Charlty rgg15tratlon numbor 223907 (England and Walès) BEVERLEY CONSOLIDATED CHARITY ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 BEVERLEY CONSOLIDATED CHARITY LEGALAND ADMINISTrATIVE INFORMATION Trusteos B8verf8y HousirMJ Trustse ￿Mited Senlor management P Brcrf)ke (Chairl R Mi18S S Badey M Craughan Pprts EAird WJAdey Ir8tir8d 31.03.25) (retir￿1 31.03.25) JDa K Hursl lapp)Inted 01.03.24) A Barber K Conner Chief Execufive Officer Business Manager Charty number 223907 Audltor FInnieSA￿Dtsnts Limi￿ 44 Swaby's Yard IkerTJate Bevedey East Ycrfkshire United Kingd¢Jn HU17 9BZ BEVERLEY CONSOLIDATED CHARITY CONTENTS Pag ChaiM￿n,8 8tat8mwrt Chlef Executfve's reFQrt Truslea8' report 4-10 Statement of tnJstees' respcnsit)ikties Independent auditols repL¥t statement of financial athiles 14-15 Balance sheet 17 statement of cash flow8 Notes lo the financial statements 18-30 BEVERLEY CONSOLIDATED CHARITY CHAIRMAN'S STATEMENT FOR THE YEAR ENDED 31 MARCH 2025 Having been v()ted in as Chair in the new finarKlat year. I would fike to begin by u￿nkI￿j Rlchard Mllfrs (Outgolng Chalrl for hls dedlcaOon and leèJership through(¥Jt the modemlsatton of this wondethl AITnshous8 Charity. Rlchard'8 professlonallsm and compasslon have left the Organisatic￿ in a slrorv4 position, one that l and the Board are committed lo building upon for the b￿fil of our ￿rrent and fu￿re wdents. Having served as a trustee for the past years, I have teen part of ￿al we believe Is a plvotsl peri¢￿ in our history one that wll hav8 lasting impact for those we are here to supporL During this tome, thè Board has made gnrficant Strategic ￿e￿w0n¥ on both organlsationa slru¢ture and the devdcs)menl of rwi homes and 8eNices, all aligned to our mlssion of helping older people to fve well in our communtty. As Chair. my focug ￿11 b8 to ensure that every voice 18 heard- from re8ident8 to truste8s and staff - and that our govemance remalns robust but lean. al1¢Y￿n9 m8etlng8 to focxts on key Issues and doci8ions thal make the grèatest differertce to our residents. Th8 last y8&r has seen major progress in several areas. I parliculaty ￿eaSed by the advances made on our rgmodelllng and developmènt pr4e¢ts at Charlès Wart￿. BEDE Homes, Ann Routh. and Ra1￿Y Street. These initiatives, representing signrficant investment by the chadty and. we hope. partnèrs such as Homes England, will further enhance the qualty and accessibilty of hL¥nes. We remaln fully commttted to providing affordable Almshous05, W￿u￿ng Ihat the ¢harWs resourcès - includlng more than £1.3 mllllon of Investsnenl Iwond In¢omg over the last three ye8rs - are used prudenlly and wlth lasllng bènefft. I would like to thank Andrew BartRr, our Chlef Ex8cuil¥e. and his dedicated team for their continued profe$sionali8m and care. Their work has strengtt)ened the ehafft*8 reach. modernlsed our operations, and fiJrther embedded tho wam. re$ldent-centred CLthre V•* are known ￿. Finally, my thanks go lo all trustees> partnets, and reskleftts who have c¢￿tributed to our succe88. Wlh optimism and momentum, we mave into the 2025126 financa& year ready to build on these strong ￿ndatIC￿S and continue our mission of ènabling old& pe¢)Pte to &ye wen here in East yti￿re. The Beverfey Housing Charity Trust8e Limiled is th8 0ffi(ial tille of the c￿p￿ale tnjstee and as such for re￿￿ng trom the 2024125 financial year we wll te known as Diredors wthin this report not trustees. Al this Ume, the TNst89s 81so look Ihe opportunity to create clarity on our area of delNery within our charity schane. movlng from Beverfey and named parishes to the East Riding of Yorkshire. and the corporate trustee were confimed and 8e8led ￿th the Charity Commissicn in December 2023 enot4ing us to recruit four people to board fomially in early 2024. All of the atr*)v8 $88s us make considerable and purposefvl strides towards our wsv)n of creatlng a cOnn￿led Beverfey thNng in later lrfe. P Brooke Chalrman Dale: 12 December2025 BEVERLEY CONSOLIDATED CHARITY CHIEF EXECUTIVE'S REPORT FOR THE YEAR ENDED 31 MARCH 2025 Over the past year, our charity has c0ntknU￿ to extend ils reach across Beverfey and the 8urroundro areas, through houslng, community engagement aNI partnerships- dl In wrsuit of our mission to improve the qualty of Ilfe for people over 8ixty In our communtty. While our AMsh￿se5 remain at the heart of work. 'relief in need, inibatNe8 wnlinu8 to expand, brfnglng practiGal benell not only to wr re8kJents but to okler p8cW8 thrwlKJUt th8 ragk)n. Morton Hourng and Communlty Partnotshlps The opeting of Morton H￿se marked a major step fornY8rd in our strategK r4an. The ￿lIdIng has quKkly b8come vibrant community hub, nowwelcomlng more than Iwo hundred people &gch monlh. Parts)ers such as Age UK, MIND. u3a, Wl, East Riding Thèatre, and MASH make regular use of th8 fa(aliti8s-a clear d8monstrallc)n of our values in actlon and tha Impact of partnership worting. Resldgnts and Involvèmènt The R&sldenls' Commlttee contlnues to ￿ from slrength to strength. wrth Twesenlation from most of our sites. The committee has been Instrumentsl In reviewiw services and shaping new Initiatives, including the development of future volunteerthg cowrtunitles both Imthin the charity WKI the wKl8r c£4nmunity. Team and Oryanlsatlonal Development Our 81aff team has completed all m8ndatory training arKI continues to pursu8 rmfessianal development opportunllles. Members of the senior leadership team will shorty begin the Level 5 DiFAoma in Housing, supporting SUCCé88ion planning and the next stage of organisati￿1 grolth. Flnanclal Perforniance and Grovrth Durfng the year, we made a strategic investrnent in expandiry cur mantenarKe team, reducing relianct on ex1emal contractors and improving resrmse times for resid8nts. This charge has irKreased Salary ￿t8 but reduced overall maintenarKe expenditure. w&re dellghted to 8ecure our flr8t grant from Homes England to SUPPOrt r8mod811ing wlthin our Amshouse estate, and to recdve a fiv&year local fundlrvj award supportirvJ Ageing Wdl programme. which wll see Age UK rètum to Morton House to ddiver infumalion aThJ advice seMce8. W8 also coM￿eted the pU￿hase of two ￿tal prybe8 during the year. Strengthening our asset baso and providiry mueh-needed affordable houslng bcal]y. Governance and Leadershlp Al Year-e￿I, we said farewell to Richard Miles and Sue Barley, who have both grven outstanding Serv￿ as Chair and VI￿ Chair respectively. Th￿r lead￿Ship thrrAJgh a period of modemisatirm has prO￿ded a strong foundati for our continued gr￿. Ilst 8ad to see Dlrnctor's leave. it brings foryRrd the opportunity kn new en9rgy, skills and insight. In the year we welcomed Paul Brwke as Chair, whose ￿nstruction, exper￿(¥ ￿ commilmenl will guide the next phase of our work which will have a strong f(Kxs on growth. l am immensely proud ofwhat our team, trustees, and residents have aCh￿ve￿ together. The progress of the past Ihree years is r￿W clearty vt5ible- In our homes. our services. and. most Importandy. in the improved Ilves of tho A, Barb Chlèf Executlv• Offlcer Date: 12 Dètt8mb8r 2025 BEVERLEY CONSOLIDATED CHARITY STATEMENT OF TRUSTEES. RESPONSIBILITIES FOR THE YEAR ENDED 31 MARCH 2025 Charity law wuire8 the trustees to prepare stalemerts of acc£rfJnt fc* each fin￿la1 year in accordance wrth applicable law and United Klngdom Generalty ALcounting Pr8clice (UK GAAPI. In preparing those financlal statements, the tntslees are requtred to: - select suilaÈ4e accounting pc4ide8 and thom c(Thistenty, - observe th8 m&tho(ts ond prlncipals in the relevant Charityes SORP - make judgements arKI estimate5 thal are roasonable a￿1 stale whether ap￿1¢able UK amnting standard5 have been I￿loWed subJ&t to any materfal departure8 (Jlsclosed and explained in the financial statements" - prepare the firwncial 8t*menls