Charity Reglstration No. 229908
Regulator of Soclal Housing No. A3245
EUSTACE HOOKAND DRUMMOND MEMORIALALMSHOUSES
ANNUAL REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022

EUSTACE HOOK & DRUMMOND MEMORIAL ALMSHOUSES
LEGALAND ADMINISTRATIVE INFORMATION
Trnstees
DrA Ashbee
MrsA Coles
Mrs S Hellyar
Mr S Kingsbury
Mrs S Shaw
Mr P Hickmott
Mrs V Tipp (Treasurer and
Secretary)
Charlty number
229908
Regulator of Social Houslng number
A3245
Prfncipal Address
27 Hollow Road
Snodland
Kent
ME6 5LP
Independent Examlner
A M Reid FCA
McLean Reid
Chartered Accountants
1 Forstal Road
Aylesford
Kent
ME20 7AU
Bankers
National Westminster Bank PIC
718 London Road
Larkfield
Aylesford
Kent
ME20 6BL

**EUSTACE HOOK & DRUMMOND MEMORIAL ALMSHOUSES** 

## **CONTENTS** 

|**CONTENTS**||
|---|---|
||**Page**|
|**Trustees' Repor**|**3-5**|
|**Statement of Trustees' Responsibilities**|**6**|
|**Independent Examiner's Report**|**7**|
|**Statement of financial acivities**|**8**|
|**Balance sheet**|**9**|
|**Notes to the financial statements**|**10-18**|




**-2-** 



EUSTACE HOOK & DRUMMOND MEMORIAL ALMSHOUSES
TRUSTEES, REPORT
FOR THE YEAR ENDED 31 DECEMBER 2022
The trustees present their report and tt)e audited financial statements of the charity for
the year ended, 31 December 2022. The trustees have adopted the provisions of the
statement of Recornmended Practi￿ (SORP)"Accounting and Reporting by Charities" in
preparing the annual report and financial statements of the charity.
The financial statements have been rKepared in a¢cordance wbth the accounting policies
set out in not8S to the accounts and comply with the tharity's goveming doGument, the
Charities Act 2011 and Accountiro and Reporting by Charities: Statement of Recommended
Practice applicable to charilies preparing th￿r accounts in accordance with the Financial
Reporting Starnlard applicable in the UK and Republic of Ireland published in October 2019.
Objectives and actlviti8S
The charity vrns formed to provide low Cost housing for poor persons who are not less
than sixty-five years of age and who were bom in, or have been an inhabitant for not less
than ten years of. Ihe Parish of Sn¢)dland. Kent
The trustees have paid due regard to guidance issued by the Charity Commission in
deciding what activities the charity should undertake.
Publlc benefrt
In managing the charity's activities and finances during the financial year. the trustees
were aware, and had due regard to, the Charity Commission's guidance on public benefit.
Achievements and perfomiance
Once again, the charity was successful in retaining 1 Oooh occupan¢y of the almshouse5
during the year. and collected maintènance contributions from all tenants.
The charity continues to maintain contribub'on levels below the cap enforced by the
Regulator for Social Housing. Due to the increase in the cost of living the charity decided
not to increase the maintenance charge for the residents.
Following the easing of Covid-19 restrictions, the charity has now completed the
refurbishment of the kitchen and wet-room areas of two llats. Essential repairs and
maintenance continued to take place as required so as to ensure high qualty living
standards for all residents.
Flnanclal mle
During the year ended 31 December 2022. the charity collected contributions from
residents towards the maintenance of the almshouses amounting to £44,152 (2021:
£43,818) and generated other investment income of £7,041 (2021: £4,757). The total
income was £51.193 (2021: £48,575) and of that amount £64,596 (2021.. £53,910) was
expended, giving a deficit {2021.' for the year before movements on inve5tTnents of
£13,403 (2021: £5,335).

