SIR E D WALKER TRUST
TRUSTEES, REPORT AND ACCOUNTS
FOR THE YEAR ENDED
31 MARCH 2025
CHARITY REGISTRATION NUMBER.. 230359
REGULATOR OF SOCIAL HOUSING REGISTRATION NUMBER: A0565

SIR E D WALKER TRUST
CONTENTS
Page
Trustees. Annual Report
1103
Accountants, Report
Stat8ment of Comprehensive Income
Statement of Flnan¢ial Po$ition
Statement of Changes In R￿vI•S
Statement of Cash Flow&
Notes to the Financial Statements
9t0 12

SIR E D WALKER TRUST
TRUSTEES, ANNUAL REPORT
31 MARCH 2025
Statu$:
Sir E D Walker Trust 15 a registered charty. number 230359, formed by the will of the
late Sir E D Walker who died in 1919. The Trust is registered with the Regulator of
Social Hou51ng registration number A0565.
Prin¢lpal address..
Sir E D Walker Homes
Coniscliffe Road
Darlington
Co Durham
DL3 8DF
Trustee..
Sir E D Walker Trustee
Directorn & Trustees of Slr E D Walker Trustee
Dr A C Price- Chairman
Mr A Macconachie OBE- resigned 25th December 2024
Mrs A J Little
Mr S P T Bainbridge
Mrs B M Brown
Dr J Gordon- resigned 151n May 2024
Ms J Middleton
Mr T G Dabbs- resigned 11th October 2024
Mrs C J Sunley
Ms A J Hopkins
Mr J A Holliday- appointed 111h March 2025
On 25 April 2017 the trustees resigned from the board and became directors and
trustees of Sir E D Walker Trustee, registered company number 10501084. On the
same date Sir E D Walker Trustee became the sole trustee of Sir E D Walker Trust.
The Trust's prof•$$lonal advlsors are as follows:
Reporting Accountants:
Clive Owen LLP
Chartered Accounlonls
140 Coniscliffe Road
Darlinglon
CD Durham
DL3 7RT
Banke￿..
The Cooperative Bank
29 High Street
Durham
DH1 3PL
Solicitors-
Wrigleys
3 Wellington Place
Leeds
LS14AP
Investment Advi$oTS-
Brewin Dolphin Investment Management
Time Central
Gallowgale
Newcastle upon Tyne
NE1 4SR
Charity objectives-
The Chartty's objectives are to continue lo maintain the provision of high standard
almshouses for the needy people of Darlington.
Page 1

SIR E D WALKER TRUST
TRUSTEES, ANNUAL REPORT
31 MARCH 2025
Activities, achievements, and rnvS•w
The empty bungalows were renovated during the ygar leading lo an increase in income. However, the cost of
renovating the bungabws significantly outyveighed the increased rental income resulting in an Operating
Deficit of £63,025, compared lo last year's Sufplus of £4,535.
The increase in other income of £36.224 was offsot to an extent by the unrealised loss in market value of the
investments portfolio 01 £18,87412024.' increase in value of £23,387), resultin9 in the Trust showing overall a
net deficit lor the year of £36,59512024.' surplus of £36,555) as sel out in the Statement of Comprehensive
Income on page S.
Publlc 8on¢flt
The Trustees have reviewed the Charity Commission's guidance on the requirement lo report on public
benefit. They are satisfied that the work of the Charity, as described in the Charity objectives. aecords with 118
staled tsbjecls, and provides tangible public benefit lo a wide section of those who reside within the Charity's
afeas ol benefil.. the crrteria used to as508s those who may benefit is not unreasonably restrictive.
Income and expenditure reserves are held to enable the maintenance and updating ol bungalows and, also to
enable the Trust lo update service installations. The lolal of these reserves held al the year-end was
£1,193,02412024.' £1,225.4791.
The Extraordinary Repair Reserve stands al £S3,46012024.. £S3,4601. This amount will continue lo be
reviewed on a biannual basis al meetings of Sir ED Walkèr Trustee.
Inve$tm•nl poll¢y
Th8 Invoslmenl Advisors are instructed lo Invest al Risk Level 5 which is1gDking lo maintain the real valuo of
the inveslmenls whilst achieving rèturns abovè inflation and as such, the portfolio will be more evenly
balanced be￿een equilie5 and the combined asset cla$$es of ¢ash, fixed interest, and alternatives.
Structure, Govgrnwnce and Management
The Charity is an unincorporated trust consliluled under a trust scheme dated 18 November 1997 and is
registered charity, number 230359, formed by the will of the late Sir E D Walkgr who died in 1919.
Trustees are recruited, when necessary. by continuing Iruslees. New Iruslees are given appropriate Induction
and ongoing training lo allow them lo perform their duties effectively and lulfil their obligaliony. The Trustees
agree the broad strategy and areas of activity of the charity including Consideration of investment. reserves
and risk management policies and performance.
Tru$t•e$' re8ponslbllltl•8
Under registered social housing legislation, the Trustee$ are required lo prepare a slalemenl of account for
each financial year which gives a true and fair view ol the slate of affairs of the Trust al the end of the year
and of 115 surplus or deficrt In the year. In preparing the slalemenl, the Iruslees are required lo..
select suitable accounting policies and apply them consistently.
make judgements and estimates that are reasonable and prudent.
state whether applrable a¢¢ounling $landards and statements of recommended practice have been
followed, $ubjKt lo any material departures disclosed and explained in the statement of accounts.
prepare the financial statements on the going concern basis unle$8 rt is inappropriate to presume that
the Trust will eonlinue ils operations.
Page 2

