Charity registration number.. 228506 Bethany Homes, Camborne An llnincorporated charity. Annual Report and Unaudited, Independently Examined Accounts for the period ended 7 April 2025 Cornwall Community Accountancy Service The Elms, 61 Green Lane Redruth Cornwall TR15 ILS
Bethany Homes, Camborne Contents ReferenceandAdministrative Details.................................................. Trustees'Report............................................................................ 2 to4 IndependentExaminer'sreport........................................................... Statementoffinancial activities.......................................................... Balancesheet.............................................................................. Notestothe financial statements......................................................... 8 to 14
Bethany Homes, Camborne Reference and Administrative Details Charity name Charity registration number Bethany Homes, Cambome 228506 Registered in England & Wales Registered office Churchtown House 8 Churchtown Road Gwithian, HAYLE Cornwall TR27 5BX Trustees James Ball _ chair (appointed 19 February 2025) George Buhagiar (appointed 30 June 2025) Lavinia Thornas Buhagiar Dr Subanna Thomas (appointed l August 2024} Emily Thomas (rcsigncd 7 July 2024) Sarah V Kind (resigned 19 February 2025) Bankers CAF Bank Ltd 25 Kings Hill Avenue, Kings Hill, Wcst Malling. KENT ME19 4JQ Independent Examiner Debbie Risborough (FCCA) Cornwall Community Accountancy Scrvicc The Elin.8 61 Green Lane Redruth TR15 ILS Page I
Bethany Homes, Camborne Trustees, Report The trustees present their report and the financial statements for the period ended 7 April 2025 Objectives and activities ThrougThout the reporting, period the Trustees continued to deliver almshouse accomrnodation accordingJ to the Trust's articles- "to provide dwellinghouses for the residence of persons over the age of sixty, with connections to Cambome, who at discretion of the Trustees shall by reason of their straitened but secure f1nancial cir¢umslan¢¢s b¢ consid¢r¢d suitable p¢rsons as r¢sid¢nts" Emily Thomas offered her resignation in the summer of 2024 which was accepted with thanks for her time, financial expertise and generous support to the charity which she has given since 2010. Sarah Kind offered her resignation in February 2025 which was accepted with appreciation for her many years of exemplary service as trustee, which wa5 Strengthened by her local insight of the public sector in Cornwall and dedication to Bethany Homes Trust. The expertise which Emily and Sarah contributed was invaluable and it was wonderful having three of Captain Charles Thomas of Bolenowe's great-great-great granddaughters on the board for 14 years to continue the tradition of civic responsibility shown to Camborne by Six genetionS of the Thomas family. Dr Susanna Thomas. also gFreat-gsreat-great gryanddaugThter of Capt Charles Thomas and eldest daugThter of Professor Charles Thomas of Lowenac, was adopled as trustee in August 2024. Dr Thomas is an experienced museum director and academic who grew up in Cornwall and has strong connections to the local area. James Ball, Independent Councillor for Camborne Town Council and Mayor of Camborne joined as trnstee in February 2025 and Bethany Homes Trust is fortunate to have James on board. We welcome his local insight, connections and passion for Cambome. At our 9th October 2025 BoaTd Meeting. Lavinia Buhagiar stepped back as Chair and resumed position as an ordinary trustee, and James Ball became Chair. Principal activity Lettiiig of domestic prop¢rti¢s Achievements and performance In the first half of the year the Trustees continued wilh due diligence between the Trllsl and Coastline Housing as part of the process of handing Bethany Homes Trust to Coastline Housing as a sole coworate trustee, which had begun in early 2020. Delays in the process per515ted due to slow communication between Coastline Housing and Homes England, from which consent would have been required to transfer to Coastline Housing the reinainder of the mortgage taken by Bethany Homes Trust from Charity Bank in 2016 as part of match funding from Homes England, which was used for renovations on properties number 4 and 5, constrnction of 9 and works to windows and roofs on all properties. Page 2
Bethany Homes, Camborne Trustees, Report As of July 2024 confirmation of approval frorn Hornes England had Still not been received Following a board review and legal advice the trustees decided to quit the negotiations with Coastline Housing. There were a number of contributing factors to this decision including: the relocation of Lavinia Thomas Biihagiar back to the area; Iliat Coastline Housing was unable to inake any accominodation to the Trust's wish that incomingy occupants would have a connection to and interest in Camborne in line with the TnJ5t5' articles and in order to rebuild the sense of community at Bethany Homes; that Coastline Housing clarified that any renovation works on 3, 6, 7 and 8 would not be prioritised over the already long waiting list of outstanding works for whole portfolio of Coastlin¢ Housing properti¢s. The charity was approached by 'Golden Sands, a local propety management company who came through a personal recominendation and with a connection to another local charity. We engFagJed them to take over the substantial maintenance of the properties and estate. Part of their role was to oversee compliance and Works including updated EICR assessments, and subcontract building works including roofing Tepairs As at April 2025 8 of the 9 propertie5 were occupied, with number 3 remaining vacant and still unfit for occupation, pending Major works required to niake good after a couple of years of being empty. The Trustees are confident the charity is financially secure and able to meet annual outgoings, including loan repayments, in the foreseeable future Financial reeW Bethany Homes has a deficit for the year of £6,383 {2023 sury)lus of £8,581). The r¢s¢rv¢s carri¢d fonvard are £718,972 (2023 £725,354) of which revaluation reserve is £675,000 (2023 £675,000). Structure? governance and management Bethany Homes Trust was established in 1938 following the gift of land by the Thoma5 family, the creation of the Trust which is governed under a Conveyance and Trust Deed dated 31 December 1938, and the construction of eight (now nine) one bedroom bungalows. Risk management The trustees regularly review the risks to the Charity from both external factors and its operations. The trnstees consider that they have taken appropriate steps to reduce such risks. Page 3