EUSTACE HOOK & DRUMMOND MEMORIAL ALMSHOUSES
TRUSTEES, REPORT
FOR THE YEAR ENDED 31 DECEMBER 2022
(Continued...)
An unrealised h)ssof £7,026 {2021 pn.. £13,348) was recognised in respect of the charity's
listed inveslment portfolio during the year.
The overall defiat for the year was £20.42912021 Sur￿US.. £8,013). As at 31 De￿mber
2022, the charity's totsl funds amounted to £327,262 {2021: £347,691).
The trustees have assessed the major risks to which the charity is exposed and are
satisfied that systems are in pla￿ to miti'gate exposure to the major risks.
ReseNes Pollcy
It is the poliq of the charity to ultimately maintain 'free' reserves (being that element of the
unrestricted funds which is not funding fixed assets) of at least one yearfs maintenan
contributions uplffted to cover anticipated expenditure for the following year.
As at 31 December 2022 the free reserves of the charity amounted to £142,378 {2021."
£145,038). The trustees consider the closing level (b￿ng roughly equivalent to 3 (2021.. 4)
years of running costs) and growth of free reserves to be adequate, allowing for unplanned
expenditure.
Designated funds at 31 December 2022 total £184,884 {2021.' £202,653) - see note 12 for
details.
Plans for future perfods
The trustees have completèd an inspection of the almshouses, including ¢ommunal areas.
All three stairfifts have been replaced with new ones as spare parts for the old ones became
difficum to obtain. The charity will continue to improve the premises over the coming period
for the benefit of all tenants.
Structure, govemance and management
The tTUStees of the charity who held office throughout the year were as foll0v￿."
DrAAshbee (Chair)
MrsA Coles
Mrs S Hellyar
Mr S Kingsbury
Mrs S Shaw
Mr P Hickmott
Mrs V Tipp ffreasurer arKI Secretary)
(Appointed 30 Jun8 2022)
In aGcordanc8 Wlth the charity's scheme regulations, the body of trustees should consist of
no more than seven competent persons, being tsvo Nominative Trustees (nominated by the
Snodland Town Council for four year tenns) and five co-opted trustees each. to serve for
p￿0d of 5 years. The office of chaiman is subject to election annually. with Dr A Ashbee
being appointed chainnan on 10 November 2022.

EUSTACE HOOK & DRUMMOND MEMORIAL ALMSHOUSES
TRUSTEES, REPORT
FOR THE YEAR ENDED 31 DECEMBER 2022
(Continued...)
Mrs v fipp and Dr A Ashbee retire by rotation at the 2022 Annual Meeting. They offer
themselves for re- election.
Mrs S Shaw and Mr Hickmott are the current representative trustees trom Snodland Town
Council.
The charity is regist8red with the Charity Commission in England and Wales, Charity number
229908. It is estsblished under Trust Deeds dated 30 July 1900 and 10 May 1904, and
subsequently a Scheme approved by the Charity Commissioners dated 11 January 1980. It
is also registe￿ with the Homes England under the Housing and Regeneration Act 2008.
The trustees forni a Committee of Management vthich meets ￿1c8 a year and on an ad-hoc
basis to control and monlior the perfomiance of the charty. Day to day operations are
controlled by the secretary.
An annual strategic plan is prodU￿d to ensure the charty's housing strxk is kept fully
maintained.
As part of their on-going management of the charity, th8 trustses review the effectiveness of
the system of intemal control which they acknowledge to be their responsibility.
Golng concern
At the time of appro1￿ng Ihe financial statements, the trusteès have a reasonable expectation
that the charity has adequate resources to continue in operational e￿stenCe for the
foreseeable fuiure. Thus the trustees continue to adopt the going concern basis of 8c£ounting
in preparing the financial statements.
The tNstees report was approved by the Board of Trustees.
l. kLkn CLk411)
Mrs V Tipp (Chair)
Dated: 27 October 2023

EUSTACE HOOK & DRUMMOND MEMORIAL ALMSHOUSES
STATEMENT OF TRUSTEES, RESPONSIBILITES
FOR THE YEAR ENDED 31 DECEMBER 2022
The trustees are responsible for preparing the Trustees, Report arKI the financial
Stat￿entS in accordan￿ with applicable law and United Kingdom Accounting Standards
(United Kingdom Generally Accepted Accounting Practice).
The18w applicable to charities in England and Wdles requires the trustees to p￿pare
financial statemènts for each financial year which give a truè and fair view of the state of
affairs of the charity and of the incoming resources and application of resources of the
charity for that year.
In preparing these financtal statements, the trustees are required to..
select suitable accounting policies and then apply them consistently,.
obseNe the meth¢)ds and principles in the Charities SORP;
make judgements and estimates that are reasonable and prudent"
state whether applicable accounting standards have been followed, subject to
any material departures disclosed and explained in the financial ststements,. and
prepare th8 finanaal statements on the going concern basis unless it is
inappropnate to presume that the charity will conb'nue in operation.
The trustees are responsible for keeping suffi￿ent accounting records that disclose with
reasonable accuracy at any time the financial position of the Charity and enable them to
ensure that the financial statements compty with the Charities Act 2011, the Charity
(Accounts and Reports) Regulations 2008 and the provisions of the trust deed. They are
also responsible for safeguarding the assets of the charty and hence for taking reasonable
steps for the prevention and detection of fraud and other irregularities.

