CharSty r•0i8tration number 226291 (England and Wal?Jl ALMSHOUSE CHARITIES (HULL UNITED CHARITIES) ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025
ALMSHOUSE CHARITIES (HULL UNITED CHARITIES) LEGAL AND ADMINISTRATIVE INFORMATION Trust••s J S Broughton A D Chaiknn Craughan O Morgan Mr5 Z ToWr C Waterhouse Cllr L Chambers N Moor Cllr A Singh M Morgan Revd L Deas T Neal Cllr (Appointèd 19 May 20241 Charity number (England and Wal991 226291 Principal addrvss Northumberland Court Northumbertan¢J Avenue Hull East Yorkshire HU2 OLR Independent •xamin¢r Jonathan Leathley FCCA The Grange Carr Lane Weel Beverbey HU17 OSQ
ALMSHOUSE CHARITIES (HULL UNITED CHARITIES) CONTENTS Page Trustees, rèport Independent examinerfs report Statement of financial activities Balance sheet Statement of cash flows Notes to the financial statements 9-18
ALMSHOUSE CHARITIES (HULL UNITED CHARITIES) TRUSTEES. REPORT FOR THE YEAR ENDED 31 MARCH 2025 The trustees present their annual pOrt and finaneial statements for the year endèd 31 March 2025. The financial statements have been prepared In accordan with the accounting policies set out on page 9, and comply with the Trust Deed, the Charities Act 2011 and Accounting and Retiorting by Charities.. Statement of Recommended Practice applicable to chantie5 preparing their accounts in accordance with the Finanoal Reporting Standard for Smaller Entities published on 16 July 2014. Objectives and aetivities The charity'5 objects are the proviston ol housing ac¢ommodation for beneficiaries of thè charity and such other charitable purpose3 lor those beneficiaries as the trustees decide. The policies adopted in furtherance of these objects are exprèssed in the trust deed and there has been no Change in these durin9 the year. The trustees have paid due regard lo guidance issued by the Charity Commission in deciding what activities the charity should undertake. The scheme provides category 2 supported housing accommodation wrthin Tts grade 2 listed building. This was built and opèned as Almshouses in 1887 and underwant Considerable improvement works during the 1990's, arid latterly an éxtensive refit followin9 the 2007 Hull floods and it now comprises 62 one and two bedroom s81f- contained flat5 5ilualed on two floors. Although set out within its own well maintained and landscaped grounds the scheme is located within an industri81 area about one mile from Kingston upon Hull CAty eonlre. Achièvements and perfomian¢e The trustees realise that given its location every effort must be made to makè the scheme as attractive as possible for both thè existing and perspective beneficiaries. Thi5 way the trustees hope to kèèp voids to inimum. The daily management resides with the Warden. Estate Manager and an Adminislralion Support Officer together with 2 dedicated cleaning staff. The trustees are very satisfied with the team the level of support given lo the beneficiaries. Approximately 72¢A of the benefieiaries are in receipt of stale support contribution lor the weekly maintenance allowance and just under 38tsk have a disability has been maintsined during the year. The eharity is an accreditèd Lwing Wage employor. The Board is continuing Wlth phased programme of repairing 48 chirnney stacks lo there original design. During the year the 808rd has continued to progress the development for the former allotment land. The Board is expecting a pre application planning application to be considarÈd before the end of 2025. Financlal revW The trustees prepare and aetively review an annual budget which al the time ol preparation includès a comprehensive review lo identify risk5 the charity may be exposed to in the next 12 months and establish pc>Iici85 to mbtigate thos8 risks. The Trustges ¢>)ntinue to aeerue part of the surplus towards the ongoing maintenance of the building in line with agreed policy. It is the policy of the chanty that unrestricted funds which have not been designated for a speafic use should be maintain8d at a level equivalent to beeen thfee and six month'5 expenditure. The trustees consider that reserve5 31 this level will ensure that. in the event of a significant drop in funding. they will be able to continue the charity's current activities while ConSeration is gwen tu ways in whith additional funds may be raised. This level ol resewes has been maintained throughout the year. The trustees undertake to invest available resources nol required imme¢Jiatety for the charity's purpose in such investments as authorised by the Irust deed.
