James Ainsworth Almshouses Charity
T￿5188,￿ Annual R8POrt and Al%￿ntS
Year Ended
31 March 2024
Charity Number 224838

James Ainsworth Almshouses Charlty
Trustso's rnport and flnancial statomènts
for the year end8d 31 March 2024
Contents
Pago:
Report of the Truste8
Tru8tee'g resFonstbllllles Statement
Independ￿1 auditors rewt
statement of Inanclal actlvltle8
stateThnt of ffinanGkg1 posluon
io
Notes fomilng part of the financial 8t8tements
Trust00
Bolton At Home Ltd
Al￿￿￿u88S Manager Bolton At Home Ltd
Company Becretary and ro91stsred offlvo
Katrlna Cunliffe, Valw House, 98 Waters M8eting Road, Bolton, BL18SW
Charlty number
224838
Solkltors
Anthony Collins Solicilors LLP, 134 Edmund Street, Bimiingham, B3 2ES
Auditor
A2ets Audit Services, Fleet House, New Road, Lan¢a8ler, LA11EZ
Bankers
CAF Bank, 25 Kings Hill Avenue, King5 Hill, West Maling. Kènt, ME19 4JQ

James Ainsworth Almshouses Charlty
Rfjport of the TYuste8
for tho y￿r onded 31 Iqar¢h 2024
The Trustee presents the annual r8POrt arbd Ihg audited financial statemènts for the year ended 31 March 2024.
The Trustge has &Jopted the provisions of the Charities SORP 2r* Edllltsn (FRS 1￿2) In preparkng the annual
port and financlal statements of the charity.
Slructure, Govomanco and Managomgnt
Bolton At Home were appolnted as Trustee on 31 March 2024. Tho Trustee was provttiusty Arcon Housibvj
A$60ciation.
Slru¢tur¢ and actlvltle8
The Charlty, which Is registsred with Th8 Charlty CommI8slc￿. Is unlncorForated and has as Sis Gonstitulk)n
deGlaration of tru8t dated 2 March 1968 (as amendedl.
In addition, the Charfty holds lund8 and Inve8tmeni8 with a vmv to the further devek4)ment of It3 chadtabfe aims.
OryanlBatlon
The Board of Bolton At Home rneets 8Lx ￿Me6 a year and cathes out an Annual Revw.
As Corpordte Trustee. Ih8trustee meets at kast ￿l¢e 8 Y￿t0 dlscuss FWtonnance, budgets and buslness plans
and approve the financial statements.
ObJ•ctlvo8 and AcUvltlo8
Thg Charftsble obkcts of the Charty are..
to provide housing ￿0mModatknn and as51stance to help house p8ople WPKJ are elderfy or dlBabled and
assocpted facjlllles and amen[￿eS for such people or the rel￿f of the aged, di5abl8d'. and
to further Buch general charitable obAeGts ag the Trustee may determine.
Fknanolal r•vlèw
The total incomlng resourtsg wor8 £49.2C6 th8 year to 31¢1 March 2024 12023.. £44,347), produclng an
opetatlng surplus of £16,557 (2023.. £15,619). Gains on Itwestments resultsd in a surplus of £18.955 for the 12-
month period to 31￿ Marth 2024 (2023,. surplus of £13.2611. Acujmulaled surpluses held in general fvnds were
£547,136 (2023.. £528.181).
Golng Concern
Thg business plan fwasts showthal the charity has sufficient Ilquid funds and debt facillues in plaee that pro)*lde
adequate r8source5 to fund all committed capltsl expendllure and Inve8tmenl wogrammes lo￿ther with day-to-
day aclmlies.
The chaTity'8 activi1185 ara expected to contlnue unchar#J8d for Ihe fC￿ese8abI8 future and the uncertainl
considerod, including IhB pandemtc. are not expected lo have a material long term impact on the a8soclalion'
finarKial viatm'lity. On this basis, the Trustee Is sallsfied through conskleralion of fvlure years, forecasts that It h88
adequate resources to finance future re-lnvestment in its propert￿8 abng wth daY-t￿daY operdlk)ns for the ￿xI
18 months from the dale of signlng of the accounts IncludlThJ suff￿ent cash to meet interest payments on the
oulstandlng108n. For thls reason, we Gtsnlinue io adopt the golng concern basls the financial statements.

R￿9￿83 pollcy
The Trust8e haB considerad tha ne&Y for an approprLqte thl of reserves n conjun¢*on wrfh the guidance issued
by The Char¢ty CommlsshYK
In determlnlng a reseNe polKy, the Trustee has idenh'fied core obJe¢tlvés to be rMt These ar8 a8 follows..
the establlshment of 8deqLtate free reserves lexcludln9 flxéd assets) to ensure that the Charlty has adequate
Ilqukllly to meet any short-lorm fl￿tuationS in oGGupancy levels or excepllonal costs outsKle the scope ofthe
iwdgol; and
the development of a $lrcffjg balance sheet and p0841Ne cash flow to 8UPPKlrt the fvnding of the Improvement
of the ex18tlng PTopety.
The level of reserve$ requlred Is delemiined uslng comprthensivo budgets and Gash flow forecasts. Regular
updates and monitoring of these do¢uments a￿ carried out to ensure that a surpbjs is achieved, and c88h flow is
adequate for the needs of th8 Charity. Tha benchmark for the free reserves for the Charlty is be￿en £400,000
and £500,000.
At the year end the Chawity has total funds of £S91,192 {2023: £572,237} of wh￿h £590,942 {2023'. £571,987) '
available at the discrelion of lh8 trustse and deemed as f￿e reseNes.
Rlsk managemènt
The Trustee has Identified the risks to whkh the Charlty is exposed and, for exh of these, an assessment ha5
been made as lo their impac( severity, arKI probabilily. Inknal and exlemal controts have been revlewed for
effectfveness In miligaling th8se fi$ks.
SyslenNs have been establishwj to manage the level of rlsk IncludirvJ the following:
The revl8w ￿ major risk relatsd in¢ident$ (and steps taken lo addres$ these) al each meeting of the Board
and the Group Audit and Risk Commitlae of the Trustee.
Tho hternal ¢￿trol 8y8tem 18 monllored and Supp￿ted by 8xt8mal audll that 18 ab￿ to pro￿de an
indepgndent persp￿tiVe on tho management of risk wllhln the Charity.
management and control of risk is an ongoln9 process in the Charity. Responsibillty for ensurlng that there
are appropriate rlsk management and audit structures In place, and for revlewlng those 5truclure5,1¥ delegated
to the Group Audit and Commlll8e of the Trustee, Ythioh is a sha￿d committee w6th the Bolton al Home Group.

James Ainsworth Almshouses Charity
Report of tho Trust90
for th• y•ar endtrd 31 March 2024 (¢ontlnued)
Fundlng Sour¢e and Expgndlturo
The prI￿1par funding sources are ¢harge8 for providing hous1￿ accornrnodabon. Expenditure is all related to
providing thts accommodatlon.
Ftsture developmont8
Astock condrfaon 8uNey has been completsd whlch will infoTh lulure reqLtlrements lor Improvements to prowties
and prcorammes are being prepared accordlngty.
Audltor
Azels Audll ServKes Llmited have audited the current yearg acoounls end have expressed thelr willingne8B to
continue . A resolution for the re-appolnlmenl of Azets Audlt Servlces Lirroled as auditors ofthe A3socratv)n Is to
be pro￿Sed at the Annual General MeE￿ng In Ilne wllh thg to￿5 of the ch￿1185 Act 2011.
on At Homo Ltd
Trustee
Date: 26 Septamber 2024

James Ainsworth Almshouses Charity
Trustg9'N r96pon61bllltlgs sLitemont
for th8 yaar onded 31 March 2024
The Tw$tee Is responsible for weparing tha Annual rep¢¥t and the financlal statsments in accordance wllh
appllcable law and regulatlons.
Charity law requlres.theTru$lee io prepare finand81 statsnwnts for each financial year In ￿)rdanr* wllh Unlted
Kingdom Generally Accept￿ Accounts"ng Practice Iunited Kingdom AccountiThJ Standards and applicabte lawl.
Under Gharfty law the Trustee must not approve the financial slatements unless they are satisfied that they give
a true and fair view of Ihe State of affaks olthe charty aThJ of the In¢omlng res￿rceS and appllcallon of resourees,
including th8.income and 8xpendlturq of the charlty for that period.
In preparfng these financial statem￿ts, th8 Truslee is required io:
select 8ultable awouAtlng polkles and then appty them COr￿lSten￿y.
makejudgerrents and accounllTrJ estlmates that reasonable and ptuden(
slate whether appllcable UK Ac%ounting Standards have been fQlbv￿d, subj￿1 to materkgl deparbJre¥
disclosed 8nd expla'lned In the fknancial 8latements' and
preparo the"fjnandal slatemenls on the gdng concern b8sL8 unless it inappro￿ate to presume that the
charity will CDnlinue In.trA￿1nes$.
The Twsteeis respDnslble for.keepiThJ adequate accwnung ￿￿rdS that ate suflklenl to show and explain the
¢lkrty'stransactions"3nd discbse with reasonabb acGuraGy al any lime Ihe finandal FosIt(on of the charity and
enable them40 ensUTe1hat.t￿fift8nciaI Strdtements compty with the Charilig$ A¢12011. They are also responslble
for safeguarding the assets of the charity and herKe for ta￿ng reasonab￿ steps for the pr8v8ntion and detecllon
of tral￿ and other Irregularltks.

