St Albans Old People's Trust
Trustees, Report and Financial Statements
for the year ended 31 March 2024
Charlty Number.. 222522

St Albans Old People Trust
Contents
Reference and Admini5lrative Details of the Charity, its Trustees and Advisors
Trustee5' Report for the year ended 31 March 2024...
Tnjstees. responsibillty statement......................................................................
Independent Exarninerfs report for the year ended 31 March 2024.........................,.....................................-.. 10
Balance Sheet as at 31 March 2024..
12
Notes to the Financial Statements
13

St Albans Old People's Trust- year ended 31 March 2024
Reference and Administrative Details of the Charitvi Its Trustees and
Advisors
Trustees
Robert P. Hill (retired 25 October 20231
Arianrhod Pazzt-Axworthy
Sudabe Gray (retired 31 July 20241
Caroline Rolfe
Shona Hyde
lan Johnson
Nicholas Hill
Charlty registered number.. 222522
Principal office..
6 Sandringham Road
Bedfordshire. MK45 IRW
Webslte:
www.oldpeoplestru5t.org.uk
Secretary:
W. Fardell
Accountants:
Mercer & Hole LLP
72 London Road
St Albans
Hertfordshire, ALI INS
Bankers:
CCLA Investment Management Limited
One Angel Lane
London. EC4R 3AB
CAF Bank Ltd
2S Kings Hill Avenue
Klngs Hill, West Malling
Kent, ME19 41Q
Investmtnt holdings:
CCLA Inve5trnent Management Limited
One Angel Lane
London, EC4R 3AB
M&G Securitles Limited
10 Fenchurch Avenue
London, EC3M SAG

St Albans Old People's Trust- year ended 31 March 2024
Trustees, Report for the year ended 31 March 2024
The Tru5tee5 present their report and financial statements for the year ended 31 March 2024.
The financial statements have been prepared in accordan￿ with the accounting policie5 Set out in note I to the
accounts and comply wlth the charlty's Trust Deed. They have a150 been prepared in accordance with'Accounting
and Reporting by Charities.. Statement of Recommended Practice applicable to charities preparin8 their accounts In
accordance with the Finantial Reporting Standard applicable in the UK and RepL¢blic of Ireland IFRS 1021 (Second
Edition), the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland IFRS 1021 and
the Charities Act 2011 and UK Generally Accepted Accounting Practice as it applie5 from l January 2019.
Structure* governance and management
The Trust 15 8 Tegi5tered charity no. 222522 established by the Trust Deed on 24 July 1947. The charitable object Is
Set out in a 5cherne confirmed by the Charity Commission on 30 May 2000. The Trust does not actively fund-raise
and has resolved to carry out and continue the objects S￿ out in ihe Trust Oeed through careful stewardship of its
investments.
Prospective new Trustees, who should be resident In the city and Distrltt of St Albans, may apply to the Secretary
or make their interest known to any Trustee. The maximum number of co-opted Trustees is seven and the minimum
terrn of office 15 two to four years (although the r*ormal term Is four years).
DtsriTrg the year Robert P. Hill retired 35 3 Trustee.
Subsequent to year end, Sudabe Gray retired as Trustee and ChaSrper50n, and Carollne Rolfe wa5 appointed
Chairperson.
Tru5tee5
Trustees who served during the year throyghout the year and subsequently are given below..
Robert P. Hlll IrelSred 25 October 20231
Arianrhod Pazzi-Axworthv
Sudabe Gray Ire5igned as Chairper50n 19 June 2024 and retired a5 Trustee 31 July 20241
Caroline Rolfe lappointed Chairperson 19 June 20241
Shona Hyde
lan Johnson
Nicholas Hill ITreasurerl
The Trustee5 monitor all risks to which the Trust May be exposed and are sat15fied that 5V5tern5 are in place to
mitigate all material risks.
The Secretary. Mr. William Fardell. is appointed to carry our the day-to-day administration.

