 athV￿es. pOl￿e$, rut¢s. ¢omplalnts procedure$ •t¢,
please contact the Associations Manaolng Agents:_
Durham Aged Mlnew¢¢kers' Ho￿$ A￿la110￿
The Grove
PO Box 31
168 Front Street
hester.k-Stre¢i
Co. Durh)m
DH3 3YH
Télephonè..
Emall..
Webslte..
(0191} 3881111
lnfo@dèrnha.oru.uk
*ww.damha.or4.uk

JACOB WRIGHTS corrAGES
Tru5tees' t7nnual ￿port and accounts
31 De￿mber 2024
Contents
Trustees and Advisors...
Chalrman's Report.....................................
Report of theTrustees...................
Stotement of the Responsibilities of the Trustee5 in Respect of the Accounts.....................
Report oftheAudltors..................
statement of comprehenslve income for the year ended 31 December 2024.......
Statement of thanges In reserves for the year ended 31 December 2024........,,,.................
Statement of finanual positlon as at 31 De￿Mtser 2024 .................
Notes.................
io
li
12
13

JACOB WRIGHT'S COThAGES
Tnstee5' annual report and accounts
31 De￿rnber 2024
Trustees and Advisors
Trustees
B Qrter (Chair)
RLaw
D Proud
Cllr R Bolden
A Sanderson
J Cosslett - Appolnted 16th September 2024
B Medhurst - Reslgned 15th March 2024
Advlsor8
Managlng Agents
Durham Aged Mlneworkers, pfomes Assodatlon
POBox31
The Grove
168 Front street
Chester-le-street
Co. Durham
DH3 3YFI
Audltors
Wm. Fortune & Son
Colllngwood House
Church Squa
Hartlepool
TS24 7EN
Telephone..
Fax:
Emall:
Webslte,.
(0191) 3881111
1019113882838
lnfo@damha.org.uk
www.damha.org.uk
Bankers
Barclays Bank PLC
Jeriklri¥ Huu>¢
Bob Hardlsty Drlve
Blshop Auckland
Co Durham
DL4 7YL
Sollcltors
A N Fèlrdough
Smlth Roddam
56 North 8ondgate
Blshop Auckland
Co Durham
CAF Bank Umlted
25 Klngs Hlll Avenue
Klngs Hlll
West Malllng
Kent
ME19 4JQ

JACOB WRIGHTS COThAGES
Tnistees'annual report and 3ccounts
310ecember 2024
On behalf of the Trustees, l am pleased to present our Report and Accounts for the year ended 31
December 2024, thi5 btyng the 142nd year of the Trusvs existence.
Our alm Is the provision of good quallty and affordable homes for a total of five resldents. In seeklng to
do so we are grateful for the help and sUPPQrt provided for us by our rnanaging agents Durham Aged
Mlneworkers. Homes Assoclatlon IDAMHA) who contlnue to work for us to provide the quality servi
whlch our resldents expect. As ever thelr ass15tan¢e is muth appreclated.
Flnally, I must also thank my fellow Trustees for all thelr commltment and hard work, all of which Is
voluntartly glven. I know that our residents a5 well as myself appreciate all thdr interest, care and
attentlon.
B Carter
Chalr