James Ainsworth Almshouses Charity
INDEPENDENT AUDITOR'S REPORT TO THE TRUSTEE OF JAPAES AINSWORTH ALMSHOUSES
CHARrrY
Oplnlon
We have audited the firAnclal staten￿lnts of Jawtss Alnsworth Amshouses Charity {tr*'Cha￿l for the period
ended 31 March 2024 which comprise the statement of financlal aclN'rti88, the Statemenl of fina￿la1 posiiion and
tes lo the financ￿7 slatements: Induding slgnificanl accounting policles. The fina￿la1 reporting framework Ih8t
has been applEd in thelr preparats'on is applicable law and Unite(l Kingdom Accounting Standards, 5ncludlng
Financl81 RetM)rting Slandard 102 The Financlal Reportin9 Standard applicable In the UK and Republ￿ of Ireland
(United Klngjom Generdty Accepted knountlng P￿tice>.
In our opinion the finarKlal statem8nts.'
gfve a true and falr vl8w of the state of the Charltys affalts a5 al 31 March 21y24 and of it8 8urplus ky
the wod then 8rbYed',
h8V8 be￿ property prepared in ac¢ordanc8 with Un￿ed Klngdom Generally Acce&rted AtttyJnllTrJ
Practlc&', aTr
have been prepared In accordan¢9 wlth the requlrements of the Charitle8 Act 2011.
Ba8ls for oplnlon
We conducted our audlt in aG¢ordance wih Intematfjonal Standards on AudltSng IUKI IISAS (UK)) and applicat4e
law. Our responsibillties under those 8tandardB are further descrfbgd In the Auditor's re5ponsiblillas for the a￿lt
ofthè finandal slalemen18 seotion ol our report. We are Independentof the Charity in accordance wlth the ethlcal
requirements that are relevant to our audit of Ihe financial statements In the UK, Includlng the FRC'S Ethi1￿1
Siandard. and we have ￿￿Illed our other ethkal rgsponslbllille8 in accordance with these requlr8ffBnts. We
bellwe that the a￿lt evidence we have oblalned 18 SLrfftclent and approprth lo provid9 a basi5 for our opinion.
co￿[US1on$ relating to golng concem
In audiling the finanaal sialements. we have conGluded Ihal IhB Trustee's use of the gcing cont￿n ba818 of
acujunttng In the preparation of the finarKlal stalempnts is appropriate.
Based on the work we have pgrform8d, we have not id8ntlfled any matedal uncertalndes rel8llng to ev8nls or
¢orKJ6tlons that Indfvldually or collectivety, may casl signlflcanl éoubton the Charlty's ability io ¢onlinue as a goi
corK¢rn for a pervjd of at least tsvelve month$ from when the flnanckl statements are authorfsed for issue.
Our responsibililies and the responslbilili8s ol the Trustee re5peci to going G¢ncem are d85crlbed in the
relevant sections of this report
other infomiallon
The other InfomiatKsn cornprises the informatK)n includod in the annual report other than the financial ststements
an¢J our auditor's report Ih8reon. Th8 TNstee18 respcgnslble for the other informallon contained wllhin the annual
report. Our oplnion on the financlal slatenEnls does not cover the other infomallon and. except to the extent
4Xhgrwi5e explicitty sl3t8d In our report, we do not express any form of assUra￿e conclusion thereon. Our
responsibility is to read the other Informalton and, In dolng so, Gonsiderwhether thg Other 1nfom)at￿)n Is nwterially
inconsistent with the financjal statements, or our knowledge obtainfjd in the coutse of the audit. or otherwi8e
appears to be materialty mlsstated. If we identify Such material Incon8islencies or apparent m8terf8l
mlsstatements, we are requlred to determine whether Ihls gfves rise lo a matsrial misstatement In the finandal
stslements themselves. If, based ￿ the work we have performed, we eondude that Ihere is a m*rial
mk4statem8nt of this 01￿1 infomiaiion. we are requlred lo mporl that fact.
We have nothing to report in Ihls regard.

James Ainsworth Almshouses Charlty
INDEPENDENT AUDITOR'S REPORT TO THE TRUSTEE OF JAMES AINSWORTH ALIfjSHOUSES
CHARITY {continuod}
Matters on whlch wg av• rnqulr•d to report by oXC•Ption
We have nothing to Teport in respect of the followlng matters In relauon to wh￿h the Charibes Act 2011 requlre
us to report to you If, In our oplnlon:
the information gNen in the Trustee's Annual RepNt or the financlal year for whlch the fbnanclal
statements are prepared are nol consistent with the financial stalemenls; or
lequate accounting records have not been kept., or
certain disak)sureB of dlreclor8' Temuneratltsn Speeffi￿ by law aro not made., or
the ffinan￿al state￿￿nts are not In agreement wllh thg acCoUn￿ng records and retums; or
we have not re￿1V￿j all the Infom￿￿1 and explanatlon$ we requlre for our audiL
R•Bponsibiliti8s of Tru$tfjg
As explained more fully in the Trustee's r8spon5iExliti85 Statement sgt out on pag8 4, the Trustee is r8swnsibie
for the preparation of the financlal statements and for bel￿ satisfied that they gNe a true and fair vlew, and for
Such Intsrnal control as the board ffembers detsrmine Is necessary to enable the preparation ol Ilnanci81
stalèm8nts that are fre& from material mlsstatemenl, whether due lo fraud or error. In preparlng the flnanclal
Statements, the Twstee is responsible for assesslng the Charfty'5 ability to continue as a g(Mng Gonoern,
disGkJsing, as applicable, matters related to golng wnceTn and using the going concem basis of accounllng unless
the Trustee either intend to Irquidate the Charty or io cgas8 Opgralions, or have no realistic artemalbve but to do
AudltorfB rnsponslbllluots fiyr the audlt of Ihe flnanclal 8tstements
Our objectives are lo obtain reasonable assurance about whelhar the financlal statements as a whde ale freè
from mal8rial misststemenl, whether due to fraud or error, and to an auditoffs report that includes our
opinion. R885Dnable as8UTance 18 a high level of assurance but is not a guarantee that an audit conducted in
accordance ￿1￿ ISAS {UKI wfll 8bNay5 detect 8 material mlsststement when r( exists. TrAisstatemenls can arise
from fraud or emr and are ConS￿ered malertal 11, Indlvldually or in the aggregate. they ¢ould reasonably be
fjxpeded to influen¢9 the e￿n0m￿ deciS￿)nS of users taken on th& basls of these financlal statements.
A further deSCTipUon of our responsibililies 55 available on the Financial Reporling CounGil'5 website aL-
httpsjhvw.fic.org.uk1audilo￿1e$ponSibil1lies. Thls descripllon foims part of our auditors report.

James Ainsworth Almshouses Charlty
INDEPENDENT AUDrroR'S REPORT TO THE TRUSTEE OF JAMES AINSWORTH ALMSHOUSES
CHARITY Icontlnuod)
Exl•nt to which the audlt was consld8r•d capabli of dotsctlng Irrngularltle8, Includlng fraud
Irregularlli88, Includlng fraud, are Insian¢es of nonumpliance with laws and regulations. We design pr￿eduleS
In Ilnewith our responsibilities, oulllned above and on the Flnanclal Reportlng Councd'5webS￿e, to dotect mterkql
n¥sstalements in respect of Irregularllies. includiryJ frdud.
obtwn and UF*Jate our undw8t8ndlng of the g￿ty. its xtivlU8s, its Control envlrenrnnt, Ilk8￿ fulure
developments, including in rektkn to th& 18gal and regu18tory framework applicable and how the entity is
comptyiro wllh that framework. Based on understanding, we Identlfy and assess the risk5 of material
m188talement of the fina￿781 statements, ￿ther due to Iraud or error, design and perfomi audit procedures
spon8lve lo Ihose risks. and obl&n evKlence that Is suffl¢tenl and appropriats to provide 8 ba81s for our
oplnkn. This indudeg conslderation ol the rt8k of acts by Ihg entity that were contrary to appluble laws and
regulations. Including tra￿￿.
In resp)nse tothe dskof trregularlties and nonwliance with l&vs #nd regulatbns. Includir¥J fraud, wedesign
prrtedures whl¢h InCI￿led..
Enqulry of management aThl those ¢horged with g¢)vern8nce ￿jnd aclual aThJ pol￿￿al liligalon and
clalms as well as &tual, su5pect8d and alleged fr8ud',
Revi8wkng mthutes of meetlngs ofthose charged vAth gOVerrAnr￿.
Asses8lng the extent of complianGe with the laws and regulation8 consld6red to have a dYeGt material
effect on the linanclal statements or the operalions of the Ch¥ty through enquiry and inspectlDn;
Reviewing financ￿ statement dl8cbsures and testlng to supportlng documentalkn to a$8ess
¢ompliance with appll¢abl8 la￿ and regulaUon8',
Performing 8udtt work over the rfsk of management blas and override of controls, including teylng of
journal entries and othgr adjustments for appropriateness, evaluallng the business raliDnale of
slgnfficanl transadon8 oulskle the nomial course of buslness and reviewing accounting estinNgtss
hJlcatoTr of potenllal bias.
BeCa￿e of the Inherent Ilmilath)n8 of an audll. there Is a risk that we not (lete¢t all irregularrttes. includlng
those leading to a malerfal mis$latemenl In the financial $tatemants ¢X non-compllance with regulation. This risk
Increases the nK*re that comF4iance with a law or regulation Is removed from the evenl8 and transactiorts ref￿le￿
in the financial stsleN*nls, as we wll be less likely lo become aware of Instances of norkcompliance. The risk of
notdolecllng a malerlal misslalemnl resultlng from fraud is hlgherthan ts one resulting from aFror, as fraud may
Involv8 coNu8lon, forgery, Intentional omissions, m￿￿presen￿tk)￿S, or th8 override of intemal control.
Usè of our report
Thls rep)rt is rn￿le solely lo tho Ch8rlty's trusteè. as o body, In accordance with the Ch8rille8 Act2011. Our audit
work has b88n undertaken so that we might sl&le to the Charlty's trustgo those matters we are requifed to state
to Ih8m In an auditorf8 report and for no other purpose. To th8 fullesl extent pprmitted by law. we do not aG¢ept
or &sumE responslbility lo anyone other than thg Charity and the Charity's trustee, BS a ￿dy, for our audit worK
for thi5 report. or for the opinlons we have formed.
Ilth ftu&ik 2wcof)
SuBanna Ca880y (S&nlor Stalutory Audltor)
For and on behalf of Az&ts Audlt Servlco5
Chartored Ac¢ountants
27 *tefflXk(29
statutory Audltor
Fleet House
New Roaj
Lancaster
LAI 1WZ

James Ainsworth Almshouses Charity
Statemont ol Ilnanclal actrvbtie•
for the year ended 31 March 2024
Unrestrkted
Total
Total
2024
2024
2023
Note
Incoma from..
Charllable activiti8s
Invesbnents
47,009
2,197
47.009
2,197
43,065
1,282
49.2[
49,208
44,347
Expendlturn on."
Charltablo activities
32,649
32,649
28,391
32,649
32,649
28,391
N•t Income before gains and ￿n8101
16,557
16.557
15,619
Galns l (L088) on Inve8tff*nts
2,398
2,398
12,358}
Npt movem•nts In funds
18.955
18,955
13,261
Reconclltation In fundB
Balance brought foTh¥ard * 1 April 2023
ovemenl In fvnds
672.237
18,955
572,237
18,955
558.839
13,598
Balanco carrfed fo)ward at 31 March 2024
591,192
691,192
572,237
The notes on pages 10 to 18 fomi part of these financial statements.

