GRANTHAM ALMSHOUSE CHARITY REPORT AND FINANCIAL STATEMENrs FOR THE YEAR ENDED 31 MARCH 2024 Registered Charity No: 224721
GRANTHAM ALMSHOUSE CHARITY YEAR ENDED 31 MARCH 2024 TRUSTEES Mr G Cook {Chaimian) Mr A Finney (Vice Chaimian) Dr D Roper Rev S Craddii¢k Mr P Towns¢nd Mrs N Famier Mr M Knight Mr C Turner Mr T Harrison ADDRESS 7 Dawsons Almshouses Brook Street Grantham Lincs NG316RT INDEPENDENT EXAMINERS Streets Chartered Accountants Enterprise House 38 Tyndall Court Commerce Road Lyn¢hwood Pet¢rborougli PE2 6LR PROPERTY MANAGEMENT ADVISORS Pigott & Hall 36 West8ate Grantham NG316LY SOLICITORS Ringrose Law 4 St Peter's Hill Grantham Linei NG316QD INVESTMENT MANAGERS Castlegate Financial Management Limil¢d 8 Castlegat¢ Grantham Lincs NG316SE
GRANTHAM ALMSHOUSE CHARITY REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024 The Trustees present their annual report together with the financial statements of the charity for the year from l April 2023 to 31 March 2024. The Annual Reporl serves the purposes of both a Trustees, report and a directors, report. The Trustees confirm that the Annual Report and financial ststements of the charitsble trust ¢omply with the current statutory requirements, th¢ requirements of the charitable company's governing document and the provisions of Ihe Statement of Recommend¢d Practice (SORP) applicable to charities preparing their accounts in accordance with the Financial Reporting St8ndard applicable in the UK and Republic of Ireland (FRS102) (effective l January 2019). Legg1 #ttd Administrntive InformAtion Grantham Almshouse Charity is a registered Charity number 224721 within th¢ jurisdiction of England ld Wales under the Charity Commissioners, Approved Scheme which is dated 14 June 1989. The Principal Office is at 7 Dawson's Almshouses, Brook Street, Grantham, Lincolnshire NG316RT. The trustees during the year under review were: Mr R Wooten (Died August 2023) Mr G Cook (Chairnian) Mr A Finney (Vice Chaimian) Dr D Roper Rev S W Cradduck Mr P Townsend Mr M Knight Mrs N Farnier Mr C Turner Mr T Harrison (appointed 15 December 2023) Administrntive staff during the year were: Mr P HooF¢r (Clerk to the Trustees) Retired October 2023 Mr M Grimwood (Cl¢rk to the Tt7JStees) Appointed l November 202/3 Mr T Copestake (Asst Clerk to the Trustees) Died 26 March 2024 Objeetives and Aetivities; To manage the investments and properties of the Trust and to apply the income of the Charity for the benefit of the residents of th¢ Almshouses. The residents of the Almshouses as Hursts Almshouse. Dawson Almshous¢s, Russell Reads Almshouses and Doroihy Brownlow Almshouses shall be persons aged fifty or above, in need and who (excepl in special cas¢s to be decid¢d by the ¢ommissioners) hav¢ been residents of th¢ area of benefit for at least six months, the area of benefit being defuled as the Diocese of Lincoln, D¢anery of Grantham constituted on the 31 March 1972. The residents of the Almshouses known as Bradley's Almshouses and Miss Farish Almshouses shall be women in need agcd fifty or above, who (except in special cases to be d¢¢ided by th¢ commission¢rs) have be¢n residents of the previously defined area of benefit for at least six months.
