Docusign En¥ÈlopÈ ID". 3F1C1608-708A4ADO-AF6A-70F44C76C29F
Charlty nurnber: 222522
ST ALBANS OLD PEOPLE'S TRUST
UNAUDITED
TRUSTEES. REPORT ANO FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

Docusign En¥ÈlopÈ ID". 3F1C1608-708A4ADO-AF6A-70F44C76C29F
ST ALBANS OLD PEOPLE'S TRUST
CONTENTS
Refergnce and Adminlstrative Datalls of the Charity. its Trustees and Advlsers
Trustees. Report
Independent Examiner's Report
Statement of Flnancial Activitles
Balance Sheet
10
Notss to the Flnan¢lal Ststements
12-21

Docusign En¥ÈlopÈ ID". 3F1C1608-708A4ADO-AF6A-70F44C76C29F
ST AL8ANS OLD PEOPLE'S TRUST
REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY. ITS TRUSTEES AND ADVISERS
FOR THE YEAR ENDED 31 MARCH 2023
Trustees
Robert P. Hill Irelired 29h October 2023
John W. Gladwin (retired 14th Febiuary 20231
ArF8nrhod Pazz1-A￿orthY
Sudabe Gray
Caroline Rolfe
Shona Hyde lappoinled 111 June 20221
lan Johnson lappointed 201h Oetober 20221
Nicholas Hill lappoinled 22nd February 20231
Rodney C Moss Irelired 31* May 20221
Susan Kealing Irelited 301h June 20221
Charity registered number
222522
Principal offlce
6 Sandringham Road, FI1￿ck, Bedfordshire, MK45 1RW
Trust Web5its
www.oldpeopleslrusl.org.uk
Secretary
W. Fardell
Accountants
Mwcer & Hole LLP. 72 London Road. Sl Ajbans, Hertfordshwe, AL11NS
Bankers
CCL4 Investment Management Limited, One Angel Lane, London EC4R 3A8
CAF Bank Ltd, 25 Kings Hill Avenue. Kings Hill. Wesl Malling, Kent, ME19 4JQ
Investment holdlngs
CCLA Investment Management Limited. One Aruel Lane, London EC4R 3AB
M&G Securities Limited, 10 Fenchurch Avenue, London, EC3M SAG
Page I

