Charity number: 223491
ELTHAM UNITED CHARITIES
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

ELTHAM UNITED CHARITIES
CONTENTS
Page
Reference and administrative details of the charity. its Trustees and advlsers
Trustees. report
Indepgndent auditors. report on the financial statements
Statement of financial activities
Balance sheet
Notes to the financial statements
10-22

ELTHAM UNITED CHARITIES
REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS TRUSTEES AND ADVISERS
FOR THE YEAR ENDED 31 DECEMBER 2023
Dr N B A Chase {resigned 12 June 20241
Mr R J Chichester
Mrs A J Grant
Mr P Sowden
Mr S Drury
Mrs V Lazellari
Dr M Mather
Cllr Mrs L Bird
Cllr Mr S 8ackon {appoinled 26 May 2023, resigned 12 September 20241
Charity registered
number
223491
Principal office
Trinity House
3 Bullace Lane
Darrford
Kent
DA1 1BB
Independent auditors
Sargeanl Partnership LLP
Chartered Accountants and Slalutory Auditors
5 While Oak Square
London Road
Swanley
Kent
BR8 7AG
Bankers
Barclays
Leicester
LE87 2BB
Solicitors
Wykeham-Hurford Sheppard & Son Ltd
3B High Street
Chislehursl
Kent
BR7 SAB
Page 1

ELTHAM UNITED CHARITIES
TRUSTEES. REPORT
FOR THE YEAR ENDED 31 DECEMBER 2023
The Tnjslees present their annual report together with the audited financial statements of the Ellham United
Charities for the year from 1 January 2023 to 31 December 2023.
Objectives and activities
Policies and objectives
The charity's activities is the housing and welfare of individuals who on retirement find il financially and socially
difficult lo live on Iheir reduced income.
In selling objectives and planning for activities, the Trustees have given due consideration lo general guidance
published by the Charity Commission relating lo public benefit, including the guidance 'PiJblic benefit.. running a
charity IPB21'.
Achievements and performance
Key performance indlcators
The income 15 reviewed to ensure the assets are appfoprialely invested.
Review of activitigs
The charitys activities remained unaltered during 2023, its priority being the housing and welfare of individuals
who on retirement find it financially and socially difficult lo live on their reduced income. The almshouse has
twenty units for occupation of which seventeen are occupied and three are being refurbished. The charity also
maintains ils policy of continuous repair. During the year a fire broke out in the laundry room and due lo the quick
action of the onsite manager the fire was contained and nobody was injured although the laundry room was
completely gulled. The refurbishment work was covered under the insurance policy and the Trustees look
advantage lo upgrade the machines.
The Charills overall objectives have again been successfully implemented and there is a strong community
spirit amongst the almspeople, well 5UPPOrted by the Trustees and the ManageT.
Flnancial review
Going concem
After making appropriate enqL*iries, the Trustees have a reasonable expectation that the charity has adequate
iesources lo continue in operational existence for the foreseeable future. For this reason, Ihey continue lo adopt
the going concern basis in preparing the financial statements. Further details regarding the adoption of the going
concern basis can be found in the accounting policies.
Structure, governance and management
Constitution
Ellham United Charities is a registered charity. number 223491, and is constiluled under a Trust deed.
The principal object of the charity is lo provide free accommodation for retired persons on restricted income who
reside in the parish of Ellham and Mollingham.
Methods of appointmgnt or elgction of Trustees
The management of the charity is the responsibility of the Trustees who are elected and Co￿pIed under the
terms of the Trust deed dated 9th July 1907 and subsequent amendments.
Page 2