on the goin9 basis unths It Is Inapproprlate to presuTh that th8 charlty 11 continue in oparation., The trusiee8 are responsit4e for keeFing Fryer ￿C4)Unting rerA>rd5 ￿lch are Sulficlenl io show and explaln the tharity's transactlons and to dlsdose with reasonable accur￿ at any b.me the financial position of the Charity, and lo enable them to ensure that any statements of accoLmt compty wllh the requlrements of the Charftle8 Acl 2011, th8 Charity (Accounts and Reports) Regulations 2008 and the Statement of Recommended Practice {SORPI' A¢counllng and Reporbng by Charilles preparlng accounts in aLtordance wilh the Financial Reporting Standard appllcable In th& UK and RewtAlc of Iretand IFRS 102) leffecuve 1 January 20191. They are also reswnsible foT safeguarding the a88ets of the charity and hen￿ ft* tsking reasona￿e steps for the Pr￿en￿￿ and deteCt￿n ol fraud and other Irregularilie8. The law apF41cable trj thartbes in &￿land and ￿tsIes r4uires Ihe t￿￿tee$ to PW8Je finandal statements for each fjnancial year which glve a true and fair view of ts state of affalrs of the charfty and of the Incoming resources and application of res0W￿ oflhe d￿rity10r that year. In prep8ring these financial statements, the trustees ar8 required to: - select suitable accounting poliaes and then a￿Y Co￿Ster￿, - obserye the methods and principles in the Charities SORP,. - make judgements and estimates that are reaSona￿e arKJ pwdent - slate Wheth￿ applieAbk acc(A￿ting stand8rd$ have been fdlowad. subject to any materfal departures disdosed and explained in the financial slatemenls,. arKI - prepare the financial statements on the WAng corKern basis un￿sS li 18 i￿app￿priate to wesumè thal the charfty 11 continue In operation. The trustees are responsible for keeFNng sufficient accounting rec(Yds that disdose with reasonable accuracy at any tim0 the financial posibon of the (*arity and enabb them to enswe that Ihe financial statements comply ￿(h the Chariti85 Aci 2011, th& Charity (Accwnts ond Reports) Regulations 2008 and the provisions of the trust deed. They are also responsit4e for safeguarding the assets of Ihe Gharity and hence for taking reasonabl8 Steps for the pr8v2ntion and detection of fraL￿ and other irregularities. BEVERLEY CONSOLIDATED CHARITY TRUSTEES. REPORT FOR THE YEAR ENDED 31 MARCH 2025 The tru8te88 present thelr annul rewrt arKI flnand81 statements for the year eThJ&J 31 March 2025. The finan¢ial statements have been prep¥ed in attordarKe wrth the accountlng rolldes set out In note 1 to the financlal statements and compty with tre charitys g0vem￿￿ (Sxumen( the Charitles Act 2011, FRS 102 "The F￿anCIal Reportlng Standard appliCa￿e in the UK and Republic of I[plar￿. and the Charities SORP "knunting and Reporung by Ch￿tIes.. Stslement of Re¢ommerKled Pracyce appllcable to charities prepa￿n￿ their accounts in accordance wth the Financ1￿ Reporting Standard applirable in ￿ UK and RepU￿1C of Ireland (FRS 1 tY21" Obloctl￿ and athvl¥ mshou8es fomi part of a collectNe houslrKJ offer in Beverley. Beverley Consc41dated Is an Independent charty, not 8 reglstered provider, as such we havè our ¢Jtteria ￿lch are alwJned to ￿r charitable ¢x)nstitutlon and revlthv*J annually by our Board of Tfustees. The core crtteri8 for ourAmshou8e properties. apF4icants need to me81 ts fc41owiw uilerfa.. Be aged 60 and over . Have1Sved in Beverley aThJ the surrourdng area for at least 10 years at somo P￿nt In thelr lives . Not own their prcyerty in the UK or abroad . Be In financial, 8CQ81, or h￿sir￿ need'definlliorts 'Flnanci81 need.. ￿ as8e88 c#Jrrent income levels and savings., wority is gÈven to thosg deemed to hpve the greatest need. -social or housing need.. We wiH assess any current addib(Thl may skni that an applicant's n88d . greater due to circumstances beyond thelr Immediate contr Although il is open to the INstees to app)int any persons n88d AJmshou8es due to their age and if they have Iwed wthin our focus area for more than 10 years. If the applicarfs rtsourGe$ s￿ in a pogibon that mèans thBr& are other forms of accommodation in fv Icdity Iwhth they can afford, arKI vknich wll meet their needs}1158 our current poliGy that they wll not be WKJritised for anAmshouse. ere there is a medical need the Trustees have agreed on many WLa8i¢Jn$ to move resmlents from o Almshouse to another i.e., ￿qUiring singl&lToor accommodation. Considerabte effort and cost have been 81ign8d th pro￿ding the right home, at the right time of life ￿ our residents. We work closety wlth trTr8 adaptation teams in the area, and other Iccal charitles to ensure residents are maxmising resour￿ avallable to help them to IIv8 Th)t e￿$t. Key oblgctlvos for 2024125 werg: Mature our residents committee, IxÈnging Ihrwgh the4r vix¢e In strateglc a8 well as operatlonal ded81on8. . To support our Gommunity 1speofica1￿ ttK)56 supporbrYJ over sixlle8) to benefit from the 4)ace at Morton House. To secur8 support from Homes EngL8nd and exrdore other gr8nt Opp￿nitIeS. . To embed an IrbhtyJ8e maintenance service. Com￿l￿ented by our key contraclors. To achieve a 3% mlnimLHM yidd on our managed por￿￿10. To mainlaln a mlnlmum net Income of 3.5% from our investment proFwbes. BEVERLEY CONSOLIDATED CHARITY TRUSTEES, REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Publlc bgngflt: The Charity now owrs 138 almshou888 arKI 25 rented pyoperties, Ih888 are all *ilhin th8 Bev8rfey boundari85. wlfh the bulk Of the propertles wtthin a few minutes. walk from all the town amenities and transport15n￿. Wo now house more than 150 residents, wth the average age of our resklents currentty 78 years yourMJ. Oijr support saves our residents cdlectivdy more than £300k per year vs. current market rents. I￿lUded in our average manlenance fea of £480.00 per month is an excellent respJn¥e Servi￿ indL*Jing at ￿ push of a buEton a lifeli￿ seM¢e, malnlenance ￿)rkS and in many cases gardening. Our re81der)ts reguiady hlghllght to us that safety and securtty of liwng with us make a sigiificanl difference It) their da6￿ lives. Not having to have oincems aLK)ul fraud, rcgue tsaders or shorthold tsnancy agreements, a8 interest rate8 rise. and prlvate landlord8 e￿t the market. In the last year, we have also wovMYed Support to resldents struggllng lo communlcate wth thelr energy companles as Lllls rlse and smart meters are implemented. AS anAlmshou8e chaty we endeavour to budd communllies not Just home8. In provkllng a gardenlng and wellb8lng servlce8, we connect Mth re8idell18 N%Eekly. 8eeNg theTn vthi18t wotking their gardens when they are beginning to struggle and may need further 8UPWrt from oursdve8 or parbw organlsatlDn8. Wè again inc￿a$ed our networknng wlth voluntary and communlty sector organlsatlons to ￿ble us to make a greater number of pos61ive referrals for our ieskients and their family members. This has helpwj many residents rewEw and increase financlal 8UPPOrt from 8ource8 such as attendance allowance. b8118v8 and work to contlnuous improvement In our hom8s, advamng the quallty standari18 of the key aspects that make a house a home. make every effort lo improve energy effIc￿ncY, carying out U￿radeS that make a difference to the ￿￿dOnts and 8180 Improvo our EPC raling5 across our 8State. Our coll￿tiVe Mew 15 afftKdabilty ShO￿d not c￿P￿lSe quality. The trustees hav8 paid du8 rojard to guklarKe i8sued ty the Charity Commlsslon in dèddlng bthal 8dvitie8 the charity should undertake. The Full board deiegates re8Frf)nslbilty to 8pprowate &)mmtitees to ensure pace inThdepth knowle(kJe of decisions in the area8 Df Housing. Development and FInar￿. In the year. a strategic t¥get was to formally appoint new members to thls structure arbj establish key priorit￿S In each area of wor Our full board continues to meet a minimum of fcMJrtwne8 in the year a8 