GRA Tr4THAM ALMSHOUSE CHARITY REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 Registered tharity No.. 224721
GRANTHAM ALMSHOUSE CHARITY YEAR ENDED JI MARCH 2025 TRUSTEES Mr G Cook Ichairnian) Mr A Finney {Vi¢e Chairnian) Dr D Roper Rev S Cradduck Mr P Townsend Mrs N Farmer Mr M Knight Mr C Turner Mr T Harrison ADDRESS 7 Dawsons Almshouses Brook Street GTaniham Lincs NG316RT IP4DEPENDENT EXAMINERS Streets Enterprise House 38 Tyndall Court Conimerce Road Lynchwood Peterborough PE2 6LR PROPERTY MANAGEMENT ADVISOILS Pigott & Hall 36 Westgai¢ Grantham NG316LY SOLICITORS Ringrose Law 4 St Peter's Hill Grantham Lillcs NG316QD INVESTMENT MANAGERS Castlegate Financial Management Limited 8 Casrlegate Grantl)am Linc5 NG316SE
GIL4NTHAM ALMSHOUSE CHARITY FOR THE YEAR ENDED 31 MARCH 2025 INDEX TO FINANCIAL STATEMENTS Pagt No. Report of the Ti'usÉees Report of the Independent ExamiELers Statement of Financial Aaiviti¢s Balance Sheet 10- 17 Notes to Ilie Fillanci Stat¢ments
GRANTHAM ALMSHOUSE CHARITY REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2025 The Trustees pr¢s¢nttheir annual report together with the fJnatLcial siatemefits of the chariry for the year from l April 2024 to 31 March 2025. The Annual Report serves the purposes of both a Trustees, report and a directo, report. The Tru5t¢e% confimj that the Annual R¢F<)rt and financial statemenis of the charitable trust comply with the current 5taiutory requirements, the requiremenis of the charithble company's governing documeni and the provisions of the Stateinent of R¢commended Practice (SORPI applicable to charities preparing their accounts in aLcordanee witli the Financial Reporiing Stsndard applicable in the UK and Republic of Ireland {FRSI 021 (effective l January 20191. lgaI and Administrative InfornJ#tion Grantham Almshouse Chariry is a registered Charity number 224721 within tlie jurisdiction of England and Wales under the Charity CommissioneTS' Approved Scheme which is daied 14 Jui)e 1989. The Principal Office is ai 7 Dawson's Almshouses. Brook StreeL Graniham. Lin¢oln5hire NG31 6RT. The truste¢s during the year under review were.. Mr G Cok IChaim)an) Mr A Finney {Vice Chaimianl Dr D Roper R¢v S W Cradduck Mr P Townsend Mr M light Mrs N Farmer Mr C Turner Mr T Horrison Administrative staff during the year were-. Mr M Grimw(K)d (Clerk to the Trustees) ObJeetivtS and activitie$. To manage the illvestments and proFKrti¢s of the Trust and to apply the income tsf the Charity for tlie ben¢fit of tlie residents of the Almshouses. The residenis of the Almshouses known as Hursts Almshouse. Dawson Altnshouses, Russell Reads Almshouses and Dorothy Bromnlow Almshouses shall be person5 aged fifty or above. in need and M,ho lexcepi in special ca5e5 to be decided by th¢ commissioners) have been residents of the area ofbenefit for at least six months. the area of benefii king defined as the Dioces¢ of Lincoln, Deanery of Grdntham constituied on the 31 Marth 1972. The residents of th¢ Almshouses known &8 Bmdley's Almshouses and Miss Farish Almshouses shall be women in need 2ged fify or above, who lexeepi in special cases io be decided by the commissioner5) have been residents of the previously defined area of benefii for at least six months.
