comrniggion JANE GIBSON ALMSHOUSES Charity Rtgistr#tlOD Number 223223 Housing Corporation ReEi$t¢r Nujnber A11567 UNAUDITED FINANCJAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024
JANE GIBSON ALMSHOUSES LEGAL AND ADMINISTRATIVE DETAILS YEAR ENDED 31 DECEMBER 2024 Trustees Mrs M Delevingne (Patron) Mr A. Patchett Mr G. M¢Comiack Miss C Winfield Revd Can¢)n Clare Ma¢Laren (Appointed May 2024) Mr5 G. Walker (Chair) Secret4ry Mr A. Patchett Treasurer Miss C Winfield Addre55 313 High Stsret West Sunderland SRI 3ET Inveslmeol Manager Lycetis Financial Services Limited Milburn House Dean Stre¢t Newc&%tle Upon Tyne NEI IPP Bankers Barclays Bank plc 53 Fawceit Street Sunderland SRI IRS Independent Examiner Mr P. N. Newbold BFP, FCA Torger5ens Chartered Accountants East Suile Ground Floor Avalon House St Catherine's Court Sunderland SR5 3XJ Charity Regislration Nwnber 223223 Housing Corporation Register Number A0567
JANE GIBSON ALMSHOUSES REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2024 Reference and AdmiDlStTation The trustees present th¢ Charity's arUal rewrt and financial statements for the year ended 31 Dewnber 2024. The legal and administrative details are set out on pag¢ l. stru¢tre, Governance and Managemen¢ The charity was established under the provisions of the Charities Act 2011. The charity is a tTU$t governed by a Charity Commi&sion Scheme dated 31 August 1972. Tr#slees The body of ttustees consists of two ex-officio tru5tee5 and no 1¢55 than three cij-optative trustees. The exaofficio trustees comprise th¢ PrOn of th¢ charity and the Provost of Sunderland Minster. The co-optative trustees are P¢TSOnS who through residence, occupation or employment have spla) knowledge whtch will be of benefit to the Charity. Ex-officio trustees hold their position by virtue of their offic£ and will always trustees of the charity. Co-oplative INstees are apinted for a tem of five years by a Te501ution of the thistees. The co-optstive tsustees currently boast the following expertise; care assessm¢nL l¢gal matters, architecL chartered accountant and a (omier Clerk to the Trustees. l¥menl of Trusltts, Responslbullles The Charities Act aJ]d Registered Social Housing Legislation requires th¢ tru$t¢¢s lo prepare fmancial statements for each financial year which give a trLEe and fair view of th¢ state of the affairs of the charity and of the sutplus or deffficit for thai peri(Ml. In pr¢paTiJ]g these financial statement& the tnteeS are requir¢d to.. s¢lect Suitable accounting pM)licies and then aM)ly theln con515t¢ntly,' make judgements and estimates thal are reasonable and prudeni. Ppare th¢ r]nan¢ial statements on the going concern basis unless it is inappropriate to presume th the charity will continue in business. The trustees are responsible for kceping proper accounting records which dlsclose with reonable accurdcy at any tiffte the fmancial position of the charity and to enable i( to ensure that the fmancial statements cornply with the Charities Act 2011, Sthedule I to the Housing and Regenerntion Act 2008 and the Accounting Direction for Private Registered Providers of So¢ial Hwsing 2022. They are also responsible for safeguarding the assets of the charity and hence for toking reasonable steps for the preverttion and detection of frdud and oth¢r irregularities. Code ofgovernance The InteeS have adopted the provision5 of the r¢vi5ed Code of Gov¢rnanc¢, i&5u¢d by the National Housing Federdtion in 2020. Excellen¢¢ in Governance.. Code for members and go(NJ praciice. As a charity, they have also adopted The Charity Commission Governance Code. To help monitor how the charity is perfomiing against this guidanc¢ on "goveman¢e, a¢¢ountability and probity" the ttustees carried out a review of policies and procedures The resuli of the review shows that, insofar a8 the Code applies to slnall gist¢d social landlords, th¢ Cod¢ is being followeil. During 2024. the trustees have worked to update existing poli¢i¢5 to reflect best practice and will continu¢ their work it) thi5 area in 2025. Risk The Trustees of the charity regularly review the major governance, operatiODal and fmancial risks which the charity fac part of its annual