planned. wth each committee meetiTrJ a minimum of three times on C￿ acliwty, and meeting when requlred on urgent matters. Committee members by the end of 2024r25 Year Tr. Miles (Chair) ha8 a standing invlt8to all me&Uros. Finance.. M. Craughan, E. ￿rd, N. Attey Housiro: K. Hurst, J. Dalion, S. Barfey, P. P(Yter {retir&J 31.03251 . Develcyment: P. Broc4(e, A 8(A¥e8, M. Craughan. N. Aoey . Re81dents committee.. S. Barky and P. P)ard meetings are mlnuted and ￿tion I￿ retaine(I to ensure that declslons of the appointed committees are posltively held to a¢￿urtt. ￿SUn[￿J progresslon of pnoritsed matters fmm each full bDard meeting. Afflllatlons. The Ch8rlty is a member of the Almshouse Asso¢iakn. arKI M￿bers of the tharity are also Trustees of the AJm8hou8e Con80rtlum. BEVERLEY CONSOLIDATED CHARITY TRUSTEES, REPORT (coKfiNUED) FOR THE YEAR ENDED 31 MARCH 2025 Flnanclal rgvlgw The Statement of Flnanclal Actlvlites for the year 31 March 2025 a net 8urF4u8 of £30,667. Total Income for the yearwa8 £1,258,995. ￿th total 8xperKlitur8 of £1.399,746. During tho year. the charity r￿￿ed net inveslment gains of £171,418. vthich contribu￿￿ p05itTvdy to ovèrnjl furKI b￿anCeS. On 31 March 2025. total funds stwd at £18,501.926. The Trustees note that the $urF4us refj¥ts the aprAICaU￿ of resources towards the charity'8 activities, Including significant investment in property refurtxshment, routine mainlenarKE. and organis8Oonal capadty. They consider the finanaal outcomè to be eonsistent vAth the chaws approved and lontrlerm strategy for wstaining and enhanrAng its Alm8house estate and Ir)fraStr￿ture. Golng concern In assessing the charity's abilty to Contin￿ as a golng concem. Trustee8 have consldered the charity's financial position, cash flow forecasts, irKome stream8. and level of teserve8. Over the slx years lo 31 March 2025, the charity has ir￿Urred a cumulative net defictt of £889,489. Thls posltlon arose from a ptanned progr8mme of investment in the charitWs prop&ty portfolio. includiThJ major refiJrbishment8, planned work8, and the purchase a￿1 refurbishment of a new offic8. Th8s8 Inveslm8nts were undertaken in accordance wth the charfty's strategic objectives and have teen fvnded thrcwgh a crAnbination of Income, re8etves, and Invesbnent reallsations. As a result of this investment programme, reserves and bullding fijnds hav8 reduced. The TNstees Ir)tend, wher8 appropriate arKJ in accordance witti Charity COMMIS￿0￿ guidance. to ulilise elements of the charlty's permanent endoMnent to support firture capital works and reinvesbnent in properties that further the thartys obj8cIs. The ch8rity has no exlemal borrowngs. In accordance Ihith its tr￿t deed, it maintains an Extraordinary Repalr Fund lo provide for eMerg￿￿Y rep￿15 or rebuiidir@ of Aimshous8s. Th8 charity continues to benefft from reliable and recuthng income streams, SuPp￿ed by a strong asset base and liquwj reserves. The Trustees have aL80 consfidered the impaci of conlinued infiationary pressurps. including Increases In staffing, energy, rates. and ¢onslruction costs. Thèse fxttsr8 are monitored and reftected in finwKial pianning, including deasions relating lo rnairrtenance charges and rental contriLMrtions. After consldaring these matters, the Trustees are satisfied that the charity has adequate resources to continue in operatlonal ex18tencg for lh6 foreseeable futwe. AccordirrfJty. the financial statements have been prepared on thè going concern basis. BEVERLEY CONSOLIDATED CHARITY TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Re$er¥es pollcy Tha Trustees hav8 revlewed the ch*1￿$ reseples dwtrg the year. The purpose of the policy is lo ensure that Charfty malntsins a robust finanual posltion that erta￿e8 11 to 8UStain opèralitins, manage financlal dsk. and respond effectively to unforeseen events. Op8ratlng rns8Th8S Thè charlty mantalns an Operatlng Reswes Fund 7thryth a target levol equivalent lo 12 months, 0￿rating costs. currently assessed at £250,000. The operat￿￿ Reserves FuThY is intended lo cover fiss8ntial oparatiDnal èxpenditure in the event of a 8ignrficant shortfall in irKome or un8xpeded finarKid obllgations, thereby ensuring contlnulty of 8ervlces to resldents. Th8 Op8rating R8serves Fund is hdd s8Pgrately and invested In a capital grr￿￿h inve81ment portfolh), with a lon tem target retum of 5%, and is strLKlured so that fvnds are accessib￿ wrihin three motths should they be required. Ulili8abon of the Operating Rese￿e3 Fund is Subl￿t to approval by the Board of DireGtOTS aThJ wll only occur where Income 8hortfalls or unforeseen expenditure rnaIeriJ￿ affed the chariVs abllty to operate. Wnere reserves are ulllsed. the Trustees wll agree a p18n and timescale for reP￿niShM￿￿. Extraordlnary Repalr Fund In accordance with the tharity's cOnst'tiit￿, th8 Trths 8Jso maintain an Exlracrfdinary Repair Fund, wth minimum targ81 balance of £50,000, lo provK$8 for signfficanl arn1 unforeseen WoPtyrelal￿ expendrture. induding major repairs or reblulding of AJm5houses. Thi8 fund 18 inve8ted in lirte wlth a cA￿tal growth strategy, with a minimum target retum of 5%, and ftjnds are accessible wthln ihree months of request. Ac¢x8 lo Extraorthnary Repair Fund requir08 majorty approval of the full Board of Dlrectors and must be supp￿ted by a clear plan fcf r6plenishn￿t. Thé level of the Extraordinary Repair Fund is re￿￿ved annualty by Ihe Trustees. ts￿ng account of thb charity'8 rf8k register. condition surveys, and forward maintenance p14ns. Monltorlng and reportlnll The reserves kK)licy is revithved annually by the FIna￿e Committee, with ary recommended thanges sthmrtted to the full Bowd for approval. The charity's financial stalements indude disdosure of reserv8s held, induding unr8Stricted fvnds and re8lricted funds such as fhe EXtra{￿dIn¥ry Repair Fund. The Board recsves quarterly reports on re8eNe ￿ve15 and investment pérlomance. Investment pollcy Vve ¢ontinue to Trh*rk with our Investnwl Managgr to monitcf the markets In %thlch 1he charity Is invested, working vAth Rathbones and CCL4 during the year. Th& total inv8stment gain for the year amounted to £171,418. The Trustees re¢ogni8e the conlinued volatilty witllln the finanaal markets and hav8 therefore maintalned balanced investmerrt ¥pproath. spreading risk across o divarsrfied pthllo of financlal and prop8rty inv8slments. The propety Investments comprise of properties bcated With￿ B8v8dey and are h8kl $gpar8t8ty from th& charws Amshouses. These properties are manapj with lh& otyethe of achieving full market rental ￿COMe. The TNstees 8lso ￿sh to note that, in line th plans for a major r8furbishm8nl programm8, some of t}￿ charty's inve8tmenls will need to be reallsed wthin the next finanetal year. BEVERLEY CONSOLIDATED CHARITY TRUSTEES. REPORT (CONTINUED FOR THE YEAR ENDED 31 MARCH 2025 Rlsk Wianagement The Trustees confirm that they have a88es8ed the mw rfsks io wthlch the Charity is exposed and Ihat Systems and procedures have been established to manage th088 rlsk& spec￿1(￿11y.' . Al properties are fully in8ured . The Pemanant Endowment invesknent wrtfofio is spre&d telween prqierty and a wde range of investments . Requests for properues ar8 regulaty revlewed fci t#)Ih Alm8hous88 and our investment prOpert￿S against our key criteria. . Professional advice is taken and acted upon on investment. propety, and kgal matters . The ino)ma strèam is d8P8ndabl8; with no reliar￿& ￿ac*d upon fundrai￿ng currendy . residents when needed linked to a aulJKJrity emergenw helpli . The Twslees have taken out appropriate insurance c¢)ver for wblic liabilty risk aTKt key officer Indemnlty . Wh8r8v8r possi￿@ income is T8ceived by slandiry ord8rnyank cr8dit to minimise cash in transit . CartK)n monoxide delect¢ts ond $mke alams are fftted in all proFettsés and updated