ALMSHOUSE CHARITIES (HULL UNITED CHARITIES) TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 The trustees has assessed the major risks to which the charity is exposed, and are salisfied that Systems are in place to mitigate exposurè to the major risks. In respect of the new Value for Money slandard recently introduced our metrics are as follows:_ Reinvéstment 5.30h 12024.. 5.3°AI New Supply Delivered 12024. 11 Gearing 4.45 12024.. 4.451 Interest cover 4.27 12024.. 4.271 Headline Soci81 Housin9 Cost per unit £2,692 12024". £2.6921 Operating Margin Social Housing 22.0°A 12024. 22.0%) Return on Capital employed 4.03% 12024. 4.03°hi The Tru3tees have considered in depth the use of assets il controls and are satisfied these are being applied and met. Structure, govemaneè and management The charity was established by a charitable trust dèèd on 27th May 1913 as revised by scheme dated 8th May 2008, and is registered with the Ch8rity Commission Nr. 226291. The Almshouse Assoaalion Nr. M911 and The Hom&s and Communrties Agèn¢y Nr. A0132 . The trustees who served during the year and up to the dale of Signature of the finanrial statements were.. J S Broughton A D Chaikin M Craughan D Mofgan Mrs Z Towler C Vvaterhousè Cllr L Chambers N Moor Cllr A Singh Cllr C Randall M Morgan Revd L Deas T Neal Cllr (Resigned 19 May 20241 (Appointed 19 May 20241 At gUlar intervals new trustèès are sought to cover vaoancies which arisè wf(h in the board. Candidates who apply will be interviewed and offered an induction prior to appointment and they will have the skills idenlified as being required by the board. The board of trustees has the overall control and management ol the charity. It comprises ol no more than 15 trustees which can in¢lude at least 3 nominated by the local authority. The board mernbers are encouraged to attend thè regular National Association olAlmshouse5 seminars hekj normally during each yèar.
ALMSHOUSE CHARITIES (HULL UNITED CHARITIES) TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 The charity oversees the m8nagemenl of the Alderrnan Cogans, School Fund, Mderman Cogans, School Foundation and Alderrnan Ferries, Charity (Hull United Charities). The tru5tees' report was approved by the Board of Trustees. Craughan Chairman ol thè irustee5 Dated.. 6 November 2025
ALMSHOUSE CHARITIES (HULL UNITED CHARITIES) STATEMENT OF TRUSTEES, RESPONSIBILITIES FOR THE YEAR ENDED 31 MARCH 2025 The trustèes are responsible for preparing the Trustees, Report and the financial slalements in accordance with applicable law and United Kin9dom Accountin9 Standards (United Kingdom Generally Accepted Accounting Practicé). The law applicable to charities in England and Wala$ requires the trust998 to prepare financial statements for each financial year which give a true and fair view ol the stale of affairs ol tha ¢harily and of tho inming resources and application ol r*50urces ol the charity lor that year. In preparing these financial statements. the trustees are required to.. select suitable aceounting policies and then apply them consislenlly.. observe th8 methods and principles In the Charities SORP., make judgements and eslirnal8s that are reasonablg ana prudent., stale wheihèr 8pplicable accountin9 Standards have ba•n followed. subj8Ct lo any material departures disclosed nd explainad in the financial slalemènts, and prepare the financial slatemenls on th• going concern basis unle$¥ rt is Inappfopriale lo presume that tho ¢harity will continue in oporation. The Iruste¢s are responsible lor keepin9 sufficient accounting records Ihal dis¢lose wilh reasonable accuracy at any time tha financial position of Ihg Charity and enable them lo ensure thal the financial stalamgnls comply with the Charilies Act 2011. the Charily IAeeount5 and Reports) Regulations 2008 and the provisions of the trust deed. They ara also responsible lor sale9uarding the assets of the charity and hence for taking rgasonable slaps lor Ihg prevèntion and detection ol fraud 8nd other irregularill&8,