James Ainsworth Almshouses Charity
ststernont lif tlnanclal poslt
at 31 P4larch 2024
2024
2024
2023
2023
Flx•d a8sets
Tanglble as88ts
Investments
36B,773
63,049
376,301
69,275
431,822
445￿6
Current •ssets
Debtors
Cash 8t bank
10
3,897
162,801
2,168
133,615
186,698
135,783
Cmditorn: amounts falllng duo
within one year
11
17,327
{9,1221
Not current •ssets
159,371
126,861
Net assets
591,193
572.237
Funds
Pemianenl endowed fund
Unrestrict8d
Deslynated reserves
Gengrl funds
250
43,806
647,137
43￿06
628,181
690,943
571,987
Total fvDd8
13
591,193
572,237
e finan¢lal statements were approved ty the Board of Trustee arKI authoTlsed for issug on 26 septe[￿er 2024
Bol
Tru
Chanty numbèr 224838
Al
om¢ Ltd
Thg ncles on pages 10 to 18 forffl part of these financlal statements

James Ainsworth Almshouses Charity
Notes forming part of tho flnanclal 8tatements
for the year ended 31 Plarch 2024
Ac¢ountlng polkha
Basls ofpreparntson ofacc¢)unts
The financJal $talem&nls have been prepsred In accordance wllh the Charilw6 SORP 2nd Edlllon {FRS 1021-
Ac¢ounllng and Reporttn9 by Challti8s'. Statement of Recommended Praetlce appllcab18 to charities woparlNJ
Ihelr ac¢ounts In a￿OrdanCe ￿th the Charities SORP (FRS 10218nd the Ch8rilks A¢1 2011.
All 8mounts 8re presant￿ In pounds sterfing and are rolrnded to the nearest £1.
The Trustee considers that the Charity me8ts the d0flnit￿ ofa Publtc Beneffil Entity under FRS1W2.
The followlng prKKlp81 a￿untIng pollcle8 have be￿ applled..
Income
Incoff* Tepresent5 rental Income receivab￿ olher incorne. IncK)me Is recognised wheie there Is
entlU8rrEnt. certalnty of recelpt and the an￿Unt w be n￿Sured wlth suthient relrability.
R8nial Inojme is recognlsed wlEn th8 woFerty 18 avallabl8 for ￿1, net of VOKfs on a re￿1Vab￿ b8s1s.
Investhtnt income is reC￿gniSed on a recelvable basis. Intergst on funds held on dep)slt Is included when
re¢eivable and the amount can te m8asur8d reliabty by the Charfty,. this 18 normally uwn notificallon of the
interest Pald or payab￿ by th& InS￿tU00n with whom the funds are deposlled.
Expendlturn
EKpendtture on charitable aclNilies refates 10 811 costs of providlng housing accomn70datlon. Expendlture on
charitable actfvities 58 Incurred on dk8ctiy undertaking the aclivitles which further the Charity's obJeclive5, as
well as any a$sc￿lated support costs. Support c¥)sts of the Charlty represent the audlt fees, admlnistralion
(>)5ts and finance costs.
T8nglble fued essots
Tangible fixed assets are depreciated over lh￿r useful INe8 tsklng into account reshlts￿ values, where
approprlale. The actual Ilvès oflhe assets and residual values are assessed annually and may vary depending
on a numt¢r of factors. In reryassessing asset INes, factors such as technobgical innovatlon, prcduot lrfe
cycles and maintenance progiammes tsken into account. Residual value assessrfftnts ¢on$lder ￿UeS
such as fvture market condrtions, the remalning life of the asset and projected disposal values.
10

James Alnsworth Almshouses Charlty
Note8 fomln9 of tho flnanclal state￿ni5
ftjr the year end•d 31 March 2024 (contlnuad)
Accountlng pollcles (m?tinu8d)
Housing Prop8ths and Depreciatlon
Houslng properdes for renl are stated al costloss 4￿mulat*￿ depreciation. Freehold land 16 not depreciaknl.
All p￿1￿8 are reviewgd for impaimEnt annualty.
lthere a housirg property comFxlses two or nN)re ￿lOr ¢omFonents with substantiauy dlfferenl useful
ecor￿Mi¢ INes, e&h component 1$ aC￿Unted for separatsty and depreciated over lis indIv￿jU81 usefvl
economlc life. Expendlture relatlng to the subsequent replacement or ￿neWa1 of comwnents Is capltal8ed
as Inourred.
Component
UEL
New buibl houslng slruGture
Ext8mal twork8
Rrnfs
nd(r￿Doors
Electr￿al
Bathrooms
Boilers
He8ting 8yStem5 laxduding t￿118￿)
KIGh8ns
125 years
40 years
60 years
40 years
30 years
30 years
15 years
30 years
20 years
Impalrment
Revlews for ImpalrmBnl of houslng prcT￿LIeS are ¢•nled out when a trbjer has ocojrred ony Impalrment
loss in a cash generallng unil 15 recognised by a chwge to the Ststemenl of Ccfflprehensive Income.
Impainnenl is rec(•3nis8d wh8re the carrying value of a cash gener￿n9 unlt exceeds the higher of its nel
realisable value or ils value In use. A cash generating unlt 18 nomTrlty a group of properties at scheme level
whose cash In¢ome can be s¢pwatety Njgntmled.
Follthwng a tryger for impalrm8nL th¢ Charity perfoTms impairment tests based on falr value less t￿16 to sell
or a value kn use cakulalp)n. The f3irvalue costs to sell calculatlon18 based on avallable data from sabs
transactions in an ami'5 length transa¢llon on similar cash generallng units Ipropeth51 or obsèrvable market
prfces18ss in¢rementsl costs for disposlng of the PToperdes. The value in use cal¢ulathJn is based on elther
a deprecialei* Teplacemenl cost or a dlscounted cash Ilow model. The depreclated replacement cost Is bas8d
on avallable d8la of th& c08t of oonslructlng or acquirlng rgplxement propertles lo wovide the same level of
seryice potential to the Charfty as the existing property. The cash flows are defved from tho busSness plan
for the next 30 year5 and do not include reslwlurlng aclhfilles that the Chanty is not yel pgrmilted to OT
slgnillcant fuiure investments that wlll enhance the assers performance of the cash generating unlt being
tssted. The recoverable amount18 r￿st Sensltlve to the di5￿Unt rate used for the discounted cash flow rndel
as well as the expected future ca8h IIow8 and the growth Tate used for &xtrapolation purp¢XS.
Investmants
Flxed asset inv8Stm8nts are a fonn of financlal InStrun￿nt and are in1lla1￿ recogni5ed at their tran88Ction o)sl
and subsequenlty measured at fair value at the Balance Sheet dale, unl&ss the value cannot be masured
re￿8bfy in which case tt is measured at cost less impaimenl. Inv8Stment galns and losse5, whether realised
or Lmrealised. are comblned and presented as 'G8insl(Lo3ses) on Investrnents, in Iho Sla18ment of Flnanclal
AclNilie8.
11

James Alnsworth Almshouses Charity
Not•s formlng part ol Ihe flnanclal 8tstemen18
for thè y8ar ond•d 31 Aqarch 2024 (contlnuedj
Accountlng pollcle8 {continu8d)
Fln?nGial Instruments
The Charity only has finanGial assets and financial liabllllk5 of a kind that qualify as basic financial In$truments.
Basic financlal instruments are Inltsally recognlsed * Iransacuon value and subsequently measured al their
selllemenl value wlth the exceplon ol bank loans whrch are subsequenuy measured al amrtlsed cost using
the offeclive interest meth(Kl.
Fund a¢wnling
Gen8ral fvnds are unrestricted funds wh￿h are available for use at the d18crets￿ of the TTuslee In furtherance
of the general obJeclN88 of the Charity and which have not been desKJnatsd ts other purpDseB.
The Charity designates funds In ￿lation to anllcipated major and oyclical repair5. Transfers lo Deslgnatgj
Funds aTe based on Management esllmates of future costs. Actual expenditure is expensed to the Income
and Exp8ndllure Acwunt a8 Incurrgd and a correspondlng release of funds then made from the Designated
Funds. The balanc8 18 revlewgj periodlcalty to ensure lis adw4U8Cy.
Judgements and koy source8 of eBtlmatk)n and uncertalnty
The preparallon of the flnancial statenEnts rgqulre8 ￿￿nag9Thnt lo make judgements, estimate8 and
8ssumpUons that affect the amounts report8d foras$ets and Ilabllllle8 as al th8 Slatefftnl of Fin8ncial Poslllon
d8te and the anv)unts reported for Income and exp8ns8s during thg year. However, th8 nature of estlmatlon
means that actual outGome8 could dlffer frt)m those ests'male8.
Th& followlng judggments (apart from thos? involvlng e8Im8188) have had the most signfftant eff¢cl on
amounts reccgnlsed in the financial statements:
Going concem a8S0S5ment
The business plan foTecasls show ihat th6 charfty has sufficient Thquld lunds and debt fatilFties in pLqce that
provide 8dequal8 resources lo fund all committed capital expendSbJre and Investment programmes togeth
V•ryth dty-tTrday acllvltle$.
The charily's acltvltles are expected lo continue unchanged for the fore888able luture and the uncertaintle5
con$ldeTed, including the pandemk, are not expected lo have a material knng term Impact on the assoGialion's
financial viabllity. On this ba518. the Tru51ee Is salisfled through Wnsidera￿On of future years, fOr￿aSts that it
has adequate ￿SoUrceS to flnan¢e lulure ￿inveStMent in its propert4e8 along wllh day-tO•day operations for
thg next 18 months from the date ofsigning ofthe accounts including sufficient Gash ID Thet Interest payments
on the outstandlng loan. For th18 reason, we continue to adopt the going concem ba8ls in the financlal
slatemonts.
12

