St Albans Old People's Trust Trustees, Report and Financial Statements for the year ended 31 March 2025 Charity Number.. 222522
St Albans Old People's Trust Contents Reference and Adminlstrative Details of the Charity. its Trustees and Advi50r5................................................. Trustees, Report for the year ended 31 March 2025........................................... Trustees, responsrbility statement......................................... .10 Independent E¥aminerfs report for the year ended 31 March 2025........ .11 Statement of Financial Activities for the year ended 31 March 2025..... -12 Balance Sheet as at 31 March 2025 13 Notes to the Financial Statements......................................... 14
St Albans Old People's Trust- year ended 31 March 2025 Reference and Administrative Details of the Charity, its Trustees and Advisors Trustees Arianrhod Pazzi-Axworthv Sudabe Gray (retired 31 July 20241 Caroline Rolfe Shona Hyde Ian Johnson Nicholas Hill Atsha Morley lappointed 7 August 20251 Stella Wilkinson (appointed 7 August 20251 Charlty regIsted number: 222522 Prlnclpal offlce: 6 Sandrrn8ham Road Flitwick 8edfoTdshire, MK45 IRW Website., www.oldpeoplestrust.org.uk Secretary.. William Fardell Accountants: Mercei & Hole LLP 72 London Road St Alban5 Hertfordshire, ALI IN5 8anker5: CCLA Investment Management Limited One Angel Lane London. EC4R 3AB CAF Bank Ltd 25 Kings Hill Avenue Kings Hill, West Malling Kenl, ME19 41Q Investment holdings: CCLA Investment Management Limlted One Angel Lane London, EC4R 3AB M&G Securities Limited 10 Fenchurch Avenue London, EC3M SAG
St Albans Old People's Trust- year ended 31 March 2025 Trustees, Report for the year ended 31 March 2025 The Trustees present their report and financial statements for the year ended 31 March 2025. The financial statements have been prepared in accordance with the accounting policies set out in note I to the accounts and comply with the Chafity's Trust Deed. They have also been prepared in accordance with 'Accounting and Repoytlng by Charities.. Statement of Recommended Practice applicable to charities preparing thetr account5 in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 (second Edition)., the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland IFRS 1021 and the Charitie5 Act 2011 and UK Generally Accèpted Practice as it applies from I January 2019. Strurturei governance and management The Trust Is a registered charity no. 222522 establlshed by the Trust Deed on 24 july 1947. The Charitable objert is set out in 3 scheme confirmed by the Charity Commission on 30 May 2000. The Trust does not fund-raise and has resolved to carry out and continue the objects set out in the Trust Oeed through careful stewardship of its inve5trnents. Prospective newTrustees, who should be resident in the City and District of St Albans, may applyto the Secretary or make their interest known to any Trustee. The maximum number of co-opted Trustees is seven and the minimtjm term of office is two to foul year5 lalthou8h the normal term is four years). Trustees Trustees who served during the year and subsequently are given below.. Arianrhod Pazzi-Axworthy Sudabe Gray (resigned as Chairperson 19 June 2024 and retlred as Trustee 31 July 20241 Caroline Rolfe lappointed Chairperson 19 June 20241 Shona Hyde lan Johnson Nicholas Hill (Treasurer) Aisha Morley lappointed 7 August 20251 Stell3 Wllkinson (appointed 7 August 20251 The Trustees monitor all risks to which the Trust may be exposed and are satisfied that systems are in place to mitlgate all material risks. The Secretary, William Fardell, 15 appointed to cairy out the day-ttrday administratlon.