ELTHAM UNITED CHARITIES
TRUSTEES. REPORT ICONTINUEDI
FOR THE YEAR ENDED 310ECEMBER 2023
StruGturgJ govemance and management Icontlnued)
• Organisational structure and declslon-maklng policies
The day lo day management is performed by the onsite Manager and the financial management is administered
by the Clerk in conjunction with the Trustees. The Trustees now meet every month in the Trustees, room al
Fifteenpenny Fields.
Plans for future perlods
The Trustees, aim is for the charity lo continue the maintenance of the almshouse 2nd lo maximise occupancy of
the units. In addition the Trustees are reviewing the property portfolio and refurbish where necessary so that the
income stream is maintained.
Since the year end the Charity has contracted property refurbishment costs of £120,000 with further costs
anlicipaled of £20,000.
Statement of Trustggs. responsibilities
The Trustees are responsible for preparing the Trustees. report and the financial statements in accordance with
applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting
Practice).
The law applicable lo charities in England & Wales requires the Trustees lo prepare financial slalemenls for
each financial which give a true and fair view of the stale of affairs of the charity and of its incoming resources
and application of resources, including its income and experidilure, for that period. In preparing these financial
stalemenls, the Trustees are required lo..
select suitsble accounting policies and then apply them consislenlly..
observe the methods and principles of the Charities SORP IFRS 1021..
make jijdgmenls and accounting estimates that are reasonable and prudent",
slate whether applicable UK Accounting Standards IFRS 1021 have been followed, subject to any material
departures disclosed and explained in the financial sialemenls.,
prepare the financial stslemenls on the going concern basis unless il is inappropriate to presume Ihat the
charity will continue in business.
The Trustees are responsible for keeping adequate accotjnting records that are sufficient to show and explain
the charills transactions and disclose with reasonable accuracy al any lime the financi81 position of the charity
and enable them lo ensure that the financial statements comply with the Charities Act 2011. the Charity
(Accounts and Reports) Regulations 2008 and the provisions of the Trust deed. They are also responsible for
safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of
fraud and other irregularities.
Dis¢losure of infonnatlon to audltors
Each of the persons who are Trustees al the lime when this Trustees. report is approved has confirmed Ih21'.
so far as that Trustee is aware, there is no relevant audit information of which the charity's auditors are
unaware, and
that Truslee has taken all the steps that ought lo have been taken as a Trustee in order lo be aware of
any relevant audit information and to establish that the charity's auditors are aware of that information.
Page 3

ELTHAM UNITED CHARITIES
TRUSTEES. REPORT (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2023
Auditors
We are pleased lo appoint Sargeanl Partnership LLP as our auditors, who have indicated their willingness lo
continue in office_ The designated Trustees will propose a motion reappointing the auditors al a meeting of the
Iruslees.
Approved by order of the members of the board of Trustees and signed on their behalf by..
Cllr Mrs L Bird
Trustee
Mr P Sowden
Trustee
Dale..
Page 4

ELTHAM UNITED CHARITIES
REPORT OF THE INDEPENDENT AUDITORS TO THE TRUSTEES OF ELTHAM UNITED CHARITIES
Opinion
We have audited the financial slalemenls of Ellham United Charities (the "Charity") for the year ended 31
December 2023, which comprise the Slalement of Financial Aclivilies, the Balance Sheet and notes to the
financial slalemenls, including a summary of signrficanl accounting policies. The financial reporting framework
that has been applied in their preparation is applicable law and United Kingdom Accounting Standards Iunited
Kingdom Generally Accepted Accounting Praclicel.
In our opinion the financial stalemenls..
give a true and fair view of the stale of the charilWs affairs as at 31 December 2023 and of ils incoming
resources and application of resources for the year then ended.,
have been properly prepared in accordance with United Kingdom Generally Accepted Accountin9 Practice,.
and
have been prepared in accordance with the requiremenls of the Charities Act 2011.
Basis for opinion
We conducted our audit in accordance with International Standards on Auditing (UK) IISAS IUK}} and applicable
law. Our responsibilities under those standards are further described in Ihe Auditors. responsibilities for the audit
of the financial slalemenls section of our report. We are independent of the charity in accordance with the ethical
iequiremenls that are relevant lo our audit of the financial statements in the United Kingdom, including the
Financial Reporting Council's Ethical Standard, and we have fulfilled our other ethical responsibilities in
accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and
appropriate lo provide a basis for our opinion.
Conclusions rolating lo going concern
In auditing the financial slalemenls, we have concluded that the Trustees, use of the going concern basis of
accounting in the preparation of the financial slalements is appropriate.
Based on the work we have performed, we have not idenlrfied any material uncertainties relating lo events or
conditions that, individually or collectively, may cast significant doubl on the charity's ability lo continue as a going
concern for a period of al least twelve months from when the financial slalemenls are aulhorised for issue.
Our responsibilities and the responsibilities of the Trustees with respect lo going concern are described in the
relevant sections of this report.
Other information
The Trustees are responsible for the other information. The other Information comprises the information included
in the Annual Report, other than the financial slalemenls and our Report of the Independent Auditors
thereon.
Our opinion on the financial slalemenls does not cover the other information and. except lo the exlenl otherwise
explicitly staled in our report, we do not express any form of assurance conclusion Ihereon.
In connection with our audit of the financial slalements. our responsibility is lo read the other information and.
in doing so, Consider whether the other information is materially inconsislenl with the financial statements or our
knowledge obtained in the audit or olhermse appears lo be materially misslaled. If we idenlrfy such material
inconsistencies or apparent material misslalemenls, we are required lo determine whether this gives rise lo a
material misstalemenl in the financial slalemenls themselves. If, based on the work we have performed, we
conclude that there is a material misslatemenl of this other infofmalion, we are required to report that fact. We
have nothing to report in this regard.
Page 5

