SIR E D WALKER TRUST
TRUSTEES, REPORT AND ACCOUNTS
FOR THE YEAR ENDED
31 MARCH 2024
CHARITY REGISTRATION NUMBER.. 230359
REGULATOR OF SOCIAL HOUSING REGISTRATION NUMBER.. AOS65

SIR E D WALKER TRUST
CONTENTS
Page
TfU8tees' Annual Report
1103
Ac¢ountant¥' Rgport
Statgmgnt of Comprohen8lve Income
Statomont of Flnanclal Posltlon
Statamant of Changès In R688fVéS
Statèment of Cash Flow•
Notes to the Flnanclal Statements
91012

SIR E D WALKER TRUST
TRUSTEES. ANNUAL REPORT
31 MARCH 2024
Status:
Sir E D Walker Trust is a registered chanty. number 230359, fomied by the will of the
late Sir E D Walkef who died in 1919. The Trust is registered with the Regulator of
soc￿1 Housing registration number A0565.
Prlntlpal addrn•s:
Sir E D Walker Homes
Conisclrffe Road
Oarlington
Co Durham
DL3 8DF
Trustee:
Sir E D Walker Trustee
DlroCtor¥ & Trust•os of Slr E D Walkor Tru$tO0
Mr A MaCConaCh￿ 08E
Mrs A J Little
Mr S P T Bainbridge
Mis B Brown
Dr J Gordon - o$igned May 2024
Ms J Middlelc
Mr T G Dabb5
Or A C Price
Mrs C Sunley
Ms A J Hopkins
On 25 April 2017 the Iruslees resigned from the board and became directors and
Iruslees of Sir E D Walker Trvslee. registered company number 10501084. On the
same dale Sir E D Walker Tnjslee became the sole Iruslee of Sir E D Walker Trust.
The Trust's profo¥slonal advlsorn are as follows:
Roportlng Accountants:
Clive Owen LLP
Chartered Accountan15
140 Conisdsffe Road
Dartinglon
Co Durham
DL3 7RT
Bankers:
The Cooperatsve Bank
29 High Sireel
Durham
DH13PL
Solicitorn-
Wrigleys
19 Cookridge Sl.
Leeds
LS2 3AG
Investment Advlsors-
Brewin Dolphin Investment Management
Time Central
Gallowgale
Newcasile upon Tyne
NE1 4SR
Charlty obj•ctives:
The Charity's objectives are lo eontinue to maintain the provision of high standard
almshouses for the needy people of Oadington.
Page 1