St Albans Old People's Trust- year ended 31 March 2025 Objertives and artivities Objectives The objective of the Charlty Is the relief of person5 over the age of 60. resident within the City and Distrlct of St Albans, who are In need, hardship or distress. Activittes The Trust has been operating for over 25 years. fvlfilling its mission to support older people across St Alban5 Oistiict who are sn need, hardship or distre55. This suppo¥t is primarily provided via grants to individuals for freè goods and services. The Trust reviews each application against a Set of broad grant guidelines and make5 decisions accordingly. The Trust increased the number of gfants awarded in 2024125 to 221, compared to 211 in 2023124 (Fig 11. 300 266 250 242 229 211 221 200 182 E 150 100 50 2019120 2020121 2021122 2022123 2023124 2024125 Flg. 1 Number of G¥ant$ Awarded to Individuals 250 234 221 194 200 169 0) 150 133 100 50 2019120 2020121 2021122 2022123 2023124 2024125 Fig. 2 Value of Grant$ Awarded to Individua151£'00091
St Albans Old People's Trust- year ended 31 March 2025 Objertive5 and artivitles Icontlnuedl Du¥ing the year, the frust resolved to PTiOfltise individual grants awarded to those individuals in most need by.. The introduction of new grant guidelines that focus on our core priorities and exclude grants for Items such as new boilers. while signposting applicant5 to energy company and Government energy schemes. Carrying out a review of ongoing care support services such as regular cleaning, mèals on whee15 and care alarms. This resulted in a reduction in the Trusvs commitments for ongoing service-related grants. This led to a fall in the total value of grant expenditufe on Indsviduals in the Current year to £132,73112024'. £169,574) IFig 21, de5Plte an increase in the number of grants made during the year. In common with many other charltles. The Trust saw an increase in clients wrth mèntal health i$5ues, whom the Grants Team provide5 518nificant support in the application proces5. The wide range of iterns and services awarded reflects the broad needs of the Trusvs èlderly ¢lient base (Fig 31. The greatest number of applications are for replacement kltchen appllan¢es. Meals onWheels+ CareAlarm5, È3,760 Glasses. £2.105 Sundry. E3.874 Food Vouchers, £9.800 Appliances. E32,025 Rooring, £14.297 Household, £19,547 Mobility, £17.556 Services in¢1 Cleanin$. £29,967 Fig. 3 Grant Value by Category
St Albans Old People's Trust- year ended 31 March 2025 Objectives and actlvities Icontlnuedl Client5 are Strongly encouraged to apply for help from other sources in addition to a¢cessin8 the Tru5t'5 support, e.g. Government support for glasses and dental treatment, to use food banks and community pantries. as well as to other Charities that provide Brant5 for individuals such as The Harpenden Trust. Impoct The Trust cariled out an impact survey with clients in March 2025. Key findlngs Sncluded= 60% deemed their grant to be life-changin& 35% said their grant had really helped them. 80% said without their granl they would have tried to cope without the Item or borrowed money to buy it. The Trust sees a significant proportion of applications from clients, who are in debt and are having to make debt repayments from a small income. 100% would recommend the Trust to others needing support. Many clients write to the Trustto explain the impact of their grant. Extracts of some of their feedback is given below.. he washing machine and fridge free2er are wonderful and came within a week. The whole process was $0 nor-stre55ful,' thank you from the bottom of my heart.~ '1 just wanted to express my gratitude for listening to me. believing me and helping me. l actually feel so much more positive about life and after the dental work is Complete, I will be able to eat with people. You have changed my life and, at a very low point, you have restored my faith in people.~ "Thank you so much for the lovely new recliner chair, it is so amazing. God bles5 you all." "l am very grateful for the new bed and mattress. I have had the best sleep I have had for a long time." The Trust receives over 1,200 phone calls a year from clients, relatives and referrers-, an important part of the work of the Grants Team is providing information and si8npostin8. This may beto other agencies and charities, to highlight welfare benefits that the client may be missing out on, or to social activities. for the many cllents that tell us that they are lonely. This recognition of the need for clTrentS to be able to acce55 information in an accessible and non- digital way led to the creation of the Silver Pa8es Guide. The Sifver Pages information booklet The Trust recogni5es that. in an Increaslngly diÈital world, older people are struggling to find out about services, or8anisations and benefits which would be of help to them. Our Grants staff carefully compiled the information over Six months, adding case studies of clients. who had benefited from grant5. The launch event in Ortober 2024 was well attended by older people and representatives from local organisations. The Trust printed 4.000 copies of The Silver Pages Guide to services for older people living in St Albans District. The Silver Pages Guide 15 a150 available on the Trust's website.