GRAf4THAM ALMSHOUSE CHAIUTY REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2025 The Trustees have had regard to the Charity Commissioners, guidance on public benefit where applicable to the Tn]st. view of Achiev nt5 #nd Performan 2412025 All Trusiee5 confomi io the Code of Governance for Almshouse Chariiies and newly appointed Trustees musi confomi 10 the Code of Good Govemance for ihe Voluntary and Comn)unity SeCr before cotnmen¢ing their tenure. The TrusTres led by a Chairnian and Vice Chairman have held four commillee meeiings in the past year, including Ihe AGM. They make decision5 with regard ihe Charity's operational requirements and investments. Trustees review pay policy annually for key managemeni personnel. Trustees are required at each meeLltig to stste if they have any related party relationships to declare. The Trustees are aware of the risk5 to fJnan¢ial investments made by ihe Chlty and engage a qualified Independenr Financial Adviser to guide the Charity Tn]5tees in any financial deci51011S. Upon the retirement of the previous Clerk Peter Hooper, after over 20 years of s¢rvice. and the sad death of previous Asslstant Clerk Terry Copesiake. Mik¢ Grimwood was interviewed by a group of Trustees and subsequently appointed a5 the new Clerk. The Sub-committee of Trustees charged with carrying out a continuing review of operations. policies and practices, in accordance will) ¢he SORP Istaienient of Re¢omniended Practices), have coniinued to do so. No major changes have been enacted during the year iii question, bui the review is ongoing. and changes will be made. as and when appropriate. The Annual Saiisfaction Survey of Almshouse residents was carried out in Au8ilSt ?024. Out of the total of 35 Te5iden(s al th¢ time only 4 did not submit a response and, further enquiry by Trustee5, Rone of these had aoy concerns or issues they wished to raise. The few issues which were raised by tlie respoiidents were minor Inatter5 of main¢¢nance or repair and they were promptly attended to. The survey responses showed almosr universal prai5¢ forthe helpful naiure and etTicien¢y of the new Clerk in dealing wilh matters a5 they arose. and he has also been pro*active in helping residents with opporDJniti¢s to reduce their utility bills. A s¢hen)e of cyclical regular repair and upgradinpjimprovement to the Alrnshouse properties and their gardens has continued includiiig the completion of an extensive scheme of M'orks to upgTad¢ tlie1 io ensure compliance with BS 58i9 Fire D¢teciion and Fire Alarm Sysiems for BL4ildin8s. which followed from a 5urv¢y carried out in the prevLOU5 year 2023-2024. An ongoing major scheme to UP8Tade and improve the Trust'5 Sto¢k of agein8 Commercial properties was also put in place and ¢onrinues. li agreed b}, Trustees that a signifjcant amount of funding towards the cosis of this M'ork. where ir could not be covered by nomial income streams, would bt released IR tranches from ihe Trust's In'¢stMenT Portftslio to enable work to proceed. The work of obiainsng Statutory approvals and comp¢tiiive iendering for the Ivork is CiLrren(ly raking place.
GRANTHAM ALMSHOUSE CHARITY REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 21125 A review of th¢ weekly maintenance charges paid by residents was ¢8rried out and a small incregse. in line with inflation, was a8reed by Trustee5 and put in place. The renial assessments ofthe Trust's Conlmercial properties. in line with current market values, was also carried out by the Trust's Property Advisors and th¢ appropriate increases were agree3d by Trustees and came into effect in September 2024. One or two of the Commercial properties liave nece&sarity r¢mained vacant until the improvement and repair works can be Ctsmpleied. Our Almshouse residents ¢ontiftue io benefit from regular dail), Contact with our Clerk regarding property maintenance or any other issues of ¢oncern. Ther¢ lias been a small turnover of rebidents in the Almshouses but all va¢ancie5 aT¢ filled when availabl¢ and there is a healthy waiting list of applicants to be inr¢rviewed and Considered as vacancies arise. The opportunity is usually taken to updaie any outdated bathroom or kitchen faciliries or other aspects of the accommodation before new residents moY¢ in.