JACOB WRIGHfs COThAGE5
Trnstees'annual report and accounts
31 December 2024
Thls report has been prepared In accordance wlth relevant leglslatlon Includlng the Ststement of
Recommended Practlce 'Accounting by Charities, issued by the Charity Commls51on and'Internal FSnanclal
Cor)trol & Flnanclal Reportlng, i55ued by the former Tenant Servlce5 Authorlty.
The Trustees present thelr report together with audited finandal statements ftjr the perlod ended 31
December 2024.
Status
Jacob Wrlght Cottages (prevlously called Jacob Wrlght Almshouses) was estèbllshetl In 1883 and is an
unlncorporated charlty admlnlstered by a Charlty Commlsslon Scheme dated 14th October 1998 and as
amended 17th March 2003. It Is an Mmshouse Charfty (No.222306) and a Reglstered Soc131 Landlord (No.
A2293).
Object*
The objects of the Chadty are:
(a)
(b)
the prgvlslon of houslng accommodatlon for benefldarles
such charltable purposes for the benefft of the rt￿dents as the trustees dec4de
Beneft¢larfes are deflned as"Pwr persons of good tharacter who have reslded wlthln the Ecdeslastlcal
parlsh of St Paul's, Evenwood for not less than 6 months at the time of appolntment.
Revlew of Actlvlty
Th2re were no vold propertles In the perlod. The propertle5 were subject to an averdge net charge of
£84.78 per week Indudlng water rates.
Governance
At thelr meetlng held on Ilt October 2001 Trustees agreed to adopt In full chapter one "Governance" of
°standards of Almshouse Management" published by The Mmshouse Assodation.
Trustees
Trustees have a wealth of exPerfen￿ of the community seNed together w￿h a hlgh degree of enthuslasm
and commltment.
Trustees met 4 times in the year. whereupon they were advlsed and asslsted by their Managlng Agents,
DAMHA,

JAC08 WRIGHTS COTtAGES
Trustees, annual report and accounts
31 De￿fftber 2024
Report of the Trustees {Continued)
qual Opportunitles
Trustees are committed to equal opportunltles and have adopted a pollcy statement to confimi this
commltment.
Audlt & Internal Flnan¢lal Control
Trustees are responslble lor establishlng and malntalnlng the system of Intemal finanaal control. Internal
control systerns are deslgned to meet the parycular needs of the charlty and the rtsks to which it Is
exposed, and by their nature can provlde reasonable but not absolute assurance agalnst materlal mbs-
Statement or loss.
Trustees have agreed Standin9 Orders dated 15r January 1998 and are rellant on DAMHA'S procedures to
provlde effettlve Intemal flnandal controls as follows:
Management Strurture
There are clear responsibllltles and delegated powets for the Trustees and Managlng Agents as set
out In the Management Agreement dated 5th June 2023.
Standlng Ordets and Rnandal Regulattons
Responslbllity levels are communlcated throughout OAMHA'S Standlng Orders whlch set out Inter
alia ¢elegation of authortty and aurnoff sation levels, and other control pruLedur¥¥. M)es* $taiidln9
orders are revlewed and updated on a regular basis.
Quality and Integrlty of Personnel
DAMHA recognlsg the vèluèble contrlbutlon to quallty whlch results from employlng competent
staff and through investlng In thelr personal development.
8udgetary Prncess
Each year the Trustees approve the annual budget. Performance Is monitored perfodlcally agalnst
this budget wlth the production of management accounts whlch are then consldered by the
Trustees, and relevant actyon taken as necessary.
Internal Audit
An Internal au(Jlt function has been establlshed In DAMHA together with a separate Audlt and Rlsk
Committee. Th15 Comrtiittee monitors the operating performance of DAMHA as a whole and
detemiines any relevant action requlred In respett of any control matter ralsed by the Internal or
external auditors.