SIR E D WALKER TRUST
TRUSTEES. ANNUAL REPORT
31 MARCH 2024
Activities, achievements. and review
The Trust continues lo ernerge out of the Pandemic,. the empty bungalows have been renovated whtch has
resLJlted in both an increase in income as well as an increase in costs. As a result. the operating surplus al
£4,534 was comparable lo the prior year1£3.9581. However. the investments performed well In the year with a
positive movement in year of £22,940 compared to a fall in value of £27.273 in the prior year.
Overall, the Tnjsl showed a nel surplus for the year of £36.55512023.' deficil of £15,491 } as sel out in the
Sialemenl of Comwehensive IrKxMne on page 5.
Public Benefit
The Trustees have reviewed the Charity Commission's guidance on the requirement to report on publi
benefit. They are satisfied that the work of the Charty. as described in the Charity Objectives, accords with ils
slated objects, and provides tangible public benefit lo a wide section of those who reside within the Charity's
areas of benefit.. the criteria used to assess those who may benefit is not unreasonably reslriclive.
Reserves
Income and expendilure reserves are held lo enable the maintenar￿e and updating of bungalows and, to
enable the Trust lo update service inslallalions. The tot￿ of these reserves held al the year*nd was
£1,225,47912023.. £1.189,6441.
The Exlraofdinary Repair Reserve stand5 al £53.46012023.. £48,600). This afflounl wll continue lo be
reviewed on a biannual basis al meelings of Sif ED Walker Trustee.
Investment policy
The Investment Advisors are instructed lo invest al Risk Level 5 which is looking lo maintain the real value of
the investments whilst achieving returns above inflation and as such, the porttolio will be more evenly
balanced betsveen equities and the combined asset dasses of cash, fixed interest, and allernalives.
Structure, Govemance and Managernent
The Charity is an unincorporated trust constituted under a trust scheme dated 18 November 1997 and is a
registered charity. number 230359, fcKmed by the will of the late Sir E D Walker who died in 1919.
Trustees are recruited, when necessary. by continuing trustees. New trustees are given appropriate induction
and ongoing training to allow them to perform their duties effectively and fulfil their obligations. The Trustees
agree the broad strategy and areas of activity of the chartty i￿lUding consideration of investment. reserves
and risk management pol￿e$ and perforfflan￿.
Trustees. responsibilities
Under registered social housing legislation, the trustees are required lo prepare a statement of account for
each financial year which gives a true and fair view of the stale of affairs of the Trust al the end of the year
and of ils surplus or deficit in the year. In preparing the statement. the trustees are required lo:
select suitable accounting wlicies and apply them consislenlly.
make judgements and eslimales that are reasonable and prudent.
slate whether applicable accounting standards and statements of recommended practice have been
followed, subject lo any material departures disdosed and explained in the stalemenl of accounts.
prepare the financial statements on the going concern basis unless il is inappropriate to presume that
the Trust will continue tts operations.
Page 2

SIR E D WALKER TRUST
TRUSTEES, ANNUAL REPORT
31 MARCH 2024
Tru¥tfju' rg¥ponsibilities {continuedl
The Iruslees are responsible for keeping proper accounting records which disclose with reasonable accuracy
al any lime the financial position of the Trust al that lime and to enable the Trustees lo ensure that any
slalemenl of account prepared by them complies wilh the Housing and Regeneration Act 2008 and the
Accounting Direction for private regislered providers of social housing in England 2015. They are also
responsible for safeguarding the assets of the Charbty and hence for iaking reasonable steps for the
prevention and detection of fraud and other irregularities.
The Iruslees also are expected lo maintain sound system$ of internal conlrd and to review them annually.
SIgn￿ on bèhalf of the Trusto•s:
Mrs C Sunloy
Mr AC Prlce
26 Sapt•m￿r 2024
Page 3

ACCOUNTANTS. REPORT TO THE TRUSTEES ON THE
UNAUDITED ACCOUNTS OF SIR E D WALKER TRUST
We report on the accounts for the year ended 31 March 2024 sel out on pages 5 to 12.
Rèspoctive responslbllltlès of trustees and reporting accountants
The Trustees of Sir E D Walker Trust are responsible for the preparation of the accounts, and they consider
that Sir E D Walker Trust is exempl from an audit. 11 is our responsibility lo carry out procedures designed to
enable us lo report our opinion.
Basls of oplnlon
Our procedures consisted of comparing the accounts with th8 accounting records kept by the Registered
Social Housing Provider and making such enquiries of the officers of the Sir E O Walker Trust as we
considered necessary for the purposes of this report. These procedures provide the orsly assurance
expressed in our opinion.
Oplnlon
In our opinlon..
the accounts lor the year ended 31 March 2024 are in accordance with the accounting records kept by
Sir E D Walker Trust under paragraph 13512llal of the Housing and Regeneration Act 2008,.
having regard only lo, and on the basis of the inlormalion contained in the accounting records..
the accounts comply with the requirements of the Charities Act 2011..
the Registered Social Housing Provider has satisfied th8 conditions for exemption from an au(Jil of
the aecounls for the year ended 31 March 2024 specified in section 136131 of the Housing and
Regeneration Act 2008,. and
the accounts comply with the rèquirernenls of the Housing and Regeneration Act 2008 and the
Accounting Direelion for private registered providers of social housing in England 2019.
o_
Cllve Owen LLP
Reportlng Accountants
Chartered Accountants
140 Coniscllffe Road
Darlington
Co Durham
DL3 7RT
26 September 2024
Page 4