ELTHAM UNITED CHARITIES
REPORT OF THE INDEPENDENT AUDITORS TO THE TRUSTEES OF ELTHAM UNITED CHARITIES
Matters on which we are requlred to report by exception
We have nothing lo report in respect of the following matters where the Charities (Accounts and Reports)
Regulations 2008 requires us lo report lo you rf, in our opinion..
the information given in the Tru51ees' report is inconsistent in any material respect with the financial
slalemenls., or
sufficient accounting records have not been kept., or
the financial slalements are not in agreement with the accounting records and returns-, or
we have not received all the information and explanations we require for our audit.
Responsibilities of Trustees
As explained more fully in the Slalemenl of Trustees, Responsibilities statement, the Trustees are responsible
for the preparalion of the financial slalemenls which give a true and fair view, and for such internal control as the
Trustees determine is necessary lo enable the preparation of financial slalemenls that are free from material
misstatement, whether due lo fraud or error.
In preparing the financial stalemenls, the Trustees are responsible for assessing the charity's ability lo conlinue
8s a going concern, disclosing, as applicable, mallers related lo going concern and using the going concern
basis of accounting unless the Trustees either intend lo liquidate the charity or to cease operations, or have no
realistic allerr)alive bul lo do so.
Our responsibilities for the audit of the financial statements
We have been appointed as auditor under section 144 of the Charities Act 2011 and report in accordance with
the Act and relevant regulations made or having effect thereunder.
Our objectives are lo obtain reasonable assurance about whether the financial slalemenls as a whole are free
from material misslatemenl, whether due to fraud or error, and lo issue a Report of the Independent Auditors,
that includes our opinion, Reasonable assurance is a high level of assurance, bul is nol a guarantee that an audit
conducted in accordance with ISAS IUKI will always detect a material misslalement when il exists.
Misstalemenls can arise from fraud or error and are considered material if, individually or in the aggregate, they
could reasonably be expected lo influence the economic decisions of users taken on the basis of these financial
slalemenls.
The exlenl to which our procedures are capable of detecting irregularities, including fraud is detailed below..
Explanatlon as to what extent the audlt was considored capable of det￿tIng irregularities, includlng
fraud
The objectives of our aueil are lo identify and assess the risks of material misstatement of the financial
slalemenls dLJe to fraud or error., lo obtain sufficient appropriate audit evidence regarding the assessed risks of
material misstatement due lo fraLFd or error., and lo respond appropriately lo those risks. Owing lo the inherent
limitations of an audit, there is an unavoidable risk that malerial misstatements in the financial statements may
not be detected, even though the audit is properly planned and performed in accordance with the ISA'S (UK).
In identifying and assessing risks of material misslalement in respect of irregularities including, fraud and
noncompliance with laws and regulations, our procedures included the following..
-we obtained an understanding of the legal and regulatory frameworks applicable lo the charity and the sector in
which they operate. We determined that the following laws and regulations were most signrficant.. the Charites
Act2011.
Page 6