JACOB WRIGHTS C07TAGES
[n￿tee5. annual report and accounts
31 December 2024
Report of the Trustees (Contlnued)
Trustee5 will conslder and deternilne relevant actlon requlred respect of any control matter
raised by DAMHA'S Internal auditors.
Trustees have revlewed the effectiveness of DAMHA s system of intemal flnanclal controls. whlch
operated durlng the year and are cx)ntent they are approprtate to the charoty.
Value for Money Statement
The Reglstered Charlty Is eommltte(J to belng an effectlve and effldent %)dal buslness achlevlng Value
for Money ("VfM'? In all of Its actlvStles.
As the charlty gnly has 5 unlts to achieve Vfm It benefits from the polldes and procedures of DAMHA
(the managlng agent). Examples of th15 are where a new central heatlng boller is requlred. the costs are
those negotiated by DAMHA who have In excess of 1800 units. This prlnclple also applles for
replacement wlndows, ￿tChenS and bathrooms as requlred.
Qtslnquennlal Inspectlons are carrled out to schedule planned malntenance. that sald many of the
Improvements are carrled out during volé perfods due to the age and vulnerablllty of the resldents,
Throuoh the management agreement Jacob Wrlght Cottages have a cost-effectlve pr¢xess of managlng
day to day repalrs and the collectlon of the weekly rnalntenance charge. Resldents also contsct
housing officers on a free phone number.
AdLJllluiidl vfm Is ad)Itv¢d by Y￿ng where appropriate local contractors, e.g. land￿ape malntcnance.
Performance for the Charlty on the RSH key metrlcs In relation to Vft4 are as follows:
METRIC
2024
2022
1} Rèinvestment
2) New supply delivere(i
al Social h¢xJsiryJ units
Non-social housin
units
15.15%
28.78%
34.21%
0%
3) Gearlng
NIA
WA
NIA
41 EBITDA MRI Interest C¢)ver
NIA
WA
NIA
51 Headline SOCI￿ housing ￿$1 per unit
61 Operating maryin
al Social housing lettings
OveT811
£4.439
£4,9V
£4.299
-9.16%
-9.18%
.53.82%
-53.82%
33.68%
33.68%
7} Return on Capital Employed IROCEI
-1.11%
.71%
4.16%
No materlal changes in policy have occurred SIn￿ the last annual report or are cU￿endY under ￿vIeW.

JACOS WRtGHTS co￿AGEs
Trustees"annual report and accounts
31 December 2024
Under charity law. the Trustees are responslble for preparfng the Trustees'Annual Report and the financial
statements in accordance with applicable law and regulations.
The financlal statements are requlred by law to glve a true and falr view of the state of affalrs of the
charlty and of the surplus or defiot for that period.
In preparlng these flnanclal statements, the Trustees are requlred to..
selert sultable accounting pollcles and then apply them ¢onslstenUy;
make judgements and estlmates that are rea￿nable and prudent;
state whether the recommendatlons of the Statement of Re¢ommended Practlce have been
followed, subject to any material deparbjres disdosed and explalned In the finanoal ststements;
prepare the flnanclal statements on the golng cfjncem basls unless It Is Inapproprlate to presume
that the associatlon will Continue In buslness.
The Trustees are responslble for keeplng proper accountlng records, sufflclent to dlsclose at any tlme,
wlth reasonable accura¢yi the financial position of the charlty at that tlme and enable the Trustees to
ensure that Its flnanclal statements comply w4th the Charitles Act 2011, the Hous5ng and Regeneratlon
Art 2008 and the Accountlng Dlrectlon for Prlvate Reglstered Provlders of S¢xlal Houslng In England 2015.
The Trustees have general responsibillty for taklng such steps as are reasonably open to them to safeguard
the assets of the Assoclatlon and to prevent and detert fraud and other Irregularliles.
The Trustees are re$ponslble for the rna5ntenan￿ and Integrtty of the corporate and financlal Information
Iiicluded oli the Assocljtlon's v4ebslte. Leglslatlon In the UK 9ovemlng the preparotlon and 01￿￿￿￿0mlnat10n
of flnanclal ststements mèy dlffer from leglslatlon In other jurisdlrtlon5.
Slgned on behalf of the Trustees
B Carter
Chalr
2025

