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 regIste￿d 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 reSoUr￿S 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 Con￿rning 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 appl￿c8￿1e 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 re￿1Vable 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 st￿e[ 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 a￿et5
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