St Albans Old People's Trust- year ended 31 March 2024
Oblertlves and actlvltFes
Ob'ecttves
The objective of the Charity IS the relief of persons over the age of 60, resident wlthln the Clty and District of St
Albans, who are in Theed. hardship or distress.
Activities
st Albans Old People'5 Trust has been operating forover 20 years, fulfilling Its misslon to 5UPPOrt older people across
St Albans District who are in need, hardship or dlstress. This SUPPOrt is prtrnarily provided via grants to individuals
for free goods and services.
The Trust reviews each application against a Set of broad grants guidelines and makes deci51ons accordrngly.
2023
241m
act
During the year, 21112023.. 2291 rllent5 were 5UPPOrted by the Trust. Fewer grants were given than the prevlous
year (see Figure I below). This is in part due to a marked increase In thE TrUTnbEr of applications that were
irncornplete 3nd therefore could not be assessed. More cllent5 are present¥ng with rnental health issues, which
makes completing application forms and acce55ing supportin8 document5 difficult, despite the assistance provided
by staff.
266
242
229
211
182
2019120
2020121
2021122 2D22123 2023124
Figure l Numherof Grants
The SLIM of the grants provided for individual clieTht5 totalled £169,49912023.. £221,000) lsee Figure 21. Thi5
reduction in the value of grant-giving iesults from fewer cornpleted grant5 being assessed. as well as the
introdurtion of new grants guideline5. which now exclude high value items such as boilers, repairs and detoration.
234
221
169
77
2019120
2020121
2021122
2022123
2023124
Figure 2- Value of Grants to Individuals £'OOO
The wide range ol types of item5 and services awarded reflects the broad need5 amongst this older client base Isee
Flgure 31. The greatest nurnber of grants awarded are for replacernent kitchen appliances. The Trust also provides
a range of services for especially vulnerable and frail clients, including cleanin& meals on wheels and care alarms.

St Albans Old People's Trust- year ended 31 March 2024
Objectlves and artlvltle5 l¢ontlnuedl
Handyperson 5eMces
Glasses and dental
-other
Care Alarm5
Household electricals
and furniture
8ads
Cleaning
M&als on Vvhèels
Boilers + Plumbing
Flooriro
Mobility itsms
Supermarket
Vouchers
IAppliances
Flgure 3- Grants award6d to Sndlvlduals in 2024 by type
Client5 are strongly encouraged to apply for help frorn other sources, e.g.. Government support for gla55e5 and
dental treatrnent, to Use food banks and communlty pantries, as well as to approach place-based charitie5 like The
Harpenden Trust.
Many client5 write to the Trust to express their gratitude for the support the Trust has provided. Here are some of
their views-.
I thank you from the bottom of my heart for your klndness for my frld8e. l am truly 8rateful. God Bless
Thank you for the hoover and shopping voucher- it mean5 a lotl Now l only get fed I day a week at work,
my food bills have rocketed.
The Trust got me a cooker- it's beautifvl
Thank you $0 much for the recllner chair. It 15 totally life-changing for us.
Thanks so much for all your help. I hope I look like a dolly bird with my new teeth.

St Albans Old People's Trust- year ended 31 March 2024
Objectives and artivitles Icontinuedl
Initiatives to Su
ort Older Peo le
The Trust ha5 undertaken several non grant-m8king initiatives to further its support for older people.
Promotion of uptoke of Pension Credit ondAttendonceAllowunce
The Trust produces and di5tribute5 Posters encouragiThg older people to check their entitlement to Pension Credit
and Attendance Allowance. The Trust entered its 4th year of a partnership project with Citizen5 Advice St Albans
ICASTADI to encourage older people lo apply for Pension Credit. About 1.550 people of pensionable age in rhe
district are missing out on Pension Credit and other benefits, including Attendance Allowan¢e and Housing Benefit.
As a result of the partne￿hip project, 295 clients are now more financially Secure with a cornbined annual total
increase in income of £583,000. In some cases. the client's monthly income has doubled. The Trustees would like io
formally acknowledge the invaluable support that CASTAD'S staff and voSunteer advisors provlde to the Trust's
Community Heulthy Hub Purtnership
The Trust has a weekly hot-desk within 5t Albans Council's Community Healthy Hub. This provldes an opportunity
for many older people who requ1re in-person support, to complete an application form with a member of staff,
provSde supporting documents and explain their often-complex circurnstances. Staff can also personally introduce
client5 to other Hub partners for financial advice, help with digital skills and accessing a local Community Bank.
StAlbLrn5 Old People's Portnership Meering
The Trust brought together over 30 charitie5 and statutory agencies, each supporting older people, in a second
Partnership meetin& hosted by The Harpenden Trust. Further meetings are planned for 2024125.
Co-Produrtion 8ourd
The Trust was invited to sit on Hertfordshlre County CouncS1's Co-Productlon 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 to overcome the barriers to social inclusion and can share this with those who are deci5ion-
makers around services for older p￿pIe across Hertford5hire.
Troininglrom rhe Assoclation CharNtoble OrgonisotlOn5
St8ff have attended training on fraud prevention, benefits updates, saleguarding and other subjects relevant to the
efficient marsagement of a grants process.
Grants to Grou
The Trust made far fewe¥ grant5 to other charities supporting older people than in previous years, as a number of
charities have closed. whilst others had funds remaiTrin8 frorn GovernmeTht and other Covid 8rants. The following
Groups benefitted from donations by the Trust..