budget pnKess and confirni that systems have been established to mitigate these risks. Th¢ trusle¢5 have a risk management strdtegy in place which comprises.. an annual review of the strategic risks the charity may face the establishment o15ySt¢ms and pedureS lo mitigate those risks identifked the implementstion of procedures designed to minimise any potential impact on the charity should those ri5ks'- tnaterialise. risk regi51er 15 di5C11S5ed at quarterly board meetings The trustees consider that a major risk is one which, if it were to materialise. would have a signilicani adverse effeth on the charity's ability to function and athieve its charitable purpose& in particular that of providin8 almshouse
JANE GIBSON ALMSHOUSES REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2024 accommodation for the Charity's beneficiarieslthe residents. The trustees b¢lieve that they key risks facing the Charity, along with appropriate mitigatmg actions, are.. Safeguarding concern5 involving residents Safeguarding policy and regular safeguarding reports to board All trnstees and volunteers have rec¢ived appropriate training and ore kept up to dat¢ with recent developments and newlupdated guidance. Health, safety and environment Colnpliance with law and regulation. • Training for trnstee5 and £omplianc¢ officer. support and infom3tion for residents . Regular monitoring and reporting PTocedures Lack of budgetdry control and long terni decline in endowment assets Annual budgets Itnked to QI report and objectiv¢s Regular management accounts . Procedures io review and action budgetlcash flow varian¢es and monitor and control costs. • R¢gular reviews of reserves and investments The Trnstees also manage the general fman¢ial risks arising by ensuring that.. . Pwdent budgets have been set for the next fmancial year The charity tnaintains a prudent, low-¢osl operating base . Regular management accounts are provided. showing the perforniance against budget Conting¢n¢y plans are in place should iTJcome levels appear unlikely to reach tsrgets Reserves policies have been adopted which provide an appropria(e amount of uncomn]itted reserves which will enable the clwity io me¢t its liabilities. Objectives Aetlvltley Objeets f*he Chwity The Charity. which was founded in 1725, aims to provide low ¢osl, low mainten2n¢¢ aco)mmodation for elderly t¢nants who can demonstrate their need for same. Public Benefit Statemettt The trustees have complied with the duty in section 17 of the Charities Act 2011 to have due regard to publi¢ benefit guidance published by the Commission during the year. Aehlevements Perfoman¢e Ai 31 December 2024 ihere were 2 houses and 6 fl&ts occupi¢d by elderly tenants. Further detsils on activiti¢s during the year are produced in section 6, below. Financial Rtview The financial results for ihe year are shown in the attach¢d financial stst¢ments' the defi¢Ét for the year, after the transfers of £1,000 to the cyclical maintenance reserve. £520 to the exttxordinary repair fund and £17,879 to the genernl apital account was £10,507. The trustees recommend no further designation of the res¢rv¢s. Grants and donations rec¢ived in the year 2mountu)g to £1 1,975. prior y¢ar £130,438, contributing to ihe ovetall decrease in income of £115.069. The trust¢es have continu¢d to mainthin tighi control over expenditure, with the result that the charity has been able to generaie sufficieni funds to meet the annual transfer to designai¢d r¢serves. Restoration work of £29,854 was undertaken in the CUTr¢nt year. With the exception of this. charitsble expendiiure remained in line with the prior year. There were no quinquennial works undertaken during the year. Volmefor Momey Siqndard The charity has applied the Value for Money Standard for Registered Providers of Social Housing 2018, which came into effect IM April 2018. Out of the seven Value for Money Metric5, Reinvestment and New supply delivered do not apply to the charity as they do not acquire, dev¢lop or dispose of so¢ial housing properties. Gearing also doe5 not apply to the charity as all residual loans are paid off. Interest cov¢r Olo cannot be applied as th¢ charity hus interest or finance costs.
