CATHERINE WALKER ALMSHOUSES FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST DECEMBER 2024 Ho(iyliig Corporalloii No.. A4430 Reglgteyert Charlty No: 230124
CATHERINE WALI<ER ALMSHOUSES CONYENrs PAGE Board ReFY)rt Independeiil Audllor's Re.Jx)rt 51atenieDt off Coiiiprehe.nslva InconiÈ Ilncluding Iome & Ex(ieiid1tu Account) Balance Slieel Stalem&nl of Cliaiiges In ReseNes N&$ lo the FliiatKlal Statements 8-12
CAT14ERfNE WALKERALMSHOUSÈS BOARD REPORT FOR THE YEAR ENDED 315T DECEMTIER 2024 es sol Houslng Assodilon and Charlw leglslaNDn requlre Trustees to prepare fina11dal Stètemehts for each ftnantlal year, vih.'ch glve a true aiyl falr eW ol th& slate of allalrs of the Charlty as at the end of t1 Nnènclal year and ol the surplus or deftol lor that port. Ir) preparlng the Flnaiiclal Statements, suitable accotsntliig pollcles have been ailDPted and conslgtÈF)1ty applled, lo the best ol the Trustees, kiiowledge bellef, by referen lo reasonable and prijdeiil ludgeiiieiils and esllmales. Appllcable accountliig standards Iiave beei) followed, Tha Trusleeg are pOlkI lor nialnlalnlng adequate arcounllng records, h. ufegiiardlno tlie 4sseks of the Cliarfty ali d for pfevei)tlng and dele£llng fraud and other Irreguladlles. Tre Twslee5 are also iequlred lo IndScate where th& natal Stat¢nieiits are wepjred olliEr than on Iha bdsls that di?rlty Is a golng concern. Tlie Trustees have had dup regard to th@ guldance publlsl)èd by the Charities Cornmlssloi) In ol publlc boneflt. ThÈ IfU51¥e5 pf 1118 Ctiailty reovlyrw revlew Ilitt CrIty s nnance5 to determine ihe Iiilnlmum amoiiiit of reseNes reqiilred for Iheday lo day n13Th)entQf the Cliarlly In orderlo provlde for Ihe ftitUY6. Anyamounts over ond above Ihls mlnlniuni ere hivesled bkck Into 11)e Charity Iii the furlheranTr ol Its oblectlve5 sel oul Iii Ils Scheme, The Charfty Is requlred lo work 14rtlliln Ihp parameters ol118 Scheme In respect ol Iiow aiid where11 can rea'ull new Trustccs. As part of the M¥nageiiienl Agreement b¥eell the Alm5htsu%p. and Green sqtsare Accord, of the se.Nlces GSA orowides Is advlce and support to ensure the Charl$ adherents to Ils ¢nii%lil(Itliiy TNSI Deed and SchemD. nils l(Kludg.s Iralnlftg and adn)Inlgtratlve 5UPPOrt In aptn7enI of new trnstees. The tharlly Is conslKuted under a sclieme dated 22 Dilober 1897, a scheme dated 22 Aprtl 1910 and 6 May 1925 as vartoj byorder dated 20 September 1935 and a scheme daled 4 QEtobgr 2004, The Cli3rlty'5 objects ale tl)e prnv151on ol houslng accomMoOn for ben8fltlailes such choiltablè purposes f(Y the re.51deDts as dia Iiustees declde, The Chartty owns SL% AlmshoiiÈes, s11al& at Buckw H0115e, Cartmel Hougè and, Ml*els drIdge. 'Tlie Cliarltylg registered wllh The a)3rlty Coniinlssloners for England and Wales (Niiniber., 230124), and with tlie Hoin& and ConiTrTrunltfes Agency {NuMber,' A44301. It Is g(Nenied by tno Chèilty thniiiilssloners foy England and Wales scheine dated 4 Oclokr 2004. Th8 day-lo-day nianègenieiit aiid adtnlnlstr4llon of the Alinshouse5 Is carrd out ty Green Square Accord Houslng Agsoclalion Llnilled and overseen by the Board who ftieel on a qiiarterly basls, Tlie &)ard con51sts of Ilie Trustees of the Chailty, The