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 2￿746 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 month period to align the reporting date to be the same 8$ the Corporate Trustee. The prewous year end for the charity was December 2023, and the Trustees of the Charty continued to operate the Almshouses for the first quarter of 2024 where the oversight and managèmènt of ChÉrily was transferred to Abbeyfield The Dales who became Corporate Trustee on ast April 2024. These accounts thérèforè represent 12 months oftrading under the Corporate Trustee, and 3 months underthe trustees who reslgned oft 1stApril 2024. There was a smooth transition of thè AlmshoLJSeS Charity to the Corporate Trustee with both parbes worf(ing collaboratively in the best interests of residents and thè Charity. Thè Corporate Trustee has continued the good work of the previous Trustees to promde a good semcè and aeeommodation to the charity's beneficiaries Ithe residents), and progressed the refurbishment and upgrade of the wonderful grade 2 listed building. Financial review The year end accounting date has been amended to correspond ￿th that of the Corporate Tru8t¢¢ and all of ils subsidiaries. During the 15 months to 31 March 2025 the Charity generated income of £131,694 112 months to 31 December 2023 - £95.9201. The 21 dwellings have been alrnosl consislenlly fully occupied during the 15 rnonths other than when a vacant flat has required refurt)ishTllent works, and there continues lo be a strong demand for the properties., there were no void properties an 31 March 2025. The Corporate Trustee continues to invest in the properties, and in particular a program of flat refurbishment when they become vacant, propety ventilalion, roofing ivorks. fjre safety an4J window replacements. Total expenditure for the t5 months to 31 March 2025 was £111,706112 months to 31 Decembèr 2023 - £86,844) with the slight increase due lo current ectsnomlc inflation, and 8ddilon81 works on the gardens and fire $8fety. The net incoming lesouT￿S for the 15-rllonth period was £29,724 {12 months to 31 De￿mber 2023- £19,206). The total reserves as of 31 March 2025 stands at £44,221 131st December 2023- £14.49n. FRANK CROSSLEY'S ALMSHOUSES TRUSTEES, REPORT (CONTINUED) FOR THE PERIOD ENDED 31 MARCH 2025 Reserves poll¢y and property refurbishment It is the policy of the charity not to drfFerentiate reseNes and apportion or eamiark reserves and funds for speafic purposes. The Chartty has a clear strategy of continuing to refurbish the property and flats to ensLJre they meet modern living requirements, and that the stTUCture and frttings continuè lo enhance a heaY(hy and sustainable place to live. The almshouses have listed building status and we havè bèen successful in gaining permission lo embark on a program of window repl$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 Ca￿led 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 Suc￿sSful 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 an1 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 pU￿0$e of each fund is induded in the notes lo the financial statement5. 1.5 Income Income ts rerxjgnised in the Statement of Financial Activities On￿ the charity has entitlement to thè fvnds, rt is probable that thè inix)mé wll be received and the amount can be measured reliably. FRANK CROSSLEY'S ALMSHOUSES NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE PERIOD ENDED 31 MARCH 2025 Accountlng policies (Continued) Cash dtsnations are recognised on receipt. Other donations are recognised oneÈ the charity has beem notified of the donation. unless pèrftsrman￿ conditions require deferral of the amount. Incorne tax recoverable in relation to donations received under GiftAid or deeds of covèn8nl is recognis¢d al the time of thé donation. Legaaes are recognised on rèceipt or otherwise rf the charity has been notified of an impending distribution. the amount is known, and retsipt IS 8xpe¢ted. If the amount is not known. the legacy is treatèd as a ntingent asset Donated Goods Damd Berry Itrusteel oGGasionally donated building rnaterials from his Sto￿$. 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 finan￿al 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$lrurnènls Issues. of FRS 102 to all of ils finanaal instruments. FinanrAal instruments are recognised in thè ch8rÈVs b818n¢e sheet when the charity be¢om&s party to the contTrctual provisions of ihe instrument. Financial assets and liabilities are offset, wllh the nel amounts presented in the finanaal statements, when there is a legally enforceable right to sel off the recognised amounts and there is an intention to s@￿e on a net basis or to realise the ass&t and sèttlè tha liability siwultaneously. Basie financialassets Basic financAal assets, which indude (Jeblors and Gash and bank balances, are initially measLJred at transaction price induding transaction (x)sts and are subsequently carried at amothsed cost using the effective interest method unless the arrangémènt eonslilules a financing transaction, where the transaction is measured at the present value of thè knture receipts discounted at a market rate of interest. Finanaal assets dassified as reff ivable within one year are not arnortised. Basic financial liabilities Basic financial liabilitiés, induding creditors and bank loans are initially recoonised at iransa¢lion price unless the a￿arngement constitutes a finanang transaction, whére thè debt instrumènt is measuryd at the present value of the future payments disGounted at a market rate of interest. Finaneixl liabilitiès dassrfied as payable within one year are not amortised. Debt instruments are subsequently Garried at amortised cost, Using the effective interest rate method. Trade creditors are obligations to pay for goods or sèrvicés that havè been acquired in the ordinary course of ope￿Il0n$ 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 re￿Is￿d 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 cu￿ent 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 FI￿￿re$ 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 De￿mber 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 re￿iVed 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-