The charity’s objective is the provision of Grade II Listed, two-bedroom, Almshouse Accommodation in Wilshaw to benefit low-income tenants. Monthly maintenance contributions were first introduced in 2014 to help fund the cost of all internal and external repairs. This charge will increase on 1[st] July 2025 from £465 to £525 per month in line with the equivalent fair rent rate. The Trustees confirm that they have had regard to the guidance contained in the Charity Commission's general guidance on public benefit when reviewing the Trust's aims and objectives and when planning their activities The Trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the Charity should undertake. TEHT successfully collected all maintenance charges during the year and continue to maintain all properties to a good standard. No major work is planned for the coming year. There will be general maintenance work carried out as and when required to continually improve the properties. The Eleanor Hirst Trust Registered Charity no 224048 Annual Report and Financial Statements Year Ended 26 April 2025 ESTATE OFFICE GATE 7 MELTHAM MILLS HOLMFIRTH HD9 4AR Contents Trustees. Annual Report Page I Statement of Trustees, Responsibilities Page 3 Statement of Financial Activities Page 4 Balance Sheet Page S Notes to Accounts Page 6 Trustees, Annual Re ort for the ear ended 26 A ril 2025 The Trustees present their annual report together with the financial statements of The Eleanor Hirst Trust for the year ended 26 April 2025. The financial staternent5 have been prepared in accordance with Accounting and Reporting by Charities.. Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFR51021 leffettive l January 20151 (amended 2 February 20161 as detailed in the accounting policies. ObjectNes and Activities The charity's objective is the provision of Grade 11 Listed. two-bedroom. Almshouse Accommodation in Wilshaw to benefit low-income tenants. Monthly maintenance contributions were first introduced in 2014 to help fund the cost of all internal and external repairs. This charge increased on I. July 2024 from £425 to £460 per month nearer the equivalent fair rent rate. The Trustee5 have communicated to residents that the maintenance charge will be £525 from July 2025. The Trustees confirrn that they have had regard to the guidante contained in the Charity Commission's general guidance on public benefit when reviewing the Trust's aims and objectives and when planning their activities. The Trustees have paid due regard to guid3nce issued by the Charity Commission in deciding what activities the Charity should undertake. Achievements and Performance TEHT successfully collected all maintenance charges during the year and continue to maintain all properties to a good Standard. No major work was carried out within the year. Plans for Future perlod5 No major work 15 planned for the coming year. There will be general maintenance work carried out a5 and when required to continually improve the properties. The Trust Is currently in the process of convertin8 to a Charitable Incorporated Organisation ICIOI subject to approval for the Charity Commission. Flnanclal Revlew Durlng the year maintenance charges of £32,7(K) were received, alon8 Wlth interest income of £288 generated from a new fixed deposit account opened in the year. Total resources of £14,134 were expended resulting in a net profit of £18,854. Main expenditure in the year was repairs and maintenance required for upkeep of the properties. At the balance sheet date the total value of investments was £133.694. A further £5,(MJ) was invested on 25 April 202S and the overall gain was £3.458. The investment is still considered to be the m05t appropriate strategy to generate capital return for the charity. At the year end the trusts total net a55ets were £1,254,934. Structure, Governance and Management The charity's governing document isthe will dated 12 November 1880 as amended by resolution dated 20 March 2016. The charity is an unincorporated charity registered with the Charities Commission on 9 september 1963 under registration number 224048. Trustees, Annual Re ort for the ear ended 26 A ril 2025 Continued The appointment of Trustees is under the control of the Trustees already appointed. No Trustee received any remuneration. The trust is administered by a management committee consisting of all the trustees. which make all policy and executive decisions relating to the trust. A minimum of two ordinary meetings of the trustees are held per year. The trustees who held office during the year and to the date of the report were= Mrs Hilary Livingstone Mr Daniel Bamforth Ms Jean Abel Ms Kate Phillips Rlsk management The Trustees have assessed the major riskstowhich the charity is exposed. in particular those related to the operations and finance5 of the charity and are 5at15fied that Systems are in place to mitigate the exposure to major risk5. Approval This report was approved by the Board of Trustees on 22 MJY 2025 and signed on its behalf bv.. Daniel Bamforth Chalrman Statement of Trustees, accountin and re ortin res onsibilities The Trustees are