performants Df the Chartty Is as dlsclosed In the fl113llclal Statements on pages J-12. The Trustee5 Lonslder that the charlty Is In a soiind ftnfinclal pDsltlon at the year-eTrJ. tJlSCLOSURE OF INFORMATION TO AVDITORS Sn far a8 the Twstees fire iware there Is no relevant audlt Inlormatlon of Yihlth th8 charfty's audltors ale unawar8, and eacli Iruslee lias takeii all steps that he or she ought to have taken as a Trustee In order ID make 111nell or kne1[ aware ol any relevant audll Iiilorni£llon and lo eslobllsh that Ilie diarltysaudltors are aware of tllat Inforiiiallon The Trusteeg wh(} Iiave sery&J the Charlty durtiw Ilie year aiE as ft)Ilows'.- Mrs M Maln MI Charlotte Plolmes Ke1tli Sears Paul Pullerglll 11@v sf&p11É17 Dael Ms Paulliie WI117 For ai]d ¢)n behalf ofihe fioard Dèle Iq11112og(
CATHERENEWALKER ALMSHOUSES INDEPENDENT AUDITOR'S REPORr TOTHE BOARD OF CATHERINE WALKER ALMSHOUSES Wè Iiave audlted t1 finandal slaiemenls of Catherlne Walker Almshouses (the assc(l8tlon? fLY the year ended 31 Decembei. 2024 whlch coiiiprlse ola stateme.lit nf cOrnprehenve Inwme, 4 balance sheet and noves to Ilie fi118iiclal statements, Iricludlng a suniniary of glgnlflcant accounUn9 policles, Tb.e fi114ntial reportlng franiework thal lias bèen applled Iii thelr prepardllon 15 appllcablc Uiiiiert Klngdoni Acccrtjntlng standait15, Indudkny Flnanclal Repoiilng Slaiidard 102 file FlnandalReportlng St&nd8rd¢yppl/cib/e In UK nd Republlc ofJieland (Uiisfeit lQngd)tn Gp.neially Accepted Accoununo Pfactlcel, In our opli)ton the ftnancl41 stateNenls'. glve a Iruo aiid falr tdÈi¥ of the state ol the asscclttllon's gffalrs 8$ Jt 3J51 December 2024, arKI of Its IiiTrni1ng rèsources and appllcatlon ol rÈsourtei, Inclu(Iliig Its Inconie and expendlwre, for the year Iheii Iiave been properly prepared In accorthnce wllh Unlted Klngdom Gene.ralTy Atcepted AtCOLinllno Pracllce. and have been prepi< red In acc(>rdance th the requlremerits of the tharllles Act 2011, tlie Houslng ènd RegeiieraNon Att 20D8 ai)d Ihe Arcounllng Dlrecllon lor prlvale reglslereij provlders of soclal hoiislng Ill England 2022. Bhsl$ for tspiniom We coTh8ucled our audlt In accordaiKe wltl) Jnlernatlonal Standards on Audlllny (UK) IISAS IUKI) appll¢4lle law. Our respoiislblllUe under those standJrds are furtherd&cribed In the Aiidllor's re5ponslbllllle5 for ihe dudlt of the flnanclal siateineiits xllon ol our report, We are IIKlÈneiide.Iit cif the assoclallon In accor&nce wllh tne elhlc81 requlreni&.nts that are relevanl to oiir audlt of the financlal 5lalenients Iii the UK, IrdIng the FAC'S Ethlcal Standard, and Ive have fulfilled oiir other ethlcèl respoi)slb411Ues In accordBAtr 4Yllh Ihe5g requlren)enls. We bellÈve that thè audlt ovldeiic¢ we have oblalned Is sulfident anil approprlalp to provlde a Imsls lur oiir ophlon. Coneluslojis rglatlll9 to gu¥liig co#cei'rt Iii aud5tlw Ihe flrkinclal slalements, Ive hève concluded that tlia btrard's use of the goliig COtKwI) bas15 of accounting li) Ihe weparatton ol the flanal slatemenlslg appropylate. sf.d on the work we Iiave perfornied, we have not Identllled any Iiiaterfal unceitalntles re13tlny to events or conthtlohs that, Indlvtdiially or