Lad Lumle 's Almshouses Annual Re rt and Financial Statements aren rch 202 Lad Lumle 's Almshouses RD TE PORT The Board of TnLStees submit their amiual report and accounts for the charity for the year ended 31 Ma￿h 2025. The financial stat¢ments are prepared to Comply with th¢ ChaTities Act 2011, the Statement of Recommended Prncti¢e "Accounting by R¢8iStered Social Housing Providers (update 2018)" and with the Charity's governing document. LEGAL AND ADMINISTRATIVE INFORMATION Full name ofihe Charity.. Re￿Sler£d Charity number.. HCA Regisiered number." Lady Lumley's Ahnshouses 229068 A3567 Regisiered Office ofihe Charity.. The Old Grammar School Br￿k Lan¢ Thornto7J le Dale Norib Yorkshire Y018 7R2 I￿ependeNt Examiners.. Hallgarth Accounlants Ltd Chartered Accountants 2 Hallgarth. Pickering, North Yorkshire Y018 7AW BaNkerJ." National Westminster Bank PIC 27 Yorkersgate Mallon, North Yorkstsir¢ Y017 7AZ Siockbrokers.. M¢ssrs Redmayne Bentley 9 Bond Court Leeds LSI 2JZ Solicilors.. Crombie Wilkinson LLP Clifford House 19 Clifford Street York YOI 9RJ Lad Lumlev'$ Almshouses BOARD OF TR TEES, REPO STRUCTURE GOVERNANCE AND MANACENAENT Governance The Charity WYLS founded by d¢ed poll dated 8 October 1657, and comprised in a scheme made under the Endowed School Acts on 14 July 1899 and is administered undeT the Charity Commissioners. Sch¢me dated 22 August 2001. The Charity is a housing association register￿ with the Homes and Communities Agency (fornlerly the Tenant SeTYices Authority) under the Housing and Registration Act 2008. intm¢nt of Trust¢es to the Board Trustees are appointed at a General Meetin8 for a four-year period. Co￿ted Tn￿tee$ are appointed for a period of fiv¢ years. One nominated Ttwt¢e may be appointed by the Parish Council of Thornton le Dale and one by the Parish Council of SinningtOJL The Incwyhbents of Thi>rnton Parish and of Sinnington Parish are automatically tr￿st¢eS. though they may ask someone to take that placels) vi¢ariously. Trustee induction and trainin The ChaTity uses the existing skills of the trustees and draws on briefin8s ￿e1Ved from the Homes and Communities Agency. The Almshouse5 Association and the Charity Commission. The Charity is administered by the Tn￿tee$. These local people interested in the well-being of the elderly and infimi who have skills 4]nd knowledge ¢ov¢Jing personnel and housing in a variety of aspects including financial and social. The Ch￿lty works only within the e¢¢l¢siasti¢al deanery of Pickering (as at April 2005). an enti￿lY nwal area with one small Central market wwn. Risks to which the Chatil isex The major risks to which the Charity is exposed have been identified and systems hav¢ b¢¢n estsblished to mitigate thes¢ risks. Related rties Details of related paty transactions can be found in note 20 to these ac¢ounts. Mana ement The following are the principal officers and Trustees of the chaTity'. - Mrs G Garbutt O.B.E. Mrs J Dudley-smith Dr J Coppack Mrs L IA*¢kwood- Resigned S¢ptember 2024 Mrs R Sharrock- Resign¢d Sepiember 2024 R¢v'd Cap't R Barker MT M SwiDJ)erfon Ms C Balderson Ms C Baxter Mr A Han]ilton- Appointed April 2025 121 Lad Lumle 's Alm$house8 BOARD OF TRUSTEES, REPORT- Continued Day to day tllanagement of the charity is Catried out by the Trustees and ihe cl¢rk. Mrs M FletcheT, administ¢rs financial matters. OBJEcfIvES AND ACTIVITIES The objective of the charity is the upkeep and maint¢nance of the Altushous&s and Old Grammar School, the prov15ion of housing and general management of the funds of the Charity. ACHIEVEMENTS PERFORMANCE AND PLANS FOR FufuRE PERIODS Throughout this year the main focus of the Tn￿teeS has been to continue to put in place all the requirements to replace the failing roof on the extensions at the rear of th¢ buildings. Whilst th¢ 1656 original