Docusign En¥ÈlopÈ ID". 3F1C1608-708A4ADO-AF6A-70F44C76C29F
ST ALBANS OLD PEOPLE'S TRUST
TRUSTEES, REPORT
FOR THE YEAR ENDED 31 MARCH 2023
The Tnjslees present their report and financial slalemenls for the year ended 31 March 2023.
The financial statements have been prepared in accordanee with the accounting polictes set oijl in note I lo the
accounts and comply with the charity's trust deed. They have also been prepared in accordance with 'Ac¢ounling
and Reporting by Chaiilies.. Statement of Recommended Practice applicable lo charities preparing their accounts
in accordan￿ with the Financial Reporbng Standard applic8ble in the UK and Republic of Ireland IFRS 1021
(Second Edilionl,, the Financial Reporting Standard applicable in the Unilgd Kingdom and Republic ol Ireland (FRS
1021 and the Charities Ael 2011 and UK Generally Accepted P￿ctiCe as il applies from 1 January 2019.
Structure, governance and management
The Tiusl is a registered charity no. 222522 established by the Trust Deed on 24 July 1947. The charitable object
is sel out in a scheme confirmed by the Charity Commission on 30 May 2000. The Trust does not actively fund-
raise and has resolved to carry out and continue Ihe objects sel out in the Trust Deed through cafeful stewardship
of its investments.
Prospective new Trustees, who should be resident in the City and District ol Sl Albans, may apply tg the Secretary
or make their interest known lo any Trustee. The maximum number ol co-opted fruslee5 is seven and the
minimum term of office is kn to four years lallhough the norrnal term is four years)
Ouring the year the following changes occurred.. the retirement of Rodney C Moss as Trustee, John Gladwin as
Trustee and Susan Keeling as Trustee,. the appointments ofshona Hyde, lan Johnson, and Nicholas Hill as Trustees
and the appointrnent of Sudabe Gray as Chairperson.
Subsequent to year end. Nichglas Hrfl was appointed as Treasurer.
Trustees who served durlng the year.
Suflabe Gray- {appoinled Chairperson 3th April 20221
Rodney C Moss- retired 3151 May 2022
Robert P. Hill- retired 25￿ October 2023
Susan Keeling- retired 301h June 2022
John W. Gladwin- retired 4th February 2023
Arianrhod Pazzi-Axworthy
Caroline Rolfe
Shona Hyde- appolnled 1¥1 June 2022
lan Johnson - appointed 201h October 2022
Nicholas Hill- appointed 22M February 2023 and as Treasurer 2151 June 2023
The Trustees monitor all risks to which the Trust may be exposed and are satisfied that systems are in Pla￿ lo
miligale all material risks.
The Secretary, Mr. Wlliam Fardell. is appointed lo carry out the day-ttrday adminislralion.
Objectives and activities
The objective of the Charity is the relief of persons L)ver the age of 60. resident wllhin the City and District of St
Albans, who are in need, hardship or distress.
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Docusign En¥ÈlopÈ ID". 3F1C1608-708A4ADO-AF6A-70F44C76C29F
ST ALBANS OLO PEOPLE'S TRUST
TRUSTEES. REPORT {¢ontlnupdl
FOR THE YEAR ENDED 31 MARCH 2023
Objectlves and activitlgs Icontinuedl
Activities
The Trust has been operating for over 20 yea￿, delivering its mission lo support older people in the Sl Albans
District who a￿ in need, hardship, or distress. This support is prim8rily provided via grants for free go(xls and
selvices. Grants vary from around £100 &.9., for a hoover up to £2,500 for a contribution lo a boilei, funeral. or a
range of items lo fijrnish an unfurnished flat. The Trust reviews each application on its ¢)wn merit and make
decisions accordingly.
2022 /23 Results
During the year. 229 clients were supported by the TrusL Fewer grants were given than the previous year {see
Figure 1 below). This is partially dLte to Ihe closure of a local mobility Store la key referffrl. the ces5alion of a local
government boiler scheme Ito which the Trust conlributedl and clients seeking and being awarded Govemmenl
support for grants for their primary priority - energy and food bills. The complexity of clients, needs has increased
over the past 5 years.. many more present wlh mental health issues cause<J or exacerb8led by the pandemie which
makes completing application forms and accessing gUPPOrting information difficutt.
Figure l- Number of Grants
266
242
,J36
2UIfjIL7
2011118
?018119
20L9120 20 10121
1021122
2022123
The sum of the grants provided for Clients totalled £221,000 (see Figure 2 belgwl. The cost-of-living crisis affected
the Trust. suppliers held prices for as long as possible bul had to Pass on price increases of around 109A.
Figure 2- Value of Grants Awarded l£'OOOI
.111
7019120
?02012 I
?021122
20??1?3
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Docusign En¥ÈlopÈ ID". 3F1C1608-708A4ADO-AF6A-70F44C76C29F
ST ALBANS OLD PEOPLE'S TRUST
TRUSTEES, REPORT (continued)
FOR THE YEAR ENDED 31 MARCH 2023
Objectrves and activities Icontlnuedl
The wide range of types of items and Services awarded reflects the broad needs amongst this older client base
(see Fig 3 below). The greatest number of grants awarded 2re Ih05e lo provide replacernenl kitchen appliances.
The Trust also provides a range of services for especially vulnerable and frail Clients, including cleaning, meals on
wheels and care alams.
Reflecfjng the general increased need for help wllh cosl-of-living costs, the Tnjsl provided superrnarkel vouchers
for clients.
Figure 3- Grants awarded in 2023 by type
Glasses and derttsi
Haftdyperson services
Funeral costs
Care Alarms
ousehold elettrlcals
and furnirure
Othor-
Cle8n
Meals on WheÈ15
9ollers + Plumblng
Mobility Items
Superm8rket vouchers
Applian￿$.:
Clients are required and encouraged to apply for help frorn ulher sources, e.g.. Govemmènl grants IOT funerals.
boilers. glasses, and dental Ire8tmenl. as well as other place-based charities like The Harpenden Trn51.
The TNSI has undertaken a number of inilialives to further its support for older people.
New Website
The Trust's new website. launched in October 2022, provides applicants and referrers with all the information which
they need lo prepare an application. It also provides a comprehensive directory of support available lor local older
people.
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Docusign En¥ÈlopÈ ID". 3F1C1608-708A4ADO-AF6A-70F44C76C29F
ST ALBANS OLD PEOPLE'S TRUST
TRUSTEES. REPORT lcontinuedl
FOR THE YEAR ENDED 31 MARCH 2023
Objectlves and activities (contlnuedl
Christm8s Gift
The Trust undertook to provide all 540 ofthe Trusvs client base each with a £50 supermarket voucher. Clients were
exceptionally grateful both forthe financial assistance in th8 weeks leading up lo Christmas and fof the fact that the
Trust had rememkred them.
Pension C￿411 Initiative
The Trust enleied ils 3rd year of a partnership proje¢l with Citizens Advice StAlbans ICASTADI io encourage older
people lo apply for Pension Credit. Approximately 1,550 people of pensionable age in the district are missing out
on Pension Credit. as we51 as other benefi15 including Attendance Allowance and Housing Benefit. In lots1204
l¢enls a￿ now better off by a combined lolal of £422,000 a year. The Trustees would like lo fomalty ackn¢)wledge
the invaluable support that CASTAD'S staff and volunteer advisors provide lo the Trust's clients.
Community Hub Partnership
The Trust has a weekly hol desk within Sl Albans Council's Community Healthy Hub. This provides an opportunity
for older people, many of whom require in person supporL to complete and applicaiion fom. as they are digitally
excluded, have a hearing impairment or leaming difficulty.
StAlbans Old People's Partne￿￿1p Meeting
The Trust launched a new initiative. bTinging together over 30 charilles and statutory agencies each SUPPOfting
older people. After an in-depth information sharing session. the participants discussed the issues which most
negatively affect older people. Further meetings are planned for 2023124.
Co-Produclion Bo8￿1
The Trust was invited lo sil on Hertfordshire County Counul's Co-Producli¢)n Board to represent the views of older
people. As staff engage with over 1.000 older people each year, they have a clear idea of the key issues which
older people face and ways lo overcome the barriers lo social inclusion.
Gr8nts to Groups
The Tiusl made far fewer grants lo other Charities supportlng Older people Ihan in p￿VIouS years. as a nijmber of
chariltes have closed, whilst others had flfnds remaining from Government and other Covid gfants. The following
Groups benefitied from donations by the Trust..
Grou
Item
C05
Herts Community Kitchen
Cooking classes for ol¢Yef firsl-lime cooks
£1,100
Citizens Adv¢ce St Albans
Money advice workshops
£3,000
Small Acts of Kindness
Warm In INnler Bags lor older residenL¢
£5,000
Total
£9,100
Page 5