ALMSHOUSE CHARITIES (HULL UNITED CHARITIES) INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF ALMSHOUSE CHARITIES (HULL UNITED CHARITIES) I report lo the trustees on my examination of the fin8ncial statements of Almshouse Charities (Hull Unrted Charitiosl Ilhe charilyl lor the year ended 31 March 2025. R•spon¥ibilities and ba*1• of report As the Iruslees of the charity you are r&spon8ible for the preparation of the financial stattsmenls in accordance with the requirements ol the Charities Act 2011. report in respèct ol my eXaMinatn ol the charity's financial statements carried out undef section 14S of th¢ Charities Act 2011. In carrying out my examinalion I h8ve followed th8 0irè¢tions given by the Charity Commis$lon under section 1451Sllbl ol the Charitlgs Act 2011. Ind•p•nd•nt •xamln•trty •&Jtom•nt Since the charity's gros$ income exceeded £250,000 your examingr musl be a rn8mber of a body lislod in section 145 of the 2011 Act. l nf1rr that l arn qualified lo undertaka the examination because l arn a rn&mber of The Institute ol Chartered Certified Accounlants, which 15 one ol tha Iisl8d bodies. Your ottenlion is drawn lo the fact that the eharity has prepar8d the financial st8lem8nls In accordance with the relevant version ol the Statement of Re¢¢mmended Practi¢e applicable to choritie5 preparing Ih&ir financial statements In aceordance with the Financial Reporting Sland8rd applicable in the UK and Republic of Iro18nd IFRS 1021 in preferènce Its the Accounting and Reporting by Charilie$' Slatement ol Recommended Pr8Cti¢e Issued on 1 April 2005 which is referred to in the axlanl regulalions bul has now been withdrawn. l understand that this has been done in ord&r lor the financial slatèm?nl3 lo provide a true and lair vièw in accordance wilh UK Generally A¢¢8pted Accounting Pf8¢ti¢e. I have e£Jmpleled my eyamlnation. I confi'rm Ihal no matters have come lo my attonllon in connectlon wblh Ihe examination givlng me cause lo believ9 that in any material respect.. accounting rocords were not kept in respecl ol the charity as roquired by section 130 ¢f the Chorilles Act 2011. the financial Statements do not accord with those record5', or the financi81 slalements do not comply with the applicable requifemgnls concerning the form and content ol rinancial slalem8nl8 sel out in the Charities (Account3 and Repor151 Regulations 2008 olhgr than any requirement that the financial statemenls give a true and fair view. which is not a matler considered as part ol an indep6ndent examinalion. I have no concerns and have come across no other matter8 in connection with the examination lo which attention Should be wn In Ihis report in ordar lo enable a proper understanding ol th$ financial statem¥nt8 to be reached. athan Laathley FCCA hè Gran9e Carr lane Weel Bgverley HU17 OSQ Datgd." 6 November 2025
ALMSHOUSE CHARITIES (HULL UNITED CHARITIES) STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 MARCH 2025 Unrestricted funds 2025 Unrnstricted funds 2024 Note• Income and •ndowmenQ• from: Charilable ac11vil$ Invèstments Olh8f income 501,321 25,373 5,886 489,868 15.921 6.121 Total In¢om• 532,580 511,908 Expènditur• on: Chanlable aclivit*s 484,840 467,319 Total •xp•ndltur• 484,840 487,319 N•t In¢om¢ and mov•m•nt In fvnd• 47,740 44,589 R•conelll•tlon ol lund•: Fund balances al 1 Apnl 2024 1,888.035 1,843.446 Fund b•l•nc•• at 31 M•r¢h 2025 1.935.775 1,888,035 The stalemont ol financial actiwti8s indudes all gains arKJ1038os rwnised in the yeaf. All inoJm8 an¢J expenditure derive from ¢onlinuing activitl83.