) Finanelal Revlew
The financial policy is that a Genera5 Cy¢li¢al Futkd ts maintained to cover the ongoing costs of necessary mainienan¢e. repair and improvem¢Dts (o the almshouses and o(her properties and an Extra Ordinary Repair filnd, which is a reserve fund to provide for the extraordinary repair. improvemeiit or rebuilding of the almshouses and other buildings of fl)¢ Charity, should thai become n¢cessary. We aim to m&ximise r¢turn5 on the Invested re5eTves, subject ro advice received from our Independeni Financial Adviser, who currently is Castlegate Finwicial Management Ltd., 8 Casilegate. Grantham, Lincolnshi NG316SE. The Reserves held in the COIF account at th¢ end of 2024123 are £30,308 from £53,632, the decrease reflecting th¢ additional transf¢r5 to our current a¢couni used foT continuing repairs to our commercial and almshouse properties. Interest of £1.676 was accrued during the year. Between April 1. 2024, and March 31. 2025, the global economy saw modesigrowth. Inflation eased globally but remain¢d sticky in some regions, leading to divergent central bank poli¢ie5. Trade tensions and uneven recovery patterns has also added to economic uncertainty. Global stock markets delivered mixed results. U.S. equities ini(ially outperfonned, driven by tech giants benefiting from Al advanctn)ent$. However. in early 2025. investor sentiment shifted as U.S. stocks faced selloffs due to inflaiion concerns and slower GDP growth. As of 31 st March 2025. the portfolio was valued at £550,916- an increase of £1 0,414 from its value of £540.502 in April 2024.
GRANfHAM ALMSHOUSE CHARITY REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2025 b) Going toncern The rrustees hav¢ a reasonable expec(ation that the charity has adequate resources to continue in op¢raiional existence for the foreseeable fiJtUTe. For this reason, tliey coniinue io adopt the goinu concern basis in preparing the financial sta¢ement$. Structure. governance and management a) Methods of appolntment or election of Trusiees Where vacancies for frusiees arise. Trustees M'ill be selected and appointed in accordance with t]ie temis of the Thariiy Comn)i5sioners' Scheme which includes provisions for the appoinunent of a nominaied Trustee bs, Souih Kesteven District Council and of three ex offieio Trustees who are the RectOT and Churchwardens of the ecclesiastical P]sh of St Wulfram. Grantham. b) Pollele5 Adopted for tht induetion and training of Trustt All Trustees confortn to the Code of Governance for Almshouse Charities and newly appoiMt¢d Trustees niust confomi to ihe Code of Good Govemance for the Voluntary and Community S¢¢wr before commencing their tenure. c) OrganisatlOn815tructur¢ and decision-making policies The Trustee5. l¢d by a Chairm8n and Vice Chaimian have held four commi¢te¢ me¢ttngs in the past year, includiiig the AGM. They make de¢ision5 with regard LO the Charity's operational requirements and investm¢nis. dl Pay polic), for key managerneni personnel Trustees review pay poltcy annually for key MaaeMen{ personnel. e) Related party rel#tionships Tn]stees are required at each tneeting to State if they have any related paty relationships to d¢¢lare. O Fingn¢ial rl$k m#n%gement The Tru5te¢s are aware of the risks to financial invesiments made by th¢ Charity. and engage a qualified Independeni Finan¢ial Advisor to guide Ihe Charity Trustees in any financial d¢ci51011S. Statement of Tryst¢es' responsibllities The frusrees are responsible for preparing the frustees, Rew)rt and the tinancial statenients in accordance with applicable law and Uniied Kingdom Accounting Standards (United Kingdom Generally A¢cepied Accounting Practice).