JACOB WRIGHfs COThAGES
Trustees'annual report and accounts
31 December 2024
We have audited the flnandal statements of Jacob Wrlght's Cottages for the year ended 31 December
2024 on pages 9 to 19. The flnanclal reportln9 framework thèt has been applled In thelr preparation is
applicable law and United Klngdom Accountlng Standards (Unlted Kingdom Generally Accepted Accounting
Prathcel Induding FRS 102 Finanaal Reporting standard applicable In the UK and Republic of
Ireland",
Thls report Is made solely to the a5sodatiort's members. a5 a bodyi In accordan￿ with the Houslng and
Regeneratlon Act 2008. section 144 of the Charltles Act 2011 and regulations made under sectlon 154 of
that Act. Our audit work has been undertaken so that we mlghl state to the assoaatlon's members those
matters we are requlred to state to them In an auditovs report and for no other purpose. To the fullest
extent perniitted by law, we do not accept or assume responslblllty to anyone other than the assoclatl¢n
and the associatlon's members, as a t4)dyi for our audlt work, for thls ￿POrt. or for the oplnlons we have
formed.
Respectlve responslbllltles of the Board of Trustoes and audltor
As more fully explalned Sn the Statement of Trustees, Responslbllltles set out on page 5 the Board of
Trustees Is responslble for the preparatlon of finandal statements whlch glve a true and falr vlew. Our
responslblllty Is to audlt, and express an oplnlon on, the flnanclal ststements In accordance wlth appllcable
law and Internatlonal Standards on Audltlng (UK and Ireland). Those standards requlre us to comply wlth
the AudltSng Practices Board's (APB's} Ethical Standards for Audltors.
Basls of Oplnlon
We condurted the audlt In accordan￿ wlth Auditlng Standards Issued by the Audltlng Prartlces Board. An
audlt Includes examlnatlon, on a ie5t basls, of evldence relevant to the amounts and d15closure5 In the
accounts, It also Includes an assessment of the slgnificant estimates and judgernents made by the
Trustees In the preparatlon of the accounts, and of whether the accountlng policies ère appropmate to the
Charlty's clrcumstances, consistently applietl and adequately dlsclosed.
We planned and performed our audit 50 as to obtaln all the Information and explanatlon, which we
consldered necessary In order to provide us wlth sufflclent evidence to give reasonable assurance that the
accounts are free from material tnisstatement, whether caused by fraud or other irregularlty or error. In
formlng our apinion we also evaluated the overall adequacy of the presentatlon of Information In the
accounts.
Opinion
In our oplnlon the financlal statements..
glve a true and falr view. in actordance wlth UK Generally Accepted Accountlng Prartice, of the
state of affair5 of the assooation as at 31 December 2024 and of Its incoming resources and
appllcation of those resour￿.
have been properly prepared in accordance with UK Generally Accepted Accountlng Practice
Induding FRS 102; and

JACOB WRIGHTS COTTAGES
Trustees'annual report and accounts
31 December 2024
have been properly prepared in accordan￿ wlth the Charities Act 2011, the Houslng and
Regeneratlon Att 2008 and the Accounting Dlrertion for Prfvate Reg15tered Provlders of Soclal
Housln9 2015.
Matters on which we are requir¢d to report by exceptlon
We have nothing to report In respect of the following matters where the Charttles Act 2011 and the
Regeneration Act 2008 requlres us to report to you if, in our opinlon:
the Infomiatlon glven In the Trustees. Annual Report15 inconsistent in any materlal respect wlth
the financlal statements; or
the assoclation has not kept sufflcient accountlng records: or
the flnanclal ststements are not in agreement wlth the asxountlng records and returns. or
we have not recelved all the Informatlon and explanatlons we requlre for our audlt.
Under the HousSng and Regeneratlon Act 2008, we are requlred to report to you If, In our oplnlon..
proper accountlng records of its transartlons and Its assets and Ilabllltles In relatlon to its houslng
artlvltles have not been kept, and
satlsfactory system of control of those records, Its cash holdlngs and Its recelpts and
remlttances In relatlon to those actlvltles has not been malntalned
Wm. Fortune & Son, Reglstered Audltors
Colllngwood House
Church Square
Hartlepool
TS24 7eN
2025