Docusign En¥ÈlopÈ ID". 3F1C1608-708A4ADO-AF6A-70F44C76C29F
ST ALBANS OLD PEOPLE'S TRUST
TRUSTEES, REPORT Icontlnued
FOR THE YEAR ENDED 31 MARCH 2023
Public bgneflt
The Trust has complied with the duty in section 17 of the Charities Act 2011 to have due regard to the public benefit
guidance published by the Charity Commission.
Flnanclal revlew
The Twsl's investment assgls generated income of £202,728 12022.. £151,373) during Ihe year. The eosl of
generating this income lotalled £9.569 12022.- £9.7471 in respect of propety costs. Other expenditure lolalled
£322,47212022.. £325.6321, resulting in nel expenditure of £129,31312022'. E184,0061 before investment kjsses.
The Trust's financial investrnents, that are linked lo the performan￿ of financial market5, incurred a loss of
£223,36212022." gain of £465,514). A gain of£170,000 (2022.. £nil} was recognised on the revaluation oflhe Trust's
freehold property investments.
The above has resulted in a nel deciease in funds of £182,67512022.' nel increase of £281.5081. The Trusvs
investments are being held on a long-term basi% and their performance is conSide￿d salisfaelory on that basis.
Totsl funds at the end of the year amounted lo £5,8e2,71212022'. £6,045,387) and consisted of Endowment funds
of £2,378.261 12022.. £2,467.0831 and unrestricted funds of £3.484.451 12022.. £3,578,304).
The trustees are not awa￿ of any material uncertainties aboutthe trust's abil'ty to continue as a going ¢(￿ceM.
Policy on ￿selveS
11 is the policy of the Tiusl that the capital value of the Endowment Fund is m8inlained Isubjecl lo unreallsed
fluclualions in the market value of the underlying asselsl and that adequate unrestricted reserves are held lo
equivalent lo a minimum of twelve months running costs. The Ituslees review the capital value ol the Endowment
Fund annually and an amount is transferied lo the Capital Depreciation Account from the general fund lo protect
against inflation if the trustees deem il necessary.
S Gray
Chair of the Boarfl of Tru$lees
Date..
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Docusign En¥ÈlopÈ ID". 3F1C1608-708A4ADO-AF6A-70F44C76C29F
ST ALBANS OLD PEOPLE'S TRUST
TRUSTEES, REPORT Icontinuedl
FOR THE YEAR ENDED 31 MARCH 2023
Trustees. responslbilities statement
The Trustees are responsible for preparing the Trustees. AnnLtal Report and the financial statements in aecoidance
with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting
Praclicel.
The law applicable to ¢harilies in England & WaleslNorthern Ireland requires the trustees lo prepare financial
statements 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 of the charity for that period.
In preparing these financial stslemenls, the trustees are required to..
select suitable accounting policles and then apply them consislenuy.,
observe the methods and principles in the Charities SORP 2019 IFRS 1021..
make judgernents and eslimales that are reasonable and prudent,.
slate whether applicable accounting standards have been followed, subject io any malerral
departures disclosed and explained in the financial slalemenls,.
prepafe the financial statements on the going concern basis unless rf( is inappropri* to presume
that the challty wll continuè in operation.
The Trustees are responsible for keeping proper accounting record5 that disclose with reasonable atturacy al any
lime the financial position ol the charity and enable them to ensure that the financial statements comply with the
Charities AGt 2011, Ihe Charities (Accounts and Reports) Regulations 21)08 and the provisions of the trust deed.
They are also responsible lor safeguardin9 the assets of the charity and hence for laking reasonable steps for the
prevention and detection of fraud and other irregularrties
Page 7