ELTHAM UNITED CHARITIES
REPORT OF THE INDEPENDENT AUDITORS TO THE TRUSTEES OF ELTHAM UNITED CHARITIES
-we obtsined an understanding of how the Charity is complwng with those legal and regulatory frameworks by
making inquiries to the management and Trustees. We corioboraled our inquiries through our review of papers
provided lo the audit engagement team.
-we assessed the susceplibilily of the CharilYs financial slalements to material misslalemenl, including how
fraud might occur. Audit procedures performed by the audit engagement team included:
al Idenlrfying and assessing the design effectiveness of conliols management has PLtI in place lo prevent and
etecl fraud.,
bl Understanding how those charged with governance considered and addressed the potential for override of
controls or other inappropriate influence over the financial reporting process.,
cl Challenging assumptions ane judgements made by management in ils signrficanl accounting eslimales..
dl Identifying and testing journal entries, in particular any journal entries posled with unusual accounl
combinations.. and
el Assessing the extent of compliance with the relevant laws and regulations.
A further description of our responsibilities for the audit of the financial slalemenls is located on the Financial
Reporting Council's website al www.frc.org.uklaudilorsresponsibilities. This description forms part of our
ReFM)rt of the Independent Auditors.
Use of our report
This report is made solely lo the charity's Trustees, as a body, in accordance with Part 4 of the Charities
(Accounts and Reports) Regulations 2008. Our audit work has been undertaken so that we might slate lo the
charity's Trustees those matters we are required lo stale to them In an auditors, report and for no other purpose.
To the fullest exlenl permitted by law, we do not accept or assume re5ponsibilily to anyone other than the
ch8rily ané the charity's Trustees as a body, for our audit work, for this report, or for the opinions we have
formed.
Sargeant Partnership LLP
Chartered Accounlanls and Slalutory Auditors
5 While Oak Square
London Road
Swanley
Kent
BR8 7AG
Date..
Ib lio laoa4-
Page 7

ELTHAM UNITED CHARITIES
STATEMENT OF FINANCIAL ACTIVITIES
FOR THE YEAR ENDED 31 DECEMBER 2023
Endowment
funds
2023
Restricted
funds
2023
Unreslricled
funds
2023
Total
funds
2023
Total
funds
2022
Note
Income and
endowments from:
Donations and legacies
Investments
Other income
120
157,286
120
269,960
6,190
236,764
36
112,644
30
Total in¢omg and
endowments
112,644
30
157,406
270,080
242,990
Expenditurg on..
Raising funds
Charitable aclivilies
5,125
6,185
13,046
175,230
18,171
181,415
27,919
170,079
Total expenditure
11,310
188,276
199,586
197,998
Net
incomellexpenditure)
before net gains on
investments
Nel gains on
investments
101,334
30
(30,8701
70,494
44,992
2,523,287
66,121
2,589,408
341,196
Net income
Transfers between
funds
2.624,621
35,251
2,659,902
386,188
17
{37,382}
37.382
Net movement in
funds
2,587,239
72,633
2,659,902
386,188
Reconciliation of
funds:
Total funds brought
forward
Net movement in funds
10,773,608
2,587,239
4,836
974,667
72.633
11,753.111
2,659,902
11,366,923
386,188
Total funds carried
forward
13,360,847
4,866
1,047,300
14,413,013
11,753,111
The Statement of Financial Activities includes all gains and losses recognised in the year.
The notes on pages 10 to 22 form part of these financial statements.
Page 8

ELTHAM UNITED CHARITIES
BALANCE SHEET
AS AT 31 DECEMBER 2023
2023
2022
Note
Fixed assets
Tangible assets
Investments
Investment propety
12
197,954
4,059,035
9,848,500
204,139
3,794,394
7,420,500
14
14,105,489
11.419,033
Current assets
Debtors
12,991
313,661
11,296
337,231
Cash at bank and in hand
326,652
348.527
Creditors.. amounts falling due within one
year
16
119,1281
(14,449}
Net current assets
307,524
334,078
Total assets less current1Sabilltles
14.413,013
11,753,111
Total net assots
14,413,013
11,753,111
Charity funds
Endowment funds
13,360,847
4,866
1,047,300
10,773,608
4,836
974,667
Reslricled funds
Unreslricled funds
17
Total funds
14,413,013
11,753,111
The financial statements were approved and aulhorised for issue by the Trustees and signed on their behalf by..
Cllr Mrs L Bird
Trustee
Mr P Sowrlen
Trustee
Dale:
The notes on pages 10 10 22 form part of these financial statements.
Page 9