James Ainsworth Almshouses Charity
Not•8 forming part of thg fln•n¢lal statements
for tho y•ar ended 31 March 2024 (contlnuod)
Incom8 from ¢harltable activities
Unrestrlcted Unre6tr1ctod
2024
2023
HtyJslNJ accommoda￿¢￿ and assi51ance
47,009
43￿65
Investm•nt Income
Unrestrictod
2024
Unrn8trlct¢d
2023
Interest and dfvldeThJ5 on investmgnl depostt aGcounts
l197
1.282
13

James Ainsworth Almshouses Charity
Notss formlng port of the ftnancjal statoment6
lor the year onded 31 March 2024 (conrtlnuod)
Expendlture on charltable actrviti88
2024
Dlrnct
2024
Support
2024
Total
Housing accommc4JaUon a￿1 assi51ance
19,936
12,713
32.649
2023
DIM¢t
2023
support
21)23
Total
Housing accOmmcdat￿ and 88slstsnce
17,302
11.089
28.391
All expendttufv on charitable actNItkn was unrestrtcted in the current and fv year.
Dlre¢l w¥ts on charftable acbvilie8'.
2024
2023
Repairs and malnten8nce
Propety costs
Heat and light
Depreclallon
Insurance
Olher direct
5,260
4,220
4,694
1,954
5,422
377
635
2.447
7.528
415
286
49,936
17,302
Total support Costs:
Govemanco CQSt8 Iwhlch repment the 8UPPOrt Gosts
Audlt fees
Admin and financ* c4)sts
Other sUPPOrt
1,867
60
10,786
1,828
73
9,188
12,713
11,089
14

James Alnsworth Almshouses Charity
' NoteB fomilng part of tho tlnanclal Statements
for the year ended 31 March 2024 (contlnued)
Auditorn, remun8rallon
2024
2023
In rel81icm to a￿j11 of ffinancial staten￿ts
Accountancy SerV￿￿S
1,867
1,828
Trustso rgmun•ratlon and expenses
No remunemlon or expenses were paid to the Trustees durfng th• Gurrent OT prior year.
Tanglblo Ilxed assets
Prop•rty
Cost
At 1 April 2023
Addllions
DIspos8L%
5C6.222
Al 31 March 2024
606,222
Dapre¢latton
11 April 2023
Charge for the year
Dlsposa
129,921
7.528
31 March %)24
137A49
Net book valua
At 31 March 2024
36B,773
31 March 2023
376,301
15

James Ainsworth Almshouses Charlty
Notes fomiing part of thg flnanclal statements
for tho year endèd 31 March 2024 (contlnu8dJ
Inv•8tm•nts
2023
Plarkel valu8 bfvld at 1 April
Addltlons
Dlsposals
GainsllLos31 on revaluauon
69275
71,633
I8￿24)
(2,308
Market value al 31 Mar
63,049
69275
Hisloric cost
28N33
28A33
Investments are represent8d by..
Bonds
Equlti88
9.215
80.060
63W9
69,275
10 Debtors
2024
2023
Amounts due from relatsd parti8s
Rent 8￿r8
other debtors
3,298
2,168
3097
2,168
11 Credltors: amounts falling duo wlthln one year
2024
2023
Amounts due to related parties
Trade credltors
Tenants in credit
Accruals
2,351
4,758
2,097
2,879
2,236
2,128
7,327
9,122
16

James Ainsworth Almshouses Charlty
Notss fomllng part of the flnanclal statemènts
for thè ywr endod 31 ma￿ h 2024 (¢ontlnued)
12 Analy818 of funds
At
1 Aprll
2023
Galns
and
tran8for8
Al
31 March
2024
Income Expèndftuye
Unrestfictsd funds
General
Designated
528,181
43,806
49,2C
(32.649)
2,398
547,136
43,806
671,987
49,206
(320491
2A98
590,942
Endow0d funds
Permanent endowed funds
250
250
Total funds
572,237
49306
(32.6491
2,398
591,192
At
l Aprll
2022
Galns
anfl
trnnsfers
At
31 March
2023
Income Expènditure
Unrfjstrlcted fund8
General
3nated
514.583
43,806
44,347
128,391)
(2,358)
528,181
43.BC6
44,347
1288911
{2,358)
571,987
Endowed fvnd$
Pem*nent enduwed funds
250
250
Total fund8
558,639
44347
{28,391
12,36B)
572,237
General fvnds are unre51dcted funds wh￿h are avallable for use at tho diScre￿On of Ihg Trustee in fvrther
of the general obleclfves of the Charity and which have not been de8i9nated for olh8r purpo8e8.
The Charity d8signale$ funds in relation to antiGipated malor and cyclcal repairs. Transfers lo Deslgnated
Funds are based on Management estimate5 of future costs. Actual expgndllure Is expensed to the Income
and Eyndllure Account as incurred and a corresponding release of funds is then made from the Des￿nated
Funds. The balance 18 revl6wed perf￿￿allY to ensure its adequacy.
End[y￿ed funds represent the hl$torKal c05t of the amounts held in inve5trn8nlB.
17

James Alnsworth Almshouses Charity
Noteg forming part of the financlal statement8
for the year •ndod 31 Alawch 2024 (eontInu￿)
13 Net omots
2024
GeneMI
Designat•d
Endowed
Total
Tangltle fixed assets
Investments
Debtot5
Cash at bank
Creditors: amounts falling due In one
year
368.773
18,993
3,897
162,801
368,773
83,049
3.897
162.801
43,806
250
(7,327)
17,32n
547,137
43,806
250
591,193
2023
Tangible fixed assets
Inve81m&nls
DebtcKs
Ca8h at bank
CrediloT8.' amounls falllng due in one
ygar
376,301
25,219
2,188
133.615
376,301
69,275
2,168
133,615
43,8L
250
{9,122)
{9,1221
528,181
43.806
572337
14 Financlal imtruments
2024
2023
Financial assets mea8ure(l al fair value through profit and10$6
63,049
69,275
Financial as8ets measured at falr value through proffit and Ioss compr18e ¢Ufrenl 888et bonds and equity
Inve5trnents staled at market valu8.
15 Rolatod p•rty tran6actlons
Amounts due
atstart
ofyear
Amounts duo
at ènd
year
Receipts
Paymonts
Arcon Housing
4,758
17,580
{19.9871
2,361
21Y23
Arcon Housing
5,171
26.593
(27,006)
4,758
18

James Ainsworth Almshouses Charity
T￿5188,￿ Annual R8POrt and Al%￿ntS
Year Ended
31 March 2024
Charity Number 224838

James Ainsworth Almshouses Charlty
Trustso's rnport and flnancial statomènts
for the year end8d 31 March 2024
Contents
Pago:
Report of the Truste8
Tru8tee'g resFonstbllllles Statement
Independ￿1 auditors rewt
statement of Inanclal actlvltle8
stateThnt of ffinanGkg1 posluon
io
Notes fomilng part of the financial 8t8tements
Trust00
Bolton At Home Ltd
Al￿￿￿u88S Manager Bolton At Home Ltd
Company Becretary and ro91stsred offlvo
Katrlna Cunliffe, Valw House, 98 Waters M8eting Road, Bolton, BL18SW
Charlty number
224838
Solkltors
Anthony Collins Solicilors LLP, 134 Edmund Street, Bimiingham, B3 2ES
Auditor
A2ets Audit Services, Fleet House, New Road, Lan¢a8ler, LA11EZ
Bankers
CAF Bank, 25 Kings Hill Avenue, King5 Hill, West Maling. Kènt, ME19 4JQ

James Ainsworth Almshouses Charlty
Rfjport of the TYuste8
for tho y￿r onded 31 Iqar¢h 2024
The Trustee presents the annual r8POrt arbd Ihg audited financial statemènts for the year ended 31 March 2024.
The Trustge has &Jopted the provisions of the Charities SORP 2r* Edllltsn (FRS 1￿2) In preparkng the annual
port and financlal statements of the charity.
Slructure, Govomanco and Managomgnt
Bolton At Home were appolnted as Trustee on 31 March 2024. Tho Trustee was provttiusty Arcon Housibvj
A$60ciation.
Slru¢tur¢ and actlvltle8
The Charlty, which Is registsred with Th8 Charlty CommI8slc￿. Is unlncorForated and has as Sis Gonstitulk)n
deGlaration of tru8t dated 2 March 1968 (as amendedl.
In addition, the Charfty holds lund8 and Inve8tmeni8 with a vmv to the further devek4)ment of It3 chadtabfe aims.
OryanlBatlon
The Board of Bolton At Home rneets 8Lx ￿Me6 a year and cathes out an Annual Revw.
As Corpordte Trustee. Ih8trustee meets at kast ￿l¢e 8 Y￿t0 dlscuss FWtonnance, budgets and buslness plans
and approve the financial statements.
ObJ•ctlvo8 and AcUvltlo8
Thg Charftsble obkcts of the Charty are..
to provide housing ￿0mModatknn and as51stance to help house p8ople WPKJ are elderfy or dlBabled and
assocpted facjlllles and amen[￿eS for such people or the rel￿f of the aged, di5abl8d'. and
to further Buch general charitable obAeGts ag the Trustee may determine.
Fknanolal r•vlèw
The total incomlng resourtsg wor8 £49.2C6 th8 year to 31¢1 March 2024 12023.. £44,347), produclng an
opetatlng surplus of £16,557 (2023.. £15,619). Gains on Itwestments resultsd in a surplus of £18.955 for the 12-
month period to 31￿ Marth 2024 (2023,. surplus of £13.2611. Acujmulaled surpluses held in general fvnds were
£547,136 (2023.. £528.181).
Golng Concern
Thg business plan fwasts showthal the charity has sufficient Ilquid funds and debt facillues in plaee that pro)*lde
adequate r8source5 to fund all committed capltsl expendllure and Inve8tmenl wogrammes lo￿ther with day-to-
day aclmlies.
The chaTity'8 activi1185 ara expected to contlnue unchar#J8d for Ihe fC￿ese8abI8 future and the uncertainl
considerod, including IhB pandemtc. are not expected lo have a material long term impact on the a8soclalion'
finarKial viatm'lity. On this basis, the Trustee Is sallsfied through conskleralion of fvlure years, forecasts that It h88
adequate resources to finance future re-lnvestment in its propert￿8 abng wth daY-t￿daY operdlk)ns for the ￿xI
18 months from the dale of signlng of the accounts IncludlThJ suff￿ent cash to meet interest payments on the
oulstandlng108n. For thls reason, we Gtsnlinue io adopt the golng concern basls the financial statements.

