COVENTRY CHURCH {MUNICIPALI CHARITIES AND OTHERS
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
Regulator of Social Housing registration number.. A0581
Charity registration number 228486

COVENTRY CHURCH IMUNICIPALI CHARITIES AND OTHERS
INDEX TO THE FINANCIAL STATEMENTS
forthe year gndgd 31 March 2025
Registered Social HousirrtJ Provider Information
Trustees, Report
Report of the Auditors
Statement of Comprehenswe Income
10
Balance Sheet
Statement of Changes In Reserves
12
Statement of Cash Flows
13
Notes to the Financial Slalements
14-27
The Cty Charity of John Cockesonne
Statement of Financial AetivitÈs
28
Balance Sheet
29
Notes to the Financial Slalements
30
Lane Educational Foundation
Statement of Financial Activities
31
Balance Sheet
Notes to the Financial Slalemenls
33

COVENTRY CHURCH {MUNICIPALI CHARITIES AND OTHERS
REGISTERED SOCIAL HOUSING PROVIDER INFORMATION
REGISTERED NUM8ERS:
Charity Commissioners 228486
Regulator of Social Housing - Homes England A0581
TRUSTEES:
Two appointed by the Council ofthe City of Coventy
Pursuant lo Clause 27
Mr J Clifford
Mr D Kershaw CBE
One appointed by the Trustees of Bond's Hospital Estate Charity
Pursuant lo Clause 27
MsSCForte
Seven Co-oplalwe Trustees pursuant lo Clause 28
Mrs V E Rigby Ichairl
Mr M Harban (Vice Chairl Idled W July 20241
Dr R M Spokes
MrRBKDyollDL
Mr N Williams
Mrs E Cook lappointett 6th June 20241
Dr W Walson lappoinled 6th June 20241
Mr M Trevelyan lappoinle¢J 5th June 20251
Honorary Trustees
Mrv W Keene M8E (from 61n June 2024)
CHIEF EXECUTIVE AND CLERK:
Mr M F H Vvhite MRICS FAAV
REGISTERED OFFICE:
Bond's Hospital
Hill Street
Coventry
CVI 4AX
AUDITORS:
Dafferns Audit Limited
Chartefed Accountants
One Eastwood
Harry Weston Road
Binley Business Park
Coventry
CV3 2UB
SOLICITORS:
Rolherham & Co Limited
8 - 9 The Quadrant
Coventry
CV12EG
BANKERS:
Lloyds Bank plc
30 High Street
Coventry
CV1 5RE

COVENTRY CHURCH (MUNICIPALI CHARITIES AND OTHERS
TRUSTEES. REPORT
for the year ended 31 March 2025
The board of Coventry Church Imunicipall Charities present their report and the audited Financial Statements
for the year ended 31 March 2025.
CONSTITUTION
Consliluled under a Scheme made by the Charity Commissioners dated 18th September 2006.
The Coventry Church (Municipall Charities consi51s of..
Bond's and Ford's Hospital
City Charty of John Cockesonne (which includes the Samuel Edwards Charity and the
Foleshill Aid In Sickness Fund).
Lane Educational Foundation Charity
bl
The accounts of the John Co¢kesonne and Lane Education81 Foundation Charities a￿ appended to the
Hospital Charity accounts
ADMINISTRATIVE DETAILS AND POLICIES
Structure, governance and management
The Charity was established out of a Scheme of 1924, drawing together a number of other Chanties in the
City of Coventry. It is conslituled as an unincorporated asso¢iabon being governed by a Scheme of the
Charity Commissioners dated 18th September 2006.
The administration of the Charity is vested in seven co-opted Trustees, three Trustees nominated by the City
of Coventry and two represenlalive Trustees from Bond's Hospital Estate Charity The co-opted Trustees are
chosen by the existing Trustees being people considered lo have a particular interest in the work of the
Charity or knowledge or experience likely lo assist in its proper administration. No Trustee re￿iVeS any
remuneration.
On appointment, new Trustees receive sufficient background information to enable them lo understand the
financial position of the Charity and ils current work in hand Thereafter new Tnjslees are given an
inspection of the Almshouses and 8n opportunity lo meet 51aff and, where possib￿, lo become increasingly
involved in the management and social activities of the Almshouse5.
The current CEO and Clerk is a member of the Royal Inslilulion of Chartered Surveyors and is able lo advise
the Trustees on a number of propety related issues. The Charity also has a long-standing arrangement with
Rotherham & Co Limited, a local fimi of solicitors who have acted for the Charity for several decades. Vvhen
appropriate, professional advisors will attend the Trustees Meetings which are held normally al quarterly
intervals, and should recommendations be made. the Trustees will give all matters due consideration.
Between meetings, decisions are primarily tsken by the Chairman with routine decisions concerning building
maintenance, etc., and the running of the Almshouses being delegated lo the CEO.
Objectlves and actlvltles
The primary objective of Coventry Church (Municipall Charities is the provision of housing accommodation
for F)oor persons of good ch8r8cler, resident al the lime of their appointment in the City of Coventry. The
Trustees aim to provide residents with a secure and well-maintained home, in a happy environment. for as
long as possible.
The Trustees believe that in order to achieve this aim. residents will increasingly require, as they gel older, a
greater level of support and assistsnce, and in order lo provide this. il is necessary for the Charity to engage
additional Scherne Manager5 over and above what would be expected on a purely commercial basis. The
Trustees believe that this greater level of support is entirely in accordance with the Charitable aspirations of
the founder5 and benefactors of the Charity.
th regard lo the City Charity ol John Cockesonne. the object of the Charity is the relief of persons resident
in the City of Coventy who are in need, harolship or distress. This may be provided by the granting of mney
or the provisions of goods, services or facilits"es, either directly lo those persons Of bodies who provide such
facilities for those in need.

COVENTRY CHURCH IMUNICIPALI CHARITIES AND OTHERS
TRUSTEES, REPORT
lor the year ended 31 March 2025
Objectives and activities Icontinuedl
The Lane Educational Foundation, slates its object, is to promote the education of persons who are in need
of financial assistance, are attending or have attended a Coventry School and are resident within the City of
Coventry.
The Trustees confirm that they have referred lo the Charity Commission's guidance on public benefit. when
reviewing the Charity's aims and objectives, in planning future activities and setting the grant making policy.
Grants are made for Relief in Need for people living in the City of Coventry, as sel out above. The Trustees
believe that they should look lo try and increase the grants awarded for those individuals or organisalions,
who qualify for Relief of Need.
In general. the Trustees eonsider that making grants to local partners and organisation5, Is an effective
means of delwering aid more widely aeross the community. In eX￿pIlon3l c1rcumstsn￿$, grants are made
to Individuals, where the application is endorsed by a sponsonng body.
Achievements and perfomiance
At the start of the financial year the Charity was experiencing high levels of occupancy in ils flats and there
were very few voids From November 2024 through lo the financial year end this changed dramatically in a
very short period of time. Within those few months we had a number of residents sadly pass away and an
equal number move out due to not being able lo live independently
This resulted In a reduction of weekly maintenance contributions and an increase in voids which resulted in a
loss of ￿ncoMe from £16.758 in 2024 10 £39.843 in 2025. This Coupled with the need lo refurbish flats
resulted in an increase in the cyclical maintenance costs and a reduction in the projected surplus.
This situation has continued into the new financi81 year and whilst the Charity have filled 15 flats there are
still severa5 unoccupied and wailing lor refurbishment.
The Charity had a healthy wailing list for those who mel the criteria to become a beneficiary but that has
become depleted and further advertising will now lake place.
Due lo the construction of Bond's Lodge and the purchase of Penny Black House the Charity has a loans
with The Charity Bank lolalling £4, 194,293 of which 67¢/o 15 at a variable rate and 33% on a fixed rale of
interest for a further two years
At the start of the year the variable rale was charged at 70A interest and with the Bank of England base rate
reductions to 6.50/0 in March 2025. Further rate reductions are anlicipaled and this will help reduce the cost
of borrowing.
In December 2024 the Charity received the sum of £362,715 from Bond's Hospital Estate Charity which was
an increase of £25,000 from the previous year. This sum represents the annual surplus income derived from
the investments held by the Estste Charity and the Trustees of Coventry Church (Municipall Charity are
most grateful lo the Feoffees for their hard work and diligence throughout the year which enabled the
distribution lo be made lo this Charity. That income is not spent on day to day expenditure items and the
Trustees are in agreement that this distribution be Spent on capital projects andlor a reduction in The Charity
Bank loans. This year the money was spent on the purchase of iwo properties on Hill Street and the
mainder invested within the CCLA.
Last year we reported that we were in discussions with an agent who was selling the freehold of Nvo
commercial propertie5 in Hill Street namely 3840 and 42-44 We are pleased lo report that we were
successful in our bid and completed on both of those properties simultaneously on the 9lh January 2025. 11
has been an aspiration of the Trustees to be able lo offer accommodation lo the younger generation who
struggle with the private rental sector. The proposal is lo obtain planning permission lo convert these
properties back lo four terraced cottages which would then be offered as Almshouses al a sociallaffordable
rent. Al the time of writing a planning application has been submitted and the decision is currently awaited
from the Conservation Officer and Coventry City Council planning department. If consent is granted the
Charity will apply to Homes England for a grant and hope to commence Conversion work in 2026.