St Albans Old People's Trust - year ended 31 March 2025 Objertives and activltles Icontlnuedl Promotion of uptake of pension credlt ottend(3nce allovmnce Over the past six years, the Trust has provided partnership funding to Citizens Advice St Albans District ICASTADI to encourage olde¥ people to apply for Penslon Credit, Attendance Allowance and other entitlements. In Autumn 2024, the highly publicised changes to Pension Credit entitlement meant that more older people be¢ame aware of this benefit. This provided an oppoitunity to reach a greater number of local older people. including St Albans Distrlct Council's approath via rnail to targeted residents. Over six years, the Trust has supported CASTAD in helping 396 clients with claiming a total of £905,000 in additional benefits. The Tfustees wish to highlight the invaluable support that CASTAD'S staff and volunteer advisors provide to the Trusvs clients. Portnership working The Grant5 Team has a weekly hot-desk within St Albans Council's Communlty Healthy Hub. The Trust was invited to sit on Hertfordshire County Council's Co-Produ¢tion Board to representthe views of older people. This partnershlp of 20 statutory and charitable organisations contribute5 to important county-wide consultations and policies. SustaAnobility The Trust has made progre55 in sustainability practices. The GrantsTeam facilitate the exchange of mobility Scooters, recliners and profiling beds that are no loneer required by clients, are in good condition and are then given to new clients in need. The Trust use5 local supplier5 for appliances, beds and flooring and uses local charitles fof cleaning contratts and IT equipment for clien15. Grants to groups The Trust made the fgllowing grants to groups during the year.. Grou Item Cost Citizens Advice St Albans ICASTADI Rennie Grove Peace Hospice Small Acts of Kindness Herts Independent Living Services Botford Community Group Perrycoste Sheltefed Houslng The Pad Project Pets In Need Herts Total Pension Credit Project Syringe Drivers Warm in Winter Bags Jubilee Christmas Party Christrnas Party TV for Communal Room Donation Donation £7,200 £3,776 £i.soo £325 £650 £249 £25 £25 £13,750
St Albans Old People's Trust- year ended 31 March 2025 Public benefit The Trust has complied with thè duty In sertion 17 of the Charities Act 2Qll to have due regard to the publlc benefit guidance published by the Charity Commission. Financial review The Trust'5 investment assets generated income of £195,11012024'. £195.9301 duiing the year. The c05t of generating this income totalled £14.19412024.. £19,375) in respect of property costs. Other expenditure toialled £258,91812024.. £267,855), resulting in net expenditure of £78.OL1212024.. £91.3001 bef(Ire investrrent gains. The Trusvs financial investrnents, that are linked to the performance of financial markets, Incurred a loss of £153,56912024.' gain of £354.0961. No @ain or losses were recognised on the revaluation of the Trust's freehold property investments12024.- galn of £5,000). The above has resulted in a net decrease in funds of £231,57112024.' net increase of £322.4451. The Trust's inve5tment5 are being held on a long-term basis and their performance is considered satisfactory on that ba55S. Total funds at the end of the year amounted to £5,953,58612024.. £6,185,157) and consisted of Endowment funds of £2,471,57412024.. £2.591,6721 and unrestricted funds of £3,482,01212024: of £3,593.4851. The Trustees are not aware of any matèrlal uncertainties about theTrusVs ability to continue as a going concern. Poliry ort reseNes It is the policy of the Trust that the capital value of the Endowment Fund is maintained15ubject to unrealised flurtuations in the market value of the underlying assets). The Trustees review the capital value of the Endowment Fund annually and an amount is transferred to thè Capital Depreciation Account from the general fund to protect against inflation if the Trustees deem it ne¢e55ary. The Trust revlews Its level of unrestrirted reserves annually and retains sufficient reserves to fund its charitable activities over the lon8 term and at a minimum level equivalent to twelve months running costs. P05t bt71unce sheetevent After year end. the Trust was gifted £1.434,510 by Abbeyfield St Albans Society Limitèd, a lo¢al charity which previously owned and operatèd the Grace Muriel House old people's home in St Albans. The fund5 are unre5tiicted, forming part of the Trusvs general unrestricted funds. The funds will be interrbally allocated to 'Gra Muriel Fund, and the utili5ation of the fund and associated income and gain5 reported in future Trustee arknual reports. The Trust intends to use the gift to help fund a p¥ogramme of grants to other charities and groups for activities that help the Trusf s client base and that are con51stent with the Trust's ¢harStable obledlves. C Rolfe Chair of the Board of Trustees Date.. 22