through our akwinted contractors . Gas and fire safety checks are GofKlucaed in lin8 With ￿ regulations. . Additional GPD has been ¢(￿PIe￿￿ in fhe rep)rted Y￿ on damp. moukl and Mndens8tknn. Th& remew of the policies procÈdures of ￿ charfty thr￿ our ¢*mmMieè 6truthre and rattficatlon Is completed by fhe Full Board. Stnjcture. governance and managemgnt Several smaller Gharities were amalgamated afKI in 1987 the Bevèrfey Consdldaled Charity was fomied. The charity scheme has had slI￿t amendments over the ye￿5 to enable grEater use of the charlty assets in Ilne wtih Ghange8 withln thé communty, most recènlly thè area af benofit was charvJed from the 8(wh of Bovertey an named parishès to the East Riding ofyorkshire. The chaws focus and tsrgeled re8ource8 continue to be centred around BeVer￿y, but this chang8 glv8s greater flexibility for the future u￿11s8110n of our assets and recogni8es the ongc4NJ changes to ow b(xJnoknries th8 needs of our beneficiary ba￿. The charity operates under a ￿porate In￿teeshIP Bevty Housiro Charrty Trth LTD. Und6r thls structure we have had 10 Direciors on the Board in th8 y8ar. r81irBm8nts at the er￿ of Ihe year which will be recrulted throu9h a ski118 matrix within 25126 year. Our Vlslon A connectsd Beverfey, thriving in latsr life. Mlsslon We enhance the availabS1ity and quality of fr￿uSing for those ai a Its stage of Ilfe from Beverfw and 8urrounding 8rBas. W8 invest in pe￿Ie not just ￿￿opertieS, suppJling those in a financial position, wh¢Jse charfty. can have a significant impact on their ability to live, not exlsL Our Values . We Ilstgn-we actsvely encourdge benefjciary voKes in all Ihal we Ik) . We're arnbitlous - Eagerto put ourchaty Ourp1￿ ￿ fhe map, fDrI￿*p￿Ct￿e We're collaboratlvg - We recognise the Stre￿th in partne￿h￿p8 hqopy to driv8 partne￿￿1p8 worktng a¢￿sS Secto￿ to a￿￿￿¥￿ p￿TIVe oulGomes for￿s￿lent8 We're profassional - We aspire h be a leadilu siKial business. our he8n. Identtying A1 sites for new home devetopment Developing a sustalnabilty plan for the chadty- EnhancirKJ and mastering communicalon¥. Rèsldent Engagament and Feèdback The chaffty has built strong r8PPY)rt with residents. fomialised thr￿h the Residents Committee, thich includ8s repre8entative8 from acr088 the chartlvs hcmnes a￿1 devdowients. This committee provldes onLKiing feedback and 8UPPOrts the ddivery of Informalknn arKI athce ev8nts througmxrt th8 year. Only on8 fomial c￿pI￿nt was recetved in the re￿￿￿j year this was r8view8d in accordanc8 with the charity's complaints policy and condudgj by the Board, as the charity is not a regulated prowdgr. Funds hèld as cugtodlan trustse The Charity holds no assets in this cwity. Appreclatlon are extreme￿ gTatefiJl to all p8rtners wAth adthtions in Ihe year indudlryJ Home8 ErOI￿d, Wl, u3a, Ag8 UK and HEY Mind. The Board and I would also IiTre to ackntyM• the continued greal wC￿k of our wonderTrJ5 team., 1118 not just that they get the job done it is very much alx*rt the way in which thèy da il so passionat81y. The tNste8s' r8POrt was aptyoved by th8 Board ofTrustees. P L R Brook8 On b8half of Beverley Houslng Trustse Llmlted 12 DeCern￿r 2025 10- BEVERLEY CONSOLIDATED CHARITY INDEPENDENT AUDITOR'S REPORT TO THE TRUSTEES OF BEVERLEY CONSOLIDATED CHARITY Oplnlon We have audtied the ffinanclal statements of Be¥&ley Consdldated Charfty (the 'charlty) for the year ended 31 March 2025 which comprf8e the Ststement of finanaal activib"es, the balanL* 8heel, the 8tatement of cash Ilows and notes to the finarKial sts1￿Ments. Including sigruficant accounting policies. The financial reportiw framework that has been applled in theSr kYepaTatiM is apklicable law and United lfjng(&)m Accounting Standards. including Financial R8portirvJ Standard 102 The Financial R8POrting Stsnd&￿ applicable in the UK and Rgpubllo of Ireland (United Kingdom Generally AcceptedAccounllng Praclice). In our OF4nion. the finandal Statem￿.. give a true and fair view of the state of the charity's a￿r5 as at 31 M￿ch 2025 and of Its incoming resources and application of rosources, for the year then ended; have been woporty prepared in accord￿ unl￿ I￿￿j0M Ggnoralty Accepted A¢￿UntIng Prartlo., and have bèen pr6pared in a¢oJrdance with the Ch8rttfiegAcl 2011. Basls for oplnlon We conducted cNJr audit in accordance InlematTronal Standards on Audrfang {UK) (ISA5 (UK>I and appllcaNe L8w. Our responslbllllies under those standards are further descri￿ In the Audltofs rnsponslbllltles for the audit ol the fln8nclal stetem8nts s*ion of ￿ re￿rt. We a￿ Indeper￿nt of the charity in accordance ¥￿th th8 ethlcal requirements that are relevant to our audit of the financial ststements in the UK, including the FRC'S Ethic£l standard. and we have fulfilled our other ethlcal reswwbllRles in accordance wth these raqulremenls. We believe that the audll evldence we have d)taIn￿ Is sufftuent and 8Ptwtste to pYovkl8 a ba81s for our ot4nlon. Conclu8lon¥ relatlng to golng concern In audlliThJ the finanual statements. we have condLthd that the tr￿t898, use of tha golng concem basis of accounting in th8 kyeparalion of the financial statements 18 approFxiat8. Based on the work w& have perfomi￿, we have Th)t identified any material uncertainties relating to events or ndiliorks that, individually or colLgCtively, may cast wgnificanl doubt on the cmqrity's ability to continue as a going concern for a period of at least iwelve months from vrt￿ Ihe fir￿n¢la1 statements are authorised for issue. Our responsibilities and the responsbi ]￿tieS of the twstees V￿th reSp￿t lo going concem are described In th6 rebvant sections of this rewrL Other Infomlation Tl* other information comprises the infom7ati￿ Inc1￿18d in the annual rewrt other than the fina￿la1 statements and our 8udilofs r8POrt Iheteon. The trustees ar8 re$W￿￿e for th8 Other information ￿taIned WIt￿n the annual report. Our opinion on the finanaal statements does not co￿1 the other 1nfoThatiC￿ and we do not express any fom of assurance condusion theref￿. Our responsibilty is to read the other information and, in doing 50, wnsider wh8lh8r tho oth8r information is materially Ir￿￿sIStenI vjith the financial stalemfjnts or our thowledge obtained in the course of the audit. or otherwse appears to tk materiaDy misstated. If we identify such material inconsistencle8 or apparent material misstatements, we are required to determi￿ whether thts gNes rise to a mat￿la] misslatemenl in the finanaal statements themselves. If, based on the work we have perform8d, ￿ condude that thèrè Is a material misstatement of this other information. ￿ are required to rep)rt that fact. We have nothing lo report in this regard. Matters on Twhlch we are requlred to report ty exceptlon We have nothing to report in respect of Ihe followThJ matters in relatx)n to whith the Chariiles (Accounts and Reports) Regulations 2008 requires us lo report to you rf. in our opinion.. the Infom8tion given in Ihe finarrial sL9teM￿ Is incon8iStent In any matertal respect ￿ th& tru8tees' report; or sufficient accountlng reca)rd8 have not been kepL' or th8 finan￿81 statem8nts are Th)t in agreement wth the aoccKmting records., or we have not rec8iv8d dl the Inforn*tic￿ explanations we require forour au(ffit 11 BEVERLEY CONSOLIDATED CHARITY INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE TRUSTEES OF BEVERLEY CONSOLIDATED CHARITY Re$ponslbllltle8 of trustee8 A8 explained more fvlly in the statement of trust¢e¥' r8sptinsibiliti8S. thé trust￿ arè resp￿SIble forthe preparatlon of the financi81 statements and fr>r bwng satisfied that they give a true and fair wew, and for such internal control a8 the Irusle8s d8termine is nec8ssary lo enat4e the preparation of financi￿ statements that are free from material mlsstatemenl, whether due lo fraud or ewor. In prèparing the