EUSTACE HOOK & DRUMMOND MEMORIAL ALMSHOUSES
INDEPENDENT EXAMINER'S REPORT
TO THE TRUSTEES OFEUSTACE HOOK & DRUMMOND MEMORIAL
ALMSHOUSES
I report to the charity trustees on my examination of the accounts of Eustace Hook &
Drummond Memorial Almshouses (the Trust) for the year ended 31 December 2022.
Responslblllties and basls of rnport
As the charty trustees of the Trust you are responsible for the preparation of the accounts in
accordance with the requirements ofth8 Charttres Act 2011 (Ihe Ad).
I report in respect of rny examlnation of the Trust's accounts Carri￿ out under Section 145 of
the Act and in carying out my examination I have followed all applicable Dire¢tions given by
the Charity Commission under Section 145{5)(b) of the Act.
Independent examlneffs slatement
I have completed my examination. I conllm that no material matters have come to my
attention in conne(aion with the exarnination giving me cause to believe that in any material
respect:
accounting records were not kept in respect of the Trust as required by Section
130 of the Act., or
the accounts do not accord with those records., or
the a¢¢ounts do not compty with the applirAble requirements conceming the fomi
and content of arxounts set out in the Charities (Accounts and Reports}
Regulations 2008 other than any requirement thal the accounts give a true and
fair view ￿th1¢h is not a matter consid8red as part of an independent examination.
I have no concems and have come across no other matters in connection with the
examination to which attention should be drawn in this report in order to enable a proper
understandiro of the accounts to be reached.
A M Reid FCA
ean Reid
Chartered Accountants
1 Forstal Road
Aylesford
Kent
ME20 7AU
28 October 2023

EUSTACE HOOK & DRUMMOND MEMORIAL ALiasHOUSES
STATEMENT OF FINANCIAL ACTIVITIES
FOR THE YEAR ENDED 31 DECEMBER 2022
Unrestrfcted
Funds
2022
Unrestricted
Funds
2021
Notes
Income from:
Donations and legacies
44,152
43,818
Investments
7,041
4,757
Total inLx)me
51,193
48.575
Expendlture on:
Charitable acllvittes
60,206
45,830
Other
4,390
8,080
Total expenditum
64,596
53,910
Net gains (losses) on investments
(7,026)
13,348
Net (deficit)lincome
(20,429)
8.013
Fund balances at 1 January 2022
347,691
339.678
Fund balances at 31 December 2022
12, 13
327,262
347,691
The statement of financial activtties indudes all gains and losses recognised in the year. All
income and expenditure derive from continuing activities.

EUSTACE HOOK & DRUMMOND MEMORIAL ALMSHOUSES
BALANCE SHEET
FOR THE YEAR ENDED 31 DECEMBER 2022
Notes
2022
2021
Flxed assets
Tangible assets
Investments
18,757
166 127
184,884
37,514
165,139
202,653
Current assets
Debtors
Cash at bank and in hand
10
746
143 632
144.378
744
150 955
151.699
Credilors (amounts falling
*Jue bmthin one year)
11
6.661
Net ¢utrent assets
142 378
145 038
Total assets less current
liabilities
327,262
Income Funds
Unrestricted F
Designated funds:
Fixed assets fund
Investment fund
Otherfvnd
3,562
166,127
15,195
7.124
165,139
30,390
Total designated funds
General unrestricted funds
12
184.884
142 378
202,653
145,038
un￿StriCted funds
13
327,262
347,691
The financial a¢counts were approved by the Trustees on 27 October 2023.
DrA Ashbee (ChairjTrustee
Trustee
Mrs V Tipp iTreasu
Trustee
and Secretary)

