2025-04-05-accounts

A J B HUDSON MEMORIAL CHARITY

Registered Charity Number 227925

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TRUSTEES ANNUAL REPORT AND FINANCIAL STATEMENT

YEAR ENDED 5 APRIL 2025

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Reference and Administrative Information

Charity Number: 227925

Trustees

Charles Alexander Burnell Hudson Colonel Harry John Lowles C.B.E., formerly of The Worcestershire Regiment, (until 9 April 2024) Colonel John Hamlyn Bryant, formerly of The Worcestershire Regiment Captain David James Bezzant, formerly of The Worcestershire Regiment David Charles Waldron, Worcestershire Royal British Legion Gabriel Charles More Hudson Lieutenant Colonel Mark Lucian Jackson O.B.E., formerly of The Worcestershire and Sherwood Foresters Regiment Penelope Jane Gordon

Treasurer

Neil Smith

Secretary

Dr Amanda Tanfield

Chaplain

The Reverend Canon Roger Spiller

Principal Office

Wyke Manor, Main Street, Wick, Pershore, Worcestershire, WR10 3NZ

Accountants

Folkes Worton, 15-17 Church Street, Stourbridge, West Midlands, DY8 1LU

Bankers

CAF Bank, 25 Kings Hill Avenue, Kings Hill, West Malling, Kent ME19 4JQ

1

Report of the Trustees for the Year Ended 5 April 2025

1. The Trustees present their annual report and financial statement for the Trust for the year ended 5 April 2025. The financial statements have been prepared in accordance with the Trust’s governing document, the Charities Act 2011 and the Charities Statement of Recommended Practice (FRS 102).

Structure, Governance and Management

1. The Trust is a registered charity, registered with the Charity Commission on 4 November 1965 under registered charity number 227925, and is constituted by Schemes of the Charity Commission dated 15 April 1958, 25 August 1965, 11 March 1997 and 12 September 2001, and the Resolutions adopted on 6 October 2020, 6 April 2021 and 9 April 2024.

2. Under the Resolution adopted on 6 October 2020, the Trust will have a minimum of five and a maximum of eight Trustees (currently there are seven). The then-existing Trustees were reappointed for periods of three, four or five years; subsequent appointments are for five years.

3. At the regular Trustees’ meetings, the Trustees agree the broad strategy and areas of activities for the Trust, including consideration of investment, reserves and risk management policies and performance. The Trustees meet twice a year and as/when required. The day-to-day administration is delegated to the Secretary.

4. New Trustees are appointed by the existing Trustees. The Trust complies with the ICSA guidance note Charity Trustee Recruitment . Trustee recruitment takes into account experience, empathy and knowledge of the Trust as well as the need to maintain the skills and composition of the Trustee Board. The Trustees actively seek those with a knowledge of the local regiments and/or service.

5. On appointment, Trustees sign a declaration of acceptance and of willingness to act in the trusts of the Charity, in accordance with the Trust’s governing document. The induction process follows the ICSA good practice guide, with the induction programme for a newly-appointed trustee being led by the Secretary, to include a meeting with the Chairman and Secretary on the powers and responsibilities of the Trustee board and the Trust’s assets, investments, policies and activities. The welcome pack includes, amongst other information and guidance, a brief history of the Trust, Trustee board composition and recent board minutes, the last three years’ annual reports and accounts, a copy of the Trust governing document, and a copy of the Charity Commission guidance booklet, The essential trustee: what you need to know, what you need to do . Trustees and officers are also required to sign the Trust’s Code of Conduct and Data Protection Policy and complete a Declaration of Interests.

6. All Trustees give of their time freely and no Trustee remuneration was paid during the year. Details of Trustee expenses and related party transactions would be disclosed in the accounts. There were none to be disclosed in this financial year. Trustees are required to disclose all relevant interests and register them with the Secretary and, in accordance with the Trust’s policy, to withdraw from decisions where a conflict of interest arises.

2

Objectives and Activities for the Public Benefit

1. The Trust was established through the Will of the late Caroline Elizabeth Hudson of Wyke Manor, Wick, near Pershore, Worcestershire, in memory of her son, Lieutenant Alban John Benedict Hudson, who died in action during the first World War.

2. The object of the Trust is the assistance of disabled ex-service personnel of the Armed Forces of the Crown and ex-service personnel who are in need. The Trust does not actively fundraise and seeks to continue the charitable work desired by the Settlor through the careful stewardship of its existing resources, the income to be applied for the relief of ex-service personnel of the Armed Forces of the Crown who are disabled and/or in need (preference being given to ex-members of The Worcestershire Regiment and descendant Regiments, currently The Worcestershire and Sherwood Foresters Regiment and The Mercian Regiment).