building has stood the t¢st of tijne. the extension has Caus￿ much concern. Related objectives put in place this yeaT should enswe that work ¢an continu¢ in the early part of 2026. Architects sourced and new plans kLave been drawn up and passed by th¢ r¢levenl authorities. Project managers have been contracted and they will oversee desigm and build. Residents have b¢en kept up to date with all developments. A commwiity infornjation session was held inviting the local community to find out more alN)ut the building project (which we hav¢ titled, Raise the Roofi From this we have received outstanding community support, helpin8 us raise much needed funds to help Lover LSSOCidted costs of ie-locatin8 residents during the period of the building work. The amount of administration Work, both related lo th¢ roof project and in gen¢ral has increased hug¢ly over the past three years. Following & review of working roles, the Trustees have app)inted Karen Selby to the part time clerk's role. Margoret Fl¢tcher will tak¢ on a more pastoral role as support inanager continuing (o support residents and ensuring prop¢rty standards. Already we see the benefits of this new working team and the Trustees are extremely grateful for their hard worK support and kindness th0￿￿1 to Te5idents. Two long-standing Trnstees stepped th)wn frorn the board this year. RAna Sharrock and Lynda tA*kwth)d had both served on the board for many year5. Christine Baxter joined the Tru8te¢s following the AGM. Our residents and their friends enjoyed several trips and activities throughout the year, including a trip to Sewerby Hall and Flamborough Head. Also, severnl trips to local garden ¢¢ntres for coffee were organised by the clerk and support managw. Christmas lunch was held at th¢ Fox and Rabbit near Lockton. Tea and Chatter sessions in the Old Grammar School Continued throughout the summer for residents and th¢ wid¢T community. These once montmy events allow the residents to come together for a welcome Chat with volunteer helpers and friends. From October through to marc￿ these were replaced with monthly Soup Sessiolls which prov¢ >pular. We are very grateful to the Small band of volunteers who oversee this group. We see the next 12 months as being extremely busy thr all concerned. The under-pinDillg work of sorting finances, insurances, resident's temporary accommodation pla¢¢ments and estimated costings is mainly Completed and we move into a period of actual building. We have received a lot of professional and community SiIPPOrt lo get us to this $tage and whilst we acknowledge that it may be two years b¢fore we get back to SOD)e sort of nornial Toutioe, w¢ are very grate￿] lo all wbo have helped us on this path. Over the years, there will have b¢en hundreds of Tn￿te¢S of Lady Lumleys Alms Houses, each one WOTking to ensure that the properties Continu¢ to offer safe and comfortable homes for their residents. Looking throu8h the archive5. we have found plans from ¢arly 1900s. 1957, 1983 and 2013, all related to updating the buildings. As Trustees, we hope that this new build project will once again make the properti¢s safe and comfortable for many years to ¢om¢. [31 OPERATING AND FINANCIAL REVIEW The Charity continues io T¢c¢ive income from investments in addition to that obtained from the residents, maintenan¢¢ payinents. Investments are tim by PTofessional stockbrokers who monitor the in￿Str￿￿ts closely. ReSou￿¢S aTe kept to coveT the wsts of repairs following quinquennial Inspectio￿8. costs of general maintenan¢¢ to properties together with fvnds to m¢et contingencies. Trnstees increased the weekly maintenance char8¢ (WMC) to residents in line with their policy. RESERVE POLICY The Charity has adequate re5erY¢s to meet its ongoing ¢ommitments and the Truste¢8 allo￿te fimds to desi￿ated