responsible for preparing the Trustees, Annual Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards Iunited Kingdom Generally Accepted Accounting Practice). The law applicable to charities in England and Wales requires the Trustees to prepare financial Statements for each financial year which give a true and fair view of the State of affairs of the charity and of the incoming resource5 and application of resources of the charity for that period. In preparing these fjnancial statements, the Trustees are required to.. Select suitable accounting policies and then apply them consistentlv- Observe the methods and principals in the Charities SORP.. Make judgements and estimates that are reasonable and prudent: State whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements,. and Prepare the financial statements on the golng concern basls unless it is Inappropriate to presume that the charity will continue in business. The Trustees are responsible for keepin8 proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Charities Act 2011, the Charity (Accounts and Reports) Regulations 2CQ8 and the provisions of the trust deed. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable step5 for the prevention and detection of fraud and other irregularities. The Trustees are responsible for the maintenance and integrity of the charity and financial information included on the charity'5 website. Legislation in the United Kingdom governing the preparation and di55emination of financial statements rnay differ from legislation in other jurisdictions. Statement of Financial Activities For the Year ended 26 A ril 2025 Note Unrestriiled Restricted Endowment Funds Funds Funds 2025 2024 Income from.. Charitable activities Investment income- interest 32,71XI 32,7 29,880 Total Income 32,988 32,988 29,880 Expenditure on: Charitable artivities Other activitie5 14,134 14,134 19,574 Total ex endlture 14,134 14,134 19,574 Net expenditure before other recognlsed galns/{loss•sl I8￿54 18.854 10.306 Gain/lLossl on revaluation of investment Gain/lLossl on revaluation of buildings 3,458 3,458 9,561 390,790 Net lexpendlturelllncome 3,458 3,458 400,351 Gross Transfers between funds Net Movement In Fund$ 18054 3,458 22,312 410,657 Total Funds brought forw3rd 55,385 577,237 6C(J,000 1,232,622 821,964 Total funds Carrled forward 74.239 580.695 600.01)0 1.254.934 1.232.622 The note5 on pages 6 to 11 form part of these accounts. Balance Sheet Asat26A ril 2025 Note 2025 2024 FIMed Assets Tangible assets- Almshouses Tangible assets- Artwork Investments I,097,￿0 15,000 113,694 1,097,0 15,(KK) 105,236 70 Total Fixed Assets 1.225.694 1.217.236 81 Current A55ets Cash at bank and in hand Debtorslprepayments 28,220 1,020 14,968 849 Total Current A$$ets 29,240 15,817 Credltors IAmounts Falllng due wlthln one year) 432 Total assets less current IlabSlltle5 &254.934 l.Z32,622 82 Credltors IAmounts Falllng due after one year) Total net Assets 1,254,934 1,232,622 82 Total funds of the charlty Unrestricted funds Restricted funds Endowrnent 74.239 580,695 5S,385 577,237 17 Total funds 1,254.934 1,232.622 82 The notes on pages 6 to 11 form part of these accounts. Notes to the Accounts for the ear ended 26 A ril 2025 l. Accounting Policies The principal accountin8 policies adopted, judgements and key sources of estimation uncertainty in the preparation of the financial statements are as follows.. Charitsble Informatlon The charity'5 Boverning document 15 the will dated 12 November 1880 as amended by resolution dated 20 March 2016. The charity is an unincorporated charity registered with the Charities Commission on 9 September 1963 under registration number 224048. The charity's prlncipal office address is Estate Office. Gate 7, Meltham Mills, Holmfirth, HD9 4AR to 26 April 2025. Accountlng conventlon The account5 have been prepared in accordance with the Statement of Recommended Practice.. Accounting and Reportin8 by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFR5 1021 issued on 16 July 2014 and the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland IFRS 1021 and the Charities Act 2011 and UK Generally Accepted Practice as It app15es from l January 2015. The Charity is a Public Benefit Entity as defined by FRS 102. The accounts have departed from the Charities IA(counts and Reports) Regu13tion$ 2¢))8 only to the extent required to provide a true and fair view. This departure has involved following the Statement of Recommended Practice for charities applying FRS 102 rather than the version of the Statement of Recommended Prartice which is referred to in the Regulations. but which has since been withdrawn. The accounts are prepared in 5terlin& which is the functional currency of the Charity. Monetary amount5 in these financial statements are rounded to the nearest £. The actounts have been prepared under the historical cost tonvention. Modified to intlude the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value. The prlncipal accounting policies adopted are set out below. Goln8 concern At the time of approving the accounts. the Trustees have a reasonable expectation that the Charity has adequate