WALKER BARSTOW HOMES FINANCIAL STATEMENTS FOR THEYEAR ENDED 31 DECEMBER 2024 Charity Number 222564 Housing Association Number A1276 Fortus
WALKER BARSTOW HOMES INDEX PAGE TRUSTEES REPORT 1-5 INDEPENDENT EXAMINER'S REPORT STATEMENT OF COMPREHENSIVE INCOME - 2024 STATEMENTOF COMPREHENSIVE INCOME- 2023 STATEMENT OF CHANGES IN RESERVES STATEMENT OF FIWNCIAL POSITION 10 STATEMENT OF CASH FLOWS AND NOTES TO STATEMENT OF CASH FLOWS NOTES TO THE FINANCIAL STATEMENTS 12-22
WALKER BARSTOW HOMES TRUSTEES REPORT FOR THE YEAR ENDED 31 DECEMBER 2024 REFERENCE AND ADMINISTRATIVE INFORMATION Charity Number 222564 Regist•r•d Addr888 Multerry PM 11 Walmgate York Y01 9TX Principal Addrns$ caMron Walker Court Bishoplhorpe Road York Y023 1LD Trustees Mrc W Birch MrSArden Mr K MacDemott Mrs L Ke18ey Mrs L Lacy Ms J Dean Mr J Mh1n (Re&gned 05102r20251 (AFwinted 0511112024) Proporty Agents Mulberry PM Ltd 11 Walmgate Yo) Y019TX Principal Bankers The Co-OFErative Bank PIC P O Box 250, Skelmersdak, M8 6 Lloyds B8t PIC 65-68 Bnggate. Leeds. LS16LH Insurance Broker Grout Insur8nc Brokers Ltd w(M)h House, 43 Gecfge Street Croydon, Surrey, CR10 1 LB Indgpendent Examiner F H3rd FCA Fortus LimTted Equinox House Clifton Parf( York. Y030 SPA
WALKER BARSTOW HOMES TRUSTEES REPORT FOR THE YEAR ENDED 31 DECEMBER 2024 {cONTIN1DI The trustees wesenl their report and fin8ncHI staements for the year ended 31 December 2024. The trustees have adopted the provisions of the Slalemenl of Reccynmended Practic£ ISORPI for Social Housing PmiLYers 2018 and applieaLle wuntiThJ standards, thedelails a selout further in the basOf preparation and accounting policies in note 1. OBJECTIVES The staled objectwe of the Iwst is to provide xccxnmodalion to neY persor6 tho are SIdent wf(hin a radius of ten miles from the General Post Office, York at the time of aFvoinlment. There has been no change in this durtng the year. The trust (werates purely for the benefit of the publ as stated atrthie. The Irusl's aims are.. To provide and maintain high qualty housing and supportfor peq)le of need in York, To create a secure, SUPKX)rtive environment for such people to INe independenlty and th dignty., The objectwes for the year were the continued Maintenan and moderni5ation, where FK)ssible, of the buildings and grounds and of Ihe resitsnls, acrAynmodatKJn. The Walker Barstow H)mes accomm¢xlation consists of 16 sew-conlained residential f1$ 3 seff-contained residentBI IngalO%s tojelher wf(h a communal lounge, laundry facilities and gardens forthe use of the residents. The main premises of Cameron Walker Court are eomprised of a V$tOreY building of 12 flats, 3 bungalows and 8 communal lounge. Two close-ty satellite properties of 1 Adreth Grove and 10 Cameron Grove are eacj) spl into two flats. All prOptieS are situated on Bishopthorpe Road, York. The trustees have paid due feg¥d to guidance issued by the Chwty Commtsyon in deelding whal 1vIlle5 the trust should undertake. The Iruslees continue lo revi and redraft the trusY$ policEs and procedures and the residents, handbook has trken kept up lo dale. Th8 $Yemi reC&v a quinquennial inspection in May 2022 with no major ilams requiring attention. A plan of mainlanCe is in place lo address rtems identrfied n the report, wrth many alrearty CoMpted. ACHIEVEMENTS AND PERFORMANCE A maximum of 19 Tesidenls were provided wrth accc¥nmcaYation, wilh one flat b¥¢Jning vacant towards the eTr the year. Expenditure in 2024 has concenltated on routine and cycltcal Kyoperty mainten and safety checks. The expenditure has again been more rK)Jmal after a period of high fLal vacancies and consequent refurbishments. The continuing maintenance of the gardens provides the resKlenls wi(h an attractive and safe extemal environment for leisure and SLKial &liMlies. Wrth the gOIng monthty hoyting of a residènts, coffee morning in the communal lounge, the residents continue to generate more interlon as a group. As a result of Iruslees conducting 1-t¢>1 meetings wrth residents the Trust is eyploring ways of enu)ur8ging the resident comTnunity lo use tr*ir communal lounge more. Throlgh an online daia base fci h¢)5ting all the Trust's documentstion a1 the papers for trustee me8tings, th has dispensed wrth the need to distribLrte sensitive infomalion and aL%o ensures that the Lgtesl version of wIleS etc. are the ones being vEwed.
