FRANK CROSSLEY'S ALMSHOUSES ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31 MARCH 2025 Charity règistration numbor 222746
FRANK CROSSLEY'S ALMSHOUSES LEGAL AND ADMINISTRATIVE INFORMATION TNstee Abbeyfield the Dales Limited D8vid John Berry Jonathan Dixon Christinè Hanson Angela Seddon Gillian Putnam Robin Dixon Neil Dixon (Appointed 1 April 20241 {Resigned 1 April 20241 {Resigned 1 April 20241 IResigned 1 April 20241 (Rèsigned 1 April 20241 (Resigned 1 April 2024) IResigRed 1 April 20241 (Resigned 1 April 20241 Gharity number 2746 Principal address Abbeyffeld Grove House 12 Riddings Roa LS2S 9F Auditor Alison Vvhalley (FCA) AzelsAudit Services Ltd Carlton House Bradford 8D14NS BD14NS Unity Trust Bank Four Brindley P18¢e 4 Oozells Square Birmingham 812HB Bankèrs
FRANK CROSSLEY'S ALMSHOUSES CONTENTS Page Trusl¢es' report Statement of trustees, rèsponsibilities Independent audilorfs report Statement of financial activities Balancè sheet Statèment of cash flows Notes to the finanaal statements 10-20
FRANK CROSSLEY'S ALMSHOUSES
TRUSTEES. REPORT
FOR THE PERIOD ENDED 31 MARCH 2025
The Trustee presents its annual report and finan¢ial slaterllenls for the period èndad 31 March 202S.
ObjeGtives and activities
Sir Frances Crossley's Almshouses is a nol-for-profil registered charity, and it is also a registered social housing
landlord.
The tharity's objective is the provision of Almshouses accommodation for people of limlted finat)cial means in
twenty flats and one house. The Almshousès ehsrilable objectives 2S Stated at the Charity Cornmission state
'Inoome lo be applied for the promsion and maintenance of Almshouses and for the benefit of the residents of the
Almshouses who shall be poor persons, with preference for poor persons who arè members of a protestant
trinilarian church., When making allocati(>n
FRANK CROSSLEY'S ALMSHOUSES TRUSTEES, REPORT (CONTINUED) FOR THE PERIOD ENDED 31 MARCH 2025 Reserves poll¢y and property refurbishment It is the policy of the charity not to drfFerentiate reseNes and apportion or eamiark reserves and funds for speafic purposes. The Chartty has a clear strategy of continuing to refurbish the property and flats to ensLJre they meet modern living requirements, and that the stTUCture and frttings continuè lo enhance a heaY(hy and sustainable place to live. The almshouses have listed building status and we havè bèen successful in gaining permission lo embark on a program of window repl$cement and improbing ventilation in the years to come. The charity has limrted funds but is closely connected with the loc31 authority who supports the refurbishment program through the provision of short-tertn finance, and the Corporate Trustee has continued this Posltive relationship to maximise thè amount of work that is Caled out. The trustee considers this Considered approach to the woiks progRm and strong occupancy will ensure they can continue thè on-going propety and ffat enhancements and cc)nlinue tho tharily's actiwties and purpose. This approach and use of funding and reserves has continued throughout the finanual period. Rtsk Managem•nt The Corporate Trustee has assessed the major risks to which the charity is èxposed and is satisfied that systems are in place lo mitigate exposure to the major risks. strnctu. govemance and rnanagement The charity is controlled by ils goveming document, a deed of trust dated 25 Octobsr 1982, 2nd nStItuteS 8n unincorporated charty. The charity registration number is 222746 and thè principal officè is Grove House, 12 Riddings Road, Ilkley LS29 9BF. A Corporate Trustee has been appointed on the 1 sl April 2Q24 and all exsling trustees of the charity resigned following a SucsSful transfer.