resources to continue in operational existence for the foreseeable future. Thu5. the Trustees continue to adopt the going concern basis of accountinB in preparing the accounts. Charitsble funds Unrestricted funds are available for use at the (liscretion of the Trustees in furtherance of their tharitable objectives unless the funds have been designated for other purposes. Restricted funds are subject to specific conditions by donors Js to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the accounts. Permanent endowment funds are subject to specific conditions by donors that the capital must be maintained by the Charity. Notes to the Accounts for the ear ended 26 A ril 2025 Continued Income Income is recognised when the Charity 15 legally entitled to it after any performance conditions have been met, the amounts can be measured reliably. and it IS Probable that income will be received. Income represent5 maintenance charge5 received together with any interest accrued and is recognised over the period to which it relate5. Expendlture Liabilities are recognised as soon as there is a leBal or constructive obligation committing the charity to the expenditure. All expenditure is accounted for inclusive of irrecoverable VATon an accrual ba515 and has been cla55ified under headings that aggregate all costs relatetl to the category. Tangible fixed assets Tangible fixed assets, whith comprise the housing properties and artefacts, are measured at fair value as at 26 April 2025. Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases.. Freehold buildings and improvements Artefacts/Artwork Freehold land 2% strai8ht line basis 2% straight line basis Not depreciated The Trustees consider that the residual value of both the freehold property and artefacts owned by the charity is at least equal to cost, as a result no depreciation has been provided during the year. Impalrment of flxed a55ets At each reporting end date, the Charity reviews the carrying amounis of its tangible and intangible assets to determine whether there Is any indication that those assets have suffered an impairment loss. If any such indication exlsts, the recoverable amount of the asset is estimated in order to determine the extent of the impairment 1055 Ilf any). Recoverable amount is the higher of fairvalue less costs to sell and value in use. In assessin8value in use. the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted. If the recoverable amount of an asset is estimated to be less than it's carrying amount, the carrying amount of the asset is reduced to its recoverable amount. An impairment loss is recognised immediately in income/lexpenditurel for the year, unle55 the relevant asset 15 carried at a revalued amount, in which case the impairment105S 15 treated as a revaluation decrease. Recognised impairment10sses are reversed if, and only if, the reasons for the impairment loss have ¢ea5ed to apply. Where an impairment loss subsequently reverses, the carrying amount of the asset is increased to the revised estimate of its recoverable amount, but 50 that the increased carrying amount does not exceed the carrying amount that would have been determined had no impairment loss been recognised for the asset in prior years. A reversal of an impairment loss is recognised immediately, unless the relevant asset is carried in at a revalued amount, in which case the reversèl of the impairment loss is treated 3$ 3 revaluation increase. Notes to the Accounts for the ear ended 26 A ril 2025 Continued FSnancSal Snstruments The charity has elected to apply the provisions of Section 11 'Basic Financial Instruments, and Sertion 12 '0ther Financial Instruments Issues, of FRS 102 to all of its financial instruments. The Charity only has financial assets and liabilities of a kind that qualify as basic financial instruments in accordance with section 11 of FRS 102. Basic financial instrument5 are initially recognised at transaction value and are subsequently measured at their settlement value. The Trust does not acquire put options, derivatives, or other complex financial instruments. Cash at bank and In hand Cash at bank and cash in hand includes cash and short term highly liquid investments with a short maturity held for working capital. Credltors, loans and provSslons Creditors, loans and provisions are recognised where the Charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the 3mount due to settle the obligation can be measured or estimated reliably. Creditors. loans and provisions are nornially recognised at their settlement amount after allowing for any trade discounts due. Financial liabilities are derecognised when, and only when, obligations are discharged, cancelled or they expire. Taxatlon As a recognised charity, the Eleanor Hirst Trust is exempt from taxation on its surpluses $0 far as they relate to its tharitable objectives. It is not, however, exempt from VAT, and irrecoverable VAT is included in the cost of those item5 to which it relates. Crltlcal accountlng estlmates and ludgements In the application of the charity's accounting policies, the Trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates. The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised, if the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods. The Trustee5 havejudged that there are no estimates or assumptions which have a significant risk of causing a material adjustment to the carrying amount of asset5 ènd liabilities. Notes to the Accounts for the ear ended 26 A ril 2025 Continued 2. Income from charitable activity 2025 2024 Maintenance charges 32,7(Kl 29,880 32,700 29,880 All income in the current and Previou5 financial year wa5 unrestricted. 