STANLEY & BROCKLEHURST ALMSHOUSES
FINANCIAL STATEMENTS
YEAR ENDED 31 MARCH 2024

STANLEY & BROCKLEHURST ALMSHOUSES
FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024
Contents
Pagè
Reglstered Social Housing Provlder Information
Report ofthe Tru51ees
Independent Auditor's Report
Slalemenl of Comprehensive Income
Statement of Financlal Position
Notes to the Fin8n¢ial Stslemenl8
10
12

STANLEY & BROCKLEHURST ALMSHOUSES
FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024
Reglstsred Charlty number
223691
Regulator of Soclal Houslng reglstratlon
number
A3911
Trust88s of tho Charlty
Cllr. Mr. N. P. Mannion {Chair}
Mrs. D. 8enlley Smith
Mr. P. Tyrrell
Mr. E. Hunter
Manager
Ms. F. Wi130n
R9gister&d office
2 Sherwood Road
Macclesfi&ld
Cheshi
SK117RR
Audltor
Harts Ltd
Weslminsler House
10 Weslminsler Rd
Macclesfield
Cheshire
SK10 18X
Solicltor
Wains Solicitors
39 - 43 Churchside
Macclesfield
Cheshlre
SK10 1HW
Banke
Natwest Bank
2 Cheslergate
Macclesfield
Cheshire
SK116BS

STANLEY & BROCKLEHURST ALMSHOUSES
FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024
TRUSTEES REPORT
The Board of Trustees of Stsnley & Brocklehursl Amshouses presents their report and the audited finan¢lal
statements of the Registered Provider IRPI for the year ended 31 March 2024.
structur&. governance and management
The Trustees of the board who have served during the year were as follows..
Cllr. Mr. N.P. Mannion
Mr5. D. Bentley Smlth
Mr. P. Tyrrell
Mr. E. Hunter
The Trust is governed by a Charity Commission scheme dated 26 March 1991 and Is a Registered Charlly.
11 1$ also a Registered Social Housing Provider.
Oblactlves and activltles
Stanley & Brocklehursl Almshousès Is a Registered Char5ty and a Registered Social Landlord. The charity
provides accommodation for poor married couples and single people 55 years of age and over. The charity
operates exclusively wthin the Borough of Macc1esfield las al 31 March 19741 and the civil paTishes of
Adlinglon, Bolllngton. Henbury, Hurdsfield. Preslbury and Sutton. The charity owns and malnlains twelve
bungalows. specifically deslgnaled for elderly people
The weekly maintenance contribullons from the residents are the only Source of funds available lo the
Trustees lo provide a safe envSronmenl for polenllally vulnerable people, to maintain and improve the
properties and lo perform slalulory safely checks. There is additionally a small investment income from
fund5 held in the COIF Charities Deposit Fund.
The Trustees of the charity maintain that they have complied with the duly described in section 4 of the
Charities A¢1 2011 to have due regard lo public benefit guidance published by the Commisslon. The
Trustees have considered Ihls and believe that the chaTily prgvides public benefit by maSnlaining 12
almshouses as quality housing for elderly people al a cost well below market levels.
Achievom&nt$ and performance
The charity continues lo provide twelve units of a¢cornmod8tion in a listed development in the centre of
Macclesfield. Overall, the financial results show a surplu8 and the medium term business plan showy
the charity belng cash positlve for the foreseeable future.
New gas boilers have been installed al every property at S&B Court. New radiators were also required at 2
and 7 S&8 Court and re-connectlon of gas for Cooking al 2, 5 and 7 S&B Court. New secondary glazing has
been installed al 1. 8, 10 and 12 S&B Court and will be installed at all Almshouses. As part of the work lo
reduce ulilily bills. loft insulallon has been upgraded at all properties al S&B Court. Delays in awaiting
planning permission for the installation of the new boilers and secondary glazing led to higher than usual
void losses as tsvo Almshouses remained uno¢cupied awalling planning permission,