WALKER BARSTOW HOMES TRUSTEES REPORT FOR THE YEAR ENDED 31 LECEMBER 2024 IcoTrmNUEDI VALUE FOR MONEY METRICS This is a requirement of the Housing Association.. 2024 2023 NHF. Business Health ratin Mar in overall ratin Mar social housin EBITDA MRI Ok of interest cover Oevelo ent&Ca aci New Su social housin units % New Su non-social housin units 0 Gearin Outcomes Reinveslmenl O Asset Mana ement Return on Ca ital Em eratin Efficienc Hesdline social housin cost 26% 26% 252% 19% 20% 122% 3¥/0 230°/0 55% 400 46% 12% 8% 8% 3% runil £3.462 £3,853 £5.136 igures taken from NHF report 2024 FINANCIAL REVIEW The total CoMphenSlve InCe was £36,658 (2023.. incorne of £24.1891 for the year. Turnover was £98,172 12023.. £94,895) with a surplus for the year on ordinary activrties of £35,281 (surplus of 2023.. £23,921). The ITUStees review the major risk$which the trust faces on a regular basis with Ihetrust's managers and believe that maintaining the trusts unrestricted reserves as shown below, combined with 2 regular review cf the trust's finan$ and financial controls will provide sufficient resources in the event of adverse conditions. The trustees have also examined other t¥>eralional and business risks faced by the trust and confim that they have established systems lo mitigate any significant risks. These include an annijal inspection of the stair lift equipment, together with PAT testing all electrical, warden call, fire deleclion equipment in the properties and obtaining annual gas safely certrficates. The structural and safety stale of the trusvs proty 15 assessed through a quinquennial review process. The trusvs principal source of income is the WklY maintenance contributions from residents. Tnese are kept undèr review with yearfy budgets prepared to ensure the GonlinuiNJ maintenance schedule and basic undertying costs are met. The local rent officer is also periodically consulted to ensure the conlribulions are kept below market rents. The Iruslees have assessed the major risks to which the trust is exSed and are sa11sfd that systems are in place to mitigate exposure lo the major risks Thetruslees reviewthe major risks which the trustfaSOn a regular basis with the trust's managers and believe that maintaining the trusts unrestricted reseNes as sh¢)wn below, combined with a regular rewew of the twsl's finances and finanual ctrOlS, will provide sufficient resources in the event of adverse conditions. The trustees have also examined olher operational and business risks fad by the tru* and confirm that they have established systems to mttigale any significant risks.
WALKER BARSTOW HOMES TRUSTEES REPORT FOR THE YEAR ENDED 310ECEMBER 2024 {CONTINUED) RESERVES POLICY It is the Folicy of the trust that unreStrted funds which have not been designated for a specific use should be maintained al a level equivalent to six month's core expenditure. The trustees considers that reserves at this level will ensure that, in the event of a signrficant drop in funding, they will be able to continue the Irusl's current activities while conStderal is given to ways in which additional funds may be raised. This level of reserves has been maintained throughout the year. The balance of unrestrtcled fvnds al the yearend had increased by £.778 then £16,680 is transferred to the extraordinary repair fund and £13,400 is transferred to the cyclical maintenance fund leaving £348,38912023'. £341,691). The designated fur$ are at £36.371 {2023'. £23,370). The restrided fund lor extraordinary repair is at £118,03512023.. £101,0761. Free reserves at the yearend were £48,75512023.. £37,924). PLANS FOR FUTURE PERIODS The trustees wll continue to expend moyt ofthe trusys total income on the n8cessary and ongoing maintenance and refurbishment of the properties owned by the trust for the benefit of both current and future residents. The Iruslees will also keep their number and knowledge under review lo provide as broad a spedrum of skill sets and expertise as possible. Fu¢1her upgrading of the property is to be reviewed and planned for financially lo keep the premises up lo modem requirements. This prograrnme of work will be informed in part by the recent quinquennial survey and rewrt. The Charity's scheme dcuMent is being revIevd as with th? passage of time il is becoming le88 oppropriale. STRLKTURE, GOVERNANCE AND MANAGEMENT The Walker Almshouses Yort< Charity Scheme cnmenCe in 1912 having been founded in 1909 in Bishopthorpe Road with propety acquired from the Estste of Charles Cameron Walker. Barstow's Hospital was founded in 1702 by the wmdow Alice Barstow with buiEding$ in Blossom Street York these were sold in 1859 and land promptly acquired In Caroline Street where homes wefe completed in 1860. becoming a recognised charity in 1921. Barstow's H05pilal Homes were demolished in 1967. The Walker Barstow Homes trust was established by a charitable trust deed and the amalgamathJn of The Walker Almshouses York and Barstow's Hospital on the 14th February 1974, by a scheme approved by tha Charity Commissioners for England 8 Wales. Registration Number 222564. This scheme was ended and approved by the Charity Commissioners on 9th September 1980. The Walker Barstow Homes is Tegislered with the National Almshouse Association. Registration Number M1100. The WalkeT Barstow Homes is a Registered Landlord registerecl under The Housing and Regeneration Act 2008. Registration date 26th January 1976. Registration Number A1276. When complete the body of trustees can consist of nine persons. The minimum number of trustees lo form ¢worum was amended lo three by a m*ting of trustees held on 15th December 2015. Trustees shall be persons who through residence, occupation, employment or otherwise have special knowledge of the City of York and its n81ghbourhood. Trustees are recruiled after a careful review of the needs of the trust and the skills and expertise which re5ctiVe new IDJslees can provide and are appointed by a resolution of the trustees passed in a special meeting for a lern of fiv8 yeats. Trustees are encouraged to allend Almshouse A$S(latIOn 8eminars. In 2024 the Charity was able lo refresh the trustee bcxjy by appointing John Mathin as a trustee, he brings welcome financ1 skills to the trust body. Saély, the l£le Keith MacDeimott had to lender his resignation through ill health, we were very grateful for the skill and care he gave lo his contributions to the Charity during his lime as a trustee.