JANE GIBSON ALMSHOUSES REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2024 2024 2023 He¢7dl¥MesochTlhouslnE costperunll Cost per wilt has increased by 40/0 due to an in¢rew in day to day rqTrairs of150/o. 2024 2023 Operallngmargth % 2024 2022 Relurn CopilalEryloyed (ROCE) Resenrs Pollcy Extraordinary Repair Fumd (ERFI This designated fund. which we are required io maintain under Charity Commi$5ion $e4led ordeT. is to be used for future major expenditure. The annual transfers ar¢ met from the Income and Expenditure Account. Cyclical Maintenance Fund (CMF) This designat¢d fund, which we ar¢ required to mainlain under Charity Commission sealed order from transfers made from ihe Income and Expenditure Accounl will be used io meet maintenartce costs occurrtng at regular intervals e.g. refurbishtng kitcbens and bathrooms, interior and exterior redecoration and the cost of professional fees such as for QltlnqucnIal Inspection& General Capital Acc(Junt We also maintain a general capital accollni whieh reflects our investsnenl in the fabric of the almshouse properties. Undesignated Reserves The und¢5ignated reserves of the charity amount to £185,537 (2023.. £186213). OveT thc years in which the charity has operated, it has managed to build up reserves which have been inves(ed in a rtfolIO of st(Kk5 and Shares. The chaTity ha5 become reliant upon the dividend and interest income which the wrtfolio genernte5' Without it the charity would not be able to support the levels of expendimre thkt it does. As a result, th¢ charity looks on these inyesttnents as quasi- endowtnent. The tNstees' policy in relation io reserves is to ensure that, in the event of a significant r¢duction in inwm¢, they could at least maintain the alm5hous¢ properties to an acceplable level. Inveslmenl Polty dndPerfornwAees The trustees take the view, that the fmancial objective of its investments is to generate a sustainable return to help deliver the objects of the ctwity. The trustees are requtred to pay annual sums of not less than £520 to the official custodian for charrties to be applied to the credit of an account entitled Extraordinary Repairs Fund. The official custodian invests these yearly sums. together with in¢ome a¢cruing. in National Almshouses Association Common Inve5ttnent Fund accumulation units. This apart, the trusiees have the power to invest in such rnaTJner as they see fit. Funds are now vested with Lycetts Financial Serrices Limited ("Lycetts') who are expecied to manage a portfolio of investments in accordance with ihe charity's inv¢stmenl p)licy. This wlicy is to adopt a medium risk Strate based on m&ximising the retums on the investhjents. whilst obtsining reasonable wwth in the market valu¢ of the portfolio. This policy may need io be r¢view¢d following the formulation of reserves p(Trlicy (see above). During the year the value of the charity's InVt[entS. after net diswsa15 of £502, increased by £19,543.
JANE GIBSON ALMSHOUSES REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2024 Examiner The ¢xaminer. Mr P. N. N¢wbold of Torgersens, will be proposed for re-4)pointment at the Annual General Meeting. This report was approved by the Irusttts on ..ao...ti... a*.,... Signed on behalf olthe Board of Tn3Stees'. Mr5 G. Walkcr Chair Date.. aÉ .¥. a<.
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF JANE GIBSON ALMSHOUSES (A REGISTERED SOCIAL LANDLORD UIYDER SECTION 3 OF THE HOUSING ACT 1996) I report to the trustees on my examination of th¢ accounts of Jane Gibson Ahnshouses (the Charity) for the year ended 31 December 2024. Responsibilities and h5js of report As the charity trustees of the Charity you are responsible the preparation of th¢ a¢¢ounls in accordance with the requir¢m¢nis of the Charities Act 2011 {'the Aci,). I report in r¢sp¢¢t of my ¢Mmination of the Charity's a¢¢ounts carried oul under section 145 of the 2011 A¢t and in canying out my examination I have followed all the applicable Direction5 given by the Charity CommAssioTh under section 14515)(b) of the Act. Independent ex*mitier'5 Stat¢m¢nt I have completed my examination. I cimfjrn) that no material mattets hav¢ ¢om¢ to my attention in comiection with the examination giving me cause to believe that in any material respect.. a¢¢ouiiting re£ords were noi kept in respect of the Charity as required by section 130 of the Act. or the accounts do not accord with those record5- or the accounts do not comply with the applicable rwuirements concerning the form and content of accounts set out in the Charities {Accouni% and k¢ports) Regulations 2008 other than any requirement that the accounts give a 'truc and fair view which is not a matter consider¢d as part oran independent examination. I have no concerns and have coffte ¥r055 no other matters in connection with the examination to which &Trntion should be drawn in this report in order to enable aproper understanding of the accounts to be reached. Mr P. N. Newbold BFP, FCA Tor8ersen5 Chartered A¢¢ountants East Suite Ground Floor Avalon Hou5¢ St Catherine'5 Cowt Sunderland SR3 3XJ Date: zQ,l.