SIR E D WALKER TRUST
STATEMENT OF COMPREHENSIVE INCOME
FOR THE YEAR ENDED 31 MARCH 2024
Notos
2024
2023
Turnover
280.141
251.549
Operating expenditu
1275.606
1247,5911
Operating 5urplu$
4.535
3,958
Inv851menl Income
9.080
7,824
Inleresl and financing costs
Movement in fair value of financial instruments
22,940
127,273
Tol81 comprehensive surplus I (def￿11) for the year
36,555
115,4911
Bfoughl lo￿ard Income and Experyjilure Reserve
1,189,644
1.200,995
Transfer from Extraordinary Repair Reserve
14,8601
Transfer from Revaluation Reserwe
4,140
4,140
Carried fornvard Income and Expenditure Reserve
£ 1,225,479 £ 1,189,644
These accounts were approved and aulhorised for issue by the Trustees on 26 September 2024 and are
signed on their behalf by..
Mrs C Sunley
Mr AC Prlce
The notes on pages 9 10 12 fcffli pwt of these accounts.
Page 5

SIR E D WALKER TRUST
STATEMENT OF FINANCIAL POSITION
AS AT 31 MARCH 2024
Notes
2024
2023
Flxed assets
Tangible fixed as5els
Investments
1,250.694
305,737
1,237,737
289,469
1,556,431
1,527,206
Current assets
Trade and other debtors
Cash and ¢a$h equivalents
5,257
349,057
7,322
340,688
Creditors.. amounts falling due
within one year
10
111,3731
112,399
Not curr•nt aS$Ot$
342,941
335,611
Total ass•ts1•88 CUfr•nt 1SabSlltlo8
1,899.372
1,862.817
Total Det assets
1,899,372
1,862,817
Resorv61
Income and Expenditure ReseNe
Extraordinary Repair Reserve
Revaluation Reserve
1,225.479
53.460
620.433
1, 189.644
48.600
624.573
£ 1,899,372
£ 1,862,817
IEa&Z•ZZ
These accounts were approved and aulhorised for issue by the Tnjslees on 26 September 2024 and are
signed on their behalf by..
Mrs C Sunley
Mr AC Prlce
The notes on pages 9 10 12 form part of these acrounls.
Page 6

SIR E D WALKER TRUST
STATEMENT OF CHANGES IN RESERVES
FOR THE YEAR ENDED 31 MARCH 2024
Income and Extraordinary
Expenditure
Rgpair
Reserve
Rgsorve
Rgvaluation
Reservo
Total
Reserves
As at 1 April 2023
1,189,644
48,600
624,573
1,862,817
Surp￿us from Sialement of
Comprehensive Income
36,555
36,555
Transfer
{7201
4,860
14,1401
As at 31 March 2024
£ 1,225,479
53,460
£ 620,433
£ 1.899,372
Page 7

SIR E D WALKER TRUST
STATEMENT OF CASH FLOWS
AS AT 31 MARCH 2024
2024
2023
Net Cash generated from operating activities
Iseo Note 1)
40,065
31.620
Cash flow from Investing activitigs
Purchase of tangible fixed assets
Purchase of Investments
Sale of investments
138,368)
136,0881
42,760
{27,096
126,003}
25,133
Net change In cash and Cash equivalents
8.369
3,654
Cash and cash equivalents at beginning of the year
340.688
337,034
Cash and cash equivalents at end of year
£ 349.057
£ 340,688
Note 1
Cash flow from operating activities
SLJrplus I IDeficitl for the year
Unrealised Igainl I loss in market value of investments
Depreciation charge
Loss on sale of fixed asset investments
Decrease I lincreasel in trade and other debtors
(Decrease) l increase in trade and other creditors
36,55S
123,3871
25,411
447
2,065
11,0261
115.4911
24,291
21,835
2,963
13,4731
1,495
Cash generated from operations
£ 40,065
£ 31,620
Page 8