WALKER BARSTOW HOMES TRUSTEES REPORT FOR THE YEAR ENDED 31 DECEMBER 2024 IcoKfiNUED) STRUCTURE, GOVERNANCE AND MANAGEIAENT (CoTr1NUEDI The trustees meet at least three times a year lo athiinister the affairs of Ihe trust and to receive reports from the Clerk. Treasurer and Property Manager. Day lo day operational matters are dealt wrth by the Chairman, Clerk, Treasurer and Property Manager. The Chairman and Clerk have been granted the power to approve urgent funding, outside the normal truslee8' meetings of £1.000 and the Property Manager up lo £300. The Clerk's duties have been contracted to Mulberry ProFerty Managemenl along wflh the homes, property management duties and the Treasurerfs duties. Mulberry a150 provides similar suf(es of services lo other Almshouses in t1 York area. FUNDS HELD AS CUSTODIAN TRUSTEE The trust occasionalty holds funds on behabf of the Walker Barstow Fkjmes Residents. These are lunds the residents raise al their coffee momings and occasional fund raising events. Re8idenls are responsible for decidiw when and how such fund5 afe spent. Funds held at 31 December 2024 were £nil12023'. £nill, TRUSTEE'S RESPONSI8IUTIES The trustees are responsible for pieparing the fepoTI and financial $talements in accordan with appIa)le w and regulations. The registered social housing legislation require the Iruslees to prepare financial statements for each finanoal year which give a true and fair view of the stale of affairs of the chartty and of its Income and expendituTe for that period. In prsparÈng the financial Statements the tnjstees we required to'.- Sele¢X suilable CoUntIng pK)le8 and apply them consk8tenlly.' make1udgnenls and estimate5 that are Teason8lJe and prudent" State whether applicable accounting stsThJards have been f¢JloY4ed, subject to any material departwes dilOSed and explained in the financial statements,. and Prepare the financial sl*menls on a going conwn basis unless it o inaFprcyriate to presume that the charty wll ntsnue in bugness. The trustees are responsible for keeping proper &counling records which dtsclose wf(h reasonable aecurncy al any lime the financial positn of the charity and lo enable it lo ensure that the financial slalements compty wth the Housing and Re9eneralion Ad 2CQ8 and The Accounting Direction for private reyistered providers of social hou$in9 in England 2019. They have gene1 responsbilty lor taking reanable steps lo safeguard the assets of the charity and det fraud and other Irular1tieS. Awoved by the trust 12 August 2025 and si9d on their behaff by.. £QLL Mr C W Birch- Chair Mr S Arden- Trus
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF WALKER BARSTOW HOME5 YEAR ENDED 31 DECEMBER 2024 I rewt to the charty trustees on rny examination of the aceL)unts of the d)arity for the year ended 31 December 2024 which comprise the statement of comprehensive income, staternent of changes in funds, statement of riTrancl position, statement ol cash flNs and relevant notes. Respeetlve respon8ibiliti8s of the trustees and roporting a¢¢ountsnts The trustees of the Registered Social Housing Provider are responsible forthe preparation of the accounts. and they consider that the Registerèd Social Housing Provider is exempt from an audit. It is our responsibility to carry out procedures designed to enable us to report our opinion. Ba858 of opinion Our procedures consisted of comparing the accounts wf(h the accounting records kept by the Registered Social Housing Provider and making such enquiries of the officers of the R8gislered sla1 Housing Provider as we considered neeessary for the purpo$e of this report. These procedures provide the onty assurance expressed in our opinion. Opinion In our IniOn.. the accounts for year ended 31 Dernber 2024 are in accordan with the accounting record5 kept by the Registered Social Housing Prowder under paragraph 13512llal of the Housing and Regeneration Act 2008.. having regard only to, and on the basis of the infomatKJn contained in the accounting records.. the accounts comply with the requirements of the Charilles Act 2011. the Registered Social Housing Promdei has satisfied the conditions for exemption from an audit of the accounts for the year ended 31 December 2024 speafied in section 136131 of the Housing and Regeneration Act 2008., the accounts comply with the requirements of the Housing and Regeneration Act 2008 and the Accounting Direction for private registered providers of sooal housing in England 2019. Frances Howard FCA F¢Jtus Limited Equinox House Clifton Park Shiplon Lane York Y030 SPA 2 October 2025