R￿9￿83 pollcy
The Trust8e haB considerad tha ne&Y for an approprLqte thl of reserves n conjun¢*on wrfh the guidance issued
by The Char¢ty CommlsshYK
In determlnlng a reseNe polKy, the Trustee has idenh'fied core obJe¢tlvés to be rMt These ar8 a8 follows..
the establlshment of 8deqLtate free reserves lexcludln9 flxéd assets) to ensure that the Charlty has adequate
Ilqukllly to meet any short-lorm fl￿tuationS in oGGupancy levels or excepllonal costs outsKle the scope ofthe
iwdgol; and
the development of a $lrcffjg balance sheet and p0841Ne cash flow to 8UPPKlrt the fvnding of the Improvement
of the ex18tlng PTopety.
The level of reserve$ requlred Is delemiined uslng comprthensivo budgets and Gash flow forecasts. Regular
updates and monitoring of these do¢uments a￿ carried out to ensure that a surpbjs is achieved, and c88h flow is
adequate for the needs of th8 Charity. Tha benchmark for the free reserves for the Charlty is be￿en £400,000
and £500,000.
At the year end the Chawity has total funds of £S91,192 {2023: £572,237} of wh￿h £590,942 {2023'. £571,987) '
available at the discrelion of lh8 trustse and deemed as f￿e reseNes.
Rlsk managemènt
The Trustee has Identified the risks to whkh the Charlty is exposed and, for exh of these, an assessment ha5
been made as lo their impac( severity, arKI probabilily. Inknal and exlemal controts have been revlewed for
effectfveness In miligaling th8se fi$ks.
SyslenNs have been establishwj to manage the level of rlsk IncludirvJ the following:
The revl8w ￿ major risk relatsd in¢ident$ (and steps taken lo addres$ these) al each meeting of the Board
and the Group Audit and Risk Commitlae of the Trustee.
Tho hternal ¢￿trol 8y8tem 18 monllored and Supp￿ted by 8xt8mal audll that 18 ab￿ to pro￿de an
indepgndent persp￿tiVe on tho management of risk wllhln the Charity.
management and control of risk is an ongoln9 process in the Charity. Responsibillty for ensurlng that there
are appropriate rlsk management and audit structures In place, and for revlewlng those 5truclure5,1¥ delegated
to the Group Audit and Commlll8e of the Trustee, Ythioh is a sha￿d committee w6th the Bolton al Home Group.

James Ainsworth Almshouses Charity
Report of tho Trust90
for th• y•ar endtrd 31 March 2024 (¢ontlnued)
Fundlng Sour¢e and Expgndlturo
The prI￿1par funding sources are ¢harge8 for providing hous1￿ accornrnodabon. Expenditure is all related to
providing thts accommodatlon.
Ftsture developmont8
Astock condrfaon 8uNey has been completsd whlch will infoTh lulure reqLtlrements lor Improvements to prowties
and prcorammes are being prepared accordlngty.
Audltor
Azels Audll ServKes Llmited have audited the current yearg acoounls end have expressed thelr willingne8B to
continue . A resolution for the re-appolnlmenl of Azets Audlt Servlces Lirroled as auditors ofthe A3socratv)n Is to
be pro￿Sed at the Annual General MeE￿ng In Ilne wllh thg to￿5 of the ch￿1185 Act 2011.
on At Homo Ltd
Trustee
Date: 26 Septamber 2024

James Ainsworth Almshouses Charity
Trustg9'N r96pon61bllltlgs sLitemont
for th8 yaar onded 31 March 2024
The Tw$tee Is responsible for weparing tha Annual rep¢¥t and the financlal statsments in accordance wllh
appllcable law and regulatlons.
Charity law requlres.theTru$lee io prepare finand81 statsnwnts for each financial year In ￿)rdanr* wllh Unlted
Kingdom Generally Accept￿ Accounts"ng Practice Iunited Kingdom AccountiThJ Standards and applicabte lawl.
Under Gharfty law the Trustee must not approve the financial slatements unless they are satisfied that they give
a true and fair view of Ihe State of affaks olthe charty aThJ of the In¢omlng res￿rceS and appllcallon of resourees,
including th8.income and 8xpendlturq of the charlty for that period.
In preparfng these financial statem￿ts, th8 Truslee is required io:
select 8ultable awouAtlng polkles and then appty them COr￿lSten￿y.
makejudgerrents and accounllTrJ estlmates that reasonable and ptuden(
slate whether appllcable UK Ac%ounting Standards have been fQlbv￿d, subj￿1 to materkgl deparbJre¥
disclosed 8nd expla'lned In the fknancial 8latements' and
preparo the"fjnandal slatemenls on the gdng concern b8sL8 unless it inappro￿ate to presume that the
charity will CDnlinue In.trA￿1nes$.
The Twsteeis respDnslble for.keepiThJ adequate accwnung ￿￿rdS that ate suflklenl to show and explain the
¢lkrty'stransactions"3nd discbse with reasonabb acGuraGy al any lime Ihe finandal FosIt(on of the charity and
enable them40 ensUTe1hat.t￿fift8nciaI Strdtements compty with the Charilig$ A¢12011. They are also responslble
for safeguarding the assets of the charity and herKe for ta￿ng reasonab￿ steps for the pr8v8ntion and detecllon
of tral￿ and other Irregularltks.

James Ainsworth Almshouses Charity
INDEPENDENT AUDITOR'S REPORT TO THE TRUSTEE OF JAPAES AINSWORTH ALMSHOUSES
CHARrrY
Oplnlon
We have audited the firAnclal staten￿lnts of Jawtss Alnsworth Amshouses Charity {tr*'Cha￿l for the period
ended 31 March 2024 which comprise the statement of financlal aclN'rti88, the Statemenl of fina￿la1 posiiion and
tes lo the financ￿7 slatements: Induding slgnificanl accounting policles. The fina￿la1 reporting framework Ih8t
has been applEd in thelr preparats'on is applicable law and Unite(l Kingdom Accounting Standards, 5ncludlng
Financl81 RetM)rting Slandard 102 The Financlal Reportin9 Standard applicable In the UK and Republ￿ of Ireland
(United Klngjom Generdty Accepted knountlng P￿tice>.
In our opinion the finarKlal statem8nts.'
gfve a true and falr vl8w of the state of the Charltys affalts a5 al 31 March 21y24 and of it8 8urplus ky
the wod then 8rbYed',
h8V8 be￿ property prepared in ac¢ordanc8 with Un￿ed Klngdom Generally Acce&rted AtttyJnllTrJ
Practlc&', aTr
have been prepared In accordan¢9 wlth the requlrements of the Charitle8 Act 2011.
Ba8ls for oplnlon
We conducted our audlt in aG¢ordance wih Intematfjonal Standards on AudltSng IUKI IISAS (UK)) and applicat4e
law. Our responsibillties under those 8tandardB are further descrfbgd In the Auditor's re5ponsiblillas for the a￿lt
ofthè finandal slalemen18 seotion ol our report. We are Independentof the Charity in accordance wlth the ethlcal
requirements that are relevant to our audit of Ihe financial statements In the UK, Includlng the FRC'S Ethi1￿1
Siandard. and we have ￿￿Illed our other ethkal rgsponslbllille8 in accordance with these requlr8ffBnts. We
bellwe that the a￿lt evidence we have oblalned 18 SLrfftclent and approprth lo provid9 a basi5 for our opinion.
co￿[US1on$ relating to golng concem
In audiling the finanaal sialements. we have conGluded Ihal IhB Trustee's use of the gcing cont￿n ba818 of
acujunttng In the preparation of the finarKlal stalempnts is appropriate.
Based on the work we have pgrform8d, we have not id8ntlfled any matedal uncertalndes rel8llng to ev8nls or
¢orKJ6tlons that Indfvldually or collectivety, may casl signlflcanl éoubton the Charlty's ability io ¢onlinue as a goi
corK¢rn for a pervjd of at least tsvelve month$ from when the flnanckl statements are authorfsed for issue.
Our responsibililies and the responslbilili8s ol the Trustee re5peci to going G¢ncem are d85crlbed in the
relevant sections of this report
other infomiallon
The other InfomiatKsn cornprises the informatK)n includod in the annual report other than the financial ststements
an¢J our auditor's report Ih8reon. Th8 TNstee18 respcgnslble for the other informallon contained wllhin the annual
report. Our oplnion on the financlal slatenEnls does not cover the other infomallon and. except to the extent
4Xhgrwi5e explicitty sl3t8d In our report, we do not express any form of assUra￿e conclusion thereon. Our
responsibility is to read the other Informalton and, In dolng so, Gonsiderwhether thg Other 1nfom)at￿)n Is nwterially
inconsistent with the financjal statements, or our knowledge obtainfjd in the coutse of the audit. or otherwi8e
appears to be materialty mlsstated. If we identify Such material Incon8islencies or apparent m8terf8l
mlsstatements, we are requlred to determine whether Ihls gfves rise lo a matsrial misstatement In the finandal
stslements themselves. If, based ￿ the work we have performed, we eondude that Ihere is a m*rial
mk4statem8nt of this 01￿1 infomiaiion. we are requlred lo mporl that fact.
We have nothing to report in Ihls regard.