FRANK CROSSLEY'S ALMSHOUSES TRUSTEES, REPORT {CONTINUED) FOR THE PERIOD ENDED 31 MARCH 2025 The members of the Trustee who serv¢d during the period and up to the date of signature of the financial statements were.. Abberyfield the Dales Limited Dawd John Bery Jonathan Dixon Ghritine Hanson Angela Seddon Gillian Putnam Robin Dixon Neil Dixon (appointed 1 April 20241 (resigned 1 April 20241 (resigned 1 April 2024} (resigned 1 April 20241 (resigned 1 April 20241 (resigned 1 April 20241 (resigned 1 April 20241 {resigned l April 20241 The Trustees of Abbeyfield The Dales Limitèd 8rè'. A L Hill (Chair) F J Johnson IResigned 31 May 20241 D Smith IDeputy Chairl M J Carter l R Hepworth IPri N Vthilham R G R3wling T P Carroll P Myers (Resigned 30 May 2025) P G Myers {Resigned 3Q Nlay 2025} J Connetly A Massingh8m IAppointed 31 May 2024 and resigned 18 November 20241 A Hunt {Appointed 31 May 20241 Dame J L Daniel {Appointed 27 September 20241 and resigned 30 July 2025) A Lockh8rt-MiTams IAppointed 25 July 20251 {R¢signed 31 Augsjsl 2024) The trustee eport wa$ approved y the Trustee. Abbeyfield thé Dales Limitsd Trustee 26 September 2025
FRANK CROSSLEY'S ALMSHOUSES STATEMENT OF TRUSTEES, RESPONSIBILITIES FOR THE PERIOD ENDED 31 MARCH 2025 The Trustee is responsible for preparing thé Trustees. Report and the finanaal statèmènts in accordanTr with applicablè law and United Kingdom Accounting Standards (Unrted Kngdom Generally Accepted Accounting Practicé). The law applicable to eharitiss in England and Wales requires tha Trustee to prepare financi81 statements for each financial year whith givè 8 true and fair view of the stsle of affairs of the charity and of the incoming resour$ 2nd application of resoltrces of the charity for that period. In preparing these financial statements, the Trustae is required to.. - selèct suitsble accounting polictes and then apply them consistentty,. observe the methods and prineiplès in the Gharf(ies SORP., make judgements an<J eslimal&s that are reasonable and prudent.. state whether applicable accoullting standards have been foll¢)wed. subjecl Io any material departures disdosed and expl8in&d in the finanaal statements-, and ppare the finanrial statements on th8 going concem basis unless tt 18 inappropriate lo presume that the charfty will continue in operation. The Trustee is responsible for keepin9 sufficient accounting records that di]05e with reasonable accuracy at any time the financial position of the ¢h8rity and enable tt lo ensure that the financial statements comply with the Charities Act 2011, the Charity IAccounts and Reports) Regulations 2008 and the pr0I4sions of the trust deed. It is also responsiblè for safeguarding the 8ssels of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregu13rities.
FRANK CROSSLEYS ALMSHOUSES INDEPENDENT AUDITOR'S REPORT TO THE TRUSTEE OF FRANK CROSSLEYS ALMSHOUSES Opinion We have audited thè fin8ncial statements of Frank Crossley's Almshouses Ilhe 'charity'l for the period ended 31 March 2025 whi¢h comprise the statement of financial actiwties, the balance sheet aftd notes to the financial statements, including significant accounting policw. The financial reporting framework that has been applied in their preparation is applic4ble law and United Kingdom Accounling Standards, induding Finan{81 Reporting Standard 102 The Fftn8ncial Reporting Standard appIable in the UK and Republic of Ireland (United Kingdom Generally Accèptèd Accounting Practice}. In our opinion, the financial st3tèmènls'. give a true and fair eW of the state of the Charity's affairs as at 31 Mareh 2025 and of rts incomin9 rosour and spplication of resources, for th¢ period then ended., have been properfy prepaTed in accordance Wih United Kingdom Generally Ac¢epled Accounting Practice., and have been prep8réd in accordance with the requirem¢nls of the Charities Act 2019. Basis for opinion We conducted Dur audit accordance with Intemational Stand8rds on Auditing Iuw IISAS IUKII and applicable 12w. Our rÈspDnsibilrties under those standards are further desGTib$d in the Auditoffs responsibililies for the èudrf of th6 finanGial ststgments section of our repts We are independent of the charity in accordan with thè éthieAI requiietnenls that are relevant to our audit of the financial ststements in the UK, induding the FRC'S Ethical Standard, and we have fulfilled our other ethi1 responsibilities in accordan with these requirements. We believe th8t the audit eden we have obtained is sffjicienl and appropriate to provide a basis for our opinion_ Conclusions ralating to going concern In audtting the financial statements, we have conduded thai the trustaes, use of the going cOnM basis of 3CeOLEnting in the preparasion of the financAal statements is appropriate. Based on the work we have perfomed, we have not identffjied any material uncertainties relating to events or cnnditions that, individually or collectivèly, may eAst significant doubt on the charity's ability to continue as a going cDncem for a period of al least e1ve months from when the ftnanaal statements are authorised for issue. Our responsibilities 8nd the responsibilities of the Trustee with respect to going concèm arè dèscribéd in the ralèvant sections of this report. Other infomiation The other inforrnalion comprises the information included in the annual report othèr than the finan¢t81 statements and our auditoffs report thereon. The Trustee is responsible for thè othèr information containéd within the annu81 report. Our opinion on the financial statements does not wver the other information and we do not express any form of assurance condusion thereon. Our responsibility is lo read the olhei infortllalion and, in doing so, consider whether the other information is materially ineonsislènl