COVENTRY CHURCH {MUNICIPALI CHARITIES AND OTHERS
TRUSTEES, REPORT
forthe year end¢d 31 March 2025
Achievements and performance Icontinuedl
The Charity have also looked into increasing their Almshouse numbers by offering a property that wa5
previously let on an Assured Shorthold Tenancy lo a family that were in great need and met oijr criteria as
sel out in our Charitable Objects. This was completed in November last year and hence our numbers have
increased from 118 10 119 properties. The Trustees agreed al their March 2025 meeting lo do the same with
another propety that had become vacant in Hi15 Street.
During the year the Charity employed a full lime Handyman in addition lo the part lime position that already
existed. 11 was found that the day-lo-day maintenance and general tasks could not be completed in 20 hours
per week. This arrangement has worked well and is greatly appreciated by the residents. The Charity
currenuy have a Senior Scheme Manager. three full lime and one part lime Scheme Managers which also
ensures that the well being of our residents are well catered for and there is sufficient cover for staff illnesses
and holidays.
The new Tunslall careline system became 0￿rational in June 2024 and this digital system is a vast
improvement over the old system which had been installed for over 20 years. This has been most welcome
by the staff and residents in equal measures.
The conversion to the Charitable Incorporated Organisalion is still a major issue and has not been
completed. Delays from the Charity Commission and the Land Registry have been the major stumbling
blocks for this to be completed. Complications with Section 105 Orders. land not being registered and land
held under different ownership have not helped and this matter is still Conside￿d extremely urgent by the
Trustees lo be completed as soon as possible.
The "Relief of Need" provisions of the Charity's scheme continued lo play an important part of the Trustees
work and grants lotalling £13.173 were made during the year. The Trustees look the decision to review ils
budget, and the main fund provided with a lolal of £15,000. The Trustees are able to spend the income
derived from the investments held by the John Cockesonne Charity and the Lane Educational Foundation.
Regulatory Metri¢s
RSH Value for Money Metrlcs IVFMI
2024 12025
2023 12024
VFM Sector Metrics
Benchmark
4.40
0.3Q
0.09,
34.10
Reinvestment O/.
New Su
Social Housin
Units
New Su
Non-social Housin
Gearin
EBITDA MRI Interest Cover.
Social Housin
Cost
er Unil£
efatin
Mar
Social Housin
eratin
Mar
Over811
Return on Ca
itsl Em
2.4Qlo
08¥.
0.00
26.3¥0
0.0%
OOYO
0.00
26.7VD
262.3¥0
£6,859
19.9¥0
489/0
35¥0
£7.651
£5,768
47.7,
3.5%
15.3Q
23%
ROCE
Source of benchmerk." R8gu18tor of Sousl Housing- Value for money mefvcs 8nd rnptrrting- Fin8nc181 y88r Èo Math 2Q24. issued
March 2025. 5ub-sectormetrics Irom the sm811est Category ofwivthrs. being those wrth < 2.500 s{Jp￿rted tsnjts
Relnvestment %
The reinvestment metric looks al the investment in the Charity's properties as a percentage of the total book
value of the properties held. The Charity spends significant resources maintaining the standard of its
properties as can be seen in note 3, however, this metric considers resources spent on the acquisition or
development of new properties. or the enhancement of existing properties. The reinvestment in the current
year is reflective of the acquisition of 3840 and 42-44 Hill Street.
New supply (social housing unitsl°A
The new supply metric is an indicator of the level of new social housing units that have been acquired or
developed In the Financial year as a proportion of the total owned and managed units. In the 2021 financial
year, the Charity much exceeded the sector benchrnark as a result of the Bonds Lodge housing
development which practically completed in September 2020, adding 45 flats lo the number of managed
units which are available for beneficiary residen15. The small increase seen in 2025 is due to a propety
transferring from an ASsu￿d Shorthold Tenancy to an Alrnshouse. as reported above.

COVENTRY CHURCH {MUNICIPALI CHARITIES AND OTHERS
TRUSTEES. REPORT
forthe yearended 31 March 2025
Regulatory metrics Icontinuedl
New supply (non-social housing units) °
The Charity does not manage any non-social housing units. with all the units available being used in the
furtherance of the Charity's objectives. However, last year in January 2024, the Charity secured the
purchase of Penny Black House. This property continues lo be leased lo CovRenlal Ltd who sublet the
propety as students, letlings. This propety is reflected in the financial statements as an investment
propety, bul the Charity will be looking lo convert the premises in the future.
The gearing metric addresses how much of the Charity's adjusted assets are made up of debt and the
degree of dependence on debt financing. The metric highlights that the Charity falls below the sector
average and has continued lo f811 on the prior year as the Chanty has mel all scheduled repayments on ils
108n arrangements in line with the terms of the agreements
EBITDA MRI interest covei '
This particular interest cover metric is a key Indicator of the Charity's liquidity and investment capacity, by
looking at the level of surplus generated, compared lo the level of interest payable. Similarly, lo the above
gear1ng ratio, the Charity Is exceeding the sector average, bul the level of cover has worsened against the
previous year. The level of 0￿ cover has declined despite rale drops In the Bank of England base rate, due lo
the additional £900,000 loan taken out part way through last year lo help fund the purchase of the Penny
Black House.
Social housing cost per unit £
This metric simply summarises the headline social housing costs incurred by the Charity, on a per unit basis.
The average cost per managed unit has further increased. primarily due to the higher costs of property
maintenance as reported above.
Operatlng margln Isoclal houslngl %
The operating margin represents the operating surplus from social housing lettings divided by the turnover
from social housing lellings. This metric has slightly worsened against the previous year. but remains
reasonably consistent with the sector average, and is reflective of the point referred lo in the metric above
coupled with the increased level of voids In 2025.
Oper•ting margin (overall) 'A
The overall operating margin represents the overall operating surplus of the Charity divided by the lolal
turnover of the Charity. As the Charity does not own or manage any non-social housing uni15, the turnover In
calculats'ng this metric is consislenl with the above. However, the overall operating surplus IncSudes non-
housing activity income which typically includes high levels of donation Income lrnost principally) from
Bond's Hospital Eslale Charity. As above, donation income received from the Estate Charity totalled
£362,715 compared lo £337.386 in the previous year.
Retum on capital employed O
rhe ROCE compares the operating surplus to total assets. le$5 the current liabilities of the Charity, and Is a
common measure used in assessing efficient investment of capital resources. The Chanty 15 operating
above the sector average and has remained steady across the last two financial years.
Financial review
The Charity rnaintains an Extraordinary Repair Fund which is held for more major, unexpected or long-lerm
item5 of repair or improvement The Charity Is aware that work will be required shortly lo part of the roof on
the Old Wing of Bond's Hospital and some replacement stone and limber work al Ford's Hospital will be
undertaken in 2026 when finances permit. The Tru51ees believe by operating its Extraordinary Repair Fund
they ensure the Charity'5 properties are well maintained, and improvements can continue on an annual
basi5.
Investment policy
The Charity currently hold circa £110,000 in funds managed by the CCLA together with the CCLA.
COIF Dep051t Fund.
Reserves policy
In recent year5, the free reserves of the Charity have fluclualed but generally have been running al a very
low level and the Trustees will look lo re-build these funds in the forthcoming years. The free reserves as al
31 March 2025 were £284.68512024. £46,227).