EUSTACE HOOK & DRUMMOND MEMORIAL ALMSHOUSES
NOTES TO THE FINANICAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022
Accountlng Pollcles
Charlty Informatlon
Eustace Hook and Drummond Memorial Almshouses (the 'charity') is registered as a
charity with the Charity Commission in England and Wales, Charity number 229908.
The registered address is 27 Hollow Lane, Snodland, Kent ME6 5LP. The thaiity is also
registered wsth Homes England urKler the Housing and Regeneration Act 2008.
The nature of the charity's operations and prinopal a¢tlvities Is to provide low cost
housing for poor persons who are not less than sixty-five years of age and who were
bom in, or have been an inhabitantfor not less than 10 years of, the parish of Snodland.
1.1 The financial statements have been prepared in accordance with the chaTity's
goveming document, the Charibes Act 2011 and 'Accounting by Charities.. Statement
of Recommended PraGtice' applicable to charities preparing their accounts in
accordance with the Financial Reporting Standard applicable in the United Kingdom
and Republic of Ireland (FRS 102) Issued In October 2019 and UK Generally Accepted
Accounting Practice. The charity Is a Publi¢ Benefit Entty as defined by FRS 102.
The charity has taken advantage of the provisions in the SORP for charities applying
FRS102 Update Bulletin 1 not to prepare a Statement of Cash Flows.
The financial statements have departed from the Charities (Accounts and Reports)
Regulations 2008 onty to the extent required lo provide a true and fair view. This
departure has involved following the Ststement of Recommended Practice for charities
apptying FRS 102 rather than the version of the Statement of Recommended Practbce
which is referred to in the Regulations but which has since been viithdrawn.
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
£1.
The financial statements have been prepared under the historical cost convention,
modified to include the revaluation of freehokl properties and to include investment
properties and certain financial instruments at fair value. The principal accounting
policies adopted are set out below.
1.2 Going concern
At the time of appro￿ng the financial statements, the trustees have a reasonable
expectation that the charity has adequate resources to continue in operational
existence for the foreseeable fLrture. Thus the twstees continue to adopt the going
concem basis of accounting in preparing the financial statements.
1.3 Charitable funds
UnrestricAed funds are available for use at the discretion ofthen trustees in furtherance
of their tharitable objectives.
10-

EUSTACE HOOK & DRUMMOND MEMORIAL ALMSHOUSES
NOTES TO THE FINANICAL STATEMENTS CONTINUED
FOR THE YEAR ENDED 31 DECEMBER 2022
Accounting policles Icontlnued)
Deswnated funds comprise funds which have been set aside at the discretion of the
trustees for specffic purposes. The purposes and uses of the designated fijnds are set
oul in the notes to the financial statemeTrts.
1.4 In¢ome
Maintenance conlributions from residents are re¢ognised as income when received by
the charity.
Grants, donation income and income from investments are rectsJnised when
receivable.
1.5 Expendtture
All expenditure is a¢￿Unted for on an a¢¢ruals basis. Expenditure is allo&*ed to cost
categories based on the amount attributable to that actiwty in th8 year. Irrecoverable
VAT is allocated against the related expense.
1.6 Tanglble fixed assets
Tangible fixed assets (including social housing properties) are stated at cost. The cost
of housing properties includes the following..
Development expendrture, including major structural reftjrbishment v￿￿ks.
Amounts equal to acquisition and development allowances receivable.
These costs are either temied 'qualifying costs, for the approved housing association
schemes and are considered for mortgage loans by the appropriate lending authorities,
or a￿ met out of the Charity's r8S8ives.
The cost of acquiring the Charity's housing land and bulldlngs, however, is not induded.
riue to the almshouses is vested in the Charity under the terms ofthe Trust deeds dated
30 Juty 1900 arKI 10 May 1904. The chanty has therefore never incurred any cost in
acquiring ts knd and buildings.
The cost of housing and land and buildings is depreciated over the period to 2023. The
trustees consider this to be a reasonable refiection of the expected useful lrfe of the
development cost.
1.7 Flxed asset investments
Fixed asset investments are initially measured at transaction price excluding
transa¢Xion costs, and are subsequently measured at fair value at each reporting date.
Change in fair value are recognised In net income l (expenditure) for the year.
Transaction costs are expensed as incurred.
1.8 Impalrment of flxed assets
At each reporting end date. the Charity reviews the carying values of it5 tsngible
assets to determine whether there is any indication Ihat those assets have suffered an
impainnent loss. If any such indication exists, the recoverable amount of th8 asset is
estimated in order to detemine the extent of the impainnent loss {rf any).
11