STANLEY & BROCKLEHURST ALMSHOUSES
FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024
TRUSTEES REPORT
Flnanclal rèvlow
Trustees have a reasonable expectation that the charity has adequate resources lo continue operallons for
the loresee8ble future. Resetves are held in view ol the high interest mortgage loans still being repaid and
also lo manage Ilu¢tualions in income due to voids. Whilst the Almshouses are generally fully occupied 81
present there have been periods when empty Properties have resulted in a significant reduction of income.
Some reserves are also needed for repair work which Is done en bloc lo minimise scaffolding costs.
Anal￿1$ uslng flnanclal and non-flnanclal k&y pgrformance Indicators
The figures (expressed as £OOO} in the table below are tsken from the Annual Report & Financlal
Slalemenls for the year ended 31 March 2024.
2024 | 2023 7
51.7
Turnover
Adminislralive expenditure
Op&rating surplus
Interest receivable & payable and other charges
Tot81 comprehenslve Incom8 for th& yaar
167.71
13.1
Income & exp.endlture reserve
733.0
As8&$sment of how we are achievlng value for money Includlng performance metrics
Trustees believe that the quality ol workmanship from their selected local contractors to be important for
Ihelr Client group.
2024 | 2023
0%
0%
55%). , _162Ohl
Ovo
£9.495
£3.640
1131%L 160A I
1106%1
210
(6%1.L 1D
Reinvestment %
New Supply (Social houslng unilsl_%
New Supply_INon-social hoUsin￿un1Is)_￿A
EBITDA MRI interest cover %
Headline social housing cost £
Operating_margin (social housing lellings}_%
j Operating margin]overa1110
Return on capital employed %
Major Rlsks and uncertalntles oro consldgrod lo b&:
The homes no longer provlde acoommodation or facllilies suitable for our c11ent group
b. There are slgnifi¢anl changes to the housing benefit system
HM Government forces rent reductions onlo the supported housing sector
d. The age of the properties necessitates sigriificanl expenditure
The Trustees lose key members and are not able lo replace them with members with relevant skills
Asse8ymgnt of compllance wlth the Governance and Flnanclal Vlablllty standard
Trustees have developed a medium li.e. five yearl financial model which shows that the charlly remains
cash Positive.
Code of Governance
Trustees have adopted the Charity Commission Good Governance Code.

STANLEY & BROCKLEHURST ALMSHOUSES
FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024
TRUSTEES REPORT
Board's responslblllties
The Board is responslble lor preparin9 the report and financial statements in accordance with applicable law
and regulations.
Registered social housing leglslation requires the Board lo prepare financial $latemen15 for each financial
year which 9ive a true and fair vlew ol the slate of affairs of the association and of 118 In¢ome and
expenditure for that perlod.
In preparfng these financial statements, the 8oard Is required lo..
select suitable accounting policies and then apply them consistently.,
make judgements and esllmates that are reasonable and pwdent..
slate whether applicable accounting standards have been followed. sublecl to 8ny material
departures dls¢losed and explained in the financial slatemen18', and
prepare the financial statements on the going concern basis unless il 18 Inapproprfate to presume
that the associatlon will continue in business.
The Board is responsible for keeping proper accounting records which disclose with reasonahle accuracy al
any lime the financial position of the associallon and enable il lo ensure that the financial slalemenls comply
¥Mlh the HDu5ing and Regeneration Ad 2008 and the A¢¢ounling Direction for private registered Pro￿derS of
soclal housing Sn England 2022. 11 has general responsibility for taklng reasonable steps 10 Safeguard the
assets ol the as50ciatlDn and lo prevent and detect fraud and other irregul8rilies.
The Board is responsible for the maintenance and inlegrlty of the corporate and flnancial information
included on the association's website. Legislation in the United Kingdom governing the preparation and
dlsseminallon of financial slalements may fjiffer from legislation in other jurisdictions.
We, the Trustees of the Board who held offlce al the fjale of approval of these Financial Slalements as yet
out above each Confirm, so laT as we are aware, that..
there is no relevant 8udil infomalion of which the company's auditors are unaware-, and
we have taken all the steps that we ought lo have taken as Trustees in order lo make ourselves
aware of any relevant audit information and to establish that the company's auditors are aware of
that information.
By order of I
e Board
Cllr. Mr N. P. Mannion, Chalr of Trustees
Dated '.