collecuvety, may cast slgnlficant doubt 011 t1 assodallon's ablllty to contlnuc as a golng coiicexn lor a of al least iwelva Trionlhs Ironi when the ftftanclal stalenienls are aut1¥[Zed for Issue, Oiir respoTrslblVUes and tl)e responslbllllles ol Ilip. board Fyllli re5peit lo oolng concerTr are descclbed In the relevbnl seciloiis of Ihls reporL otljer Iiiforinatioii oiher Inform8tloii conipiTse5 Ilie Iiifui'niatlon Included In the 3rd report, ouier than tlie niianclal 51aleii)ents and oiir audllor's report Ihereon. The b)ard are reSporbSlb For the other Inloriiiadoii conlaSned wlthli) the board rèport, aur oplnion on the finandal 51alements (Joes not cover the other Infdrnièllon snd, except to tlie extent ollieNl explldtyy slated In our report, we do not express 41)y form ol assur4n¢È conClon thereon. r re5pon51blliLy Is lo read the other Inforniallon and, In dolng so, ¢onslder whether the olher Informollon Is materlally lllconslstent wlth tlie ftn¢itKlal stateme.nts or oiii knovile&Jp obtaliie(I In the course of [le èudlt, or ouierwlse appears lo be i)111terlally mlsslfited. If wp l(lÈiitify such nlalt.rlal Iiiwn51stencles or Iipparenl TterIal nilsslatenienls, we are iequlred to delermliie vilietlier Ihls glves flse lu a nialei'lal Inlsstalement li) the flnancl?I statements Èhernselvo5. If, bB5ed the work vie have performed, Ive condiide Ihal Iliere Is a materlal misststei?ienl of t19 other Inlormallon, Ive reoiiired to report tlkt fact. We have noll)in9 to report Iii Ihls ieoard.
CATHERINE WALKER ALMSHOUSES INDEPENDFNT AUDJTOR'S REPORT TO THE BOARD OFCATHERINE WALKER ALMSHOUSES Maltays oil whlch w¢ nro Yeqiilr8d to r8lJOIt by ex¢eptlon We lTrave nothlng to report In respocr of tl)e lolloi¥lrig Inalters In relauon to whldi the Chartlles (Accounts aiid liewrts) Regula110115 2008 requlro us to rei)ort to you If, In our opliilon.. ie Informa0 glvei) IE) the fln&nclal statenients Is Inconslstent In any materlal respect wllh ItiÈ board re>rt,, or sufficleiil accoJnling recoids have iiol beEn kept,. oi thé INaliCIal stateinents are not In 3greeineiit wllh the occountlng recoids; or we Iiaye not re1v all the Inlormallon and oxplan8tloiis we reqiilre forour alt. Iii addlllon, sve have nolhin9 to re)rt In r?.spNct of Ilie lollowlno maltei ivlier¢ tlie Floung aiid R¢gene¥allon Ael 2008 requlros us to report to you if, In our opliibn.. satlslaclory of contrd over transactlon5 hd5 not been M81ntalne. Respoiislbllltles or the boJr¢l explaliiÉtt Inorè fully Iii Ili¢ boerd's responslbllltles slalenienl Iset out on page 11, the board n)ernber6 Iwho arc &lso ttie Irustees off tlie assoclallon for 11)e pvrposes of chartty lawl are responslble for the preparallon of the ftntindal ttalpinp.nls Bnd for belng satlsfled that they true ond lalr ew, Ind for such Internal control as tlie board de.tg.rmlne 15 necessary trj enable the preparallon of nnanclal stat¢iiwnls U)al are flee Irom nTral¢rial DIls51atemenl, ivlielher due tt5 fraiid or error. In preparln9 the flnanckl stèlemÈnls, the board Is responslble forassesslng the l55oclaifoii's ablllty to conllrtrue as ? goliig concern, d15doslng1 as appllcable, matters Yel8led lo yOln9 concern and iislng ilTre goino conrn