GRANTHAM ALMSHOUSE CHARITY STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2024 Unrestricted Endowment Unrestricted Endowment Funds Funds Funds Funds 2024 2024 2023 2023 Notes Illcome Income from ¢haritable activities: Altnshouse maintenance contributions 48.673 49,507 lllcome from other trading 8¢ti1'ities: Investment property rents Investments 89,085 15,624 92,425 9,699 Totsl Income 153J82 151,631 Expenditure Cost of genernling funds Investment prop¢rty maintrnan¢¢ Chthritsble activitie5 41,942 155,595 12,143 117,964 16 Tot•1 expendilur¢ 197537 130,107 Net income before other reeognised g4ins aNd losses Other recogDi5ed gaills alld losses Transfer from restricted funds Transfer to endowmeni funds Gains l (losses) on other investment assets (44,155) 21,524 25,000 33,135 (25,600) Net movement in funds 13,980 (4.076) Reconciliation of funds Total funds brought forward l April 2023 Total funds carried forward 31 March 2024 450,558 4,050,0(bO 454,634 4,050,000 464,538 4,050,000 450,558 4,050,000 Th¢ ststetnent of financial tIvitIeS includes all gains and losses recognised in the year. All income and expenditure derive from continuing activiti¢s.
GRANTHAM ALMSHOUSE CHARITY INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF G114NTHAM ALMSHOUSE CHAIUTY FOR THE YEAR ENDED 31 MARCH 2024 I report to the trustees on my examination of the accounts of the above charity for the year ended 31 March 2024. Re$ponsibilities Basis of Report As the trustees of the Charity you are respoiisible for the preparation of the accounts in accordance w'ith the requirements of the Charities Act 2011 ('th¢ 201 l Act,). I report in respect of my examination of the Cliarity's accounts carried out under section 145 of the 2011 Act and in carrying out my examination I have followed the applicable Directions given by the Charity Commission und¢r section 145{5)(b) of the Act. Independent Ex*mlner's Statement have completed Iny examination. l confimi that no material matters have ¢ome to my attention in connection with the examination which gives me cause to believe that in any material respect.. a¢counling records were not kept in respect of the Charity as required by section 130 of the Act. or 2. the accounts do not accord witli those records. or the accounts do not comply wilh the applicable requirements con¢¢rning the form and content of a¢counts set out in the Charilies (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a 'true and fair, view which is not a matter Considered as part of an ind¢p¢ndent examination. I have no coiicerns and have ¢om¢ across no other matters in connection with the examination to whi¢h attention should be drawn in this report in order to enable a proper understandin8 of the accounts to be reached. This report is made solely to the Charity's Trustees. as a body. in accordaiice with Part 4 of the Charities {Accouiits and Reports) Regulations 2008. My work has b¢en undertaken so that I might slal¢ to th¢ Charity'5 Trustees those matters l am requir¢d to stale to them in an Independent Examiner's Report and for no other purpose. To the fullest extent pemiitfrd by law, I do not acc¢pt or assume responsibility to anyon¢ other than the Charity and the Charity's Trustees as a body, for my work or for this report. Jonathan D8y BA (Hons) FCA Streets Chartered Accountants, Enterprise House, 38 Tyndall Court, Commerce Road, Lynchwood, Pelerborough. PE2 6LR Dale..
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024 seleci Suitable accounting policies and then apply them consistentlyy observe the methods and principles of the Charities SORP (FRS 102). make judgments and accounting estimates that are reasorkable and prudent. stale whether applicable UK Accounting Standards (FRS 102) have been followed. subject to any material departures disclosed and explained iii the financial statements. prepare the financial statements on the going concern basis unless il is inappropriate to presume that the Charity will ¢ontinu¢ in business. The Trustees are responsible for keeping adequate accounting records that are suffici¢nt to show and explain the Charity's transactions and disclose with reasonabl¢ accura¢y at any time the financial position of the Charity and enable them to ensure that th¢ financial statements comply with the Charities Act 2011, the Charity (Accounts and Reports) Regulaiions 2008 and the provisions of the Trust deed. They ar¢ also responsible for safeguarding ihe assets of the Charity and hence for taking r¢asonabl¢ steps for the prevention and detection of fraud and otli¢r irregulariti¢s. Independent examillers Streets Chartered Accountanls, are willing to ¢ontinue in olee and a resolution to re-appoint them will be proposed al the annual general meeting. Approved by the Irustees on d signed on their behalf by= Mr G Cook Ch8ir of Trustees