St Albans Old People's Trust- year ended 31 March 2024
Group
Item
Cost
Citizens Advice St Albans
Pension Credit Proje
Hert5 Independent Living Service5 Jubilee Chri5trna5 Party
London Colney Parish Council
Exercise classes for older residents
Total
£3,000
£320
£5,106
£8,426
Publlc benefft
The Trust has complied with the duty in section 17 of the Charitles Act 2011 to have due regard to the public beneflt
guidance publlshed by the Chartty Commi55ion.
Flnanclal revlew
The Trusvs investment assets generated income of £195,93012023.. E202,7281 during the year. The cost of
8enerating this income totalled £19.37512023. £9,569) in respect of property costs. Other expenditure totalled
£267,85512023.. E322,4721, resulting in net expenditure of £91,30012023.. £129,313) before investment gain5.
The TrusV5 financial investments. that are linked to the performance of financia1 markets, 8enerated a galn of
£354,09612023.. loss of E223,3621. A gain of £5,00012023.. £170.0001 wa5 recognised on the revaluation of the
Trust's freehold property inve5tment5.
ThE above has resulted in a net increase in fund5 of £322,44512023'. net decrease of £182.6751. The Trusys
inve5tment5 are being held on a long-term basis and their performance is considered satisfactory on that ba51S.
Total fvnds at the end of the year amounted to £6,185,15712023.. £5,862,712) and Consisted of Endowment funds
of £2,591,67212023.. £2,378,2611 and unrestrlcted funds of £3,593,48512023'. of £3,484,451).
The Trustees are not aware of any materlal uncertainties about the Trust'g abi1Sty to contlnue as a goin8 concern.
Policyon reserves
It is the policy of the Trust that the capital val￿e of the Endowment Fund is maintained (subject to unrealised
Iluctuations in the market value of the underlying assets) and that adequate unrestritted reserves are held al a level
equivalent to a minimum of twelve rnonth5 running costs. The trustees review the capital value of the Endowment
Fund annu311y and an amount is transferred to rhe Capiial Depreciation Account from the general fund to protect
against inflaion if the trustees deem it necessary.
C Rolfe
Chalr of the Board of Trustees
Date..

St Albans Old People's Trust- year ended 31 March 2024
Trustees, responsibility statement
The Tr￿Stee$ are responsible for preparing the Tru5tees' Annual Report and the financial statements in accL)rdance
with appllcable law and United Kingdom Accounting Standards Iunited Kifigdorn Generally Accepted Accounting
Practice).
The law applicable to charities in England & Wa5es/Northern Ireland requires the Trustees to prepare tinancial
staternents for each financial year which give a true and fair view of the state of affairs of the charity and of the
inmming resources and applicaiion of resource5 of the charity for that period.
In preparing these financlol statement5. the Trustees are required to..
select sultable accountirbg policies and then apply them consistentlv.,
observe the method5 and principles in the Charlties SORP 2019 IFRS 1021..
make judgements and e5timate5 that are feasonable and prudent;
stale whether applicable accounting standards have been followed, subjert to any material departures
disclosed and explained in the financial statements.. and
prepare the financial staternent5 on the going concern basis unless It is inappropriate to presume that the
charity wlll continue in operation.
The Trustee5 are re5pon5ible for keeping proper accounting record5 that disclose with rEa50nable accuracy at anv
time the financial position of the charity and enable them to ensure that the financial statements cornply with the
Charitie5 Act 2011, the Charities IAccounts and Reports) Aeeulations 2008 and the provisions of the Trust Deed.
They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the
prevention and detection of fraud and other irregularitie5.
C Rolle
Chair of the Board of Trustees
Date..