St Albans Old People's Trust- year ended 31 March 2025 Trustees, responsibility statement The Trustees are responsible for preparin8 the Trustees, Annual Report and the financial staternents in accordance with applicable law and United Kingdom Accounting StarTrdards Iunited Kingdom Generally Accepted Accounting Practicel. The law applicable to charities in England & Wales/Northern Ireland requires the Trustees to prepare financial Statements for each financial year whsch give a true and fair vsew of the state of affairs of the charity and of the incoming reSoUrS and application of resources of the chaiity for that period. In preparing these flnancial statements, the Trustees are required to: select suitable accounting policies and then apply them con51Stently,' observe thÈ method5 and principles in the Charities SORP 2019 IFRS 1021,. make judgernent5 and estimates that are reasonable and prudent,. state whether applicable accounting standards have been followed, subject to any material depanvres disclosed and explained in the financial statements.. and prepare the financial statements on the going concern basis unless it Is Inappropriate to presume that the charity will continue in operation. The Trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any tirne the financial position of the charity and enable them to ensure that the financial 5tatement5 comply with the Charities Act 2011, the Charitie5 (Accounts and Reports) Regulations 2008 and the provisitsns of the Trust Deed. They are also responsible for safeÉuarding the assets of the charity and hence for taking reasonable steps for the prevention and detectlon of fraud and other irregularities. C Rolfe Chair of the Board of Tiustee5 Date.. io
St Albans Old People's Trust- year ended 31 March 2025 Independent Examiner's report for the year ended 31 March 2025 I report to thè TrustèÈs on my examination of the financial statements of St. Albans Old People's Trust I'the charitv) for the year ended 31 March 2025 which comprise the Statement of Financial Activities. the Balance Sheet and related notes. Th4s report is madè solely to the Charitl5 Trustees, as a body, in accordance with section 145 of the Charities Act 2011. My work has been undertaken so that I might state to the Charit(s Trustees those matters l am requlred 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's Trustees a5 a body, for my work, foi this report, or for the opinions I have formed. ResponslbllltSe5 and basss of report As the Trustees of the Charity, you are re5pon5ible for the preparation of the financial statements in accordance with the requirements of the Charities Act 20111'the ACVI. I report in respect of my examination of the charity's ftnancial statements carried out under section 145 of the Act and in carrying out my èxamination I have followed all the applicable Difeclions given by the Charity Commission under sectÈon 14515llbl of the Act. An independent examination doe5 not involve gathering all the evidence that would be required in an audlt and consequently does not cover all the matters that an auditor considers in givlng their opinion on the finanaal statements. The planning and conduct of an audit goe5 beyond the limited assurance that an independent examination can provide. Consequently, l express no opinion as to whether the financial statements present a 'true and fairf view, and my report is limited to those specific matter5 Set out in the independent exarninerfs statement. Independent examiner's statement I have completed my examination. I confirm that no material rnatters have Come to rny attention In connection with the examination giving me cause to believe that in any material respect.. accounting records were not kept in respect of the charity as required by section 130 of the Act- or the financial statements do not accord with those records,. or the financial statements do not comply with the applicable requirements Conrning the form and content of accounts Set out in the Charitie5 IAccounts and Reportsl Regulations 2008 other than anv requirement that the accounts give a 'true and fair view, which 15 not a matter considered as part of an independent examination. I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the financial statements to be reached. Upshall FCA Mercer & Hole LLP- Chartered Accountants 72 London Road St. Albans Hertfordshire ALI INS
St Albans Old People's Trust- year ended 31 March 2025 Statement of Financial Activities for the year ended 31 March 2025 Unrestricted funds 2025 Endowment funds 2025 Total fund5 2025 Totsl funds 2024 Note In¢ome and ertd¢)wmentsfrom: Investments 124,000 71.110 195.110 195,930 Expenditure on: RaisinÉ funds 114,1941 114.1941 119,375) Charitable artivities 1258,9181 1258.9181 1267,855) 1273,1121 1273.1121 1287.230) Net gains / Ilo$se51 on imie5trnent revaluatlons 133.4711 1120,0981 1153,5691 359.096 54.649 Profit on disposal of investment property Net Income I lexpendlturel Transfers between fund5 1182.5831 71,110 148,9881 171,1101 1231,5711 321445 li Net rnovernent infunds 111.4731 1120.0981 1231.5711 322,445 Reconcillation of fund5'. Totsl furids ai start ot year 3.593,485 2,591.672 6,185.157 5,862.712 Totsl funds at end ctf year 3,482,012 2,471.574 5,953.586 6,185.157 The comparative 5taternent of Financial Activities for the prior year is presented in note 15. The note5 on pages 14 to 21 form part of these financSal statements.