COVENTRY CHURCH (MUNICIPALI CHARITIES AND OTHERS
TRUSTEES. REPORT
forthe year ended 31 March 2025
Plans for future periods
The CEO has prepared a list of major expenditure items, and these have been considered by the Trustees
and funds allocated and works prioritised on a need's basis. The Charity have worked on a 5 Year Plan and
once formally adopted will assist the budgeting for the short lo medium term.
Having acquired The Penny Black House the Charity will look lo prepare detailed plans for its conversion or
rebuild within the next 3-5 year5
Assessment of compliance with the governance and financial vlabillty standard
The Charity has complied with the Governance and financial viability code of practice and have adopted the
Almshouse Association code ol governance The Charity continues lo review its eonlocls with the utility
providers on a regular basis and will continue lo pay as many accounts as possible by Direct Debit. thereby
benefitting from the discounts available. On major conlracls. quolalions are sought lo ensure competibve
rates for Works are achieved.
With the benefit of income from Bond's Hospital Estate this Charity is able lo subsidise the healing charges
levied on all the residents. The Trustees appreciate that some buiklings are beller insulated than others an
they endeavour not lo penalise the resident for living in those parts of the building that are less well
insulated.
The Charity has spent money fitting Ihefmostalic valves lo radiators and is in the process of changing a
number ol the lights to LED and also lo pul some of the corridor lights on timers and motion activated
sensors. All of these measures are aimed al reducing energy consumption and thereby reducing the day lo
day running costs Whe￿Ver possible.
The Trustees strive to ensure that the propertles are well maintained but not in a frivolous manner and the
CEO meets weekly with the Chairman and with the Scheme Nnanagers lo ensure the smooth running of the
Almshouses.
Going concern
The Trustees have considered the funding requirements of the Charity, and although cashflow will be light
as described above. the Trustees believe that the resources available to them are sufficient for the
continuing activities of the Charity for at least 12 months from the dale of this report. As a result of this
assessment, the going concern assumpb'on continues lo be adopted in the preparation of these financial
slatemenls.

COVENTRY CHURCH IMUNICIPALI CHARITIES AND OTHERS
TRUSTEES. REPORT
for the year ended 31 March 2025
Trustees, responsibllities in relation to the financial statements
Law applicable Charities in England and Wales, requires the Trustees lo prepare financial slalements for
each financial year, which give a true and fair view of the Charity's financial activities during the year and of
ils financial position at the end of the year.
In prepanng financial statements giving a true and fair view, the Trustees folSow best practice and..
select suitable accounting policies and apply them consistently.,
make judgements and eslimales that are reasonable and prudent.,
slate whether applicable accounting standards and slalemenls of recommended practice have been
followed. subject to any departures disclosed and explained in the financial slalements..
Prepare the financial slalements on the going Concern basis, unless it is inappropriate lo presume
that the Charity will continue in operation.
The Trustees are responsible for keeping accounting records. which disclose the reasonable accuracy, the
financial position of the Charity and which enable them lo ascertain the financial position of the Charity and
which enable them lo ensure that the financial slalemenls, comply with applicable law and the trust deed.
They are responsible for safeguarding the assets of the Chanty and hence for taking reasonable steps for
the prevention and detection of fraud and other irregularities.
On behalf of the Trustees
V.E. Rigby - Chair
Dated.. 4UI September 2025

COVENTRY CHURCH IMUNICIPALI CHARrriES AND OTHERS
REPORT OF THE INDEPENDENT AUDITORS TO THE TRUSTEES
OF COVENTRY CHURCH IMUNICIPALI CHARITIES AND OTHERS
OplnSon
We have audited the financial statements of Coventry Church (Municipall Charities for the year ended 31 March
2025, which comprise the Statement of Financial Aclivilies. the Balance Sheet and notes lo the financial
statements, including a summary ol significant accounting policies. The financial ￿porting framework that has
been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial
Reporting Slandard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United
Kingdom Generally Accepted Accounting Practice)
In our opinion the financial slalemenls..
give a true and fair view of the slate of the chanty's affairs as al 31 March 2025 and of its incoming
resources and application of resources, for the year then ended..
have been properfy prepared in a¢cgrdan¢e with United Kingdom Generally Accepted Accounting
Practice., and
have been prepared in accordance with the requirements of the Charities Act 2011, the Housing and
Regeneration Act 2008 and the Accounting Direth'on for private registered providers of Social housing in
England 2022.
Basls for oplnlon
We conducted our audit in accordance with Inlern81ional Standard5 on Auditing IUKI (ISA5 IUKII and applicable
law Our responsibilities under those standards are further described in the Auditor'5 respon5ibililies for the audit
of the financial statements section of our ￿pOrt. We are Independent of the charity In aecordance with the ethical
requirements that are relevant lo our audit of the financial slalements in the UK, including the FRC'S Ethical
Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We
believe that the audit eVIde￿e we have obtained is sufficient and appropriate lo provide a basis for our opinion.
Concluslons rolatlng to golng Concern
In auditing the finanaal stalemenls, we have concluded that the board's use of the going concern basis of
accounting in the preparatlon of the financial statements is appropriate.
Based on the work we have perfomed, we have not identified any material uncertainties relab'ng to events or
conditions that. individually or collectively, may cast significant doubl on the a5socialion's ability lo continue as
going concem for a period of al least twelve months from when the finaneial ststemenls are aulhorised for issue.
Our responsibilities and the ￿Spc)n$￿bl1l1ieS of the board with ￿SpeCt lo going concern are described in the
relevant sections of this report.
Other infomiation
The Other information comprises the informats'on induded in the trustees, annual report, other than the financial
slaternenls and our auditor's report thereon Our opinion on the financial statements dges not ￿Ver the other
information and, except lo the exlenl otherwise explicitly staled in our report, we do nol express any forrn of
assurance conclusion Ihereon.
Our ￿$￿nSIbility is to read the other information and, in doing so. consider whether the other infomiation is
malenally inconsislenl with the financial stalemenls, or our knowledge obtained in the audit or otherwise appears
to be materially misstated. If we identify such material inconsistencies or apparent material misslatemenls, we are
required to determine whether thore is a material misslalement in the financial sialemenls or a material
misstalemenl of the other information. If, based on the work we have performed. we conclude that there is a
material rnisstatement DI this other information, we are required lo report that fact.
We have nothing to report in this regard.
Mattars on which wè ar& rèquired to report by exception
We have nothing lo report in respect ol the following matters in ￿latiOn lo which the Charities (Accounts and
Reports) Regulations 2008 require us lo report lo you if. in our opinion".
the information given in the financial slalements Is incon&slenl In any material ￿SpeCt wth the Iruslees.
report.. or
sufficient accounting records have not been kept", or
the financial slalemenls are not In agreement with the aecounling records., or
we have not ￿ceIVed all the information and explanations we require for our audit.