SIR E D WALKER TRUST
TRUSTEES, ANNUAL REPORT
31 MARCH 2025
Trustèos, responslbilitles Icontinuedl
The Trustee5 are responsible for kgeping proper 7Lcounling records which disclose with reasonable accura
al any lime the financial position of the Trust al that time and lo enable the Trustees lo ensure that any
statement ol account prepared by them complies Wrth the Housin9 and Regeneration Act 2008 and the
Accounting Direction for private registered providers of social housing in England 2015. They are also
responsible for safeguarding the a55els of the Charity and hence for taking reasonabl8 Steps for the
prevention and detection ol fraud and other irregularities.
The Tru$lees also are expected lo maintain sound systems ol internal control and lo review them annually.
Slgned on bohalf of thè Trust••s
MYS C J Sunley
DrA C Prlco
Date.. 6 S•pt•mb8r 2025
Page 3

ACCOUNTANTS, REPORT TO THE TRUSTEES ON THE
UNAUDITED ACCOUNTS OF SIR E D WALKER TRUST
We rgport on the accounts for the year ended 31 March 2025 Sel out on pages S to 12.
R¢sp•ctlv• r&sponslbllltlo$ of trustees and rgportlng accountant8
The Trustees of Sir E D Walker Trust are responsible for the preparation ol the accounts, and they consider
that Sir E D Walker Trust is exempl from an audrt. 11 is our responsibility to carry out procedures designed lo
enable us to report our opinion.
Ba$1¥ of oplnlon
Our procedures con515led of comparing the accounts wrth the accounting records kept by the Registered
Social Housing Provider and making such enquiries of the officers ol the Sir E D Walker Trust as we
considered necessary lor the purposes of thi$ report. These procedures provide the only assurance
expressed in our opinion.
Oplnlon
In our opinion..
the accounts for th8 year gndod 31 March 2025 are in accordance with the accounting rgcord8 kept by
Sir E D Walk8T Trust undèr paragraph 13512llal of the Housin9 and Regeneration Act 2008.,
h8ving regard only lo, and on the ba515 91 the information contained in the accounting rgcords..
the accounts comply with the requirements of the Charrtl8s Act 2011.,
the Regi81ered Soci81 Housing Providgr has satisfied th8 conditions for exemption from an audit of
the aeeounls lor the year ended 31 Ma￿h 2025 $po¢rfigd in section 136131 of the Housing and
Regeneration Aet 2008., and
the a¢¢ount$ comply with the requirèments ol the Housing and Re9eneralion Act 2008 and the
Accounting Direction for private règistered providers ol social housing in England 2015.
Ck. O-LIF
Cllv• Owen LLP
Rèporting Accountants
Chartered Accountants
140 Conl$cllffe Road
Darlinglon
Co Durham
DL3 7RT
Date.. 5 Septfjmber 2025
Page 4