GRANTHAM ALMSHOUSE CHARITY REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024 Structure governauce and management a) Methods of &PPOiDtment or election of Trustees Where vacancies for Trustees arise. new Trustees will b¢ selected and appoinled in accordance with th¢ tenns of the Charity Commissioners, Schem¢ which includes provisions for the appointment of a nominated Trustee by South Kesteven Dislri¢t Council and of three ex 0[ClO Trustees who are the Rector and Churchwardens of the ¢cclesiastical parish of St Wulfram, Graiitham. b) Policies adopted for tbe illduction and training of Trustees All Trustees coiifom) to the Code of Governance for Almshouse Charili¢s and newly appointed Trustees must conforni to the Code of Good Governance for the Voluntary and Community Se¢lor before commencing their tenur¢. c) Orgni$ation41 Structure 8Dd deeision-m&king policies The Trust¢es. led by a Chairman and Vice Chaimian have held four committee meeiings in the past year, including the AGM. They make decisions with regard to th¢ Charity's operational requireinenls and investments. d) Pay policy for key management penonnel Trustees revi¢w pay policy aEtnually for key management personnel. e) Related party relAiion$hips Trustees are required at each meetin8 to state if they have any related party relationships to declare. Financial risk management The Trustees are am'are of the risks to financial inv¢stments made by the Charity and engag¢ a qualified Independent Financial Advisor to guide the Charity Trustees in any financial de¢isions. StAtement of Trustees, responsibilities The Trustees responsible for pr¢paring the Trustees, Report and the financial statements in a¢¢ordance with applicabl¢ law and United Kingdom Accounting Standards (Unit¢d Kingdom Generally Accepted Accounting Practice). The law applicable to charities in England & Wales r¢quires the Trusl¢¢s to prepare financial statem¢nts for each financial which give a true and fair view of the stale of affairs of the Charity and of its incoming resources and application of resources, including its income and expenditwe, for that period. In preparing these financial statements, the Trustees are requir¢d lo: GRANTHAM ALMSHOUSE CHARITY
become necessary. We aim lo maximis¢ reiurns on the invested reserves, subject to advice received from our Independent Fii)ancial Adviser, who currently is Castlegat¢ Financial Management Ltd., 8 Castlcgale, Grantham. Lincolnshire NG316SE. The Reserves held in the COEF account at the end of 202312024 are £S3,632 from £l13.801. the decrease reflecting lh¢ additional trajisfers to oiir curr¢nt a¢count used for extensive repairs to our commercial and almshouse properties. li)terest of £4,831 was a¢crued during the year. Reserves taken from COIF {£60k) were used for the General repair fund and the Extra Ordinary Repair fund, and at the start of ?02312024 an additional suni of £65,000 had Ixen been set aside for us¢ during the nexi financial year. Entering 2023. investors were w'orried about inflation and a potential recession in the second half of the year. However 2023 was a much-needed recoi'ery. for both stocks and bonds. This was thanks to a strong econornyy better than expected corporate earnings and an end to the interest rat¢ hikes. T¢ch and groM¢h stocks especially benefited as did th¢ rise of Al fechnologies. Global stock markets saw significant gains in QI of 2024 due to the resilient US ¢¢onomy and again around ihe ¢x¢itement of Al. Expectations of inter¢st rate cuts also b(x)sted stocks, though the pace of these cuts may slower than initially hoped. With reference to the underlying investments, the Aegon A¢eount has increased during th¢ 23124 tax y¢ar from £372,498 10 £400,132, representing a 7.41 /0 increase. The Quilter Account had increaged from £121,257 to £135,336, representing an increase of 11.6 10/0. The Quilter A¢oount has increased more du¢ to its focus on sustainable investments. whi¢h has more of a leanin8 towards l¢¢hnology stocks, which as mentioned above had b¢nefited from the current economic conditions. b) Going eoncer The trust¢es have a reasonable ¢xp¢ctation that th¢ charity has adequate resources to ¢ontinu¢ in operational existence for the foreseeable future. For this r¢ason, they ¢ontinue adopt the going wncern basis in preparing the financial statements.