Es 2024 Unrestriettd FuNd5 General Capitsl Account Total Funds 2024 Total Fvrtd$ 2023 Rewaluatio Reserve Revenu¢ Reserve De5ignxted Reserves 1.738 21291 (1,588) 1,738 21,291 (1.588) 1,748 20,280 11.975 11,975 10,239 2,204 4,339 130.438 8,748 1.972 2,081 3,406 6.833 2,204 4.339 18,518 24.847 6,833 50,198 165,267 (2,242) (8,593) (2,242) (2,039) (8,593) (7,503) {29,854) (148.011) (29,854) (744) (671) (744) (671) (936) (1.3(Y)} (1,967) (1,907) (11,555) (1,873) (7,637) {11.555) {41,409) (14,217) (55,626) {169.301)
I024 (continued) Unrestricted Funds General Capi¢al AccouTht Total FuDd$ 2024 Total Fund5 2023 Revaluatio Reserve Revenue Rtterve De$ign#ted Reserves (1,016) (178) (1,016) (178) (196) (2451 (625) (2,814) (797) (3l4) (2,814) (797) (314) (2,454) (992) (5.119) (5,119) (4,512) (41,409) (19,336) (60.745) (173.813) (22,891) 5.511 6,833 (10.547) (8,546) 17,879 (19,399) 1,520 (5,012) (13,888) ,353 (10,547) (8,546) 17.879 17,879 17.573 3,381 3,381 9,831 637 9,725 9,831 9,831 12,867 (10,507) 8,353 20,544 19, 93,533 51,870 92,680 154,829 392,912 373,523 103 16 41 Th¢ notes on pages 12 to 17 fortn part of these fmancial stai¢ments
JANE GIBSON ALMSHOUSES STATEMENT OF COMPREHENSIVE INCOME FOR THE YEAR ENDED 31 DECEMBER 2024 Note5 2024 2023 TURNOVER 26246 24,333 OPERATING COSTS (30,891) (25,802) Op¢rnting deficit (4,645} (1,469) Disposal of investments io 3.381 637 Interest r¢¢eivable and other income 11,977 10,496 SURPLUS ON ORDINARY AcfiviTIES BEFORE TAXATION 10,713 9.664 Tax on surplus on ordinary a1vIlle$ SURPLUS FOR THE YEAR All operations are continuing. The statement of comprehensive inc¢)me contains all surpluses and deficits recognised in the current and pre¢¢ding year. Th¢ not¢s on pgges 12 to 17 fom) part of these finan¢ial stafrments.
JANE GIBSON ALMSHOUSES STATEMENT OF OTHER COMPREHENSIVE INCOME FOR THE YEAR ENDED 31 DECEMBER 2024 2024 2023 Surplu5 for the year 10,713 9,664 Unrealised surplu51(deficit) on investment (note 10) Tot*1 svrplusl{defitit) recOglsed sin¢¢ last annual report Note of Historieal Cost Surpluses and Deficits 9.831 9,726 2024 2023 Surplus on ordinary activities before taxation 10,713 9,664 Realiwion of inveskneni reva]uatii)n goin{defiCit} in prioryears Historical cost surplus on ordinary activities before alld aftertatiOll The no¢e5 on pages 12 to 17 forni part of these financial statem¢nt$ 10
JANE GIBSON ALMSHOUSES STATEMEiYf OF FINANCIAL POSITION AT 31 DECEMBER 2024 Notes 2024 2023 TANGIBLE FIXED ASSETS Housing Propenies- cost less depreciatiLTrn Site Improvements- Cost le&$ depreciation 118,321 254,358 103,058 251,322 Investments loa 49,106 48,020 421785 CURRENT ASSETS Investments Debtors Cash ar bank - Current Account - Deposit Accounts lob 254,075 3.889 11,406 235,618 3,453 24,547 304,280 296,828 CREDITORS: Amounts fllittg due witbin one year 12 11,283 10.073 NET CURRENT ASSETS 292,997 286.755 TOTAL ASSETS LESS CURRENT LIABILITIES 7J£L82 CREDITORS: Amounts fAllingdu¢ after more thn one yegr 13 301,326 296,243 CAPITAL AND RESERVES Designated reserv¢s Revaluation reserve Revenue reserve General Capital account 15 16 17 18 163,182 103,364 82,173 64,737 154.829 93,533 92,680 51,870 413,456 392.912 These financial stalernenls were apFToved by the board of tru¢es and authorised for issue on .a.F"..>..aknJ. d are signed on behalf of the board by-. The note5 on pages 12 to 17 forni part of these fitwicial statement$.