with the financlal slalements or our knowledge obtained in the course of the audit, or othenNise appears to be materially misst2téd. If we identy such material inconsistenues or apparent m8lerial misstatements, we are required to determine whether this gives rise to a material misslalement the finan¢i81 statements themselves. If, based on the worf( we have perfomed, wè eondude that there is a material misstslemenl of this other information, we are required to report that fact. We have nothing lo report in this regard. Matters on %thich we ar• r8quir8d to raport by axcèption We have nothing to report in respect of the followin9 matters in relation lo which the Charities IAco)unts and Reports) Regulations 2008 require us to report toi you rf, in our opinion.. the information given in the financial statements is inconsistÉnt in any matèrial rèspe¢t wrf(h the trustees, report,. or suffi¢ient a¢covnting records have not been kept,. or the financial statements are not in agreement with the accounting records-, or we have not racèived all thè inftsrmatiDn and explansliorts we requiré for our audit.
FRANK CROSSLEY'S ALMSHOUSES INDEPENDENT AUDITOR'S REPORT ICONTINUED) TO THE TRUSTEE OF FRANK CROSSLEY'S ALMSHOUSES Responslbilities of Trustee As explained more fully in the statèmènt of trustees, resptsnsibilities, the Trustee is rasponsible for the preparation of the financial statements and for being satisfied that they give a true and fair wew, and for such inlemal ¢onlrol as the Trustée determines is necessary to enable the preparation tsf financial statements that are free from material mi551atement, whether due to fraud or error. In preparing thè financial statements. the Trustee is responsiblè for assessing the charity's ability to wntinue as a going con¢em, disdosing, as applieable, rnatters rekted to 90ing Concem and using the going concem basis of accounting unless the Trustee either intend t¢) ase operations, or have no realistic alternative but to do so. Auditorfs responsibilities for the audit of the financial statements We have been appotnted as auditor under section 144 of the CharEties Act 2011 and rèport in accordance with the Act and relevant regulations made or having effect thereunder. Our objeGtive8 are to obtain reasonable assurance about whether the finanaal slatemeFrts a8 a whole are free from m8tÉrial rnisstatement, whether due lo fraud or error, and to issue an audito¢s report that includes our opinion. RÈasonable 3ssurance is a high level of assurance bLrt is not a guarantee that sn audrt ndUcted in accordan with ISAS IUK) will ahvays detect a rnalerial misstatement when it exists. Misstatèrllènts can arise from fraud or error and are Gonsidered material if, individua15y OF in the aggregate. they Gould reasonably be expected to influ@ne8 the economic decisions of usÈrs taken on the basis of these finanual ststemellts. A fvrtheT description of our responsibilities is availab]è on the Financial Reporting Council's website al.. https'.11 www.froorg.uklauditorsresponsibilities. This dèscription foms p8rt of our auditols pOrt. Extent to vthich thè audtt was considered capable of detecting irrègularitiès, ineluding fraud Irregularities, induding fraud, 8re instances of non-complian with &ws and regulations. Wè design procedures in line with our responsibilib"es, L)utlined above and oy) the Financiaj Reportlll9 Council's website, to detect material misstatements in respect of iffègularities, including fraud. We obtain and update our understanding of the entity. its acbvitiès, its control #nwronment. and likely fvture dèvelopments, induding in relation lo the legal and regulatory framework applicablÉ 8nd how the entity is complying with that framework. Based on this understanding, we identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error, design and perfoTm au(til procedures responsNe to those risks, and obtsin audit ewdence that is sufficient and appropriat6 to provide a basis for our opinion. This indudes consideration of the risk of acts by the entity that were contrary to Applit*ble law5 and regulations, including fraud. In response to the risk of irtegularilies and non-compliance wlh laws and regulations, induding fraud, wè dèsignèd prOdureS which induded- Enquiry of msnggement and those charged with g0Veman around actual and potential litigation and claims a5 well BS actual, suspected and alleged fraud., Reviewing minutes of meetings ofthose charged with govem0nce', Assessing the extent of compliance the laws and regu18tions considered lo have a direct material éffect on the financial staternents or the operations of the entty through enquiry and iDspection- Reviewing financial statement disdosures and testing to supporting documsntation to asse&s compliance with applicable law6 and regulations,. Psrforrning audit work ¢)ver the rysk of management bias and override of ¢ontrols, Induding testing of journal entriès and othèr adjustments for appropriateness. evaluating the business rationale of 3ignifi13nt transaetlons outside the nomal course of business and rewewing accounting estimates for indieators of potential bia5. Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularitlès, Including those leading to a material misstatement in the financial ststements or non-compliance with regulation. This risk increases the more that eomplian¢e with 8 law or regulation is removed from the events and transactions reflected in thè financial statemènts, 8$ wo will be less likely to become aware of InStanS of non-compliance. The risk of not detecting a material misst8tèmènl rÈsulting frorn fraud is higher than for one resutting from error, as fraud may involv¢ collusion, forgery, intenlionsl omissions, misrepresentations, or the override of internal control.