ffin8n¢i*l ststemènts, the tru8le88 are responsiblo for assessing the charlty's ability lo continue as a going concem, disdosing. as applicable. matters related lo goiThJ concern and wng the going Concern basi5 01 accounb.ng unless the trustees eTther intend to cease operations, or have no reali¥liG allernthe Ixrt to do so. Audltotrs re8pon8lbllltles forthe audtt of thg flDanclal slatemonts È have been appointed as a￿ltor undèr sectIC￿ 144 of the Charlties Act 2011 aThJ rep)rt in accordance wlth the Act a￿1 relevant regulations made or having effect therwjnder. Our objectives are lo obtain reasonatA8 asSUrar￿ atKJul the finanaal statements as a whol8 ar8 free from material misstatemenL Ythether due lo fraud or error. arKI to issue an al￿￿110￿$ rèport that Includes our opinion. Rea8onatAe assurance is a high ￿Val (ff assurarKe but is not a guarantee that an audit conducted In accordance ISAS {UTrQ wll always detect a material misstslemenl when il exsts. Misstalernents can arise from fraud or error 8nd are considered material if, indiwdually or in the aggregale, they could reas¢xably ba exp&Aed to lnfiuer￿8 the economic decisions of users fak&n on the b￿S of Ihese financial ststements. The extent to whlch our pr￿dureS are capable of dgtecling irregu￿ri110s, inohjdiry fraud, 15 detslled below. Enqulry of management and those charged with 9)vwnment around athjal and FQtentsl liugatlon and dalm8. Discussions wlh management and those charged with o)veMa￿ Includh)g con81deratI￿ of known or suspected Instan￿$ of non<¢Jmpllan￿ wth laws and regulations and fr8ud. Understsnding and evaluats'on of the operating eff￿bvenésS of man&Jemerfs entity level controls designed to p￿vent and delect irregularrbes. Reviewing mlrwthes of meetlngs ofthose d)arged wlth ￿￿(l￿nce. Reviewlng ffinaNlal statement disclosures and testing supp)rtlrKJ documenlation to assess ¢omplianGe wlh appllcable laws and regUla￿on8. Auditing the risk of Managern￿ ov8nid8 of controls, induding through testir#J i￿jma1 entn'es and other adluslments for appropriateness. arvJ evaluating the business rationaje of signrfi￿nI transactions outside the ￿rMal course of busines8. Testlng over perlod end adjustments. There are inherent limitations in the a￿lIt procedures deseribed above. ￿ are less Ilkdy to kcom8 aware of instances of noTrcompliance w￿th laws and regLAation$ fhat ar8 not elosety related to events and transactions reflecteé in th8 financial stat8m8nls. Also, the risk of not detectirvJ a material misststemenl due to fraud is huher than the risk of not dete¢tiro one resulting from error. as fraud may invotve dellberate concealment by, for axample, forg8ry or intentional misrepresentations. or Ihrough collusion. Our autht testing might Indude testing complete populations of certain transactions and balances: p05siW uslng data auditing tethniques. How8ver. il typical Invo￿e5 selecting a limited number of rt￿5 for testing, rathw than testing com ￿ete p)pulation8. We wll 0ft8n s88k to target particular items for testing based on th￿r 8rze or risk characteristics. In other cases, we will use audit sampling to ertable us to draw a ¢onclus￿rt abcArt the populatlon from whlch ￿ sample ts sel8cted. A further descdption of respon￿bIlItieS is availobte Im th8 Fin￿￿ Re￿ting CcyJnal's website at.. htts)s.'Il Y￿.fr¢.0rg.UkIaU￿l1orSresponSlbllltI8s. This desuipticfi foTms part of our auditc*'s rgport. 12- BEVERLEY CONSOLIDATED CHARITY INDEPENDENT AUDITOR'S REPORT (CONTINUED TO THE TRUSTEES OF BEVERLEY CONSOLIDATED CHARITY Your attention Is dravm lo the fad that the charity has prepared financial stalernents in accordance with "Accounting and R8POrting by Charities.. Statement of Recomm8nd8d Practice ap￿1¢ab￿ lo tharlbes preparing their accounts in awordance with the Flnancial Rep(Kbng Standar(l apF4Kable in the UK and Republic of Ireland IFRS 1021. 188 aM￿￿ed) in preference lo the AccoLrnting aThJ Rewting by Charitigs.. Statement of Re¢))mmended Praclthlssued on l AFNiI 2005 which is referred to in the extant reguL4lK)ns but has now been withdr￿. This has been done in order for Ihe finarKial statements to F￿0VIde a t￿￿ arKI fair view In ￿COrdanCe wlth current GanerallyAcceptedAccoLmtlng Practice. Use of our rgport Thls report 18 madè soldy lo the Charity's trustees. as a body. in ar£•Jrdance with sect￿￿ 144 of the Charil85 Act 2011 and th& reguladons made under sectlon 154 of th8tAct. Our audit WLYk has t*en LYKlertaken so Ihal we might stale to the Charity'8 trustees those mattets we a￿ required to state to them in an auditorfs report for no other purpose. To the fullest extent pem)ltted by law. we do rh)t awt or assume responsibility to anyone other than the Charfty and the Ch*kty's trustees as a body. for our audktwotk. for thls report. or for the oplnions wo have foThed Flnnle$ Accountsnts Llmlted Chartered Certlfled Accountsnts ststutory Audltor 4-6 Swaty8 Yard Walkergale aeverfey East Yorkshire United Kingdom HU17 9BZ Finnies Accountwts Limited is 81igitAe for apwintrn8nt as auditor of lh8 ¢harTty by virbje of its eligibility for appointment as auditor of a company urKler 1212 of the CompaniesAct 20Cfj. 13- BEVERLEY CONSOLIDATED CHARITY STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2025 Currant flnanclal year Unre5tr1cted EndOyffl￿nt Rostslcted Endo*Thent funds funds funds funds almshouse ggneral 2025 2025 Total Totsl 2025 2025 2025 2024 Notes Incom8 from: Charitable aclknlie8 Other trading acti￿￿eS Inve8lm8nts 27.302 895.603 922.905 8,584 327,506 621,195 5.994 334,238 327,5( Totsl Income 363.392 895,603 1,258.995 961,427 Exp8ndltur8 on: Rai8ing fund8 Charitable acti￿lIeS 45.349 105,493 1.2￿,862 12,042 57,391 70,648 1,342,355 1,880,849 Total oxpendlture 150,842 1.236.862 12,042 1,399.746 1.951,495 Net gainslllos8es) on investments 13 819 170,599 171,418 371,115 Nèt Incomellexpendlture) 212.550 1341.259) 819 158,557 30,667 1818,953) Tr8nsf8rs bebmeen fiJKIs {83,860) 172.331 188,471) Net ￿￿vement In funds 128,690 1168,928) 819 70,066 30,667 1618,953) Reconclllatlon of lunds- Fund balances at 1 April 2024 1.032.081 7,752,024 55,087 9,632,(Q7 18,471,259 19,Q90,212 Fund balances at 31 March 2025 1.160.771 7.583.096 55,906 9.702.153 18,501,926 18,471,259 The staternent of flnarKial activilies Indudés all gains and losses recognis&Y in the year. Al income and expendlture derive from Gontinuing adivibes. 14- BEVERLEY CONSOLIDATED CHARITY STATEMENT OF FINANCIAL ACTIVITIES (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Prlorllnanclal year Unrnstrktod EndoMn8nt R8strlct•d Endowmont funds funds almshou50 general 2024 2024 Total 2024 2024 2024 InGome from: Ch8rf1able actlvilles Other Irading activrfaes Investments 11.725 5.594 334,238 609,470 400 621,195 5,994 334,238 Total Incomg 351,557 609.870 961,427 Expendlture on: Raislng flmds Charitable acliwties I4,￿2 70,846 1,880,849 107.372 1.773.477 Totsl oxpfrndlture 163.956 1.773.47T 14.1￿2 1,951,495 Net g81nslllosse81 on Investments 13 1.847 367.803 371,115 Net Incomel{expgndlluro1 189.448 (1.163.607) 1,465 353,741 (618,953) Transfers between funds (1,207,238) 1.004.889 202.349 N•t movgment In fvnds (1.017,790) (158.718) 1,465 556,090 (618,953) Reconclllatlon of funds: F￿d balances at 1 April 2023 2.049,871 7.910,742 53.622 9,075,977 19,090,212 Fund balances at 31 March 2024 1.032,081 7.752.024 55,087 9,632.067 18,471,259 15- BEVERLEY CONSOLIDATED CHARITY STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 MARCH 2025 2026 2024 Cash flow8 frtmn operatlng xtfvitk5 Cash absorbed by operallons 27 1565.738) (1,008,008) Investlng acllvlt168 Purchase of tangible fixed assets Purchasé of investment property Purchase of other investments Proceeds from dlsposal of olher investmerrts Investment income received 140.1101 {181.7931 (331.0991 e13,410 327. (129,2851 