St Albans Old People's Trust- year ended 31 March 2024
Independent Examiner's report for the year ended 31 March 2024
I report to the Trustees on my examination of the financial statements of St. Alban5 Old People's Trust I'the
charity'l for the year ended 31 March 2024 which comprlse the Statement of Financial Activitles, the Balance Sheet
and related notes.
This report 15 made solely to the Charit(s Trustees, as a body, in accordance with section 145 of the Charitie5 Act
2011. My work has beeTh undeTtaken 50 that l Might state to the Chzrity's Trustees those matter51 am required to
state to them in this report and for no other purpose. To the fullest extent permitted by law, I do not accept or
assume responsibility to anyone other than the charity and the Charity'5 Trustees as a body, for my work. for this
report. or for the opinion51 h3ve formed.
Responslbllltles and basis of report
As the Trustees of the Charity. you are responsible for the preparatlon of the finaneSal statements In accordance
wlth the reouirements of the Charities Act 20111'the Act'l.
I report in respect of my examination of the charity's financial statements carried out under section 145 of the Act
and in carrying out my examination I have followed all the applicable Directions given by the Charity CornmisSlDn
under section 14515llbl of the Act.
An independent examination does not involve gathering all the evidence that would be required in an audit and
consequently doe5 not cover all the m3tters that 3n auditor considers in giving their opinion on the financial
statements. The planning and ¢ondutt of an audlt goe5 beyond the lirnited assurance that an independent
examlnation Can provide. Consequently, l eXp￿sS no opinion a5 to whether the financial statements present a
'true and fairf view, and my report Is limited to those specific matters set out in the independent examinerfs
Statement.
Independent examiner'5 StatemeTht
I have completed my examination. I confirm that no materlal matters have come to my attention in connection
wlth the examlThation giving me cause to believe that in any material respect..
accounting records were not kept in respett of the charity as required by section 130 of the Act,. or
the financial statements do not accord wSth those records,. or
the financSal statements do not comply wSth the applicable requirements coacerning the form and
content of account5 set out in the Charities IAccounts and Report51 Regulations 2008 other than any
requirement that the aeeounts give a 'true and falr view, whSch is not a matter consldered as part of an
independent examination.
I have no concerns and have come acros5 no other matters in connection with the examination to which attention
should be drawn in this report in order to enable a proper understsnding of the fSnancial statements to be
reached.
Upshall FCA
UlkdL
Merctr & Hole LLP- Chartered Accountants
72 London Road
St. Albans Hertfordshire ALI INS
io

St Albans Old People's Trust- year ended 31 March 2024
Statement of Financial Activities for the year ended 31 March 2024
Unrestrirted
fund5
Emduwffleht
Total
Total
fund5
2023
funds
funds
Note
2024
2024
2024
Income and endowrnent5 from..
Investments
128,670
67.260
195.930
202,728
txpendlture on..
Ra¢sin8 funds
119,3751
119,3751
19.5691
1267,8551
1267,8551
1322.472)
1287.2301
1287.2301
1332,041)
Net gains I Ilossesl on investment
revaluations
145,685
54,649
212,411
259.096
54,649
153.3621
Profit on disposal of investment propertv
Net In¢ome I lexpet)dlturel
41.774
280,671
322,445
IIS2,6751
Transfers between funds
li
67,260
167.2601
Net movement in funds
109,D34
213,411
322,445
{1816751
Reton¢llhtlon of fvJhds-
Total funds at startof year
3.434,451
2,378.261
5.862.712
6.045,387
Total fund5 at end of year
3,593,485
2,591,672
6.185.157
5.862,713
The comparative Statement of Financial Activities for the prior yeaF is p￿Sented In note IS.
The notes on page$ 13 to 20 lorm part of these financial statements.
li

St Albans Old People's Trust- year ended 31 March 2024
Balance Sheet as at 31 March 2024
31 March
ZOZ4
31 Marth
2023
Note
FIMed assets
Investments
6.152.987
5.790,17S
Current a55ets
Debtors
34.829
82,616
Cash at bank and in hand
17,095
10,752
51.924
93,368
Credltor5.' amount5 f3llln8 due wlthln one year
io
119,7541
IZO,8311
Net current assets
32.170
72,537
Net assets
6.185,157
5.862.712
Charityfunds
Endewment funds
2.591,672
2.378,261
UnrestTlCted fund5
3,593,485
3.484,451
Total fut)ds
6,185,157
5.862,712
The financial statements were èpproved by the Tru5tee5 on
and Signed on their behalf, by..
C Rolfe
The note5 on pa8es 13 to 20 form part of these financlal statements.
li