Bethany Homes, Camborne Trustees, Report Trustee Responsibilities The Trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity and to enable them to ensure that the financial staternents comply with the Charities Act 201 I, the Companies Act 2006 and the applicable Stateinent of Recommended Practice. The Trustees are albo responsible for safeguarding the assets of the Lharity and hence taking reasonable steps for the prevention and detection of fraud and other irregularities. In so far as the trustees are aware: there is no relevant information of which the charitable company's independent examiner is unaware. and the trnstees have taken all steps that they ought to have taken as trustees to make themselves aware of any relevant inforniation and to establish that the independent eXlliner is aware of that inforn]ation. Approved by the Board on I st April 2026 and signed on its behalf by- James Ball Chair of Trustees Page 4
Bethany Homes, Camborne Independent Examiner's Report I report on the a¢¢ounts of th¢ company for th¢ period ended 7 April 2025 which ar¢ set out on pages 6 to 14. Respective responsibilities of trustees and examiner The trustees are responsible for the preparation of the accoiints in accordance with the requirements of the Charities Act 2011 ("the 201 l Act"). The trustees consider that an audit is not required for this year under section 144(2} of tlie 2011 Act and that an independent examination is needed. Having satisfied myself that the charity is not subject to audit undeT company law and is eligible for independent examination, it is my responsibility to- examine the accounts under section 145 of the 201 l Act. follow the procedures laid down in the General Directions given by the Charity Commission under section 145 (5) (b) of the 2011 Act; and state whether particlllsw matterq have come to my attention. Basis of independent examiner's report My examination was carried out in accordance wid] the General Directions given by the Charity c.ommission. An exdmindtion include5 d review of the dccoiinlin&J records kept by the charity dnd a comparison of the accounts presented with those records. Tt also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from you as trustees conceniing any such inatters. The procedures uiidertaken do not provide all the evidence that would be rLquir¢d in an audit and conscqucntly no opinion is given as to whLth¢r thc accounts present a 'true and fair view, and the report is limited to those matters set out in the statement below. Independent examiner's statement In connection with my exarnination, no matter has come to my attention- l ) which giv¢s m¢ reasonabl¢ ¢aus¢ to beli¢v¢ that in any inat¢rial r¢sp¢ct th¢ r¢quir¢m¢nts.' o to keep accounting records in accordance with section 130 of the 201 l Act. and o to prepare accounts which accord with the accounting records, comply with the methods and Principles of the Statement of Recommended Practice.. Accounting and Reporting by Charities have not b¢¢n m¢t' 2) or to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached. 17th April 2026 Debbie Risborough, Chartered Certified Accounts]nt Con)wall Community Accountancy Scrvicc The Elms, 61 Green Lane, Redruth, Cornwall TRI 5 1 LS Date.. Page 5
Bethany Homes, Camborne Statement of Financial ActivRtRes ror the period ended 7 April 2025 Unrestricted fllnds 2025 Total funds 2025 Prior year funds 2023 Income and endowments from: Charitable activities Investments Total 45,222 849 46,071 45,222 849 46,071 33,074 249 33,323 Expenditure on". Charitable activities 52,453 52,453 24,742 Total 52,453 52,453 24,742 et incomel(expenditure) before investment gainsl(losses) (6.382) (6.382) 8,581 Net incomel(expenditure) Other gains/(losses) Nel pnovement infunds Reconciliation offunds.. Total funds brought Tolalfunds carried forward (6,382) (6,382) 8,581 (6,382) (6,382) 8,581 725,354 725,354 716,773 718,972 718,972 725,354 The statement of f1nancial activities includes all gains and losses recognised in the period. All income and expenditure derive from continuing activities Page 6
Bethany Homes, Camborne Balance Sheet As at 7 April 2025 2025 2024 Note Fixed Assets Tangible Assets 825,000 825,000 825,000 825,000 Current Assets Debtors Cash at bank and in hand 10 898 19.549 20,447 32,032 32,032 Creditors: Amounts ralling due within one year {560) (756) Net current assets 19,887 31,276 Total assets Icss current liabilities 844,887 856,276 Creditors: Amounts falling due after more than one year 12 {125,915) (130,922) Net assets 718,972 725,354 The funds of the charity: Restricted funds 13 Unrcstrictcd funds Revaluation reserve Unrestricted income funds Total unrestrieted funds 13 675,000 43,972 675,000 50,354 718,972 725,354 Total charity funds 718,972 725,354 Approved by the Board on I st April 2026 and signed on its behalf by: Lavinia Thomas Buhagiar Trustee Page 7
Bethany Homes, Camborne Notes to the Accounts
1 Accounting policies
1.1 Basis of accounting
The accounts have been prepared under the historical cost convention and in accordance with: - Accounting and Reporting by Charities Statement of Recommended Practice, applicable to charities preparing their accounts in accordance with the Financial Reporting Standard, applicable in the UK and Republic of Ireland (FRS102) second edition - October 2019 (effective 1 January 2019);
-
the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102);
-
the Companies Act 2006 and
-
the Charities Act 2011.