GRAwfHAM ALMSHOUSE CHARITY REPORT OF THE TRUSTEES FOR THE YEAR EIYDED 31 MARCH 2024 The Trustees have had regard to the Charity Commissioners, guidance on public benefit where applicable to the Trust. Review of Achievements and Performance 2023n024 All Trust¢¢s confom to the Code of Governan¢¢ for Almshouse Charities and new'ly appointed Truste¢s tnust confomi to the Code of Good Governance for the Voluntary and Community Sector before commencing their t¢nure. The Trustees led by a Chairn]an and Vice Chaimian have held four committee meetings in the past y¢ar, including the AGM. TEiey mak¢ d¢cisioiis with regard to the Charity's operational requirements and investments. Trustees review pay policy annually for key managem¢nl personnel. Trustees are required at each meeting to state if they have any r¢lated paty latiOnshipS to declare. The Tntstees are aware of the risks to financial investments made by the Charity and engage a qualified Independent Financial Adviser to guide the Charity Trust¢¢s in any financial decisions. The sub_¢ommittee of Trustees charged with a continuing review of operations and in accordance with the requirements of SORP (Statement of R¢¢omEnended Praclice) have made no new recommendations during the year. The Annual Survey of Residents took place during August 2024 with a 74% response from residents and the average satisfaction rating was 950/0. with univcrsal praise for the work done by our Clerk and Assistant Clerk. Trustees continue to reviewed the process to ¢mphasise the importance of our Stakeholders Survey which will continue throughout the year. Our residents Continue to benefit from regular daily contact and maintenance requiffments from our Clerk to Trustees and his team. The SORP committee will continue to seek operational improvements where appropriate. In the year w¢ have made extensive repairs to 2 list¢d buildings paying parti¢ular ati¢ntion to roofs and chimney stacks. Ther¢ were 2 vacant flats al the etkd of 202312024 following the trarksfer of a resident to another almshouse which became vacant and s¢rvin¥ a notice to quit on one resid¢nt. The Trustees revi¢wed the maintenance charges set for the almshouse residents and det¢m)ined that no change needed to b¢ made other than increases to heating and lighting on renewing utility contracts. A preliminary survey of all almshouses has revealed that we needed io carry out substantial work to enable ¢omplian¢e with BS 5839 Fire Del¢ction and Fire Alami Systems for Buildings. This work has b¢¢n Caled out in accordance the regulations in 6 properties, other small properties in the charity do not forn) part of the regulation. a) Flnanclal Review The financial policy is that a General Cyclical Fund is maintained to cover the ongoing Costs of necessary maintenan¢e, repair and improvements to the almshouses and other properties and an Extra Ordinary Repair fund, wliich is a res¢rv¢ fund to provide for the extraordinary repair, improvement or rebuilding of the almshouses and other buildin8s of th¢ Charity, should that
GRANTHAM ALMSHOUSE CHARITY BALANCE SHEET AS AT 31 MARCH 2024 Notes 2024 2024 2023 2023 FIXED ASSETS Almshouses Inv¢shnent property Other investments 1,810,001 2,240,000 547,677 1,810,000 2,240,000 503,387 4,597,677 4,553,387 CURREIYT ASSETS Debiors Investments Cash al bank and in hand 10,079 53,632 11,109 74,820 3,108 13,801 10 130.250 CREDITORS: Amounts falling due within one year 2,160 2,280 NET CURRENT ASSETS 72,6(A) 127,970 NET ASSETS FUNDS 4,670 J37 4,681.357 Endowment funds Restricted reserves Unrestricted reserves 15 14 4,050,0(MJ 155,799 464,538 4,050,000 180,799 450,558 TOTAL CHARITY FufADS 4,670J37 4,681,357 Approved by the Trustees on 4nd signed oll their behalf by: Mr A Fillney- Trustee MrGC Trustee Date:
GRANTHAM ALMSHOUSE CHARITY NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 I. ACCOUNTING POLICIES The principal accounting policies adopted, judgements and key sources of estimation uncertainty in the prepardtion of the finan¢ial statements are as follows.. (a) Basis of preparation The financial statetnents have been prepared in accordance with the Charities SORP (FRS 102) - Accounting and R¢porting by Charilies: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republi¢ of Ireland (FRS 102) (eff¢ctive l January 2015). the Financial Reporting Standard applicable in the UK and Republic of Ireland {FRS 102) and the Charities Act 2011. Graniham Almshouse Charity meets the definition of a public benefit entity under FRS102. Assets and liabilities are initially r¢¢ognised at hisiorical Cost or transaotion valu¢ unless otherwise stat. {b) Income Incom¢ is recognised when the charity has entitl¢ment to the funds and represents maintenanee contributions receivable, interest from investment incom¢ and rents received from investment properties. (¢) Exp¢nditure recognition Liabilities are recognised as expenditure as soon as there is a legal or constru¢tive obligation eommirting the charity to that expenditure, it is probabl¢ that settlement will be r¢quired and th¢ amount of the obligation Can be measured liably. All expenditure is accounted for on ark accruals basis. All expenses, including support costs and governance costs, ar¢ allocated or apportioned to the appli¢able expenditure headings in the statement of financial activities. (d) Charitable prop¢rti¢s The charitable properties comprised in the Grantham Almshouse Charity now provide 39 units estsblished originally by six charitable trusts dating from the seventeenth century, together with eight further properties. These properties are r¢valtsed periodically at open market valu¢. All surpluses or deficits are taken directly to reserves except that any permai)ent diminulion in value of the investm¢nt property is taken to the Statement of Financial Activities for the year. No depreciation is charged.