ALMSHOUSE CHARITIES (HULL UNITED CHARITIES) BALANCE SHEET AS AT 31 MARCH 2025 2025 2024 Nots3 Fixed assets Tangible assets Investments 12 13 1,735,000 506.422 1,735.000 434.038 2,241.422 2.169.038 Current assèts Debtors Cash at bank and in hand 14 16.868 67.555 20,596 111.887 84.423 132,483 Cr8dltorn= amounts falling du• within one year 16 155.8431 154.267 N•t curr•nt assets 28.580 78.216 Totsl ##¥ets less current liablliti 2.270.002 2,247.254 CreditorJ'. amounts falling du• aftèr more than one year 17 1334.227 {359.219 Net ass•ts excluding pension liability 1,935,775 1.888,035 Net assets 1.935.775 1.888,035 The funds ofthe charity Unrestricted funds 1,935.775 1.888.035 1.935.775 1.888.035 The financial statements were approved by Ihe trustees on 6 November 2025 M Craughan Chaimian of thé tru*ts
ALMSHOUSE CHARITIES (HULL UNITED CHARITIES) STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 MARCH 2025 202S 2024 Notos Cash flows from operatlng activitieg Cash generated from opÉr8tions 22 27.671 7,309 Investing aetivities Purchase ol investrnenls Proceeds Irom disposal of investmènts Investment Income received 152.2211 120.1631 25.373 1434.0161 15.921 N•t ¢ash used in investing actlviti¢s (47.0111 1418,0951 Financing a¢VItI0$ Repaymant of bank loans 124,9921 116,3791 Net cash u8ed in financing acti¥ltl•* 124.9921 116.379 Nèt decreas• In ea•h and cash èquivalents 144.3321 1427,165 Cash and cash equivalents at beginning of year 111.887 539.052 Cash and cash equlvalènts at end of yéar 67.555 111.887
ALMSHOUSE CHARITIES (HULL UNITED CHARITIES) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 A¢¢ounting policies Charity infomotion Almshouse Charities (Hull Unrted Charrtiesl is a charity established by a Charrtab trust deed on 27th May 1913 as revised on 8th May 2008 and is registerèd wrth the Charty Commissionef5 Nr. 226291. It is registered w¢th the Almshouse Asso&atn Nr. M911 and Homes England Nr. A0132. 1.1 Accounting convention The financial siat6ment5 have been prepared in accordance with the rharity's goveming document. the Chanties Act 2011. FRS 102 "The Finanual Reporting Standard applicab in the UK and Republic ol Ireland" and Ihe Charrties SORP "Accounting 8nd Reportln9 by Chants." Statement ol ReTh)mmended Practi applicable to ¢harrties preparFng their accounts in ?jranCe wrth the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021" The charity is a Public Benefrt Entity as defined by FRS 102. The finanoal statements have departed from the charits (Accounts and Reports) Regulations 2008 only to the extent required to provide a true and fair vw. This departure has involved following the Statement of Recommended Practice lor Chafrties apptying FRS 102 rather than the vèrsion of the Statement of Rècofflmended Practica which 15 refed to in the RegulatK)ns but whth has sincè been withdrawn. The financial statements are prepared in steding. which is the functional currew of the charity. Monetary amounts in these finanaal statements are roundèd to the nearest £. The financial statements have beèn Prepared un¢Jer the historical o)st convention. Imodified tts include the revaluation of freehold properties and lo indude investment properties and ¢rtain financial instruments at lair valuel. The principal accounting policies adopted are sel oul below. 1.2 Going concern At the lime ol approving the financial statements. Ihe trustees have a reasonable expe¢tation that the chanly has adeqLsate resources io continue in operatK)nal exislence for the foreseeab future. Thus the trustees ¢onbnue to adopt thè going concem basis of a¢¢ounting in prèparing the finanual ststements. 1.3 Charltablo fund¥ Unreslricted funds are availab for usé at the disuelion of the tnjstees in furtherance of thèir charrtab objectives. Restricted ftJnd5 are subject to speciffic condrtions by donors or granto[5 as lo how they may be use(J. The purposes and uses of Ihe $trIcted funds are set OLtt irb the notes io the financial statements. Endowment funds are subp¢t lo Spe COndlI0n$ by donors that the capital must be maintained by the charity. 1.4 Ineome Income is re¢ognisefl when the charity is tegalty entilkd to rt after any performance condition8 have been met, the amounts (n be measured relkabty. arhd rt is probab that irMxme will TerEived. Cash ttonations are recognised On receipl. Other (Jtsnations are recognised once the charrty has been notified of the donaton. unless performance conditions require deferTal of the amounl. Ino)me tax recoverable in relation to ¢Jonalions received under Grft Aid or deeds of ¢x)¥enant is recognisèd at the time of the (k)nation. Legacies afe recognisat1 on r1p1 or otherwise rf the (*arty has baen notifd of an impending distribution, the amount is known, and receipt is expected. If Ihe amounl is not known. Ihe legacy is ire8ted as a contingent asset.