SIR E D WALKER TRUST
STATEMENT OF COMPREHENSIVE INCOME
FOR THE YEAR ENOED 31 MARCH 202S
Notes
2025
2024
Tumover
Oper*ing expenditure
322,991
386.0161
280,141
1275,6C61
Operating Ideficill I surplus
163,0251
4.535
Investsnenl Income
21,432
9,080
Interest and financing costs
Movement in fair value of financial instruments
4,998
22,940
Total comprehensNe {defi¢il} 15UFplus for the year
136.5951
36,5SS
Brought forward Inco￿ and Expendtture Reserve
1.225.479
1.189.644
Transfer lo Extraordinary Repair Reserve
14,8601
Transfer from Revaluation Reserve
4,140
4,140
Carried forward Income and ExperKlrture Reserve
1.193.024
1,225,479
These accounts were authonsed for issue by the Twstees on 5 September 2025 and are signed on their
behalf.
Dr A C Price
The notes on pages 9 10 12 lom part of these accounts.
Page 5

SIR E D WALKER TRUST
STATEMENT OF FINANCIAL POSITION
AS AT 31 MARCH 2025
Not•$
2025
2024
Flxod assat$
Tangible fixed as$o1s
Investments
1,224.383
313.367
1,250,694
305,737
1,637,750
1,556,431
Curront asststs
Trade and other debtors
Cash and cash equivalents
12,098
331,818
5,257
349,057
Cfedrtors.. amounts falling due
wrthin one year
10
118,8891
111,3731
N•t current assets
325,027
342,941
Total as••t8 lèss curront Ilabllllle$
1,862,777
1,899,372
Total n•t assèts
1,862.777
1.899.372
Income and Expenditure Reserve
Exlraordinary Repair Re$arve
Rgvalualion R8servè
1,193.024
53.460
616.293
1,225,479
53,460
620,433
1,882,777
1,899,372
These accounts were aulhorised for issue by Ihg trustees on 5 September 2025 and are signed on their
behaLf.
Mr8 C J Sunley
The notes on pages 9 10 12 fonn part of Ihgsa accounts.
Page 6

SIR E D WALKER TRUST
STATEMENT OF CHANGES IN RESERVES
FOR THE YEAR ENDED 31 MARCH 2026
Income and Extraordinary
Expgndlturo
Repair
Reserve
Reserve
Rovaluatlon Totsl
Re$8rve Ro$ervos
As at 1 Aprll 2024
1,225,479
53,460
620,433 1,899,372
Surplus from Statement ol
Comprehensive Incomg
136,59SI
136,5951
Transfer
4.140
14,1401
As •t 31 M•r¢h 202S
1.193,024
53,460
616,293 1,862,777
Page 7

SIR E D WALKER TRUST
STATEMENT OF CASH FLOWS
AS AT 31 MARCH 2025
2025
2024
Net cash lutlllsed by) I g¢nerated from op¢ratlng actlvities
(see Note 11
19,8551
40,065
Cash flow from investing activities
Purchase of tangible fixed assets
Purchase of investments
Sale of Investments
14,7521
1118,6831
116.051
138,3681
136.0881
42.760
Net change in cash and cash oquivalents
117.2391
8,369
Cash and cash equivalants at beglnning of th¥ y•ar
349,057
340.688
Cash and ¢ash ¢qulvalents at end of year
331,818
349.057
Note 1
Cash flow from operating a¢tSvili¢s
IDefi¢itl I Surplus for the year
Unrealised loss I Igainl in market value of investrnenls
Depreciation charges
ILossl I profil on sale of fixed asset investments
Ilncreasel I decrease in trade and other debtors
Increase I Idecreasel in trade and other creditors
136,5951
18.874
31.063
123.8721
16,8411
7.516
36.555
123.3871
25,411
447
2,065
11,0261
Cash lulilised by) I generated from operations
19.8551
40,065
Note 2
Analysis of changes in net debt
At 1 April 2024 Cash flows
At 31 March 2025
Cash al bank
349,057
117,2391
331.818
349.057
117,2391
331.818
Page 8