COVENTRY CHURCH (MUNICIPALI CHARITIES AND OTHERS
REPORT OF THE INDEPENDENT AUDITORS TO THE TRUSTEES
OF COVENTRY CHURCH IMUNICIPALI CHARITIES AND OTHERS
In addition. we have nothing lo report in respect of the following matter where the Housing and Regeneration Act
2008 requires us lo report lo you il. in our opinion..
a satisfactory system of control over Iransa¢tions has not been maintained.
Responslbllltles of Trustees
As explainecl more fully In the Tiuslees, responsibilities slalemenl sel out on page 7, the Trustees are responsible
for the preparation of financial slalemenls and for being satisfied that they give a true and fair view, and for such
internal Gonlrol as the board determine is necessary lo enable the p￿paratIOn of financial stslemenls that are free
from material misstalemenl, whether due lo fraud or error.
In preparing the financial stalemenls, the Trustees are responsible for 8ssessing the charity's ability lo continue as
a going concern, disclosing. as applicable, matters related to going concern and using the going concem basis of
accounting unless the Truslees either intend to liquidate the charity or lo eease operations, or have no realistic
alternative but to do so.
Audltor's re$pon$lbilities for the audit of the financial statements
Our objectives are lo obtain reasonable assLJrance about whether the financial statements as a whole are free
from material misslalemenl. whether due lo fraud or grror, and to issue an auditor's report that includes our
opinion Reasonable assurance is a high level ol assurance. bul is not a guarantee that an audit conducted in
a¢¢ordance with ISAS IUKI will always detect a material misstatement when it exists Misstatements can arise
from fraud or error and are considered material il. individually Dr in the aggregate, they could reasonably be
expected lo influence the economic decisions of users taken on the basis of these financial stalemenls.
1r￿g￿larItIeS. including fraud, are instances of non-compliance with laws and regulations. We design procedures in
line with our responsibilities. outlined above, to detect material misstatemen15 in respect of irregularities, including
fraud The specific procedures for this engagement and the extent lo which these are capable of detethng
irregularities. including fraud is detailed below..
Enquiry of management, and those charged with govemance around actual and potential liligab.on and
claim5',
Enquiry of entity stsff in compliance functions to Identify any instances of non-compliance wth laws aTr#
regulations".
Reviewing minutes of meetings of those charged with goveman¢e',
Reviewing financial slalement disclosures and testing to supporting documentation lo assess compliance
with applicaole laws and regLJlalions'.
Performing audit WDrf( over the risk of management override of controls, including testing of journal
entries and other adjuslmenls for appropriateness. evaluating the business rationale of significant
transactions outside the normal course of business and reviewng accounting estimates lor bias.
Because of the inherent limitations of an audit, there is a risk that we will not delect all irregularities. includbng
those Seading to a material misslalement in the financial statements or non-cornpliance with regulation. This risk
increases the more that compliance with a law or regulalioll is removed from the events and transactions reflected
in the financial slalemenls, as we will be less likely lo become aware ol Instances of non-compliance The risk is
also greater regarding irregularities Dccumng due lo fraud rather than error, as fraud Involves Intentional
concealment. forgery, colluson, omission or misrepresenlalion.
A Further descripb'on of our re5ponsibililies for the audit of the finantial slalemenls is located on the Financial
Reporting Council's website al www.frc.or
.uklaudilorsres
nsibililies. This descnplion foms part of our audilorfs
report.
Use of our report
This report is made solely lo the charity's Trustees, as a body, in accordance with Part 4 of the Charities
IAccounts and Reports) Regulations 2008 and section 137 of the Housing and Regeneration Act 2008. Our audit
work has been undertaken so that we might state to the charity's Trustees those matters we are required lo slate
lo them in an auditor's report and for no other purpose. To the fullest extent permitted by law, we do not accept or
assume responsibility to anyone other than the charity and the charity's Trustees as a body, for our audit work, for
this report, or for the opinions wo have formed.
Dafferns Audit Limited
Chartered A¢couniants
Slalulory Auditors
One Eas￿00d
Harry Weston Road
8inley Business Park
Coventry
CV3 2UB
Dated." 4th September 2025

COVENTRY CHURCH IMUNICIPALI CHARITIES AND OTHERS
BOND'S AND FORD'S ALMSHOUSES
STATEMENT OF COMPREHENSIVE INCOME
(INCLUDING INCOME AND EXPENDITURE ACCOUNTI
for the year ended 31 March 2025
2025
2024
Notes
TURNOVER
1,271,312 1,219,131
C05t of Sale5
1910,5071 1809,3611
Gross Surp5us
Administrative expenditure
Other operating income
360,805
409.770
1219,2141 1219.8671
465.269
405,734
0￿ratIng Surplus
Income from fixed asset investments
606.860
595,637
Interest re￿1vable and similar income
4,407
21,914
{259,1561 1235,4591
Interest payable and similar expenses
{Losses} I gains on fair value movement of investments 14
11,9191
12,573
Surplus for the year bging
Comprghgnsivg Incomg for the year
24
350,192
394,665
There Is no dIfferer￿ tre￿een the reported Surplus for the year and historical cost surpluses or deficits.
The resuts relate wholly lo continuing activities.
The financial statements were aulhorised and approved by the Board of Trustees on 41h September 2025.
On behalf of the Trustees
V E Rigby
TRUSTEE
D. Kershaw
TRUSTEE
The notes on pages 14 10 27 form part of these financial statements
10

COVENTRY CHURCH {MUNICIPALI CHARITIES AND OTHERS
BOND'S AND FORD'S ALMSHOUSES
BALANCE SHEET
31 March 2025
2025
2024
Notes
FIXED ASSETS
Housing properties at valuation
Other fixed assets
Investment propety
Investments
16,053,472
20,000
1,309,645
108,970
15,663,994
20,000
1,309,645
110,889
12
13
14
17,492,087
17,104,528
CURRENT ASSETS
Debtors- falling due within one year
Debtors- falling due after rnore than one year
Cash al bank
16
16
58,227
34,475
48,285
61,064
36,347
204,416
140,987
301,827
CREDITORS.. Amoun15 falling due
within one year
1250,8921
1247,0501
NET CURRENT ASSETS
1109,9051
54,777
CREDITORS: Amounts falling due after
more than one year
18
15.716,3501
15.843,6651
TOTAL NET ASSETS
11,665,832
11,315,640
RESERVES
Reslricled
Revaluab"on reserve
Endowment Fund
Unreslricled
Designated reserves
Revenue reserve
23
23
3,000,000
4,650.348
3,000,000
4.650,348
22
24
3,730,799
284,685
3,619,065
46,227
TOTAL RESERVES
11,665,832
11,315.640
The financial statements We￿ aulhorised and approved by the Board of Trustees on 4th September 2025.
On behalf of the Trustees
V.E. Rigby TRUSTEE
(J
D. Ker
haw
TRUSTEE
The notes o
s 14 10 27 fomi part of these financial statements
11

COVENTRY CHURCH (MUNICIPALI CHARITIES AND OTHERS
BOND'S AND FORD'S ALMSHOUSES
STATEMENT OF CHANGES IN RESERVES
For the year ended 31 March 2025
Reslricled Revaluation Endowment Designated Revenue
Reserve
Reserve
Fun
Reserve
Reserve
Totsl
At 1 April 2023
3,000,000 4,650.348 2,797,674
472,953 10,920,975
Surplus for the year
(Total comprehensive income)
At 31 March 2024
821,391
1426,7261
394,665
3,000.000 4.650,348 3,619,065
46,227 11,315,640
Surplus for the year
(Total comprehenswe income)
Al 31 March 2025
111,734
238,458
350,192
3,000.000 4,650,348 3,730,799
284,685 11,665.832
The notes on pages 14 10 27 form part of these financial statements
12

COVENTRY CHURCH IMUNICIPALI CHARITIES AND OTHERS
BOND'S AND FORO'S ALMSHOUSES
STATEMENT OF CASHFLOWS
for the year ended 31 March 2025
2025
2024
Note
Cash flow from operating activitles
28
602,698
598,825
Cash flow from investing actlvitles
Payments to acquire fixed assets
Payments to acquire Investment property
Interest received
1389,4781
{1,309.6451
21,914
4,407
Net Cash flow from investing activities
1385,0711 11,287,731)
Cash flow from financing activities
New loan obtained
Repayment of long-lemi bans
Interest paid
900,000
1114.6021 1400,0241
1259,1561 1235,4591
Net Cash flow from financing activities
1373.7581
264.517
Net Increase In cash and cash equlvalents
11 ￿,131) 1424,389}
Cash and cash equivalents at 1 April 2024
204,416
628,805
Cash and ca$h equivalents at 31 March 2025
48,285
204,416
Cash and cash equlvalents conslst of:
Cash al bank and in hand
48,285
204.416
Cash and cash equlvalents at 31 March 2025
48,285
204,416
The notes on pages 14 10 27 form part of these financial statements
13