James Ainsworth Almshouses Charlty
INDEPENDENT AUDITOR'S REPORT TO THE TRUSTEE OF JAMES AINSWORTH ALIfjSHOUSES
CHARITY {continuod}
Matters on whlch wg av• rnqulr•d to report by oXC•Ption
We have nothing to Teport in respect of the followlng matters In relauon to wh￿h the Charibes Act 2011 requlre
us to report to you If, In our oplnlon:
the information gNen in the Trustee's Annual RepNt or the financlal year for whlch the fbnanclal
statements are prepared are nol consistent with the financial stalemenls; or
lequate accounting records have not been kept., or
certain disak)sureB of dlreclor8' Temuneratltsn Speeffi￿ by law aro not made., or
the ffinan￿al state￿￿nts are not In agreement wllh thg acCoUn￿ng records and retums; or
we have not re￿1V￿j all the Infom￿￿1 and explanatlon$ we requlre for our audiL
R•Bponsibiliti8s of Tru$tfjg
As explained more fully in the Trustee's r8spon5iExliti85 Statement sgt out on pag8 4, the Trustee is r8swnsibie
for the preparation of the financlal statements and for bel￿ satisfied that they gNe a true and fair vlew, and for
Such Intsrnal control as the board ffembers detsrmine Is necessary to enable the preparation ol Ilnanci81
stalèm8nts that are fre& from material mlsstatemenl, whether due lo fraud or error. In preparlng the flnanclal
Statements, the Twstee is responsible for assesslng the Charfty'5 ability to continue as a g(Mng Gonoern,
disGkJsing, as applicable, matters related to golng wnceTn and using the going concem basis of accounllng unless
the Trustee either intend to Irquidate the Charty or io cgas8 Opgralions, or have no realistic artemalbve but to do
AudltorfB rnsponslbllluots fiyr the audlt of Ihe flnanclal 8tstements
Our objectives are lo obtain reasonable assurance about whelhar the financlal statements as a whde ale freè
from mal8rial misststemenl, whether due to fraud or error, and to an auditoffs report that includes our
opinion. R885Dnable as8UTance 18 a high level of assurance but is not a guarantee that an audit conducted in
accordance ￿1￿ ISAS {UKI wfll 8bNay5 detect 8 material mlsststement when r( exists. TrAisstatemenls can arise
from fraud or emr and are ConS￿ered malertal 11, Indlvldually or in the aggregate. they ¢ould reasonably be
fjxpeded to influen¢9 the e￿n0m￿ deciS￿)nS of users taken on th& basls of these financlal statements.
A further deSCTipUon of our responsibililies 55 available on the Financial Reporling CounGil'5 website aL-
httpsjhvw.fic.org.uk1audilo￿1e$ponSibil1lies. Thls descripllon foims part of our auditors report.

James Ainsworth Almshouses Charlty
INDEPENDENT AUDrroR'S REPORT TO THE TRUSTEE OF JAMES AINSWORTH ALMSHOUSES
CHARITY Icontlnuod)
Exl•nt to which the audlt was consld8r•d capabli of dotsctlng Irrngularltle8, Includlng fraud
Irregularlli88, Includlng fraud, are Insian¢es of nonumpliance with laws and regulations. We design pr￿eduleS
In Ilnewith our responsibilities, oulllned above and on the Flnanclal Reportlng Councd'5webS￿e, to dotect mterkql
n¥sstalements in respect of Irregularllies. includiryJ frdud.
obtwn and UF*Jate our undw8t8ndlng of the g￿ty. its xtivlU8s, its Control envlrenrnnt, Ilk8￿ fulure
developments, including in rektkn to th& 18gal and regu18tory framework applicable and how the entity is
comptyiro wllh that framework. Based on understanding, we Identlfy and assess the risk5 of material
m188talement of the fina￿781 statements, ￿ther due to Iraud or error, design and perfomi audit procedures
spon8lve lo Ihose risks. and obl&n evKlence that Is suffl¢tenl and appropriats to provide 8 ba81s for our
oplnkn. This indudeg conslderation ol the rt8k of acts by Ihg entity that were contrary to appluble laws and
regulations. Including tra￿￿.
In resp)nse tothe dskof trregularlties and nonwliance with l&vs #nd regulatbns. Includir¥J fraud, wedesign
prrtedures whl¢h InCI￿led..
Enqulry of management aThl those ¢horged with g¢)vern8nce ￿jnd aclual aThJ pol￿￿al liligalon and
clalms as well as &tual, su5pect8d and alleged fr8ud',
Revi8wkng mthutes of meetlngs ofthose charged vAth gOVerrAnr￿.
Asses8lng the extent of complianGe with the laws and regulation8 consld6red to have a dYeGt material
effect on the linanclal statements or the operalions of the Ch¥ty through enquiry and inspectlDn;
Reviewing financ￿ statement dl8cbsures and testlng to supportlng documentalkn to a$8ess
¢ompliance with appll¢abl8 la￿ and regulaUon8',
Performing 8udtt work over the rfsk of management blas and override of controls, including teylng of
journal entries and othgr adjustments for appropriateness, evaluallng the business raliDnale of
slgnfficanl transadon8 oulskle the nomial course of buslness and reviewing accounting estinNgtss
hJlcatoTr of potenllal bias.
BeCa￿e of the Inherent Ilmilath)n8 of an audll. there Is a risk that we not (lete¢t all irregularrttes. includlng
those leading to a malerfal mis$latemenl In the financial $tatemants ¢X non-compllance with regulation. This risk
Increases the nK*re that comF4iance with a law or regulation Is removed from the evenl8 and transactiorts ref￿le￿
in the financial stsleN*nls, as we wll be less likely lo become aware of Instances of norkcompliance. The risk of
notdolecllng a malerlal misslalemnl resultlng from fraud is hlgherthan ts one resulting from aFror, as fraud may
Involv8 coNu8lon, forgery, Intentional omissions, m￿￿presen￿tk)￿S, or th8 override of intemal control.
Usè of our report
Thls rep)rt is rn￿le solely lo tho Ch8rlty's trusteè. as o body, In accordance with the Ch8rille8 Act2011. Our audit
work has b88n undertaken so that we might sl&le to the Charlty's trustgo those matters we are requifed to state
to Ih8m In an auditorf8 report and for no other purpose. To th8 fullesl extent pprmitted by law. we do not aG¢ept
or &sumE responslbility lo anyone other than thg Charity and the Charity's trustee, BS a ￿dy, for our audit worK
for thi5 report. or for the opinlons we have formed.
Ilth ftu&ik 2wcof)
SuBanna Ca880y (S&nlor Stalutory Audltor)
For and on behalf of Az&ts Audlt Servlco5
Chartored Ac¢ountants
27 *tefflXk(29
statutory Audltor
Fleet House
New Roaj
Lancaster
LAI 1WZ

James Ainsworth Almshouses Charity
Statemont ol Ilnanclal actrvbtie•
for the year ended 31 March 2024
Unrestrkted
Total
Total
2024
2024
2023
Note
Incoma from..
Charllable activiti8s
Invesbnents
47,009
2,197
47.009
2,197
43,065
1,282
49.2[
49,208
44,347
Expendlturn on."
Charltablo activities
32,649
32,649
28,391
32,649
32,649
28,391
N•t Income before gains and ￿n8101
16,557
16.557
15,619
Galns l (L088) on Inve8tff*nts
2,398
2,398
12,358}
Npt movem•nts In funds
18.955
18,955
13,261
Reconclltation In fundB
Balance brought foTh¥ard * 1 April 2023
ovemenl In fvnds
672.237
18,955
572,237
18,955
558.839
13,598
Balanco carrfed fo)ward at 31 March 2024
591,192
691,192
572,237
The notes on pages 10 to 18 fomi part of these financial statements.

James Ainsworth Almshouses Charity
ststernont lif tlnanclal poslt
at 31 P4larch 2024
2024
2024
2023
2023
Flx•d a8sets
Tanglble as88ts
Investments
36B,773
63,049
376,301
69,275
431,822
445￿6
Current •ssets
Debtors
Cash 8t bank
10
3,897
162,801
2,168
133,615
186,698
135,783
Cmditorn: amounts falllng duo
within one year
11
17,327
{9,1221
Not current •ssets
159,371
126,861
Net assets
591,193
572.237
Funds
Pemianenl endowed fund
Unrestrict8d
Deslynated reserves
Gengrl funds
250
43,806
647,137
43￿06
628,181
690,943
571,987
Total fvDd8
13
591,193
572,237
e finan¢lal statements were approved ty the Board of Trustee arKI authoTlsed for issug on 26 septe[￿er 2024
Bol
Tru
Chanty numbèr 224838
Al
om¢ Ltd
Thg ncles on pages 10 to 18 forffl part of these financlal statements

James Ainsworth Almshouses Charity
Notes forming part of tho flnanclal 8tatements
for the year ended 31 Plarch 2024
Ac¢ountlng polkha
Basls ofpreparntson ofacc¢)unts
The financJal $talem&nls have been prepsred In accordance wllh the Charilw6 SORP 2nd Edlllon {FRS 1021-
Ac¢ounllng and Reporttn9 by Challti8s'. Statement of Recommended Praetlce appllcab18 to charities woparlNJ
Ihelr ac¢ounts In a￿OrdanCe ￿th the Charities SORP (FRS 10218nd the Ch8rilks A¢1 2011.
All 8mounts 8re presant￿ In pounds sterfing and are rolrnded to the nearest £1.
The Trustee considers that the Charity me8ts the d0flnit￿ ofa Publtc Beneffil Entity under FRS1W2.
The followlng prKKlp81 a￿untIng pollcle8 have be￿ applled..
Income
Incoff* Tepresent5 rental Income receivab￿ olher incorne. IncK)me Is recognised wheie there Is
entlU8rrEnt. certalnty of recelpt and the an￿Unt w be n￿Sured wlth suthient relrability.
R8nial Inojme is recognlsed wlEn th8 woFerty 18 avallabl8 for ￿1, net of VOKfs on a re￿1Vab￿ b8s1s.
Investhtnt income is reC￿gniSed on a recelvable basis. Intergst on funds held on dep)slt Is included when
re¢eivable and the amount can te m8asur8d reliabty by the Charfty,. this 18 normally uwn notificallon of the
interest Pald or payab￿ by th& InS￿tU00n with whom the funds are deposlled.
Expendlturn
EKpendtture on charitable aclNilies refates 10 811 costs of providlng housing accomn70datlon. Expendlture on
charitable actfvities 58 Incurred on dk8ctiy undertaking the aclivitles which further the Charity's obJeclive5, as
well as any a$sc￿lated support costs. Support c¥)sts of the Charlty represent the audlt fees, admlnistralion
(>)5ts and finance costs.
T8nglble fued essots
Tangible fixed assets are depreciated over lh￿r useful INe8 tsklng into account reshlts￿ values, where
approprlale. The actual Ilvès oflhe assets and residual values are assessed annually and may vary depending
on a numt¢r of factors. In reryassessing asset INes, factors such as technobgical innovatlon, prcduot lrfe
cycles and maintenance progiammes tsken into account. Residual value assessrfftnts ¢on$lder ￿UeS
such as fvture market condrtions, the remalning life of the asset and projected disposal values.
10