WALKER BARSTOW HOMES STATEMENT OF COMPREHENSIVE INCOME YEAR ENDED 310ECEMBER 2024 Unrnstricted 2024 Oesignated Re¥tricted 2024 2024 Total 2024 Total 2023 Not• Turnover 98.172 98,172 94,895 Operats'ng cc6ts {62,6261 12,703 1442) 165,771) 173,2101 OFeraling Surpluslltwl) 35,546 12.7031 1442) 32,401 21.685 Interest rNab and Similar In¢ome Interest payable and simllar expenses 767 3.071 2,HO 11911 11911 2041 Surpluslldeficitl for the year on ordinary activthes 1399) 14421 35,281 23,921 36,122 Movement in fair value financbal instruments 721 1,377 268 Total comprehonsiv8 Incomè I lexpenditurel for the year The above figures are derived from continuing operatnns. AP0ved by the trlee$ on 12 August 2025 and signed on their behaw by". £ILL Mrc WBirch-Ch8ir Mr S Arden - Truste
WALKER BARSTOW HOMES STATEMENT OF COMPREHENSIVE INCOME COMPARATIVE- YEAR ENDED 310ECEMBER 2023 Unrestricted 2023 Dosignatod Restrthd 2023 2023 Total 2023 Nots Turnover 94,895 94,895 Operain9 Costs 159,785) {11,2571 12.1681 173,210) Operating surpluslldefrill 35,110 111,2571 12,1681 21,685 Interest weIVab and similaf InC(e Intere$l payable simitar expenses 325 2,115 12041 12041 SuWusJldeficill forthe year on ordinary *tiwlies 23,921 35,231 19,1421 {2.168} Movgnenl in fair value of finar81 instruments (1371 4D5 268 Total comprehensive Incomo 1 {expenditure) for theyear
WALKER BARSTOW HOMES sTATEMETr OF CHANGES IN RESERVES YEAR ENDED 31 DECEMBER 2024 In¢om& and Expenditure Designated Deoignated Restrict¢d Routin Cycll¢al Extraordinary Maintsnance Maintenance Repair Total 2024 Asat 1 January 2024 341,691 12,696 10,674 101.076 466,137 Transfer Total comprehenswe incomellexpendiluiel for the riod {30,080} 13,400 16,680 36.778 (1,207) 808 279 36.658 A5 at 31 December 2024 Incomè and Dgslgnatod DeBignated Routine Cyclical Expenditure Malntsnance Maintgnan¢• Ro5tri¢tedl Deslgnated Extraordinary Repair Total 2023 Asat 1 jUary 2023 360,644 12,696 135,6881 104,2 441,948 Transfer 154,0471 55.504 11.4S7 Total comprehenswe incomellexpendilurel for the perd 35,094 19,1421 {1,7631 24.189 A$ at 31 December 2023
WALKER BARSTOW HOMES STATEMENT OF FINANCIAL POSITION YEAR ENDED 31 DECEMBER 2024 Note 2024 2023 Fixod a$$¢ts Tangble fixed assets Investments 299,634 303,767 350,286 352,190 Current assets Debtors and prepayments Cash al bank and in hand 4,1 1738 168,701 123,703 cdItorS.. Amounts falling duewithin cq)e year Net cuffent asset8 10 11354 157.347 119,131 Creditors: arrK)unts falling due after one year 12 Totsl not assets R8seNes Income and expefKliiure reserve Designated funds Restred funds 348,389 36,371 18 341.691 23,370 10 Total Re80P4es The financial statements were approved and aulhorised for issue by the trustees on 12 August 2025 and signed on their by.. Mrc WBirch-ChaiY Mr S en- Trustee The notes on pages pa 1110 Page 21 form part of these accounts. 10
WALKER BARSTOW HOMES STATEmEp OF CASH FLOWS YEAR ENDED 31 DECEMBER 2024 Note 2024 2024 Net cash generated from operating actlvltl85 43.721 25.293 Cash flow from Investlng actle$ Payments to acquire tangilje red assets Interest receivable Net cash flow Irom investlng a¢tivities 120,2981 647 7.417 Cash Ilow from financing a¢tivtti88 Repayment of long lemi loans Rent received frcffl investrrEnl properbes 1191) 18 1204} 18 Not Change in ca$h and cash equivalents 44.195 7.231 Cash and cash equniatenls at 31 December 2023 119 112734 Cash and cash equlvants at 31 December 2024 Notsts to the statement of cash flow8 2024 2023 1. Net cash genor*od from operating activities sLlUs fu the year 36,658 24,189 Rent received from investment propeeS Interest payable Interest re1Ved DepTlatI Accumulation investment addttions {Gginsylosses on investments [IreaS8)Idecre8$e in debtors Increasel(decreasel in creditors 118 191 1647) 4,133 18521 11,3771 18031 6,436 118 204 12,422 4,500 17421 12681 {214} Net cash flow from op&rating actlvities 11