SIR E D WALKER TRUST
NOTES TO THE ACCOUNTS
FOR THE YEAR ENDED 31 MARCH 2025
1 L8glslatlvg Framework
The Trust is registered as a ch8rrty undèr the provisions of the Charities Act 2011 and is a Registered
s￿la1 Housing Provider.
2 8asls of accounting
The financial slalemenls have been prepèred in accordance with The Financial Reporting Standard 102-
the applieable reporting standard in the United Kingdom and Republic ol Ireland IFRS1021, the Slalemenl
ol Recommended Practice. Accounting by Registered S¢xial Housing Providers120181 and with the
A¢counling Direction lor private registered providers of social housing in England 2022. The accounts are
prepared in aceordance with the historical cost basis of accounting except as mt)dified by the revaluation
of invè51menls and certain fixed assets. The Trust is a public benefit entity under FRS102.
3 Accountlng pollcles
Tho following accounling policies have beèn usad consislenlly in doaling with items which are considered
material in relation lo the Charrty's financial statements.
Houslng Propertles
Housing Properties are recorded al the figure al which they were revalued in 2017,10s5 subsequent
accumulated depreciation and any accumulated impairment losses.
Dgpreclatlon
Depreciation is char￿d al the following rates,. Land-no depreeialion
Buildings 20/0 slrai9hl line
Plant & Equipment- 250/0 and 12.S•A $lrai9hl ling
Fixturg$ & Fittings 25•￿ slraighl line
Computor equipment - 33.33% slraighl lin8
Turnover
Turnover is represented by contributions receivable from the licenseès of th8 alm$houses, rental income
and donations and legacies.
Income recognltlon
All income is recognis&d in the accounts onee the Charity has ontitlgmonl lo the funds, (( is probable that
the income will be recaivod and the amount can bè measured roliably.
Investment Incomo
Invèslmenl income is recognised in the accounts when il is received.
Investments
Quoted investments 8ie valued al the mid-markel price al tho close of business al the year end. Uni11sed
investments are valued at the average of the bid and offer prices or, if the bid price is not available, by
adjuslmenl lo the offfjr price.
Penslon costs
A defined eonlribulion pension schemo 1$ in operation and the pension charge represents the amount$
Payable lo the fund in respect of the year.
Value Added Tax
As the majority of Sir E D Walker Trust'$ activities are classified as exempl or non4)u8iness activities for
the purposes Of value added tax. Sir E D Walker Trust is not VAT registered and so 15 unable lo reclaim
the VAT which il suffers on ils purchases. Expenditure In these financial statements is therefore shown
nclusive of VAT.
Extraordlnary Repalr Resèrve
This is a designated fund sel up lo allow the Charity lo continue in the event of something occurring which
1$ out of the ordinary ¢ourse of business. In essence. the reserve is there to cover the 5hort-term costs
and allow the Charity to continue to operat& should such an event o¢¢ur. Some ol 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 2025
4 Turnover
2025
2024
Turnover is der¢ved from..
Contributions
Rental income
Donations and legacie5
3C6,971
16,020
264,121
16,020
322,991
260,141
Voids for the year amounted lo
38,319
56.754
S Investment Income
2026
2024
Dividends received
Inlgro$1 rocgived
8,160
13,272
7,518
1,562
21,432
9,080
8 Staff cost•
Staff eosls were as foll¢)WS'.
2026
2024
Wages and salariès
Pension costs
Social Security costs
89,140
1.955
62,331
1,874
71,095
64,205
The average number of full-lime equivalent staff omployed by the Charity was as follows..
Administration
Warden support
Eslale
Page 10