ELTHAM UNITED CHARITIES
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEM8ER 2023
General infomiation
Eltham United Charities is a charity registered in the UK under number 223491 and operates from
Frfleenpenny Fields, 8 Blunt Road, Eltham, London SE9 1 HT
Accounting po5icies
2.1 Basls of preparation of financial statements
The financial statements have been prepared in accordance wlh the Charities SORP IFRS 1021
Accounting and Reporting by Charities.. Statement of Recommended Practice applicable to charities
preparing their accounts in accordan￿ with the Financial Reporting Standard applicable in the UK
and Republic of Ireland {FRS 1021 (effective 1 January 20191, the Financial Reportin9 Standard
applicable in the UK and Republic of Ireland IFRS 1021 and the Charities Act 2011.
The financial statements have been prepared lo give a 'lrue and fair. view and have departed from
the Charities IAccounts and Reports) Regulations 2008 only lo the exlenl required lo provide a 'lrue
and fair. view. This departure ha5 involved following the Charities SORP IFRS 1021 published in
October 2019 rather than the Accounting and Reporting by Charities.. Slalemenl of Recommended
Practice effective from 1 April 2005 which has since been withdrawn.
Ellham United Charities meets the definition of a public benefit entity under FRS 102. Assets and
liabilities are initially recognised al historical cost or transaction v8lue unless otherwise slated in the
relevant accounting policy.
2.2 Going Concern
Al the lime of approving the financial statements, the Trustees have a reasonable expectation that
the charity has adequate resources lo continue in operational existence for the forseeable future. In
assessing the charills ability lo remain a going concern, the Trustees have considered the level of
future minimum oulgoings of the charity in comparison with the available funds and expected future
incomings. Thus the Trustees continue to adopt the going con￿rn basis of accounting in preparing
the financial slatemenls.
2.3 Income
All income is recognised the charity has enlillemenl lo the income, il is probable that the income
will be received and the amount of income receivable can be measured reliably.
Other income is recognised in the period in which il Is receivable and to the exlenl the goods have
been provided or on completion of the service.
2.4 Expenditure
Expenditure is recognised once there is a legal or constructive obligation lo Ifansfer economic benefit
lo a third party, il is probable that a transfer of economic benefits will be required in settlement and
the amount of the obligation can be measured reliably. Expenditure is classified by activity. The costs
of each activity are made up of the lolal of direct costs ané shared costs, including support costs
involved in undertaking each activity. Direct costs allribulable to a single activity are allocated directly
lo that activity. Shared costs which conlribule lo more than one activity and support costs which are
not attributable to a single activity are apportioned between those activities on a basis consislenl wth
the use of resources. Central staff costs are allocated on the basis of lime spent, and depreciation
charges allocated on the portion of the asset's use.
Expenditure on raising funds includes all expenditure incurred by the chaTity lo raise funds for its
charitable purposes and includes costs of all fundraising aclivilies events and non-charilable trading.
Page 10