3. Expenditure on charitable activity 2025 2024 Insurance Repairs and maintenance Legal and professional IT Software and Equipment Market5ng General 1,428 6,913 4,057 311 1,440 5,074 11,940 158 1,425 14,134 962 19,574 There were no staff employed by the charity12024- no staff employed). The Trustees are unpaid and did not receive any benefits or expenses from the charity in the year12024- £nill. 4. Income from other artlvltles 2025 2024 Interest income 288 288 Interest income was generated from a fixed term deposit account set up in May 2024. 5. Investment5 The trust held an investment in the Vanguard Life Strategy 80% Equity fund. This hjnd seeks to hold investments that will pay out money and increase in value through a portfolio comprising approximately 80% shares and 20% bonds and other similar fixed income investments. The fund is in line with the agreed attitude to risk of the Trustees (Medium Highl and it has a low-cost Ongoing Charge Figure of 0.26%. Over the last 6 years, this fund has consistently outperformed its sector. The investment is held in a General Investment Account with Nucleus. Nucleus are the lowest cost provider that offer the required functionality. They charge 0.35%. Succession Wealth Iwas G+E Wealth Management) initially advised on the investment. In January 2025 BHP Financial Planning were appoirrted and will review the investment annually for a fee of 0.75%. Notes to the Accounts for the ear ended 26 A ril 2025 Continued 2025 2024 Valuation brought forward Additions at cost Disposal proceeds Change in market value ValuatSon carried forward 105,236 90,675 5,000 3,458 113.694 9,561 105,236 6. Tan8lble flxed assets 2025 Property £'s 1.112.( 2025 Artelacts £'s 2024 Propèrty £'s 721.210 390,790 2024 Artefacts £'s 20 Total 721,2 Cost brought forward Additions Disposals Cost carrled forward 1.112,¢J)O 1.112.000 721,2 Depreciatlon brought forwaril Depreciation charge De reciation on disposals Deprecatlon carrled forward Book value Carrled forward 1.112.000 1.112.000 721,2 Tangible fixed assets, which comprisethe permanently endowed housin8 properties and artwork, are measured at the fair value as at 26 April 2025. 7. Flnanclal Instruments 2025 2024 CarrySng amount of financlal assets: Financial assets measured at amortised cost 29,240 15,817 CarryinB amount of financial liabilities: Financial assets measured at amortised cost 14321 Notes to the Accounts for the ear ended 26 A ril 2025 Continued 8. Movement in funds For the year ended 26 April 2025 Balance brought forward Income Expenditure Gains I (Losses) Transfer5 8alance carried fon¥ard Permanent endowment Restricted funds Unrestricted funds Total funds 600,000 580,695 74,239 1.254.934 577.237 55.38S 1.232.622 3,458 32.988 32.988 114,1341 119.5741 400.351 For the year ended 26 Aprll 2024 Balance brought forward Income Expendlture Galns / (Losses) Transfers Balance carrled fonvard Permanent endowment Restricted funds Unrestricted funds Total funds 6C￿,000 577,237 55,385 1,232,622 176,885 45,080 821,965 400,351 29,880 29,880 119,5741 19,574 400,351 9. Net assets between funds A$ at 26 Ap￿1 2025 Flxed Assets Current Assets Total 2025 Permanent endowment Restricted funds Unrestricted fund5 Total funds 600,000 580,695 74,239 1,254,934 580,695 74,239 74,239 1,180,695 As at 26 Aprtl 2024 Flxed Assets Current Assets Total 2024 Permanent endowment Restritted funds Unrestricted funds Total funds 600,000 577,237 55,385 1,232,622 S77,237 55,385 55.385 1.177.237 10. Related party transactions Towndoor knmited Durin8 the year, the trust received recharges for expenses and time incurred of maintenance and support staff amounting to £6,402 from Towndoor Limited, 3 company owned by the Chairman. Towndoor's involvement will cease at 26 April 2025. Eleanor Hirst Trust accounts 2025 Final Audit Report 2025-05-22 Created.. 202M&22 By.. Kelly er05ter I tIM￿j￿.￿.uk1 Status.. &gned Transaction 10.. c8JcHBC￿BAAcY8chClalh[2asfv¥OYZMMa6B1￿0￿K "Eleanor Hirst Trust accounts 2025" History Document created by Kelly Broster Ikb@lowndoor.co.uk) 2025.0>22. 6..05..59 PM GMT- IP ￿dress.. 145.224.90.54 . Document emailed lo dan@lehLco.uk for signature 2025-05-22- 6."06."37 PM GMT Email viewed by dan@teht.w.uk 2025.05-22. 6'.06'.54 PM GMT- IP addr￿." 88.97.11.115 Signer dan@lehl.co.uk entered name al signing as Dan Bamforth 2025.0>22. 6..07..25 PM GMT. IP *Jdre5s'. 104.28.40.85 Document e-signed by Dan Bamforth {dan@teht.co.ukl s￿nature Date., 202>05-22- 6..07..27 PM GMT- Time SourL*.' IP adross.. 104.28.40.85 Agreement completed. 2025-05-22- 6..07..27 PM GMT (*jTowndoor A