FRANK CROSSLEYS ALMSHOUSES INDEPENDENT AUDITOR'S REPORT {CONTINUED) TO THE TRUSTEE OF FRANK CROSSLEY'S ALMSHOUSES Othèr matters The financiÉl slalements for thé yéar ended 31 December 2023 wÉr& n()l audited. Our oplnion is not modified in respect of thi$ matter. Your attention is drawn to the fact that the charity has prepared finanaal statements in accordance with "Accounting and Reporting by Charitiès-. Statement of Recommended Practice applicable lo charities prèparing their accounts in zccordance with the Financial Reporting Stsndard applicable in the UK and Republic of Ireland IFRS 102)" las amttndedl in preferenGe lo the Accounting and Reporting by Charities.. StstÈment of Recommended PTactice issu an 1 April 2005 whi¢h is re[eed lo in the èxtant regulations bLrt has now been wthdrawn. This has beèn don8 in order for the finanu81 statéments to providè a true and fair view in accoidance with current Generalty ACptéd Accounting Practice. Use ofourreport This reptsrt is made solely to the charity's Trustee, as a body, in acGordance wrth part 4 of thè Charities (Accounts and Réport51 Regulations 2008. Our audit work has been und@rt8ken so that we might Stale lo the charity's Trustee those matters we are required to state to them in an auditor's rèport and br no other purpose. To the fullest extent pemiitted by law, we do ncst 8¢¢ept or assume responsibility to anyone other than thè ¢h8rity and the charEty's Trustee as a body, for our audrt work, for this report. or forthe opinions we have fom)èd. Alison Whalley Isenlor Ststutory Auditor) for and on behalf of Azets Audit Services Zg..Iq..Iis Chartered Ac¢ountsnts Statutory Auditor Cadton House Gratntnai School Street Bradford 8D14NS Azets Audit Servi8 is eligible for appointm¢nt as auditor tsf the charity by virtue of its eligibility for appointment as auditor of 8 tompany under section 1212 of the Companies Act 2006.
FRANK CROSSLEY'S ALMSHOUSES STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE PERIOD ENDED 31 MARCH 2025 unresth.cted Unrèstrictèd funds funds 15 months 12 months 31 March 31 2025 December 2023 Notss Income from: Donations and legacies Charitable 8etivitiès Investments 7,439 131,694 2,458 7.439 95,920 1.906 Total income 141,591 105,265 Ex enditure on: Charitable activities 111,706 86,844 Net gainslllosses) on investments 10 1161} 785 Net movement in funds 29,724 19,208 Fund balances at 1 January 2024 14,497 14,7091 Fund balan¢es at 31 f&larch 2025 44,221 14,497 The stslemenl of financial adivities includes all gains and108s8s r8cognised in the period. All income and expenditure derive from continuing activities.