ELTHAM UNITED CHARITIES
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
Accounting policles (continued)
2.4 Expenditure {continued>
Expenditure on charitable activities is incurred on direclly undertaking the activities which further the
harity's objectives, as well as any associated support costs.
2.5 Interest recelvable
Interest on funds held on deposit is included when receivable and the amounl can be measured
reliably by the charity., this is normally upon notification of the interest paid or payable by the institution
with whom the funds are deposited.
2.6 Tangible fixed assets and dgpreciation
Tangible fixed assets are initially recognised al cost. After recognition, under the cost model, tangible
fixed assets are measured al cost less accumulated depreciation and any accumulated impairment
losses. All costs incurred lo bring a tangible fixed asset into its intended working condition should be
included in the measurement of cost.
Depreciation is charged so as to allocate the cost of tangible fixed assets less their residual value
over their estimated useful lives, using the slraighl-line method.
Depreciation is provided on the following basis..
Freehold property
2.kn slraighl line
2.7 Invastments
Fixed asset investments are a form of financial instrument and are initially recognised al their
transaction cost and subsequently measured al fair value al the Balance sheet date, unless the value
cannot be measured reliably in which case it is measured al cost less impairment. Investment gains
and losses, whether realised or unrealised, are combined and presented as 'GainsllLossesl on
inveslmenls. in the Slalemenl of financial activities.
2.8 Debtors
Trade and other debtors are recognised at the settlement amount after any trade discount offered.
Prepayments are valued al the amount prepaid nel of any trade discounts due.
2.9 Cash at bank and in hand
Cash al bank and in hand includes cash and short-lerm highly liquid investments with a short maturity
of three months or less from the dale of acquisition or opening of the deposit or similar account.
2.10 Liabilities and provisions
Liabilities are recognised when there is an obligation al the Balance sheet dale as a result of a past
event, it is probable Ihat a transfer of economic benefit will be required in settlement, and the amount
of the settlement can be estimated reliably.
Liabilities are recognised at the amount that the charity anlicipales il will pay lo sellle the debt or the
amount it has received as advanced payments for the goods or services il musl provide.
Provisions are measured al the best estimate of the amounts required lo settle the obligation. Where
the effect of the lime value of money is material, the provision is based on the present value of those
amounts, discounted al the pre-tax discount rale that reflects the risks specrfic lo the liability. The
unwinding of the discount is recognised in the Statement of financial activities as a finance cost.
Page11

ELTHAM UNITED CHARITIES
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
Accounting pollcles {contlnued}
2.11 Financial Instruments
The charity only has financial assets and financial liabilities of a kind that qualify a5 basic financial
inslrumenls. Basic financial instruments are initially recognised al transaction value and subsequently
measureé al their selllemenl value with the exception of bank loans which are subsequently
measured al amortised cost using the effective interest method.
2.12 Pensions
The charity operates a ¢Yefined contribution pension scheme and the pension charge represents the
amounts payable by the charily to the fund in respect of the year.
2.13 Fund accounting
General funds are unrestricted funds which are available for use al the discretion of the Trustees in
furtherance of the general objectives of the charity and which have not been designated for other
purposes.
Reslricled funds are funds which are lo be used in accordance with specrfic restrictions imposed by
donors or which have been raised by the charity for particular purposes. The costs of raising and
administering such funds are charged against the specific fund. The aim and use of each reslricled
fund is set out in the notes lo the financial statements.
Investment income, gains and losses are allocated lo the appropriate fund.
Income from donations and legacies
Unreslricled
funds
2023
Total
funds
2023
Donations
120
120
Unreslricled
funds
2022
Total
funds
2022
Donations
6,190
6,190
Page 12

ELTHAM UNITED CHARITIES
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
Investment income
Endowment
funds
2023
Reslricled Unreslricte
funds
funds
2023
2023
Total
funds
2023
Investment income - local investment
properties
Income from local listed investments
Investment income- local cash
123,895
23,246
10,145
123,895
135,408
10,657
112,162
482
30
112,644
157,286
269,960
Endowment
funds
2022
Restricted Unrestricted
funds
funds
2022
2022
Total
funds
2022
Investment income- local investment
properties
Income from local listed investments
Investment income - local cash
111,563
21,691
2,224
111,563
122,974
2,227
101.283
101,283
135,478
236,764
Other incoming resources
Totsl
funds
2023
Registration fees
Unreslricled
funds
2022
Total
funds
2022
Registration fees
36
36
Page 13

ELTHAM UNITED CHARITIES
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
Investment managemgnt costs
Endowment Unrestricted
funds
funds
2023
2023
Total
funds
2023
Investment property insurance
Investment property repairs
Investment property administration fees
Investment property rates and water
Stockbroker administration fee
2,741
7,503
360
73
2.369
2,741
7,503
360
73
7,494
5,125
5,125
13,046
18,171
Endowment Unreslricled
fLJnds
funds
2022
2022
Total
funds
2022
Investment property insurance
Investment propety repairs
Investment propety administration fees
Stockbroker administration fee
2,435
17.463
540
2,435
17,463
5.156
2,325
7.481
5,156
22,763
27,919
Analysls of expenditure on charitabla activities
Summary byfund type
Endowment Unrestricted
funds
funds
2023
2023
Total
2023
Amspersons
6,185
175,230
181,415
Endowment Unreslricled
funds
funds
2022
2022
Total
2022
Almspersons
6,186
163,893
170,079
Page 14