JANE GIBSON ALMSHOUSES NOTES TO THE FINANCIAL STATEMENrs FOR THE YEAR ENDED 31 DECEMBER 2024 GENERAL INFORMATION Jane Gibson Atmthouses is a charity domiciled in England and Wales. Charity regi51ration number 223223 and Housing corpolon r¢gister number A0567. The adth¢ss of the registered office is 313 High Street Wes¢ Sunderland SRI 3ET. STATEMENT OF COMPLIANCE These fmancial Stat¢ents have been pr¢pare4J under the historical cost convention and in accordance with the provisions of FRS 102, the Housing and Regener4tion Act 2008 and Charities Act 2011. ACCOUNTINC POLICIES (8) Basis of Accounting The fancial statements are prepared in Ae¢wdance with UK Generally Accepted Accounting Practice (UK GAAP) including Finan¢ial RertIng Standard 102 {FRS 102) and the Housing SORP 2018.. Stat¢ment of Recomtn¢nded Practice for Registered Social Housing Providers and comply with the Accounting Direction for Pnvate Regi5t¢red Providers olsocial Houssng 2022. The financial slaiements are presented in Sterling (£), which is the functional cenCY of the charity. Monetary amounts in these ftt)ancial statements are rounded to the ¢85t pound. Turnover Turnover shown ¢omprises of rentsl CoMe receivable in the year and grAnts receivabl¢ in the year, net of void properties. Housing Properti Housing propenies are properties held for the provision of social housing or io otherwise provide so¢ial benefit. Housing properties are stat¢d a¢ cost. Depreciation is charged $0 as to write down the cost of freehold housing properties, thher than freehold land. to their estimated residual valu¢ on a straight line basis over their expected useful ¢conomic lives At the following annual rnies.. Housing Prop¢rti¢s: Structure 10/0 straight line Roofing 2.50/0 straight line Kitchens SO/0 Sfdight lÈn¢ Radiators 5Vo straight line External Doors - 50/0 strdight line WiDdow5 2.5f/*• Straight line Bathrooms SQ/D straight line Boilers 6.660/0 Straight lin¢ Fires 6.66•/0 straight line An element of the costs of the properties 15 the constituent fitments which are depreciated over a periiKI ranging from 15 to 40 years from the date of installation. Subsequent rosts incurred in r¢placing these assets are capitalised and depreciated over th¢ length of period benefiting from these replacements. All other maintenan¢¢ costs are charged io the income stst¢mcnt as incurred. Sitt Improvements Depreciatiorts is charged so as to write down the ¢051 of the site improvement works to their ¢stimated residual valu¢ on a straight line basis over their expected economic lives at the following annual rate.. Boundary wall and fences- lQ/o straight line Impairment At each reporting date, g(K)dwill and other fixed assets, including tangibl¢ fixed assets and investments but excluding inve51m¢nt prortIeS, are y5sessed to determin¢ whether there is an indication that the anying amount of an assd may be MO than its rewverable amount and that the asset should be impaired. If there is an indication of possible itnpairnienL the recoverable amiwnt of an asset, which is th¢ higher of its valu¢ in use and its net realisable value, is estimated and Compared wtth it's canying amount. If the recoverable amount is Igwer, the carryin¥ amount of the &5set is written down to its esiimated recoyerable alnounl and an impairnJ¢nt10s5 is recolSed in profit and loss. Socigl Houslng Grant (S.H.C.) Where developments have been fmanced wholly or partly by S.H.G., Ihe Cost of those developmenls are shown as deferred income, separate to the Housing property it relates to. S.H.G. is repayable under ¢¢rtain circumstances, primarily following the sale of property, but will nomally be restricted to nei Proceds of sale. (b) (c) (d) (e) (D S(Kial housing grants are amortised in line with th¢ assets economic IAve$ and r¢1¢&5¢d as d¢f¢tTed income yearly. 12