EUSTACE HOOK & DRUMMOND MEMORIAL ALMSHOUSES
NOTES TO THE FINANICAL STATEMENTS CONTINUED
FOR THE YEAR ENDED 31 DECEMBER 2022
Accounting pollcles (contlnued)
1.9 Cash and cash equlvalents
Cash and cash equivalents include cash in hand and deposits held at call with banks
and original maturrties of three months or less.
1.10 Flnanclal Instruments
The Charity has elected to apply the provisions of Section 11 'Basic Financial
Instruments, and Section 12 '0ther Finanual Instrument Issues, of FRS 102 to all of its
finanaal instfuments. Financial instruments are recognised in the Charity's balance
sheet when the Charity becomes paty to the contractual provisions of the instrument.
Financial assets and liabilitie5 are offset, v•￿th the net amounls presenled in the financial
statement, when there is a legally enforceable right to set off the recognised amounts
and there is an intention to settle on a net basis or to realise the asset and settle the
liability simultaneously.
Basic ffnanclal assets
Financial assets dassffied as recelvable within one year are not amortised.
9asic financial liabllitles
Finanaal liabilities payable within one year are not amortised.
Trade creditors are obligations to pay for goods or services that have been acquired in
the ordinary course of operations from suppliers. Amounts payable are dassified as
urrent liabiif(ies if payment is due in one year or less.
1.11 Taxatlon
The charty is an exempt Charty within the meaning of sthedule 3 of the Chanties Act
2011 and is considered to pass the tests set out in Paragraph 1 Schedule 6 Flnance
Act 2010 and thèrefore it meets the dèfinition of a charitable company for UK
corpor*ion tax wrposes.
Crltlcal accountlng estlmatss and Judgements.
In the application of the charty's accounting policies. the trustees are required to make
judgements, eslirnates arKI assumptions about the carying value of assets and
liabilities that are not readily apparent from other sources. The estimates and
associated assumptions are based on historical experience and other factors that are
considered to be re￿Vant. Actual results may dtffer from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis.
Revisions to accounting estimates are recognised in the period in which the estimate
is revised where the revision affects only that period, or in the period of revision and
fvture periods where the revisions affects both CU￿ent and future periods.
The following are the signfficant management judgements made in applying the
accounting polici85 of the charity that have the most significant effert on amounts
recognised in the financial statements:
12-

EUSTACE HOOK & DRUMMOND MEMORIAL ALMSHOUSES
NOTES TO THE FINANICAL STATEMENTS CONTINUED
FOR THE YEAR ENDED 31 DECEMBER 2022
V81uation of tangible [￿ed a&sets
Housing properties in tsngible r￿ed assets are valued at deemed cost at 1 January 2014.
Valuation of fix8d 8&8ets inv8Stments
Fixed asset investments are valued at dosing mid market value at the balance sheet date.
Donatlons and legacles
2022
2021
Maintenance contributions
44.152
43,818
Income from Inve8knents
2022
2021
Income on investment fund
5,989
4,732
Interest receivable
1,052
25
7.041
4,757
Charltable Activitles
2022
2021
Rate5 and water
2,834
3.022
Light and heat
1,077
569
Property ￿paIrS and maintenance
36,185
22.239
Insurance
1,353
1.242
Depreciation on freehold prop
18,757
18,758
60,206
45,830
Trustees
The ¢harity had no employees during the year (2021.. Nil)
13-

EUSTACE HOOK & DRUMMOND MEMORIALALMSHOUSES
NOTES TO THE FINANICAL STATEMENTS CONTINUED
FOR THE YEAR ENDED 31 DECEMBER 2022
The secretary received aggregate fees for her work amounting to £1.789 {2021."
£1,760)
In 2022 the secretary was not reimbursed for any expenses. In 2021. the secretsry was
reimbursed £110 in respect of Maintenan￿ costs, which she paid for personally on
behalf of the charlty.
No other trustees received remuneration from the charity during the year {2021: £Nil).
No expenses were paid or reimbursed to other trustees during the year12021 £Nil).
Other
2022
2021
Bank charges and interest
105
Independent Examinerfs (2021.'Audiior's) remunerati¢)n
2,0
4,200
other non-audit fees
1,692
Secretary's fees
1.789
1.760
Subscriptions
502
300
Sundry
23
4,390
8,080
Tanglble flxed assets
Freehold
land and
bulldlngs
Cost
At l January 2022
538,176
At 31 December 2022
538,176
Depreciation
At 1 January 2022
500,662
14-