ELTHAM UNITED CHARITIES
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
Analysis of gxpenditure by activities
Activities
undertaken
directly
2023
Support
costs
2023
Total
funds
2023
Amspersons
147,388
34,027
181,415
Activities
undertaken
directly
2022
Support
costs
2022
Total
funds
2022
Almspersons
143,666
26,413
170,079
Analysis of direct Costs
Total
funds
2023
Total
funds
2022
Staff costs
17,225
6,185
700
7,098
6,462
103,912
4,982
15,796
6,186
675
5,759
6.093
100,392
4,284
630
1,003
2,848
Depreciation
Pensions & grants
Rates & water
Light & heal
Repairs & maintenance
Professional
Office expenses
Social events & Christmas gifts
Training costs
824
147,388
143,666
Page15

ELTHAM UNITED CHARITIES
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
Analysis of expgnditure by activities (continued)
Analysis of support costs
Total
funds
2023
Total
funds
2022
Staff costs
Insurance
Accountancy
Auditor fees
Professional
Telephone
Office expenses
Governance costs
15,805
1.853
1,620
7,200
4,577
765
2,196
14,505
1,678
1,560
6,082
627
1,051
910
34,027
26,413
Auditors. remuneration
The auditors. remuneration amounts lo an auditor fee of £7,20012022- £ -).
10.
Staff costs
2023
2022
Wages and salaries
Contribution lo defined contribution pension schemes
31,643
1,387
29,013
1,290
33,030
30,303
The average number of persons employed by the charity during the year was as follows..
2023
No.
2022
No.
Management staff
No employee received remuneration amounting to more than £60,000 in either year.
11.
Trustees, remuneration and expgnses
During the year, no Tnjstees received any remuneraliori or other benefits12022 - £NILI.
Page 16

ELTHAM UNITED CHARITIES
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
11.
Trustees. remuneration and expenses Icontinuedl
During the year, no Trustee expenses have been incurred12022 - £NILI.
12. Tanglble flxed assets
Freehold
property
Cost or valuation
Al 1 January 2023
309,297
Al 31 Decembei 2023
309,297
Depreciation
At 1 January2023
Charge for the year
105,158
6,185
At 31 December 2023
111,343
Net book value
At 31 De￿rnber 2023
197,954
Al 31 December 2022
204,139
13.
Investrnent property
Freehold
investment
property
Valuation
At 1 January 2023
Surplus on revaluation
7,420,500
2,428,000
At 31 December 2023
9,848,$00
With regard lo the investrnent property at Keightley Drive, and research into the leases, there was an
unrecorded part of Keighlley Drive eslale which comprises 66 flats and rnaisoneltes held by London and
Quatrant Housing Trust under a ground lease from the Charity expiring in September 2048. There is a
reversionary value attached lo these flals and maisonetles when the lease expires in 2048, therefore the
updated information relating lo the properties which are held under 5ub-le8ses has resulted in a corrected
basis of valuation increasing the sum staled by £2,312,000.
Page 17

ELTHAM UNITED CHARITIES
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
13. Investment property (continued)
The 2023 valuations were made by I Skinner FNAVA of Bernard H Skinner & Co, on an open market
value for existing use basis.
14. Flxed asset investments
Listed
investments
Cost or valuation
Al 1 January 2023
Additions
Disposals
Revaluations
3,794,394
247,308
1155,6841
173,018
Al 31 December 2023
4.059,035
15. Debtors
2023
2022
Due within one year
Prepayments and accrued income
12,991
11,296
12,991
11,296
16. Crgditors.. Amounts falllng due wlthln one year
2023
2022
Trade creditors
Other creditors
1.213
17,915
1,213
13,236
19,128
14,449
Page 18