FRANK CROSSLEY'S ALMSHOUSES BALANCE SHEET ASAT31 MARCH 2025 31 March 2025 31 December 2023 Notes Flxed assets Tangible assets Investments 12 13 113,332 23,873 103.444 43,462 137.2Q5 146,906 Current assets Debtors Cash 8t bank and in hand 14 11,Q96 22.127 10,173 8,843 33,223 19,016 Creditors: amounts falling due wtthin one year 16 132,0461 {39,1501 Net curreftt assetslfjiabilitiesl 1,177 {20,134) Total assets l&ss currerrt liabilrties 138.382 12é,772 Credito. amounts falling due after more than one year 17 194,161} {112,2751 Net assets 44,1 14,497 Incomè funds Unrestricted funds Designated fvnds General unr8Stricted funds 19 10,882 33.339 40.443 125,9461 44,221 14,497 44,221 14,497 The finan al statements were approved by the Trustee on 26 September 2025 Abbèyfièld the Dales Limited Trustse
FRANK CROSSLEY'S ALMSHOUSES NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31 MARCH 2025 Accounting policiès Charity information Frank Crossley's Almshouses is a Charity registeded on 27 April 1964 and governed by a deed of trust dgled 25 October 1982. 1.1 Reporting period The period of a¢counting has been extended by 3 months lo change the yèar end to 31 Marth 2025 in linè with the finanu81 year end ot the Corporate Trtjstee. 1.2 AG¢ounting convention The financial statements have been prepared in accordance with the Charitys Igoverning documenll. the Charities Act 2011, FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland" rFRS 102,1 and the Charities SORP "Accounting and Reporting by Charities= Statement of Recommended Piactice applicable to chsrilies preparing their accounts in accordanee with the Financial Reporting Standard applicable in the UK and Republic of Irelan¢ IFR8 1021" leffective 1 January 20191. The tharity is a Public genefrt Entity a8 defined by FRS 102. The finanual SteleentS have departed from the charities (Accounts and Reports) Regulations 2008 only to the extent required to prowde a tiue and fair view. This departure has involved following the Statèfflent of Rècommènded practi for ¢harities applying FRS 102 rather than the version of the Statement tsf Recomrllended Practice which is referred to in the Regulations but which has since been withdrawn. The financial statemènts aTr prepared in steding. which is the functional currency of thé charity. Monetary amounts in these financial statemenls are rounded to the nearest £. The fin8ncial statements have been prèpared under the historical cost ¢onvention, Imodified to indude the rev8luation of freehold pmperties and lo include investment properties artd rtain finanal instruments at fair valuel. The prinapal accounting polioes adopted are set out below. 1.3 Going concern At the time of apprciving the financial stslem&nts, the Trustee has a reasonable expe¢18tion that the tharity hag adequate resources to conlirtue in operational existence for the forèseeablè future. Thus the Trustee (x)nlinue to adopt the going eoncem basi$ of 8CCOUllting in preparing the financial stslemenls. 1.4 Charitable funds Unrestrided funds are available for use at the discreton of the Trustee in fvrtherance of their ¢haritable obje¢tivg5. Cyclical repairs and maintenan Sir Franus Crossley's Alrnhouses has established a regular piogramme of cyclical repairs and maintenance. Costs a charged lo the ststement of finanula act1w$ in thè year whieh they are incurred, an annijal reserye is made with pSe[rtS arnounts set aside for cydical maintenance to meet any Costs which are incuThed in excèss of btjdget. Restricted funds can only be used ft>1 particular restricted purposes within the objects of thè charity. Restictrions arise when specifiéd by ths donor 01 when fvnds are raised for particular rostrlGled purposes. Further explanation of the nalure and pU0$e of each fund is induded in the notes lo the financial statement5. 1.5 Income Income ts rerxjgnised in the Statement of Financial Activities On the charity has entitlement to thè fvnds, rt is probable that thè inix)mé wll be received and the amount can be measured reliably.