St Albans Old People's Trust- year ended 31 March 2025 Balance Sheet as at 31 March 2025 31 Marth 2025 31 March 2024 Note Flxed assets Investments 5.900,878 6,152,987 Current •s$ets Debto 34.063 34.829 Cash at bank and in hand 44,134 17,095 78.197 51.924 Creditors: 3mountsfallinE due within one year io 125,4891 119.7541 Net current assets 52,708 32.170 Net a55ets 5,953.586 6.185,157 Charity fund5 Endowrnentfvnds 2,471,574 2.591,672 Unrestricted funds 3.482,012 3,593,485 Total funds 5,953.586 6.185,157 The financial 5tatement5 were approved by the Trustees on I r | ., l Lg and signed on their behalf, bv.. C Rolfe The notes on page5 14 to 21 form part of these financial statements.
St Albans Old People's Trust- year ended 31 March 2025 Notes to the Financial Statements l. Accounting Policies Basis of preparation The financial statements have been prepared in accordance with 'Accounting and Reporting by Charitles.. Statement of Recommended Practice applicable to chartties preparing their a¢counts in accordance with the Frnancial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 (Second Edition). and the Financial Reporting Standard applc81e in the United Kingdom and Republic of Ireland IFRS 1021 and the Charitie5 Art 2011 and UK Generally Accepted Accounting practi as it applies from Janua¥y 2015. The financial statements have been prepared to glve a'true and falr, vrew and have departed from the Charities (Accounts and Report51 Regulation5 2008 only to the extent required to provide a 'true and fair view,. This departure has involved following'AccountinE and Reporting by Charities.. Statement of Reeommended Prartice applicable to charities p¥eparing their accounts in accordance with the Financial Reportin8 Standard applicable n the UK and Republic of Ireland IFRS 1021 (Second Edition), rather than the Accounting and Reporting by Charities.. Statement of Recomrrended Practice effective from l April 2005 which has since been withdrawn. The fSnanclal staternents have been prepared under the historical cost convention with items recognised at cost or transattion value unless otherwise stated In the relevant notelsl to these accounts. The Trust meets the definitFon of a public benefit entity under FRS 102. Fund a¢tountin8 General funds are unre5trirted funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the chaiity and which have not been designated for other purposes. DesiEnated funds comprise unrestricted funds that have been set aslde by the Trustees for particular purposes. The aim and use of each designated fvnd is set out in the notes to the financial statements. Endtswment fund5 are to be used in accordance with specific restrictions imposed by the donor. Income All income is recogni5ed once the charity has entitlement to the income, it is probable that the income wlll be received, and the amount of In¢ome receivable Can be measured reliably. Investment Income is re¢ogni5ed when re1Vable based on notification from the investment managers. Expendityre Expenditure 15 reco8aised 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 amount of the obligation can be measured reliably. All expenditure 15 accounted for on an accruals basis. All expenses including support costs and governance costs are allocated to the applicable expenditure headings. Support costs are those ¢0sts Incurred directly in support of expenditure on the objects of the charity. Governan costs are those incurred in connection with administration of the charity and compliance wSth constitutional and statutory requirements. 14
St Albans Old People's Trust- year ended 31 March 2025 Notes to the Financial Statements l. Accounting Policies (continued) 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 condltions attaching are fulfilled. Golng concern The Trustees are not aware of any material uncertainties about the Trusf s ability to continue as a going concern. Fixed asset Investments Common investment funds and untt trusts are a form of basic financlal in5trumerkt and are initiallv recognised at their transaction value and subsequently measured at their fair value as at the balance sheet date using the closing quoted market pricè. Investment properties are initially recognised at their transactlon