JANE GIBSON ALMSHOUSES NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 ACCOUNTING POLICES (eontinued) @) Other Capltal Grants Where work5 have been financed wholly or partty by capital grants. the cost of those works are shown as deferred income. separate lo th¢ works it relates to. Other capital grdnts ar¢ amortised itl line with the assets usefid economic lives and r¢l¢&s¢d as deferred income yearly. FinAncial InstrnmeDts Financial instruments are classified and accounted for according to the substance of the contractual agreemenL as either flnancial assets, financial liabilities or equity instruments. An equity ins(rument is any Contract that evidences a residual inler¢st in the 8ss¢ls of the ¢ompyny aft¢r dllCting all of its (i) Deslgnated Res¢rve$ The charity ha5 deSigted 011 those r¢serves whith ¢annot be ¢on$idered to be freely available. Cy¢li¢al Maintenan¢e Fund The reserve reflects the charity's commitmenl to maintain its properties in accordance with Charity Commission Sealed Order N888183. Extraordirtary Repair Fund A provision h&$ been establisbed to enable the ¢IrIty to meet its oomJnitm¢nt lo major Tepairs in accordance wilh Charity Commission Sealcd Order N889183. (i) Investments Invesrments are included at closing mid-market value at the balance sheet date. Any gain or Ioss on revaluation is credited or debiied. respectively. to the revalu&ion reserve. (k) Investment Income Dividend5 are included in the statement of compr¢h¢nsive income when they declared at an amount which includes aitributable tax credit and transitional relief. TURNOVER Tumov¢r represents r¢nlal inwme r¢¢eivable on 8 ullits of housing accommodation {2023: 8 units) as follows- 2(ll4 2023 Rents receivable (net of void losse51 Amortisation of social housing grant Amorti$ation of other capital grants 19,703 2,204 4,339 20,280 1.972 2.081 24 Void losses included above, represent a proportion of the y¢ar when no rent was being received from th¢ property due to it being empty. There were 2 {2023.. 0) void properties in the year. 2024 2023 Voids EMPLOYEE INFORMATION The charity ha5 no employees. The ¢hority is controlled by trnstees who received no mUneration during the year (2023.. £nil}. INTEREST RECEIVABLE AND OTHER INCOME 2024 2023 Inv¢stsnent incomc Bank ipterest 10239 1,738 8.748 1,748 13
JANE GIBSON ALMSHOUSES NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 SURPLUS ON ORDINARY ACTIVITIES BEFORE TAXATIO 2024 2023 Thi5 is stat¢d after ¢harging'. Examiners. remuneration- ill their Capacity as examiners (net of VAT) in reSpt of other services Depr¢¢iation Amortisation of oth¢r capital grants Amortisation of S.H.G. 2,345 2,045 11,555 (2,204) 7.637 (2,081) TANGIBLE FIXED ASSETS Frethold Housing Property Total Fixed Assets Site Improvements COST OR VALUATION At l January 2024 Additions Disposa]s 255,286 7,899 240,3 21.955 (10292) 495.678 29,854 (10,292) At 31 December 2024 263 185 252 055 DEPRECIATION At l January 2024 Charge for the year Disp05als 3.964 4,863 137,334 6,692 {10.292) 141,298 11,555 (10,292) At 31 December 2024 133734 142 561 NET BOOK VALUE At 31 December 2024 At 31 December 2023 SOCIAL HOUSING GRANT 2024 2023 Total ac¢umulaied housing grant at 31 December 2024 14 79 R¢cognis¢d in statement of comprehensive income Held in deferred income 71,656 77,134 72,432 72,338 14 io. INVESTMENTS {a) (b) Fixed As5e¢ Investments Current Asset Investmertts Totsl Market value at l January 2024 Interest reinvethd Net invested Gainsl(Los5es) Unrealis¢d Realised 48.020 235,618 6,833 (502) 283,638 6,833 (502) 1,086 8,745 3.381 9,831 3,381 Market value at 31 December 2024 254 075 303 181 Cos¢ 0¢ 31 December 2024 Cosi at 31 Dec¢mb¢r 2023 993 Investsneni * market value comprised UK Equities UK Unit Tnjsts COIF 74,122 179,953 74,122 179,953 49,106 49,106 254 075 14