GRANTHAM ALMSHOUSE CHARJTY REPORT OF THE TRUSTEES FOR THE YEAR Ef4DED 31 MARCH 2025 The law applicable to charities in England & Wales requires tlie Trustees to prepare financial siat¢ment5 for ¢a¢h financial which give a true and fair view ofthe state of affairs of th¢ Charity and of its incoming resources and appltcation of Tesources, in¢luding its illcome and expenditure, for thar peTiod. In preparing thes¢ financial siai¢ments, the Trustees ar¢ rquired Selt suitable a¢couJting tK)licies and then apply them consistrntly: observe the method5 and prin¢iples of the Charities SORP IFRS 102); make judgments and accounting esiimates that are reasonable and Prudent: state whether applicable UK Ac¢ounting Standards (FRS 102) have been followed, subject to any material departure5 disclosed and explained in the financial statements: prepare the financial statements on the going concern basis unless It is inappropriate to presume that the Charity will continue in business. The Trust¢es are responsible for keeping adequate accouniing records that are sufficient to show ai)d explain Ihe Charity's iransactlOll5 and disclose with rvdsonable accuracy at any lime the flnancial position of the Charity and enable them (o ¢nsur¢ thai the financial statements comply with the Charities Act 201 I, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the Trt deed. They are also responsible for safeguarding the assets of the Charity and hence for kIng r¢&sonable steps for the prevention and detection of fraud Bnd oih¢r irregularities. IndepeDdent examlners Streets ar¢ ivilling to continue in oifice and a resolution to re.appoint them will be proposed at Ilie annual geneTal merfing. Approved by the trustees on and signed on their behalf by: MrG Cook Chair of Trustees
GRANTHAM ALMSHOUSE CHARITY IP4DEPENDEf4T EXAMINER'S REPORT TO THE TRUSTEES OF GtL4NTHAM ALMSHOUSE CHARITY FOR THE YEAR ENDED 31 MARCH 2025 I report to the tru5tee5 on my aMInat[On of th¢ accounts of the above charity for th¢ year ended 31 Maxch 2025. Re5ponsibillti¢s and Basi5 of Report As the irustees of the Chariiy you are responsible for the pr¢pardiion of the accounts in a¢cordan¢e with the requirenients of rhe Cliarities Act ?0 I I I'the 2011 Act'l. report in respect of my examination of tlie Charity's accounts carried our under sectron 145 of (he 2011 Aa and in carrying out my examination I have followed tl)e applicable Dire¢tiotL% given th¢ Charity Commission under section 14515)Ib} of Ihe Aci. Independent Examiner's Statement I have completed my examination. I confirm that no material matters have come to ms, attention iE] connection w'ith the examination which gives me ¢auseto believe that in any material re$pert". a¢counting records were not kept in resped of th¢ Charity as required by section 130 of the Act. or 2. the accoiints do noi accord '1th those records. or the accounts do not comply with the applicable requiremeois concerning the form and ¢ont¢nt of accounts set Oul in the Charities {Accouiit5 and Reporrsl Regulaiions 2008 otheT than any requirement that th¢ accounts give a Irue and fair, view which i5 not a matter considered as part of an independ¢nt examination. I Iiave no concerns and have come across no other mallers in eonneaion wilh the examination to which arteniion 51iould be drawn in rhis report in order to ¢nable a proper understanding of Ihe accounis to be reaclied. This repor( is made solely to the Charity's Trustees. as a body. in accordance with Pari 4 of Ihe Chari¢tes (Accounts and Repons) Regulat10115 2008. My work has been undertaken so Ihai T might state to Ihe Charity's Trustees those matters l am required to state to them in an Independejii Examiner's Report aiid for no other purpose. To tlie fi]Ilest txient pemiitted by law. I do not accept or &8sume responstbility to anyone otherthan rhe Charity and the Ch8riry's Trustees as a body, for my work or for this report. Jonathan Day BA (Hons) FCA Srreets, Enterprise House, 38 Tyndall Court. Commerce Road, Lynchwood, Peltrborough, PE2 6LR Date..