St Albans Old People's Trust- year ended 31 March 2024
Notes to the Financial Statements
l. Accounting Policies
Ba515 of preparatlon
The financlal staternents have been prepared in accordance with 'Accounting and Reporting by Charities..
Statement of Recommended Practice applicable to charities preparing their accounts in accordance wlth the
Financial Reportlng Standard applicable in the UK ancs Republic of Ireland IFRS 1021 (Second Edition), and the
Financial Reporting Standard applicable in the United Kingdorn and Republic of Ireland IFRS 1021 and the
Charities Act 2011 and UK Generally Accepted Accounting Pr3Ctice as it applies from January 2015.
The financial statements have been prepared to give a'true and fair. view and have departed from the Charities
(Accounts and Reports) Regulation5 2008 only to the extent required to provide a 'true and fair view,. This
Ileparture ha5 involved following'Accounting and Reporting by Charities.. Statement of Recornrnended Practice
applicable to charities preparing their accounts accordance with the Financial Reporting Standard applicable
in the UK and Republic of Ireland IFRS 1021 Isecond Edition). rather than the Accounting and Fieporting by
Charities.. Ststement of Recommended Practice effective from l April 2005 which has since been withdrawn.
The financial statements have been prepared under the historical c05t convention with items recognised at
cost ortransaction value unle5S Otherwise stated in the relevant notelsl to these accounts.
The Trust Meets the definition of a public benefit entity under FRS 102.
Fund accountlng
General funds are unrestricted funds which are avallable for use at the discretion of the Trvstees in furrherance
of the general objectives of the charity and which have Thot been designated for other purposes.
Designated funds comprise unrestricted funds th3t have been set aside by theTrustees for partlcular purposes.
The airn 3nd use of each designated fund is set out in the nDtes to the financial staternents.
Endowment funds are to be used in accordance with spe£ific restrictions imposed by the donor.
Income
All incorne 55 recogni5ed once the charity has entltlement to the income. it 15 probable that the income wlll be
received, and the amount of incorne receivable can be me35vred reliably.
Investment irncorne 15 recognised when receivable based on notlflcatlon from the Investment managers.
Expenditure
Expenditure is reio8nised once there is a legal or constructive obligation to make payment to a third party. it
is probable that settlement will be required, and the arnount of the obligation can be measured Teliablv.
All expenditure Is aecounted for on an accruals basis. All expenses including support costs and 8overnance
costs are allocated to the applicable ekpenditure headlngs.
Support costs are those costs incurred dlrectly in 5UPPOrt of expenditure on the object5 of the charity.
Governance costs are those incurred in connection with adminisiration of the charity and cornpli3nce with
constitutional and statijtory requirements.
13

St Albans Old People's Trust- year ended 31 March 2024
Notes to the Financial statements
l. Accountlng Policie5 Icontinuedl
Grants payable are charged in the year when the offer is made except in those ca5e5 where the offer is
conditional. such grants being recognised as expenditure when the condition5 attaching are fulfilled.
Golng Concern
The Trustees are not aware of any tnaterial uncertainties about the Trust's ability to continue as a going
cOn￿r￿.
Fixed a55et investments
Common investment funds and unit trusts are 3 form of basic financial instrument and are inltial
recognised at theirtransaction value and subsequently measured attheirfairvaluea5 at the balan￿ sheet
date using the closing quoted market price. Inve5trnent properties are init1311y recognised at their
transacrion value. Investment properties are professionally valued periodically, and these valuations are
reflected in the accounts.
The Statement of Fir¢ancial Activities includes the net gains and losses arising on revaluation and disposals
throughout the year. allocated to the appropriate fund.
Debtors
Short term debtors are measured at transaction price. les5 any impairment10sses.
Cash at bank and in hand
Cash at bank and in hand includes cash and Short term highly liquid investments with 3 Short maturlty of
three months or less from the date of acquisition or opening of the deposit or similar account.
Creditors znd provlslons
Shon term creditors are measured at the transaction price.
Financial in5trument5
The Charity only enters into basic fSnanEial instruments transactions that result in the recoEnltion of
financtal assets and liabilities such as debtors and creditors.
Financial instruments are initially measured at transaction va5ue. They a¥e assessed at the end of each
reporting period for objective evldence of impairment. If objective evidence of impairrnent is IDund, an
impairment Ioss 15 Tecognised in the Statement of Financial Activities.
Jtsdgement5 in applying accountlng poll¢les
The preparation of the financial 5tatemeThts requires rnana8ement to make judgrnent5, estimate5 and
assumptions that affect the amounts reponed for assers and Ilabilliies at the balance sheet date and the
amounts reported for revenues and expense5 during the year. The nature of e5tirnation Means the a￿Ual
outcomes could differ frorn those estimates. The key source of estimation uncertainty that could have an
impact on the financial statements ￿lateS to the values of inve5trnents held.