SIR E D WALKER TRUST
NOTES TO THE ACCOUNTS
FOR THE YEAR ENDED 31 MARCH 2024
1 Legislativ8 Framework
The Trust is registered as a charity under the provisions of the Charities Act 2011 and is a Registered
Social Housing Provider.
2 Basls of accounting
The financial slalemenls have been prepared in accordance with The Financial Reporting Standard 102
the applicable reporting standard in the United Kingdom and Republic of Ireland IFRS1021, the Slalement
of Recommended Practice". Accounting by Registered Social Housing Providers120181 and with the
Accounting Direction for private registered providers of social housing in England 2019. The accounts are
prepared in accordance with the historical cost basis of accounting except as modrfied by the revaluation
of investments and certain fixed assets. The Trust is a public benefit enlily under FRS102.
3 Accounting policies
The following accounting policies have been used consistently in dealing with items which are considered
material in relation lo the Charity's financial slalemenls.
Housing Propertles
Housing Properties are recorded at the figure at which they were revalued in 2017.
Depreciation
Depreciation is charged al the following rates.. Land
no depreciation
Buildings
2010 straight line
Plant & Equipment- 25,/0 and 12.5Q/o slraighl line
Fixtures & Fillings
250/0 slraighl line
CompLJler equipment _ 33.330/0 slraighl line
Turnover
Turnover is represented by contributions receivable from the licerisees of the almshouses, renial income
and donations and legacies.
Investment income
Investment income is re￿gnised in the accounts when Il is received.
Investmonts
Quoted investments are valued al the mid-market price at the close of business al the year end. Unitised
inveslmenls are valued al the average of the bid and offer prices or, if the bid price is not available, by
adjuslmenl lo the offer price.
Pension costs
A defined contribution pension scheme is in operation and the pension charge represents the amounts
payable to the fund in respect of the year.
Valuo Added Tax
As the majority of Sir E D Walker Trust's activities are classified as exempl or non-business activities for
the purposes of value added lax, Sir E D Walker Trust is not VAT registered and so is unable lo reclaim
the VAT which il suffers on ils purchases. Expenditure in these financial slalements is therefore show
inclusive of VAT.
Extraordinary Repair Reservo
This is a designated fund sel up lo allow the Charity lo continue in the event of something occurring which
is out of the ordinary course of business. In essence. the reserve is there lo cover the short-lerm costs
and allow the Charity lo continue lo operate should such an event occur. Some of these costs may
ultimately be recovered through insurance. The reserve calculation is based upon such an event.
Page 9

SIR E D WALKER TRUST
NOTES TO THE ACCOUNTS
FOR THE YEAR ENDED 31 MARCH 2024
4 Turnover
2024
2023
Turnover is derived from..
Contributions
Rental income
264,121
16,020
235,529
16,020
280,141
251,549
Voids for the year amounted lo
56,754
64,349
5 Investment Income
2024
2023
Dividends received
Interest received
7,518
1,562
7,516
308
9,080
7,824
6 Staff ¢o$t$
Staff costs were as follows..
2024
2023
Wages and salaries
Pension costs
62,331
1,874
58,141
1,675
64,205
59,816
The average number of full-lime equivalent staff employed by the Charity was as follows:
Adminislralion
Warden support
Eslale
Page 10