STANLEY & BROCKLEHURST ALMSHOU.8ES
FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024
INDEPENDENT AUDITOR'S REPORT
Oplnlon
We have audited the financial statements of Stanley & Brocklehursl Almshouses for the year ended 31st
M8r¢h 2024 which comprise the Slalement of Comprehensive Income. the Balance Sheet and the related
notes. The financial reporting framework that has been applied in their preparallon is appllcable law and
United Kingdtsm Accounting Standards Iunlled Kingdom Generally Accepted Accountlng Pra¢lice} including
FRS 102 "The Financlal Reporting Standard applicable in the UK and Republic of Ireland"
In our opinion the financS81 statements..
91ve a true and fair view of the stsle ol the charily's affairs as al 31GI March 2024, and of its incoming
resource5 and application of resources, including ils income and expendlture, for the year then ended.,
have been properly prepared in accordance with United Kingdom Generally Accepted Ac¢ounling
Practice., and
have been prepared In accordance with the requlremenls of the Charllies Act 2011, the Houslng and
Regeneration Acl 2008 and the Accountlng Dlreclion for private registered providers of soclal housing In
England 2022.
Basls for opinlon
We ¢onducled our audit In accordance with Inlernalional Standards on Auditing (UK) IISAS (UK)) and
applicable law. Our responsibilities under those standards are further described in the Audllorfs
responsibilities for the audit of the flnanc,ial statements section of our report. We are independent ol the
association Sn accordance w51h the elhlcal requirements that are relevant to our audit of the financlal
statements In the UK, including the FRC'S Ethical Standard, and we have fulfilled our olheT ethical
responsibilities in accordance with these requirements. We believe that the audit evidence we have
obtained is sufficient and approprlale lo provide a basis for our opinion.
Con¢lu$lons relatlng to golng concgrn
In auditing the financlal statements, we have concluded that the board's use of going concem basis of
accounllng In the preparation of the financlal sttaemenls is appropriate.
Based on the work we have preformed, we have not identified any material uncertainlles relating lo events
or conditions that, indivldually or collectively, may c8sr signthi¢ant doubt on the associallon's ability to
continue as a going concern for a period of al least twelve months from when the financial slalements are
aulhorised for issue.
Our responsibilities and the responsibilities of the board with respect lo going concern are des¢Tibed in the
relevant se¢lions of thls report.
Other Inform4tlon
The Board Is responsible fDr the other information. The other Information comprises the infomialion Included
In the annual report, other than the financial statements and our auditor's report thereon. Our opinion on the
financial slalemenls does not cover the other information and, except lo the exlenl othe￿iSe explicitly slated
in our report. we do not express any form of assurance conclusion Ihereon.