r¢serves to cover maintenance liabilities. PUBLIC BENEFIT The Ttwt¢es have had due r¢8ard to the guidance published by the Charities Commission on public benefit. BOARD'S RESPONStBILITIES IN RELATION TO THE FINANCIAL STA Law applicable to Charities in England and Wales requires th¢ Ttustees to prepare fillancial stat¢m¢nts for ¢ach financial year, which give a tru¢ and fair view of the Charity's financial adivities during the year and of ils financisl position al the end of the year. In preparing those financial statements, the Trustees are required to:_ Select Suitabl¢ a¢counting policies and then apply them consist¢ntly. Obs¢rve tbe methods and ptinciples in the Charities Statement of Recommended Practice (sol￿). Make judgements and estimates that are reasonable and prydenL Stale wheth¢r applicable UK Accounting Standards have be￿ followed. and Prepare the financial statements on the 80ing concern basis unless it is iftapprnpriate to presume that the company will Continue in business. The Trustees are responsible for keeping Proper accounting r¢coTds which disclose with reasonable accuracy at any time the financial position of the Ch3rity and to enable them to ensure that the financial statements comply wtth the Charities Act 2011. They are also responsible for safeguardinE th¢ assets of the ch￿lty and hence for taking reasonable steps for the prevention and d¢tection of fraud and other ]￿egUlarItieS. We, the board members of Lady Lwniey's Almshouses who held office at the date of approval of these financial statements as set out above conty so far as we are aware, that: There is no relevant audit infonnati¢)n of which the auditors are unaware. and We hav¢ taken all the stq)s that we ought to have taken as board members in ord¢r to make ourselves aware of ihat infornwtion. Approved by the Twstees on 17 September 2025 and 8i8n¢d on their behalf by.. Mrs G GaTbutt O.B.E. Mrs C Bther Date.. 17 September 2025 14] Ladv Lumle 's Almshousts JNDEPENDENT FXAMINERS REPORT TO THE BOARD OF LADY LUMLEY'S ALMSHOUSES We r¢port to the trustees on our examination of the accounts of th¢ above chaTity for the year ¢nd¢d 31° March 2025. The financial reporting framework that has been applied in their prepardtion is applicable IAW and United Kingdom Accounting Stondard4 including Financial Reporting Standard 102 (Uniied Kingdom Generally Accepted A¢￿unting Pra¢ti¢e). Resptrtive Responsibilitie5 of the board and the llldepeDdent reportlng account411t The board of the Lady Lumley's Almshouses is responsible for th¢ preparation of th¢ accounts, &nd they consider that the charity is exempt from an audit. It is our responsibility to caTry Out PTo¢¢dwes deSI￿ed to ¢nable w to report our opinion. B*sis of OPilliOD Our procedures consist¢d of comprising the accounts Wtth the books of account kept the charity and making such limited enquiries of th¢ officers as we ¢onsid¢red necessary foT the puryjose of this report. These pr￿ed￿r¢S provide the only assura￿¢ ¢xpr¢ssed in our OPiDiO Opinlon In our opinion.. the ac¢ounts for the year-ended 31" Marrh 2025 are ID accordance with the accountsng records kept by Lady lJJmley's Almshouse$ under paragrdph 135(2Xa) of the Housing and R¢gen¢Tation Act 200S,' having r¢gard only to, and on the basis of, the inforniation obtsin¢d in the accounting records: the accounts comply with th¢ requirelnenls of the Charities Act 2011. the charity has salisfied the Condition for exemption from an audit of the accounts for the Year￿ed 3 1st March 2025 specified in section 136(6) of the Housing and RegeneTatioD Act 2008. the accounts comply with the requirements of the Housing Regenerntion Act 2008 and the Accounting Direction forprivate registeTed providers of social howing ill England 2022. Hallgarth Accountants Ltd Chartered Accountants 2 