FRANK CROSSLEY'S ALMSHOUSES NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE PERIOD ENDED 31 MARCH 2025 Accountlng policies (Continued) Cash dtsnations are recognised on receipt. Other donations are recognised oneÈ the charity has beem notified of the donation. unless pèrftsrman conditions require deferral of the amount. Incorne tax recoverable in relation to donations received under GiftAid or deeds of covèn8nl is recognis¢d al the time of thé donation. Legaaes are recognised on rèceipt or otherwise rf the charity has been notified of an impending distribution. the amount is known, and retsipt IS 8xpe¢ted. If the amount is not known. the legacy is treatèd as a ntingent asset Donated Goods Damd Berry Itrusteel oGGasionally donated building rnaterials from his Sto$. He 118d also personally purchased equipment which was often used by thè Charity. Due to the difficuty in valuing such items, these 8mounts are not réflèetèd within the finanGial slalements. This ceased on 1 ApNI 2024. Housing Association grant The Housing Assoaalion grant IHAGI was received from the Housing Corp¢SF8tion to redsjce the ¢osts of developing the propertiès. it is shown as a deduction form the cost of Housing Properties on the Balance Sheet. The HAG will only become repay2ble under rtain arcumstances, these would primarily be the sale ofth¢ propety but the repayment would nomally be restricted to sales pro¢eeds. 1.6 Expendlture Expenditure are recognised as soon as there is a legal or eonstructive obligation committing the charity to that expenditure, It is probable that a transfer of on0[lC benefrts will be required in setUÈmenl and the amount of the obligation trAn be measured reliably. Expenditure is accounted for on an 8ecru3ls basis and has been calssifiEd under headings that aggregate all Cost related to the caategory. Where costs eAllnOt be directly attributed lo particular headings they havè bèèn allocated to activities on a basis wnsislenl with the use of rÈsou¢e8. 1.7 Tangible fixed assets Tangible fixed assets are initially measured at cost and subsequently measured al cost or valuation, net of depreciation and any impairmènt losses. Depreciation is recognised so as to wrrte off the cost or valuation of ass¢ls less their residual values over their useful lives on the following bases.. Freehold land and buildings Propety improvements Fixtures alld frttings straight line 50 years straight line 5 years straight linè 3, 5, 15. 20 and 25 years Ttte gain or loss arising on the di8posal of an asset is determined as the diffèrence bètwÈert thè sale proceeds and the carrying value of the assat, and is rèeognised in the statement of financial actiwties. The Sir Franas Crossley's Almshouses were donated to the eharity in approximately 1860 by the Crossley farnily. There is no record of the original cost and no value is 3ttribul8d herelo, as the trustees consider the value at that dale to be negligible. Thé Housing Properties cost value in the accounts relates lo improvemerTts carried out Sin 1984. these were funded by a Housing Corporation Grant and also a mortgale loan from the Housing Corporation. The mortgage loan is securèd by a chargé on the housing land and buildings, it is now fijlly repald and the legal charge on the propèty rÈmovÈd. As the properties are maintained in a state of repair such that the aslim*ett rssidual value is not less than the improveTllenl cost or carrying amount, the annual chargè for depreualion is nil. All PToperknes are held for the purposes of letting.
FRANK CROSSLEY'S ALMSHOUSES NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE PERJOD ENDED 31 MARCH 2025 Accounting poliGies Icontinuedl 1.8 Fixed asset investments Fixed asset invéstments comprises assets held by the d)8rity which are not expe¢ted lo be converted into cash in the short term. Fixed asset Investments are valued at market value, with unrealised and realiséd gains and losses being passed through the statement of finanal activf(ies. 1.9 Impairment of fixed assets Al each reporting end date. the charity rewews thè 12rying amounts of its tangible assets to detem)ine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estim*¢d in order to determine the èxtènt of the irnpairment loss lif any). 1.10 Cash and cash equivalènts Cash and cash equivalents inrlude cash in hand, deposits held at C211 wth banks, other short-tem Ilquid investments with original maturtties of three months or less, ond bank overdrafts. Bank overdrafts are shown within borrowings in currÉnl liabilities. 