JACO8 WRIGHTS Co￿AGEs
Tn￿tees. anntjal report and accounts
31 December 2024
Statement of comprehensive Income
for the year ended 31 December 2024
Notes
2024
2023
Turnover
24.416
21,196
Operatlng Costs
(22,197)
(24,7581
Depreclatlon
(4,455)
(5,007)
Operatlng (Defl¢lt)ISurplus
(2,236)
(8,569)
Loss on dlsposal of l Flxed Assets
(2,839)
3,099
Interest recelvable
3,342
Interest Payable
Total Comprehenslve Income for the year
1,106
(8,309)
Transfer from Oesbgnateé Reserves
Income and expendlture account at l January
65,743
74,052
Income and Expendlture A¢¢ount at 31
De￿rnts￿r
66,849
65,743
All Income and expendllure shown above relates to contlnulng actSvltles.
io

JACOB WRIGHTS corrAGES
TnJstee5'?nnual report and accounts
31 December 2024
statement of Changes in Reserves
For the year ended 31 December 2024
Revaluatlon
Exp•ndlture
DeslgvatEd
rot•l
Balano as at
1st January 2024
24,140
6S.743
33,CrfXI
122,B83
Total comprEhensfve
lTrcomt for the year
1,106
1.106
Trnnsfer from
De51gnated Restrve
Revoluatlon Sur￿¥$
arlslng ¢uring the
year
3,131
3,131
8alance as at
311t December 2024
27.271
33 000
127.120
li

JACOB WRIGHfs co￿AGEs
Trustees, annual ￿pOrt and accounts
31 December 2024
Statement of Financial Position
as at 31 Decernber 2024
Plotes
2024
2024
2023
2023
Flxed A55ets
Tanglble Assets
Investrnents
90,552
86,983
177,535
95,007
80,601
175,608
Current Assets
Debtors
Cash at bank and in hand
3,771
23,210
26,981
2,050
26,301
28,351
Credltors: Amounts falllng
due withln one year
(2,229)
(4,048)
Net Currnnt As¥¢ts
24.752
24.303
Totsl Assets
202,287
199,911
Crodltorn., Amounts falllng
due after more than one year
6bl6c
(75, 167)
(77,028)
Totjl N¢t Assets
127,120
122,883
Rè#erveB
Investment Revaluatlon Reserve
Income & Expenditure Atcount
Deslgnated Reserve
27,271
66,849
33,000
24,140
65,743
33,000
127,120
122,883
The financial ststements shown on page$ 10 to 19 were approved by the Trustees on 24th June 2025 and
were slgned on its behalf by:
Cknir

JACOB WRIGHTS co￿AGEs
Trustees. annual report ond accounts
310ecember 2024
Notes
Accountlng Policies
Basis of accountlng
The flnanclal statements of the Assodatlon are prepared under the hlstorfcal eost conventlon.
except for Investments which are held at market value. Thls Is In accordance wlth appllcable
accountlng standards, namelyi UK Generally AC￿pted Accounting Practlce (UK GAAPI Includlng
FSnanclal Reportlng Stsndard 102 (FRS 102) and the Housing SORP 2014.. Statement of
Recommended Practice for Registered Social Houslng Providers and comply wlth the Accountlng
Dlrectlon for Prlvate Registered Providers of Soclal Houslng 2015.
Whlle the Associatlon Is an Unincorporated Charity and a member of the Natlonal A550clatlon of
Almshouses, the Assodatlon Is a150 a Reglstered Social Hou51ng Provlder. Therefore the financlal
statements have been prepared In compllance wlth the Housing SORP 2014 to enable consistency,
ease and transparency in our reportfing to the houslng regulator,
Cash Flows
As a small Reglstered Sooal Houslng Provlder Jacob Wdght's Cottages have elected to use their
exemptlon to prepare a statement of cash flows.
Flxed Asset Inve5thMnts
Irbvestments dasslfled under flxed assets are stated at market value at the balance sheet date,
where thls 15 readlly Identlfiable. All other Investments are stated at cost.
Golng Concern
The As5¢xlatlon's forecasts and projectlons show that the Assoclatlon should be able to contlnue
to operate wlthin the level of Its current facllitles and no matters have been drawn to Its attentlon
to SU998st that futur• lundln9 m¥y not be forthcomlng on a¢¢•ptable terms.
After making enquiries, the Trustees have a reasonable expectatlon that the Assodatlon has
adequate resources to contlnue In operatlonal exlstence for the foreseeable future. Accordlnglyi
they contlnue to adopt the golng concem basls In preparing these financlal statements.
HousAng Propertles
Housing propertles are ststed at cost, less accumulated depredatlon.
Major components of houslng propertles, such as wlndows and heatlng tt*mponents, have been
accounted for and depreclated separately from the maln fabrSc, over their expected ¢tt*nomic lives.
Depreciation Is charged at the rates applied below to write off the cost of the asset over thelr
expected useful economlc Ilves.
Land
Main Fabric
Roof
ettrtcals
Wlndows
External Door5
Bathroom
Kltthen
eoilers
Heatlng Installations
Not Depreclated
100 years straight Ilne
40 years stralght Ilne
30 years stralght line
25 years stralght line
25 years Walght line
20 years straight Ilne
15 years straight Ilne
15 years strèight Ilne
30 years stralght Ilne
13