STANLEY & BROCKLEHURST ALMSHOUSES
FINANCIAL STATEMENTS FOR THE YEAR ENDCD 31 MARCH 2024
INDEPENDENT AUDITOR'S REPORT
In connecllon with our audit of the financial statements. our responsibility is to Tead the other information
and, in doing so. consiijer whether the other informatlon is materially inconsistent with the financial
slalemenls or our knowledge obtained in the audit or otherwise appears lo be materially misslaled. If we
Iden*ity such material ￿nConsIstenc1es or apparent material misslatemenls, we are required to determine
whether there is a material misslalement in the financial statements or 8 material misslalement of the other
information. If, based on the work we have performed, we conclude th81 there is 8 material mlsstatemenl of
this other Infomialion, we are requlred lo report that fact. We have nothing to report in this regard.
Matters on whlch we are required to raport by exception
We have nothing to report in respect of the following mallers where the Charities Act 2011 requires us to
Teptsrt lo you if. in our opinion..
the information glven in the Board Report is inconsistent in any maler581 respect with the flnancial
slalemenls., or
sufficient accounting record5 have not been kept., or
the financlal slalements are not Sn agreement the acGountlng records and returns; or
we have not received all the information and explanallons we require for our audit.
In addillon, we have nothing to report In respect of the followSng matter where the Housing and Regeneration
Act 2008 requires u5 to report to you if, in our opinion..
a satisfactory system of control over IransaclFons has not been rnainlained.
Re$ponslbllltlg8 of tho Board
As explalned more fully in the Board's rosponsibilllles statement set out on page 5. the Board members
(who are also the Trustees of the charity for the purpose5 of charity lawl are responsible for the preparation
of the financial statements and for being satisfied that they give a true and fair view, and for such inlemal
control as the Board determine 15 necessary lo enable the preparation of financial statements that are free
from material misslalement, whether due to fraud or error.
In preparfng the financial slalemenls, the Board is responsible for assessing the association's abllity to
continue as a going concern, disclosing. as applicable, matters related lo going concern and using the going
concern basis of 8ecDunling unles5 the Board either intends to liquidate the association or lo cease
operations. or has no realistic allernatlve bul lo do so.
AuditOT'S rèsponslbllltles for thfr audlt of the finan¢lal statements
Qur objectives are to obtain reasonable assurance about whether the flnancial statements as a whole are
free from material misststement, whether due lo fraud or error, and to issue an auditor's report that includes
our opinion. Reasonable 8ssurance is a high level of assurance. but is not a guarantee that an audll
conducted in accordance wth ISAS IUKI wll always detect a material misslalemenl when il exislg.
Misslalements can arise from fraud or error and are Considered material il, individually or in the aggregate,
they could reasonably be expected lo influence the economic decisions of users taken on the basis of these
rinancial slalemenls.

STANLEY & BROCKLEHURST ALMSHOUSES
FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024
INDEPENDENT AUDITOR'S REPORT
The obleclives of our audit, in respect lo Iraud, are.. lo identify and assess the risks of material misslalemenl
of the financial statements due lo fraud,. to obtain sufficient appropriate audit evidence regarding the
assessed risks ol rnalerial rnisslalemenl due to fraud, through designing and implementing approprlale
responses,, and lo respond appropriately lo fraud or suspected fraud identified during the audit. However,
the primary responsibility for the prevention and detection of fraud rests with both those charged with
governance of the enlily and managemenL
Our approach was as follows..
We obtained an understsnding of the legal and regulatory frameworks that are applicable lo the Charity and
delemiined th81 the m08t significant are the char51￿$ Act 2011, and Housing and Regeneration Act 2008.
We understood how Stanley & Brocklehursl Almshouses is complying wlth those frameworks by maklng
inquirles of management responsible for Charity leglslalion and certification procedure8.
We corroborated our enquiries through discussion with the Trustees and revlewing minutes of Iruslees
meellngs to identify any non-compliance with laws and regulations.
We assessed the sus¢eplibilily of the Charity's financial statements lo malerlal misslatemenl. In¢luding how
fraud might occur by discussion with Iruslees lo understand where ils considered there was a suscepllbility
lo fraud. We considered the controls that the Charity ha5 established to address risks identified, or that
otherwise prevent, deter and delecl fraud.
To address tho risk of fraud through management bia5 and override of controls, we performed analytical
procedures lo identify and unusual or unexpected relationships., investigated the rationale behind 5ignilicanl
or unusual Iransaclions,. and tested jOLtrnal entries to Identify unusual Iransacllons.
There are inherent limitallons In our audit procedures degcribed above. The rnore removed that laws and
regul3lion5 are from financial transactions, the less Ilkely il is that we would become aware ol non
compliance. Auditing standards also limit the audit procedures required lo identify non-compliance with laws
and regulations enquiry of the Iruslees and other management and inspection of regulatory and legal
correspondence. if any. Material misslalemenl that arises due lo fraud can be harder lo delecl than Ihoge
that arise from error as they may involve deliberate concealment or collusion.
Based on this understanding we designed OUT audit procedures to identify non-compllance with such laws
and regulations Ihal could materia11y impact the financial slalemenls. Taklng into accoun15 our
understanding of the Charity, our procedures Involved enquires of management and focussed lesling as
appropriate with consideration lo risk assessment.
A further description of our responslbililies for the audit of the financlal statements is located on the Financial
Reporting Council's website al.. www.frc.or
.ukJaudilorsres
ons1bilities. Thls description forms part of our
audilorfs report.