WALKER BARSTOW HOMES NOTES TO THE FINANCIAL STATEMEFirs YEAR ENDED 31 DECEMBER 2024 1. AccouMfiNG POLICIES Statutory infomation Walker Barstow H¢ynes is a registered charity in England & Waes and registeraj wrth the h¢)using asscriat1c. The registered address is 11 Walmgate, York, Y019TX. Walker Barstow Hcmes was established by the amalgamation of TheWalkerAlmshous8sYork (schemes dated 1 March 1912 & 17h October 19681 and Barslow's Hospital (schemes dated 22DJ 4Dril 1921 and 3rd October 19671 on the 14th February 1974, by a scheme approved by the Charity CoMmissnersf0r England andwales. This scheme was amended and approved by the Charty CommLssioners on 9th September 1980. The charity registralKJn number 222564. The Walker Barstow Homes is regiered with the National Almshouse Asscciation. Registration Number M1100. The Walker Batstow Homes 15 a Registered s(la1 Landlord registered under The Housing and Regèner8ts'on Ad 2008. Registration dale 26th January 1976. Regk%trats"on Number A1276. 8asls of preparation The financial slalements have been prepared In accordance with 8pplicable accounting standard5 indudirg Financial RerK)rting Standard 102 Thg Financial R&porting Standanl AppIable in thé UK and RepubliG of Ireland IFRS 1021, the Statement of Recommended Practice for Social Housing Providers 2018, and with the Accounting Direction for private registered providers of social housing in England 2019. The financial statements are also prepar&Y under the requirements d the Housing and Regeneration Act 2008. The financial slalements have been prép8reé on a going concern basis under the historical cost convention. mcNJrfied lo include certain iEems al lair value. The financial statements are prepared in sterling, which is the functic81 CLJffency of the Charity. Monetsry amounts in these financial statements are rounded to the nearest £. The significant accounting FolicS applied in the preparation of these financial statanents are set out beJN. These p)licies have been consistently applied lo all yearys presented unless otherwise stated. Wrthin the Scheme dated in 1912 for the Walker Amshouses York, worded the trustees intention lo establish an Endowment Fund. However, trustees have been unable to Klenlify in the charity's records which assets should comprise the Endowment. Therefore, the trustees have prepared the accounts without an Erndowment Fund bul identified the components of the Endowment as unrestricted and designated fvnds. Tfuslees are resolv&l lo (rnlinue lo take reasonable steps to delemiine which assets comprise of the Endowment Fund. The requirements of the SORP". Actnting by Registered Swial Housing Provider5 2018 relating to C¢JnKKJnenl aco)unling has not been follchved by the trust as they do not feel that rt would add any benefit for the users ofthe accounts. Going wnc8rn At the time of approving the financHI slments, thè trustees have a reasonable extat)n that the ¢hity has adequate resou5 lo conb.nue in operational for the fOre*eab future. Thus, the Iruslees corrtinue to adopt the going concom basis of acc£Junting in preparing the financial statements. 12
WALKER BARSTOW HOMES NOTES TO THE FINANCIAL STATEMEKrs YEAR ENDED 31 DECEMBER 2024 1. ACCOUNTING POLICIES (Gontinuedl Tangiblo red •tS and depre¢iation Tangible fLxed assets are in(tially measured at cost and sub5equenUy TrEasUrl at cost or valuation, nel of depreciation and any irrpainnent105ses. Co$1 relating lo th8 housing properties includes costs directty altribulable lo making the asset capable of operab.ng as intwded such as the cost of acquiring lanLI and buildings, developments costs. interest charges on loans during the development peri(KJ and expenditure on imyovanents. Expenditure on improvements will only be capilalised when it results in inuemental fvture benefrts such as increasing rental income, rUcIng rnainlenance costs, or resulting in a sKJnrfvnt exiengon of the useful econom lrfe of the propety. Deweciab"on is wognised so as to e off the cost or valuation of a$sets less ther sIdUal values over their useful INes on the following bases.. Housing properties (completed schemes) Hou51ng A(latIOn grants Improvements to Prwerty Fixlures and fittings Equipm8nt The gain or lass arising on the disposal of an asset is detemiined as the difference beknn the sak proceeds and the Lsrrying value of the asset and is recognised in the statement of financ1 ath'vrties. Nil delatIOn Nil depreciation 