JACOB WRIGHTS COThAGES
Tru5tees'annual report and accounts
31 December 2024
The SocÈal Houslng grant has been applled against the land in the flrst Instance and then to the
Maln Fabrfc of the building. The grant Is amortised over 100 years and released back Into the
Statement of Comprehenslve Income.
Soclal Houslng Grant
Soclal Housjng Grant (SHG) Is pald by the Houslng Corporation to reduce the cost of housing
developments. Where properties have been financed wholly* or partlyi by SHG the cost of the
propertles have been reduced by the amount of the grant receivable.
On the dlsposal of propertles, whlch have been financed wholly or partty by SHG, the grant mav
become repayable.
Turnover
Turrover repre5ent5 gross rnalntenan￿ charge re￿1Vable.
Value added tax
The Homes are not regl$tered for VAT and where appllcable expendlture indudes VAT.
Impalrment
Annu?Ily hOU￿n9 propertles are assessed for Impalmient Indlcators. Thls Is generally perfomied
at scheme or cash-generatlng unlt level. Where Indlcators are Identlfled an assessment for
Impalrment Is undertak¢n ¢omparlng the sthem¢'g carrylng amount to 5ts rocoverable amount.
Where the carrying amount of a scheme Is deemed to exceed its rydcoverable amount. the scheme
Is wrltten down to its ￿coVerable amount. The re5ultlng Impalmient loss Is recogn15ed as operating
expendlture. Where a scheme is currently deemed not to be provldlng Serv[￿ potential to the
Assoclat5on, Its recoverable amount Is Its falr value less costs to sell.
Debtors
Debtors are measured at transactlon prlce, less any Impalrnient.
Credltors
Credltors are measured at transattion ￿Ce.
14

JACO8 WRIGHT'S COThAGES
Trustees'3nnual report and accounts
31 De￿mber 3024
Designated Reserves - Cyclical Maintenance Reserve
Thls reserve has been established In order to meet future expenditure upon planned, or cycllcal
repalrs and maintenance In accordance wlth an agreed programme of works.
Administration
The management of the Assodatiort contlnues to be dealt wlth by Durham Aged Mineworkers,
Homes Association (DAMPIA) a separately ￿gistered housing assoclatlon (A51251. Malntenance
charge Income and adrninlstratlve costs are received and paSd by the agerst associatlon who make
a management tharge for acting as agent.
L5