STANLEY & BROCKLEHURST ALMSHOUSES
FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024
INDEPENDENT AUDITOR'S REPORT
Use of our report
This report is made solely lo the assoclalion'8 Board, as a body, in accordance wllh Part 4 of the char￿leS
{Accounls and Reports) Regulalir)ns 2008 and section 137 of the Housing and Regeneration Act 2008. Our
audit work has been undertaken so that we might slate lo the association's Board those matters we are
required lo stalè to them in an auditor's report and for no other purpose. To the fullest extent permitted by
law, we do not accept or assume responsibility to anyone other than the assoclalion and the assoclalion's
Board as a body. for our audit work, for this report, or for the opinions we have formed.
Melissa Bowers FCCA
For and on behalf of Harts Llmiled
Chartered Accountants and Slalulory Auditors
We51mlnster House
10 Weslminsler Rd
Macclesfield
Cheshire
SK10 1BX
Dated '.

STANLEY & BROCKLEHURST ALMSHOUSES
FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024
STATEMENT OF COMPREHENSIVE INCOME {In¢ludlng Income and Expendlture Account}
2024
2023
Conlnulng
0￿rAt￿n5
TOTAL
Conlnuln
Op•ratlons
TOTAL
Not•
Turnover
51,670
58.823
Administrative expenditure
1119,427)
149,161)
Operatlng surplus I Idoflcitl
67.757
9,662
Interest receivable and similar income
Interest payable and similar charges
Movement in fair value of financial instruments
13.111
4,964
12,522}
1131
12
Surplus I Ideficltl on ordinary actlvltiès for the year beforo tax
154,634)
12.091
Tax on surplus l (deficill on ordinary acllvlties
Surplu8 1 Idoficltl for tho year aftsr tsx
154,634
12,091
Total comprohènslve In¢ome for the year
54.634
12.091
Dated '.
Slgned on behalf f the Board of Trustees
Cllr. Mr. N.P. Mannion. Chalr of Trustees
Mrs. D. 8enlley Smith, Trustee
10

STANLEY & BROCKLEHURST ALMSHOUSES
FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024
STATEMENT OF FINANCIAL POSITION
2024
2023
Flx•d assets
Tangible fixed assets
Improvements to property
565.000
17.005
565.000
22,487
582,005
587,487
Current 4s8ots
Current asset investments
Debtors
Cash al bank and in hand
665
1,863
317,533
653
2.904
365,256
320,061
368,813
Credltors: amounts falllng due wlthln one year
10
14.1811
13,7811
Net eurrgnt assets I Illabllltlg51
315.880
365,032
Total assots less current Ilabllltles
897,885
952.519
Total net assets I Illabllltlasl
897.885
952,519
Reserves
Income and expenditure reserve
EndoTMnent reseNe
12
12
678,378
219,507
733.012
219.507
Total Reserves
897.885
952,519
The financlal statements were approved and aulh0ri5ed for Issue by the Board of Trustees on
Dated . ..%..i.{o'.y. | 2.4............
Signed on behalf of the Board of Trustees
Cllr. Mr. N. P. Mannion. Chair of Trustees
Mrs. D. Bentley Smith, Trustee
The notes on pages 12 to 18 form part of these accounts.
11