bèsls of accounllng unless tlie board ellher Intends to Ilquldate Ili& assoclailon or to cease operatlons, or hai no reallsuc 8lLernalWo bul to do $0. Aiidltpr'$ re9poii$lblllllos for tlie oiidit oltliB fliiHnclal gtHtomenls Our ablp.cUves are to oblakn ieasoftablè asirance abolit wliether th8 flnanclal $14teniehts as a wliole are free from niaterlal mls%latenient, whellier cliie lo fr4ud or eiror, BIKI lo Issue ali audltor's report lthl Incliidos oiir oiilnloii. fteasoiiible aggurancelg 8 Iilgh level ol assuraiice, bill Is not a g1iarafie tIt an audlt conducled In accordanct wlth fsAs (UK) wlll 8lvi3ys detect a Trialedal n)Isstatement when 11 exists. Mlsslatenienls can arlse froill frau(S or eiror and are consldered i¥atèMal 11, Iiidlyldiially or In tha aggyegata, they o)ul(I reas¢ablY be expected lo Iiifluence Ilie econ0nilcdoc1ons of urs taken on the b6sls ol these fliihndal slaEp.iiienls, We hDve been app1È 85 aiidllor under secllon 1441 of the Cliarllle$ kt 2011 and secllon 136 of the Housliig and Iiegentsratbn Act 2008 and report In accordance lvlll) reg4Jla119ns Ill1e uiider sectlon 154 of the Chaillles Act 2011 and secuon l37 01 the Houslng aiid Regener8llon Act ?00. 'rhe 5peafic procedures for tlils engageinent èii<J the exlenl to vihlcli ihese are c8pable of delectiiio IriEgul)rlUes, Intludlng fraud Is detalled beloiv: In Id?nllfy4ng and a5sesslng rt5ks ol Inaterlal mlgstalenient In rÈ2PÉet of Irre9atIes, Includlno fraud aiid non-conipllanr.e WIU) laiy5 and regulatloi)s, we consldered Ilie foll.. the n3lure gf the se(tor, coi)Irol eniiyonnient ynd buslnpss perforni3iice,' enqulrtes ol IhoThagefflenl about thelr Identlficallon and cissessmeiit ol the risks ol Irregularltles,. any Illblters we Ideiillfted havliig rerteived the assrKI?lions prOdre$ for coinplylny with Ihws aj reyJlilion5 , and wlielher they were aware ol ony Ii)slances ol non-coinpllbnce, and any 4clual, suspette.d Or allegoj fr¢iud. The key laws aiid iegul8tloiis we consldered In Ihls context Included the Charllle5 Act 2011, and Ihp Hrtiisln9 and Regenerallon Act 2008. OUT piffe{reS to respond lo rlsks Idenllfted Incliided Ihe follow1.,
CATHERINE WALKeRAIM$HOUSE$ INt)EPENDENT AVDITOR'S REPORT TOTHE EIOARD OF CATHERINE WALKER ALMSHOUSES reWvNln(J the flnandal statremp.nt dlsr.losi)rÈs and tesllng to supporllng dLKtimentatlon,' eRqulrlng tsl nianagenient conwiiliig tell(la1 Illlgatron and daln)s; performliig 8nalytlL'al produreS to Idenllfy any UnVsu8 or unexpetted rektlonshlp$ ilwr may Indlcate rlsks of malerlal m15slalement due lo ffaud,. test1 ihe approprlateness ol journal entrles and other adjustn1Ls, asse551ng whellier arcoyiitln9 esUmate5 s¥ere Iiidlcatlve of a PDlentlal blas, anc5 evalvayng any slgnlflcint tran(u011$ that were UIIU5ual or ¢81e Ihe normal course ol buslne55, We also refflalned alert lo any Indlcallons of fraud or non-compllanTr wllh laws and regulallons throughout the audll. Eecause ol the Inhe11111?Ital1olIs ol ai) audll, there Is a rlsk that we vdll not detect all lyregularlbes, Includln9 IIiosB leading to a malertal mls518renient In thé flnancl81 slateinents or I)1-ComPlI8ntt vjllh reoiilallon. nils rfsk In¢reiises the mow Ihal CDmpllance wllh