GRANTHAM ALMSHOUSE CHARrrY STATEMErrr OF FINANCIAL AcfIviTIES FOR THE YEAR ENDED 31 MARCH 2025 Unrestricted Endowment Unrestricted Endowment Funds Funds Funds Funds 202S 2024 2024 Notes 2025 Income Income from charitable #ctivities: Almshouse maint¢nance contribution5 SI,3 48,673 Income from other tradÈng activities: Investinellt property rents Inve¥tm¢n15 9t.360 13,640 89,085 15,624 Totsl Income 159.643 153,382 Ezp¢ndlture Cost of generatlDg funds Investment property Inaint¢nance Chsritable aCtitieS 28,444 144.787 41.942 155,595 16 Total expenditure 173,231 197,537 Net incorne before other recoghlsed g?ÉYi$ gnd 10sse5 Other recognised galns And losses Transfer from restricted funds Transfer to endowment funds Gains l {105sesl on oiher investment assets (13,588) 144,155) 25,000 11,0131 33,135 Net movement in funds (14,601) 13,980 RecoD¢iliation of funds Total funds brought forward l Aprll 2024 Totsl funds earned fonvsrd 31 March 2025 464,538 4.050,000 450,558 4,050,000 449,937 4,050,000 464,538 4,050.000 Th¢ 5tstement of financial activities includes all gains and losses recognised in the year. All income and expendiwr¢ derive from ¢oniinuing activities.
GRANTHAM ALMSHOUSE CHARITY BALANCE SHEET AS AT31 MARCH 2025 Notes 202S 2025 2024 2024 FIXED ASSETS Almshouses Investment propet Other investsents 1,810,0 2240,01)0 558.262 1,810,000 2.240.000 547,677 4,608,262 4.597.677 CURRENT ASSETS Debrors Investments Cash ai bank and in hand 14,042 30 J08 10.079 53.632 11,109 74,820 10 49,432 CREDITORS: Amounts falling dve within one year 1958 2.160 NET CURRENT ASSETS 47,474 72,660 NET ASSETS FUNDS Endowment funds Restricted reserves Unrestrickd reserves 4 655 736 4,670.337 15 14 4,ft50,000 155,799 449.937 4,050.000 155.799 464.538 TOTAL CHARITY FUNDS 4.655 736 4 670.337 Approved by the Trustees on and slEned on thelr behalf by: Mr A FÉnney- Trustee Mr G Cook- Trnstte Date.. 1712
GRANTHAM ALMSHOUSE CHARITY NOTES TO THE FINAf4CIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 I. ACCOUNTING POLICIES The principal accounting poli¢ies adopted, Judgeme1 and key sources of esiinuiion uncertainty in the piepardtion of ihe financial sia*Mellts are as follows.. la) BlS of preparaiion The financial statenients have been prepared in accordanc¢ with the Charities SORP {FRS 102) - Accounring and Reportin¥ by Charities.. Statement of Re¢omm¢nded Practice applicable to charities pr¢par¥ng their accounts in accordance with the Financial Reporting Stsndard applicable in (he UK and Republi¢ of Ireland IFRS 102) (effective l January 20151, the Fii)ancial Reportiiig Standard applicable in ihe UK and Republic of Ireland {FRS 102) and the Charities Act 2011. Granthani Almshouse Charity meets the definition of a public benefit entity under FRS102. A5seis and liabilities are initially Tecognised at historical cost or tyansaaion value unless oth¢rwi%e Stad. {b) Income Income is recognised when the ¢hority has entitlement to the fund5 and represents maintenance contribuiions receivable, interest from investment income and Tents received from investment properties. Ic) Expenditure recognition Liabiliti¢s are recognised as expenditure as soon there is a legal or construe(ive obligation committii)g the chariry to that expenditure. it is probable ihat settlem¢nt will be required and the amount of the obligaiion Can be measured r¢li#bly. All expenditure is accounted for on an accruals basis. All expense5, including support costs and governance cosis, are allocated or apportioned to the applicable exp¢nditure heading5 in the 5tatemelli of financial activities. (d) Charitable propertie5 The charitable properties comprised in the Grantham Almshouse ChaTity now provide 39 units establislied originally by six charitable trusts dating from the seventeenih century,, roged)er with eight fvrther properties. These properties are revalued periodically ar open market value. All surpluses or defjcits are taken directlyto reserves ¢x¢ept that any pemianent diminiition in value of the investment property is taken io the Staiement of Financial Activici¢s for the year. No d¢preciation is ¢har8ed.