Hallgarth Pickering Y018 7AW Dale: IY September 2025 15] adv umle Ys Al￿￿houSe8 statement of Com rehensive Income ncludÉn Income and Ex for the lear ended 31 March 20 enditure Accounl 2025 2024 Notes TURNOVER 44,332 45,396 OPERATING COSTS OPERATING IDEFICID (23.738) (21,246) NET {LOSSES)/ SURPLUS ON INVESTMENTS (13.836) 15.493 INTEREST RECEIVABLE AND OTHER INCOME 48,627 46.975 INTEREST PAYABLE AND SIMILAR CHARGES 405 SURPLUS FOR THE YEAR The results for years are wholly attTibutable lo ¢ontinuing activities. On behalf of the Board Mrs G Garbuti O.B.E. Mrs C Baxter Date.. 17 September 2025 16] Lad Lumle 's Almshouses BALANCE SHEET A8 at 31 MArch 2025 2025 2024 otes TANGIBLE FIXED ASSETS Housing properties- depreciated wsts 962,968 964.814 Investments Other 829,286 831,090 160 200 1.792,414 1,796.104 CURRENT ASSETS Debtors Cash at bank and in hand io 3.651 105 623 109,274 4,771 95,170 CREDITORS.. Amotthtsfalling due Iviihin oneyear li NET CURRENT ASSET LIABILITIES TOTAL ASSETS LESS CURRENT LL4BILITIES 1.875.146 1.871,713 CREDITORS: Amounlsfqlling due after more than oneyear 12 517427 CAPITAL AND RESERVES Revenue reserye DeS1￿￿&ted r¢setve Bequest accounts Revaluation res¢rv¢ Restricted fund 13 13 13 13 13 1.001,455 1,002,069 52,353 52,353 2IO,663 210.663 100.866 89,199 These financial statements were approved by the Board of Trustees on i * SeptembeT 2025 and were signed on its behalf by: Mrs G Garbutt O.B.E. Mrs C Baxter 17] Lad Lumle '5 Almshouses NOTES TO THE FJNANCIAL STATEMENTS for the vear ended 31 Mareh 2D25 l. G¢n¢ral information and basis of ration The following accounting policies have been applied consistently in dealing with it¢ms which are considered material in r¢lation to the association's financi31 statements. The Register¢d So¢ial Housing provider is regist¢red under the Charities Act 2011 and is a Registered Social Housing provider. Basis of ac¢ountin The financial statements have been prepared in accordance with applicable Accounting Standards including Financial Reporting StAndard 102, The Financial Reporting Standard Applicable in ihe UK and Republi¢ of treland (FRSI 02), the Statemeni of R￿0￿mended Pra¢ti¢¢ for S(Kial Housing Providers 2018, and with the Accounting Direction for private registered providers of social housing in England 2019. The financial statements are also prepared under the requirements of the Housing and Regeneration Act 2008. The financial ststements baye been prepared on a going concern basis under the histori¢#I Cost convention. The financial stal¢m¢nts are prepared in sterling, whicb is the fi￿￿tIonal curren¢y of the ¢ntity. Un¢¢rtaintte5 and estimates The Trustees consider that th¢re are no material uncertainties about the Charity's ability to continue as a going concern. Estimales in relation to the usethl life of assets are considered by th¢ Trustees on an annual basis. Turnover Turnover represents weekly maintenance contribution and service Charges income receivable in the year, supporting p¢ople ?ncome, revenue grants from local authorities and lh¢ Hom¢s and Communities Agency and disposal proceeds from current asset propeTty disposals. Cash Flow Th¢ accounts do not include a cash flow statement because th¢ ¢haTity, having only twelv¢ wjits in m8n48em¢nt at the Balanc¢ Sbeel date, is exempt from the re4wirements to pr¢par¢ such a statement. Fixed assets and de re¢iation Housins propertie5 are available for rent and are stated at cost less depr¢ciation. Cost includes the cost of acquiring land and buildings, development costs, interest charges in¢uTred during the development period and expenditure incurred in resp¢¢t of improvements, which comprise the modernisation and extension of existing Properties. Legal title to the twelve A]mshouses was vestrd in the Official Trust¢e by order of the Charity