a laiv or reoulallon 1% re.moved froni I ¢vents and trai1CtIonS reflected In t1 nnaiiclal stat&menls, as we wlll be less Ilkely to become 4ware ol l#sl¢inces of noii-conipllarKe, The rlsk Is also orealer reuardlng Irregularllles occurrtng due lo travo ratlier Ihaft error, as Iravd k)volves jnlenl1eI ¢oncealnienl, forgeryi colluslon, oiiilsslpn or mlsrepresenlauon. A further de5cdpllon ol our reswn51bllltles Is avallable on the Flnanclal ReForUftg Coiiiidfs webslte. Tlils descrlptlon forms parl ol our aiidltor's report. Th15 report 15 made 5¢4ely to the asso(laVon's b08rd, 05 a bv, In &tcordan¢e wllh Parl 4 of tlie CliaHNes (Accounls aiid Rep)rts) Regutsdoiis 2008 ènd secdoii 137 of Ilie 14ousliig ¥ntJ Regenerè(lon Act 2008. Our aud',t iyork has been IinderlakÉi) so that we mlght slate lo the ègsotlatlon's board UIc15e Inalters we are requlred to slate to thÈni IM an audllor's report aiitl for no ott)er piirpose, 'fo the fullest 6Xtent permltied by law, we do not accept or assuihts re5Foiislblllty to aiiyonp athe.r thai) the assocladon and tlie assc(Patk>n 5 board Is a kndy, for our aLidlt work, for th15 report, or for the (plnlons we have foift)ed. DJH Audlt Llmlte.d Stahitoiy Audltor Church Cwrt Slourbrldge Road 14alesoiven Wesl Mldland5 863 YF(' Date
CATMEniNE WALKER ALMSHOVSES Stateiiieiit of Coinprelieiislvg Xiicaihe (Incliidliiu Iiicome aiid Exp8iidlture Accoiiiit) for tho ye¢ll' elided 31st D¢cemlJer 2024 Note 2024 2023 Turiiovar 33,33 33,830 Operailiig Costs: Naiiageiiient SeNlces Malntenaiice Dep,'eclatlon Ihcliidlng loss on dlspo531 (10,3421 (6,3341 14,9311 (9,8501 15,7751 (1,3841 1&&5fiJ Oparatliig Surpliis 6,644 12,165 Interest Rece&ble and Other Tiicome Interest Payable aiid Slnillar Charges Movement on lalr value ol InvEslnieiit5 1,012 12A>751 1,362 (2,3081 Siiyplus on oi'dliittry A¢tlvltlo$ bofore tttxation 5,731 11,294 Ta¥ on surplu4 SuriJliisl(Qeflcit) fot the yeoi. 73 Total ComyrolionslvE Xi)come for tl)È yokr )e Finanelal Statements were approved by the Trustees and SIed on behalf OF the **riJ by.. Trusteo Yru$t¢e Date
CATHERINE WALI
CATHERINE WALKER ALfvISHOUSES 5tatoniont of Clianges 011 Res¢rv45 For tlie Yoai. Iiiidgd 31st Deceinber 2024 Note Rovaliiatlon ReseNe Total Reserve At l Jg#11#ry 2023 Total CprehenSIVe Iiicomp. for 2023 At 31 Deceinb&i' 2023 Total Comwehenslve IncoFne foi 2024 At JI O&ceiiib61' 2024 5] ZIL 35
CATHERINE WALI
CATFIERINC WALKER ALMSHOUSES NOTES TO THE FINANCIAL sfATEMENTS FOR THE YEAR ENDED 31ST DECEMfsER 2024 (el Investimeiits Inve51nienis are siat¢d at la1r valuÈ, belny markel value at the balance sheet date, If) Pioi)erty Xinpi't)veMeiits Ihe Trv$lees have eslablishefJ a regular wogyamme of cycllcal repalrs and malnten411ce, If lIprOVementS to properNes are ¥4iorks, whlch rcsultr In all Iiicrease Iii the i)et reiital Inconie, as a reducttoii In future Inalnteiiince costs, or result In a slgnlflcaiit @xlÈnlon OF Ilie useful econonilc Ille of the property In Ilie bu51ness. All other major repalrs expendllure Is charged lo dip lnr.omp aiid expnditiirè aCcout for Ilie ye8r. Value Added Tax Qlherlne Walker A11115houses Is nol re9lstered for Value Added Tax, In these Flnanclal Slateimenls, where appllcable, expendlture15 Shovin In¢luslve of VAT. (lil cash Fluw St4teiiieiit Under I'.RS 102, the Chartly Is not requlred to produce a Flow SlJtemeftl, (g) 2. TRUSTEES INOLVMENT5 TtlÈ Dlre(lors are deflned as the Trustees. NonÈ ol the TIu5tees recelved any Ènioluments Iii tlie currèiit r PreIng years. 