STANLEY & BROCKLEHURST ALMSHOUSES
FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024
NOTES TO THE FINANCIAL STATEMENTS
Summary of $lgnlficant accounting pollcles
lal Ggnèral informallon and basls of preparatlon
Stanley & Brocklehur81 Almshouses is a Registered ChaTily {2236911 and 8 private Registered
Provider of Social Housing IA39111 in the United Kingdom. The address of the registered offlce is
given in the RP information on page 2 of these financial slalemenls. The nature of the RP'S
operations and principal activities are that of an Almshouse Charity providing accommodation for poor
single people or married couples ol age 55 years or over ¥Mlhin the bortsugh of Macclesfield and the
Pari8hes of Adlinglon. Bollington, Henbury, Hurdsfield, Preslbury and Sullon.
The RP conslitules a public benefit entity as defined by FRS 102.
The financial statements have been prepared In accordance with applicable accounting standards
includlng Financial Reporting Standard 102 Ihe Financial Reporting Sland8rd AppI￿able in Ilje UK and
R&public of Ireland IFRS 1021, the Statement ol Recommended Practice for Social Housing Providers
2018 and with the Acctsunling Direction for private registered provitlers of social housing in England
2022. The financial slalemenls are also prepared under the requirements of the Housing and
Regeneration Act 2008. The financial statements have been prepared on a going concern basi5 unde¥
the historical cost conventlon, modified lo include certain items al falr value. The financial statements
are prepared in sterfing, whlch is the functional currency of the RP, and Tounded to the nearest pound.
The significant accounting poli¢ies applied in the preparation of these financlal statements are set out
below. These policies have been con81slently applled to all years presented unless olhernlse slated.
{b) Tanglble flxod assets
Tangible fixed assets Ilncluding soclal housing properties) are stated al cost lor deemed costl or
valuation less a¢cumulaled depreciation and accumulated impairment losses. Cost includes costs
directly attributable to making the asset Capable of operating as intended such as the c05t ol acquiring
land and buildings. developmenlg costs, intere51 charges on loans during the development period and
expenditure on improvements. Expenditure on improvements will only be capilalised when il results in
ncremenlal lulure benelils such as increasing rental income, reducing maintenance costs or resulting
in a signiflc8nt extension of the useful economic life of the property.
Oepreclation is provided on all tangible fixed assets, al rates calculated to write off the cost, le8S
estimated residual value, of each asset on a syslemalic basis over ils expected useful life as follows..
Housing properties, houses
Improvements to property
10% on cost
Major components of housing properties, such a8 propeTty Improvements and heating systern$, have
been acctsunted for and depreciated separately from the connected housing property, over Ih8lr
expected useful economic live5 and are included in property. plant and equipmgnl
The useful economic lives of all tangible fixed assets are reviewed annually.
12