10 years 5-8 years 4 years Straight line straight line Straight line In¥ents FiKed asset investments are inttialty MeaSud * Iransactpjn price excluding lrdnsaciln costs and are subsequently tTea5vred at fair value at each reryjrting date. Changes in lair value are reccgnised in nel incc¥nellexpendilurel forthe year. Transaction costs are expensd as incurred. Impaimient of fixed assets At each rewrting end date, the trust revwts the carying am¢1 of its tangible assets lo delemine whelher there is any indicalb)n th81 those assets have suffered an impairment bss. If any sh indallOn exists, the recoverable amount of the asset is estinaled n order lo detemiine the extent of the impairnent loss (rf any). D8btors and ¢reditorB recelvable I payable within one year DebtOTS and creditors wrth no slated interest rate and receivable or payable wf(hin one year are recorded al Iransa¢li)n wce. Any losses arising fri)m rnpaimenl are recognised in the s18temgnt of o)mpTehensive income in other administrative expense5. Tumover All income is included in the statement of ecMnprehensNe income when the charity is legally entitled to the income and the arnounl can be quantrfied wlh reasonable accuracy. The statement of cmprehensive in(rfyme is credited, on an xcruals basis, wth the contn'bultin frc%n residents. Operating costs Expenditure is included in the statement of comprehensive ineome on an accruals basis. 13
WALKER BARSTOW HOMES NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 DECEMBER 2024 1. ACCOUNTING POLICIES IcontJnued) Housing Associatlon gr4nts Housing Association grants are paid by The Housing Corporation to redu the cost of development and is Iherefore shown as a deduction from the cost of housing properties on the balance sheet. Housing Association grants are repayable under certain CircumstanS. primarily following the sale of a prOrtY, bul will nomally be restiicled to net proC£S of a sale. Fund acwuntlng Unresliic*ed fLmds can te used in aCcordae wrth the charitable ots'ectives at the discretion of the trustees. Designated funds Designated funds are part of unresliicted funds which have been earmarked by the board for a partular purpose. Such des¥JnatlCs may be reversed by future board deusions. Expendrf(ure cannot be directly sel against desMJnated reserve5, bul it can be taken through the inwme and expenditure attounl. A transfer is then made from designated funds as awropriate. 2. CRITICAL ACCOUNTING ESTIMATES AND JU[EmENTs In the application of the trusts 8ccounting policies, the Iruslees are required to make judgements, estinates and assumption5 a)ut the carying Jnounl of assets and liabilities that are not adIlY aFparent from other sources. The estimates and associated assumplion$ are based on historic81 experien and othw faolors that are CCldèred lo te reVant. Actual results may diff&r from these estimates. The estimates and undedying assumptions are reviewed on an ongoirvj ba&s. Revsions to accounting eslrnales are recognised in the period in which the eth'mate is Tevised where the revision affects onty that Feriod, or in the pericKI of the revision and fLrture perioKls where the revision affects both current and fLrture reriod$. 3. SOCIAL HOUSING TURNOVER AND COSTS 2024 2023 Swal housing18ttings 98,172 94,895 Total lumowfrcrn 5CC181 housing expend'lure 98.172 94,895 771 s81 housing aclivty expenditure Operating11)ssllsurplus SOCkg1 housirs 8ctNities 14
WALKER BARSTOW HOMES NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 DECEMBER 2024 4. OPERATING COSTS Unrestrictsd Dosignated Restricted 2024 2024 2024 Total 2024 Light. heal arKI power Maintenance Call system Telecommunications Insurances Estsle managent costs Water & sewerage SubsCriptn$ Professional fees Actountsncy fee5 DeptIon 8,589 22,277 1,185 728 2,483 14,993 3,107 8.589 25,262 1,345 728 2.483 14.993 3,107 2,543 160 442 2,263 2,022 4,133 2,022 4,133 HousAng expenditure Unrvstricted 2023 Designat8d 2023 Restricted 2023 Total 2023 ghl, heat p0er Maintenance 6.378 19,151 626 234 2,585 15.301 2.527 1,192 5.383 1,W8 4.500 6,378 32,576 626 234 2.585 15,301 2,527 1,192 5,383 1,908 4,500 11.257 2,168 Call system Telecommuni1tsn$ Insuranees Estate management costs Water & sewerag8 Sub5cripl¥)ns Professional fees Accountsncy fees DepreCHn Housing expenditure Void bsses were £nil12023'. £nill Housing accDmmoYalion units were 1912023.. 19} Act0ncY1eeS includes pgyments tothe independentexamineT of £2.02212023.. £1,9)81 forthe independent examination and £nil12023: £nill for other accountancy serwces. 15