Docusign En¥ÈlopÈ ID". 3F1C1608-708A4ADO-AF6A-70F44C76C29F
ST ALBANS OLD PEOPLE'S TRUST
INDEPENDENT EXAMINER'S REPORT
FOR THE YEAR ENDED 31 MARCH 2023
Independent Examlngfs Report to the Trustees of St. Albans Old Pgople's Trust for the year ended 31
March 2023
I report to the Trustees on my examination of the financial siatemenis of St. Albans Old People's Tfust I'lhe
charity'l for the year ended 31 March 2023 vthich comprise the Statement of Financial Aciivities, the Balance
Sheet and related notes.
This report is made solely to the Charity's Trustees. as a body, in accor(lan￿ with section 145 of the Charib'es
Act 2011. My work has been undertaken so that I might stale lo the Charity's T￿s￿e$ those matters l am required
lo state to them in this report and for no olher purpose. To the fullest exlenl pemitted by law, I do not accept or
assume responsibility lo anyone other than the charity and the Charity's Trustees as a body. for my work. for this
report, or for the opinions I have fomied.
Responslbilities and basls of report
As the Trustees of the Charlty, you are responsible for the preparation of the financial slalements in accordance
with the requirements of the Charities Act 20111.lhe Act'l.
I report in respect of my examination of the charity's financial statements earned out under secbon 145 of the Act
and in carrying out my exaTninatioft I have followed all the applicable Directsons given by the Charity Commission
under section 14515llbl of the Act.
An independent examination does not involve gathering all the evidence that would be required in an audit and
eonsequenlly doès not cover all the matters that an audilor considers in giving their opinion on Me financial
Slalements. The planning and conduct of an audit goes beyond the limited assufance that an independent
examination can provide. cOns￿UentIy. l express no opinion as lo whether the financial statements pregenl a
'Irue and fairf view, and my report is limited to those specific matters set out in the independent examiner's
slalement.
Independentexamlner's statefflent
I have completed my examination. I confirm that no material matters have come to my attention in connection
with the examination giving me cause lo believe that in any material respe¢l'.
accounting records were not kepl in respect of the charity as required by section 130 of the Act.. or
the financial statements do net aecord with those records,. or
> the financlal statements do not comply with the applicable reqLtirements concerning the form and conlenl
of accounts sel out in the Charities {Accounts and Reports) Regulations 2008 other than any requirement
that the aceounls give a 'lrue and fair view, which is not a matter considered as part ol an independent
examination.
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Docusign En¥ÈlopÈ ID". 3F1C1608-708A4ADO-AF6A-70F44C76C29F
ST ALBANS OLD PEOPLE'S TRUST
INDEPENDENT EXAMINER'S REPORT l¢ontlnuedl
FOR THE YEAR ENDED 31 MARCH 2023
I havfy no concerns and have come across no other matters in Gonneclion wlh the examination lo which attention
should be drawn in this report in order lo enable a propor understanding of the financial statefflentsto be reached.
Do¢uS￿nId W.
2FOC21325673435
J Upshall FCA
21/1212023
Mercer & Hole LLP- Chartered Accountants
72 London
Road
St. Albans
Hertfordshire
AL1 1NS
Page 9