STANLEY & BROCKLEHURST ALMSHOUSES
FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024
NOTES TO THE FINANCIAL STATEMENT
Icl Debtors and creditors r&cgivable I payablè wlthln one year
Debtors and creditors ￿th no staled interest rate and receivable or payable within one year are
recorded at transaction price. Any losses arising from impairment are recognised in the statement of
comprehensive income in other adminislralive expenses.
Rights of social landlords lo have improvement works carried out lo properties by 8 Ihlrd party (such
as a local aulhorityl are recognised as prepayments where payment has occurred In advance of the
works being carried out and receipts In advance from the Same third party recognlsed as Ilabilities.
Assets and liabilities or income and expenditure are not offset.
{dl Current a8Sg1 Investments
Investmen15 are recognised initially al lair value which is normally the transaction price excluding
transaction costs.
Subsequently. they are measured al fair value through the slalement of
comprehensive income if the shares are publicly traded or their fair value can olhetwise be measured
reliably. Other investments are MeaSu￿d 81 c051 less impaiTmenl.
(el Loans and borrowlng$
Loans and borrowings are initially rewgnised at the Iransoclion price including transaction costs.
Subsequently, they are measured al amortised cost uslng the effective interest rate method, less
impalment. If an arrangement constilules a financlng Iransa¢tlon il is measured al present value.
In Turnovgr and other Income
TurnoveT Tepresenls rental and setvice charg6s income receivable in the year nel of rent and service
charge losses from voids
Prop8rty M8n8g8d by Agents
Where the RP carries the financSal risk on property managed by agents, all the income and
expenditure ari51ng from the property is Included in the slalement of comprehensive Income.
Vvhere the agency carries the financlal risk, the ststemenl of comprehensive income includes only that
income and expendlture which relate5 solely lo the RP.
Interest and divldends receivablg
Intere81 income 18 recognised using the effective Interest method and divldend Incomels recognised
as the RP'S rfght lo recelve payment is establlshed.
Igl Endowment Reserves
EndowTnenl reserves are those reserves whlch are only expendable in accordance ￿￿th the wlshes of
the funder or re9ulalory body. Endowment funds represent Ihose assets which musl be held
permanently, revenue and expenditure cani)ot be directly set against endowment reserves but is
taken through the statement of comprehenslve Income and then a trarlsfer lo endowment reserves is
made as appropriate.
13

STANLEY & BROCKLEHURST ALMSHOUSES
FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024
NOTES TO THE FINANCIAL STATEMENTS
2 Partlcular8 of turnover and admlnlstrallvo expendlturo from $oclal houslng 1gttlng8
2024
2023
Total
Total
Tumover
Rent re¢elvable net of Identifiable Service Gharges
51,670
58,823
Turnover from social houslng lettlngs
51,670
Admlnlstratlye gxpenditurg
Manager's remuneration
Routine maintenance
Garden upkeep
Electricity
Insurance
Auditors fee
Professional fee8
Subscriptions
Print post aiid statlonery
Rates
Bad debts
Depreciation of property improvements
7,020
95.333
2,245
2.418
1,841
2.448
1,962
6.500
19,550
1.998
248
1,596
2,586
195
579
208
219
10,000
5,482
32
5,482
Admlnlslrative #xpgndlture On $oclal hou$lng lettings
119.427
49,181
Operatlng surplus I Idoficit) on so¢lal houslng lettlngs
167.7571
9,662
Void losses
11.661
14

STANLEY & BROCKLEHURST ALMSHOUSES
FINANCIAL STATFMENTS FOR THE YEAR ENDED 31 MARCH 2024
NOTES TO THE FINANCIAL STATEMENTS
Ac¢ommodatlon own8d
Numborof
units at
1. Aprll
2023
Numbor of
unlts at
3181 March
2024
Completed units..
Housing for older people
12
12
Proportles managed by agants
None of the properties owned by the RP are Managed by agents.
Interest and othèr flnance Income and charges
al Interest receivable and slmilaT income
2024
2023
Bank interest receivable
13.111
4,964
bl Intere51 payable and slmilar charges
2024
2023
Bank loans and overdrafts
2.522
Surplus I Ideflcltl on ordinary actlvltles
Surplus I Ideficitl on ordlnary aclivllles is slated after charging I Icredllingl..
2024
2023
Auditor's remuneration
Depreclalion of langlble fixed assets
2,448
5,482
2,586
5,482
7,930
6.068
Board of Trustees remungratlon
The lolal remunerallon for the Board of Trustees amounted lo £ nil12023 - £ nil).
The remunerallon figure of £7,02012023- £6,500) is in respect of the Manager, Ms. F. Wilson who
has been employed on a part time basis since October 2016.
15