ALMSHOUSE CHARITIES (HULL UNITED CHARITIES) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AIARCH 2025 Aecounting pollcSè8 (Continuedl 1.5 Expenditure Expenditure is recognised once there is a legal or constructive obligation to transfer economie benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement, and the amount ol the obligation can be measL¢red reliably. Expenditure is classified by activity. Th$ e05ts of each activity are made tsp ol the lot31 of direct Cost5 and shared costs, including support costs inVoed in undertaking each activity. Direct cost8 attributable to a single activily are alloeAted directly lo that activty. Shared costs which ntribUte to more than one activity and support costs which are not attributablè to 8 single activity are apportioned heeen those activities on a basis consistent with the use of resources. Central staff costs are alkncated on tha basis of time spent, and deprèciation charges are allocated on the portion of the asset's use. Plannéd r•pairs There is an established regular programme of cyclical repairs. Costs arè charged to the income and expendilure account in the year in which thèy are incurred and an equivalent amount is released from designated SerVeS. as 8PPTopriate. Major paIrS Costs of major repairs, Unless repTe5enling improvements lo the properties, are charged to the income and eKpendilure account in the year sn which they are in¢urTed and the equivalèni amount is released from designated reserves, 4$ appropriate 1.6 Tangible fi¥ed assets Tangible fixed assets are initially measured al cost and 5ubsequantly measured at cost or valuation. nei ol depreciation and any impairment losses. Oepreciation is recogni5ed so a5 lo write off the cost or valualion of assets less their residual values ovgr their useful lives on the following ba3es'. Land and buildings shown al valuation The gain or loss arising on the disposal of an asset is determined as the dIffenCe beeen the sale proc¢&ds and the cairying value of the asset, and is recognistrd in the statement of finan¢i818Ctivities. 1.7 Ftx¢d a$8et investments Fixed assot invèstments are initially measured 31 IFansaction price excluding transaction costs. and are subsequently mea5ur8d at fair value at each rèportlllg date. Changes In laii value are recognised In net incomellexpenditurel lor the year. Transaction costs are èxpensed as incurred. 1.8 Impoimient of fixed assets At each reporting end date, the charity reviews the carrying amounts of its tangible assets to determine whether there is any inditIOn that those assets h8ve suffered an impairment loss. If any such indication exists, the recovèrablè arnount of the asset is estimatéd in order to determinè the extent of the impaifment loss lif any). 1.9 Cash and cash •quivalents Cash and cash equivalents include cash in hand, deposits held at call with banks. other short-term liquid investments with original maturities of three months or 1&8s, and bank overdrafts. Bank overdrafts are shown within borrowings in currant liabilities. 10-
ALMSHOUSE CHARITIES (HULL UNITED CHARITIES) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 A¢counting policies (Continued) 1.10 Financlal instruments The charity has elected to apply the provisions of Section 11 '885ic Financral Instrum&nls' and Section 12 'Other Financial Instruments Issues. of FRS 102 to all ol its financi81 In5trumenl5. Financial instnjments are recognised in the charity's balance sheet when the charity bè¢omes party to the contractual provisions of the instrument. Financial assets and liabilities are offset, with the net amounts presentèd in the financial statements, whèn there is a legally enforceable right to sat off the recognised amounts and thoie 18 8n intention to settle on 8 nèt basis or to realise the asset and settle the liability simultaneously. Basie financial assets Basic financial assets. which indude debtors and cash and bank balances, are initialty measured at transaction price including transaction costs and are Subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction. where the transacts'on is measured at the present value of the future receipts discounted at a mathèt rate ol interest. Financial assets classified as receivable within one year are not amortlsed. Basic finanelal liabllitiés Basic financial Iiabililies, including creditors and bank loans are initially recognised at transaction pricè unless the arrangement Ix)n5titutes a financing transaction, where the debt in5trumenl is measured at the present valuè ol the future payments discounted al a markat rate of interest. Financial liabilities classified as payable within one year are no¢ amortised. Debt instruments arg subsequently carried at amortised cost, using the effective interest rate method. Trade creditors are oblig81ions lo pay for goods or services that have been acquired in the ordinary courso of operations from suppliers. Amounts payable ale classified as current liabilities if payment is due within one year or le55. If not. they are psented as non-¢urrent liabilities. Trade creditors are recogn15ed initialty at IrarEsaction price and subsequently m68surad at amortised cost Using Ihe effectwe intarèst method. Derecognition of financlal Ilabllhl•s Financial liabilities are defecogniBed when Ihe charty's contradual tsbligations expire or are discharged or cancelled. 1.11 Employoe boneflts The c05t of any unused holiday entitlement is recognised in the period in which the employee's Services are received. Termination benefits ar8 recognisad immediately as an expense when the ¢harty is demonstrably commttted to terminate the employm8nt of an employee or to provide termination bèn8fits. Critical aeeounting estimate$ and jud9ements In th& applicAtion of the charity's accounting policies, thè trustees are required to make judgèmènts, estimates and assumptions about the carrying amount of assets and li8bililies that are not readily apparent Irorn olher sources. The estimat8s and associated assumptions are baséd on historical experience and other factors that are considered to be relevant. Actual results rnay differ from these estimates. The estimates and underlying assumptions are reviewed on an ongoing basis. Ravision5 to accounting estimates are recognised in the period in which the estimate is revised where the revision affect5 only that period, or in the period of the revision and futura paiiods where the revision affects both curfent and fulufe periods.