3. The charity achieves its object through the provision of affordable Trust housing, situated in Wick. As well as paying for the upkeep and repair of the Trust’s properties, Trust income may be applied for the upkeep and repair of the chapel at Wyke Manor (consecrated in Lieutenant A J B Hudson’s memory) and the performance of divine service therein, so long as services remain open to Trust residents and staff.

4. The Trustees confirm that they have referred to the Charity Commission’s general guidance on public benefit when reviewing the Trust’s aims and objectives and in planning future activities and when considering their approach to applications from prospective tenants of the Trust properties.

Achievements and Performance

1. The Trustee Board met in person in April 2024, June 2024 and October 2024. At the April meeting, the Board bid farewell to Colonel John Lowles and thanked him for his 26 years of valuable service to the Trust. The June meeting was a special session to meet representatives of Worcestershire County Council’s Worcestershire Armed Forces Covenant, to develop links potentially helpful to the Trust’s future work. Mr Charles Hudson and Lieutenant Colonel David Bezzant were reappointed as Trustees at the October meeting, and Mr Charles Hudson reappointed as Chairman.

2. There has been no turn-over of Trust tenancies over the past year, with all seven Trust beneficiary properties and the single investment property being let for the full period. A number of routine maintenance and refurbishment tasks have been completed and a loft extension project for Cora Lynn was approved, to start later in 2024.

3. The Trust’s constitution was amended on 9 April, in line with Charity Commission guidance to the Trust on Trustee benefit.

4. The Trust’s finances remain strong, with the letting at commercial rates of the Trust’s investment property and two garages contributing 32% of income this year, against the investment policy target of 15-20%.

3

Financial Review

1. The Trust’s work is entirely reliant on rental income from its seven beneficiary properties, let at well below market rate, plus one investment property and two garages, let at full market rate. The Trust’s gross income for the year amounted to £43,131 and expenditure to £14,893. Details are shown in the accounts for the year. The balances in the Trust’s CAF bank accounts at the year-end were as follows:

2. CAF Bank – Gold Account £66,757

3. CAF Bank – CafCash Account £1,000

Reserves Policy

1. The Trust maintains revenue reserves for the purpose of meeting short term operating requirements and to fund larger projects, such as property improvements, in the longer term. The Trust’s revenue reserves are currently held in investment property and in cash. As part of its revenue reserves, the Trust maintains a cash reserve at the level required to meet planned and unforeseen maintenance and other operating expenses of its estate, and to cover any periods of reduced rental income. The Trust will endeavour to maintain a cash reserve equivalent to at least 10% of rental income (calculated at full market rates) plus three months to cover rental void periods. Cash reserve funds are held in the Trust’s bank accounts for instant access. The Trust is free to move any funds above the required cash reserve level into permitted investments. The Trust’s only current investment is its single investment property.

Approved by the Trustees and signed on their behalf by:

Charles Alexander Burnell Hudson

Chair of Trustees

4

A.J.B. HUDSON MEMORIAL TRUST REGISTERED NUMBER: 227925 STATEMENTS OF ACCOUNT FOR THE YEAR ENDED 5 APRIL 2025 Folkes Worton LLP 15-17 Church Stiret Stourbridge West Midlands DY8 ILU

A.J.B. HUDSON MEMORIAL TRUST COiYTENTS OF THE STATEMENTS OF ACCOUNT ￿￿]£.1.￿1L YEAR ENDED 5 APRIL 2025 Page A¢countanls' report Stateniet)t of financial activities Balaoce sheet Notes to the financial stateinents

A.J.B. HUDSON MEMORIAL TRUST ACCOUNTANTS, REPORT FOR THF. YEAR F,NDED 5 APRIL2025 We I'epoil on the accounts for the period ended 5 April 2025 Set oiit on page5 2 to 5. Respective responsibilities of trus1¢¢5 and accountaiits The ehai'ity's trustees are iespon5ible foi. Ilie preparation of the financial stateinents. The eharity's Iruslees considei. that an audit is not required foi. this year (Einder Section 14412) of the Chai'ities Act 2011) and that an ind¢pendeiit examination is required. It 15 our responsibility to.. exainine the accounts und¢r S¢ction 145 of the 2011 Act. follow the procedui'es laid down in the General Directions given by the Charity Commission (under Section 145 (5)Ib) of the 201 l Act),. and stale whether particular n)atters have come to our attention. Basis of our report Oiii. exainination was cari'ied out in accordance with the GeneTal Directioiis given by The Charity Commission. An exainination includes a review of the accounting records kept by the chai'ity and a coinparison of the accounts presented with those records. It also includes consideration of any unusual iteins or disclosuirs in the accounts, and seeking explanations from you as trustees concerning such matters. The pi'ocedures undertaken do not pi'ovide all tlie evidcnce that would be required in an audit, and consequently no opinion is given as to whether the accounts present a 'true and fail. view, and the iepoii is liinited to those matters set out in the stateiments below. ReportSng aecountants, sta)temtnt In connection with our examination, IMatteT has coine to our attention.. { l) which give5 us reasonable cause to believe that in any Inaterial respect the irquirements to keep accounting records in accordance with section 41 of the Act; and to prepare accounts in accoi'd with the accounting records and to comply with the accoiinting reqiiireinent5 of tlie 2011 A¢t have not been mel; or {2} in which, in our opirtion, attention should be drawn in ordei. to enable propei. understanding tsf the accounts to be reached. Eikes Ljoikn LLP Folke5 Worton LLP Chartered Aeeountants 15-17 Chiirch Street Stourbi'idge West Midlands DY8 ILU 15 October 2025 Page I