SIR E D WALKER TRUST
NOTES TO THE ACCOUNTS
FOR THE YEAR ENDED 31 MARCH 2025
Staff costs {continuedl
The average number of staff by headcounl empbyed by the charty was as follow5".
2025
2024
Administr*ion
Warden support
Estate
The total rernunerat￿ in respect of key management persmnel was £nil12024". £nil).
The number of employees eaming Thire than £60,000 was nil12024'. nil).
7 Tangible Fixéd Assets
Plant and
Equipment
Housing
Properties
Total
Cost I revaluation:
As al 31 Ma￿h 2024
Additions
Disposals
98,983
4,752
1.250.000
1,348,983
4.752
As at 31 March 2025
103.735
1,250.000
1.353.735
Depreciation
As al 31 March 2024
Charge for the year
32,689
14,663
65,600
16,400
98,289
31,063
As at 31 March 2025
47.352
82.000
129.352
Net book value:
At 31 March 2025
.383
1,168.000
1.224.383
At 31 March 2024
66,294
1,184.400
1,250,694
Housing Properties were Vall￿ based the existsng use. ￿patIon. a￿1 covenants on 3 August 2017 by
the Board. supported by a chartered surveyor. The land and buildÈng content of the valuation was £430.000
and £820.000 respectiv8ty-
Ifthe Housing Properties had not been revalued. they woutd have been included in Ihe Balance Sheet al the
following historic81 cost- 2025. £613.00712024." £613.007).
Page11

SIR E D WALKER TRUST
NOTES TO THE ACCOUNTS
FOR THE YEAR ENDED 31 MARCH 2025
8 Investments
2025
2024
UK bas•d Investments Ilistodl
Market value al 1 April 2024
Additions
Equalisations and adjustments
Disposa15 al cost (proceeds £115,820, realised gain £23,872)
Unrealised loss in market value
305,737
118,683
12311
191,9481
118,8741
289,489
36,088
143,5711
23,387
Market value at 31 March 2025
313,￿7
305,737
Historical w$1 al 31 March 2025
304,312
277.806
9 Debtors
2025
2024
Other debtors
12,098
5.257
12,098
5,257
10 Crodltorn.. amounts fa115ng dug wlthln ono year
2025
2024
Creditors 8nd accrua18
18.889
11,373
18.889
11,373
11 Tax•tlon
All of the Charity's income 1$ applied for ¢hariloblg p(¢rposes and Iherofore the Charity is exempl from
tsxalion.
12 R•muneratlon to rèportlng *c¢ount*nts
The total paid lo the reporting accounlanls by thè Charty related lo the following servicès..
2025
2024
Aecountanls. report
3,196
2,220
13 Accommodation under management
The Trust has 55 units for general needs housing. A further unit 15 provided for accofflmodation for the
Manager. The Trust also owns fv40 units of non-social housing stock which are rented on the open market
as private owellings.
Page 12

Appendix 1
SIR E D WALKER TRUST
INCOME AND EXPENDITURE ACCOUNT
FOR THE YEAR ENDED 31 MARCH 2025
2025
2024
Income
ContributK)ns
Rental income
Donations and legae
306.971
16,020
264.121
16.020
322,991
280,141
Less overheads
Salaries and wages
Pension scheme ¢onlribulions
Mobile warden
Telephone
Grounds
Council tax and water fate5
Healing and I￿hling
Repairs and renewals
Insurance
Sundries
Warden call system
Legal and profes$Tronal fees
Bookkeeping etc.
Reportin9 accountants. remuneration
Depreciation
69.140
1.955
20.905
2,261
5,965
28.930
39.213
145.218
6.929
12.182
2.556
14.441
2.(￿2
3.196
31.C63
62,331
1,874
19.053
1.651
6,360
28.946
42.188
50.438
6.581
21.032
2.478
3.101
1.942
2.220
25.411
386.016
275,606
Net opèratlng Ideficitl I surplus for the ygar
163.0251
4.535
Other 5ncome
Bank deposrt inleiesl
Dividends
Profit on $ale of fixed asset investments
13,272
8.160
23.872
1,562
7,518
45.304
9,080
Other Expenses
Loss on Sa￿ of fixed asset investments
14471
Net surplus for the year
Change in market value of investrnerts
117,7211
118,874)
13,168
23,387
Ovefall (loss) I surplus for th& y8ar
136,5951
36.555
This pagg d¢￿S not ffomi part ￿the StatutoryAccounls.