ELTHAM UNITED CHARITIES
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
17.
Statomgnt of funds
Statgmgnt of funds- current year
Balance al
31
December
2023
Balance al 1
January
2023
Transfers
inlout
Gainsl
(Losses)
Income Expenditure
Unrestrlcted
funds
General Funds -
all funds
974,667
157,406
1188,276}
37,382
66,121
1,047,300
Endowment
funds
Special range
fund
General fund
capital account
10,186,207
75,262
(6,1851
137,382} 2,523,287 12,741,189
587,401
37,382
{5,1251
619,658
10,773,608
112,644
111,3101
137,3821 2,523,287 13,360,847
Restricted
funds
Thomasin
Sampson
lapprenticingl
charity fund
4,836
30
4,866
Total of funds
11,753,111
270,080
1199,5861
2.589,408 14.413,013
Page 19

ELTHAM UNITED CHARITIES
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
17.
Stalgment of funds Icontlnued)
Statement of funds - prlor year
Balance al
31
December
2022
Balance at
1 January
2022
Transfers
inlout
Gainsl
(Losses)
Income Expenditure
Unrestricted
funds
General Funds -
211 funds
1,071,671
141,704
1186,656}
32,503
184,5551
974,667
Endowment
fund$
Special range
fund
General fund
capital account
9,697,862
68.780
16.186)
425,751
10,186,207
592,557
32.503
15.1561
132,503)
587,401
10.290,419
101.283
111,3421
132,5031
425,751 10,773,608
Restricted
funds
Thomasin
Samp50
lapprenlieing}
charity fund
4,833
4,836
Total of funds
11,366,923
242,990
{197,9981
341.196 11,753,111
Page 20

ELTHAM UNITED CHARITIES
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
18.
Summary of funds
Sumrnary of funds - current year
Balance al
31
December
2023
Balance al 1
January
2023
Transfers
inlout
Gainsl
{Lossesl
Income Expenditure
General funds
Endowment
funds
Reslricled funds
974,667
157,406
1188,2761
37,382
66,121
1,047,300
10,773,608
4,836
112,644
30
111,3101
137,382} 2,523,287 13,360,847
4,866
11,753,111
270,080
1199,5861
2,589,408 14,413,013
Summary of funds - prior year
Balance at
31
December
2022
Balance al
1 January
2022
Transfers
inloul
Gainsl
(Losses)
Income
Expenditure
General funds
Endowment
funds
1,071,671
141,704
1186,656)
32,503
{84,5551
974,667
10,290,419
4,833
101,283
111,3421
132,5031
425,751 10,773,608
4,836
Restricted funds
11,366,923
242,990
1197,998}
341,196 11,753,111
19.
AnaI￿lS of net assets between funds
Analysis of nèt assets between funds - current year
Endowment
funds
2023
Restricted Unre51ri¢led
fLJnds
funds
2023
2023
Total
fLJnds
2023
Tangible fixed assets
Fixed asset investments
197,954
3,225,300
9,848,500
107.621
118,5281
197,954
4,059,035
9,848,500
326,652
119,1281
833,735
Investment property
Current assets
Creditors due within one year
4,866
214,165
16001
Total
13,360,847
4,866
1,047,300 14,413,013
Page 21

ELTHAM UNITED CHARITIES
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023
19. Analysis of net assets between funds Icontinuod)
Analysis of net assets between funds - prior year
Endowment
funds
2022
Restricted Unrestricted
funds
funds
2022
2022
To121
funds
2022
Tangible fixed assets
Fixed asset investments
Investment property
Current assets
Creditors due wthin one year
204.139
3,036.451
7,420,500
126,967
{14.4491
204,139
3,794,394
7,420,500
348,527
114,4491
757,943
4.836
216,724
Total
10,773.608
4,836
974,667 11,753,111
20.
Capltal Commltments
Since the year end the Charity has contracted propety refurbishment costs of £120.000 with further costs
anlicipaled of £20,000.
21.
Pension commitments
The Charity operates a defined contribution pension scheme. The assets of the scheme are held
separately from those of the Charity in an independently administered fund. The pension cost charge
represents contributions payable by the Charity lo the fund and amounted lo £1,38712022 - £1,290).
Contributions lotaling £Nil 12022 £Nill were payable to the fund al the balance sheet dale and are
included in creditors.
Page 22