EUSTACE HOOK & DRUMMOND MEMORIAL ALMSHOUSES
NOTES TO THE FINANICAL STATEMENTS CONTINUED
FOR THE YEAR ENDED 31 DECEMBER 2022
Depreciation tharged in the year
At 31 December 2022
519,419
Carying amount
At 31 December 2022
18.757
At 31 December 2021
37,514
At the balance sheet date, the charity owned property vthich contained ten (2021.10)
dwelling unts. All ten of the units were in us8 throughout the year for the one principal
activity of the charty.
The cost of acquiring the Charity's housing land and buildings is not included in the
above.
Tit￿ to the almshouse is invested In the Charity under the temis of the trust deeds dated
30 July 19Crf) and 10 May 1904. The Charity has therefore never inCu￿ed any cost in
acquinng ils land and buildings.
Flxed asset Investments
Listed
investrnent
Cost or valuatlon
At 1 January 2022
185,139
Additions
8,014
Valuation charges
(7.0261
At 31 Decèmber 2022
166,127
Carrying amount
At 31 December 2022
166,127
At 31 D8cember 2021
165,139
Listed investments are valued at dosing mid-market value at the balance sheet date.
The historical cost of fixed asset investrnents is £107.954.
Material investments (comprising more than 5% of the charitls overall share portfolio
by value) at the balance sheet date were as foll¢)ws:
15-

EUSTACE HOOK & DRUMMONO MEMORIAL ALMSHOUSES
NOTES TO THE FINANICAL STATEMENTS CONTINUED
FOR THE YEAR ENDED 31 DECEMBER 2022
Market value
M&G Chanty Multi Asset Fund Accumulation Units
97,675
BlathRock Charities UN Equity Fund AAccumulation Units
56,833
BlackRock Charities UN Bond Fund AAccumulation Units
7,660
BlackRock Charities UN Equty Fund A Income
3,659
BlackRock Charities UN Bond Fund A Income
300
10. Debtors: amounts falling due within one year
2022
2021
Prepayments and accTued income
746
744
11. Creditors: amounts falling due within one year
2022
2021
Accruals and deferred Income
2.000
6,661
Creditors relate to accrued costs. mainly independent examiner's fees (2021.'audrt
fees) for the year, payable in the foll¢)wing year.
16-

EUSTACE HOOK & DRUMMOND MEMORIAL ALMSHOUSES
NOTES TO THE FINANICAL STATEMENTS CONTINUED
FOR THE YEAR ENDED 31 DECEMBER 2022
12. Deslgnated funds
The income funds of the chartty include the following designated funds which have
been set aside OLrt of the unrestricted funds by the trustees for Specific purpose5'.
Balance at
1 January
2022
Balance at
31 December
2022
New
designth-ons
Designations
released
Fixed asset
fund
7,124
(3,562)
3,562
Investment
fund
185.139
988
186,127
Other fund
30,390
(15,195)
15,195
202,653
988
(18.75n
184,884
Balance at
1 January
2021
Balance at
31 De￿mber
2021
New
designations
Designations
released
Fixed asset
fvnd
10,686
(3,562)
7,124
Investment
fund
145,019
20,120
165,139
other fund
45,586
(15,196)
30,390
201,291
20,120
{18,758)
202.653
Fixed asset fund - this fund holds the investment propety whi¢h is used as the main
premises of the Charity and for income generation.
Invesbnent fund - these funds are invested to maximise total retum and generate
income.
Other fund - these funds relate to a govemment grant first issued in 2004, vthich is
being written down ors a straight line basis to 31 December 2023.
The Fixed asset fund and Other fund are partly redesignated as Investment fund in line
wrth the deprecialion of fixed assets.
17-

EUSTACE HOOK & DRUMMOND MEMORIAL ALMSHOUSES
NOTES TO THE FINANICAL STATEMENTS CONTINUED
FOR THE YEAR ENDED 31 DECEMBER 2022
13. Analysis of net assets between funds
Unrestrlcted
Funds
2022
Unrestrlcted
Funds
2021
Fund balances at the reporting date are
represented by..
Tangible assets
18,757
37,514
Investments
166,127
165,139
Current assets
142,378
145,038
327,262
347,691
14. Flnanclal Instruments
2022
2021
Carying value of flnancial assets
Instruments measured at fair value through profit or loss
166,127
165,139
2022
2021
Carrylng value of financlal Ilabllltle8
Measured at amortised ¢J>St
2,491
6.661
16. Related party transactlons
There were no related party transactions durifvj 2022,. Note 6 explains the related
parties transaction in 2021.
18-