COVENTRY CHURCH IMUNICIPALI CHARITIES AND OTHERS
BOND'S ANO FORO'S ALMSHOUSES
NOTES TO THE FINANCIAL STATEMENTS
for the year ended 31 March 2025
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
The charity is registered under the Charits'es Act and is a Registered Social Housing Provider IRSHPI.
General information and basis of preparation
Coventry Church Imunicipall Charities, a registered Charity, is a private registered provider of social
housing in the United Kingdom. The address of the registered office is given in the informatr'on on
Page 1 of these financial slalements. The nature of the RSHP'S operations and principle aclivilies, are
the provision of housing accommodation for poor persons of good character resident, al their lime of
appointment in the City of Coventry.
The RSHP conslitules a public benefit entity as defined by FRS102.
The financial slalements have been prepared in accordance with applicable financial reporting
standards, Including Financial Reporting standard 102 The Financial Reporting Standard Applicable in
the UK and Ireland IFRS1021,' the Statement of Recommended Practice for Social Housing Provider5
120181 and with the Accounting Direction for private registered providers of social housing in England
2022. The financial statements are also prepared under the requirements of the Housing and
Regeneration Act 2008. The financial statements have been prepared on a going concern basis under
the historical cost convention, mo(Jified to include certain items al fair value.
The Charity has not followed component accounting as required by the Statement ol Recommended
Practice on the grounds that the expense and difficulty of obtaining the necessary information, would
be out of proportion to the benefit that might be achieved by adopting this. The replacement of
components such as kitchens and bathrooms, will continue lo be treated as repairs, rather than capital
disposals and additions.
The City Charity of John Cockesonne and Lane Educational Foundation have not been incorporated in
the financial statements on pages 10 10 13. Instead their accounts are attached on pages 28 10 33 and
are prepared using the Statement of Recommended Pracbce "Accounting and Reporting by Charities.
IFRS1021
The significant accounting policies applied in the preparation of the financial statements, are sel out
below. These policies have been consistently applied to 811 years presented unless otherwise stsled.
The financial sl8tementS are presented in Pound Sterling (£1, which is also the functional currency of
the Charity.
Turnover and other income
Turnover is measured al the fair value of the consideration. received or receivable nel of VAT and
trade discounts. The policies 8dopled for the recognition of turnover are as follows..
Turnover represents rental and service charges income receivable in the year. net of ￿nt and service
charge losses from voids," donations and room hire.
Donations ￿CeiVable from Bond's Hospital Estate Charity and other donations, are included in the
accounts on receipt.
Interest income Is recognised using the effective interest method and dividend income 15 recognised
as the RSHP'S right lo receive payment is established.
Govemrnent grants
Grants received In resped of housing properties are recognised a5 a liability and arnortised over the
useful life of the asset. This amortisation Is recognised within turnover.
14

COVENTRY CHURCH IMUNICIPALI CHARITIES AND OTHERS
BOND'S AND FORD'S ALMSHOUSES
NOTES TO THE FINANCIAL STATEMENTS
for tho year ended 31 March 2025
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES {continuedl
Flxed assets and depreclation
Houslng propertie$
Cost or deemed ¢osl, includes costs directly attributable to making the asset capable of operating as
intended, such as the Cost of acquiring land and buildings, developments costs, interest charges on
loans during the development period and expenditure on improvements. Expenditure on
improvements will only be capitalised, when Il results in inc￿mental future benefits. such as increasing
rentsl income, reducing maintenance costs or resulting in a significant extension of the useful
economic life of the property.
The long-lem leasehold properties namely Bond's Court and Bond's Lodge Amshouses are included
at deemed cost.
The freehold property being the extension to Bond's Hospital. together with the refurbishment of the
original flats, are Included al the cost of development lo date.
The Board has not accounted for depreciation on ils housing properties, because the depreciation
charge and accumulated depreciation are immaterial and there is a policy and practice of regular
maintenance and repair of the property.
The Bond's and Ford's Hospital Almshouses, are listed as being of historic and architectural
importance and are considered by the Trustees to be part of the histortc heritage of the Charity.
Accordingly, these are not included in the balan￿ sheet.
Other fixed assets
Freehold land is not depreciated and is included at deerned cost.
Investment properties
Investment properties are ￿cognISed initially al cost, plus directly attributable expenditure incurred.
Subsequently. they are measured al fair value through the Sialement of Comprehensive Income.
Properties rented out lo residents in the provision of supported hou51ng accommodation are not held
as investment properties.
Investment$
Investments are recognised initially al fair value, which is nomially transaction price excluding
transaction costs. Subsequently, they are measured al fair value through the Slalement of
Comprehensive Income.
Investments held for the long-terrn, are included in fixed assets. Investments, held as part of short-
term treasury management, are included in current assets.
FinaD¢io1 Instruments
Basic financial inslrumenis in debtors and creditors wilh no slated interest rate, and receivable or
payable within one year are recorded at transaction price. Any losses arising from impairment a
cognised in the Statement of Comprehensive Income in adminislralive expenses.
Other financial assets and liabilities, Such as loans, are measured initially al fair value, net of
transaction costs. and are measured subsequently al amortised wsl using the effective interest
method.
Impaimient
Assets not measured at fair value, are reviewed for any indication that the asset may be Impaired al
each balance sheet date.
If such indication exists, the recoverable arnounl is estimated and compared to the carrying amount.
Vthere the carrying amount exceeds its recoverable amount, an impairment loss is recognised in
expenditure through the Stslemenl of Comprehensive Income.

COVENTRY CHURCH IMUNICIPALI CHARITIES AND OTHERS
BOND'S AND FORD'S ALMSHOUSES
NOTES TO THE FINANCIAL STATEMENTS
forthe yearended 31 March 2025
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Icontinuedl
Re5tri¢ted l Endowment Reserves
Restricted l Endowment Teserves are those reserves. which are only expendable in accordance with
the wishes of the funder or regulatory body Restricted reserves. include funds raised in response to a
specific appeal. Endowment fund5 represent those assets, which must be held permanently,
principally land adj8cent lo Bonds H05Pital, Coventry Revenue and expenditure cannot be directly set
against Reslricled l Endowment reserves but is taken through the Statement of Comprehensive
Income and then a transfer to Restricted l Endowment reserves Is made as appropriate.
Designated Reserves
Designated reserves are part of unreslricled reserves, which have been earmarf(ed by the Board, for a
particular purpose. Such designations may be reversed by future Board decisions. Expenditure cannot
be directly set against Designated reserves bul is taken through the income and expenditure account.
A transfer is then made from Designated reserves as appropriate.
Details of the nature and purpose of each fund is set out in note 22.
Works to Existing Housing Propertles
Expenditure on housing properties, which results in an enhancement of economic benefits of the
asset, such as an increase in the nel rental St￿arn over the life of the propety. is capitalised.
Any works which do not result in an enhancement of economic benefits of a propety, are charged to
the income and expenditure account. This Includes expenditure Incurred, to ensure that the propety
can maintain Ils existing level of nel rental income or the standard of perFormance anlicipaled, when
the asset was first acquired or constructed or last replaced.
Value Added Tax
Irrecoverable VAT is charged against the category of expense, for which it was incurred.
Pensions
When employees have rendered service to the RSHP, short-term employee benefits, lo which the
employees are entitled, are recognised al the undiscounled amount expected lo be paid in exchange
for that service
The Charity operates a defined contribution 'money purchase, pension scheme for its employees. A
defined contribution plan is a pension scheme under which the Charity pays fixed contributions into an
Independently administered fund and has no further obligations once those contributions have been
paid. Contributions lo the scheme are restncted lo the contributions disclosed in note 26. There were
no outstanding contributions at the year end.
Judgements and key sources of estimation uncertainty
In the application of the Charity's accounting policies, the Trustees are required lo make judgements,
eslimales and assumptions about the carrying amount of assets and liabilities, that are not readily
apparent from other sources. The eslimales and associated assumptions are based on hislofical
experience and other factors that are considered to be relevant. Actual results may differ from these
eslimales.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting
eslimales, are recognised in the period in which the estimate is revised, Whe￿ the revision affects only
that period., or in the period of revision and future periods where both are affected.
16