GRAwfHAM ALMSHOUSE CHAIUTY NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 (e) Investment Properties Investment properties are revalued periodically at open market value. All surpluses or deficits are taken directly to reserves except that any pemianent diminution in value of the investmeni property is taken to the Statement of Financial Artivities for the year. No depreciation is charged. (D Other fixed assets Individual fixed assets other than charitsble and investment properties are capitalised at cost and depreciated over th¢ir useful economic lives on a straight line basis. (g) Other investments Investments are revalued at mark¢t value at the balance sheet date and the aggregate surplus or deficit is included in the Statement of Financial Activities. (h) Cyclical repairs and maintenance The Charity has established a regular programine of cyclical repairs and maintenance. Costs ar¢ charged to the re.enue account in the year in whi¢h they are incurr¢d. (i) Financial instruments Basic financial instruinents are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, finBncial liabilities or eqLEity inslruments. O) Extraordinary repairs Costs of extraordinary repairs, unless representing improvemenls to the properties, are charged to the revenue account in the }'ear in which they are incurred. (k) Cyclical Repairs and Maintenance and Extraordinary Repairs Reserwes These reserves represent amounts set aside for cyclical maintenance to m¢et costs in excess of budgeted ¢xpenditure and amounis set aside lo carry out major repairs on housin8 properties. 10
GRANfHAM ALMSHOUSE CHARITY NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 (l) Value Added TRX The Charity is not registered for value added tsx. In these finan¢ial statemettts, where applicable. expenditure is shown inclusive of Value Added T. (m) Taxation All income and gains have been, or will be, applied for charitable purposes. As a consequence, t])e ¢harity's income is not subject to taxation. TRUSTEES AND EMPLOYEES 2024 2023 The average weekly number of persons (in¢luding the Clerk to the Trustees) employed during the year was: Stsff costs (for ihe alx)v¢ persons) Wages and s&lari¢s The trustee5 have not received or obtained any remuneration or other financial benefits for the year directly or indirectly from the charity's funds. INVESTMENT INCOME 2024 2023 Charities Official Investtnent Fund Int¢st 4,831 2,094 Investment Dividends and Interest 6.958 9,052 15,624 TAXATIOLY GraT]tham Almshouse Charity is meet the definilion of a Charity for UK Corporation tax purposes. Accordingly, the ¢harity is polentially exempt from t&xation in re$t of income or capiial gains received to the ¢xtent tl)at such income or gains ar¢ applied exclusively to charitable purrM)ses.