ALMSHOUSE CHARITIES (HULL UNITED CHARITIES) NOTES TO THE FINANCIAL STATEMENTS {CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Charltabl• •ctlvltles W•okly contrlbutlon 2025 Weekly conlrsbulion 2024 We8kly maintenance contributsons 501,321 489,868 Voids for the ytrar amounted to £6,32812024.. £7,649). The number ol unit618t 6212024. 821 Incom• from Inv••trn•nts Unr••trl¢tod Unr••trlct•d fund• lund• 2025 2024 Inlaresl receivable 25,373 15,921 Other Incom• Unr••trlct•d Llnv••trfctsd fundg lund 2026 2024 Other Income Management lees 1,121 5,000 5.000 5.888 6,121 12-
ALMSHOUSE CHARITIES (HULL UNITED CHARITIES) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Charitablo activiil•s Supported Supportgd housing housing 2025 2024 Staff costs Water rates Healing and Lighling Insurance Routine rraintenance Garden upkeep Contracted services Security costs Planned maintan8n¢e Cleaning Bank Interest payable Resident services Professional fees relating to propety 110,853 15,769 72,037 14,691 144,550 9,083 9,542 2.920 40,560 3,447 21,811 1,502 5,783 104,418 14.636 65,271 14.583 99.202 8.983 2,362 2.095 94,127 2.784 33.621 452,548 442.082 Share of support costs (see note 71 Share of governance Costs (see note 7 17,810 14,482 13.759 11,478 484,840 467.319 13
ALMSHOUSE CHARITIES (HULL UNITED CHARITIES) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Support costs Support Govèrnanc? costs ¢osts 2025 2024 Ba¥18 of allocation Oftice and computer co$1$ Telephone and fax Sundry expenses subseriplion5 Bank charges 10,925 3,100 535 2,233 1,017 10.925 3.100 535 2,233 1.017 8,347 2.825 286 1.644 657 Independent Examination Legal and professional Trustee expens&$ Other professional costs 6,370 4.227 1.555 2,330 6.370 4,227 1,555 2,330 5,270 Govemance Governancè 1.039 Govemance 5,189 Governance 17.810 14,482 32,292 25,237 Analysed beeen Charitable activities 17.810 14,482 32.292 25,237 Net movem•nt in fund¥ 2025 2024 The net movement in funds is slated after chargingllcreditingl.. Feè$ payable for the independent examination ol the charity's ffinancial statements 6,370 5.270 Trugtses None of the trustees lor any persons connaeted with them) received any remuneration during the year. There weré £1.554 of expenses r6imbursÈd to Trustees in respèci of travel costs incurred on Charity business. 10 EmployÈ•¥ The average monthly number of employees during the year was". 2025 Numbèr 2024 Numb•r Direct Charitable 14
ALMSHOUSE CHARITIES (HULL UNITED CHARITIES) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 10 Employ••s Icontbnuedl Employm•nt costs 2025 2024 Wagès and salaries Social sècurity co8t8 107,193 3.660 101,546 2,872 110,853 104,418 There were no 8mployo03 whose annual ramun8ro11on was more than £60,000. 11 Taxatlon As a charity it 18 exempt from tax on Income and gains falling within Sectlon 505 of the Taxes Act 1988 of Section 256 of the Taxation ol Char9èablè Gains Act 1992 to thg extgnl that tttos8 are applied to 11$ charitable obig¢ts- no tax charges have arisgn In the charity. 12 T•nglbl? flx•d a•i•ts Lind bulldlng¥ Co•t Al 1 April 2024 1,735,000 Al 31 March 202S 1,735,000 Carylng amount At 31 March 2025 1,735.lYJO At 31 March 2024 1,735,000 The property wa$ re-valued al £1.735.000 on 2Slh March 2022 by Bradley Han, Chartered Surveyors uslng an existing use value lor social housing and in accordance with RICS Appraisal and Valuation Manual. There are no records available of the original c05t ol the propgrty but the last improv8m&nls (y)mpl8ted in th8 1990's totalled £1.888.266. 15-