Con)mission on 22 July 1941. It 18 the &swiation's policy lo maintain properties to a high standard through a continuing programme of Tefurbishment and maintenance. Cost of r¢pairs and maintenance are charged against revenue in the y¢ar in which th¢y are incurred Other fixed assets are stated at cost l¢ss accumulated depreciatiorL A fvll Ye￿'S d¢pr¢¢iation is charged in the year of purchase, but no charge is made in the year of disposal. Depreciation ha8 been charged on an almual basis ￿ follows: Rat¢ r annum 200/0 20/. Basis Reducing balance Straight line Straight line Straight IiDe Furniture, fixtiires, fittings and equipment Freehold housing properties R￿f Kitchen, bathroom & boiler The us¢fiil economic lives of all tangible fixed assets are reviewed annually. [8] Lad Lutnle 's Almshouses NOTES TO THE FINANCIAL STATEMENTS for the 'ear ended 31 Marcb 2025 Fixed assets- Housin land and buildin The land and buildings were acquired many years ago and the original wst cannot be identified and is therefore taken to be £1 for housing lalld and buildiJ)gs and £1 for other propety. The development cost of the housing properties also in¢lud¢s interest charg¢d on the mortgage loans raised to finance the scheme. Social Housin Gr4nt Social HO￿81ng Grants have been recognised using the accrual model and are included in income on a sys*matic basis over the expected us¢fiJl life of th¢ stru¢ture which is 50 years. Investments Investments held as fixed ￿ets are re-valued at the B￿anCe Sheet d&te and the gain or loss taken to the Revaluation Reserve. Mort The mortgage loan was advanced by the Housing CotT>ordtion (now known as the Homes and Communities Agency) in respecÉ of improvements made to the Lady LutJley's Almshouses, Unrestricted ￿ndS Unrestricted funds are ineoming resources receivable or genernted for the obj¢¢ts of the Charity without further specified pu￿0$¢ and are available as g¢n¢ral funds. Desi ated funds Designated fvnds are unrestri¢t¢d fun(L8 eantlarked by the TTU8tees for particularputPO8es. Restricted funds ResiTiCted thnds are to be used for sp¢¢ific purposes as laid down by th¢ donor. Expenditure which m¢ets these critsria is charged to the fund. together with a fair allocation of management and support ¢osL%. Taxation Th¢ association h&$ Charitable model rules and its surpluses and gains are fr¢¢ from taxation provided that Ih¢y are dealt with in accordan¢¢ with its rnles. 2(a) Particulars of turnover cost of ales o eratin tsando er2tin deficit 2025 2024 Cost of Operating Operdting sales cost8 (deficit Op¢rating (deficit) Turnover Turnover Social housing Idtlngs (WMQ Other activities 42,907 53,447 {10,540) 43,472 (6.556) Total [91 Ladv Lumle 's Almshouses NOTES TO THE FINANCIAL STATEMENTS for the vear end¢d 31 March 2025 2(b) Particulars of income and expenditure from social housing lettAn8S Nccts Suppffied hou5thg 2024 Totsi Other Trtal So¢ia] housing letting5 {WMQ net of Ideniifiabl¢ service cbarg¢$ 35,011 35,011 37,881 Service incomc Grts&% social housing lettillgs (WMC) 42,907 42,907 43,472 Net social housing leiiings (WMC) Housing co￿9ratiOn grants for ttyajor repairs 42,907 42,907 43,472 Other Housing Corporation revenue grants Other revenue grants Tumov¢r from ￿¢141 Housing letting Management Setvices Routine mainlenDnce Planned maintenanL¥ Major repairs ¢xpenditure 42,907 14.380 5,495 6.334 42,907 43,472 14,380 10.976 5.495 4.843 6.334 6,971 Bad debts Property leasing char8eg Deptcciation of hi)using properties 27,238 27,238 27238 Impaimient of housing properti Other costs Operating costs oll social housing lettings 53.447 53 447 50 028 Operating d¢ficit o Social housing letting5 (WMC} 10.540 2025 2024 The above figures Teflect rent losses due to voids as follows: . 