WALKER BARSTOW HOMES NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 DECEMBER 2024 5. I1EREST AND OTHER RNANCE INCOME AND EXPENSES Unrestricted Doslgnated R•std¢tsd 2024 2024 2024 Total 2024 Inlerest recolvablo and simllar income Rental Irome InC¢e from ltsted investments Interest receNab 18 18 102 647 2,304 2,4C 647 Inter•st payable and similar expènses Loan interest Unrestricted Designatsd R¢strl¢ted 2023 2023 2023 Total 2023 Interest receivable and similar income Rental income Income fiom ltsted investments Interest receivable 18 18 102 2.115 2.217 205 205 Interest payabl& and similar ¢xpen8e8 Loan inter8sI 6. TRUSTEES AND KEY MANAGEMENT PERSONNEL REMUNERATION None of the trustees lor any r$OnS connected wth them) reiVed any wnunwion cw benefrtsfrom the trust during the year and the preceding year. During the year, no trustees had any expenses 1Mburged or paid dirth by the chanty12023.' £180 eXnSeS for 2 trustees attending theAlmshouses seminl. 16
WALKER BARSTOW FKIMES NOTES TO THE FINANCIAL STATEMEIITS YEAR ENDED 31 DECEMBER 2024 7. TANGIBLE FIXED ASSETS Houslng properties (completed 8chemgs) Housing Improve Fixiuros Associatlon ments to & Equipment Grant Property Fittings Total Costlvalu8Uon As at 31 December 2023 Additions 507,681 {221,1421 1,002 56,535 22,748 366,824 As at 31 Dember 2024 Depreciation As al 31 December 2023 DepreciatK)n charge 67 100 40,242 4,033 22.748 63,057 4.133 As * 31 DeCber 2024 Net Book Value As al 31 Dernber 2024 AS * 31 cmber 2023 The net bock value ot land and buildings c(xnprised.. 2024 2023 Freehold The bLbilding known as Cameron Walker Court, Bishopthorpe Road. York, can onty be used as almshouses f¢y the accomrnodalion of residents in furtherance of the Charity's ots'ects. The main building of 12 self contsined ats, and grounds, which comprises gardens, 3 bungalows and a residents, lounge, has no historic cost and i represented in the balance sheet by cost of £221,795 which was repair and renovatb)n worf( done in the earty 1980's. £66.680 for the construction of the residents, lounge in 1993 and £48.564 for the renovation of the warden's bunga in 1999. Two add((KJnal pr¢Jperties were subsUen1IY acquired by the trust, both being onverted into ftats each". 1983- 1 Aldreth Grove PUhase cost of £9,330 and conversion costs of £20,292 also renovated in 1997 al a cost of £22,441. 1997 - 10 Cameron Grove purchase cost of £57,664 and Conversion costs Lrf £61,115. The amunl of borrowing costs caprtalised is £15,074. Housing Association grants the Housing CorporalDn, lolalling £221,142, have ken recewed in thè past towards approved schemes. Under certain circuMstanS these grants are repayable, primarily following the sale of the property, but usualty reslrited to nel sale prcceeds of the sale. Deregislering as a Swial Landlord coukl also make the grants repayable 8hoUgh this deck%K)n would lie wlh the Ifxal aLrthonty involved due to the restructuring of Its Hou51j Corporation. The trustees Undetand Cases are deartwf(h on their own merits and no decision would be given pric to deregbstering. In the cpini(ffi of the Tnjstees the res>Jual value of the almshouses exceed their hislcric cost. 17
WALKER BARSTOW HOhES NOTES TO THE FINANCIAL STATEMEPffS YEAR ENDED 31 DECEMBER 2024 8. FIXED ASsS- INVESTMENTS 2024 2023 Al 1 January 2024 Addition at cost Gainll105sI in the year 48,423 852 1,377 47,413 742 268 At 31 December 2024 UK equity Investm•nts atfairvalue compri80'. 175 M&G Charty Multi Asset Accumulation Shares 12,414 M&G Charity Muki Asset Income Units 1.054 M&G Charrfund Incorne Units 1.708 Charinco Common Investments Unil$ 21.187 11,524 15.519 2.422 19,614 11,1S0 15,125 Historical cost as al 31 December 2024 9. DEBTORS AND PREPAYMENTS 2024 2023 Trade debtors Other debtors PreFk9ymenls 1.767 38 2,736 1.143 38 2,557 10. CREDrroRS: AMOUNTS FALLING DUE WITHIN ONE YEAR 2024 2023 Other loans TTade creditors Payment rec8ived on account Accmals Defeired inc(The 369 3.645 380 1,201 50 2,589 352 7,290 Note11