COVENTRY CHURCH IMUNICIPALI CHARITIES AND OTHERS
BOND'S ANO FORD'S ALMSHOUSES
NOTES TO THE FINANCIAL STATEMENTS
forthe year ended 31 March 2025
TURNOVER. OPERATING COSTS AND OPERATING SURPLUS
2025
eralin
Costs
Cost of
Sales
note 3
Admin
Costs
Turnover
eralin
lusl
deficit
sur
Social Housing lettings..
Contributions.. 119 supported housing units 855,996
Service charges
334,620
Light and heal contributions
120.539
Less. voids
139.8431
1.271,312
910,507
164.609
196,196
Non-Housing acbvities..
Donations - Bond's Hospital Eslale Charity 362,715
Other sundry donations
595
363,310
66,350
5,217
30,392
Rental income
Room hire
Other incorne
465,269
54,605
410,664
Total
1,736,581
910,507
219.214
606,860
2024
eotin
costs
Cost of
Sales
note 3
Admin
Costs
Turnover
O eratin
sur
lusl
deficit
Social Housing lettings..
Contributions.. 118 supported housing units 791,469
Service charges
328,536
Light and heal contributions
115,884
Less.. voids
116,7581
1,219,131
809,361
167.098
242,672
Non-Housing activities.
Donations
Bond's Hospital Estate Charity 337,386
Other sundry donations
2,743
340,129
34,485
6.387
24,733
Rental income
Room hire
Other income
405,734
52,769
352,965
Total
1.624.865
809,361
219,867
595.637
17

COVENTRY CHURCH IMUNICIPALI CHARITIES AND OTHERS
BOND'S AND FORD'S ALMSHOUSES
NOTES TO THE FINANCIAL STATEMENTS
forthe year ended 31 March 2025
2025
2024
OPERATING COSTS
ALMSHOUSE COSTS
Primary costs of lettings
Management:
Scheme managers, salaries. national insurance, and pensions
Service charge costs".
Rent
Rates and water
Insurance
Light and heal
Laundry, cleaners, and cleaning materials
Telephone
Gardener and garden expenses
Other charyes..
Stsff training and expenses
Sundry exFenses
Central control and Careline
IT facilities
Planned Malntenance..
Cyclical maintenance
Extraordinary repairs
151.224
133.127
13,350
31.204
26,817
200.169
46.688
29,626
57,308
10,435
21,142
17,487
213,886
47,240
23,625
40,242
1,332
33,107
14,376
6,694
485
44,427
14,547
8,294
201,257
97,355
161.498
72,926
OPERATING EXPENDITURE ON SOCIAL HOUSING LETTINGS
910 507
809 361
ADMINISTRATIVE EXPENSES
Management:
Chief Executive and administrative staff salaries, national insurance.
and pen510ns
Other charges:
Legal and professional fees
Computer and office expenses
Bank charges
Pension adminislralion
142,926
139,453
13,325
5,532
2.463
363
12.255
7.506
7,488
396
ADMINISTRATIVE EXPENDITURE ON SOCIAL HOUSING LETTINGS
164 609
167 098
NON-HOUSING ADMINISTRATIVE EXPENSES
Governance cost$
Chief Executive
Audit
Accountan
Subscriptions
28,527
4,500
4,740
3.665
28,011
4,350
4,830
2,425
41432
other expenditure:
Grants (see note 61
13,173
13,1S3
TOTAL NON-HOUSING ADMINISTRATIVE EXPENSES
54 605
52 769
TOTAL OPERATING COSTS
1,129,721
1,029,228
Swial Housing expenditure relates solely to supported housing for older Feople.
18

COVENTRY CHURCH IMUNICIPALI CHARITIES AND OTHERS
80ND'S AND FORD'S ALMSHOUSES
NOTES TO THE FINANCIAL STATEMENTS
forthe year ended 31 Mar¢h 2025
INTEREST RECEIVA8LE AND SIMILAR INCOME
2025
20
Bank interest
4,407
21,914
4,407
21,914
INTEREST PAYABLE AND SIMILAR EXPENSES
2025
2024
Loan interest
259,156
235,459
259,156
235,459
GRANTS
2025
2024
Grants to institutions
Tiny Tim5
Coventry City Mission
Happy Days
TLC Foundation
Coventry Children's Bool Fund
Enterprise Club for the Disabled
Myton Hospice
The Lifeboat Fund
Teams4U
Children's Choir
National Association of Almshouses
Coventry Cyrenians
Coventry Haven
Mercia MS Therapy Centre
The Lighthouse Trust
Revitslise
1,000
1,000
1,000
1,000
2,000
1,000
300
200
702
60
1,OCXJ
1,000
500
112
2,000
1,500
1,000
1,000
700
8,262
8,812
Resldents, Welfare
4,911
4,341
Tot81
13,173
13,153
ALLOCATION OF SUPPORT COSTS AND OVERHEADS
75U/o of the Chief Executive and Clerf<'s salary is allocated lo the manageThnt of the
Amshouses and the ￿MainIng 250h is allocated lo G0Veman￿ of the Charity.
19

COVENTRY CHURCH (MUNICIPAL) CHARITIES AND OTHERS
80ND'S AND FORD'S ALMSHOUSES
NOTES TO THE FINANCIAL STATEMENTS
for the year ended 31 March 2025
AUDITORS REMUNERATION
202
2024
Fees payable (exclusive of VATI to the
auditor in relation to the period of account
for the audit of the annual accounts
4.500
4,350
Fees payable (exclusive of VATI lo the
auditor for other services In relation lo the
period of account.
6,365
7.405
STAFF COSTS
2025
24
Wages and salaries
Social security costs
Pension costs
329,430
27,C68
8,003
292.302
23,413
8,552
364,501
324,267
The average number of ernployees during the year, expressed in fvjll time equivalents, was..
Chief ExecutNe
Senior scheme manager
Scheme managers
Administrators
Other staff
10
The number of employees eaming over £60,000 per year (including benefits) was as follows".
2025
No.
2024
No.
£90,001- £100,000
The Chief Execulwe is considered lo be Key Management Personnel of the Charity and is a normal
member of the Charity's defined contribution pension scheme.
Total compensation for Key Management including pension contributions and employer's national
insurance emoluments was £114,10812024'. £112,046). Excluding pensions conlribulions, emoluments
lolalled £111.14512024. £108,198)
10. TRUSTEES REMUNERATION AND EXPENSES
As slated in the Trustees report. no Trustee re￿iVed any remuneration or reimbursement of expenses
from the Charity during the year12024.' £nill
20

cOVE￿rRy CHURCH {MUNICIPALI CHARITIES AND OTHERS
BOND'S AND FORD'S ALMSHOUSES
NOTES TO THE FINANCIAL STATEMENTS
forthe year ended 31 March 2025
11. FIXED ASSETS- HOUSING PROPERTIES
Land situated In the City of Govenlry with the buildings Ihereon known as Ford's Hospital and the
Evenlide Homes subject as to 1107 sq. yards, or thereabouts to a lease lo Evenlide Homes Ltd. for the
term 0199 years, from 21 May 1969. al the yearly rent of one peppercorn created and reserved by
lease dated 21 April 1970.
Land with the buildings thereon known as Bond's Hospital.
The buildings known as Bonds. and Fofds, Hospitals are Listed as being of historic and a￿ hileclural
importance. Because of the age and uniqueness of these buildings, reliable cost information is not
available and conventional valuation approaches lack suff1cienl reliability. These assets are therefore not
valued in the balance sheet.
Bond's H05pilal Almshouse was built in 15C6 and restored in 1832 and provides 42 fla15 for
accommodation by the elderfy after refurbishment and extension in 2004
Ford's Hospital Almshouse was built in 1509 and was restored after a direct hit during a wartime air raid.
Ford's Hospital Fxovides accommodation for the elderly in 5 flats.
Both Almshouses are of Covenlry's oldest buildings.
Land and Buildings
Long term
Leasehold
Pro
erties
Freehold
Pro
Totsl
Cost or valuation 1 April 2024
Additions
11,033,646 4,630,348 15,663.994
389.478
389.478
Cost or valuation 31 March 2025
11.033.646 5,019.826 16.053.472
Net B(￿k Value 31 March 2024
11,033,646 4,630,348 15.663,994
Net Book Value 31 March 2025
11,033,646 5,019,826 16,053,472
The long-term leasehold properties are".
i) £3,000,OaO land and buikdings known as 8ond's Court. The historical cost is £195.257. This Almshouse
provides 26 flats for accommodation for the eldedy.
ii1£8.033,646 land and buildings known as Bond's Lodge. Construelion was completed in 2020. This
propety provides 45 flats for xcommodalion for the elderfy.
The long-term leasehold propety called Bond's Court was revalued on 16 May 2005 by Messrs.
Godfrey-Paylon, Chartered Surveyors, on an open market basis and on transib.on lo FRS102 in 2015.
was taken as the deerned cost
The freehold propety includes the land adjacent to Bond's Hospital and costs of development to dale.
Part of this site has been leased lo Midland Heart Limited, on a 125 year lease al a peppercom rent from
27 March 2001.
21