952 1101 LAd Lumle '5 Almshou$e$ NOTES TO THE FINANCIAL STATEMENTS forth h20 2025 2024 2(c) Particulars of income and ex enditure from other activitie5 Grant receiv¢d Donalions 160 Mallagem¢nt Routine maintenanc¢ Depreciation of property 14,504 103 16 16,421 172 21 OpeTeting costs on other activiti¢s Operating {deficit) OJ oth¢T activities The average weekly number of perso￿8 employed durin8 the year was: Office staff Staff C4)sts (for th¢ above) Wages and salaries No Tn￿tee received aDy remuneration or expe])ses durin8 the year (2024.. £nil). *d Lumle 's Almshouses NOTES TO THE FINANCIAL STATEMENT Imsr h 2025 2025 2024 Interest re¢¢ivable and Similar inwme Income from fixed ass¢ts and investments Other interest receivable 48,627 46,975 Interest blc and similar char On bank loans. overthafts and other108ns.' Repaydble wholly or partly in more than five y¢aTS lusl Deficit on ordina activities befor¢ tsxatiott Surplusl (Deficit) on ordinary activities before taxation is stated after ¢harging: D¢precialion: Tangible owned fixed ass¢ts 27 The association has charitable model Tules and its surpluses and gains are free from taxation Provided that they are dealt with in aecordanc¢ with its rules. [12] Imshou NOTES TO THE FINANCTAL STATEMENTS for the v ar nded 31 March 2025 Tan ible f1xed &8sets Freehold housing Properties held for letting Fixtures. fittings and equipment 2025 Total 2024 Total Cost or valuation At beginning of year Additions Disposals At end of y¢ar 1,196,885 25,392 18,643 1,215,528 25.392 1.215,528 De reciation At beginning of year Charge for the year Disposals At end of year 232,071 27,238 18,443 250,514 27,278 223.227 27287 Net book value At 31 March 2025 At 31 March 2024 96 [131 Imshou NOTES TO THE FINANCIAL STATEMENTS for the vear ended 31 MAreh 2025 Fixed asset investments At l April 1984 ibe Charity's ¢umul&tive ]￿Iding in National Association of Almshouses Common Investment Fund (NAACIF) Income Shares amounted to 50.626 units. The costs of these shares cannot be id¢ntified. The TNstees therefore attrÉbuted the market value at l April 1984 (th¢ date from which the Charity's accounts fwst complied with the Housing Corporation's Recommended Fonn of Accounts) as a base cost. The investments held are as follows'.- 2024 Cost or b&$¢ cost At be8inning of year Additions Disposa15 Al end of year 741,891 194,489 771.940 114.796 41 Market value At beginning of yeaT Additions Disposals 831.090 194,489 -182 458 843.121 822,258 114,796 -121457 815.597 Net (lossy gain on iThvestroenls At end of year 29 Listed investments Common investment funds 610.753 218 533 601,877 229 213 All investments are Ca￿led at their fair value. Investments in ¢quities and fixcd intuest securities are all traded in quoted public market4 primarily th¢ IA)ndon Stock Ex¢hange. Holdings in common investment fvnds, unit trusts and open-en&d investment companies are at bid price. The basis of fair value for quoted inveslmenis is equivalent to the market value using the bid price. Asset sales and purchases aTe recognised at th¢ dat¢ of trade at cost. [14] 's Almshouits NOTES TO THE FINANCIAL STATEMENTS rth veAr ended 31 M*rch 2025 2025 21Tr24 10 Debtors.. Amourttsfalling due within oneyeur M&inteThance debtors Other debtors 281 162 651 I I CTeditors'. Amowitsfalling du¢ within oneyear Loan repayable within one year (s¢¢ note 12) Housing grant Other accrnals and defeTred income 12,620 12,620 12 CT¢ditors: Amountsfalling due after more than oneyÈar Housin ant.. The housing grant is held in creditors aDd released OV¢T the usefid life of the stsucture which is estimated be 50 years. 2025 2024 Kepayabl¢ over one year.. Between one and two years Between three and five yeat In five years or more 12,620 37,860 454 327 12,620 37,860 Loan.. The loan has been secured with a fixed legal charg¢ over the Association's housing pioperties. Th¢ loan is repayable as follows.'