1202,3491 1347,7891 1,378,991 334,238 Met cash goneratsd from Investlng a¢tlvlUg5 387.914 433,8C6 P48t ¢ash genèratsd from Ilnanclng acuvltlgs Net docrease In cash and cash equlvalents 1177.824} (574,202) Cash and cash equfvalenls at beglnnlrwj of y 539.864 1,114,066 Cash and equlvajents at ond of year 362.040 539.864 16- BEVERLEY CONSOLIDATED CHARITY BALANCE SHEEr ASAT31 MARCH2025 2026 2024 Flxad assets Tangible assets Investment property Investments 15 16 17 8,357,776 4,209,840 5.573,289 8,501,684 4,028,047 5.684,182 18,140.905 18,213.913 Current as8ats Debtors Cash at bank and in haTrJ 19 67.894 2,040 67.181 539,864 429,934 607,045 redltors: amounts falllng dug wlthln ono year 20 168,913) 1349,6991 Net current assets 361,021 257,Y6 Total assats 18ss current Ilabllltl8S 18.501.926 18,471,259 The funds of the charlty Endowment fund8- geneial Endowmanl ftJnds- almshouse Restricted income funds Unreslii&ed funds 22 23 21 9.702,153 7,583,096 55,9thS 1.160,771 9,632,067 7,752,024 55,087 1,032,081 18.501,926 18,471,259 The finandal stal8merrts w8r8 arvroved ty th8 tr￿ts8S cm 12 DeC￿lber 2025 P L R Brook& On behalf of Bevedey Housing Trustee Llmited 17- BEVERLEY CONSOLIDATED CHARITY NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 Accountlng pollcles 1.1 Accountlng ￿nVentIOn The financial statements have been prepared in accordanco wth Accounb'ng and Reporbng by Charities.. statement of Rewmmended Practi￿ apkli¢atrAe lo dwrities preparing the￿ accounts in ￿CordanCe wlh the Financial Reporting Stsndard aPFAicabl8 in the UK and Republic of Iretand {FRS 102)18ff8div8 151 January 20201- (Charit￿¥ SORP (FRS 10211. the Financial ReFKNting StarKlard applKabk in the UK and Republk of Ireland (FRS 102) and the Chaiitv&sAct 2011. Bevedèy Consolldated Chaiity meet$ the definitton ofa pubfi¢ berth entity under FRS 102. Assets and Ilabllttées are inib'ally recognised at hlstOTKal cost or transaction Val￿ unless otherwise stated in the relevant accountiNJ policy notel81 The financial sta18menls hav8 depart￿1 from the Charities {Accounts and Repc¥ts) Regulations 2CK18 onty to the extent requlred to wovide a true and fair vivw. This departre has involved followng the Statement of Recommended Practice fcf charities apptying FRS 102 rather Ihan tho v&rsion of the Statement ot Re(￿Mmended Pracb'ce which Is referred io in the Reg￿811￿￿ txrt whi(*i has 5irKe been wthdrawn. The finanoal stslem8nts ar8 wepared in siediTrJ, which 18 the frjnctionat ujtrency of th& charity. Monetary amounts in these financial st*ments are roUnd￿j to the nearest £. The finanaal staternents have been prepared under the hlstorical LX)sl convenuon, mothtled to include th8 revaluation of freehold properties aThJ to Indude Invesbnent prTwerb"e8 and ￿rtaIn ffinancial InstrLOmants at falr value. The prIn￿paI accountiro wliaes adopted are set out below. 1.2 Golnu concern At the time of the finanual statements, Ihe INstee8 have a reasonable expectstion that the charity ha8 ￿laqU*8 resources to conllnue In operatlonal ex1stence for the foreseeab￿ fijturè. Thus the tr￿leaS Contin￿ to adopt the going concem ba8ls of 8ccx)unting in prepaling the finarTrLial Statements. 1.3 Charftsble fvnds Unrestricted funds are availab￿ for use at the di5U81kn of the truste8s in furth8rarK8 of their charitable object￿e$. Restiicted fijnds are subjed to speafic coTrj￿OnS by Ojnors or grant0￿ as to Fbjw they may be Us￿. The purp08e8 and uses of the restrk1￿ funds are set oui in Ihe notes to the financial statemènts. Endowm8nt ftwxls are 8ublect to 8pth CorKIrt￿)nS by dcrnrs fh* th& tawtal must ba malnt8lned by the charfty. 1A Income Incom8 Is r8cognised when the tharity k8 legally entiued lo it after any perfo￿nanCe conditKsns hav8 b88n met, the amounts can be measwed rel￿￿y, and it is wc4)able that income wlll be receiv￿1. il Rewdents. Contributions towwth tre uF*eep of the aro a¢￿unt￿ for on an aGcruals basis. ill Investment income is taken nto account on an acuuals basis and indudes irKome tax recoverable. There ara no restrtctons on thè Income from permanent ￿d0￿￿￿t invesknenls. iif) IrKorlle from legacies is accounted once entitlement has been established. the amount can be reaEonably estimated and its receipt is txtsba￿e. 18- BEVERLEY CONSOLIDATED CHARITY NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AIARCH 2025 Accountlng polklg8 Icontlnued) Legacles are r￿gnISed on r￿1p1 or otherw8e rf the charity has been notifi&J of an impending dL8tributKJn, the amount is known, and re￿Ipt 18 eXpect￿j. If the amount 1$ not kwn, Ihe legacy 18 treated as a contingent asset. 1.6 Expendlturg Expenditure 1$ recognised there Is a legal ￿ conslrwtiV8 obligat#)n to transter economlo beneffit to a third paty, A is probable that a transfer of economic beneffts will be required in Settlement, and the amount of the obligallon ¢an be measured reliably. Expendlture is classlfled by actlvlty. Th& Costs of each actmty are made up of the total of dIr￿t cos15 ond shared costs. indudlng support ￿$tS irwolved in undertaking each activity. Direct ¢￿ts attributatrAe to a single activity are allo(ztsd dir￿uY to that activty. Shar￿1 costs which contribute to mor8 than on8 activity and djpport C0818 whid) are not attrfbutable to a sIn￿e activity are apportioned be￿een those activities on a basis conslstent vAth the use of resource8. Central staff costs are alkjcalgj on the ￿15 of time spenl, and depreciation dwrge8 are alcKaied on the pNbon of the assefs u$8. 1.6 Tanglbl& flxod assetg Tanglble fixed assets are initially measur￿1 at ￿8t and subsequ• measured at C08t or valualk)n. net of depreaalion and any Impar￿￿entIO$SQs. Depreciation 18 recognised so as to *Tite off lh8 COSt or valuation of assets less thelr resldual valu85 OV8r ￿81T useful lives on the followng bas Office FixtLKes and Frtbngs we depreciated ot 15% pw annum on vffitten dcpwn vdue, H￿T￿ Equipment al 25°h per annum on cost. plant and equiprnent at 20% per annum on cost and Leasehc4d Alterations at 10% r annum ￿ cost in order lo write off each asset over its estimat8d us8fv1 life. Freehold lan(1 a￿1 buildiNJs L8asehold impmvements Plant and equipment 2% Fer annum on cost (bulldirys only) 100kn per annum on cost 15% p8r annum on written d(wm value, or 25% or 20% on Motor vehlde8 20% per annum on c05t The galn or108s arising on the disposal of an asset 15 determined as the drfference befv￿en the sale proceeds 8nd the canylng value of the asset. and is ￿nIs￿ In the slatément of finanda actNitie8. 1.7 Investment property Investment Pro￿ty, vthich is proFerty hekl to eam rentsls andlor for capltal approclatlon. Is Inltlally recognised at cost, which indudes ￿ purchase cost and any direcuy attributable empenditure. Subsequently It Is Measur￿ at far value al tho rwtiThJ dale. The surplus or deficit on revaluation Is reu)gnised in Pfofit or bss. Investment properues are professionally revalued on a triannual basis and any gains or losses taken to the Slalement of FinanGial Ad]vil￿5. Assèts for tharilabl6 u$8 ara Étated at cost or wthere cost rec(￿ no longer e￿St. at their 1996 insurance value. Depreclatlon is provided M the eost of the t￿l￿￿r￿J$ so as to wrtte them off over their estimated usefvl lives at 2% perannum co¥t 19- BEVERLEY CONSOLIDATED CHARITY NOTES TO THE FINANCIALSTATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Accountlng pollcl IContlnufjd} 1.8 Flx•d assel Investments Flxed asset invostmen15 are initialty mogsured at transthn pr￿ excluding tr&nsaGtion Costs, and are subsequ8nty M￿sUred at fair value at each reFxytiro dat8. Changes in fair value are recognised in net incomel{expenditurel foT Ihe year. Transacfion costs are exFensed as incurT&J. 1.9 Impalmient of Ilx¢d asgets At vach reFQrtlng end date. the charfty revlews the carrying amcdjnls of its tsngible assets lo delerniine whether ther8 is any indication that th08e a88ets have suffered an impalmienl loss. If any such Sndication exists, the recoveraNe amount of the asset is estimated in crter to delemkne the extent of th8 impaimienl loss Ilf any). 