ALMSHOUSE CHARITIES (HULL UNITED CHARITIES) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 13 Fixed asset inv•stm•nts Listed Unlistèd inve8tm•nts investments Totsl Co¥t or valuatlon At 1 April 2024 Additions 434,016 52,221 22 434.038 52.221 At 31 March 2025 486,237 22 486,259 Carrying amount Al 31 March 2025 486.237 22 486,259 At 31 March 2024 434.016 22 434,038 14 Debtors 2025 2024 Amounts falling dug within one year: Trade debtors 16.868 20,596 15 Loans and overdrafts 2025 2024 Bank loans 365.127 390.119 Payable within one year Payable after one year 30.900 334.227 30.900 359.219 The bank loan is $ecured against the property with The Charity Bank. Repayment5 continue until 2040 al an interest rate of 2.25¢h over Bank of England Base rate. currently 4.75%. 16 Creditor¥: amounts falllng dué within one year 2025 2024 Notg Bank loans Trade credilofS Other creditors Accruals and deferred income 15 30.900 13.931 351 10,661 30,900 12,370 335 10,662 55,843 54,267 18.
ALMSHOUSE CHARITIES (HULL UNITED CHARITIES) NOTES TO THE FINANCIAL STATEMENTS {CONTINUEDI FOR THE YEAR ENDED 31 MARCH 2025 17 Crèditor8.' amounts falling due aftèr more than on• y•ae 2025 2024 Notes Bank loans 334.227 359.219 18 Unr•$triet•d funds The un¥eslricled lunds of the charity MprIse the unexpended balances of donalion5 and grants which arè not subioct to specific conditions by donors and grantors as to how they may be used These include designated funds which have been set aside out of unrestnctèd funds by the trustees for Specific purposes. At 1 April 2024 Incomlng r•sourc•s Re¥ources At 31 Mareh gxpondod 2025 General funds Revaluation reserv8 1,105,429 782.606 532.580 1484,8401 1.153.169 782,606 Prevlou8 year: At 1 April 2023 Incoming r•sou Resourcès At 31 March expend•d 2024 General funds Revaluation resèrve 1,060.840 782.606 511.908 1467,3191 1.105,429 782.606 19 Flnaneial eommitmonts, guarant••s and contingent Ilabllltl•¥ The trustee5 have confirmèd Ihal there were no contingent liabilities whi¢h should be disdosed at 31st March 2025. 20 Capltal commltmgnts Amounts contracted for bu¢ not provided in the financial statements.. The Irustees hava confirmed that there were no capitsl commitmenls at 31st March 2025. 21 R•latod paty tran¥¥ctlons Thè association is controlled by thè same trustees who act for the following charrties.. Aldem18n Cogan's School Charity Aldèrman Cogan's Fund Alderman Ferriès, Charity During Ihe period the a55ociation received managèmonl charges as follows". 2025 2024 £3,000 £3.000 £0 £0 £2,000 £2.000 Alderman Cogan's School Charity Aldèrman Cogan's Fund Aldèmian Ferries, Charity 17
ALMSHOUSE CHARITIES (HULL UNITED CHARITIES) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 22 Ca¥h generat•d from operations 2025 2024 Surplus for the year 47,740 44.589 Adjustm•ntJ for: Investment incom& recognised in statamgnt of financial activities 125,3731 115.9211 Movements in working capltal.. Oecreasellincreasèl in debtors Increaselldecreasel in creditors 3.728 1,576 112,6261 18.7331 C4¥h generated from opèrntion¥ 27.871 7.309 23 AnalysSs of ehangw4 in not Idobtllfunds At 1 April 2024 ash fiowsAt 31 2026 Cash al bank and in hand 111,887 144,3321 67,SSS Loans falling due wrthin one year Loans falling due after rnore than one year {30,9001 1359.2191 130,900) 1334,2271 24,992 1278,2321 119.3401 1297,5721 18