Docusign En¥ÈlopÈ ID". 3F1C1608-708A4ADO-AF6A-70F44C76C29F
ST ALBANS OLD PEOPLE'S TRUST
STA TEPdlENT OF FINANCIAL ACTIVITIES
FOR THE YEAR ENDED 31 MARCH 2023
Unrastricted Endowment
funds
funds
2023
2023
Total
funds
2023
Totsl
ftjnds
2022
Note
INCOME AND ENDOWMENTS FROM:
Investments
136.152
e8,576
202.728
151.3T3
TOTAL
136,152
66.576
202.728
151,373
EXPENDITURE ON:
Raising IvrFds
Charitable activili
9.569
322,472
9,569
322,472
9, 747
325,632
TOTAL
332.041
332,041
335,379
Nel gains l {105sesl on investments
35.460
88,822}
153.3621
465,514
NET INCOME I (EXPENDITURE}
{160,4291
122.246} 1182,6751
281,508
Transfers between funds
66.576
166.5761
NET MOVEMENT IN FUNDS
193.8531
188.822)
1162.6751
281,508
RECONCILIATION OF FUNDS:
Total funds at 1 April 2022
3,578,304
2.467.083
6,045,387
5.763,879
TOTAL FUNDS AT 31 MARCH 2023
3.484,451
2.378,261
5,862,712
6.045,387
The compaialive Sialemenl of Financial Activities for the prier year is presented in note 15.
The notes on pages 12 to 21 form part of these financial slalements.
Page 10

Docusign En¥ÈlopÈ ID". 3F1C1608-708A4ADO-AF6A-70F44C76C29F
ST ALBANS OLD PEOPLE'S TRUST
BALANCE SHEET AS AT 31 MARCH 2023
2023
2022
Note
FIXED ASSETS
Investments
5,790,175
5,992,361
CURRENT ASSETS
Debtors
82,616
32.901
Cash at bank and in hand
10,752
49,514
93.368
82,415
CREDITORS.. amounts falling due
within one year
io
NET CURRENT ASSETS
72.537
53,026
NET ASSETS
CHARITY FUNDS
Endowment funds
11
2,378,261
2.467,083
Unrestricted funds
3,484,451
3,578,304
TOTAL FUNDS
The financial statements were approved by the Trustee5 on 131itl71 and signed on their behalf. by..
S Gray
The notes on pages 12 10 21 form part of these financial statements.
Page 11

Docusign En¥ÈlopÈ ID". 3F1C1608-708A4ADO-AF6A-70F44C76C29F
ST ALBANS OLD PEOPLE'S TRUST
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023
ACCOUNTING POLICIES
1.1 Basis of preparatlon of financlal statemonts
The finanrAal statements have been prepared in accordance with 'Accounling and Reporting by Charities..
Statement of Recommended Practice applicable lo charities pieparing their accounts in accordance with
Ihe Financial Reporting Standard aPpI￿able in the UK and Republic of Ireland (FRS 1021 (Second Edilionl,
and the Financial Reporting Standard applicable in the United ￿ngdorn and Republic ol Ireland IFRS 1021
and the Charities Act 2011 and UK Generalty Accepted PractKe as it applies from January 2015.
The financial statements have been prèpared to give a 'true and fair, view anij have departed from the
Charilies [A￿oUnt5 and Reports) Regulations 2008 only lo the exlenl required lo provide a 'lrue ancf fair
view,. This departure has involved following 'Accounling and Reporting by Charib'es.. Statement of
Recommended Practice applicable lo charities preparing their accourts in accordance with the Financial
Reporting Stsndard applicable in the UK and Republic of Ireland IFRS 102) (Second Edilionl. rather than
the Accounting and Reporting by Charities.. Statement of Recommended Practice effect¢ve from 1 Apiil
2005 which has since been withdrawn.
The financial statements have been prepared under the historical cost conventson with items recognised at
cost or transaction value unlèss otherwise stated in the Televanl nolelsl to these accounts.
The Trust meets the definition of a public benefit entity under FRS 102.
1.2 Fund accounting
General funds are unrestricted funds which are available for use at the discretion of the Trustees in
hjrtherance of the general objectives ol the charity and which have not been designated forother purposes.
Designated funds comprise unrestrtcled funds that have been sel aside by the Trustees for par￿￿lar
purposes. The aim and use of each designated frJnd is sel out in the notes to the financial statements.
Endowment fijnds are to be used in accordance with specific reslriclions imposed by the don￿.
1.3 Income
All income is recognised once the charity has entitlement lo the income, il is probable that the income will
be reGeived. and the amount of income receivable can be measured reliably.
Investment income is recognised when receivable based on nolificalion from the investment managers.
1.4 Expendlture
Expenditure is recognised once there is a lègal or conslruclive obligation to make payrnenl lo a third party.
il is probable that selllemenl will be required, and the amount of the obligation can be measured reliabty.
All expenditure is accounted foi on an accruals basis. All expenses including support C051s and
govemance costs ale Lllocaled lo the applicablo expenditure headings.
Support costs are those o)sls incurred directly in support of expenditure on the objects of the charity-
Page 12