JACOB WRIGHfs COTTAGES
Trustees. annual report and accourrts
31 Dettmber 2024
Turnover and Operatlng Surplus for tha Yaar by Class of Bu51nesS
2024
2023
Turnover from letb'ngs
Rents and servlce charges recelvable
Amortised government grants
Amortised other grants
22,553
780
1,083
24,416
20,442
780
1,083
22.305
Operating Expendlture
Bad debts wrltten off
Management
Day to day ￿pairS & malntenance
Servlces Ilncluding Water Rates)
Depredatlon
Total Expendlture on Soclal Houslng Lettln9$
3.525
13,718
4,954
4,455
26,652
3,323
17,446
3,989
5,007
29.765
Vold Losses
1,109
Senlor Ex¢cutlve$
The Senlor Executlves are deflned as the Trustees, who received no emoluments durfng the year
(2023.. £nll)
Interest recelvable and $lrnll•r Income
2024
2023
Investment Income
3.131
3,099
Surplus on Ordlnary ActlvEtles
2024
2023
The Surplus on ordinary actlvltle5 Is stated after charylng:
Auditorfs remuneratbon
1,106
754
16

JACOB WRJGHTS co￿AGEs
Trustees, annual report and accounts
31 Dettmber 2024
Tanglble Assets
Housing
Properttes
Cost:
At 1st January 2024
Addltlons
Disposals
At 31st December 2024
143,050
143,050
Le$s: Depreclatlon
At 111 January 2024
Charge for the year
Dlsposals
At 315t December 2024
(48,042)
14,4S5}
(52,498)
Net Book Value:
315t December 2024
1st January 2024
£ 90,552
£ 95.008
6b.
Soclal Houslng Asslstsn¢•
2024
2023
Total accumulated sodal houslng grnnt recelved at 31 December 24
78,021
78,021
Recognlsed In the statement of comprehenslve income
(18,725)
(17,945)
Held as deferred income
59,296
60,076
6c.
other Grants
2024
2023
Total acojmulated other grant re￿IVed at 31 December 24
20,000
20,000
Recognised In the ststement of comprehenslve Income
{4,130) (3,048)
Held a5 deferred Income
15,870
16,952

JAC08 IVRtGHfs Co￿AGEs
Trustee5' annual report and accounts
31 December 2024
Notes (continued)
Flxed Asset Investments
2024
2023
Valuatlon at January 2024
Additlon5
Surplus (Defidt) arlslng on revaluation
At 31 December 2024
80,601
3,251
3,131
86.983
75,853
3,022
1,726
80,601
The Investments comprlse the fD51owlng:"
2024
2023
71.99 {2023'. 71.99) COIF Income Shares
706.375 {2023: 706,375) NAACIF Ac¢umulatlon Shares
1,461
85,522
1,429
79,172
86,983
80.601
The hlstorlcal cost of Snve5rments Is analysed as follows:.
2024
2023
COIF Accumulatyon Sha￿$
NAACIF Accumulatlon Shares
367
59,345
367
56,093
59,712
56.460
Debtors
2024
2023
Rental debtors
Prepayments and accNed Irtcome
1,305
2,466
3,771
1,062
988
2.050
Credltors: Amounts falllng due wlthln one year
2024
2023
Trade creditors and acmials
2,229
2,229
4,048
4,048
18

JACOB WRIGHTS co￿AGEs
rrnstee5' annual report and accounts
31 December 2024
Notes (conttnued)
io.
Capital Commltment$ and Contlngent Uabllltles
As at 31SI December 2024 there were no capital commitments.
19

Wm FORTUNE & SON
Chartered Accountants
LDIILngkniKKI 11o11sr, Churili IN24 7kN
lekwkn, 11114_1912141r
The Trustees
Jacob Wright's Cottages
PO Box 31
The Grove
168 Front Street
Chester le Street
County Durham
DH3 3YH
TAA/CG
17 June 2025
DeaT Sirs
Audit of Accounts
We confinn that the audit of the accounts for the year ended 31 December 2024 was
carried out s&tisfactorily. There is nothing to report.
Yours faithfully