1.11 Flnan¢ial Instruments The charity has elected to apply the provisions of Sedion 11 'Basi¢ Financial Instruments, and Section 12 'Othèr Finanaal In$lrurnènls Issues. of FRS 102 to all of ils finanaal instruments. FinanrAal instruments are recognised in thè ch8rÈVs b818n¢e sheet when the charity be¢om&s party to the contTrctual provisions of ihe instrument. Financial assets and liabilities are offset, wllh the nel amounts presented in the finanaal statements, when there is a legally enforceable right to sel off the recognised amounts and there is an intention to s@e on a net basis or to realise the ass&t and sèttlè tha liability siwultaneously. Basie financialassets Basic financAal assets, which indude (Jeblors and Gash and bank balances, are initially measLJred at transaction price induding transaction (x)sts and are subsequently carried at amothsed cost using the effective interest method unless the arrangémènt eonslilules a financing transaction, where the transaction is measured at the present value of thè knture receipts discounted at a market rate of interest. Finanaal assets dassified as reff ivable within one year are not arnortised. Basic financial liabilities Basic financial liabilitiés, induding creditors and bank loans are initially recoonised at iransa¢lion price unless the aarngement constitutes a finanang transaction, whére thè debt instrumènt is measuryd at the present value of the future payments disGounted at a market rate of interest. Finaneixl liabilitiès dassrfied as payable within one year are not amortised. Debt instruments are subsequently Garried at amortised cost, Using the effective interest rate method. Trade creditors are obligations to pay for goods or sèrvicés that havè been acquired in the ordinary course of opeIl0n$ from suppliers. Amounts payable are classified as current liabiif£ies if payment is due wfihin one year or les5. If nol, they are presented as non-currenl liabilities. Trade creditors are recognised initially at transa¢tion price and subsequently measured at amortised Cost using the effective interest method. Derecognition of financial liabilities Financial liabilities are derecognised when th& charity's contractual obligalitsns 8xpire or are discharged or cancelled. 1.12 Taxation The charity is exempt fomi tax on ils d)8ritable aetivibes. 12-
FRANK CROSSLEY'S ALMSHOUSES NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE PERIOD ENDED 31 MARCH 2025 Critical accountlng estimates and judgements In the application of the charEty$ 3CCOUnting policies. the Trustèè is required to make judgements, estimates and assumptions about the carrying amount of assets and liabilittes that are not readily apparent from other sources_ The estimates and associated assumptions are based on historical experience and other factors that are Considered to be Elevant. Actual results May drfter from these estimates. The estimates and underlying assumptions are reviewed on an ongoing basis. Rewsions lo accounting estimates are recognised in the period in which the estimate is reIsd where the revision affects only that period, or in the period of the revision and future periods where the remsion affects both current and future periods. Donations and legacies Unrèstricted Unwtiicted funds funds 31 March 31 2025 December 2023 Housing Corporation grant release 7,439 7,439 Charitable activities CharKtable Charitable Income Income 31 March 31 2025 D8cember 2023 Maintenance contributions from resid8nts 131,694 95,920 Investments Unrestrictsd Unrestricted funds funds 31 March 31 2025 December 2023 Income from listed invesbnents Interest receNable 2,046 412 1,857 49 2,458 1,906 13-
FRANK CROSSLEY'S ALMSHOUSES NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE PERIOD ENDED 31 MARCH 2025 Charitable activitiès Charitable Charitsble Expènditure Expenditure 31 March 31 2025 December 2023 Depreciation and Impalm&nt Insurance Rates. light and heat Sundriès Repairs an¢J Tnaintenance Gardening Support and administration 12,472 6,076 12,380 618 31,950 8,035 27,391 8,572 4.466 8,485 805 45,931 1.601 18,194 96,922 85,854 Share of govem8n¢e costs {see note 14,784 99C) 117,7( 86,844 Support costs Support Govemance costs costs 31 March 31 2025 D¢Gember 2023 Audit fees Legal and professional Independent examination 4.200 10,584 4,200 10,584 990 14,784 14,784 990 An81ysed between CharilaFile aGtivilie5 14,784 14,784 990 Govemance Costs includes paymerts to the auditors of £4.200 131 December 2023- £nill for audtt fees, Independent exawinalion £nil12023 £9901. Trustee None of the Trustees lor any persons connected with them) Feceived any remuneration or benefits from the charity during the period. There were no Trustees, expenses paid for the prior year. During the year trustee indemnity insurance has been purchased at a cost of £nil {2023 £5101. The Corporate Trustee has fvll indemnity insurance and does not apportion thè pfftmium pa5d to this chartty, instèad it indudes this cost as part ot the support and administration. 14-