Docusign En¥ÈlopÈ ID". 3F1C1608-708A4ADO-AF6A-70F44C76C29F
ST ALBANS OLD PEOPLE'S TRUST
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023
ACCOUNTING POLICIES Icontinuedl
Governance costs are those incurred in connectton with administr81ion of the charity and compliance with
onslilulional and slalutory requirements.
Grants payable are charged in the year when the offer is made exeepl in ihose eases where the offer is
condib'onal, such grants being fecognised as expenditure when the conditions attaching are ￿lfilled.
1￿ Going concorn
The Trustees are not aware of any material uncertaints'es atKJuI iheTrusfs abilty to conts'nue asa going
concern.
1.6 Flxed asset investment5
Common investment funds and unit rrusts are a form of basic financial inslrum&nl and are inilk4lly
remgnised at their Iransaclion value and subsequently mgasured al their fair value as al the balance sheet
date using the closing quoted maikel pllce. Investment properties are initially recognised at their
transaction value. Investment properties are professionally valued periodically, and ihese valuations are
rellecled in the accounts.
The Statement of financial activities includes the net gains and losses arising on revaluation and disposals
throughout ihe year. allocated to the appropriate fund.
1.7 Debtoys
Short term debtors are measured at transaction price, less any impaimienl losses.
1.8 Cash at bank and in hand
Cash al bank and in hand includes cash and short term hlghly liquid investments with a short maturity of
three months or less from the date of acquisition or opening ol the deposit or similar account.
1.9 Creditors and provl$ton$
Short term creditors a￿ measured 81 the transacbon price.
1.10 Flnanclal instrument5
The Charity only ènters into basic financial instruments transactions that result in the reCOgni￿On of financial
assets and liabilities such as debtors and creditors.
Financial instruments are initially measured at Iransaciion value. They are a55essed at the end of each
reporting period for objective evidence of impairment. If objective evidence of impai¥menl is found. an
impairment loss is recognised in the Slalemenl of Financial Activities.
1.11 Judgements in applying accounting pollcies
The preparation ol the financial slalemenls requires management lo make judgments, eslimales and
assumptions that affect the amounts reported for assets and liabilities al the balanee sheet dale and the
amounts reported for revenues and expenses during the year. The nature ol esb'malion means the
actual outcomes could differ from those eslimales. The key source of eslimalion uncertainty that could
have an impael on the Iinancial 51atemenls relates lo the values of investments held.
Page 13

Docusign En¥ÈlopÈ ID". 3F1C1608-708A4ADO-AF6A-70F44C76C29F
ST ALBANS OLD PEOPLE'S TRUST
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023
INVESTMENT INCOME
Unrestricted Endowment
funds
funds
2023
2023
Total
funds
2023
Total
funds
2022
Rental income
Income from unil trusts and common
investment funds
Inte￿st receivable
Donations received
Sundry
28,476
107,228
28.476
173.625
24,386
126,375
66,397
179
179
23
264
589
202 728
151,373
Total 2022
85,858
151373
ANALYSIS OF GRANTS
Grantsto
Institutions
2023
Grantsto
Indivlduals
2023
Toial
2023
Tol81
2022
Grants payable
9.100
212,093
221,193
241,273
Tot812022
8, 729
232,544
241,273
Page 14