James Alnsworth Almshouses Charlty
Note8 fomln9 of tho flnanclal state￿ni5
ftjr the year end•d 31 March 2024 (contlnuad)
Accountlng pollcles (m?tinu8d)
Housing Prop8ths and Depreciatlon
Houslng properdes for renl are stated al costloss 4￿mulat*￿ depreciation. Freehold land 16 not depreciaknl.
All p￿1￿8 are reviewgd for impaimEnt annualty.
lthere a housirg property comFxlses two or nN)re ￿lOr ¢omFonents with substantiauy dlfferenl useful
ecor￿Mi¢ INes, e&h component 1$ aC￿Unted for separatsty and depreciated over lis indIv￿jU81 usefvl
economlc life. Expendlture relatlng to the subsequent replacement or ￿neWa1 of comwnents Is capltal8ed
as Inourred.
Component
UEL
New buibl houslng slruGture
Ext8mal twork8
Rrnfs
nd(r￿Doors
Electr￿al
Bathrooms
Boilers
He8ting 8yStem5 laxduding t￿118￿)
KIGh8ns
125 years
40 years
60 years
40 years
30 years
30 years
15 years
30 years
20 years
Impalrment
Revlews for ImpalrmBnl of houslng prcT￿LIeS are ¢•nled out when a trbjer has ocojrred ony Impalrment
loss in a cash generallng unil 15 recognised by a chwge to the Ststemenl of Ccfflprehensive Income.
Impainnenl is rec(•3nis8d wh8re the carrying value of a cash gener￿n9 unlt exceeds the higher of its nel
realisable value or ils value In use. A cash generating unlt 18 nomTrlty a group of properties at scheme level
whose cash In¢ome can be s¢pwatety Njgntmled.
Follthwng a tryger for impalrm8nL th¢ Charity perfoTms impairment tests based on falr value less t￿16 to sell
or a value kn use cakulalp)n. The f3irvalue costs to sell calculatlon18 based on avallable data from sabs
transactions in an ami'5 length transa¢llon on similar cash generallng units Ipropeth51 or obsèrvable market
prfces18ss in¢rementsl costs for disposlng of the PToperdes. The value in use cal¢ulathJn is based on elther
a deprecialei* Teplacemenl cost or a dlscounted cash Ilow model. The depreclated replacement cost Is bas8d
on avallable d8la of th& c08t of oonslructlng or acquirlng rgplxement propertles lo wovide the same level of
seryice potential to the Charfty as the existing property. The cash flows are defved from tho busSness plan
for the next 30 year5 and do not include reslwlurlng aclhfilles that the Chanty is not yel pgrmilted to OT
slgnillcant fuiure investments that wlll enhance the assers performance of the cash generating unlt being
tssted. The recoverable amount18 r￿st Sensltlve to the di5￿Unt rate used for the discounted cash flow rndel
as well as the expected future ca8h IIow8 and the growth Tate used for &xtrapolation purp¢XS.
Investmants
Flxed asset inv8Stm8nts are a fonn of financlal InStrun￿nt and are in1lla1￿ recogni5ed at their tran88Ction o)sl
and subsequenlty measured at fair value at the Balance Sheet dale, unl&ss the value cannot be masured
re￿8bfy in which case tt is measured at cost less impaimenl. Inv8Stment galns and losse5, whether realised
or Lmrealised. are comblned and presented as 'G8insl(Lo3ses) on Investrnents, in Iho Sla18ment of Flnanclal
AclNilie8.
11

James Alnsworth Almshouses Charity
Not•s formlng part ol Ihe flnanclal 8tstemen18
for thè y8ar ond•d 31 Aqarch 2024 (contlnuedj
Accountlng pollcle8 {continu8d)
Fln?nGial Instruments
The Charity only has finanGial assets and financial liabllllk5 of a kind that qualify as basic financial In$truments.
Basic financlal instruments are Inltsally recognlsed * Iransacuon value and subsequently measured al their
selllemenl value wlth the exceplon ol bank loans whrch are subsequenuy measured al amrtlsed cost using
the offeclive interest meth(Kl.
Fund a¢wnling
Gen8ral fvnds are unrestricted funds wh￿h are available for use at the d18crets￿ of the TTuslee In furtherance
of the general obJeclN88 of the Charity and which have not been desKJnatsd ts other purpDseB.
The Charity designates funds In ￿lation to anllcipated major and oyclical repair5. Transfers lo Deslgnatgj
Funds aTe based on Management esllmates of future costs. Actual expenditure is expensed to the Income
and Exp8ndllure Acwunt a8 Incurrgd and a correspondlng release of funds then made from the Designated
Funds. The balanc8 18 revlewgj periodlcalty to ensure lis adw4U8Cy.
Judgements and koy source8 of eBtlmatk)n and uncertalnty
The preparallon of the flnancial statenEnts rgqulre8 ￿￿nag9Thnt lo make judgements, estimate8 and
8ssumpUons that affect the amounts report8d foras$ets and Ilabllllle8 as al th8 Slatefftnl of Fin8ncial Poslllon
d8te and the anv)unts reported for Income and exp8ns8s during thg year. However, th8 nature of estlmatlon
means that actual outGome8 could dlffer frt)m those ests'male8.
Th& followlng judggments (apart from thos? involvlng e8Im8188) have had the most signfftant eff¢cl on
amounts reccgnlsed in the financial statements:
Going concem a8S0S5ment
The business plan foTecasls show ihat th6 charfty has sufficient Thquld lunds and debt fatilFties in pLqce that
provide 8dequal8 resources lo fund all committed capital expendSbJre and Investment programmes togeth
V•ryth dty-tTrday acllvltle$.
The charily's acltvltles are expected lo continue unchanged for the fore888able luture and the uncertaintle5
con$ldeTed, including the pandemk, are not expected lo have a material knng term Impact on the assoGialion's
financial viabllity. On this ba518. the Tru51ee Is salisfled through Wnsidera￿On of future years, fOr￿aSts that it
has adequate ￿SoUrceS to flnan¢e lulure ￿inveStMent in its propert4e8 along wllh day-tO•day operations for
thg next 18 months from the date ofsigning ofthe accounts including sufficient Gash ID Thet Interest payments
on the outstandlng loan. For th18 reason, we continue to adopt the going concem ba8ls in the financlal
slatemonts.
12

James Ainsworth Almshouses Charity
Not•8 forming part of thg fln•n¢lal statements
for tho y•ar ended 31 March 2024 (contlnuod)
Incom8 from ¢harltable activities
Unrestrlcted Unre6tr1ctod
2024
2023
HtyJslNJ accommoda￿¢￿ and assi51ance
47,009
43￿65
Investm•nt Income
Unrestrictod
2024
Unrn8trlct¢d
2023
Interest and dfvldeThJ5 on investmgnl depostt aGcounts
l197
1.282
13

James Ainsworth Almshouses Charity
Notss formlng port of the ftnancjal statoment6
lor the year onded 31 March 2024 (conrtlnuod)
Expendlture on charltable actrviti88
2024
Dlrnct
2024
Support
2024
Total
Housing accommc4JaUon a￿1 assi51ance
19,936
12,713
32.649
2023
DIM¢t
2023
support
21)23
Total
Housing accOmmcdat￿ and 88slstsnce
17,302
11.089
28.391
All expendttufv on charitable actNItkn was unrestrtcted in the current and fv year.
Dlre¢l w¥ts on charftable acbvilie8'.
2024
2023
Repairs and malnten8nce
Propety costs
Heat and light
Depreclallon
Insurance
Olher direct
5,260
4,220
4,694
1,954
5,422
377
635
2.447
7.528
415
286
49,936
17,302
Total support Costs:
Govemanco CQSt8 Iwhlch repment the 8UPPOrt Gosts
Audlt fees
Admin and financ* c4)sts
Other sUPPOrt
1,867
60
10,786
1,828
73
9,188
12,713
11,089
14

James Alnsworth Almshouses Charity
' NoteB fomilng part of tho tlnanclal Statements
for the year ended 31 March 2024 (contlnued)
Auditorn, remun8rallon
2024
2023
In rel81icm to a￿j11 of ffinancial staten￿ts
Accountancy SerV￿￿S
1,867
1,828
Trustso rgmun•ratlon and expenses
No remunemlon or expenses were paid to the Trustees durfng th• Gurrent OT prior year.
Tanglblo Ilxed assets
Prop•rty
Cost
At 1 April 2023
Addllions
DIspos8L%
5C6.222
Al 31 March 2024
606,222
Dapre¢latton
11 April 2023
Charge for the year
Dlsposa
129,921
7.528
31 March %)24
137A49
Net book valua
At 31 March 2024
36B,773
31 March 2023
376,301
15

James Ainsworth Almshouses Charlty
Notes fomiing part of thg flnanclal statements
for tho year endèd 31 March 2024 (contlnu8dJ
Inv•8tm•nts
2023
Plarkel valu8 bfvld at 1 April
Addltlons
Dlsposals
GainsllLos31 on revaluauon
69275
71,633
I8￿24)
(2,308
Market value al 31 Mar
63,049
69275
Hisloric cost
28N33
28A33
Investments are represent8d by..
Bonds
Equlti88
9.215
80.060
63W9
69,275
10 Debtors
2024
2023
Amounts due from relatsd parti8s
Rent 8￿r8
other debtors
3,298
2,168
3097
2,168
11 Credltors: amounts falling duo wlthln one year
2024
2023
Amounts due to related parties
Trade credltors
Tenants in credit
Accruals
2,351
4,758
2,097
2,879
2,236
2,128
7,327
9,122
16

James Ainsworth Almshouses Charlty
Notss fomllng part of the flnanclal statemènts
for thè ywr endod 31 ma￿ h 2024 (¢ontlnued)
12 Analy818 of funds
At
1 Aprll
2023
Galns
and
tran8for8
Al
31 March
2024
Income Expèndftuye
Unrestfictsd funds
General
Designated
528,181
43,806
49,2C
(32.649)
2,398
547,136
43,806
671,987
49,206
(320491
2A98
590,942
Endow0d funds
Permanent endowed funds
250
250
Total funds
572,237
49306
(32.6491
2,398
591,192
At
l Aprll
2022
Galns
anfl
trnnsfers
At
31 March
2023
Income Expènditure
Unrfjstrlcted fund8
General
3nated
514.583
43,806
44,347
128,391)
(2,358)
528,181
43.BC6
44,347
1288911
{2,358)
571,987
Endowed fvnd$
Pem*nent enduwed funds
250
250
Total fund8
558,639
44347
{28,391
12,36B)
572,237
General fvnds are unre51dcted funds wh￿h are avallable for use at tho diScre￿On of Ihg Trustee in fvrther
of the general obleclfves of the Charity and which have not been de8i9nated for olh8r purpo8e8.
The Charity d8signale$ funds in relation to antiGipated malor and cyclcal repairs. Transfers lo Deslgnated
Funds are based on Management estimate5 of future costs. Actual expgndllure Is expensed to the Income
and Eyndllure Account as incurred and a corresponding release of funds is then made from the Des￿nated
Funds. The balance 18 revl6wed perf￿￿allY to ensure its adequacy.
End[y￿ed funds represent the hl$torKal c05t of the amounts held in inve5trn8nlB.
17