value. Inve5tmenl propertie5 are professionally valued periodically, and these valuations are reflected in the accounts. The Statement of Financial Actlvitles includes thè net gains and losses arising on rèvaluation and disposals throughout the year, allocated to the appropriate fund. Debtors Short terrn debtors are measured at transaction price, less any impairment10sses. Cash at bank and in hand Cash at bank and in hand includes cash and short term highly liquid investments with a short maturity of three months or less from the date of acqulsition or opening of thè deposlt or similar account. Crèditor5 and provF5i0ns Short term credltors are measured at the tTan5action price. Financial instruments The Charlty only enters into basic financial in5trurnents transactions that result in the recognition of financial assets and liabilities such as debtors and creditors. Financial instruments are initially measured at transaction value. They are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found. an impairment loss is recognised in the Statement of Financial Activlties. Judgements In applylng accountlng poll¢les The preparation of the financial statements requlres managemènt to make judgments. estirnates and assumptlons that affect the amounts reported for 355ets and liabilities at the balance sheÈt date and the amount5 reported for revenues and expenses during the year. The nature of estimation means the actual ovtcomes could differ from those estimates. The key source of e5tirnation uncertainty that could have an impact on the financlal statements relates to the values tsf investments held. Is
St Albans Old People's Trust- year ended 31 March 2025 Notes to the Financial Statements 2. Investment Income Unre$tritted funds Z025 Endowment furbds Z025 Total funds Z025 Totsl funds 2024 Rental income 10.580 10.580 20.791 Income from unit trusts and common investment funds 113.360 71.036 184.396 174,957 InterÈst recewablÈ 74 74 94 Oonatlons CeIved 60 60 88 124,000 71.110 195.110 195,930 rott712024 128,670 67,260 195,930 3. Analysls of Grants Grants to In5tltution5 2025 Grants to Indlviduals 2025 Total Z025 Totsl 2024 Grants payable 13.750 132,731 146,481 178.000 rotu12024 8,426 169,574 16
St Albans Old People's Trust- year ended 31 March 2025 Notes to the Financial Statements 3. Analysls of Grants (continued) Included within grants are arnounts payable to 8 institutions12024- 31 as follow5: 2025 2024 8atford Communlty Group Pets In Need Hertfordshire 650 25 The Pad Project Rennle Grove Peace H05pice Perrycoste sheltered HDuslng Sm311 Att5 of Kindness 2S 3,776 249 1,500 7,200 325 Citizens Advice St Albans 3.000 320 Herts Independeffl LwinE SeJvices London Colney Parish Councll 5,106 13,750 8,426 4. Analysis of Resources Expended by Expenditure Type 2025 2024 M31ntenance and lettlng costs of Investment properties 14.194 19.375 Cost of rai5ingfunds 14.194 19,375 Grants pald and £ommitted Inote 31 Management of beneflclary process Governance Id6,481 178.000 76,960 15,671 19,806 69,810 12.268 Support costs 7.777 Charitable actlvltles 258,918 267.855 Total 273.112 287,230 Management of beneficiary process includes the cost of individuals contracted by Hertfordshire Independent Living Service IHILSI to service the charity. Support Costs totalling £7,61512024: £5,704) related to admini5trativeservices provided bywilliam Fardell in his capacity as Secretary to theTrustees. These have been allocaied between investment property costs, haritable activities and governance costs in the following proportion 20%.'60%.'20%12024.' 20%:60%.. 20%). This allocation is based on tlme spent administefin@ thè relèvant areas of the charity. All costs in 2025 and 2024 relate to unrestricted funds. 17