St Albans Old People's Trust- year ended 31 March 2024
Notes to the Financial Statements
2. Investment Income
Unrestritted
Ethdowme#t
Total
Total
lunds
2023
funds
fund$
funds
2024
2024
2024
Rental income
20,791
20,791
28,476
Incorne from unit trust5 and common
Investment ftJnd5
107.791
67,166
174.957
173,625
Interest receivable
94
94
179
Donatlons rereSwed
88
88
Sundry
128,670
67.Z60
195,930
202,728
Toto12023
136.152
66,516
201728
3. Analysis of Grants
Grants to
Grantslo
Total
2024
Total
2023
2024
2024
G¢3nts payable
8,426
169.574
178,000
Z21,193
Total 2023
9,100
212.093
221,193
15

St Albans Old People's Trust- year ended 31 March 2024
Notes to the Financial Statements
3. Analysis of Grants {continuedl
Included within grants are amounts payable to 3 in5titution512023.. 31 as follows..
2QZ4
Herts Communlty Kltthen
Small Act5 of Kindness
1,100
5.000
Citizens Advice St Albans
Health & Independent Living Support
London Colney Parish Council
3,000
320
3.000
5,106
8,426
9,100
4. Analysls of Resource5 Expended by Expenditure Type
2024
2023
Maintenance and lettin8 eosts of investment propertles
19.375
9,569
Costot ralslw funds
19.375
9.569
Grants paSd athd eommitted (note 31
Mona8ernent ef benefioary process
Governance
178,000
221,193
69,810
86,475
4,320
10,484
12,268
7,777
Support costs
Charltable actlvllies
267,855
322,472
Total
287,230
332.041
Management of beneficiary process includes the cost of individua15 contracted by Hertfordshire
Independent Livlng 5ervite IHILSI to service the charity.
Support costs totalling £5.70412023: £8.2251 related to adminlstratlve services provided by W Fardell in
ht5 capacity as Secretary to the Trustees. These have been allocated between investment property costs,
charitable activitle5 and governance cost5 in the followin8 proportion 20%..60%..20%12023.. 20%..60%..
20%). Thls allocation is based on time spent administering the relevant area5 of the charity.
All costs in 2024 and 2023 relate to unre5trirted funds.
5. Trustee Costs
During the year, one Trustee received £18 relating to expenses incurred12023= £nill.
16

St Albans Old People's Trust- year ended 31 March 2024
Notes to the Financial Statements
6. Independent Examinerfs Remuneration
2024
2023
Examination of the financsal statements
945
yoo
All other services
1,890
1,800
2,835
2,700
7. Staff Costs
The charity has no employees.
8. PropertV• plant and equipment
ComTllDn
inve5tmefit
fvnds and
managed
funds
Freehold
properties
Total
Market value
At l Aprll 2023
5,020.175
770,000
5.790.175
Additions
343,716
343.716
Disp05als
I90.0￿>
1250.0001
1340,0001
Revaluations
354,096
5,000
359,096
At 31 March 2024
5,627,987
525,000
6,152,987
Hlstpri¢al cost
Mateiial inv*strnentS
2024
2023
COIF Charitles Investment Fund
4,535.236
1,092,751
525,(M)O
3,932,286
1.087,889
520,000
250,000
M&G CharSfund
Freehold properly at 20 Dalton Street, St Albans
Freehold property at 22 Albert Street, St Alban5
6,152,987
5.790,175
Freehold propertles are stated at their market value.
20 Dalton Street was valued at £S2S.000 in May 2024 by 3 chartered surveyor at Rumball Sedqewick. and
this valuation is reflected in the balance sheet as at 31 March 2024.
The second property at 22 Albert Street Was SDld January 2024 reali51ng a gain on sale Df £54.649.
17