1.10 Cash and cash equlval•nts Cash and cash equivalents includ8 cash in hand, derx)sils h8kl at rall ￿th banks. other shortstemi liquid investments ￿th origind maturities of ttryee months cf les¥. and bank overdrafts. Bank overthaft8 are 8h¢)wn within borrowng8 in current liabilities. 1.11 Flnanclal Instrumonts The charity ha8 elected to appty t1￿ provisiorys of ￿tion 11 'Bastc Financh?I Instruments, and Sectlon 12 'Other FinanrAal Instruments Issues, of FRS 102 lo an of ils ffinandal instruments. Financial instruments are recognised in the chaiiws b￿an￿ Sheet when the chatlty becomes paty lo the contractual provi8ions of the instnjment Financlal assets and lla￿1111eS are offset, Mth the net am(NJnts presented In finandal statements, ￿en there Is a legally enforceable right to set off th8 r&wnised amounts 8TrJ there is an int8ntion la s8tt1@ on a net bas18 Cff to reallse the asset and settle the I￿9￿(1W simultane(K￿lY. Basi¢ finaneMI assets Baslc financlal assets. whlch include debtors and cash and bank balances, are inttially measured at transaction pri￿ induding trans￿li0n (xjsts arvj are subsequenity carried at amortised cost using the effective Interest method unle88 the arrangement constituteg a financing transaction, where the transaction is measured al the present value of the future recelpts dvdcounted at a market rate of inlerosl. Financial assets classified a8 ￿¢￿v8ble within one year are not amorbsed. Basic ffnanclal Ilabllltlos Baslc ffinanBial liabilities, induding L¥edilor8 and bank loan8 are In￿allY recognised at transactK>n price unlo88 the arrangement rJ)nstitutes a financing Iranwtion. Ihtwe the debt Instrument is measured al the present value of the fijture payment8 dlscounted at a mart(et rate of Interest. Flnancial liabilities classified as payable withln one year are not 8morli8ed. Debt Instruments are subsequenty carried at amorti8ed ￿8( uslng the effectNe intorest rate method. Trade credltors are 0bllgati0r￿ to pay for gc(Kls or Servi￿8 that have tfjen wuired in the ordinary course ol operations from suppliers. Amounts payable am classified as current liabilities if payment is due within one year or less. If not. they are pre8errted as nc4>￿rrent liabilities. Trade cre(titors are recogni58d initially al transaction price subsequenlty measured at amortised cost using the effeclivo interest method. Dar¥¢ognition of financial liabililies Financial liabtlities are derecoJThsed when the charws ￿ntrth1 0￿198t10nS expire ￿ are distharged or cancelled. 1.12 Taxatlon As a registered charity, the Charty is generally exempl from Incom8 Tax and Capital Gains Tax, but not frcrfn VAT. Irrecoverable VAT is included tn Ihe cost of Ihose items to which il relates BEVERLEY CONSOLIDATED CHARITY NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Accountlnu pollcles IConllnued} 1.13 Employee bono11ts The ￿8t of any uftus￿ hol￿aY entitldnwrt is r6etsJlsed in peri(￿ In which the emkqoya8'8 servlces are recaved. Termination benefjts are recogni8ed Immediatety as an expense ￿en th8 charity 18 de￿n8tra￿Y commlttgj to temilnate the employment of an employee or to tmkje temiinatlon bènefits. 1.14 AIIoGatlon of R&sour￿ oxponde Expenses assoclaled the management of Ihe Charfws Invesknent Fthfolios are charged against th8 pern￿nent Ernknment FundReLX)upmenl Funds. a8 8pw(4xlate. . Eynsos associated wlth the malntenance of the alms properties and the weif8re of the alm8per8ons are Charg￿ against the Amshouse Entknmerrt Fund. . Expenses associalod Mlh the mwntenance of investment propgrties are Gharged against the Expendabl& Endowm&nt Fund as IThv8sbn￿I management costs. . Fees paid to the Sur¥eyor forwth on property devebwent are catslised. . Governan¢e costs cornprise fees for audit, accountancy and lega servltes associated ¥￿th the management of the Charity, plus the Cost of Officers and Trustee5 liabilty insurdnce, plus 90% of the Chief ExecuNve'8 salary and 10% of the Clerk's salary. • Support costs comprise the remainder ofall expeTrJiture. Transactlons wlth Trustsgs and othor ConngGtod Pgrsons The charity is th& malority ovmer in a d8vdopm8nt of flats and h(xJses known as Ciladel Court, which are let both as investments and as almshouses. A management group. The Cwel Court Management Group oversees the maintenarKe of communal areas. Th8 management committee comprises three members, ts¥o nominated by the Charity 8nd one representing the private 0￿￿r$. The trustee Mrs P Porter represented the tharty. crftkal accountlng e8tlmat08 andjudgements In the applICa￿On of the chws accounting P￿IdeS. the trustees are required to make IL￿geMents. estirna18S and a8sumptions about the carwng am(yJnt of assets and Ilabilltles that are not readlly apparent from other sources. The e8timates and associated as8umption8 are based on historical evrIen￿ and other factw th8t are considered to be re]evant Actu￿ results may drffer from these estimatss. The estlmates and undeAWng assumpti¢)ns are revIe￿*d on an ongoing basi8. Revision8 to accounting estirnales are rEwni8ed In the period in ￿lch the estimate is rewsed where th8 revlsion affects crfy that pérfod, or In the period of the rthry81¢)n and future pènods vthere the revision affects both current and futuro pertod8. -21- BEVERLEY CONSOLIDATED CHARITY NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Income from charltable actlvltles Total Unreslrktsd Endovfftfrnt funds funds alm¥housg 2024 Tolal nds almshouse 2026 2026 2026 2024 2024 Income from tradlng actlvltlos Re8idenls contributions Charitable rental Income Other Income 633.603 633,603 27,302 262,000 609,470 609.470 11,725 27,302 11,725 262.000 27,302 895,603 922,905 11,725 609,470 621,195 Incomè from oth8rtsdlng actlvltlos Unrestrfcted Endovm)ent funds funds almshousè 2026 Total Unrestrlcted Endowment fvnds funds almshousè 2024 Totsl 2026 2025 2024 2024 NorFtharitab18 trading activ￿8$ 5,594 400 Incoma from Invgstmgnts Unrestrlcted Unrestrlcted funds funds 2025 2024 Other income Inierest recelvable 327,5 332,965 1,273 327,506 334,238 Expondltuye on ralslng fund8 Unre8trlcted Endowment funds funds 2025 2026 Total Unrestrlcted Endowment funds funds 2024 2024 Total 2020 2024 Investment marwment 45.349 12.042 57.391 56.584 14.062 70.646 BEVERLEY CONSOLIDATED CHARITY NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Expendlture on charltable actlvltles Total Support Total Total Support Tolal 2026 2026 2026 2024 2024 2024 Dlr¢ct costs Depreciation 8nd Impalrment Charitable expendlture Property refurbishment Propety Ir)suranc* Ulllity costs Residents wdfa 184.018 220.897 353,327 22.914 50,680 42,074 184,018 220,897 353.327 22,914 50.680 42.074 165,123 255,165 923.759 20,898 36,540 27.437 165,123 255,165 923,759 20,898 36,540 27,437 873.910 873.910 1,428.922 1.428,922 share of support and governance costs (see nots 9) Supwrt 362.952 Governance 362,952 105.493 344,555 344,555 107,372 105.493 107,372 979.403 362.952 1,342,355 1,536,294 344,555 1.880,849 Anaty$b by fund Unre8tr1cted fund8 Endowment fvnds- almshouse 105.493 105.493 107,372 107,372 873,910 362,952 1.236.8S2 1.428.922 3U.555 1.773.477 979.403 362.952 1.342.355 1.536.294 344,555 1,880,849 Net movemenl In funds 2026 2024 The net movemgnt in funds is stated afterthargin9llcredrfing}: Fees payable for the audlt ofthe ch8rWs finawal statements Depreciation of owned tangitAe fixed assets 9,450 184.018 19,625 165.123 Support c¢)sts allocalod to athltlgs Total 2025 Total 2024 staff costs Insurance Audit arKI accountantsy 91,253 1,244 12,998 86.664 1,083 19,625 105,493 107.372 BEVERLEY CONSOLIDATED CHARITY NOTES TO THE FINANCIAL STATEMENTS (CONTINUED> FOR THE YEAR ENDED 31 MARCH 2025 10 Audltorfs remunoratlon Fees payable to Ihe charty'8 aLtd5tor and a88(Xkqles: 2025 2024 For audlt servkes Audlt of the financlal statements of the charity 9,450 19,625 11 Truste88 None of the trusteès (or ￿Y per￿8 conr*cted them) recelved any remuneratlon or beneffts from tho harity during the year. 12 Employoes The averag8 monthty number of employees during the year was: 2025 Number 2024 Number Employmgnt Costs 2025 2024 Wages and 5alartes 293.522 247.383 Tre number of employ88s v*hose annual remurw3ti￿ w morè than £60,000 is as follows.. 