The financial statements are prepared in sterling which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £.
The charity constitutes a public benefit entity as defined by FRS102
1.2 Change in basis of accounting or to previous accounts
The prior year accounts were prepared on a receipts and payments basis. As the charity has substantial property with a mortgage attached the trustees believe it is more appropriate to move to accruals accounting.
As such amendments made to the opening balances and comparative figures are:
£ Original opening balance at 31/12/23 32,032 Property taken at 2016 valuation as best estimate 825,000 Mortgage on property per statements (130,922) Accrual of independent examners fee (756) Total 725,354 Comprising: Revaluation reserve 675,000 Unrestricted funds 50,354 Total 725,354
As records are not available for the cost of the property it has been deemed to be £150,000 as per the loan taken out to improve property in 2016. This leaves a revaluation reserve of £675,000.
1.3 Fund Accounting Policy
Unrestricted income funds are general funds that are available for use at the trustees' discretion in furtherance of the objectives of the charity.
Designated funds are amounts that are allocated for specific purposes by the charity itself.
Restricted funds are those donated for use in a particular area or for specific purposes, the use of which is restricted to that area or purpose.
Page 8
Bethany Homes, Camborne Notes to the Accounts Revaluation funds are unrestricted funds which include a revaluation reserve representing the restatement of inv¢stm¢nt assets at their market value. Income There has been no offsettingF of assets and liabilities, or income and expenses, unless required or permitted by the FRS102 SORP or FRSIO2. met: the charity has entitlement to the funds; any perforniance conditions attached to the item(s) of income have been met or are fully within the control of the charity; there is sufficient certainty that receipt of the income is considered probable. and the amount can be measured reliably. Donalions and legacies are volunlary income received by way of donations and gifts. It is included within the accounts when receivable and only when the charity has unconditional entitlement to the income. Tax reclaims on donations and gifts are included in the accounts at the same time as the gifvdonation to which it relates Donated goods and services are only included in income (with an equivalent amount in cxpcnditurc) whcrc thc bcncfit to thc Charity is rcasonably quantifiablc, mcasurablc and matcrial. The value of services provided by volunteers is not included within the accounts. 1.5 Resources expended Liabililies ar¢ r¢¢ognis¢d whLre th¢r¢ is a legal or ¢on8lru¢tive obligation committing th¢ Lharily lo the expenditure. All expenditure is accounted for on an accruals basis and includes the attributable value added tax which cannot be recovered. Grants payable are charged in the year when the offer is conveyed to the recipient except in those cases where the offer is conditional, such grants being recogmised as expenditure when the conditions attaching are flllfllled. Grants offered subject to conditions which have not been met at the year-end aTe noted as a Commitment, but not accrued as expenditure. Charitable expenditure comprises those costs incurred by the charity in the delivery of its activities and s¢tvic¢s for its b¢n¢fi¢iaries. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them. Support costs are the those costs required to support the charity in carrying out its activities and meeting its objects. Govemance costs include costs associated with meeting the constitutional and statutory requirements of the Charity, including the preparation and examination of the statutory accounts, the costs of trnstee meetings and other costs linked to the strategic management of the Charity including the cost of any legal advice to trustees on governance or constitutional matters. Page 9