3, EMPLOYEE INFORMATION The Charlw employs no slaff. 4, TURNOVER 2024 2023 Ronl SeivlcÉ Chargg. l.ess'. Bad Debt Aniorlis)Ilon of Government Grants 31,927 29,429 2,132 4,704 (1,8181 11,418) 145 3IQ3Q 5. INTEREST RECEIVABLF AND OTHER INCOME ?.024 2023 Bank Iiitere5t Iiivestiiienl Illconie 1,012 1,362 6. INTEREST PAYABLE AND SIMILAR CHAIiGES 2024 2023 Houslng Loan Interest Y. SURPLUS ON ORDINARY ACTIVITIES BEFORE TAXATZON 2024 2023 Thls Is slated altei. charglng., Audllors R&.niunerallon Ilncludlng VATI In Ihelr capadty as AudItS L121
ATHERYNE WALKER ALMSHOUSES NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST 0CEMBFR 2Q24 6, TAXATXON Catherlne W2lker Atmsh4Juse8 Is a reglstered Chartty and Is, ttierefore, exempl from lknblllty to taxallon on Its Inconie and Capltal 9alns, g. PIXED ASSETS 2023 HOUSING LAND AND BUILDINGS- Fr8eliold Cost As at 315t DÉmber 2023 Addlllons In year Dlsposals11i year 536,147 532,123 4,024 1,357 at 3151 Defftber ?.0?4 DopreclatTon at 3LSt December 2023 Cl?aYoed In yÉar DIsp05ed In yea 98,744 4,841 I,iiJ 94,088 4,656 As al 3151 December 2024 Not Book Valu¢ At begliinln(J ol year At erKI of year land wlth an eslliiiated cosl ol £l?1,5GO Is not deprected. IQ. INVRSTMKNTS 2024 2023 otlidr Iii¥estTiio1115 At VJluaWoii'. NAA Comnion Iiiveginient Fund As at 3151 Deceiiiber 2023 RevaluJllon As at Ilsl Dcmbe1. 2024 4,400 15 At Cost TDtal At beolrinlnu of yeAr At end of year 4,475 4,400 AI C05t io
CATHERfNk WALKERALM5HOUSES NOTllS TO THE FINAMCEAL STATEMENTS FOR THCYFAR ENDED 31sr DECEM3ER 2024 11, Debtors 20?A 2023 RentArrears Provlsloii lor Bad Debts Pfftpayrnenls and Ac£rued Incom8 Siiiidry Debtors 1,652 (1,41f31 292 866 I?.. CREDITORS: Ailloiiiits f•lllnu diie wllhln oiie 202.4 2023 Trade Creoltors Rent prepaynients Houslng L9 Accruals Gtsveinilleiit Grants 3,974 5,L94 11,695 772 4,949 S,440 13. CREDITORS: Aillouiitg fèllliio d(iÉ ufter niore thali 0116 year 2024 2023 Government Grants Hou&ng Loan5 101,287 102,60? 14, SECURED LTA8XLITIES 2024 ?.023 Hovslng Li)an5 The hOUn9 loan15 *(xJretJ by a legal charge on tlie freehold property. Il Is RepayaNe by 31$1 M3rdi 2031, by Inslalment5 at a late of 0,45Vo above base rate. li(wsli)g108n lalllng due after niore Ilian one year falls due as follows',- 2024 2023 Between one arid Iwo years Beiween iwo and flve yeais Afier Iiioro thèii flve years 5,452 18,028 J191 5,194 17,178 li
CATHERINE WALKERALMSHOUSES NOTESTO THE FINANCAALSTATEMENYS FOR THE YEAR ENDED 31ST DPCEMDER 2024 15. REVENUE RESERVES 2024 2023 8rought lomard Defldl f(w the ye4r Al 3J£4 December 2024 338,8B8 Included wllhln the R¢venuÈ Reseives a an)ounts ottglnally from the revaliiauoii ol Investments In current and eartler years a5 ftsllovjs,, Totwl At 1st January 2024 Inveslmeiit Revaluallon 4,475 At 31tst Dernber 2024 62 16. ACCOMMODIITION Thè tharlty managed 6 unlts of houlno for older reople, throuthoul the perlod. 12