Docusign En¥ÈlopÈ ID". 3F1C1608-708A4ADO-AF6A-70F44C76C29F
ST ALBANS OLD PEOPLE'S TRUST
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023
ANALYSIS OF GRANTS Iconunuedl
InGlud¢d within grants are amounts payable lo 3 inslttulions {2022.- 41 as follows..
2023
2022
Herts Community Kilctten
Small Acts of Kindness
Citizens Advice Sl Alban8
Highlown Housing Association
Trinity Cc)mmunity Proje
London Colney Parish Council
The Friday Drop In Club
1,100
5,000
3.000
159
390
4,830
3,350
Total
9,100
8, 729
ANALYSIS OF RESOURCES EXPENDED B Y EXPENDITURE TYPE
2023
2022
Maintenance and letting costs ofinveslment properties
9,569
9.747
Costs of raislng fund$
9,747
Grants paid and committed Inole 31
Management ofbeneficiary proGess
Govemance
Support costs
221,193
86.475
4.320
10,484
241,273
70,115
5,335
8,909
Charltable activttles
322.472
325,632
Total
332.041
334379
Page 15

Docusign En¥ÈlopÈ ID". 3F1C1608-708A4ADO-AF6A-70F44C76C29F
ST ALBANS OLD PEOPLE'S TRUST
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023
ANALYSIS OF RESOURCES EXPENDED BY EXPENDITURE TYPE Icontlnuedl
Management of beneficiary process includes the cost of individuals ¢ontracted by Hertft)rdshire
Independent Living Setvice IHILSI lo service the charity.
Support costs lotaling £8,22512022.' £9,249) ￿lated lo adminislralwe services provided by W Farrjell in his
capacity as Secretary to the Trustees. These have been allocated be￿e￿n investment propety costs,
harilable activities and govemance costs in the following proportion 20%.'60%.'20°A 12022.. 20Qh.'60%'.
20%). This allocation is based on time spent administering the relevant areas of the charity.
AJI costs in 2023 and 2022 relate lo unrestricted funds.
TRUSTEE COSTS
During the year, no fruslees received any remuneration or benefits in kind12022'. £nill.
INDEPENDENT EXAMINER'S REMUNERATION
2023
2022
Examination of the finanetal slalements
All other seNices
900
1,800
2,700
900
1,800
2. 700
STAFF COSTS
The charity has no employees.
Page 16

Docusign En¥ÈlopÈ ID". 3F1C1608-708A4ADO-AF6A-70F44C76C29F
ST ALBANS OLD PEOPLE'S TRUST
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023
FIXED ASSET INVESTMENTS
Common
Investmgnt
funds and
managed
funds
Freehold
proport19s
Total
Market value
Al 1 April 2022
Addittons
5,392.361
600,000
5,992.361
51.176
51,176
Disposèls
1200.0001
1200.000)
RevaluatKJns
{223,3621
170,000
153,3621
At 31 March 2023
5020.175
770 000
5790 175
Historical cosl
2.501,025
175,000
2.676,025
Material investments
31 March
2023
31 March
2022
COIF Charities Investment Fund
Freehold property at 20 Dalton Street, St Albans
Freehold property al 22 Albert Street. Sl Albans
M&G Charifund
3,932,286
520.000
250,000
1,087,889
4,085,428
520,000
80.000
1.306,933
5.790.175
5.992,361
Freehold properties are staled al tsr martel value.
20 Dalton Street was revalued in the year lo 31 March 2016 by Rumball Sedgewick and this open market
valuation was ineorpoialed into Ihe accounts. Since that dale, non-professional analysis of the market
values of similar locations shows the valuo of the property al 20 Dalbn Street lo have increased to
£520,000.
The second propety at 22 Albert Street, St. Albans was valued al £250.000 in November 2023 by a
charte￿d surveyor al Kirby Diamond, and this valualion is reflected in the balance sheet as al 31 March
2023. The Trustees are satisfied that the value of the property did not materially change from 31 M8ich
2023 to the valuation date in November 2023.
PaBe 17

Docusign En¥ÈlopÈ ID". 3F1C1608-708A4ADO-AF6A-70F44C76C29F
ST AL8ANS OLD PEOPLES TRUST
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023
DE8TORS
2023
2022
Cash in transit
Rental (Jeposil
Prepaymenb and accrued income
50,000
1,54
31,070
1,546
31,355
32,901
82,616
10. CREDITORS:
Amounts falling due wEthln one year
2023
2022
Rentsl deposit
Accruals and deferred income
1,546
19,285
20,831
1.546
27,843
29,389
Included in aceruals and deferred income is deferred income of £4,90312022.' £3,891) comprising of the
feceipl of ￿nI01 income relaling to future periods.
Page 18