Bethany Homes, Camborne Notes to the Accounts Tangible fixed assets and depreciation All assets Costing more than £500 are capitslised. Tangible fixed assets are stafrd at cost less depreciation. Depreciation is provided on all tangible fixed assets at rafrs ¢alculafrd to wrifr off the Cost less estimated residual value of each asset over its expected use7 life, which is reviewed annually. The rates used are as follows-_ Freehold property no depreciation as the property value is expected to increase over tirne Plant and machinery -IOO/o Straight line Fixtures and fitting -10 /0 straight line Taxation The charity is exempt from corporation tax on its charitable activities. Debtors Trade and other debtors are reeognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due. 1.10 Cash at bank and in hand Cash at bank and cash in hand includes cash and short tern] highly liquid investments with a short maturity of thre¢ months or less from the dafr of acquisition or opening of the deposit or similar account. 1.1 I Creditors and provisions Credit()rs and provisionq are rccognised whcrc the charity has a prc.8cnt obligation rcsuliing fr()m a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally Tecognised at their settlement amount after allowing for any trade discounts due. 1.12 Statement of cash flows The charity is exempt from preparing a statement of cash flows on the grounds that it is a small chaTity 2 Company Statu5 Thc charity is an unincory)oratcd charity and has no sharc capital. The charity is registered in England. The members of the charity are the trnstees named on page l. Page 10
Bethany Homes, Camborne Notes to the Accounts 3 Statement of Financial Activitie5 - prior year Unrestricted funds 2023 Total funds 2023 Income Income and endowments from: Charitable activities Investments Other Total Expenditure Expenditure on: Charitable activities Tolal 32,874 249 200 33,323 32,874 249 200 33,323 24,742 24,742 24,742 24,742 Net income/(expenditure) before investment gains/(losses) Nel movement infunds Reconcilia¢ion offunds.. Total fund% brought forward Totalfunds carriedforward 8,581 8,581 8,581 8,581 716,773 725 354 716,773 725 354 Please see note 1.2 reflecting the ¢hange due to a move to accrual accounting 4 Incoming resources from charitable activities Unrestricted funds Total funds Prior year funds 2025 2023 Primary Purposé Trading.. Rents Other income 45,222 45,222 32,874 200 33,074 45,222 45,222 5 Investment income Unrestrieted funds Total funds Prior year funds 2025 2023 Interest on cash deposits 849 849 249 849 849 249 Pagell
Bethany Homes, Camborne Notes to the Accounts 6 Expenditure on Charitable activities Unrestricted Total Prior year 2023 2025 Support costs Rcnt and rntcs Light, heat and power Insurance Building Repairs and maintenance Charitable donations Sundry expenses Legal and professional fees Bank charges Loan Interest 8,833 1,813 1,585 8,833 1,813 1,585 44 1,175 24,825 24,825 6.665 2,100 24 2,181 85 10,447 2,100 24 2,181 85 10,447 3,200 4,200 60 8,643 Total Support Costs 51,893 51,893 23,987 Governance Costs Th¢ ind¢p¢nd¢nt examination of the charity's accounts 560 560 756 Total Govemance Costs Total Charitable Expenditure 560 52,453 560 52,453 756 24.743 7 Net income/ expenditure Net income/expenditure is stated after charging.. 2025 2023 Independent Examiners, remuneration 560 756 8 Trustees, remuneration and expenses Trustees received no remuneration, benefits in kind or expenses during the current or prior year. Page 12
Bethany Homes, Camborne Notes to the Accounts 9 Tangible fixed assets Freehold intcrest in land and buildings (including heritage assets) Total Cost As at l January2024 As at 7 April 2025 825,000 825,000 825,000 825,000 Depreciation As at l January 2024 As at 7 April 2025 Net Book Value As at 7 April 2025 As at 7 April 2024 825,000 825,000 825,000 825,000 The estate, including the properties of nine one bedroom bungsalows, are held by Bethany homes in perpetuity. It is anticipated that the value of these assets will not be realised. 10 Debtors 2025 2023 Prepayments 898 898 11 Creditors: Amounts falling due within one year 2025 2023 Accruals and deferred income 560 756 560 756 Page 13
Bethany Homes, Camborne Notes to the Accounts 12 Creditors: Amounts falling due after more than one year 2025 2023 Bank loans 125,915 130,922 125915 I30922 13 Analysis of funds Asatl January 2024 Incoming Resources Resollrees Asat7 Expended April 2025 Restricted Funds General Funds Unrestricted funds 50,354 46,071 (52,453} 43,972 Revaluation Reserve 675,000 675,000 Total funds 725,354 46,071 52,453 718,972 14 Net assets by fund Unrestrleted funds Prior vcar funds Total funds Tangible assets Current assets Creditors.. Amounts falling due within one year Creditors.. Amounts falling due after more than one year Net Assets 825,000 20,447 825,000 20,447 825,000 32,032 (560) (560} (756) (125,915) (125,915} (130,922) 718,972 718,972 725,354 Page 14