WALKER BARSTOW HOMES NOTES TO THE FINANCIAL STATEMEfrThS YEAR ENDED 31 DECEMBER 2024 11.DEFERRED ITrKOME 2024 2023 At 1 January 2024 Amounts reaSed lo income Additions during the year 352 1352) 717 {7171 352 At 31 Deconber 2024 The deferred income relates lo rèsidents, rJ)ntrbutions Fold in advance. 12. cREDoRs.. AMOUNTS FALLING DUE AFTER ONE YEAR 2024 2023 Other loans The k)an includes aggregate amounts 01 £3,229 (2023.. £3,532) which fall due after five years whth are payable by instalmenls. The loan otjtstsndwig at the year end is with City of YO Council and is payable in an annual inslalments plus interesl. The loan will be repaKJ in full in more than five years. The interest rate Dn the City of York Council loan is currently 3.44% and is variab. As a lender to the trust, Cty of York Council have indicated they have no Objectn5 lo any de-registration of the trust as a regtered scoal housing provider. 19
WALKER BARSTOW HOMES NOTES TO THE FINANCIAL STATEMEpirs YEAR ENDED 31 DECEMBER 2024 13. ANALYSIS OF FUNDS Balance bltwd 1 January 2024 Balance cld 31 December 2024 aluations Income Expondlture Transl•rs Unrestrfcted fund8 General funds 341,691 98,939 {62,817} 130,0801 656 348,389 Unrestrictsd funds- d•5ignated Routine Maintenance 12,696 Cydtcal mantenance 10,674 11,2071 11,4961 11.489 24.882 13,400 Total designated funds 23.370 12,7031 13.400 36,371 Restricted funds Extraordinary fep8ir 101,076 14421 16.680 721 118,035 Endowment funds Repair fund Totsl funds 466,137 101,243 65,9S21 1.377 502,795 Balancè blfwd I January 2023 8alanee cfvd 31 D•¢¢mber 2023 Revaluations Incomè Expèndlture Transfe Unrestrictod funds Gen81 funds 360,644 95,220 159,9891 154.047) 1137) 341,691 Unrgstricted funds- d•signated Routine mainten3nce 12,696 Cyclical maintenance 135,6881 12,696 10,674 2.115 {11,2571 55,504 Total designated funds 122.9921 2,115 {11,2571 SS,504 23,370 Restricted funds Extraordinary repair 104.296 12,1681 (1,45n 405 101,076 Endowment fund$ Repairfund Total funds 441,948 97.335 173,4141 268 466,137 20
WALKER BARSTOW HOMES NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 DECEMBER 2024 13. ANALYSIS OF FUNDS {continued) Routine Maintenance - the objective is to maintain a suitable fund to coveT routine maintenance such as Ihe Quinquennial inspection, EICR and other sinilar tasks. CMF - the ot4'ective is to maintain a risk-free sum lo enable reguLwr maintenance (such as replacement of kitchens and bathr(x)msl to be undertaken a5 they become due. ERF- this fund 15 a requirement under the constrtthion for the purpose of PToviding for theextraordinary repair, improvement or rebuilding of the almshouses belonging lo the charity. The M&G Charity Multi Asset 175 Accumulation shares are held as part of the ExtIao(din Repair Fund. The transfer represents the annual contribution to the fund. 14. ANALYSIS OF NEf AssEfs 8EfivEEN FUNDS Unrostricted Deslgnated Restricted Total Fund balances at 31 December 2024 are represented by.. Tangible assets Investments Current as5*<113bll((le$I Creditc(s' amounts falling due in more than one year 299,634 29,465 24,128 (4,8381 299,634 50.652 157.347 21,187 96,848 36,371 14,838} Total net assets Fund balances at 31 Deomber 2023 are represerlted by. Tangible assets Investrnents Current asselsJlliabililies1 Creditors.. amounts falling due in more than one year 303,767 28,809 14,299 303,767 48.423 119,131 15, 1841 19,614 81.462 23.370 15,1841 Total nel assels 15. RELATED PARTY TRANSACTIONS There were no di%cb5able related paty ITansactions during the YrI2023.. rKJne). 21
WALKER BARSTOW HOMES NOTES TO THE FINANCIAL STATEMEMrs YEAR ENDED 31 DECEMBER 2024 16. CONnNGENT UABILrrY Housing As50cialion grants from the Housing Corporation, lolalling £221,142. have been e[ed in the past by the Irusl towards approved schemes. Under certain circumstsnces these grants a repayable, prinarily folbwing the sale of the propety. bul usually restricted to ¥t proceets d the sale. Deregistering as a S¢co1 Landlord could also make the grortts repayabEe atthough this dKs1on would lie wlh the Icul authorty invofved due lo the restructuring of the Housing Corporati)n. The trust5 undetstand cases are deaEt with on their merts and no decision would be given prior to deregislering. The Irustss are currently expbring the possibilities of deregislration as a regtsterèd sctial housing provider. 22