- 2025 2024 Repayable over one year.. Between one and two years Between three llnd five years In five years or more Repayable within one year (see J)ote I l) The loan is repayable by monthly instalments and inlerest is charged at 5.250/0. Total amounts falling due after more than one year [151 Lad Lumle Almshouse5 NOTES TO THE FIY4ANCJAL STATEMENTS for the vear ended 31 March 2025 13 Reserves Revenue Reserve The in¢ome and expenditUTe reserve repres¢nts cumulative suwlus and deficits. led Reserv¢ DesI￿ated reserves represent unrestricied revenue reserves sel asid¢ by the Trustees for it¢D￿ of ordinary main*nance and repair of almshouses belonging to the Charity which recur at infrequent intervals. Revaluation R¢serve The revaluation reserve represents th¢ cumulative effect of the revalualion of investtn¢nts. est Account The bequest ac¢ount relates to fijnds bequeathed to the Charity in the Will of the late Gerald Woifindin HLssell-Maw and which on the stipulations of his Will. were released to the Charity on the death of Miss Margery Woffindin Rob¢rt8 OTh 2 Febnwy 1987. The ￿nd totalling £194,081 was passed to the Official CustodiaD of Charities wilh two thirds being held for the ￿e of the Lady Lumley's Almshouse5 and on¢ third being h¢ld for the use of the Old Grammar School at Thornton Dale. The funds are held in investments by the Charity, and are regarded &s part of the EDdowm¢nt. Income generated from the investments can be spent by the charity how¢ver the capital resetves must remain inta¢t in fidl. Restricted Fund The Restricted Fund relates lo th¢ £2 deemed cost of the ChArity's housing land and buildings and other propety which cannot be disposed of by the Charity. 14 Revdluation Rserve 2025 2024 Investment revaluation reserve The major part of tbis reserve is considered to be in respect of Restricted Funds & Beque8t Account. lus fimd 15 Rentsu None of the a¢¢ommodation is relevant for th¢ purposes of Rent Surplus Fund Calculations. [16] Lad Lumle '$ Almshouses NOTES TO THE FINANCIAL STATEMENTS rthe ear ende l March 20 16 Ca t21 commitments 2025 2024 Expenditure contracted for and not provided for Expellditure approved and contracted for 17 Cont nt liabilities There were no known conlingent liabilities at 31 Marth 2025 (2024.. Nil). 18 Accommodation in manB ent There are 12 units providing housing for older people und¢r the management of Lady Lumley's Almshouses {2024=12). 19 Related transactions None of the Trustees was paid any remwleration or expensu by the charity during the year {2024 - £Nil). At the date of these financial statements one Board M¢m￿r was a mernber of a relat¢d Local Parish Council. Th¢ Trnslee concerned was nol abl¢ to use his position to his commercial advantage. No Board members were tenant5 of the properties of th¢ charity. 20 Non-audit services Jn common with many otheT charities of our size and nature. the Charity uses its accountants lo assist wilh the preparation of the fman¢ia] statements. 1171 Lad Lumlev's Almshouyes APPEJYDIX TO THEACCOUN or the vear ended 31 Ma Management exp¢nses- So¢ial Housing Ltttings Depreciation Housing 2024 Tothl 2025 Total Housitbg Mana ement Repairs Estate Costs 6.971 Repairs 1.760 Insurance Council tax & Water 4,063 Telephone & Lifeline 766 Electricity 6,334 1,787 ,658 ,820 1,847 6.334 1.787 1,658 1.820 1.847 Office ov rhea¢L8 2,100 Accountancy 102 Subsuiptii)n 7.000 Secretatial expenses 28 Depreciation- office equipment 2L& Depreciation- housing Properties 2,376 1,183 9,180 24 2.376 1,025 9,180 12 158 12 23 2024 2025 172 Repairs 2,833 1nsuranc¢ 2, IIKI Accountancy 4.107 Sundries 486 Heating 1.702 Cleaner 21 DepT¢ciation (incl. loss on sale) Bank charges 121 JJ)vestment admin f¢¢ 14 103 2,689 2,100 2.800 448 1.265 16 611 Tolai management expens¢$ [18]