James Alnsworth Almshouses Charity
Noteg forming part of the financlal statement8
for the year •ndod 31 Alawch 2024 (eontInu￿)
13 Net omots
2024
GeneMI
Designat•d
Endowed
Total
Tangltle fixed assets
Investments
Debtot5
Cash at bank
Creditors: amounts falling due In one
year
368.773
18,993
3,897
162,801
368,773
83,049
3.897
162.801
43,806
250
(7,327)
17,32n
547,137
43,806
250
591,193
2023
Tangible fixed assets
Inve81m&nls
DebtcKs
Ca8h at bank
CrediloT8.' amounls falllng due in one
ygar
376,301
25,219
2,188
133.615
376,301
69,275
2,168
133,615
43,8L
250
{9,122)
{9,1221
528,181
43.806
572337
14 Financlal imtruments
2024
2023
Financial assets mea8ure(l al fair value through profit and10$6
63,049
69,275
Financial as8ets measured at falr value through proffit and Ioss compr18e ¢Ufrenl 888et bonds and equity
Inve5trnents staled at market valu8.
15 Rolatod p•rty tran6actlons
Amounts due
atstart
ofyear
Amounts duo
at ènd
year
Receipts
Paymonts
Arcon Housing
4,758
17,580
{19.9871
2,361
21Y23
Arcon Housing
5,171
26.593
(27,006)
4,758
18

Fleet House New Road Lancaster LA1 1EZ 


T:   +44 (0) 1524 541 200 F:   +44 (0) 1524 541 201 azets.co.uk 

## **Private & Confidential** 


Our ref: SC/AHM/C-10011797 

The Board Members Bolton At Home Limited 98 Waters Meeting Road Bolton BL1 8SW 

5 September 2024 

Dear Sirs 

This Audit Findings Letter highlights the significant findings arising from the audit, for the benefit of those charged with governance. We appreciate that you may be aware of some of the matters contained in this report, however as required by International Standard on Auditing (UK) 260 we are required to communicate such matters to you formally. 

As auditors we are responsible for performing the audit, in accordance with International Standards on Auditing (UK) (ISAs (UK)), which is directed towards forming and expressing an opinion on the financial statements that have been prepared on behalf of management with the oversight of those charged with governance. The audit of the financial statements does not relieve management or those charged with governance of their responsibilities for the preparation of the financial statements. 

This letter has been provided on the basis that it is for the information of the Board and management of Bolton at Home Ltd and its subsidiaries only and that it will not be distributed to others, quoted or referred to, in whole or in part, without our prior written consent. 

## **Audit status and audit opinion** 

Our audit work is substantially complete and there are currently no matters which would require modification of our audit report, subject to the outstanding matters detailed below. 

Receipt of signed management letters of representation Receipt of signed financial statements 

We do not propose any modifications to our audit opinions which are unqualified. 





## **Findings related to significant risks** 

Significant risks are defined by professional standards as risks that, in the judgement of the auditor, require special audit consideration. In identifying risks, we consider the nature of the risk, the potential magnitude of misstatement, and its likelihood. Significant risks are those risks that have a higher risk of material misstatement. 

|**Risk**|**Audit approach and conclusions**|
|---|---|
|**Management override of controls**||
|Management is in a unique position to perpetrate fraud|Our audit testing included detailed testing and overall|
|because of management's ability to manipulate|review of journals as well as a review of accounting|
|accounting records and prepare fraudulent financial|estimates used and the rationale behind them.|
|statements by overriding controls that otherwise appear||
|to be operating effectively.|We did not identify evidence of management override of|
|Although the level of risk of management override of|controls.|
|controls will vary from entity to entity, the risk is||
|nevertheless present in all entities. Due to the||
|unpredictable way in which such override could occur, it||
|is a risk of material misstatement due to fraud and thus||
|a significant risk.||



## **Risk of material misstatement: High** 

## **Going Concern** 

In line with the approach required by ISA 570, going For each entity we reviewed and assessed post year concern has been identified as a significant risk. end forecasts and performance to analyse the ability of the entities to be a going concern for the next 12 **Risk of material misstatement: Medium** months. We also factored in available funding and each entities funding needs for the next 12 months. 

For the following companies we have obtained letters of support from Bolton at Home: Maxmedia Communications Ltd, R-Haus Living Ltd, and Stonecross Homes Ltd, 

Starts with You has not been deemed a going concern this year given the decision taken post year end to cease to trade through that company. 


2 



## **Other identified risks** 

**Risk Audit approach Fraud in revenue recognition** Material misstatement due to fraudulent financial We have performed detailed substantive audit testing reporting relating to revenue recognition is a presumed on income streams risk in ISA 240 (The Auditor's Responsibilities Relating with the exception of Maxmedia (please see appendix to Fraud in an Audit of Financial Statements). 3). From a group position, there are no significant issues **Inherent risk of material misstatement:** noted from our work performed. **Accuracy: Medium Completeness: Medium Cut off: Medium Provisions for disrepairs and repair and improvements** We obtained and reviewed the basis of the calculations The provision is an estimate in the financial statements and corroborated back to appropriate supporting therefore at risk of material misstatement. evidence. We have raised a judgemental unadjusted difference in **Inherent risk of material misstatement:** relation to this. **Completeness: Medium Valuation of fixed assets** The value of investment properties should be reviewed We have reviewed the external valuation reports and annually. compared these to the carrying values of fixed assets, There are properties held for sale which could be held investment properties and properties held for sale. at an overstated value in the financial statements. We also considered impairment indicators and reviewed **Inherent risk of material misstatement:** from the Bolton at Home Group. **Valuation: Medium** We have not noted anything to report based on our work. 

## **Defined benefit pension scheme** 

There is a risk that the liability and disclosures in respect of the defined benefit pension scheme with Greater Manchester Pension Fund may be materially misstated. 

We have reviewed the actuarial valuation report including the assumptions which underpin the calculation. We have also reviewed the actuar experience and independence from the Bolton at Home Group. 

The financials and disclosures are consistent with the valuation report that has been provided. 

Discussions are still being held around the opening balance in conjunction with the asset ceiling report supplied by the actuary. There is a potential £5.2m adjustment here to the opening balance. 

## **Arcon transfer of assets** 

Given the fact that all the assets, liabilities and trade of Arcon Housing Association will be transferred to Bolton at Home prior to the year end this has been identified as a risk given the unique nature of this transaction. 

We held proactive discussions with the finance team before journals and disclosures were processed. 

There is no requirement for financial statements to be filed following the entity being de-registered. 

No concerns were noted from our work performed. 


3 



There were no changes to our audit plan previously communicated to you. 

## **Going concern** 

basis and there are no material uncertainties relating to going concern which should be disclosed in the financial statements. 

Please see the going concern section, under Significant Findings, for our comments on the necessary letters of support which are needed to support this conclusion. 

The accounting policies used in preparing the financial statements are unchanged from the previous year. 

Our work included a review of the adequacy of disclosures in the financial statements and consideration of the appropriateness of the accounting policies and estimation techniques adopted by the company. We found the disclosed accounting policies, significant accounting estimates and the overall disclosure and presentation to be appropriate for the company. 

## **Fraud or suspected fraud** 

We have not been made aware of any other incidents in the period and no other issues have been identified during the course of our audit. 

Our work as auditor is not intended to identify any instances of fraud of a non-material nature and should not be relied upon for this purpose. In the event that the directors wish to obtain enhanced assurance with regard to the effectiveness of internal control in preventing and detecting fraud we should be happy to provide additional services. 

## **Non-compliance with laws and regulations** 

As part of our standard audit testing, we have reviewed the laws and regulations impacting the business. There are no indications from this work of any significant incidences of non-compliance or material breaches of laws and regulations stopping the business from continuing as a going concern or that would necessitate a provision or contingent liability. 

There are also many other laws and regulations relating to health and safety as well as human resources generally and industry specific requirements. We are not aware of any significant incidences of noncompliance. 

## **Written representations** 

We enclose the draft letters of representation, we will request the Board sign these at the same time as the financial statements are approved. 

## **Related parties** 

We are not aware of any related party transactions which have not been disclosed. 

## **Confirmations from third parties** 

All requested confirmations have been received. 

We are required to inform you of any significant misstatements within the financial statements presented for audit that have been discovered during the course of our audit. Details of items corrected following discussions with management are set out in Appendix I. 

In addition, a number of non-trivial uncorrected misstatements were discovered during the course of our audit and a summary of these can be found within Appendix II to this letter. 


4 



The purpose of an audit is to express an opinion on the financial statements. As part of our work we considered internal controls relevant to the preparation of the financial statements such that we were able to design appropriate audit procedures.  However, this work was not for the purpose of expressing an opinion on the effectiveness of internal controls. 

We are required to report to you in writing, significant deficiencies in internal controls that we have identified during the audit. These matters are limited to those which we have concluded are of sufficient importance to merit being reported to you. 

The scope of our work is not designed to be an extensive review of all internal controls.  If we had performed more extensive procedures, we might have identified more deficiencies than those reported in Appendix III below. 

audit letter to you dated 19 January 2024 confirming audit planning arrangements there are no further matters to bring to your attention in relation to our integrity, objectivity and independence. 

We confirm that all threats to our independence have been properly addressed through appropriate safeguards and that we are independent and able to express an objective opinion on the financial statements. 

The contents of this report relate only to those matters which came to our attention during the conduct of our normal audit procedures which are designed primarily for the purpose of expressing our opinion on the financial statements. We do not accept any responsibility for any loss occasioned to any third party acting or refraining from acting on the basis of the content of this report, as this report was not prepared for, nor intended for, any other purpose. 

We would like to take this opportunity to record our appreciation for the kind assistance provided by your team during our audit. 

If we can be of any further assistance, please contact Susanna Cassey and Adam Hilton-Mason. 

Yours faithfully, 


## **Azets Audit Services** 




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