JANE GIBSON ALMSHOUSES NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 DEBTORS 2024 2023 AarS of rent Prepayments and accNed income 720 3,169 964 2.489 12. CREDITORS: Amounts fallingdue within one year 2024 2023 Advances of rent Accruals and deferred income Social housing grant (note 14#) Olher capital granis (note 14b) 1.677 2,989 2,204 4,413 3.804 1,972 4,297 -JO.073 13. CREDITORS: Amounts falling due after more than orte ytthr 2024 2023 Social housing an1 (note 14a) Other capital grants (not¢ 14b) 74.930 226,396 70.366 225,877 14. SOCIAL HOUSING AND OTHER CAPITAL GRANTS Social Housing Grant 2024 2023 Grant At l January 2024 Additions Disp)sals 144,770 7.0 (2,980} 145,220 {450) At 31 December 2024 Amortisation At l January 2024 Rele&%ed in year Disp05als 72,432 2,204 (2,980) 70,910 1,972 (450) At 31 December 2024 Nei total at 31 December 2024 72 Net total at 31 December 2023 2024 2023 Amounts to be released within one year Amounts to be released in more than one year 2.204 74,930 1,972 70,366 72 15
JANE GIBSON ALMSHOUSES NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 21124 14. SOCIAL HOUSING AND OTHER CAPITAL GRANTS (eontlnu¢d) (b) Other Capltsl Grants 2024 2023 Grant At l January 2024 Addirions 234,109 4,974 103,671 130.438 Ai 31 December 2024 Amorti5ation At l January 2024 Released in year 3.935 4,339 1,854 2,081 At 31 December 2024 Net total at 31 De¢ember 2024 Nd ¢otal at 31 Dec¢mber 2023 23 2024 2023 Arnounts to b¢ released within one year Amounts to be released in more than one year 4,413 226,396 4.297 225,877 DESIGNATED RESERVES Reserve for Cyrlical Malnt¢nance 2024 2023 At l January 2024 Transfer from r¢venue reserve Spend 40,0( 1,000 39,000 I,o(Ki At 31 December 2024 Reserve for Extraordittary Repairs At l January 2024 Incorne Transfer from revenue reserv¢ 2024 2023 114.829 6,833 320 108,559 5.750 520 At 31 Dernber 2024 114.829 Total designated reserves at 31 De¢ember 2024 16 Th¢ ¢harity has designated all those reserves which be nSidered to be freely aYailabl¢. Cyelical Maintenance Fund The reserve reflects the charity's commitment ¢0 maintain its properties in aordanCe with Charity Commission Sealed Order N888183. Extraordinary Repair Fund A provision has been established to enable the charity. to meet its rofflmitment to major repairs ill ¢0[danCe with Charity Commission Sealed Order N889183. 16. REVALUATION RESERVE 2024 2023 At l January 2024 Revaluation durin¥ the year (no(e 10) Transfer {fromyto designated r¢serye5 At 31 December 2024 93.533 9,831 83,808 9,725 16
JANE GIBSON ALMSHOUSES NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 17. REVENUE RESERVE 2024 21n3 At l January 2024 Surplus for the year Trdnsfer (fromyto designated r¢s¢rv¢5 Ai 31 December 2024 92,680 8,892 107,485 7.498 22 18. GENERAL CApfrAL ACCOUNT 2024 2023 At l January 2024 Deficit for the year Almshouses contribution to rL*oration work Trdnsfer from revenue res¢rv¢ At 31 December 2024 51,870 (22,891) 17.879 34,671 (21.157) 17.573 19. CAPITAL COMMITMENTS At 31 D¢ccmb¢r 2024 and 31 December 2023 ther¢ w¢r¢ no contrncted for or auihorised Capital commikn¢nts. 20. CONTINGENT LIABILITIES There were no contingent liabilities as at 3151 December 2024 or 315t December 2023. 21. RELATED PARTIES In the y&irs ending 31 December 2024 and 31 D¢cemb¢r 2023 there were no related parties. 17