FRANK CROSSLEYS ALMSHOUSES NOTES TO THE FINANCIAL STATEMENTS {CONTINUED) FOR THE PERIOD ENDED 31 MARCH 2025 Employeès Therè were no employees in the cuent or prior pèriod. 10 Net gainslllossesl on investmènts Unrestricted Unrestrictèd funds funds 31 March 31 2025 December 2023 Revaluation of investments 11611 785 11 Taxatlon The charity is èxèmpt from tax on income and gains tslling within section 505 of the Taxes Act 1988 or section 252 of the T8xationof Chargeable Gains Act ig92 lo the extent that these are applied to its eharttable objects. 12 Tangible fixed assets Freeholtl land Prop8rty FIre$ arHI and buildings impro¥erTrerrtS fittings Total Cost At 1 January 2024 Additions 384,9Q1 9,513 17,825 22,361 412.239 22.361 At 31 March 2025 384,901 9,513 40,186 434.800 Depraciation and impairment At 1 Janu3ry 2024 Depreciation charged in the period 307,921 7,698 874 2,872 308.795 12.473 1,903 At S1 Mareh 2025 315,619 1,903 3,746 321.268 Carrying amount Al 31 March 2025 69,282 7,610 36.440 113,332 At 31 Dember 2023 76,980 9,513 16,951 102,444 15
FRANK CROSSLEY'S ALMSHOUSES NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE PERIOD ENDED 31 MARCH 2025 12 Tangible fixed assets (Continued) 31 March 2025 31 Decembèr 2023 Original ctsst Housing Corporation grant reiVed 384,901 1371,946} 384,901 {371,9461 12,955 12,955 The Sir Franas Crosslèy's Almhouses were donated lo the charity in approximatèly 1860 by the Crossley lamily. There is no record of the original cost and no value is attributed th¢reto as the trustees consider the value at that date lo be negl[ble. The originsl cost relates lo capital improvernenls carried out since 1984, these improvements were funded by a Housing Corparstion Grant of £371,946 and a residual mortgage loan of £t2,955, whi¢h was repaid with interest calculated al 10.25°A per annum over thirty years from 1 March 1984 and 1 Mxrch 1986 respectively. 16-
FRANK CROSSLEY'S ALMSHOUSES NOTES TO THE FINANCIAL STATEMENTS {CONTINUED) FOR THE PERIOD ENDED 31 MARCH 2025 13 Fixèd ass8t investments Listed investsnents Cost or valuation At 1 January 2024 Additions Valuation changes Disposals 43.462 572 11611 120,0001 At 31 March 2025 23,873 Carying amount Al 31 March 2025 23,873 Al 37 December 2023 43,462 17-
FRANK CROSSLEYS ALMSHOUSES NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE PERIOD ENDED 31 MARCH 2025 14 Debtors 31 March 2025 31 Decernber 2023 Amounts falling due within one year: Trade debtors Other debtors Prepayments and accrued incom8 1,470 5,769 3,857 6,441 3,732 11,096 10,173 15 Loans and ovèrdrafts 31 March 2025 31 December 2023 Bank loans 45,325 62,327 Payable wthin one year Payable after ona yèar 10,675 34,650 17,Ci12 45,325 16 CredÈtors: amounts falling due within onè yg?r 31 March 2025 31 December 2023 Notes Bank loans Govemmènt grants Trade uedttors Other creditors A(u&S and deferted income 15 18 10,675 7,439 2,572 1,890 9,470 17.002 7,439 4,875 9,834 32,046 39.150 17 Creditors: amounts falling due after more than one year 31 March 2025 31 December 2023 Note5 Bank loans Govemment grants 15 18 34.650 59,511 45,325 66,950 94,161 112,275 18
FRANK CROSSLEYS ALMSHOUSES NOTES TO THE FINANCIAL STATEMENTS (CONTINUED> FOR THE PERIOD ENDED 31 MARCH 2025 18 Dèfèrred income Deferred income is included in the financial ststem¢nts as follows.. 31 Marth 2025 31 Décember 2023 Deferrèd in¢ome is indud¢d within.. Current liabilities Non-current liabilf(ies 7,439 59,511 7,439 66.950 66.950 74,389 Movements in the period.. Deferred income al 1 January 2024 Released from prèvious periods 74,389 17.4391 81,828 17,4391 Deferred ineome 8t 31 March 2025 8S,950 74,389 19
FRANK CROSSLEY'S ALMSHOUSES NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE PERIOD ENDED 31 MARCH 2025 19 Designated funds The income funds of thè charity include the following designatÉd funds which have been set aside out of unrestricted funds by the trustees for spectfic purposes.. Balan¢6 1 January 2023 Tra#sf¢r5 alance at 1 January 2024 Trartsfers 8al8ncÈ at 31 March 2025 G H Haley fund Reserve fvnd Revaluation reserve 350 9,050 30.268 350 S,050 31.043 13501 19,0501 {20,1611 775 10,882 39,668 775 40,443 129.5611 10,882 20 Relat party transactions During the period the charity purGhased building services amounting lo £nil12023 £32,821) from David Bèrry (rrusteel. These services were prowded al a substantially discounded rate, in particular, any WQTk is perfomed with full knowledge of all the trustees who carry out inspèctions and have relevant knowledge and experience to know hat thé work is of a high standard. At the period end the amount owèd to David Bstry was £nil12023 £4,012). During the period Abbeyfield the Dales Limitèd rfmstÈè) Charged a mangement fee of £15,00012023 - £nill. The Cornpony also collecled Maintena and semttè charge payments of £106,41412023 - £nill on behalf of thè Almshouse fro>m which ffL paid related costs of £100,64412023- £nitl. At the period end the arnount owed by Abbeyfield the Dales Limited to the Almshouse was £5,76912023- £nill -20-