COVENTRY CHURCH {MUNICIPALI CHARITIES AND OTHERS
BOND'S AND FORD'S ALMSHOUSES
NOTES TO THE FINANCIAL STATEMENTS
forthe year ended 31 March 2025
12. OTHER FIXED ASSETS
Land situated in Coventry adjoining the side of Ford's Hospital, upon which fomierly stood the buildings
known as 22, 23 and 1 In Court 5 Greyfriars Lane, Coventry.
Land
Freehold
Land
Deemed cost at 1 April 2024 and 31 March 2025 I￿1 on a ttppercorn rent to Evenlide Homes) 20,000
The land was revalued on 16 May 2005 by Messrs. Godfrey-Paylon. Chartered Surveyors. on an open
market basis and on transition lo FRS102 in 2015, was taken as the deemed cost.
13
INVESTMENT PROPERTY
Investment
Pro
Market value at 1 April 2024
1,309.645
Market value at 31 March 2025
1,309,645
The property known as Penny Black House was acquired in January 2024 for £1,309,645. The purehase
C051 is conSide￿d reflective of the fair value of the propety at 31 March 2025
14. INVESTMENTS
Quoted
Investments
Market value al 1 April 2024
110.889
Investment gains I Ilossesl
{1.919}
Market value al 31 March 2025
108,970
InvestnEnts al market value comprise..
202
2024
COIF Charities Investment Fund
COIF Charities Ethical Investment Fund
54,426
54.544
55.529
55,360
108,970
110.889
22

COVENTRY CHURCH IMUNICIPALI CHARITIES AND OTHERS
BOND'S AND FORD'S ALMSHOUSES
NOTES TO THE FINANCIAL STATEMENTS
forthe year ended 31 March 2025
15. ACCOMMODATION OWNED AND IN MANAGEMENT
2025
2024
No. flats
No. flats
Social Housing".
Housing for older people- affordable rent
Ford's Hospital
Bond's Hospi121
Bond's Court
Bond's Lodge
Bond's Street
42
26
45
42
26
45
Total owned and managed
119
118
16. DEBTORS
2025
2024
Social housing rent arrears
Prepayments and other debtors
37.361
55,341
30,281
67,130
92,702
97,411
Debtors falling due within one year
Debtors falling due after more than one year
58,227
34,475
61,064
36.347
92,702
97,411
17. CREDITORS.. Amounts falling due wlhin one year
2025
2024
Royal Bank of Scoland Loan (capital only)
Charity Bank Loans Icapilal only)
Accruals and other creditors
1,051
124,470
125,371
947
111.861
134.242
250,892
247,050
18. CREOITORS.. Amounts falling due after more
than one year
Royal Bank of Scotland Loan (capital only)
Charity Bank Loans (capital onlyl
Deferred capital grant- Homes England
2025
2024
71,527
4,069.823
1,575.000
72,580
4,196,085
1,575,000
5,716,350
5,843,665
23

COVENTRY CHURCH {MUNICIPAL) CHARITIES AND OTHERS
BOND'S AND FORD'S ALMSHOUSES
NOTES TO THE FINANCIAL STATEMENTS
for the yearended 31 March 2025
19 LOANS
An analysis of the maturity of loans Is given below..
2025
2024
Amounts falling due within one year or on demand..
Royal Bank of Scotland Loan
Charity Bank Loans
1,051
124,470
947
111,861
Amounts falling due be￿een one and years..
Royal Bank of Scotland Loan
Charity Bank Loans
1,167
131,335
1,051
118,448
Amounts falling due beNveen and five years..
Royal Bank of Scotland Loan
Charty Bank Loans
4,332
438.755
3,902
398,628
Amounts falling due in more than five years..
Royal Bank of Scotland Loan
Charity Bank Loans
66,028
3,499.733
67.627
3,679,009
4,266,871
4.381,473
The Royal Bank of Scotland loan is repaYa￿e over a period of sixty years, from 1 November 1985, al a
rate of £8,826 per annum, induding interest. This loan is secU￿d on the long-term leasehold propety,
known as Bonds Court and the interest rale al 31 March 2025, was 10.75Vo. The aggregate secured
liabilities al 31 March 2025. were £72,57812024'. £73,5271
One of the Charty Bank loans is repayable over a period of 24 years, from 12 July 2020. This loan is
secured against the long-lerm leasehold propety, known as Bonds Lodge and the Interest rate al 31
March 2025, was 6.5Qkn on the variable part of the loan In March 2022. £1,500,000 of the loan was put
on a fixed rate of 365¥0 for 5 years. The aggregate secured liabilities at 31 March 2025. we
£3,319,56412024.' £3,412,751)
A second loan with Charity Bank was taken out in December 2023, which is repayable over 8 period of
21 years, from 12 De￿rnber 2023. Th1s loan is Secured against the long-lerm leasehold propety. known
as Bonds Lodge and the Interest rale 2131 March 2025, was 8.50/D. The aggregate secured liabilities at
31 March 2025, were £874,72912024. £895, 1951
20. DEFERRED GRANT INCOME
2025
2024
At 1 April 2024
1,575.000
1,575.000
At 31 March 2025
1,575,000
1.575.000
Amounts to be released within one year
Amounts to be released in more than one year
1,575,000
1,575.000
1,575,000
1,575,000
24

COVENTRY CHURCH IMUNICIPALI CHARITIES AND OTHERS
BOND'S AND FORD'S ALMSHOUSES
NOTES TO THE FINANCIAL STATEMENTS
forthe yearended 31 March 2025
21. LEASES
Total future minimum lease payments receivable under non-cancellable operating leases are as follows..
2025
2024
Not later than one year
Later than one and not later than five years
so,000
37,500
60,900
87,500
60,900
22. DESIGNATED RESERVES
The income funds of the Charity, include the following designated reserves, whch have been set aside
out of unrestricted funds by the Trustees for Specif￿ purposes
Penny
Black
Fund
Bond'$
Lodge
Fund
Extraordinary Cyclical
Repair
Maintenance
Fund
Fund
Total
Balance at 1 April 2024
(Losses) I gains on inveslrnents
Transfers in
Expenditure
414,450
3,045,895
148,771
11,9191
97,535
197.5351
11,949
3,619.065
11,9191
201,257
412,445
1201,2571 1298,7921
20,466
93.187
Balan￿ at 31 March 2025
434,916
3,139,082
144,852
11,949
3,730,799
Represented by".
Fixed Assets
Investments
Debtors
Creditors
Cash
1,309,645
8.033,646
9,343,291
108.970
108,970
{874,7291 14.894,5641
15,769.2931
47,831
35,882
11,949
434,916
3,139,082
144,852
11.949
3,730.799
The Extraordinary Repair and Cyclical Maintenance Funds are maintained out of the income of the
Charity, in accordance with Charity Commission schemes and the staled accounbng policy. Their
purpose is lo avoid widely fluclualing expenditure on maintenance, improvement and extraordinary
repairs from year lo year.
Cyclical maintenance fund expenditure lolalled £201,25712024.' £161,498).
Extraordinary repair fund expenditure totalled £97,53512024.' £72,926).
The Penny Black and Bond's LC￿ge Funds, have been established to reflect the amount of unreslncled
funds, represented by fixed assets owned by the Charity, less deferred capital grants and bank loans,
and as such, are nol'lree reseNes'.
25