Docusign En¥ÈlopÈ ID". 3F1C1608-708A4ADO-AF6A-70F44C76C29F
ST ALBANS OLD PEOPLE'S TRUST
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023
11. SUMMARY OF FUNDS
Brought
Forward
1A.22
Carrled
FoThvard
31.3.23
Incoming Resources
Yesourc•s
Expended
Transfers
Galnsl
Inlloutl (Losses1
Designated
lunds-capilal
Depreciation
General fiJnds
226,907
3,351,397
226,907
3,257,544
13e,152
(332,041)
66,576
35.460
3,578.304
136,152
(332,041)
66,576
35,460
3,484.451
Endowment ￿ndS
2.467.083
66,576
{66.5761
(88,8221 2.378.261
6,045,387
202.728
(332,1141)
{53,3621
5.862,712
Brought
Forward
1A.21
Carrfed
Forward
31.3.22
Incoming Resources
rèsourc8s
expended
Transfe
Galnsl
Inlloutl (Lossesl
Designated
funds- Capital
Depreciation
General fund$
226,907
3,258.917
226,907
3.351.397
85,858
1335,3791
65,St5
276,485
3.485,824
85.858
1335,379)
65,515
276,485 3.578,304
Endowment funds
2.278,055
65.515
165,515
189,028 2.467,083
5,763,879
151,373
1335,3791
465,514
6,045.387
A designated fund, 8 Capital oepreci8llon Account. was sel up in 2010 by transferring unrestn.cled fijnds
lo designated funds (see note 121.
Page 19

Docusign En¥ÈlopÈ ID". 3F1C1608-708A4ADO-AF6A-70F44C76C29F
ST ALBANS OLD PEOPLE'S TRUST
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 •MRCH 2023
12. ANALYSIS OF NET ASSETS BETWEEN FUNDS
Unrestrlcted Endowment
funds
funds
2023
2023
Total
funds
2023
Fixed asset investments
Current assets
Creditors due within one year
3,411.914
93.368
PO.8311
2,378,261
5,790,175
93.368
120.8311
3,484,451
2,378,261
5.862.712
Unrestrlcted Endowment
funds
funds
2022
2022
Total
funds
2022
Fixed asset investments
Current assets
Credttors due within one year
3,525,278
82.415
129,3891
2.467,083
5.992,361
82,415
{29,3891
3,578,304
2,467,083
6,045,387
The endowment fund was set up Ifom the proceeds of the sale of land and il is the Truslees, policy lo
maintain ils capital value. The Endowment Fund balance is reviewed annually by ihe Trustees 8nd an
amount is Iransfeired to the Capital Depreciation Account from the General Fund lo protectlhe value of the
Endowment Fund if the fruslees deem il necessary.
13. RELATED PARTY TRANSACTIONS
The Trustees did not recelve any ￿mUneration OT expenses in the year f2022.. £nil). There
were no relaled party transactions during the year (2022.. none?.
Oonalions were received from trustees during the year amounting to £nil f2022.' £nil).
14. CONTROLLING PARTY
The charity is controlled by ils trustees in this and the prior year.
Page 20

Docusign En¥ÈlopÈ ID". 3F1C1608-708A4ADO-AF6A-70F44C76C29F
ST ALBANS OLD PEOPLE'S TRUST
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023
15. COMPARATIVE sTATEmE￿r OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2022
Unrestricted Endowment
fund$
funds
2022
2022
Total
funds
2022
Notg
INCOME AND ENDOWMENTS FROM:
Inveslmènls
85,858
65,515
151,373
TOTAL
85,858
65.515
151.373
EXPENDITURE ON:
Raising funds
Charitable aGlivilies
9,747
325,632
9,747
325.632
TOTAL
335,379
335.379
Net losses on investments
276.486
189,028
465,514
NET INCOME
26.965
254,543
281,508
Tr8nSferbo￿e8n funds
11
65,515
165.5151
NET MOVEMENT IN FUNDS
92,480
189,028
281,508
Total funds al l April 2021
3,4e5.824
2,278,055
5,763,879
TOTAL FUNDS AT 31 MARCH 2022
3.578,304
2,467,Q83
6,045.387
Page 21