A,J.B. HUDSON MEMORIAL TRusr STATEIMENT or rilNANCIAL AcfiviTIES FOR THE YEAR ENDED 5 APRIL 2025 UnJEstricted Restricted incol￿t ittcome funds funds Total nds 2025 Total funds 2024 Endowinettt nds Note5 INCOME Rents received (beneficiaries) Rents received (investinenE} Garage rental CAF Bat]k interesl 28,057 11,483 2,242 1,349 43,131 28,057 11,483 2,242 1,349 43,131 26,100 10,711 2.376 941 TOTAL INCOME 40,148 CHARITY EXPENDITURE Salary and expenses of Secretaiy Audit and accoutEtancy chaTge5 l)l'nfe88io￿I fees Letting fees Insurance Rcpt)irs and maintenance of Trust House Bank chai'ges Chaplain's expenses TOTAL EXPENDITURE 3.375 828 3,375 828 1,700 792 3,259 6,856 60 515 3,259 6.856 60 515 3,455 24,360 60 500 14,893 14,893 30,867 NET INCOMEI(EXPENDITURE) Net gainsl(losses) on investmeiits NET MOVEMENT IN FUNDS 28,238 28,238 9,281 28,238 28,238 9,281 RECONCILIATION OF FUNDS Total funds brougbt forwa]xt TOTAL FUNDS CARRIED FORWARD 338.003 366,241 338 003 328,722 33R 001 366,241 Page 2

A.J.B. HUDSON MEMORIAL TRUST IIALANCE SHEET AS AT S APRIL2025 2025 2024 Notes FIXED ASSETS Taiigible assets 296,321 296,321 296,321 296,321 CURRENT ASSETS Debtor5 Casli at bank 5.020 67,757 5,208 54.042 72,777 59.250 CREDITORS Amtsunts falliiig due wiiljin one year 2.857 17,568 2,857 17.568 NET CURRENT ASSETS 69.920 41,682 NET ASSETS 366,241 338,003 CAPITAL AND RESERVES Capital account Reveiiue reseives 242,130 213.892 TOTAL FUNDS 366.241 338,OG3 The financial statemeiits on pages 2 to 3 weiE approved by the tiwslee5 011 7 October 2025 and signed on theii. bel)alf by.. Mi. C.A.B. Hu(Lson Ichaivman) The notes on pages 4 to 5 forin pal't of tliese finaiicial statel￿entS. Page 3

A..I.B. HIJD.8ON MLMVRIAL TRUST NOTEI S TO THE ACCOUNTS FOR THE YEAR ENDED 5 APRIL2025 I CHARITY EXPENDITURE ANALYSIS 2025 2024 Salary and expenses of Secretary 3,375 1,700 The Trust Secretary (since April 20171 Ès the Chaivs sister-in-law. 2 TANGIBLE FIXED ASSETS Houses, land alld co¢tages at Wick Chapel Furniture & Investments Total COST At 6 April 2024 Additiolls 296,320 65 296,385 At 5 Api'il 2025 296,320 65 296,385 DEPRE4 CIATION At 6 Api'il 2024 Charge foi. year 64 64 At 5 Api'il 2025 64 64 NET BOOK VALUE At 6 April 2024 296,320 296,321 At 5 April 2025 296,320 296.321 Market valuB at 0510412025 m￿.ket value at 0510412024 2,904,600 2,820,000 Page 4

A.J.B. HUDSON MEMORIAL TRUST NOTEI S TO THE ACCOUNTS FOR THE YF.AR F.NDF.D.S AI'RIL2025 3 DEI BTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 2025 2024 PIEpaid insiii?nc¢ Deposit Pi'olection Scheme 3,244 1,776 3,432 1,776 5,208 4 CASH AT BANK 2025 2024 CAF Charity Services Aecount CAF Gold Account 1,000 66,757 1,000 53,042 67,757 54,042 5 CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 2025 2024 Accrued maintenance Accnjed accountan¢y fee Tenant Deposits 253 828 1,776 2,857 15,0(N) 792 1,776 17.568 6 CAPITAL AND RESERVES Cap￿tal account Revenue reserves Total At 6 Apiil 2024 Surplusl(deficit) for the year 213,892 28,238 338.003 28.238 At 5 April 2025 124,111 242,130 366,241 Page 5