STANLEY & BROCKLEHURST ALMSFIOUSES
FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024
NOTES TO THE FINANCIAL STATEMENTS
Tanglble flxed assets- houslng prop•rtles
Houslng
propert1&8
for leltlng
Prop8trty
Improvem8nts
Total
Cost-.
At 1st Aprll 2023
Additions
565,000
54,816
619.816
At 31$1 March 2024
Depreciation..
Al 1s1 April 2023
Charge for year
565.000
54.816
619816
32.329
32,329
Al 31st March 2024
Net book value..
Al 315I March 2024
585 000
17,005
582 005
Al 31st March 2023
565.000
22,487
587.487
The Stanley and Brocklehurst Almshouses al 1 12 Stanley and Brocklehurst Court, King Edward
Road were constructed circa 1889 and 1927 and there is no record of the original cost and no value 15
allrlbuled Iherelo. The housing properties are included ln the finanaal 8lalemenls at a market
valuallon of £565,000 following a Pfolessional valuation on 10 July 1995.
The Charilles SORP IFRS1021 stsles that a lan9ible fixed asset musl be depreciated over ils useful
economic life. The Charity should choose a depreciation method which refiecls the use of the asset
and the expected 11mSng or consumption of ils economic benefits. This resldual value of the properties
has been considered and not deemed to be lower than cost, as such no depreciation has been
applied. Depreciation Is provided on property Improvements al a slralghl line rale of 10% on cost. This
is in ac¢ordance ¥Mth FRS102, a charity may choose to adopt an accounting policy of revaluation bul
if il does so then all assets in that class musl be revalued.
The net book value of land and buildings comprised=
2024
2023
Land 8nd buildings..
Freehold
582,005
587,487
16

STANLEY & BROCKLEHURST ALMSHOUSES
FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024
NOTES TO THE FINANCIAL STATEMENTS
Currant asset Investments
2024
2023
Other Investments- NAACIF Accumulation Uni15
665
653
NAACIF Accumulation Units are measured at thelr falr value al the balance sheet date.
Dgbtors: amounts falllng due wlthln one year
2024
2023
Trade debtors
Prepayments
1.080
783
2.022
882
1,863
2,904
10 Credltors.. amounts falllng duo wlthln one year
2024
2023
Rents received in advance
Accruals and defer¥ed inGome
1.733
2.448
1,333
2,448
11
Conllngent liabllltlo$
As at the 31st March 2024 there were no contingent liabililtes.
17

STANLEY & BROCKLEHURST ALMSHOUSES
FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024
NOTES TO THE FINANCIAL STATEMENTS
12 Roserves
2024
2023
Income & expenditure reserve brought fO￿ard
Enijowmenl reserve brought forward
733.012
219.507
720,921
219,507
Balance bTOUghl fotward
952 519
940.428
Income and expenditure surplus I Ideficill al year end
154,634)
12,091
Total reserves carried forward
897.885
952,519
Shown as
2024
2023
Income and expend￿Ure reserve lunreslriGled reserve)
Endowment reserve Ireslricled reserve}
678,378
219,507
733.012
219,507
Balance carried fomard
897 885
952519
13 Averag& number of omployees
The average number of employees during the year was 112023 ', 11, MS F W'lson the Trust Manager
has been employed on a part time basis since October 2016. The 4 TTuslee812023 .' 41 are not
remunerated for thelr services lo the Trust.
14 Rglated party transactions
The Fence Trust shares the same Board of Trustees as the Stanley & Brocklehursl Alm$hou5es.
The Fence Trust al80 shares the same Manager as Stanley & Bro¢klehur8t Almshouseg, Ms F Wilson
is remunerated by Stanley & Bro¢klehursl Almshouse5 01 whi¢h 50% is ro¢harged lo the Fence Trust.
Over the course of the year £7,020 was received from The Fence Trust in respect of Ms F Wilson's
salary, there is no balanoe oulstsnding in respect of salaries at the yeaT end of 31 March 2024 {2023 -
£ nil}.
Sundry repairs and office items were on occaslon purchased on behalf of the Trust by the Trustees
and the Trust Manager.The lolal amount of such expenses amounted lo £471 (2023 .' £1251.
15 Post balancg sheet &vgnts
The board of Iruslees have confimed that there are no slgnificanl post balance sheet events.
18