SIR E D WALKER TRUST
NOTES TO THE ACCOUNTS
FOR THE YEAR ENDED 31 MARCH 2024
6 Staff costs Icontinuedl
The average number of staff by headcounl employed by the charity was as follows..
Adminislralion
Warden support
Eslale
The total remuneration in respect of key management personnel was £nil12023'. £nlll.
The number of employees earning more than £60,000 was nil12023'. nill.
7 Tanglblo Flxod Assets
Plant and
Equlpment
Housln9
PTopertl•$
Total
Cost I r•valuatlon:
As al 31 March 2023
Additions
DisP05a18
60,615
38,368
1,250,000
1,310,615
38,368
As at 31 March 2024
£ 98,983
£ 1,250,000
£ 1,348,983
Doproclatlon:
A5 al 31 March 2023
Charge for the year
23,678
9,011
49,200
16,400
72.878
25.411
As a131 March 2024
£ 32,689
65,600
£ 98,289
Ngt book value..
At 31 March 2024
66.294
£ 1.184.400
£ 1,250,694
Al 31 March 2023
36,937
£ 1,200,800
£ 1,237,737
Housing Properties were valued based on the existing use, occupation, and covenants on 3 Augvsl 2017 by
the Board, supported by a chartered surveyor. The land and building conlenl of the valuation was £430,000
and £820,000 respectively.
If the Housing Properties had not been revalued, they would have been included in the Balance Sheet al the
following historical cost- 2024.. £613,00712023.. £613,007).
Page 11

SIR E D WALKER TRUST
NOTES TO THE ACCOUNTS
FOR THE YEAR ENDED 31 MARCH 2024
8 Investments
2024
2023
UK based Investments Ilistgdl
Market value at 1 April 2023
Additions
Equalisalions and adjuslmenls
Disposals al cost (proceeds £43,124, realised loss £4471
Unrealised Profil I Ilossl in market value
289,469
36,088
364
143,5711
23,387
315,853
26,003
19
128,1151
124,2911
Market value al 31 March 2024
£ 305,737
£ 289.469
Historical cost at 31 March 2024
£ 277,806
£ 285,562
9 Debtors
2024
2023
Other debtors
5,257
7,322
£ 5,257
£ 7,322
10 Creditors: amounts falling due within one year
2024
2023
Creditors and accnjals
11.373
12,399
£ 11,373
£ 12,399
11 Taxation
All of the Charity's income is applied for charitable purposes and therefore the Charity is exempt from
taxation.
12 Remungration to reporting accountants
The total paid lo the reporting accounlanls by the Charity related lo the following services..
2024
2023
Accountants, report
£ 2.220
£ 2,094
13 Accommodatlon under management
The Trust has 55 units for general needs housing. A further unil is provided for accommodation for the
Manager al the going rate. The Trust also owns two units of non-social housing stock which are rented on
the open market as private dwellings.
Page 12

Appendix 1
SIR E D WALKER TRUST
INCOME ANO EXPENDITURE ACCOUNT
FOR THE YEAR ENDED 31 MARCH 2024
2024
2023
Income
Contributions
Rental income
264,121
16,020
235,529
16,020
280,141
251.549
Loss overheads
Salaries and wages
Pension scheme contributions
Mobile warden
Telephone
Grounds
Council lax and water rates
Heating and Iighling
Repairs and renewal$
Borehole invesligalion
Insurance
Sundries
Warden call system
Legal and professional fees
Bookkeeping el¢.
Reporting accounlanls. remuneration
Depreciation
62.331
1.874
19.503
1,651
6.360
28,946
42.188
50,438
58,141
1,675
15,620
1,4S1
10,020
20,680
38,667
29,904
16,362
s,986
14,571
2,478
6,184
1,923
2,094
21,835
6,581
20,582
2,478
3,101
1,942
2,220
25,411
275,606
247,591
Not operatlng surplus for the year
4.535
3,958
Other incom•
Bank deposit interest
Dividends
1.562
7,518
308
7,516
9.080
7,824
Othar Expans•s
Loss on sale of fixed asset investments
14471
{2,9821
Nèt surplus for th• year
Change in market value of inveslmenls
13,168
23,387
8,800
124,2911
Overall surplus I Ilossl for the year
£ 36,555
£ 115,491
This page does not form part oflhe Statutory Accounts.