St Albans Old People's Trust- year ended 31 March 2025 Notes to the Financial Statements 5. Trustee Costs During the year, three Trustees were reimbursed a total of £708 relating to expenses Incurred on behalf of the charity12024.' £181. 6. Independent Examinerfs Remuneratlon 2025 2024 Examination of the financial statements 1,080 2.160 945 All other servlces 1.890 3.240 2,835 7. Staff Costs The charity has no employees. 8. Investments Common inve5tmenl funds and managed fund5 Freehold propertles Total Market valtse At l April 2024 5.627.98? 525.000 6.152,987 Additions 61,460 61.460 Disposals 1160,0001 1160.Ot)Dl Revaluatlons 1153.5691 1153,5691 At 31 March 2025 5,375.878 525,000 S,gJO.878 History¢01 c05t Material inve51rnents 2025 2024 COIF Charkles Investment Fund M&G Charbfund 4,228,171 1,147.707 525,000 4.535,236 1.092,751 525.000 Freehold property at 20 Dalton ste[ St ban5 5.900.878 6.152,987 Freehold propertie5 are stated at their market value. 20 Oakon Street was valued at £525.000 in May 2024 by a chartered surveyoi at Rumball Sedgwlck, and this V31uation is reflected in the balance sheetas at 31 March 2025. 18
St Albans Old People's Trust- year ended 31 March 2025 Notes to the Financial Statements 9. Debtors 2025 2024 Prepayments Dividends due 2,000 32,063 32,021 34,063 34.829 10. Creditors- amounts falling due within one year 2025 2024 Trade creditors 15,977 9.512 12.435 7.319 Accruals and deferred Income 25.489 19,754 Included in accruals and deferred income is deferred income of £1,40112024.. £nlll comprising of the receipt of rental income relating to future periods. 11. Summary of funds Brought forward Intoming Resourtys 114124 rt$our$ expehded Carrled fonvard 3113125 Transfers Gains/ Ilosse51 Inlloutl DesignatEdlund5-capital depreciation General fund5 226,907 226,907 133,4711 3,255.105 3,366,578 124.000 1273,1121 71,110 3,593,485 I24.0 1273,1121 71.110 133.4711 3,482.012 Endowment funds 2.591,672 71.110 171.1101 1120.0981 2,471,574 6,185,157 195,110 1273,1121 1153,5691 5,953.586 Brought forward In¢omin8 Resour¢es V4123 tesour¢es expeAded Carried foNJatd 3113114 £ Transfers inlloutl Gain51 Ilossesl OesigTr#ted funds- capital depreciatK)n General funds 226,907 3,257,$44 226,907 3,366,578 128,670 1287,2301 67,260 200.334 3,484,451 128,670 1287,2301 67,260 21X>,334 3.593,485 Endowment funds 2,378,261 67,260 167,2601 213,411 2.591.672 S,862.712 195.930 1287,2301 413.745 6,185.157 A designated fund, a Capilal Depreciation Account, was set up in 2010 by translerring unrestricted funds to designated funds Isee note 121. 19
St Alban5 Old People's Trust- year ended 31 March 2025 Note5 to the Financial Statements 12. Analysis of net assets between funds Unrestrltted Endowment lunds funds 2025 2025 Total funds 2025 Fixed a55et investments 3,429,304 78,197 125.4891 2,471.574 5,9W,878 78,197 125,4891 Current aet5 Creditors due wbthin one year 3,482.012 2.471,574 5.953,586 Unrestrirted Endowment funds funds Z024 2024 Total funds 2024 Fixed asset investments Current assets 3,561,315 51.924 119,7541 2,591.672 6,152.987 51,924 119.7541 CTedr(or5 due within one year 3,S93.485 2.591.672 6,185,157 The endowment fund was set up from the proceeds ¢>f the sale of land and it is the Trustees. poliLV to maintain its capital value. The Endowment Fund balance is reviewed annually by the Trustèes and an amount is transferred to the Capital Depreciation Account from thÈ General Fund to protect the value of the Endowmenl Fund if the Trustees deem it necessary. 13. Related partytransactions Three Trustees were reirnbursed a total of £708 in the year, for expendlture Incurred on behalf of the charity12024.. £181. There were no other related party transactions in ihe year12024= £4341. Prior year transactions related to expenses incurred by Mike Gray (husband of Sudabe Gray.. Trustee) incurred on behalf of the trust. 14. Controlling party The charity is controlled by its Trustees In thls and the prior year.
St Albans Old People's Trust- year ended 31 March 2025 Notes to the Financial Statements 15. Comparative statement of financlal activities forthe year ended 31 March 2024 Unrestrirted fund$ 2024 Endowment fund5 2024 Total funds 2024 Note Income and endowments fforn: Investments 128.670 67,260 195,930 ExpÈnditUfe on: Ralsing funds 119,3751 119,3751 CharStable attivitie5 1267,8551 1287,2301 1267.8551 1287.2301 Netgains I Ibssesl on Investments 145.685 213,411 359,096 Piofit on disposal of Investment Property 54,649 54.649 Net Incorne I lexpendlturel 41,774 280,671 167,2601 322,445 Transfers between fund5 li 67,260 Net moverne)t Infunds 109,034 213,411 322.445 Recondllatlon of und5.' Total fun(ts at start of year 3,484,451 2,378,261 5,862,712 Totalfynd5 at end of year 3.593.485 2.591,672 6,185,157 21