2025 Number 2024 Numbèr £70,000- £80,000 Rgmuneratlon of key management personnel The (emunera￿on of key managanent personnel was as Ic4khVS: 2025 2024 Aggregate remuner8tlon 79.403 74,428 -24- è) BEVERLEY CONSOLIDATED CHARITY NOTES TO THE FINANCIAL STATEMENTS (CONTINUEDI FOR THE YEAR ENDED 31 AIARCH 2025 14 Taxatlon The charlty Is 8xempt from taxadon on its &tibryties ￿e￿use dl [18 incc4ne Is applled for charftable purpo8e8. 16 Tanglble flxod 8￿#￿ F￿1￿]d Lqnd Lea8ehold Plantand Motor v•hklo& Totsl Cost At 1 N)rll 2024 Athitions 11.532.235 29.173 25,358 15,522 22,388 11,609,154 24,588 40,110 At 31 March 2025 11,532.235 29.173 40.880 46,976 11,649,264 D¢pffj¢latlon and Impalm￿Tht At 1 April 2024 Depreciation charged in the year 3,050,926 168.928 29,173 20,654 5.694 6,717 3,107,470 9,396 184,018 At 31 March 2025 3,219,854 29.173 26,348 16,113 3.291,488 Carrylng amount At 31 March 2025 8,312.381 14,532 30,863 8.357,776 At 31 Marth 2024 8.481.309 4,704 15,671 8.501,684 In Dr￿ to comply with reMS￿ repLYting r￿￿reMellts the amshouses wer& first Includ￿1 In th8 financial statements In 1996. Due to the leWh of time for whkh some of the pro￿rtIes have been owned, records ot thèir co81 no longer exlst. ￿ere this is the case the proMies have be￿ included at that 1996 value for IT18urance purpK)ses. The LX)8t as at 31 March 2025 therefore prcprties incI￿led at Insurance value lotslllng £1.303.79312024 £1.303.793). 16 Investmttnt propèrty 2026 Falr value At l April 2024 Adthllons through ex1wn￿ wutslllon 4,028,047 181,793 At 31 March 2025 4.209,840 Inveslmont properM&s are subj￿1 to 8 professlonal valLrtaion on a triennial basis by Stanifords, Chartered Surveyors. The last appTrA681 w88 c￿ 24th May 2023 and the revaluati￿ has b8on reflected in the firRncial statements for Ihe year. BEVERLEY CONSOLIDATED CHARITY NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AIARCH 2025 17 Flxod asset Invegtments Ustod Unllstod Gash awaltlng Invesbnoftts Investm8nts Invastmant Total Cost or valuatlon At 1 April 2024 Additions Valuation thange8 Transfers Disposals 1,758,218 331.099 49.481 4,417 <343,1461 3,898.068 27,8 5,684,182 331,099 171,418 121.937 {4,4171 <270.2641 (613,410) At 31 March 2025 1,800,069 3,749.741 23.479 5,573,289 Carrylng arnount At 31 March 2025 1,800,069 3,749,741 23.479 5,573,289 At 31 March 2024 1,758.218 3,898,¢X8 27,8 5,684,182 18 FInanc￿l Instrumants 2025 2024 Carrylng amount of ftnanclal assats InstrUrr￿llts mea8ured at fair valuethrough profft or10sS 3.749.741 3,898.068 19 DobtOf5 2026 2024 Amounts falllng due wllhln ono year. Trade debtors Othar d8blors Prepaymerts and accru&J income soo 25,072 42.222 25,072 42,109 67,894 67,181 20 Credltors: amounts falllng due vAthln one year 2025 2024 Other taxation and s￿191 serjjrlty Trade creditors Other creditor5 Accwals and delerred income 5,793 19,424 26.601 17,095 5,521 235.774 26,425 81,979 88,913 349.699 -27- BEVERLEY CONSOLIDATED CHARITY NOTES TO THE FINANCIAL STATEMENTS ICONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 21 Re8lrlctsd funds The restricted fund8 of the tharity comwi8e Ihe unexpended bala￿ of donaNons grants held on tru¥t subject lo speclflc condllons by dornr8 as to how they may be US￿1. At 1 Aprll 2024 Galn5 and At31 March 2025 Extraordinary repalr fvnd 55,087 819 55,¥ PrevJou8 y¢•r. At 1 Aprll 2023 Galng and At 31 March 108SO8 2024 Extraordinary rowr fvjnd 53,&22 1.465 55.087 22 Endowmont funds Endowment fijnds repr8sent assets whlch must be held penn￿￿ty by the charity. Income arising on th6 endownenl funds can be used in acc￿￿onCe wth the objerts of the charity and is induded a5 unwtricted income. Any capitsl gains or losses ari￿r￿ on the assets fomi part of lh8 fijnd. At 1 Aprfl Resources 2024 expended Transtsrs Golns and At 31 March k￿e$ 2026 Pemianent en￿o￿nents 9,832,[￿7 (12,0421 {88.471) 170.599 9,702,1 $3 Prevlous year: At 1 Aprfl Resources 2023 expgnded Trnn Galng and At 31 March 2024 Permanent endowments 9,075,977 {14.W2> 202.349 367,803 9,832,067 During the year thero ha5 been a draW{kn￿ the pe￿anent eTr$x￿nentfUnd of£267,699 relating to a an overpayment of a hIst￿C recoupment loan. ￿￿rk has been performed the verfy the funds were hdd outside of the pemanent endowmenc however the $ouree of the overpayment cannot be verified due to hislorfc records not being availat￿e relating to the original repayments. -28- BEVERLEY CONSOLIDATED CHARITY NOTES TO THE FINANCIAL STATEIAENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 23 Endowment funds - almBhou8e These are en(l¢)wmenl funds furbys vthlch are material to the charitV8 actfvitie8. At 1 Aprfl Incomlng Resourctrs 2024 resources exp¢nded Transfern At 31 March 2026 Almshouso enth)wment fvnd 7,752,024 895.803 (1.236.882) 172.331 7,583,096 Provlous year.. At 1 Aprll Incomlng Re￿UrceS 2023 resourtes expended Transfers At 31 March 2024 AlmshoLJ88 8ndavnn&nt ftjnd 7,910,742 609.870 (1,TT3,477) 1.004.889 7,752,024 24 UnrgStrfGtgd funds The unrethcted fvnds ofthe charity comprise the urExpended balances of donati¢M and grants whlch are not subject lo specific Conditic￿ by donors ￿ grantors as to how they may be used. These Include deSi￿al0d fvnds vthich have tseen set aside out of unrestricted )1￿$ by the tsusteès fcrt specific purposes. At 1 ApTII 2024 Incomlng Resources resources expendgd Transfers Galns and At 31 March los$es 2026 General funds 1.032,081 363.392 (150.8421 183.860) 1,160,771 Prevloug year. At 1 Aprll 2023 Incomlng ResOUfC05 TransftTS Galns and At31 March 10s$es 2024 Goneral fijnds 2.049,871 351,557 {163.956} {1,207,238} 1,847 1,032,081 26 Analysls of ngt assets b9twean funds Unr6str1cted Endowmert Restrfcted Elknwment funds Dds funds funds almshous8 general 2025 2025 Totsl 2025 2025 2025 At 31 March 2020: Tangible assets Investmenl properties Invesknenls CuThent a88etslOlablHles) TT4.680 7,583.096 8.357,776 4,209,84D 5,573,289 361,021 4,209,840 5,517,383 {25,0701 55,9C 386.091 1.160.771 7.583.096 55,9C 9.702,153 18,501,926 BEVERLEY CONSOLIDATED CHARITY NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 20 Analysls of not assets bet4wen funds (Contlnuedl Unrestrlcted Endowm•nt Rostrktgd Endowment funds funds funds neral 2024 Totsl ahnshouse 2024 2024 2024 At 31 March 2024: Tanglble a88ets Invesknent ￿￿per￿&S Investsnents Current assetsllliabilitieB} 749,660 7.752,024 8,501,684 4,028,047 5,684,182 257,346 4.028,047 5,629,095 (25,0751 55,087 282,421 1,032,081 7.752.024 55,087 9,632.C67 18,471,259 26 Relat￿ patty tmnsactlons There ware no dsclosatrA8 related party tran￿￿On8 thring the year {2024- none). 27 Cash absort)ed by operatlons 2025 2024 Surpluslldefidt) for the year 30.687 1818,9531 Adjustments for. Investment income rec￿jnised In statem￿tt of financial actrvibes Fair value gains and losses on investm&nts Depreclatlon and impairmeth of tsngible assets {327.506) {171.4181 184.018 1334,2381 {371,115) 165,123 Movements In worklng upltal: (Increa8elldecrease in debtors (Decreaselhncrease in ue¢Srtor8 1713) (280.786) 5,686 145,489 Cash absorbod by oporatlons (565.7381 (1,008,008) 28 Anatysls of changes In not funds The ch8rHy had m rnaterial dèbt durirKJ the year.