St Albans Old People's Trust- year ended 31 March 2024
Notes to the Financial Statements
9. Debtors
2024
2023
Cash in tran51t
50,oriJ
Rental deposit
Prepayments and accrijed income
1.546
1.546
33,283
31,070
34,829
82,616
10. Creditors- amounts falling due within one year
2024
2021
Rental deposit
Accrua15 and defeTred Tncome
1,546
1.546
18,208
IY.285
19,754
20,831
Included in accruals and deferred income is deferred income of £nll12023.. £4,903) comprlslng of the
receipt of rental income relating to future pertod5.
11. Summary of funds
Brought
forward
Carrled
forward
3113124
Incomlng Resources
resources
expended
Transfers
inlloLrtI
Galn51
Ilossesl
114123
Designated fund5-capital depreciation
General lunds
226,907
226.907
200.334 3,366.578
3,257.544
128,670 1287,2301
67,260
3,484,451
128,670 1287,2301
67,260
200,334 3,593.485
EAdowmentlufids
2,378,261
67,260
167,2601
213,411 2,591.672
5,862,712
195.930 1287,2301
413,745 6,185.157
Brought
forward IncomlnE Re50urce5
114122 resourtes expended
Carried
fov•JaTd
3113123 £
Trar15fer5
lthlloutl
Galnsl
Designated funds- capital depreciatpon
General funds
226,907
3,351,397
226,907
3.257.544
136,152 1332,0411
66.576
35.460
3.578,304
136,152 1332,0411
66.576
35,460
3,484,451
Endowmentfund5
2.467,083
66,576
166.5761
188,8221
2.378.261
6.045,387
202.728 1332,0411
153,3621
S,862,712
A designated fund, a Capital Depreciation Account. was set up sn 2010 by transferrlnB unrestricted funds
to designated funds15ee note 121.
18

St Albans Old People's Trust- year ended 31 March 2024
Notes to the Financial Statements
12. Analysis of net assets between funds
Unfestricted Endowment
nds
fund5
2024
2024
Totsl
lunds
2024
Fixed asset investment5
3,561.315
51,924
119.7541
2,591,672
6,152,987
51,924
119,7541
Current assets
Creditors due wlthin one ¥eaT
3.593,485
2.591,672
6,185,157
Unrestrlcted Endowment
fund5
fund5
2023
2023
Total
f¥nds
2015
Fixed asset Invèstments
3,411,914
93.368
120,8311
2,378.261
5.790,175
93,368
120,8311
cu￿ent assets
Creditors due within one year
3,484,451
2.378.261
5.862,712
The endowment fund was set up from the proceeds of the sale of land and it is the TrtTrstees' policy to
maintain it5 capital value. The Endowment Fund balance Is reviewed annually by the Trustees and an
amount is transferred to rhe Capltal Depreciation Account frorn the General Fund to protect the value of
the Endowment Fund If the Trustees deem it necessarv.
13. Related party transactlons
One Trustee received expenses Df £18 in the year12023-. nill.
Related party transactions in the year came to a total of E43412023.' none). This amount related to
expense5 incurred by Mike Gray (husband of Sudabe Gray.. Trusteel incurred on behalf of the trust.
14. Controlling party
The charity is controlled by it5 TTU5tees in thi5 and the prior year.
Ig

St Albans Old People's Trust- year ended 31 March 2024
Notes to the Financial Statements
15. Comparative statement of financial attivities for the year ended 31 March 2023
UThrestrl¢ted
funds
2023
Endowment
funds
2023
Total
lunds
2023
Note
Intome and endowrnents from:
Investments
136,152
66,576
202,728
136,152
66,576
202,718
Expet)dlture on:
Rai5in8 funds
9.569
9.569
322.472
322,472
322,041
332,041
Net gains I11055esl on Snvestments
35,460
188,8221
153.3621
Net Income I lexpenditurel
1160.4291
66,576
122,2461
166,5761
1182,6751
Transfers between funds
li
Net movement In funds
193.8531
188,8221
1182,6751
Recontlllation otfLrnds'.
Total funds at start of year
3.578.304
2.467,083
6,045,387
Total funds at end of year
3.484,451
2.378,261
5.862,712