GRANTHAM ALMSHOUSE CHARITY NOTES TO THE FINANCIAL STATEMETrrrs FOR THE YEAR EP4DED 31 MARCH 2025 (el Invesnn¢nt Properties Investment properties are revalued periodically at open markd value. All su¥pluses or deficits are iakeji directly to r¢serves ex¢epi thai any pern)an¢ni diminuiion in value of the investment property is taken to ihe Stai¢ment of Financial Activities for the year. No depre¢iaiion is charged. {fj Other fixed assets Individual fixed assets other than charitable and invesiinent propertie5 are ¢apitalised at cost and depreCIad over their useful economic lives on a strai8hi line basi5. (gl Other investments Inves(men¢s we revalued at Tnarket 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 programme of cyclical repairs and maintenanc¢. Cosis are Cliarged to the revenue accoiiiit in tli¢ year in M'hich they are incurred. li) Financial iiistTument5 Basic financial instrnm¢nts ar¢ ¢ISIficd and accounted for, according io (he substance of the contTa¢wal arrongemenL as either financial assets, finan¢ial liabilities or equity instruments. li) Extraordinary repairs Costs of extraordiiiary repwrs, unl¢ss representing improvwnents to the propenies, are Charged the revei)ue account in the year in which they are incued. (k) Cyclical Repairs and Maintenance and Extraordinary Repairs Reserves These reserves represent amounts set aside for c}'clical mainienance to meei ¢osts in excess of budgeted expenditure and amounts sei aside w carry. out major repairs on housÉng properties. 10
GRANfHAM ALMSHOUSE CHAIUTY NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 11} Value Added Tax The Charity is not r¢gistered for value added tax. In these financial s¢atements, where applicable, expendttUTe is shown inclusive of Value Added T. Im) Taxation All income and gains have been, or will be, applied for chari(able purposes. As coiisequenc¢, the charity's income is not subject io t&xation. TRUSTEES AND EMPLOYEES 2025 2024 The avera8e we¢kly number of per50r]s (including the Clerk to the Trustees) employed during the year was.. Staff costs (for the above per50nsl Wages and salarie5 The trustees have not r¢eeived or obtained any retnuneration or ¢Aher financial b¢nefits for the year directly or indirecdy from ihe charity's funds. INVESTMENT INCOME 2025 2024 Charities Official Inves¢m¢nt Fund Inieresi 1,676 4,831 Investment Dividends and Intere51 10.793 TAXATION GTantham Alrnshouse Chariry is meet the definition of a charity for UK corporation tax Purposes. Accordingly. th¢ chwity j5 Potentially exempt from t&xation in respeci of income or capital gains received to the extent that such income or gains are applied exclusively to charitable purposes.
GRAiwfHAM ALMSHOUSE CHARITY NOTES TO THE FINANCIAL ST ATEMENTS FOR THE YEAR ENDED 31 MARCH 202S ALMSHOUSE RESIDENTIAL PROPERTY Fre¢hold Land & Bulldings Totsl Valuation Revaluations Cos( or Revalued amount 1,810,000 1.810.000 1.810000 1810 000 The Almsl)ouses were valued for the purpose5 of the accoullts for the J'ear ended 31 March 2022 by Pigoit & Hall. Estate Ageiits at Market value. The Trusiees consider this to be a fair reflection of (he ¢urreni valu¢ IP4VESTMENT PROPERTY Investment Property Total Cost or Revalued amouni Revaluation5 Cost or Revalued amount 2,240,000 2.240,000 2 240 000 The investmeiit pi'opety was revalued for the purposes of the accoujiis for ihe year ¢nded 31 March 2022 b>" Pigott & Hall, Estate Agents ai market value. The Trustees consider this io be a fair reflection of the current value. 12