COVENTRY CHURCH IMUNICIPALI CHARITIES AND OTHERS
BOND'S AND FORD'S ALMSHOUSES
NOTES TO THE FINANCIAL STATEMENTS
for the year ended 31 March 2025
23. RESTRICTED RESERVES
Revaluation
Reserve
Housing
Pro
erties
Endowment
Fund
Totsl
Balance al 1 April 2024
3,000,000
4,650,348
7,650,348
Balance at 31 March 2025
3,000,000
4,650.348
7,650,348
Represented by".
Fixed Assets
Investments
Debtors
Creditors
Cash
3,000,000
4,650,348
7,650,348
3,000,000
4,650,348
7.650,348
The Revalualion Reserve Housing Properties Fund was estsblished to reflect the amount of reserves
represented by the revaluation of fixed assets owned by the charity.
24. RESERVES
Restricted Designated Unreslr¢ted
Reserves
Reserves
Revenue
note 23
Inole 221
Total
Balan￿ at 1 April 2024
Surplus for the year
Transfers for the year
7,650,348 3.619.065
1300,7111
412,445
46.227 11,315,640
650,gQ3
350,192
1412,445}
Balance al 37 March 2025
7,650,348 3,730,799
284,685 11,665,832
25. RELATED PARTY TrANSACTIONS
One of the Trustees is also a Feoffee of Bonds HOs￿tal Eslale Charity. The Feoffees make annual
di51ributions lo the Charty. Total distributions in the 12 months to 31 March 2025, amounted to £362,715
12024 £337.3861
26. PENSIONS
The RSHP operates a defined contribution pension plan for its employees. The amount recognised as an
expense in the financial year, was £8.00212024. £8,552).
26

COVENTRY CHURCH {MUNICIPALI CHARITIES AND OTHERS
BOND'S AND FORO'S ALMSHOUSES
NOTES TO THE FINANCIAL STATEMENTS
for the year ended 31 Ma￿h 2025
27. OTHER COMMITMENTS
The lotsl amount contracted to but not provided in these financial statements is £nil12024.' £97,356)
28. CASH FLOW FROM OPERATING ACTIVITIES
2025
2024
Surplus for the period
350,192
394.665
Interest payable
Interest received
Losses I Igainsl on investments
Decrease in debtors
IDecreasel l increase in other creditors
259,156
14,4D71
1,919
4,709
18.8711
235,459
121.9141
{12,5731
848
2.340
Net cash flow from operating activities
602,698
598,825
AnatysTg of changes in net debt
2024
Cashflows
Non-cash
2025
Borrowings
4,381,473
1114,6021
4.266.871
Total liabili(ies
4,381,473
1114,6021
4,266,871
Cash at bank
1204,4161
156,131
148,2851
Total net debt
4.177,057
41.529
4.218.588
27

COVENTRY CHURCH IMUNICIPALI CHARITIES AND OTHERS
THE CITY CHARITY OF JOHN COCKESONNE
(Part 2 of the Scheme of 18 September 2006)
STATEMENT OF FINANCIAL ACTIVITIES
for the year ended 31 March 2025
Unrestricted Endowment
funds
funds
Tot31
2025
2024
Income
Investment income
Interest receivable
6.666
19
6.666
19
6.466
18
Total income
6,685
6,685
6,484
Expenditure
Charitable activities.
Distribution of cash lo certain
Trustees lo be used for relief purposes
450
450
450
Grants: Relief in need:
Mercia Therapy Centre
Coventry Children's Boot Fund
- Hope Coventry Good Neighbours
- Underground Lghts
Valley House
Mylon Hospice
The Light House Ichrislian Carel
- Carers Trust. Heart of England
Life Path Trust
- Amionico Consort
Feed the Hungry UK
- Kairos V
- Zoe's Place
1,000
500
1,000
1,CN)O
2,000
2,000
1,000
1.000
1.000
1.500
1.000
500
1.000
1.000
2.000
2.000
1,000
1.000
1.000
1,500
100
2.000
500
Totsl expenditure
12,450
12,450
3,050
(Losses} I gains on investments
12901
12901
12,210
Net lexpenditurel I Income
15,7651
12901
16,0551
15,644
Fund balances brought foThvard
at 1 April 2024
19,377
214,038
233,415
217,771
Fund balances carried forward
at 31 March 202S
13,612
213,748
227,360
233,415
28

COVENTRY CHURCH IMUNICIPALI CHARITIES AND OTHERS
THE CITY CHARITY OF JOHN COCKESONNE
(Part 2 of the Scheme of 18 September 2006)
BALANCE SHEET
31 March 2025
31 March
2025
31 March
2024
Notes
FIXED ASSET INVESTMENTS
213,748
214,038
CURRENT ASSETS
Cash al bank..
Business Instant Access Account
Treasurers account
1,689
11,923
1,670
17,707
13,612
19.377
CREDITORS." Amounts falling due
within one year
NET CURRENT ASSETS
13,612
19,377
NET ASSETS
227,360
233,415
FUNDS
Endowrnent
Unrestricted
213,748
13.612
214,038
19,377
227,360
233,415
Aulhorised and approved by the Board of Trustees on 4th September 2025.
On behalf of the Trustees
V.E. Rigby TRUSTEE
D. Kershaw
TRUSTEE
29

COVENTRY CHURCH {MUNICIPALI CHARITIES AND OTHERS
THE CITY CHARITY OF JOHN COCKESONNE
(Part 2 of the Scheme of 18 September 20061
NOTES TO THE FINANCIAL STATEMENTS
for the year ended 31 March 2025
FIXED ASSET INVESTMENTS
2025
2024
Market value 1 April 2024
214,038
201,828
Investment Ilossesl I gains
12901
12,210
Market value 31 March 2025
213,748
214,038
Investments at market value comprise".
Quoted
nvestmenls
Charishare Common Investment Fund
COIF Charities Investment Fund
116,327
97,421
213,748
ANALYSIS OF NET ASSETS BETWEEN FUNDS
Net current
assets
Investmen
Totsl
Endowment fund
Unrestricted fund
213,748
213,748
13,612
13,612
213,748
13,612
227.360
30

COVENTRY CHURCH IMUNICIPALI CHARITIES AND OTHERS
LANE EDUCATIONAL FOUNDATION
IPart 3 of the Scheme of 18 September 2006)
STATEMENT OF FINANCIAL ACTIVITIES
for the year ended 31 March 202S
Unrestricted Endowment
funds
funds
Total
2025
2024
Income
Investment income
2,345
2,345
2,256
Total income
2,345
2,345
2,256
Expenditure
Charitable aclivilies..
Grants: Educational purposes..
Coventry School Foundation
Shine a Light
1,000
1,000
1,000
1,000
750
Total expenditure
2,000
2,000
750
Gains on investments
2,697
2.697
1,916
Net income
345
2,697
3,042
3,422
Fund balances brought forward
at 1 April 2024
5,253
67.465
72,718
69,296
Fund balances carried forward
at 31 March 2025
5,598
70.162
75,760
72,718
31

COVENTRY CHURCH IMUNICIPALI CHARITIES AND OTHERS
LANE EDUCATIONAL FOUNDATION
(Part 3 of the Scheme of 18 Septernber 20061
BALANCE SHEET
31 March 2025
31 March
2025
31 March
2024
Notes
FIXED ASSET INVESTMENTS
70,162
67,465
CURRENT ASSETS
Cash 21 Lloyds Bank plc
5,598
5.253
5,598
5.253
CREDITORS. Arrounts falling due
within one year
NET CURRENT ASSETS
5,598
5,253
NET ASSETS
75,760
72,718
FUNDS
Endowment
Unreslncled
70,182
5,598
67,465
5,253
75,760
72,718
Aulhorised and approved by the Board of Trustees on 4th September 2025.
On behalf of the Trustees
V E Rigby TRUSTEE
D. Kershaw
TRUSTEE
32

COVENTRY CHURCH {MUNICIPALI CHARITIES AND OTHERS
LANE EDUCATIONAL FOUNDATION
(Part 3 ofthe Scheme of 18 September 20061
NOTES TO THE FINANCIAL STATEMENTS
for the year gnded 31 March 2025
FIXED ASSET INVESTMENTS
2025
2024
Charishare Common Investment Fund
Market value 1 April 2024
67,465
65.549
Investment gains
2.697
1,916
Market value 31 March 2025
70,162
67,465
ANALYSIS OF NET ASSETS BETWEEN FUNDS
Nel current
assets
Investments
Total
Endowment funds
Unrestricted funds
70,162
70,162
5,5g8
5.598
70,162
5.598
75,760
33