GRANTHAM ALMSHOUSK CHARITY NOTES TO THE FIYJ ANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 ALMSHOUSE RESIDENTIAL PROPERTY Freehold Land & Buildings Total Valuation Revaluations Cost or Revalued amount 1,810,000 1,810,000 I,810,000 1010,000 The Almshouses were v&liied for the purposes of the accounts for ihe year ended 31 March 2022 by Pigott & Hall. Estate Agents at market value. The Trustees consider this to be a fair reflection of the current valu¢. INVESTMENT PROPERTY Investment property Total Cost or Revalued amount Revaluations Cost or Rewalued amount 2,240,000 2,240.000 2,240,000 2240,000 The investment property was revalued for the purposes of the a¢couniS for the year ended 3 I March 2022 by Pigott & Hall, Estat¢ Agenis at mark¢t value. The Trust¢¢s consider this to be a fair reflection of the current value. 12
GRANTHAM ALMSHOUSE CHARITY NOTES TO THE FINANCIAL STATEMEiYrs FOR THE YEAR ENDED 31 MARCH 2024 7. OTHER INVESTMELYTS 2024 2023 Quilt¢r Inveslmenl Fund National Association of Almshouses Common Inveslm¢nt Fund A¢8on Unit Trusts 137,232 7.175 121.127 8,497 403.270 373,763 547,677 503,387 DEBTORS 2024 2023 Prepayments 10,079 CURRENT ASSETS INVESTMENrs 2024 2023 Deposit Account: Charities Official Investment Fund 53,632 113801 io. CASH AT BANK AND IN HAND 2024 2023 Curr¢nt account Petty Cash 10,816 292 13.341 CREDITORS: Amounts falling due within one ye4r 2024 2023 Accrued expenses 2,160 1.815 Taxation social security 465 2,280 13
GRANTHAM ALMSHOUSE CHARITY NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 13. MOVEMENT IN FUNDS CYCLICAL REPAIRS AND MAiwfENANCE AND XTRAORDINARY REPAIR RESERVE Cyclical Exlraordinary Repairs and Repair Rerve Maintenanee Reserve Total Balance at l April 2023 Transfer.. Income ai)d expenditure account 1 51,437 69.362 180,799 (25,000) (25,000) BaliiD¢e At 31 M4reb 2024 111.437 44a62 155 799 14. MOVEMENf IN FUNDS ENDOWMENT FUND Endoiyment Fund Totsl Balance at l April 20?3 Revaluation of property 4,050,000 4,050,000 Balance Vdt 31 MArch 2024 4,050,IY)O 14
GRANTHAM ALMSHOUSE CHARITY NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 15. RELATED PARTIES No transactions witli related parties wer¢ undertakett such as are required to be disclosed. 16. CHARITABLE EXPENDITURE Charitable Activities 2024 Support Costs 2024 Charitsble Activities Support Costs 2023 2023 Day to day maintenance Extraordinarylcyclical maintenance Clerk's Honorarium Assisiant to the Clerk's Honorarium Wages Rent and rdtes Insurane¢ Light and heat Garden maintenance Post, telephone and station¢ry Legal and professional fees Accountan¢y fees Estate agents fees Sundry expenses lllt¢rcom monitorinlIfe11nC Residents voucherslparty Depreciation 31,915 16,818 19,184 21,334 22,769 18,865 12,510 864 712 4,873 23,270 10.122 8,580 829 4.207 4,040 10,066 8.602 1,021 11,196 2,145 7,533 2.638 381 2.300 1,815 7,273 4.572 4.787 1,491 4.654 2.193 131,062 101623 15
GRANTHAM ALMSHOUSE CHARITY SIMPLIFIED INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 MARCH 2024 2024 2024 2023 2023 CoLE Almshouse maintenance Contributions Interest Donations Grant income Investment income Investment properties 48,673 49,507 9,571 4.863 6,053 89,085 4,836 153,382 151,631 LESS EXPENSES Clerk's Honorarium Assisiant to ihe Clerk's Honorarium Wages Rent and rates Light and heat Insurance Postage, i¢lephone and slationery Day to daj maintenance Liteline fees Extraordinary maint¢nance Inveshn¢nt property maintenance and insurance Garden m&intenan¢¢ Legal and professional fees Accountancy fees Estaie agents fees Sundries Depreciation 21.334 18,865 12,510 864 712 23,270 4,873 8,580 828 4.207 10,066 4,040 1,021 31,915 4,787 19,184 381 16,818 4,654 22.769 41.942 10.l22 11,196 2,145 7,533 4.129 12,143 8,602 2,300 1,815 7,273 6,765 197,537 130,106 Surplus or (deficit) for the year This page does not forni part of the Statutory Aceoullts. These simplified 8CCOUDls mydy not con¢#in sufficient information to allow for a full understanding of the financial atT#irs of the Charity. For further understanding the full annual accounts, the Independent Examiners Report and the Trustees Annual Report should be Consulted. 16