GRAPnHAM ALMSHOUSE CHARITY NOTES TO THE FINANCTAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 202S 7. OTHER INVESTMENTS 2025 2024 Quilter Inv¢stm¢nt Fund Naiional Association of Almshouses Common Investsnent Fund Aegon Urtit Trusrs 135.854 7,346 137,232 7,175 415.062 403,270 558 262 547 677 DEBTORS 2025 2024 Prepayments CURRENT A&SETS INVESTMENTS 2025 2024 Deposlt Account.. Charities Offi¢ial Invesiment Fund 30J08 io. CASH AT BANK Af4D IN HAND 1025 2024 Current account Petty Cash 5,038 44 10,816 292 CREDITORS: Arnounts falling due Within one year 2025 2024 Accrued expenses 1,958 2,160 13
GRANTHAM ALMSHOUSE CHARRTY NiyfES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 13. MOVEMENT IN FUNDS CYCLICAL REPAIRS AND MAINTENANCE AND EXTRAORDINARY REPAIR RESERVE Cyclical E¥trAordinary Repair5 and R¢pair Reserve MAintenAnee Rt5trve Total Balance at l April 2024 Transf¢r.' Income and expenditure a¢¢ount 111,437 44,362 155.799 Balance at 31 March 2025 44 62 155799 14. MOVEMENT IN FUNDS EfiDOWMENT FUND Endowm¢nt Fund Total Balance at l April 2024 Revaluation of property 4.050.000 4,050,000 Balanee at 31 MHrch 2025 4 050 000 4 050 000 14
GHANTHAM ALMSHOUSE CHARITY NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 15. RELATED PARTIES No transactions with related parties were undertaken 5u¢h as are required to be disc105¢d. CHARrrABLE EXPENDITURE ChArlt#bie Aeti&ities 2025 Support Costs 2025 Charitable Activities 2024 Support Cosis 2024 Day to day maintenance Extraordin8rylcyclieal maintenance Clerk's Honorariu Assistani to the Cl¢rf('s Honorarium Wages Rent and rates Insurance Light and lieai Garden maintenance Post, telephone and stationery Legal and professional fees Accountancy fees Esiare agents fees Sundry expenses Intercom moniioringllifeline Residents voucherslparty D¢preciation 43,829 31,915 8.914 31,999 19.184 21,334 12,510 864 712 4,873 2i.270 10.122 906 3,370 4,506 22.680 7,723 1,749 3,382 2.040 7,903 2.086 1,021 2,145 7.533 2,638 4,787 1,491 3,700 127.627 17,160 131,062 24,533 15
GRANTHAM ALMSHOUSE CHARtTY SIMPLIFIED JTrICOME AND EXPENDtTURE ACCOUNT FOR THE YEAR ENDED 31 MARCH 2025 2025 2025 2024 2024 INCOME Almshouse mainienance ontribuiions Interest Misc income Investment income Inv¢sthieni properties 54,643 48,673 6.305 23 7,312 91.360 9,571 6.053 89.085 159,643 153,382 LESS EXPENSES Clerk-s HonoTariutn A5SlStant to ihe Clerk's Honorarium Wages Rent and rate5 Light and heat Insurance Postage: telephone and ststioiiery Day to day maintenan¢e Lifeline fees Extraordinary maintenance Investment property maintenance artd in5uran¢e Garden maintenance Legal and professional fees Accountsn¢y fees Esiate agents fees Sundries Depreciation 31.999 21.334 12,510 864 712 23,270 4,873 906 3.370 22,680 4.506 1,749 43,829 1,021 31,915 4,787 19,184 8,914 28,444 7,723 3,382 2.040 7,903 5,786 41,942 10,122 11.196 2.145 7,53J 4.129 173,231 197,537 Surplus or Id¢fi¢it} for the year 13.588 44.155 Thi5 page does not forni part of the Statutory. A¢eount& Th¢s¢ simplSfied aceounis mav not eontaln $uffi¢ltNi Information to allow for g full under5txNding of the financi21 affair5 of the Charity. For further understandlng the full annual account& the Independent Ex%min¢rs Report and the Tryste¢s Annu41 R¢port $hould be consulted. 16